Beijing North Star Company (588) investor relations material

Executive summary

• Revenue for the six months ended 30 June 2026 was RMB3,045.5 million, up 0.87% year-over-year, with net loss attributable to shareholders at RMB936.5 million, a significant reduction from the prior year.

• Core operating loss after tax (excluding fair value changes) was RMB770.7 million, and fair value losses on investment properties after tax were RMB165.8 million.

• No interim dividend was declared for the period.

• Loss per share was RMB0.2781, improved from RMB0.4892 in the prior year period.

Financial highlights

• Operating loss narrowed to RMB428.1 million, a decrease in loss of RMB709.5 million year-over-year.

• Gross profit turned positive at RMB333.2 million versus a gross loss of RMB308.0 million in the prior year.

• Finance expenses net were RMB389.3 million, down from RMB473.7 million year-over-year.

• Total assets as of 30 June 2026 were RMB51,868.3 million; total liabilities were RMB36,182.8 million.

• Asset-liability ratio was 71%; gearing ratio was 131.4%.

Outlook and guidance

• Focus remains on synergistic development of convention/exhibition and real estate, digital transformation, and risk control.

• Estimated fixed asset investment for H2 2026 is RMB65 million, funded by internal resources.

• The company aims to accelerate sales, ensure project delivery, and enhance operational efficiency in both core segments.