Core Points - The company held its 13th meeting of the 11th Board of Directors on August 27, 2025, via communication methods, in compliance with the Company Law of the People's Republic of China and its articles of association [1] - The board approved the 2025 semi-annual report with a unanimous vote of 9 in favor, 0 against, and 0 abstentions [1] - The board also approved the 2025 interim profit distribution plan with the same voting results [2] - The board agreed on the semi-annual evaluation report of the "Quality Improvement and Efficiency Enhancement Return Action Plan" with a unanimous vote [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （股份代號：588） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條之披露要求而 作出。 以下刊載北京北辰實業股份有限公司（「本公司」）將於二零二五年八月二十三日在 上海證券交易所網頁(www.sse.com.cn)（股票代碼：601588）刊載的公告。以下公 告亦刊載於本公司網頁(www.beijingns.com.cn)。 承董事會命 北京北辰實業股份有限公司 張杰 主席 中國‧北京 二零二五年八月二十二日 於本公告之日，董事會由八名董事組成，當中張杰先生、梁捷女士、楊華森先生、 張文雷女士及魏明乾先生為執行董事，而周永健博士、甘培忠先生及錢愛民女士 為獨立非執行董事。 北京北辰实业股份有限公司 2025 年半年度报告摘要 公司代码：601588 公司简称：北辰实业 北京北辰实业股份有限公司 2025 年半年度报告摘要 1 / 5 北京北辰实业股份有限公司 2025 年 ...

Group 1: Development Initiatives - The Shijingshan District is developing a multifunctional "exhibition town" that integrates exhibition, tourism, shopping, and accommodation, covering an area of nearly 2 square kilometers [1] - The district aims to leverage the permanent hosting of the service trade fair at Shougang Park to enhance the exhibition economy and promote high-quality development in the hotel and accommodation sector [1] - The district has introduced eight measures to support the exhibition economy, aiming to create new consumption landmarks and attract over 13 million visitors to Shougang Park by 2024 [1] Group 2: Urban Revitalization Projects - The district is focusing on the "Two Parks and One River" coordinated development strategy, enhancing the ecological and regional characteristics of the Yongding River [2] - The "Chao Wan Yue Xiang Waterfront" project, located along the Yongding River, aims to create a new urban waterfront lifestyle experience, with a total area of approximately 5,000 square meters and 30 planned design spaces [2] - The project is set to debut 11 design works before the service trade fair, contributing to the creation of vibrant commercial districts [2] Group 3: Talent Attraction and Support - To attract young entrepreneurs, the Shijingshan District has established a youth innovation and entrepreneurship base, providing free office space for eligible teams for one year [3] - The district has also prepared over 3,000 rental housing units for talent, ensuring comfortable living conditions for young professionals [3]

Investment Rating - The report maintains an "Outperform" rating for the social services industry, expecting it to perform better than the benchmark index in the next 6-12 months [2][52]. Core Insights - The social services sector saw a 0.30% increase in the two weeks from August 4 to August 15, 2025, ranking 30th among 31 industries in the Shenwan classification. This performance lagged behind the CSI 300 index by 3.34 percentage points [2][13]. - Recent consumption policies, including interest subsidies, are anticipated to boost consumer confidence and spending, particularly in the travel and related sectors [5][30]. - The retail sales growth rate slowed to 3.7% year-on-year in July, indicating a need for improved consumer confidence [5][30]. Summary by Sections Market Review & Industry Dynamics - The social services sector's performance was below the overall market, with the CSI 300 index rising 3.64% during the same period [2][13]. - The sector's subcategories showed mixed results, with hotel and restaurant services increasing by 2.70%, while education and tourism sectors declined by 1.23% and 1.28%, respectively [17][20]. - The overall price-to-earnings (P/E) ratio for the social services industry was 34.73, significantly higher than the CSI 300's 12.71, indicating a premium valuation [21]. Investment Recommendations - The report suggests focusing on companies with strong growth potential in the travel chain and related industries, such as Tongcheng Travel, Huangshan Tourism, and Lijiang Co., among others [5][45]. - It also highlights opportunities in the hotel sector, particularly brands like Junting Hotel and Jinjiang Hotel, which are expected to benefit from the recovery in business travel [5][45]. - The report emphasizes the potential for growth in the cross-border travel market, recommending attention to companies like China Duty Free and Wangfujing [5][45]. Industry News & Company Announcements - The opening of Guangzhou's first city duty-free store on August 26 is expected to enhance consumer shopping experiences and stimulate local consumption [30]. - Data from Qunar indicates a significant increase in hotel bookings from smaller cities, reflecting a shift in consumer behavior towards higher-quality travel experiences [31]. - The report notes that the civil aviation sector achieved record passenger transport volumes in July, indicating a robust recovery in travel demand [33].

Group 1 - The company, Lansheng Co., Ltd. (SH 600826), announced on August 20 that its 11th Board of Directors held a meeting via communication to discuss the appointment of a new vice president [2] - For the fiscal year 2024, the company's revenue composition is as follows: 99.35% from exhibitions and 0.65% from other businesses [2]

Group 1 - The 2025 China International Service Trade Fair (CIFT) will be held at Shougang Park, marking a shift to a single venue model, enhancing the participant experience with over 100,000 square meters of exhibition space [2] - The Shougang Park has implemented a 5.0 venue upgrade plan, with the Four High Furnaces being transformed into a high-standard conference venue capable of hosting over a thousand attendees [2][3] - The venue's design incorporates industrial heritage elements while providing modern functionality, with further upgrades planned for 2025 [2] Group 2 - The CIFT has successfully attracted nearly 1.19 million exhibitors and attendees from 198 countries and regions over its eleven editions [4] - Current exhibition recruitment is nearly complete, with intentions from around 70 countries and international organizations to participate, including over 800 enterprises, among which are more than 330 Fortune 500 companies [4] - The internationalization rate of the exhibition exceeds 20%, covering 24 of the top 30 countries and regions in service trade [4] Group 3 - The CIFT is positioned as a new platform to lead global service trade development and promote open cooperation amid challenges in global goods trade [4] - Future efforts should focus on enhancing the quality of service trade in China, improving the effectiveness of the fair, and increasing its attractiveness to enterprises through authoritative participation [5]

Core Points - The 2025 China International Commercial Vehicle Exhibition will be held from November 10 to 13 in Wuhan, focusing on "high-end, intelligent, and green" themes [1] - The exhibition is supported by the Ministry of Industry and Information Technology and is the only national-level commercial vehicle exhibition in China, attracting major domestic and international commercial vehicle enterprises [1][2] - The exhibition will showcase cutting-edge products such as new energy logistics vehicles, hydrogen-powered heavy trucks, and intelligent driving technologies, with electric trailers making their debut [1][2] Exhibition Details - The exhibition is expected to cover an area of 80,000 square meters and attract over 60,000 professional visitors [2] - It will feature an outdoor dynamic demonstration area for unmanned driving demonstrations and test rides, as well as a cold chain exhibition area showcasing refrigerated vehicles and components [2] - The exhibition has attracted international delegations from South America, Europe, Southeast Asia, Central Asia, and Africa, indicating an increase in its international profile [2] Regional Advantages - Wuhan has a complete commercial vehicle industry chain, including chassis, special vehicles, and components, providing a unique advantage for hosting the exhibition [2] - The city has significant resources in new energy and intelligent technology, which will enhance the exhibition's influence and sustainability [2]

Core Points - The third China International Supply Chain Promotion Expo opened in Beijing on July 16, themed "Linking the World, Creating the Future" [1] - The expo is a national-level event focused on supply chains, held annually starting from 2023, with this year's event taking place in summer for the first time [1] - The exhibitors at the expo represent 75 countries, regions, and international organizations, with foreign exhibitors accounting for 35%, an increase of three percentage points from the previous year [1] - The number of U.S. participating companies increased by 15% compared to the last edition, maintaining the highest number of foreign exhibitors [1] - Despite attempts by some countries to decouple from China and politicize supply chains, the participation of numerous foreign companies in the expo indicates that decoupling is not a viable path for business development [1] Industry Insights - The expo highlights the importance of supply chains, encompassing all stages from raw materials to customer service, showcasing the interconnectedness of global trade [1] - The participation of international exhibitors reflects a continued interest in engaging with the Chinese market, countering narratives of supply chain decoupling [1] - The event serves as a platform for promoting global supply chain collaboration and innovation, reinforcing China's role in the global supply chain ecosystem [1]

Group 1 - The 2025 Service Trade Fair will be held from September 10 to 14 at Shougang Park, featuring global service trade summits, exhibitions, forums, and promotional activities [2] - The exhibition will have over 70 countries and international organizations participating, with a focus on showcasing new products and achievements in various fields such as AI, fintech, and healthcare [2][3] - The "Beijing Service" brand will be prominently featured, with over 280 cases collected, highlighting areas like government services, fintech, and smart healthcare [3][4] Group 2 - Service guarantee measures have been upgraded, including traffic management with over 10,000 parking spaces and smart vehicle recognition systems [5] - Dining services will accommodate nearly 40,000 people, with outdoor seating equipped with sun protection, and temporary commercial facilities will be added to alleviate dining pressure [5] - The fair will utilize big data and AI for enhanced service levels, including real-time management of visitor flow and robot services for guidance and logistics [5] Group 3 - Attendees can participate in various consumer activities, including extreme sports and cultural experiences, enhancing the overall visitor experience [6] - Special consumption vouchers will be distributed to promote local businesses, covering accommodation, dining, and retail sectors [6] - A driverless shuttle service will connect the fair area to scenic spots, allowing visitors to enjoy the natural surroundings while experiencing technological advancements [7]

Core Points - The company held its 11th board meeting on August 4, 2025, where all 9 directors attended and approved several key resolutions [1][2][3] Group 1: Governance Changes - The board agreed to cancel the supervisory board and amend the company's articles of association to enhance corporate governance in accordance with the latest laws and regulations [1] - The current supervisors will be relieved of their positions upon the shareholders' approval of the cancellation of the supervisory board [2] - The board approved the delegation of authority to the management team to handle all matters related to this change [2] Group 2: Fund Management and Governance Systems - The board approved amendments to the "Fundraising Management Measures" to improve the efficiency of fund usage and protect investors' rights [2] - Several governance systems, including the audit committee's implementation rules and new management systems for information disclosure and shareholding changes, were revised and added [3] - The board also agreed to convene the company's first extraordinary shareholders' meeting of 2025 [3]