Financial Performance - In 2014, the company achieved a net profit attributable to shareholders of 71,076,300.66 RMB, a significant increase of 705.10% compared to the previous year[4]. - The company's operating revenue for 2014 was 10,048,308.00 RMB, reflecting a decrease of 90.85% from 2013[24]. - The net cash flow from operating activities was -131,104,304.86 RMB, a decline of 488.20% compared to the previous year[24]. - Basic earnings per share increased by 703.85% to CNY 0.209 from CNY 0.026 in the previous year[26]. - Weighted average return on equity rose by 10.99 percentage points to 12.69% from 1.7% in the previous year[26]. - The company reported a net cash flow from investment activities of CNY 196,417,089.01, a significant increase from a net outflow of CNY 4,902,255.00 in the previous year[36]. - Total revenue for the year decreased by 90.85% to CNY 10,048,308.00 from CNY 109,844,532.00 in the previous year[36]. - Non-recurring gains and losses for the year totaled CNY 52,252,680.59, compared to a loss of CNY 689,850.24 in the previous year[29]. - The company reported a net profit of CNY 71,076,300.66 for the year 2014, with no cash dividends proposed[77]. Assets and Liabilities - The total assets of the company at the end of 2014 were 1,397,200,032.64 RMB, an increase of 30.92% from the end of 2013[24]. - The net assets attributable to shareholders at the end of 2014 were 595,589,327.98 RMB, up 13.55% from the end of 2013[24]. - The company's total liabilities increased significantly, with accounts payable rising by 948.28% to CNY 70,533,744[57]. - The total current liabilities increased to 741,604,639.32 RMB from 482,510,934.76 RMB[152]. - The company's cash and cash equivalents decreased to 33,011,082.73 RMB from 34,444,706.22 RMB[151]. - Accounts receivable showed a significant decrease to 444,035.20 RMB from 40,867,383.24 RMB[151]. - Inventory increased to 1,038,859,145.63 RMB from 821,161,025.11 RMB, indicating a growth in stock levels[151]. - The total equity attributable to the parent company at the end of the period was 653,305,309.32, reflecting a stable equity position despite operational challenges[172]. Strategic Direction - The company plans to retain all profits from 2014 to support new project investments, particularly in real estate and internet finance[4]. - The company plans to gradually transition to a business model focused primarily on financial services, moving away from real estate development[32]. - The company is gradually transitioning towards financial services as part of its strategic development plan[50]. - The company plans to gradually reduce its investment in the real estate sector and focus on establishing a financial services subsidiary to drive sustainable development[63][64]. - The company is exploring various financial services, including internet finance and investment management, through a new subsidiary in Shenzhen[65]. Project Developments - The total investment planned for the "Hantong Chutian City" project is CNY 2 billion, covering an area of 1480.37 acres[32]. - The average contract sales price per square meter for the current period was CNY 3,855, with a total sales area of 2.80 million square meters[33]. - The company experienced a significant decline in sales due to a sluggish real estate market, particularly in second and third-tier cities[37]. - The total operating cost for the "Chutian City" project was CNY 5,817,113, reflecting a significant decrease of 93.24% year-on-year[44]. - The company aims to enhance marketing efforts for the "Hantong Chutian City" project to accelerate sales and recover funds quickly[65]. Corporate Governance - The company has received a qualified audit opinion from Zhongxi CPA, which has been explained in detail by the board of directors[3]. - The company has taken corrective measures to address internal control deficiencies and improve management practices following a non-standard audit report[69][73]. - The company has implemented a comprehensive internal control system, with major management policies in place[136]. - The board and supervisory committee operate independently from the controlling shareholder, ensuring no interference in decision-making[4]. - The company has a dedicated board secretary responsible for information disclosure, ensuring transparency and compliance with regulations[128]. Shareholder Information - The total number of shareholders at the end of the reporting period was 25,653, down from 28,628 prior to the report[97]. - The largest shareholder, Duolun Investment (Hong Kong) Co., Ltd., reduced its holdings by 20 million shares, holding 20 million shares at the end of the period, representing 5.87% of total shares[99]. - The company has not disclosed any related party relationships or concerted actions among its shareholders[100]. - The total remuneration for the directors and senior management during the reporting period amounted to approximately RMB 60.75 million[109]. Employee and Management Information - The company reported a total of 134 employees, with 38 in the parent company and 96 in major subsidiaries[118]. - The company has a training plan that includes onboarding for new employees and job-specific training for current employees[120]. - The core technology team remained unchanged during the reporting period, indicating stability in key personnel[116]. - The company implemented a monthly fixed salary combined with annual performance assessments as its compensation policy[119]. Compliance and Regulatory Matters - The company has confirmed that there are no significant factors affecting its ability to continue as a going concern for the next 12 months[186]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that its financial reports accurately reflect its financial status and operational results[187]. - The company has disclosed an internal control self-assessment report, indicating compliance with regulatory requirements[139]. - The company is currently cooperating with legal counsel to address inquiries from the Shanghai Stock Exchange[90].

上海多伦实业股份有限公司 2014 年第三季度报告 上海多伦实业股份有限公司 2014 年第三季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司主要财务数据和股东变化 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 上海多伦实业股份有限公司 2014 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员应当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。 1.3 公司负责人鲜言、主管会计工作负责人恽燕桦及会计机构负责人（会计主管人员）恽燕桦保 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、 公司主要财务数据和股东变化 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 | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | (%) | | | ...

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 9,999,249, a decrease of 79.59% compared to CNY 48,995,711 in the same period last year[23]. - The net profit attributable to shareholders was a loss of CNY 11,399,897.60, compared to a profit of CNY 23,251,602.83 in the previous year, indicating a significant decline in performance[23]. - The basic earnings per share for the first half of 2014 was -0.033 CNY, down from 0.068 CNY in the same period last year[21]. - The weighted average return on net assets was -2.197% for the first half of 2014, down from 4.409% in the same period last year[21]. - The company reported a loss of CNY 185.19 in the first half of 2014[36]. - The company reported a total comprehensive loss of -¥11,955,460.55 compared to a comprehensive income of ¥23,778,372.69 in the previous period[72]. - The net profit for the current period is -¥11,399,897.60, indicating a loss compared to the previous period's profit[80]. - The net profit for the first half of 2014 was a loss of CNY 10,103,584.05, compared to a profit of CNY 22,022,473.17 in the same period of 2013, indicating a significant decline in profitability[89]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY 10,029,257.48, a recovery from a negative cash flow of CNY -14,098,259.02 in the previous year[23]. - Cash flow from operating activities generated a net inflow of ¥10,029,257.48, a recovery from a net outflow of -¥14,098,259.02 in the previous period[76]. - Cash and cash equivalents at the end of the period increased to ¥44,376,264.70 from ¥29,747,616.24, showing a positive cash position[76]. - The total cash and cash equivalents at the end of the period increased to ¥28,004,979.83 from ¥19,593,029.97 in the previous period, representing a 42.51% increase[78]. - The company's cash and cash equivalents at the end of the reporting period are 44,376,264.70 RMB, up from 34,444,706.22 RMB at the beginning of the period[64]. Assets and Liabilities - The total assets increased by 10.93% to CNY 1,162,704,555.67 compared to CNY 1,048,097,709.82 at the end of the previous year[23]. - The total liabilities increased from CNY 483,584,352.09 at the beginning of the year to CNY 591,051,890.68 at the end of the period, representing an increase of approximately 22.3%[66]. - Current liabilities rose significantly from CNY 482,510,934.76 to CNY 589,978,473.35, marking an increase of about 22.3%[66]. - The total equity decreased from CNY 583,608,125.54 to CNY 571,652,664.99, a decline of about 2.4%[66]. - The company's total current assets at the end of the reporting period amount to 1,045,350,218.49 RMB, an increase from 944,731,395.04 RMB at the beginning of the period[64]. Project Development and Sales - The company plans to accelerate the development and sales of its key project "Hantong Chutian City" in the second half of the year[26]. - The saleable area of "Hantong Chutian City" A and B was 115,711.23 square meters, with 88.39% sold, while the pre-sale area for Group C and D reached 69,602 square meters, achieving 62.30%[25]. - The subsidiary Nanchang Pinghai Real Estate Development Co., Ltd. has completed 100% of construction and 76% of project completion for the "Residential Theme Park" project[35]. - The total investment for the "Residential Theme Park" project is CNY 9,200.15, with 91% of sales achieved[38]. - The subsidiary Jingmen Hantong Real Estate Co., Ltd. has sold 88.39% of the available area in the "Hantong Chutian City" project[36]. Shareholder Information - The total number of shareholders at the end of the reporting period is 34,844[52]. - The largest shareholder, Dulon Investment (Hong Kong), holds 5.87% of shares, totaling 20,000,000 shares, which decreased by 20,000,000 shares during the reporting period[52]. - The second-largest shareholder, China Resources Shen Guo Investment Trust, holds 4.88% of shares, totaling 16,615,182 shares, with no change during the reporting period[52]. Management and Expenses - The company reported a decrease in management expenses by 60.40% to CNY 8,444,267.19 compared to CNY 5,264,473.94 in the previous year[27]. - Management expenses rose to ¥8,444,267.19 from ¥5,264,473.94, reflecting increased operational costs[72]. Accounting and Financial Reporting - The financial statements are prepared in accordance with Chinese accounting standards, ensuring compliance and transparency in financial reporting[94]. - The company follows the accounting treatment for business combinations under common control, measuring assets and liabilities at the book value of the acquired entity on the merger date[97]. - The company prepares consolidated financial statements based on control, including the financial statements of subsidiaries and eliminating internal transactions[102]. - The company recognizes rental income from operating leases on a straight-line basis over the lease term[154]. - The company does not report any changes in accounting policies or estimates for the current period[156]. Market and Strategic Outlook - The company aims to consider acquiring new projects and investing in the financial services industry as part of its diversification strategy[26]. - The company is assessing potential competitive actions from current or future competitors in the market[144]. - Future development trends and market demand for products produced from internal assets are being closely monitored[144].

Financial Performance - Operating income fell by 66.43% to CNY 10,003,000.00 year-on-year[9] - Net profit attributable to shareholders decreased by 98.65% to CNY 168,575.32 compared to the same period last year[9] - Total operating revenue decreased to ¥10,003,000 from ¥29,800,701, representing a decline of approximately 66.5% year-over-year[27] - Net profit for the period was ¥237,266.10, down from ¥14,210,921.48, indicating a decline of approximately 98.3% year-over-year[27] - Basic and diluted earnings per share decreased to ¥0.0005 from ¥0.0366, reflecting a significant drop of approximately 98.6% year-over-year[27] Cash Flow - Net cash flow from operating activities increased by 185.94% to CNY 54,368,489.91 year-to-date[9] - Cash flow from operating activities increased to ¥54,368,489.91 from ¥19,013,630.20, showing an increase of approximately 186.5% year-over-year[34] - Net cash flow from operating activities was -$13,391,454.05, worsening from -$4,023,411.14 in the prior period[38] - The net increase in cash and cash equivalents was -$13,441,454.05, compared to -$5,194,339.14 in the previous period, indicating a worsening cash position[38] - The ending balance of cash and cash equivalents was $8,881,156.98, up from $2,229,508.54 in the prior period, reflecting an increase of approximately 298%[38] Assets and Liabilities - Total assets decreased by 0.95% to CNY 1,057,029,482.07 compared to the end of the previous year[9] - Total assets decreased from CNY 1,067,192,477.63 at the beginning of the year to CNY 1,057,029,482.07 at the end of the period, a decline of approximately 1.09%[19] - Current assets totaled CNY 932,687,689.92, down from CNY 944,731,395.04, representing a decrease of about 1.93%[19] - Total liabilities decreased from CNY 483,584,352.09 to CNY 473,184,090.43, a reduction of approximately 2.91%[20] - Current liabilities totaled CNY 472,110,673.10, down from CNY 482,510,934.76, representing a decrease of about 2.92%[20] Shareholder Information - The number of shareholders reached 43,028 at the end of the reporting period[12] - Shareholders' equity increased slightly from CNY 583,608,125.54 to CNY 583,845,391.64, an increase of approximately 0.04%[20] - The company reported a net profit of CNY 129,724,379.99, up from CNY 129,555,804.67, indicating a growth of about 0.13% in retained earnings[20] Expenses - Management expenses rose by 106.60% due to increased leasing and other daily expenses[15] - Financial expenses surged by 4817.27% due to cash management service fees charged by a subsidiary[15] - Selling expenses decreased to ¥1,172,694.31 from ¥1,631,374.75, a reduction of about 28.0% year-over-year[27] - Management expenses increased significantly to ¥3,722,268.85 from ¥1,801,684.26, an increase of approximately 106.5% year-over-year[27] Investment Income - Investment income decreased by 73.59% due to a decline in profits from an associated company[15] - Investment income for the period was ¥2,520,825.19, down from ¥9,544,622.76, a decrease of approximately 73.6% year-over-year[30] Cash Management - The company’s cash flow management strategies will be critical in addressing the negative cash flow from operating activities moving forward[38]

Financial Performance - In 2013, the company achieved a net profit of CNY 6,833,614.33, with a net profit attributable to shareholders of CNY 8,828,249.88, representing a decrease of 63.68% compared to 2012[6]. - The company's operating revenue for 2013 was CNY 109,844,532.00, down 58.53% from CNY 264,862,320.60 in 2012[26]. - Basic earnings per share decreased to CNY 0.026 in 2013, down 63.38% from CNY 0.071 in 2012[28]. - The company reported a loss of ¥6.65 million for the year 2013[47]. - The company reported a total profit of ¥7,289,653.91, down from ¥40,264,952.07, reflecting a decline of approximately 81.9% year-over-year[143]. - The company’s total comprehensive income for the period was ¥6,833,614.33, compared to ¥32,091,667.79 in the previous period, a decrease of about 78.7%[143]. Cash Flow and Investments - The net cash flow from operating activities improved to CNY 33,772,554.63 in 2013, compared to a negative cash flow of CNY 6,227,778.98 in 2012[26]. - The company’s investment activities resulted in a net cash outflow of CNY -4,902,255.00, compared to a net inflow of CNY 524,740.00 in 2012[37]. - The company invested ¥35,000,000.00 in new projects during the year, leading to a net cash outflow from investing activities of ¥37,181,256.00[149]. Assets and Liabilities - The total assets of the company increased by 13.97% to CNY 1,048,097,709.82 at the end of 2013, up from CNY 936,371,215.09 at the end of 2012[26]. - Total liabilities increased to CNY 483,584,352.09 from CNY 374,596,703.88, which is an increase of about 29.1%[137]. - The total amount of cash and cash equivalents decreased by 87.69% to CNY -6,062,599.36, compared to CNY -49,232,506.66 in the previous year[37]. - Accounts receivable increased to ¥40,867,383.24, representing 3.83% of total assets, up 944.11% year-on-year due to uncollected sales proceeds[42]. - Inventory rose to ¥821,161,025.11, accounting for 76.95% of total assets, a 49.16% increase year-on-year attributed to higher development costs[42]. Shareholder Information - The total number of shares outstanding is 340,565,550, with no changes due to stock issuance or other factors during the reporting period[75]. - The total number of shareholders at the end of 2013 is 39,009, with the top ten shareholders holding a combined 18.56% of the total shares[81]. - The largest shareholder, Dulon Investment (Hong Kong) Limited, holds 11.75% of the shares, totaling 40,000,000 shares, which are pledged[81]. - The company did not implement cash dividends from 2008 to 2013 due to insufficient cash flow to meet business development needs[56]. Corporate Governance - The company has established a governance structure that complies with the requirements of the Corporate Governance Code for listed companies[110]. - The board of directors consists of 5 members, including 2 independent directors, ensuring compliance with legal and regulatory requirements[2]. - The supervisory board comprises 3 members, including 1 employee representative, effectively overseeing the legality and compliance of the company's financial activities[3]. - The company has implemented a strict internal control system, with the board responsible for its establishment and the supervisory board overseeing its implementation[123]. Future Outlook and Strategy - The company plans to retain all profits from 2013 to support future investment projects, with no dividend distribution proposed for the year[6]. - The company aims to invest the undistributed profits into real estate projects through its subsidiaries[6]. - The board anticipates continued demand for real estate, although growth rates may slow due to government regulations and tightening credit policies[49]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[151]. Risks and Challenges - The company has identified potential risks in the industry and policy environment, which may impact future performance[11]. - The company is facing risks related to policy changes, project singularity, and financial constraints due to tightening credit policies[54]. - The company reported a significant increase in sales expenses, which rose by 163.71% to CNY 11,745,482.25, primarily due to increased advertising costs[35]. Employee and Remuneration - The total remuneration for the board members and supervisors during the reporting period amounts to 58.82 million yuan[90]. - The total remuneration for directors, supervisors, and senior management amounted to 588,200 yuan[98]. - The company has a total of 102 employees, with 17 in the parent company and 85 in major subsidiaries[101]. - The company has implemented a compensation policy that combines monthly fixed salaries with annual performance evaluations[103].