2019 年半年度报告 公司代码：601588 公司简称：北辰实业 北京北辰实业股份有限公司 2019 年半年度报告 1 / 131 2019 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、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。 二、 未出席董事情况 | --- | --- | --- | --- | |----------------|----------------|----------------------|--------------| | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | 董事长 | 贺江川 | 因公请假 | 李伟东 | | 董事 | 李云 | 因公请假 | 郭川 | 三、 本半年度报告未经审计。 四、 公司负责人贺江川、主管会计工作负责人崔薇及会计机构负责人（会计主管人员）高小杰声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 本报告期内无半年度利润分配或公积金转增股本预案。 六、 ...

Financial Performance - For the year ended December 31, 2018, the company achieved a revenue of RMB 17,859.79 million, representing a year-on-year increase of 16.71%[14] - The profit before tax for the same period was RMB 3,860.02 million, up 29.55% compared to the previous year[6] - The net profit attributable to ordinary shareholders was RMB 1,403.43 million, reflecting a slight increase of 0.98% year-on-year[14] - The earnings per share for the year was RMB 0.42[14] - In 2018, the company's operating revenue and profit achieved historic breakthroughs, driven by strategies of low-cost expansion, brand expansion, and capital expansion[15] - The company achieved operating revenue of RMB 1,785,979.0 million, a year-on-year increase of 16.71%[26] - The pre-tax profit reached RMB 386,001.8 million, reflecting a year-on-year growth of 29.55%[26] - The revenue from development properties amounted to RMB 1,513,349.8 million, up 20.18% year-on-year[27] - The pre-tax profit from development properties was RMB 269,794.7 million, marking a significant increase of 50.42% year-on-year[27] - The total contracted sales amount for the year was RMB 282 billion, with notable projects achieving high sales figures[28] - The company reported a significant increase in cash and cash equivalents, which rose to RMB 11,851,788 thousand in 2018 from RMB 9,846,708 thousand in 2017, a growth of about 20.3%[192] - The company’s retained earnings increased to RMB 11,747,590 thousand in 2018, up from RMB 10,590,512 thousand in 2017, representing a growth of approximately 10.9%[193] - Total revenue for the year ended December 31, 2018, was RMB 17,859,790 thousand, an increase from RMB 15,303,224 thousand in 2017, representing a growth of approximately 16.7%[195] - Gross profit for 2018 was RMB 5,483,904 thousand, compared to RMB 4,633,365 thousand in 2017, reflecting a gross margin improvement[195] Assets and Liabilities - The total assets of the company as of December 31, 2018, amounted to RMB 99,910.67 million, an increase from RMB 87,701.65 million in 2017[7] - The total liabilities increased to RMB 77,054.48 million in 2018 from RMB 68,548.41 million in 2017[7] - The company’s total current assets were RMB 82,976.77 million, while current liabilities were RMB 50,112.77 million[167] - The company’s long-term borrowings decreased to RMB 19,768,944 thousand in 2018 from RMB 25,889,695 thousand in 2017, a decline of about 23.6%[192] - The company’s total equity increased to RMB 22,856,185 thousand in 2018, compared to RMB 19,153,235 thousand in 2017, reflecting a growth of approximately 19.5%[193] Market Position and Strategy - The company has 45 ongoing and for-sale projects across 14 key cities in China, enhancing its market share and development scale[3] - The company aims to strengthen its core business in property development while expanding into new markets and enhancing resource integration[5] - The company plans to accelerate strategic expansion in 2019, focusing on integrating property development with exhibition, health care, and cultural creativity sectors[18] - The company aims to enhance its brand image and market position through the establishment of three sub-brands in the exhibition industry, focusing on high-end government services, venue management, and industry research[15] - The company is committed to creating property value and establishing a leading composite real estate brand in the country[19] - The company is focusing on the integration of real estate with health care, cultural creativity, and other sectors to create a diversified development model[61] Governance and Management - The board of directors consists of nine members, including the chairman, five executive directors, and three independent non-executive directors, ensuring strong governance and oversight[71] - The company is committed to maintaining high standards of corporate governance and transparency towards shareholders[70] - The company has adopted good governance practices and procedures to maintain effective communication with shareholders[75] - The company emphasizes board diversity, considering factors such as gender, age, culture, and professional experience in its nomination policy[84] - The company has established a system for managing insider information to ensure compliance with disclosure obligations[96] - The company’s internal audit department is responsible for regular audits and reports to the Board of Directors[93] Sustainability and Social Responsibility - The company reduced nitrogen oxide and sulfur dioxide emissions by 10% and 59% respectively compared to the previous year, promoting green development[55] - The company is committed to social responsibility, having donated to the Spring Sprout Foundation for six consecutive years to support underprivileged children[55] - The management team emphasized a commitment to sustainability, with plans to reduce carbon emissions by 40% by 2025[104] Future Outlook - The company plans to enhance its financing channels through asset securitization and perpetual medium-term notes to manage debt levels effectively[62] - The company aims to sell 1.6 million square meters in 2019, with a signed contract amount (including parking spaces) of RMB 25.3 billion[63] - In 2019, the company plans to achieve a new construction area of 1.96 million square meters, a resumption area of 8.88 million square meters, and a completion area of 2.46 million square meters[63] - The company will invest RMB 200 million in fixed assets in 2019, with funding sourced from self-owned capital[62]

2019 年第一季度报告 公司代码：601588 公司简称：北辰实业 北京北辰实业股份有限公司 2019 年第一季度报告 1 / 22 | --- | --- | --- | |-------|---------------------|-------| | | 2019 年第一季度报告 | | | | 日 录 | | | | 一、 重要提示 | | | । Í | 公司基本情况 . | | | | 三、 重要事项 | | | 四、 | 附录 . | | 2 / 22 2019 年第一季度报告 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 公司负责人贺江川、主管会计工作负责人崔薇及会计机构负责人（会计主管人员）高小杰保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 3 / 22 2019 年第一季度报告 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | ...

Financial Performance - The company achieved operating revenue of RMB 1,786,416.3 million, an increase of 15.58% year-on-year[3]. - Total profit reached RMB 280,031.9 million, up 55.10% year-on-year, while net profit attributable to the parent company was RMB 118,951.2 million, a 4.31% increase[3]. - Earnings per share were RMB 0.35[3]. - The company's operating revenue for 2018 was CNY 17,864,162,781, representing a 15.58% increase compared to CNY 15,456,514,443 in 2017[29]. - The net profit attributable to shareholders of the listed company for 2018 was CNY 1,189,511,662, a 4.31% increase from CNY 1,140,410,658 in 2017[29]. - The net cash flow from operating activities for 2018 was CNY 2,532,908,272, a significant recovery from a negative cash flow of CNY -1,628,276,493 in 2017[29]. - The company's liquid assets increased by 26.27% year-on-year, indicating improved liquidity[41]. - The company achieved record-high revenue and profit levels during the reporting period, driven by an increase in billable projects and a higher proportion of high-priced products[52]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.12 per share, totaling RMB 404,042,400, subject to shareholder approval[10]. - The cash dividend for 2018 was RMB 404.04 million, representing 34.17% of the net profit attributable to shareholders of the parent company[118]. - The company has committed to maintaining a cash dividend policy of at least 10% of the distributable profit each year[117]. Strategic Development and Expansion - The company aims to maintain its strategies of low-cost expansion, brand expansion, and capital expansion to drive high-quality development[3]. - The company plans to continue expanding its market presence and developing new products and technologies to enhance growth prospects[22]. - The company is focusing on strategic acquisitions to strengthen its competitive position in the real estate market[22]. - The company aims to leverage its existing assets and explore new business opportunities to drive sustainable growth[22]. - The company is focusing on expanding its property development and management services across multiple regions, with 45 ongoing and for-sale projects[40]. - The company has entered 14 cities, including Beijing, Changsha, Wuhan, and Chengdu, establishing a foundation for nationwide scale development[45]. Risk Management - The company faces risks related to policy changes in the real estate sector, market competition, and potential talent shortages due to rapid expansion[14]. - The company emphasizes the importance of project turnover speed and land reserve expansion to mitigate market risks[14]. - The company will focus on cities with mature markets and favorable investment environments to mitigate market risks[111]. Operational Efficiency and Innovation - Future guidance indicates a commitment to improving operational efficiency and increasing profitability through innovative strategies[22]. - The company plans to enhance its operational service capabilities and innovate business development models to cultivate new growth points[110]. - Operational efficiency initiatives are projected to reduce costs by 8%, contributing to improved profit margins[183]. Environmental and Social Responsibility - The company has been recognized as a leading brand in composite real estate for 12 consecutive years since 2007[44]. - The company reported a total reduction in nitrogen oxides and sulfur dioxide emissions by 10% and 59% respectively compared to the previous year[62]. - The company has actively engaged in social responsibility initiatives, including donations to the Spring Seed Foundation for underprivileged children[62]. - The company is actively involved in employment assistance by prioritizing local low-income individuals for job opportunities[152]. - The company has committed to a "one enterprise, one village" support plan to further assist Baihutou Village's development[152]. Financial Position and Assets - Total assets at the end of 2018 reached CNY 91,894,399,862, reflecting a 14.90% increase from CNY 79,980,021,253 at the end of 2017[29]. - The company's total assets at the end of the reporting period amounted to 91.894 billion yuan, an increase of 14.90% compared to the same period last year[82]. - Total liabilities reached 75.050 billion yuan, reflecting a year-on-year increase of 12.66%[85]. - The company reported a significant increase in contract liabilities, totaling 28.445 billion yuan, primarily due to pre-received housing payments[82]. Corporate Governance and Compliance - The company has adopted new accounting standards for the preparation of its 2018 financial statements, including the revised revenue recognition standards[125]. - The domestic accounting firm, PwC Zhongtian, has been retained for 15 years with an audit fee of 253 million[126]. - There are no significant lawsuits or arbitration matters reported for the year[129]. - The company has not faced any risks of suspension or termination of its listing[128]. Employee and Management Information - The total number of employees in the parent company is 3,610, with a combined total of 5,167 employees across the parent and major subsidiaries[196]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period is detailed in the relevant sections of the report[189]. - The remuneration for directors and senior management is determined based on their positions, responsibilities, and the company's annual operational plans and assessments[198].

Financial Performance - Net profit attributable to shareholders increased by 41.80% year-on-year, amounting to CNY 1.18 billion[7] - Operating revenue for the first nine months rose by 6.64% year-on-year, totaling CNY 10.78 billion[7] - Basic earnings per share rose by 40.00% to CNY 0.35[7] - Total operating revenue for Q3 reached ¥5,305,853,751, a significant increase from ¥2,252,126,835 in the same period last year, representing a growth of 135.5%[32] - Operating profit for Q3 was ¥1,046,188,516, compared to ¥334,601,067 in the previous year, reflecting a growth of 213.5%[33] - Net profit for Q3 was ¥774,625,198, an increase from ¥228,864,813, which is a growth of 238.5%[34] - Total comprehensive income for the period reached CNY 648,473,731, an increase from CNY 493,605,671 in the previous year[37] Cash Flow - Net cash flow from operating activities surged by 462.88% year-on-year, reaching CNY 3.07 billion[7] - Cash inflow from operating activities totaled CNY 20,885,407,240, compared to CNY 15,290,834,105 in the same period last year, marking a growth of approximately 36%[40] - Cash outflow for operating activities was CNY 17,812,154,800, an increase from CNY 14,744,844,005, resulting in a net cash flow from operations of CNY 3,073,252,440[40] - Investment activities generated a net cash flow of CNY 1,002,824,013, recovering from a negative cash flow of CNY -2,439,987,818 in the previous year[41] - The company reported a net cash outflow from financing activities of CNY -837,231,966, compared to a net inflow of CNY 5,976,310,971 in the previous year[41] Assets and Liabilities - Total assets increased by 13.06% year-on-year, reaching CNY 90.43 billion at the end of the reporting period[7] - Total liabilities rose to CNY 75.54 billion, up from CNY 66.62 billion, indicating an increase of about 13.8%[23] - Current liabilities totaled CNY 47.23 billion, compared to CNY 39.01 billion, reflecting a growth of approximately 21.5%[22] - The company's equity attributable to shareholders rose to CNY 13.61 billion from CNY 12.60 billion, an increase of about 8.0%[23] - The total liabilities to equity ratio stands at approximately 5.08, indicating a high leverage position[23] Shareholder Information - The total number of shareholders reached 160,573 at the end of the reporting period[10] - The largest shareholder, Beijing Beichen Group, holds 34.48% of the shares[10] Inventory and Land Reserves - The company's inventory increased by 12.95% to CNY 59.36 billion, attributed to higher project development costs[17] - The total land reserve reached 7.95 million square meters, with equity land reserve at 6.94 million square meters, and new real estate reserves added 655,900 square meters[14] Investment Income - Investment income skyrocketed by 1638.90% to CNY 97.20 million, mainly due to profits from joint ventures[18] - Non-operating income for the first nine months totaled CNY 15.96 million[9] - The company reported a government subsidy income of CNY 4.55 million during the reporting period[9] Future Plans - The company plans to continue expanding its market presence and investing in new technologies, although specific figures and strategies were not detailed in the provided content[37]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 5,470,243,566, a decrease of 30.34% compared to CNY 7,852,746,675 in the same period last year [24]. - The net profit attributable to shareholders of the listed company was CNY 637,773,468, representing a year-on-year increase of 2.36% from CNY 623,069,190 [24]. - The net cash flow from operating activities was negative at CNY -124,341,734, a significant decline of 112.98% compared to CNY 957,930,063 in the previous year [24]. - The total profit amounted to RMB 112,384.2 million, reflecting a year-on-year increase of 24.13% [46]. - The company reported a net profit of CNY 2.09 billion for the first half of 2018, compared to CNY 2.16 billion in the same period last year, indicating a decrease of about 3.0% [157]. - The total operating revenue decreased to ¥5,470,243,566 from ¥7,852,746,675, representing a decline of approximately 30.5% year-over-year [161]. - The total profit of ¥1,123,842,230, up from ¥905,346,445, indicating a growth of about 24% year-over-year [161]. Assets and Liabilities - The total assets of the company increased by 8.51% to CNY 86,788,247,805 from CNY 79,980,021,253 at the end of the previous year [24]. - Total liabilities amounted to 72.696 billion RMB, reflecting a growth of 9.12% year-over-year [65]. - The company's cash and cash equivalents represented 12.39% of total assets, a decrease of 1.23 percentage points from the previous year [64]. - The total liabilities increased to CNY 72.70 billion from CNY 66.62 billion, marking a growth of around 9.2% [151]. - Owner's equity rose to CNY 14.09 billion from CNY 13.36 billion, an increase of about 5.5% [152]. Development Projects - The company has 29 ongoing and planned development projects across 14 key cities in China, enhancing its market share and development scale [33]. - The company entered 14 cities for real estate development, including Beijing, Wuhan, and Chengdu, establishing a foundation for nationwide scale development [36]. - The company has a cumulative area of 15,443,000 square meters under development across various projects [69]. - The company expanded its land reserves to 8.4506 million square meters across 14 cities, focusing on first and second-tier cities [48]. Market Strategy - The company aims to strengthen professional management and shorten development cycles to improve cash recovery rates [7]. - The company will focus on mature markets with favorable investment environments to reduce operational risks [7]. - The company plans to adopt low-cost expansion strategies and explore new land acquisition methods [7]. - The company emphasizes the importance of monitoring market trends to enhance its competitive edge [7]. - The company will continue to focus on rapid development in real estate and stable operations in exhibitions to enhance its brand influence [81]. Risk Management - The company acknowledges the impact of high land costs and regulatory policies on profit margins [7]. - The company is facing risks related to property development policies, which are closely tied to national economic conditions and policy directions, potentially impacting land acquisition and project financing [87]. - Market risks include rising land prices and development costs, which could lead to cash flow crises and compress profit margins for the company [88]. - The company emphasizes the importance of risk management in its rapid business development to mitigate uncertainties from policy changes [87]. Talent Management - The company is facing a short-term risk of talent shortage due to rapid expansion in real estate and exhibition management projects [8]. - The company will conduct various training programs to accelerate talent cultivation and optimize personnel structure [8]. - There is a short-term risk of talent shortages due to the rapid expansion of real estate and exhibition management projects, necessitating enhanced talent training programs [90]. Environmental and Social Responsibility - The company has complied with various environmental laws and regulations, with all pollution discharge permits passing re-inspection as of June 30, 2018 [109]. - The company actively participates in environmental protection initiatives, achieving a Level 2 certification in the IHG Green Engage program [109]. - The company is actively engaged in targeted poverty alleviation efforts in Baihutou Village, focusing on enhancing local economic capabilities [107]. Corporate Governance - The company has not reported any non-operational fund occupation by controlling shareholders [6]. - The company has confirmed that there were no major changes in the audit firm or any non-standard audit reports issued [95]. - The company has not disclosed any significant accounting errors that require retrospective restatement during the reporting period [111]. - The financial statements were approved by the board of directors on August 23, 2018, ensuring compliance with accounting standards [192].

Financial Performance - Net profit attributable to shareholders was CNY 180,163,696, down 39.61% year-on-year[6]. - Operating revenue for the period was CNY 1,727,735,392, representing a decline of 43.09% compared to the same period last year[6]. - The net cash flow from operating activities was negative CNY 411,897,287, a decrease of 420.26% year-on-year[6]. - Basic and diluted earnings per share were both CNY 0.05, down 44.44% from CNY 0.09 in the previous year[6]. - Total operating revenue decreased to ¥1,727,735,392 from ¥3,036,147,634, representing a decline of approximately 43% year-over-year[28]. - Net profit for the period was ¥179,230,193, down from ¥297,282,296, reflecting a decline of approximately 40% year-over-year[28]. - Basic and diluted earnings per share decreased to ¥0.05 from ¥0.09, a reduction of about 44% year-over-year[29]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 79,975,489,243, a decrease of 0.01% compared to the end of the previous year[6]. - The company’s total assets as of March 31, 2018, were approximately 70.05 billion yuan, compared to 69.91 billion yuan at the beginning of the year[18]. - Total liabilities reached CNY 65,976,511,822, compared to CNY 66,618,008,987 previously[20]. - Current liabilities totaled CNY 38,587,287,648, a decrease from CNY 39,009,601,061[20]. - Non-current liabilities were reported at CNY 27,389,224,174, down from CNY 27,608,407,926[20]. - The company’s total liabilities increased by 60.12% due to an increase in payables to related parties and minority shareholders[14]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥411,897,287 compared to a net inflow of ¥128,615,029 in the previous period[34]. - Cash inflow from operating activities totaled 593,335,801 RMB, down from 1,366,471,862 RMB in the previous year[37]. - The company reported a net decrease in cash and cash equivalents of -2,710,794,405 RMB for the quarter[38]. - Cash inflow from investment activities increased to ¥484,228,376 from ¥81,238,904, indicating a significant rise in investment recovery[34]. - Total cash outflow from investment activities was 1,867,930,041 RMB, significantly higher than 4,421,961,758 RMB in the previous year[37]. - Net cash flow from financing activities was negative at -626,623,635 RMB, contrasting with a positive 1,883,720,608 RMB in the prior year[38]. Shareholder Information - The total number of shareholders at the end of the reporting period was 165,357[9]. - The largest shareholder, Beijing Beichen Group Co., Ltd., held 1,161,000,031 shares, accounting for 34.482% of total shares[9]. - The second largest shareholder, HKSCC Nominees Limited, held 686,544,499 shares, representing 20.390%[9]. Operational Metrics - In Q1 2018, the company achieved a new land reserve of 218,600 square meters, a year-on-year decrease of 17.48%[11]. - The company reported a signed area of 363,800 square meters and a signed amount of 5.624 billion yuan, representing year-on-year increases of 35.80% and 10.02% respectively[11]. - The total operating income from the conference center segment was 133.47 million yuan, while the office segment generated 175.20 million yuan in revenue[12].

Financial Performance - The company achieved a revenue of RMB 15,456.514 million, representing a year-on-year increase of 57.24%[4] - Total profit and net profit attributable to the parent company were RMB 1,805.49 million and RMB 1,140.411 million, reflecting increases of 163.57% and 89.88% year-on-year, respectively[4] - Earnings per share stood at RMB 0.34[4] - The company's operating revenue for 2017 reached CNY 15,456,514,443, representing a 57.24% increase compared to CNY 9,829,779,247 in 2016[30] - The net profit attributable to shareholders for 2017 was CNY 1,140,410,658, an increase of 89.88% from CNY 600,585,444 in 2016[30] - The net profit after deducting non-recurring gains and losses was CNY 1,265,232,627, up 120.44% from CNY 573,948,287 in 2016[30] - The company's total assets as of the end of 2017 were CNY 79,980,021,253, a 24.31% increase from CNY 64,341,288,628 in 2016[30] - The basic earnings per share for 2017 was CNY 0.34, an increase of 88.89% compared to CNY 0.18 in 2016[31] - The weighted average return on equity for 2017 was 9.41%, an increase of 4.16 percentage points from 5.25% in 2016[31] - The net profit for the current period is CNY 1,140,410,658, an increase from CNY 600,585,444 in the previous period, reflecting a significant growth[34] Cash Flow and Assets - The net cash flow from operating activities for 2017 was negative CNY 1,628,276,493, a decline of 179.04% compared to positive CNY 2,060,181,798 in 2016[30] - The company's cash flow from operating activities showed a negative net amount of CNY -2,174,266,593 in the fourth quarter, indicating challenges in cash generation[37] - The company's cash and cash equivalents increased by 34.90% year-on-year, indicating improved liquidity[44] - The total assets of the company reached CNY 79.98 billion, an increase of 24.31% compared to the same period last year[44] - Current assets accounted for 87.41% of total assets, with cash and cash equivalents making up 13.62%, up 1.07 percentage points year-on-year[79] - The company's total liabilities amounted to 66.62 billion yuan, reflecting a growth of 27.89% year-on-year[79] Business Strategy and Development - The company aims to strengthen its real estate development business and achieve nationwide expansion while leveraging its core advantages in the exhibition industry[6] - The company is actively cultivating new businesses in health care and cultural creativity to inject vitality into its innovative development[5] - The company will continue to focus on low-cost expansion and professional management to mitigate market risks and enhance operational efficiency[15] - The company plans to pursue low-cost expansion, brand expansion, and capital expansion strategies moving forward[48] - The company is actively integrating various industry resources to enhance its exhibition and hotel operations[47] - The company has entered 14 cities, establishing a foundation for nationwide scalable development[47] - The company is focusing on expanding its presence in key markets, with multiple new projects launched in Jiangsu and Sichuan provinces[83] Risks and Challenges - The company acknowledges potential risks related to real estate policies and market competition, emphasizing the need for careful monitoring and risk management[14] - The company is facing a short-term risk of talent shortages due to rapid expansion and increased demand for specialized and senior management personnel[15] - The company faces risks related to policy changes in the real estate sector, which could impact land acquisition, project development, and financing[99] Investment and Projects - The company holds and operates properties exceeding 1.27 million square meters, with 1.2 million square meters located in the Beijing Olympic core area[43] - The company has 38 ongoing and planned development projects across 14 key cities, enhancing its market share and development scale[42] - The company acquired a total of 9 land parcels in cities including Wuxi, Haikou, Wuhan, and Chengdu, adding approximately 1.94 million square meters of land reserves, with equity land reserves of about 1.27 million square meters[58] - The company has several residential and commercial projects under construction across various regions, including Beijing, Hunan, and Zhejiang[82] Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 0.11 per share, totaling RMB 370.3722 million, based on a total share capital of 3,367,020,000 shares[10] - For the 2017 fiscal year, the company plans to distribute a cash dividend of RMB 1.10 per share, amounting to RMB 370,372,200, which is 32.48% of the net profit attributable to shareholders[104] - The company has maintained a cash dividend policy that requires at least 10% of the distributable profits to be allocated as cash dividends each year[103] Corporate Governance and Compliance - The company has established a comprehensive governance structure, including a board of directors, supervisory board, and various specialized committees to ensure effective decision-making and oversight[172] - The audit committee held four meetings during the reporting period to review financial reports and oversee internal control audits[178] - The company has maintained compliance with relevant laws and regulations regarding information disclosure, ensuring transparency for all shareholders[173] - The company has not faced any penalties from securities regulatory agencies in the past three years[165] Environmental and Social Responsibility - The company reported a surplus of approximately 4,346 tons in carbon emission quotas, contributing positively to the capital's "Blue Sky Action" initiative[66] - The company has complied with environmental regulations and achieved standard emissions as of December 31, 2017, with all pollution discharge permits passing re-inspection[137] - Sustainability initiatives are being prioritized, with a commitment to reduce carbon emissions by 20% over the next five years[157]

Financial Performance - Operating revenue for the first nine months reached CNY 10.10 billion, a 39.12% increase year-on-year[8] - Net profit attributable to shareholders rose by 96.83% to CNY 835.38 million[8] - Basic earnings per share increased by 92.31% to CNY 0.25[8] - The company reported a net profit excluding non-recurring gains and losses of CNY 826.18 million, up 103.51% year-on-year[8] - The company's operating revenue for the first nine months of 2017 reached CNY 10,104,873,510, an increase of 39.12% compared to CNY 7,263,391,645 in the same period of 2016[18] - The net profit attributable to shareholders was CNY 835,381,620, up 96.83% from CNY 424,424,909 in the previous year[18] - Basic earnings per share increased to CNY 0.25, a 92.31% rise from CNY 0.13 in the same period last year[18] - Net profit for the first nine months of 2017 reached CNY 648,473,731, compared to CNY 180,642,012 in the same period last year, representing an increase of 259%[39] Assets and Liabilities - Total assets increased by 19.46% to CNY 76.86 billion compared to the end of the previous year[8] - The total assets as of September 30, 2017, amounted to CNY 76,862,102,104, compared to CNY 64,341,288,628 at the beginning of the year[23] - Total liabilities increased to CNY 33,823,626,975 from CNY 27,991,275,368, marking a rise of 21.0%[29] - Long-term borrowings increased by 39.69% to RMB 23.539 billion from RMB 16.852 billion[17] - The company's long-term borrowings increased to CNY 23,539,440,820, up from CNY 16,851,741,920 at the beginning of the year[23] Cash Flow - Cash flow from operating activities decreased by 90.46% to CNY 545.99 million[8] - The net cash flow from operating activities was CNY 545,990,100, significantly down from CNY 5,723,130,361 year-on-year[42] - Cash inflow from investment activities totaled CNY 1,893,565,435, compared to CNY 461,599,514 in the previous year, marking a substantial increase[43] - Cash outflow from investment activities was CNY 4,333,553,253, up from CNY 2,434,934,704, resulting in a net cash flow from investment activities of -CNY 2,439,987,818[43] - Cash inflow from financing activities reached CNY 13,729,069,808, an increase from CNY 11,829,129,794 year-on-year[43] - Net cash flow from financing activities was CNY 5,976,310,971, a significant rise compared to CNY 51,023,270 in the previous year[43] Shareholder Information - The total number of shareholders reached 165,282[10] - The largest shareholder, Beijing Beichen Group, holds 34.48% of shares, with 1.16 billion shares[10] - HKSCC NOMINEES LIMITED is the second-largest shareholder with 20.38% of shares, totaling 686.34 million shares[10] Construction and Sales - In the first nine months of 2017, the company achieved a new land reserve of 1,524,300 square meters, a year-on-year decrease of 24.98%[14] - The company reported a new construction area of 1,818,200 square meters, down 7.75% year-on-year, and a completion area of 485,400 square meters, down 44.98% year-on-year[14] - The signed sales area was 824,500 square meters with a signed amount of RMB 14.738 billion, representing a year-on-year decrease of 37.07% and 21.65% respectively[14] - The settlement area was 579,600 square meters with a settlement amount of RMB 7.986 billion, showing a year-on-year increase of 22.98% and 53.31% respectively[14] Investment and Financial Assets - The company reported a significant increase in investment income to CNY 5,589,466, compared to a loss of CNY 1,903,755 in the previous year, marking a 393.60% improvement[18] - The company’s financial assets measured at fair value amounted to RMB 600 million, attributed to the purchase of principal-protected short-term financial products[17] - The company reported a net investment loss of CNY 10,941,953 for Q3 2017, compared to a gain of CNY 996,228 in Q3 2016[31] Operating Costs - The operating cost increased to CNY 6,857,330,911, reflecting a rise of 44.56% from CNY 4,743,585,248, primarily due to increased expenses associated with property sales[18] - Total operating costs for Q3 2017 were CNY 1,906,583,815, down 31.8% from CNY 2,798,404,314 in Q3 2016[31] - Operating costs for Q3 2017 were CNY 423,261,398, down from CNY 695,662,323 in Q3 2016[38]

Financial Performance - The company's operating revenue for the first half of the year reached ¥7,852,746,675, representing a 78.61% increase compared to ¥4,396,479,132 in the same period last year[21]. - Net profit attributable to shareholders was ¥623,069,190, a 57.25% increase from ¥396,233,385 in the previous year[21]. - The basic earnings per share increased to ¥0.19, up 58.33% from ¥0.12 in the same period last year[23]. - The total assets of the company grew by 15.18% to ¥74,109,046,404 from ¥64,341,288,628 at the end of the previous year[22]. - The company's real estate development revenue reached RMB 785,274.7 million, a significant increase of 78.61% year-on-year[42]. - The net profit attributable to the parent company was RMB 62,306.9 million, up 57.25% compared to the previous year[42]. - The company achieved a contract sales amount of RMB 93 billion and a sales area of 500,000 square meters during the reporting period[42]. - The company reported a revenue increase of 78.61% to RMB 7.85 billion, while operating costs rose by 104.19% to RMB 5.58 billion[53]. - The company reported a total profit for the current period of ¥314,717,925, an increase of 58.8% from ¥198,080,217 in the previous period[150]. Market Strategy - The company aims to expand its market presence by focusing on mature cities with favorable investment environments and reasonable housing price-to-income ratios[7]. - The company will adopt a low-cost expansion strategy, utilizing equity acquisitions and cooperative development to reduce financial pressure and operational risks[7]. - The company plans to focus on both heavy asset investment and light asset service business models for future growth[34]. - The company will focus on mature markets with favorable investment environments and reasonable housing price-to-income ratios for new project feasibility studies and profit forecasts[81]. - The company aims to reduce financial pressure and operational risks through low-cost expansion strategies, including equity acquisitions and cooperative developments[81]. Risk Management - The company emphasizes the importance of monitoring macro policies and market changes to mitigate risks associated with property development[6]. - The company acknowledges the risk of compressed profit margins due to rising land prices in competitive markets[6]. - The company recognizes the cyclical nature of real estate policies and their potential impact on project development and financing[6]. - The company is committed to improving project turnover speed and cash recovery rates to prevent market risks[7]. - The company emphasizes the importance of policy research to mitigate risks associated with real estate development, given the cyclical nature of related policies[80]. Talent Development - The company plans to enhance its talent pool through various training programs to address the increasing demand for specialized and senior management personnel[7]. - There is a significant short-term risk of talent shortages due to the rapid increase in cross-regional real estate projects and management needs[81]. - The company is actively promoting talent development through various training programs for project managers and senior financial personnel[81]. Project Development - The company has over 30 ongoing and planned development projects across 12 key cities in China, enhancing its market share and scale[29]. - The company has completed a total construction area of 431 million square meters and a completion area of 49 million square meters during the reporting period[42]. - The company achieved a cash recovery rate of 105% and reported sales of 130,000 square meters with a sales amount of RMB 2.1 billion during the reporting period[44]. - The company has a significant ongoing project in Chengdu with an estimated investment of CNY 2.34 billion[62]. - The company plans to achieve a new construction area of 1.78 million square meters and a sales target of 750,000 square meters in the second half of 2017, with a contract signing amount of RMB 10.7 billion[77]. Financial Position - The net cash flow from operating activities decreased by 39.50% to ¥957,930,063 from ¥1,583,300,688 in the previous year[22]. - Cash and cash equivalents at the end of the period amounted to 11.60 billion yuan, representing 15.65% of total assets, an increase of 43.64% compared to the previous period[56]. - The company’s long-term borrowings due within one year increased by 104.89% to 5.95 billion yuan, reflecting a rise in short-term financial obligations[56]. - The company reported a total of 176,029 common stock shareholders by the end of the reporting period[106]. - The company has a total bank credit of ¥22.1 billion, with ¥15.3 billion drawn and ¥6.8 billion remaining[133]. Corporate Governance - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[5]. - The company has not faced any violations in decision-making procedures regarding external guarantees[5]. - The company has not experienced any changes in accounting policies or significant accounting errors during the reporting period[102]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[102]. - The company has not issued any convertible bonds during the reporting period[102].