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].

Financial Performance - In 2021, the company achieved operating revenue of CNY 5,704,314,008.18, representing a year-on-year increase of 14.50% compared to CNY 4,982,150,889.31 in 2020[26]. - The net profit attributable to shareholders of the listed company was CNY 187,665,903.89, a decrease of 33.37% from CNY 281,649,123.23 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 130,456,900.22, down 50.82% from CNY 265,247,557.88 in 2020[26]. - The net cash flow from operating activities was CNY 490,883,429.90, a decrease of 17.82% compared to CNY 597,328,920.56 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]. - The company's total operating revenue for the year was 5.704 billion yuan, representing a 14.50% increase compared to the previous year, while the operating cost was 3.579 billion yuan, an increase of 26.17%[48]. - The company's net profit for 2021 decreased by 50.82% compared to the previous year, amounting to RMB 130,456,900.22[194]. Assets and Liabilities - As of the end of 2021, the net assets attributable to shareholders of the listed company reached CNY 7,286,106,884.23, an increase of 37.05% from CNY 5,316,511,066.49 at the end of 2020[26]. - Total assets at the end of 2021 amounted to CNY 29,641,483,197.63, reflecting a year-on-year growth of 15.68% from CNY 25,623,925,893.49 in 2020[26]. - Cash and cash equivalents at the end of the period amounted to ¥3,559,039,309.29, representing 12.01% of total assets, a decrease of 3.79% from the previous period[56]. - Accounts receivable decreased by 20.44% to ¥23,306,641.14, accounting for 0.08% of total assets[56]. - Inventory increased by 7.57% to ¥15,860,709,785.55, making up 53.51% of total assets[56]. - Other receivables rose significantly by 126.08% to ¥2,576,260,029.07, representing 8.69% of total assets, attributed to performance compensation from a partner[56]. - Short-term borrowings decreased by 30.90% to ¥974,982,426.50, accounting for 3.29% of total liabilities[56]. - Contract liabilities decreased by 6.12% to ¥5,453,213,426.24, representing 18.40% of total liabilities[56]. - Non-current liabilities due within one year increased by 99.20% to ¥2,569,228,301.33, accounting for 8.67% of total liabilities[56]. 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 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 significant decline of 11.4%, marking the largest drop since 2016[38]. - The company reported a total of 83,000 million RMB in expected daily related transactions for 2021, with actual transactions amounting to approximately 19,558.44 million RMB[151]. - The company achieved total sales revenue of 370,949 million RMB and a sales area of 311,680.62 square meters during the reporting period[66]. Investment and Development - The company has significant real estate development projects underway, including the Guangzhou Jinjiang project with a planned construction area of 1,131,283 square meters[62]. - The total area of land held for development is 1,545,932 square meters, with a planned construction area of 2,677,219 square meters[61]. - The company is actively expanding its real estate portfolio with various projects in cities like Guangzhou, Changsha, and Suzhou, contributing to its growth strategy[63]. - The company has developed large-scale high-end residential projects, including the Guangzhou Jinxiuxiangjiang and Guangzhou Xiangjiang•Feicui Green Oasis, focusing on urban industrial development[40]. - The company plans to expand its project investment in 2021, as indicated in the proposals approved during the annual general meeting[91]. Governance and Compliance - The company has provided a standard unqualified audit report from Deloitte Huayong[5]. - The company maintained a robust internal control system, with effective operations reported during the evaluation period[87]. - There were no significant governance irregularities reported, ensuring adherence to regulatory standards[88]. - The company has established a long-term system to prevent fund occupation by controlling shareholders and their affiliates[89]. - The company actively engaged with investors, enhancing communication and feedback mechanisms throughout the year[87]. 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 growth for commodity housing, influenced by economic factors and changing consumer attitudes[81]. - The company faces risks from the ongoing COVID-19 pandemic, which may impact construction progress and project timelines[79]. Future Outlook - For 2022, the company plans to maintain a steady development strategy, focusing on cost control, active sales, and inventory reduction[76]. - 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 intends to stabilize store occupancy rates and increase revenue through enhanced budget management and cost control measures[77]. - The company aims to enhance cash flow management, improve fund recovery rates, and increase asset turnover to boost operational efficiency[75]. Shareholder Information - The top shareholder, Southern Xiangjiang Group Co., Ltd., holds 1,320,619,361 shares, accounting for 38.89% of the total shares[168]. - Shenzhen Jin Haima Industrial Co., Ltd. holds 713,261,476 shares, representing 21.00% of the total shares[168]. - The company has repurchased 127,343,302 shares, which is 3.75% of the total share capital[169]. - The major shareholders include Southern Xiangjiang Group, Shenzhen Jin Haima, and Xiangjiang Group, which are considered acting in concert[169]. Legal Matters - The company is involved in multiple lawsuits, including a claim for 130,000,000 CNY regarding unpaid project funds, with the first instance already opened[147]. - Another lawsuit involves a claim of 30,227,300 CNY for unpaid project funds, with the first instance yet to be heard[148]. - A third lawsuit claims 18,932,100 CNY for unpaid project funds, with the first instance also yet to be heard[148]. - The company has engaged professional legal firms to actively respond to these lawsuits[147].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,072,258,907.62, representing an increase of 11.61% compared to the same period last year[5] - The net profit attributable to shareholders of the listed company was CNY 38,982,601.65, reflecting a significant increase of 58.37% year-on-year[5] - The basic earnings per share (EPS) for the period was CNY 0.0119, which is an increase of 63.01% compared to the previous year[5] - Net profit for Q1 2022 reached ¥44,884,493.41, significantly higher than ¥2,059,154.67 in Q1 2021, marking an increase of 2,080.5%[22] - Basic and diluted earnings per share for Q1 2022 were both ¥0.0119, compared to ¥0.0073 in Q1 2021, reflecting a 63.0% increase[22] - Total comprehensive income for Q1 2022 was ¥44,884,493.41, compared to ¥2,059,154.67 in Q1 2021, showing a substantial increase[22] Assets and Liabilities - The total assets at the end of the reporting period were CNY 28,441,168,530.83, a decrease of 4.05% from the end of the previous year[6] - The total assets as of March 31, 2022, amounted to CNY 28,441,168,530.83, a decrease from CNY 29,641,483,197.63 as of December 31, 2021[16] - The total liabilities as of March 31, 2022, were CNY 20,791,883,219.30, down from CNY 22,037,082,379.51 at the end of 2021[17] - The total equity attributable to shareholders increased to CNY 7,325,089,485.88 from CNY 7,286,106,884.23[17] Cash Flow - The net cash flow from operating activities was negative at CNY -363,497,436.30, which is not applicable for year-on-year comparison[5] - Cash flow from operating activities for Q1 2022 was negative at -¥363,497,436.30, an improvement from -¥634,134,038.21 in Q1 2021[25] - Cash and cash equivalents decreased to CNY 2,966,246,747.85 from CNY 3,559,039,309.29[15] - Cash and cash equivalents at the end of Q1 2022 totaled ¥1,883,946,334.73, down from ¥3,063,222,756.96 at the end of Q1 2021[26] - Cash inflow from financing activities in Q1 2022 was ¥1,105,200,000.00, compared to ¥1,913,279,257.64 in Q1 2021, indicating a decrease of 42.2%[26] - Net cash outflow from financing activities for Q1 2022 was -¥233,827,667.06, contrasting with a net inflow of ¥686,707,701.37 in Q1 2021[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 66,584[10] - The largest shareholder, Southern Xiangjiang Group Co., Ltd., held 38.89% of the shares, amounting to 1,320,619,361 shares[10] Strategic Partnerships and Activities - The company has a strategic partnership with Microsoft for cloud and mobile technology incubation, which has been ongoing since 2017[12] - The company hosted nearly 155 events and activities during the reporting period[14] - The company has received over 531 visits for exchanges and inspections[14] - The company opened the Unicorn Ranch office space on January 15, 2019[13] Inventory and Receivables - The accounts receivable increased to CNY 29,114,578.09 from CNY 23,306,641.14[15] - The inventory decreased to CNY 15,312,393,735.39 from CNY 15,860,709,785.55[15] Operating Costs and Tax Expenses - Total operating costs for Q1 2022 were ¥1,003,133,061.53, up 11.1% from ¥903,004,714.37 in Q1 2021[21] - The company reported a significant reduction in tax expenses, with income tax expense for Q1 2022 at ¥54,090,131.97, slightly down from ¥54,652,026.61 in Q1 2021[21]

Financial Performance - The company's operating revenue for Q3 2021 reached ¥1,729,569,748.14, representing a year-on-year increase of 195.98%[5] - Net profit attributable to shareholders was ¥177,581,954.17, showing a significant increase of 760.95% compared to the same period last year[5] - The basic earnings per share for the current period was ¥0.0533, an increase of 774.44% year-on-year[6] - Total operating revenue for the first three quarters of 2021 reached ¥3,561,505,870.06, a significant increase from ¥1,644,630,369.35 in the same period of 2020, representing a growth of approximately 116.5%[24] - The net profit for the first three quarters of 2021 was ¥221,139,597.66, a turnaround from a net loss of ¥48,874,168.91 in the same period of 2020[24] - The operating profit for the first three quarters of 2021 was ¥384,888,744.13, compared to a loss of ¥38,078,690.21 in 2020, showing a substantial improvement[24] - Earnings per share for the first three quarters of 2021 were ¥0.0656, compared to a loss per share of ¥0.0026 in the same period of 2020[25] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥28,288,648,189.78, reflecting a growth of 10.40% from the end of the previous year[6] - The total liabilities amounted to 28.29 billion RMB, up from 25.62 billion RMB in the previous year, indicating a growth of approximately 10.4%[20] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥22,568,959,424.39, an increase from ¥19,950,357,312.34 in 2020, reflecting a growth of approximately 8.1%[21] - Total equity as of the end of the third quarter of 2021 was ¥5,719,688,765.39, compared to ¥5,673,568,581.15 in 2020, indicating a slight increase of about 0.8%[21] - The total assets were approximately ¥25.62 billion, down from ¥26.75 billion in the previous period[33] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥527,509,433.45, a decline of 233.12% compared to the same period last year[6] - The total cash flow from operating activities for the first three quarters of 2021 was ¥4,388,286,259.17, slightly down from ¥4,424,090,106.87 in 2020[28] - The net cash flow from operating activities was -527,509,433.45 RMB, a decrease compared to 396,252,411.95 RMB in the previous quarter[29] - Total cash inflow from financing activities was 4,381,886,820.09 RMB, up from 3,237,168,633.89 RMB year-over-year[30] - Cash outflow for debt repayment was 3,191,346,579.62 RMB, compared to 2,665,810,849.00 RMB in the previous period[30] Investments and Shareholder Information - The company reported a net profit excluding non-recurring gains and losses of ¥145,064,134.05 for the current period[5] - The company’s long-term equity investments increased to approximately 646.08 million RMB from 305.20 million RMB, representing a growth of about 111%[20] - The total number of ordinary shareholders at the end of the reporting period was 60,388[10] - The top shareholder, Southern Xiangjiang Group Co., Ltd., held 38.89% of the shares, amounting to 1,320,619,361 shares[11] Operational Highlights - The company experienced a significant increase in revenue due to the rise in real estate project settlement income[9] - The company hosted nearly 154 events and activities, and received over 529 visits for exchanges and inspections as of September 30, 2021[17] - The company has established a partnership with Microsoft for cloud and mobile technology incubation, with 220 companies having entered the incubation center by September 30, 2021[16] Inventory and Current Assets - The company’s inventory increased to approximately 16.52 billion RMB from 14.74 billion RMB, marking a rise of about 12.1% year-over-year[19] - The company reported a total of 21.41 billion RMB in current assets as of September 30, 2021, compared to 20.48 billion RMB at the end of 2020, reflecting an increase of approximately 4.5%[19] Financial Standards and Reporting - The company adopted the revised accounting standard for leases starting January 1, 2021, impacting the financial statements[34] - The company did not adjust comparative period information due to the new lease accounting standard[34] - The board of directors announced the financial results on October 28, 2021[36]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 1.83 billion, representing a 72.78% increase compared to CNY 1.06 billion in the same period last year[23]. - The net profit attributable to shareholders for the first half of 2021 was CNY 41.32 million, a significant recovery from a loss of CNY 29.49 million in the previous year[23]. - The basic earnings per share for the first half of 2021 was CNY 0.0123, compared to a loss of CNY 0.0087 per share in the same period last year[22]. - Operating revenue for the current period reached ¥1,831,936,121.92, a 72.78% increase compared to ¥1,060,279,914.80 in the same period last year[37]. - The company reported a net profit of ¥17,920,446.57 for the first half of 2021, a significant improvement compared to a loss of ¥36,507,871.25 in the same period last year[91]. - The company reported a gross profit margin of approximately 1.26% for the first half of 2021, compared to a negative margin in the same period of 2020[104]. Cash Flow and Financial Position - The net cash flow from operating activities decreased by approximately CNY 1.03 billion, primarily due to increased cash payments for purchasing goods and services[21]. - The company reported a net cash flow from financing activities of ¥984,841,459.58, compared to -¥96,801,826.62 in the previous year, indicating increased borrowing[37]. - The company reported a total cash outflow from investment activities of 1,004,311,900.01 RMB in the first half of 2021, compared to 116,023,374.90 RMB in the same period of 2020[113]. - The company maintained a loan repayment rate of 100% and an interest payment rate of 100%, ensuring all obligations were met[91]. - The total assets at the end of the reporting period were CNY 28.79 billion, an increase of 12.34% from CNY 25.62 billion at the end of the previous year[23]. - Total liabilities increased to ¥23.05 billion from ¥19.95 billion, representing an increase of approximately 15.5%[97]. Business Operations and Strategy - The company operates a diversified business model focusing on urban industrial development, trade circulation, and home market operations, establishing itself as a leading home chain operator in China[27]. - The company has developed large-scale high-end residential projects, including Guangzhou Jinxiuxiangjiang and Guangzhou Xiangjiang • Emerald Oasis, enhancing its market presence in the Guangdong-Hong Kong-Macao Greater Bay Area[27]. - The company emphasizes innovation in product development, focusing on green buildings and smart home technologies to meet customer needs[30]. - The company plans to enhance market monitoring and adjust product strategies to mitigate risks associated with market fluctuations[44]. - The company plans to expand its market presence and explore potential mergers and acquisitions to enhance growth opportunities[104]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,546[76]. - The largest shareholder, Southern Xiangjiang Group Co., Ltd., held 1,320,619,361 shares, representing 38.89% of the total shares[78]. - The company repurchased 54,072,289 shares, which represents 1.59% of the total share capital[79]. - There were no changes in the controlling shareholder or actual controller during the reporting period[80]. Risks and Challenges - The company has outlined potential risks in the management discussion section, advising investors to be cautious[7]. - The company faces risks including market demand slowdown, policy changes, and high financial leverage, which may impact future operations[44]. - The management has indicated a cautious outlook for the upcoming quarters due to current market conditions[119]. Legal and Compliance - The company is involved in significant litigation, including a claim for RMB 127,237,280 against Guo Xing Global and a counterclaim of RMB 71,230,641.40 from Guo Xing Global[59]. - The company maintains a good integrity status for the reporting period, with no violations or penalties reported[63]. Research and Development - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[98]. - Research and development expenses were not explicitly detailed, but the company continues to invest in innovation and technology development[104]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the Chinese Accounting Standards, reflecting the company's financial position and operating results accurately[134]. - The company continues to operate under the assumption of going concern, with no significant doubts regarding its ability to continue operations for the next 12 months[133].

Financial Performance - Operating revenue surged by 145.30% to CNY 960.72 million year-on-year[6] - Net profit attributable to shareholders reached CNY 24.61 million, a significant recovery from a loss of CNY 38.96 million in the same period last year[6] - Basic and diluted earnings per share were CNY 0.0073, compared to a loss of CNY 0.0115 per share in the previous year[6] - The company reported a net profit margin improvement, with net profit for Q1 2021 reflecting a positive trend compared to the previous year[27] - The net profit for Q1 2021 was ¥2,059,154.67, a turnaround from a net loss of ¥60,965,268.00 in Q1 2020[30] - The profit attributable to shareholders of the parent company was ¥24,614,942.99 in Q1 2021, compared to a loss of ¥38,955,555.82 in the same period last year[30] - The company reported a significant increase in interest income, reaching ¥7,750,828.66 in Q1 2021, up from ¥5,148,040.27 in Q1 2020[29] - The total profit for Q1 2021 was ¥56,711,181.28, contrasting with a total loss of ¥72,096,139.88 in Q1 2020[29] Assets and Liabilities - Total assets increased by 7.88% to CNY 27.64 billion compared to the end of the previous year[6] - The total assets increased to ¥27,642,916,867.66, up from ¥25,623,925,893.49, indicating growth in the company's asset base[21] - The company’s total liabilities increased to ¥20,127,122,389.36, reflecting a rise in both current and non-current liabilities[21] - Total liabilities amounted to ¥21,963,596,011.84 as of March 31, 2021, compared to ¥19,950,357,312.34 at the end of 2020, reflecting an increase of about 10%[22] - The company's equity attributable to shareholders was CNY 5,316,511,066.49, with total equity at CNY 5,673,568,581.15[44] - Total liabilities reached approximately $6.68 billion, with current liabilities accounting for about $5.29 billion[48] Cash Flow - Net cash flow from operating activities was negative at CNY -634.13 million, compared to CNY -46.87 million in the same period last year[6] - Operating cash inflow for Q1 2021 was CNY 1,413,731,767.74, an increase of 14.4% compared to CNY 1,235,500,085.36 in Q1 2020[36] - Cash inflow from financing activities totaled CNY 1,913,279,257.64, significantly higher than CNY 744,414,491.67 in Q1 2020[37] - Net cash flow from financing activities improved to CNY 686,707,701.37 from CNY -941,547,445.22 year-over-year[37] - Total cash outflow from operating activities increased to CNY 2,047,865,805.95 from CNY 1,282,371,528.04 year-over-year[36] Shareholder Information - The total number of shareholders reached 62,130 by the end of the reporting period[10] - The largest shareholder, Southern Xiangjiang Group Co., Ltd., holds 38.89% of the shares, with 1.32 billion shares pledged[10] Investments and Partnerships - The company has established a partnership with Microsoft for cloud and mobile technology incubation, enhancing its innovation capabilities[15] - The company has ongoing investments in new technologies and product development, aiming to enhance market competitiveness[27] - Future outlook includes plans for market expansion and potential mergers and acquisitions to drive growth[27] Operational Metrics - Accounts receivable decreased by 51.57% to ¥14,188,836.13 due to the recovery of some receivables[13] - Prepayments increased significantly by 672.78% to ¥734,405,782.30 due to increased land payments[13] - Operating costs rose by 140.18% to ¥595,097,793.89, corresponding to the increase in recognized income[13] - The company reported a net loss from investments of ¥7,149,777.31, a 696.06% increase in losses compared to the previous period[13] Compliance and Standards - The company has implemented new leasing standards effective from January 1, 2021, impacting financial reporting[44] - The company adopted new leasing standards effective January 1, 2021, impacting financial reporting[49]

Financial Performance - In 2020, the company achieved a net profit of RMB 259,495,266.11, with total distributable profits at RMB 397,508,120.86 after accounting for retained earnings and reserves[6]. - The company's operating revenue for 2020 was approximately CNY 4.98 billion, representing a 1.11% increase compared to CNY 4.93 billion in 2019[25]. - Net profit attributable to shareholders decreased by 38.07% to CNY 281.65 million in 2020 from CNY 454.80 million in 2019[25]. - The net cash flow from operating activities dropped by 81.79% to CNY 597.33 million in 2020, down from CNY 3.28 billion in 2019[25][26]. - The total assets increased by 10.24% to CNY 25.62 billion at the end of 2020, compared to CNY 23.24 billion at the end of 2019[25]. - Basic earnings per share decreased by 37.89% to CNY 0.0831 in 2020 from CNY 0.1338 in 2019[27][28]. - The company incurred a loss of CNY 38.96 million in the first quarter of 2020, while the fourth quarter net profit was CNY 290.52 million[30]. - The company recognized an impairment loss of CNY 144 million on inventory, which increased by CNY 54 million compared to the previous year[25]. - The operating cost for 2020 was approximately RMB 2.84 billion, which increased by 19.25% compared to the previous year[51]. - The gross profit margin for the main business was 43.07%, a decrease of 8.66 percentage points compared to the previous year[57]. Dividend and Share Repurchase - The board proposed a cash dividend of RMB 0.3 per 10 shares, totaling RMB 100,375,342.05, leaving retained earnings of RMB 297,132,778.81 for future distribution[7]. - The company distributed cash dividends amounting to 69,916,356.34 RMB, representing 24.82% of the profit available for distribution[98]. - The total number of shares repurchased by the company reached 33,583,289, accounting for 0.9890% of the total share capital, with a total transaction amount of 69,916,356.34 RMB[98]. - The cash dividend per share for 2020 was 0.30 RMB, while for 2019 and 2018, it was 0.67 RMB and 0.75 RMB respectively[96]. Risk Management - The report includes a risk statement indicating that forward-looking statements do not constitute a commitment to investors, highlighting the importance of investment risk awareness[8]. - The company has outlined potential risks in the "Discussion and Analysis of Operating Conditions" section of the report[10]. - The company faces risks from the ongoing COVID-19 pandemic, which may impact construction progress and project timelines[88]. - The real estate industry is significantly influenced by national macro-control policies, which may affect land acquisition, project development, and financing[89]. - The company plans to enhance market monitoring and adjust product structure, marketing strategies, and regional layouts in response to market risks[90]. Corporate Governance - The audit report for the financial statements was issued by Deloitte Huayong, confirming the accuracy and completeness of the financial report[5]. - The company has established a comprehensive internal management system covering various operational aspects, enhancing decision-making support[40]. - The company’s governance practices align with the requirements set by the China Securities Regulatory Commission, with no significant discrepancies reported[171]. - The company has a dedicated internal control department responsible for self-evaluation and internal audits, ensuring effective internal control operations[170]. - The company maintains a strict separation between the controlling shareholder and the listed company, ensuring independent operations[168]. Market Strategy and Operations - The company is focusing on urban industrial development and home furnishing market operations, aiming to enhance its position as a leading home furnishing chain operator in China[36]. - The company emphasized innovation, particularly in product development such as green buildings and smart home technologies[41]. - The company is committed to improving marketing effectiveness by increasing marketing frequency and developing precise marketing strategies[87]. - The company aims to enhance cash flow management, improve fund collection rates, and increase asset turnover to boost operational efficiency[84]. - The company has ongoing real estate projects in multiple regions, including Guangzhou, Ezhou, and Tianjin, with total construction areas ranging from 201,054 to 3,243,369 square meters[74]. Employee and Management - The total number of employees is 3,829, with 1,344 in operations management and 385 in marketing and sales[160]. - The total pre-tax compensation for executives during the reporting period amounted to 13.54 million yuan[149]. - The highest compensation was received by the Chairman and General Manager, Zhai Meiqing, totaling 2.06 million yuan[149]. - The company has a diverse board with independent directors holding various professional backgrounds, including finance and law[150]. - The company emphasizes the importance of maintaining stable executive compensation to attract and retain talent[149]. Legal and Compliance - The company is involved in significant litigation, including a claim for RMB 127.24 million related to funds occupied and interest[104]. - The company faces a counterclaim requiring payment of RMB 71.23 million from Guoxing Global[104]. - The company has ongoing litigation regarding a project in Hunan with a claim amount of RMB 30 million, which is currently frozen[106]. - The company has a legal dispute involving a project in Hengqin with a claim amount of RMB 168.05 million, which has been dismissed in the first instance[107]. - The integrity status of the company and its major stakeholders is reported to be good during the reporting period[108]. Social Responsibility - The company has made social donations totaling CNY 1,318,300 during the reporting period[125]. - The company has invested CNY 131.83 million in poverty alleviation efforts, including CNY 113.83 million in social poverty alleviation funds[123][125]. - The company plans to continue its social responsibility initiatives and poverty alleviation efforts in the future[124].

Financial Performance - Net profit attributable to shareholders decreased by 103.03% to a loss of CNY 8.87 million, down from a profit of CNY 292.76 million in the same period last year[6]. - Operating revenue fell by 37.28% to CNY 1.64 billion, compared to CNY 2.62 billion in the previous year[6]. - Basic and diluted earnings per share were both CNY -0.0026, a decrease of 103.01% from CNY 0.0863 in the previous year[6]. - The company reported a net loss of ¥48.87 million for the first three quarters of 2020, compared to a net profit of ¥232.53 million in the same period of 2019[31]. - Net profit for Q3 2020 was ¥9.88 million, a decline of 58.64% from ¥23.85 million in Q3 2019[31]. Cash Flow - Net cash flow from operating activities decreased by 85.85% to CNY 396.25 million, down from CNY 2.80 billion in the same period last year[6]. - Cash flow from operating activities for the first nine months of 2020 was CNY 396,252,411.95, a decrease from CNY 2,800,243,765.36 in the previous year[36]. - The company reported a decrease in cash received from operating activities, with a total of CNY 4,776,362,040.74 for the first nine months of 2020[36]. - The net cash flow from operating activities was -60,780,274.84 RMB, a significant decrease compared to 1,450,511.99 RMB in the previous year, indicating a decline in operational efficiency[40]. Assets and Liabilities - Total assets increased by 11.10% to CNY 25.82 billion compared to the end of the previous year[6]. - Total liabilities increased to 25.82 billion RMB as of September 30, 2020, compared to 23.24 billion RMB at the end of 2019, indicating a growth of approximately 11.1%[23]. - The company reported a total of 20.61 billion RMB in current assets as of September 30, 2020, compared to 18.24 billion RMB at the end of 2019, reflecting an increase of approximately 13.0%[22]. - The company’s total liabilities, including both current and non-current, reflect a robust financial structure, with long-term borrowings at 2,983,882,128.38 RMB[43]. Shareholder Information - The total number of shareholders at the end of the reporting period was 64,284[11]. - The largest shareholder, Southern Xiangjiang Group Co., Ltd., held 38.89% of the shares[11]. Revenue and Costs - The company experienced a decrease in rental income due to a one-month rent exemption and reduced rent policies for some stores[8]. - The operating costs for the same period were CNY 918,397,497.50, down 25.10% from CNY 1,226,105,527.52, reflecting a reduction in revenue[14]. - Total operating costs for the first three quarters of 2020 were ¥1.70 billion, down 27.77% from ¥2.35 billion in the first three quarters of 2019[30]. Investments - The company paid approximately CNY 793 million for land in Suzhou during the reporting period[8]. - The company’s long-term equity investments increased to approximately 332.67 million RMB from 69.49 million RMB, showing a substantial growth of about 378.5%[23]. Other Financial Metrics - The company reported a significant increase in prepayments, totaling CNY 787,259,870.86, which is a 911.77% increase from CNY 77,810,314.13 at the beginning of the year[13]. - The company experienced a 53.76% decrease in taxes and surcharges, amounting to CNY 158,863,403.24, down from CNY 343,559,271.42[14]. - The company’s investment income showed a loss of CNY 722,143.57, which is an improvement compared to a loss of CNY 12,722,582.72 in the same period last year[14].