Financial Performance - The net profit attributable to shareholders for 2022 was -811,698,184.18 RMB, indicating a significant loss for the company[4]. - Operating revenue decreased by 57.53% to ¥2,568,386,291.32 in 2022 from ¥6,047,321,260.16 in 2021[22]. - Net profit attributable to shareholders was -¥811,698,184.18 in 2022, compared to -¥506,795,429.22 in 2021[22]. - Cash flow from operating activities decreased by 42.20% to ¥15,823,149,926.31 in 2022 from ¥27,377,429,885.11 in 2021[22]. - Total assets decreased by 66.37% to ¥13,527,573,991.57 at the end of 2022 from ¥40,223,042,911.73 at the end of 2021[22]. - Basic earnings per share was -¥0.51 in 2022, compared to -¥0.32 in 2021[23]. - The weighted average return on equity was -223.22% in 2022, compared to -286.3% in 2020[23]. - The company reported a net profit of -¥375,463,543.48 in Q1 2022, with a significant recovery to ¥107,463,921.29 in Q2[24]. - The net profit attributable to shareholders after deducting non-recurring gains was -¥1,395,140,470.77 in 2022, an improvement from -¥2,268,190,267.05 in 2021[22]. - The company achieved a net asset attributable to shareholders of ¥1,473,226,419.80 at the end of 2022, a 108.86% increase from ¥705,379,026.90 at the end of 2021[22]. Corporate Governance - The audit report issued by Xinyong Zhonghe Certified Public Accountants confirmed the financial statements with a standard unqualified opinion[8]. - The company emphasizes the importance of accurate and complete financial reporting, with all board members present at the meeting[8]. - The company held 1 annual general meeting and 10 extraordinary general meetings in 2022, ensuring all shareholders, especially minority shareholders, had equal rights to information and decision-making[86]. - The board of directors convened 18 meetings during the reporting period, with a composition of 7 members, including 3 independent directors, ensuring effective governance and oversight[87]. - The supervisory board held 15 meetings, focusing on the review of financial reports and the supervision of management's execution of duties, contributing to the company's stable development[88]. - The company implemented a new external donation policy and revised its management contract system during the reporting period, enhancing governance practices[89]. - The company maintained independence from its controlling shareholder, ensuring separate operations and compliance with legal requirements regarding related party transactions[89]. - The company emphasized investor relations management, utilizing various communication channels to enhance transparency and trust with investors[90]. - The company strictly adhered to information disclosure regulations, ensuring timely and accurate communication with stakeholders[90]. Risk Management - The company has outlined potential risks in its future development plans, urging investors to be cautious[7]. - The company recognizes the risks associated with transitioning from real estate development to light asset operations, including competition and market fragmentation[83]. - The company is committed to enhancing its management systems across various operational aspects to support its transformation strategy[81]. - The company is actively seeking to optimize its economic indicators by accelerating inventory turnover and improving cash flow[81]. Legal Matters - The company is currently involved in several ongoing legal disputes related to real estate transactions, with amounts in question reaching 432,560.40 yuan[156]. - The company has been involved in multiple legal disputes, with various cases still pending resolution as of the end of 2022[154]. - The company is facing a lawsuit from Zhongjian Suifeng regarding a loan dispute, which has been officially filed in court[154]. - The company has retained the auditing firm Xin Yong Zhong He for the 2022 financial report audit, ensuring compliance and accuracy in financial reporting[152]. - The company is actively managing its legal risks associated with labor disputes and real estate contracts[156]. Operational Performance - The company achieved an operating revenue of CNY 2.568 billion, and the net assets attributable to shareholders increased by 108.86% to CNY 1.473 billion, while the asset-liability ratio decreased from 93.8% to 81.16%[31]. - The company completed the equity transfer of 5 remaining Yintai projects, recovering CNY 6.187 billion, and finalized the equity transfer of 10 companies in 2022, recovering CNY 4.181 billion[31]. - The company managed a total area of 6.4415 million square meters in property management, with an additional 1.2877 million square meters added during the year[33]. - The company operates 21 large shopping centers and other commercial projects, with a signed area of approximately 2.68 million square meters, including one new project added in 2022[34]. - The average GOP rate for the two five-star hotels operated by the company was 26.50% in 2022[34]. Market Strategy - The company plans to enhance its market expansion capabilities in the property management sector, focusing on community value-added services[36]. - The company is exploring financing channels with financial institutions to support its operational properties[81]. - The company aims to transform into a "city comprehensive service operator" and is focusing on diversifying its business into property management, commercial operations, and cultural tourism[80]. - The company is focused on expanding its market presence and enhancing its operational management capabilities[100]. Financial Management - The company plans to provide guarantees for its controlling shareholder's loans from various banks, indicating a strategy to support its parent company financially[114]. - The company has proposed to adjust asset impairment provisions for the first three quarters of 2022, reflecting a proactive approach to financial management[115]. - The company has a total of CNY 4.069 billion in restricted assets due to collateral for loans[59]. - The company has reported a total of 17,550 shares held by a departing supervisor, with a total pre-tax remuneration of 17.40 million yuan[95]. Social Responsibility - The company has made a total donation of 80,000 yuan to support grassroots party building activities, benefiting 250 individuals[131]. - The company has signed a contract for construction project management with local authorities to address ecological environment protection, achieving preliminary results in project remediation[133]. - The company has a total of 91 active party members who completed 142 out of 145 planned community service tasks, contributing a total of 425.64 hours of service[131]. Future Outlook - The company plans to enhance its property management and commercial operation sectors, targeting six service platforms including home services and community management[81]. - The company anticipates challenges due to external economic pressures, with a reported 1.8% increase in per capita consumption in 2022, which adjusted for inflation shows a 0.2% decline[82]. - The company is focusing on technological advancements in property management to streamline operations and reduce costs[170]. - Future guidance estimates a revenue target of 1.5 billion yuan for 2023, with a projected growth rate of 25%[190].

证券代码：600239 证券简称：ST 云城 云南城投置业股份有限公司 2023 年第一季度报告 云南城投置业股份有限公司 2023 年第一季度报告 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 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | 项目 | 本报告期 | | 本报告期比上年同期增减 | | --- | --- | --- | --- | | | | | 变动幅度(%) | | 营业收入 | | 396,995,430.80 | -50.86 | | 归属于上市公司股东的净利润 | | 153,634,166.70 | 不适用 | | 归属于上市公司股东的扣除非经常 性损益的净利润 | | -13,496,170.60 | 不适用 | | 经营活动产生的现金流量净额 | | 381,239,610.23 | 不适用 | | 基本每股收益（元/股） | | 0.10 | 不适用 | | 稀释每股收益 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥567,766,058.06, a decrease of 62.74% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥203,222,666.11, reflecting a significant decline of 439.94% year-to-date[6]. - The basic earnings per share for the year-to-date period was -¥0.29, a decrease of 426.08% compared to the previous year[7]. - The total assets at the end of the reporting period were ¥27,324,996,802.44, down 32.07% from the previous year-end[7]. - The net cash flow from operating activities for the year-to-date period decreased by 69.90% to ¥7,711,377,423.27[6]. - The weighted average return on equity was -43.79% for the current period, a decrease of 213.26 percentage points year-on-year[7]. - The total equity attributable to shareholders decreased by 48.64% to ¥362,297,231.47 compared to the previous year-end[7]. - The company reported a significant decline in office and residential signed amounts, with office signed amount down 19% and residential down 88% year-on-year[15]. - The total comprehensive loss for Q3 2022 was CNY 734,653,095.79, compared to a loss of CNY 204,356,382.92 in Q3 2021, reflecting an increase in comprehensive losses of approximately 259.5%[103]. - The company reported an investment loss of CNY 423,209,268.97 in Q3 2022, compared to a profit of CNY 1,787,207,853.22 in Q3 2021, marking a significant downturn[101]. Legal Disputes - The company is involved in multiple legal disputes, including a case where it was ordered to pay 6.21 million yuan due to a decoration contract dispute[17]. - The company has faced a lawsuit from Zhejiang Baoye Construction Group regarding a construction contract dispute, with the case currently under appeal[17]. - The company reported a total compensation of 366,806.04 yuan to 12 individuals due to labor disputes, with individual amounts ranging from 20,767.66 yuan to 56,878.61 yuan[21]. - The company has multiple ongoing labor dispute cases, indicating a potential area of financial liability and operational risk[21][22][23]. - The company is involved in multiple arbitration cases, with claims totaling approximately ¥98,134.89, ¥50,395.41, and ¥284,234.2 from various plaintiffs related to labor disputes[24]. - The company is facing various legal challenges related to rental agreements, which may impact its financial performance in the short term[55][57][58]. - The company has ongoing litigation related to various contracts, including a case involving a service fee of ¥288,000.00[93]. - The company is currently managing multiple legal cases that may impact its financial position and cash flow[77]. - The company has been actively involved in resolving disputes to mitigate potential financial liabilities[78]. Asset Management - The total assets as of September 30, 2022, were ¥17,997,607,005.41, down 33.0% from ¥26,839,927,827.83 at the end of 2021[108]. - The company's cash and cash equivalents at the end of Q3 2022 were ¥415,630,623.73, down from ¥601,122,375.46 at the end of Q3 2021, reflecting a decrease of 30.9%[105]. - Accounts receivable increased significantly to ¥262,760,244.71 from ¥180,632,367.25, marking an increase of approximately 45.5%[96]. - Inventory levels dropped sharply to ¥6,004,774,118.77 from ¥17,301,208,175.49, indicating a decrease of around 65.3%[96]. - The total liabilities decreased to ¥10,328,802,703.87 from ¥18,653,461,481.88, reflecting a reduction of approximately 44%[97]. Revenue and Costs - Total operating revenue for Q3 2022 was CNY 1,999,364,748.69, a decrease from CNY 3,218,241,088.62 in Q3 2021, representing a decline of approximately 37.8%[101]. - Total operating costs for Q3 2022 were CNY 2,850,158,971.31, down from CNY 4,924,976,201.60 in Q3 2021, indicating a reduction of about 42.1%[101]. - Cash inflows from operating activities for the first three quarters of 2022 were CNY 9,668,733,472.85, significantly lower than CNY 29,028,508,802.44 in the same period of 2021, representing a decrease of about 66.7%[104]. - The net cash flow from operating activities for the first three quarters of 2022 was a negative CNY 65,422,832.42, compared to a positive CNY 740,935,802.48 in the same period of 2021[113]. Settlement and Payments - The company has reached a mediation agreement in a case with a total compensation of 20,000 RMB for economic losses[83]. - The company has been ordered to pay a penalty of 213,300 CNY in a separate rental contract dispute[79]. - The company has settled several disputes through mediation, resulting in various payment obligations[78]. - The company has successfully resolved several disputes, with judgments in favor of the company leading to the collection of outstanding fees[60].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,431,598,690.63, a decrease of 15.51% compared to CNY 1,694,396,366.33 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of CNY 267,999,622.19, compared to a profit of CNY 394,610,490.46 in the previous year, indicating a significant downturn[17]. - The net cash flow from operating activities was CNY 4,966,562,785.40, down 76.15% from CNY 20,827,547,964.73 in the same period last year[17]. - The total assets decreased by 21.24% to CNY 31,680,932,811.48 from CNY 40,223,042,911.73 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 19.81% to CNY 565,672,225.41 from CNY 705,379,026.90 at the end of the previous year[17]. - The basic earnings per share for the first half of 2022 was -CNY 0.17, compared to CNY 0.25 in the same period last year[18]. - The weighted average return on net assets was -46.91%, a decrease of 265.59 percentage points from 218.68% in the previous year[18]. - The company achieved a main business revenue of RMB 1.30 billion in the first half of 2022, a decrease of 11.19% compared to the same period last year[32]. - Real estate development revenue was RMB 565 million, down 9.82% year-on-year, accounting for 39.48% of total revenue[32]. - The company's main business cost increased by 4.91% to RMB 800 million compared to the previous year[32]. - The gross profit margin for the main business was 38.40%, down 9.45 percentage points compared to the previous year[33]. Asset Management and Restructuring - The asset-liability ratio stood at 92.99%, a decrease of 0.81 percentage points compared to the end of 2021[27]. - The company completed the divestment of three wholly-owned subsidiaries, optimizing its asset structure as part of its strategic transformation[24]. - The company aims to reduce its asset-liability ratio to below 90% by the end of 2022 through asset restructuring and debt recovery efforts[28]. - The company is transitioning from real estate investment and development to a light asset operation model, leveraging existing resources[24]. - The company is actively optimizing its asset structure by divesting non-core assets to improve its balance sheet and reduce debt levels[79]. - The company plans to publicly sell 100% equity stakes in multiple subsidiaries, including Kunming Chenghai and Honghe Real Estate, as part of its major asset restructuring efforts[79]. Legal Challenges and Litigation - The company has ongoing significant litigation matters, including a contract dispute with Yunnan Chengtou Real Estate Co., Ltd. and others, with the first instance trial scheduled for August 26, 2022[85]. - The company is currently negotiating a settlement regarding a loan contract dispute involving multiple parties, including Yunnan Baifeng Investment Group[84]. - The company is facing a lawsuit from Yunnan Chengtou Real Estate Co., Ltd. regarding a share transfer contract dispute, with the first instance trial yet to be held[85]. - The company has reported a total of 110,137.2 yuan in property service fees collected from various defendants, with several cases resolved through settlements[96]. - The company has multiple lawsuits pending in Kunming City, with various amounts claimed, highlighting ongoing legal challenges in its operations[92][93]. - The company is actively pursuing legal action to recover outstanding amounts, which may impact its financial performance in the short term[94]. - The company is involved in multiple lawsuits related to financial disputes, including a claim for 3,630,000 CNY against Harbin Yinqi Real Estate Development Co., Ltd. which is still pending[118]. - The company is currently facing multiple legal proceedings that may impact its financial position[106][107]. - The company is involved in a lawsuit where it is required to pay 8,989,534.81 CNY related to a construction contract dispute[107]. - The company is currently engaged in litigation with multiple parties, indicating a complex legal environment affecting its operations[118][119]. Strategic Focus and Future Outlook - The company has not disclosed any new product developments or market expansion strategies in the report[3]. - The company plans to strengthen internal management and enhance core competitiveness to mitigate operational risks[42]. - The company is preparing for potential market expansion following the resolution of ongoing legal disputes, which may free up resources for new investments[127]. - Future outlook remains uncertain due to ongoing legal challenges and financial obligations[106][107]. - The company is navigating a complex legal landscape that could affect its financial stability and market position[140][141]. Corporate Governance and Compliance - There are no indications of non-operating fund occupation by controlling shareholders or related parties[4]. - The company has committed to avoiding any form of competition with its listed business by ensuring that its controlling shareholders and related parties do not engage in competing activities[60]. - The company will ensure that any related transactions with its controlling shareholders are conducted at market prices and in compliance with relevant laws and regulations[62]. - The company has committed to integrating real estate development and hotel business assets into the listed company if certain conditions are met, including the elimination of legal risks and the establishment of development conditions within three years[66]. - The company has approved a proposal for external guarantees during the 2022 annual general meeting[50].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 807,871,720.43, a decrease of 9.11% compared to the same period last year[5] - The net profit attributable to shareholders of the listed company was a loss of CNY 375,463,543.48, an increase in loss of 21.42% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 356,337,079.57, which is a 38.34% increase in loss compared to the previous year[5] - The company reported a net loss of CNY 375.46 million for Q1 2022, compared to a net loss of CNY 267.33 million in Q1 2021[22] - The company reported a total comprehensive loss of CNY 430.56 million in Q1 2022, compared to a loss of CNY 607.91 million in Q1 2021[24] - The net profit for Q1 2022 was a loss of CNY 179,585,649.37, slightly worse than the loss of CNY 173,167,095.70 in Q1 2021[34] Cash Flow - The net cash flow from operating activities was a negative CNY 62,693,531.05, representing a decline of 105.99% year-on-year[5] - The company experienced a net cash outflow from operating activities of CNY 62.69 million in Q1 2022, a significant decline from a net inflow of CNY 1.05 billion in Q1 2021[27] - The net cash flow from operating activities for Q1 2022 was -12,836,784.87, a significant decline compared to 349,015,539.52 in Q1 2021[36] - The net cash flow from investing activities improved to 461,820,324.17 in Q1 2022, compared to -132,118,110.54 in Q1 2021[36] - The net cash flow from financing activities was -554,718,469.74 in Q1 2022, down from 102,338,359.36 in Q1 2021[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 40,057,649,785.22, a decrease of 0.41% from the end of the previous year[6] - Current liabilities totaled CNY 27.12 billion, a decrease from CNY 27.59 billion at the end of 2021[20] - The total assets as of March 31, 2022, were CNY 26,717,433,419.70, down from CNY 26,839,927,827.83 at the end of 2021[32] - The total liabilities as of March 31, 2022, were CNY 24,191,967,134.07, compared to CNY 24,134,875,892.83 at the end of 2021[32] Expenses - Sales expenses decreased by 42.49% due to a reduction in the number of companies included in the consolidation scope[9] - Management expenses decreased by 42.58% as a result of fewer companies being consolidated[9] - Financial expenses decreased by 52.76% due to a reduction in the number of companies included in the consolidation scope[9] - The company incurred financial expenses of CNY 404.08 million in Q1 2022, a decrease from CNY 855.45 million in Q1 2021[23] - The company's financial expenses for Q1 2022 were CNY 138,289,170.02, down from CNY 203,220,987.92 in Q1 2021[33] Revenue and Sales - Total operating revenue for Q1 2022 was CNY 807.87 million, a decrease of 9.1% compared to CNY 888.82 million in Q1 2021[22] - Total operating costs for Q1 2022 were CNY 1.14 billion, down 30.5% from CNY 1.63 billion in Q1 2021[22] - Total revenue from sales of goods and services in Q1 2022 was CNY 703.59 million, down 23.7% from CNY 921.89 million in Q1 2021[26] Real Estate and Investments - The rental income for the first quarter was CNY 172.86 million, with a total rental area of 716,193.95 square meters and an overall rental rate of 81.42%[15] - The signed area for real estate in Q1 2022 was 23,025.09 square meters, representing a year-on-year growth of 10%, while the signed amount was CNY 239.73 million, down 2% year-on-year[16] - The company has no new real estate reserves or construction areas in Q1 2022[16] - Long-term borrowings increased to CNY 7.91 billion from CNY 7.21 billion at the end of 2021[20] - The company's long-term equity investments increased slightly to CNY 6,973,055,646.17 as of March 31, 2022, from CNY 6,965,177,611.09 at the end of 2021[31] Shareholder Equity - The equity attributable to shareholders of the listed company was CNY 329,863,749.50, down 53.24% from the end of the previous year[6] - The company's retained earnings showed a deficit of CNY 2,682,632,896.48 as of March 31, 2022, worsening from a deficit of CNY 2,503,047,247.11 at the end of 2021[32] Earnings Per Share - Basic and diluted earnings per share for Q1 2022 were both CNY -0.23, an improvement from CNY -0.30 in Q1 2021[24]

Financial Performance - The net profit attributable to shareholders for 2021 was -¥506,795,429.22, indicating a loss for the year[5]. - The company's operating revenue for 2021 was CNY 6,047,321,260.16, representing a 37.65% increase compared to 2020[20]. - The net profit attributable to shareholders was a loss of CNY 506,795,429.22, an improvement of 80.40% from the previous year's loss[20]. - The net cash flow from operating activities reached CNY 27,377,429,885.11, a significant increase of 4,807.15% compared to 2020[20]. - The total assets decreased by 49.93% to CNY 40,223,042,911.73 at the end of 2021 compared to the end of 2020[20]. - The basic earnings per share improved to -0.32 CNY, an 80.37% increase from -1.63 CNY in 2020[21]. - The company reported a quarterly operating revenue of CNY 2,829,080,171.54 in Q4 2021, contributing to a total annual revenue of CNY 6,047,321,260.16[23]. - Non-recurring gains and losses amounted to CNY 1,761,394,837.83 in 2021, compared to CNY 810,230,329.09 in 2020[25]. - The investment property value decreased by CNY 7,070,956,234.84, resulting in a loss of CNY 723,157,145.64 for the year[27]. - The company experienced a significant reduction in net assets, with a net asset value of CNY 705,379,026.90 at the end of 2021, compared to a negative value in 2020[20]. Strategic Focus and Development - The company is focused on future development strategies, although specific forward-looking statements are not commitments to investors[6]. - The company plans to transition from real estate development to light asset operations, leveraging existing resources and its "commercial management + property management" model[39]. - The company aims to establish a "city operation service" platform to enhance property service quality and expand management scale[32]. - The company is committed to increasing the supply of affordable housing as part of its strategy to address mismatches in housing supply and demand[78]. - The company plans to shift its focus from traditional real estate development to commercial operations and property management, which are expected to provide stable cash flow and growth opportunities[79]. - The company anticipates a significant reduction in revenue scale as it transitions to a light asset model, emphasizing the creation and accumulation of intangible assets[81]. - The company will enhance its core competitiveness and increase revenue scale through "business improvement, internal integration, and external expansion" strategies in 2022[81]. Governance and Compliance - The company emphasizes the importance of governance and compliance, adhering to relevant laws and regulations to ensure healthy and sustainable development[83]. - The company has held 15 board meetings and 12 supervisory meetings during the reporting period, ensuring effective governance and oversight[85]. - The company actively engages with investors through various communication channels to enhance understanding and trust, protecting the rights of minority shareholders[87]. - The company has established a strong governance structure with independent directors contributing to oversight[99]. - The company is committed to enhancing its internal control and risk management systems[99]. - The company approved the proposal for 2021 investment matters and financing matters during the first extraordinary general meeting held on January 20, 2021[89]. Legal and Regulatory Matters - The company is involved in multiple lawsuits related to property service contract disputes, with claims totaling approximately ¥32,092.00, ¥16,984.90, and ¥16,984.85 among others[150]. - The company has reached settlements in several cases, with amounts paid by defendants including ¥14,659.30 and ¥18,246.30[150]. - The company is currently awaiting court decisions in several cases, with no judgments made yet in claims totaling ¥14,996.00 and ¥14,624.00[150]. - The company has initiated legal actions against multiple defendants, with claims ranging from ¥11,421.00 to ¥21,273.00[150]. - The company is actively managing its legal disputes, with some cases being withdrawn or settled amicably[150]. - The company has a total of 14 ongoing lawsuits, reflecting its engagement in property service contract enforcement[150]. - The company is involved in multiple ongoing lawsuits, including a notable case with a claim amount of 1,000,000.00, which is pending judgment[167]. - The company is currently facing multiple legal disputes that may impact its financial position and operational focus[171]. Asset Management and Restructuring - The company successfully completed the transfer of 70% equity in Cangnan Yintai Real Estate Co., Ltd. and 90% equity in Beijing Fangkai, among others, as part of its major asset restructuring[30]. - The company plans to publicly transfer 65% equity of Xishuangbanna Yunyu Real Estate Co., Ltd. during the sixth extraordinary general meeting on October 11, 2021[90]. - The company has established a mutual guarantee relationship with its controlling shareholder for 2021[89]. - The company is set to provide loans and guarantees to its subsidiaries, reflecting a focus on internal financial support[101]. - The company is exploring new strategies for market expansion and potential mergers and acquisitions[103]. - The company has committed to integrating assets related to real estate development and hotel operations into the listed company if substantial competition arises within three years[136]. Market Conditions and Challenges - The company faced significant challenges in the real estate market in 2021, with new construction area and sales area declining by 15.5% and 11.4% respectively compared to 2020[61]. - The overall confidence in the real estate sector was severely impacted, leading to a noticeable reduction in growth momentum due to tightened financing and regulatory measures[61]. - The company is actively involved in poverty alleviation and rural revitalization efforts in Yunnan Province, monitoring poverty households and promoting local governance[130]. - The company is currently negotiating a settlement regarding the aforementioned disputes[166]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 2,319, with 106 in the parent company and 2,213 in subsidiaries[115]. - The company has a total of 513 employees in real estate development, 773 in commercial management and operation, and 486 in property management services[115]. - The company has maintained a consistent leadership structure with no changes in key positions during the reporting period[93]. - The management team includes experienced professionals with backgrounds in various sectors, enhancing the company's operational capabilities[96].

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,523,844,722.29, representing a year-on-year increase of 74.54%[5] - The net profit attributable to shareholders was a loss of ¥255,993,002.37, with a year-to-date net profit of ¥138,617,488.09, showing a significant decline[5] - Total operating revenue for the first three quarters of 2021 was CNY 3,218,241,088.62, a decrease of 13.1% compared to CNY 3,704,988,903.25 in the same period of 2020[40] - Net profit for the first three quarters of 2021 was a loss of CNY 200,610,002.58, an improvement from a loss of CNY 1,309,067,763.99 in the same period of 2020[41] - The basic earnings per share for Q3 2021 was CNY 0.09, compared to a loss of CNY 0.66 per share in Q3 2020[42] Cash Flow - The net cash flow from operating activities for the year-to-date period reached ¥25,621,542,682.90, an increase of 1,732.33% compared to the previous year[5] - The cash inflow from operating activities in the first three quarters of 2021 was CNY 29,028,508,802.44, compared to CNY 6,472,763,443.00 in the same period of 2020, indicating a significant increase[44] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 25,621,542,682.90, a substantial rise from CNY 1,398,306,662.05 in 2020[44] - The total cash inflow from investment activities in the first three quarters of 2021 was CNY 3,391,122,627.10, compared to CNY 3,191,163,309.13 in 2020, showing a slight increase[45] - The net cash flow from financing activities for the first three quarters of 2021 was -CNY 29,549,685,929.74, compared to -CNY 5,047,531,065.76 in 2020, indicating a worsening situation[45] Assets and Liabilities - Total assets at the end of the reporting period were ¥45,437,308,332.67, a decrease of 43.44% from the end of the previous year[6] - The company's total assets decreased to CNY 45,437,308,332.67 in Q3 2021 from CNY 80,336,922,200.91 in Q3 2020, representing a decline of 43.4%[39] - The total liabilities were CNY 20,000,000,000.00, indicating a significant financial obligation[37] - Total liabilities decreased to CNY 42,909,485,276.73 in Q3 2021 from CNY 78,474,573,219.77 in Q3 2020, a reduction of 45.3%[39] - The company's total equity stood at CNY 1.86 billion, with a negative retained earnings of CNY 3.76 billion[49] Shareholder Information - The total number of common shareholders at the end of the reporting period was 44,255[12] - The largest shareholder, Yunnan Province Kanglv Holding Group Co., Ltd., holds 640,150,575 shares, accounting for 39.87% of total shares[12] Construction and Development - In Q3 2021, the new construction area was 307,889.84 square meters, representing a year-on-year growth of 75.15%[14] - The completed area in Q3 2021 was 119,872.63 square meters, with a significant year-on-year increase of 1453.10%[14] - The total signed area in Q3 2021 was 36,750 square meters, down 47% compared to Q3 2020[14] - The total signed amount in Q3 2021 was 50,798,000 yuan, a decrease of 51% year-on-year[14] Legal Disputes - The company is facing a lawsuit with a claim amounting to 233,016,140.83 yuan for a debt transfer dispute[17] - The company reported a rental contract dispute involving a claim for overdue rent and service fees amounting to CNY 1,365,417.50[21] - The company is actively managing several legal disputes, indicating a potential impact on its operational focus and financial performance[24] - The company has a pending case involving CNY 2,424,270.03 related to a housing sale contract dispute, with the first hearing yet to be held[23] - The company is involved in multiple rental contract disputes, with amounts ranging from CNY 71,828.86 to CNY 443,150.03, all pending court decisions[23] Investment and Income - Investment income increased by 45.01% due to gains from the transfer of subsidiaries[10] - The company reported an investment income of CNY 1,787,207,853.22 for the first three quarters of 2021, compared to CNY 1,232,479,889.47 in the same period of 2020[41] Operational Efficiency - The company experienced a 40.24% reduction in management expenses attributed to a decrease in personnel and salary cuts[10] - The company reported a significant decrease in accounts payable by 36.20% as a result of project transfers[9]

Financial Performance - The basic earnings per share for the first half of 2021 is CNY 0.25, compared to a loss of CNY 0.49 in the same period last year[19]. - The diluted earnings per share for the first half of 2021 is CNY 0.25, showing an improvement from a loss of CNY 0.49 year-on-year[19]. - The weighted average return on net assets is 218.68% for the first half of 2021, a significant recovery from -42.72% in the previous year[19]. - The weighted average return on net assets, after deducting non-recurring gains and losses, decreased to -648.76%, down 592.48 percentage points from -56.28% in the same period last year[19]. - The basic earnings per share after deducting non-recurring gains and losses is -CNY 0.73, compared to -CNY 0.64 in the previous year, reflecting a 13.92% decline[19]. - The company reported a revenue of CNY 1.69 billion for the first half of 2021, a decrease of 40.17% compared to the same period last year[25]. - The net profit attributable to shareholders was CNY 394.61 million, marking a turnaround from a loss of CNY 762.74 million in the previous year[25]. - The net cash flow from operating activities increased significantly to CNY 20.83 billion, up 2,530.83% year-on-year[25]. - The company's operating revenue for the current period is CNY 1,694,396,366.33, a decrease of 40.17% compared to CNY 2,831,930,711.90 in the same period last year[30]. - The company reported a net profit of -7,102.31 million yuan for Yunnan City Investment Longjiang Real Estate Development Co., Ltd.[42]. - The company reported a net profit of -5,653.67 million yuan for Ningbo Yintai Real Estate Co., Ltd.[42]. - The company reported a net profit of -117,069.11 million RMB for the first half of 2021, a decrease of 15.84% compared to -101,063.21 million RMB in the same period last year, primarily due to increased financial expenses and inventory impairment provisions[106]. Asset Management - The total assets decreased by 37.15% to CNY 50.49 billion compared to the end of the previous year[25]. - The company completed the transfer of equity for 11 subsidiaries, aiming to optimize its asset structure and reduce interest-bearing liabilities[26]. - The total assets at the end of the reporting period amounted to CNY 5,057,549,115.55 in other receivables, reflecting a 105.50% increase from CNY 2,461,035,730.36 in the previous year[35]. - The company's cash and cash equivalents decreased by 41.36% to CNY 759,984,008.89 from CNY 1,296,112,975.64 year-on-year[35]. - The company has pledged assets with a total book value of CNY 13.789 billion as collateral for loans from financial institutions[37]. - The company completed the transfer of 100% equity in Kunming City Guandu District Urban Village Reconstruction Real Estate Co., Ltd. for a valuation of 6.85 million yuan[39]. - The company completed the transfer of 70% equity in Cangnan Yintai Real Estate Co., Ltd. for 52,189.03 million yuan[39]. - The company has completed the transfer of 70% equity in Hangzhou Yuntai Shopping Center Co., Ltd. for 107,231.26 million yuan[39]. - The company has completed the transfer of equity stakes in 11 subsidiaries as part of a significant asset sale[83]. - The company has agreed to sell equity stakes in 16 subsidiaries, with 11 equity transfers already completed and registered[84]. Strategic Transformation - The company plans to accelerate the development of its property management and commercial management platforms to support its strategic transformation[26]. - The company aims to enhance its cash management capabilities and actively pursue debt collection to improve financial stability[26]. - The company is focusing on expanding its presence in the cultural tourism and health service sectors as part of its strategic transformation[24]. - The company is actively expanding into new fields such as urban services and property management, aiming to integrate urban service platforms and internal property resources[28]. - The company plans to optimize its organization and personnel, focusing on cultivating and reserving operational professionals under the new strategy[28]. - The company is focusing on strategic transformation by divesting projects that do not align with its core business direction[67]. - The company is exploring potential mergers and acquisitions to enhance its market position and operational efficiency[131]. Legal and Compliance Issues - The report has not been audited, and the management has confirmed the accuracy and completeness of the financial report[4]. - The company has detailed potential risks in the report, which investors should be aware of[6]. - The report indicates that there are no violations in decision-making procedures for providing guarantees[6]. - The company is involved in significant litigation matters, including a lawsuit from Kunming Wuhua District People's Hospital with a claim amount of RMB 27.91 million[70]. - The company has ongoing arbitration related to a dispute with Haikou Municipal Government, with a claim amount of approximately RMB 774.85 million[70]. - The company has initiated enforcement actions in multiple cases, including a loan dispute involving RMB 597.42 million against its subsidiary, Yunnan Artist Garden Real Estate Development Co., Ltd.[71]. - The company has faced multiple loan contract disputes, with total claims amounting to RMB 425.40 million in various cases[71]. - The company has disclosed its legal challenges in its interim reports, indicating transparency in its financial disclosures[70]. - The company continues to monitor and manage its legal risks associated with ongoing litigation and arbitration[71]. Financial Stability and Debt Management - The company aims to increase cash flow and reduce interest expenses through various measures, including project transfers and debt collection[68]. - The company has committed to not engaging in land development and operating real estate development businesses, focusing instead on policy-driven construction projects[66]. - The company is implementing internal management enhancements to improve operational efficiency and competitiveness[68]. - The company acknowledges facing significant short-term performance and debt pressures but maintains sustainable operational capabilities[69]. - The company has reported a significant increase in investment income, reaching CNY 1,654,713,161.50 in the first half of 2021, compared to CNY 394,654,289.10 in the first half of 2020[118]. - The company has issued bonds with a total scale of 118,000 million RMB for "18 滇投 01" and 218,000 million RMB for "18 滇城 01", all of which have been utilized according to the fundraising plan[103]. - The company maintained a loan repayment rate of 100% and an interest payment rate of 100% during the reporting period[106]. Shareholder and Capital Structure - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for this reporting period[5]. - The total number of ordinary shareholders at the end of the reporting period was 46,355[89]. - The largest shareholder, Yunnan Kanglv Holdings Group Co., Ltd., held 640,150,575 shares, representing 39.87% of the total shares[91]. - The company reported a shareholding structure with no changes in total shares or capital structure during the reporting period[88]. - The company has not disclosed any significant changes in shareholding or financial indicators affecting earnings per share or net assets per share[89]. - The company reported a comprehensive income loss of CNY 906,766,373.02 for the first half of 2021[137]. - The total owner's equity at the end of the reporting period is CNY 2,165,577,806.84, showing a decrease of CNY 326,170,126.49 compared to the beginning of the year[136]. Inventory and Asset Valuation - The company categorizes inventory primarily into real estate development products, which include in-progress and completed projects, with costs including land transfer fees and construction expenses[199]. - Inventory is initially measured at cost, including all related expenses, and is recognized using specific identification for real estate projects and weighted average method for other inventory[200].

Financial Performance - The net profit attributable to shareholders for 2020 was -2,586,319,200.13 yuan, indicating a loss for the year [3]. - The company's operating revenue for 2020 was approximately ¥4.39 billion, a decrease of 29.69% compared to ¥6.25 billion in 2019 [23]. - The net profit attributable to shareholders was approximately -¥2.59 billion in 2020, improving from -¥2.78 billion in 2019 [23]. - The basic earnings per share for 2020 was -¥1.63, a 6.86% improvement from -¥1.75 in 2019 [24]. - The weighted average return on equity decreased to -286.30% in 2020, down 209.89 percentage points from -76.41% in 2019 [24]. - The net cash flow from operating activities was ¥557.91 million in 2020, a significant recovery from -¥2.74 billion in 2019 [23]. - Total assets at the end of 2020 were approximately ¥80.34 billion, a decrease of 9.61% from ¥88.88 billion at the end of 2019 [23]. - The company reported non-recurring gains of approximately ¥810.23 million in 2020, compared to -¥588.50 million in 2019 [29]. - The company's financial expenses increased by 33.81% to CNY 2.998 billion due to high-interest debt levels [44]. - The total revenue for the company was CNY 3,906,614,725.20, a decrease of 30.26% compared to the previous year, while the gross profit margin increased by 14.96 percentage points to 51.73% [47]. Operational Highlights - The company managed 13 projects with a total area of 1.98 million square meters, achieving an average occupancy rate of 85% [39]. - The company implemented a rent reduction plan totaling CNY 133 million, benefiting 2,365 market entities [40]. - The company is focusing on asset restructuring, with the transfer of equity in 11 companies nearing completion [38]. - The company plans to enhance its competitive advantage by integrating resources in cultural tourism and health services [35]. - The company achieved a total sales amount of 3,242.51 million RMB, with a sales area of 224,899.22 square meters during the reporting period [70]. Legal and Compliance Issues - The audit report issued by the accounting firm includes an emphasis on matters related to significant uncertainties regarding the company's ability to continue as a going concern [7]. - The company has ongoing litigation matters involving a total claim amount of approximately 597.42 million RMB related to a loan contract dispute [114]. - The company has a total of 11 ongoing lawsuits, with amounts ranging from ¥221,762.00 to ¥63,051,388.00 [120]. - The company has faced significant uncertainties regarding its financial stability, which have been disclosed adequately in the reports [109]. - The company has ongoing legal disputes involving a total of approximately ¥9,567,294.00 related to real estate sales contracts, with enforcement already requested [123]. Related Party Transactions - The company reported a total of 667,070,000 RMB in related party transactions for the year 2020, with actual amounts recognized by December 31, 2020, totaling 81,845,930 RMB [138]. - The company engaged in significant sales transactions with Yunnan Province Kanglv Holding Group Co., Ltd., amounting to 1,091,190 RMB for services provided [137]. - The total amount of guarantees provided during the reporting period (excluding guarantees to subsidiaries) is 59,765.00 million [145]. - The total balance of guarantees to subsidiaries at the end of the reporting period is 1,295,833.65 million [145]. Corporate Governance - All board members attended the board meeting, ensuring accountability for the report's accuracy [7]. - The company has a commitment to transparency, with all financial reports guaranteed to be true, accurate, and complete by the management [7]. - The board of directors consists of 7 members, including 3 independent directors, and held 15 meetings during the reporting period, ensuring effective governance and decision-making [195]. - The supervisory board, comprising 3 members, conducted 12 meetings in 2020, focusing on financial oversight and compliance with legal regulations [196]. - The company emphasizes investor relations management, utilizing various communication channels to engage with investors and address their concerns [197]. Future Outlook and Strategy - The company plans to sell equity stakes in 20 subsidiaries, with total assets involved amounting to approximately 19.565 billion RMB, aiming to optimize financial structure and enhance profitability [90]. - The company is focusing on expanding its property management services as a new profit growth point amid the transition to a stock housing era [85]. - The company plans to invest 100 million yuan in research and development for new technologies over the next two years [180]. - The company aims to increase its workforce by 10% to support growth initiatives and new projects [180]. - The company is actively pursuing resource integration and strategic positioning in cultural tourism and health services to align with the "14th Five-Year Plan" of Yunnan Province [87].

Financial Performance - Total assets decreased by 2.47% to CNY 78.36 billion compared to the end of the previous year[6]. - Net assets attributable to shareholders decreased by 126.50% to -CNY 855.59 million compared to the end of the previous year[6]. - Revenue decreased by 42.10% to CNY 888.82 million compared to the same period last year[6]. - Net profit attributable to shareholders decreased by 300.70% to -CNY 477.82 million compared to the same period last year[6]. - Basic earnings per share decreased by 275.00% to -CNY 0.30 compared to the same period last year[6]. - The company reported a net loss of CNY 4,238,351,796.89, compared to a loss of CNY 3,760,531,440.00 in the previous period, indicating an increase in losses[24]. - Net loss for Q1 2021 was ¥607.89 million, compared to a net loss of ¥230.55 million in Q1 2020, representing an increase in loss of 163.5%[30]. - The company reported a comprehensive loss of ¥607.91 million in Q1 2021, compared to a comprehensive loss of ¥230.55 million in Q1 2020[31]. Cash Flow - Operating cash flow increased by 460.95% to CNY 1.05 billion compared to the same period last year[6]. - The net cash flow from operating activities increased significantly to CNY 1,046,330,520.61 in Q1 2021, compared to CNY 186,526,902.28 in Q1 2020, marking a growth of 461.36%[35]. - Cash inflow from operating activities was CNY 2,378,129,958.73, a decrease of 6.04% compared to CNY 2,531,885,800.77 in Q1 2020[35]. - The cash inflow from sales of goods and services received was CNY 921,885,346.72 in Q1 2021, an increase of 8.74% from CNY 847,490,954.38 in Q1 2020[35]. - The net cash flow from financing activities was negative at CNY -1,293,561,229.42 in Q1 2021, compared to CNY -1,090,873,223.02 in Q1 2020, indicating a worsening of 18.54%[36]. Assets and Liabilities - Total liabilities were CNY 77,102,664,586.28, down from CNY 78,474,573,219.77, indicating a reduction of about 1.75%[24]. - Current liabilities totaled CNY 65,625,393,433.65, slightly decreased from CNY 66,108,131,264.94, representing a decline of approximately 0.73%[23]. - Non-current liabilities were CNY 11,477,271,152.63, down from CNY 12,366,441,954.83, showing a decrease of around 7.19%[24]. - The company's total equity was CNY 1,253,111,600.01, a decrease from CNY 1,862,348,981.14, reflecting a decline of approximately 32.6%[24]. - Total current assets amounted to CNY 51,025,136,593.64 as of December 31, 2020[40]. - Total non-current assets reached CNY 29,311,785,607.27, resulting in total assets of CNY 80,336,922,200.91[41]. Shareholder Information - The total number of shareholders reached 54,204 by the end of the reporting period[11]. - The largest shareholder, Yunnan Kanglv Holding Group, holds 39.87% of the shares[11]. Operational Highlights - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - The total signed area for new sales in the first quarter was 20,487 square meters, a decrease of 42% year-over-year[18]. - The company has no new real estate reserves or new construction in the first quarter of 2021[14][15]. - The company signed a compensation agreement for the recovery of land use rights, receiving approximately ¥3.1 billion in compensation[17]. Income and Expenses - Total operating revenue for Q1 2021 was ¥888.82 million, a decrease of 42.2% from ¥1,535.03 million in Q1 2020[29]. - Total operating costs for Q1 2021 were ¥1,633.70 million, down 22.6% from ¥2,111.01 million in Q1 2020[29]. - Financial expenses for Q1 2021 were ¥855.45 million, an increase of 26.4% from ¥677.30 million in Q1 2020[29]. - The company recorded a tax expense of -¥9.33 million in Q1 2021, compared to a tax expense of ¥118.72 million in Q1 2020[30]. - Other income for Q1 2021 was ¥10.09 million, up from ¥2.33 million in Q1 2020[29]. Inventory and Receivables - The cost of goods sold decreased by 53.22% to ¥495.45 million, attributed to a decline in real estate sales revenue[13]. - Other receivables increased by 17.05% to ¥2.88 billion, primarily due to the increase in government land compensation receivables[13]. - Inventory decreased by 5.57% to ¥43.45 billion, resulting from government land recovery[13]. - The company reported a 73.62% decline in investment income, down to ¥129.55 million, due to reduced equity transfer gains[13].