Beijing North Star Co Ltd Class A

Beijing North Star released its 2026 interim report, with net profit attributable to shareholders showing a loss of 880 million yuan, narrowing the loss by 705 million yuan compared with the same period last year. Total operating revenue was 3.045 billion yuan, up slightly by 0.87 percent year-on-year. Net cash inflow from operating activities was 690 million yuan, up 66.43 percent year-on-year, rising for two consecutive years. The latest asset-liability ratio was 80.37 percent, gross margin was 26.01 percent, and return on equity was negative 15.12 percent. Diluted earnings per share were negative 0.26 yuan, total asset turnover was 0.07 times, and inventory turnover was 0.11 times.

Beijing North Star disclosed a performance forecast, expecting a net loss attributable to shareholders of 810 million to 970 million yuan in the first half of 2026, compared with a loss of 1.585 billion yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 830 million to 990 million yuan, compared with a loss of 1.611 billion yuan a year earlier. The company said the change in performance is mainly due to continued losses in the real estate development segment. Although the exhibition and ancillary services segment is operating stably, the overall result remains a loss, but the loss has narrowed significantly compared with the same period last year. Based on the latest closing price, the company's price-to-book ratio is about 0.84 times, and its price-to-sales ratio is about 0.89 times.