Financial Performance - Operating revenue increased by 63.23% year-on-year, reaching ¥544,387,180.06[6] - Net profit attributable to shareholders was ¥26,676,755.13, a significant recovery from a loss of ¥46,351,780.54 in the same period last year[6] - Basic and diluted earnings per share improved to ¥0.0285, compared to a loss of ¥0.0495 per share in the previous year[7] - The company's operating revenue for Q1 2019 was RMB 544.39 million, representing a 63.23% increase compared to RMB 333.50 million in the same period last year, primarily due to the delivery confirmation of the Yixing project[13] - The net profit for Q1 2019 was RMB 26.91 million, a significant improvement from a net loss of RMB 46.35 million in the same period last year, driven by higher sales prices from the Zhenjiang project[14] - Operating profit for Q1 2019 was ¥39,250,402.21, recovering from a loss of ¥43,050,806.49 in the same period last year[34] - Net profit for Q1 2019 was ¥26,910,379.52, compared to a net loss of ¥46,349,568.76 in Q1 2018, indicating a turnaround in profitability[34] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥507,523,255.09, worsening from a negative cash flow of ¥130,398,720.35 in the same period last year[6] - The company’s cash received from residential sales decreased by 45.54% to RMB 194.52 million, indicating a slowdown in cash inflow compared to the previous year[14] - The company reported cash inflows from operating activities of ¥1,043,135,977 in Q1 2019, a notable increase from ¥1,652,022 in Q1 2018, highlighting a strong operational performance[44] - The net cash flow for the quarter was negative at -¥558,935,516, indicating challenges in cash management despite positive operating cash flow[45] - Cash outflow for operating activities included CNY 449,180,159.01 in taxes paid, up from CNY 134,463,622.37 in the previous year[41] Assets and Liabilities - Total assets decreased by 12.62% from the end of the previous year, amounting to ¥8,869,661,008.39[6] - The company's total liabilities decreased to approximately 2.82 billion RMB from 5.04 billion RMB, reflecting a significant reduction of about 44%[27] - Total liabilities decreased to ¥2,223,939,398.82 from ¥2,830,489,679.95, reflecting a reduction in financial obligations[32] - The company's total current liabilities as of March 31, 2019, were approximately 1.59 billion RMB, down from 2.73 billion RMB, a decrease of about 41.7%[27] - The total amount of short-term borrowings and other current liabilities was ¥839,443,104.61[53] Shareholder Information - The total number of shareholders reached 33,827, indicating a stable shareholder base[9] - Jiangsu Phoenix Publishing & Media Group Co., Ltd. holds 52.12% of the shares, maintaining its position as the largest shareholder[9] - The company's net assets attributable to shareholders increased by 19.56% to ¥5,706,223,847.70 compared to the end of the previous year[6] - The equity attributable to shareholders increased to approximately 5.71 billion RMB as of March 31, 2019, compared to 4.77 billion RMB at the end of 2018, marking an increase of about 19.7%[28] Tax and Financial Expenses - The company reported a 234.05% increase in tax payments to RMB 449.18 million, mainly due to corporate income tax related to the land compensation[15] - The company reported a financial expense of ¥31,721,475.54, an increase from ¥29,542,133.30 in Q1 2018[34] - Financial expenses increased to CNY 37,667,940.80 from CNY 32,961,289.12, with interest expenses rising to CNY 39,444,154.11[38] Investments and Other Income - The company reported a non-recurring gain of ¥643,806.17, primarily from investment income[8] - The fair value of equity investments in Nanjing Securities increased to RMB 906.94 million, up from zero, due to valuation gains[14] - The company received a total of RMB 2.322 billion in land compensation for the recovery of the Tieguanxiang land, with 50% of the compensation already received in previous months[17] - The company received CNY 60,000,000.00 from investment recoveries during the first quarter[41] Future Outlook and Plans - The company anticipates a positive cumulative net profit for the year due to the concentrated delivery of projects in Zhenjiang and Yixing, along with reduced financial costs from early repayment of bonds[26] - The company plans to continue monitoring the progress of the land recovery and will take necessary actions to ensure compliance with agreements regarding the ownership of shares[18] - The company is exploring the feasibility of injecting Jiangsu Bank's equity into Phoenix Holdings, contingent on regulatory compliance and the protection of minority shareholders' interests[21] - The company is in discussions with Phoenix Group regarding the potential equity injection of Jiangsu Bank, which requires reassessment of feasibility and compliance with banking regulations[21]

Financial Performance - In 2018, the company's operating revenue was approximately CNY 1.05 billion, a decrease of 22.05% compared to CNY 1.34 billion in 2017[21]. - The net profit attributable to shareholders of the listed company was approximately CNY -27.05 million, compared to a net loss of CNY 159.58 million in 2017[21]. - The net cash flow from operating activities decreased by 79.65% to CNY 42.55 million from CNY 209.06 million in the previous year[21]. - The basic earnings per share for 2018 was CNY 0.6027, a significant improvement from CNY -0.1645 in 2017[22]. - The weighted average return on equity was 14.05%, compared to -4.54% in the previous year[22]. - The company achieved a total revenue of approximately ¥1,046.97 million, a decrease of 22.05% compared to the previous year[46]. - The net profit attributable to the parent company was approximately ¥564.18 million[46]. - The company reported a significant decrease in net cash flow from operating activities, down 79.65% to approximately ¥42.55 million, primarily due to land payment in Zhenjiang[49]. - The company reported a significant increase in prepayments by 83.74% to 663,431,286.92 CNY, attributed to the recovery of funds from the Yixing project[63]. - The company’s total revenue for the year was 837,644,926.50 CNY, a decrease of 29.53% compared to the previous year[55]. - The company reported a significant decrease in sales area for commercial housing in 2019, expected to decline substantially due to policy adjustments[84]. Cash Flow and Investments - The net cash flow from investment activities increased significantly by 746.11% to CNY 1.10 billion, primarily due to compensation received for land recovery[21][23]. - The company’s cash flow from operating activities showed a net outflow of -¥130,398,720.35 in Q1, followed by a positive inflow of ¥146,947,104.60 in Q2, and fluctuating results in subsequent quarters[26]. - The investment activities generated a net cash flow of approximately ¥1.10 billion, significantly up from the previous year's ¥129.87 million due to land compensation receipts[49]. - The company has committed to building a multi-story parking garage with a total construction area of 3,740.72 square meters, valued at CNY 22,828,304.91[66]. - The company has a total investment of CNY 97,000,000.00 in the Jiangsu Phoenix Cultural Plaza project, with an actual investment of CNY 2,457,000.00 during the reporting period[70]. Real Estate Development - The company's main business focuses on real estate development and sales, primarily in Jiangsu and Anhui provinces, with a strong reputation in residential and commercial property sectors[33]. - In 2018, the company's real estate development investment reached CNY 120,264 million, an increase of 9.5% compared to the previous year[34]. - The residential investment accounted for 70.8% of the total real estate development investment, amounting to CNY 85,192 million, with a growth rate of 13.4%[34]. - The total area of new housing construction in 2018 was 209,342 thousand square meters, reflecting a growth of 17.2% year-on-year[34]. - The company's sales area of commercial housing was 171,654 thousand square meters, with a growth of only 1.3%, a decrease of 6.4 percentage points from the previous year[34]. - The total sales revenue from commercial housing reached CNY 149,973 million, growing by 12.2%, but this was a decline of 1.5 percentage points compared to the previous year[34]. - The company's land acquisition area in 2018 was 29,142 thousand square meters, increasing by 14.2%, but this represented a decrease of 1.6 percentage points from the previous year[34]. Elderly Care Initiatives - The company aims to establish a leading position in the elderly care industry by developing high-quality elderly care communities and integrating healthcare services[37]. - The company has entered the health and elderly care industry, launching the "Phoenix Yiran Residence" project in Yixing, Jiangsu, focusing on high-end elderly care services[43]. - The company plans to enhance its elderly care community offerings by integrating medical care, elderly care, and tourism services into a cohesive management model[43]. - The company aims to establish a comprehensive elderly care service system, integrating home care, institutional support, and community services[87]. - The company plans to focus on the development of elderly care real estate as a strategic direction, aiming to enhance its competitive strength[86]. Governance and Management - The company maintained a good governance structure, holding 7 board meetings, 5 supervisory meetings, and 2 shareholder meetings during the reporting period[45]. - The company has a diverse management team with members holding various roles in the Jiangsu Phoenix Publishing Group[146]. - The company has established a governance structure that separates the interests of controlling shareholders from those of minority shareholders[156]. - The company has appointed Lixin Accounting Firm as its financial and internal control auditor for the 2018 fiscal year[105]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[106]. Financial Position - The total assets of the company increased by 23.06% to approximately CNY 10.15 billion from CNY 8.25 billion in 2017[21]. - The net assets attributable to shareholders of the listed company increased by 46.42% to approximately CNY 4.77 billion compared to CNY 3.26 billion in 2017[21]. - The company's cash and cash equivalents at the end of the period were 2,805,263,726.36 CNY, representing 27.64% of total assets, an increase of 40.01% from the previous year[63]. - The company's total current assets were RMB 7,439,537,048.69, slightly down from RMB 7,518,193,845.12 at the beginning of the year[188]. - The company's total liabilities rose to CNY 5,037,168,968.82, compared to CNY 4,882,636,152.72, indicating an increase of about 3.2%[190]. Shareholder Information - The total number of ordinary shares outstanding is 936,060,590, with 910,220,797 shares being freely tradable, representing 97.24% of the total[128]. - The largest shareholder, Jiangsu Phoenix Publishing and Media Group Co., Ltd., holds 487,883,543 shares, accounting for 52.12% of the total shares[132]. - Jiangsu Phoenix Publishing and Media Group Co., Ltd. is the controlling shareholder, holding 72.8% of the shares in the listed company[136]. - The company has 25,839,793 restricted shares that will become tradable on January 18, 2019, after a lock-up period of 36 months[134]. Risk Factors - The company faces industry risks due to tightening financing policies and regulatory pressures in the real estate market, which may impact its operations[89]. - The company has a high proportion of office building inventory, which is experiencing slow turnover under current economic conditions, prompting a need for product structure adjustments[89].

Financial Performance - Operating revenue for the first nine months reached CNY 942,630,001.76, a growth of 28.90% year-on-year[7] - Net profit attributable to shareholders improved by 69.39% to a loss of CNY 30,564,859.93 compared to a loss of CNY 99,849,642.60 in the same period last year[8] - The company's net profit attributable to shareholders increased by 65.40% compared to the same period last year, driven by higher operating income and reduced financial expenses[15] - The basic and diluted earnings per share both rose by 65.40% year-on-year, reflecting significant profit growth[16] - The net profit for the third quarter of 2018 was a loss of CNY 20,420,710.34, compared to a loss of CNY 21,313,109.23 in the same quarter last year[33] - The total comprehensive income for the third quarter of 2018 was a loss of CNY 280,189,739.18, compared to a loss of CNY 21,313,109.23 in the same quarter last year[34] - The company's total equity as of the end of the reporting period was CNY 3,353,359,475.51, a decrease from CNY 3,460,573,258.03 at the end of the previous period[29] - The total comprehensive loss for the first nine months was -107,213,782.52 RMB, compared to -105,615,534.56 RMB in the same period last year[37] Cash Flow - Cash flow from operating activities showed a significant decline, with a net outflow of CNY 73,139,553.13, down 164.42% from the previous year[7] - Operating cash flow decreased by 164.42% year-on-year, primarily due to land auction payments for the Zhenjiang project[16] - The net cash flow from operating activities for the first nine months was -73,139,553.13 RMB, a decrease from 113,536,954.66 RMB in the same period last year[38] - Cash outflow from operating activities amounted to $555,795,475.00, up from $493,161,812.44[42] - Cash flow from financing activities showed a net outflow of -$127,785,338.89, compared to -$251,757,315.73 previously[42] - The net increase in cash and cash equivalents was -$461,062,901.23, compared to -$310,704,218.17 in the previous period[42] Assets and Liabilities - Total assets increased by 9.75% to CNY 9,052,968,891.16 compared to the end of the previous year[7] - Current assets decreased to ¥6,917,589,728.04 from ¥7,518,193,845.12, a decline of about 8%[23] - Total liabilities amounted to ¥4,707,817,025.98, compared to ¥4,882,636,152.72, indicating a reduction of approximately 3.6%[24] - Non-current liabilities decreased to ¥2,430,946,414.82 from ¥2,838,065,313.61, a decrease of around 14.3%[24] - Shareholders' equity increased to ¥4,345,151,865.18 from ¥3,365,742,847.64, reflecting a growth of approximately 29%[25] - The total liabilities to equity ratio improved to approximately 1.08 from 1.45, suggesting a stronger equity position[24] Shareholder Information - The number of shareholders reached 37,420 by the end of the reporting period[12] - The largest shareholder, Jiangsu Phoenix Publishing and Media Group, holds 52.12% of the shares[13] Other Financial Metrics - The weighted average return on net assets increased by 1.85 percentage points to -0.89%[8] - The company reported a basic and diluted earnings per share of -0.0349 CNY, an improvement of 65.40% from the previous year[8] - Non-operating income and expenses included a loss of CNY 1,716,159.73 primarily due to penalties for contract breaches[11] - The company incurred financial expenses of CNY 31,960,726.23 in the third quarter, down from CNY 42,252,000.95 in the same quarter last year[32] - The company reported financial expenses of 101,716,217.88 RMB for the first nine months, compared to 97,713,094.49 RMB in the previous year[36] Asset Reclassifications and Changes - Other current assets increased by 2664.92%, mainly due to the reclassification of prepaid VAT and the transfer of resettlement housing[17] - The fair value of available-for-sale financial assets rose by 282.31% due to a change in accounting treatment following the listing of Nanjing Securities[17] - Deferred tax liabilities increased by 325.76%, attributed to temporary differences in the fair value of available-for-sale financial assets[17] - The company reported a total of ¥1,827,390,676.09 in available-for-sale financial assets, up from ¥477,992,298.81, indicating a significant increase[23] Future Expectations - The company expects to recognize significant income from government land recovery compensation, which will materially impact annual profits[19] - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company did not report any new product launches or significant market expansion strategies during this period[35]

Financial Performance - The company's operating revenue for the first half of 2018 was approximately ¥736.43 million, representing a 65.95% increase compared to ¥443.76 million in the same period last year[18]. - The net profit attributable to shareholders was approximately -¥12.22 million, an improvement from -¥72.62 million in the previous year[18]. - The net cash flow from operating activities was approximately ¥16.55 million, a significant increase from -¥51.28 million in the same period last year[18]. - The company's operating revenue for the reporting period was CNY 736.43 million, an increase of 65.95% compared to the same period last year[30]. - The net profit attributable to shareholders of the parent company was CNY -12.22 million, a reduction in loss by CNY 60.40 million compared to the previous year[30]. - The company's operating costs increased by 76.46% to CNY 651.11 million compared to the previous year[32]. - The company's financial expenses decreased by 21.52% to CNY 59.04 million compared to the previous year[32]. - The company's net profit for the first half of 2018 was negative, indicating potential losses for the entire year[47]. - The total revenue for the first half of 2018 was approximately CNY 1.26 billion, with a significant portion attributed to real estate sales[45]. - The company anticipates limited revenue recognition in Q3 2018 due to ongoing pre-sales and delayed land payment processes[47]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥9.26 billion, up 12.30% from ¥8.25 billion at the end of the previous year[18]. - The net assets attributable to shareholders increased by 38.64% to approximately ¥4.52 billion from ¥3.26 billion at the end of the previous year[18]. - The company's total assets decreased by 14.13% to 1,720,558,829.23 yuan, compared to the previous period's total assets of 2,003,637,139.52 yuan[35]. - The total liabilities decreased to ¥2,795,113,580.22 from ¥2,822,752,512.51 in the previous year[100]. - The total equity increased to CNY 4,625,341,604.36 from CNY 3,365,742,847.64[96]. Cash Flow - The net cash flow from operating activities increased dramatically, primarily due to the first-time pre-sale receipts from the Yixing project and tax refunds from the Fenghuang and Mei projects[33]. - The net cash flow from investment activities increased significantly as the company reduced its purchase of financial products compared to the previous year[34]. - The net cash flow from financing activities decreased sharply due to the repayment of 200 million yuan in loans to Jiangsu Phoenix Publishing and Media Group, with no new borrowings in the current period[34]. - The company's cash and cash equivalents decreased to CNY 1,720,558,829.23 from CNY 2,003,637,139.52[94]. - The cash inflow from financing activities was ¥500,000,000.00, while cash outflow was ¥293,448,166.67, resulting in a net cash flow from financing activities of -¥293,448,166.67[109]. Shareholder Information - The total number of shares outstanding is 936,060,590, with 910,220,797 shares classified as unrestricted circulating shares, representing 97.24% of the total[66]. - The largest shareholder, Jiangsu Phoenix Publishing and Media Group Co., Ltd., holds 487,883,543 shares, representing 52.12% of total shares[69]. - The total number of ordinary shareholders at the end of the reporting period is 38,642[67]. - The company has not experienced any changes in the shareholdings of its directors, supervisors, and senior management during the reporting period[74]. - The company did not propose any profit distribution or capital reserve fund transfer plan for the half-year period[51]. Debt and Financing - The company maintains a long-term credit rating of AA and a bond credit rating of AAA, indicating a strong ability to repay debts with low default risk[85]. - The interest rate for "14 Phoenix Bond" is 5.65%, while "16 Phoenix 01" has an interest rate of 4.59%[79]. - The company has effectively executed its debt repayment plans and other guarantees as disclosed in the fundraising prospectus, with no changes reported[86]. - The company has a commitment from its controlling shareholder to minimize related party transactions following the completion of the major asset restructuring[54]. Market Conditions - The real estate market in China is experiencing tightening policies, with a 3.3% year-on-year increase in national commercial housing sales area for the first half of 2018[26]. - The company is facing risks related to high office building inventory, which is moving slowly in the current economic environment[48]. - The company plans to adjust its product structure and marketing strategies in response to current market conditions[48]. Corporate Governance - The company confirmed that there were no major litigation or arbitration matters during the reporting period[58]. - The company has committed to maintaining independence in operations, assets, personnel, and finance post-restructuring to enhance competitiveness and sustainability[55]. - The company has engaged Lixin Accounting Firm for its 2018 financial audit, ensuring accurate and timely service[58]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting and compliance[135]. - The company recognizes intermediary costs related to business combinations, such as audit and legal services, as expenses in the current period[143]. - The company applies an aging analysis method for bad debt provision, with percentages ranging from 10% for accounts under 1 year to 100% for those over 4 years[158].

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 2018 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2018 年第一季度报告 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 主要财务数据变动说明： 营业收入：主要是本期泰兴项目住宅交付量较大，可供结转的收入增加较大。 归属于上市公司股东的净利润：泰兴、镇江项目因地价较高、销售价格受政府限制导致销售毛利 率偏低，造成本期盈利能力不足。 归属于上市公司股东的扣除非经常性损益的净利润：同上。 3 / 19 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 7,617,971,527.36 8,248,379,000.36 -7.64 归属于上市公司 股东的净资产 3,213,097,254.14 3,259,449,034.68 -1.42 年初至报告期末 上年初至上年报告期末 比上年同期增减(%) 经营活动产生的 现金流量净 ...

Financial Performance - The net profit attributable to shareholders for 2017 was -154,013,716.62 CNY, a decrease of 393.73% compared to the previous year[5]. - Operating revenue for 2017 was 1,343,112,300.87 CNY, down 26.14% from 1,818,479,449.05 CNY in 2016[21]. - The basic earnings per share for 2017 was -0.1645 CNY, a decline of 388.60% compared to 0.0570 CNY in 2016[22]. - The weighted average return on equity was -4.54% for 2017, a decrease of 6.10 percentage points from 1.56% in 2016[22]. - Cash flow from operating activities was 209,056,343.64 CNY, down 70.67% from 712,818,525.49 CNY in 2016[21]. - The company proposed not to distribute profits for 2017 due to the negative net profit[5]. - The net profit attributable to shareholders for the fourth quarter was -¥59,664,989.35, reflecting a substantial decrease in profitability due to high land costs and low sales gross margins[23]. - The company reported a significant decrease in net cash flow from operating activities, down 70.67% to CNY 209,056,343.64[47]. - The company reported a net loss of 154 million yuan for 2017 and will not distribute profits or increase capital reserves due to this negative profit[93]. Assets and Liabilities - The total assets decreased by 15.86% to 8,248,379,000.36 CNY from 9,802,834,893.76 CNY in 2016[21]. - The company's net assets attributable to shareholders decreased by 7.06% to 3,259,449,034.68 CNY from 3,507,068,810.40 CNY in 2016[21]. - Total assets at the end of the reporting period amounted to ¥8,227,000,000, a decrease of 22.86% compared to the previous period[61]. - Cash and cash equivalents decreased to ¥2,003,637,139.52, representing 24.29% of total assets, down from 26.50%[61]. - Inventory decreased to ¥4,301,749,762.53, accounting for 52.15% of total assets, a decline of 30.94% from the previous period[61]. - Accounts payable increased to ¥955,263,689.11, representing 11.58% of total liabilities, up 50.52% from the previous period[61]. - The company has no long-term borrowings at the end of the reporting period, a decrease of 100% from ¥193,171,428.00 in the previous period[61]. Real Estate Development - The company’s main business is concentrated in Jiangsu and Anhui provinces, focusing on residential and commercial real estate development[29]. - The company aims to enhance its market presence and brand recognition in the real estate sector, particularly in Jiangsu province, to ensure sustainable growth[29]. - The company is transitioning into the health and elderly care industry, launching the "Phoenix Yiranju" project in Yixing, Jiangsu[43]. - The company plans to focus on developing high-quality elderly care communities, aiming to establish a strong brand and competitive advantage in the industry[30]. - The company plans to enhance its elderly care community offerings by collaborating with care teams to provide integrated services[44]. - The company is focusing on developing high-end elderly care projects with comprehensive services and management[43]. - The company plans to expand its real estate development projects in multiple cities, including Suzhou and Nanjing, to enhance market presence[67]. Market Trends and Risks - The real estate market is expected to enter a downward cycle in 2018, with sales area projected to decline, particularly in second-tier cities, while first-tier cities may remain stable[85]. - The company faces risks related to industry policies, product structure, and insufficient land reserves, particularly in the context of tightening financing and regulatory pressures[90][91]. - The company reported a significant increase in investment properties, rising to ¥154,468,394.11, a growth of 1,095.6% compared to the previous period[61]. Governance and Compliance - The company held 7 board meetings, 6 supervisory meetings, and 2 shareholder meetings during the reporting period, maintaining good governance practices[44]. - The company has established a salary management system that emphasizes performance-based pay to enhance competitiveness[164]. - The company has received a standard unqualified opinion on its internal control audit report for 2017[176]. - The company actively engages with institutional and individual investors to enhance understanding and recognition of its investment value[169]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate reporting of financial information[169]. Financial Management - The company maintained a 100% interest payment rate, indicating no defaults on debt obligations[190]. - The company confirmed that it utilized previously obtained bank credit with no new bank credit acquired during the reporting period[191]. - The company’s debt repayment plans and guarantees remain consistent with the disclosures in the fundraising prospectus[185]. - The company’s financial situation and the performance of its bonds are expected to remain stable, with no adverse economic impacts anticipated[184]. Employee and Shareholder Information - The company employed a total of 131 staff, with 21 in the parent company and 110 in major subsidiaries[163]. - The total number of ordinary shareholders at the end of the reporting period was 39,442, an increase from 38,589 at the end of the previous month[140]. - The company has a total of 9 directors, supervisors, and senior management, with varying levels of shareholding and remuneration[155]. - The largest shareholder, Jiangsu Phoenix Publishing and Media Group, is a state-owned legal entity[142].

Financial Performance - Operating revenue for the first nine months was CNY 731,314,876.32, down 31.82% year-on-year [7]. - Net profit attributable to shareholders was a loss of CNY 94,348,727.27, representing a decrease of 899.23% compared to the same period last year [7]. - The weighted average return on net assets was -2.74%, a decrease of 3.10 percentage points year-on-year [8]. - Basic earnings per share were -0.1008 CNY, down 881.40% from the previous year [8]. - The company's operating revenue decreased by 31.82% compared to the same period last year, primarily due to reduced sales from the Phoenix Mountain Villa and Hefei residential projects [12]. - The net profit attributable to shareholders decreased by 899.23%, significantly impacted by lower sales prices in the Nantong, Taixing, and Zhenjiang projects [12]. - Basic earnings per share dropped by 881.4%, reflecting a substantial decline in main business income compared to the previous year [12]. - The company reported a net loss of CNY 66,357,134.82 for the current period, compared to a profit of CNY 132,864,458.84 in the previous period [25]. - The net profit for Q3 2017 was -21,313,109.23 RMB, compared to a profit of 5,866,853.23 RMB in the same period last year, indicating a significant decline [29]. - The total profit for Q3 2017 was -20,556,719.11 RMB, down from a profit of 15,611,515.09 RMB in Q3 2016, reflecting a year-over-year decrease of approximately 231.5% [29]. Cash Flow - Cash flow from operating activities was CNY 113,536,954.66, compared to a negative cash flow of CNY 181,920,500.23 in the same period last year [7]. - Cash flow from investment activities increased by 329.22% year-on-year, mainly due to the recovery of principal from bank wealth management products [12]. - Cash flow from financing activities decreased by 119.09% compared to the previous year, as there were no significant fundraising activities like stock issuance or bond issuance this year [15]. - The net cash flow from operating activities for the first nine months of 2017 was ¥113,536,954.66, a significant improvement compared to a net loss of ¥181,920,500.23 in the same period last year [34]. - The net cash flow from financing activities was negative at -¥472,382,862.56, a stark contrast to a positive net cash flow of ¥2,474,916,970.81 in the previous year [35]. - The company’s cash flow from operating activities was negative at -¥58,946,902.44 for the first nine months, compared to -¥2,215,854,534.47 in the same period last year [37]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,184,138,575.53, a decrease of 6.31% compared to the end of the previous year [7]. - The total assets decreased from CNY 9,802,834,893.76 at the beginning of the year to CNY 9,184,138,575.53 at the end of the reporting period [20]. - The total liabilities and equity combined were CNY 9,184,138,575.53, down from CNY 9,802,834,893.76 at the beginning of the year, reflecting a decrease of about 6.3% [22]. - The total liabilities as of September 30, 2017, were CNY 5,755,029,497.34, down from CNY 6,186,734,391.61 at the start of the year, reflecting a reduction of approximately 7% [22]. - The company's total equity decreased to CNY 3,429,109,078.19 from CNY 3,616,100,502.15, a decline of about 5.2% [22]. Shareholder Information - The total number of shareholders at the end of the reporting period was 40,865 [9]. - The largest shareholder, Jiangsu Phoenix Publishing and Media Group Co., Ltd., held 52.12% of the shares [9]. Other Financial Metrics - Non-operating income for the first nine months amounted to CNY 2,779,921.19 [9]. - The company reported a total of CNY 10,500,796.62 in non-recurring gains from the disposal of non-current assets [8]. - Prepayments increased by 52.95%, primarily due to prepayment for water supply facilities in the Zhenjiang project [13]. - Fixed assets rose by 102.08% as a result of the transfer of development products from the Phoenix Mountain Villa project to self-use [13]. - The company anticipates a significant loss in cumulative net profit for the year due to a substantial decline in sales revenue and high financial costs [16]. - The company is facing land recovery issues for the Dongtieguancun A and C plots, which will be repackaged and re-listed for sale by the Nanjing government [14].

Financial Performance - The company's operating revenue for the first half of 2017 was ¥443,760,084.82, a decrease of 44.65% compared to ¥801,723,753.11 in the same period last year[15]. - The net profit attributable to shareholders was -¥72,621,920.75, a significant decline of 1,327.12% from ¥5,918,100.67 in the previous year[15]. - The basic earnings per share for the first half of 2017 was -¥0.0776, down 1,275.76% from ¥0.0066 in the same period last year[16]. - The company's net profit for the first half of 2017 was negative, and it is projected that the cumulative net profit for the year may also be a loss due to the inability to recognize revenue from pre-sold properties[45]. - The company's total comprehensive loss for the period was CNY 67,867,452.05, compared to a loss of CNY 49,311,606.52 in the previous year[111]. - The company's total equity decreased to approximately 3.54 billion yuan from 3.62 billion yuan year-on-year[101]. Cash Flow and Investments - The net cash flow from operating activities was -¥51,276,005.75, compared to -¥527,604,750.63 in the same period last year, indicating an improvement[15]. - Net cash flow from investing activities decreased sharply to -¥373.31 million from -¥16.23 million due to the purchase of bank financial products[33]. - Financing activities generated a net cash inflow of CNY 350,998,361.75, a decrease from CNY 2,716,514,455.06 in the previous year, reflecting reduced financing activities[115]. - The company received CNY 820,000,000.00 from investment recoveries during the first half of 2017, with no comparable figure from the previous year[114]. Market Conditions and Strategy - The decline in operating revenue was attributed to fewer project deliveries and higher costs of ongoing projects compared to the previous year[17]. - The decline in revenue was primarily due to poor sales performance in Nantong and the high inventory of less desirable units, leading to discounted sales[30]. - The company plans to enhance the sales of existing properties, particularly focusing on the inventory of office buildings in the second half of 2017[30]. - The company is leveraging opportunities in the elderly care industry by developing high-quality elderly care communities, aiming to establish a competitive advantage[24]. Assets and Liabilities - The company's total assets increased by 2.08% to ¥10,007,199,957.65 from ¥9,802,834,893.76 at the end of the previous year[15]. - Total liabilities rose to approximately 6.46 billion yuan, compared to 6.19 billion yuan at the end of the previous year[100]. - The company's equity decreased to approximately 3.54 billion yuan from 3.62 billion yuan year-on-year[101]. Corporate Governance and Structure - The company has established a governance structure with a shareholders' meeting, board of directors, and supervisory board to enhance corporate governance[135]. - The company is a state-controlled entity, benefiting from the support of its major shareholder, Jiangsu Phoenix Publishing and Media Group[26]. - The company has made commitments to ensure independence in operations, assets, personnel, and finance following its major asset restructuring[51]. Risks and Challenges - The real estate market is facing significant risks due to national policy adjustments, including restrictions on sales and loans, which have led to a decline in the market's prosperity index[46]. - The company has a high inventory of office buildings, which is causing slow sales and challenges in inventory turnover under the current economic conditions[46]. - The company currently has only one piece of land reserved in Nanjing, which is temporarily undevelopable due to government planning adjustments, highlighting a risk of insufficient land reserves[46]. Accounting and Financial Reporting - The company adheres to the Chinese Accounting Standards, ensuring that its financial statements accurately reflect its financial position and operating results[139]. - The company has not reported any major accounting errors or changes in accounting policies during the reporting period[63]. - The company recognizes its share of assets and liabilities in joint operations and accounts for income and expenses accordingly[152].

2017 年第一季度报告 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 2017 年第一季度报告 1 / 20 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 9 | 2017 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 20 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 9,527,440,588.20 9,802,834,893.76 -2.81 归属于上市公司股东的净资产 3,496,309,700.96 3,507,068,810.40 -0.31 年初至报告期末 上年初至上年报告 期末 比上年同期增减(%) 经营活动产生的现金流量净额 -179,234,577.44 -57,505,716.45 不适用 年初至报告期末 上年初至上年报告 期末 比上年同期增减（%） 营业收入 186,579,937.06 218,570,555.45 -14.64 归属于上市公司股东的 ...

Financial Performance - The company's operating revenue for 2016 was approximately CNY 1.82 billion, representing a 70.83% increase compared to CNY 1.06 billion in 2015[18]. - The net profit attributable to shareholders for 2016 was CNY 52.43 million, a significant recovery from a loss of CNY 74.78 million in 2015[18]. - The net cash flow from operating activities increased by 73.27% to CNY 712.82 million in 2016, up from CNY 411.39 million in 2015[18]. - The total assets of the company at the end of 2016 were CNY 9.80 billion, a 26.79% increase from CNY 7.73 billion in 2015[18]. - The net assets attributable to shareholders rose to CNY 3.51 billion, marking a 77.61% increase from CNY 1.97 billion in 2015[18]. - The basic earnings per share for 2016 was CNY 0.057, recovering from a loss of CNY 0.101 in 2015[19]. - The weighted average return on equity for 2016 was 1.56%, a recovery from -3.65% in 2015[19]. - The company reported a total revenue of 5,458,000,000 RMB for the year 2016[140]. Market Expansion and Strategy - The company plans to continue expanding its market presence and is focused on reducing financing costs through various fundraising methods[20]. - The company plans to focus on developing high-quality elderly care communities, aiming to establish a strong brand and competitive advantage in the growing eldercare market[29]. - The company aims to leverage opportunities in the eldercare industry to create new profit growth points and enhance its market position[29]. - The company is actively expanding its cultural real estate projects, replicating the cultural theme real estate development model in Nanjing and surrounding cities[34]. - The company plans to continue expanding its market presence and product offerings in the upcoming year[67]. - The company plans to focus on the development of senior housing as a strategic direction, aiming to establish a comprehensive elderly care service system[100]. - The company aims to reduce inventory of commercial properties by implementing various marketing strategies, including online sales platforms[101]. Operational Efficiency - The net cash flow from operating activities improved dramatically from -¥57,505,716.45 in Q1 to ¥894,739,025.72 in Q4, reflecting enhanced operational efficiency[22]. - The company reported a significant increase in sales collections from projects in Zhenjiang and Hefei, contributing to improved cash flow[60]. - The company successfully raised CNY 1.48 billion through a private placement of shares and CNY 2 billion through bond issuance, reducing financial costs by 37.82%[55]. - The company will strengthen internal controls and cost management in 2017 to improve operational efficiency[101]. Real Estate Development - The company operates primarily in Jiangsu and Anhui provinces, with a portfolio of 8 ongoing real estate projects, including residential and commercial developments[28]. - The company’s core business model focuses on self-developed residential and commercial real estate, with a strong emphasis on sales and leasing[29]. - The total cost of real estate development was CNY 1.30 billion, representing 99.96% of total costs, with a year-on-year increase of 109.24%[68]. - The company has ongoing projects with a total planned construction area of 313,101.84 square meters in Hefei, with an actual investment of ¥149,200,000.00[79]. Financial Management and Investments - The company has commitments from its controlling shareholder, Phoenix Group, to avoid engaging in similar business activities that conflict with the interests of the listed company and its subsidiaries[111]. - The company has engaged in cash asset management, with a total entrusted amount of 2,000 million RMB across various fixed and floating income products[135]. - The company has a strategy to ensure that cash management does not affect the normal operation of its investment plans[140]. - The company completed a non-public offering of 195,459,956 shares at a price of 7.74 RMB per share, increasing its total shares from 740,600,634 to 936,060,590[141]. Governance and Compliance - The company has established a comprehensive corporate governance structure in compliance with relevant laws and regulations[190]. - The board of directors is committed to ensuring corporate governance and compliance with regulations[183]. - The company has not reported any restrictions on share reduction, suggesting a potential for future liquidity events[172]. - The company has maintained a clear ownership and control relationship with its actual controller, ensuring alignment of interests[171]. Shareholder Structure - The total number of unrestricted circulating shares is 740,600,634, accounting for 79.12% of the total[147]. - The proportion of shares held by controlling shareholders and their affiliates decreased from 62.79% to 52.44%[156]. - The total number of ordinary shareholders decreased from 41,114 to 34,679 during the reporting period[157]. - The top shareholder, Jiangsu Phoenix Publishing and Media Group Co., Ltd., holds 52.12% of shares, with an increase of 25,839,793 shares during the period[160]. Leadership and Management - The company appointed Wang Lie as the general manager on July 11, 2016, and he was elected as a director on December 27, 2016[181]. - The company has a diverse executive team with a mix of male and female leaders, including four vice presidents and a general manager assistant[178]. - The total pre-tax compensation for the chairman, Zhou Bin, was reported as 0 yuan, reflecting a potential focus on long-term growth over immediate financial rewards[174]. - The company has a clear strategy for maintaining its board composition, with new appointments aimed at enhancing expertise[177].