Urban development: Net profit is expected to be between 440 million and 654 million yuan in the first half of 2025.

Urban construction development announcement: It is expected that the net profit attributable to the owners of the parent company will be between 440 million and 654 million yuan in the first half of 2025, compared to a loss of 138 million yuan in the same period last year, turning the loss into a profit. It is expected that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses will be between 347 million and 506 million yuan in the first half of 2025, compared to a loss of 242 million yuan in the same period last year. The main reasons for the company's expected turnaround in performance in the first half of 2025 are increased revenue from real estate project deliveries and investment income from the rise in stock prices of investee enterprises holding financial assets.