Beichen Industries: It is expected that the net loss for the year 2025 will be between 26.8 billion and 33.1 billion.

Beichen Industry Announcement: The company expects to achieve a net profit attributable to shareholders of the listed company of -2.68 billion yuan to -3.31 billion yuan in 2025. The company expects the net profit attributable to shareholders of the listed company excluding non-recurring gains and losses to be -2.73 billion yuan to -3.37 billion yuan in 2025. The company estimates that the year-end cash balance will be approximately 7.1 billion yuan, with sufficient funding reserves and smooth financing channels, and safe operations. During the reporting period, the company's exhibition business and commercial property business operations have remained stable, with losses mainly due to market adjustments affecting the sales prices of the company's real estate projects not meeting expectations. The company conducted preliminary impairment tests on inventory in accordance with accounting standards and is expected to make provision for inventory write-downs on some real estate projects.