证券代码：600119 证券简称：长江投资 公告编号：2023-016 长发集团长江投资实业股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会 的公告 （一） 会议召开时间：2023 年 6 月 30 日（星期五）下午 15:00- 16:00 （二）会议召开地点：上证路演中心 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。 重要内容提示： 会议召开时间：2023 年 6 月 30 日(星期五) 下午 15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 6 月 21 日(星期三) 至 6 月 29 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通 过公司邮箱 cjtzdb@cjtz.cn 进行提问。公司将在说明会上对投资者 普遍关注的问题进行回答。 长发集团长江投资实业股份有限公司（以下简称"公司"）已于 2023 年 4 月 25 ...

Financial Performance - The company reported a total revenue of ¥1,271,575,887.23 in 2022, representing a 15.52% increase compared to ¥1,100,751,029.41 in 2021[11] - The net profit attributable to shareholders was a loss of ¥14,209,652.85 in 2022, an improvement from a loss of ¥135,051,832.86 in 2021[12] - The net cash flow from operating activities was ¥88,676,626.25, a decrease of 6.04% from ¥94,378,369.03 in 2021[12] - The company’s basic earnings per share were -¥0.04 in 2022, compared to -¥0.37 in 2021, indicating an improvement[12] - The company’s weighted average return on equity was -6.96% in 2022, an increase of 41.50 percentage points from -48.46% in 2021[12] - The net profit attributable to shareholders was -14.21 million yuan, an increase of 120.84 million yuan compared to the same period last year, reflecting a year-on-year growth of 89.48%[21] - The company achieved operating revenue of 1,271.58 million yuan, representing a year-on-year growth of 15.52%[20] Shareholder Information - The company has a total of 25,949 ordinary shareholders as of the end of the reporting period[16] - The largest shareholder, Changjiang Economic United Development Group, holds 167,418,761 shares, accounting for 45.83% of total shares[17] - The second largest shareholder, Wuhan Financial Holding Group, holds 11,009,181 shares, representing 3.01% of total shares[17] - The company has no significant changes in shareholder relationships or actions that could affect control[19] Asset and Dividend Information - The total assets decreased by 4.61% to ¥773,649,728.44 in 2022 from ¥811,014,493.41 in 2021[11] - The company plans not to distribute cash dividends for 2022 due to negative retained earnings[4] Legal and Operational Status - The company is actively pursuing legal actions to protect its rights regarding the renewal of mining rights for its subsidiary, which has faced significant uncertainty[9] - The report indicates no significant changes in the company's operational status that would impact future performance[20] - There are no indications of delisting risks or termination of listing conditions for the company[21] Business Development - The company has established a leading position in the luxury car logistics sector and is steadily developing its international freight forwarding business[8] - The company has not disclosed any new product or technology developments during the reporting period[20] - There are no reported mergers or acquisitions in the current financial period[20] - The company has not provided specific future guidance or market expansion strategies in the conference call[20]

Financial Performance - The company achieved a total revenue of ¥1,271,575,887.23 in 2022, representing a year-over-year increase of 15.52% compared to ¥1,100,751,029.41 in 2021[22]. - The net profit attributable to shareholders was a loss of ¥14,209,652.85 in 2022, an improvement from a loss of ¥135,051,832.86 in 2021[22]. - The basic earnings per share for 2022 was -¥0.04, compared to -¥0.37 in 2021, indicating a significant reduction in losses[23]. - The total assets at the end of 2022 were ¥773,649,728.44, down 4.61% from ¥811,014,493.41 at the end of 2021[22]. - The company reported a net cash flow from operating activities of ¥88,676,626.25 in 2022, a decrease of 6.04% from ¥94,378,369.03 in 2021[22]. - The weighted average return on equity improved to -6.96% in 2022, up 41.50 percentage points from -48.46% in 2021[23]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a 20% year-over-year growth[96]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency compared to the previous year[97]. Audit and Compliance - A standard unqualified audit report was issued by the accounting firm for the financial statements of the company[6]. - The board of directors confirmed the authenticity, accuracy, and completeness of the annual report, with no false records or misleading statements[6]. - The company maintained compliance with the Shanghai Stock Exchange's independence requirements, ensuring asset and operational independence[88]. - The company has not faced any delisting risk or significant non-compliance issues during the reporting period[148]. - The company’s internal control audit report confirms effective financial reporting controls in all significant aspects, with no fraud or major misstatements identified[112]. - The company is committed to improving its governance and internal controls, ensuring compliance with legal and regulatory requirements[86]. Risk Management - The company has outlined potential risks in the management discussion and analysis section, emphasizing the uncertainties in future plans and projections[7]. - The company has established a risk management framework, conducting regular risk assessments across investment, funding, and inventory management[35]. - The company is actively pursuing administrative litigation regarding the renewal of mining rights for the Niutoushan copper mine, which has significant uncertainty[33]. - The company is pursuing arbitration for a performance compensation of RMB 80,419,900 (8,041.99万元) related to unmet profit commitments from the investment in Shihuo International Logistics[137]. - The company’s legal counsel has assessed the uncertainty of the arbitration outcome, making it difficult to predict the financial impact on the company[139]. Business Development - The company plans to explore new projects to expand its business scope while stabilizing existing operations[30]. - The company aims to leverage opportunities in the automotive logistics sector, particularly with the rise of new energy vehicles, to expand its market share and solidify its leading position in luxury car logistics[75]. - The company is focused on expanding its market share in luxury car logistics and enhancing its technological capabilities in meteorological services[39]. - The company plans to establish a joint venture with Shanghai Zhongfu Travel Group to penetrate the long-term rental apartment market in the Yangtze River Delta region, enhancing its service offerings[76]. - The company is committed to enhancing its competitive strength and profitability through the expansion of its employee accommodation business[113]. Employee and Management - The company is focusing on talent development and has implemented a comprehensive employee training plan for 2022 to enhance overall team quality[34]. - The total remuneration for senior management during the reporting period amounted to 309.67 million CNY[93]. - The company’s workforce includes 1 PhD, 17 master's degree holders, and 87 bachelor's degree holders, indicating a diverse educational background[116]. - The company has no retired employees or layoffs, indicating stable employment conditions[115]. - The company is focused on enhancing the capabilities and efficiency of its leadership team to achieve strategic objectives[87]. Environmental and Social Responsibility - The company invested ¥277,900 in environmental protection during the reporting period[126]. - A subsidiary received an administrative penalty of ¥140,000 for non-compliance with water pollution discharge standards, but this will not significantly impact the company's operations or finances[127]. - The company invested a total of RMB 100,000 (10万元) in poverty alleviation and rural revitalization projects, benefiting 416 people in the Menglong Village community[130]. - The company signed a three-year assistance agreement with Menglong Village, committing a total of RMB 300,000 (30万元) for the period from 2023 to 2025[131]. - The company has adjusted its assistance projects based on the actual needs of Menglong Village, demonstrating a commitment to social responsibility[130]. Financial Management - The company approved a plan to invest up to RMB 170 million in short-term guaranteed financial products using idle funds, with a rolling authorization period of 1 year[155]. - The company has a total of RMB 83 million in entrusted financial management with an expected annual return rate ranging from 0.3% to 2.025%[157]. - The company has a total of RMB 35 million in 7-day notice deposits with an annualized return of 1.85%[157]. - The company has a total of RMB 30 million in structured deposits with an expected annual return rate of 2.79% to 4.05%[157]. - The company has not reported any significant changes in its share capital structure during the reporting period[161].

Financial Performance - The company's operating revenue for Q1 2023 was ¥192,723,360.92, representing a decrease of 39.79% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥3,988,545.33, with a net profit loss excluding non-recurring items of ¥4,748,128.52[5]. - Net profit for Q1 2023 was a loss of ¥3.42 million, an improvement from a loss of ¥7.02 million in Q1 2022, representing a 51.3% reduction in losses[22]. - Basic and diluted earnings per share were both -¥0.01[6]. - The company reported a basic and diluted earnings per share of -¥0.01 for both Q1 2023 and Q1 2022, indicating no change in per-share performance despite the overall loss reduction[23]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥8,227,212.57[5]. - Operating cash flow for Q1 2023 was a net outflow of ¥8.23 million, compared to a net outflow of ¥13.77 million in Q1 2022, indicating a 40.5% improvement[23]. - Cash and cash equivalents at the end of Q1 2023 totaled ¥227.16 million, an increase from ¥175.54 million at the end of Q1 2022[24]. - Investment activities generated a net cash inflow of ¥24.43 million in Q1 2023, compared to a net inflow of ¥4.04 million in Q1 2022, marking a significant increase[24]. - Financing activities resulted in a net cash outflow of ¥7.12 million in Q1 2023, an improvement from a net outflow of ¥9.44 million in Q1 2022[24]. Assets and Liabilities - Total assets at the end of the reporting period were ¥762,207,772.22, down 1.48% from the end of the previous year[6]. - As of March 31, 2023, the total current assets amounted to RMB 575,242,278.37, a slight decrease from RMB 578,354,360.76 at the end of 2022, representing a decline of approximately 0.19%[17]. - Total liabilities decreased to RMB 405,832,873.67 from RMB 416,104,194.35, showing a reduction of about 2.93%[19]. - The total assets as of March 31, 2023, were RMB 762,207,772.22, down from RMB 773,649,728.44, which is a decrease of approximately 1.13%[19]. - The company's total equity decreased to RMB 356,374,898.55 from RMB 357,545,534.09, reflecting a decline of about 0.33%[19]. Operational Metrics - The significant decrease in operating revenue was primarily due to reduced sales in international freight forwarding and meteorological products[10]. - Operating costs decreased by 41.04%, aligning with the drop in sales[11]. - Total operating costs for Q1 2023 were ¥197.13 million, down 39.5% from ¥326.17 million in Q1 2022[21]. - The company's inventory decreased to RMB 32,929,193.45 from RMB 35,814,438.16, representing a decline of about 8.06%[17]. - The company experienced a decrease in sales expenses to ¥2.99 million in Q1 2023, down 56.9% from ¥6.96 million in Q1 2022[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,737[13]. - Shareholders' equity attributable to the company was ¥193,190,919.51, a decrease of 2.02% from the previous year-end[6].

证券代码：600119 证券简称：长江投资 编号：2022-001 长发集团长江投资实业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------|------------------------------------------|----------------------------------------------------------| | | | | | | □特定对象调研 □分析师会议 | | | | □媒体采访 | 业绩说明会 | | 投资者关系活 | □新闻发布会 □路演活动 | | | 动类别 | □现场参观 | □电话通讯 | | | □其他 （请文字说明其他活动内容） | | | 时间 2022 | 年 6 月 17 日 15:00 | 至 16:00 | | | 地点 网络文字互动 | | | | | | | 上市公司接待 | 董事长：鲁国锋先生 | 董事、总经理：李乐先生 | | 人员姓名 | | 独立董事：袁敏先生 副总经理：姚菊龙先生 | | | | 财务总监：朱立萌女士 董事会秘书：施嶔宇先生 | | | | 长发集团长江投 ...

Financial Performance - Operating revenue rose by 49.54% to CNY 678,627,054.01 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 115.75% to CNY -1,606,038.27 compared to the same period last year[8] - Net cash flow from operating activities decreased by 65.09% to CNY 19,684,393.60 compared to the same period last year[8] - The weighted average return on net assets decreased by 3.66 percentage points to -0.76%[8] - Basic and diluted earnings per share were both CNY -0.004, a decrease of 113.33% compared to the same period last year[8] Assets and Shareholder Information - Total assets increased by 6.96% to CNY 867,443,589.75 compared to the end of the previous year[6] - The total number of shareholders as of the report date was 25,079[9] - The largest shareholder, Changjiang Economic United Development Group, holds 45.83% of the shares[9] Operational Status - No significant changes in the company's operational situation were reported during the period[12] - The report was not audited, and all directors attended the board meeting[7]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥678,627,054.01, representing a 49.54% increase compared to ¥453,811,894.35 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was a loss of ¥1,606,038.27, a decrease of 115.75% from a profit of ¥10,195,683.78 in the previous year[20]. - The net cash flow from operating activities decreased by 65.09%, amounting to ¥19,684,393.60 compared to ¥56,389,631.71 in the same period last year[20]. - The basic earnings per share for the first half of 2022 was -¥0.004, a decrease of 113.33% from ¥0.03 in the same period last year[21]. - The weighted average return on net assets was -0.76%, a decrease of 3.66 percentage points from 2.90% in the previous year[21]. - The operating cost increased by 57.67% to RMB 648,121,634.09 from RMB 411,063,750.25, primarily due to increased sales from subsidiaries[39]. - The company reported a significant increase in inventory, which rose by 62.11% to RMB 66,528,879.27, attributed to increased performance costs from subsidiaries[43]. - The company recorded a 149.28% increase in contract liabilities, reaching RMB 56,071,251.66, due to new performance obligations in logistics and meteorological enterprises[43]. - The company reported a financial expense of -¥5,361,411.42, compared to a financial expense of ¥8,050,270.84 in the previous year[92]. - The company's net loss for the first half of 2022 was ¥102,579.92, compared to a net loss of ¥6,716,455.38 in the first half of 2021[92]. Assets and Liabilities - The total assets at the end of the reporting period were ¥867,443,589.75, an increase of 6.96% from ¥811,014,493.41 at the end of the previous year[21]. - Total assets for the first half of 2022 amounted to 867 million, with total liabilities of 501 million and equity of 366 million, of which equity attributable to shareholders was 210 million[31]. - The total liabilities of the company increased to RMB 444,731,473.17, indicating a rise in financial obligations[85]. - The total current assets reached RMB 644,519,498.76, compared to RMB 568,583,301.78 at the beginning of the year, showing an increase of approximately 13.36%[84]. - The total owner's equity at the end of the reporting period was 365,828,876.89, reflecting a decrease of 4,859,559.15 compared to the previous period[107]. Investments and Acquisitions - The company has invested 48 million to acquire a 60% stake in Anqing Wanyu Mining Co., which is involved in copper and silver mining, but has faced uncertainties regarding mining rights[27]. - The company plans to acquire a 30% stake in Shanghai Changjiang Tianji Engineering Management Co., Ltd. for RMB 900,000, which will enhance its project management capabilities[35]. - The company has initiated a renewal application for the mining rights of the Niutoushan Copper Mine, which expired on March 11, 2022[34]. Operational Challenges and Strategies - The company faces challenges from a complex macroeconomic environment, including demand contraction and supply shocks, impacting some business operations[49]. - The company has identified difficulties in acquiring quality investment project resources due to market growth structure differentiation and intensified competition[49]. - The company is committed to enhancing asset management and has implemented a framework for effective control between parent and subsidiary companies[32]. - The company aims to reduce management and financial expenses to enhance profitability, focusing on controlling unnecessary management costs and lowering borrowing rates[120]. - The company is actively pursuing overdue receivables to mitigate credit risk and improve cash flow[120]. Governance and Compliance - The company has implemented new internal audit and risk management systems to enhance governance and compliance[36]. - The company received an administrative penalty of 140,000 yuan due to non-compliance with water pollution discharge standards by its subsidiary, Changwang Technology, but this will not significantly impact its operations or financials[58]. - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[19]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 25,079, with no preferred shareholders having restored voting rights[72]. - The company has 57,870,370 shares under lock-up conditions, which will become tradable on January 7, 2024[77]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[56]. Financial Reporting and Accounting Policies - The company did not report any changes in accounting policies or prior period error corrections during this period[107]. - The company's financial statements are prepared based on the assumption of going concern, indicating no significant uncertainty in its ongoing operations for the foreseeable 12 months[121]. - The company adheres to the accounting standards for business combinations, recognizing long-term equity investments based on the fair value of assets and liabilities at the acquisition date[126][127]. Revenue Recognition - The company recognizes revenue when control of goods is transferred to the customer, which includes conditions such as contract approval and clear payment terms[186]. - Revenue is primarily categorized into logistics service revenue, product sales revenue, and leasing revenue[188]. - Logistics services revenue is recognized at a specific point in time upon delivery and acceptance by the customer[188]. Employee Compensation and Benefits - Employee compensation includes various forms of remuneration, with short-term compensation recognized as a liability and included in current period expenses[178]. - The company recognizes long-term employee benefits based on defined contribution plans and defined benefit plans, with costs recognized in the current period[182].

Financial Performance - The company's operating revenue for Q1 2022 was ¥320,082,181.70, representing a year-on-year increase of 32.19%[5] - The net profit attributable to shareholders of the listed company was -¥4,482,170.21, indicating a non-applicable change[5] - The net cash flow from operating activities was -¥13,774,564.36, showing a non-applicable change[5] - Total operating revenue for Q1 2022 was CNY 320,082,181.70, an increase of 32.2% compared to CNY 242,144,003.02 in Q1 2021[21] - Net loss for Q1 2022 was CNY 7,021,472.45, compared to a net loss of CNY 664,030.83 in Q1 2021[22] - Operating profit for Q1 2022 was CNY -6,748,156.21, a decline from CNY -774,557.69 in Q1 2021[21] - The company reported a basic and diluted earnings per share of CNY -0.01 for Q1 2022, compared to CNY 0.00 in Q1 2021[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥799,819,972.65, a decrease of 1.38% compared to the end of the previous year[6] - As of March 31, 2022, the total assets of the company amounted to RMB 799,819,972.65, a decrease from RMB 811,014,493.41 at the end of 2021, reflecting a decline of approximately 1.5%[17] - The company's current assets totaled RMB 571,525,319.75, slightly up from RMB 568,583,301.78 at the end of 2021, indicating a marginal increase of about 0.3%[17] - The company's total liabilities stood at RMB 571,525,319.75, with short-term borrowings at RMB 170,478,444.43, which remained relatively stable compared to RMB 171,508,444.43 in the previous period[18] - Total liabilities as of Q1 2022 were CNY 436,153,009.06, slightly down from CNY 440,326,057.37 in the previous quarter[21] - Total equity attributable to shareholders was CNY 206,860,447.48, a decrease from CNY 211,342,617.69 in the previous quarter[21] Cash Flow - Cash flow from operating activities for Q1 2022 was CNY -13,774,564.36, compared to CNY -9,771,681.92 in Q1 2021[24] - The company’s cash inflow from operating activities was CNY 306,404,035.72, compared to CNY 169,518,593.62 in Q1 2021[24] - Cash flow from financing activities showed a net outflow of $9,439,494.81, compared to a net outflow of $11,639,659.15 in the previous period, reflecting improved cash management[25] - The company's cash and cash equivalents at the end of the period were $175,538,810.66, down from $194,434,697.73 at the beginning of the period[25] Research and Development - The company's research and development expenses decreased by 47.23% due to reduced personnel and investment in subsidiaries[11] - The company incurred research and development expenses of CNY 691,172.46 in Q1 2022, down from CNY 1,309,738.24 in Q1 2021[21] Investment Income - The company's investment income decreased by 79.52% primarily due to reduced dividends from associated companies[11] - Net cash flow from investment activities was $4,038,139.57, compared to $3,163,083.42 in the previous period, indicating a positive trend[25] - Total cash inflow from investment activities amounted to $45,214,583.80, while cash outflow was $41,176,444.23, resulting in a net inflow[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,248[13] Other Financial Metrics - The weighted average return on net assets was -2.14%, a decrease of 2.07 percentage points[6] - The company reported a significant decrease in non-operating income by 97.38% due to reduced penalty compensation received[11] - The company reported a significant increase in accounts payable, rising to RMB 111,224,678.18 from RMB 95,117,754.19, which is an increase of approximately 17%[18] - The company has a long-term investment of RMB 23,890,184.23, down from RMB 31,754,483.93, indicating a decrease of about 24.8%[18] - The company’s inventory was reported at RMB 42,159,275.78, showing a slight increase from RMB 41,038,902.94, which is an increase of approximately 2.7%[18] - The company has not disclosed any new product developments or market expansion strategies in the current report[15]

Financial Performance - The company's operating revenue for 2021 was CNY 1,100,751,029.41, representing a 120.39% increase compared to CNY 499,465,181.41 in 2020[20]. - The net profit attributable to shareholders was CNY -135,051,832.86, a decline from CNY -96,871,375.66 in the previous year[20]. - The cash flow from operating activities increased by 254.16% to CNY 94,378,369.03, up from CNY 26,648,205.73 in 2020[21]. - The company reported a significant increase in revenue from core business activities, with a total of CNY 1,098,032,223.52, up 121.61% from the previous year[20]. - The company achieved an operating income of 1.1 billion RMB in 2021, while the net profit attributable to shareholders was -135.05 million RMB[30]. - The basic and diluted earnings per share for 2021 were both -0.37 RMB, compared to -0.32 RMB in 2020[22]. - The weighted average return on equity improved to -48.46% in 2021 from -63.35% in 2020, an increase of 14.89 percentage points[22]. - The company reported quarterly revenues of 242.14 million RMB in Q1, 211.67 million RMB in Q2, 300.29 million RMB in Q3, and 346.65 million RMB in Q4 of 2021[23]. - The company recognized impairment losses totaling 115.02 million yuan, significantly impacting net profit due to uncertainties in mining rights[60]. - A goodwill impairment loss of 102.61 million yuan was recorded, reducing net profit attributable to shareholders by 51.30 million yuan[62]. Assets and Liabilities - Total assets decreased by 18.64% to CNY 811,014,493.41 at the end of 2021, down from CNY 996,851,375.38 at the end of 2020[21]. - The net assets attributable to shareholders decreased by 39.16% to CNY 211,342,617.69 at the end of 2021, compared to CNY 347,371,220.51 at the end of 2020[21]. - The total assets at the end of 2021 amounted to 811.01 million RMB, with total liabilities of 440.33 million RMB, and equity attributable to shareholders of the listed company was 211.34 million RMB[30]. - Cash and cash equivalents at the end of the period amounted to 194,434,697.73 RMB, representing 23.97% of total assets, an increase of 27.21% from the previous period[69]. - Trade financial assets increased by 60.00% to 53,385,476.13 RMB, primarily due to year-end financial management activities[69]. - Accounts receivable decreased by 27.44% to 242,821,399.40 RMB, mainly due to the reduction in the scope of consolidation from the disposal of the subsidiary[69]. - Total liabilities decreased by 25.50% in short-term borrowings to 171,508,444.43 RMB, reflecting the repayment of part of the borrowings[69]. - The company reported a significant decrease in goodwill by 68.20% to 23,924,550.74 RMB, attributed to goodwill impairment provisions[69]. Governance and Compliance - The board of directors confirmed the authenticity and completeness of the financial report, ensuring no significant omissions or misleading statements[4]. - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[7]. - The company completed the election of the board of directors and the supervisory board in April 2021, ensuring compliance with legal and regulatory requirements[84]. - The supervisory board diligently performed its supervisory functions, overseeing the operations of the board of directors and senior management, as well as monitoring financial conditions and periodic report preparation[85]. - The company maintained independence from its controlling shareholder, with no guarantees provided to the controlling shareholder or its affiliates during the reporting period[85]. - The company revised its articles of association and related governance documents to enhance corporate governance and ensure orderly operations of the shareholders' meetings[86]. - The company established a management and performance assessment system for leadership compensation, aligning with regulatory requirements[87]. - The audit committee held 6 meetings during the reporting period, ensuring the accuracy and completeness of the 2020 financial statements, which reflect the company's financial condition and operating results without any fraud or significant misstatements[110]. Strategic Initiatives - The company is focusing on enhancing management and control over subsidiaries to improve quality and efficiency[30]. - The company plans to strengthen its governance mechanisms and improve internal control systems for better compliance with management requirements[30]. - The company has implemented comprehensive budget management and strengthened financial control over Shihao International to minimize arbitration impacts on its future development[31]. - Longfa International Freight has focused on enhancing service capabilities and efficiency, particularly in the photovoltaic and chemical logistics sectors, to capitalize on market opportunities amid high freight rates[31]. - The company aims to leverage opportunities in the automotive logistics sector, particularly with the rise of new energy vehicles, to expand market share and enhance service quality[77]. - The company plans to stabilize existing operations while exploring new business opportunities, focusing on improving management capabilities and reducing operational risks[80]. - The company is committed to high-quality development during the "14th Five-Year Plan" period, addressing historical issues and restoring profitability[79]. - The company will continue to optimize its business structure and improve client management to enhance operational efficiency and profitability[80]. Social Responsibility and Community Engagement - The company allocated 100,000 RMB for poverty alleviation and infrastructure projects in Menglong Village, Yunnan Province, with specific construction plans including 33 square meters of concrete surface and 3,000 meters of water barriers[134]. - The company has committed to social responsibility initiatives, focusing on employee welfare, safety, and community support, including participation in the "Hundred Enterprises Help Hundred Villages" program[132]. - The company has been recognized for its contributions to epidemic prevention efforts during the COVID-19 pandemic, receiving accolades for its operational support[133]. - The company emphasizes a people-oriented approach in its management, focusing on employee development and social responsibility awareness[132]. Financial Management and Investments - The company approved the use of idle self-owned funds for short-term wealth management products up to RMB 10,000 million in April 2020 and increased the limit to RMB 17,000 million in April 2021[157]. - The company invested RMB 10,850 million in bank wealth management products with a remaining balance of RMB 9,550 million[156]. - The company engaged in various wealth management activities with annualized returns ranging from 1.3% to 3.54%[160]. - The company has a total of RMB 20,100 million in government bond reverse repos with an annualized return of 2.08%[160]. - The company has a total of RMB 50,000 million in structured deposits with annualized returns between 1.40% and 3.40%[160]. - The company has a total of RMB 8,000 million in notice deposit business with an annualized return of 0.3% to 2.025%[160]. - The company has a total of RMB 15,000 million in structured deposits with an annualized return of 1.3% to 3.42%[160]. - The company has no overdue amounts in its wealth management activities[156]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 20,919, a decrease from 22,248 at the end of the previous month[175]. - The top shareholder, Changjiang Economic United Development (Group) Co., Ltd., held 167,418,761 shares, representing 45.83% of total shares, with an increase of 57,870,370 shares during the reporting period[177]. - The company issued 57,870,370 new shares at a price of 4.32 RMB per share on January 7, 2021[173]. - The report indicates that there are no changes in the controlling shareholder or actual controller during the reporting period[182]. - The company has no existing employee stock ownership plans[175]. Employee and Management Structure - The company reported a total of 413 employees, with 27 in the parent company and 386 in major subsidiaries[117]. - The employee composition includes 240 production personnel, 34 sales personnel, 50 technical personnel, 26 financial personnel, and 63 administrative personnel[118]. - The company has established a performance evaluation mechanism for senior management, linking compensation to operational performance and key objectives[119]. - The company's management team has extensive experience in finance and investment, with several members holding key positions in other financial institutions[100]. - The company’s governance structure includes a mix of experienced professionals from diverse backgrounds in finance and management[100].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 300,290,101.94, representing a year-on-year increase of 154.06%[5] - The net profit attributable to shareholders was a loss of CNY 2,358,457.41, with a year-to-date net profit of CNY 7,837,226.37, which is not applicable for year-on-year comparison[5] - The company's operating revenue increased by 135.27% compared to the previous period, primarily due to increased sales from subsidiaries in international freight and other sectors[10] - The net profit attributable to shareholders was 1,142,734.17 yuan, reflecting a significant increase from the previous year's 21,379,878.94 yuan[10] - Total revenue for the first three quarters of 2021 reached ¥754,101,996.29, a significant increase from ¥320,523,043.95 in the same period of 2020, representing a growth of approximately 134%[22] - The net profit for the first three quarters of 2021 was ¥9,576,739.56, a turnaround from a net loss of ¥33,978,297.91 in the same period of 2020[23] - Operating profit for the first three quarters of 2021 was ¥12,676,754.93, compared to a loss of ¥37,596,908.35 in 2020, showing a significant improvement[23] - Total comprehensive income for the period amounted to CNY 9,576,739.56, a decrease of 33,978,297.91 compared to the previous period[24] Cash Flow and Assets - The cash flow from operating activities for the year-to-date period was CNY 61,263,996.29, showing an increase of 283.30%[6] - Cash inflow from operating activities for the first three quarters was CNY 825,023,516.98, up from CNY 445,133,882.65 in the same period last year, representing an increase of 85.2%[26] - Cash and cash equivalents at the end of the period totaled CNY 200,436,375.32, an increase from CNY 161,514,900.50 at the end of the previous period[27] - The company's cash and cash equivalents increased to ¥200,460,975.32 from ¥152,845,985.32, representing a growth of approximately 31%[19] - The total assets at the end of the reporting period were CNY 1,051,891,511.93, reflecting a 5.52% increase compared to the end of the previous year[6] - Current assets decreased slightly to ¥584,501,825.42 from ¥591,870,296.06 at the end of 2020, reflecting a decline of about 1%[19] - Total liabilities as of September 30, 2021, were ¥530,609,385.25, an increase from ¥478,323,766.34 at the end of 2020[20] Shareholder Information - The equity attributable to shareholders at the end of the reporting period was CNY 354,078,676.92, which is a 1.93% increase from the previous year[6] - The total number of common shareholders at the end of the reporting period was 19,873[13] - Basic and diluted earnings per share for the current period were both -CNY 0.01, compared to CNY 0.02 for the same period last year[6] - Basic and diluted earnings per share were both CNY 0.02, compared to a loss of CNY 0.11 in the previous period[24] Expenses and Liabilities - The company's total operating costs for the first three quarters of 2021 were ¥761,160,067.30, compared to ¥365,837,816.13 in 2020, indicating an increase of about 108%[22] - The company’s financial expenses decreased by 56.62%, mainly due to a reduction in loan scale and interest rates[10] - Current liabilities totaled ¥461,370,611.27, with short-term borrowings at ¥230,226,541.65 and accounts payable at ¥126,702,094.94[29] - Non-current liabilities reached ¥16,953,155.07, including lease liabilities of ¥67,040,230.84[30] Investments and Other Financial Activities - The company reported an investment income of ¥13,885,668.03 for the first three quarters of 2021, a significant increase from ¥1,419,177.45 in the same period of 2020[23] - Cash inflow from investment activities was CNY 980,113,107.53, compared to CNY 1,405,224,961.58 in the previous year, indicating a decrease of 30.2%[26] - The company received CNY 151,223,897.08 from borrowings, down from CNY 800,000,000.00 in the previous year[26] Risks and Future Outlook - The company is actively negotiating with performance compensation parties regarding adjustments to the performance compensation plan, indicating potential future financial implications[15] - The company has identified a risk of goodwill impairment related to the underperformance of its subsidiary, Shihuo International, in 2021[15] - The company has not disclosed any new product developments or market expansion strategies in this report[4] - There were no significant mergers or acquisitions reported during this quarter[4]