Beijing North Star (00588.HK) (601588.SH) has released the "Quality Improvement, Efficiency Improvement, and Return" action plan for 2024, showing that it is closely following the trend of economic recovery, continuously optimizing its industrial layout, thoroughly improving management efficiency, and promoting the coordinated development of real estate, exhibitions, hotels, and commercial property sectors.
In 2024, North Star will comprehensively assist in the construction of the Capital International Communication Center, promote the construction of the Beijing International Consumer Center City, promote the digital transformation of industries, accelerate the establishment of a new industrial pattern of mutual support, complementary advantages, and coordinated development of real estate, exhibitions, and commercial property, and focus on promoting the company's high-quality development.
Regarding real estate development, North Star will strengthen analysis and judgment, respond to external changes with its own certainty, ensure smooth passage through industry cycles, optimize product supply, respond to market demand, focus on enhancing product core competitiveness, and build a characteristic real estate brand.
In the exhibition business, the company will actively promote the digital transformation of the industry and the construction of smart venues, accelerate the layout of the entire industry chain, open up upstream exhibition business through multiple channels and in multiple fields, strongly introduce international exhibitions, and strive to enhance the initiative of the industry chain; strengthen standardization construction of venue management, further improve management quality, consolidate management advantages, and create hotel brand characteristics and management standards.
In terms of commercial property, the company will focus on office buildings, apartments, and business park business, tap the value of characteristic assets such as hotels, industrial parks, and cultural parks, continuously integrate resource allocation, scientifically optimize management structure, improve innovative management models, strengthen professional team building, and while enhancing office rental rates, accelerate the construction of a competitive alliance to promote development cooperation; optimize the extended hotel and apartment product line, create professional differentiated and characteristic products, and enhance service quality.
In financing work, the company will fully utilize the "headquarters financing" model, broaden financing channels, strengthen debt control, and improve operating efficiency. Actively adjust and replace debts, increase bank financing ratio, replace various insurance and trust debts, continuously optimize financing structure, reduce financing costs, effectively reduce company expenses, attach importance to the quality of sales receivables, strengthen cash flow management, enhance the company's overall ability to resist risks and operating resilience, increase the safety margin of funds, and ensure the stability of the fund chain. (ta/cy)
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