Financial Performance - In 2018, the company achieved a net profit attributable to shareholders of 28,692,673.84 CNY, a significant recovery from a loss of 78,220,808.80 CNY in 2017, marking an improvement of 136.7%[6]. - The company's operating revenue for 2018 was 221,748,436.06 CNY, representing a substantial increase of 798.57% compared to 24,677,988.06 CNY in 2017[22]. - The basic earnings per share for 2018 was 0.07 CNY, a recovery from a loss of 0.18 CNY per share in 2017[23]. - The weighted average return on equity for 2018 was 14.61%, a significant improvement from -35.60% in 2017[23]. - The company reported a total profit for 2018 of ¥34,863,668.17, compared to a loss of ¥78,220,808.80 in 2017, marking a complete turnaround[51]. - The company reported a net profit of ¥28,692,673.84, recovering from a net loss of ¥78,220,808.80 in the previous year[165]. - Total operating revenue for the year reached ¥221,748,436.06, a significant increase from ¥24,677,988.06 in the previous year, representing a growth of approximately 798%[163]. Assets and Liabilities - The total assets of the company at the end of 2018 were 334,549,100.56 CNY, which is a 19.86% increase from 279,122,411.67 CNY at the end of 2017[22]. - The total liabilities increased by 26.65% to ¥123,460,359.94, mainly due to an increase in accounts payable[55]. - The total current assets rose by 76.70% to ¥122,168,859.76, driven primarily by an increase in inventory[54]. - The company's cash and cash equivalents decreased by 29.44% to ¥43,435,518.71 from ¥61,560,867.02 in the previous period[54]. - The total equity attributable to the parent company was RMB 211,088,740.62, up from RMB 181,639,846.62, reflecting an increase of approximately 16.1%[159]. Cash Flow - The company reported a net cash flow from operating activities of -18,029,044.85 CNY in 2018, worsening from -12,279,178.24 CNY in 2017[22]. - The operating cash flow for the period was negative at RMB -18,029,044.85, compared to RMB -12,279,178.24 in the previous year[38]. - The net cash flow from investment activities was CNY 3,105,112.43, an increase from -CNY 2,577,908.21 year-on-year, attributed to dividends received from a subsidiary and the sale of a wholly-owned subsidiary[50]. - The company’s cash flow from financing activities decreased by 152.09% to -CNY 3,201,415.89, primarily due to no fundraising activities during the year[50]. Business Operations - The company’s main business remains focused on construction and decoration, with a strong emphasis on project contracting and BIM consulting services[31]. - The company has established a solid business relationship with key clients, ensuring a stable flow of projects and revenue[33]. - The company plans to acquire Shanghai Shangyuan Architectural Technology Co., Ltd. to enrich its business qualifications and achieve synergies in its main business operations[35]. - The company signed a business framework cooperation agreement with Shanghai Zhenlong Real Estate Development Co., Ltd. and others, enhancing its project execution capabilities[33]. - The company’s revenue from construction decoration and infrastructure projects became the main source of operating income, reflecting a strategic focus on these areas[42]. Risks and Legal Matters - The company has highlighted potential risks in its future development, which are detailed in the "Discussion and Analysis of Operating Conditions" section of the report[8]. - The company faced 360 lawsuits related to information disclosure violations, with total claims amounting to RMB 191.40 million, of which it was ordered to compensate for 355 cases[85]. - The company has recognized a provision for litigation costs totaling RMB 73.49 million as other current liabilities, reflecting estimated compensation and litigation fees[85]. - The company has an ongoing litigation risk with 228 unresolved cases, claiming RMB 49.70 million in damages, with an estimated future liability of RMB 20.58 million[88]. Shareholder Information - The total number of ordinary shareholders increased from 40,257 to 41,646 during the reporting period[108]. - The largest shareholder, Xiamen Baihui Investment Co., Ltd., holds 62,540,594 shares, accounting for 14.70% of the total shares[110]. - The second-largest shareholder, Xiamen Dayang Group Co., Ltd., holds 43,514,518 shares, representing 10.23% of the total shares[110]. - The company has no preferred shares as of the end of the reporting period[111]. Management and Governance - The board of directors consists of five members, including two independent directors, complying with legal and regulatory requirements[135]. - The company has implemented a strict separation of operations between itself and its controlling shareholder, ensuring independent accounting and responsibility[134]. - The company has established a performance evaluation mechanism for senior management, linking their annual salary to operational responsibilities, risks, and performance[141]. - The company has a dedicated information disclosure management system to ensure equal access to information for all shareholders[136]. Future Outlook - The company aims to achieve a revenue target of no less than 600 million RMB in 2019, contingent on various internal and external factors[75]. - The company plans to enhance its market presence through mergers and acquisitions, particularly in the curtain wall and window sectors[73]. - The company expects its main business revenue and profitability to maintain a growth trend from 2019 to 2022 based on existing contracts and project plans[97].

2019 年第三季度报告 公司代码：600193 公司简称：ST 创兴 上海创兴资源开发股份有限公司 2019 年第三季度报告 1 / 23 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 10 | 2019 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人翟金水、主管会计工作负责人郑再杰及会计机构负责人（会计主管人员）柯银霞 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 23 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 806,803,060.07 340,834,819.20 136.71 归属于上市公司股东 的净资产 ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥100,617,347.09, representing a 273.15% increase compared to ¥26,964,600.67 in the same period last year[18]. - The net profit attributable to shareholders for the same period was ¥2,021,770.59, an increase of 87.11% from ¥1,080,519.95 in the previous year[18]. - Operating profit reached ¥3,610,637.06, a significant increase compared to the previous year's loss of ¥266,617.07[32]. - Net profit attributable to the parent company was ¥2,021,770.59, up 87.11% year-on-year, mainly due to increased operating revenue and settlement of litigation cases[27]. - The total profit for the first half of 2019 was -5,146,729.80 RMB, worsening from -2,544,451.15 RMB in the same period of 2018, reflecting a decline of approximately 102.5%[90]. - The company reported a net loss of CNY 399,714,451.58 as of June 30, 2019, compared to a loss of CNY 401,736,222.17 at the end of 2018[79]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥48,647,247.61, a significant decrease of 1,898.94% compared to ¥2,704,222.28 in the previous year[18]. - Cash and cash equivalents decreased by 58.98% to CNY 17,819,243.50 from CNY 43,435,518.71 due to payments for litigation settlements and procurement costs[35]. - The total cash outflow from operating activities in the first half of 2019 was 160,212,144.68 RMB, compared to 35,144,607.56 RMB in the same period of 2018, showing an increase of approximately 355.5%[93]. - Cash and cash equivalents at the end of the first half of 2019 were 17,819,243.50 RMB, down from 69,481,175.70 RMB at the end of the first half of 2018, indicating a decrease of approximately 74.4%[93]. Assets and Liabilities - The total assets decreased by 9.48% to ¥308,517,169.65 from ¥340,834,819.20 at the end of the previous year[18]. - The company's total liabilities were CNY 92,975,441.86, down from CNY 127,422,022.00, representing a reduction of approximately 27.0%[79]. - The company's current assets totaled CNY 97,355,591.03, down from CNY 128,469,017.76 at the end of 2018, indicating a decrease of about 24.2%[77]. - Accounts payable decreased by 31.95% to CNY 60,833,501.07 from CNY 89,391,753.48, primarily due to payments for goods and services[35]. Shareholder Equity - The net assets attributable to shareholders increased by 1.00% to ¥215,541,727.79 from ¥213,412,797.20 at the end of the previous year[18]. - The company's equity attributable to shareholders increased slightly to CNY 215,541,727.79 from CNY 213,412,797.20, an increase of about 1.0%[79]. - No profit distribution or capital reserve fund transfer plans were proposed for the first half of 2019, with no dividends or stock bonuses declared[49]. Management and Operational Efficiency - The company’s management expenses increased by 80.30% to ¥8,913,194.81, primarily due to higher audit consulting fees[30]. - The company is actively working to strengthen its internal control systems to mitigate management risks[43]. - The company has strengthened its information technology infrastructure to reduce operational costs and enhance customer experience[25]. Investments and Acquisitions - The company is actively investing in the curtain wall and window industries, continuing to acquire controlling stakes in Shanghai Dongjiang Architectural Decoration Engineering Co., Ltd.[25]. - The company plans to enhance its industry chain through external mergers and acquisitions to ensure sustainable development[42]. - The company has agreed to acquire a 60% stake in Shanghai Dongjiang Decoration Engineering Co., Ltd. for CNY 66 million[46]. Legal and Compliance Issues - The company is facing multiple lawsuits related to information disclosure violations, with a potential compensation amounting to approximately RMB 192,600[47]. - The company reached a settlement with 225 individual plaintiffs in a lawsuit, as announced on June 25, 2019[51]. Accounting Policies and Financial Reporting - The company has not disclosed any significant changes in accounting policies or estimates compared to the previous accounting period[64]. - The company adheres to the accounting standards issued by the Ministry of Finance and the China Securities Regulatory Commission[111]. - The company confirms its ability to continue as a going concern for at least 12 months from the reporting date[109]. Related Party Transactions - The company reported a total of 3,460,778.07 RMB in related party transactions, with a net decrease of 3,425,778.07 RMB during the period[60]. - The actual amount fulfilled in related transactions with Shanghai Zhenlong Real Estate Development Co., Ltd. was RMB 39,900 during the reporting period[55]. - The total contract amount for related transactions with Yunnan Happy World Investment Holding Co., Ltd. and others was approximately RMB 1.242 billion, with RMB 96,490,000 fulfilled in the reporting period[56].

Financial Performance - Operating revenue surged by 2,495.78% to CNY 54,028,808.15 year-on-year[5] - Net profit attributable to shareholders was CNY 1,550,914.41, a significant recovery from a loss of CNY 3,457,453.41 in the same period last year[5] - The weighted average return on net assets improved by 2.64 percentage points to 0.72%[5] - Operating profit for Q1 2019 was ¥3,345,122.24, a turnaround from a loss of ¥3,457,882.73 in the same period last year, driven by the growth in revenue[13] - Net profit for Q1 2019 was ¥1,550,914.41, compared to a net loss of ¥3,457,453.41 in Q1 2018, reflecting improved operational performance[13] - Total operating revenue for Q1 2019 was ¥54,028,808.15, a significant increase from ¥2,081,409.72 in Q1 2018[29] - Total operating costs amounted to ¥50,104,974.30, compared to ¥5,484,410.08 in the same period last year[29] - Total comprehensive income for Q1 2019 was ¥1,550,914.41, compared to a comprehensive loss of ¥3,457,453.41 in Q1 2018[30] - The company reported a total profit of ¥3,344,451.24 for Q1 2019, compared to a total loss of ¥3,457,453.41 in the same quarter last year[29] Cash Flow and Liquidity - Cash flow from operating activities showed a negative net amount of CNY -54,498,669.64, worsening from CNY -8,935,350.63 in the previous year[5] - The net cash flow from operating activities for Q1 2019 was -¥54,498,669.64, a decline from -¥8,935,350.63 in Q1 2018, mainly due to payments for raw materials and services[14] - The company reported a net cash flow from financing activities of ¥23,328,658.33 in Q1 2019, attributed to loans from financial institutions[14] - The net increase in cash and cash equivalents for the company was -¥31,199,391.31 in Q1 2019, compared to -¥8,935,350.63 in Q1 2018, indicating a decline in liquidity[36] - The ending balance of cash and cash equivalents was ¥12,236,127.40 as of the end of Q1 2019, down from ¥52,625,516.39 at the end of Q1 2018[36] - The company recorded cash inflows from financing activities of ¥23,500,000.00 in Q1 2019, with net cash flow from financing activities amounting to ¥23,328,658.33 after outflows of ¥171,341.67[36] Assets and Liabilities - Total assets increased by 2.51% to CNY 349,392,177.13 compared to the end of the previous year[5] - Total liabilities rose to CNY 134,374,885.52 from CNY 127,422,022.00, indicating an increase of about 5.57%[21] - The company's equity attributable to shareholders decreased to CNY 215,017,291.61 from CNY 213,412,797.20, reflecting a decline of approximately 0.75%[21] - Total current liabilities increased to CNY 134,374,885.52 from CNY 127,422,022.00, marking an increase of approximately 5.57%[21] - Total non-current assets amounted to CNY 300,491,870.72, remaining relatively stable compared to CNY 300,492,541.72[24] - The total liabilities and equity reached CNY 349,392,177.13, consistent with total assets, indicating a balanced sheet[21] Shareholder Information - The number of shareholders reached 39,752, indicating a broadening of the shareholder base[8] - The top ten shareholders collectively hold 49.53% of the total shares, with the largest shareholder owning 14.70%[8] Legal and Acquisition Activities - The company has reached settlements in 8 litigation cases during the reporting period, paying a total of ¥1,090,200.00 in compensation[16] - The company is in the process of acquiring 100% equity of Shanghai Shangyuan Architectural Technology Co., Ltd., with due diligence ongoing[16] - The company has signed a framework agreement for related construction projects with Shanghai Baihuixingrong Investment Holding Co., Ltd., which has been approved by the board[17] - The expected future compensation amount for unresolved litigation cases is estimated at ¥1,938,930.00 based on the first-instance judgment results[16] Other Financial Metrics - Basic and diluted earnings per share for Q1 2019 were both ¥0.004, compared to a loss of ¥0.008 per share in Q1 2018[30] - Management expenses increased to ¥3,467,136.17 from ¥3,743,116.55 year-over-year[29] - Financial expenses for Q1 2019 were ¥271,236.90, compared to a negative expense of -¥34,291.85 in Q1 2018[29] - Investment loss for Q1 2019 was ¥578,711.61, compared to a loss of ¥54,882.37 in the previous year[29] Current Assets and Receivables - Accounts receivable increased by 75.26% to CNY 32,880,515.38, primarily due to the recognition of receivables from engineering progress[11] - The company reported a decrease in cash and cash equivalents by 71.83% to CNY 12,236,127.40, mainly due to procurement activities[11] - Other receivables decreased slightly from CNY 20,059,222.89 to CNY 19,358,107.89, a reduction of about 3.48%[24] - The company reported a total current asset of CNY 20,074,715.75, down from CNY 20,775,427.83, a decrease of about 3.38%[24] Parent Company Performance - The company’s net cash flow from operating activities for the parent company was -¥179,668.76 in Q1 2019, slightly improved from -¥232,241.83 in Q1 2018[38] - The parent company reported cash inflows from operating activities of ¥3,871,093.23 in Q1 2019, compared to ¥1,001,117.01 in Q1 2018, marking a growth of approximately 287%[37] - The parent company’s cash outflows from operating activities totaled ¥4,050,761.99 in Q1 2019, up from ¥1,233,358.84 in Q1 2018[38] - The ending balance of cash and cash equivalents for the parent company was ¥34,768.77 at the end of Q1 2019, down from ¥960,131.41 at the end of Q1 2018[38] Product Development and Market Expansion - The company did not report any significant new product developments or market expansions during this quarter[39]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 31,016,730.42 in 2018, a significant recovery from a loss of RMB 78,220,808.80 in 2017, marking an improvement of over 139.7%[6] - Operating revenue for 2018 was RMB 229,145,985.37, representing an increase of 828.54% compared to RMB 24,677,988.06 in 2017[22] - Basic earnings per share improved to RMB 0.07 in 2018, compared to a loss of RMB 0.18 per share in 2017[23] - The weighted average return on equity was 15.70% in 2018, a significant recovery from -35.60% in 2017[23] - The company reported a net cash flow from operating activities of RMB -21,230,460.74, worsening from RMB -12,279,178.24 in 2017[22] - The company reported a significant reduction in management expenses by 43.03% to 6,336,596.57 CNY compared to the previous year[44] - The financial expenses decreased by 59.55% to 164,067.60 CNY, attributed to lower interest expenses during the reporting period[44] - The company reported a net profit of CNY 32,691,432.17 for 2018, compared to a net loss of CNY 66,913,664.11 in the previous year, indicating a significant turnaround in performance[167] Assets and Liabilities - The company's total assets increased by 22.11% year-on-year, reaching RMB 340,834,819.20 at the end of 2018, up from RMB 279,122,411.67 in 2017[22] - The net asset attributable to shareholders rose to RMB 213,412,797.20, reflecting a 17.49% increase from RMB 181,639,846.62 in 2017[22] - The total liabilities amounted to ¥127,422,022.00, which is 37.39% of total assets, reflecting a 30.71% increase from the previous period[53] - The company's cash and cash equivalents decreased by 29.44% to ¥43,435,518.71 from ¥61,560,867.02 in the previous period[53] - The total current assets rose to CNY 128.469 million from CNY 69.139 million, reflecting an increase of approximately 85.7%[157] - The total assets of the company increased to CNY 340.835 million from CNY 279.122 million, marking a growth of approximately 22%[157] Revenue Sources - The company’s main business remains focused on construction and decoration projects, including theme parks and high-end hotels, with a solid foundation in project contracting and consulting services[31] - The company’s business model emphasizes sustainable demand in the construction decoration industry, which typically requires renovations every 5-8 years[32] - The company's main business revenue increased due to construction decoration and architectural design consulting services, with construction decoration engineering and infrastructure engineering becoming the primary sources of revenue[41] - In the construction decoration segment, revenue was 176,713,578.21 CNY with a gross margin of 14.05%[40] - The building materials trade segment reported revenue of 48,333,351.25 CNY, with a gross margin of 12.25%, showing a slight decrease of 0.53 percentage points compared to the previous year[40] Strategic Developments - The company plans to focus on future development strategies, although specific new products or technologies were not detailed in the report[7] - The company is in the process of acquiring Shanghai Shangyuan Architectural Technology Co., Ltd. to enrich its business qualifications and achieve synergies in its main business operations[35] - The company aims to enhance its market position through mergers and acquisitions in the curtain wall and window sectors to strengthen its business qualifications and extend its industry chain[73] - The company plans to achieve a revenue target of no less than RMB 600 million in 2019, although this is subject to various uncertainties[74] Legal and Compliance Issues - The company has received 67 civil judgments from the Shanghai First Intermediate People's Court, ordering compensation for 355 cases, totaling approximately RMB 191.4 million, with a provision of RMB 73.49 million recognized as other current liabilities[85] - The company has reached settlements with 127 individual investors and 1 corporate investor, paying a total of RMB 45.92 million in compensation, with a difference of RMB 9.21 million reversed from previously recognized expenses[85] - The company has recognized an impairment provision of RMB 4,939,809.95 for its investment in Shanghai Xiagong, which has no actual operating business[70] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 41,646, an increase from 40,257 at the end of the previous month[108] - The largest shareholder, Xiamen Baihui Investment Co., Ltd., held 62,540,594 shares, representing 14.70% of the total shares[110] - The top ten shareholders collectively hold a significant portion of the company's shares, indicating concentrated ownership[110] Internal Control and Governance - The company has established a basic internal control system covering major business operations, with no significant deficiencies reported during the internal control process[142] - The audit report issued by Guangdong Zhengzhong Zhujiang Accounting Firm confirmed the effectiveness of the company's internal control over financial reporting as of December 31, 2018[149] - The company has implemented a performance evaluation system for senior management, ensuring accountability and motivation[136] Operational Efficiency - The company reported an operating profit of ¥28,055,569.04, compared to an operating loss of ¥8,994,783.46 in the previous year, marking a turnaround in profitability[163] - The company incurred total operating costs of CNY 190,953,981.51, leading to a negative cash flow from operating activities of CNY -21,230,460.74[169] - The net cash flow from operating activities was ¥31,222,064.29, a significant increase compared to ¥616,945.43 from the previous period, reflecting improved operational efficiency[173]

Financial Performance - In 2018, the company achieved a net profit attributable to shareholders of CNY 31,016,730.42, a significant recovery from a net loss of CNY 78,220,808.80 in 2017, marking an improvement of over 139.7%[6]. - The company's operating revenue for 2018 was CNY 229,145,985.37, representing an increase of 828.54% compared to CNY 24,677,988.06 in 2017[22]. - The basic earnings per share for 2018 was CNY 0.07, a recovery from a loss of CNY 0.18 per share in 2017[23]. - The company reported a significant reduction in management expenses by 43.03% to CNY 6,336,596.57, attributed to lower legal and restructuring costs[45]. - The company reported a net loss of ¥401,736,222.17, reflecting a decrease in undistributed profits compared to the previous period[51]. - The company reported a total comprehensive income of CNY 32,691,432.17 for 2018, contrasting with a total comprehensive loss of CNY -66,913,664.11 in the prior year[157]. Assets and Liabilities - The total assets of the company at the end of 2018 were CNY 340,834,819.20, which is a 22.11% increase from CNY 279,122,411.67 in 2017[22]. - The total liabilities rose by 30.71% to ¥127,422,022.00, primarily due to an increase in accounts payable[51]. - Cash and cash equivalents decreased by 29.44% to ¥43,435,518.71, primarily due to payments for investor litigation settlements and procurement of raw materials[50]. - Accounts receivable increased significantly by 38,033.29% to ¥18,761,218.56, mainly due to increased receivables from subsidiary engineering projects[50]. - The total current assets increased by 85.81% to ¥128,469,017.76, driven by the rise in inventory[50]. Cash Flow - The company reported a negative cash flow from operating activities of CNY 21,230,460.74 in 2018, worsening from a negative cash flow of CNY 12,279,178.24 in 2017[22]. - The operating cash flow for the reporting period was -21,230,460.74 RMB, indicating a negative cash flow situation[37]. - The net cash flow from operating activities decreased to -CNY 21,230,460.74, primarily due to unsettled construction projects[46]. - The cash flow from operating activities showed a net outflow of CNY -21,230,460.74, worsening from CNY -12,279,178.24 in the previous year[158]. Business Operations - The company’s main business remains focused on construction and decoration projects, including theme parks and high-end hotels, with a complete set of necessary qualifications and professional personnel[31]. - The company has signed a business framework cooperation agreement with several partners, including Shanghai Zhenlong Real Estate Development Co., Ltd., to provide construction and consulting services[33]. - The company is planning to acquire Shanghai Shangyuan Architectural Technology Co., Ltd. to enhance its business qualifications and achieve synergies in its main business operations[35]. - The company has maintained a solid business relationship with clients, ensuring a steady flow of projects and orders[33]. - The company’s main business revenue increased significantly, with construction decoration and infrastructure engineering becoming the primary sources of income[41]. Risks and Legal Matters - The company has outlined potential risks in its future development, which are detailed in the report[8]. - The company is currently involved in significant litigation, with a total compensation claim of RMB 191.40 million from 360 plaintiffs, of which the company has estimated a provision of RMB 73.49 million for potential liabilities[81]. - The company has received 67 civil judgments related to investment loss claims, with 355 cases resulting in partial compensation orders[80]. - The company recognized a significant litigation liability of 20.5787 million yuan related to ongoing lawsuits from 228 individual investors, with a total actual compensation amounting to 45.973 million yuan[137]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 41,646, an increase from 40,257 at the end of the previous month[101]. - The largest shareholder, Xiamen Baihui Investment Co., Ltd., held 62,540,594 shares, representing 14.70% of total shares[103]. - The company is controlled by Xiamen Baihui Investment Co., Ltd., which, along with Xiamen Bona Technology Co., Ltd. and Sangri Baihui Investment Co., Ltd., holds 25.15% of the shares[109]. Internal Control and Governance - The company has implemented a strict information disclosure management system to ensure all shareholders receive equal information access[126]. - The internal control system was audited by Guangdong Zhengzhong Zhujiang Accounting Firm, which issued a standard unqualified opinion on the effectiveness of the internal controls as of December 31, 2018[136]. - The company has established a basic internal control system covering major business operations, with no significant deficiencies reported during the internal control execution process[132]. - The board of directors consists of five members, including two independent directors, and operates in accordance with the law and the company's Articles of Association[125]. Future Outlook - The company aims to achieve a revenue target of no less than RMB 600 million in 2019, contingent on various internal and external factors[69]. - The company plans to enhance its market position through mergers and acquisitions, particularly in the curtain wall and window sectors[68]. - The company plans to continue its investment strategy, focusing on expanding its market presence and enhancing product offerings[162].

Financial Performance - Operating revenue for the first nine months reached CNY 113,784,965.64, representing a significant increase of 335.82% year-on-year[8] - Net profit attributable to shareholders of the listed company was CNY 19,281,796.28, a turnaround from a loss of CNY 119,082,655.74 in the same period last year[8] - Basic earnings per share improved to CNY 0.045 from a loss of CNY 0.280 in the previous year[8] - The weighted average return on net assets was 10.08%, a recovery from -60.06% in the previous year[8] - Total operating revenue for Q3 2018 was ¥86,820,364.97, a significant increase from ¥130,899.02 in the previous quarter[32] - Net profit for Q3 2018 reached ¥18,201,276.33, a recovery from a net loss of ¥3,852,097.29 in the previous quarter[34] - The total profit for Q3 2018 was ¥21,143,583.43, contrasting with a loss of ¥3,868,591.07 in the previous quarter[33] - The net profit for Q3 2018 was ¥9,296,058.58, compared to a net loss of ¥3,877,704.76 in the same period last year[36] - The total comprehensive income for Q3 2018 was ¥9,296,058.58, a significant improvement from a total comprehensive loss of ¥124,770,113.98 in the previous year[36] Assets and Liabilities - Total assets at the end of the reporting period were CNY 274,529,004.08, a decrease of 1.65% compared to the end of the previous year[8] - The company's total liabilities decreased from CNY 97,482,565.05 at the beginning of the year to CNY 73,495,742.53, reflecting a reduction of about 24.5%[26] - The total equity attributable to shareholders increased from CNY 181,639,846.62 to CNY 201,033,261.55, marking an increase of approximately 10.7%[26] - The company’s total current assets decreased from CNY 69,139,118.11 to CNY 64,780,651.69, a decline of approximately 6.2%[24] - The company reported a significant increase in accounts receivable, totaling ¥36,012,924.65, up 73,098.40% from ¥49,199.06, attributed to increased project receivables[13] - The company’s fixed assets increased significantly to ¥91,323.58, up 2,550.84% from ¥3,445.08, due to the purchase of office equipment[13] - The company reported a substantial increase in tax liabilities, which rose by 306.65% to ¥7,878,064.47, reflecting the expansion of business operations[13] Cash Flow - The company reported a net cash flow from operating activities of -CNY 69,294,703.52 for the first nine months, compared to -CNY 1,944,753.98 in the same period last year[8] - Cash inflow from operating activities for the first nine months of 2018 was ¥90,839,302.86, while cash outflow was ¥160,134,006.38, resulting in a net cash flow from operating activities of -¥69,294,703.52[40] - The company recorded a significant increase in cash outflow for operating activities, which was ¥31,654,589.39 for the first nine months[40] - The cash and cash equivalents at the end of Q3 2018 were ¥8,273,701.39, down from ¥61,552,318.51 at the beginning of the period[41] - The net cash increase for the period was -¥53,278,617.12, indicating a decline in cash reserves[41] Shareholder Information - The total number of shareholders at the end of the reporting period was 42,861[10] - The top three shareholders held a combined total of 14.70%, 10.23%, and 7.76% of shares respectively[10] Non-Recurring Items - Non-recurring gains and losses amounted to CNY 10,669,854.09 for the year-to-date[9] - The company has reached settlements with 127 individual investors and one corporate investor, paying a total of ¥45,919,600.00 in compensation, which has been accounted for in the financial statements[18]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥26,964,600.67, representing a 3.80% increase compared to ¥25,977,089.95 in the same period last year[19]. - The net profit attributable to shareholders was ¥1,080,519.95, a significant recovery from a loss of ¥115,230,558.45 in the previous year[19]. - Basic earnings per share improved to ¥0.003 from a loss of ¥0.271 in the same period last year[20]. - The weighted average return on net assets increased by 58.15 percentage points to 0.59% from -57.56%[20]. - The company reported a net loss attributable to shareholders of CNY -127.91 million in 2016 and CNY -78.22 million in 2017, marking two consecutive years of losses[50]. - The company reported a net loss of RMB 431,672,432.64, an improvement from a loss of RMB 432,752,952.59 at the beginning of the period[78]. - The total comprehensive income for the current period was -2,544,451.15 RMB, an improvement from -120,892,409.22 RMB in the previous period[88]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 50.44% to ¥2,704,222.28 from ¥5,456,992.14 year-on-year[19]. - Cash and cash equivalents at the end of the period amounted to ¥69,481,175.70, representing 24.32% of total assets, an increase of 12.87% compared to the previous period[36]. - The company's cash and cash equivalents decreased to CNY 582,678.55 from CNY 1,192,373.24, indicating a decline of 51.19%[80]. - The net increase in cash and cash equivalents at the end of the period was 7,920,308.68 RMB, compared to 5,456,992.14 RMB in the previous period, marking an increase of about 45.1%[91]. - The company ended the period with cash and cash equivalents totaling 69,481,175.70 RMB, down from 75,729,183.93 RMB in the previous period, a decrease of about 8.3%[91]. Assets and Liabilities - The total assets at the end of the reporting period were ¥285,746,400.08, up 2.37% from ¥279,122,411.67 at the end of the previous year[19]. - The company's total liabilities were RMB 102,966,633.51, compared to RMB 97,482,565.05 at the beginning of the period, indicating an increase in liabilities[78]. - The total equity attributable to the owners of the parent company was RMB 182,779,766.57, slightly up from RMB 181,639,846.62 at the beginning of the period[78]. - The company's total current assets increased to RMB 75,817,672.76 from RMB 69,139,118.11 at the beginning of the period[76]. - The total owner's equity decreased to CNY 209,018,087.22 from CNY 211,503,138.37, a decline of approximately 1.17%[82]. Operational Challenges - Operating profit was reported at -¥266,617.07, a decrease of 108.41% compared to the previous year, primarily due to increased staffing and related costs[28]. - Operating costs increased by 10.57% to ¥23,429,438.96, driven by the need to hire more engineers[29]. - Management expenses rose by 83.75% to ¥4,943,566.72, attributed to increased personnel costs and legal fees related to investor lawsuits[29]. - The company reported an operating profit of CNY -266,617.07, down from CNY 3,171,881.22 in the previous year, indicating operational challenges[85]. Legal and Compliance Issues - The company has faced multiple lawsuits related to information disclosure violations, with ongoing appeals against initial judgments[54]. - The company has recognized a provision for litigation losses totaling CNY 73.49 million related to 356 cases, which is included in other current liabilities and operating expenses[52]. - The total compensation claimed by plaintiffs in 360 cases amounts to CNY 191.40 million, with the company required to compensate for 355 of these cases[52]. - The company has not disclosed any plans for new product development or market expansion in this report[6]. Strategic Initiatives - The company plans to enhance its operational management capabilities by attracting industry talent and learning from leading enterprises[26]. - The company aims to actively seek acquisitions of peers with advanced qualifications and rich experience to accelerate the growth of its main business[26]. - The board of directors is urging management to integrate resources and actively expand into the construction decoration and building materials trading sectors to improve core business performance[50]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 44,528[68]. - The largest shareholder, Xiamen Baihui Investment Co., Ltd., holds 62,540,594 shares, accounting for 14.70% of the total shares[70]. - The second-largest shareholder, Xiamen Dayang Group Co., Ltd., holds 43,514,518 shares, accounting for 10.23% of the total shares[70]. - The company has no significant changes in its share capital structure during the reporting period[67]. Accounting and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring compliance and transparency in financial reporting[109]. - The financial statements are prepared based on the going concern principle, indicating confidence in the company's future operations[109]. - The company has not made any allocations to surplus reserves or general risk reserves during the current period[99]. - The company has not recognized any tax benefits during the reporting period[163].

Financial Performance - The company reported a net profit attributable to shareholders of -¥78,220,808.80 for 2017, an improvement from -¥127,908,835.91 in 2016, indicating a reduction in losses [5]. - Total revenue for 2017 was ¥24,677,988.06, a decrease of 56.98% compared to ¥57,358,389.13 in 2016 [22]. - The basic earnings per share for 2017 was -¥0.18, compared to -¥0.30 in 2016 [23]. - The weighted average return on equity for 2017 was -35.60%, an improvement from -39.86% in 2016 [23]. - The total profit for the period was negative CNY 78,220,808.80, with a notable increase in operating losses attributed to reduced sales revenue [51]. - The company reported a net loss of approximately 78.22 million RMB for 2017 [72]. - The company reported a net loss attributable to shareholders of ¥12,790.88 million in 2016 and ¥7,822.08 million in 2017, indicating consecutive annual losses [178]. Revenue and Sales Performance - In Q1, the company reported revenue of ¥24,452,375.85, while in Q2, it dropped to ¥1,524,714.10, and further decreased to ¥130,899.02 in Q3, ending the year with a negative revenue of ¥-1,430,000.91 in Q4, indicating a significant decline in sales performance throughout the year [25]. - The company experienced a 56.98% year-over-year decrease in total revenue, dropping from ¥57,358,389.13 to ¥24,677,988.06, primarily due to reduced sales volume in the building materials trade [35]. - Sales revenue from the building and decoration segment was CNY 11,688,104.69, down 65.62% year-on-year, while the smart home and appliance sales generated CNY 12,989,883.37, down 44.41% year-on-year [40]. - The company reported a total revenue from sales of goods and services of 24,684,238.32 RMB, significantly lower than 62,344,000.00 RMB in the previous year, indicating a decline in sales performance [155]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥12,279,178.24, a significant decline from a positive cash flow of ¥5,533,827.67 in 2016, representing a 321.89% decrease [22]. - The net cash flow from operating activities was positive at ¥20,635,470.92 in Q1, but turned negative in the following quarters, with Q2 at ¥-15,178,478.78, Q3 at ¥-7,401,746.12, and Q4 at ¥-10,334,424.26, reflecting operational challenges [25]. - The cash and cash equivalents decreased from CNY 70,272,191.79 to CNY 61,560,867.02, a drop of about 12.18% [142]. - The cash outflow for other operating activities was 8,857,160.03 RMB, up from 2,709,832.18 RMB in the previous year, indicating increased operational expenses [155]. - The ending balance of cash and cash equivalents was 1,192,373.24 RMB, a significant decrease from the beginning balance of 48,197,427.81 RMB [159]. Assets and Liabilities - The company's net assets attributable to shareholders decreased by 29.55% to ¥181,639,846.62 at the end of 2017 from ¥257,823,853.44 at the end of 2016 [22]. - Total assets decreased by 7.34% to ¥279,122,411.67 at the end of 2017 from ¥301,241,863.26 at the end of 2016 [22]. - The company's total liabilities reached CNY 97,482,565.05, a 124.52% increase compared to CNY 43,418,009.82 from the previous period [55]. - The total current liabilities increased significantly by 124.52% to CNY 97,482,565.05, driven by a rise in other current liabilities [55]. - The company's retained earnings showed a negative balance of CNY -432,752,952.59, worsening from CNY -354,532,143.79 [144]. Management and Operational Challenges - The company has highlighted various risk factors that may impact future development, as detailed in the report [8]. - The company is facing operational risks due to its reliance on a single client and a relatively small scale of operations [68]. - The company’s management expenses surged by 175.30% year-over-year, increasing from ¥4,040,349.13 to ¥11,123,222.01, indicating rising operational costs [37]. - The company is committed to improving its management capabilities by accumulating experience and attracting industry talent [68]. - The company has not proposed any cash dividend distribution plan for the reporting period despite having positive distributable profits [73]. Legal and Compliance Issues - The company is facing a total of 359 pending lawsuits related to investment losses, with a total compensation claim of 191.33 million RMB [80]. - Of the 359 pending lawsuits, 273 have resulted in a first-instance judgment against the company, requiring it to compensate 40% of the claimed investment loss along with related fees [79]. - The company has appealed the first-instance judgments, and the results of the appeals are still pending [79]. - The company has engaged Guangdong Zhengzhong Zhujiang Accounting Firm for 17 years, with an audit fee of 830,000 RMB for the 2017 fiscal year [77]. Strategic Initiatives and Future Plans - The company plans to diversify its main business through external investments and mergers to enhance profitability and risk resistance [66]. - The company plans to achieve an operating revenue of approximately 200-300 million RMB in 2018 [67]. - The company aims to improve its asset-liability structure by selling part of its equity in affiliated companies [179]. - The management believes that after implementing the aforementioned measures, the company will have the ability to continue as a going concern within the next 12 months [179]. Shareholder and Governance Information - The company has a controlling stake of 23.21% held by Xiamen Baihui Investment Co., Ltd., Xiamen Bona Technology Co., Ltd., and Sangri Baihui Investment Co., Ltd. [106]. - The actual controller, Chen Guanquan, controls 100% of the shares of Xiamen Bona Technology Co., Ltd., Xiamen Baihui Investment Co., Ltd., and Sangri Baihui Investment Co., Ltd. [106]. - The company has no significant issues regarding the integrity of its controlling shareholders and actual controllers during the reporting period [81]. - The board of directors consists of five members, including two independent directors, complying with legal requirements [122].

2018 年第一季度报告 公司代码：600193 公司简称：创兴资源 上海创兴资源开发股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 2018 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 未出席董事情况 | | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | --- | | 阙江阳 | | 董事 | 因工出差 | 郑再杰 | 1.3 公司负责人翟金水、主管会计工作负责人郑再杰 及会计机构负责人（会计主管人员）郑再 杰保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | 本报告期末比上年 | | | --- | ...