Financial Performance - Revenue for the fourth quarter (October-December) was RMB 3,756,682,083.34, with net profit attributable to shareholders of RMB 302,354,922.37[18] - Net cash flow from operating activities in the fourth quarter was RMB 455,283,988.23[18] - Revenue for the reporting period reached 5.019 billion yuan, a year-on-year increase of 16.15%[43] - Net profit attributable to shareholders of the listed company was 542 million yuan, a year-on-year decrease of 12.40%[43] - Net profit from the energy logistics business was 211 million yuan, a year-on-year increase of 365.83%[43] - Operating cash flow net amount was 1.235952 billion yuan, a year-on-year decrease of 39.06%[65] - Investment cash flow net amount was -908.854665 million yuan, remaining relatively stable compared to the previous year[47] - Financing cash flow net amount was -1.561258606 billion yuan, an increase of 277.045966 million yuan due to increased borrowing for the acquisition of the Hongnuo Railway[47] - Revenue for 2022 was RMB 5,019,308,743.15, an increase of 16.15% compared to 2021[189] - Net profit attributable to shareholders of the listed company in 2022 was RMB 541,545,488.58, a decrease of 12.40% compared to 2021[189] - Net cash flow from operating activities in 2022 was RMB 1,235,952,018.62, a decrease of 39.06% compared to 2021[189] - Total assets at the end of 2022 were RMB 21,706,645,251.84, a decrease of 10.30% compared to the end of 2021[189] - Net assets attributable to shareholders of the listed company at the end of 2022 were RMB 5,669,344,571.56, a decrease of 36.93% compared to the end of 2021[189] Energy Logistics Business - The company participated in the construction and operation of the Jiangnuo Railway, marking a significant step in its strategic transformation towards energy logistics[25] - The company's energy logistics business, particularly coal transportation via railways, has a promising market outlook due to China's coal supply-demand mismatch[22] - Acquired 92.7708% equity of Hongnuo Railway Company, marking the establishment of the company's main business and strategic development direction as an innovative modern logistics operator focusing on energy logistics[26] - Hongnuo Railway, with a total length of 435.6 kilometers, connects the main and northern channels for coal transportation from Xinjiang to inland consumer markets, with coal outbound volume expected to increase annually[27] - Jiangnuo Railway, a key infrastructure for coal resource development in Hami and Zhundong regions, is scheduled to be completed and operational by the end of Q3 2023[28] - Energy logistics service revenue increased by 17.75% year-on-year, driven by increased railway transportation service revenue[32] - The company established Guanghui Ningxia Coal Storage and Distribution Co., Ltd. in Ningxia Ningdong Energy and Chemical Industry Base, focusing on railway transportation and coal blending processing[30] - The company's logistics bases, including Liugou, Guangyuan, and Ningdong, are strategically located in regions with increasing structural coal shortages, covering multiple provinces and regions[41] - The Jiangnuo Railway, in which the company holds a stake, is expected to commence operations by the end of Q3 2023, contributing to increased transportation volume[42] - Long-term equity investment book value increased by 100.1882 million yuan to 291.1751 million yuan, primarily due to the company's investment in the Jiangnuo Railway[58] - Energy logistics service revenue was 1.181802445 billion yuan, with a gross margin of 41.42%, up 5.96 percentage points year-on-year[66] - The company's railway subsidiary achieved a net profit of RMB 203.89 million after deducting non-recurring gains and losses, exceeding the performance commitment of RMB 159.32 million[118] Commercial Property and Real Estate - The company's commercial management business improved tenant services and introduced new experiential projects, leading to increased foot traffic[11] - Commercial property sales revenue increased by 18.97% year-on-year, while gross margin decreased by 18.70 percentage points due to different revenue projects[32] - Property leasing revenue decreased by 47.35% year-on-year, primarily due to reduced rental income from Meiju Logistics Park[32] - Development costs for commercial property sales increased by 58.95% year-on-year, accounting for 78.88% of total costs[33] - Commercial property sales revenue was 3.749923296 billion yuan, with a gross margin of 25.67%, down 18.70 percentage points year-on-year[66] - The company's real estate development projects accounted for 74.71% of the total revenue in 2022[188] - The company confirmed revenue from real estate development projects when contracts were signed, properties were completed and accepted, and initial payments were received[188] - The company adjusted the performance commitment period for real estate projects, reducing the commitment from RMB 310 million to RMB 241.64 million due to market conditions and policy changes[118] Corporate Governance and Internal Control - The company's financial report for 2022 was audited by Da Xin Certified Public Accountants, which issued a standard unqualified opinion[15] - The company revised the "Insider Information Insider Registration Management System" in early 2023 to enhance transparency and protect shareholders' rights[94] - The company's Audit Committee held 15 meetings during the reporting period, focusing on issues such as equity acquisition and audit fees[103] - The company's Nomination Committee approved the appointment of new directors and senior management personnel, ensuring compliance with legal and regulatory requirements[104] - The company's Compensation and Assessment Committee approved the repurchase and cancellation of 3.918 million restricted shares and stock options due to unmet performance conditions[104] - The company's internal control system was audited by Da Xin Certified Public Accountants, which issued a standard unqualified opinion on the internal control audit report[112] - The company's internal control system was evaluated and no significant deficiencies were found[112] - Independent directors occasionally did not attend board meetings in person due to travel or work conflicts, but they delegated voting rights to other independent directors and fulfilled their duties of loyalty and diligence[137] - The company's board of directors, supervisors, and senior management actively participated in training programs organized by the Shanghai Stock Exchange, the China Securities Regulatory Commission, and the Sichuan Provincial Securities Regulatory Bureau[107] Subsidiaries and Investments - The company established Guanghui Ningxia Coal Storage and Distribution Co., Ltd. in Ningxia Ningdong Energy and Chemical Industry Base, focusing on railway transportation and coal blending processing[30] - The company established Guangyuan Coal Storage and Distribution Co., Ltd. with a registered capital of 500 million yuan, with its subsidiary Sichuan Huisheng contributing 400 million yuan (80%) and Guanghui Group contributing 100 million yuan (20%)[148] - The company's subsidiary, Guanghui Energy Co., Ltd., reported a significant financial impact with a total of RMB 3,740,968,966.78[192] - The company's subsidiary, Xinjiang Dasheng Network Technology Development Co., Ltd., reported a net income of RMB 26,481,576.19[192] - The company's subsidiary, Xinjiang Guanghui Liquefied Natural Gas Development Co., Ltd., reported a loss of RMB 964,349.97[192] - The company's subsidiary, Yiwu Guanghui Mining Co., Ltd., reported a loss of RMB 5,029,455.21[192] - The company's subsidiary, Xinjiang Jiangnao Railway Co., Ltd., reported a net income of RMB 141,152.55[192] - Total revenue for the subsidiaries is 2,453,164,523.51 million yuan, with a net profit of 1,839,103,011.19 million yuan, resulting in a total of 4,292,267,534.70 million yuan[183] - The largest subsidiary, Xinjiang Damo Landscape Art Co., Ltd., reported revenue of 2,382,758.67 million yuan and a net profit of 19,252,498.05 million yuan, totaling 21,635,256.72 million yuan[183] - Guazhou Guanghui Energy Logistics Co., Ltd. recorded revenue of 4,402,425.86 million yuan and a net profit of 107,841,864.00 million yuan, totaling 112,244,289.86 million yuan[183] Shareholder and Equity Information - The company's total equity changes for the year amounted to 9,550,495 shares, with a decrease of 1,761,000 shares compared to the previous year[100] - The top shareholder, Xinjiang Guanghui Industrial Investment (Group) Co., Ltd., holds 541,213,926 unrestricted shares[186] - The second-largest shareholder, Xinjiang Cuijin Investment Co., Ltd., holds 81,545,320 unrestricted shares[186] - Guanghui Logistics Co., Ltd. repurchased 61,491,696 shares, accounting for 4.90% of the total shares[186] - The company has no plans for share reduction by its controlling shareholder, directors, supervisors, or senior management during the specified period[141] - The company ensures that related-party transactions are conducted under fair, open, and market-based principles to protect the interests of shareholders[141] - The company has no non-operational fund occupation by its controlling shareholder or related parties[174] Corporate Social Responsibility and ESG - The company donated a total of 63,600 yuan in 2022, including 63,600 yuan in material donations, benefiting 600 people[156] - The company has no plans to implement carbon reduction measures[113] - The company did not disclose a separate social responsibility report, sustainability report, or ESG report[115] Financial Statements and Audits - The company's long-term prepaid expenses are amortized over the benefit period, with any unamortized balance written off if the project no longer benefits future periods[3] - The company's financial statements were audited and found to be in compliance with Chinese accounting standards, reflecting the company's financial status and operating results accurately[188] - The company's associated debt and credit did not have a significant impact on its operating results or financial status[183] Operational Costs and Expenses - Total cost of energy logistics services increased by 6.87% year-on-year, accounting for 19.59% of total costs[33] - Sales expenses increased by 67.15 million yuan, a 45.49% increase year-on-year, mainly due to changes in the property sales business structure[71] - Management expenses increased by 14.02 million yuan, a 12.22% increase year-on-year, primarily due to increased intermediary fees from the acquisition of Hongnau Railway[71] - Financial expenses decreased by 47.50 million yuan, a 13.74% decrease year-on-year, mainly due to reduced interest expenses[71] Project Investments - The total investment in the Guanghui Yuyuan, CBD, and Art Museum project in Chengdu is 774.71 million yuan, with a current investment of 46.29 million yuan[73] - The total investment in the Yijing Courtyard project in Urumqi is 128.05 million yuan, with a current investment of 302,600 yuan[73] - The total investment in the Huiming City project in Meishan is 166.08 million yuan[73] - The total investment in the Huiyue City project in Guilin is 80.69 million yuan, with a current investment of 8.44 million yuan[73] - The total investment in the Huirun City Phase I and II project in Urumqi is 102.36 million yuan, with a current investment of 629,400 yuan[73] - The total investment in the Huiming Xuan project in Urumqi is 17.16 million yuan, with a current investment of 6.85 million yuan[73] - The total investment in the Yujin City project in Urumqi is 195 million yuan, with a current investment of 24.57 million yuan[73] Training and Development - The company organized 276 business training sessions involving 2,718 participants, focusing on safety production, cost control, legal risk prevention, financial and tax management, and marketing management[107] Dividend and Profit Distribution Policy - The company's cash dividend policy requires that the distributable profit for the year must be positive, and the financial report must receive a standard unqualified audit opinion[108] - The company's profit distribution policy emphasizes cash dividends when the company is profitable and has sufficient cash flow to support normal operations and long-term development[108] Earnings Per Share and Net Assets - The company's basic earnings per share (EPS) for 2022 were 0.45 yuan/share, down from 0.52 yuan/share in 2021, while diluted EPS remained the same at 0.45 yuan/share[167] - The company's net assets per share decreased to 4.75 yuan/share in 2022 from 7.52 yuan/share in 2021[167] Business Strategy and Transformation - The company paid RMB 4.176 billion in cash for acquisitions in 2022[25] - The company's logistics business remains its core focus, and it has committed not to add new residential real estate development projects unrelated to logistics and commercial services after the 2019 acquisition[137] - The controlling shareholder and the company have competitive overlaps in business scope, nature, customer base, and product substitutability, primarily due to the temporary inclusion of residential real estate projects, but this does not harm the company's independence[137] Company Information - The company's registered address is in the China (Sichuan) Pilot Free Trade Zone, Chengdu Tianfu New Area, Longxiang West First Street, No. 88[7] - The company's website is http://www.chinaghwl.com/, and its email is ghwl@chinaghfz.com[7]

Financial Performance - The net profit for Q1 2023 was CNY 181,511,112.94, a significant increase from CNY 72,933,745.61 in Q1 2022, representing a growth of approximately 148%[4] - The total revenue from operating activities reached CNY 1,330,711,272.80, compared to CNY 916,914,457.52 in the same period last year, indicating a year-over-year increase of about 45%[9] - The operating profit for Q1 2023 was CNY 236,293,838.20, up from CNY 92,719,776.42 in Q1 2022, reflecting a growth of approximately 154%[4] - The basic earnings per share for Q1 2023 was CNY 0.15, compared to CNY 0.06 in Q1 2022, marking a 150% increase[5] - The company reported a total comprehensive income of CNY 181,511,112.94 for Q1 2023, compared to CNY 72,933,745.61 in Q1 2022, indicating a growth of approximately 148%[6] - Net profit attributable to shareholders for Q1 2023 was CNY 183,793,942.25, a significant increase of 151.68% from CNY 51,870,075.30 in the previous year[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 149,370,056.82, reflecting a remarkable increase of 709.25% compared to CNY 18,457,893.92 in the same period last year[24] - The weighted average return on equity for Q1 2023 was 3.19%, an increase of 2.38 percentage points from 0.96% in the previous year[27] Cash Flow and Financing - The cash flow from operating activities netted CNY 711,774,689.34, a substantial rise from CNY 190,232,150.25 in the previous year, representing an increase of about 274%[9] - The net cash flow from operating activities for Q1 2023 was CNY 711,774,689.34, up 274.16% from CNY 163,510,767.67 in the previous year[24] - The company raised CNY 620,000,000.00 through borrowings in Q1 2023, compared to CNY 149,000,000.00 in Q1 2022, indicating a significant increase in financing activities[10] Expenses and Liabilities - The financial expenses for Q1 2023 were CNY 86,124,973.65, an increase from CNY 68,890,417.75 in Q1 2022, reflecting a rise of about 25%[4] - The company incurred tax expenses of CNY 58,465,186.71 in Q1 2023, compared to CNY 20,148,551.61 in Q1 2022, which is an increase of approximately 189%[4] - The company's total liabilities amounted to ¥15,211,256,733.25, slightly down from ¥15,296,258,479.58 in the previous period[45] - Total operating costs for Q1 2023 were ¥548,254,736.86, up from ¥441,699,075.81 in Q1 2022, reflecting a year-over-year increase of 24.1%[45] Assets and Equity - The total assets at the end of Q1 2023 were CNY 21,806,006,088.45, reflecting a 0.46% increase from CNY 21,706,645,251.84 at the end of the previous year[27] - The company's cash and cash equivalents reached RMB 795,695,680.52, up from RMB 651,133,982.11 in December 2022, reflecting a growth of approximately 22.1%[40] - The company's inventory stood at RMB 3,703,385,197.69, a decrease from RMB 3,886,354,198.40 at the end of 2022, indicating a reduction of about 4.7%[40] - The company's non-current assets totaled RMB 16,702,403,970.10, an increase from RMB 16,548,020,584.05 at the end of 2022, reflecting a growth of approximately 0.9%[43] - Shareholders' equity attributable to the parent company increased to ¥5,855,984,956.66 from ¥5,669,344,571.56, marking a growth of 3.3%[45] - The company's retained earnings rose to ¥4,427,999,248.32, compared to ¥4,244,205,306.07 in the previous year, indicating an increase of 4.3%[45] Corporate Developments - The company paid CNY 835,254,300 for the second phase of the acquisition of 92.7708% equity in Xinjiang Hongnao San Railway Co., Ltd. during the reporting period[14] - The company established a new subsidiary, Guohui Ningxia Coal Storage and Distribution Co., Ltd., to fill the coal demand gap in the Ningxia region[16] - The employee stock ownership plan received a total subscription amount of CNY 192,804,780.00 from 91 employees, acquiring 37,221,000 shares[15] Shareholder Information - The company reported a total of 541,213,926 shares held by its largest shareholder, Xinjiang Guanghui Industrial Investment (Group) Co., Ltd., representing 43.13% of total shares[36]

证券代码: 600603 证券简称:广汇物流 公告编号:2023-033 投资者可于 2023 年 4 月 11 日(星期五)至 4 月 18 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 ghwl@chinaghfz.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 广汇物流股份有限公司（以下简称"公司"）已于 2023 年 4 月 11 日发布公司 2022 年度报告及 2023 年第一季度报告。为便于广大 投资者更全面深入地了解公司2022 年度及2023 年第一季度的经营成 果、财务状况、发展战略等情况，公司计划于 2023 年 4 月 19 日下午 16:00-17:00 举行 2022 年度及 2023 年第一季度业绩说明会，就投资 者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度 及 2023 年第一季度的经营成果、财务状况、发展战略的具体情况与 广汇物流股份有限公司关于召开 2022 年度及 2023 年 第一季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥102,945,558.82, a decrease of 84.54% compared to ¥665,737,861.64 in the same period last year[4] - Net profit attributable to shareholders was ¥25,114,521.73, down 64.45% from ¥72,179,518.33 year-on-year[4] - The net profit after deducting non-recurring gains and losses was -¥6,385,711.90, representing a decline of 109.02% compared to ¥70,803,227.91 in the previous year[4] - Basic earnings per share decreased by 66.67% to ¥0.02 from ¥0.06 in the same quarter last year[4] - The net cash flow from operating activities was ¥309,900,904.37, down 67.71% from ¥961,521,674.94 year-to-date[4] - Total operating revenue for the first three quarters of 2022 was approximately CNY 471.58 million, a significant decrease from CNY 2,249.99 million in the same period of 2021, representing a decline of about 79.0%[38] - Total operating costs for the first three quarters of 2022 were CNY 427.86 million, compared to CNY 1,684.33 million in 2021, indicating a reduction of approximately 74.6%[38] - Net profit for the third quarter of 2022 was CNY 122.65 million, down from CNY 412.03 million in the same quarter of 2021, reflecting a decrease of about 70.2%[40] - Basic earnings per share for the third quarter of 2022 were CNY 0.10, compared to CNY 0.34 in the same quarter of 2021, a decline of approximately 70.6%[42] - Cash flow from operating activities for the first three quarters of 2022 was CNY 309.90 million, a decrease from CNY 959.76 million in the same period of 2021, representing a decline of about 67.7%[47] - Sales revenue from goods and services received in cash for the first three quarters of 2022 was CNY 1,345.85 million, down from CNY 3,299.07 million in 2021, indicating a decrease of approximately 59.3%[47] - Total profit for the third quarter of 2022 was CNY 169.67 million, compared to CNY 527.04 million in the same quarter of 2021, reflecting a decrease of about 67.8%[40] Asset and Liability Overview - Total assets at the end of the reporting period were ¥14,888,782,562.90, a slight decrease of 0.19% from ¥14,916,393,362.19 at the end of the previous year[4] - The company reported a total current asset of ¥7,642,576,376.91 as of September 30, 2022, a decrease from ¥7,976,527,549.18 at the end of 2021[29] - Cash and cash equivalents decreased to ¥1,325,367,617.89 from ¥1,820,193,943.95 year-over-year[29] - Long-term equity investments increased significantly to ¥510,453,718.47 from ¥190,986,903.10 year-over-year[29] - The company’s total liabilities decreased to ¥8,722,254,983.12 from ¥8,879,446,502.93 year-over-year[34] - The company’s equity attributable to shareholders increased to ¥5,503,080,897.06 from ¥5,371,593,582.98 year-over-year[34] - The company has a total inventory of ¥5,319,584,638.37, showing a slight increase from ¥5,189,573,131.74 year-over-year[29] - The company’s contract liabilities rose to ¥3,595,068,086.53 from ¥2,964,567,961.77 year-over-year[33] Strategic Transition - The company plans to focus on energy logistics as a new revenue growth point, transitioning from real estate development[11] - The company reported a significant decline in both revenue and net profit due to the cyclical nature of real estate project revenue recognition[11] - A cooperation agreement was signed on July 15, 2022, for the Sichuan Guangyuan Comprehensive Logistics Base project, marking a strategic shift towards energy logistics[22] - The company established a subsidiary, Guangyuan Logistics, on August 4, 2022, focusing on coal storage and operations, supporting its transition to energy logistics[22] - A leasing agreement was signed on September 30, 2022, for the Guazhou Logistics Liugou Park, enhancing the company's capabilities in coal and related product storage and transportation[23] - The Guazhou Liugou Logistics Park is strategically located to form a transportation network with the upcoming Ningxia Comprehensive Base, optimizing coal transportation efficiency[25] - The company aims to leverage existing railway resources and logistics bases to minimize costs and enhance operational flexibility during its strategic transition[25] - The company is focused on integrating internal resources to reduce trial-and-error costs during its strategic transformation[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,328, with the largest shareholder holding 43.13% of the shares[12] - The company reported a total of 541,213,926 shares held by its largest shareholder, Xinjiang Guanghui Industrial Investment Group[19] - The company has a diverse shareholder base, with significant holdings from various institutional and individual investors[19] Asset Restructuring - The company completed a significant asset restructuring on May 30, 2022, with the approval of the board for the major asset purchase and related transactions[20] - The company holds a 92.7708% stake in the Hongnao Railway Company as of October 17, 2022, following the completion of asset delivery despite delays due to the COVID-19 pandemic[21] Cash Flow and Investment Activities - The cash outflow from investment activities totaled $345,613,466.41, a decrease from $549,095,635.66 in the previous period, indicating a reduction in investment spending[48] - The net cash flow from financing activities was -$481,872,568.25, compared to -$2,185,198,685.97 in the prior period, showing an improvement in financing cash flow[48] - The total cash and cash equivalents at the end of the period were $924,962,898.02, down from $1,339,364,863.94, reflecting a decrease in liquidity[48] - The company received $696,417,119.77 in cash from financing activities, a decline from $878,459,055.45 in the previous period, indicating reduced capital inflow[48] - Cash paid for debt repayment was $593,035,187.60, significantly lower than $1,181,827,410.46 in the previous period, suggesting a decrease in debt servicing[48] - The cash outflow for the acquisition of fixed assets, intangible assets, and other long-term assets was $26,273,466.41, compared to $110,038,455.30 previously, indicating a reduction in capital expenditures[48] - The net cash flow from investment activities was -$345,352,414.41, contrasting with a positive cash flow of $314,277,473.67 in the prior period, highlighting a shift in investment strategy[48] - The company reported cash inflows from other financing activities amounting to $500,487,439.77, an increase from $144,789,470.04, indicating enhanced financing operations[48] - The total cash outflow from financing activities was $1,178,289,688.02, down from $3,063,657,741.42, reflecting a significant reduction in financing outflows[48] - The beginning cash and cash equivalents balance was $1,442,286,976.31, compared to $2,250,529,212.67 in the previous period, indicating a decrease in available cash at the start of the period[48]

Financial Performance - Guanghui Logistics reported a total revenue of 1.2 billion RMB for the first half of 2022, representing a year-on-year increase of 15%[17]. - The company's net profit for the same period reached 200 million RMB, up 10% compared to the previous year[17]. - Future guidance estimates a revenue growth of 20% for the full year 2022, targeting 2.4 billion RMB[17]. - The company's operating revenue for the first half of the year was ¥368,635,523.51, a decrease of 76.73% compared to ¥1,583,946,910.08 in the same period last year[24]. - The net profit attributable to shareholders was ¥99,443,112.35, down 70.39% from ¥335,791,991.44 year-on-year[24]. - The net profit after deducting non-recurring gains and losses was ¥35,095,312.86, reflecting a significant decline of 89.27% compared to ¥327,181,380.87 in the previous year[24]. - The net cash flow from operating activities was ¥345,084,195.90, a decrease of 52.78% from ¥730,782,859.77 in the same period last year[24]. - The basic earnings per share decreased to ¥0.08, down 71.43% from ¥0.28 in the same period last year[24]. - The weighted average return on net assets was 1.83%, a decrease of 3.01 percentage points from 4.84% year-on-year[24]. Strategic Initiatives - Guanghui Logistics plans to expand its market presence by entering three new provinces by the end of 2022[17]. - The company is investing 100 million RMB in new technology development to enhance logistics efficiency and tracking systems[17]. - The company is actively exploring potential mergers and acquisitions to strengthen its market position[17]. - The company aims to become a leading energy logistics service provider along the "Belt and Road" initiative, capitalizing on the coal production bases in Xinjiang[32]. - The company has established a strategic transformation towards energy logistics, leveraging the Belt and Road Initiative and domestic dual circulation policies to enhance its operations in the energy logistics sector[40]. - The company plans to invest approximately CNY 5.5 billion in the Sichuan Guangyuan comprehensive logistics base project, which aims to fill the coal demand gap in the Sichuan-Chongqing region and enhance operational capacity to 20-30 million tons[50]. - The company is developing a comprehensive logistics system with three major coal transportation corridors and four logistics bases to improve coal supply capabilities nationwide[52]. - The company aims to utilize various transportation tools and public-rail intermodal transport to increase efficiency in coal logistics[51]. Market and Operational Challenges - The management has outlined potential risks in the report, including market competition and regulatory changes[9]. - The company is transitioning towards an energy logistics company, focusing on leveraging natural resource advantages in Xinjiang to support national green and low-carbon development[25]. - The company has not added new real estate development projects since 2020, leading to a decline in revenue and net profit due to the cyclical nature of real estate project revenue recognition[25]. - The company faces risks from potential changes in national policies affecting the railway transportation industry, which could impact market space and profitability[90]. - The company is exposed to risks from fluctuations in coal demand, which is closely tied to the economic cycle and could affect railway transportation needs[90]. - The real estate market is under pressure due to macroeconomic policies, with expectations of a downturn in sales and prices[91]. - Cold chain logistics projects may face operational risks due to unexpected events like pandemics, affecting business continuity[92]. Related Party Transactions and Governance - No non-operating fund occupation by controlling shareholders or related parties was reported[9]. - The company has not proposed any profit distribution or capital reserve transfer plans for this reporting period[8]. - The company has established measures to address potential conflicts of interest arising from related party transactions, including strict adherence to legal procedures and fair market principles[113]. - The company has committed to compensating any losses incurred by its subsidiaries due to violations of these commitments[114]. - The company has pledged to supervise and restrict the business activities of its related enterprises to prevent competition[111]. - The total amount of related party transactions during the reporting period was CNY 82,364,580.12, which did not exceed the estimated amount at the beginning of the year[140]. - The actual amount for heating fees paid to Xinjiang Huixin Heating Co., Ltd. was CNY 1,852,034.15, compared to the estimated amount of CNY 3,392,000.00[140]. - The actual amount for property services and related fees paid to Xinjiang Guanghui Property Management Co., Ltd. was CNY 7,245,201.89, against an estimated amount of CNY 21,014,000.00[140]. Legal Matters - The company has initiated lawsuits involving a total amount of 33,145.58 million yuan, with 78 cases filed by the company and 86 cases against it[136]. - The total amount involved in the lawsuits is 39,054.66 million yuan, of which 2,595.89 million yuan has been executed[136]. - The company has ongoing litigation or arbitration matters totaling 164 cases, indicating active legal engagement[136]. - The company has reached a settlement with Manas County Fengyi Trading Co., Ltd., reducing the amount owed from 1,700 million yuan to 350 million yuan[134]. - The company maintains a good integrity status, with no reported violations or penalties against its management or controlling shareholders[139]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 29,801[167]. - The largest shareholder, Xinjiang Guanghui Industrial Investment (Group) Co., Ltd., holds 541,213,926 shares, accounting for 43.13% of total shares[167]. - The second largest shareholder, Xinjiang Cuijin Investment Co., Ltd., holds 81,545,320 shares, representing 6.50% of total shares[167]. - There were no changes in the controlling shareholder or actual controller during the reporting period[169]. Asset and Liability Overview - The company's total assets at the end of the reporting period were ¥14,939,959,211.73, a slight increase of 0.16% from ¥14,916,393,362.19 at the end of the previous year[24]. - Long-term equity investments increased by 57.89% to CNY 301,546,419.76 from CNY 190,986,903.10, mainly due to new investments in the railway project[78]. - Total liabilities decreased slightly to ¥8,797,921,434.50 from ¥8,879,446,502.93, a decline of 0.92%[182]. - Owner's equity increased to ¥6,142,037,777.23 from ¥6,036,946,859.26, showing a growth of 1.74%[182].

Financial Performance - The company's operating revenue for Q1 2022 was ¥204,127,062.23, a decrease of 71.13% compared to ¥706,881,972.28 in the same period last year[6]. - Net profit attributable to shareholders was ¥51,870,075.30, down 66.21% from ¥154,737,104.72 year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥18,457,893.92, a decline of 87.51% compared to ¥148,988,842.60 in the previous year[6]. - The basic earnings per share decreased by 69.23% to ¥0.04 from ¥0.13 in the same period last year[9]. - The diluted earnings per share also fell by 69.23% to ¥0.04 from ¥0.13 year-on-year[9]. - Operating profit for Q1 2022 was CNY 68,502,160.71, compared to CNY 203,958,409.65 in Q1 2021, indicating a decline of 66.4%[39]. - Net profit for Q1 2022 was CNY 68,861,681.51, down from CNY 205,143,016.29 in Q1 2021, reflecting a decrease of 66.5%[39]. - The total comprehensive income for Q1 2022 was approximately ¥51.74 million, down from ¥156.84 million in Q1 2021, indicating a decrease of approximately 67.0%[40]. Cash Flow - The net cash flow from operating activities was ¥163,510,767.67, a significant improvement from a negative cash flow of -¥365,022,386.73 in the previous year[9]. - Cash inflows from operating activities in Q1 2022 totaled approximately ¥767.36 million, down from ¥1,145.74 million in Q1 2021, a decrease of about 33.0%[44]. - Cash outflows from operating activities in Q1 2022 were approximately ¥603.85 million, compared to ¥1,511.33 million in Q1 2021, indicating a reduction of about 60.0%[44]. - The net cash flow from operating activities for Q1 2022 was approximately ¥163.51 million, a significant improvement from a net outflow of ¥365.59 million in Q1 2021[44]. - Cash inflows from investing activities in Q1 2022 were approximately ¥461.93 million, while cash outflows were about ¥45.99 million, resulting in a net cash outflow of approximately ¥46.00 million, compared to a net inflow of ¥403.53 million in Q1 2021[46]. - Cash inflows from financing activities in Q1 2022 totaled approximately ¥149.00 million, a slight decrease from ¥159.72 million in Q1 2021[46]. - The net cash flow from financing activities for Q1 2022 was approximately -¥111.34 million, an improvement from -¥207.07 million in Q1 2021[46]. - The ending cash and cash equivalents balance for Q1 2022 was approximately ¥1.45 billion, compared to ¥2.08 billion at the end of Q1 2021, reflecting a decrease of about 30.5%[46]. Assets and Liabilities - Total assets at the end of the reporting period were ¥15,100,806,111.44, an increase of 1.24% from ¥14,916,393,362.19 at the end of the previous year[9]. - Total liabilities rose to CNY 9,012,118,545.31 in Q1 2022, compared to CNY 8,879,446,502.93 in Q1 2021, an increase of 1.5%[35]. - Non-current assets totaled CNY 6,968,516,117.80 in Q1 2022, up from CNY 6,939,865,813.01 in Q1 2021, a rise of 0.4%[35]. - Current liabilities increased to CNY 7,258,314,596.95 in Q1 2022 from CNY 7,010,347,267.27 in Q1 2021, representing a growth of 3.5%[35]. - The company held a total of 8,132,289,993.64 RMB in current assets as of March 31, 2022, an increase from 7,976,527,549.18 RMB as of December 31, 2021, reflecting a growth of approximately 1.96%[30]. - The company's cash and cash equivalents amounted to 1,838,494,571.88 RMB as of March 31, 2022, compared to 1,820,193,943.95 RMB at the end of 2021, indicating a slight increase of about 1%[30]. - The inventory value reached 5,332,020,088.28 RMB as of March 31, 2022, up from 5,189,573,131.74 RMB at the end of 2021, representing an increase of approximately 2.74%[30]. - The company reported accounts receivable of 352,960,093.75 RMB as of March 31, 2022, a decrease from 394,253,000.21 RMB at the end of 2021, which is a decline of about 10.5%[30]. - The company reported a decrease in other receivables to 88,000,203.30 RMB as of March 31, 2022, down from 98,357,229.96 RMB at the end of 2021, reflecting a decline of approximately 10.3%[30]. Shareholder Actions - The company completed the repurchase and cancellation of 3,918,000 restricted shares and stock options in April 2022, as part of its strategy to manage equity compensation[20]. - The company plans to reduce shares held by major shareholders, with a maximum of 12,569,500 shares (1% of total shares) to be sold between March 14 and June 11, 2022[21]. Project Developments - The company has ongoing real estate projects with new signed areas totaling 9,077.00 square meters and a new contract amount of 129,071,904.00 RMB for the Guanghui Yuyuan project[27]. - The company is involved in a land development project in Urumqi, with a total area of 38,566.75 square meters and a planned construction area of 99,753.94 square meters, holding a 60% interest in the project[26]. - The company has agreed to change the payment method for part of the equity transfer related to its subsidiary, allowing for a debt extension arrangement of 910 million RMB[25]. Revenue and Cost Analysis - Total revenue for Q1 2022 was CNY 204,127,062.23, a decrease of 71.1% compared to CNY 706,976,826.68 in Q1 2021[35]. - Total operating costs for Q1 2022 were CNY 195,787,861.49, down from CNY 506,998,355.02 in Q1 2021, representing a 61.4% reduction[39]. - The significant decline in revenue and profit was mainly attributed to a decrease in property sales during the reporting period[12].

Financial Performance - Guanghui Logistics achieved a net profit attributable to shareholders of the parent company of ¥572,899,249.86 in 2021[7]. - The company's operating revenue for 2021 was approximately CNY 3.32 billion, a decrease of 24.51% compared to 2020[27]. - The net profit attributable to shareholders of the listed company was approximately CNY 572.90 million, down 30.46% from the previous year[27]. - The net cash flow from operating activities was approximately CNY 1.34 billion, reflecting a decline of 20.74% year-on-year[27]. - The total assets at the end of 2021 were approximately CNY 14.92 billion, a decrease of 17.55% compared to the end of 2020[27]. - The basic earnings per share for 2021 was CNY 0.48, down 30.43% from CNY 0.69 in 2020[27]. - The weighted average return on equity decreased to 7.67%, down 3.56 percentage points from the previous year[27]. - The company reported a net profit of CNY 154.74 million in Q1 2021, with a significant increase in cash flow from operating activities in Q2 2021[29]. - Non-recurring gains and losses for 2021 included government subsidies amounting to CNY 69.45 million[31]. - The company experienced a significant decline in net assets attributable to shareholders, which were approximately CNY 5.37 billion at the end of 2021, down 26.83% from the previous year[27]. Debt and Cash Flow - The company faces a total of ¥941 million in short-term debts and interest due within the next year[7]. - The ongoing construction of the "Urumqi North Station Comprehensive Logistics Base Project" (Phase II) requires a repayment of ¥505 million in raised funds[7]. - The company's cash and cash equivalents decreased by 29.93% to CNY 1,820,193,943.95 compared to the previous period[85]. - The net cash flow from investing activities was CNY -857,256,634.16, a decrease of CNY 358,910,953.51, primarily due to the acquisition of subsidiaries[84]. - The net cash flow from financing activities was CNY -1,286,364,801.35, an increase of CNY 428,132,326.72, mainly due to dividend distribution and interest payments[84]. Strategic Focus and Market Development - The company plans to focus on market expansion and new product development in the upcoming fiscal year[29]. - The company is adapting to the changing market conditions by enhancing risk management and focusing on strategic transformation[38]. - The company plans to leverage the growth opportunities in the cold chain logistics sector, especially following the release of the "14th Five-Year" cold chain logistics development plan[43]. - The company is exploring potential mergers and acquisitions to strengthen its market position, with a focus on logistics and supply chain companies[149]. - The company aims to enhance its logistics operations by optimizing the park's business mix and accelerating the layout of cold chain logistics projects[198]. Real Estate and Construction Projects - The company is focusing on the development of the Urumqi Airport Economic Demonstration Zone, which covers an area of 135.6 square kilometers, aiming to enhance its strategic position as a key node in the Silk Road Economic Belt[41]. - The company signed a compensation agreement with the government for the relocation of the Meiju Logistics Park, aiming to transform it into a large urban complex integrating CBD, TBD, RBD, and CLD[48]. - The company maintained steady progress in real estate projects, with successful sales in multiple developments, including the Xuelian Tianfu project, which achieved near sell-out within a year[52]. - The company has ongoing real estate development projects in multiple regions, with a total planned construction area of approximately 1,316,852.85 square meters[94]. Governance and Compliance - The board of directors and management have confirmed the accuracy and completeness of the financial report[4]. - The company has received a standard unqualified audit report from Da Xin Accounting Firm[6]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[125]. - The company maintains independence from its controlling shareholder, with no non-operational fund occupation or guarantees provided to related parties[130]. - The audit committee confirmed that the total amount of related party transactions for 2020 was CNY 548.05 million, with an estimated CNY 919.88 million for 2021[165]. Employee and Management - The total number of employees at the parent company and major subsidiaries is 709, with 502 in production roles and 125 in technical roles[170]. - The company has a total of 1 employee with a doctoral degree, 22 with master's degrees, and 323 with bachelor's degrees[173]. - Total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 8.1996 million yuan[156]. - The remuneration for directors and supervisors is determined by the shareholders' meeting, while senior management remuneration is decided by the board of directors[156]. Future Outlook - Future outlook includes a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[149]. - The company plans to increase its workforce by 15% to support growth initiatives and improve service delivery[149]. - The company aims to reduce operational costs by 10% through process optimization and technology integration in the next year[149]. - The company is committed to accelerating the de-stocking of its real estate projects, ensuring high-quality delivery of key projects[119].

Financial Performance - The company's operating revenue for Q3 2021 was ¥665,737,861.64, representing an increase of 89.82% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2021 was ¥72,179,518.33, reflecting a year-on-year increase of 21.75%[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥70,803,227.91, up 22.99% year-on-year[6]. - Total operating revenue for the first three quarters of 2021 reached CNY 2,249,518,170.40, an increase from CNY 1,625,342,859.76 in the same period of 2020, representing a growth of approximately 38.4%[33]. - The company's net profit attributable to shareholders for the first three quarters of 2021 was not explicitly stated but can be inferred from the increase in retained earnings to CNY 4,293,545,003.33 from CNY 4,242,761,049.72[33]. - Net profit attributable to shareholders of the parent company was ¥409,444,498.91, up from ¥335,317,829.25, reflecting a growth of about 22.1%[37]. - The total comprehensive income attributable to the parent company's owners was ¥409,444,498.91, compared to ¥335,317,829.25 in the same period last year, indicating a year-over-year increase of approximately 22.1%[38]. Assets and Liabilities - The total assets at the end of the reporting period were ¥16,281,351,594.13, a decrease of 5.37% compared to the end of the previous year[9]. - The company's total assets as of September 30, 2021, amounted to CNY 16,281,351,594.13, a decrease from CNY 17,205,922,807.91 at the end of the previous period[31]. - Current assets totaled CNY 9,359,352,171.19, down from CNY 10,794,583,397.93, reflecting a decline of approximately 13.3%[28]. - The total liabilities of the company were CNY 9,111,280,737.63, down from CNY 10,090,343,662.34, representing a decrease of about 9.7%[31]. Shareholder Information - The company had a total of 28,509 common shareholders at the end of the reporting period[13]. - The company reported a total of 541,213,926 shares held by its largest shareholder, Xinjiang Guanghui Industrial Investment (Group) Co., Ltd.[16]. - Xinjiang Guanghui Industrial Investment (Group) Co., Ltd. holds 453,213,926 shares through a regular account and 88,000,000 shares through a margin account[18]. - The company’s top ten shareholders include various investment funds and financial institutions, indicating a diverse shareholder base[16]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥961,521,674.94, showing a decline of 4.86% compared to the previous year[6]. - Cash flow from operating activities for the first nine months was ¥961,521,674.94, slightly down from ¥1,010,686,821.04 in the previous year, a decrease of about 4.9%[41]. - Cash flow from investing activities generated a net inflow of ¥314,277,473.67, compared to ¥173,927,717.60 in the previous year, showing an increase of approximately 80.5%[42]. - Cash flow from financing activities resulted in a net outflow of ¥-2,186,266,487.28, compared to ¥-2,254,456,639.61 in the previous year, indicating a slight improvement[42]. Operational Highlights - The company reported a significant increase in real estate sales revenue, which was the main driver for the growth in operating revenue[12]. - The company has ongoing cooperative development projects in Urumqi New District, with a total new signed area of 154,320.45 square meters and a new signed amount of 1,970,955,643.22 RMB[19]. - The company signed a compensation agreement with the Urumqi government for the acquisition of 619,335.646 square meters of building area, with an annual compensation of no less than 167,029,113.54 RMB based on average profits from 2017 to 2019[21]. - The company’s subsidiary, Yazhong Logistics, purchased 65% of the shares in Xinjiang Gexin Investment Co., Ltd., which has significant land reserves for future development[21]. - The company plans to develop the Gexin project into a new logistics city, enhancing its logistics business and sustainable operational capacity[21]. - The company reported no rental business for its real estate projects during the reporting period[20]. - The company is focused on expanding its logistics and real estate development capabilities in line with regional economic strategies[21]. Cost and Expenses - Total operating costs for the first three quarters of 2021 were CNY 1,679,328,474.18, compared to CNY 1,091,764,744.93 in 2020, indicating a rise of about 53.7%[33]. - The company reported a significant increase in sales expenses to CNY 86,155,222.51 from CNY 44,930,875.88, reflecting a rise of approximately 92.2%[33]. - The company's interest expenses were ¥61,119,520.38, compared to ¥52,851,370.66 in the previous period, an increase of approximately 15.7%[36]. - The investment income decreased to ¥9,830,910.84 from ¥14,494,001.39, a decline of about 32.5%[36]. Earnings Per Share - The basic earnings per share for Q3 2021 was ¥0.06, a decrease of 20.00% compared to the same period last year[9]. - The basic and diluted earnings per share for the current period were both ¥0.34, an increase from ¥0.28 in the previous period, representing a growth of approximately 21.4%[38].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,583,780,308.76, representing a 24.25% increase compared to ¥1,274,630,432.86 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was ¥337,264,980.58, up 22.18% from ¥276,034,586.41 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was ¥327,181,380.87, which is a 15.60% increase from ¥283,038,994.81 in the same period last year[25]. - Basic earnings per share for the first half of 2021 were ¥0.28, an increase of 21.74% compared to ¥0.23 in the same period last year[25]. - Diluted earnings per share also stood at ¥0.28, reflecting the same growth rate of 21.74% from the previous year[25]. - The company achieved a revenue of 158,378.03 million yuan, representing a year-on-year increase of 24.25%[46]. - The net profit attributable to shareholders reached 33,726.50 million yuan, showing a growth of 22.18% compared to the previous year[46]. - The company reported a total comprehensive income of CNY 337,264,980.58 for the period[198]. Cash Flow and Assets - The net cash flow from operating activities decreased by 33.04%, amounting to ¥730,445,332.13 compared to ¥1,090,798,734.42 in the previous year[25]. - The total assets at the end of the reporting period were ¥16,018,098,636.30, a decrease of 6.90% from ¥17,205,922,807.91 at the end of the previous year[25]. - The net cash flow from operating activities decreased to ¥730,445,332.13, a decline of 33.04% compared to the same period last year, primarily due to increased tax payments[60]. - The company's cash and cash equivalents decreased by 36.47% to ¥1,649,637,852.10, down from ¥2,596,651,270.93 in the previous year[60]. - The company's long-term borrowings decreased by 69.13% to ¥374,980,000.00, primarily due to loan repayments[63]. - The company's cash flow from operating activities showed improvement, contributing positively to the overall financial health[170]. - The ending balance of cash and cash equivalents is CNY 1,016,977,595.57, down from CNY 1,610,509,690.66 in the previous year, representing a decrease of approximately 37%[192]. Investments and Acquisitions - The company plans to develop a new home logistics park to replace the existing one that was requisitioned, aiming to upgrade home service formats[32]. - The acquisition of Ge Xin Company by the subsidiary Yazhong Logistics is expected to enhance the logistics capabilities in the core area of Urumqi's airport economic demonstration zone[33]. - The company made a significant equity investment of ¥215,876.57 million in Xinjiang Gexin Investment Co., holding a 65% equity stake[67]. - The company is actively developing supply chain channels and has established partnerships with several large enterprises, gradually expanding its business[51]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[9]. - The company faces risks from macro policy changes that significantly impact the domestic real estate market, particularly due to policies aimed at controlling rapid increases in housing prices and land prices[78]. - Economic cyclical fluctuations pose a risk to the company's performance, as the real estate and logistics industries are closely tied to the overall economic cycle[81]. - The cold chain logistics project is facing risks related to market conditions and potential delays in project construction due to administrative changes in local government[82]. Legal Matters - The company is involved in multiple lawsuits, with claims totaling approximately ¥32,665,273.62 related to construction payments and interest[116]. - A lawsuit against Xinjiang Huayou Technology Service Co., Ltd. involves a claim of ¥24,299,645 for overdue financing payments[116]. - The company has ongoing or unresolved litigation and arbitration matters totaling 104 cases, with 74 initiated by the company involving a total amount of 381.45 million RMB[119]. - The company has engaged in pre-litigation preservation measures in multiple cases to secure potential claims[116]. Corporate Governance - The company has made long-term commitments to avoid any direct or indirect competition with its subsidiaries, ensuring no competitive business activities will occur in the future[101]. - The company has committed to not seeking preferential rights in transactions with its subsidiaries, ensuring fair market practices and compliance with legal procedures for related transactions[104]. - The company's board members and senior management have committed not to sell their shares within one year from November 3, 2020[111]. - The company has not reported any changes in the board of directors or senior management during the reporting period[152].

Financial Performance - Operating revenue for the first quarter was ¥706,881,972.28, representing a significant increase of 68.12% year-on-year[13]. - Net profit attributable to shareholders was ¥154,737,104.72, an increase of 11.41% compared to the same period last year[13]. - Basic earnings per share rose to ¥0.13, an increase of 8.33% year-on-year[13]. - The company reported a total comprehensive income of ¥7,415,751.81, compared to ¥9,065,588.70, indicating a decline of approximately 18.2% year-over-year[49]. - Net profit for Q1 2021 was ¥158,709,100.93, representing a 14.4% increase from ¥138,743,344.55 in Q1 2020[44]. - The gross profit margin for Q1 2021 was approximately 28.5%, compared to 37.5% in Q1 2020[44]. - Earnings per share for Q1 2021 were ¥0.13, an increase from ¥0.12 in Q1 2020[45]. Cash Flow - The net cash flow from operating activities was negative at -¥365,022,386.73, compared to -¥281,007,926.88 in the previous year[13]. - Cash inflow from operating activities totaled ¥1,143,451,693.51, significantly higher than ¥462,271,018.63 in the previous year, marking an increase of about 147%[53]. - Cash outflow from operating activities was ¥1,508,474,080.24, compared to ¥743,278,945.51, resulting in a net cash flow from operating activities of -¥365,022,386.73[53]. - Cash inflow from investment activities was ¥461,932,335.30, down from ¥1,125,395,849.70, reflecting a decrease of approximately 59% year-over-year[53]. - Cash outflow from investment activities totaled ¥58,401,777.29, compared to ¥1,468,283,128.73, indicating a significant reduction in investment spending[53]. - Net cash flow from financing activities was -¥207,068,908.71, contrasting with a positive cash flow of ¥39,938,364.93 in the previous year[55]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥17,236,297,893.33, a slight increase of 0.18% compared to the end of the previous year[13]. - Current liabilities decreased to ¥7,812,592,530.20 from ¥7,903,781,613.34, a reduction of about 1.15%[33]. - Non-current liabilities decreased to ¥2,147,333,584.73 from ¥2,186,562,049.00, showing a decline of approximately 1.79%[35]. - Total liabilities decreased to ¥9,959,926,114.93 from ¥10,090,343,662.34, a decrease of about 1.30%[35]. - Owner's equity increased to ¥7,276,371,778.40 from ¥7,115,579,145.57, representing an increase of approximately 2.26%[35]. - Cash and cash equivalents decreased to ¥1,442,792,617.11 from ¥1,657,575,978.65, a decline of about 12.93%[35]. Shareholder Information - The total number of shareholders at the end of the reporting period was 27,977[18]. - The largest shareholder, Xinjiang Guanghui Industrial Investment (Group) Co., Ltd., holds 43.06% of the shares[18]. Other Financial Metrics - The weighted average return on equity increased to 2.26%, up by 0.14 percentage points from the previous year[13]. - The company received government subsidies amounting to ¥428,056.55, which are closely related to its normal business operations[13]. - The company reported a total of ¥5,748,262.12 in non-recurring gains and losses during the reporting period[17]. - The financial expenses increased by 69.11% to ¥4,954,926.71 from ¥2,930,026.91, influenced by increased interest income and capitalized loan interest expenses[23]. - The company reported a financial expense of ¥4,954,926.71 in Q1 2021, up from ¥2,930,026.91 in Q1 2020[44]. - The investment income for Q1 2021 was ¥1,487,477.19, a decrease from ¥9,788,554.80 in Q1 2020[44]. - The company recorded a tax expense of ¥48,306,359.44 for Q1 2021, compared to ¥35,770,822.24 in Q1 2020, indicating an increase of 35%[44].