Gelonghui March 24 丨Beijing Beichen Industrial Co., Ltd. (00588.HK) announced its 2022 annual results. In 2022, the company achieved revenue of RMB 12.999 billion, a year-on-year decrease of 41.45%. The company's loss before tax and loss attributable to common shareholders amounted to RMB 803 million and RMB 1,471 million. Among them, the core operating performance of the company's main business after tax (excluding loss from changes in fair value) recorded a loss of RMB 1,333 million, a year-on-year decrease of 532.63%. The fair value change loss (after tax) of exhibition (including hotels) and commercial properties attributable to common shareholders this year was RMB 139 million. The loss per share was RMB 0.437.

Among them, the real estate development sector was affected by macro-control and settlement cycles, and the carry-over area declined, achieving operating income of RMB 10.965 billion (including parking spaces), a year-on-year decrease of 45.53%. At the same time, the company calculated inventory price reduction preparations for some real estate projects. The loss before tax was RMB 608 million before tax. The exhibition (including hotels) and commercial property sectors were affected by the economic environment and achieved operating income of RMB 1,882 million, a decrease of 1.48% over the previous year. The loss before tax was RMB 954.79 million. The assessed impairment for the reporting period was RMB 244 million.