Financial Performance - The company's operating revenue for Q3 2021 was ¥165,525,544.91, a decrease of 9.06% compared to the same period last year[4] - The net profit attributable to shareholders was -¥12,579,372.31, an increase of 4.08% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥12,546,766.91, reflecting a 26.54% increase compared to the previous year[4] - The basic earnings per share for the current period was -¥0.0397, an increase of 4.11% year-on-year[4] - The net profit for the period was 74.02 million RMB, reflecting a recovery in business operations as the pandemic was effectively controlled[15] - The company reported a net loss of -¥27,326,553.38 for the total profit, an improvement from -¥112,344,217.34 in the previous year[29] - The total comprehensive income attributable to the parent company was -32,112,564.64 CNY, compared to -105,562,465.30 CNY in the same period last year, showing an improvement[35] - The net profit from continuing operations was -28,833,625.20 CNY, an improvement from -110,962,584.26 CNY year-over-year[33] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥90,764,163.31, an increase of 213.63% year-on-year[4] - The net cash flow from operating activities increased to 213.63 million RMB, driven by rising sales revenue due to the recovery of business operations[15] - Cash inflows from operating activities totaled 651,086,699.41 CNY, down from 1,022,214,366.46 CNY year-over-year[35] - Cash outflows from operating activities were 560,322,536.10 CNY, compared to 993,274,593.71 CNY in the same period last year[35] - The net cash flow from operating activities was 90,764,163.31 CNY, an increase from 28,939,772.75 CNY year-over-year[39] - The net cash flow from investing activities was -19,290,192.28 CNY, compared to 61,135,143.77 CNY in the previous year, indicating a significant decrease[39] - The net cash flow from financing activities was -185,056,680.29 CNY, worsening from -124,365,386.86 CNY year-over-year[39] - The ending cash and cash equivalents balance was 266,534,827.41 CNY, down from 349,858,676.92 CNY in the previous year[39] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,044,488,774.94, a decrease of 6.19% from the end of the previous year[7] - Total current assets decreased to 834.81 million RMB from 970.29 million RMB year-over-year[21] - The company's cash and cash equivalents were reported at 267.67 million RMB, down from 381.26 million RMB at the end of the previous year[21] - Non-current assets totaled ¥2,209,680,723.23, down from ¥2,275,253,153.91, indicating a decrease of approximately 2.9%[26] - Total liabilities decreased to ¥700,318,330.21 from ¥869,450,533.32, reflecting a reduction of about 19.5%[26] - The company's total liabilities included a significant increase in lease liabilities due to the implementation of new accounting standards[15] - Total liabilities amounted to 869,450,533.32, indicating a rise in financial obligations[47] - The company reported a decrease in long-term employee compensation liabilities from ¥7,013,705.21 to ¥6,335,990.49, a decline of approximately 9.7%[26] Investments and Equity - Long-term equity investments increased by 382.86% due to changes in the equity accounting of a subsidiary[12] - The total equity attributable to shareholders decreased to ¥2,228,928,841.34 from ¥2,260,618,704.58, a decline of approximately 1.4%[26] - Shareholders' equity totaled 2,376,089,387.11, with retained earnings of 525,946,545.72[47] Operational Metrics - Total revenue for the first three quarters of 2021 reached ¥526,640,732.06, an increase from ¥506,074,615.96 in the same period of 2020, representing a growth of approximately 3.1%[26] - Total operating costs decreased to ¥558,259,140.71 from ¥624,403,751.76, showing a reduction of about 10.6%[29] - Operating profit for the period was reported at -¥29,279,525.24, an improvement compared to -¥113,329,140.87 in the previous year[29] - The company reported a significant credit impairment loss of 2,957.56 million RMB, mainly due to an increase in accounts receivable[15] - Accounts receivable increased by 96.10% primarily due to an increase in rental receivables from subsidiaries[12] Accounting Changes - The company adopted the new leasing standards effective January 1, 2021, impacting the recognition of lease liabilities and right-of-use assets[49] - The initial recognition of right-of-use assets was 35,582,825.85, while lease liabilities were recorded at 27,347,120.44[53] - The company expects no significant impact on its financial position or cash flows due to the accounting policy change[52]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥361,115,187.15, representing an increase of 11.43% compared to ¥324,063,217.20 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥19,533,192.33, a significant improvement of 78.87% from -¥92,447,699.38 in the previous year[18]. - The net cash flow from operating activities was ¥49,961,911.55, a remarkable increase of 215.53% compared to -¥43,246,014.36 in the same period last year[18]. - The basic earnings per share for the first half of 2021 was -¥0.0617, an improvement of 78.86% from -¥0.2918 in the same period last year[18]. - The weighted average return on net assets increased by 3.16 percentage points to -0.87% from -4.03% in the previous year[18]. - Operating profit was -1,857,000, an increase of 81.63% year-on-year[40]. - Net profit was -1,771,000, an increase of 82.07% year-on-year[40]. - The net cash flow from operating activities for the first half of 2021 was ¥25,404,052.48, compared to a negative cash flow of ¥21,887,664.53 in the same period of 2020, indicating a significant improvement[124]. - The total comprehensive income for the first half of 2021 was CNY 2,702,847.54, compared to a total comprehensive loss of CNY -43,721,345.38 in the same period of 2020[116]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,135,221,557.13, down 3.40% from ¥3,245,539,920.43 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 0.85% to ¥2,241,508,213.65 from ¥2,260,618,704.58 at the end of the previous year[18]. - The total current assets as of June 30, 2021, amounted to RMB 888,755,357.11, a decrease from RMB 970,286,766.52 at the end of 2020, reflecting a decline of approximately 8.4%[94]. - The total liabilities decreased to CNY 794,843,264.83 from CNY 895,431,875.81, representing a reduction of about 11.2%[106]. - Non-current liabilities decreased from 869,450,533.32 to 779,922,492.17, a decline of about 10.3%[99]. - Current liabilities decreased from 836,919,266.66 to 722,367,772.87, representing a decrease of approximately 13.7%[99]. - The company recognized non-current liabilities due within one year amounting to 8,439,868.81, primarily due to the implementation of Accounting Standards for Leases[50]. - The company’s total liabilities as of June 30, 2021, were not explicitly stated but are critical for assessing financial health[94]. Cash Flow - Total cash inflow from operating activities was ¥418,767,788.57, while cash outflow was ¥393,363,736.09, resulting in a net cash inflow of ¥25,404,052.48[124]. - Cash flow from investing activities showed a net inflow of ¥639,470.12, a decrease from ¥70,475,861.41 in the previous year, reflecting reduced investment activity[126]. - The company raised ¥149,100,000.00 through financing activities, down from ¥190,733,992.49 in the previous year, indicating a decline in new borrowings[126]. - Cash outflow from financing activities totaled ¥244,553,026.38, compared to ¥289,480,228.99 in the same period last year, showing a reduction in cash used for financing[126]. - The net increase in cash and cash equivalents was -¥69,409,503.78, compared to -¥50,158,039.62 in the previous year, indicating a worsening cash position[126]. - The ending balance of cash and cash equivalents was ¥157,240,612.17, down from ¥128,945,782.36 in the previous year, reflecting a decrease in liquidity[126]. Market and Operational Insights - In the first half of 2021, the total retail sales of consumer goods in China reached 2,119.04 billion yuan, a year-on-year increase of 23%[25]. - The online retail sales of physical goods amounted to 502.63 billion yuan, growing by 18.7% year-on-year, accounting for 23.7% of total retail sales[25]. - The retail sales of physical stores increased by 24.4% year-on-year, with supermarkets, convenience stores, and specialty stores showing significant growth rates of 6.2%, 17.4%, and 32.4% respectively[26]. - Domestic tourism in the first half of 2021 saw 1.871 billion trips, a 100.8% increase compared to the previous year, with total tourism revenue reaching 1.63 trillion yuan, up 157.9%[27]. - The average spending per trip for domestic tourism was 872.27 yuan, reflecting a year-on-year increase of 28.5%[27]. - The retail sales of key large retail enterprises increased by 22.5% in the first half of 2021, with jewelry and clothing categories growing by 67.0% and 33.4% respectively[26]. Risks and Challenges - The company faces macroeconomic risks due to complex international political and economic environments, affecting consumer demand recovery[58]. - Industry competition risks are heightened by the rise of e-commerce and community group buying, prompting the company to enhance its operational capabilities[58]. - The ongoing impact of the COVID-19 pandemic continues to affect the tourism sector, limiting international travel and negatively impacting the company's tourism business[59]. - The company has detailed potential risks in the "Management Discussion and Analysis" section of the report[5]. - The company plans to adjust its business strategies in response to macroeconomic trends and potential risks, ensuring stable development[58]. Corporate Governance and Strategy - The company has established a governance structure with 14 functional departments to enhance management efficiency and adapt to group control needs[155]. - The company emphasizes a "people-oriented" approach in talent development, contributing to its competitive strength[32]. - The company has established a strong customer base and advantageous geographical locations for its retail operations[32]. - The company is actively promoting digital transformation and exploring self-operated models for pork and vegetables, leading to growth in sales and gross profit[41]. - The company is focusing on integrating online and offline business operations to enhance operational capabilities[40]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and reflect the company's financial position and operating results accurately[163]. - The company follows specific accounting policies for fixed asset depreciation and revenue recognition, which are detailed in the financial notes[162]. - The company’s financial statements are based on the going concern assumption, indicating its ability to continue operations[159]. - The company consolidates financial statements based on its own and subsidiaries' financial reports, ensuring consistency in accounting policies and periods[174].

Financial Performance - Operating revenue for the period was CNY 193,921,179.22, representing an increase of 8.82% year-on-year[11]. - Net profit attributable to shareholders was a loss of CNY 6,748,858.83, an improvement of 89.36% compared to the previous year's loss[11]. - The total profit for the period was RMB -6,961,733.91, an increase of 89.45% compared to the same period last year, attributed to the gradual recovery of business operations following the effective control of the COVID-19 pandemic[26]. - The net profit for the period was RMB -7,622,658.09, an increase of 88.53% compared to the same period last year, reflecting the recovery of business operations[29]. - Total operating revenue for Q1 2021 was ¥193,921,179.22, an increase of 8.4% compared to ¥178,210,962.27 in Q1 2020[48]. - Net profit for Q1 2021 was -¥7,622,658.09, compared to -¥66,468,185.56 in the same period last year, indicating a substantial reduction in losses[51]. - The company reported a basic and diluted earnings per share of -¥0.0213 for Q1 2021, an improvement from -¥0.2002 in Q1 2020[51]. - The total comprehensive income for Q1 2021 was approximately ¥3.44 million, compared to a total comprehensive loss of ¥27.83 million in Q1 2020[57]. Cash Flow - Net cash flow from operating activities was CNY 36,935,734.69, a significant increase of 221.82% compared to the previous year[11]. - The net cash flow from operating activities for Q1 2021 was ¥30,341,880.39, a significant improvement compared to a net outflow of ¥25,033,414.74 in Q1 2020[62]. - Cash flow from operating activities for Q1 2021 was approximately ¥36.94 million, a turnaround from a negative cash flow of ¥30.32 million in Q1 2020[60]. - Total cash inflow from operating activities was ¥202,891,393.16, down 26.4% from ¥275,629,560.18 in the same period last year[62]. - The company's cash outflow from operating activities was approximately ¥199.87 million in Q1 2021, compared to ¥401.55 million in Q1 2020, showing improved operational efficiency[60]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,169,975,884.89, a decrease of 2.33% compared to the end of the previous year[11]. - The accounts receivable balance at the end of the period was RMB 20,235,702.79, an increase of 87.88% compared to the end of the previous year, mainly due to increased rental income from subsidiaries[24]. - Total liabilities decreased from ¥869,450,533.32 to ¥802,013,707.82, a decline of about 7.75%[38]. - Current liabilities decreased from ¥836,919,266.66 to ¥742,198,488.35, a reduction of about 11.29%[36]. - Non-current liabilities increased from ¥32,531,266.66 to ¥59,815,219.47, an increase of approximately 83.67%[38]. - Total equity decreased from ¥2,376,089,387.11 to ¥2,367,962,177.07, a decrease of approximately 0.51%[38]. - Cash and cash equivalents decreased from ¥227,650,115.95 to ¥159,729,675.38, a decline of about 29.87%[40]. Shareholder Information - The total number of shareholders at the end of the reporting period was 15,785[17]. - The largest shareholder, Beijing State-owned Capital Management Center, held 34.23% of the shares[17]. Cost Management - Financial expenses for the period amounted to RMB 2,600,954.69, a decrease of 37.64% compared to the same period last year, mainly due to reduced interest expenses on loans[24]. - The company is focusing on cost control measures, as evidenced by a significant reduction in sales expenses from ¥72,780,182.90 to ¥52,013,292.98, a decrease of about 28.8%[48]. - The company experienced a significant reduction in financial expenses, with interest expenses decreasing to approximately ¥2.82 million in Q1 2021 from ¥4.86 million in Q1 2020[55]. Government Support - The company received government subsidies totaling CNY 1,114,839.48 related to specific projects[11].

Financial Performance - In 2020, the company reported a net profit attributable to shareholders of -74,399,534.70 CNY, a decrease of 852.26% compared to the previous year's profit of 9,890,111.67 CNY[5]. - The company's operating revenue for 2020 was 704,015,239.15 CNY, representing a decline of 67.35% from 2,156,216,692.83 CNY in 2019[20]. - The basic earnings per share for 2020 was -0.2348 CNY, a decline of 852.56% from 0.0312 CNY in 2019[21]. - The company reported a significant decrease in advertising expenses, down by 148.46 thousand yuan, resulting in a decrease in the advertising expense ratio from 0.62% to 0.32%[75]. - The company reported a net loss for 2020, with total operating costs exceeding total operating revenue, leading to a negative operating margin[184]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to 43,485,517.94 CNY, a turnaround of 164.05% from -67,891,642.11 CNY in 2019[20]. - The company's cash flow from operating activities was ¥889,776,049.41 in 2020, down from ¥1,962,969,791.14 in 2019, reflecting a decline of approximately 54.7%[190]. - The net cash flow from operating activities increased by 164.05% to CNY 43,485,517.94, mainly due to tax payments from the previous year[59]. - The ending balance of cash and cash equivalents was ¥380,117,536.67, slightly down from ¥384,149,147.26[192]. Assets and Liabilities - The company's total assets decreased by 7.30% to 3,245,539,920.43 CNY at the end of 2020, down from 3,501,003,109.08 CNY in 2019[20]. - The company's total liabilities decreased from CNY 1,039,369,186.72 in 2019 to CNY 869,450,533.32 in 2020, a decline of approximately 16.3%[179]. - The company's asset-liability ratio improved to 26.79% in 2020 from 29.69% in 2019, a decrease of 9.77%[157]. - Total equity decreased from CNY 2,461,633,922.36 in 2019 to CNY 2,376,089,387.11 in 2020, a decline of about 3.5%[180]. Revenue and Sales Trends - The company’s revenue was affected by a significant drop in customer traffic due to the pandemic, particularly impacting tourism and hotel operations[22]. - The company’s retail sales in supermarkets increased by 3.1% year-on-year, with department stores and specialty stores showing a narrowing decline compared to previous quarters[37]. - The total retail sales of consumer goods reached CNY 39,198.1 billion, a decline of 3.9% year-on-year, with the decline narrowing by 3.3 percentage points compared to the first three quarters[35]. - The online retail sales in 2020 grew by 10.9% year-on-year, with physical goods online retail sales increasing by 14.8%, accounting for 24.9% of total retail sales[36]. Operational Adjustments and Strategies - The company implemented rent reductions for tenants during the pandemic, which negatively impacted net profit levels[22]. - The company plans not to distribute profits or increase capital reserves for the year 2020 due to the negative net profit[5]. - The company is focusing on digital transformation and enhancing online channels to adapt to changing consumer behaviors[47]. - The company plans to enhance the integration of online and offline channels, focusing on member consumption needs through big data analysis[85]. Market and Economic Context - In 2020, the GDP growth rate was 2.3%, making China the only major economy to achieve positive growth amid the pandemic[43]. - Domestic tourism in 2020 saw a total of 2.879 billion trips, a decrease of 52.1% year-on-year, with tourism revenue dropping to CNY 2.23 trillion, down 61.1%[45]. - The ongoing COVID-19 pandemic has led to significant volatility in business performance, particularly affecting the tourism sector due to restrictions on international travel[89]. Future Outlook - The company aims to achieve a revenue of 847 million yuan and a total profit of 19 million yuan in 2021[85]. - The company anticipates continued growth in online retail and a shift towards online consumption habits post-COVID-19, with a focus on live-streaming sales[64]. - Future outlook includes potential market expansion and investment in new technologies to enhance competitive advantage[184].

Financial Performance - Net profit attributable to shareholders was CNY -105,562,465.30, representing a decline of 1,107.62% year-on-year[17] - Operating revenue for the first nine months was CNY 506,074,615.96, down 66.29% from CNY 1,501,228,387.22 in the same period last year[17] - Basic earnings per share were CNY -0.3332, a decrease of 1,106.65% from CNY 0.0331 in the same period last year[17] - Total profit for the period was RMB -112,344,217.34, a decrease of 518.28% compared to the same period last year, primarily due to the impact of COVID-19 on business operations[19] - The company reported a significant decline in prepayments, with a balance of RMB 14,862,224.83, down 40.64% from the previous year, primarily due to reduced prepayments by subsidiaries[37] - The company anticipates a cumulative net profit loss for the year, significantly impacted by the decline in sales and customer traffic due to COVID-19[48] Revenue and Costs - The company's operating revenue for the current period is RMB 506,074,615.96, a decrease of 66.29% compared to the same period last year, primarily due to the implementation of the new revenue standard and the impact of the COVID-19 pandemic on customer traffic and sales[40] - The operating cost for the current period is RMB 248,354,344.09, a decrease of 76.28% compared to the same period last year, influenced by the new revenue standard and the decline in revenue due to the pandemic[40] - Total operating costs amounted to approximately 1.48 billion, with operating costs at around 1.05 billion[71] Cash Flow - The net cash flow from operating activities increased significantly to CNY 28,939,772.75, a rise of 773.30% compared to CNY 3,313,844.68 in the previous year[17] - Operating cash flow for the period was RMB 28,939,772.75, an increase of 773.30% compared to the same period last year, mainly due to tax payments from the previous period[24] - Cash inflow from operating activities for the first three quarters of 2020 was ¥1,022,214,366.46, down from ¥1,645,721,371.32 in the same period of 2019[84] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,254,563,098.57, a decrease of 7.04% compared to the end of the previous year[17] - The total liabilities as of September 30, 2020, were RMB 878,661,605.64, a slight decrease from RMB 906,558,924.21 at the end of the previous year[56] - The total assets as of September 30, 2020, were RMB 3,254,563,098.57, a decrease from RMB 3,501,003,109.08 at the end of the previous year[56] - Shareholders' equity decreased from CNY 2,230,415,185.81 at the end of 2019 to CNY 2,176,343,581.43 by September 30, 2020, representing a decline of approximately 2.4%[65] Government Support - The company received government subsidies totaling CNY 6,257,317.72 for the year-to-date, including various support measures related to the pandemic[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,970, with the largest shareholder holding 34.23% of the shares[24] Other Income and Expenses - Other income for the current period is RMB 6,278,404.03, an increase of 85.32% compared to the same period last year, mainly due to rental subsidies received during the pandemic[41] - The company reported a loss from non-operating income of CNY 3,964,331.89 for the first nine months[21] - Other expenses for the period were RMB 313,174.15, a decrease of 71.97% compared to the same period last year, due to fines and penalties paid by a subsidiary in the previous year[18]

Financial Performance - Net profit attributable to shareholders was CNY -105,562,465.30, representing a decline of 1,107.62% year-on-year[8]. - Operating revenue for the period was CNY 506,074,615.96, down 66.29% from CNY 1,501,228,387.22 in the same period last year[8]. - The company's net profit for the current period is RMB -110,962,584.26, a decrease of 885.66% compared to the same period last year, significantly affected by the COVID-19 pandemic[35]. - The total profit for the current period is RMB -112,344,217.34, a decrease of 518.28% compared to the same period last year, reflecting the adverse effects of the pandemic on the company's operations[35]. - The net profit attributable to minority shareholders for the current period is RMB -5,400,118.96, a decrease of 248.07% compared to the same period last year, also affected by the COVID-19 pandemic[36]. Revenue and Costs - The company's operating revenue for the current period is RMB 506,074,615.96, a decrease of 66.29% compared to the same period last year, primarily due to the implementation of the new revenue standard and the impact of COVID-19 on business operations[30]. - The operating cost for the current period is RMB 248,354,344.09, a decrease of 76.28% compared to the same period last year, influenced by the new revenue standard and reduced revenue due to the pandemic[31]. Cash Flow - Net cash flow from operating activities increased significantly to CNY 28,939,772.75, a rise of 773.30% compared to CNY 3,313,844.68 in the previous year[8]. - The net cash flow from investing activities for the current period is RMB 61,135,143.77, an increase of 219.82% compared to the same period last year, primarily due to the recovery of housing deposit payments and reduced payments for completed projects[36]. - The net cash flow from financing activities for the current period is RMB -124,365,386.86, a decrease of 89.61% compared to the same period last year, mainly due to reduced borrowings and previous investments from minority shareholders[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 15,970[13]. - The largest shareholder, Beijing State-owned Capital Management Center, held 34.23% of the shares[16]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,254,563,098.57, a decrease of 7.04% compared to the end of the previous year[8]. - Accounts receivable at the end of the period is RMB 16,996,935.51, a decrease of 30.33% compared to the end of last year, mainly due to the recovery of property fees and rents[26]. - Contract liabilities at the end of the period amount to RMB 140,726,054.72, a new item resulting from the implementation of the new revenue standard[30]. - The company has reclassified prepayments to contract liabilities amounting to RMB 145,980,596.69 due to the new revenue standard[26]. - Other receivables at the end of the period are RMB 9,160,284.99, a decrease of 89.96% compared to the end of last year, primarily due to the recovery of housing deposit payments[27]. - Deferred income at the end of the period is RMB 12,023,489.73, a decrease of 69.94% compared to the end of last year, influenced by changes in the recognition of customer reward points[30]. Earnings Per Share - Basic earnings per share were CNY -0.3332, a decrease of 1,106.65% compared to CNY 0.0331 in the same period last year[8]. - The weighted average return on equity was -4.61%, a decrease of 5.06 percentage points from 0.45% in the previous year[8]. Non-Operating Income - Non-operating income for the period amounted to CNY 3,964,331.89, compared to CNY 4,988,884.75 in the previous year[12]. - The company has seen a significant increase in other income, which is RMB 6,278,404.03, an increase of 85.32% compared to the same period last year, due to various subsidies received during the pandemic[31]. Future Outlook - The company warns that the cumulative net profit from the beginning of the year to the next reporting period may be a loss or show significant changes compared to the same period last year, primarily due to a sharp decline in customer traffic and sales in the trade industry caused by the COVID-19 pandemic[40].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 324,063,217.20, a decrease of 67.99% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was a loss of CNY 92,447,699.38, a decline of 702.66% year-on-year[23]. - The basic earnings per share for the first half of 2020 was -CNY 0.2918, a decrease of 702.89% year-on-year[23]. - The diluted earnings per share also stood at -CNY 0.2918, reflecting the same decline[23]. - The total profit amounted to -10,064 million, down 477.60% year-on-year[48]. - The company reported a net loss of ¥98,770,315.82 for the current period, compared to a net profit of ¥16,049,786.85 in the same period last year, representing a significant decline[131]. - The comprehensive income totalled ¥-98,770,315.82, compared to ¥16,049,786.85 in the same period last year, highlighting a drastic reduction in overall financial performance[139]. Cash Flow - The net cash flow from operating activities was a negative CNY 43,246,014.36, showing an improvement of 8.57% compared to the previous year[23]. - The net cash flow from investing activities increased by 214.57% year-on-year to RMB 68,861,828.41, mainly due to the recovery of deposit payments and reduced project payments[53]. - The net cash flow from financing activities decreased by RMB 109,868,133.89, a decline of 154.94% year-on-year, primarily due to loan repayments[53]. - The net cash flow from operating activities for the first half of 2020 was -43,246,014.36 RMB, compared to -47,301,589.19 RMB in the same period of 2019, showing a slight improvement[143]. - Cash outflow from operating activities was 681,663,244.86 RMB, a decrease of 42.7% compared to 1,190,281,561.31 RMB in the previous year[143]. Assets and Liabilities - The total assets decreased by 7.28% to CNY 3,246,269,811.72 compared to the end of the previous year[23]. - The total liabilities decreased to 883,406,205.18 RMB from 1,039,369,186.72 RMB[120]. - The company's total current assets as of June 30, 2020, were RMB 749,806,439.94, down from RMB 863,652,690.69 at the end of 2019, reflecting a reduction of approximately 13.1%[126]. - Total liabilities as of June 30, 2020, were RMB 837,912,903.03, down from RMB 951,430,072.10 at the end of 2019, indicating a decrease of about 11.9%[128]. Revenue Recognition and Accounting Changes - The company implemented the new revenue recognition standard starting January 1, 2020, which affected the revenue recognition method for certain business operations[80]. - The company's revenue for the first half of 2020 under the old standard was ¥574,322,754.83, reflecting a decrease of 43.27% compared to the previous year[82]. - The company’s revenue recognition method changed from the gross method to the net method, impacting how income is reported[83]. - The implementation of the new revenue standard is not expected to have a significant impact on the company's net profit, total assets, or net assets[84]. Market and Operational Environment - The overall consumer market is showing signs of recovery, with improved sales dynamics as pandemic control measures are effectively implemented[34]. - The competitive landscape in the retail sector is intensifying, with traditional retail facing challenges from online retail growth and large internet companies expanding into physical retail[65]. - The company is focusing on optimizing its operational environment and exploring innovative marketing activities to adapt to market challenges[47]. - The tourism sector continues to be impacted by the pandemic, affecting both inbound and outbound travel, which poses risks to the company's tourism-related business[68]. Shareholder and Capital Structure - The largest shareholder, Beijing State-owned Capital Management Center, holds 108,452,397 shares, representing 34.23% of total shares[93]. - The company plans to enhance its capital structure by converting capital reserves into share capital, which could improve shareholder value[167]. - The total owner's equity at the end of the reporting period is 2,221,408,417.68, with a capital reserve of 800,586,996.02 and an undistributed profit of 482,122,577.36[176]. Risk and Compliance - The report includes a risk statement regarding forward-looking statements, cautioning investors about potential risks[7]. - The company has not disclosed any major litigation or arbitration matters during the reporting period, indicating a stable legal standing[73]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and transparency[189].

Financial Performance - Net profit attributable to shareholders was CNY -63,415,432.06, representing a decline of 594.77% year-on-year[11] - Operating revenue for the period was CNY 178,210,962.27, down 67.90% from CNY 555,123,760.25 in the same period last year[11] - Basic earnings per share were CNY -0.2002, a decline of 594.32% from CNY 0.0405 in the same period last year[11] - The company reported a non-recurring loss of CNY -2,886,954.53 for the period[14] - The net profit for Q1 2020 was RMB -66,468,185.56, a decrease of 77,927,348.88 compared to the previous year, largely due to the impact of the pandemic[27] - The total profit for Q1 2020 was RMB -66,003,843.05, a decrease of 82,332,505.87 year-on-year, influenced by the pandemic and related control measures[27] - The company experienced a substantial decline in operating profit, reporting a loss of ¥65,208,285.57 compared to a profit of ¥16,220,212.37 in the previous year[52] Cash Flow - Net cash flow from operating activities was CNY -30,319,795.39, a decrease of 203.93% compared to CNY 29,174,293.81 in the previous year[11] - The net cash flow from operating activities was RMB -30,319,795.39, a decline of 203.93% year-on-year, attributed to reduced sales revenue during the pandemic[27] - The cash flow from operating activities for Q1 2020 was a net outflow of ¥30,319,795.39, contrasting with a net inflow of ¥29,174,293.81 in Q1 2019[63] - The company’s cash flow from operating activities showed a positive trend, with a net cash flow improvement of 62% year-over-year[65] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,458,578,130.41, a decrease of 1.21% compared to the end of the previous year[11] - Current liabilities increased from ¥906,558,924.21 to ¥926,675,483.48, an increase of about 2.4%[40] - Non-current liabilities rose from ¥132,810,262.51 to ¥136,736,910.13, reflecting a growth of approximately 3.2%[42] - Total liabilities increased from ¥1,039,369,186.72 to ¥1,063,412,393.61, marking an increase of about 2.3%[42] - Total equity attributable to shareholders decreased from ¥2,341,354,338.26 to ¥2,277,938,906.20, a decline of about 2.7%[42] - The total liabilities as of the end of Q1 2020 were ¥1,093,342,516.95, unchanged from the previous year[69] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,130[16] - The top ten shareholders held a total of 119,000,000 shares, with the largest shareholder being Beijing State-owned Capital Management Center, holding 108,452,397 shares[16] Revenue Recognition Changes - The implementation of the new revenue standard resulted in a significant change in revenue recognition, shifting from the gross method to the net method, impacting the reported figures[21] - Operating costs for Q1 2020 were RMB 102,718,162.53, down 73.92% from RMB 393,790,496.18 year-on-year, primarily due to the new revenue standard and reduced sales from the COVID-19 pandemic[26] Government Support - The company received government subsidies totaling CNY 307,976.81 related to the residential commercial boiler room coal-to-gas project[11] Other Financial Metrics - The weighted average return on equity decreased by 3.29 percentage points to -2.75%[11] - Other receivables at the end of the period were RMB 9,830,717.38, a decrease of 89.22% from the previous year, mainly due to the recovery of housing deposit payments[25] - Other non-current financial assets decreased by 34.74% to RMB 5,896,802.80, primarily due to a decline in fair value[25] - Cash and cash equivalents increased significantly from ¥179,103,821.98 to ¥265,156,471.50, a rise of approximately 48.2%[44] - Deferred income increased from ¥39,993,692.11 to ¥43,216,885.99, an increase of approximately 5.6%[42]

Financial Performance - In 2019, the company's operating revenue reached CNY 2,156,216,692.83, an increase of 12.33% compared to CNY 1,919,455,426.16 in 2018[23] - The net profit attributable to shareholders of the listed company was CNY 9,890,111.67, a decrease of 75.54% from CNY 40,440,724.34 in the previous year[23] - The net cash flow from operating activities was negative CNY 67,891,642.11, a decline of 277.79% compared to CNY 38,187,082.35 in 2018[23] - The total assets at the end of 2019 were CNY 3,501,003,109.08, down 6.47% from CNY 3,743,200,929.29 at the end of 2018[23] - The basic earnings per share for 2019 was CNY 0.0312, a decrease of 75.57% from CNY 0.1277 in 2018[23] - The weighted average return on net assets was 0.42%, a decrease of 1.3 percentage points from 1.72% in 2018[23] - The company reported a net profit of negative CNY 75,079,058.53 after deducting non-recurring gains and losses, a significant decline of 438.80% from CNY 22,160,124.83 in 2018[23] - Operating profit decreased to RMB 37,729,300, a decline of 33.54% compared to the previous year[53] - Net profit fell to RMB 13,481,700, representing a significant decrease of 69.71% year-on-year[53] Cash Flow and Investments - The company reported a net cash flow from operating activities of -RMB 67,891,642.11, a decrease of 277.79% from the previous year[53] - Net cash flow from investing activities increased by 395.77% to ¥127,034,592.83, primarily due to the disposal of real estate by the parent company[62] - Net cash flow from financing activities decreased by 135.77% to -¥125,208,812.53, mainly due to the repayment of short-term loans[62] - Other receivables surged by 348.98% to ¥91,234,705.01, mainly due to the sale of real estate and pending repayments[62] Market and Business Operations - The main business focus includes commercial and tourism services, with retail operations primarily through joint ventures and leasing models[34] - The company operates major retail formats such as the Urban Huamao Shopping Center and Urban Century Plaza, targeting family-oriented shopping experiences[34] - In 2019, the retail market in China exceeded 40 trillion RMB, with a nominal growth of 8.0% compared to the previous year, indicating a stable growth trend in consumer spending[36] - The retail sales of food products in 2019 increased by 9.7%, while the retail sales of cosmetics, cultural office supplies, and communication equipment grew by 12.6%, 3.3%, and 8.5% respectively[37] - The company has a stable membership base of over 700,000, which supports its business development[40] - The company is focusing on upgrading its convenience store model and enhancing its shopping center operations to adapt to market changes[46] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.2 per 10 shares, totaling CNY 6,336,098.98 to shareholders[6] - The company distributed a cash dividend of CNY 0.5 per 10 shares for the 2018 fiscal year, totaling CNY 15,840,247.45, based on a total share capital of 316,804,949 shares[91] - In 2019, the company paid a cash dividend of CNY 0.2 per 10 shares, amounting to CNY 6,336,098.98, which represents 64.06% of the net profit attributable to ordinary shareholders[92] Management and Governance - The company has undergone internal restructuring, merging subsidiaries without significant impact on operations[75] - The management team has extensive experience in various sectors, including finance, tourism, and retail, which is expected to drive future growth[134] - The company has established a comprehensive governance structure to ensure clear responsibilities among its power, decision-making, supervisory, and management bodies[151] - The company maintains independence from its controlling shareholder in personnel, assets, finance, and operations, ensuring independent decision-making[152] Economic and Market Trends - In 2019, China's GDP reached 99 trillion yuan, growing by 6.1% compared to the previous year, aligning with the expected target of 6%-6.5%[79] - The total retail sales of consumer goods in China for 2019 amounted to 41.1 trillion yuan, reflecting an 8.0% increase year-on-year[79] - The online retail sales in China reached 1,063.24 billion yuan, with a year-on-year growth of 16.5%, while physical goods online retail sales grew by 19.5% to 852.39 billion yuan[79] Risk and Compliance - The company is evaluating the appropriateness of the going concern assumption based on audit evidence, indicating potential uncertainties regarding its ability to continue operations[185] - The company has not reported any significant litigation or arbitration matters during the reporting period[111] - The independent directors have not raised any objections regarding company matters during the reporting period[157] Employee and Social Responsibility - The total number of employees in the parent company and major subsidiaries is 1,626, with 358 in the parent company and 1,268 in subsidiaries[144] - The company emphasizes a fair and just salary distribution system, aligning responsibility with benefits and capability with value[145] - The company has actively engaged in social responsibility initiatives, including support for public welfare and consumer rights protection[118]

2019 年第三季度报告 公司代码：600861 公司简称：北京城乡 北京城乡商业（集团）股份有限公司 2019 年第三季度报告 1 / 23 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 23 2019 年第三季度报告 单位：元 币种：人民币 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 公司负责人王禄征、主管会计工作负责人相东明及会计机构负责人（会计主管人员）王彦清 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 | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|---------------------------------- ...