Beijing North Star Company (588) Q3 2025 earnings summary

Executive summary

• Report covers unaudited results for the third quarter and first nine months of 2025, prepared under China Accounting Standards for Business Enterprises.

• Net profit attributable to owners was a loss of RMB 588.3 million for Q3 and RMB 2.17 billion for the first nine months.

• Major losses driven by decreased settlement income and inventory depreciation in the real estate development segment.

Financial highlights

• Operating revenue for Q3 was RMB 1.35 billion, up 3.57% year-over-year; nine-month revenue was RMB 4.37 billion, down 7.7%.

• Net cash flow from operating activities for the first nine months was RMB 1.11 billion, up 114.45% year-over-year.

• Basic and diluted EPS were -0.18 for Q3 and -0.65 for the first nine months.

• Total assets at quarter-end were RMB 44.73 billion, down 8.42% from year-end 2024.

• Owners' equity attributable to owners was RMB 7.53 billion, down 22.41% from year-end 2024.

Outlook and guidance

• Real estate sales area for the first nine months was 210,400 m², nearly flat year-over-year, but sales amount declined 5.53%.

• No new land reserves were added during the period.