Beijing North Star Company Limited reported an unaudited operating revenue of RMB1,347,557,653 for the third quarter of 2025, up 3.57% year-on-year (yoy). From January to September 2025, operating revenue amounted to RMB4,366,877,339, representing a 7.70% decline compared with the same period last year. The decline was attributed primarily to lower settlement income in real estate development and inventory depreciation provisions for certain projects.

Total profit for the quarter stood at -RMB614,742,885, while net profit attributable to owners of the Company reached -RMB588,342,675. From January to September 2025, total profit and net profit attributable to owners of the Company recorded -RMB2,117,139,906 and -RMB2,173,756,917, respectively. Meanwhile, net cash flow from operating activities from the beginning of the year rose by 114.45% yoy to RMB1,107,080,362, partly due to increased cash inflows from sales of goods and services.

As of the end of the reporting period, total assets were RMB44,730,906,672, down 8.42% from the end of last year. Owners’ equity attributable to owners of the Company decreased by 22.41% to RMB7,525,340,978. The weighted average return on net assets was -25.24% for the first three quarters of 2025.

In the convention, exhibition (including hotels), and commercial properties businesses, the total operating revenue through September 2025 reached RMB429,710,000 for convention centers, RMB556,050,000 for hotels, RMB507,930,000 for office buildings and integrated commercial units, and RMB198,860,000 for apartment projects. In real estate development, the Company’s total land reserve was approximately 3,572,500 square meters, with an equity land reserve of 3,325,800 square meters. During the first three quarters, the Company recorded a sales area of 210,400 square meters and a sales amount of RMB2,782 million. Settlement area totaled 174,400 square meters, leading to a settlement amount of RMB1,949 million.

These results were published in accordance with Chinese regulatory disclosure requirements and prepared under China Accounting Standards for Business Enterprises.