Core Points - The actual controller and chairman of Wantong Development, Wang Yihui, has been detained by the Beijing police for investigation, as informed by his family [1][3] - The company stated that its board of directors is operating normally and that the business operations are not expected to be significantly adversely affected by this incident [3] - Wantong Development's main business activities include property asset management, real estate development and sales, and communication and digital technology [3] Financial Performance - For the first half of 2025, Wantong Development expects a net loss attributable to shareholders of between -33 million and -22 million yuan [3] - The company anticipates a net loss of between -75 million and -64 million yuan after deducting non-recurring gains and losses for the same period [3] - The expected losses are attributed to macroeconomic factors and a lack of significant improvement in market demand [3]

事件： 点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 司发布2024年年度报告。2024年，公司实现营业收入599.9亿元，同比下降16.8%；归母净利润9.5亿元， 同比下降48.2%。 点评： 毛利率延续下降，资产减值计提幅度加大 2024年，公司实现营业收入599.9亿元，同比下降16.8%，收入下降主要因房地产开发收入同比下降18.5% 至557.2亿元；公司综合毛利率为14.3%，同比下降3.82pct，其中房地产开发毛利率为14.3%，同比下降 3.67pct，连续三年承压下滑，仍处于寻底过程；公司归母净利润为9.5亿元，同比下降48.2%，主要原因包 括营收与毛利率同比下降明显、资产减值损失计提同比增长15.4%至18.4亿元、投资性房地产公允价值收 益同比 ...