Company Overview - As of December 31, 2018, the company has entered 18 prefecture-level cities and 77 county-level cities in Henan, with a cumulative delivered area of approximately 30.06 million square meters[13]. - The company has 118 ongoing projects with a total construction area of approximately 21.72 million square meters and land reserves of approximately 46.08 million square meters, of which the attributable construction area is about 34.66 million square meters[13]. - The company has established a product series including "Forest Peninsula," "Alliance New City," "No. 1 City," "Guiyuan," "Jianye Eighteen Cities," and "New Asia," enhancing the living standards in various cities in Henan[12]. - The company has adopted a light asset operation model, integrating real estate development with related resources such as property, education, hotels, and commercial services[12]. - The company aims to transform from a comprehensive urban development enterprise to a service enterprise focused on new lifestyles for urban residents[12]. - The company has maintained a commitment to high-quality residential development, creating a brand with a strong sense of social responsibility[12]. - The company has been recognized for its contributions to urbanization and economic development in Henan over the past 26 years[12]. Financial Performance - Total revenue for 2018 was approximately RMB 14.78 billion, an increase of 6.5% from RMB 13.88 billion in 2017[40]. - Gross profit for 2018 reached RMB 5.09 billion, representing a significant increase of 55.2% compared to RMB 3.28 billion in 2017[40]. - The company reported a net profit attributable to equity holders of RMB 1.15 billion, a year-on-year increase of 42.3% from RMB 811.37 million in 2017[40]. - The total cash, cash equivalents, and restricted bank deposits as of December 31, 2018, amounted to RMB 17.78 billion, up 32.6% from RMB 13.41 billion in 2017[41]. - The total assets increased by 63.1% to RMB 101.96 billion in 2018, compared to RMB 62.53 billion in 2017[41]. - Contract sales for 2018 reached RMB 72.37 billion, a remarkable growth of 97.2% year-on-year[47]. - The company achieved a sales amount of RMB 53.7 billion in 2018, representing a 76% increase year-on-year, becoming the dual champion in sales amount and sales area in the Henan regional market[25]. Market Position and Recognition - The company ranked 41st in the "2018 China Real Estate Development Enterprises Top 500" and has maintained the first position in the "Top Ten Regional Operators" for ten consecutive years[18]. - In the "2018 China Real Estate Listed Companies Comprehensive Strength Top 30," the company was ranked 26th and 4th in the "Operational Performance Ranking of Listed Real Estate Companies" in China[18]. - The company was included in the "2018 Fortune China 500" list, being the only real estate enterprise from the province[19]. - The company's brand value was ranked 27th in the "2018 China Real Estate Development Enterprises Brand Value Assessment" report[19]. Project Development and Expansion - The company has a total of 12 ongoing residential projects in Zhengzhou, with a combined construction area of 3,579,000 square meters[122]. - The company is expanding its commercial projects, including Financial Island in Zhengzhou with an area of 387,309 sqm and Headquarters Port in Shangqiu with 108,052 sqm[81]. - The company is focusing on market expansion through new developments in cities like Nanyang and Xinyang, with significant projects such as Shili Lake Mountain (151,801 sqm) and Gushi Jianye City (293,260 sqm)[120]. - The company has delivered a total of 38 projects with a total construction area of approximately 4.689 million square meters as of December 31, 2018[130]. - The company has ongoing projects with a total construction area of 21.72 million square meters, indicating significant expansion in residential developments[128]. Strategic Initiatives - The company aims to enhance its profitability through standardized product systems, cost optimization, and scientific management of held assets[35]. - The company plans to optimize its investment structure and fully explore the value of existing business assets to improve profitability[36]. - The company has established a comprehensive "Jianye+" business ecosystem, integrating various sectors such as real estate, commerce, and education[28]. - The company will continue to leverage its brand, reputation, and unique business model to accelerate resource integration and innovate land acquisition methods[33]. - The company is committed to creating a new lifestyle for the people of Henan, aligning with the trend of consumption and service upgrades in China[28]. Land Acquisition and Development - The company has successfully acquired land use rights for various plots, including a site in Zhengzhou for RMB 110 million (1.1 billion) with an area of 13,851.12 square meters[163]. - The company has acquired land through bidding and equity acquisition, totaling approximately 5.48 million square meters, with an additional reserve construction area of about 13.51 million square meters[162]. - The total area of land acquired in various transactions amounts to over 1 million square meters, indicating significant expansion efforts in the region[174]. - The company successfully obtained land use rights in Zhengzhou for RMB 439 million, with an area of 38,903.8 square meters and a planning density ratio of 1.0-2.5[186]. Hospitality and Tourism Development - The total investment in hotel projects has reached RMB 4.1 billion, with plans to increase the number of hotels in Henan to 10 within the next 3-5 years[133]. - The company has established strategic partnerships with international hotel management groups such as Marriott, InterContinental, and Accor, managing 5 high-end hotel projects[133]. - The company is focused on expanding its service system in the hotel sector, indicating a strategic shift towards hospitality[133]. - The company aims to enhance its brand presence in the hospitality sector with unique design elements and modern amenities in its hotel projects[134]. Green Base and Ecological Initiatives - Jianye Green Base has established and operated two green bases, with one under construction and two in the planning stage, covering a total area of over 16,000 acres[146]. - The Yanling Jianye Green Base received over 800,000 visitors in 2018, including provincial leaders and experts, and was awarded the National 4A Tourist Attraction title[147][149]. - The Zhoukou Jianye Green Base has a planned total investment of RMB 2 billion and covers an area of 6,450 acres, focusing on modern ecological agriculture and cultural tourism[151]. - The company is committed to sustainable development through the establishment of the Shangqiu Jianye Green Base, covering an area of 3,000 acres with a planned investment of approximately RMB 2 billion (20 billion)[158].