2022 年第三季度报告 证券代码：600234 证券简称：科新发展 山西科新发展股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 项目 | 本报告期 | 本报告期比上 年同期增减变 | 年初至报告期 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 动幅度(%) | 末 | 增减变动幅度 | | | | | | (%) | | 营业收入 | 12,333,322.18 | -92.73 | 94,277,386.59 | -80.68 | | 归属于上市公司股东 | 5,692,635.92 | 18.80 | -868,173.19 | -108.63 | | 的净利润 | | | | | 1 / 13 2022 年第三季度报告 | 归属于上市公司股东 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 的扣除非经常性损益 | 5,692 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥81,944,064.41, a decrease of 74.26% compared to ¥318,322,056.35 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥6,560,809.11, representing a decline of 224.65% from a profit of ¥5,263,509.09 in the previous year[19]. - The net cash flow from operating activities was -¥46,884,694.65, slightly improved from -¥48,303,066.07 in the same period last year[19]. - Basic earnings per share for the first half of 2022 were -¥0.0250, a decrease of 183.31% compared to ¥0.0300 in the same period last year[20]. - The company reported a net profit excluding non-recurring gains and losses of -¥6,203,022.41, a decline of 249.12% from ¥4,159,761.47 in the same period last year[19]. - The diluted earnings per share were also -¥0.0250, reflecting the same decline as the basic earnings per share[20]. - The company achieved operating revenue of 81.94 million yuan, a decrease of 74.26% year-on-year, down 236.38 million yuan[33]. - The net profit attributable to shareholders was -6.56 million yuan, a decrease of 1.18 million yuan year-on-year[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -6.20 million yuan, down 1.04 million yuan year-on-year[33]. - The company reported a significant increase in prepayments to RMB 26,652,699.41 from RMB 14,891,260.61, which is an increase of approximately 78.5%[96]. Assets and Liabilities - The total assets decreased by 12.17% to ¥918,107,881.01 from ¥1,045,264,600.25 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were ¥609,593,284.34, down 0.88% from ¥615,014,385.89 at the end of the previous year[19]. - Total liabilities amounted to 288.85 million yuan[33]. - The company's asset-liability ratio stood at 31.46%, with total equity attributable to shareholders at ¥60,959.33 million, down 0.88% from the end of 2021[34]. - Cash and cash equivalents decreased by 48.51% to ¥51,538,134.45 from ¥100,096,581.98 at the end of the previous year[40]. - The total current assets as of June 30, 2022, amounted to RMB 447,548,406.09, a decrease from RMB 574,608,216.57 at the beginning of the period, reflecting a decline of approximately 22.1%[96]. - Accounts receivable increased to RMB 258,918,447.24 from RMB 234,012,787.99, showing a growth of about 10.7%[96]. - The company's inventory decreased to RMB 16,651.29 from RMB 82,362.56, indicating a reduction of about 79.8%[96]. - The total liabilities decreased to CNY 288,845,920.28 from CNY 410,190,892.70, a reduction of 29.5%[99]. Business Strategy and Operations - The company plans to sell its entire stake in Shanshui Media to optimize its business segments[25]. - The construction decoration business is the main focus, with efforts to enhance service capabilities through expanded qualifications[26]. - The advertising media business aims to provide comprehensive marketing solutions, adapting to the increasing demand driven by new technologies[27]. - The company plans to explore suitable projects and business opportunities in line with national policies and market conditions, aiming for strategic adjustments to support future growth[35]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[125]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[124]. Legal and Compliance Issues - A major client, Gome Electrical Appliances, has defaulted on rent payments, which may impact the company's rental income and occupancy rates[50]. - The company is currently involved in 16 pending litigation cases, with claims totaling approximately 16.89 million yuan related to advertising and breach of contract[72]. - The company has formally filed a labor contract dispute case, seeking to avoid paying economic compensation of 7,500 yuan to an employee[71]. - The company faces risks related to the construction decoration industry, including potential decreases in project demand due to macroeconomic fluctuations and client industry policy changes[49]. - The company has not faced any significant integrity issues or unfulfilled court judgments during the reporting period[74]. Financial Management and Governance - The company has no profit distribution plan or capital reserve transfer to share capital plan for the reporting period[4]. - The company has not implemented any employee stock ownership plans or other incentive measures during this period[56]. - The company has committed to avoiding direct or indirect competition with its listed business and will strive to ensure that its controlled enterprises do not engage in similar business activities[61]. - The company has promised to conduct any necessary related transactions at market-based prices and to comply with relevant laws and regulations to protect the interests of minority shareholders[62]. - The company guarantees the independence of its financial accounting department and maintains a separate financial management system[65]. Research and Development - The company’s research and development expenses amounted to ¥2,436,331.46, primarily related to new projects initiated by its subsidiary, TiDa Decoration[36]. - The company has identified key areas for technological innovation and aims to allocate resources towards research and development initiatives[125]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern, reflecting the company's financial position and operating results accurately[142]. - The company follows the enterprise accounting standards, ensuring that the financial statements are true and complete[142]. - The company’s accounting currency is Renminbi (CNY)[145]. - The company’s financial reports are consolidated based on control, including all subsidiaries under its control[151]. - The company recognizes foreign currency transactions at the spot exchange rate on the transaction date, with differences recorded in the current period's profit or loss[159].

Financial Performance - The company's operating revenue for Q1 2022 was ¥36,436,922.56, representing a decrease of 72.26% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥19,387,750.38, reflecting a decline of 513.11% year-on-year[5]. - The basic and diluted earnings per share were both -¥0.07, indicating a decrease of 450% compared to the previous year[7]. - Total revenue for Q1 2022 was CNY 36,436,922.56, a decrease of 72.2% compared to CNY 131,350,493.88 in Q1 2021[18]. - Total operating costs for Q1 2022 were CNY 49,905,908.76, down from CNY 127,189,524.24 in Q1 2021, reflecting a reduction of 60.8%[19]. - Operating profit for Q1 2022 was CNY -21,501,526.56, compared to a profit of CNY 6,429,254.57 in Q1 2021, indicating a significant decline[19]. - The net profit for Q1 2022 was -19,471,076.77 RMB, compared to a profit of 4,679,711.65 RMB in Q1 2021, indicating a significant decline in profitability[20]. - The basic and diluted earnings per share for Q1 2022 were both -0.07 RMB, down from 0.02 RMB in Q1 2021[21]. - The company reported a net loss of CNY -422,289,103.25 in Q1 2022, compared to a loss of CNY -402,901,352.87 in Q4 2021[17]. Assets and Liabilities - The total assets at the end of the reporting period were ¥991,618,841.13, down 5.13% from the end of the previous year[7]. - Current assets totaled CNY 518,747,156.98, a decrease of 9.7% from CNY 574,608,216.57 at the end of 2021[16]. - Total assets as of March 31, 2022, were CNY 991,618,841.13, down from CNY 1,045,264,600.25 at the end of 2021[17]. - Total liabilities decreased to CNY 376,016,210.35 from CNY 410,190,892.70, a reduction of 8.3%[17]. - Total liabilities for Q1 2022 were CNY 182,538,696.98, a decrease from CNY 193,884,844.24 in the previous period[26]. - Current liabilities totaled CNY 84,898,220.16, down from CNY 96,147,158.04 in the previous period[26]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥21,847,834.31, a decrease of 48.97% year-on-year[7]. - Cash flow from operating activities for Q1 2022 was -21,847,834.31 RMB, an improvement from -42,811,089.51 RMB in Q1 2021[22]. - The company reported cash inflows from operating activities of 70,450,799.67 RMB in Q1 2022, compared to 184,723,579.32 RMB in Q1 2021, reflecting a decrease of approximately 61.9%[22]. - Cash outflows from operating activities totaled 92,298,633.98 RMB in Q1 2022, down from 227,534,668.83 RMB in Q1 2021, indicating a reduction of about 59.5%[22]. - Cash flow from operating activities in Q1 2022 was CNY 38,172,866.04, significantly higher than CNY 3,975,323.75 in Q1 2021[30]. - The net cash flow from operating activities was $1,011,900.40, showing an increase from $936,326.87 in the previous period[31]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 10,351[10]. - The top shareholder, Shenzhen Kexin Industrial Holding Co., Ltd., held 60,075,093 shares, accounting for 22.88% of the total shares[11]. Other Information - The company did not report any new product launches or significant market expansions during the quarter[20]. - There were no mentions of mergers or acquisitions in the Q1 2022 report[20]. - The company has not adopted the new accounting standards for the current year, as indicated in the report[32]. - The report was published on April 27, 2022, by the board of directors of Shanxi Kexin Development Co., Ltd.[32].

Financial Performance - The net profit attributable to the parent company for 2021 was CNY 12,616,222.42, resulting in a year-end undistributed profit of CNY -402,901,352.87[6] - The company reported a negative profit distribution for the year, thus no profit distribution or capital reserve transfer to increase share capital will be conducted[6] - The company's operating revenue for 2021 was ¥591.09 million, a decrease of 46.94% compared to ¥1,113.97 million in 2020[22] - The net profit attributable to shareholders for 2021 was ¥12.62 million, down 77.59% from ¥56.30 million in 2020[22] - The basic earnings per share for 2021 was ¥0.0555, representing an 80.25% decline from ¥0.2810 in 2020[24] - The weighted average return on equity decreased to 3.79% in 2021, down 51.61 percentage points from 55.40% in 2020[24] - The cash flow from operating activities for 2021 was negative at -¥128.84 million, a decline of 556.91% compared to ¥28.20 million in 2020[22] - The company achieved operating revenue of CNY 591.09 million, a decrease of 46.94% year-on-year[49] - Net profit attributable to shareholders was CNY 12.62 million, down CNY 4.37 million from the previous year[49] - The net cash flow from operating activities was -CNY 128.84 million, a decline of CNY 156.03 million year-on-year[49] - Total assets at the end of the reporting period were CNY 1,045.26 million, a slight decrease of 0.66% from the previous year[49] - The company's total liabilities decreased by 54.53% to CNY 410.19 million, resulting in a debt-to-asset ratio of 39.24%[49] Risk Management - There were no significant risks that materially affected the company's operations during the reporting period[8] - The company has not engaged in non-operating fund occupation by controlling shareholders or related parties[8] - The company’s future plans and strategic developments are subject to investment risks[7] - The advertising and media business faces market risks due to competition from internet and new media, potentially impacting operational performance[93] - The construction decoration business is sensitive to macroeconomic fluctuations, with a risk of reduced market demand if economic growth slows[93] - The company is exposed to risks from reliance on major clients in its advertising and construction businesses, necessitating the establishment of strategic partnerships to diversify client resources[96] - The company faces legal risks related to labor outsourcing in construction projects, which could lead to economic disputes or lawsuits[95] - The company is sensitive to fluctuations in material prices, which can impact profit margins in the construction decoration industry[95] Corporate Governance - The audit report issued by Zhongxi CPA was a standard unqualified opinion[5] - The company’s financial report is guaranteed to be true, accurate, and complete by its management[5] - The company has not violated decision-making procedures for external guarantees[8] - The company emphasizes strict governance and compliance with laws, holding multiple board meetings and ensuring shareholder rights are protected[100] - The company maintains a robust investor relations strategy, ensuring timely and accurate information disclosure to protect shareholder interests[101] - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholders, ensuring no illegal occupation of funds or assets[102] - The financial independence is upheld through a separate accounting department and independent financial decision-making, with no shared bank accounts with related parties[103] - The company has a complete and independent labor, personnel, and compensation management system, distinct from its controlling shareholders[104] - The board of directors and management team are independent, with no overlapping roles in the controlling shareholder's enterprises, ensuring unbiased governance[104] - The company has not engaged in any significant business competition with its controlling shareholders, maintaining operational independence[104] Strategic Development - The company aims to transform its office building into a unique commercial complex, enhancing management services and optimizing leasing resources[41] - The company plans to strengthen partnerships with major clients in the construction decoration sector and expand its market share in residential and commercial renovations[91] - The company will increase R&D personnel and investment to improve its business capabilities and meet the demand for orderly growth[91] - The company is committed to a "steady progress" development strategy, focusing on existing business areas while exploring new opportunities[88] - The company aims to improve property standards by investing in maintenance and renovation of outdated projects, enhancing service levels and project experience[92] - The company plans to attract new clients by analyzing vacant areas and expanding services, which is expected to drive revenue growth[92] Operational Performance - The company completed a private placement of 60,075,093 shares, raising approximately 480 million RMB to enhance liquidity and reduce debt, improving the capital structure and short-term solvency[34] - The company has diversified its architectural decoration projects to include medical and hotel construction, expanding its service offerings beyond residential and public buildings[40] - The company’s advertising media business provides comprehensive marketing solutions, integrating brand, content, digital, and media marketing[38] - The company has established a robust quality management system, achieving ISO9001, ISO14001, and ISO45001 certifications, ensuring high standards in construction quality and safety[46] - The architectural decoration business operates under a single contract model, with revenue generated primarily through competitive bidding processes[43] - The company has established a comprehensive quality control system and has not faced any major quality-related disputes during the reporting period[71] Shareholder Structure - The largest shareholder, Shenzhen Kexin Industrial Holdings Co., Ltd., holds 60,075,093 shares, representing 22.88% of the total shares[199] - The second largest shareholder, Shenzhen Qianhai Baide Gao Sheng Investment Partnership, holds 27,164,647 shares, accounting for 10.35% of the total shares[199] - The third largest shareholder, Nanjing Sentepais Enterprise Management Co., Ltd., has 13,000,013 shares, which is 4.95% of the total shares[199] - The total number of shares held by the top ten shareholders includes significant stakes from natural persons, with the largest individual shareholder, Zhong Ansheng, holding 11,033,598 shares (4.20%) and Liu Xiaocong holding 9,138,380 shares (3.48%)[199] - The report indicates that there are no pledged, marked, or frozen shares among the top shareholders[199] - The top ten unrestricted shareholders collectively hold a total of 66,000,000 shares, with the largest being Shenzhen Qianhai Baide Gao Sheng Investment Partnership[200] - The report notes that there are established relationships among certain shareholders, indicating potential coordinated actions, particularly among Zhong Ansheng, Zheng Junjie, and others[200] - The company has not identified any other relationships among the top ten shareholders that would constitute concerted action as per regulatory guidelines[200] Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[166] - The company has a pending compensation claim of approximately ¥739,441.98 from the Taiyuan Intermediate People's Court, which remains unresolved[166] - The company has no major accounting errors or issues with its previous auditor, ensuring continuity in financial reporting[163] - The company has no significant related party transactions that require disclosure, indicating a focus on transparency[170] - The company has not faced any penalties from securities regulatory agencies in the past three years[121] Future Outlook - The digital economy is projected to account for 10% of GDP by 2025, driving the transformation of service industries including advertising and logistics[86] - The company is actively involved in investment and development projects, reflecting a commitment to growth and market expansion[115] - The company has committed to fair pricing and market principles in any necessary related transactions with controlled enterprises[150] - The company will ensure that its business operations remain independent from those of its controlling enterprises, maintaining the ability to operate autonomously in the market[152]

Financial Performance - The company's operating revenue for Q3 2021 was ¥169,733,303.28, a decrease of 51.59% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥4,791,960.28, down 81.15% year-on-year[6]. - The basic earnings per share were ¥0.0222, reflecting a decline of 84.70% compared to the previous year[7]. - Total operating revenue for the first three quarters of 2021 was CNY 488,055,359.63, a decrease of 7.26% compared to CNY 526,290,038.24 in the same period of 2020[21]. - Net profit for the third quarter of 2021 was CNY 10,005,696.61, a decline of 66.3% from CNY 29,686,463.14 in the same quarter of 2020[22]. - The company reported a basic earnings per share of CNY 0.0466 for Q3 2021, down from CNY 0.1451 in Q3 2020[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,104,009,484.58, an increase of 4.93% from the end of the previous year[7]. - The company's total liabilities decreased to CNY 471,368,266.70 in Q3 2021 from CNY 902,138,584.37 in Q3 2020, indicating improved financial health[20]. - The total current assets reached CNY 631,095,349.16, up from CNY 585,758,861.89, indicating an increase of about 7.75%[18]. - The company's total assets increased to CNY 1,104,009,484.58 in Q3 2021 from CNY 1,052,163,403.74 in Q3 2020, indicating overall growth in asset base[20]. Shareholder Equity - The equity attributable to shareholders increased by 371.88% to ¥612,456,310.16 due to a non-public offering of shares[7]. - The total equity attributable to shareholders increased to CNY 612,456,310.16 in Q3 2021 from CNY 129,789,750.63 in Q3 2020, showing significant growth in shareholder value[20]. - The company completed a non-public offering of 60,075,093 shares, increasing the total share capital and enhancing capital strength, with the controlling shareholder holding 33.23% post-offering[15]. Cash Flow - The cash flow from operating activities was not applicable for this period[7]. - Cash flow from operating activities for the first three quarters of 2021 was CNY 453,448,366.35, compared to CNY 373,839,900.11 in the same period of 2020, indicating improved cash generation[24]. - Net cash flow from operating activities was -182,173,551.38 RMB, compared to -18,474,719.37 RMB in the previous period, indicating a significant decline[25]. - Total cash inflow from financing activities was 472,388,899.11 RMB, with a net cash flow of 142,824,112.56 RMB, up from 29,405,500.00 RMB in the previous period[26]. Operational Costs and Expenses - The company’s management expenses rose by 33.27%, driven by increased personnel costs and rental expenses[10]. - Total operating costs for the first three quarters of 2021 were CNY 469,386,749.03, down from CNY 485,925,185.94 in 2020, reflecting a cost reduction strategy[21]. - The company incurred a financial expense of CNY 7,023,081.12 in the first three quarters of 2021, down from CNY 9,962,783.67 in the same period of 2020, reflecting effective cost management[21]. Contractual Obligations - The company reported a significant increase in contract assets by 66.74%, attributed to uncompleted construction contracts[10]. - The company’s contract liabilities increased to CNY 25,253,128.65 in Q3 2021 from CNY 12,455,882.11 in Q3 2020, suggesting growth in customer commitments[20]. Shareholder Structure - The number of ordinary shareholders at the end of the reporting period was 8,595[12]. - The company has established a consistent shareholder structure, with the top ten shareholders holding a combined 66.88% of the shares[14].

Financial Performance - The company's operating revenue for the first half of 2021 reached RMB 318,322,056.35, an increase of 81.22% compared to RMB 175,651,349.92 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2021 was RMB 5,263,509.09, representing a growth of 33.32% from RMB 3,947,931.78 in the previous year[18]. - Basic earnings per share increased by 53.85% to RMB 0.0300 from RMB 0.0195 year-on-year[18]. - The net profit after deducting non-recurring gains and losses decreased by 18.80% to RMB 4,159,761.47 from RMB 5,122,758.58 in the same period last year[18]. - The company's total assets at the end of the reporting period were RMB 1,017,718,591.53, a decrease of 3.27% from RMB 1,052,163,403.74 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 4.06% to RMB 135,055,937.04 from RMB 129,789,750.63 at the end of the previous year[18]. - The net cash flow from operating activities was negative at RMB -48,303,066.07, compared to RMB -36,550,862.97 in the same period last year[18]. - The weighted average return on equity decreased to 3.97%, down 1.26 percentage points compared to the previous period[19]. - The return on equity after deducting non-recurring gains and losses fell to 3.15%, a decrease of 3.64 percentage points[19]. - The company reported a total of 5,263,509.09 in comprehensive income for the period[117]. Business Operations - The company continues to expand its two main businesses: advertising media and construction decoration, while also managing office building rental operations[21]. - The advertising media business aims to become a leading service provider in China, offering comprehensive marketing solutions including brand, content, digital, and media marketing[22]. - The construction decoration business has expanded its project types to include medical and hotel construction, in addition to residential and public building projects[22]. - The company has received multiple awards for its advertising services, including the IAI International Advertising Award and the Golden Award at the Golden Investment Awards[26]. - The company is actively pursuing new marketing strategies such as short video marketing and live-streaming e-commerce to drive future revenue growth[26]. - The advertising media business expanded its client base, focusing on automotive, real estate, gaming, and fast-moving consumer goods sectors[29]. - The company successfully secured contracts for medical and hotel renovation projects, enhancing its construction and decoration business capabilities[29]. Financial Health - The company's total liabilities were 862,354,500 RMB, down by 4.41% year-on-year[31]. - The asset-liability ratio stood at 84.73%, with equity attributable to shareholders increasing by 4.06% to 135,055,900 RMB[31]. - The company raised approximately 480 million RMB through a private placement to enhance liquidity and repay interest-bearing debts[30]. - The company has no outstanding guarantees to shareholders or related parties, ensuring a stable financial position[75]. - The company’s total liabilities decreased by RMB 23.734 million during the reporting period, reflecting improved financial health[71]. - The company’s total equity at the end of the reporting period was RMB 100,759 million, with an unallocated profit of RMB 6,696.6 million[135]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[5]. - The company faced market risks in advertising and construction sectors due to intense competition and economic fluctuations[45]. - The company highlighted the risk of reliance on major clients in its advertising and construction businesses[48]. - The company is actively monitoring accounts receivable to mitigate collection risks[47]. - The company has committed to avoiding any direct or indirect competition with its listed business and will notify the company of any potential conflicts arising from business opportunities[58]. Corporate Governance - The company has established a flexible talent recruitment and training mechanism to attract top industry talent, enhancing its competitive edge[26]. - The company has committed to fulfilling any measures related to compensation for losses caused by non-compliance with its commitments[63]. - The company has pledged to ensure that any related party transactions are conducted at market prices and in compliance with relevant laws and regulations[60]. - The company guarantees the independence of its financial accounting department and financial management system[61]. - The company supports the independent operation of the board of directors and supervisory board of the listed company[61]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 9,112[85]. - The top ten shareholders hold a combined total of 87,239,740 shares, representing 33.23% of the total shares post-issuance[88]. - The largest shareholder, Shenzhen Qianhai Paide Gao Sheng Investment Partnership, holds 27,164,647 shares, accounting for 13.42% of total shares[87]. - The company’s board member Chen Fuxing acquired 24,100 shares during the reporting period through secondary market purchases[89]. Future Outlook - The company plans to focus on expanding its market presence and developing new products in the upcoming quarters[130]. - The company is exploring potential mergers and acquisitions to strengthen its market position and drive future growth[130]. - The company has initiated new strategies to enhance operational efficiency and reduce costs moving forward[130].

Financial Performance - Operating revenue increased by 89.88% to CNY 131,350,493.88 compared to the same period last year[5] - Net profit attributable to shareholders increased by 81.80% to CNY 4,693,170.70 compared to the same period last year[5] - Total revenue for Q1 2021 reached ¥131,350,493.88, a significant increase of 90.0% compared to ¥69,177,293.29 in Q1 2020[22] - Operating profit for Q1 2021 was ¥6,429,254.57, up from ¥3,885,521.20 in Q1 2020, reflecting a growth of 65.8%[23] - Net profit for Q1 2021 was ¥4,679,711.65, compared to ¥2,762,482.63 in Q1 2020, representing an increase of 69.3%[24] - The company reported a net loss of 410,821,727.27 CNY as of March 31, 2021, slightly improved from a loss of 415,517,575.29 CNY at the end of 2020[16] Assets and Liabilities - Total assets decreased by 6.82% to CNY 980,457,807.30 compared to the end of the previous year[5] - Total assets as of Q1 2021 amounted to ¥570,588,116.69, up from ¥568,176,690.56 at the end of Q1 2020[20] - Current liabilities totaled 718,123,666.61 CNY, down from 804,691,267.94 CNY at the end of 2020, indicating improved liquidity[15] - Total liabilities increased to ¥488,580,824.81 in Q1 2021 from ¥485,001,439.62 in Q1 2020[20] - Total liabilities rose from 902,138,584.37 RMB to 911,617,509.81 RMB, an increase of about 1.32%[39] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 42,811,089.51, worsening from a net outflow of CNY 21,143,508.88 in the previous year[5] - The cash flow from operating activities for Q1 2021 was -¥42,811,089.51, worsening from -¥21,143,508.88 in Q1 2020[31] - The company reported a cash outflow from financing activities of -¥1,321,807.00 in Q1 2021, with no cash inflow reported[32] - The company’s cash flow management is reflected in the short-term borrowings and accounts payable figures, indicating liquidity management strategies[41] Shareholder Information - The number of shareholders reached 7,498 at the end of the reporting period[6] - Following the private placement, the controlling shareholder will hold 33.23% of the total shares post-issuance, increasing the company's financial strength and reducing the debt-to-asset ratio[9] Management and Expenses - Management expenses rose by 41.53% to CNY 8,143,933.18 due to increased business activities and personnel[8] - The total operating costs for Q1 2021 were ¥127,189,524.24, up from ¥64,625,200.37 in Q1 2020, reflecting an increase of 96.7%[22] - The management expenses for Q1 2021 were ¥1,024,981.86, up from ¥858,228.50 in Q1 2020, reflecting a 19.4% increase[27] Fundraising and Financial Strategy - The company plans to issue up to 60,075,093 shares at a price of 7.99 CNY per share, raising a total of no more than 480 million CNY to supplement working capital and repay interest-bearing debts[9] - The issuance of new shares is expected to significantly enhance the company's cash flow and reduce interest expenses, thereby improving profitability[10] - The company aims to strengthen its asset-liability structure and enhance its overall risk resistance capabilities through the planned fundraising[10] Equity and Shareholder's Equity - The total equity attributable to shareholders decreased to ¥82,007,291.88 in Q1 2021 from ¥83,175,250.94 in Q1 2020[20] - Shareholders' equity stood at $83.18 million, reflecting a slight decrease in retained earnings to -$460.86 million[42]

Financial Performance - In 2020, the company's operating revenue reached CNY 1,113,972,554.86, a significant increase of 388.79% compared to CNY 227,902,943.03 in 2019[20] - The net profit attributable to shareholders of the listed company for 2020 was CNY 56,304,032.10, up 233.36% from CNY 16,890,003.42 in 2019[20] - The net assets attributable to shareholders of the listed company increased by 76.62% to CNY 129,789,750.63 at the end of 2020, compared to CNY 73,485,718.53 at the end of 2019[20] - The total assets of the company at the end of 2020 were CNY 1,052,163,403.74, reflecting a 73.92% increase from CNY 604,975,310.46 in 2019[20] - The basic earnings per share for 2020 was CNY 0.28, a 250% increase from CNY 0.08 in 2019[21] - The weighted average return on equity for 2020 was 55.40%, an increase of 28.91 percentage points from 26.49% in 2019[21] - The net profit after deducting non-recurring gains and losses was CNY 66,980,338.99, which is a 420.37% increase from CNY 12,871,583.44 in 2019[20] - The company reported a net cash flow from operating activities of CNY 28,197,109.66, a decrease of 36.39% compared to CNY 44,328,415.85 in 2019[20] Business Segments and Operations - The company’s main business segments include advertising media, construction decoration, and office leasing, with a focus on integrated marketing services and comprehensive decoration services[31] - The company aims to expand its service offerings across various industries, including real estate, automotive, e-commerce, and finance, enhancing its market presence[32] - The company has a first-class qualification for construction decoration, enabling it to undertake various types of projects, including residential and commercial[31] - The advertising media business has gained significant industry recognition, winning multiple awards including the 2020 Golden Investment Award and the 2020 4A Creative Silver Award[38] - The construction and decoration engineering business has signed strategic cooperation agreements with major clients, laying a solid foundation for future scale development[39] - The company achieved a total revenue of approximately 746.72 million RMB from construction and decoration engineering business, accounting for 67.03% of total revenue in 2020[75] Strategic Initiatives and Future Plans - The company plans to issue no more than 60,075,093 shares to raise a total of up to 480 million RMB to enhance capital strength and improve the capital structure[44] - The company plans to focus on expanding its advertising media business while consolidating its office leasing and architectural decoration engineering businesses[87] - The architectural decoration engineering business will adopt a diversified market expansion model, increasing market share in residential and commercial renovations[89] - The company is exploring potential acquisitions to strengthen its content library, with a budget of 500 million RMB allocated for this purpose[150] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next three years[149] Risks and Challenges - The company’s advertising media business faces significant market competition risks due to a large number of participants in the industry, which may impact market share and profitability[91] - The construction decoration engineering business is susceptible to macroeconomic fluctuations, with potential demand shrinkage if economic growth slows down[91] - The rapid growth of accounts receivable poses a risk, as any adverse changes in client financial conditions could hinder timely collections, impacting cash flow[93] - The company has established strategic partnerships with major clients to reduce reliance on a few large customers, enhancing business diversification[94] Corporate Governance and Compliance - The company has committed to avoiding any direct or indirect competition with its listed business and will strive to ensure that its controlled enterprises do not engage in similar business activities[100] - The company guarantees to compensate any losses incurred by the listed company due to violations of these commitments[102] - The company has committed to fulfilling its obligations regarding compensation measures and will bear legal responsibilities if it fails to do so, as per regulations from the China Securities Regulatory Commission (CSRC) and other regulatory bodies[109] - The company has not reported any significant changes in its accounting policies that would affect its financial reporting[111] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,601, an increase from 7,515 at the end of the previous month[134] - The largest shareholder, Shenzhen Qianhai Paide Gao Sheng Investment Partnership (Limited Partnership), held 27,164,647 shares, representing 13.42% of total shares[136] - The top ten shareholders collectively held a significant portion of the company's shares, with the largest three shareholders alone accounting for over 25%[136] Employee and Management Information - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 4.2771 million yuan[159] - The number of employees in the parent company is 26, while the number of employees in major subsidiaries is 180, totaling 206 employees[161] - The company established a performance-oriented compensation incentive system based on positions and market references[162] Audit and Financial Reporting - The internal control audit report received a standard unqualified opinion, indicating no significant deficiencies were found during the audit[178] - The company reported adjustments to its financial statements due to the new revenue recognition standard, including a decrease in inventory by CNY 14,551,581.80 and an increase in contract assets by the same amount[113] - The company appointed Zhongxi Accounting Firm as its auditor for the 2020 fiscal year, with an audit fee of CNY 600,000[116]

Financial Performance - Operating revenue surged by 276.74% to CNY 526,290,038.24 for the year-to-date period[6] - Net profit attributable to shareholders rose by 228.62% to CNY 29,373,945.68 year-to-date[6] - The company reported a net profit of CNY 30,395,012.34 after deducting non-recurring gains and losses, reflecting a 240.04% increase year-to-date[6] - Basic earnings per share increased by 228.28% to CNY 0.1451[6] - Net profit for the period was ¥29,373,900, representing a 73.91% increase compared to the total net profit of ¥16,890,000 for the entire previous year[15] - Total operating revenue for Q3 2020 reached ¥350,638,688.32, a significant increase from ¥60,405,938.99 in Q3 2019[25] - Net profit for Q3 2020 was ¥25,570,097.45, up from ¥3,743,896.27 in Q3 2019, reflecting a growth of approximately 583%[27] - The total profit for the first three quarters of 2020 was ¥38,674,357.09, compared to ¥15,987,351.00 in the same period of 2019, marking a growth of about 142%[27] Assets and Liabilities - Total assets increased by 41.07% to CNY 853,459,819.71 compared to the end of the previous year[6] - Total liabilities rose to ¥730,638,724.27, up from ¥511,840,678.16, indicating an increase of about 42.8%[20] - Owner's equity increased to ¥122,821,095.44 from ¥93,134,632.30, reflecting a growth of approximately 31.9%[20] - Current liabilities totaled ¥631,086,133.98, compared to ¥411,721,147.14, marking an increase of around 53.2%[19] - Contract assets rose dramatically by 1393.83% to ¥217,376,070.19, compared to ¥14,551,581.80 at the end of 2019, reflecting uncompleted construction contracts[11] - Accounts receivable increased by 110.38% to ¥36,618,014.59 from ¥17,405,244.28, indicating a rise in business activity[11] - The company's total assets as of Q3 2020 amounted to ¥604,975,310.46, remaining unchanged from the previous year[42] - The total liabilities of the company were reported at ¥511,840,678.16, indicating no change from the previous year[41] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 18,474,719.37, compared to a positive cash flow of CNY 4,090,839.41 in the same period last year[6] - Operating cash flow for the first nine months of 2020 was negative at ¥18,474,719.37, a significant decline from a positive cash flow of ¥4,090,839.41 in the same period of 2019[34] - The company reported a significant decrease in cash received from operating activities, with cash from sales dropping to ¥7,069,436.38 from ¥10,996,325.20 in the same period of 2019, a decline of 35.5%[36] - The company’s cash outflow for operating activities was ¥11,812,854.08, down from ¥22,411,583.62 in the same period of 2019, reflecting a decrease of 47.4%[36] - The company received cash from borrowings amounting to ¥30,000,000.00 in Q3 2020, indicating a strategy to bolster liquidity[35] Shareholder Information - The total number of shareholders reached 7,922 by the end of the reporting period[9] - The top ten shareholders held a combined 56.67% of the company's shares, with the largest shareholder owning 13.42%[9] Government Support - The company received government subsidies amounting to CNY 959,738.88 year-to-date, with CNY 84,738.88 recognized in the current period[8] Future Plans - The company plans to issue up to 60,075,093 shares at a price of ¥7.99 per share, aiming to raise approximately ¥480 million from Shenzhen Kexin Industrial Holdings Co., Ltd.[13] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[27] Operational Costs - The operating costs surged by 397.33% to ¥445,397,622.17, up from ¥89,558,245.45, primarily due to increased construction and media business activities[12] - The company’s management expenses rose by 75.18% to ¥20,630,022.68, attributed to increased business operations and personnel costs[12] - Total operating expenses for Q3 2020 were ¥461,193,567.81, compared to ¥106,476,423.37 in Q3 2019, representing an increase of 333.5%[34] Credit and Impairment - The company incurred a credit impairment loss of ¥2,270,243.87 in Q3 2020, compared to a reversal of ¥1,226,790.51 in Q3 2019, reflecting changes in credit risk[28] Comprehensive Income - The total comprehensive income for Q3 2020 was ¥25,570,097.45, compared to ¥3,743,896.27 in Q3 2019, indicating overall financial health improvement[28] - The total comprehensive income for Q3 2020 was a loss of ¥2,103,564.94, compared to a loss of ¥627,002.93 in Q3 2019, reflecting a decline of 235.5%[32]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥175,651,349.92, representing a 121.53% increase compared to ¥79,291,585.85 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 34.73% to ¥3,947,931.78 from ¥6,048,921.77 in the previous year[21]. - The net cash flow from operating activities was negative at -¥36,550,862.97, compared to a positive ¥16,071,736.95 in the same period last year[21]. - The total operating revenue for the first half of 2020 reached ¥175,651,349.92, a significant increase of 121.0% compared to ¥79,291,585.85 in the same period of 2019[92]. - The company reported a net loss of CNY 8,002,610.65 for the first half of 2020, compared to a net loss of CNY 6,572,814.51 in the same period of 2019, indicating a deterioration in performance[97]. - The total comprehensive income for the first half of 2020 was CNY -8,002,610.65, reflecting the overall financial difficulties faced by the company[98]. - The company reported a significant increase in sales revenue from CNY 53,610,999.86 in the first half of 2019 to CNY 115,278,186.61 in the first half of 2020[99]. - The company reported a decrease in comprehensive income of CNY 65.73 million for the current period, which impacted the overall equity[126]. Assets and Liabilities - The total assets increased by 11.30% to ¥673,328,594.93 from ¥604,975,310.46 at the end of the previous year[21]. - The company's total assets decreased slightly to ¥549,581,104.79 from ¥554,083,214.81 at the end of 2019[90]. - The total liabilities reached RMB 576,077,596.94, compared to RMB 511,840,678.16 at the end of 2019, reflecting an increase in financial obligations[86]. - The total liabilities increased to ¥456,824,043.43, up from ¥453,323,542.80 in the previous period[90]. - The company's short-term borrowings amounted to ¥30,000,000.00, indicating reliance on debt financing[85]. - Accounts receivable increased by 128.12% year-on-year, reaching 79,424,717.48, accounting for 11.80% of total assets[34]. - Other payables increased by 3.70% year-on-year to 330,698,438.48, representing 49.11% of total assets[34]. Shareholder Information - The company has a total share capital of 63.86 million shares, with a par value of CNY 1 per share[128]. - The total number of common stock shareholders reached 8,026 by the end of the reporting period[75]. - The largest shareholder, Shenzhen Qianhai Paide Gao Sheng Investment Partnership, holds 27,164,647 shares, representing 13.42% of the total shares[76]. - The second-largest shareholder, Nanjing Sentai Investment Co., Ltd., holds 17,874,612 shares, accounting for 8.83%[76]. - After the private placement, the controlling shareholder will change to Kexin Holdings, which will hold 33.23% of the total shares post-issuance[71]. Management and Governance - The actual controller of the company changed from Mr. Wu Taijiao to Mr. Huang Shaojia during the reporting period[8]. - The company did not have any profit distribution plan or capital reserve transfer plan during the reporting period[4]. - There were no significant risks or non-operating fund occupation by controlling shareholders and their related parties[6][7]. - The company has no significant litigation or arbitration matters during the reporting period[61]. - The company has committed to measures to avoid competition and ensure the independence of the listed company following a recent acquisition[60]. Operational Highlights - The advertising media business generated revenue of RMB 75.63 million, an increase of RMB 6.33 million from RMB 69.30 million in the previous year[30]. - The decoration and renovation business secured 12 projects with a total bid amount of approximately RMB 300 million, contributing about 50% to the company's total revenue[30]. - The company aims to expand its marketing services, focusing on brand promotion and event planning[49]. - The company plans to continue expanding its customer base and business scope to ensure stable growth in its decoration business[55]. - The company is actively pursuing the disposal of its stake in Beijing Junren Film and Television, which has not yet commenced substantive operations[52]. Financial Strategy - The company plans to issue up to 60,075,093 shares in a private placement, with a subscription amount of ¥480 million, aimed at enhancing capital strength and reducing debt ratio[71]. - The company took on a bank loan of RMB 30 million during the reporting period, contributing to a net cash flow from financing activities of RMB 29.74 million[32]. - The company experienced a significant cash outflow from financing activities, impacting its overall liquidity position[104]. - The company plans to focus on market expansion and new product development to enhance revenue streams in the upcoming quarters[104]. - The management expressed optimism about future performance, citing ongoing investments in technology and innovation[104]. Accounting Policies - The company follows the accrual basis of accounting and prepares its financial statements in accordance with the relevant accounting standards[131]. - Financial assets are classified based on the management's business model and cash flow characteristics, with initial recognition at fair value[151]. - The company recognizes joint arrangements when it shares control with other parties, requiring unanimous consent for significant decision-making[177]. - The company recognizes termination benefits when it cannot unilaterally withdraw the termination plan or when it confirms costs related to restructuring[200].