Building an ecosystem with "Exhibition+" and strengthening the core with digital intelligence: Beichen Industrial unlocks new growth opportunities | In-depth analysis of the annual report

Industry data shows that from 2015 to 2024, the country’s total exhibition floor space increased from 117 million square meters to 147 million square meters, and the overall industry size has been expanding steadily. In 2025, China hosted more than 4,000 trade fairs and exhibitions, with total exhibition floor space nearing 160 million square meters. Both the number of exhibitions and the exhibition space grew, and the quality of market-driven development continued to improve.

It can be seen that the convention and exhibition industry is entering a new stage of high-quality development. It has become a key lever for keeping industrial cycles flowing and driving consumption growth. On March 28, Beichen Industrial officially released its 2025 annual report, showcasing its strong performance in exhibition operations and ecosystem development.

The report shows that in 2025, Beichen Industrial’s exhibition and supporting facilities services segment generated operating revenue of 297.6k yuan, representing a year-on-year increase of 0.53%, and accounting for 49% of the company’s total operating revenue. Pre-tax profit was 349 million yuan, and its core business continued to develop steadily overall.

Industry insiders point out that, as an important platform in the modern market system and the open economy system, the convention and exhibition industry is of great significance for industrial upgrading, innovation transformation, supply-chain smoothness, and high-level opening-up. With the continued development of China’s convention and exhibition industry and the simultaneous strengthening of consumption and industrial momentum, leading companies represented by Beichen Industrial are moving into a broader space for development.

Deepening the core exhibition business, balancing the heavy and light sides to solidify the position of the chain leader

In recent years, relying on Beijing’s convention and exhibition resources, Beichen Industrial has focused on its main convention and exhibition business using a model of “heavy-asset ownership + lightweight brand output.” It has actively expanded government-type exhibitions and international exhibitions, and worked to foster independently branded exhibition events.

The report shows that in 2025, the company held 2,397 exhibition and event activities of all types in its self-owned venues and hotel accommodations, up by approximately 6.9% year over year, with visitor, exhibitor, and attendee traffic reaching 5.0373 million person-times.

It is understood that in 2025, Beichen Industrial successively took on entrusted management responsibilities for the Phase II of the National Convention Center and the Capital International Exhibition Center, both of which began operations. Among them, Phase II of the National Convention Center, working in tandem with the National Convention Center owned by the company, formed a world-class convention and exhibition complex of over 1.3 million square meters. Within the year, it hosted 55 large meetings and 60 large exhibitions, becoming an important window for international exchanges in Beijing.

Worth noting is that to further invigorate holiday consumption markets and enrich residents’ cultural life, during the 2026 Spring Festival, Beichen Industrial innovatively integrated “culture, commerce, tourism, and sports, as well as exhibitions” into diversified business formats. It carefully planned and hosted a new indoor temple fair— the inaugural Dadu New Spring Temple Fair—creating an immersive festive consumption new scenario that blends technological appeal, an international flair, and Chinese flavor into one.

In addition, Beichen Industrial’s lightweight brand output has been steadily advancing, and its nationwide layout has been accelerating. The report shows that in 2025, the company newly signed six venue and hotel entrusted management projects and three advisory consulting projects. As of now, the company’s exhibition venues and hotel management output business has entered 30 cities nationwide, including 76 advisory consulting venue and hotel projects and 64 entrusted management venue and hotel projects. The total floor area of entrusted management venues is nearly 7 million square meters.

With mature operational capabilities and a high-standard service system, Beichen Industrial has performed outstandingly in guaranteeing major events and serving as host/co-host for branded exhibitions.

The report shows that in 2025, Beichen Industrial completed high-standard service and保障 for multiple major state and government affairs activities, including the Global Women’s Summit, the Fourth Ministerial-Level Meeting of the China-LAC Forum, the 10th Annual Meeting of the Board of Governors of the AIIB, the 3rd Session of the 14th Beijing Municipal Committee of the Chinese People’s Political Consultative Conference, the China-Africa Economic and Trade Expo, the Shanghai Cooperation Organization (SCO) Tianjin Summit, the Beijing Xiangshan Forum, and others. The “Beichen Service” received high recognition from the organizers, and its brand influence continued to grow.

Meanwhile, the company also successfully hosted and co-hosted a series of high-specification exhibitions in 2025, including the CIFTIS (China International Fair for Trade in Services), the 29th World Gas Conference, the Beijing International Senior Expo (Beijing Laobo Fair), the IASP World Congress, the Beijing Healthy Life Consumer Expo, the Beijing Half Marathon Expo, the ICCA Global Venue Forum, the China Refrigeration Exhibition, the 27th K-E—Science & Technology & Innovation Expo, and more. Its market-oriented operational capability and industry benchmark position were further consolidated.

Among them, at the 2025 CIFTIS, further breakthroughs were achieved in key areas such as exhibition display, conference forums, and market-oriented招商. Cumulative on-site entries by visitors reached 282k person-times, a year-on-year increase of 8%. The internationalization rate of exhibitors exceeded 20%. Market-oriented revenue and the total sponsorship amount achieved “double growth.” During the event, a total of more than 40 supporting activities were held, showcasing nearly 140 typical cases of “Beijing Service,” resulting in more than 900 cooperation outcomes.

It can be seen that, thanks to its whole-chain operational strength, Beichen Industrial’s market-oriented operational level in the convention and exhibition sector has continued to improve, its leading position in the industry has been further consolidated, and its brand value and overall competitiveness have reached a new level.

Deepening “Exhibitions +” synergy to build a whole-chain value ecosystem

Relying on the advantages of its core exhibition platform, Beichen Industrial connects its exhibition supporting facilities services business and real estate business through its “Exhibitions +” strategy, building a whole-chain value ecosystem.

In recent years, relying on Beichen Business Operation Management (Beichen Shanguan), Beichen Industrial has coordinated and carried out exhibition supporting facilities services. It conducts professional asset operations and property management services for multi-format assets such as office buildings, apartments, and integrated commercial properties held by the company, creating an asset operation management model and a property management standard system with Beijing Beichen characteristics, and establishing a new benchmark in asset management for the Beijing Aoyun New Area business district.

Within office buildings, for instance, the company integrates internal resources to form an “all-tier” office building product system with a total scale of over 500k square meters, covering multiple types of business spaces including super grade-A, grade-A, and 5A, etc. It implements precise marketing for the two major regional markets in the Asian Games and Olympic Games areas. In 2025, it signed contracts involving leading enterprises across multiple industries including TMT, energy, and finance, achieving net absorption area of about 40k square meters.

For industrial parks, relying on professional exhibition resources such as the K-E—Science & Technology & Innovation Expo, the company focuses on building a three-park layout centered on strategic emerging industries to improve the operating quality of supporting facilities such as office buildings. In 2025, the “Chaoyang Data Factor Industrial Park” successfully signed 37 customers, with an industrial clustering level reaching 82%. At the same time, it introduced the country’s first trusted data space for automobile circulation and established an “Artificial Intelligence Exhibition Industrial Park,” as well as taking on the “Intelligent Robot Innovation Application Base,” to support the construction of Beijing’s international science and technology innovation center and a global benchmark city for the digital economy.

In commercial operations, in 2025, the Changsha Beichen Triangle River business project achieved independent operations and was formally renamed “Changsha Beichen Hui.” Meanwhile, the Beijing Beichen Hui project under the company’s entrusted management continued to innovate its operating model and optimize consumer experience. In 2025, the project’s opening rate reached 99%, total customer traffic exceeded 8.3 million person-times, and the quality of commercial operations and market attractiveness continued to improve steadily.

At the same time, Beichen Industrial continued to innovate consumer scenarios and operating models, and the synergy effect between business districts became increasingly prominent, with new consumer scenarios being implemented faster. In 2025, Beichen Industrial launched “Aoyun Consumption Pass,” and Chaoyang Food Sightseeing Bus “Central Axis Line,” held activities such as the Aoyun International Hi Beer Festival, and created consumption scenarios that integrate multiple business formats. It also joined forces with multiple parties to establish the Changsha Beichen Riverside Business District New Life Innovation Alliance, forming a north-south linkage with the Aoyun business district, further improving the “conference and exhibition” ecosystem and helping continuously enhance brand influence and market expansion.

In addition to exhibition supporting facilities services, the real estate segment is deeply embedded in the “Exhibitions +” system. Through the “leading” role of exhibitions, it drives coordinated development of the real estate segment.

The report shows that in 2025, the company planned themed activities such as the “New Spring Home Purchase Season,” the “Heart-Moving May Day Traveling & Leisure Shopping Festival,” and the “Car Dealer Business Festival.” It flexibly adjusted its promotion strategies, and during the Spring Festival period, achieved a significant year-on-year increase in pre-sales and contract-signing targets. During the period, the company achieved contracted sales value (including parking spaces) of 282k yuan. Projects in multiple places including Changsha, Suzhou, and Beijing achieved strong sales. Among them, for the Beichen Red Oak Villa project, both the number of units sold and the sales area ranked first in the Beijing market.

In its financial report, Beichen Industrial stated that, currently, good homes are the core demand in the market, and quality and service-based offerings have become the mainstream trend in homebuying. In the future, Beichen Industrial will continue to build high-quality good homes, improve product strength and service strength with customer needs as the guidance, and drive the transformation of its real estate business into a professional urban renewal service provider supported by “Exhibitions +.”

Enabling with digital intelligence to upgrade and build core competitiveness

Currently, digitization and data assetization are becoming core themes for transformation and upgrading across industries. With AI technology being fully implemented, new opportunities have emerged for the industry, including efficiency breakthroughs and experience upgrades brought by digital marketing and data governance, as well as innovation in business models. Beichen Industrial proactively embraces technological change, driving quality improvement and efficiency gains through digital intelligence transformation.

The report shows that in 2025, the company, through digital and intelligent upgrades to the operation of both self-owned exhibition venues and entrusted venues, completed an upgrade and renovation of its exhibition smart-venue operations management platform. It built a unified “Software as a Service” (“SaaS”) operational management digital platform, standardized digital operational management standards and processes, and improved venue service efficiency and quality.

In addition, the company initiated and established an “Artificial Intelligence Exhibition Ecosystem Alliance,” to help drive the digital/intelligent transformation of exhibition and supporting facilities services and promote ecosystem-level collaboration.

In terms of digital marketing, the company launched the “Aoyun Circle” digital platform and initiated the digital construction of the “Polaris” premium member system. It integrated digital marketing resources from two major business segments—exhibition and supporting facilities services, and real estate development—to build a unified external digital marketing platform. It enables “unified brand promotion, unified channel expansion, and unified resource allocation,” effectively enhancing overall resource allocation efficiency and comprehensive market competitiveness.

In terms of data governance, it has strengthened the data governance system, unified the data foundation layer, and achieved standardization of governance and operational data. It successfully obtained two authoritative certifications: a DCMM (Data Management Capability Maturity Model) Level 3 certification for the party side (steady level), and a DLMM scene-level (Triple-star) certification for digital transformation maturity.

Industry insiders said that in the future, the core of digitization will be data governance and deep AI application: embedding digital technologies into end-to-end business processes, optimizing operations through data insights, enhancing experiences, and creating value—so that digitization truly becomes the company’s core competitiveness.

Sound financial operations, shareholder share increases demonstrating long-term confidence

Based on the favorable development of the exhibition core business and the advancement of multi-business synergy, in 2025 Beichen Industrial’s overall operating performance and financial structure were optimized in parallel.

The report shows that in 2025, Beichen Industrial achieved operating revenue of 6.06 billion yuan. Of this, revenue from the real estate development business was 500k yuan, with a gross margin of 25.49%. The exhibition and supporting facilities services segment achieved operating revenue of 40k yuan, with a gross margin of 40.44%, showing outstanding profitability quality.

In addition, in terms of capital, Beichen Industrial continued to strengthen overall coordination and debt control, steadily reducing the scale of interest-bearing liabilities, and building a solid capital base for sound operations. As of the end of the reporting period, the company’s total financing amount was 23.32 billion yuan. Its debt structure continued to improve, financing channel layout became more reasonable, financing costs were effectively controlled, and the company’s overall average financing cost was reduced to 3.56%. In the same period, the company’s net cash flow from operating activities was 3.22B yuan, an increase of 155 million yuan compared with the same period of the previous year, and its cash flow performance continued to improve.

At the same time, the controlling shareholder also demonstrated recognition of Beichen Industrial’s solid business fundamentals through share increases. On April 1, 2026, Beichen Industrial issued an announcement stating that from November 21, 2025 to March 31, 2026, Beichen Group, the controlling shareholder, increased its holdings of the company’s unrestricted A shares through centralized bidding on the Shanghai Stock Exchange. It increased by 12.7953 million shares, representing 0.48% of the company’s total A shares and 0.38% of the company’s total share capital. The amount of the share increase was 2.92B yuan (excluding transaction expenses).

With overall operations sound, the financial structure continuing to improve, and shareholders’ confidence firm, Beichen Industrial has laid a solid foundation for high-quality development in its next stage. Looking ahead to 2026, the first year of the “Fifteenth Five-Year Plan” (’15th-’5th) period, the convention and exhibition economy will usher in new development opportunities. Beichen Industrial stated that it will continue to expand the “Exhibitions +” connotation, leverage the platform role of the convention and exhibition industry in enabling multiple industries, create an “Exhibitions +” ecosystem circle, and jointly build a new ecosystem for coordinated development of the convention and exhibition industry. At the same time, with digital intelligence as the driving force, it will promote deep coordination among business segments, and continuously strengthen the chain-leader leading role.