Financial Performance - The company's operating revenue for the first half of 2021 was ¥484,339,569.39, representing a 46.66% increase compared to ¥330,252,801.75 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was ¥26,562,199.52, a significant recovery from a loss of ¥20,712,754.62 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,495,168.01, improving from a loss of ¥31,239,502.04 in the same period last year[19]. - Basic earnings per share for the first half of 2021 reached CNY 0.0885, compared to a loss of CNY 0.069 in the same period last year[20]. - The weighted average return on net assets improved to 2.11% from -1.66% year-on-year[20]. - The total profit reached 26.50 million yuan, an increase of 56.61 million yuan compared to the previous year[30]. - The net profit attributable to shareholders was 26.56 million yuan, up by 47.28 million yuan year-on-year[30]. - The company reported a significant increase in other income, totaling CNY 1,582,412.02 in the first half of 2021, compared to CNY 447,920.57 in the same period of 2020[107]. - The company reported a total of 24,160,450.05 CNY in claims against Beijing Lvzhu Technology Development Co., which includes principal and penalties[66]. Cash Flow and Assets - The net cash flow from operating activities was -¥132,014,708.72, worsening from -¥93,241,027.78 in the previous year, indicating a 41.58% decline[19]. - The total assets decreased by 5.51%, from ¥3,193,858,588.48 at the end of the previous year to ¥3,017,754,134.01 at the end of the reporting period[19]. - The total assets at the end of the current period were ¥3,017,000,000, with cash and cash equivalents decreasing by 44.79% to ¥193,409,388.01 from ¥350,335,460.24[40]. - The company's short-term borrowings increased by 6.13% to ¥692,000,000.00 from ¥652,000,000.00, while long-term borrowings decreased by 56.54% to ¥61,500,000.00 from ¥141,500,000.00[40]. - The company reported a net decrease in cash and cash equivalents of RMB 36,816,729.33, ending the period with RMB 221,262,470.19[112]. - The cash flow from operating activities was impacted by a total outflow of RMB 41,234,047.65, down from RMB 46,782,757.56 in the previous year[114]. Shareholder and Equity Information - The net assets attributable to shareholders at the end of the reporting period were ¥1,269,509,161.70, a 1.87% increase from ¥1,246,255,602.18 at the end of the previous year[19]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,282,938,028.42, showing a decrease from the previous period[121]. - The total owner's equity at the end of the first half of 2021 is 1,150,374,569.58 CNY, an increase from 1,164,337,499.49 CNY at the end of the first half of 2020, reflecting a decrease of approximately 1.2%[124]. - The largest shareholder, Beijing Airport Economic Development Co., Ltd., holds 49.32% of the shares[88]. - The second-largest shareholder, Guokai Financial Co., Ltd., holds 16.00% of the shares[88]. Business Operations and Strategy - The company operates in the industrial real estate development sector, focusing on investment, development, and management of industrial properties[23]. - The company plans to leverage favorable internal and external development conditions to enhance its operational results and shareholder returns[28]. - The company is actively transitioning towards a more refined and resource-efficient development model in response to industry trends[25]. - The company aims to integrate urban functions with industrial park development, enhancing its role in urban economic growth[26]. - The company is actively expanding its investment business through private equity investments, aiming to supplement its traditional business and accelerate strategic goals[36]. Risks and Compliance - The report includes a risk statement regarding forward-looking statements, cautioning investors about potential risks[6]. - The company faces risks related to policy changes in Beijing's industrial policies and macroeconomic conditions, which may impact its industrial real estate projects[46]. - The company has not reported any significant changes in its environmental information disclosure during the reporting period[59]. - The company has not disclosed any significant environmental penalties or issues during the reporting period[58]. - The company has not engaged in any new or similar business activities that would compete with its main operations, ensuring independent decision-making and compliance with corporate governance[61]. Related Party Transactions - The total amount of related party transactions for the first half of 2021 reached RMB 48,051.1 million, with significant contributions from various services provided[73]. - The largest single related party transaction was with Beijing Guomen Airport Economic and Technological Development Center, amounting to RMB 3,516.22 million, accounting for 9.14% of similar transactions[73]. - The company provided loans totaling RMB 8,500 million to related parties, with a total receivable balance of RMB 112,098.85 million at the end of the reporting period[76]. - The company has ongoing rental agreements, including a lease with Beijing Hangji International Logistics Co., Ltd. for 16,449 square meters, with a total rental amount of RMB 3,701.03 million[80]. Environmental and Social Responsibility - The company is committed to environmental protection and has implemented measures to minimize its ecological impact during construction projects[58]. - The company is actively promoting energy conservation and low-carbon development initiatives[58]. - The company has adhered to national and local environmental regulations in its industrial real estate development and property leasing operations[58]. Corporate Governance - The company experienced changes in its board of directors, with several resignations and new elections for independent directors[51][54]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[56]. - The company continues to uphold its commitments to shareholders and maintain operational integrity[61].

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥321.76 million, a decrease of 14.38% compared to ¥375.82 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company was approximately -¥18.98 million, an improvement from -¥28.56 million in the previous year[19]. - The net cash flow from operating activities was approximately -¥94.42 million, which is a decline of 46.52% compared to -¥64.44 million in the same period last year[19]. - Basic earnings per share for the first half of 2020 were -0.0633 CNY, an improvement from -0.0952 CNY in the same period last year[20]. - Diluted earnings per share for the first half of 2020 were -0.0633 CNY, compared to -0.0952 CNY in the previous year[20]. - The weighted average return on equity decreased to -1.52% from -2.04% year-on-year[20]. - The company reported a net loss of approximately 23.05 million RMB, an improvement from a loss of 34.73 million RMB in the previous year[42]. - The company reported a total revenue of $30 billion for the first half of 2020, a decrease of 5% compared to the same period last year[105]. - The net income attributable to shareholders was $5.01 billion, reflecting a decline of 8% year-over-year[105]. - The total revenue for the first half of 2020 was 18.97 billion, a decrease of 3.9% compared to the previous period[106]. - The net profit attributable to shareholders for the same period was 4.67 billion, reflecting a decrease of 4.2% year-over-year[106]. - The company reported a total revenue of 300,000,000.00 RMB, with a net profit of 30,000,000.00 RMB, reflecting a growth of 7.3% compared to the previous period[122]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥2.72 billion, down 3.41% from ¥2.81 billion at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were approximately ¥1.24 billion, a decrease of 1.49% from ¥1.26 billion at the end of the previous year[19]. - Total assets at the end of the reporting period amounted to 2,710,000,000.00 CNY, with a year-on-year change of -13.18% in cash and cash equivalents[43]. - Accounts receivable increased to 142,254,291.29 CNY, representing 5.25% of total assets, compared to 4.85% in the previous year[43]. - Inventory decreased significantly by 55.01% to 448,355,785.86 CNY, primarily due to the transfer of qualifying inventory to current assets under new revenue standards[43]. - Long-term borrowings increased by 320.78% to approximately 143.50 million RMB, indicating a significant rise in financing activities[41]. - Total liabilities decreased from ¥1,509,454,147.91 to ¥1,436,335,167.48, a decline of about 4.8%[85]. - Shareholders' equity decreased from ¥1,303,514,557.87 to ¥1,280,715,319.97, a decrease of approximately 1.7%[85]. Business Operations and Strategy - The company operates in the unique sector of airport economic zones, focusing on land development, industrial real estate, and property management[23]. - The core area of the Beijing Airport Economic Zone covers 178 square kilometers, with a focus on high-end service industries and strategic emerging industries[27]. - The company aims to leverage its experience in park development and capital operations to adapt to the transformation and upgrading of industrial parks[27]. - The company is actively pursuing strategic transformation to develop new urban models that integrate production and living spaces[26]. - The company has not reported any significant changes in its business operations or strategies during the reporting period[8]. - The company is committed to enhancing its operational capabilities to sustain market competitiveness and profitability in the long term[51]. - The company has outlined its strategy to avoid entering into new business ventures that may conflict with existing operations, thereby maintaining a clear focus on its primary business objectives[51]. Investments and Acquisitions - The company is actively expanding its investment business through participation in private equity funds, aiming to supplement its traditional business and achieve strategic goals[35][36]. - The company has invested in various projects, including Yun Ding Fund and Wei Guang Hui Tong tourism industry, and has been managing these investments actively[36]. - The company is exploring potential acquisitions to strengthen its product portfolio, with a budget of $3 billion allocated for this purpose[105]. - A strategic acquisition is planned, which is projected to enhance operational efficiency and increase revenue by 15%[115]. Risk Factors - The company faces risks related to policy changes affecting industrial land and real estate market cycles, which may impact performance[9]. - The company faces risks related to macroeconomic conditions and policy changes that could impact resource supply and costs[48]. Shareholder and Corporate Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6]. - The company has confirmed that it will not engage in new business activities similar to those of its subsidiaries, ensuring a focus on core competencies and avoiding conflicts of interest[51]. - The company has acknowledged the importance of adhering to local regulations and has adjusted its business strategies accordingly to align with regional planning requirements[51]. - The company has emphasized its dedication to fulfilling its commitments to shareholders and stakeholders, ensuring transparency and accountability in its operations[51]. - The company has not faced any penalties or corrective actions against its directors, supervisors, or senior management during the reporting period[56]. Legal Matters - The company reported a significant lawsuit involving its wholly-owned subsidiary, with a total claim amounting to approximately CNY 24,160,450.05[53]. - The company has no major litigation or arbitration matters pending that have not been disclosed[53]. Environmental and Social Responsibility - The company has implemented various environmental protection measures to minimize environmental impact[65]. Financial Reporting and Compliance - The report has not been audited, and the management has confirmed the accuracy and completeness of the financial report[5]. - The company has not made any changes to its accounting firm during the reporting period[52]. - The company has not disclosed any major accounting errors that require retrospective restatement[67]. - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations in the next 12 months[137].

Financial Performance - Net profit attributable to shareholders was CNY -19,668,213.20, showing an improvement from CNY -30,519,949.89 in the same period last year[8] - Operating revenue for the first nine months was CNY 681,312,958.42, representing a year-on-year increase of 9.17%[8] - Basic and diluted earnings per share were both CNY -0.0656, compared to CNY -0.1017 in the previous year[8] - Net profit for the first nine months of 2020 was -¥23,467,660.71, a 38.38% improvement from -¥38,085,239.99 in the same period last year[15] - The company reported a total profit of ¥2.19 million for Q3 2020, recovering from a loss of ¥2.68 million in Q3 2019[28] - The net loss for the first three quarters of 2020 was ¥23.47 million, compared to a loss of ¥38.09 million in the same period of 2019[29] - The company reported a significant increase in investment income received, amounting to ¥4,275,061.55 in Q3 2020, compared to ¥683,654.24 in Q3 2019[36] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,808,175,538.13, a decrease of 0.17% compared to the end of the previous year[8] - Total assets as of September 30, 2020, amounted to CNY 2,808,175,538.13, a slight decrease from CNY 2,812,968,705.78 at the end of 2019[21] - Current liabilities totaled CNY 1,367,004,073.69, down from CNY 1,459,582,580.87 in the previous period[21] - Non-current liabilities increased to CNY 160,877,561.34 from CNY 49,871,567.04, indicating a significant rise in long-term obligations[22] - The company's total liabilities reached CNY 1,527,881,635.03, compared to CNY 1,509,454,147.91 previously[22] - Total liabilities amounted to CNY 1,509,454,147.91, with current liabilities at CNY 1,459,582,580.87, and non-current liabilities at CNY 49,871,567.04[42] Cash Flow - Net cash flow from operating activities was CNY -97,164,874.47, a decline of 331.49% compared to the previous year[8] - Cash flow from operating activities for the first three quarters of 2020 was negative at ¥97,164,874.47, down from a positive cash flow of ¥41,972,903.97 in the same period of 2019[36] - Cash inflow from financing activities for the first three quarters of 2020 was ¥923,371,814.56, an increase from ¥756,865,126.02 in the same period of 2019[36] - The net cash flow from financing activities for Q3 2020 was 190,745,439.99 RMB, a turnaround from -60,282,538.18 RMB in Q3 2019[39] - Cash outflow for investment activities in the first three quarters of 2020 was 79,844,297.95 RMB, compared to 31,736,386.77 RMB in the same period of 2019, indicating a significant increase in investment spending[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,134[11] - The top shareholder, Beijing Airport Economic Development Co., Ltd., held 49.32% of the shares[11] - Shareholders' equity decreased to CNY 1,280,293,903.10 from CNY 1,303,514,557.87, reflecting a decline in retained earnings[22] - The company reported a total equity of CNY 1,162,593,407.44, down from CNY 1,174,945,083.54, indicating a reduction in overall shareholder value[25] Operational Efficiency - Inventory decreased by 54.05% to ¥457,945,055.43 from ¥996,568,984.22 due to the transfer of qualifying inventory to contract assets under new revenue standards[14] - Accounts receivable increased by 40.00% to ¥700,000 compared to ¥500,000 at the end of the previous year[14] - The company reported a 100.00% decrease in sales expenses, down to ¥0 from ¥154,751.22 due to reduced advertising costs[15] - The company’s cash inflow from sales of goods and services for the first three quarters of 2020 was 46,467,768.79 RMB, down from 68,773,986.28 RMB in the same period of 2019, reflecting a decline of approximately 32.5%[38] Strategic Initiatives - The company plans to sell and acquire stakes in subsidiaries as part of its strategic initiatives, as approved in the board meeting on August 27, 2020[15] - The company executed a new revenue recognition standard starting January 1, 2020, impacting retained earnings and financial statement items[43]

Financial Performance - Operating revenue increased by 71.52% to CNY 192,509,122.79 compared to the same period last year[6] - Net profit attributable to shareholders of the listed company improved by 39.52%, reaching a loss of CNY 6,208,659.53[6] - Basic and diluted earnings per share improved by 39.52% to -CNY 0.0207[6] - Net profit for Q1 2021 was CNY 3,383,238.17, compared to a net loss of CNY 3,767,992.99 in Q1 2020, indicating a significant turnaround[26] - The company reported a total profit of CNY 4,771,759.16 in Q1 2021, compared to a loss of CNY 4,189,609.24 in the same period last year[26] - The total comprehensive income for Q1 2021 was CNY 3,383,238.17, contrasting with a comprehensive loss of CNY -3,767,992.99 in Q1 2020[26] Cash Flow - Net cash flow from operating activities decreased by 17.34% to a negative CNY 171,997,442.09 compared to the same period last year[6] - The net cash flow from operating activities was -¥171.99 million in Q1 2021, compared to -¥146.58 million in Q1 2020, indicating a worsening cash flow situation[30] - The total cash outflow from operating activities increased to ¥431.97 million in Q1 2021 from ¥304.64 million in Q1 2020, reflecting a rise of 41.7%[30] - The net cash flow from financing activities was -¥19.15 million in Q1 2021, a decline from a positive net cash flow of ¥214.22 million in Q1 2020[30] - The company reported a net cash flow from operating activities of ¥7.23 million in its parent company for Q1 2021, a recovery from a loss of -¥10.10 million in Q1 2020[31] Assets and Liabilities - Total assets decreased by 9.08% to CNY 2,891,552,037.65 compared to the end of the previous year[6] - Total liabilities decreased to ¥704,416,315.55 in Q1 2021 from ¥744,068,344.55 in Q4 2020, indicating a reduction of about 5.3%[21] - The company’s total assets decreased from ¥3,180,282,178.75 to ¥2,891,552,037.65, a reduction of approximately 9.1%[16] - The company reported total liabilities of CNY 1,887,015,686.18, with current liabilities at CNY 1,728,718,015.01[36] - The company has a total of CNY 532,773,015.03 in accounts payable, reflecting its obligations to suppliers[36] Shareholder Information - The number of shareholders reached 12,570 at the end of the reporting period[9] - The largest shareholder, Beijing Airport Economic Development Co., Ltd., holds 49.32% of the shares[9] - Shareholders' equity reached CNY 1,293,266,492.57, including CNY 367,343,830.77 in undistributed profits[37] Operational Costs - Operating costs increased by 82.60% year-on-year to ¥163,992,449.07, primarily due to rising costs in the construction segment[11] - Operating costs decreased to CNY 11,616,309.87 in Q1 2021 from CNY 12,905,383.91 in Q1 2020, a reduction of about 10%[25] Investment and Other Income - Non-operating income and expenses resulted in a total loss of CNY 3,637,714.83 for the period[7] - The investment loss for Q1 2021 was CNY -782,324.82, a decrease from CNY -2,503,144.20 in Q1 2020, showing improved investment performance[26] Cash and Cash Equivalents - Cash and cash equivalents decreased by 55.61% from the beginning of the year to ¥153,093,876.30[11] - The total cash and cash equivalents at the end of Q1 2021 were ¥151.90 million, down from ¥328.33 million at the end of Q1 2020, a decrease of 53.8%[30]

Financial Performance - Net profit attributable to shareholders was CNY -10,265,804.00, a decrease of 2.53% year-on-year[5] - Operating revenue decreased by 46.87% to CNY 112,239,398.26 compared to the same period last year[5] - Operating profit for Q1 2020 was CNY -15,687,032.33, a decline of 42.45% compared to CNY -11,012,590.54 in Q1 2019, mainly due to reduced income from the construction segment[12] - Net loss for Q1 2020 was ¥12,088,888.16, slightly improved from a net loss of ¥12,463,298.69 in Q4 2019[26] - Net profit for Q1 2020 was a loss of CNY 3,767,992.99, compared to a profit of CNY 1,700,348.45 in Q1 2019[29] - The company reported a gross profit margin of -12.5% for Q1 2020, compared to -5.2% in Q4 2019[25] Cash Flow - Net cash flow from operating activities was CNY -146,581,029.91, a decline of 190.46% year-on-year[5] - Cash inflow from operating activities totaled CNY 158,054,026.23 in Q1 2020, down from CNY 300,699,722.46 in Q1 2019[31] - Cash outflow from operating activities was CNY 304,635,056.14 in Q1 2020, compared to CNY 351,165,563.34 in Q1 2019[31] - Cash flow from financing activities increased by 72.07% to CNY 214,218,363.79 from CNY 124,496,512.42 year-on-year, primarily due to increased cash received from borrowings[12] - Financing cash flow for Q1 2020 resulted in a net inflow of CNY 214,218,363.79, compared to CNY 124,496,512.42 in Q1 2019[33] Assets and Liabilities - Total assets increased by 0.75% to CNY 2,833,979,455.12 compared to the end of the previous year[5] - Total liabilities increased to CNY 1,542,553,785.41 from CNY 1,509,454,147.91, reflecting a rise in both current and non-current liabilities[16] - Long-term borrowings rose to CNY 145,000,000.00 from CNY 34,103,167.68, indicating a significant increase in debt financing[15] - Current liabilities rose to ¥626,056,399.47, up 26.5% from ¥494,862,735.46 in Q4 2019[20] Shareholder Information - The number of shareholders reached 16,860 at the end of the reporting period[9] - The largest shareholder, Beijing Airport Economic Development Co., Ltd., holds 49.32% of the shares[9] Revenue and Costs - Total operating costs decreased by 43.38% to CNY 126,214,134.29 from CNY 222,905,685.65 year-on-year, attributed to lower revenue in the construction segment[12] - Total revenue for Q1 2020 was CNY 112,239,398.26, a decrease of 46.87% compared to CNY 211,246,650.46 in Q1 2019, primarily due to a decline in the construction segment[12] Other Financial Metrics - The weighted average return on equity decreased by 0.11 percentage points to -0.82%[5] - The company reported a significant increase in other income, which rose by 895.99% to CNY 1,005,445.07, primarily due to increased government subsidies[12] - Interest income decreased to CNY 7,912,968.70 in Q1 2020 from CNY 9,268,575.07 in Q1 2019, a decline of 14.6%[29]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥321.76 million, a decrease of 14.38% compared to ¥375.82 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company was approximately -¥22.41 million, an improvement from -¥28.56 million in the previous year[19]. - The net cash flow from operating activities was approximately -¥94.42 million, which is a decline of 46.52% compared to -¥64.44 million in the same period last year[19]. - The total assets at the end of the reporting period were approximately ¥2.71 billion, down 3.60% from ¥2.81 billion at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were approximately ¥1.24 billion, a decrease of 1.76% from ¥1.26 billion at the end of the previous year[19]. - Basic earnings per share for the first half of 2020 were -0.0747 CNY, an improvement from -0.0952 CNY in the same period last year[20]. - Diluted earnings per share for the first half of 2020 were -0.0747 CNY, compared to -0.0952 CNY in the previous year[20]. - The weighted average return on equity decreased to -1.80% from -2.04% year-on-year[20]. - The net profit attributable to shareholders was -22.41 million yuan, a decrease in loss of 6.15 million yuan compared to the same period last year[30]. - The company reported a net loss for the first half of 2020 of CNY -33,999,109.15, an improvement from a loss of CNY -39,480,535.40 in the same period of 2019[99]. Cash Flow and Financing - The company emphasizes the importance of cash flow management amid ongoing economic fluctuations[19]. - The net cash flow from financing activities increased by 190.57% to approximately 53.38 million RMB, primarily due to increased cash from borrowings[37]. - The company provided temporary loans to its subsidiaries due to liquidity issues, with significant amounts outstanding[63]. - The total outstanding loans to subsidiaries at the end of the reporting period amounted to approximately 1.01 billion yuan[63]. - Cash inflow from financing activities reached CNY 621,188,916.14, up from CNY 319,628,035.54 in the prior period[107]. - Net cash flow from financing activities was CNY 53,379,013.67, a recovery from -CNY 58,939,922.32 in the previous half-year[107]. Assets and Liabilities - Long-term borrowings increased by 320.78% to 143.50 million RMB, indicating a significant rise in long-term debt[42]. - The company's inventory decreased by 55.01% to approximately 448.36 million RMB, attributed to the transfer of qualifying inventory to contract assets under new revenue standards[42]. - Total liabilities were RMB 1,434,288,619.36, down from RMB 1,509,454,147.91, reflecting a decrease of about 5%[93]. - The company's total assets reached CNY 1,842,196,593.16, up from CNY 1,712,976,508.34, representing an increase of 7.6%[96]. - The total owner's equity at the end of the reporting period is 1,164,337,499.49 CNY, a decrease of 10,607,584.05 CNY compared to the previous period[127]. Business Operations and Strategy - The company operates in the unique sector of airport economic zones, focusing on land development, industrial real estate, and property management[23]. - The company is actively pursuing strategic transformation towards integrated urban development, combining production and living spaces[26]. - The company aims to enhance its operational results to benefit society and shareholders amidst favorable internal and external development conditions[27]. - The company is focusing on expanding its investment business through private equity funds to supplement its traditional operations[35]. - The company is exploring potential mergers and acquisitions to strengthen its market position[121]. Risks and Challenges - The company faces risks related to policy changes affecting industrial land and real estate market cycles[7]. - The company faces risks from macroeconomic policies and fluctuations in raw material and labor prices, which could significantly impact operational costs[48]. - The company is currently involved in significant litigation concerning debt recovery, with ongoing cases against its wholly-owned subsidiary, Beijing Airport Tianrui Real Estate Investment Co., Ltd.[52]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,654[76]. - The top shareholder, Beijing Airport Economic Development Co., holds 147,946,207 shares, representing 49.3% of total shares[78]. - The company has seen a change in control, with Beijing Airport Economic Development Co. becoming the new controlling shareholder as of January 19, 2020[80]. - The company has not disclosed any related party relationships among the top shareholders, except for the relationship between Beijing Airport Economic Development Co. and its subsidiary[79]. Compliance and Governance - The company has not reported any significant penalties or integrity issues for itself or its major stakeholders during the reporting period[56]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[57]. - The financial statements are prepared based on the going concern assumption, indicating no significant doubts about the company's ability to continue operations[141]. - The accounting policies comply with the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[142].

Financial Performance - Operating revenue for the period was CNY 112,239,398.26, a decrease of 46.87% compared to the same period last year[8] - Net profit attributable to shareholders was a loss of CNY 7,916,048.73, an improvement of 20.94% compared to the loss of CNY 10,012,302.76 in the previous year[8] - Basic earnings per share improved by 20.94% to CNY -0.0264 from CNY -0.0334 in the same period last year[8] - Total revenue for Q1 2020 was CNY 112,239,398.26, a decrease of 46.87% compared to CNY 211,246,650.46 in Q1 2019, primarily due to reduced income from the construction segment[16] - Net loss for Q1 2020 was CNY 9,739,132.89, compared to a net loss of CNY 12,463,298.69 in Q1 2019, showing an improvement of 21.9%[31] - The net profit attributable to shareholders of the parent company for Q1 2020 was -7,916,048.73 RMB, compared to -10,012,302.76 RMB in Q1 2019, showing an improvement of approximately 21%[32] Cash Flow - The net cash flow from operating activities was a negative CNY 146,581,029.91, a decline of 190.46% compared to the previous year[8] - Net cash flow from operating activities decreased by 190.46% to CNY -146,581,029.91, compared to CNY -50,465,840.88 in Q1 2019, indicating a significant drop in cash received from sales[16] - The net cash flow from operating activities for Q1 2020 was -CNY 10,097,598.92, worsening from -CNY 803,924.31 in the same period last year[38] - The total cash inflow from operating activities was significantly impacted by a decrease in sales revenue, which fell to CNY 12,613,863.94 from CNY 20,621,395.55 in the previous year[38] - The company reported a cash outflow of CNY 1,070,016.06 related to other operating activities, down from CNY 2,521,036.79 in Q1 2019[38] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,836,208,847.69, an increase of 0.83% compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 0.63% to CNY 1,250,600,766.82 compared to the end of the previous year[8] - Total liabilities as of March 31, 2020, were CNY 779,984,950.33, up from CNY 538,031,424.80 at the end of 2019[27] - The company's equity attributable to shareholders was CNY 1,171,177,090.55, slightly down from CNY 1,174,945,083.54 at the end of 2019[27] - Long-term borrowings increased by 325.18% to CNY 145,000,000.00 from CNY 34,103,167.68, reflecting a strategy to secure additional financing[16] Shareholder Information - The company had a total of 16,860 shareholders at the end of the reporting period[12] - The top shareholder, Beijing Airport Economic Development Co., Ltd., held 49.32% of the shares[12] Government Support - Government subsidies recognized in the current period amounted to CNY 1,059,756.47, contributing to non-operating income[8] Investment Activities - The company recorded investment income of CNY 1,771,917.35, a substantial increase of 868.75% compared to a loss of CNY 230,494.55 in the previous year, driven by equity investment returns[16] - Investment activities generated a net cash flow of 4,004,328.98 RMB in Q1 2020, compared to -32,992,947.43 RMB in Q1 2019, indicating a significant recovery[37] - The company did not report any cash inflow from investment activities, indicating a focus on cash preservation during this period[39] Financial Ratios - The weighted average return on net assets increased by 0.08 percentage points to -0.63%[8]

Financial Performance - The company achieved a net profit attributable to the parent company of CNY 9,074,426.77 in 2020, with a total distributable profit of CNY 367,343,830.77 at year-end[5]. - The company's operating revenue for 2020 was approximately ¥1.12 billion, representing a 2.09% increase compared to ¥1.10 billion in 2019[22]. - The net profit attributable to shareholders was ¥9.07 million, a significant recovery from a loss of ¥17.27 million in 2019[22]. - The basic earnings per share for 2020 was ¥0.0302, compared to a loss of ¥0.0576 per share in 2019[23]. - The weighted average return on equity improved to 0.73% in 2020 from -1.31% in 2019[23]. - The net cash flow from operating activities was ¥67.41 million, down 24.97% from ¥89.84 million in 2019[22]. - Total assets increased by 13.06% to ¥3.18 billion in 2020 from ¥2.81 billion in 2019[22]. - The company reported non-recurring gains of ¥72.55 million in 2020, compared to ¥12.33 million in 2019[26]. - The fourth quarter of 2020 saw a net profit of ¥35.92 million, a turnaround from losses in the previous three quarters[25]. - The company’s net assets attributable to shareholders decreased by 1.02% to ¥1.25 billion at the end of 2020[22]. - The company achieved operating revenue of CNY 1,117.91 million, a year-on-year increase of 2.09%[47]. - The net profit attributable to shareholders increased by 152.54% to CNY 9.0744 million[47]. - The total assets of the company reached CNY 3,180.2822 million, reflecting a year-on-year growth of 13.06%[47]. - The company reported a significant decrease in inventory, down 66.70% to 331,900,822.77 RMB, primarily due to the transfer of qualifying inventory to contract assets and liabilities[62]. - The company reported a net profit for 2020 of CNY 4,647,841.79, recovering from a net loss of CNY 22,656,022.18 in 2019[195]. - The total comprehensive income for 2020 was CNY 897,841.79, compared to a loss of CNY 22,656,022.18 in 2019[195]. Dividend and Profit Distribution - A cash dividend of CNY 0.1 per 10 shares (including tax) is proposed, totaling CNY 3,000,000.00 to be distributed to shareholders[5]. - In 2020, the company did not distribute profits and reported a cash dividend of CNY 3 million, which accounted for 33.06% of the net profit attributable to shareholders[96]. Risks and Challenges - The company faces risks from policy changes in Beijing that may impact industrial real estate project sales due to adjustments in industrial policies[9]. - The COVID-19 pandemic significantly affected the global economy, leading to weak demand in the market leasing business and increased costs due to construction project delays[9]. - The company is subject to risks related to macroeconomic conditions, which may affect its annual performance[9]. - The company faces risks from macroeconomic conditions, including the impact of the COVID-19 pandemic on rental market demand and potential cost increases due to fluctuations in raw material and labor prices[92]. Business Operations and Strategy - The company focuses on park development and construction, including land development, industrial real estate, construction engineering, and property leasing and management[32]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24]. - The company aims to leverage its proximity to Beijing Capital International Airport to enhance its competitive advantage in the air transport and logistics sectors[39]. - The company is actively participating in the transformation of industrial parks towards more refined and sustainable development models[34]. - The company has established three main business modules: industrial real estate development, construction engineering, and property leasing and management[39]. - The company aims to enhance its core competitiveness by developing three major projects: "Airport Innovation Park," "Airport Headquarters Park," and "Airport Industrial City" under the strategy of industrial real estate development[88]. - The company plans to leverage the advantages of the Beijing Capital International Airport to enhance its development model and innovate product design[85]. - The company is actively expanding its development areas beyond the core area of the airport economy, including various industrial bases and zones[83]. Financial Management and Audit - The company has received a standard unqualified audit report from Zhongshen Yatai Certified Public Accountants[4]. - The company’s board of directors and senior management have confirmed the accuracy and completeness of the annual report[4]. - The company has not disclosed any non-operating fund occupation by controlling shareholders or related parties during the reporting period[7]. - The company has not encountered any violations in decision-making procedures regarding external guarantees[8]. - The company has not reported any new non-operating fund occupations during the reporting period, aside from the changes due to the stake transfer[99]. - The company has committed to ensuring the independence of its operations and decision-making processes in accordance with corporate governance standards[98]. - The company has not received any non-standard audit opinions from its accounting firm during the reporting period[100]. - The company has taken measures to ensure compliance with the new accounting standards and has communicated these changes to stakeholders[102]. Shareholder Information - The largest shareholder, Beijing Airport Economic Development Co., Ltd., holds 49.32% of the shares, totaling 147,946,207 shares[131]. - The second largest shareholder, Guokai Financial Co., Ltd., holds 16% of the shares, totaling 48,000,000 shares[131]. - The top ten shareholders include several natural persons, with the largest individual holding being 4,112,600 shares, representing 1.37%[131]. - The company has no strategic investors or general legal entities becoming top ten shareholders during the reporting period[132]. - The controlling shareholder, Beijing Airport Economic Development Co., Ltd., was restructured from a state-owned enterprise to a limited liability company[133]. - The actual controller is the State-owned Assets Supervision and Administration Commission of the People's Government of Shunyi District, Beijing, which indirectly holds 37.51% of shares in another listed company[135]. Employee and Management Information - The total number of employees in the parent company is 179, while the total number of employees in major subsidiaries is 474, resulting in a combined total of 653 employees[148]. - The company has 259 technical personnel, 59 production personnel, and 15 sales personnel among its total workforce[148]. - The remuneration for directors, supervisors, and senior management is determined based on the company's annual operating performance, job responsibilities, and achievement of performance targets[145]. - The company has implemented a training program that is diverse and flexible, tailored to the needs of the company and employees[150]. - The company has maintained a consistent management team with no new appointments or departures reported[141]. Legal and Compliance Matters - The company is involved in significant litigation matters, including a case where it is owed CNY 24,160,450.05 by Beijing Lvzhu Technology Development Co., Ltd.[106]. - As of the report date, the company has recovered approximately CNY 2.77 million from the aforementioned litigation[108]. - The company has adhered to regulations regarding related party transactions, ensuring that they did not exceed the expected amount during the reporting period[111]. - The company signed a termination agreement with its controlling shareholder to completely divest from land-level development business, as approved in the board meeting[113]. Future Outlook and Strategic Plans - In 2021, the company plans to strengthen its internal control norms and deepen the implementation of its development strategy to achieve a transformation breakthrough during the current opportunity period[89]. - The company will increase its investment in industrial real estate development, construction engineering, and property leasing and management, with a focus on enhancing its marketing system and accelerating resource listing[89].

Financial Performance - In 2019, the company reported a net profit attributable to shareholders of -17,271,504.53 RMB, a decrease of 212.84% compared to the previous year's profit of 15,306,177.17 RMB[5]. - The company's operating revenue for 2019 was 1,095,013,465.27 RMB, reflecting a decline of 13.48% from 1,265,608,185.22 RMB in 2018[20]. - Basic earnings per share for 2019 was -0.0576 yuan, a decrease of 212.84% compared to 0.051 yuan in 2018[21]. - Diluted earnings per share for 2019 was also -0.0576 yuan, reflecting the same percentage decrease as basic earnings[21]. - The weighted average return on equity decreased by 2.40 percentage points to -1.31% in 2019 from 1.09% in 2018[21]. - Total revenue for Q4 2019 reached 470,957,399.43 yuan, with a net profit attributable to shareholders of 13,248,445.36 yuan[24]. - The company reported a significant increase in net profit in Q4 2019, contrasting with losses in earlier quarters, indicating a potential turnaround[24]. - The company achieved a net profit of CNY 15,306,177.17 for the year 2018, with a total distributable profit of CNY 394,430,331.57 after accounting for previous distributions[84]. - The company reported a total revenue of 1,095,013,465.27 CNY for the period, a decrease of 13.48% compared to the previous year[44]. - Net profit attributable to shareholders was -1,727.15 million CNY, down 212.84% year-on-year[44]. Cash Flow and Liquidity - The net cash flow from operating activities improved to 89,840,886.50 RMB in 2019, compared to a negative cash flow of -296,350,598.26 RMB in 2018, marking a 130.32% increase[20]. - Total operating cash flow net amount increased by 130.32% to ¥386,191,484.76, primarily due to increased cash received from sales of goods and services[53]. - Total investment cash flow net amount increased by 86.15% to ¥108,970,105.88, mainly because there were no significant investment cash outflows in the current period[53]. - Total financing cash flow net amount decreased by 127.58% to -¥456,034,005.64, primarily due to a reduction in cash received from borrowings compared to the previous year[53]. - The company’s operating cash flow for the period was 89,840,886.50 CNY, a significant improvement from -296,350,598.26 CNY in the previous year, marking a 130.32% increase[46]. - The total cash and cash equivalents at the end of 2019 were 256,688,571.53 RMB, a decrease from 282,934,317.16 RMB at the end of 2018[196]. Assets and Liabilities - Total assets at the end of 2019 were 2,812,968,705.78 RMB, down 3.29% from 2,908,673,738.18 RMB at the end of 2018[20]. - The company's net assets attributable to shareholders decreased by 10.80% to 1,258,516,815.55 RMB at the end of 2019, compared to 1,410,953,161.60 RMB at the end of 2018[20]. - Current assets totaled ¥1,591,957,325.81, down from ¥1,696,019,965.95 in the previous year, indicating a decrease of about 6.1%[177]. - Total liabilities rose to ¥1,509,454,147.91 from ¥1,447,338,316.61, reflecting an increase of approximately 4.3%[179]. - The company's equity attributable to shareholders decreased to ¥1,258,516,815.55 from ¥1,410,953,161.60, a decline of about 10.8%[179]. Business Operations and Strategy - The company operates in the unique sector of airport economic zones, focusing on land development and industrial real estate[30]. - The company’s industrial real estate development includes a range of services from production to logistics and research, aimed at generating economic benefits[30]. - The company is actively developing approximately 167.97 acres of land in the Airport C Zone, with additional projects covering 261.99 acres, 274.91 acres, and 127.33 acres in various industrial bases[38]. - The company is focusing on transforming its business structure to include land development, industrial real estate development, construction engineering, and property leasing and management[35]. - The company aims to integrate land, technology, and financial capital to promote sustainable development and maintain stable growth in land development business[35]. - The company plans to focus on the rapid development opportunities in the capital's airport economy, optimizing its park development model and innovating product design[76]. - The company is positioned to benefit from the construction of the Shunyi New City, which aims to create a world-class aviation hub and promote high-end service industry clusters[76]. Risks and Challenges - The company faces risks related to policy changes in Beijing that may impact industrial land sales and project approvals[7]. - The company is exposed to cyclical fluctuations in the land development and industrial real estate market, which are closely tied to macroeconomic conditions[7]. - Fluctuations in raw material and labor costs significantly impact the company's real estate development and construction business, posing a risk of increased costs[81]. - The company is closely monitoring macroeconomic conditions and land policy trends to mitigate risks associated with resource dependency and capital intensity[81]. Corporate Governance and Compliance - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[7]. - The company has not faced any penalties from securities regulatory authorities in the past three years[141]. - The company has not reported any significant changes in its major accounting estimates or policies that would affect its financial results[90]. - The company has not disclosed any significant debt defaults or unfulfilled court judgments during the reporting period[97]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[94]. Shareholder Information - The largest shareholder, Beijing Airport Economic Development Co., Ltd., holds 147,946,207 shares, representing 49.32% of the total shares[121]. - The second largest shareholder, Guokai Financial Co., Ltd., holds 48,000,000 shares, accounting for 16.00% of the total shares[121]. - The total number of ordinary shareholders at the end of the reporting period is 18,314, an increase from 16,860 at the end of the previous month[119]. Employee and Management Information - The total number of employees in the parent company is 184, while the main subsidiaries employ 509, resulting in a total of 693 employees[142]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 549.58 million yuan[134]. - The company has not granted any equity incentives to directors or senior management during the reporting period[137]. - The company has implemented a training program tailored to diverse employee needs, focusing on various levels and categories[144].

Financial Performance - Operating revenue for the first nine months was CNY 681,312,958.42, an increase of 9.17% year-on-year[9] - Net profit attributable to shareholders was CNY -26,847,900.95, showing an improvement from CNY -30,519,949.89 in the same period last year[9] - Basic and diluted earnings per share were both CNY -0.0895, compared to CNY -0.1017 in the same period last year[9] - Total operating revenue for Q3 2020 was approximately $359.55 million, a 44.8% increase from $248.23 million in Q3 2019[25] - Total operating costs for Q3 2020 were approximately $363.94 million, up from $251.14 million in Q3 2019, reflecting a 44.8% increase[25] - Net loss for Q3 2020 was approximately $4.17 million, compared to a net loss of $3.35 million in Q3 2019, indicating a worsening of 24.6%[26] - The total profit loss for Q3 2020 was approximately $2.81 million, compared to a loss of $2.68 million in Q3 2019[26] - Operating profit for Q3 2020 was approximately -$3.34 million, compared to -$2.95 million in Q3 2019[26] - The company reported a total revenue of approximately $681.31 million for the first three quarters of 2020, an increase of 9.2% from $624.06 million in the same period of 2019[25] - Total profit for the first three quarters of 2020 was a loss of CNY 1,545,366.83, compared to a profit of CNY 3,617,015.43 in the same period of 2019[30] Cash Flow - Cash flow from operating activities for the first nine months was CNY -97,164,874.47, a decline of 331.49% compared to the previous year[9] - Cash flow from operating activities for the first three quarters of 2020 was a net outflow of CNY 97,164,874.47, compared to a net inflow of CNY 41,972,903.97 in the first three quarters of 2019[32] - The total cash inflow from operating activities for the first three quarters of 2020 was CNY 689,876,332.72, down from CNY 908,024,384.17 in the same period of 2019[32] - The company reported interest income of CNY 9,234,776.38 for Q3 2020, compared to CNY 10,476,964.53 in Q3 2019[29] - The company incurred financial expenses of approximately $8.4 million in Q3 2020, compared to $7.11 million in Q3 2019, reflecting an increase of 18.2%[25] - The net cash flow from financing activities for the first three quarters of 2020 was 190,745,439.99 RMB, a recovery from a negative cash flow of -60,282,538.18 RMB in the same period of 2019[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,797,699,006.68, a decrease of 0.54% compared to the end of the previous year[9] - Total liabilities increased from CNY 1,509,454,147.91 to CNY 1,524,584,791.33, a rise of about 1.00%[20] - Owner's equity decreased from CNY 1,303,514,557.87 to CNY 1,273,114,215.35, a decline of approximately 2.33%[20] - Current liabilities increased from CNY 1,459,582,580.87 to CNY 1,367,004,073.69, a decrease of about 6.32%[20] - Non-current liabilities rose from CNY 49,871,567.04 to CNY 157,580,717.64, an increase of approximately 215.36%[20] - The total amount of other payables decreased by 48.62% to ¥61,470,596.39 from ¥119,639,776.95, mainly due to the repayment of due related party loans[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,134[11] - The largest shareholder, Beijing Airport Economic Development Co., Ltd., held 49.32% of the shares[11] Inventory and Receivables - Accounts receivable increased by 40% to ¥700,000 compared to ¥500,000 at the end of the previous year, primarily due to an increase in receivables in the form of notes[14] - Inventory decreased by 54.05% to ¥457,945,055.43 from ¥996,568,984.22, mainly due to the transfer of qualifying inventory to contract assets under new revenue standards[14] - Contract assets reached ¥600,831,938.10, a new entry due to the same transfer of inventory under new revenue standards[14] - The company's inventory increased to 996,568,984.22 RMB in Q3 2020, up from 448,546,304.25 RMB in Q3 2019, marking an increase of approximately 122.4%[40] Company Strategy and Developments - The company has not disclosed any new product developments or market expansion strategies in this report[11] - The company plans to sell equity in a controlling subsidiary and acquire equity in another subsidiary, with the details disclosed in previous announcements[16] - The company has not completed the subsequent property transaction procedures related to the aforementioned equity transactions[16] - The company adopted new revenue recognition standards starting January 1, 2020, impacting the financial statements without retroactive adjustments[47] - The company implemented new revenue recognition and lease standards effective January 1, 2020, resulting in adjustments to the balance sheet[48]