Core Viewpoint - New Huangpu reported a decline in revenue for 2024 but a significant increase in net profit, primarily due to asset sales and strategic acquisitions [2][4]. Financial Performance - In 2024, New Huangpu achieved operating revenue of 2.922 billion yuan, a year-on-year decrease of 4.38% [2]. - The net profit attributable to shareholders was 81.7085 million yuan, reflecting a year-on-year increase of 31.60% [2]. - For Q1 2024, the company reported operating revenue of 277.8 million yuan, a year-on-year increase of 28.07% [2]. - The net profit for Q1 2024 was 77.5857 million yuan, showing a remarkable year-on-year increase of 2123.13% [2]. Strategic Moves - The increase in net profit for Q1 2024 is attributed to the transfer of a 10% stake in Shanghai Weixing Housing Rental Operation Co., generating approximately 170 million yuan, with expected net gains of 50 to 70 million yuan [4]. - New Huangpu is actively expanding its business through acquisitions, including a project in Beijing for 215 million yuan, which will be integrated into the city's affordable housing system [5]. - The company is also focusing on the rental housing market, having established the "Zhu Meng Cheng" brand for its rental projects [5]. Business Focus - New Huangpu's main revenue sources include real estate sales, property management, real estate leasing, and financial services, with approximately 80% of revenue coming from real estate sales [4][5]. - The company is optimizing its "dual-driven" development strategy, aiming to strengthen its core real estate business while enhancing its financial services [6].