2021 年第三季度报告 证券代码：600716 证券简称：凤凰股份 江苏凤凰置业投资股份有限公司 2021 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个别及连带责任。 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 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 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 末比上年同期 | | --- | --- | --- | --- | --- | | | | 期增减变 | 年初至报告期末 | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 26,026,382.15 | -78.94 | 398,266,016.91 | 45 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 372,239,634.76, representing a 146.88% increase compared to CNY 150,778,918.83 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 53,430,583.67, a significant turnaround from a loss of CNY 5,300,943.59 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 64,755,985.76, compared to a loss of CNY 8,709,935.41 in the same period last year[16]. - Basic earnings per share for the first half of 2021 were CNY 0.0571, compared to a loss of CNY 0.0057 in the same period last year[17]. - The weighted average return on net assets was 0.92%, improving from -0.09% in the previous year[17]. - The company reported a total non-recurring loss of 11,325,402.09 RMB, primarily due to losses from trading financial assets[21]. - The company reported a significant decrease in deposits with related parties, from approximately 810 million RMB to 183 million RMB, indicating a reduction of 627 million RMB during the reporting period[70]. - The comprehensive income total for the first half of 2021 was -¥175,302,335.08, compared to -¥58,608,958.92 in the same period of 2020[109]. - The company reported a net loss of -CNY 9,549,206.10 for the first half of 2021, an improvement compared to a net loss of -CNY 17,419,673.20 in the same period of 2020, indicating a reduction in losses by approximately 45.2%[113]. Assets and Liabilities - The company's total assets decreased by 9.23% to CNY 7,920,347,365.18 from CNY 8,725,324,251.56 at the end of the previous year[16]. - The company's total assets included cash and cash equivalents of ¥1,007,644,800.76, which decreased by 61.00% from ¥2,583,809,831.46[35]. - Total liabilities decreased to CNY 2,053,004,025.23 from CNY 2,654,606,758.83, marking a reduction of approximately 22.6%[101]. - The company's equity attributable to shareholders increased to CNY 5,867,343,339.95 from CNY 5,728,355,253.11, reflecting an increase of about 2.4%[101]. - The company's contract liabilities decreased by 23.67% to ¥453,480,943.09 from ¥594,098,751.33, indicating improved cash flow management[35]. - The total liabilities at the end of the period were CNY 1,756,395,731.35, which is manageable in relation to the total assets[131]. Cash Flow - The net cash flow from operating activities was negative at CNY -211,953,473.25, compared to CNY -144,741,741.94 in the previous year[16]. - The company’s cash and cash equivalents at the end of the first half of 2021 were CNY 995,804,342.82, down from CNY 1,216,901,525.50 at the end of the first half of 2020[116]. - The company raised CNY 200,000,000.00 through borrowings in the first half of 2021, with total cash inflows from financing activities amounting to CNY 200,000,000.00[116]. - The company paid CNY 612,500,000.00 in debt repayments during the first half of 2021, contributing to a net cash outflow from financing activities of -CNY 470,530,088.19[116]. - The company incurred financial expenses of CNY 5,017,116.14 in the first half of 2021, significantly reduced from CNY 12,083,680.40 in the same period of 2020, marking a decrease of approximately 58.5%[113]. Business Operations - The company's main business is real estate development, primarily focused in Jiangsu and Anhui provinces, with residential and commercial properties as the main categories[22]. - The main reason for the increase in operating revenue was the significant revenue recognition from the delivery of commercial properties in Taixing[18]. - The company has three ongoing projects totaling approximately 864,000 square meters, including the Tai Xing Phoenix Cultural Plaza and Yi Xing Phoenix Yiranju[28]. - The company is leveraging its cultural brand and resources from its controlling shareholder, Jiangsu Phoenix Publishing and Media Group, to enhance its market presence[26]. - The company has initiated a strategic transformation into the health and elderly care industry with the Phoenix Yiranju project in Yixing, Jiangsu[29]. Market Conditions - The real estate market is experiencing a tightening of financial policies, with rising mortgage rates impacting credit availability for residents[24]. - The company anticipates continued high-level growth in real estate investment in the second half of 2021, supported by optimistic expectations for land and construction investments[24]. - The real estate market remains under high pressure due to national policy regulations, with limited land acquisition and financing affecting small and medium-sized enterprises significantly[52]. - The company faces operational risks due to the fragmented nature of the real estate industry, necessitating a focus on brand effect and resource optimization to enhance competitiveness[52]. - The current product structure is overly reliant on commercial office buildings, with limited residential inventory, making it challenging to sell under current market conditions[52]. Financial Management - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during this reporting period[4]. - The company has not proposed any profit distribution or capital reserve increase for the first half of 2021, indicating a conservative approach to financial management[57]. - The company is focused on enhancing its risk management capabilities in response to ongoing regulatory pressures in the real estate sector[52]. - The company has not disclosed any new employee incentive plans or stock ownership plans during the reporting period[58]. - The company has not reported any significant related party transactions during the reporting period[73]. Shareholder Information - The largest shareholder, Jiangsu Phoenix Publishing and Media Group Co., Ltd., holds 487,883,543 shares, representing 52.12% of the total shares[85]. - The company has 29,236 ordinary shareholders as of the end of the reporting period[83]. - The company is actively seeking feasible alternative plans for the equity injection from the controlling shareholder[78]. - The controlling shareholder has committed to support the company's business development and improve the quality of the listed company[78]. Corporate Governance - There have been significant changes in the board of directors, with new appointments including Lin Haitao as chairman and Zhao Liurong as a director[57]. - Phoenix Group has committed to maintaining the independence of the listed company in terms of business, assets, personnel, institutions, and finance after the completion of the transaction[64]. - The company has not executed any major contracts or guarantees during the reporting period[74]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[145]. - The financial statements are prepared on a going concern basis, confirming the company's ability to continue operations for at least 12 months[144]. - The company has not made any adjustments to accounting policies or prior period errors during this reporting period[134].

Financial Performance - Operating revenue increased significantly by 535.50% to CNY 314,852,218.03 from CNY 49,543,738.37 in the same period last year[5] - Net profit attributable to shareholders of the listed company was CNY 22,545,211.29, a turnaround from a loss of CNY 35,325,003.17 in the previous year[5] - The net profit after deducting non-recurring gains and losses was CNY 49,561,078.38, compared to a loss of CNY 5,812,746.89 in the same period last year[5] - Basic and diluted earnings per share improved to CNY 0.0241 from a loss of CNY 0.0377[5] - The net profit for Q1 2021 was ¥22,868,553.31, a turnaround from a loss of ¥35,300,553.27 in Q1 2020, indicating a 164.78% improvement in profitability[13] - The basic earnings per share for Q1 2021 was ¥0.0241, compared to a loss of ¥0.0377 in the same period last year, marking a 163.93% increase[14] Assets and Liabilities - Total assets decreased by 9.57% to CNY 7,890,322,022.86 compared to the end of the previous year[5] - Total liabilities decreased from CNY 2,654,606,758.83 to CNY 2,075,136,615.07, a decline of around 21.8%[26] - Current liabilities decreased from CNY 2,014,850,931.73 to CNY 1,158,259,943.62, a reduction of about 42.5%[26] - Shareholders' equity decreased from CNY 6,070,717,492.73 to CNY 5,815,185,407.79, a decline of approximately 4.2%[27] - The company's total assets were reported at ¥3,869,176,251.97 in Q1 2021, down from ¥4,853,357,656.48 in Q1 2020, indicating a decrease of approximately 20.2%[32] Cash Flow - The company reported a net cash flow from operating activities of CNY -144,593,737.52, an improvement from CNY -175,534,233.73 in the previous year[5] - In Q1 2021, the company generated cash inflows from operating activities amounting to CNY 133,560,770.36, a significant increase from CNY 53,445,281.12 in Q1 2020, representing a growth of approximately 149.9%[42] - The net cash flow from operating activities for Q1 2021 was -CNY 144,593,737.52, an improvement compared to -CNY 175,534,233.73 in Q1 2020, indicating a reduction in cash outflow by about 17.6%[42] - The company's cash and cash equivalents at the end of Q1 2021 stood at CNY 1,979,449,945.15, down from CNY 2,572,011,668.69 at the beginning of the quarter, reflecting a decrease of about 22.9%[43] Shareholder Information - The total number of shareholders at the end of the reporting period was 26,736[10] - The largest shareholder, Jiangsu Phoenix Publishing and Media Group, holds 52.12% of the shares, totaling 487,883,543 shares[10] Non-Recurring Items - Non-recurring gains and losses for the period amounted to CNY -27,015,867.09, primarily due to fair value changes in financial assets[8] Future Plans and Strategies - The company plans to evaluate the feasibility of injecting shares of Jiangsu Bank into its structure, considering the current market conditions and regulatory environment[17] - The company is exploring the feasibility of injecting Jiangsu Bank's equity with Phoenix Group, ensuring compliance with relevant regulations and protecting minority shareholders' interests[18] - The company is actively seeking alternative plans for the equity injection due to financial regulatory obstacles and the impact of the pandemic on progress[19] - The company has expanded the search for alternative asset injection plans beyond its group to improve feasibility[19] Legal Matters - The company is currently involved in litigation regarding profit distribution disputes with Shanghai Tailong, which has been paused pending the outcome of related equity disputes[20] - The Jiangsu Provincial High Court upheld the original ruling regarding the equity dispute with Shanghai Tailong, confirming that the 22.69% equity in Nanjing Longfeng belongs to Phoenix Real Estate[21]

Financial Performance - The company's operating revenue for 2020 was ¥894,108,011.60, a decrease of 31.31% compared to ¥1,301,698,174.21 in 2019[20] - The net profit attributable to shareholders of the listed company was a loss of ¥5,178,160.38, a decline of 111.78% from a profit of ¥43,943,703.09 in the previous year[20] - Basic earnings per share for 2020 were ¥0.0614, down 32.30% from ¥0.0907 in 2019[22] - The net profit attributable to shareholders decreased due to a decline in operating profit compared to the previous year[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses also decreased due to the decline in operating profit, despite an increase in fair value gains from funds held[23] - The company reported a significant reduction in financial expenses by 69.76% due to decreased interest expenses from reduced debt[51] - The company achieved a net profit of CNY 57,514,777.94 for the year 2020, with a proposed cash dividend of CNY 0.30 per share, totaling CNY 28,081,817.70[107] - The company reported a 32.46% decrease in EBITDA, amounting to 164.47 million RMB in 2020 compared to 243.53 million RMB in 2019, primarily due to the impact of the pandemic on sales[193] Cash Flow and Assets - The net cash flow from operating activities was ¥915,997,128.89, compared to a negative cash flow of ¥246,608,046.87 in 2019[20] - The total assets at the end of 2020 were ¥8,725,324,251.56, an increase of 0.25% from ¥8,703,195,012.07 in 2019[21] - Cash and cash equivalents increased by 81.09% to ¥2,583,809,831.46, primarily due to higher cash inflows from ongoing projects and the sale of certain securities[67] - The company’s total assets were significantly impacted, with cash and cash equivalents now representing 29.61% of total assets, up from 16.39% in the previous period[67] - The company reported a 7.05% decrease in cash flow from investment activities, totaling 683,126,244.27 yuan[63] - The total amount of loans repaid during the reporting period was 2.00 billion RMB, reflecting effective debt management[188] Real Estate Development - The company's main business is real estate development, focusing on residential and commercial properties in Jiangsu and Anhui provinces[33] - In 2020, the total real estate development investment reached CNY 1,414.43 billion, a 7.0% increase year-on-year, with residential investment at CNY 1,044.46 billion, growing by 7.6%[34] - The company reduced its inventory of commercial housing to 22,379,000 square meters, a decrease of 940,000 square meters compared to the previous year[35] - The company completed the sale of remaining properties in the Suzhou office project, with a total transaction amount of ¥596.4 million[45] - The company has ongoing inventory of 70,600 square meters of office space in Hefei and 2,610 square meters in Nantong[46] - The company is actively exploring strategic transformation into the health and elderly care sector, emphasizing high-quality service and management[46] - The company is focusing on the development of elderly care real estate, with the first pilot project located in Yixing, Jiangsu, combining home-based and institutional elderly care services[102] Inventory and Sales - The company reported a 2.6% increase in the sales area of commercial housing, totaling 176,086,000 square meters in 2020[35] - Residential production decreased by 59.02% to 25,326.16 square meters, while sales dropped by 83.08% to 15,177.44 square meters, resulting in an inventory increase of 144.37% to 17,178.59 square meters[58] - Office building production was zero, but sales increased by 378.28% to 56,993.64 square meters, leading to a 31.37% decrease in inventory to 124,707.36 square meters[58] - Commercial sales fell by 92.79% to 650.73 square meters, with no production reported, while inventory increased by 2.75% to 58,175.64 square meters[58] Financing and Investments - The company has received a credit line of CNY 3 billion annually from its controlling shareholder, ensuring smooth cash flow for operations[41] - The total financing amount at the end of the period was 812.5 million RMB, with an average financing cost of 4.65%[76] - The company has sold 104,527,300 units of Huaxia Securities ETF, generating a transaction amount of 133 million RMB, enhancing cash flow and asset returns[82] - The company is exploring alternative plans for the injection of Jiangsu Bank shares due to regulatory and financial constraints[135] Corporate Governance - The company has established a comprehensive corporate governance structure, ensuring the protection of minority shareholders' interests[172] - The company has implemented a salary management system that emphasizes efficiency and fairness, aiming to attract and retain talent[170] - The company has a diverse board with members having extensive experience in publishing and finance[161] - The independent directors include professionals from academia and legal backgrounds, enhancing governance[161] - The company has established specialized committees within the board to provide professional opinions for decision-making[173] Risk Management and Compliance - The company is committed to enhancing its risk management capabilities and overall operational stability through improved foundational management practices[102] - The company has implemented measures to prevent the misuse of funds and unauthorized external guarantees[111] - The company has not encountered any issues regarding the occupation of funds during the reporting period[115] - The company has not reported any major accounting errors or corrections for the current year[121] Market Conditions and Future Outlook - The real estate industry is expected to face challenges due to the ongoing impact of the COVID-19 pandemic, with a focus on stabilizing land prices and housing prices in 2021[94] - The Ministry of Housing and Urban-Rural Development plans to suspend residential land announcements in 22 key cities, which may lead to a decrease in land premium rates and improve profit margins for real estate companies[95] - The company is actively seeking strategic transformations by integrating its cultural real estate brand with senior housing and exploring acquisition opportunities to enhance competitiveness[97]

2020 年第三季度报告 公司代码：600716 公司简称：凤凰股份 江苏凤凰置业投资股份有限公司 2020 年第三季度报告 1 / 25 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 7 | 2020 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 公司负责人汪维宏、主管会计工作负责人颜树云及会计机构负责人（会计主管人员）陈超保 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 | 8 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥150,778,918.83, a decrease of 82.10% compared to ¥842,374,843.76 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2020 was -¥5,300,943.59, representing a decline of 117.72% from ¥29,915,125.87 in the previous year[19]. - Basic earnings per share for the first half of 2020 were -¥0.0057, down 117.81% from ¥0.0320 in the same period last year[18]. - The weighted average return on net assets decreased to -0.09%, down 0.70 percentage points from 0.61% in the previous year[18]. - The net cash flow from operating activities was -¥144,741,741.94, compared to -¥958,482,904.90 in the same period last year[19]. - The total operating revenue for the first half of 2020 was CNY 150,778,918.83, a decrease of 82.1% compared to CNY 842,374,843.76 in the same period of 2019[116]. - The net profit for the first half of 2020 was a loss of CNY 5,231,939.79, compared to a profit of CNY 31,478,399.99 in the first half of 2019[118]. - The total comprehensive income for the period was -58,608,958.92 CNY, compared to 213,166,564.67 CNY in the same period last year[119]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,383,519,582.81, a decrease of 3.67% from ¥8,703,195,012.07 at the end of the previous year[19]. - The total assets of the company at the end of the reporting period are CNY 6,355,405,474.93, showcasing the company's asset base[146]. - Total liabilities amounted to CNY 1,308,954,380.74, a decrease from CNY 1,324,530,322.38 in the previous year[114]. - Total liabilities decreased to ¥2,028,114,107.88 from ¥2,624,740,834.66, showing a reduction in financial obligations[109]. - Non-current liabilities decreased to ¥636,095,323.67 from ¥1,180,578,460.25, suggesting a reduction in long-term debt[109]. Cash Flow - The company's cash and cash equivalents decreased by 18.65% to CNY 1,232,824,402.44, down from CNY 1,515,480,408.33 in the previous year[41]. - The cash inflow from financing activities included 60,000,000.00 RMB received from other financing activities[129]. - The company incurred a total of 200,000,000.00 RMB in cash outflows for investment activities during the first half of 2020[129]. - The cash flow from operating activities was significantly impacted by a decrease in cash received from sales and services, totaling only 2,534,133.54 RMB[128]. - The ending cash and cash equivalents balance as of June 30, 2020, was 1,216,901,525.50 RMB, down from 1,401,708,454.49 RMB at the beginning of the period[126]. Investments and Subsidiaries - The subsidiary Jiangsu Phoenix Real Estate Co., Ltd. reported total assets of approximately ¥5.32 billion and a net loss of ¥7.91 million[53]. - The subsidiary Yancheng Phoenix Real Estate Co., Ltd. generated revenue of ¥32.37 million with a net profit of ¥6.02 million[53]. - The company holds 174,272,700 shares of Nanjing Securities, representing 5.28% of its total share capital after a recent reduction[45]. - The company is exploring the feasibility of injecting shares of Jiangsu Bank into the company, which has faced obstacles due to financial conditions and regulatory policies[76]. Market and Business Strategy - The company reported a significant impact on residential deliveries due to the pandemic and product structure, with fewer deliveries compared to the previous year when a major project was delivered[19]. - The company is actively exploring the direction and model of industrial transformation, particularly in developing high-quality elderly care communities[25]. - The company plans to establish a three-in-one elderly care management model that combines institutional, community, and home-based care, aiming to create new profit growth points[29]. - The company is actively exploring strategic transformation into the health and elderly care industry, with a focus on high-end elderly care projects in Yixing, Jiangsu[34]. Governance and Compliance - Phoenix Group committed to minimizing related party transactions with the listed company and its wholly-owned subsidiary, ensuring no conflicts of interest during the relationship period[63]. - The company has retained Lixin Accounting Firm for the 2020 annual financial audit, ensuring accurate and timely service[66]. - The company has not reported any significant litigation or arbitration matters during the reporting period[68]. - The company has not disclosed any major related party transactions during the reporting period[70]. Financial Ratios and Performance Metrics - Current ratio increased to 3.58 from 3.57, reflecting a slight improvement in liquidity[99]. - Quick ratio decreased by 7.03% to 1.19 from 1.28, indicating a decline in short-term financial health[99]. - Debt-to-asset ratio improved significantly by 19.79% to 24.19% from 30.16%, primarily due to repayment of loans[99]. - EBITDA interest coverage ratio decreased by 22.17% to 1.79 from 2.3, impacted by reduced residential deliveries during the pandemic[100]. Accounting Policies and Changes - The company implemented changes in accounting policies effective from January 1, 2020, in accordance with the relevant regulations, impacting the financial statements as of June 30, 2020[71]. - The company’s financial statements are prepared based on the going concern principle, indicating no significant issues affecting the company's ability to continue operations for at least 12 months[169]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate representation of its financial status and results[171].

Financial Performance - Operating revenue for the first quarter was CNY 49,543,738.37, down 90.90% year-on-year[5] - Net profit attributable to shareholders was a loss of CNY 35,325,003.17, a decrease of 232.42% compared to the same period last year[5] - Basic earnings per share were CNY -0.0377, a decrease of 232.28% year-on-year[5] - The company's operating revenue significantly decreased by 74.33% year-on-year, amounting to 3,214,979.39[13] - Net profit fell to -35,300,553.27, a decrease of 231.18% year-on-year, mainly due to a decline in sales revenue and losses from the company's ETF holdings[13] - Total operating revenue for Q1 2020 was CNY 49,543,738.37, a significant decrease of 91.0% compared to CNY 544,387,180.06 in Q1 2019[31] - The net profit for Q1 2020 was -35,300,553.27 RMB, compared to a net profit of 26,910,379.52 RMB in Q1 2019, indicating a significant decline[32] - The total profit for Q1 2020 was -34,032,020.49 RMB, down from 39,587,869.80 RMB in the same period last year[32] - The comprehensive income total for Q1 2020 was 82,715,643.60 RMB, compared to 933,849,647.84 RMB in Q1 2019[32] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -175,534,233.73, an improvement compared to CNY -507,523,255.09 in the previous year[5] - Cash and cash equivalents decreased from approximately 1.43 billion RMB at the end of 2019 to about 1.23 billion RMB as of March 31, 2020[25] - The ending cash and cash equivalents balance for Q1 2020 was 1,209,913,444.96 RMB, down from 2,778,638,765.71 RMB in Q1 2019[37] - The total cash outflow for operating activities was 228,979,514.85 RMB, significantly higher than 716,076,469.16 RMB in the previous year[36] - Cash flow from financing activities showed a net outflow of -533,762,708.33 RMB, compared to -1,479,300,000.00 RMB in the previous year[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,632,430,193.24, a decrease of 0.81% compared to the end of the previous year[5] - The company's total assets as of March 31, 2020, were CNY 4,866,015,446.19, slightly down from CNY 4,895,213,938.90 at the end of 2019[30] - Total liabilities decreased to CNY 1,301,903,957.45 in Q1 2020 from CNY 1,324,530,322.38 in Q4 2019, a reduction of approximately 1.7%[30] - The company’s total non-current liabilities decreased to CNY 690,000,000.00 in Q1 2020 from CNY 1,300,983,013.72 in Q4 2019, a reduction of 47.0%[30] Shareholder Information - The company had a total of 32,878 shareholders at the end of the reporting period[10] - The largest shareholder, Jiangsu Phoenix Publishing and Media Group Co., Ltd., held 52.12% of the shares[10] Operational Changes and Future Plans - The company plans to reduce its holdings in Nanjing Securities by up to 32,988,100 shares, representing no more than 1% of the total share capital[15] - The company is actively seeking alternative plans for the injection of Jiangsu Bank shares, considering the interests of minority shareholders and regulatory compliance[21] - The company will continue to disclose updates on the Jiangsu Bank share injection matter in a timely manner to inform investors of any developments[21] Legal and Regulatory Matters - The company is involved in a legal dispute regarding the ownership of a 22.69% stake in Nanjing Longfeng, with a court ruling confirming the stake belongs to the company[16] - The market value of Jiangsu Bank shares held by the Phoenix Group has reached over 6 billion RMB, but the feasibility of injecting these shares into Phoenix Co. is under reassessment due to regulatory and financial constraints[19] Employee Compensation - The company reported a significant decrease in employee compensation payable, from approximately 6.65 million RMB to about 570,000 RMB[26] - The company paid 8,758,008.84 RMB to employees in Q1 2020, down from 11,227,497.16 RMB in Q1 2019[36]

Financial Performance - The company's operating revenue for 2019 was CNY 1,301,698,174.21, representing a 24.33% increase compared to CNY 1,046,968,366.65 in 2018[21]. - The net profit attributable to shareholders of the listed company decreased by 84.96% to CNY 84,875,886.00 from CNY 564,175,319.97 in the previous year[21]. - The basic earnings per share for 2019 was CNY 0.0907, down 84.95% from CNY 0.6027 in 2018[23]. - The weighted average return on equity decreased to 1.61% from 14.05% in the previous year, a drop of 12.44 percentage points[23]. - The company reported a significant decrease in net cash flow from operating activities, dropping by 679.62% compared to the previous year[48]. - The net cash flow from operating activities was negative at CNY -246,608,046.87, a decline of 679.62% compared to CNY 42,546,449.26 in 2018[22]. - Non-recurring gains and losses in 2019 totaled approximately CNY 40.93 million, compared to CNY 591.23 million in 2018[29]. - The company reported a significant reduction in sales and management expenses, with sales expenses down by 30.33% to ¥32.59 million[58]. Assets and Liabilities - The total assets as of the end of 2019 were CNY 8,703,195,012.07, a decrease of 14.26% from CNY 10,150,113,749.23 at the end of 2018[22]. - Cash and cash equivalents decreased by 49.14% to ¥1,426,837,382.81, primarily due to repayment of company debts[63]. - Other receivables dropped by 98.77% to ¥14,611,786.98, mainly from the recovery of land compensation for the Tieguanxiang land[63]. - The current portion of non-current liabilities was reported at ¥831,881,917.82, reflecting a change in measurement category[112]. Investment Activities - The net cash flow from investing activities decreased by 33.11% to CNY 734,958,794.75 from CNY 1,098,804,403.24 in 2018[22]. - The net cash flow from investing activities was lower in 2019 compared to 2018, primarily due to the government reclaiming the Tieguanxiang land held by a subsidiary[24]. - The company received a total of CNY 23.22 billion in land compensation for a site in Nanjing, which was reclaimed by the government[37]. Financing Activities - The net cash flow from financing activities decreased significantly in 2019 due to the repayment of 14 Phoenix bonds and partial redemption of 16 Phoenix 01 bonds[24]. - The overall financing amount at the end of the reporting period was CNY 111,250,000, with an average financing cost of 4.68%[77]. - The company issued "14 Phoenix Bond" with a total principal of RMB 750 million, with an interest rate of 5.65%, and paid interest of RMB 56.50 per bond for the period from September 12, 2018, to September 11, 2019[194]. - The company redeemed the principal of "14 Phoenix Bond" amounting to RMB 750 million on September 12, 2019, resulting in a remaining bond balance of RMB 0[194]. Real Estate Development - The company's main business is real estate development, focusing on residential and commercial properties, with significant operations in Jiangsu and Anhui provinces[34]. - In 2019, the total real estate development investment reached CNY 13,219.4 billion, an increase of 9.9% year-on-year, with residential investment accounting for 73.43% of the total[35]. - The total area of new housing starts in 2019 was 2,271.54 million square meters, reflecting a growth of 8.5% compared to the previous year[35]. - The company's sales of commercial housing amounted to CNY 15,972.5 billion, a growth of 6.5% year-on-year, with residential sales increasing by 10.3%[35]. Strategic Initiatives - The company plans to transition towards elderly care real estate, focusing on a model that integrates home-based and institutional care[40]. - The company is actively exploring the health and elderly care industry, with the Phoenix Yiranju project as a pilot project[46]. - The company plans to increase land reserves in second-tier cities, particularly in Nanjing and Hefei, to ensure sustainable development amid market changes[92]. - The company aims to reduce inventory of commercial properties, focusing on sales strategies that integrate online and offline marketing to mitigate the impact of the pandemic[92]. Corporate Governance - The board of directors and supervisory board operate independently, ensuring compliance with legal and regulatory requirements, and protecting the interests of minority shareholders[182]. - The company has appointed Lixin Accounting Firm as its financial audit and internal control audit institution for the year 2019[119]. - The company maintains a transparent information disclosure policy, ensuring timely and accurate reporting in compliance with legal requirements[184]. - The company has not faced any penalties from securities regulatory agencies in the past three years[178]. Legal Matters - The company is involved in a significant lawsuit regarding shareholder qualification disputes, with a court ruling confirming ownership of 22.69% equity by a subsidiary[120]. - The company has initiated legal proceedings against Shanghai Tailong for not transferring its 22.69% stake in Nanjing Longfeng as per the agreement[134]. - The company is involved in a lawsuit regarding the distribution of surplus profits related to the land compensation[135]. Employee and Management Structure - The company employed a total of 115 staff members, with 21 in the parent company and 94 in major subsidiaries[179]. - The educational background of employees shows that 106 have a college degree or above, while 9 have a high school education or below[179]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to RMB 5.87727 million[176].

2019 年第三季度报告 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 2019 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 33 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 6,969,553,436.56 10,150,113,749.23 -31.34 归属于上市公司股 东的净资产 4,986,292,478.60 4,772,607,824.25 4.48 年初至报告期末 （1-9 月） 上年初至上年报告期 末 （1-9 月） 比上年同期增减 (%) 经营活动产生的现 金流量净额 -844,498,423.50 -73,139,553.13 不适用 年初至报告期末 （1-9 月） 上年初至上年报告期 末 （1-9 月） 比上年同期增减 （%） 营业收入 989,971,489.42 942,630,001.76 5.02 归属于上市公司股 东的净利润 3 ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 842,374,843.76, representing a 14.39% increase compared to CNY 736,426,073.87 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 29,915,125.87, a significant recovery from a loss of CNY 12,222,478.92 in the previous year[19]. - Basic earnings per share improved to CNY 0.0320 from a loss of CNY -0.0131 in the same period last year[20]. - The weighted average return on net assets was 0.61%, recovering from -0.38% in the previous year[20]. - The company reported a net profit of ¥31,478,399.99, a significant improvement compared to a net loss of ¥12,219,055.08 in the same period last year, marking a turnaround in performance[110]. - The company reported a total comprehensive income of ¥213,166,564.67, compared to ¥1,259,598,756.72 in the previous year, indicating a decrease in overall profitability[111]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -958,482,904.90, a decrease of 5,892.00% compared to CNY 16,548,384.25 in the same period last year[19]. - The company's cash and cash equivalents decreased by 45.98%, totaling 1,515,480,408.33 RMB at the end of the reporting period[37]. - The net cash flow from investing activities was 1,147,537,085.97 RMB, a substantial increase compared to -1,641,989.92 RMB in the first half of 2018[117]. - Cash outflow from operating activities increased to 1,311,419,131.36 RMB, compared to 752,742,631.82 RMB in the previous year[116]. - The ending balance of cash and cash equivalents was 1,488,392,946.78 RMB, down from 1,694,569,307.54 RMB in the previous year[117]. Assets and Liabilities - The total assets decreased by 23.91% to CNY 7,722,941,694.38 from CNY 10,150,113,749.23 at the end of the previous year[19]. - The company's total liabilities decreased significantly, with a notable reduction in payable bonds by 69.34% to 610,365,479.46 RMB[37]. - Total liabilities decreased from CNY 5,037,168,968.82 to CNY 2,396,830,349.30, a reduction of approximately 52.5%[103]. - The company reported a significant decrease in accounts payable from CNY 458,236,539.71 to CNY 248,840,358.10, a reduction of approximately 45.6%[103]. Investment and Shareholder Activities - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 93,606,059, based on the total share capital at the end of 2018[6]. - The company holds 240,248,813 shares of Nanjing Securities, making it the third-largest shareholder, with a stake of 7.28%[40]. - The company plans to exchange up to 98,964,360 shares of Nanjing Securities for ETF fund products between September 6, 2019, and March 4, 2020[43]. - The company completed a private placement of A-shares in 2016, raising approximately 199.99 million yuan from Phoenix Group, which committed to a 36-month lock-up period for the shares[55]. - The total number of ordinary shareholders is 38,482, indicating a stable shareholder base[73]. Market and Business Strategy - The company focuses on real estate development and sales, primarily in Jiangsu and Anhui provinces, with a business model centered on self-developed residential and commercial properties[25]. - The company aims to establish a leading position in the elderly care industry by developing high-quality elderly care communities and integrating healthcare services[26]. - The company is positioned to capitalize on the aging population trend, aiming for a synergistic development across healthcare and elderly care sectors[26]. - The company plans to focus on the sale of office buildings to reduce inventory, utilizing a "rent-to-sell" strategy[31]. - The overall real estate market is anticipated to cool down, with limited opportunities for significant policy shifts or stimulus growth factors[27]. Governance and Compliance - The company emphasizes risk control and governance structure, which supports its sustainable and healthy development in the real estate sector[29]. - Phoenix Group has pledged to maintain the independence of the listed company's operations, assets, personnel, finance, and institutions post-restructuring[54]. - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board[141]. - The company has not reported any significant changes in accounting policies or prior period errors that would affect the financial statements[124]. Financial Management and Accounting - The company has implemented new financial instrument standards effective January 1, 2019, reclassifying certain financial assets to align with the updated regulations[63]. - The company measures financial assets at fair value, with changes recognized in other comprehensive income for debt instruments[170]. - The company recognizes expected credit losses for financial assets based on significant increases in credit risk since initial recognition[178]. - The company applies the effective interest method to calculate interest on financial assets held[172]. - The company recognizes gains or losses from the derecognition of financial assets in the current period's profit or loss[174].