Jinqiao Export zone sees significant profit decline in 2024

Shanghai Jinqiao Export Processing Zone Development (SSE:600639) announced a preliminary earnings report for 2024, revealing a substantial downturn in profitability. Total operating income decreased by 58.62% year-over-year to RMB 2,724.79 million. Net profit attributable to shareholders fell by 44.91% to RMB 1,001.95 million. The decline is attributed to the previous year's significant sales from the Biyun Zundi housing project and the impact of excluding investment income from REITs products as non-recurring gains. The company's total assets increased by 22.26% to RMB 48,634.34 million, while net assets attributable to shareholders rose modestly by 2.91% to RMB 14,523.96 million. The company cautions investors that these figures are preliminary and unaudited.