Langfang Development (600149.SH) announced on July 9th that the preliminary calculation by the finance department showed that it is expected to achieve a net income attributable to the owner of the parent company of about 0.95 million yuan in the first half of 2024, which is compared with the same period of the previous year (legally disclosed data) and will turn losses into profits. It is expected to achieve a net profit after deducting non-recurring gains and losses attributable to the owners of the parent company of about 0.4 million yuan in the first half of 2024.

The main reason for achieving profitability in the first half of 2024 is that the heating cost for this period has been reduced compared to the previous period. First, the cost of coal, the main fuel for the company's heating business, has decreased. Second, the application of cost-advantaged heat and power cogeneration heat sources has been expanded.