Financial Performance - The company's operating revenue for Q1 2023 was ¥2,113,283,791.21, representing a significant increase of 469.19% compared to ¥371,281,920.92 in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥51,121,390.21, an improvement from a loss of ¥131,200,906.10 in the previous year[5]. - The company reported a basic and diluted earnings per share of -¥0.06, compared to -¥0.15 in the same period last year[6]. - The net profit for Q1 2023 was -3,600,200.53 RMB, an improvement from -126,607,142.91 RMB in Q1 2022[28]. - The total profit for Q1 2023 was 25,101,764.83 RMB, compared to a loss of -119,280,535.34 RMB in the same period last year[28]. - Operating profit for Q1 2023 was 23,935,357.07 RMB, a significant recovery from a loss of -119,811,779.60 RMB in Q1 2022[28]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥63,844,036.15, compared to an inflow of ¥29,840,029.07 in the same period last year[6]. - Cash flow from operating activities for Q1 2023 was -63,844,036.15 RMB, an improvement from -118,575,794.80 RMB in Q1 2022[31]. - Cash inflow from investment activities in Q1 2023 was 1,069,339,173.56 RMB, compared to 29,530,235.77 RMB in Q1 2022[31]. - Cash outflow from investment activities in Q1 2023 was 1,527,561,998.12 RMB, significantly higher than 42,381,874.19 RMB in Q1 2022[31]. - The net cash flow from financing activities in Q1 2023 was -1,509,935,799.37 RMB, compared to a positive flow of 105,944,820.57 RMB in Q1 2022[31]. Assets and Liabilities - Total assets decreased by 88.07% to ¥3,847,943,589.50 due to asset restructuring and the disposal of certain assets[12]. - Total liabilities decreased to ¥3,360,980,915.77 from ¥30,025,840,000.26, a reduction of approximately 88.8%[24]. - Cash and cash equivalents decreased to ¥993,061,104.67 as of March 31, 2023, down from ¥3,057,535,347.57 at the end of 2022, a decline of approximately 67.5%[22]. - The company’s long-term equity investments decreased to ¥140,570,125.89 from ¥298,848,075.76, a decline of approximately 52.9%[23]. - The total equity decreased from CNY 677.96 million at the end of 2022 to CNY 457.68 million by March 31, 2023, a decline of approximately 32.5%[34]. Revenue and Costs - The company's operating costs for Q1 2023 amounted to 581.98 million, reflecting an increase due to higher revenue from property deliveries compared to the same period last year[13]. - Total operating costs for Q1 2023 were ¥2,096,878,912.18, compared to ¥487,864,715.29 in Q1 2022, indicating an increase of about 330.5%[27]. - Tax expenses reached 243.66 million, also increasing in line with the rise in property delivery revenue[13]. - The company attributed the increase in operating revenue to the delivery of properties from the Pearl River Cloud Garden project[12]. Shareholder Information - The company has 40,158 common shareholders as of the end of the reporting period[15]. - The largest shareholder, Guangzhou Zhujiang Industrial Group Co., Ltd., holds 31.10% of the shares, totaling 265,409,503 shares[16]. Asset Management and Investments - The company completed the acquisition of 100% of Guangzhou Pearl River Urban Management Service Group Co., Ltd., which is under the same controlling shareholder, in March 2023[7]. - Non-recurring gains and losses totaled ¥5,643,300.83 for the period, with significant contributions from government subsidies and asset disposals[11]. - The company is engaged in a significant asset swap with Guangzhou Zhujiang Industrial Group, involving the exchange of 100% equity in a city management service group[17]. - The company has received approvals for its major asset swap and related transactions from relevant authorities[19]. Changes in Inventory and Receivables - The company reported a significant increase in accounts receivable, which rose to ¥296,490,928.94 from ¥271,887,104.12, an increase of about 9.0%[22]. - The company reported a significant decrease in other receivables from CNY 6.26 billion at the end of 2022 to CNY 1.94 billion by March 31, 2023, a decline of approximately 69.0%[32]. - The company’s inventory increased to ¥106,647,243.28 from ¥23,133,875,144.10, indicating a significant change in inventory management[22]. Future Outlook - The company plans to focus on new product development and market expansion strategies to improve future performance[27].

证券代码：600684 证券简称：珠江股份 编号：2023-046 广州珠江发展集团股份有限公司 2023 年第一季度经营情况简报 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法律责任。 广州珠江发展集团股份有限公司（以下简称"公司"）将所持有的房地产开 发业务相关的资产负债与广州珠江实业集团有限公司、广州珠江健康资源管理集 团有限公司合计持有的广州珠江城市管理服务集团股份有限公司（以下简称"珠 江城服"）100%股权进行资产置换，差额部分以现金补足，但不涉及发行股份。 （以下简称"本次重组"） 2023 年 4 月 25 日，公司披露《重大资产置换及重大资产出售暨关联交易实 施情况报告书》《重大资产置换及重大资产出售暨关联交易之标的资产过户情况 的公告》（编号：2023-044）。本次重组涉及的置入资产的过户事宜已办理完毕， 公司已持有珠江城服 100%的股份，珠江城服已成为公司的全资子公司。 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》等要求，公司结合自身情况，现将截至 2023 年第一季度 ...

广州珠江发展集团股份有限公司（以下简称"公司"）已于 2023 年 3 月 31 日发布公司《2022 年年度报告》，为便于广大投资者更全面深入地了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 4 月 10 日下午 15:00-16:00 举行 2022 年度业绩说明会，就投资者关心的问题进行交流。 证券代码：600684 证券简称：珠江股份 编号：2023-032 广州珠江发展集团股份有限公司 关于召开 2022 年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法律责任。 重要内容提示： （网址：http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 4 月 1 日（星期六）至 4 月 7 日（星期五）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 ir@gzzjsy.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。 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 ...

Financial Performance - The net profit attributable to shareholders for 2022 was -1,864,626,553.14 CNY, a decrease of 2,934.41% compared to the previous year's profit of 65,785,398.30 CNY[4] - Operating revenue for 2022 was 3,870,162,133.56 CNY, representing a year-on-year increase of 7.29% from 3,607,314,013.44 CNY in 2021[21] - The net cash flow from operating activities was -94,168,921.85 CNY, compared to -731,784,694.70 CNY in 2021, indicating an improvement[21] - The total assets at the end of 2022 were 31,362,595,570.49 CNY, a decrease of 5.55% from 33,206,976,010.06 CNY at the end of 2021[21] - The net assets attributable to shareholders decreased by 84.42% to 337,985,547.79 CNY from 2,169,785,278.29 CNY in 2021[21] - The company will not distribute profits or increase capital reserves for 2022 due to the negative net profit[4] - The company reported a decrease in net profit after deducting non-recurring gains and losses, amounting to -1,831,622,817.63 CNY[21] - Basic earnings per share were -2.18 RMB, a decrease of 2,825.00% year-on-year[35] - The weighted average return on net assets was -150.68%, a decrease of 153.75 percentage points year-on-year[35] - Operating costs rose to CNY 3,351,563,277.01, reflecting a significant increase of 53.09% year-on-year[54] Revenue Breakdown - The revenue after excluding non-main business income was 3,840,987,182.96 CNY, an increase of 8.14% from 3,551,779,242.90 CNY in 2021[21] - Real estate development revenue was 3,723.76 million RMB, an increase of 9.48% year-on-year[36] - Property management revenue decreased by 44.03% to 59.25 million RMB[37] - Engineering settlement and service revenue increased by 29.54% to 57.98 million RMB[38] - The main business revenue from the real estate sector grew by 9.48%, driven by the delivery of projects such as Zhujiang Huayuan and Changsha Sifang Yayuan[60] - The real estate sector generated revenue of ¥3,177,562,893.81, accounting for 94.81% of total revenue, an increase of 56.87% compared to the previous year[63] Market Conditions - In 2022, the company's sales area in Guangzhou was 90,014.43 square meters, reflecting a significant market decline[42] - The total sales area of residential properties in Changsha was 1,031 million square meters, down 46.75% year-on-year, with sales amounting to 1,208 billion yuan, a decrease of 41.46%[44] - In Hefei, the residential sales area was 548 million square meters, down 34.1%, with a sales amount of 1,087 billion yuan, a decline of 28.36%[45] - The total investment in real estate development in China was 132,895 billion yuan, a year-on-year decrease of 10%[40] - The national commodity housing sales area was 135,837 million square meters, down 24.3%, with sales revenue of 133,308 billion yuan, a decrease of 26.7%[41] Strategic Focus - The company is focusing on high-quality development and major asset restructuring to enhance market competitiveness[34] - The company is focusing on strategic transformation and has established a cross-departmental strategic working group to enhance its core capabilities and business modules[47] - The company aims to strengthen its asset restructuring efforts, focusing on high-quality property management and cultural operations to cultivate new profit growth points[46] - The company is committed to high-quality development and has implemented a standardized product system to enhance its market competitiveness[50] - The company plans to continue focusing on project deliveries and expanding its real estate portfolio in the upcoming periods[61] Governance and Compliance - The company emphasizes the importance of party leadership in driving high-quality development within state-owned enterprises[52] - The company has established a complete internal control system since 2009, ensuring no major defects in integrity, compliance, and effectiveness[111] - The company has been recognized in the Shanghai Stock Exchange Corporate Governance Index since 2015, reflecting its governance quality[111] - The company maintains a transparent information disclosure policy, ensuring all shareholders have equal access to information[109] - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[141] Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, including the use of low-carbon technologies and promoting green building practices[170] - The company has established a mechanism for environmental protection and considers ecological impacts in project feasibility studies[165] - The company has committed to a cash dividend policy that prioritizes shareholder returns while ensuring sustainable operations[159] - The company has integrated green low-carbon development concepts throughout the entire lifecycle of project construction, focusing on design, procurement, and construction[169] - The company has invested over 1.2 million RMB in pandemic prevention efforts, deploying over 200 personnel to support various regions[173] Legal Matters - The company is involved in a significant lawsuit with Guangzhou Zhongqiao Investment Holding Group Co., Ltd., with a disputed amount of RMB 562,810,593.43, and the first trial has been held[183] - The company has initiated litigation against multiple parties, including Guangzhou Yihe Real Estate Planning Agency Co., Ltd., with a total claim amount of RMB 154,088,500[183] - The company has a pending lawsuit regarding a claim of RMB 486,940,947.14 against Dongzhan Company and others, with the court having previously accepted the case[186] - The company received a favorable judgment for a claim of RMB 831,283,477.63 and related interests, although the defendant has appealed the decision[188] Future Outlook - The company plans to divest its real estate development business and acquire 100% equity in Zhujiang Chengfu, aiming to enhance asset quality and competitiveness[95] - A major asset restructuring is planned for 2023, focusing on core business and resource consolidation[96] - The company expects to engage in daily related transactions with Zhuhai Real Estate Group or other related enterprises, with an estimated total transaction amount of RMB 41,816,000 for 2022[192] - The company has proposed to authorize external guarantee limits for the year 2022[142] - The company has set a future outlook with a revenue guidance of $1.5 billion for the next fiscal year, indicating a growth target of 25%[135]

证券代码：600684 证券简称：珠江股份 编号：2023-010 广州珠江发展集团股份有限公司 2022 年第四季度经营情况简报 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法律责任。 2022 年第四季度，公司无新增房地产项目。 二、公司 2022 年第四季度房地产出租情况 2022 年第四季度，公司商业物业、住宅及停车场可供出租总面积 182,678.66 平方米，酒店及公寓可供出租客房套数 134 套。商业物业湖南板块因物业销售， 总建筑面积和可供出租面积较 2022 年三季度末减少 1,072.87 平方米。 2022 年第四季度，公司实现物业经营收入 1,497.50 万元。 由于存在各种不确定性，上述经营指标和数据与定期报告披露的数据可能存 在差异，因此相关数据为阶段性数据，仅供投资者参考。 特此公告。 广州珠江发展集团股份有限公司董事会 一、公司 2022 年第四季度房地产项目情况 2022 年第四季度，广州珠江发展集团股份有限公司（以下简称"公司"）房 地产项目实现销售面积 40,219.98 平方米，同比上升 3. ...

重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 2022 年第三季度报告 证券代码：600684 证券简称：珠江股份 广州珠江发展集团股份有限公司 2022 年第三季度报告 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法律责任。 第三季度财务报表是否经审计 □是 √否 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 比上年同 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 515,655,296.49 | 185.64 | 756,944,820.55 | -67.00 | | 归属于上市公司股东的净 利润 | -71 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥241,289,524.06, a decrease of 88.58% compared to ¥2,112,995,192.44 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was -¥781,779,502.09, representing a decline of 328.20% from ¥342,580,778.89 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥745,811,201.51, down 321.60% from ¥336,555,686.68 in the same period last year[20]. - Basic earnings per share decreased to -0.92 CNY, a decline of 330.00% compared to the same period last year[21]. - Diluted earnings per share also fell to -0.92 CNY, reflecting a 330.00% decrease year-over-year[21]. - The weighted average return on equity dropped to -43.95%, a decrease of 58.98 percentage points from the previous year[21]. - The company reported a total revenue of 241.29 million yuan, a decrease of 88.58% year-on-year, and a net profit attributable to shareholders of -781.78 million yuan, down 328.20%[40]. - The company’s real estate development business generated revenue of 172.60 million yuan, accounting for 71.53% of total revenue, down 91.47% year-on-year[41]. - The company’s sales area for the first half of 2022 was 64,325.09 square meters, a decrease of 14.96% year-on-year, with sales amounting to 1.41 billion yuan, down 23.80%[42]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥139,303,259.70, compared to -¥405,548,454.16 in the previous year, indicating an improvement[20]. - The company recorded a net cash flow from financing activities of CNY 655.20 million, a significant change from the previous year's negative cash flow[53]. - Cash and cash equivalents at the end of the period reached ¥4,362,991,539.16, representing 12.20% of total assets, an increase of 21.38% compared to the previous year[57]. - The company reported cash inflow from financing activities of CNY 655.20 million in the first half of 2022, a turnaround from a cash outflow of CNY 371.95 million in the same period of 2021[146]. - The net cash flow from operating activities for the first half of 2022 was approximately ¥269 million, a significant improvement compared to a net outflow of approximately ¥92 million in the same period of 2021[147]. Assets and Liabilities - The total assets at the end of the reporting period were ¥35,761,214,789.38, an increase of 7.69% from ¥33,206,976,010.06 at the end of the previous year[20]. - The total liabilities increased to ¥32,715,604,258.63 from ¥29,354,740,331.90, marking an increase of about 11.4%[129]. - The company’s debt-to-asset ratio was 91.48%, an increase of 3.08 percentage points from the beginning of the period[40]. - The company has a total of 44,736 common shareholders as of the end of the reporting period[108]. - The company’s total debt to related parties decreased by RMB 377.55 million during the reporting period[98]. Market Conditions and Sales Performance - In the first half of 2022, the national real estate development investment was 683.14 billion CNY, down 5.4% year-on-year[29]. - The total sales area of commercial housing nationwide was 68.923 million square meters, a year-on-year decrease of 22.2%[30]. - In Guangzhou, the residential transaction area was 4.04 million square meters, down 36.2% year-on-year, with transaction value decreasing by 26.9% to 151.7 billion CNY[31]. - The company achieved a sales area of 45,091.82 square meters in the Guangzhou region during the reporting period[31]. - In Hunan, the company achieved a sales area of 18,012.09 square meters, while the total residential transaction area in Changsha decreased by 56.5% year-on-year to 4.61 million square meters[32]. Strategic Focus and Future Plans - The company aims to explore "real estate +" business opportunities to enhance core competitiveness and overall strength[28]. - The company is focusing on strategic planning and reform to enhance core capabilities and adapt to market changes, aiming for high-quality development[34]. - The company plans to adjust its development strategies in response to regulatory policies to minimize adverse impacts on project sales[65]. - The company is focusing on core urban areas to mitigate market risks and improve investment safety[66]. Legal and Compliance Matters - The company is involved in significant litigation with a total claim amount of approximately ¥1,944,543,477.63, including interest and related costs[87]. - The company has received a first-instance judgment supporting its claim for a principal loan amount of ¥335,000,000 and interest, with the case currently in the appeal stage[86]. - The company has confirmed that there are no major litigation or arbitration matters pending that have not been disclosed in temporary announcements[83]. - The company has maintained compliance with court judgments and has no significant overdue debts during the reporting period[91]. Shareholder and Capital Structure - The largest shareholder, Guangzhou Zhujiang Industrial Group Co., Ltd., holds 31.10% of the shares, totaling 265,409,503 shares[109]. - The company has a total of 14 subsidiaries included in the consolidated financial statements, with ownership stakes ranging from 50% to 100%[181]. - The company has maintained a stable capital structure with significant ownership by state-owned entities, ensuring strong governance[165]. - The company distributed a total of 94,828,969.20 shares as bonus shares and increased its total share capital to 711,217,269.00 shares after the capital reserve conversion[171].

Financial Performance - The company's operating revenue for Q1 2022 was ¥77,898,661.99, a decrease of 95.57% compared to the same period last year[5] - The net profit attributable to shareholders was -¥131,200,906.10, representing a decline of 135.78% year-on-year[5] - The basic earnings per share were -¥0.15, down 134.88% from the previous year[6] - Net profit for Q1 2022 was CNY -143.56 million, a significant decline from CNY 352.21 million in Q1 2021, representing a decrease of 140.8%[24] - Operating revenue for Q1 2022 was CNY 77.90 million, down from CNY 1.76 billion in Q1 2021, a decrease of 95.6%[23] - Total operating costs for Q1 2022 were CNY 218.03 million, compared to CNY 1.27 billion in Q1 2021, a reduction of 82.9%[24] - The total comprehensive income for Q1 2022 was -143,560,613.71 RMB, compared to 352,214,423.56 RMB in Q1 2021[25] - Basic and diluted earnings per share for Q1 2022 were both -0.15 RMB, down from 0.43 RMB in Q1 2021[25] Cash Flow and Liquidity - The net cash flow from operating activities was ¥29,840,029.07, a decrease of 77.78% compared to the same period last year[5] - Cash inflow from operating activities in Q1 2022 was 1,080,210,344.49 RMB, a decrease of 9.5% from 1,194,686,718.28 RMB in Q1 2021[28] - Cash outflow from investing activities in Q1 2022 was 5,834,000.13 RMB, compared to 8,514,890.20 RMB in Q1 2021[28] - Net cash flow from financing activities in Q1 2022 was 105,589,905.35 RMB, a significant improvement from -1,416,956,387.46 RMB in Q1 2021[29] - The cash and cash equivalents at the end of Q1 2022 were 3,681,323,868.58 RMB, an increase from 3,065,286,993.25 RMB at the end of Q1 2021[29] - The net increase in cash and cash equivalents for Q1 2022 was $238.81 million, contrasting with a decrease of $1.13 billion in Q1 2021[38] - The ending balance of cash and cash equivalents as of Q1 2022 was $733.85 million, up from $547.25 million at the end of Q1 2021, reflecting a year-over-year increase of 33.9%[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥34,407,475,924.47, an increase of 3.62% from the end of the previous year[6] - Total liabilities rose to CNY 30.70 billion, up from CNY 29.35 billion, indicating an increase of 4.59%[22] - The company's equity attributable to shareholders decreased to CNY 2.04 billion from CNY 2.17 billion, a decline of 5.9%[22] - The total equity decreased to CNY 1,057,226,167.23 as of March 31, 2022, down from CNY 1,179,676,355.91 at the end of 2021, a decline of 10.3%[34] Investment and Projects - The company reported a significant increase in prepayments by 187.64%, attributed to advance payments for real estate development projects[9] - The company experienced a 313.46% increase in advance receipts, reflecting higher rental prepayments compared to the end of the previous year[9] - The total land area for ongoing projects is 688,688.26 square meters, with a planned investment of 3,652,650.57 million RMB and actual investment during the reporting period of 61,219.69 million RMB[15] - The total area available for sale across various projects is 3,661,571.30 square meters, with sales of 24,566.73 square meters recorded in the first quarter[17] - The ongoing project "珠江云上花园" has a total building area of 738,930.00 square meters, with an actual investment of 13,168.25 million RMB during the reporting period[15] - The remaining saleable area for "珠江云上花园" is 308,543.41 square meters, with 6,410.44 square meters sold in the first quarter[17] - The project "时光雅苑" has a total area of 189,247.38 square meters, with 8,210.76 square meters sold in the first quarter[17] - The project "长沙珠江悦界商业中心" has a total area of 339,076.45 square meters, with an actual investment of 8,162.83 million RMB[15] - The company is actively expanding its real estate portfolio with several projects under construction across different regions[15] Financial Ratios and Changes - The company's long-term equity investments as of March 31, 2022, were 4,324,724,710.70 RMB, compared to 4,274,917,689.61 RMB at the end of 2021[31] - The company's long-term borrowings increased to CNY 888,345,763.00 from CNY 649,915,207.44, reflecting a rise of 36.7%[34] - The company's financial expenses for Q1 2022 were CNY 96.49 million, slightly down from CNY 98.72 million in Q1 2021, a decrease of 2.3%[24] - The company's financial expenses in Q1 2022 were CNY 116,408,928.75, up from CNY 86,781,063.08 in Q1 2021, representing a 34.1% increase[35] - The company reported a decrease in investment income, with losses of CNY 87,378.91 in Q1 2022 compared to losses of CNY 5,496,851.24 in Q1 2021[36]

Financial Performance - The company's operating revenue for 2021 was approximately ¥3.61 billion, representing a 45.75% increase compared to ¥2.48 billion in 2020[21]. - The net profit attributable to shareholders was approximately ¥65.79 million, a significant recovery from a loss of ¥590.82 million in 2020[21]. - The basic earnings per share for 2021 was ¥0.08, compared to a loss of ¥0.69 per share in 2020[22]. - The weighted average return on equity increased to 3.07%, up 26.40 percentage points from -23.33% in 2020[22]. - The total assets at the end of 2021 were approximately ¥33.21 billion, a 9.57% increase from ¥30.31 billion at the end of 2020[21]. - The net cash flow from operating activities was negative at approximately -¥731.78 million, a decline of 204.15% compared to a positive cash flow of ¥702.65 million in 2020[21]. - Non-recurring gains for 2021 amounted to approximately ¥43.15 million, a decrease from ¥297.38 million in 2020[27]. - The company's net assets attributable to shareholders increased by 2.89% to approximately ¥2.17 billion at the end of 2021[21]. - The diluted earnings per share for 2021 was also ¥0.08, reflecting a recovery from the previous year's loss[22]. Business Operations - The real estate development business generated revenue of 3,401.17 million yuan, up 55.79% year-on-year[33]. - The property management and operation revenue decreased by 38.82% to 105.86 million yuan[34]. - The main source of revenue in 2021 came from real estate, with Zhujiang Yide Tower and Changsha Bay Hyatt being the primary contributors[55]. - The gross profit margin for the real estate sector improved by 2.16 percentage points to 40.44%[54]. - Engineering settlement and service revenue surged by 840.50% year-on-year, attributed to the completion of personalized renovation projects at Changsha Bay Hyatt[55]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with legal regulations and enhancing investor relations[111]. - The company has implemented an internal control system to ensure the integrity and effectiveness of financial reporting[114]. - The company has established a comprehensive insider information management system to ensure compliance with relevant laws and regulations, including the Securities Law and the Shanghai Stock Exchange listing rules[115]. - The company has maintained complete independence in its operations, assets, personnel, finance, and institutions, with no reliance on related transactions with controlling shareholders or other related parties[116]. - The company has an independent financial department that operates under its own accounting system, ensuring no interference from controlling shareholders or related parties[117]. Strategic Focus - The company plans to continue focusing on high-quality development and expanding into new sectors such as industrial real estate[42]. - The company is actively seeking opportunities to expand its market influence beyond its primary regions[42]. - The company aims to invest in high-quality projects in the Guangdong-Hong Kong-Macao Greater Bay Area as a primary strategy[102]. - The company plans to diversify its business to create new growth points and profit sources amid industry challenges[108]. - The company is focusing on digital transformation and operational efficiency to drive high-quality development[46]. Risk Management - There were no significant risks impacting the company's operations during the reporting period, with detailed descriptions of potential policy, industry, and operational risks provided in the management discussion section[8]. - The company acknowledges potential risks from policy changes and market conditions, emphasizing the need for strategic adjustments to mitigate these risks[106][107]. - The company has not faced any risk of delisting or bankruptcy reorganization during the reporting period[192]. Shareholder Relations - The company decided not to distribute cash dividends or increase capital reserves for the year 2021, aiming to ensure sustainable development and quality improvement[4]. - The company has established a cash dividend policy that considers operational development and shareholder interests[158]. - The company plans to conduct cash dividends annually, with a minimum of 30% of the average distributable profit over the last three years to be distributed in cash[160]. - The company did not propose a cash dividend for 2021 due to the impact of regulatory measures on the real estate market and tightened financing channels, opting to retain profits for operational and investment needs[163]. - The company emphasizes the importance of continuous and stable profit distribution to ensure reasonable returns for investors[161]. Environmental and Social Responsibility - The company has implemented green construction practices, including the use of prefabricated buildings to reduce resource consumption and improve construction quality[169]. - The company is committed to aligning its construction practices with national green building standards to promote sustainable living environments[169]. - The company actively participates in social responsibility initiatives, including pandemic response efforts, by preparing over 2,000 boxes of medical supplies within two days[175]. - The company supports rural revitalization by purchasing agricultural products from local farmers, thereby increasing their income and contributing to poverty alleviation[178]. - The company encourages suppliers to adopt ISO certifications and prioritize local green products, promoting sustainable procurement practices[174]. Legal and Compliance Issues - The company is involved in significant litigation, including a case against Guangzhou Yihe Real Estate Planning Agency Co., Ltd. with a claim amount of CNY 486,940,947.14[194]. - The company received civil judgments from the Guangzhou Intermediate People's Court regarding the aforementioned lawsuits on March 18, 2022[198]. - The company has not faced any administrative penalties related to environmental issues, indicating a strong compliance record[169]. - The company has not reported any non-standard audit opinions from its accounting firm[188]. - The company has not encountered any violations regarding guarantees during the reporting period[187].

Financial Performance - The company's operating revenue for the third quarter was CNY 180,523,139.56, a decrease of 65.31% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 91,838,043.96, representing a decline of 835.24% year-on-year[5]. - The basic and diluted earnings per share were both CNY -0.11, a decrease of 1,200% compared to the previous year[6]. - The net profit attributable to shareholders for the year-to-date was CNY 250,742,734.93, an increase of 15.90% compared to the same period last year[5]. - The net profit excluding non-recurring gains and losses for the third quarter was a loss of CNY 103,430,549.04, with no applicable year-on-year comparison[5]. - The company's net profit for the first three quarters of 2021 was not explicitly stated, but the increase in revenue suggests potential growth in profitability[27]. - Net profit for the first three quarters of 2021 reached ¥211,864,105.78, a significant increase from a net loss of ¥10,863,383.87 in the same period of 2020[28]. - Operating profit for the first three quarters of 2021 was ¥337,282,917.69, compared to ¥64,519,736.60 in 2020, reflecting a growth of approximately 422%[28]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 33,323,095,980.23, an increase of 9.96% from the end of the previous year[6]. - Current assets totaled ¥31,245,137,338.22 as of September 30, 2021, compared to ¥27,380,699,368.51 at the end of 2020, reflecting a growth of 14.5%[23]. - Non-current assets decreased to ¥2,077,958,642.01 from ¥2,924,859,932.59, a decline of 29%[23]. - Total liabilities increased to ¥29,605,276,647.67 from ¥27,157,088,209.64, representing an increase of 9%[24]. - The company's equity attributable to shareholders rose to ¥2,367,718,545.22 from ¥2,108,774,708.18, marking an increase of 12.3%[24]. - Total current liabilities reached approximately $20.77 billion, with a minor increase of $8.92 million[34]. Cash Flow - The net cash flow from operating activities for the year-to-date was a negative CNY 569,080,687.37[6]. - Cash flow from operating activities showed a net outflow of ¥569,080,687.37, an improvement from a net outflow of ¥835,350,807.83 in the previous year[30]. - Cash flow from investing activities generated a net inflow of ¥58,333,338.00, a decrease from ¥1,005,649,696.54 in the previous year[31]. - Cash flow from financing activities resulted in a net inflow of ¥796,299,569.60, compared to a net outflow of ¥324,855,160.07 in the same period of 2020[31]. - The company experienced a significant increase in cash inflow from financing activities, totaling ¥6,261,148,984.89, compared to ¥2,744,282,514.62 in the previous year[31]. Investments and Projects - The company reported a significant decrease in debt investment income, which fell by CNY 25,339,200 compared to the previous year[10]. - The company expects an increase in revenue recognition from property deliveries in the upcoming quarters[10]. - Sales collections from Zhujiang Yunshang Garden and Zhujiang Huazhu Garden increased compared to the same period last year, contributing to overall performance improvement[11]. - The total land area for projects under development is 1,221,868.81 square meters, with a total planned investment of 4,598,295.42 million RMB[16]. - The total area available for sale across all projects is 3,417,059.33 square meters, with 166,454.71 square meters sold from January to September 2021[18]. - The company plans to continue expanding its market presence through new projects and acquisitions in the future[20]. Other Financial Metrics - The weighted average return on equity was -3.81%, a decrease of 4.29 percentage points compared to the previous year[6]. - Tax expenses increased by 207.85% compared to the same period last year, mainly due to income recognition from the Yide Building and old properties[11]. - The company's financial expenses for the first three quarters of 2021 were ¥252,744,413.66, down from ¥291,008,309.29 in 2020, showing a decrease of 13.1%[27]. - The company reported a total profit of ¥338,015,489.86 for the first three quarters of 2021, compared to ¥30,114,545.22 in the same period of 2020[28].