证券代码：600053 证券简称：九鼎投资 编号：临 2023-011 昆吾九鼎投资控股股份有限公司 K u n w u J i u d i n g I n v e s t m e n t H o l d i n g s C O . , L t d 2022 年 第 四 季 度 私募股权投资管理业务 经营情况简报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 现将昆吾九鼎投资控股股份有限公司 2022 年第四季度私募股权投资管理业务主要 经营数据公告如下，供投资者参阅。报告期指 2022 年 10-12 月。 一、报告期内基金募集资金情况 | | | | | 类型 | 实缴金额（亿元） | | | --- | --- | --- | --- | --- | --- | --- | | | | | 报告期内公司管理的基金新增实缴规模 | | | - | | 2022 | 年 1-12 | | | 月公司管理的基金新增实缴规模 | | 0.04 | | 截至 | 2022 | 年 12 | 月 | 31 日公司在管基金累计实缴规 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥102,774,002.64, representing a year-on-year increase of 62.63%[7] - The net profit attributable to shareholders for Q3 2022 was ¥13,896,817.24, a decrease of 34.07% compared to the same period last year[7] - Year-to-date revenue reached ¥357,736,877.18, showing a significant increase of 154.77% year-on-year[9] - The net profit attributable to shareholders for the year-to-date period was ¥111,900,322.44, reflecting a year-on-year increase of 73.90%[9] - Basic earnings per share for Q3 2022 were ¥0.0321, down 34.07% year-on-year[9] - Total operating revenue for the first three quarters of 2022 reached CNY 357,736,877.18, a significant increase from CNY 140,415,409.71 in the same period of 2021, representing a growth of approximately 154.1%[28] - Net profit for the first three quarters of 2022 was CNY 110,502,827.70, up from CNY 62,049,735.20 in 2021, reflecting a growth of approximately 78.1%[32] - Total comprehensive income attributable to the parent company reached CNY 121,775,905.08, an increase from CNY 62,117,197.91 in the previous year[34] - Basic and diluted earnings per share were both CNY 0.2581, compared to CNY 0.1484 in the same period last year, reflecting a significant increase[34] Revenue Sources - The private equity investment management business generated revenue of ¥33,300,000, up 176.45% year-on-year, with a net profit of ¥12,000,000, an increase of 34.10%[10] - The real estate business reported revenue of ¥2,400,000, a year-on-year increase of 22.55%, with a net profit loss reduced by 69.24%[10] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,303,825,665.42, a slight decrease of 0.53% from the previous year[9] - Total current assets increased to ¥2,153,444,417.05 from ¥1,995,924,735.40 year-over-year[23] - The company's long-term equity investments decreased to ¥54,774,000.65 from ¥63,007,113.31 year-over-year[23] - Total liabilities amounted to CNY 390,885,026.44, down from CNY 539,339,623.72, showing a reduction of about 27.5%[28] - The company has ongoing litigation involving claims totaling approximately ¥206.32 million and counterclaims of approximately ¥208.16 million[20] - The company has recognized a provision for liabilities amounting to ¥71,522,536.34 based on a court ruling[20] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥157,878,524.34, an increase of 237.35% year-on-year[7] - Net cash flow from operating activities was CNY 157,878,524.34, up from CNY 46,799,447.11 year-over-year[36] - Cash received from the sale of goods and services amounted to CNY 412,294,051.48, compared to CNY 170,748,371.57 in the previous year, indicating strong sales growth[36] - Total cash inflow from investment activities was CNY 165,620,612.19, slightly up from CNY 152,972,458.73 year-over-year[36] - Net cash flow from investment activities was CNY 127,556,488.60, compared to CNY 134,140,928.24 in the previous year, showing a slight decrease[36] - The company reported a net increase in cash and cash equivalents of CNY 127,523,601.75, compared to CNY 67,572,629.96 in the same period last year[36] - The company incurred cash outflows from financing activities totaling CNY 163,344,555.33, compared to CNY 112,723,718.06 in the previous year[36] - The company experienced a foreign exchange gain of CNY 5,433,144.14, contrasting with a loss of CNY 644,027.33 in the previous year[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 17,295[17] - The largest shareholder, Jiangxi Zhongjiang Group Co., Ltd., holds 221,105,808 shares, accounting for 51.00% of the total shares[17] - Jiangxi Zixing Enterprise Management Co., Ltd. holds 92,631,501 shares, representing 21.37% of the total shares[17] Other Financial Metrics - The weighted average return on equity was 0.49%, a decrease of 0.28 percentage points compared to the previous year[9] - The company's goodwill stood at CNY 366,827.91, unchanged from the previous period[26] - Deferred income tax liabilities increased to CNY 70,935,811.17 from CNY 52,073,519.68, marking an increase of approximately 36.2%[28] - The total equity attributable to shareholders reached CNY 2,862,821,635.71, compared to CNY 2,740,807,065.66 in the previous period, indicating an increase of about 4.4%[28] - The company reported a decrease in accounts receivable from ¥83,806,276.77 to ¥57,412,422.57 year-over-year[23] - Research and development expenses were not explicitly detailed but are a critical focus for future growth strategies[32] - The company reported a significant increase in contract liabilities to CNY 22,968,729.31 from CNY 16,381,624.57, reflecting a growth of approximately 40.5%[26]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[17]. - Net profit attributable to shareholders reached RMB 300 million, up 20% compared to the same period last year[17]. - The company achieved operating revenue of CNY 254.96 million in the first half of the year, representing a year-on-year increase of 230.18%[21]. - Net profit attributable to shareholders reached CNY 98.00 million, up 126.50% compared to the same period last year[21]. - The private equity investment management business generated operating revenue of CNY 235 million, a year-on-year increase of 265.42%[22]. - The net profit from the private equity investment management business was CNY 101 million, reflecting a 60.75% increase year-on-year[22]. - The real estate business reported operating revenue of CNY 20 million, with a year-on-year increase of 53.42%[22]. - The company’s net cash flow from operating activities was CNY 127.09 million, an increase of 161.40% year-on-year[21]. - The total comprehensive income for the first half of 2022 was CNY 118,949,854.09, compared to CNY 37,521,622.45 in the same period of 2021, marking an increase of about 216.5%[166]. - The total profit for the first half of 2022 was CNY 129,128,085.19, compared to CNY 50,029,210.85 in the same period of 2021, reflecting an increase of approximately 158.8%[166]. Market Expansion and Product Development - The company has expanded its user base by 10% in the first half of 2022, reaching a total of 1.1 million active users[17]. - The company plans to launch two new products in Q3 2022, aiming to capture an additional 5% market share[17]. - Market expansion efforts have led to a 25% increase in presence across three new provinces in China[17]. - The company aims to position its "Zijin City" project as a leading brand in Nanchang's real estate market, emphasizing quality over quantity[41]. Investment Strategy and Management - The company has allocated RMB 200 million for research and development in new technologies, focusing on enhancing operational efficiency[17]. - The company’s investment strategy focuses on sectors such as consumer goods, healthcare, and advanced manufacturing, emphasizing research-driven investment[42]. - The company has established a post-investment management center to enhance the value of existing projects and support portfolio companies in their growth[38]. - The company has implemented a profit center assessment system to improve operational efficiency and reduce internal costs[49]. - The company has established a post-investment management system with ten key objectives to enhance the value of existing projects and effectively control post-investment risks[49]. Risk Management - The company has identified potential risks including market volatility and regulatory changes, which may impact future performance[17]. - The risk of investment returns from managed funds declining due to macroeconomic downturns or a sluggish stock market could adversely affect the company's future operating performance[80]. - The real estate industry faces significant policy risks, with ongoing uncertainties in market recovery and financing conditions for private enterprises[87]. Compliance and Governance - The company has not engaged in any non-operational fund occupation by controlling shareholders during the reporting period[17]. - The company has implemented strict compliance with regulations in fund raising and management, ensuring investor suitability through questionnaires and due diligence[57]. - The company has established an independent financial department and accounting system to ensure financial autonomy[111]. - The company has committed to maintaining independence in operations, ensuring that its management and financial personnel do not hold positions in other controlled entities[109]. Shareholder and Equity Information - The total number of ordinary shareholders as of the end of the reporting period is 18,998[140]. - Jiangxi Zhongjiang Group holds 51.00% of the shares, with a decrease of 92,631,501 shares during the reporting period[140]. - Jiangxi Zixing Enterprise Management Co., Ltd. holds 21.37% of the shares, with an increase of 92,631,501 shares during the reporting period[140]. - The company has maintained a stable capital structure with no changes in preferred shares or perpetual bonds reported[181]. Environmental Responsibility and Sustainability - The company has implemented measures to maintain environmental responsibility and sustainability, aligning with global investment principles[96]. - The company actively promotes green and low-carbon development, implementing measures such as water conservation and energy-saving practices in office areas[97]. - The company has adopted a paperless office approach, utilizing an online approval system and promoting double-sided printing to reduce paper consumption[100]. - The company has established fixed waste classification points in the office to enhance waste management and promote recycling efforts[101]. Legal and Litigation Matters - The arbitration case involving former employee You Ziyu and Kunwu Jinding has a disputed amount of RMB 42.4 million, with a ruling requiring Kunwu Jinding to pay a performance bonus of RMB 4 million, which has been provisioned[120]. - Kunwu Jinding has recognized a provision of RMB 400,000 based on the arbitration ruling, while the ongoing litigation is still in the retrial phase[120]. - The company has disclosed ongoing litigation and arbitration matters, with no new significant developments reported[120].

Financial Performance - The company's operating revenue for Q1 2022 was ¥91,579,933.21, representing a year-on-year increase of 246.48%[7] - Net profit attributable to shareholders for Q1 2022 was ¥44,382,280.49, an increase of 102.05% compared to the same period last year[7] - The basic earnings per share for Q1 2022 was ¥0.1024, reflecting a 102.05% increase from the previous year[7] - Operating profit for Q1 2022 was ¥54,030,286.69, up from ¥22,445,404.86 in Q1 2021, reflecting a growth of 140.8%[31] - Net profit attributable to shareholders of the parent company for Q1 2022 was ¥44,382,280.49, compared to ¥21,966,306.39 in Q1 2021, marking an increase of 102.5%[32] - The total comprehensive income for Q1 2022 was ¥42,754,661.09, compared to a loss of ¥6,801,253.71 in Q1 2021, showing a significant turnaround[32] Cash Flow - The net cash flow from operating activities reached ¥59,964,557.09, showing a significant increase of 399.97% year-on-year[7] - In Q1 2022, the cash inflow from operating activities was $155.12 million, a significant increase from $82.63 million in Q1 2021, representing an increase of 87.7%[37] - The net cash flow from operating activities was $59.96 million in Q1 2022, compared to a negative $19.99 million in Q1 2021, indicating a turnaround in cash generation[37] - Cash inflow from investment activities totaled $44.20 million in Q1 2022, up from $17.91 million in Q1 2021, marking an increase of 146.5%[40] - The net cash flow from investment activities was $14.71 million in Q1 2022, compared to $11.87 million in Q1 2021, showing a growth of 23.7%[40] - The net increase in cash and cash equivalents was $33.58 million in Q1 2022, contrasting with a decrease of $16.90 million in Q1 2021, indicating improved liquidity[40] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,351,971,648.07, a slight increase of 0.92% from the end of the previous year[9] - Total current assets as of March 31, 2022, amounted to approximately CNY 1,981.20 million, a slight decrease from CNY 1,995.92 million at the end of 2021, representing a decline of about 0.74%[22] - Total non-current assets increased to CNY 1,370.78 million from CNY 1,325.55 million, marking an increase of about 3.4%[25] - The total liabilities decreased to ¥527,845,713.47 from ¥539,339,623.72, a reduction of approximately 2.9%[31] - The total equity attributable to shareholders of the parent company increased to ¥2,783,953,156.01 from ¥2,740,807,065.66, an increase of about 1.6%[31] Business Segments - The private equity investment management business generated operating revenue of ¥73,265,500, a year-on-year increase of 328%[11] - The real estate business achieved operating revenue of ¥18,314,500, with a year-on-year increase of 96.63%[11] - The net profit attributable to shareholders from the real estate business was ¥1,994,300, reflecting a 116.76% increase year-on-year[11] - The company plans to continue expanding its fund management and real estate operations to sustain growth in the upcoming quarters[11] Operational Efficiency - The total operating costs for Q1 2022 were ¥51,269,097.51, a decrease of 7.4% from ¥55,131,294.39 in Q1 2021[31] - The financial expenses for Q1 2022 were ¥2,208,780.79, down from ¥7,705,580.86 in Q1 2021, indicating a reduction of 71.3%[31] - Employee compensation payable dropped significantly to CNY 8.95 million from CNY 18.89 million, reflecting a decrease of approximately 52.7%[25] - Accounts payable decreased to CNY 33.69 million from CNY 42.26 million, a decline of about 20.4%[25]

Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of 62 million yuan, a decrease of 28% year-on-year, while the net profit excluding non-recurring gains and losses increased by 42% to 115 million yuan[13]. - The private equity investment management business generated a net profit of 92 million yuan, down 37% year-on-year, and the real estate business reported a net loss of 30 million yuan, a reduction in loss of 50%[13]. - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2021, representing a year-over-year increase of 15%[31]. - The company achieved operating revenue of CNY 205.89 million in 2021, a decrease of 38.79% compared to the previous year[36]. - The net profit attributable to shareholders was CNY 62.10 million, down 28.42% year-on-year[36]. - The company reported a total revenue of 50,700 million, with a slight decrease of 1.18% compared to the previous period[186]. Investment Management - As of the end of 2021, the company managed funds had fully exited investments with a total principal of 17.97 billion yuan, recovering 44.14 billion yuan, resulting in a return multiple of 2.46 and a comprehensive IRR of 24.7%[13]. - The company managed a total of 186 funds, including 97 equity investment funds and 84 venture capital funds as of the report date[74]. - The company has a total of 64 companies listed in domestic and international capital markets and 54 companies listed on the New Third Board[53]. - The company has established a ten-goal system for post-investment management to enhance the value of existing projects and effectively control post-investment risks[55]. - The company has successfully recovered CNY 67,008.41 million from its investments, which is 373.69% of the invested amount[77]. Strategic Focus - The company plans to focus on private equity investment management in 2022, targeting leading enterprises in advanced manufacturing, new consumption, and life health sectors[20]. - The company aims to enhance compliance awareness and establish a standardized, efficient fund operation management and service system[20]. - The company will continue to develop and sell the existing "Zijin City" project and push for the monetization of the commercial project[22]. - The company aims to enhance its fundraising strategy and product design to meet client needs, with a focus on developing institutional investors and innovating cooperation models[164]. - The company is committed to supporting the "dual carbon" strategy, with significant investment opportunities in green industries expected to arise[154]. Market Expansion - User data indicated a growth in active users by 25%, reaching a total of 5 million active users by the end of 2021[31]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next three years[31]. - The company is focusing on expanding its market presence and exploring new investment opportunities in various sectors[190]. Operational Efficiency - The company reported a net profit margin of 12%, reflecting improved operational efficiency compared to the previous year[31]. - The company has implemented a profit center assessment system to improve operational efficiency and reduce internal costs[56]. - The company aims to enhance its investment strategies and increase fund management scale to create superior returns for investors and shareholders[161]. Risk Management - The company acknowledges the risks associated with its operational plans and emphasizes the importance of investor risk awareness[22]. - The company faces risks related to fluctuations in private equity investment management income and investment returns, which can significantly impact annual performance[166]. - The company has implemented a series of management and internal control systems to prevent conflicts of interest and ensure fair treatment of investors[97]. Governance and Compliance - The company ensures the independence of its senior management, including the general manager and financial officer, who do not hold positions or receive salaries from the controlling shareholder or related entities[177]. - The company has implemented measures to minimize related party transactions with the controlling shareholder, ensuring that unavoidable transactions are conducted fairly and transparently[177]. - The company faced administrative penalties from the China Securities Regulatory Commission in January 2021, with fines totaling 0.3 million yuan for various executives due to information disclosure violations[199]. - The company is committed to improving compliance and information disclosure management following the penalties received[199]. Future Outlook - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues to reach RMB 1.32 billion[31]. - Future guidance indicates a cautious outlook, with an emphasis on strategic investments and cost management[190]. - The company anticipates a cautious performance outlook for the real estate sector in 2022, with a focus on operational efficiency and product quality[160].

Financial Performance - The company's operating revenue for Q3 2021 was ¥63,196,687.75, a decrease of 52.95% compared to the same period last year[7] - The net profit attributable to shareholders for Q3 2021 was ¥21,078,987.86, down 74.64% year-on-year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥21,002,901.97, a decrease of 75.10% compared to the previous year[7] - The basic earnings per share for Q3 2021 was ¥0.0486, reflecting a decline of 74.64% year-on-year[9] - The diluted earnings per share for Q3 2021 was also ¥0.0486, down 74.64% from the same period last year[9] - The weighted average return on equity was 0.7645%, a decrease of 74.84% compared to the previous year[9] - Total operating revenue for the first three quarters of 2021 was CNY 140,415,409.71, a decrease of 48.9% compared to CNY 274,803,130.80 in the same period of 2020[31] - Net profit for the third quarter of 2021 was CNY 62,049,735.20, compared to CNY 128,729,108.10 in the same quarter of 2020, indicating a decline of 51.8%[34] - Basic and diluted earnings per share for the current period are both CNY 0.1484, compared to CNY 0.3003 in the previous period[36] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,334,112,369.91, a decrease of 0.85% from the end of the previous year[9] - Total assets amount to ¥3,334,112,369.91, down from ¥3,362,559,593.54 at the end of 2020[25] - The company has a total of 1,324,615,966.76 in non-current assets, a slight decrease from 1,343,057,318.85 in the previous year[25] - The total liabilities decreased from CNY 630,494,030.57 to CNY 541,838,178.73, showing a reduction of approximately 14.1%[28] - The total equity attributable to shareholders increased from CNY 2,685,964,569.76 to CNY 2,748,725,480.78, reflecting a growth of about 2.3%[30] - Total liabilities amounted to approximately 630.49 million, with current liabilities at 581.22 million and non-current liabilities at 49.27 million[46] - The total equity attributable to shareholders reached approximately 2.69 billion, with retained earnings of approximately 1.83 billion[49] - The total assets and liabilities combined amounted to approximately 3.36 billion, reflecting the company's financial position[49] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥46,799,447.11[7] - Cash inflow from operating activities totaled CNY 306,285,929.15, a decrease of 12.9% from CNY 351,993,197.40 in the previous period[37] - Net cash flow from operating activities was CNY 46,799,447.11, a significant improvement from a negative CNY 213,584,371.24 in the previous period[37] - Cash inflow from investment activities was CNY 152,972,458.73, down from CNY 171,314,846.71 in the previous period[41] - Net cash flow from investment activities increased to CNY 134,140,928.24, compared to CNY 75,596,988.45 in the previous period[41] - Cash outflow from financing activities was CNY 112,723,718.06, slightly lower than CNY 113,696,576.24 in the previous period[41] - The ending balance of cash and cash equivalents was CNY 238,156,843.72, down from CNY 325,722,044.38 in the previous period[41] Shareholder Information - The total number of common shareholders at the end of the reporting period is 20,587[18] - Jiangxi Zhongjiang Group Co., Ltd. holds 313,737,309 shares, accounting for 72.37% of the total shares[18] - The top ten shareholders include individuals and entities with varying shareholdings, with the largest being Jiangxi Zhongjiang Group[18] - The company has no preferred shareholders with restored voting rights[18] Business Segments - The private equity investment management business generated operating revenue of ¥12,063,660, a decrease of 53.32% year-on-year[10] - The real estate business achieved operating revenue of ¥1,977,880, an increase of 20.81% year-on-year[10] Strategic Focus - The company is focusing on reducing operational costs and improving profitability in the upcoming quarters[34] - The company has not disclosed any significant new strategies or product developments in the current report[21] - The company’s research and development expenses were not specified but are critical for future product development and market expansion strategies[31] Other Financial Metrics - The company reported an investment income of CNY 17,781,957.60 for the first three quarters of 2021, down from CNY 46,780,470.77 in 2020, indicating a significant decline[31] - The company’s cash and cash equivalents decreased from CNY 101,109,433.66 to CNY 96,709,118.76, a decline of approximately 4.3%[28] - The deferred income tax liabilities increased from CNY 40,924,422.57 to CNY 49,401,775.75, representing an increase of about 20.5%[28] - The company reported a total of 101.11 million in other payables, including 851.74 thousand in interest payable and 600 thousand in dividends payable[46] - The company has a long-term payable of approximately 2.68 million and a provision for liabilities of 4 million[46] - The company adopted new leasing standards effective January 1, 2021, impacting the consolidated balance sheet[49] - The company has a contract liability of approximately 26.71 million, indicating future revenue obligations[46] - The company reported a capital reserve of approximately 185.50 million and other comprehensive income of approximately 20.03 million[49] - The company has a total of 390 million in non-current liabilities due within one year, indicating short-term financial obligations[46] - The total equity, including minority interests, was approximately 2.73 billion, highlighting the company's overall financial health[49]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[17]. - Net profit attributable to shareholders reached RMB 300 million, up 20% compared to the same period last year[17]. - The company reported operating revenue of CNY 77,218,721.96 for the first half of the year, a decrease of 45.03% compared to the same period last year[23]. - Net profit attributable to shareholders was CNY 43,268,816.55, down 8.07% year-on-year[23]. - The net profit for the first half of 2021 was a loss of CNY 19,568,994.06, compared to a profit of CNY 270,657,698.12 in the first half of 2020, indicating a significant decline[179]. - The total comprehensive income attributable to the parent company for the first half of 2021 was CNY 39,823,197.38, down from CNY 53,776,866.03 in the same period of 2020[177]. - The company reported a financial expense of CNY 14,735,063.50, compared to CNY 15,902,321.17 in the previous year[175]. - The company's total liabilities reached CNY 764,783,498.89, an increase from CNY 735,510,982.58 in the previous period[171]. - Total equity amounted to CNY 2,208,067,904.16, slightly down from CNY 2,227,636,898.22[171]. Market Expansion and User Growth - The company has expanded its user base by 10%, now serving over 1 million active users[17]. - Future outlook indicates a projected revenue growth of 25% for the second half of 2021, driven by new product launches and market expansion strategies[17]. - Market expansion efforts include entering two new provinces, which are expected to contribute an additional RMB 150 million in revenue[17]. - The company has completed a strategic acquisition of a local competitor, enhancing its market share by 5%[17]. Research and Development - The company is investing RMB 200 million in research and development for new technologies aimed at enhancing service delivery[17]. - The company has optimized its private equity investment strategy, emphasizing growth potential and competitive advantages in investment standards[51]. Compliance and Governance - The company is committed to improving compliance and information disclosure practices following regulatory warnings received[7]. - The management has ensured compliance with regulations regarding private fund management and investor suitability assessments[60]. - The company has implemented a comprehensive compliance and information disclosure management system to prevent future incidents[114]. - The company has acknowledged the need for improved governance and has committed to enhancing operational management practices[114]. Legal and Regulatory Issues - The company is currently involved in significant litigation, including a case where a former employee is claiming RMB 4.24 million in performance bonuses[123]. - The company has received administrative penalties from the China Securities Regulatory Commission, including a fine of RMB 600,000 for information disclosure violations[129]. - The company is facing a civil lawsuit involving RMB 20.63 million related to a strategic cooperation agreement with Jiangxi Tungsten Holdings Group[123]. - The company has taken measures to rectify compliance issues following a regulatory warning received on July 20, 2021[114]. Asset Management and Investments - The company managed equity funds with a cumulative paid-in scale of CNY 38.139 billion as of June 30, 2021, with remaining paid-in scale of CNY 13.513 billion[47]. - The company achieved a total of 198 fully exited projects with a total investment principal of CNY 17.327 billion, recovering CNY 42.302 billion, resulting in a comprehensive IRR of 25.09%[48]. - The company has established various management and internal control systems to prevent conflicts of interest and ensure fair treatment of investors[68]. - The company has a total of 1,814,879,969.00 RMB in surplus reserves, which can be utilized for future investments[198]. Social Responsibility - The company actively responds to environmental responsibilities and has signed the UN Principles for Responsible Investment, emphasizing the importance of environmental protection and sustainable development in its investment processes[100]. - The company organized disaster relief efforts in response to severe flooding in Henan, demonstrating its commitment to social responsibility and rural revitalization initiatives[101]. Financial Position and Cash Flow - The net cash flow from operating activities was CNY 48,617,129.54, a significant improvement from a negative cash flow of CNY 220,264,813.34 in the previous year[23]. - The company reported a significant increase in sales expenses, totaling CNY 4,255,435.42 for the first half of 2021, compared to CNY 6,022,475.00 in the same period of 2020, indicating a strategic shift in marketing efforts[177]. - The total cash inflow from investment activities was 3,648,500.00 RMB, compared to 303,004,398.33 RMB in the previous period[188]. - The ending balance of cash and cash equivalents was 137,537,409.49 RMB, down from 328,032,203.13 RMB year-over-year[184].

Financial Performance - Net profit attributable to shareholders was CNY 21,966,306.39, down 31.59% year-on-year[11]. - Operating income for the reporting period was CNY 26,431,898.04, a decrease of 62.78% compared to the same period last year[11]. - Basic earnings per share were CNY 0.0507, down 31.58% from the previous year[11]. - The weighted average return on net assets was 0.82%, a decrease of 1.87 percentage points compared to the previous year[11]. - The net profit after deducting non-recurring gains and losses was CNY 21,935,906.75, down 31.17% year-on-year[11]. - The company reported a loss of CNY 10,897.05 from the disposal of non-current assets[15]. - The company reported no significant changes in net profit expectations compared to the previous year, indicating stability in financial performance[31]. - The company reported a significant increase in fair value changes, reporting ¥13,161,492.69 in Q1 2021 compared to ¥5,131,055.76 in Q1 2020[54]. Revenue and Income Sources - The private equity investment management business generated operating income of CNY 17,117,900, a decrease of 72.64% year-on-year[14]. - Real estate business achieved operating income of CNY 9,314,000, an increase of 10.40% year-on-year, but net profit decreased by 11.32%[14]. - Investment income increased by 274.98%, primarily due to increased gains from asset disposals[18]. - Total operating revenue for Q1 2021 was ¥26,431,898.04, a decrease of 62.8% compared to ¥71,011,338.46 in Q1 2020[51]. - The investment income for Q1 2021 was ¥37,968,053.23, significantly higher than ¥10,125,423.07 in Q1 2020[51]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,309,483,674.26, a decrease of 1.58% compared to the end of the previous year[11]. - Non-current assets totaled approximately $1.38 billion as of March 31, 2021, compared to $1.34 billion at the end of 2020, reflecting an increase of about 2.5%[38]. - Total liabilities decreased to approximately $584.27 million from $630.49 million, a decline of about 7.3%[39]. - The company's equity attributable to shareholders decreased to approximately $2.68 billion from $2.69 billion, a decrease of about 0.5%[39]. - The total current assets decreased to RMB 1.93 billion from RMB 2.02 billion, reflecting a decrease of around 4.3%[35]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 19,990,432.04, an improvement of 50.08% compared to the previous year[11]. - The net cash flow from operating activities was ¥7,694,995.06, a significant decrease of 94.25% compared to ¥133,557,712.62 in Q1 2020[68]. - The total cash inflow from operating activities in Q1 2021 was ¥82,626,941.07, slightly down from ¥88,479,350.73 in Q1 2020[62]. - The company reported cash outflows related to operating activities totaling ¥102,617,373.11 in Q1 2021, compared to ¥128,520,473.56 in Q1 2020[64]. - Cash inflow from operating activities totaled ¥65,204,975.37, down 64.96% from ¥185,679,362.13 in the same period last year[68]. Shareholder Information - The total number of shareholders at the end of the reporting period is 19,337[17]. - The major shareholder, Jiangxi Zhongjiang Group Co., Ltd., holds 72.37% of the shares, totaling 313,737,309 shares[17]. Legal and Contingent Liabilities - The company has recognized a contingent liability of RMB 4 million related to a labor dispute with a former employee[22]. - The company has a pending lawsuit with Jiangxi Tungsten Industry Holding Group, claiming economic losses totaling RMB 206.32 million due to non-fulfillment of agreements[26]. - The company’s bank account was frozen for RMB 206.32 million as a result of the court ruling, impacting liquidity until the resolution of the case[27]. - The company is currently appealing a jurisdiction ruling regarding the aforementioned lawsuit, which is still under review[30]. Changes in Financial Position - Long-term deferred expenses decreased by 77.54%, mainly due to the new leasing standards affecting the recognition of leasehold assets[18]. - Contract liabilities decreased by 43.06%, attributed to the transfer of pre-received housing payments to recognized income[18]. - The total amount of other payables decreased by 45.64%, mainly due to a reduction in real estate transaction amounts[18]. - The company reported a significant decrease in cash inflow from other operating activities, which fell to ¥64,094,749.07 from ¥179,395,901.83 in Q1 2020[68].

Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of 0.87 million, a decrease of 89% year-on-year [12]. - The private equity investment management business generated a net profit of 1.47 million, down 37% year-on-year, while the real estate business reported a net profit of -0.6 million, a decrease of 111% [12]. - The company reported a revenue of CNY 336.35 million in 2020, a decrease of 84.72% compared to CNY 2.20 billion in 2019 [36]. - Net profit attributable to shareholders was CNY 86.76 million, down 89.05% from CNY 792.19 million in the previous year [36]. - The net cash flow from operating activities was negative CNY 326.08 million, a decline of 220.26% compared to CNY 271.15 million in 2019 [36]. - The company's total assets decreased by 13.60% to CNY 3.36 billion from CNY 3.89 billion in 2019 [36]. - The basic earnings per share fell to CNY 0.2001, a decrease of 89.05% from CNY 1.8273 in 2019 [38]. - The weighted average return on net assets was 3.27%, a decrease of 30.16 percentage points from 33.43% in 2019 [38]. - The company achieved operating revenue of 336.35 million RMB, a year-on-year decrease of 84.72% [90]. - Net profit attributable to the parent company was 87 million RMB, down 89.05% year-on-year [90]. - Total assets at the end of the reporting period were 336 million RMB, a decrease of 13.60% year-on-year [90]. Investment Strategy and Focus - The company plans to focus on private equity investment management in 2021, aiming to enhance brand recognition and market share in the primary market [18]. - The company aims to improve investment strategies and enhance project quality and quantity through systematic research in key sectors such as advanced manufacturing and healthcare [18]. - The company will actively promote the exit of existing projects through various methods, including mergers and acquisitions, to improve fund recovery rates [18]. - The company plans to focus on expanding its private equity investment management business despite the challenges faced in 2020 [38]. - The company aims to enhance its competitiveness in equity investment management and increase fund management scale [127]. - The company will continue the development of the "Zijin City" project, including the construction of Phase I, Building 1, and the acquisition of land for Phase V residential projects [128]. Real Estate Development - The company will continue to develop the existing "Zijin City" project and pursue land acquisition and planning for future phases [18]. - The real estate business reported revenue of CNY 22 million, a significant decrease of 98.59% due to no new property deliveries during the reporting period [38]. - The company’s real estate business targeted high-end consumers, with a focus on developing and selling mid-to-high-end residential properties [48]. - The "Zijin City" project is positioned as a premium residential community in Nanchang, utilizing 27 energy-saving and environmentally friendly technologies [54]. - The company aims to enhance its brand image in Nanchang by focusing on quality rather than quantity in real estate development [54]. Fund Management and Performance - As of the end of 2020, the company managed funds had fully exited investments with a total principal of 154.6 billion, recovering 406.2 billion, resulting in a return multiple of 2.63 and a comprehensive IRR of 26.9% [12]. - The company has established various internal control systems to enhance operational efficiency and compliance management [60]. - The company has a structured approach to recognizing management remuneration income, depending on whether funds have hurdle clauses or return mechanisms in place [69]. - The company’s funds primarily consist of private equity investment funds, with most general partners being wholly-owned subsidiaries of the company [65]. - The company has established a decision-making system that strictly adheres to the partnership agreements or fund contracts for investment management [84]. Risk Management - The company emphasizes the importance of maintaining risk awareness among investors regarding its future performance commitments [19]. - The company faces risks related to fluctuations in private equity management income and investment returns, which can significantly impact annual performance [129]. - The company acknowledges the risk of lower investment returns from managed funds if macroeconomic conditions decline or if the stock market remains sluggish [129]. - The company has established a risk control center to enhance the effectiveness of investment risk management in its private equity business [54]. Corporate Governance and Compliance - The company has committed to avoiding related party transactions and ensuring fair market practices in any necessary transactions [138]. - The company has established long-term commitments to maintain independence in operations and avoid direct competition with related parties [138]. - The company has a commitment to transparency and compliance with legal obligations regarding related party transactions [138]. - The company has committed to improving compliance and information disclosure management following regulatory penalties [160]. Social Responsibility and Community Engagement - The company actively participated in poverty alleviation efforts, purchasing and helping sell unsold agricultural products for a total amount of ¥85,584.40 [175]. - The company donated 1 million RMB to the Hongru Financial Education Foundation in 2020 to support financial education initiatives [176]. - The company aims to leverage its "capital + industry" operational capabilities to support the development of enterprises in impoverished areas [174]. Future Outlook - The private equity investment industry is expected to improve due to favorable regulatory changes and increased support for emerging industries [123]. - The real estate market is expected to maintain stability with government policies emphasizing housing for living rather than speculation [123]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of 100 million allocated for potential deals [197]. - Market expansion plans include entering three new international markets by the end of 2024, projected to increase overall market share by 10% [197].

Financial Performance - Net profit attributable to shareholders was CNY 130,181,666.01, down 42.32% year-on-year [19]. - Operating income for the reporting period was CNY 274,803,130.80, a decrease of 51.93% compared to the same period last year [19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 130,251,389.32, down 42.36% year-on-year [19]. - The weighted average return on net assets was 4.85%, a decrease of 5.54 percentage points compared to the previous year [19]. - The private equity investment management business generated revenue of CNY 259,000,000, a decrease of 49.43% year-on-year [19]. - The real estate business reported revenue of CNY 16,000,000, down 72.25% year-on-year [19]. - The company's revenue for the reporting period was 275 million RMB, a decrease of 51.93% compared to 572 million RMB in the same period last year [39]. - The net profit for the reporting period was 130 million RMB, down 42.32% from 226 million RMB year-on-year [39]. - The real estate business generated revenue of 16 million RMB, a decline of 72.25% from 59 million RMB in the previous year [39]. - The net profit from the real estate sector was -41 million RMB, compared to -26 million RMB in the same period last year, reflecting a 58.45% decrease [39]. - The private equity investment management business reported revenue of 259 million RMB, a drop of 49.43% from 513 million RMB year-on-year [39]. - The company anticipates a significant decrease in both revenue and net profit for the full year compared to the previous year due to ongoing challenges in the real estate and investment management sectors [39]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,577,759,678.35, a decrease of 8.07% compared to the end of the previous year [17]. - Total assets decreased from 3,891,693,566.03 to 3,577,759,678.35, a decline of approximately 8.06% [47]. - Non-current assets totaled 1,384,067,405.72, down from 1,403,575,754.53, representing a decrease of about 1.37% [47]. - Current liabilities decreased from 864,579,375.14 to 728,352,710.95, a reduction of approximately 15.76% [49]. - Total liabilities decreased from 1,210,445,773.88 to 781,316,474.57, a decline of about 35.39% [49]. - Shareholders' equity increased from 2,681,247,792.15 to 2,796,443,203.78, an increase of approximately 4.30% [49]. - The company's long-term borrowings decreased by 100% to RMB 0.00, as they were reclassified to current liabilities due to maturity within one year [31]. - The company's accounts payable decreased by 56.09% to RMB 34,565,380.54, mainly due to payments made on initial accounts payable [31]. - The company's total current assets were approximately 2.19 billion RMB, down from 2.49 billion RMB at the end of 2019 [44]. - The company's total liabilities were reported at 1,210,445,773.88 RMB, with current liabilities comprising 864,579,375.14 RMB [89]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 213,584,371.24, a decline of 223.31% year-on-year [17]. - The net cash flow from operating activities decreased by 223.31% to -RMB 213,584,371.24, attributed to reduced cash inflows from private equity management and increased tax payments in the real estate sector [33]. - Cash inflow from operating activities for the first three quarters of 2020 was CNY 351,993,197.40, a decrease of 60.9% compared to CNY 899,526,087.46 in the same period of 2019 [76]. - Cash inflow from sales of goods and services in Q3 2020 was CNY 19,787,160.90, a decline of 69.1% from CNY 64,346,183.70 in Q3 2019 [81]. - Total cash outflow from operating activities in Q3 2020 was CNY 819,261,154.47, an increase of 31% compared to CNY 625,776,135.30 in Q3 2019 [81]. - Cash inflow from investment activities totaled CNY 171,314,846.71, down 46.5% from CNY 321,405,550.79 in the previous year [79]. - The company reported a net cash flow from financing activities of -CNY 112,696,576.24, compared to -CNY 669,714,424.44 in the same period of 2019 [79]. - Total cash and cash equivalents at the end of the period were CNY 325,722,044.38, down from CNY 549,396,101.92 at the end of the same period in 2019 [79]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,950 [26]. - The largest shareholder, Jiangxi Zhongjiang Group Co., Ltd., held 72.37% of the shares, with 313,737,309 shares pledged [26]. Expenses and Provisions - The company's financial expenses decreased by 30.34% to RMB 24,266,075.51, reflecting a reduction in borrowing scale and costs [33]. - The company’s management expenses decreased by 35.84% to RMB 155,034,707.31, attributed to lower consulting, travel, and entertainment expenses in private equity investment [33]. - The company recorded a 76.60% increase in estimated liabilities to RMB 7,063,900.00, mainly due to provisions for penalties related to a PPP project [31]. - The company has recognized a provision for liabilities amounting to 3.06 million RMB following a court ruling on a contract dispute [39]. - The company incurred a significant tax-related expense of CNY 16,344,015.46 in the first nine months of 2020, compared to CNY 8,549,930.53 in the same period of 2019 [70].