Beijing North Star Company (588) Q1 2025 earnings summary

Executive summary

• Operating revenue for Q1 2025 was RMB 1.20 billion, down 30.64% year-over-year, mainly due to a decrease in settlement income from the real estate development segment as a result of the development cycle.

• Net loss attributable to owners was RMB 294.94 million, compared to a loss of RMB 173.76 million in Q1 2024.

• Basic and diluted EPS were both -0.09 RMB, compared to -0.05 RMB in the prior year.

Financial highlights

• Net cash flow from operating activities improved to -RMB 21.46 million from -RMB 308.13 million year-over-year.

• Total assets at quarter-end were RMB 47.30 billion, down 3.15% from year-end 2024.

• Owners' equity attributable to owners was RMB 9.40 billion, down 3.04% from year-end.

• Non-recurring items contributed a net gain of RMB 8.92 million.

Outlook and guidance

• Real estate sales area increased 101.10% year-over-year to 91,300 m², with sales amount up 63.51% to RMB 1.05 billion.

• Equity sales area and amount rose 126.29% and 88.78% year-over-year, respectively.