The board of directors (the “Board”) of Beijing North Star Company Limited (the “Company”) is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2022 (the “Period” or “Reporting Period”), based on the interim condensed consolidated financial information which has been prepared in accordance with Hong Kong Accounting Standard (“HKAS”) 34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and relevant requirements of the Rules Governing the Listing of Securities (the “Listing Rules”) on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

The 2022 interim condensed consolidated financial information of the Company has not been audited, but has been reviewed by the Board and the audit committee of the Company (the “Audit Committee”).

For the Period, the Group achieved revenue of RMB6,840,511,000 representing a decrease of 33.75% over the same period of the previous year. Operating profit was RMB108,959,000 representing a decrease of 92.58% over the same period last year. Loss attributable to the ordinary shareholders of the Company was RMB532,913,000 representing a decrease of RMB794,367,000 over the same period last year, among others, the after-tax core operating results of the Company’s principal  business (excluding losses arising from the changes in fair value) recorded a loss of RMB430,832,000 representing a decrease of RMB793,000,000 over the same period last year. Loss attributable to the owners of the Company was RMB405,473,000
(excluding losses arising from the changes in fair value), representing a decrease of RMB840,341,000 over the same period last year. During the Period, the losses (after taxation) on changes in fair value of investment properties was RMB102,081,000.