Financial Performance - In 2015, the company's net profit was CNY 27,033,915.90, a decrease of 49.35% compared to CNY 9,238,280.60 in 2014[3]. - The total revenue for 2015 was CNY 372,888,466.21, down 62.38% from CNY 991,238,489.95 in 2014[16]. - The basic earnings per share for 2015 was CNY 0.01, a 50% decrease from CNY 0.02 in 2014[17]. - The company reported a non-recurring loss of ¥1,684,634.64 in 2015, compared to a loss of ¥1,207,421.36 in 2014, indicating a significant increase in non-operating losses[22]. - The company’s net profit for the year was CNY 4.68 million, reflecting the challenges faced in the real estate market and inventory reduction efforts[40]. - The company reported a significant decrease in operating costs, which fell by 66.91% to CNY 270.74 million from CNY 818.25 million in the previous year[48]. - The company’s cash flow from operating activities showed a net outflow of CNY 58,882,596.44, compared to a net inflow of CNY 452,845,546.55 in 2014[16]. - The company reported a significant reduction in sales expenses, amounting to CNY 2,696,766.94, a decrease of 74.58% year-on-year due to adjustments in marketing strategies[53]. Revenue and Sales - In 2015, the company achieved total operating revenue of CNY 372.89 million, a decrease of 62.38% compared to the previous year’s revenue of CNY 991.24 million[40]. - The company completed real estate development project revenue of CNY 160.51 million, achieving 100.21% of the annual plan[40]. - The infrastructure engineering contracting projects generated revenue of CNY 166.53 million, completing 76.60% of the annual plan[40]. - The company sold 14,769.26 square meters of residential properties, generating sales revenue of CNY 99.57 million from the Liuhe Yifang project[41]. - The total sales revenue from commodity housing was CNY 160,510,373.30, with a gross profit margin of 26%, which decreased by 38% year-on-year[50]. Assets and Liabilities - The total assets at the end of 2015 were CNY 4,046,252,431.46, a slight decrease of 0.07% from CNY 4,049,035,498.15 in 2014[16]. - The company's total liabilities decreased marginally to CNY 1,627,554,220.64 from CNY 1,632,222,623.88, indicating a reduction of about 0.45%[128]. - The company's equity attributable to shareholders rose to CNY 2,418,521,463.84 from CNY 2,416,647,459.84, showing a slight increase of approximately 0.08%[128]. - The company's cash and cash equivalents at the end of the period amounted to CNY 330,786,401.11, representing an increase of 184.22% compared to the previous year[57]. - The total amount of guarantees provided by the company to subsidiaries during the reporting period was CNY 25 million[82]. Dividends and Profit Distribution - The company proposed a cash dividend of CNY 0.03 per share, totaling CNY 1,395,098.64, which represents 30% of the net profit attributable to shareholders[3]. - The company plans to distribute at least 30% of its average distributable profit over the past three years as cash dividends, ensuring sustainable operations[73]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits, which requires detailed disclosure of reasons and future plans[78]. - The company’s independent directors have supported the modification of the profit distribution policy, emphasizing the balance between shareholder returns and sustainable development[75]. Market and Business Strategy - The real estate development business is currently focused on projects such as the Liuhe Yifang residential development and the Xinglongshan shantytown renovation project, which are influenced by the market environment in Changchun[25]. - The company is actively expanding its market presence by increasing its bidding efforts for projects outside its primary area[27]. - The company plans to focus on the development of affordable housing projects to seek new profit growth points[61]. - The company aims to enhance its asset scale and efficiency through investment and acquisition strategies[66]. - The company is facing risks related to market competition and potential declines in revenue from infrastructure contracting due to increased competition[68]. Governance and Management - The company has appointed new board members and executives, reflecting a strategic shift in management[100]. - The board of directors has established four specialized committees: Strategy Committee, Nomination Committee, Audit Committee, and Compensation and Assessment Committee, to oversee various aspects of corporate governance[110]. - The company has not engaged in any major litigation or arbitration matters during the reporting period, maintaining a good integrity status[80]. - The company adheres to legal regulations and has established a governance structure that effectively protects the interests of investors[109]. Accounting and Financial Reporting - The financial statements were prepared based on the going concern assumption, adhering to the relevant accounting standards[147]. - The company’s financial reports comply with the requirements of the Chinese Securities Regulatory Commission[150]. - The main currency for accounting is the Renminbi, reflecting the economic environment in which the company operates[153]. - The company recognizes its share of assets, liabilities, and income from joint operations based on its ownership interest[164]. Employee and Workforce Management - The total number of employees is 5,009, indicating a stable workforce[99]. - The company has established a competitive salary system that combines base salary, performance pay, and bonuses, linking management compensation to the completion of annual operational targets[106]. - The company provides statutory benefits including "five insurances and one fund" and paid leave for its employees[106]. - The company has a training plan for middle management and regular employees, focusing on internal training and external expert training to meet development needs[107].

长春经开（集团）股份有限公司 2015 年第三季度报告 公司代码：600215 公司简称：长春经开 长春经开（集团）股份有限公司 2015 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 长春经开（集团）股份有限公司 2015 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、高级管理人员应当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 公司负责人陈平、主管会计工作负责人黄大光及会计机构负责人（会计主管人员）刘晨辉保 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、 公司主要财务数据和股东变化 2.1 主要财务数据 3 / 21 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 4,068,7 ...

Financial Performance - The company's operating revenue for the first half of 2015 was ¥91,666,972.98, a decrease of 9.87% compared to ¥101,702,386.04 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was -¥29,920,189.34, an improvement from -¥48,470,784.53 in the previous year[16]. - The net cash flow from operating activities was -¥68,107,422.58, compared to ¥414,647,384.13 in the same period last year[16]. - The total assets at the end of the reporting period were ¥3,929,633,711.94, down 2.95% from ¥4,049,035,498.15 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company decreased by 1.35% to ¥2,384,036,038.30 from ¥2,416,647,459.84 at the end of the previous year[16]. - The basic earnings per share for the first half of 2015 was -¥0.0643, an improvement from -¥0.1042 in the same period last year[17]. - The weighted average return on net assets was -1.2458%, an improvement from -2.0318% in the previous year[17]. - The company reported a total profit of -¥29,573,440.21, an improvement from -¥48,533,073.34 in the previous period[75]. - The company’s financial expenses decreased significantly to ¥20,634,098.71 from ¥42,338,674.22, indicating better cost management[74]. - The company reported a decrease in undistributed profits by 2,691,232.20 RMB during the reporting period[82]. Revenue Sources - The company's real estate sales revenue reached CNY 68.89 million, accounting for 75% of total operating revenue[25]. - The total operating revenue for the period was CNY 91.67 million, a decrease of 9.87% compared to the previous year[32]. - The net profit attributable to the parent company was a loss of CNY 29.92 million, which is a reduction in loss of CNY 18.55 million year-on-year[25]. - The construction income for the period was CNY 495.39 million, while installation income was CNY 3.29 million[30]. - The company achieved total operating revenue of CNY 9,166.70 million in the first half of 2015, accounting for 21.75% of the annual target of CNY 42,142 million[35]. Investment and Development - The company plans to develop the "Liuhe Yifang" project over 5-6 years with a total investment of CNY 2.65 billion[26]. - The company has 72 ongoing infrastructure projects, with a reported income of CNY 3.78 million from infrastructure construction[29]. - The company maintains a three-pronged real estate development strategy focusing on shantytown renovation, quality residential development, and industrial standard factory construction[41]. - The company plans to enhance its regional comprehensive development advantages by expanding into new business areas and improving subsidiary qualifications[41]. Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of CNY 68.11 million, a decrease of 116.43% compared to the previous year[32]. - Cash and cash equivalents at the end of the period were ¥38,150,231.67, down from ¥86,992,033.40 at the end of the previous period[79]. - The total cash and cash equivalents at the end of the period amounted to CNY 43,388,630.94, a decrease from CNY 116,384,125.55 at the beginning of the period, representing a decline of approximately 62.7%[184]. - The company received 501,012,558.94 RMB in cash related to operating activities, a decrease from 941,078,225.86 RMB in the previous year[81]. Shareholder Information - The largest shareholder, Changchun Economic and Technological Development Zone Venture Capital Holding Co., Ltd., holds 101,736,960 shares, accounting for 21.88% of the total shares, with 50,862,500 shares pledged[59]. - The second largest shareholder, Changchun Economic Development State-owned Assets Holding Group Co., Ltd., has 23,254,008 shares, representing 5.00% of the total shares, with 19,617,004 shares pledged[59]. - The total number of shares held by the top ten shareholders includes significant pledges, indicating potential liquidity risks[59]. Guarantees and Liabilities - The company has a total guarantee amount of RMB 12,980 million, which accounts for 5.44% of its net assets[52]. - The company provided a joint liability guarantee of RMB 7,980 million for Changchun Southeast Development Construction Co., Ltd. for a loan from the Industrial and Commercial Bank of China[52]. - The total amount of guarantees provided does not exceed 50% of the company's net assets[52]. Accounting Policies and Financial Reporting - The company’s financial reports comply with the requirements of the Chinese Securities Regulatory Commission, ensuring transparency and completeness in financial disclosures[94]. - The company’s main business includes real estate development and public facility investment, with specific accounting policies established for revenue recognition[93]. - The company’s financial statements are prepared based on the assumption of going concern, adhering to the relevant accounting standards[92]. Bad Debt and Receivables - The accounts receivable at the end of the period totaled CNY 364,831,221.44, with a bad debt provision of CNY 47,706,144.99, indicating a provision ratio of approximately 13.1%[188]. - The company reported a bad debt provision of CNY 4,727,463.50 for the current period, with no recoveries or reversals recorded[190]. - The provision for bad debts at the end of the period amounts to CNY 44,115,293.44, which is 32.2% of the total balance of other receivables[198]. Market Conditions and Future Outlook - The company anticipates a potential cumulative net profit loss by the end of the next reporting period due to ongoing market pressures in the Changchun real estate sector, despite a slight month-on-month price increase in July[48]. - The company has not disclosed any new product developments or market expansion strategies in the report[2]. - There were no significant changes in the company's basic situation during the reporting period[10].

Financial Performance - Operating revenue for the period was CNY 28,560,496.00, a decline of 4.79% year-on-year[6] - The net profit attributable to shareholders of the listed company was negative CNY 15,064,906.86, improving from negative CNY 27,113,556.80 in the previous year[6] - Basic and diluted earnings per share were both negative CNY 0.0324, an improvement from negative CNY 0.0583 in the same period last year[6] - The net loss for Q1 2015 was CNY 15,068,114.70, an improvement from a net loss of CNY 27,115,690.57 in the previous year[24] - The company's operating revenue for the current period is ¥5,028,377.75, an increase of 13.7% compared to ¥4,423,272.40 in the previous period[27] - The net profit for the current period is a loss of ¥7,525,940.88, improving from a loss of ¥24,186,031.60 in the previous period[27] - The total profit for the current period is a loss of ¥7,591,567.61, an improvement from a loss of ¥23,424,809.57 in the previous period[27] Cash Flow and Liquidity - Net cash flow from operating activities was negative CNY 82,726,120.37, a decrease of 169.75% compared to the same period last year[6] - Cash and cash equivalents decreased by 48.79% to CNY 59,594,942.67 compared to the beginning of the period[12] - Cash and cash equivalents at the end of the period decreased to ¥54,361,450.09 from ¥129,168,766.59 in the previous period[30] - The cash outflow from operating activities totaled ¥130,773,976.47, compared to ¥314,066,747.42 in the previous period, showing a reduction in cash outflows[30] Assets and Liabilities - Total assets decreased by 1.62% to CNY 3,983,364,731.58 compared to the end of the previous year[6] - Total assets decreased to CNY 3,983,364,731.58 from CNY 4,049,035,498.15, a decline of about 1.6%[18] - Total liabilities decreased to CNY 1,581,619,972.01 from CNY 1,632,222,623.88, a reduction of approximately 3.1%[19] - Total equity attributable to shareholders decreased to CNY 2,401,582,552.98 from CNY 2,416,647,459.84, a decline of about 0.6%[19] Shareholder Information - The number of shareholders totaled 33,410 at the end of the reporting period[10] - The largest shareholder held 21.88% of the shares, with a total of 101,736,960 shares[10] Cost Management - The company incurred a 91.35% reduction in income tax expenses, amounting to CNY 71,161.62[12] - Total operating costs decreased significantly to CNY 44,234,525.16 from CNY 57,608,200.39, reflecting a reduction of approximately 23%[24] - The company incurred financial expenses of ¥6,408,215.78, down from ¥21,034,606.67 in the previous period, indicating a reduction in financial costs[27] - The company’s management expenses decreased to ¥4,716,492.19 from ¥5,847,837.88 in the previous period, reflecting cost control efforts[27] Borrowings and Financing - The company received CNY 114,000,000.00 from borrowings, a 75.38% increase compared to the previous year[13] - The company received cash from financing activities amounting to ¥114,000,000.00, an increase from ¥65,000,000.00 in the previous period[30] - Short-term borrowings increased to CNY 379,000,000.00 from CNY 330,000,000.00, an increase of approximately 14.8%[19] Accounts Receivable - Accounts receivable decreased slightly to CNY 320,897,245.28 from CNY 340,433,626.58, a reduction of about 5.7%[18]

Financial Performance - In 2014, the company achieved operating revenue of CNY 991,238,489.95, representing a 49.39% increase compared to CNY 663,523,668.93 in 2013[21] - The net profit attributable to shareholders was CNY 9,238,280.60, a 13.65% increase from CNY 8,128,646.88 in the previous year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 10,445,701.96, recovering from a loss of CNY 43,460,176.12 in 2013[21] - The net cash flow from operating activities was CNY 452,845,546.55, a significant improvement from a negative cash flow of CNY -103,657,457.16 in 2013[21] - Basic earnings per share rose to CNY 0.02, up 14.29% from CNY 0.0175 in 2013[23] - The weighted average return on net assets increased to 0.38%, up from 0.34% in 2013[23] - The company reported a net profit of 9.24 million RMB, an increase of 1.11 million RMB or 13.65% year-on-year[30] - Operating costs rose to CNY 818,246,741.11, reflecting a 56.04% increase year-on-year[34] Revenue Sources - The real estate business revenue increased by 458.43 million RMB, a growth of 176% compared to the previous year, primarily due to the successful government repurchase of the Xingshan Old Town redevelopment project, generating sales revenue of 485 million RMB[30] - The company’s infrastructure engineering contracting business generated revenue of 229.01 million RMB, a 60% increase from the previous year[30] - The company’s property service and leasing business generated revenue of CNY 4,389,000, marking a 27% increase year-on-year[33] - The company achieved operating revenue of CNY 991,238,489.95, an increase of 49.39% compared to the previous year, primarily driven by sales from the Xionglongshan old town redevelopment project, which generated CNY 485 million[34] Strategic Developments - The company plans to develop the "Liuhe Yifang" project in four phases over 5-6 years, with a total investment of 2.65 billion RMB and a planned construction area of 602,626.07 square meters[30] - The company adjusted its strategy in response to market conditions, focusing on internal management and project development pace[29] - The company plans to focus on existing land development and participate in government projects related to affordable housing and urban renewal[59] - The company aims to control capital investment in real estate while exploring low-cost and diversified financing channels, focusing on government-backed projects for quicker capital recovery[63] Market Conditions - The overall real estate market in 2014 saw a decline in sales area by 7.6% and sales amount by 6.3% year-on-year, indicating a challenging market environment[27] - The company faced significant challenges in the real estate market, including funding pressures and a decline in personal mortgage loans[27] - The real estate market remains stable but faces significant downward pressure, with increased competition potentially impacting sales prices and inventory levels[62] Financial Management - The company returned CNY 159 million in investment funds related to the termination of a land development project, with expected investment income compensation of CNY 63.6 million[32] - Financial expenses increased by 2.06% to CNY 83,302,909.99, primarily due to increased interest expenses from loans[41] - The company’s investment activities generated a net cash inflow of CNY 227,942,469.13, a 131.20% increase from the previous year[34] - The company’s cash outflow for debt repayment was ¥1,825,000,000.00, a significant increase of 138.56% compared to the previous year[43] Shareholder Information - The company proposed a cash dividend of CNY 0.0596 per 10 shares, totaling CNY 2,771,595.96, which accounts for 30% of the net profit attributable to shareholders[2] - The company has no guarantees provided for shareholders, actual controllers, or their related parties[75] - The total amount of guarantees provided by the company, including those to subsidiaries, is CNY 129.8 million, which accounts for 5.37% of the company's net assets[75] Governance and Management - The company has established a competitive salary system that combines base salary, performance pay, and bonuses, linking management compensation to annual operational targets[104] - The governance structure includes a board of directors, supervisory board, and management team, ensuring effective decision-making and oversight[108] - The board of directors is responsible for executing the resolutions of the shareholders' meeting and managing the company's daily operations[108] - The company has maintained a stable management team with no new appointments or departures during the reporting period[94] Accounting and Reporting - The company has implemented new accounting standards effective July 1, 2014, which may affect financial reporting and asset valuation[65] - The company adheres to the Chinese Accounting Standards, ensuring the financial reports reflect a true and complete picture of its financial status as of December 31, 2014[157] - The company’s long-term equity investment accounting policy has been adjusted, resulting in an increase of CNY 2 million in available-for-sale financial assets[80] Employee Information - The total number of employees in the parent company is 244, and in major subsidiaries, it is 133, making a total of 377 employees[103] - The company has 195 technical personnel, 27 financial personnel, and 151 administrative personnel, reflecting a strong technical workforce[103] - The company emphasizes training with annual plans for middle management and regular employees, utilizing both internal and external training resources[105]

Financial Performance - Net profit attributable to shareholders was a loss of CNY 69,918,543.11, compared to a loss of CNY 52,879,335.13 in the same period last year[7] - Operating revenue for the first nine months was CNY 244,145,951.31, down 6.01% from CNY 259,748,392.79 year-on-year[7] - Basic and diluted earnings per share were both -CNY 0.1504, compared to -CNY 0.1137 in the same period last year[8] - Total operating revenue for the period reached ¥142,443,565.27, compared to ¥8,381,405.86 in the same period last year[23] - The net loss attributable to shareholders was ¥21,447,758.58, compared to a loss of ¥33,179,062.20 in the same period last year, indicating a reduction in losses[23] - Total profit loss for the period was ¥21,585,161.21, compared to a loss of ¥33,017,199.46 in the previous year, showing a narrowing of losses[25] Cash Flow - Net cash flow from operating activities increased significantly to CNY 484,791,730.14, compared to a negative cash flow of CNY 193,389,141.31 in the same period last year, representing a 350.68% improvement[7] - Cash received from operating activities increased by 49.06% to ¥650,983,431.72 from ¥436,718,642.32, reflecting higher inter-company transactions[13] - Cash flow from operating activities generated a net cash inflow of ¥484,791,730.14, a significant recovery from a net outflow of -¥193,389,141.31 in the same period last year[28] - Total cash inflow from operating activities was CNY 1,239,937,468.31, compared to CNY 547,476,850.09 last year, marking an increase of approximately 126%[31] - The company reported a total cash inflow from operating activities of ¥1,022,605,587.38, compared to ¥804,257,738.12 in the previous year, indicating growth in operational cash generation[28] Assets and Liabilities - Total assets decreased by 7.15% to CNY 4,392,337,176.95 compared to the end of the previous year[7] - Current liabilities totaled CNY 1,771,335,635.14, a decrease of 15.1% from CNY 2,086,916,898.38 at the beginning of the year[18] - The company's total liabilities decreased to CNY 1,153,307,877.88, a reduction of 26.7% compared to CNY 1,575,331,611.49 at the beginning of the year[21] - The total equity attributable to shareholders was CNY 2,414,124,542.23, down 2.7% from CNY 2,482,169,578.50 at the start of the year[21] - Cash and cash equivalents decreased significantly to CNY 19,296,052.17 from CNY 152,983,519.98, a decline of 87.4%[20] Shareholder Information - The total number of shareholders was 40,283, with the largest shareholder holding 21.88% of the shares[9] - The largest shareholder, Changchun Economic and Technological Development Zone Venture Capital Holding Co., Ltd., increased its holdings by 101,736,960 shares[9] Investment and Other Income - The company reported a non-operating income of CNY 20,115.10 for the current period, but a total loss of CNY 1,204,741.18 for the year[9] - Investment income surged by 222.72% to ¥2,519,277.93 from ¥780,633.57, resulting from the disposal of equity in Changchun Optics Technology Development Co., Ltd.[12] - Investment income for the period was ¥760,383.09, up from ¥260,211.19 year-on-year, reflecting improved investment performance[25] Operational Costs - Total operating costs amounted to ¥164,816,164.35, with operating costs specifically at ¥115,360,920.97, an increase from ¥3,785,274.77 year-on-year[23] - Management expenses increased to ¥17,144,819.48 from ¥12,631,817.80 year-on-year, indicating higher operational costs[23] - Financial expenses decreased slightly to ¥22,690,720.49 from ¥23,361,925.56, suggesting better cost management[23] Cash Management - Cash and cash equivalents decreased by 78.87% to ¥79,734,671.94 from ¥377,399,048.17, primarily due to repayment of loans[12] - The ending cash and cash equivalents balance was CNY 19,296,052.17, significantly lower than CNY 203,644,619.40 at the end of the same period last year, indicating liquidity challenges[32] - Cash outflow for debt repayment was CNY 1,415,000,000.00, up from CNY 565,000,000.00 in the previous year, reflecting a higher focus on debt servicing[32]

Financial Performance - The company reported a revenue of CNY 101.70 million for the first half of 2014, a decrease of 59.54% compared to CNY 251.37 million in the same period last year [18]. - The net profit attributable to shareholders was a loss of CNY 48.47 million, which is an increase in loss of CNY 2.88 million compared to the previous year [18]. - The company's total operating revenue for the current period was CNY 101.70 million, a decrease of 59.54% compared to CNY 251.37 million in the same period last year [26]. - The operating costs for the current period were CNY 78.09 million, down 55.62% from CNY 175.94 million year-on-year [26]. - The company achieved sales revenue of CNY 74.01 million from the sale of commercial housing, with a corresponding cost of CNY 61.86 million, resulting in a sales profit of CNY 800.19 million [27]. - The company anticipates a potential loss in cumulative net profit by the end of the next reporting period due to high costs and expenses, despite a positive outlook for real estate sales in the second half of the year [36]. - The company reported a significant increase in other receivables, which decreased from CNY 1,229,888,972.65 to CNY 963,604,878.70, a reduction of approximately 21.7% [58]. - The company reported a total profit of -¥48,533,073.34 for the current period, compared to -¥20,715,275.75 in the previous period [61]. Assets and Liabilities - The company's total assets decreased by 6.87% to CNY 4.41 billion from CNY 4.73 billion at the end of the previous year [18]. - The company's total current assets decreased from 3,137,643,510.09 RMB at the beginning of the year to 2,820,212,654.93 RMB at the end of the reporting period, a decrease of approximately 10.1% [55]. - The total non-current assets decreased from 1,592,934,889.96 RMB at the beginning of the year to 1,585,377,763.20 RMB at the end of the reporting period, a decrease of approximately 0.9% [55]. - Total liabilities decreased from CNY 2,320,552,888.43 to CNY 2,046,482,435.66, a reduction of approximately 11.8% [56]. - Current liabilities decreased from CNY 2,086,916,898.38 to CNY 1,812,998,985.64, a decrease of about 13.1% [56]. - The total equity at the end of the period was ¥2,359,107,982.47, down from ¥2,410,025,511.62 at the beginning of the year [72]. Cash Flow - The company’s net cash flow from operating activities was CNY 414.65 million, a significant improvement from a negative cash flow of CNY 146.03 million in the previous year [18]. - Cash flow from operating activities for the current period is ¥414,647,384.13, a significant improvement from -¥146,032,994.62 in the previous period [65]. - The ending cash and cash equivalents balance is ¥86,992,033.40, down from ¥259,892,944.29 in the previous period [66]. - The company’s cash flow from financing activities was heavily impacted by debt repayment, which totaled ¥1,055,000,000.00, compared to ¥515,000,000.00 in the previous year [68]. Real Estate Projects - The company's real estate sales revenue reached CNY 74.01 million, accounting for 72.77% of total revenue, despite the challenging market conditions [20]. - The "Liuhe Yifang" real estate project has a total planned investment of CNY 2.65 billion and is expected to be developed in four phases over 5-6 years [21]. - The company has completed the main structure of the A and B zones of the "Liuhe Yifang" project and is currently selling the pre-sold units [21]. - The company has ongoing real estate development projects, with the total investment for the "Liuhe Yifang" project estimated at CNY 437,371.40 million, expected to be completed by December 2017 [173]. Shareholder Information - The total number of shareholders at the end of the reporting period was 38,874 [46]. - The largest shareholder, Changchun Economic and Technological Development Zone Venture Capital Holding Co., Ltd., holds 21.88% of shares, totaling 101,736,960 shares [46]. - The second largest shareholder, Changchun Economic Development State-owned Assets Management Group Co., Ltd., holds 8.44% of shares, totaling 39,234,008 shares [46]. Recognition and Awards - The company was recognized as one of the "Top 500 Real Estate Development Enterprises in China" by industry associations [21]. - The company has been recognized in the top 500 real estate development enterprises in China, indicating a strong competitive position in the market [30]. Financial Management and Compliance - The company’s financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring compliance and transparency [80]. - The company recognizes deferred tax assets and liabilities based on temporary differences between the carrying amount of assets and liabilities and their tax bases, following the balance sheet liability method [137]. Other Financial Information - The company has provided a total of CNY 45,730,000 in external guarantees, which accounts for 19.39% of its net assets [40]. - The company has no major litigation, arbitration, or media disputes during the reporting period [38]. - The company has not conducted any capital reserve transfers to increase share capital for the year [35].

Financial Performance - Operating revenue for the current period reached approximately CNY 30 million, representing a significant increase of 312.57% year-on-year[8]. - Net profit attributable to shareholders of the listed company was approximately -CNY 27.11 million, showing an improvement compared to -CNY 32.58 million in the same period last year[8]. - The weighted average return on net assets was -1.13%, an improvement from -1.36% in the same period last year[8]. - Basic and diluted earnings per share were both -CNY 0.0583, compared to -CNY 0.070 in the previous year[8]. - The company reported a significant increase in tax expenses by 177.08%, amounting to CNY 2,186,017.50, compared to CNY 788,960.55 in the previous period[12]. - The net loss for Q1 2014 was CNY 27,115,690.57, compared to a net loss of CNY 32,582,453.43 in Q1 2013, showing an improvement of approximately 16.5%[24]. - The company's total revenue for the period reached CNY 29,997,691.52, representing a 312.57% increase compared to the previous period's CNY 7,270,897.05[12]. Cash Flow - The net cash flow from operating activities was approximately CNY 118.60 million, a turnaround from -CNY 85.91 million in the previous year[8]. - Cash flow from operating activities generated a net inflow of CNY 118,601,714.72, a turnaround from a net outflow of CNY 85,912,884.64 in the previous year[28]. - Total cash inflow from operating activities was $726.21 million, compared to $62.21 million in the prior period, indicating a substantial increase[30]. - Cash outflow for operating activities totaled $473.40 million, up from $67.20 million in the previous period[30]. - Cash received from operating activities related to sales was $5.04 million, a decrease from $5.96 million in the prior period[30]. - Cash received from other operating activities significantly increased to $721.16 million from $56.26 million previously[30]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 4.47 billion, a decrease of 5.58% compared to the end of the previous year[8]. - The company’s liabilities decreased by 10.19%, from CNY 2,320,552,888.43 to CNY 2,083,885,165.62[19]. - The total assets as of March 31, 2014, were CNY 3,787,724,547.42, down from CNY 4,057,501,189.99 at the beginning of the year, reflecting a decrease of about 6.6%[21]. - Total liabilities decreased to CNY 1,329,741,000.52 from CNY 1,575,331,611.49, a reduction of approximately 15.6%[22]. - The company’s total equity decreased to CNY 2,457,983,546.90 from CNY 2,482,169,578.50, a decline of approximately 1.0%[22]. Shareholder Information - The total number of shareholders at the end of the reporting period was 39,150[10]. - The largest shareholder, Changchun Economic and Technological Development Zone Venture Investment Holding Co., Ltd., held 21.88% of the shares, totaling 101,736,960 shares[10]. - The second-largest shareholder, Changchun Jingkai State-owned Assets Holding Group Co., Ltd., held 8.44% of the shares, totaling 39,234,008 shares[10]. Investment Plans - The company plans to invest CNY 56,800,000 in real estate development in 2014, with specific projects including "Liuhe Yifang" and "Xinglongshan" slated for completion[13]. - The "Liuhe Yifang" project is expected to be developed over 5-6 years, with a planned total investment of CNY 31,400,000 for phase two[14]. - The company plans to complete the Xinglongshan project by the end of 2014, with a total investment of CNY 20,100,000[13]. Operating Costs - Operating costs increased significantly by 599.52%, amounting to CNY 21,629,163.04, up from CNY 3,091,986.46 in the prior period[12]. - Total operating costs for Q1 2014 were CNY 57,608,200.39, up from CNY 39,989,632.96, indicating an increase of about 44.2%[24].

Financial Performance - The company's net profit for 2013 was CNY 29,847,074.05, with a statutory surplus reserve of CNY 2,984,707.41, and a cash dividend distribution of CNY 4,650,328.80 for the previous year[4] - The proposed cash dividend for 2013 is CNY 0.0524 per share, totaling CNY 2,438,594.06, which accounts for 30% of the net profit attributable to shareholders[5] - The company's operating revenue for 2013 was CNY 663,523,668.93, representing a 119.73% increase compared to CNY 301,971,223.26 in 2012[24] - The net profit attributable to shareholders decreased by 18.66% to CNY 8,128,646.88 from CNY 9,993,743.12 in 2012[24] - The basic earnings per share for 2013 was CNY 0.0175, down 18.60% from CNY 0.0215 in 2012[22] - The company reported a significant increase in non-operating income, with government subsidies amounting to CNY 51,000,000.00 in 2013, compared to CNY 1,200,000.00 in 2012[25] - The company reported a significant decrease in investment income, which fell by 78.02% to 25,005,877.96 yuan[41] - The total comprehensive income for the year was CNY 8,135,886.89, down from CNY 9,963,576.26, reflecting a decrease of approximately 18.4%[123] Assets and Liabilities - The total assets of the company increased by 6.19% to CNY 4,730,578,400.05 at the end of 2013, compared to CNY 4,455,002,800.52 at the end of 2012[24] - As of December 31, 2013, total assets amounted to CNY 4.73 billion, an increase of CNY 275.58 million from the previous year[30] - The company's total liabilities rose to CNY 2,320,552,888.43 from CNY 2,048,462,846.99, an increase of approximately 13.23%[118] - Current liabilities increased to ¥2,086,916,898.38 from ¥1,194,266,671.72, showing a significant rise of about 74.78%[118] - Short-term borrowings increased to ¥570,000,000.00 from ¥335,000,000.00, reflecting a growth of approximately 70.15%[118] - Total equity increased slightly to ¥2,410,025,511.62 from ¥2,406,539,953.53, indicating a marginal growth of approximately 0.15%[118] Cash Flow - The net cash flow from operating activities for 2013 was CNY -103,657,457.16, showing a significant improvement from CNY -576,962,460.58 in 2012[24] - The company reported a net cash flow from operating activities of -216,029,134.41 RMB, compared to -214,032,354.16 RMB in the previous year, indicating a slight increase in cash outflow[129] - Total cash inflow from investment activities was 131,876,958.44 RMB, down from 554,815,367.51 RMB in the previous year, reflecting a significant decrease of approximately 76.2%[130] - Cash inflow from financing activities totaled 756,000,000.00 RMB, compared to 1,080,000,000.00 RMB in the previous year, representing a decrease of about 30%[130] Revenue Sources - The real estate business generated revenue of CNY 259.91 million, accounting for 39% of total operating revenue, marking a significant growth in the company's main business[30] - The company received land development settlement payments totaling CNY 181.83 million during the reporting period, contributing to its revenue[32] - The revenue from entrusted land development was 225,978,635.36 yuan, with a gross margin of 28.93%[39] - The company achieved sales revenue of 187,190,055.10 RMB from goods and services, a significant increase from 21,836,014.33 RMB in the previous year, marking an increase of approximately 759%[129] Future Plans and Strategies - In 2014, the company plans to achieve total operating revenue of CNY 759.39 million, a 15% increase from the previous year[55] - The company aims for a net profit growth while maintaining steady revenue growth in the real estate sector[51] - The company will invest CNY 568 million in real estate construction in 2014, with specific projects including the completion of the Liuhe project phase one and the Xinglongshan project[56] - The company plans to enhance project management capabilities and improve profit margins amid increasing market competition[52] Governance and Management - The company has established a governance structure that includes a board of directors, supervisory board, and management team to ensure effective oversight[97] - The board of directors held 14 meetings during the year, with 10 conducted in person and 4 via communication methods[101] - The company has a diverse board with members having extensive experience in various sectors, enhancing its governance[86] - The company has implemented a clear performance evaluation and incentive mechanism for senior management, with annual assessments based on strategic goals[101] Risk Management - The company faces industry risks due to a slowdown in GDP growth, projected at around 7.5% for 2014, which may impact real estate investment and sales[57] - The company emphasizes the importance of cash flow in the capital-intensive real estate sector, highlighting risks associated with delayed sales and financing plans[57] - The company has identified potential risks in project operations due to the lengthy development cycle and various controllable and uncontrollable factors[57] Shareholder Information - The total number of shareholders at the end of the reporting period is 39,967, an increase from 39,023 prior to the annual report disclosure[77] - The largest shareholder, Changchun Economic and Technological Development Zone Venture Capital Holding Co., Ltd., holds 21.88% of shares, totaling 101,736,960 shares, with 50,862,500 shares pledged[77] - The company has not issued any securities or undergone any changes in share structure in the past three years[77] Audit and Compliance - The company received a standard unqualified audit opinion from Ruihua Certified Public Accountants for the financial statements for the year ended December 31, 2013[109] - There were no significant accounting errors or omissions reported during the year, ensuring the quality and transparency of financial disclosures[106] - The company has not faced any penalties or criticisms from the China Securities Regulatory Commission or stock exchanges during the reporting period[71]