Core Viewpoint - The company is preparing for its 2025 annual general meeting, focusing on the approval of related party transactions and the extension of the board's authority for issuing A-shares, while also reporting on its 2024 operational and financial performance. Group 1: Meeting Details - The annual general meeting is scheduled for June 20, 2025, at 14:00, with online voting available during specified times [1] - The meeting will be held at Ziting Hotel, Shanghai, and will be witnessed by lawyers from King & Wood Mallesons [1] - The agenda includes proposals for expected related party transactions and the extension of the board's authority for issuing A-shares [1] Group 2: Board Performance and Operations - The board held 11 meetings in the reporting period, focusing on significant matters such as equity purchases and management appointments [4] - The company reported a revenue of 6.959 billion yuan in 2024, a decrease of 54.74% year-on-year, and a net profit of -317 million yuan, down 157.06% [5][19] - The asset-liability ratio at the end of 2024 was 70.12%, a decrease of 1.35 percentage points from the beginning of the year [5][19] Group 3: Business Segments Performance - The asset management segment achieved a rental income of 647 million yuan, with a leasing area of over 800,000 square meters [6] - The property service segment managed 296 projects, covering 25.5 million square meters, leading to significant revenue growth [6] - The urban agriculture segment reported a revenue of 320 million yuan in 2024 [6] Group 4: Future Outlook and Strategy - The company anticipates a recovery in the real estate market in 2025, driven by supportive macro policies [9][10] - The strategic focus will be on enhancing core business areas while exploring urban life services and city renewal projects [11] - The company aims to optimize project delivery and improve product quality in residential projects [12] Group 5: Financial Management and Governance - The average interest rate on interest-bearing liabilities decreased from 4.34% to 3.87% in 2024 [7] - The company plans to provide guarantees totaling up to 3 billion yuan for subsidiaries in 2025 [21][22] - The board and supervisory committee have maintained compliance with legal and regulatory requirements, ensuring effective governance [14][16]