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].

Financial Performance - Operating revenue for the first nine months decreased by 23.64% year-on-year, totaling ¥3,704,988,903.25[7] - Net profit attributable to shareholders was a loss of ¥1,038,624,791.53, a slight improvement of 2.28% compared to the previous year[7] - The company reported a net profit loss of ¥1,949,234,298.04 after deducting non-recurring gains and losses, a decline of 87.59% year-on-year[7] - Total operating revenue for Q3 2020 was ¥873,058,191.35, a decrease of 70.5% compared to ¥2,967,042,113.95 in Q3 2019[29] - Net loss for Q3 2020 was ¥402,499,443.89, compared to a net loss of ¥335,741,205.58 in Q3 2019, representing a 19.8% increase in losses[30] - The total comprehensive loss for Q3 2020 was -¥402,780,524.77, compared to -¥335,548,158.14 in Q3 2019[31] Assets and Liabilities - Total assets decreased by 9.41% from the end of the previous year, amounting to ¥80,520,655,575.14[7] - The company's cash and cash equivalents decreased by 34.08% to ¥1,325,144,959.90 compared to the previous year, primarily due to a decline in sales collections and increased repayments to financial institutions[14] - Total liabilities decreased to CNY 76.92 billion from CNY 83.32 billion, indicating a reduction of about 7.7%[22] - The total assets as of the third quarter of 2020 amounted to 88,880,685,747.33 RMB, remaining stable compared to previous periods[43] - Total liabilities amounted to ¥83,324,667,747.78, with current liabilities at ¥58,622,901,936.04 and non-current liabilities at ¥24,701,765,811.74[44] Shareholder Information - The total number of shareholders reached 53,408, with the largest shareholder holding 39.87% of the shares[11] - Shareholders' equity totaled ¥5,556,017,999.55, including ¥2,719,751,398.46 attributable to the parent company and ¥2,836,266,601.09 for minority interests[44] Cash Flow - Net cash flow from operating activities increased by 247.20%, reaching ¥1,398,306,662.05 for the first nine months[7] - The cash flow from investment activities in the third quarter of 2020 was 1,680,922,658.94 RMB, a significant improvement from -2,010,198,025.66 RMB in the same quarter of 2019[40] - The total cash inflow from investment activities in the first three quarters of 2020 was CNY 3,191,163,309.13, compared to CNY 653,776,439.75 in the same period of 2019[37] Inventory and Construction - Inventory decreased by 10.01% to ¥46,734,068,719.34, attributed to project transfers[14] - The total area of new construction started in Q3 2020 was 175,788.88 square meters, a decrease of 61.64% compared to the same period in 2019[15] - The total area completed in Q3 2020 was 7,718.29 square meters, down 43.78% year-on-year[15] Investment Income - The company reported a significant increase in investment income, reaching ¥1,232,479,889.47, up 8,926.43% year-on-year, due to recognized gains from equity transfers[14] - The company reported an investment income of ¥837,825,600.37 in Q3 2020, significantly higher than ¥97,176,845.85 in Q3 2019[29] Debt and Financial Obligations - The company reported overdue penalty fees of CNY 86.57 million due to land dispute issues[18] - The company reported a total of ¥2,867,864,986.29 in bonds payable, indicating a significant debt obligation[44] - The company has a deferred income tax liability of ¥1,811,246,054.74, reflecting future tax obligations[44]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,831,930,711.90, representing a 50.23% increase compared to CNY 1,885,110,208.99 in the same period last year[18]. - The net profit attributable to shareholders was a loss of CNY 762,743,252.65, which is a slight improvement of 2.83% from a loss of CNY 784,996,623.38 in the previous year[18]. - The cash flow from operating activities showed a significant recovery, amounting to CNY 791,671,079.69, compared to a negative cash flow of CNY -1,240,145,801.70 in the same period last year, marking a 163.84% increase[19]. - The basic earnings per share for the first half of 2020 was -CNY 0.49, a slight improvement of 2.00% from -CNY 0.50 in the same period last year[20]. - The weighted average return on net assets was -42.72%, a decrease of 27.42 percentage points compared to -15.30% in the previous year[20]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 1,010,632,121.60, which is a 25.56% increase in loss compared to CNY -804,877,859.74 in the previous year[18]. - The company reported a gross profit margin of 39.34% for the first half of 2020, down from 47.32% in the same period last year, indicating a decrease of 7.98 percentage points[36]. - The company reported a net loss of ¥1.93 billion for the period, compared to a loss of ¥1.15 billion in the previous year, indicating a worsening of approximately 68.7%[134]. - The company reported a net loss of ¥431,986,449.61 for the first half of 2020, compared to a net loss of ¥177,157,873.05 in the same period of 2019, indicating a worsening financial performance[138]. Asset and Liability Management - The total assets decreased by 6.87% to CNY 82,773,513,442.62 from CNY 88,880,685,747.33 at the end of the previous year[19]. - The company reported a significant decrease in long-term receivables, which fell by 53.11% to CNY 188,843.53 from CNY 402,698.54 in the previous year, due to the recovery of loans to associated enterprises[40]. - The total liabilities decreased to CNY 582,499.10 in accounts payable, down 31.61% from CNY 851,683.38 in the previous year, attributed to project transfers[40]. - The total equity attributable to shareholders decreased to ¥1.94 billion from ¥2.72 billion, a decline of about 28.7%[134]. - The company's asset-liability ratio increased to 94.52% at the end of the reporting period, up from 93.75% at the end of the previous year, reflecting a 0.82% increase[124]. Operational Efficiency and Cost Management - Operating costs increased by 69.45%, reaching 1.79 billion RMB compared to 1.06 billion RMB in the previous year[34]. - Management expenses decreased by 23.82%, amounting to 302.20 million RMB compared to 396.72 million RMB in the previous year[34]. - The company established special working groups to enhance cash flow recovery and improve operational efficiency[30]. - The company is focusing on strategic adjustments to enhance its sustainable operating and profitability capabilities[26]. - The company is implementing a three-system reform to improve management efficiency and organizational design[31]. Asset Restructuring and Strategic Initiatives - The company initiated a major asset restructuring, planning to transfer equity stakes in 18 subsidiaries to the group[30]. - The company reported a significant asset sale plan involving the divestiture of 18 subsidiaries, including Tianjin Yinrun, to its controlling shareholder, with the board approving the proposal on April 29, 2020[97]. - The company has successfully completed the transfer of 51% equity in Yunshang Development (Zibo) Co., Ltd., with the registration procedures finalized[100]. - The company has also completed the transfer of 80% equity in Xishuangbanna Hangtou Investment Co., Ltd., with the equity change registration completed[101]. Legal and Compliance Issues - The company is involved in a significant arbitration case with the Haikou Municipal Government regarding the Haikou International Convention and Exhibition Center project, with a disputed amount of approximately ¥774.85 million[70]. - The company is facing multiple lawsuits from Yunnan Cultural Industry Investment Holding Group, with a total involved amount of approximately ¥425.40 million[70]. - The company has initiated a lawsuit against Yunnan Baifeng Investment Group for loan repayment, claiming a principal amount of ¥296.92 million and interest of approximately ¥130.49 million[72]. - The company has reported a significant amount of ongoing litigation, indicating potential financial implications[74]. - The company is actively managing its legal disputes to mitigate financial risks associated with ongoing litigation[74]. Shareholder and Capital Structure - The total number of common shareholders at the end of the reporting period was 48,090[105]. - The largest shareholder, Yunnan Urban Construction Investment Group Co., Ltd., held 640,150,575 shares, accounting for 39.87% of total shares[108]. - The company has not experienced any changes in share capital structure during the reporting period[104]. - The company issued a total of 15 billion RMB in non-public bonds in 2016, with a remaining balance of 8.1 billion RMB as of the reporting period[114]. - The company has a total of RMB 30 billion in non-public corporate bonds "16 Dian Investment 01" and "16 Dian Investment 03," all of which have been fully utilized according to the fundraising plan[119]. Community Engagement and Social Responsibility - The company has actively participated in poverty alleviation efforts, investing approximately 80,000 RMB in community projects[88]. - The company organized activities to support impoverished households, including visits and donations of educational materials[88]. - The company has implemented a plan to support poverty alleviation in accordance with government directives since 2015[87]. - The company has established a quarterly reporting mechanism for poverty alleviation work, ensuring accountability and progress tracking[93]. Future Outlook and Strategic Focus - The company is committed to enhancing its operational level through debt collection and asset disposal measures[49]. - The company is exploring asset injection proposals for its subsidiaries, contingent on the fulfillment of specific legal and operational criteria[63]. - The company has not reported any new product developments or market expansion strategies in the provided content[70]. - The company did not provide specific future guidance or outlook for the upcoming periods[158].

Financial Performance - Operating revenue increased by 76.46% to CNY 1.54 billion compared to the same period last year[6] - Net profit attributable to shareholders improved by 68.23% to a loss of CNY 119.25 million compared to the same period last year[6] - Basic earnings per share improved by 66.67% to a loss of CNY 0.08 per share compared to the same period last year[6] - The company reported a net loss of ¥1.27 billion, compared to a loss of ¥1.15 billion in the previous period[24] - Net profit for Q1 2020 was a loss of CNY 230,554,791.11, an improvement from a loss of CNY 418,398,872.74 in Q1 2019[32] - The company reported an operating profit of CNY -82,316,085.97 for Q1 2020, compared to a loss of CNY 515,858,796.08 in Q1 2019[32] - The company reported a total comprehensive loss of CNY 230,554,791.11 for Q1 2020, compared to a loss of CNY 418,398,872.74 in Q1 2019[33] Cash Flow - Net cash flow from operating activities was CNY 186.53 million, a significant recovery from a negative cash flow of CNY 762.20 million in the previous year[6] - The cash flow from operating activities improved to CNY 186,526,902.28, compared to a negative cash flow of CNY 762,202,671.92 in the previous year[12] - In Q1 2020, the company reported cash inflows from operating activities of CNY 2,531,885,800.77, an increase of 12.8% compared to CNY 2,245,376,820.99 in Q1 2019[36] - The net cash flow from operating activities was CNY 186,526,902.28, a significant improvement from a net outflow of CNY -762,202,671.92 in the same period last year[37] - Cash outflows from operating activities totaled CNY 2,345,358,898.49, down 22% from CNY 3,007,579,492.91 in Q1 2019[37] - The company experienced a net cash outflow from financing activities of CNY -1,090,873,223.02, compared to a net inflow of CNY 231,688,993.78 in Q1 2019[37] - Total cash and cash equivalents decreased by CNY 377,506,402.23 in Q1 2020, compared to a decrease of CNY 68,754,246.10 in Q1 2019[40] Assets and Liabilities - Total assets decreased by 3.52% to CNY 85.75 billion compared to the end of the previous year[6] - Current liabilities increased from ¥58.62 billion to ¥59.24 billion, an increase of about 1.0%[23] - Total liabilities decreased from ¥83.32 billion to ¥80.47 billion, a reduction of approximately 3.4%[23] - Total current assets decreased from ¥57.86 billion to ¥54.76 billion, a decline of approximately 5.4%[22] - Total liabilities as of Q1 2020 were CNY 44,747,340,156.52, a decrease from CNY 45,472,491,279.45 in the previous year[28] Shareholder Information - The total number of shareholders reached 49,006 by the end of the reporting period[10] - The largest shareholder, Yunnan Urban Construction Investment Group, holds 39.87% of the shares[10] - Shareholders' equity decreased from ¥5.56 billion to ¥5.29 billion, a decline of about 4.9%[24] Inventory and Costs - The total inventory decreased by 8.36% to CNY 47,592,334,416.37 from CNY 51,934,930,874.87 due to changes in the consolidation scope after subsidiary transfers[12] - Operating costs increased by 105.37% to CNY 1,059,141,049.02 from CNY 515,723,677.05 in the same period last year[12] - Total operating costs for Q1 2020 were CNY 2,111,007,388.87, up 55.7% from CNY 1,354,157,562.69 in Q1 2019[31] Investment Activities - The company reported non-recurring gains of CNY 350.70 million, primarily from the disposal of subsidiary equity[9] - Investment income for the quarter was CNY 491,126,874.40, a significant recovery from a loss of CNY 31,317,567.90 in Q1 2019[12] - The company reported cash inflows from investment activities of CNY 92,323,720.69, down from CNY 206,326,978.80 in Q1 2019[37] - The company reported cash outflows from investment activities of CNY 18,172,863.27, a decrease from CNY 106,137,517.45 in the previous year[37] Real Estate and Asset Restructuring - The company has no new real estate reserves or construction projects initiated in Q1 2020[13][14] - The company is in the process of a significant asset restructuring involving the acquisition of partial equity in 17 companies by Yunnan Urban Construction Investment Group[17] - The company completed the transfer of 90% equity in Dongguan Yuntou Real Estate Co., Ltd., which is no longer included in the consolidated financial statements[17] - The company signed a land use rights recovery agreement with the Guandu District government, receiving an initial compensation of CNY 500 million[18]