Financial Performance - In 2024, the company reported total operating revenue of 7.37 billion yuan, a year-on-year decrease of 37.28% from 11.74 billion yuan in 2023 [2] - The net profit for 2024 was -2.01 billion yuan, compared to a loss of 533.54 million yuan in the previous year, indicating an expanded loss [2] - Total operating costs decreased to 8.84 billion yuan in 2024 from 12.18 billion yuan in 2023 [2] Revenue Breakdown - Revenue from housing sales was 7.09 billion yuan, down 38.31% year-on-year [3] - Rental income increased to 1.33 million yuan, reflecting a growth of 56.47% [3] - Hotel revenue was 1.29 million yuan, a decrease of 4.44% compared to the previous year [3] Cash Flow and Liquidity - The cash and cash equivalents at the end of 2024 amounted to 7.21 billion yuan, a decrease of 21.58% from 9.20 billion yuan in 2023 [4] - The net increase in cash and cash equivalents for 2024 was -1.99 billion yuan, compared to an increase of 4.33 billion yuan in the previous year [4] - The cash short-term debt ratio for 2024 was calculated at 1.5 [7] Debt Structure - As of the end of 2024, the company had short-term interest-bearing liabilities totaling 4.83 billion yuan, including short-term loans of 1.40 billion yuan and bonds due within one year of 700 million yuan [6] - The company had long-term borrowings due within one year amounting to 3.80 billion yuan [7] Management Changes - In November 2024, Li Ke was appointed as the new General Manager, succeeding Wang Lei, who left the position [9] - In December 2024, Kang Ying took over as Chairman of the Board, also succeeding Wang Lei [9] - A total of six senior management members, including the former Chairman and General Manager, left their positions in 2024 [8]