董事会审计委员会 陈锦棋 庞 磊 修山城 深圳香江控股股份有限公司 根据上海证券交易所《上海证券交易所股票上市规则》、《公司章程》和《董 事会议事规则》等有关规定，我们作为深圳香江控股股份有限公司的第十届董事 会审计委员会成员，对拟提交给公司董事会审议的《关于续聘公司 2023 年度财 务审计机构的议案》及《关于续聘公司 2023 年度内控审计机构的议案》进行了 认真审议，并仔细阅读了公司提供的相关资料。现基于独立判断立场，发表意见 如下： 经我们核查并对其 2022 年度的审计工作进行了总结，认为：德勤华永会计 师事务所（特殊普通合伙）及其项目组审计成员遵守了职业道德基本原则中关于 保持独立性的要求，审计组成人员具有承办本次审计业务所必需的专业知识和相 关的任职资格，能够胜任本次审计工作，同时也能保持应有的关注和职业谨慎性。 根据其 2022 年度的审计工作情况及服务意识、职业操守和履职能力，提议续聘 德勤华永会计师事务所（特殊普通合伙）作为本公司 2023 年度财务报告及内部 控制审计机构，聘期一年，同意将《关于续聘公司 2023 年度财务审计机构的议 案》及《关于续聘公司 2023 年度内控审计机构的议 ...

深圳香江控股股份有限公司董事和高级管理人员 对公司 2023 年第三季度报告的书面确认意见 根据《证券法》、上海证券交易所《第一百零一号 上市公司季度报告》相关 规定和要求，我们作为深圳香江控股股份有限公司的董事和高级管理人员在全面 了解和审核公司《2023 年第三季度报告》后，发表书面意见如下： （1）公司《2023 年第三季度报告》公允的反映了公司报告期内的财务状况 和经营成果，所包含的信息能从各个方面真实地反映出公司报告期内的经营管理 和财务状况等事项。 （2）本公司董事、高级管理人员保证公司《2023 年第三季度报告》所披露 的信息真实、准确、完整，承诺其中不存在虚假记载、误导性陈述或重大遗漏， 并对其内容的真实性、准确性和完整性承担个别和连带的法律责任。 （以下无正文，下页为深圳香江控股股份有限公司董事及高级管理人员签字页） （本页无正文，为深圳香江控股股份有限公司董事及高级管理人员签字页） 董事及高级管理人员签字： | 翟美卿 | 修山城 | 翟栋梁 | | | --- | --- | --- | --- | | 刘根森 | 范 | 菲 | 陈锦棋 | | 庞 | 磊 | 甘小月 | 吴光辉 | ...

| （六）制订公司增加或者减少注册 | 合并、分立、解散及变更公司形式的方案； | | --- | --- | | 资本、发行债券或其他证券及上市方 | （八）在股东大会授权范围内，决定公司对外投 | | 案； | 资、收购出售资产、资产抵押、对外担保事项、委托 | | （七）拟订公司重大收购、收购本 | 理财、关联交易等事项； | | 公司股票或者合并、分立、解散及变更 | （九）决定公司内部管理机构的设置； | | 公司形式的方案； | （十）聘任或者解聘公司经理、董事会秘书；根 | | （八）在股东大会授权范围内，决 | 据经理的提名，聘任或者解聘公司副经理、财务负责 | | 定公司对外投资、收购出售资产、资产 | 人等高级管理人员，并决定其报酬事项和奖惩事项； | | 抵押、对外担保事项、委托理财、关联 | （十一）制订公司的基本管理制度； | | 交易等事项； | （十二）制订本章程的修改方案； | | （九）决定公司内部管理机构的设 | （十三）管理公司信息披露事项； | | 置； | （十四）向股东大会提请聘请或更换为公司审计 | | （十）聘任或者解聘公司经理、董 | 的会计师事务所； | | ...

深圳香江控股股份有限公司 独立董事工作制度 第一章 总则 第一条 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上市公 司治理准则》、《上市公司独立董事管理办法》及国家有关法律、法规和《公司章 程》的有关规定，为进一步完善公司治理结构，改善董事会结构，强化对内部董 事及经理层的约束和监督机制，保护中小股东及债权人的利益，促进公司的规范 运作，特制定本制度。 第二条 公司独立董事是指不在公司担任除董事外的其他职务，并与公司 及公司主要股东、实际控制人不存在直接或者间接利害关系，或者其他可能影响 其进行独立客观判断关系的董事。 独立董事应当独立履行职责，不受公司及公司主要股东、实际控制人等单位 或个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务。独立董事应当 按照相关法律、行政法规、中国证券监督管理委员会（以下简称中国证监会）规 定、证券交易所业务规则和《公司章程》的要求，认真履行职责，在董事会中发 挥参与决策、监督制衡、专业咨询作用，维护本公司整体利益，保护中小股东的 合法权益。 第四条 独立董事原则上最多在三家境内上市公司担任独立董事，并应当 确保有足够的时间和精力有效地履行独立董 ...

证券代码：600162 证券简称：香江控股 公告编号：临 2023-012 深圳香江控股股份有限公司 关于召开 2022 年度业绩说明会的公告 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个别及连带责任。 重要内容提示： （ 三 ） 会 议 召 开 方 式 ： 上 证 路 演 中 心 网 络 互 动 （ 网 址 ： http://roadshow.sseinfo.com/） 三、 参加人员 董事长、总经理：翟美卿女士 董事会秘书、财务总监：吴光辉先生 独立董事：陈锦棋先生 投资者可于 2023 年 06 月 02 日(星期五) 至 06 月 08 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 （hkhc@hkhc.com.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。 深圳香江控股股份有限公司（以下简称"公司"）已于 2023 年 4 月 8 日发布 公司 2022 年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经营成 果、财务状况，公司计划于 2023 ...

2023 年第一季度报告 证券代码：600162 证券简称：香江控股 深圳香江控股股份有限公司 2023 年第一季度报告 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 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期 | | | --- | --- | --- | --- | | | | 增减变动幅度(%) | | | 营业收入 | 1,191,593,152.45 | | 11.13 | | 归属于上市公司股东的净利润 | 88,696,088.25 | | 127.53 | | 归属于上市公司股东的扣除非经常性损益的净利润 | 70,956,621.12 | | 208.73 | | 经营活动产生的现金流量净额 | 296,912,086.76 | | 不适用 | | 基本每股收益（元/股） | 0.0271 | | 127.73 | | 稀释每股收益（元/股） | 0.0271 | | 127.73 | | 加权平均净资产收益率（%） ...

Financial Performance - In 2022, the company achieved a net profit of CNY 964,020,066.77, with a total distributable profit of CNY 767,137,295.53 at year-end[6]. - The company proposed a cash dividend of CNY 1.2 per 10 shares, totaling CNY 392,212,574.64 for distribution to shareholders[6]. - Basic earnings per share increased by 32.56% to CNY 0.0745 in 2022 compared to CNY 0.0562 in 2021[27]. - The weighted average return on net assets rose to 3.46% in 2022, an increase of 0.92 percentage points from 2.54% in 2021[27]. - The company reported a decrease of 24.30% in basic earnings per share after deducting non-recurring gains and losses, down to CNY 0.0296[27]. - The company's operating revenue for 2022 was approximately ¥6.05 billion, representing a 6.14% increase compared to ¥5.70 billion in 2021[28]. - The net profit attributable to shareholders for 2022 was approximately ¥243.41 million, a 29.71% increase from ¥187.67 million in 2021[28]. - The net cash flow from operating activities decreased by 30.50% to approximately ¥341.15 million in 2022, down from ¥490.88 million in 2021[28]. - The total assets at the end of 2022 were approximately ¥24.37 billion, a decrease of 17.78% from ¥29.64 billion at the end of 2021[28]. - The company achieved a signed sales amount of approximately ¥2.44 billion in 2022, indicating a significant decline compared to the previous year[36]. Operational Adjustments - The company implemented strategic adjustments, including organizational restructuring and cost control measures, to enhance operational efficiency[35]. - The company focused on project completion and timely delivery, particularly for key projects in cities like Guangzhou and Tianjin[36]. - The company faced challenges in the commercial circulation sector, with efforts to improve occupancy rates and brand structure in response to market conditions[38]. - The company has optimized its operational systems, including risk management and contract standardization, enhancing overall efficiency[39]. - The company is focusing on urban industrial development and has launched several high-end residential projects in the Guangdong-Hong Kong-Macao Greater Bay Area[42]. Market Conditions - The overall sales area of commercial housing in China decreased by 24.3% year-on-year, with a sales amount decline of 26.7% in 2022[79]. - The new construction area in 2022 was 1.206 billion square meters, a historical decline of 39.4%, returning to levels before 2009[41]. - The total land transaction price in 2022 was 92 billion yuan, a decrease of 48.4% year-on-year, with the land acquisition area down 53.4% year-on-year to 101 million square meters[41]. - The company is focusing on market expansion and new project developments in response to the easing of financing policies in the real estate sector[79]. - The real estate market is expected to operate steadily in 2023 under the principle of "ensuring delivery, safeguarding livelihoods, and maintaining stability" with improved financing conditions for quality developers[80]. Governance and Compliance - The company held 6 shareholder meetings, 9 board meetings, and 9 supervisory board meetings during the reporting period, ensuring compliance with legal requirements[90]. - The company maintains a strict separation between the controlling shareholder and the listed company, ensuring independent business operations and decision-making[91]. - The board of directors established four specialized committees to enhance governance, with all directors fulfilling their duties diligently and responsibly[92]. - The company has implemented a robust internal control system, with effective operations reported during the period[93]. - There were no significant governance irregularities reported in 2022, ensuring compliance with regulatory standards[94]. Legal Matters - The company is facing significant litigation issues, with a total amount involved in lawsuits reaching approximately ¥1,000,000,000[160]. - The lawsuit involving Chengdu Xiangjiang Furniture Industry Development Co., Ltd. has a claimed amount of ¥397,884,241 related to a project agreement termination[160]. - The company has ongoing litigation with Shenzhen Xiangjiang Holdings, with a claimed amount of ¥92,194,480 due to changes in national policy affecting land development agreements[160]. - The company is currently in the process of appealing a judgment regarding a payment dispute with Nantong Wujin Construction Group, with a claimed amount of ¥132,508,556[160]. - The company has engaged professional legal services to actively respond to ongoing litigation cases[160]. Shareholder and Management Structure - The total number of shares held by directors and senior management at the end of the reporting period was 5,673,750 shares, with a total pre-tax remuneration of 941.2 million yuan[99]. - The chairman and general manager, Cui Meiqing, received a pre-tax remuneration of 205.3 million yuan during the reporting period[99]. - The company has a significant ownership structure, with Southern Xiangjiang Group holding 38.89% of the shares[102]. - The new management team includes Mr. Zhai Dongliang as Vice General Manager and Ms. Fan Fei as Deputy General Manager, effective from May 20, 2022[102]. - The company’s financial management is led by Mr. Wu Guanghui, who serves as both CFO and Secretary of the Board since June 2020[101]. Employee and Compensation Policies - The company has established a tiered training system to enhance the financial sensitivity and management capabilities of mid-to-senior level management[130]. - The company’s compensation policy emphasizes external competitiveness and internal fairness, with a structure leaning towards high variable pay[128]. - The educational background of employees shows that 661 hold a bachelor's degree and 55 hold a graduate degree or higher[126]. - The company has implemented a stock incentive plan for core management personnel to enhance motivation and performance tracking[139]. Financial Transactions and Performance Compensation - The company has received a total of RMB 1.33165 billion in performance compensation payments from Southern Xiangjiang, with a remaining unpaid portion of RMB 705.2407 million[154]. - The performance compensation agreement stipulates that if the asset impairment exceeds the agreed compensation amount, Southern Xiangjiang must provide additional cash compensation[154]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[155]. - The company has not encountered any violations regarding guarantees during the reporting period[155]. Future Plans and Strategies - The company plans to focus on cost control, active sales, and inventory reduction to boost revenue[83]. - The company will implement cost optimization actions across all projects, ensuring financial safety and healthy operations[83]. - The company intends to stabilize store occupancy rates and enhance revenue from parking and advertising[84]. - The company aims to enhance cash flow management and improve asset turnover rates to increase operational efficiency[82].

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,259,456,347.59, a decrease of 27.18% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2022 was ¥108,244,682.29, down 39.05% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥84,102,364.75, a decline of 42.02% compared to the previous year[5]. - The basic earnings per share for Q3 2022 was ¥0.0331, representing a decrease of 37.90% year-on-year[6]. - Total revenue for the first three quarters of 2022 was CNY 2,817,782,622.62, a decrease of 20.8% compared to CNY 3,561,505,870.06 in the same period of 2021[25]. - Net profit for Q3 2022 was CNY 97,669,246.35, a decline of 56.0% compared to CNY 221,139,597.66 in Q3 2021[26]. - Earnings per share for Q3 2022 were CNY 0.0429, down from CNY 0.0656 in Q3 2021, representing a decrease of 34.0%[27]. Assets and Liabilities - The total assets at the end of the reporting period were ¥26,768,068,681.32, a decrease of 9.69% from the end of the previous year[6]. - Total assets decreased to CNY 26,768,068,681.32 in Q3 2022 from CNY 29,641,483,197.63 in Q3 2021, a reduction of 9.5%[23]. - The company's total liabilities as of September 30, 2022, have not been disclosed in the provided content but are critical for assessing financial health[18]. - Total liabilities decreased to CNY 19,196,736,141.73 in Q3 2022 from CNY 22,037,082,379.51 in Q3 2021, a decline of 12.9%[23]. Cash Flow - The company's cash and cash equivalents as of September 30, 2022, were approximately CNY 3.26 billion, down from CNY 3.56 billion at the end of 2021[21]. - The net cash flow from operating activities for Q3 2022 was CNY 145,865,179.66, a significant improvement from a net outflow of CNY 527,509,433.45 in Q3 2021[29]. - The cash and cash equivalents at the end of Q3 2022 amounted to CNY 2,765,437,477.60, an increase from CNY 2,438,900,785.67 at the end of Q3 2021[29]. - The cash outflow for purchasing fixed assets and other long-term assets in Q3 2022 was CNY 41,514,285.80, significantly lower than CNY 340,544,304.52 in Q3 2021[29]. Investments and Compensation - The company received a total of CNY 1.04 billion in performance compensation from Southern Xiangjiang, with a remaining balance of CNY 909 million yet to be paid[17]. - The company reported an investment loss of CNY 4,666,495.72 in Q3 2022, contrasting with a profit of CNY 59,624,127.08 in Q3 2021[26]. - The company received CNY 37,235,831.48 in investment income during Q3 2022, compared to CNY 105,074.11 in Q3 2021[29]. Operational Highlights - The company experienced a significant reduction in property sales revenue, impacting overall performance[8]. - The company reported a year-to-date net profit attributable to shareholders of ¥140,206,921.03, down 35.95% year-on-year[5]. - The company has hosted nearly 155 events and competitions as part of its innovation initiatives[16]. - The company reported a total of 220 enterprises (including graduated enterprises) settled in the Xiangjiang International Science and Technology Innovation Center as of September 30, 2022[16]. Research and Development - Research and development expenses for Q3 2022 were CNY 289,285,130.89, compared to CNY 395,671,228.95 in Q3 2021, indicating a decrease of 27.0%[26].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥1.56 billion, a decrease of 14.94% compared to the same period last year[22]. - The net profit attributable to shareholders for the first half of 2022 was approximately ¥31.96 million, down 22.65% year-on-year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately -¥75.79 million, a decrease of 522.95% compared to the previous year[22]. - The basic earnings per share for the first half of 2022 was ¥0.0098, a decline of 20.33% from ¥0.0123 in the same period last year[21]. - The weighted average return on net assets was 0.44%, down 0.34 percentage points from the previous year[21]. - The company's total assets at the end of the reporting period were approximately ¥27.86 billion, a decrease of 6.01% from the end of the previous year[22]. - The net cash flow from operating activities was approximately -¥98.87 million, compared to -¥802.87 million in the same period last year[22]. - The company reported a total profit of RMB 110,956,382.55, a decline of 8.5% from RMB 120,515,445.08 in the previous year[112]. - The company reported a net profit margin improvement, with undistributed profits increasing from ¥324.42 million to ¥1.08 billion, an increase of approximately 233.5%[109]. Assets and Liabilities - The company's total assets at the end of the reporting period were approximately 27.8 billion RMB, with a slight decrease of 3% compared to the previous year[39]. - The company's inventory accounted for 55.23% of total assets, amounting to approximately 15.385 billion RMB[39]. - Total assets decreased from ¥29.64 billion to ¥27.86 billion, a decline of approximately 6.0%[105]. - Current liabilities decreased from ¥18.17 billion to ¥16.68 billion, a reduction of about 8.2%[105]. - Total liabilities decreased from ¥22.04 billion to ¥20.38 billion, a reduction of about 7.5%[105]. - The total equity at the end of the reporting period was CNY 7.484 billion, showing a slight increase from the previous year[124]. Cash Flow - The net cash flow from operating activities for the first half of 2022 was -98,874,239.84 RMB, an improvement from -802,867,213.98 RMB in the same period of 2021[116]. - The total cash outflow from operating activities decreased to 2,264,899,309.62 RMB from 3,984,883,271.42 RMB in the first half of 2021[116]. - Cash inflow from financing activities totaled 1,860,321,695.52 RMB, down from 3,461,344,039.45 RMB in the first half of 2021[117]. - The ending balance of cash and cash equivalents increased to 2,838,202,529.34 RMB from 2,663,522,500.85 RMB year-over-year[117]. Market Conditions - The real estate market faced challenges in the first half of 2022, with a 5.4% year-on-year decline in total real estate development investment, and a 22.2% decrease in sales area[28]. - The demand growth for commercial housing has slowed down recently, with some third and fourth-tier cities experiencing "ghost town" phenomena[44]. - The company is closely monitoring the impact of COVID-19 on its financial status and project progress, as the pandemic has affected construction and project timelines[42]. Strategic Focus - The company is focusing on urban industrial development and has launched several high-end residential projects, including the Guangzhou Jinxiuxiangjiang and Guangzhou Xiangjiang•Emerald Oasis[27]. - The company plans to improve market monitoring and adjust product structure, marketing strategies, and regional layouts in response to market changes[44]. - The company plans to focus on market expansion and new product development in the upcoming quarters to improve financial performance[113]. Legal and Compliance - The company has ensured compliance with regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange, maintaining equal rights for all shareholders[60]. - The company has been involved in a significant lawsuit where the Chengdu Xindu District Government was ordered to pay RMB 175,733,856.37 plus interest to a subsidiary[62]. - The company is currently navigating through various legal challenges that could impact its financial performance and operational focus[66]. Related Party Transactions - The company approved the 2022 annual related party transaction plan with a total expected transaction amount of 83 million RMB, of which 5.08 million RMB was actually executed by June 2022, representing approximately 6.1% of the expected amount[68]. - The company provided and received labor services from related parties, with an expected transaction amount of 70 million RMB, while the actual amount was 8.66 million RMB, accounting for about 12.4% of the expected[68]. Corporate Governance - The company has committed to compensating any losses incurred due to violations of its commitments, ensuring full compensation for any damages[60]. - The company has not reported any changes in its total share capital or share structure during the reporting period[83]. - The largest shareholder, Southern Xiangjiang Group Co., Ltd., holds 1,320,619,361 shares, representing 38.89% of the total shares[86]. Accounting Policies - The accounting policies comply with the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[138]. - The company uses the historical cost basis for asset measurement, with impairment provisions made as necessary[135]. - The company recognizes revenue primarily from sales of goods and service provision, confirming revenue when control of the goods or services is transferred to the customer[198].

Financial Performance - The company's operating revenue for 2021 was CNY 5,704,314,008.18, representing a 14.50% increase compared to CNY 4,982,150,889.31 in 2020[26]. - The net profit attributable to shareholders of the listed company decreased by 33.37% to CNY 187,665,903.89 from CNY 281,649,123.23 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 50.82% to CNY 130,456,900.22 compared to CNY 265,247,557.88 in 2020[26]. - The net cash flow from operating activities was CNY 490,883,429.90, down 17.82% from CNY 597,328,920.56 in 2020[26]. - The total assets of the company increased by 15.68% to CNY 29,641,483,197.63 at the end of 2021, compared to CNY 25,623,925,893.49 at the end of 2020[26]. - The net assets attributable to shareholders of the listed company rose by 37.05% to CNY 7,286,106,884.23 from CNY 5,316,511,066.49 in 2020[26]. - Basic earnings per share decreased by 32.37% to RMB 0.0562 in 2021 compared to RMB 0.0831 in 2020[28]. - The diluted earnings per share also decreased by 32.37% to RMB 0.0562 in 2021 compared to RMB 0.0831 in 2020[28]. - The weighted average return on net assets decreased to 2.54% in 2021 from 5.26% in 2020, a decline of 2.72 percentage points[28]. Revenue and Sales - The company achieved a total sales amount of approximately RMB 3.7 billion and project cash inflows of about RMB 4.2 billion in 2021[34]. - The company reported a total sales area of 1.794 billion square meters for commercial housing in 2021, with a year-on-year growth rate of 1.9%, and a total sales amount of 1.819 trillion yuan, reflecting a year-on-year increase of 4.8%[38]. - The new construction area in 2021 was 1.989 billion square meters, a decline of 11.4%, marking the largest drop since 2016[38]. - In 2021, the company achieved a contracted sales area of approximately 311,700 square meters and a contracted sales amount of approximately 3.709 billion yuan, primarily from residential sales[44]. Operational Efficiency - The company focused on project completion and sales in key areas such as Guangzhou, Tianjin, and Lianyungang, with significant efforts in brand marketing and operational efficiency[34]. - The company’s operational management team has over 20 years of experience in the commercial circulation industry, establishing a competitive advantage in the South China region[43]. - The company’s budget management and cost control measures have been strengthened to ensure performance targets are met[36]. - The company aims to enhance cash flow management, improve fund recovery rates, and increase asset turnover to boost operational efficiency[75]. Investment and Financing - The company’s investment activities resulted in a net cash outflow of 561.16 million yuan, attributed to increased expenditures on joint ventures and the acquisition of the Nanchang Kunxin project[54]. - The total financing amount at the end of the period was RMB 620,420.02 million, with an average financing cost of 6.7879%[69]. - The company has established a partnership with Microsoft China for a cloud and mobile technology incubation project, which has seen significant progress since its inception in 2017[162]. Governance and Compliance - The company has provided a standard unqualified audit report from Deloitte Huayong Certified Public Accountants[5]. - The company strictly adheres to information disclosure regulations, ensuring all shareholders have equal access to information[86]. - The company has established a long-term system to prevent the controlling shareholder from occupying listed company funds, maintaining operational independence[88]. - The internal control system is effectively operating, with dedicated departments responsible for self-evaluation and internal audits[87]. Legal Matters - The company is involved in multiple lawsuits, including a claim for 130,000,000 CNY regarding unpaid project funds, with a court hearing already held[147]. - The company has engaged professional legal firms to actively respond to these lawsuits[148]. - The company has reported a good integrity status for itself and its major stakeholders during the reporting period[150]. - The company has successfully defended against a group lawsuit involving 168,000,000 CNY, with the court ruling in its favor[148]. Market Conditions and Risks - The real estate market faced unprecedented challenges in 2021 due to tightening policies and the impact of COVID-19, affecting project development and sales[139]. - The implementation of the "three red lines" financing policy for real estate companies increased financial pressure on the industry[139]. - Market risks include a slowdown in demand for commodity housing, particularly in lower-tier cities, which could adversely affect business growth[81]. Future Outlook - The company provided guidance for 2022, projecting revenue growth of 10% to 12%, aiming for a total revenue between 1.32 billion and 1.344 billion[99]. - The company plans to control costs, promote sales, and reduce inventory while focusing on improving core business capabilities and operational efficiency[76]. - The company is committed to sustainability, with plans to invest 100 million in green technology projects over the next three years[99].