Financial Performance - Net profit attributable to shareholders was ¥20,263,526.88, a significant recovery from a loss of ¥33,042,189.43 in the same period last year[7]. - Operating revenue for the first nine months was ¥15,420,606.76, down 11.63% from ¥17,450,746.05 in the previous year[7]. - The weighted average return on net assets improved to 7.26%, an increase of 17.81 percentage points compared to -10.55% in the previous year[8]. - Basic and diluted earnings per share were both ¥0.1456, recovering from a loss of ¥0.2375 per share in the same period last year[8]. - Net profit for the first three quarters of 2019 was CNY 13,904,499.47, a decrease from CNY 479,295.06 in the same period last year[28]. - The net profit for Q3 2019 was a loss of CNY 3,829,794.79, compared to a loss of CNY 14,995,393.71 in the same period last year, showing an improvement of about 74%[30]. - The total profit for Q3 2019 was a loss of CNY 3,829,794.79, while the total profit for Q3 2018 was a loss of CNY 9,291,499.52, indicating a reduction in losses by approximately 59%[30]. - The company's basic earnings per share for Q3 2019 was -0.0273, compared to -0.1065 in Q3 2018, reflecting an improvement in earnings per share[30]. - The total comprehensive income for Q3 2019 was a loss of CNY 3,829,794.79, compared to a loss of CNY 14,995,393.71 in Q3 2018, marking a significant reduction in comprehensive losses[30]. Cash Flow and Liquidity - Cash flow from operating activities showed a negative net amount of ¥11,087,349.17, worsening from a negative cash flow of ¥4,579,038.73 in the previous year[7]. - The net cash flow from operating activities for the first three quarters of 2019 was -11,087,349.17 RMB, compared to -4,579,038.73 RMB in the same period of 2018, indicating a decline in operational performance[35]. - Cash inflow from operating activities totaled 19,640,284.39 RMB, while cash outflow was 30,727,633.56 RMB, resulting in a negative cash flow from operations[35]. - The company’s cash flow from other operating activities was 3,213,992.14 RMB, a decrease from 8,586,147.16 RMB in the previous year[35]. - The company’s cash flow from financing activities was negative, with cash outflows totaling 6,957,177.50 RMB, indicating a reduction in financing activities[36]. - The total cash and cash equivalents at the end of the period increased to 208,158,674.51 RMB from 181,399,385.44 RMB at the end of the previous year[36]. - The total cash and cash equivalents at the end of the period increased to 202,911,181.84 RMB, up from 177,857,032.25 RMB at the end of the previous year[38]. - Cash outflow from operating activities was 13,884,608.88 RMB, slightly lower than 14,708,538.98 RMB in the previous year, showing improved cash management[38]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥487,985,531.07, an increase of 2.97% compared to the end of the previous year[7]. - Total liabilities decreased to CNY 132,121,440.10 from CNY 136,887,445.88 year-over-year[27]. - The owner's equity totaled 296,403,253.24 RMB, unchanged from the previous year, indicating stability in shareholder value[42]. - The total assets amounted to 473,925,724.02 RMB, remaining stable compared to the previous year[42]. - The total liabilities were recorded at 177,522,470.78 RMB, consistent with the previous year's figures[42]. - The balance of intangible assets decreased by 100% compared to the beginning of the year, primarily due to the disposal of subsidiary Xinya Fast Food[14]. - The balance of employee compensation payable decreased by 60% compared to the beginning of the year, mainly due to salary payments during the reporting period[14]. Investments and Income - The company disposed of non-current assets, generating a profit of ¥10,710,002.11 primarily from the sale of equity in a subsidiary[9]. - Investment income increased by 2801% year-on-year, mainly due to the disposal of equity in Xinya Fast Food[15]. - The fair value change income increased by 45.45 million yuan year-on-year, mainly due to significant changes in the fair value of financial instruments held by the company[15]. - The company expects to achieve a profit of 1,033,000 yuan from the transfer of equity in Xinya Fast Food by the end of the reporting period[18]. - The company reported a significant increase in cash inflow from investment activities, totaling 42,074,307.34 RMB, compared to only 3,855,815.06 RMB in the previous year[36]. - The net cash flow from investment activities was 42,272,192.79 RMB, a substantial improvement from -13,660,603.46 RMB year-over-year[38]. Shareholder Information - The total number of shareholders at the end of the reporting period was 12,232, indicating a stable shareholder base[11]. - The largest shareholder, Xinda Investment Co., Ltd., held 40.68% of the shares, totaling 56,606,455 shares[11]. - Shareholders' equity increased to CNY 284,018,070.14 from CNY 268,338,778.87 compared to the previous year[28]. Operational Changes - The company plans to issue shares to acquire 100% equity of Liaoning SANSAN Industrial Co., Ltd. as part of its asset acquisition and related party transaction plan[18]. - The company implemented new financial and revenue recognition standards, which may impact future financial reporting[39]. - The company has implemented a new leasing standard effective January 1, 2019, reclassifying applicable items from long-term prepaid expenses to right-of-use assets[47]. - The company did not apply the new financial instruments standard or the new leasing standard for retrospective adjustments[48].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥15,105,177.26, a decrease of 6.88% compared to ¥16,221,165.02 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥24,067,104.59, a significant improvement from a loss of ¥18,218,899.54 in the previous year[19]. - The basic earnings per share for the first half of 2019 was ¥0.1730, compared to a loss of ¥0.1309 in the same period last year[20]. - The weighted average return on net assets increased to 8.57%, up by 14.21 percentage points from -5.64% in the previous year[20]. - The company reported a significant increase in operating costs, which rose by 133.34% to CNY 13.86 million due to increased sales costs[29]. - The company achieved a total revenue of CNY 15.11 million in the first half of 2019, a decrease of 6.88% compared to the same period last year[29]. - The net profit attributable to the parent company was CNY 2.41 million, with earnings per share of CNY 0.17 and a weighted average return on equity of 8.57%[27]. - The company reported a total of CNY 105,719,747.27 in other payables, which remained relatively stable compared to CNY 105,919,685.92[60]. - The total comprehensive income for the first half of 2019 amounted to ¥19,523,307.62[87]. Cash Flow - The net cash flow from operating activities was -¥8,282,212.27, worsening from -¥2,264,250.84 in the same period last year[19]. - Operating cash inflow for the first half of 2019 was CNY 18,612,288.39, an increase from CNY 15,107,786.01 in the same period of 2018, representing a growth of approximately 16.6%[72]. - Total operating cash outflow for the first half of 2019 was CNY 26,894,500.66, compared to CNY 17,372,036.85 in the first half of 2018, indicating a significant increase of about 54.5%[73]. - Cash inflow from investment activities in the first half of 2019 totaled CNY 11,135,311.44, a substantial increase from CNY 3,346,384.50 in the first half of 2018, marking a growth of approximately 232.5%[73]. - The net increase in cash and cash equivalents for the first half of 2019 was CNY 2,796,897.17, compared to a decrease of -CNY 9,692,571.02 in the same period of 2018[73]. Assets and Liabilities - The total assets at the end of the reporting period were ¥492,596,141.52, representing a 3.94% increase from ¥473,925,724.02 at the end of the previous year[19]. - The total current assets as of June 30, 2019, amount to RMB 451,985,896.93, an increase from RMB 432,355,315.93 as of December 31, 2018[59]. - Total liabilities amounted to CNY 172,151,944.29, a slight decrease from CNY 177,522,470.78 in the previous period[60]. - The total equity attributable to shareholders increased to CNY 293,034,371.50 from CNY 268,917,266.91, reflecting a growth of approximately 9.0%[61]. - The cash and cash equivalents stood at CNY 163,615,307.21, down from CNY 172,105,497.75, a decrease of about 4.0%[62]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,105[52]. - The top shareholder, Xinda Investment Co., Ltd., holds 40.68% of shares, totaling 56,606,455 shares[53]. - The company did not propose any profit distribution or capital reserve transfer plans for the half-year[44]. - The company reported a profit distribution of ¥6,957,177.50 to shareholders during the first half of 2019[88]. Risks and Future Outlook - The company has indicated potential risks in its future operations and development strategies, advising investors to be cautious[7]. - Market risks include potential declines in demand due to slower economic growth in China and uncertainties in the global economy[40]. - The company expects to achieve profitability for the year, driven by significant investment income and fair value changes in financial assets[39]. Accounting Policies and Standards - The financial statements are prepared in accordance with the relevant accounting standards, reflecting the company's financial position and operating results accurately[96]. - The company has implemented the new leasing standards effective January 1, 2019, which did not have a significant impact on financial data[48]. - The company recognizes foreign currency translation differences as other comprehensive income when there are significant foreign currency monetary items related to foreign operations[112]. Inventory and Receivables - The company’s inventory stands at RMB 65,060,649.94, showing a minor decrease from RMB 65,191,808.30[59]. - The total accounts receivable at the end of the period was ¥845,415.75, with a significant portion of ¥636,065.27 (75.24%) being individually assessed for bad debt provision[195]. - The company has a bad debt provision ratio of 1.55% for accounts receivable, with specific provisions for different aging categories[198].

Financial Performance - Operating revenue decreased by 93.31% to CNY 990,055.23 compared to the same period last year[7] - Net profit attributable to shareholders increased by 661.78% to CNY 31,655,925.66 compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 2,086.44% to CNY 21,196,982.90 compared to the same period last year[7] - Total revenue for Q1 2019 was CNY 990,055.23, a significant decrease of 93.3% compared to CNY 14,806,579.12 in Q1 2018[26] - Operating profit for Q1 2019 reached CNY 31,580,381.62, up from CNY 9,250,535.08 in Q1 2018, representing a growth of 241.5%[27] - Net profit for Q1 2019 was CNY 31,589,835.22, compared to CNY 6,678,433.75 in Q1 2018, indicating an increase of 373.5%[27] - Basic and diluted earnings per share for Q1 2019 were both CNY 0.2275, compared to CNY 0.0299 in Q1 2018, reflecting a growth of 660.4%[28] - The total profit for Q1 2019 was CNY 26,408,497.51, compared to CNY 2,783,228.85 in Q1 2018, indicating a significant increase[30] Assets and Liabilities - Total assets increased by 5.74% to CNY 501,133,975.87 compared to the end of the previous year[7] - Total assets as of March 31, 2019, were 501.13 million yuan, compared to 473.93 million yuan as of December 31, 2018[21] - Total current assets as of March 31, 2019, amounted to 460.14 million yuan, an increase from 432.36 million yuan as of December 31, 2018[20] - Total liabilities as of March 31, 2019, were 173.09 million yuan, a slight decrease from 177.52 million yuan as of December 31, 2018[21] - Total liabilities remained stable at CNY 133,355,643.15 in Q1 2019, slightly down from CNY 136,887,445.88 in Q1 2018[26] - The company’s total liabilities and equity matched the total assets at CNY 473,925,724.02[42] - Total liabilities amounted to $136,887,445.88, indicating a stable financial position[46] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 12,393,008.34, a decrease of 583.81% compared to the same period last year[7] - Net cash flow from operating activities decreased by 584% year-on-year, primarily due to the previous period's receipt of property and goods sales payments and government subsidies[15] - The net cash flow from operating activities for Q1 2019 was -CNY 12,393,008.34, a decline from CNY 2,561,570.76 in Q1 2018[33] - Cash inflow from operating activities totaled CNY 2,105,991.87 in Q1 2019, down from CNY 12,162,067.38 in the same period last year[33] - The cash outflow from operating activities increased to CNY 14,499,000.21 in Q1 2019, compared to CNY 9,600,496.62 in Q1 2018[33] - Investment activities generated a net cash flow of CNY 10,703,285.34 in Q1 2019, a significant increase from CNY 905,074.55 in Q1 2018[34] - The net cash flow from financing activities was not reported for Q1 2019, indicating no significant changes in financing operations[34] - The ending cash and cash equivalents balance for Q1 2019 was CNY 175,555,739.34, down from CNY 207,349,309.60 in Q1 2018[34] Equity and Shareholder Information - Net assets attributable to shareholders increased by 11.79% to CNY 300,623,192.57 compared to the end of the previous year[7] - The company's total equity increased to 328.04 million yuan as of March 31, 2019, from 296.40 million yuan as of December 31, 2018[21] - Owner's equity increased to CNY 294,747,276.38 in Q1 2019, up from CNY 268,338,778.87 in Q1 2018, showing a growth of 9.9%[26] - Shareholders' equity totaled CNY 296,403,253.24, including CNY 139,143,550.00 in paid-in capital[42] - Total equity reached $268,338,778.87, reflecting strong shareholder confidence[46] Other Financial Metrics - Investment income increased by 5,104% due to the disposal of equity in a subsidiary[14] - Fair value changes in financial instruments increased by 1,152% due to significant fluctuations in the fair value of held financial instruments[14] - Other income decreased by 100% year-on-year, primarily due to the receipt of government subsidies in the same period last year[15] - Income tax expenses decreased by 100% year-on-year, mainly due to a reduction in taxable income for the current period[15] - The company reported a loss of 18.22 million yuan in the same period last year, but expects to achieve profitability by the end of the next reporting period if the fair value of its financial assets does not decline significantly[17] - The company expects significant changes in cumulative net profit from the beginning of the year to the end of the next reporting period, indicating potential losses[16]

Financial Performance - In 2018, the company reported a net profit attributable to shareholders of -56,300,512.45 CNY, a decrease of 605.45% compared to the previous year[5]. - The total revenue for 2018 was 20,396,701.82 CNY, down 13.89% from 23,686,746.76 CNY in 2017[21]. - The company's net assets attributable to shareholders decreased by 19.04% to 268,917,266.91 CNY at the end of 2018[21]. - The basic earnings per share for 2018 was -0.4046 CNY, a decline of 605.12% from 0.0801 CNY in 2017[22]. - The weighted average return on equity was -18.73%, a decrease of 21.84 percentage points compared to the previous year[22]. - The company experienced a significant decline in net profit due to operational challenges and market conditions[6]. - The company achieved a total revenue of 20.40 million yuan in 2018, a decrease of 13.89% compared to the previous year[35]. - The net profit for 2018 was -5.99 million yuan, with a loss attributable to the parent company of -5.63 million yuan, resulting in an earnings per share of -0.40 yuan[35]. - The company reported a significant drop in other receivables from RMB 2,974,410.40 in 2017 to RMB 1,004,793.35 in 2018, a decrease of about 66%[133]. - The company reported a total comprehensive loss of CNY 40,916,727.92 for the current period, resulting in a net loss of CNY 23,295,802.75[170]. Cash Flow and Investments - The net cash flow from operating activities for 2018 was -5,728,125.48 CNY, an improvement from -15,006,668.70 CNY in 2017[21]. - The total investment cash flow was -13.95 million yuan, a decrease of 117.55% compared to the previous year[37]. - The cash flow from operating activities was significantly impacted by a total cash outflow of $18,308,102.83, compared to $31,839,874.08 in the previous year[154]. - The cash flow from investing activities was -13,951,898.97 million RMB in 2018, a decrease from a positive cash flow of 79,516,277.57 million RMB in 2017[151]. - The company received $1,563,234.87 in cash from investment income, a decrease from $2,780,909.94 in the previous year, indicating lower investment performance[154]. Assets and Liabilities - The total assets of the company decreased by 13.98% to 473,925,724.02 CNY at the end of 2018[21]. - The company's total assets decreased to CNY 405,226,224.75 in 2018 from CNY 463,388,049.18 in 2017, a decline of 12.5%[140]. - Total liabilities decreased from RMB 187,743,243.90 in 2017 to RMB 177,522,470.78 in 2018, a decrease of about 5%[134]. - The owner's equity decreased to CNY 268,338,778.87 in 2018 from CNY 322,611,434.18 in 2017, a reduction of 16.8%[140]. - The company’s long-term assets decreased from RMB 252,336,738.57 in 2017 to RMB 41,570,408.09 in 2018, a significant drop of about 84%[134]. Revenue Sources - The main source of revenue came from Tongda Trading with 6.10 million yuan and Guangzhou Deyu with 12.24 million yuan in sales[32]. - The company reported a significant decline in sales revenue for Tongda Trading due to the termination of agency rights for certain products[35]. - The trading business reported revenue of ¥6,096,922.44, with a gross margin of 17.70%, showing a significant decline of 39.83% compared to the previous year[40]. Dividend Policy - The company did not distribute cash dividends or bonus shares for the 2018 fiscal year[5]. - The cash dividend policy stipulates that the company will distribute at least 10% of the distributable profit as cash dividends if there are no major investment plans[62]. - The company did not propose any cash profit distribution plan for the reporting period despite having a positive profit available for distribution to ordinary shareholders[69]. Governance and Management - The company has established a clear governance structure, ensuring that all shareholders can express their opinions and exercise their voting rights[110]. - The board of directors operates independently, with no interference from the controlling shareholder, and has established various specialized committees to enhance oversight[111]. - The company has a structured decision-making process for profit distribution, requiring board approval and consideration of independent directors' opinions[64]. - The company has engaged in various investor relations activities to enhance communication and maintain a positive market image[114]. Audit and Compliance - The audit report confirms that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2018[122]. - The company has implemented necessary internal controls to prevent material misstatements in financial reporting due to fraud or error[128]. - The audit identified key audit matters, including the valuation of financial instruments, which required significant judgment and estimation by management[124]. Future Outlook - The company plans to actively explore new business opportunities in 2019 to ensure sustainable operations[36]. - The company plans to increase investment in new business and project development to ensure sustainable and stable growth[57]. - In 2019, the company aims to seek new products and expand sales revenue in its main business[58].

Financial Performance - Net profit attributable to shareholders decreased by 394.96% to CNY -33,042,189.43 for the first nine months[6] - Operating revenue for the first nine months decreased by 16.10% to CNY 17,450,746.05 compared to the same period last year[6] - Basic and diluted earnings per share were both CNY -0.2375, a decrease of 395.03%[7] - The company's cumulative net profit for the year is expected to be a loss compared to the previous year, primarily due to the absence of equity transfer investment income this period.[13] - The company reported a total profit loss of CNY 9,291,499.52 for Q3 2018, compared to a loss of CNY 1,533,775.19 in Q3 2017[25] - Net loss for Q3 2018 was CNY 14,995,393.71, compared to a net loss of CNY 2,385,340.91 in Q3 2017[25] - The total comprehensive income for the first nine months of 2018 was CNY -30,651,484.99, compared to CNY 16,874,921.59 in the same period last year, underscoring a drastic decline in overall financial health[30] Assets and Liabilities - Total assets decreased by 9.06% to CNY 501,039,615.32 compared to the end of the previous year[6] - The total assets decreased from 550.98 million yuan at the beginning of the year to 501.04 million yuan at the end of the period.[17] - The total liabilities decreased from 187.74 million yuan at the beginning of the year to 175.65 million yuan at the end of the period.[18] - Total assets decreased to CNY 421,265,062.79 from CNY 463,388,049.18 year-over-year[22] - Total liabilities decreased to CNY 136,262,291.10 from CNY 140,776,615.00 year-over-year[22] - Shareholders' equity decreased to CNY 285,002,771.69 from CNY 322,611,434.18 year-over-year[22] Cash Flow - Net cash flow from operating activities for the first nine months was CNY -4,579,038.73, an improvement from CNY -16,075,202.80 in the previous year[6] - Cash flow from operating activities for the first nine months of 2018 was CNY 8,730,852.00, a significant decrease from CNY 23,480,816.68 in the same period last year[32] - The net cash flow from operating activities for Q3 2018 was -4,579,038.73 RMB, compared to -16,075,202.80 RMB in the same period last year, indicating an improvement[33] - The company experienced a significant decrease in cash flow from operating activities, with a net cash flow of -4,342,382.16 RMB for the first nine months of 2018 compared to -12,059,018.14 RMB in the previous year[35] - The cash flow from financing activities for the first nine months resulted in a net outflow of -6,957,177.50 RMB, reflecting a decrease in cash available for operations[36] Investment and Income - Investment income decreased by 98% year-on-year, primarily due to the gain from the disposal of equity in Zhongtou Vision in the previous year.[12] - The company recorded an investment income of CNY 202,466.53 for Q3 2018, down from CNY 1,692,661.56 in the same period last year[24] - The company reported a significant increase in asset impairment losses to CNY 20,610.36 in Q3 2018 from CNY 3,287.90 in Q3 2017, indicating potential issues with asset quality[29] - The cash inflow from investment activities for the first nine months of 2018 was 210,832,749.89 RMB, with cash outflow of 139,155,060.91 RMB, leading to a net cash flow of 74,177,825.23 RMB[35] - The total cash inflow from investment activities for the first nine months was 263,070,192.78 RMB, while cash outflow was 199,124,825.51 RMB, resulting in a net cash flow of 63,945,367.27 RMB[36] Shareholder Information - The total number of shareholders was 11,622 at the end of the reporting period[10] - The largest shareholder, Xinda Investment Co., Ltd., held 40.68% of the shares[11] Operational Efficiency - Operating costs decreased by 32% year-on-year, primarily due to a decline in sales revenue from Tongda Trading.[12] - Tax expenses decreased by 75% year-on-year, mainly due to a reduction in land value-added tax provisions by Guangzhou Deyu.[12] - Operating profit for Q3 2018 was a loss of CNY 7,543,144.83, compared to a loss of CNY 187,112.81 in Q3 2017, indicating worsening operational efficiency[29] - Other income for Q3 2018 was CNY 121,296.47, while other expenses were CNY -7,339.79[25] Government Support - The company received government subsidies amounting to CNY 5,169,395.00, primarily from the Pudong New Area financial support[9] Product Development - The company has not disclosed any new product developments or market expansion strategies in this report[6]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥16,221,165.02, a decrease of 5.83% compared to ¥17,225,911.59 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥18,218,899.54, representing a decline of 234.78% from ¥13,517,851.93 in the previous year[20]. - The basic earnings per share for the first half of 2018 was -¥0.1309, a decrease of 234.67% compared to ¥0.0972 in the same period last year[21]. - The total profit for the period was -20.06 million yuan, with a net profit of -15.89 million yuan, and a net profit attributable to the parent company of -18.22 million yuan, resulting in an earnings per share of -0.13 yuan[31]. - The company reported a net loss of CNY 20,055,937.84 for the first half of 2018, compared to a profit of CNY 19,029,721.51 in the previous year[72]. - The company reported a comprehensive loss of -18,218,899.54 RMB during the period, reflecting ongoing challenges in profitability[86]. - The total comprehensive income for the period is CNY -17,289,887.92, reflecting a decrease in overall profitability[89]. Assets and Liabilities - The total assets at the end of the reporting period were ¥523,115,750.60, down 5.06% from ¥550,978,717.62 at the end of the previous year[20]. - The total current assets as of June 30, 2018, amounted to 456,896,943.54 RMB, compared to 488,869,347.52 RMB at the beginning of the period[64]. - The total non-current assets at the end of the reporting period were 35,860,401.88 RMB[64]. - The total liabilities decreased to CNY 182,729,215.41 from CNY 187,743,243.90, a reduction of 2.2%[67]. - Owner's equity decreased to CNY 340,386,535.19 from CNY 363,235,473.72, a decline of 6.3%[67]. - The total equity attributable to the parent company was 363,235,473.72 RMB, showing a decrease due to the comprehensive loss incurred[86]. Cash Flow - The cash flow from operating activities was -¥2,264,250.84, compared to -¥16,321,952.67 in the same period last year[20]. - The net cash flow from operating activities was -2,356,840.55 RMB, an improvement from -13,037,507.02 RMB in the previous period, indicating a reduction in cash outflow[81]. - The company’s cash flow management strategies appear to be improving, as evidenced by the reduced net cash outflow from operating activities compared to the previous period[81]. Investments and Subsidiaries - The company reported significant losses from its subsidiaries, with Shanghai Xinya Fast Food Co., Ltd. showing a net loss of CNY 8.71 million and Shanghai Tongda Trading Co., Ltd. reporting a net loss of CNY 315.26 million[38]. - Guangzhou Deyu Development Co., Ltd. generated a net profit of CNY 456.30 million, contributing positively to the overall performance[38]. - The company recognized a fair value loss of 24.58 million yuan on its financial assets during the reporting period[37]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,830[54]. - The largest shareholder, Xinda Investment Co., Ltd., held 56,606,455 shares, accounting for 40.68% of total shares[57]. - The second-largest shareholder, Guohua Life Insurance Co., Ltd., held 5,348,153 shares, representing 3.84%[57]. Risk Factors - The company has described potential risks in the report, advising investors to be cautious[6]. - Market risks are highlighted, with a slowdown in China's economic growth and uncertain global economic conditions potentially leading to decreased market demand[40]. - Financial risks are acknowledged, with an increased funding requirement for new business expansions, prompting the company to enhance its financial management and reduce costs[40]. Accounting Policies - The company has implemented revised financial instrument standards and revenue recognition standards starting from January 1, 2018, with no impact on prior period data[22]. - The company is implementing new accounting standards effective from January 1, 2018, which may impact its financial reporting[50]. - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[100]. Inventory and Receivables - The company reported a significant decrease in accounts receivable by 45.12% to 1.42 million yuan, attributed to the collection of sales payments[36]. - The total accounts receivable at the end of the period was ¥2,068,173.12, with a bad debt provision of ¥643,648.85, resulting in a provision ratio of approximately 31.1%[185]. - The provision for bad debts at the end of the period amounts to CNY 18,808,953.48, with a provision ratio of 89.67%[193]. Changes in Management - The company experienced a change in its board of directors, with several members resigning and new members elected[60]. - The company did not report any changes in the controlling shareholder or actual controller during the period[58].

Financial Performance - Operating revenue for the reporting period was CNY 14,806,579.12, representing a year-on-year increase of 6.07%[5] - Net profit attributable to shareholders was CNY 4,155,541.63, a significant decrease of 66.52% compared to the same period last year[5] - Basic earnings per share were CNY 0.0299, down 66.48% from CNY 0.0892 in the same period last year[5] - The profit attributable to shareholders of the parent company was CNY 4,155,541.63, compared to CNY 12,413,119.38 in the previous year, a decrease of about 66.5%[29] - The company reported an operating profit of CNY 9,250,535.08, down from CNY 21,317,847.49, a decrease of approximately 56.5%[28] - The total profit for Q1 2018 was CNY 9,255,125.80, compared to CNY 21,317,847.49 in the previous year, a decline of about 56.5%[28] - Total comprehensive income for Q1 2018 was CNY 2,783,228.85, compared to CNY 7,878,288.87 in the previous period[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 548,484,200.29, a decrease of 0.45% compared to the end of the previous year[5] - Total liabilities amounted to CNY 139,255,940.76, slightly down from CNY 140,776,615.00 in the previous year[28] - Total equity increased to CNY 325,394,663.03 from CNY 322,611,434.18, reflecting a growth of about 0.87%[28] Cash Flow - The net cash flow from operating activities was CNY 2,561,570.76, an increase of 2,303.02% compared to the previous year[5] - Cash inflow from operating activities totaled CNY 12,162,067.38, while cash outflow was CNY 9,600,496.62, resulting in a net cash flow of CNY 2,561,570.76[34] - Cash flow from investment activities generated a net inflow of CNY 905,074.55, down from CNY 96,068,176.59 in the previous year[35] - The company reported a net cash decrease of CNY 7,991,639.38 for the quarter, contrasting with an increase of CNY 97,735,049.25 in the same period last year[37] Government Support and Subsidies - The company received government subsidies amounting to CNY 4,243,500.00 during the reporting period[9] - Net cash flow from operating activities increased by 2303% year-on-year, primarily due to the receipt of government support funds during the period.[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,533[12] - The largest shareholder, Xinda Investment Co., Ltd., held 40.68% of the shares[12] Changes in Financial Standards - The company implemented revised financial instrument standards and revenue recognition standards starting from January 1, 2018, with no impact on prior period data[7] Other Financial Metrics - The weighted average return on net assets decreased by 2.02 percentage points to 1.24%[5] - Investment income decreased by 99% year-on-year, mainly due to gains from the disposal of equity in Zhongtou Vision in the same period last year.[15] - Impairment losses on assets increased by 600,000 yuan year-on-year, mainly due to inventory impairment at Tongda Trading during the period.[15] - Fair value changes in financial assets increased by 100% year-on-year, due to the implementation of revised financial instrument standards affecting the fair value of financial instruments held by the company.[15] - Income tax expenses decreased by 81% year-on-year, mainly due to a decrease in total profit during the period.[15] - Cash and cash equivalents at the end of the period amounted to CNY 207,349,309.60, compared to CNY 250,157,827.71 at the end of the previous period[35] Employee Compensation - Employee compensation payable decreased by 43% compared to the beginning of the year, mainly due to the payment of employee salaries during the period.[15] - The company paid CNY 4,659,630.66 to employees, a decrease from CNY 7,309,099.85 in the previous year[37] Revenue and Costs - Total operating costs decreased to CNY 11,823,242.48 from CNY 18,590,578.13, a reduction of about 36.4%[28] - Cash inflow from sales and services was CNY 7,720,475.61, down from CNY 10,844,194.99 in the previous year[37]

Financial Performance - In 2017, the company achieved a net profit attributable to shareholders of CNY 11,138,676.98, a decrease of 86.18% compared to CNY 80,612,161.83 in 2016[4]. - The company's operating revenue for 2017 was CNY 23,686,746.76, down 68.67% from CNY 75,600,127.30 in 2016[20]. - The basic earnings per share for 2017 was CNY 0.0801, a decline of 86.17% from CNY 0.5793 in 2016[21]. - The total assets of the company at the end of 2017 were CNY 550,978,717.62, a decrease of 9.00% from CNY 605,458,001.01 in 2016[20]. - The net assets attributable to shareholders decreased by 11.84% to CNY 332,174,956.86 at the end of 2017 from CNY 376,771,846.17 in 2016[20]. - The cash flow from operating activities for 2017 was negative CNY 15,006,668.70, a significant decline from positive CNY 7,613,905.82 in 2016, representing a decrease of 297.10%[20]. - The weighted average return on net assets for 2017 was 3.11%, down 22.21 percentage points from 25.32% in 2016[21]. - The company reported a significant drop in net profit after deducting non-recurring gains and losses, with a figure of CNY 10,869,338.95 compared to a loss of CNY 4,394,338.56 in 2016[20]. - The company reported a significant decrease in cash received from sales, totaling CNY 30.58 million, down 58.63% year-on-year[48]. - The company reported a total comprehensive income of CNY -23,295,802.75 for 2017, contrasting with CNY 99,709,175.84 in the previous year[151]. Cash Flow and Investments - The net cash flow from operating activities in Q4 was CNY 1,068,534.10, indicating a recovery from previous quarters[24]. - The net cash flow from operating activities is CNY -15.01 million, a decrease of 297.10% compared to the previous year[37]. - The net cash flow from investing activities is CNY 79.52 million, an increase of 285.97% year-on-year[37]. - The company experienced a cash inflow from investment activities of CNY 79,516,277.57, compared to CNY 20,601,854.15 in the previous year, indicating a substantial increase[154]. - The company has reduced its investment cash outflow to CNY 47.26 million, a decrease of 76.37% compared to the previous year[48]. Revenue Sources and Challenges - The company disposed of a 3.0405% stake in Zhongtou Vision, which was a major source of profit for 2017[35]. - The sales revenue from the subsidiary Tongda Trading was CNY 1,013 million, with CNY 308 million from "Yinlu" and CNY 705 million from "Meiwei Xian" products[35]. - The company faced challenges in traditional sales due to the impact of e-commerce and increased competition, leading to a significant decline in revenue from Tongda Trading[34]. Dividend Policy - The company proposed a cash dividend of CNY 0.50 per 10 shares, totaling CNY 6,957,177.50 to be distributed to shareholders[4]. - The company has a cash dividend policy that aims for a minimum of 10% of distributable profits to be paid out as cash dividends annually, provided there are no major investment plans[64]. - The company must disclose reasons for not proposing a cash dividend when it is capable of doing so, including the intended use of retained earnings[67]. - The board of directors must consider the company's profitability, funding needs, and shareholder return planning when proposing dividend recommendations[66]. Governance and Management - The company appointed Ruihua Certified Public Accountants (Special General Partnership) as the domestic accounting firm with an audit fee of RMB 320,000 for the year[74]. - The company has no major litigation or arbitration matters in the current year[76]. - The company has a total of RMB 77 million in outstanding balance for asset management plans[80]. - The company has established a competitive salary policy based on job responsibilities, annual performance evaluations, and industry salary levels[106]. - The company has implemented a comprehensive internal control system to prevent risks and ensure compliance with legal requirements[113]. Market Risks and Future Outlook - The company has acknowledged potential risks in its future operational plans and development strategies, advising investors to be cautious[5]. - The company faces market risks due to slowing economic growth and potential declines in market demand[60]. - Financial risks are anticipated as the company expands new business operations, necessitating careful management of cash flow and financing plans[61]. - The company plans to focus on new product development and market expansion in the fast-moving consumer goods sector to enhance revenue streams[57]. - The company aims to increase investment in new business projects to ensure sustainable and stable growth[58]. Asset Management and Financial Position - The fair value of available-for-sale financial assets decreased by 20.76% to CNY 190,227,368.47, reflecting changes in the company's asset management plan[31]. - The company's cash and cash equivalents increased by 32.41% to CNY 203,882,664.29 due to the recovery of some investments[31]. - The total current assets decreased from RMB 308,235,496.61 at the beginning of the year to RMB 298,641,979.05 by year-end, a decline of approximately 3.9%[138]. - The total non-current assets decreased from RMB 297,222,504.40 to RMB 252,336,738.57, representing a decline of about 15.1%[139]. - The total liabilities related to accounts payable decreased from RMB 2,107,217.42 to RMB 1,298,557.38, a reduction of approximately 38.4%[139]. Employee and Management Compensation - The total compensation for directors and senior management during the reporting period amounted to 4.87 million yuan[97]. - The company experienced changes in shareholding among directors and senior management, with specific individuals holding varying amounts of shares at the beginning and end of the year[97]. - The company has not granted any stock incentives to directors and senior management during the reporting period[100]. - The total number of employees in the parent company and major subsidiaries is 45, with 18 in the parent company and 27 in subsidiaries[105]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[174]. - The company adheres to the enterprise accounting standards, ensuring that the financial statements reflect a true and complete picture of its financial status and operating results[177]. - The company has established specific accounting policies and estimates based on its operational characteristics, particularly regarding revenue recognition[176]. - The company recognizes investment income for the difference between the consideration received and the share of net assets of the subsidiary[187].

| 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 7 | 2017 年第三季度报告 上海同达创业投资股份有限公司 2017 年第三季度报告 1 / 18 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 2017 年第三季度报告 公司代码：600647 公司简称：同达创业 1.3 公司负责人刘社梅、主管会计工作负责人詹爱民及会计机构负责人（会计主管人员）翟晓玲 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减(%) | | 总资产 | ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥17,225,911.59, a decrease of 41.28% compared to ¥29,333,921.43 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2017 was ¥13,517,851.93, down 82.07% from ¥75,377,346.89 in the previous year[18]. - The basic earnings per share for the first half of 2017 was ¥0.0972, a decline of 82.06% compared to ¥0.5417 in the same period last year[19]. - The weighted average return on equity decreased to 3.61% from 24.42%, a reduction of 20.81 percentage points[19]. - The company's net assets attributable to shareholders at the end of the reporting period were ¥360,178,442.75, down 4.40% from ¥376,771,846.17 at the end of the previous year[18]. - Total assets decreased by 2.80%, from ¥605,458,001.01 at the end of the previous year to ¥588,487,926.10 at the end of the reporting period[18]. - The net cash flow from operating activities for the first half of 2017 was -¥16,321,952.67, compared to -¥3,939,694.79 in the same period last year[18]. - The company reported a significant decrease in operating costs, which fell by 68.91% to RMB 7,154,439.91, in line with the drop in sales revenue[32]. - The net profit for the first half of 2017 was CNY 17,015,768.01, a decrease from CNY 75,085,907.27 in the same period last year, representing a decline of approximately 77.4%[76]. - The total comprehensive income for the first half of 2017 was CNY 1,514,585.41, a sharp decline from CNY 72,581,392.60 in the previous year, reflecting a decrease of approximately 97.9%[76]. Assets and Liabilities - Total liabilities were reported at RMB 196,953,095.76, slightly up from RMB 195,183,098.63 at the start of the period[64]. - The company's cash and cash equivalents increased to RMB 195,853,025.29 from RMB 153,983,052.93[63]. - Accounts receivable decreased to RMB 3,017,486.24 from RMB 4,287,681.46, indicating a reduction of approximately 29.6%[63]. - Total equity decreased to RMB 391,534,830.34 from RMB 410,274,902.38, reflecting a decline of about 4.5%[65]. - The company reported a total of RMB 308,219,665.61 in current assets, remaining relatively stable compared to RMB 308,235,496.61 at the beginning of the period[63]. - Non-current assets totaled RMB 280,268,260.49, down from RMB 297,222,504.40[64]. - The total amount of accounts payable increased to RMB 2,274,831.66 from RMB 2,107,217.42, marking an increase of about 7.9%[64]. Cash Flow - The net cash flow from financing activities was negative at CNY -15,644,694.44, indicating a cash outflow compared to the previous period[80]. - Cash flow from operating activities showed a net outflow of CNY 16,321,952.67, compared to a smaller outflow of CNY 3,939,694.79 in the previous year, reflecting a worsening cash flow situation[78]. - The total cash and cash equivalents at the end of the period reached ¥193,724,471.43, up from ¥170,113,157.74 at the beginning of the period, indicating a net increase of ¥45,102,703.85[83]. Shareholder Information - The total number of common stock shareholders reached 15,625 by the end of the reporting period[52]. - The largest shareholder, Xinda Investment Co., Ltd., holds 56,606,455 shares, representing 40.68% of the total shares[53]. - The company distributed dividends amounting to ¥14,610,072.75 during the period, impacting retained earnings[89]. Risks and Management - The company has described potential risks in the report, advising investors to be aware of investment risks[4]. - The company faces market risks due to a slowdown in China's economic growth and uncertainties in the global economy, which may lead to decreased market demand[39]. - Financial risks are anticipated as the company expands its new business, necessitating careful funding management and planning[39]. Accounting Policies - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[100]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[97]. - The company uses Renminbi as its functional currency for accounting purposes[103]. - The company has established specific accounting policies and estimates for revenue recognition and other transactions based on its operational characteristics[99]. Inventory and Receivables - The company assesses the net realizable value of inventory, considering estimated selling prices and costs, to determine any necessary write-downs[135]. - The company recognizes significant receivables over RMB 3 million and other receivables over RMB 2 million as major items for bad debt provision[129]. - The provision rate for receivables overdue for more than five years is 100%, indicating a high risk of default[200]. Investment Activities - Investment activities generated a net cash inflow of RMB 58,191,925.03, an increase of 45.58% compared to the previous year[32]. - The company transferred 3.0405% of its equity in Zhongtou Vision for RMB 54,729,720, contributing significantly to its investment income[38]. - The investment income for the first half of 2017 was CNY 26,895,710.74, a decrease from CNY 106,876,349.03 in the same period last year, representing a decline of approximately 74.9%[76].