天地源股份有限公司 2023 年第二季度房地产项目经营情况简报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司自律监管指引第 3 号--行业信息披露第一号 -房地产（2022 年修订）》要求，现将天地源股份有限公司（以下简称公司）2023 年第二季度房地产项目经营情况公告如下： 一、新增房地产储备及开工面积、竣工面积 | 证券代码：600665 | 证券简称：天地源 | | 公告编号：临2023-050 | | --- | --- | --- | --- | | 债券代码：185167 | 债券简称：21 | 天地一 | | | 债券代码：185536 | 债券简称：22 | 天地一 | | | 债券代码：137566 | 债券简称：22 | 天地二 | | 2023 年 4-6 月，公司无新增房地产土地储备。 2023 年 1-6 月，公司新增房地产土地储备面积 7.95 万平方米，权益新增房 地产土地储备面积 4.38 万平方米, 权益新增房地产计容建筑面积约 12.24 万平 方米。 ...

| | | 天 地 源 股 份 有限 公司 | | --- | --- | --- | | | | T a n d e C o . , L t d. | | 证券代码：600665 | 证券简称：天地源 | 公告编号：临2023-034 | | 债券代码：185167 | 债券简称：21天地一 | | | 债券代码：185536 | 债券简称：22天地一 | | | 债券代码：137566 | 债券简称：22天地二 | | 天地源股份有限公司 关于参加"2023 年陕西辖区上市公司投资者集体接待 日暨 2022 年度业绩说明会"的公告 届时，天地源股份有限公司总裁及相关独立董事、高级管理人员将通过互动 平台与投资者进行网络沟通和交流，欢迎广大投资者踊跃参加！ 活动时间：2023 年 5 月 16 日 15:00-17:00 活动地址："全景·路演天下" 网址：http://rs.p5w.net 为保证高效沟通和交流，投资者可于 2023 年 5 月 12 日 17:00 前，将拟交流 问题发送至公司邮箱 irm@tande.cn。公司将在 2022 年度业绩说明会上对投资者 普遍关注的问题进行交流。 本公司董 ...

Financial Performance - The company's operating revenue for Q1 2023 reached CNY 3,190,805,892.94, representing a significant increase of 783.67% compared to the same period last year[4] - Total operating revenue for Q1 2023 reached ¥3,190,805,892.94, a significant increase from ¥361,087,588.01 in Q1 2022, representing a growth of approximately 786.5%[16] - Operating profit for Q1 2023 was ¥89,364,450.53, a turnaround from a loss of ¥37,025,877.59 in Q1 2022[16] - Net profit for Q1 2023 amounted to ¥30,813,200.35, compared to a loss of ¥29,544,464.93 in Q1 2022, marking a substantial improvement[16] - The net profit attributable to shareholders of the listed company was CNY 15,723,981.81, with a net profit excluding non-recurring gains and losses of CNY 16,167,728.60[4] - The net profit for Q1 2023 was ¥30,813,404.35, a significant improvement from a net loss of ¥29,544,464.93 in Q1 2022[17] - The net profit attributable to shareholders of the parent company was ¥15,723,981.81, compared to a loss of ¥26,944,838.32 in the same period last year[17] Cash Flow - The net cash flow from operating activities was negative at CNY -1,770,034,033.92, primarily due to increased land payment expenditures compared to the previous year[6] - The net cash flow from operating activities was -¥1,770,034,033.92, contrasting with a positive cash flow of ¥56,922,529.04 in Q1 2022[20] - Operating cash inflow for Q1 2023 was ¥2,316,353,495.56, down from ¥2,540,416,766.65 in Q1 2022, reflecting a decrease of approximately 8.84%[19] - The company incurred cash outflows for operating activities totaling ¥4,086,387,529.48, which is an increase from ¥2,483,494,237.61 in Q1 2022[20] - The company reported a total cash inflow from financing activities of ¥1,445,840,700.00, compared to ¥1,603,250,000.00 in Q1 2022[21] - The net cash flow from financing activities was ¥898,549,922.05, a recovery from a net outflow of -¥1,378,051,441.08 in the previous year[21] - The company received tax refunds amounting to ¥3,819,918.46 during the quarter, contributing to its cash flow[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 39,400,678,322.09, a decrease of 2.25% from the end of the previous year[5] - Total assets as of March 31, 2023, were ¥39,400,678,322.09, down from ¥40,308,112,494.37 at the end of 2022[12] - Total liabilities decreased to ¥34,241,839,763.83 from ¥35,180,050,876.29, reflecting a reduction of approximately 2.7%[13] - Cash and cash equivalents decreased to ¥4,761,550,721.15 from ¥5,575,224,791.15, a decline of about 14.6%[12] - Accounts receivable fell to ¥48,974,107.81 from ¥65,905,596.15, a decrease of approximately 25.7%[12] - Inventory increased to ¥29,427,571,056.46 from ¥28,891,597,275.62, showing a growth of about 1.9%[12] - Other payables rose to ¥2,673,622,592.23 from ¥2,565,129,653.17, an increase of approximately 4.2%[13] Shareholder Information - The basic and diluted earnings per share were both CNY 0.0182[4] - The basic and diluted earnings per share for Q1 2023 were both ¥0.0182, compared to a loss of ¥0.0312 per share in Q1 2022[17] - The total number of ordinary shareholders at the end of the reporting period was 35,836[8] - The weighted average return on net assets was 0.36%[4] - The company reported government subsidies recognized in the current period amounting to CNY 216,729.65[6] - The company completed the handover of construction projects, contributing to the significant increase in operating revenue[6]

| 证券代码：600665 | 证券简称：天地源 | | 公告编号：临2023-029 | | --- | --- | --- | --- | | 债券代码：185167 | 债券简称：21 | 天地一 | | | 债券代码：185536 | 债券简称：22 | 天地一 | | | 债券代码：137566 | 债券简称：22 | 天地二 | | 天地源股份有限公司 2023 年第一季度房地产项目经营情况简报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司自律监管指引第 3 号--行业信息披露第一号 -房地产（2022 年修订）》要求，现将天地源股份有限公司（以下简称公司）2023 年第一季度房地产项目经营情况公告如下： 一、新增房地产储备及开工面积、竣工面积 2023 年 1-3 月，公司新增房地产土地储备面积 7.95 万平方米，权益新增房 地产土地储备面积 4.38 万平方米, 权益新增房地产计容建筑面积约 12.24 万平 方米。具体项目如下： 单位：万平米 | 序 号 | 城市 | ...

Financial Performance - In 2022, the company achieved a total revenue of ¥10,552,345,745.98, representing a 52.01% increase compared to ¥6,941,947,174.46 in 2021[24]. - The net profit attributable to shareholders was ¥342,665,522.52, a decrease of 9.06% from ¥376,806,218.33 in the previous year[24]. - The net cash flow from operating activities increased by 108.44% to ¥1,395,278,589.93, up from ¥669,379,333.63 in 2021[24]. - Basic earnings per share for 2022 were ¥0.3965, down 9.08% from ¥0.4361 in 2021[25]. - The company reported a 35.41% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, reaching ¥340,711,051.86[24]. - The weighted average return on net assets decreased by 1.29 percentage points to 8.02% in 2022[26]. - The company achieved a sales revenue of 10.55 billion RMB, representing a 52.01% increase compared to the previous year[41]. - The net profit attributable to the parent company was 343 million RMB, with a weighted average return on equity of 8.02%[39]. - The company recorded a total asset value of 40.31 billion RMB as of December 31, 2022[39]. - The company’s gross profit margin in the real estate sector was 25.75%, an increase of 1.78 percentage points year-on-year[46]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.19 per 10 shares, totaling ¥102,830,580.00 for the year 2022[6]. - The company has a cash dividend policy that states at least 30% of the average distributable profit over the last three years will be distributed in cash[131]. - The company has a total of 342,665,522.52 RMB in net profit attributable to ordinary shareholders for the year, with a cash dividend payout ratio of 30.01%[136]. Asset Management - The company's total assets at the end of 2022 were ¥40,308,112,494.37, a decrease of 2.34% from ¥41,274,569,917.58 in 2021[24]. - The net assets attributable to shareholders increased by 5.52% to ¥4,387,954,678.61, compared to ¥4,158,459,692.51 at the end of 2021[24]. - The company's total assets included accounts payable of RMB 5.65 billion, which increased by 68.26% due to installment payments for land acquisition[58]. - The company reported a significant increase in tax payable, which rose by 154.80% to RMB 548.34 million, reflecting higher VAT and income tax obligations[58]. Market and Project Development - The company successfully delivered 6400 housing units across 9 projects, totaling 950,000 square meters, demonstrating commitment to project completion[32]. - The company acquired three new projects in Xi'an, covering a total area of 254 acres, indicating strategic expansion efforts[32]. - The company has ongoing projects in various cities, including a total of 99,768.70 square meters under construction for the Yunshui Tianjing project in Xi'an, with an investment of RMB 543.6 million[65]. - The company is focusing on expanding its residential and commercial projects, with multiple new projects launched in key cities[64]. - The company has achieved a construction completion rate of 100% for several projects, including the Changjiang Tianjing project in Xi'an, which has a total area of 156,540.09 square meters[65]. Financing and Investment - The company secured financing of RMB 9.58 billion throughout the year, with RMB 9.25 billion of restricted funds released, enhancing liquidity[32]. - The total financing amount at the end of the period was CNY 1,290,975.21 million, with an average financing cost of 7.49%[72]. - The company plans to apply for a total financing limit of no more than CNY 17.5 billion from financial institutions[71]. - The company plans to invest CNY 8.204 billion in ongoing and planned projects in 2023, and aims to reserve land with a planned area of approximately 450,000 square meters at an estimated cost of CNY 6.5 billion[71]. Risk Management and Governance - The company does not face any significant risk events during the reporting period[10]. - The company conducted 14 audits to strengthen risk management and safety protocols, ensuring operational integrity[34]. - The company has implemented comprehensive risk management measures to prevent operational risks[97]. - The company has confirmed that there are no significant internal control deficiencies during the reporting period[138]. Corporate Governance - The company held 16 board meetings and approved 80 proposals in 2022, demonstrating active governance[97]. - The company has established a strong governance structure with independent directors ensuring oversight and accountability[104]. - The company is committed to maintaining a high level of corporate governance and transparency in its operations[104]. - The company has revised and established multiple internal control regulations to enhance governance effectiveness[97]. Employee and Community Engagement - The total number of employees at the parent company and major subsidiaries is 2,809, with 84 at the parent company and 2,725 at subsidiaries[127]. - The company has implemented a comprehensive training program for new and key employees to enhance skills and optimize work processes[130]. - The company invested a total of 500,000 RMB in social responsibility initiatives, including donations of epidemic prevention materials[149]. - The company mobilized over 3,800 volunteers to support community COVID-19 testing and prevention efforts in Xi'an[149]. Legal and Compliance Issues - The company is involved in a significant lawsuit regarding a claim of 45 million RMB against Tianjin Binhai Development Investment Holding Co., which is currently in the enforcement process[157]. - The company has a pending lawsuit involving a claim of 584.974 million RMB against Haojie Plastic (Shenzhen) Co., which is under judicial review[158]. - The company has maintained a good integrity status with no significant debts or court judgments unfulfilled during the reporting period[162]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[105]. - The company plans to expand its market presence by entering three new provinces in the next fiscal year, targeting a 15% increase in market share[109]. - The company plans to achieve a new sales contract amount of 10.502 billion yuan in 2023[87].

| 证券代码：600665 | 证券简称：天地源 | | 公告编号：临2023-008 | | --- | --- | --- | --- | | 债券代码：185167 | 债券简称：21 | 天地一 | | | 债券代码：185536 | 债券简称：22 | 天地一 | | | 债券代码：137566 | 债券简称：22 | 天地二 | | 天地源股份有限公司 2022 年第四季度房地产项目经营情况简报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司自律监管指引第 3 号--行业信息披露第一号 -房地产（2022 年修订）》要求，现将天地源股份有限公司（以下简称公司）2022 年第四季度房地产项目经营情况公告如下： 一、新增房地产储备及开工面积、竣工面积 2022 年 10-12 月，公司无新增房地产土地储备。 万元，同比下降 2.96%。 三、房地产出租情况 2022 年 1-12 月，公司新增房地产土地储备面积 8.95 万平方米，权益新增 房地产土地储备面积 8.95 万平方米, ...

| --- | --- | --- | |------------|-----------------|---------------------------------------| | | T a n d e C o . | 天 地 源 股 份 有限 公司 , L t d. | | 证券代码： | 600665 | 证券简称：天地源 | | 债券代码： | 155655 | 债券简称： 19天地一 | | 债券代码： | 185167 | 债券简称： 21 天地一 | | 债券代码： | 185536 | 债券简称：22天地一 | 天地源股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------------------------|---------------------------------------------------------------------------------------------|------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 3,100,471,204.41, representing a 10.78% increase compared to RMB 2,798,733,280.41 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 96.72% to RMB 8,814,684.77 from RMB 268,870,026.21 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was RMB 9,310,973.67, down 93.90% from RMB 152,557,772.78 in the previous year[17]. - Basic earnings per share for the first half of 2022 were RMB 0.0102, down 96.72% from RMB 0.3111 in the same period last year[18]. - The weighted average return on net assets decreased by 6.43 percentage points to 0.21% from 6.64% in the previous year[18]. - The company reported a net profit of -12.56 million RMB from Xi'an Tiandi Yuan Real Estate Development Co., Ltd. for the first half of 2022[42]. - Xi'an Tiandi Yuan Qujiang Real Estate Development Co., Ltd. recorded a net loss of -382.59 million RMB, indicating significant financial challenges[42]. - The company reported a total profit of ¥157,815,080.70, down 54.5% from ¥347,434,355.64 in the first half of 2021[116]. - The company incurred income tax expenses of ¥48,615,583.57, compared to ¥78,389,801.21 in the previous year, a decrease of 38.1%[116]. Cash Flow and Liquidity - The net cash flow from operating activities was RMB 1,718,352,312.91, a significant improvement from a negative cash flow of RMB -916,402,396.74 in the same period last year[17]. - The company reported a total cash and cash equivalents balance of CNY 1,688,258,042.33 at the end of the period, an increase of CNY 617,879,574.14 from the beginning of the period[125]. - The cash inflow from investment activities was minimal, totaling CNY 519,227.08, indicating limited investment recovery[125]. - The total cash inflow from operating activities was approximately ¥6.83 billion in the first half of 2022, compared to ¥5.62 billion in the same period of 2021, indicating a growth of about 21%[120]. - The company's current liquidity ratio is 1.31, a decrease of 5.76% compared to the previous year[103]. - The company's current quick ratio is 0.34, down 15.00% from the previous year[103]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 44,687,440,736.68, an increase of 8.27% compared to RMB 41,274,569,917.58 at the end of the previous year[17]. - Total liabilities reached ¥40.15 billion, an increase from ¥36.73 billion, reflecting a growth of approximately 9.8%[110]. - The total equity attributable to shareholders decreased to ¥4.05 billion from ¥4.16 billion, a decline of about 2.6%[110]. - Accounts payable increased by 70.40% to RMB 5.72 billion due to the recognition of installment payments for land acquisition[35]. - The company's debt-to-asset ratio is 89.85%, an increase of 0.97% compared to the previous year[103]. Investments and Subsidiaries - The company has invested RMB 59.53 million in Xi'an Silk Road International Financial Innovation Center, holding an 8.04% equity stake[39]. - The company reported a total of 30 subsidiaries involved in real estate development, with varying levels of profitability and asset values[42]. - The company established a new wholly-owned subsidiary, Xi'an Tiandi Yuan Haoyue Real Estate Development Co., Ltd., with a registered capital of 30,000 million RMB[43]. - The company holds a 51% stake in Shaanxi Shenbao Hydropower Development Co., Ltd. and a 70% stake in Xi'an Chuangdian Think Tank Business Consulting Management Co., Ltd., aiming for diversified development[46]. Market and Operational Strategy - The company plans to enhance its operational efficiency and adapt to market changes by focusing on marketing management and cash flow safety[26]. - The company aims to strengthen its land reserves and financing efforts, with a total financing amount of CNY 51.07 billion achieved in the first half of the year[28]. - The company emphasizes a strategic focus on "cultural real estate leadership" and "beautiful life operation" to drive growth and customer satisfaction[23]. - The company is focused on ensuring the continuous profitability and protection of minority shareholders' interests through strategic asset management[64]. Risks and Challenges - The company faces risks from the ongoing COVID-19 pandemic, which may impact project development and operations in certain cities[47]. - Market risks are heightened due to overall industry downturn and increased competition, prompting the company to enhance macroeconomic and regional market analysis[48]. - Financial pressures are evident due to regulatory impacts on the capital-intensive real estate sector, leading the company to adjust its financing structure and reduce costs[48]. Corporate Governance and Compliance - The company has not proposed any profit distribution or capital reserve fund transfer plan for the half-year period[55]. - There are no updates or changes regarding the stock incentive plan or employee stock ownership plan[55]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[57]. - The company actively promotes waste classification and has set up facilities for waste management in service communities[58]. Financial Instruments and Accounting Policies - Financial instruments are recognized as financial assets or liabilities based on the contractual agreements, with initial measurement at fair value[155]. - The company recognizes interest income on financial assets measured at amortized cost using the effective interest method[156]. - The company adopts a perpetual inventory system, conducting inventory counts semi-annually and a comprehensive count before the end of the fiscal year[176]. - The company recognizes intangible assets based on identifiable non-monetary assets without physical substance, including patents and trademarks[194].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 361,087,588.01, representing a year-on-year increase of 5.68%[6] - The net profit attributable to shareholders was a loss of RMB 26,944,838.32, with a net profit excluding non-recurring items also showing a loss of RMB 27,482,667.25[6] - The company reported a net financial cost of CNY 22,873,500.78, up from CNY 18,083,617.69, indicating an increase of approximately 26.5%[19] - Net profit for Q1 2022 was a loss of CNY 29,544,464.93, an improvement from a loss of CNY 35,581,155.44 in Q1 2021, indicating a reduction in losses of about 16.4%[20] - Operating profit for Q1 2022 was a loss of CNY 37,025,877.59, compared to a loss of CNY 55,117,611.89 in Q1 2021, reflecting a decrease in losses of approximately 32.8%[20] - The total comprehensive income for Q1 2022 was a loss of CNY 29,544,464.93, compared to a loss of CNY 35,581,155.44 in Q1 2021, showing an improvement of about 16.4%[20] - Basic and diluted earnings per share for Q1 2022 were both CNY -0.0312, an improvement from CNY -0.0402 in Q1 2021, indicating a reduction in loss per share of approximately 22.4%[21] Cash Flow - The net cash flow from operating activities decreased by 77.83%, amounting to RMB 56,922,529.04, primarily due to increased land payment expenditures compared to the same period last year[8] - Cash flow from operating activities for Q1 2022 was CNY 56,922,529.04, down from CNY 256,762,542.18 in Q1 2021, showing a decline of about 77.8%[22] - Cash flow from investing activities in Q1 2022 resulted in a net outflow of CNY 1,670,433.78, compared to a net outflow of CNY 11,829,573.66 in Q1 2021, indicating a significant reduction in outflows[23] - Cash flow from financing activities in Q1 2022 showed a net outflow of CNY 1,378,051,441.08, worsening from a net outflow of CNY 811,361,798.84 in Q1 2021, reflecting an increase in cash outflows of about 69.8%[23] Assets and Liabilities - The total assets at the end of the reporting period were RMB 40,578,686,640.19, a decrease of 1.69% from the end of the previous year[7] - The company's total assets amounted to CNY 40,578,686,640.19, a decrease from CNY 41,274,569,917.58 in the previous period[18] - Current liabilities totaled CNY 27,437,086,067.01, down from CNY 28,578,717,256.11, indicating a reduction of approximately 4%[17] - Non-current liabilities increased to CNY 8,626,550,456.25 from CNY 8,151,295,431.70, representing an increase of about 5.8%[17] - The company's total equity was CNY 4,515,050,116.93, slightly down from CNY 4,544,557,229.77[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,223[10] - The largest shareholder, Xi'an High-tech Industrial Development Zone Real Estate Development Co., Ltd., holds 497,000,938 shares, accounting for 57.52% of the total shares[12] Inventory and Receivables - Inventory increased to CNY 28,662,613,434.46 from CNY 26,573,321,146.67, marking an increase of approximately 7.9%[16] - Accounts receivable decreased to CNY 72,942,666.20 from CNY 74,946,677.27, a decline of about 2.7%[16] Revenue and Costs - Total operating revenue for Q1 2022 was CNY 361,087,588.01, an increase of 5.2% compared to CNY 341,676,781.21 in Q1 2021[19] - Total operating costs for Q1 2022 were CNY 402,114,337.44, up from CNY 399,013,450.93 in Q1 2021, reflecting a slight increase of 0.5%[19] - Total revenue from sales and services received in Q1 2022 was CNY 2,173,469,682.65, slightly up from CNY 2,141,021,981.93 in Q1 2021, marking an increase of approximately 1.5%[22] Financial Instruments - The company completed a public issuance of bonds on March 14, 2022, with a total scale of RMB 500 million and a coupon rate of 7.50%[14] - The company plans to issue medium-term notes not exceeding RMB 700 million, pending approval from the shareholders' meeting[14]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 376,806,218.33 in 2021, representing a 14.61% increase compared to RMB 328,775,116.22 in 2020[6]. - Total operating revenue for 2021 was RMB 6,941,947,174.46, marking a 30.89% increase from RMB 5,303,654,893.66 in 2020[24]. - Basic earnings per share rose to RMB 0.4361 in 2021, a 14.61% increase from RMB 0.3805 in 2020[25]. - The weighted average return on equity increased to 9.31% in 2021, up from 8.65% in 2020, reflecting a 0.66 percentage point increase[25]. - The net profit after deducting non-recurring gains and losses was RMB 251,618,369.42, a decrease of 13.98% from RMB 292,505,508.99 in 2020[24]. - The company reported a decrease in diluted earnings per share to RMB 0.2912 after deducting non-recurring gains and losses, down from RMB 0.3385 in 2020, a decline of 13.97%[25]. - The company achieved a sales revenue of 6.942 billion RMB, representing a 30.89% increase compared to the previous year[39]. - The net profit attributable to the parent company was 377 million RMB, with a weighted average return on equity of 9.31%[37]. - The company recorded a contract sales amount of 12.189 billion RMB and an equity contract sales amount of 9.4 billion RMB[37]. - The company achieved total sales revenue of 1,218,892.35 million RMB, with a sales area of 731,963.15 square meters during the reporting period[60]. Cash Flow and Financial Stability - The net cash flow from operating activities decreased by 82.73% to RMB 669,379,333.63 at the end of 2021, down from RMB 3,876,529,048.96 at the end of 2020[24]. - The company secured financing of RMB 8.1 billion throughout the year, enhancing its financial stability[32]. - The company’s cash flow from operating activities decreased by 82.73% to 669 million RMB compared to the previous year[39]. - The average financing cost for the company was 7.38% with total financing amounting to 1,485,349.80 million RMB at the end of the reporting period[63]. - The company has a loan balance of CNY 1.15 billion from financial institutions, with a loan interest rate of 8.7% per annum, due within 30 months[159]. - The company has another loan balance of CNY 150 million, with a loan interest rate of 9% per annum, due within 24 months[160]. Strategic Initiatives and Market Position - The company aims to position itself as a leader in cultural real estate and a provider of quality living experiences[35]. - The company plans to invest 8.204 billion RMB in construction and planned projects in 2022, with an estimated land acquisition cost of approximately 11.7 billion RMB for about 1.05 million square meters[63]. - The company plans to focus on acquiring quality land in economically strong cities with net population inflow, using methods such as bidding and mergers[81]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for this purpose[98]. - The company is actively expanding its market presence through strategic partnerships and joint ventures in various regions[69]. Operational Efficiency and Management - The company implemented a strategic focus on project management and operational efficiency, resulting in multiple awards for engineering quality[32]. - The company aims to enhance cash flow safety by increasing sales efforts and improving fund utilization efficiency[81]. - The company is committed to improving operational efficiency and cost control through detailed cost estimation and project management[82]. - The company has optimized its subsidiary management structure to improve control efficiency[130]. - The company has established a comprehensive internal control system, reviewing 156 existing documents and enhancing the internal control framework[128]. Governance and Compliance - The company held 18 board meetings in 2021, passing 61 resolutions and receiving 13 special reports[87]. - The company’s governance structure has been refined with the revision of 7 governance rules, including the shareholder meeting rules[87]. - The company’s board and committees actively engaged in governance, holding a total of 13 committee meetings and 4 supervisory meetings[87]. - The company has improved its internal control and risk management awareness through the implementation of management manuals[87]. - The company’s audit committee confirmed that the related transactions during the reporting period did not harm the interests of the company or its minority shareholders[113]. Market Challenges and Outlook - The real estate market faced challenges in 2021, with a 23.8% year-on-year decline in residential land transactions across 300 cities[34]. - The outlook for 2022 suggests a potential recovery in the real estate market, although external challenges remain significant[34]. - The company anticipates a gradual recovery in market confidence and a slight increase in transaction volume in 2022, despite ongoing industry adjustments[74]. - The company is monitoring the impact of regulatory changes on the real estate market, with expectations of a stable policy environment in 2022[75]. Environmental and Social Responsibility - The company has actively promoted waste classification in its service communities, setting up centralized waste classification points[141]. - The company has implemented comprehensive management measures to effectively reduce air pollution during project construction[141]. - In response to the COVID-19 pandemic, the company dispatched over 700 personnel to support nucleic acid testing in 41 communities, demonstrating strong community engagement and social responsibility[143]. - The company initiated the "Orange Light" micro-light plan, supporting rural revitalization by purchasing local agricultural products, thereby aiding in poverty alleviation efforts[144]. Legal and Litigation Matters - The company has been involved in significant litigation, including a case where Tianjin Tiandi Yuan demanded RMB 45 million from Tianjin Binhai Development Investment Holding Co., which is currently under court proceedings[152]. - A total of RMB 1.6 billion in funds has been frozen by the Xi'an Intermediate People's Court due to ongoing litigation involving the company's subsidiary[152]. - The company has faced a lawsuit from Shaanxi Construction Sixth Group, claiming RMB 73.12 million in progress payments and RMB 12.80 million in economic losses due to delays[153]. Related Party Transactions - The total amount of related party transactions for 2021 was CNY 32.15 million, which did not exceed the initially estimated total of CNY 122.34 million[157]. - The company engaged in various related party transactions, including purchasing materials and providing services, with amounts ranging from CNY 7,547.17 to CNY 27.5 million[157]. - The company has signed a share custody agreement with its controlling shareholder, managing the equity of three project companies in real estate development[163].