Beijing North Star Industrial Co. Ltd. (00588) released an announcement, expecting the company's performance for the first half of this year, ending on June 30, 2024...
According to the announcement of Beijing North Star Industrial Co. Ltd. (00588), the expected net loss attributable to owners of the company (excluding the fair value change of investment real estate) for the first half of this year, ending on June 30, 2024, is expected to be between RMB0.539 billion and RMB0.642 billion. Compared with the same period last year, there will be losses. The owner's profit attributable to the company in the same period last year was RMB0.133 billion, of which the owner's profit attributable to the investment real estate fair value change was RMB0.11 billion; the owner's profit attributable to the company, excluding the investment real estate fair value change profit and deducting non-recurring gains and losses, was RMB50.618 million.
During the reporting period, the company's exhibition (including hotel) and commercial property sectors operated steadily, but due to the impact of real estate development business, the company as a whole incurred losses. The settlement area of real estate development business decreased, and income decreased year-on-year; due to the change of project structure, and in order to accelerate the project's realization and cash inflow, the company dynamically adjusted its marketing strategy according to market conditions, resulting in a decrease in gross profit margin; at the same time, affected by the market environment, some real estate projects of the company showed signs of impairment, and the company conducted preliminary impairment testing on inventories in accordance with accounting standards, and is expected to make provision for inventory depreciation for some real estate projects based on the principle of prudence.