Beijing Urban Construction Investment & Development (600266.SH) announced a pre-loss, expecting a net loss of between 697 million yuan and 998 million yuan in 2024.

Beijing Urban Construction Investment & Development (600266.SH) announced that the company is expected to achieve a net profit attributable to the owners of the parent company of -697.06 million yuan to -998.32 million yuan in 2024; it is expected to achieve a net profit attributable to the owners of the parent company after deducting non-recurring gains and losses of -1,248.73 million yuan to -1,793.61 million yuan in 2024. The company and its equity investee companies began to implement the new financial instrument standard on January 1, 2019. Trading financial assets are measured at fair value with changes recorded in current period profit or loss. During the reporting period, the share prices of trading financial assets held by the equity investee companies of the company fell, causing a significant negative value in investment income for the company, affecting the operating results of the reporting period. Due to the overall impact of the real estate market, the equity investee company Beijing Science Park Construction (Group) Co., Ltd. is expected to incur significant losses during the performance forecast period, and the company recognizes investment losses based on the equity method accounting according to the equity ratio.