[Important Notice](index=3&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) [Statement on Report Authenticity](index=3&type=section&id=1.1%20%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%8F%8A%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E4%BF%9D%E8%AF%81%E5%AD%A3%E5%BA%A6%E6%8A%A5%E5%91%8A%E5%86%85%E5%AE%B9%E7%9A%84%E7%9C%9F%E5%AE%9E%E3%80%81%E5%87%86%E7%A0%AE%E3%80%81%E5%AE%8C%E6%95%B4) The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions, and assumes legal responsibility; this quarterly report is unaudited - The company's Board of Directors, Supervisory Board, and senior management ensure the truthfulness, accuracy, and completeness of the report - This company's Q1 report is **unaudited** [Company Profile](index=3&type=section&id=%E4%BA%8C%E3%80%81%20%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) [Key Financial Data](index=3&type=section&id=2.1%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) In Q1 2020, the company achieved operating revenue of **RMB 67.46 billion**, a **25.25% year-on-year increase**, with net profit attributable to shareholders of the listed company surging by **233.88% to RMB 1.47 billion**, primarily due to the recognition of revenue and profit from the 'Xiamen 2019P05' land primary development project by a subsidiary in this period, while net cash flow from operating activities was **-RMB 15.54 billion**, indicating increased cash outflow pressure Key Financial Data for Q1 2020 | Metric | Current Period | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 67.46 billion | 53.86 billion | 25.25% | | Net Profit Attributable to Shareholders of Listed Company (RMB) | 1.47 billion | 439.62 million | 233.88% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) (RMB) | 1.03 billion | 370.45 million | 178.80% | | Net Cash Flow from Operating Activities (RMB) | -15.54 billion | -5.09 billion | Not Applicable | | Basic Earnings Per Share (RMB/share) | 0.52 | 0.16 | 225.00% | | Weighted Average Return on Net Assets (%) | 4.62% | 1.58% | 增加3.04个百分点 | - The significant year-on-year increase in net profit attributable to the parent company is primarily due to the recognition of revenue and profit from the 'Xiamen 2019P05' land primary development project by a subsidiary in this period[4](index=4&type=chunk) - Total non-recurring gains and losses for this period amounted to **RMB 435 million**, mainly from fair value changes and investment income generated by held-for-trading financial assets and derivative financial instruments, as well as government subsidies[6](index=6&type=chunk) [Shareholder Information](index=5&type=section&id=2.2%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had **87,340 shareholders**, with Xiamen C&D Group Co., Ltd. as the controlling shareholder, holding **45.89%** of shares, and the top ten shareholders including Hong Kong Securities Clearing Company Limited, China Pacific Life Insurance, China Securities Finance Corporation Limited, and various social security and pension insurance funds, indicating broad institutional investor participation - As of the end of the reporting period, the total number of shareholders was **87,340**[7](index=7&type=chunk) Top Five Shareholders' Shareholding Status | Shareholder Name | Shares Held (shares) | Proportion (%) | | :--- | :--- | :--- | | Xiamen C&D Group Co., Ltd. | 1,301,203,376 | 45.89 | | Hong Kong Securities Clearing Company Limited | 103,543,979 | 3.65 | | China Pacific Life Insurance Co., Ltd.－Traditional－Ordinary Insurance Products | 96,829,804 | 3.42 | | China Securities Finance Corporation Limited | 84,868,979 | 2.99 | | China Pacific Life Insurance Co., Ltd.－Dividend－Individual Dividend | 66,384,907 | 2.34 | - The company has no preferred shareholders[8](index=8&type=chunk) [Significant Events](index=7&type=section&id=%E4%B8%89%E3%80%81%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Analysis of Significant Changes in Key Financial Statement Items](index=7&type=section&id=3.1%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) During this reporting period, several financial statement items of the company experienced significant changes; regarding assets and liabilities, derivative financial assets and short-term borrowings significantly increased due to business development and accounting standard changes, while long-term receivables and advances from customers were adjusted accordingly; on the income statement, investment income and fair value change gains significantly grew due to profitability from futures hedging activities, and the increase in total profit led to a corresponding rise in income tax expense; in terms of cash flow, net cash outflow from operating activities expanded, mainly due to increased working capital occupied by the expanding supply chain business, while net cash inflow from financing activities significantly increased, reflecting the company's expanded financing scale [Analysis of Balance Sheet Item Changes](index=7&type=section&id=3.1.1%20%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Key balance sheet changes include: derivative financial assets soaring by **2435.66%** due to increased unrealized gains from commodity futures contracts; short-term borrowings growing by **198.41%** to meet financing needs for supply chain business; accounts receivable increasing by **41.22%** due to land development projects and supply chain business growth; long-term receivables decreasing by **67.40%** due to settlement of real estate primary land development projects; additionally, the adoption of new revenue standards led to new 'contract assets' and 'contract liabilities' accounts, and 'advances from customers' being reclassified to zero into new accounts Key Balance Sheet Change Items | Account | Change (%) | Reason for Change | | :--- | :--- | :--- | | Derivative Financial Assets | 2435.66% | Due to increased unrealized gains from commodity futures contracts at the end of the reporting period | | Short-term Borrowings | 198.41% | Due to increased financing scale for supply chain business in the reporting period | | Receivables Financing | 139.77% | Due to increased sales settled with bank acceptance bills in supply chain business during the reporting period | | Long-term Receivables | -67.40% | Due to settlement of real estate primary land development projects in the reporting period | | Other Current Liabilities | 389.20% | Due to the adoption of new revenue standards and increased issuance of short-term financing bills | | Advances from Customers | -100.00% | Due to the adoption of new revenue standards, items reclassified to contract liabilities and other current liabilities | [Analysis of Income Statement Item Changes](index=8&type=section&id=3.1.2%20%E5%88%A9%E6%B6%A6%E8%A1%A8%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Key income statement changes include: investment income increasing by **626.29%** year-on-year, and fair value change gains increasing by **289.95%** year-on-year, both primarily due to increased realized and unrealized profits from commodity futures hedging activities; other income grew by **169.02%** due to increased government subsidies; credit impairment losses and asset impairment losses significantly increased, mainly due to increased provision for bad debts from larger accounts receivable and increased inventory impairment provisions; income tax expense increased by **299.09%** year-on-year due to higher total profit Key Income Statement Change Items | Account | Change (%) | Reason for Change | | :--- | :--- | :--- | | Investment Income | 626.29% | Due to increased investment income from commodity futures hedging compared to the prior year | | Gains from Changes in Fair Value | 289.95% | Due to increased unrealized gains from commodity futures hedging contracts in the reporting period | | Other Income | 169.02% | Due to increased government subsidies related to income compared to the prior year | | Credit Impairment Losses | Not Applicable | Due to increased provision for bad debts from larger accounts receivable in the reporting period | | Asset Impairment Losses | Not Applicable | Due to unrealized losses on spot goods under futures hedging business, leading to increased inventory impairment provisions | | Income Tax Expense | 299.09% | Due to increased total profit in the reporting period, leading to a corresponding increase in income tax expense | [Analysis of Cash Flow Statement Item Changes](index=9&type=section&id=3.1.3%20%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E5%8F%98%E5%8A%A8) In terms of cash flow, net cash flow from operating activities decreased from **-RMB 5.09 billion** in the prior period to **-RMB 15.54 billion**, mainly due to expanded supply chain business, increasing prepayments and inventory capital occupation; net cash outflow from investing activities expanded, primarily due to increased payments for cooperative real estate projects; net cash inflow from financing activities surged by **171.65%** year-on-year to **RMB 26.98 billion**, reflecting the company's expanded financing scale Key Cash Flow Statement Change Items | Account | Current Period (RMB) | Prior Period (RMB) | Reason for Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -15.54 billion | -5.09 billion | Expanded supply chain business, increasing prepayments and inventory capital occupation at period-end | | Net Cash Flow from Investing Activities | -3.63 billion | -140.52 million | Increased payments for cooperative real estate projects compared to the prior year | | Net Cash Flow from Financing Activities | 26.98 billion | 9.93 billion | Increased financing scale compared to the prior year | [Progress of Significant Events](index=10&type=section&id=3.2%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) The most significant event during the reporting period was the company's recognition of revenue from the 'Xiamen 2019P05' land primary development project; the land plot was successfully transferred in December 2019 and physically delivered on January 3, 2020; according to revenue recognition criteria, the company settled related revenue and recognized profit in Q1 2020, which was the core driver of the significant profit growth in this period - The 'Xiamen 2019P05' land primary development project, entrusted by the government to a subsidiary, was physically delivered on January 3, 2020, and the company recognized related revenue and profit in Q1 2020[15](index=15&type=chunk) [Other Significant Matters](index=10&type=section&id=3.3%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no overdue unfulfilled commitments and did not issue any warnings regarding potential cumulative net loss or significant changes in net profit from the beginning of the year to the end of the next reporting period - The company has no overdue unfulfilled commitments[15](index=15&type=chunk) - The company has not issued a profit warning[15](index=15&type=chunk) [Appendix](index=10&type=section&id=%E5%9B%9B%E3%80%81%20%E9%99%84%E5%BD%95) [Financial Statements](index=10&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This appendix contains the company's unaudited consolidated and parent company financial statements for Q1 2020, including the balance sheet, income statement, and cash flow statement, which comprehensively reflect the company's financial position at the end of the reporting period, as well as its operating results and cash flows during the period [Consolidated Balance Sheet](index=10&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of March 31, 2020, the company's total assets were **RMB 334.36 billion**, a **13.19%** increase from the beginning of the year; total liabilities were **RMB 268.19 billion**, a **16.97%** increase; and equity attributable to parent company owners was **RMB 32.52 billion**, a **5.29%** increase Consolidated Balance Sheet Summary (2020-03-31) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 334.36 billion | | Total Liabilities | 268.19 billion | | Total Equity Attributable to Parent Company Owners | 32.52 billion | | Total Liabilities and Equity | 334.36 billion | [Consolidated Income Statement](index=15&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1 2020, the company achieved total operating revenue of **RMB 67.46 billion**, a **25.25%** year-on-year increase; operating profit was **RMB 3.27 billion**, a **343.97%** year-on-year increase; net profit attributable to parent company shareholders was **RMB 1.47 billion**, a **233.88%** year-on-year increase; and basic earnings per share was **RMB 0.52** Consolidated Income Statement Summary (Q1 2020) | Item | Amount (RMB) | | :--- | :--- | | I. Total Operating Revenue | 67.46 billion | | III. Operating Profit | 3.27 billion | | IV. Total Profit | 3.26 billion | | Net Profit Attributable to Parent Company Shareholders | 1.47 billion | | VIII. Basic Earnings Per Share (RMB/share) | 0.52 | [Consolidated Cash Flow Statement](index=18&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In Q1 2020, net cash flow from operating activities was **-RMB 15.54 billion**, net cash flow from investing activities was **-RMB 3.63 billion**, and net cash flow from financing activities was **RMB 26.98 billion**; cash and cash equivalents at period-end totaled **RMB 36.98 billion** Consolidated Cash Flow Statement Summary (Q1 2020) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | -15.54 billion | | Net Cash Flow from Investing Activities | -3.63 billion | | Net Cash Flow from Financing Activities | 26.98 billion | | V. Net Increase in Cash and Cash Equivalents | 7.83 billion | [Impact of Accounting Standard Changes](index=21&type=section&id=4.2%202020%20%E5%B9%B4%E8%B5%B7%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E6%96%B0%E6%94%B6%E5%85%A5%E5%87%86%E5%88%99%E3%80%81%E6%96%B0%E7%A7%9F%E8%B5%81%E5%87%86%E5%88%99%E8%B0%83%E6%95%B4%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E5%BD%93%E5%B9%B4%E5%B9%B4%E5%88%9D%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) Effective January 1, 2020, the company adopted the Ministry of Finance's revised 'Accounting Standard for Business Enterprises No. 14 – Revenue'; in accordance with transitional provisions, the company adjusted its financial statements as of the initial adoption date (January 1, 2020), primarily reclassifying original 'advances from customers' and some 'deferred income' to 'contract liabilities' and 'other current liabilities', and making corresponding adjustments to 'contract assets', 'inventories', and retained earnings, without retrospective adjustment of comparable period information - The company adopted the new revenue standard effective January 1, 2020, adjusting the financial statement items at the beginning of the year based on cumulative impact, without retrospective adjustment of comparable period information[37](index=37&type=chunk)[39](index=39&type=chunk) Impact of New Revenue Standard Adoption on Key Consolidated Balance Sheet Items at Year-Start | Item | Before Adjustment (2019-12-31) | After Adjustment (2020-01-01) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Accounts Receivable | 6.98 billion | 6.14 billion | -835.11 million | | Contract Assets | 0 | 835.11 million | 835.11 million | | Advances from Customers | 81.10 billion | 0 | -81.10 billion | | Contract Liabilities | 0 | 75.69 billion | 75.69 billion | | Other Current Liabilities | 3.19 billion | 9.21 billion | 6.02 billion | | Undistributed Profits | 24.18 billion | 24.29 billion | 114.42 million | [Audit Report](index=25&type=section&id=4.4%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This quarterly report is unaudited - This quarterly financial report is subject to an 'Not Applicable' audit report, meaning it is **unaudited**[40](index=40&type=chunk)

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 4,675,776,510.82 in 2019, a slight increase of 0.08% compared to RMB 4,672,023,584.96 in 2018[5]. - Total operating revenue for 2019 was RMB 337,238,672,648.40, representing a year-on-year growth of 20.28% from RMB 280,381,790,726.29 in 2018[16]. - The net cash flow from operating activities increased significantly by 134.61% to RMB 11,215,065,397.85 in 2019, compared to RMB 4,780,265,299.45 in 2018[17]. - The company's total assets reached RMB 295,398,664,300.95 at the end of 2019, marking a 35.84% increase from RMB 217,453,940,226.69 in 2018[17]. - The basic earnings per share remained stable at RMB 1.65 in 2019, unchanged from 2018[18]. - The weighted average return on equity decreased to 16.07% in 2019, down by 2.22 percentage points from 18.29% in 2018[18]. - The net profit after deducting non-recurring gains and losses was RMB 4,140,401,078.62, reflecting a decrease of 2.48% from RMB 4,245,887,468.12 in 2018[16]. - The company reported a substantial increase in trading financial assets, with a year-end balance of CNY 670.87 million, reflecting a change of CNY 406.44 million during the year[25]. - The company achieved a customer satisfaction rate ranking first in the real estate industry according to a survey by Saiwei Consulting[57]. Dividend and Capital Management - The company plans to distribute a cash dividend of RMB 5.00 per 10 shares, totaling RMB 1,417,600,265.00, based on the total share capital of 2,835,200,530 shares as of December 31, 2019[5]. - In 2019, the company distributed a cash dividend of 1,417,600,265 RMB, representing 30.32% of the net profit attributable to ordinary shareholders[156]. - The cash dividend policy stipulates a minimum annual distribution of 10% of the available profit, ensuring transparency and compliance with regulations[153]. - The company has maintained a consistent cash dividend distribution strategy over the past three years, with a total cash distribution of 3,402,240,637 RMB[156]. Supply Chain Operations - The supply chain operation business remains a core focus, providing diverse services across various sectors, including logistics and finance[27]. - The company aims to optimize operational efficiency and reduce risks through its comprehensive supply chain solutions[27]. - The company has a robust risk control system and decision-making mechanism to ensure the safe operation of its supply chain business[27]. - The company's supply chain operations exceeded RMB 280 billion in 2019, establishing it as a leading supply chain operator in China[139]. - The company will continue to innovate in supply chain services, integrating logistics, information, finance, and trading to enhance service capabilities[138]. Real Estate Development - In 2019, the company's real estate development business expanded to over 30 cities across China, with a focus on key regions such as the Yangtze River Delta and South China[30]. - The company's subsidiary, Jianfa Real Estate, ranked 37th in the "Top 50 Real Estate Development Enterprises in China" for 2020, while another subsidiary, Lianfa Group, ranked 45th in the "Top 100 Real Estate Development Enterprises" for the same year[30]. - The real estate development business reported revenue of CNY 45.91 billion, up CNY 5.33 billion, or 13.15% year-on-year[53]. - The company’s contract sales amounted to CNY 99.50 billion, a year-on-year growth of 35.20%[54]. - The company has established a strong risk management system to address various risks, including financial management and commodity price fluctuations, which is a core competitive advantage[35]. Project Management and Expansion - The company has several planned projects, including residential and commercial developments in cities like Zhangzhou and Nanchang, with a total planned construction area of 1,000,000 square meters[82]. - The company is currently constructing the Junling Shoufu project in Zhangzhou, which has an area of 116,201.59 square meters and a 100% equity ratio[85]. - The company is expanding its market presence with new projects in cities like Chengdu and Sydney, with respective areas of 39,640.18 square meters and 7,663.00 square meters[83]. - The company has a significant ongoing project in Xiamen, the Jingyue City, with an area of 117,701.55 square meters and a 49% equity ratio[85]. - The company is focusing on residential and commercial developments, with a mix of equity ratios ranging from 47.6% to 100% across various projects[84]. Environmental Compliance - The company’s environmental impact is managed with compliance to standards, as evidenced by the monitoring reports from its subsidiaries[185]. - Average COD concentration in wastewater after treatment is 52.52 mg/L, significantly below the standard limit of 100 mg/L, with a total discharge of 386.8 tons[186]. - The company has conducted regular environmental inspections and monitoring, ensuring compliance with emission standards[190]. - The company disposed of 1,287.7 tons of general solid waste and 107.055 tons of hazardous waste in 2019, following legal disposal procedures[188]. Strategic Outlook - The company plans to actively explore new business areas such as health care, elderly care, tourism, and cultural creativity to extend its industrial chain[140]. - The overall growth rate of the real estate industry has slowed, with a 5.67% decrease in commodity housing sales compared to the previous year[137]. - The company intends to leverage the strategic opportunity of the central government's support for Fujian's accelerated development to expand its international market presence[143]. - The company will focus on risk control and market analysis to mitigate potential risks in the supply chain operations sector[143]. - The company is committed to sustainable development practices in its new projects, focusing on energy efficiency and environmental impact reduction[120].

[Item I. Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) The company provides a statement regarding the accuracy and completeness of this quarterly report [1.1-1.4 Company Statement](index=3&type=section&id=1.1-1.4%20Company%20Statement) The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, disclaiming any false statements, misleading representations, or material omissions, and assume legal responsibility; this quarterly report is unaudited - The company's management guarantees the report content's truthfulness, accuracy, and completeness, assuming corresponding legal responsibilities[3](index=3&type=chunk) - This company's Q3 2019 report is unaudited[3](index=3&type=chunk) [Item II. Company Overview](index=3&type=section&id=Item%20II.%20Company%20Overview) This section provides an overview of the company's key financial performance and shareholder structure as of the reporting period end [2.1 Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) As of the end of Q3 2019, the company's total assets increased by 36.62% from the end of the previous year, with Q1-Q3 revenue at **210.36 billion CNY** and net profit attributable to shareholders at **1.82 billion CNY** 2019 Q1-Q3 Key Financial Data | Indicator | 2019 Q1-Q3 (CNY) | 2018 Q1-Q3 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 210,357,718,883.51 | 183,263,437,293.11 | 14.78% | | Net Profit Attributable to Shareholders | 1,824,994,690.69 | 1,717,781,723.78 | 6.24% | | Net Cash Flow from Operating Activities | -9,202,584,905.84 | -13,164,119,623.39 | N/A | | Basic Earnings Per Share (CNY/share) | 0.64 | 0.61 | 4.92% | | Weighted Average Return on Net Assets (%) | 6.46% | 7.06% | Decrease of 0.6 percentage points | | **Indicator** | **September 30, 2019 (CNY)** | **December 31, 2018 (CNY)** | **Change from Year-End (%)** | | Total Assets | 297,079,090,945.52 | 217,453,940,226.69 | 36.62% | | Net Assets Attributable to Shareholders | 27,978,403,613.13 | 27,555,574,865.30 | 1.53% | 2019 Q1-Q3 Non-Recurring Gains and Losses | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 156,504,523.17 | Primarily gains from subsidiary C&D Real Estate's exit from Shenzhen Longhu Mountain Villa project | | Government Grants | 128,021,263.91 | - | | Funds Occupancy Fees from Non-Financial Enterprises | 170,030,199.28 | Funds occupancy fees collected by subsidiary C&D Real Estate from joint development project associates | | **Total** | **391,930,134.95** | - | [2.2 Total Shareholders, Top Ten Shareholders, and Top Ten Circulating Shareholders at Period-End](index=5&type=section&id=2.2%20Total%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20at%20Period-End) As of the end of the reporting period, the company had **85,635 shareholders**, with Xiamen C&D Group Co., Ltd. as the largest shareholder holding **45.89%** - As of the end of the reporting period, the company had **85,635 shareholders**[7](index=7&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Percentage (%) | | :--- | :--- | :--- | | Xiamen C&D Group Co., Ltd. | 1,301,203,376 | 45.89 | | Hong Kong Securities Clearing Company Limited | 166,139,678 | 5.86 | | China Pacific Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Products | 96,829,804 | 3.42 | | China Securities Finance Corporation Limited | 84,868,979 | 2.99 | | China Pacific Life Insurance Co., Ltd. - Dividend - Individual Dividend | 66,384,907 | 2.34 | [2.3 Total Preferred Shareholders, Top Ten Preferred Shareholders, and Top Ten Unrestricted Preferred Shareholders at Period-End](index=6&type=section&id=2.3%20Total%20Preferred%20Shareholders%2C%20Top%20Ten%20Preferred%20Shareholders%2C%20and%20Top%20Ten%20Unrestricted%20Preferred%20Shareholders%20at%20Period-End) The company had no preferred shareholders at the end of the reporting period - The company had no preferred shareholders at the end of the reporting period[9](index=9&type=chunk) [Item III. Significant Matters](index=7&type=section&id=Item%20III.%20Significant%20Matters) This section details significant changes in the company's financial statement items and other important matters during the reporting period [3.1 Significant Changes and Reasons for Key Financial Statement Items and Indicators](index=7&type=section&id=3.1%20Significant%20Changes%20and%20Reasons%20for%20Key%20Financial%20Statement%20Items%20and%20Indicators) During the reporting period, several financial statement items experienced significant changes, primarily driven by business expansion, increased financing, and improved cash flow from operations Major Balance Sheet Item Changes (Compared to Year-End) | Account | Change (%) | Reason | | :--- | :--- | :--- | | Prepayments | 138.97% | Supply chain business prepayments for procurement and real estate land transfer fees increased | | Inventories | 39.84% | New real estate development projects and expanded supply chain inventory increased | | Other Current Assets | 118.82% | Deductible input VAT, wealth management product balances, and prepaid taxes increased | | Short-term Borrowings | 165.24% | Financing scale for supply chain business increased | | Contract Liabilities (formerly Advances from Customers) | 96.70% | Pre-sale receipts from real estate business and advance receipts for supply chain goods increased | | Non-current Liabilities Due Within One Year | 146.88% | Borrowings, bonds, and ABS projects maturing within one year increased | Major Income Statement Item Changes (Year-on-Year) | Account | Change (%) | Reason | | :--- | :--- | :--- | | Interest Income | 75.03% | Interest income from structured deposits increased | | Other Income | 123.35% | Government grants received increased | | Non-operating Income | 229.38% | Compensation and liquidated damages received increased | Major Cash Flow Statement Item Changes (Year-on-Year) | Account | 2019 Q1-Q3 (CNY) | Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -9,202,584,905.84 | Faster sales collection in supply chain business and increased pre-sale receipts in real estate business, leading to a narrower net outflow year-on-year | | Net Cash Flow from Investing Activities | -2,212,434,973.67 | Last year, subsidiary C&D Real Estate redeemed large wealth management products; similar activities decreased this period | | Net Cash Flow from Financing Activities | 13,695,684,753.78 | Decrease in supply chain business financing scale and increase in real estate business debt repayment, leading to a year-on-year decrease in net inflow | [3.2-3.4 Other Significant Matters](index=9&type=section&id=3.2-3.4%20Other%20Significant%20Matters) The company has no significant matters to disclose, no overdue unfulfilled commitments, and no forecast of significant changes in cumulative net profit for the next reporting period - During the reporting period, the company had no significant matters requiring disclosure, no overdue unfulfilled commitments, or earnings warnings[14](index=14&type=chunk) [Item IV. Appendix](index=10&type=section&id=Item%20IV.%20Appendix) This section provides the unaudited financial statements and explanations for accounting standard changes [4.1 Financial Statements](index=10&type=section&id=4.1%20Financial%20Statements) This section presents the unaudited consolidated and parent company financial statements as of September 30, 2019, including the balance sheet, income statement, and cash flow statement [Consolidated Balance Sheet](index=10&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2019, the company's total assets reached **297.08 billion CNY**, a **36.6%** increase from the beginning of the year, with total liabilities at **243.20 billion CNY** and equity attributable to parent company owners at **27.98 billion CNY** Consolidated Balance Sheet Summary (September 30, 2019) | Item | Amount (CNY) | | :--- | :--- | | Total Assets | 297,079,090,945.52 | | Total Liabilities | 243,203,206,052.93 | | Total Equity Attributable to Parent Company Owners | 27,978,403,613.13 | | Non-controlling Interests | 25,897,481,279.46 | | Total Owners' Equity | 53,875,884,892.59 | [Parent Company Balance Sheet](index=12&type=section&id=Parent%20Company%20Balance%20Sheet) As of September 30, 2019, the parent company's total assets were **22.67 billion CNY**, total liabilities were **13.29 billion CNY**, and total owners' equity was **9.38 billion CNY** Parent Company Balance Sheet Summary (September 30, 2019) | Item | Amount (CNY) | | :--- | :--- | | Total Assets | 22,667,490,915.90 | | Total Liabilities | 13,291,741,726.91 | | Total Owners' Equity | 9,375,749,188.99 | [Consolidated Income Statement](index=14&type=section&id=Consolidated%20Income%20Statement) For Q1-Q3 2019, the company achieved total operating revenue of **210.36 billion CNY**, a **14.8%** year-on-year increase, with net profit attributable to parent company shareholders at **1.82 billion CNY**, up **6.2%** Consolidated Income Statement Summary (2019 Q1-Q3) | Item | 2019 Q1-Q3 (CNY) | 2018 Q1-Q3 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 210,357,718,883.51 | 183,263,437,293.11 | | Operating Profit | 3,162,922,032.92 | 3,110,092,386.06 | | Total Profit | 3,224,874,205.95 | 3,102,694,992.61 | | Net Profit | 2,377,135,033.43 | 2,282,085,485.12 | | Net Profit Attributable to Parent Company Shareholders | 1,824,994,690.69 | 1,717,781,723.78 | | Basic Earnings Per Share (CNY/share) | 0.64 | 0.61 | [Parent Company Income Statement](index=16&type=section&id=Parent%20Company%20Income%20Statement) For Q1-Q3 2019, the parent company reported operating revenue of **1.13 billion CNY** and net profit of **1.18 billion CNY**, primarily driven by investment income of **1.07 billion CNY** Parent Company Income Statement Summary (2019 Q1-Q3) | Item | 2019 Q1-Q3 (CNY) | 2018 Q1-Q3 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 1,130,621,323.90 | 1,509,766,396.65 | | Operating Profit | 1,211,421,075.51 | 800,357,167.18 | | Investment Income | 1,070,592,502.52 | 876,515,605.38 | | Net Profit | 1,178,556,894.57 | 860,539,182.16 | [Consolidated Cash Flow Statement](index=18&type=section&id=Consolidated%20Cash%20Flow%20Statement) For Q1-Q3 2019, net cash flow from operating activities was **-9.20 billion CNY**, an improvement from **-13.16 billion CNY** in the prior year, with net cash outflow from investing activities at **2.21 billion CNY** and net cash inflow from financing activities at **13.70 billion CNY** Consolidated Cash Flow Statement Summary (2019 Q1-Q3) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -9,202,584,905.84 | | Net Cash Flow from Investing Activities | -2,212,434,973.67 | | Net Cash Flow from Financing Activities | 13,695,684,753.78 | | Net Increase in Cash and Cash Equivalents | 2,326,611,588.71 | | Cash and Cash Equivalents at Period-End | 21,238,645,587.44 | [Parent Company Cash Flow Statement](index=20&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) For Q1-Q3 2019, the parent company experienced a net cash outflow from operating activities of **1.24 billion CNY**, a net cash inflow from investing activities of **0.41 billion CNY**, and a net cash outflow from financing activities of **0.70 billion CNY**, resulting in a net decrease of **1.52 billion CNY** in cash and cash equivalents Parent Company Cash Flow Statement Summary (2019 Q1-Q3) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -1,240,678,730.76 | | Net Cash Flow from Investing Activities | 413,666,053.85 | | Net Cash Flow from Financing Activities | -702,166,239.15 | | Net Increase in Cash and Cash Equivalents | -1,523,640,607.02 | | Cash and Cash Equivalents at Period-End | 3,092,620,849.45 | [4.2-4.3 Explanation of Accounting Standard Changes and Adjustments](index=21&type=section&id=4.2-4.3%20Explanation%20of%20Accounting%20Standard%20Changes%20and%20Adjustments) The company adopted new financial instrument standards from January 1, 2019, leading to reclassification and remeasurement of certain financial assets and retrospective adjustments to opening retained earnings and other comprehensive income - The company adopted new financial instrument standards effective **January 1, 2019**, adjusting the classification and measurement of financial assets[37](index=37&type=chunk)[41](index=41&type=chunk) - Key adjustments include: adding "Receivables Financing" as a new item; reclassifying "Financial Assets Measured at Fair Value Through Profit or Loss" and "Available-for-Sale Financial Assets" to "Financial Assets Held for Trading" and "Other Non-current Financial Assets" respectively[37](index=37&type=chunk)[42](index=42&type=chunk) - In accordance with transition provisions, the company only adjusted opening retained earnings and other comprehensive income for **2019**, without restating comparative financial statements for **2018**[37](index=37&type=chunk)[41](index=41&type=chunk) Consolidated Balance Sheet Opening Adjustment Summary (January 1, 2019) | Adjustment Item | Adjustment Amount (CNY) | | :--- | :--- | | **Assets** | | | (+) Financial Assets Held for Trading | 297,835,219.24 | | (-) Financial Assets Measured at Fair Value Through Profit or Loss | -89,725,527.24 | | (+) Receivables Financing | 606,737,144.91 | | (-) Notes Receivable | -606,737,144.91 | | (-) Available-for-Sale Financial Assets | -997,141,365.41 | | (+) Other Non-current Financial Assets | 789,031,673.41 | | **Equity** | | | (+) Other Comprehensive Income | 39,445,727.10 | | (-) Retained Earnings | -39,445,727.10 | [4.4 Audit Report](index=26&type=section&id=4.4%20Audit%20Report) This quarterly report is unaudited - The audit report is not applicable as this quarterly financial report is unaudited[43](index=43&type=chunk)

Financial Performance - In 2018, the company achieved a net profit attributable to shareholders of 4,672,023,584.96 RMB, representing a 40.27% increase compared to 2017[3]. - The total operating revenue for 2018 was 280,381,790,726.29 RMB, which is a 28.26% increase from 218,601,583,976.54 RMB in 2017[12]. - The company's total assets reached 217,453,940,226.69 RMB at the end of 2018, reflecting a 23.95% increase from 175,430,357,650.35 RMB in 2017[13]. - The net assets attributable to shareholders of the listed company were 27,555,574,865.30 RMB, up 16.63% from 23,625,935,998.82 RMB in 2017[13]. - Basic earnings per share for 2018 reached CNY 1.65, a 41.03% increase compared to CNY 1.17 in 2017[14]. - The weighted average return on equity increased to 18.29%, up 3.46 percentage points from 14.83% in 2017[14]. - The net profit for 2018 was CNY 7.63 billion, reflecting a year-on-year growth of 58.15%[36]. - The net profit attributable to shareholders of the parent company reached CNY 4.67 billion, up 40.27% year-on-year[36]. Cash Flow and Dividends - The company reported a net cash flow from operating activities of 4,780,265,299.45 RMB in 2018, compared to a negative cash flow in 2017[13]. - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares, totaling 1,417,600,265.00 RMB, based on a total share capital of 2,835,200,530 shares as of December 31, 2018[3]. - The company reported a cash dividend of 1,417,600,265 RMB for 2018, representing 30.34% of the net profit attributable to ordinary shareholders[125]. Supply Chain Operations - The company’s supply chain operations cover a wide range of products, including metals, chemicals, and agricultural products, with business relationships established in over 170 countries[22]. - The company has over 1,400 cooperative warehouses across major logistics nodes in China, enhancing its supply chain capabilities[22]. - The company’s supply chain operations revenue reached CNY 235.987 billion, a year-on-year increase of 25.21%[38]. - The company's import and export business exceeded USD 14 billion in 2018, growing by 35.33% year-on-year, accounting for over 40% of supply chain revenue[39]. Real Estate Development - The real estate development business has expanded to over 30 cities nationwide, with a focus on key regions such as the Yangtze River Delta and the Pearl River Delta[25]. - The real estate development business generated revenue of CNY 40.579 billion in 2018, an increase of CNY 11.324 billion, or 38.71% year-on-year[43]. - The company reported a contract sales amount of CNY 73.598 billion in 2018, a year-on-year growth of 60.83%, significantly outperforming the national average growth of 12.2%[44]. - The company added 45 new land plots in 2018, with a total new construction area of approximately 6.4214 million square meters[45]. - The company's land reserve area reached 15.5498 million square meters by the end of 2018, with 50.69% located in first and second-tier cities[45]. Project Management and Development - The company is focusing on expanding its residential and commercial land holdings, with a mix of equity stakes in various projects[71]. - The company has multiple planned projects across various cities, with a total area of 1,200,000 square meters under development[70]. - The company is actively pursuing new land acquisitions for residential and commercial use to support future growth initiatives[86]. - The company has a strategic focus on increasing its project completion rates across multiple locations, aiming for higher efficiency in project delivery[86]. Environmental and Social Responsibility - The company donated 480,000 RMB to support medical equipment projects in impoverished villages in Jian'ge County, Sichuan Province[153]. - The company plans to continue actively responding to national poverty alleviation initiatives and fulfill its social responsibilities[154]. - The company has implemented a comprehensive environmental management system, conducting monthly inspections and regular maintenance of pollution control facilities[163]. - The average wastewater discharge concentration for COD was 66.17 mg/L, well below the standard limit of 100 mg/L, with a total discharge of 406.37 tons[158]. Corporate Governance and Shareholder Information - The company has appointed Deloitte Touche Tohmatsu Certified Public Accountants LLP with an audit fee of CNY 475,000 for the year[130]. - The largest shareholder, Xiamen Jianfa Group Co., Ltd., held 1,301,203,376 shares, representing 45.89% of the total shares, with 600 million shares pledged[177]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance[195]. - The total number of employees in the parent company and major subsidiaries is 17,071, with 2,762 technical personnel and 11,479 business personnel[196].

厦门建发股份有限公司 2018 年第三季度报告 一、 重要提示 厦门建发股份有限公司 2018 年第三季度报告 公司代码：600153 公司简称：建发股份 厦门建发股份有限公司 2018 年第三季度报告 1 / 20 $$\mathbb{H}{\overline{{\mathbb{M}}}}$$ | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 8 | | 四、 | 附录 | 10 | 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比 上年度末增减 (%) 调整后 调整前 总资产 241,322,631,555.90 175,413,465,816.12 175,295,147,504.00 37.57 归属于上市公司 股东的净资产 24,701,156,352.32 23,628,069,043.51 23,622,705,166.70 4.54 年初至报告期末（1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增 减(%) 调整后 调整前 经营活动产 ...

Financial Performance - The company's operating revenue for the first half of 2018 was approximately ¥115.58 billion, representing a 26.13% increase compared to ¥91.63 billion in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2018 was approximately ¥1.19 billion, up 26.94% from ¥934.60 million in the previous year[17]. - The net profit after deducting non-recurring gains and losses was approximately ¥968.79 million, reflecting a 32.80% increase from ¥729.48 million year-on-year[17]. - Basic earnings per share for the first half of 2018 were ¥0.42, an increase of 27.27% compared to ¥0.33 in the same period last year[18]. - The weighted average return on equity for the first half of 2018 was 4.90%, up 0.64 percentage points from 4.26% in the previous year[19]. - The net profit for the same period was CNY 1.52 billion, reflecting a growth of 35.01% year-on-year[49]. - The company reported a total sales revenue of 54,409.00 million RMB for the residential project in Zhangzhou, with a 94% increase compared to the previous year[80]. Assets and Liabilities - The company's total assets at the end of the reporting period reached approximately ¥226.02 billion, a 28.94% increase from ¥175.30 billion at the end of the previous year[17]. - The company's total liabilities reached CNY 180.90 billion, up from CNY 131.56 billion, indicating a rise of about 37.49%[171]. - Cash and cash equivalents at the end of the period amounted to approximately 25.18 billion RMB, an increase of 53.16% compared to the previous period[58]. - The company's inventory surged to CNY 128.13 billion, compared to CNY 86.50 billion at the beginning of the year, marking an increase of around 48.16%[170]. - The company's total current liabilities amounted to CNY 122.73 billion, up from CNY 83.86 billion, indicating an increase of approximately 46.36%[171]. Business Segments - The company operates primarily in two segments: supply chain operations and real estate development[23]. - The supply chain operation business integrates resources across commerce, finance, logistics, and information, serving over 170 countries with more than 1,400 cooperative warehouses[24]. - The real estate development business has expanded to over 30 cities nationwide and entered the overseas market in Sydney, Australia, with a project reserve primarily in cities like Suzhou, Shanghai, and Chengdu[27]. Market Position and Strategy - The company ranks 39th among the "Top 50 Real Estate Development Enterprises in China" and has consistently been in the top 10 for comprehensive development[27]. - The company emphasizes innovation and has maintained steady growth in main business revenue and net profit since its listing, adapting to changing market conditions[31]. - The company’s real estate strategy focuses on national layout, regional concentration, and deep cultivation in cities, enhancing its competitive advantage[32]. - The integration of real estate with new industries such as cultural creativity and e-commerce has created a synergistic effect, enhancing the company's competitive edge[35]. Risk Management - The company has established a robust risk management system to address various risks, including financial management and commodity price fluctuations, ensuring sustainable growth[30]. - The company has established a risk control committee to assess and manage risks across its operations[98]. - The real estate development business is significantly affected by national macro-control policies, which can lead to cyclical impacts on operations[100]. Investments and Projects - The company has ongoing projects with a total investment of approximately RMB 2,246 million, including the Xinyue Bay project in Xiamen, which has a planned construction area of 215,702.87 square meters[69]. - The company has reported a significant investment in ongoing projects, with actual investment during the reporting period amounting to RMB 4,072 million for the Xinyue Bay project alone[69]. - The company is expanding its market presence with new land acquisitions, including the JY2018001 project in Nanping, which has a planned construction area of 125,979.05 square meters[65]. Social Responsibility and Environmental Impact - In July 2018, the company donated 480,000 yuan for medical equipment projects in impoverished villages in Jian'ge County, Sichuan[119]. - The company plans to continue actively responding to national poverty alleviation initiatives and fulfill its social responsibilities[120]. - The wastewater discharge from the company’s subsidiary, Yongfeng Pulp and Paper, was 21,942 tons, with all pollutants meeting regulatory standards[122]. Financial Stability and Outlook - The company reported a total guarantee amount of 269.33 billion RMB, which accounts for 114.01% of the company's net assets[115]. - The company’s liquidity ratios showed a current ratio of 1.61, down 10.56% from the previous year, and a quick ratio of 0.57, down 25.00%[161]. - The overall financial performance indicates a cautious outlook for future growth amid market conditions[199].

厦门建发股份有限公司 2018 年第一季度报告 公司代码：600153 公司简称：建发股份 厦门建发股份有限公司 2018 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 7 | | 四、 | 附录 10 | 厦门建发股份有限公司 2018 年第一季度报告 一、 重要提示 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 206,285,301,795.79 | 175,295,147,504.00 | 17.68 | | | 归属于上市公司 | 24,177,112,053.78 | 23,622,705,166.70 | 2.35 | | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动 ...