Financial Performance - As of the end of 2021, Gree Real Estate's inventory accounted for 71.22% of total assets, highlighting the significance of inventory management in financial performance[5] - The total liabilities of Gree Real Estate as of December 31, 2021, were approximately ¥23.91 billion, a decrease from ¥29.04 billion in the previous year, indicating improved financial health[17] - The company's cash and cash equivalents increased to ¥526.36 million in 2021 from ¥162.57 million in 2020, reflecting a significant improvement in liquidity[18] - Gree Real Estate's total current assets decreased to approximately ¥8.81 billion in 2021 from ¥11.06 billion in 2020, suggesting a contraction in short-term asset base[18] - The company's long-term borrowings were approximately ¥8.10 billion in 2021, down from ¥10.15 billion in 2020, indicating a reduction in long-term debt obligations[17] - Gree Real Estate's net profit attributable to shareholders increased to approximately ¥5.67 billion in 2021, compared to ¥5.21 billion in 2020, showing a growth of about 8.8% year-over-year[17] - The company's total equity attributable to shareholders rose to approximately ¥9.02 billion in 2021 from ¥8.42 billion in 2020, reflecting a positive trend in shareholder value[17] - Gree Real Estate's contract liabilities decreased to approximately ¥1.81 billion in 2021 from ¥2.71 billion in 2020, indicating a reduction in future revenue obligations[17] - The company reported a significant increase in other receivables, totaling approximately ¥8.28 billion in 2021, down from ¥10.73 billion in 2020, which may impact cash flow management[18] - The company’s total equity increased to RMB 9,023,316,968.18 from RMB 8,430,876,952.48, showing a positive trend in shareholder value[36] - The company reported a net cash flow from operating activities of RMB 3,156,984,620.28 for the year, a significant increase from RMB 834,790,337.07 in the previous year, reflecting improved operational efficiency[42] Cash Flow and Financing Activities - The net cash flow from financing activities was -¥5,497,612,036.07, a significant decrease from a positive cash flow of ¥374,204,307.43 in the previous year[23] - The total cash and cash equivalents at the end of the period decreased to ¥974,203,252.05 from ¥3,039,715,607.23 in 2020, indicating a decline of approximately 67.9%[23] - The company reported a cash outflow for debt repayment amounting to ¥11,188,781,785.61, which is nearly double the ¥5,806,128,403.81 recorded in the previous year[23] - The cash received from interest, fees, and commissions was ¥16,490,824.52, down from ¥24,831,694.43 in 2020, reflecting a decrease of about 33.5%[22] - The net cash inflow from investment activities amounted to ¥1,284,372,340.90, a significant increase compared to the outflow of ¥76,511,205.64[43] - The total cash outflow from financing activities was ¥5,377,566,335.00, leading to a net cash outflow of ¥4,577,566,335.00 from financing activities[43] - The company's cash and cash equivalents at the end of the period decreased to ¥26,364,737.64 from ¥162,574,111.46 at the beginning of the period, reflecting a net decrease of ¥136,209,373.82[43] Revenue and Profitability - The company achieved operating revenue of RMB 7.13 billion in 2021, an increase of 11.65% compared to the previous year[103] - The net profit attributable to shareholders decreased by 17.59% to RMB 460.46 million in 2021[103] - The company's cash inflow from operating activities totaled RMB 9,436,955,626.12, compared to RMB 7,902,243,409.83 in the previous year, indicating strong revenue generation capabilities[42] - The real estate segment generated RMB 6.51 billion in revenue, reflecting a growth of 20.73% year-on-year[107] - The company reported a total revenue for the fourth quarter of approximately 963.76 million RMB, with a total annual revenue of approximately 7.11 billion RMB[75] - The net profit attributable to shareholders for the fourth quarter was a loss of approximately 180.18 million RMB, resulting in an annual net profit of approximately 241.47 million RMB[75] Strategic Initiatives and Future Plans - The company plans to expand its market presence and invest in new product development as part of its future strategy[32] - The company has initiated a capital increase plan to enhance its financial stability and support future growth initiatives[32] - The company is focusing on technological advancements and innovation to drive future revenue growth and market competitiveness[32] - The company plans to continue expanding its market presence and invest in new technologies and products[60] - The company is committed to improving its performance evaluation and compensation management system for senior management to drive efficiency and development[80] - The company is focusing on integrating online and offline shopping channels to enhance consumer experience and meet upgraded consumption demands[108] - The company plans to acquire 100% equity of the duty-free group, enhancing its strategic procurement resources and market development in the duty-free business[120] - The company is committed to fulfilling its social responsibilities during the pandemic by enhancing the production and supply of essential materials[129] Market and Industry Context - The health industry is projected to exceed RMB 16 trillion by 2030, driven by national policies supporting the "Healthy China" initiative[113] - The company is closely monitoring national and local policy changes to enhance its risk management capabilities in the real estate sector[191] - The company has received over 450 real estate regulatory policies across various provinces and cities in 2021, indicating a tightening market environment[135] - The company is positioned to benefit from policy support in Hainan and Hengqin, enhancing its business prospects in these regions[136] Operational Efficiency and Management - The company has established a rigorous quality management system, enhancing its reputation in the industry[141] - The company has accumulated over 20 years of experience in urban development and construction, contributing to its competitive advantage[141] - The company has a strong management team focused on talent development and corporate culture to ensure effective strategy implementation[151] - The company has established a differentiated compensation system linked to performance to enhance employee motivation and align actions with corporate goals[77] Asset Management - The company’s investment properties increased in value to RMB 3,199,568,339.11 from RMB 2,693,183,250.37, indicating successful asset management strategies[35] - The company reported a significant increase in intangible assets, which rose by 78.26% to 83,376,932.88, representing 0.25% of total assets[173] - The company’s total liabilities and equity amounted to RMB 32,931,269,465.12, down from RMB 37,470,008,240.94, suggesting a contraction in financial leverage[36] - The company’s accounts receivable decreased to RMB 289,619,181.94 from RMB 618,752,167.33, reflecting improved collection processes[35]

Financial Performance - The company's operating revenue for the third quarter was ¥599,753,231.61, a decrease of 78.41% compared to the same period last year[3]. - The net profit attributable to shareholders for the third quarter was ¥58,552,855.24, down 65.83% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥55,790,841.72, reflecting a decline of 69.14% compared to the previous year[3]. - The net profit attributable to shareholders for the year-to-date period was ¥154,461,011.99, down 75.89% compared to the same period last year[3]. - The company's total revenue for the first three quarters of 2022 was approximately ¥2.75 billion, compared to ¥6.17 billion in the same period of 2021, indicating a decline[71]. - The net profit for the third quarter of 2022 was approximately ¥152.43 million, a decrease from ¥638.91 million in the same quarter of 2021[72]. - Total comprehensive income attributable to the parent company was CNY 170,217,150.32, a decrease of 73.98% compared to CNY 629,993,975.87 in the same period last year[74]. - Basic and diluted earnings per share were both CNY 0.08, down from CNY 0.35 year-over-year[74]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥360,905,580.42, a significant decrease of 86.52% year-on-year[3]. - Net cash flow from operating activities was CNY 360,905,580.42, a significant decline of 86.52% from CNY 2,677,712,648.05 in the previous year[77]. - The company reported a net increase in cash flow from operating activities of CNY 3,527,676,767.96, compared to CNY 7,141,008,311.69 in the previous year, reflecting a decrease of 50.54%[77]. - Cash inflow from investment activities totaled CNY 523,786,872.87, compared to CNY 68,233,308.94 in the same period last year, indicating a substantial increase[77]. - Net cash flow from financing activities was negative CNY 720,158,865.53, an improvement from negative CNY 4,134,492,391.95 in the previous year[78]. - Cash and cash equivalents at the end of the period were CNY 1,124,790,052.81, down from CNY 1,550,088,954.40, a decrease of 27.53%[78]. Assets and Liabilities - Total assets increased by 0.92% to 33,234,764,372.58 from 32,931,269,465.12[42]. - Current assets rose to 26,196,922,042.30, up from 25,558,408,671.64, indicating a growth of approximately 2.52%[42]. - Non-current assets decreased by 4.54% to 7,037,842,330.28 from 7,372,860,793.48[42]. - Total liabilities as of September 30, 2022, were approximately ¥24.08 billion, compared to ¥23.91 billion in the previous year[51]. - Total liabilities increased to CNY 24,076,567,538.21 from CNY 23,907,952,496.94, reflecting a growth of 0.71%[85]. - Long-term borrowings rose to CNY 9,258,143,373.47, up from CNY 8,099,103,977.98, indicating an increase of 14.29%[81]. Operating Costs and Expenses - The company's operating costs for the first three quarters of 2022 were approximately ¥2.83 billion, down from ¥5.44 billion in the same period of 2021[71]. - The company's research and development expenses for the third quarter of 2022 were approximately ¥2.60 million, slightly up from ¥2.34 million in the same quarter of 2021[71]. Corporate Developments - The company plans to actively promote the management of its subsidiary Tianlong Technology Co., Ltd. by Kewah Bioengineering Co., Ltd.[24]. - The company is currently undergoing a major asset restructuring, which is temporarily suspended pending further developments[24]. - The company has received court rulings that have lifted restrictions on its shareholder rights related to its 62% stake in Tianlong Technology[48]. - The company is in the process of negotiating a settlement regarding arbitration cases involving its associate company, Kehua Bio[48].

Financial Performance - The company's operating revenue for Q3 2022 was ¥599,753,231.61, a decrease of 78.41% compared to the same period last year[6] - The net profit attributable to shareholders for Q3 2022 was -¥156,773,709.71, representing a decline of 191.49% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥159,535,723.23, down 188.25% from the previous year[6] - Basic earnings per share for Q3 2022 were -¥0.08, a decrease of 180.00% year-on-year[9] - The net profit for the third quarter of 2022 was -62,892,136.71 RMB, compared to a net profit of 638,914,506.19 RMB in the same period of 2021, representing a significant decline[39] - The total profit for the third quarter was -71,601,240.52 RMB, down from 826,549,306.12 RMB year-over-year[39] - The basic and diluted earnings per share were both -0.03 RMB, compared to 0.35 RMB in the previous year[41] - The total comprehensive income for the third quarter was -47,254,905.93 RMB, compared to 628,266,962.44 RMB in the same period of 2021[41] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥360,905,580.42, a decrease of 86.52% compared to the same period last year[6] - Cash inflows from operating activities totaled 3,527,676,767.96 RMB, a decrease from 7,141,008,311.69 RMB in the same period last year[44] - Cash outflows from operating activities amounted to 3,166,771,187.54 RMB, compared to 4,463,295,663.64 RMB in the previous year[44] - The net cash flow from operating activities was 360,905,580.42 RMB, down from 2,677,712,648.05 RMB year-over-year[44] - The net cash flow from investing activities was 505,454,824.60 RMB, compared to -31,378,744.11 RMB in the same period last year[46] - The net cash flow from financing activities was -720,158,865.53 RMB, an improvement from -4,134,492,391.95 RMB in the previous year[46] Assets and Liabilities - Total assets at the end of the reporting period were ¥32,881,552,040.04, an increase of 0.27% from the end of the previous year[9] - The equity attributable to shareholders at the end of the reporting period was ¥8,802,406,692.85, a decrease of 0.88% from the previous year[9] - The total assets of the company as of the reporting date were approximately $32.88 billion, slightly up from $32.79 billion[33] - Total liabilities increased to approximately $24.08 billion from $23.91 billion year-on-year[33] - Long-term borrowings rose to approximately $9.26 billion, compared to $8.10 billion in the previous year[33] - The company's equity attributable to shareholders was approximately $8.80 billion, a slight decrease from $8.88 billion year-on-year[33] Revenue and Costs - Total operating revenue for the first three quarters of 2022 was approximately $2.75 billion, a decrease from $6.17 billion in the same period of 2021[35] - Total operating costs for the first three quarters of 2022 amounted to approximately $2.83 billion, down from $5.44 billion year-on-year[35] - The company's net investment income for the first three quarters of 2022 was approximately $5.63 million, compared to $132.31 million in the same period of 2021[35] Cash and Receivables - As of September 30, 2022, the company reported cash and cash equivalents of CNY 1,971,366,142.51, an increase from CNY 1,479,832,141.75 on December 31, 2021, representing a growth of approximately 33.3%[27] - The company's accounts receivable increased to CNY 361,356,812.05 from CNY 289,619,181.94, reflecting a growth of about 24.8% year-over-year[27] - Inventory stood at CNY 23,272,793,860.69, slightly decreasing from CNY 23,354,222,314.55, indicating a marginal decline of approximately 0.3%[27] - The cash and cash equivalents at the end of the period were 1,124,790,052.81 RMB, down from 1,550,088,954.40 RMB year-over-year[46] Strategic Developments - The decline in operating revenue was primarily due to reduced revenue recognition in the real estate sector, influenced by market conditions and the impact of COVID-19[14] - The company reported a significant decrease in cash flow from sales, contributing to the overall decline in financial performance[14] - The company has not disclosed any new product developments or market expansion strategies in this report[14] - The company is currently in a negotiation phase regarding arbitration with a subsidiary, with ongoing plans to acquire 38% equity in Xi'an Tianlong Technology Co., Ltd. and Suzhou Tianlong Biotechnology Co., Ltd.[23] - The company has suspended its major asset restructuring process due to regulatory requirements, with updates to be disclosed as the situation progresses[26] - The company has engaged in securities lending activities, with 2,770,000 shares involved in the securities lending program[21] - The company’s major shareholders do not have any known relationships or coordinated actions with other shareholders, ensuring independent ownership structures[20] - The company is actively working to resolve litigation disputes related to its subsidiary, aiming to restore shareholder rights and manage associated risks[23] - The company’s total assets and liabilities will be disclosed in future reports, with a focus on maintaining transparency in financial performance[26] Research and Development - Research and development expenses for the first three quarters of 2022 were approximately $2.60 million, compared to $2.34 million in the same period of 2021[35] - Deferred tax assets increased to approximately $628.00 million from $593.07 million year-on-year[33]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,154,787,271.55, a decrease of 36.46% compared to ¥3,391,313,262.05 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥95,908,156.75, down 79.56% from ¥469,292,014.63 in the previous year[23]. - The net cash flow from operating activities was ¥345,049,877.99, a significant decline of 86.83% compared to ¥2,620,401,781.93 in the same period last year[23]. - The basic earnings per share for the first half of 2022 was ¥0.05, representing an 80.00% decrease from ¥0.25 in the previous year[24]. - The weighted average return on net assets was 1.07%, down 4.21 percentage points from 5.28% in the same period last year[24]. - The company achieved operating revenue of RMB 2.155 billion, a year-on-year decrease of 36.46%[42]. - Net profit attributable to shareholders was RMB 96 million, down 79.56% year-on-year[41]. - Operating cash flow decreased by 86.83%, totaling RMB 345 million, primarily due to reduced sales collections[42]. - The net profit after deducting non-recurring gains and losses is approximately 95.90 million RMB, a decrease of 80.33% year-on-year[161]. - The interest coverage ratio has decreased by 53.62% to 0.64, indicating a decline in profitability[161]. Assets and Liabilities - The total assets at the end of the reporting period were ¥32,936,973,785.11, a slight increase of 0.44% compared to ¥32,793,502,605.08 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were ¥8,947,135,045.87, an increase of 0.75% from ¥8,880,945,715.41 at the end of the previous year[23]. - Total assets increased to CNY 32,936,973,785.11 from CNY 32,793,502,605.08, reflecting a growth of approximately 0.44%[171]. - Total liabilities amounted to CNY 23,986,637,513.84, slightly up from CNY 23,907,952,496.94, showing a marginal increase of about 0.33%[171]. - Short-term borrowings decreased significantly to CNY 602,952,425.00 from CNY 1,319,015,151.20, a reduction of about 54.4%[169]. - Total equity attributable to shareholders increased to CNY 8,947,135,045.87 from CNY 8,880,945,715.41, representing a growth of approximately 0.75%[171]. Cash Flow - The company reported a significant increase in other payables, rising to CNY 3,818,028,529.85 from CNY 1,998,411,438.95[178]. - The total cash outflow from operating activities was CNY 2,151,853.97 million, compared to CNY 3,295,322.01 million in the first half of 2021[191]. - The net cash flow from operating activities for the first half of 2022 was 168,218,104.28, a decrease of 93.5% compared to 2,574,904,805.82 in the first half of 2021[198]. - Cash inflow from financing activities was 1,257,771,932.93, an increase from 800,000,000.00 in the previous year[200]. - The net cash flow from financing activities was -22,135,133.40, a significant improvement from -4,007,766,335.00 in the first half of 2021[200]. Strategic Initiatives - The company is expanding into new industries, focusing on real estate, consumer goods, and the biopharmaceutical health sector, with a strategic emphasis on high-end residential properties[34]. - The company plans to leverage opportunities in the Greater Bay Area and Hainan Free Trade Port to enhance overall competitiveness[56]. - The company is focused on optimizing project investment structures and expanding financing channels to support development during its transformation phase[56]. - The company plans to enhance market expansion strategies and invest in new technologies to drive future growth[182]. Governance and Compliance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[8]. - The company has made commitments to avoid competition with Haidao Company and to reduce and standardize related party transactions[69]. - The company has a long-term commitment to improve its governance structure and ensure independence from related parties in personnel, finance, assets, and business[69]. - The company has confirmed that there are no ongoing investigations by judicial authorities or the China Securities Regulatory Commission regarding criminal or regulatory violations[94]. Risks and Challenges - The company has detailed descriptions of industry risks and market risks in the report, which investors should review[10]. - The real estate industry faces challenges due to economic pressures, but government policies are expected to support a gradual recovery in the second half of 2022[32]. - The report indicates that there is uncertainty regarding the outcome of the arbitration, which may pose investment risks[128]. Shareholder Information - The company held three temporary shareholder meetings in 2022, with the first on January 7, the second on February 16, and the third on April 11[58][61]. - As of the report date, the total number of ordinary shareholders was 73,849[135]. - The largest shareholder, Zhuhai Investment Holdings, holds 842,344,480 shares, representing 44.69% of the total shares, with 420,000,000 shares pledged[137]. Bond Issuance - The company issued bonds totaling 1,020,000,000 RMB with a 6% interest rate, maturing in May 2023[146]. - The company also issued bonds of 600,000,000 RMB at a 3.5% interest rate, maturing in July 2023[146]. - Another bond issuance of 600,000,000 RMB at a 4.2% interest rate is set to mature in July 2023[146]. - The company has a bond issuance of 800,000,000 RMB at a 6.5% interest rate, maturing in June 2023[149]. - A new bond issuance of 400,000,000 RMB at a 7% interest rate is scheduled to mature in March 2025[149].

Financial Performance - The company's operating revenue for 2021 was ¥7,133,106,865.27, representing an increase of 11.65% compared to ¥6,388,966,672.69 in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥320,557,782.53, a decrease of 42.63% from ¥558,726,895.90 in 2020[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 322.10 million, a decrease of 42.04% compared to CNY 555.73 million in the previous year[26]. - Basic earnings per share decreased by 43.33% to CNY 0.17 from CNY 0.30 in the previous year[26]. - The weighted average return on equity decreased by 3.15 percentage points to 3.73% from 6.88% in the previous year[26]. - The net profit attributable to shareholders for Q4 was CNY -320.08 million, primarily due to reduced settlement amounts for entrusted development projects[31]. - The total revenue for Q3 was CNY 2.78 billion, with Q1 and Q2 revenues of CNY 1.72 billion and CNY 1.67 billion respectively[27]. - The company achieved a revenue of 7.133 billion yuan in 2021, representing a year-on-year growth of 11.65%[58]. - The operating cost for the same period was 5.285 billion yuan, which increased by 18.19% compared to the previous year, primarily due to the growth in the real estate sector[63]. - The total assets decreased by 12.48% to CNY 32.79 billion from CNY 37.47 billion in the previous year[26]. - The company reported a significant increase of 90.10% in net cash flow from operating activities, amounting to 3.460 billion yuan[59]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of ¥1 per 10 shares, totaling approximately ¥188,500,579.50 based on a total share capital of 1,885,005,795 shares[6]. - The company's profit available for distribution to shareholders at the end of 2021 was 1,117,143,931 RMB[155]. - The company has a complete decision-making process for profit distribution, ensuring the protection of minority shareholders' rights[155]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 1,848.50 million[122]. - The company held one shareholders' meeting during the reporting period, ensuring equal voting rights for all shareholders, particularly minority shareholders[111]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The company adheres to internal control regulations to ensure compliance and enhance operational management and risk prevention capabilities[115]. - The internal control audit for 2021 was conducted by a reputable accounting firm, resulting in a standard unqualified opinion[164]. - The company conducted a self-examination in accordance with the China Securities Regulatory Commission's requirements and found no major issues needing rectification in corporate governance[166]. - The company has committed to improving its internal control systems and enhancing corporate governance continuously[166]. Strategic Initiatives and Future Plans - The company is developing the "Hainan Sanya He Lian Central Business District" project, which is expected to become a high-end tourism retail commercial project, receiving significant attention as a key project in Hainan Province for 2021[40]. - The company plans to acquire 100% equity of the duty-free group to enhance its strategic procurement resources and strengthen its core competitiveness in the duty-free business[41]. - The company aims to optimize its industrial structure, focusing on duty-free business, biomedicine, and high-quality real estate as core sectors[99]. - The company plans to enhance its procurement operations and develop duty-free and cross-border business models in 2022[102]. - The company will accelerate the construction of key projects such as the Sanya Heliang project and the Hengqin Innovation project to support its strategic layout in the consumer sector[102]. Market and Industry Insights - The real estate industry is expected to see continued policy support in 2022, focusing on meeting reasonable housing demands[95]. - The health industry is projected to exceed RMB 16 trillion by 2030, driven by national policies and an aging population[96]. - The company is actively responding to the "Yue Gang Ao Greater Bay Area" policy to promote transformation and upgrade its industrial structure for high-quality development[41]. - The company is leveraging its flexible operational system to enhance the "online + offline" shopping channels and membership marketing system for better consumer service[39]. Employee and Management Information - The company reported a total of 1,641 employees, with 70 in the parent company and 293 in major subsidiaries[149]. - The workforce includes 870 production staff, 188 sales personnel, and 387 technical staff[149]. - The company has implemented a differentiated compensation system linked to performance to align employee actions with corporate goals[150]. - Monthly training programs are organized covering various topics such as project management and customer relations[151]. Risk Management - The company has detailed descriptions of industry and market risks in the report, emphasizing the need for investors to understand potential risks[8]. - The company is closely monitoring national and local policy changes to improve its risk resistance capabilities amid significant policy risks in the real estate sector[106]. - The company is committed to enhancing its R&D and production capabilities for essential pandemic prevention materials, such as masks, to support the efficient supply system for epidemic prevention and livelihood materials in Zhuhai[105]. Related Party Transactions and Conflicts of Interest - The company has committed to avoiding any competitive business activities with Gree Real Estate to prevent conflicts of interest[174]. - The company has pledged to reduce and standardize related party transactions with Gree Real Estate[174]. - The Urban Construction Group and its controlled companies will not participate in any business activities that may compete with Gree Real Estate, ensuring no conflicts of interest arise[180].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,343,141,536.58, a decrease of 22.13% compared to the same period last year[5] - Net profit attributable to shareholders was ¥129,387,829.06, down 43.21% year-on-year[7] - Basic and diluted earnings per share were both ¥0.07, representing a decrease of 41.67%[5] - Net profit for the first quarter was CNY 128.99 million, down from CNY 227.41 million, indicating a decline of approximately 43.3% year-over-year[35] - Total revenue for the first quarter decreased to CNY 1.34 billion from CNY 1.72 billion, a drop of around 22.5% year-over-year[33] - The company reported a decrease in commission income to CNY 1.18 billion from CNY 1.45 billion, a decline of about 18.4% year-over-year[33] - The company’s comprehensive income totaled CNY 130.76 million, down from CNY 227.63 million, reflecting a decrease of approximately 42.5% year-over-year[35] - The company reported a net investment income of CNY 5.58 million, significantly down from CNY 61.17 million, indicating a decline of approximately 90.9% year-over-year[35] Cash Flow - The net cash flow from operating activities was ¥188,889,335.76, reflecting a significant decline of 84.56%[5] - The total cash inflow from operating activities was CNY 1,250,463,278.62, a decrease of approximately 62.4% compared to CNY 3,320,082,673.14 in the same period last year[37] - The net cash flow from operating activities was CNY 188,889,335.76, down from CNY 1,223,265,918.81, reflecting a decline of about 84.5% year-over-year[37] - Cash inflow from investment activities totaled CNY 517,555,775.40, significantly higher than CNY 49,216,030.41 in the previous year[39] - The net cash flow from investment activities was CNY 512,342,372.50, compared to a negative CNY 9,689,350.49 in the same quarter last year[39] - Cash inflow from financing activities reached CNY 2,290,640,000.00, an increase from CNY 1,189,300,000.00 year-over-year[39] - The net cash flow from financing activities was CNY 563,761,595.50, up from CNY 328,719,276.67 in the previous year[39] - The total cash and cash equivalents at the end of the period amounted to CNY 2,238,829,761.23, down from CNY 4,584,985,640.83 at the end of the same quarter last year[39] Assets and Liabilities - Total assets at the end of the reporting period were ¥34,078,159,229.90, an increase of 3.92% from the end of the previous year[7] - The company's total liabilities as of March 31, 2022, were RMB 34,078,159,229.90, compared to RMB 32,793,502,605.08 at the end of 2021, marking an increase of about 3.9%[27] - Total liabilities increased to CNY 24.91 billion, up from CNY 23.91 billion, representing a growth of approximately 4.2% year-over-year[30] - Owner's equity rose to CNY 9.17 billion, compared to CNY 8.89 billion, reflecting an increase of about 3.2% year-over-year[32] - The company's long-term equity investments were valued at RMB 1,841,654,012.41, a slight increase from RMB 1,839,124,727.04[27] - The total non-current assets decreased to RMB 6,681,136,469.15 from RMB 7,235,093,933.44, reflecting a decline of approximately 7.7%[27] Shareholder Information - The top ten shareholders held a combined 52.27% of the company's shares, with the largest shareholder owning 44.44%[15] - Shareholders' equity attributable to the parent company was ¥9,168,387,172.81, up 3.24% year-on-year[7] Other Financial Metrics - The weighted average return on equity was 1.44%, a decrease of 1.23 percentage points[5] - Non-recurring gains and losses included government subsidies amounting to ¥801,652.72[8] - Accounts receivable increased to RMB 489,367,485.54 from RMB 289,619,181.94, representing a growth of about 69% year-over-year[23] - Total current assets reached RMB 27,397,022,760.75, up from RMB 25,558,408,671.64, indicating an increase of approximately 7.2%[27] - Inventory stood at RMB 23,366,055,759.36, slightly up from RMB 23,354,222,314.55, showing a marginal increase[27] - The company has not disclosed any new product developments or market expansion strategies in the current report[23]

Financial Performance - The company's operating revenue for Q3 2021 was ¥2,778,038,552.22, representing a year-on-year increase of 118.44%[7] - The net profit attributable to shareholders for Q3 2021 was ¥171,349,504.99, showing a slight decrease of 2.11% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥180,776,859.35, which increased by 52.80% year-on-year[7] - The company's revenue for the year-to-date reached ¥6,169,351,814.27, with a year-on-year increase of 45.16%[7] - Net profit for the first three quarters of 2021 was ¥638,914,506.19, representing a 7% increase from ¥597,175,396.41 in the previous year[38] - Total operating revenue for the first three quarters of 2021 reached ¥6,169,351,814.27, a significant increase of 45.2% compared to ¥4,250,149,415.45 in the same period of 2020[36] - Total profit for the first three quarters of 2021 was ¥826,549,306.12, compared to ¥786,148,130.27 in 2020, reflecting a growth of 5.5%[36] - The total comprehensive income for the first three quarters of 2021 was ¥628,266,962.44, compared to ¥594,037,068.55 in 2020, showing a positive trend[38] Earnings and Shareholder Information - The basic earnings per share for Q3 2021 was ¥0.10, an increase of 11.11% compared to the same period last year[9] - The basic earnings per share for the first three quarters of 2021 were ¥0.35, compared to ¥0.32 in the same period of 2020[38] - The total number of common shareholders at the end of the reporting period was 71,290, with the largest shareholder, Zhuhai Investment Holdings Co., Ltd., holding 847,339,780 shares, representing 43.57% of the total[18] - The company completed the cancellation of 116,404,534 repurchased shares, reducing the registered capital to RMB 1,944,686,896[22] - The shareholding ratio of the controlling shareholder, Zhuhai Investment Holdings Co., Ltd., increased from 41.11% to 43.57% following the share cancellation[24] - The top ten shareholders include Gree Real Estate Co., Ltd. with 89,341,901 shares (4.59%) and Hong Kong Central Clearing Limited with 71,049,979 shares (3.65%)[21] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥33,085,012,896.46, reflecting a decrease of 11.70% compared to the end of the previous year[9] - As of September 30, 2021, total assets amounted to RMB 33,085,012,896.46, a decrease from RMB 37,470,008,240.94 at the end of 2020, reflecting a decline of approximately 11.4%[27] - Current assets totaled RMB 26,156,563,424.25, down from RMB 29,883,597,195.40, indicating a decrease of about 12.1%[27] - Total liabilities decreased from RMB 29,039,131,288.46 to RMB 24,024,736,602.25, a decline of approximately 17.3%[31] - The company's equity attributable to shareholders rose from RMB 8,422,808,055.50 to RMB 9,053,934,410.67, an increase of about 7.5%[31] - Long-term borrowings decreased from RMB 10,147,861,255.34 to RMB 8,427,799,267.67, a reduction of approximately 16.9%[31] Cash Flow and Investments - The cash flow from operating activities for the year-to-date was ¥2,677,712,648.05, which increased by 45.07% compared to the same period last year[9] - Cash flow from operating activities for the first three quarters of 2021 was ¥2,677,712,648.05, an increase of 45.2% from ¥1,845,812,883.42 in 2020[42] - Cash outflow from investment activities totaled approximately $2.19 billion, with a net cash flow from investment activities of -$2.10 billion[44] - Cash inflow from financing activities amounted to approximately $6.38 billion, while cash outflow from financing activities was about $10.51 billion, resulting in a net cash flow from financing activities of -$4.13 billion[44] - The net increase in cash and cash equivalents was -$1.49 billion, with a beginning balance of approximately $3.04 billion, leading to an ending balance of about $1.55 billion[44] - The company reported a significant increase in borrowings, with cash received from loans totaling approximately $5.58 billion[44] - The company paid approximately $9.42 billion in debt repayments during the period[44] - The company issued bonds, receiving cash of $800 million[44] Operational Costs and Expenses - The company experienced a 58.24% increase in operating costs, primarily due to rising real estate costs during the period[17] - Total operating costs for the first three quarters of 2021 were ¥5,440,327,407.12, up 54.4% from ¥3,521,559,081.09 in 2020[36] - Research and development expenses for the first three quarters of 2021 amounted to ¥2,343,035.53, indicating ongoing investment in innovation[36] Other Information - The company is currently involved in an arbitration case with Kehua Bioengineering Co., Ltd. regarding a dispute from an investment agreement signed in 2018[25] - The company has not disclosed any financing or margin trading activities involving the top ten shareholders[21] - The company’s stock has no pledges, markings, or frozen conditions as of the reporting period[18] - The company’s financial statements for the quarter are subject to audit[26] - The company did not apply the new leasing standards starting from 2021[44]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 3.39 billion, representing a year-on-year increase of 13.86% compared to RMB 2.98 billion in the same period last year[22]. - The net profit attributable to shareholders of the listed company was approximately RMB 469.29 million, an increase of 11.15% from RMB 422.22 million in the previous year[22]. - The net profit after deducting non-recurring gains and losses was approximately RMB 487.52 million, reflecting a growth of 16.42% compared to RMB 418.77 million in the same period last year[22]. - The net cash flow from operating activities was approximately RMB 2.62 billion, a significant increase from RMB 3.50 million in the previous year[22]. - The basic earnings per share for the first half of 2021 were RMB 0.25, an increase of 8.70% compared to RMB 0.23 in the same period last year[22]. - The company achieved a revenue of CNY 3.39 billion, representing a year-on-year growth of 13.86%[37]. - The real estate segment generated a revenue of CNY 3.05 billion, up 13.96% compared to the previous year, with a total profit of CNY 601 million, an increase of 8.26%[37]. - The company reported a significant increase in cash flow from operating activities, amounting to CNY 2.62 billion, a substantial rise from the previous period[40]. Assets and Liabilities - The total assets of the company at the end of the reporting period were approximately RMB 34.66 billion, a decrease of 7.49% from RMB 37.47 billion at the end of the previous year[22]. - The total liabilities decreased from 29.04 billion to 25.77 billion, a reduction of approximately 7.8%[161]. - Total equity increased from 8.43 billion to 8.90 billion, an increase of approximately 5.5%[161]. - The company reported a net asset of 72.98 billion RMB and a debt-to-asset ratio of 19.07% as of June 2021[140]. - The company has a total guarantee balance of 293.01 billion RMB, which is 401.49% of its net assets[140]. Strategic Initiatives - The company plans to acquire 100% equity of a duty-free group to enhance its strategic resources in the duty-free business[30]. - The company is actively expanding into new industries, including the development of the "Zhuhai Duty-Free MALL" platform to support pandemic prevention and supply essential goods[30]. - The company plans to focus on three core sectors: large consumer industries featuring duty-free businesses, promising biomedicine and health industries, and a refined real estate sector[36]. - The company is closely monitoring national and local policy changes to enhance its risk resistance capabilities in response to significant policy risks in the real estate sector[51]. - The company aims to accelerate project development and increase sales revenue and cash collection speed to mitigate financial risks associated with long project cycles and substantial funding needs[51]. Governance and Compliance - The company has established a long-term commitment to avoid any related party transactions that could harm the interests of Gree Real Estate and its shareholders[71]. - The commitments made by the shareholders and related parties are aimed at maintaining a competitive and fair business environment for Gree Real Estate[71]. - The company has not been under criminal investigation or administrative penalties in the last three years, ensuring compliance with regulatory standards[83]. - The company has not faced any significant administrative or criminal penalties related to the securities market in the last five years[88]. - The company has committed to compensating investors for any losses resulting from misleading statements or significant omissions in the information provided[76]. Cash Flow and Financing - The company reported cash inflow from investment activities of CNY 633,584,320.73, compared to CNY 61,851,311.59 in the previous year, marking a substantial increase[187]. - The net cash flow from financing activities was negative at CNY -4,786,016,149.11, compared to a positive CNY 1,355,325,473.78 in the first half of 2020[187]. - The company paid CNY 8,239,204,264.79 in cash for debt repayment, which is significantly higher than CNY 2,482,707,560.83 in the previous year[187]. - The ending balance of cash and cash equivalents was CNY 1,431,732,003.61, down from CNY 2,530,980,080.09 at the end of the previous year[187]. - The company has established a first-priority mortgage guarantee for its bonds, ensuring timely repayment of principal and interest[143]. Market and Industry Risks - The company has disclosed various industry and market risks in the report, emphasizing the importance of risk awareness for investors[8]. - The company is actively analyzing market trends and competition in first-tier cities to adapt to the increasingly complex real estate environment[51]. - The company has implemented a targeted poverty alleviation program in Guangdong Province, with investments leading to an expected average income increase of 1,500 yuan per person through agricultural initiatives[62].

Financial Performance - The company's operating revenue for 2020 was approximately ¥6.39 billion, representing a 52.38% increase compared to ¥4.19 billion in 2019[25]. - The net profit attributable to shareholders for 2020 was approximately ¥558.73 million, a 6.17% increase from ¥526.28 million in 2019[25]. - The net cash flow from operating activities for 2020 was approximately ¥1.82 billion, reflecting a 5.48% increase from ¥1.73 billion in 2019[25]. - The total assets attributable to shareholders at the end of 2020 were approximately ¥8.42 billion, a 7.24% increase from ¥7.85 billion at the end of 2019[25]. - Basic earnings per share rose by 11.11% to CNY 0.30 in 2020 from CNY 0.27 in 2019[28]. - The weighted average return on equity increased by 0.22 percentage points to 6.88% in 2020 from 6.66% in 2019[28]. - The company reported a net profit attributable to shareholders of 559 million RMB, a growth of 6.17% year-on-year[53]. - The company's cash flow from operating activities was 1.82 billion RMB, showing a slight increase of 5.48% compared to the previous year[54]. Real Estate Development - The company achieved a new breakthrough in regional layout by acquiring land use rights in Sanya for the Phoenix Coast project[39]. - The company plans to continue expanding its real estate business while actively developing new industries, including big consumption and biomedicine[38]. - The real estate segment generated revenue of 5.40 billion RMB, an increase of 119.78% compared to the previous year, with a total profit of 866 million RMB, up 68.83%[52]. - The total cost of real estate development was ¥3,299,691,644.60, accounting for 57.25% of total costs, an increase of 136.13% compared to the previous year[60]. - The company has ongoing real estate projects in Zhuhai, Chongqing, and Sanya, with a total planned construction area of 1,000,000 square meters[75]. - The company plans to focus on a "boutique" strategy in the real estate sector to enhance competitiveness in 2021[96]. Strategic Initiatives - The company plans to enhance its duty-free business through strategic acquisitions and partnerships, aiming for high-quality development in the Greater Bay Area[1]. - The company is pursuing a capital expansion strategy through the securities and financial markets to increase asset scale[94]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million set aside for potential deals[135]. - The company aims to expand its consumer business, particularly in the development of the Hong Kong-Zhuhai-Macao Bridge artificial island commercial area and the Sanya Phoenix Bay project, targeting a new coastal commercial landmark[98]. Governance and Compliance - The company has maintained a consistent governance structure with all board members present for meetings, ensuring accountability[5]. - The company emphasizes the importance of a clear management structure and aims to establish a professional management team to adapt to market changes[99]. - The company is committed to integrating party leadership into its core operations to enhance its development capabilities[99]. - The company has committed to avoiding and regulating related party transactions with Gree Real Estate, ensuring that any unavoidable transactions are conducted on a fair and reasonable basis[117]. Risks and Challenges - The company has detailed industry and market risks in its report, indicating awareness of potential challenges ahead[9]. - The company is facing risks including policy risks due to macroeconomic controls in the real estate sector, which may impact its operations[100]. - The company is also addressing financial risks by accelerating project development and optimizing investment structures to ensure sufficient funding for ongoing projects[101][103]. Shareholder and Investment Activities - The company completed a share buyback of 74,165,634 shares, utilizing a total of RMB 365.50 million[167]. - The company acquired 95,863,038 shares of Kehua Bio-Engineering, resulting in an investment income of 98 million RMB[52]. - The company signed agreements to issue shares and pay cash to acquire 100% equity of the Duty-Free Group from Zhuhai State-owned Assets Supervision and Administration Commission[164]. - The company plans to raise matching funds through a private placement to General Technology Group[164]. Corporate Social Responsibility - The company invested RMB 2.44 million in poverty alleviation projects, successfully lifting 172 households out of poverty[175].