BEIJING N STAR (00588) announced that it expects a continued net loss attributable to the company's owners for the year ending December 31, 2025. Based on preliminary calculations by the company's finance department, the estimated net loss attributable to owners for 2025 is projected to be between RMB 2.696 billion and RMB 3.38 billion, representing a continuation of the loss compared to the previous year.

The net loss attributable to owners, excluding the impact of fair value changes on investment properties, is estimated to be between RMB 2.463 billion and RMB 3.093 billion. The company anticipates a loss of approximately RMB 233 million to RMB 287 million from the fair value change of its investment properties.

Furthermore, the estimated net loss attributable to owners for 2025, after excluding both the fair value changes on investment properties and non-recurring gains or losses, is projected to be between RMB 2.513 billion and RMB 3.153 billion, indicating a continued loss year-on-year.

The company expects its cash balance at the end of the period to be approximately RMB 7.1 billion, highlighting sufficient capital reserves and smooth financing channels, ensuring operational security. During the reporting period, the company's exhibition (including hotel) and commercial property businesses remained largely stable.

The primary reason for the loss is attributed to the impact of market adjustments, leading to the selling prices of the company's real estate projects falling short of expectations. In accordance with accounting standards, the company conducted a preliminary impairment test on its inventory and expects to make provisions for inventory write-downs on certain real estate projects.