Financial Performance - The company's operating revenue for 2014 was CNY 1,268,451,451.86, a decrease of 21.66% compared to CNY 1,619,227,227 in 2013[22] - Net profit attributable to shareholders was CNY 417,498,679.91, representing an increase of 38.78% from CNY 300,840,563.81 in the previous year[22] - The net profit after deducting non-recurring gains and losses was CNY 253,778,668.88, down 15.47% from CNY 300,239,183.47 in 2013[22] - The basic earnings per share increased by 38.77% to CNY 0.7005 from CNY 0.5048 in 2013[22] - The total operating costs for 2014 were CNY 497,649,218.57, reflecting a decrease of 32.58% compared to the previous year[40] - The total revenue for 2014 was 809,260,338.23 CNY, representing a year-on-year decrease of 34.25%[49] - The total cost of sales for 2014 was 162,645,492.90 CNY, which decreased by 63.43% compared to the previous year[49] - The company’s net profit for 2014 was 417,498,679.91 CNY, with a profit distribution ratio of 31.40%[86] Assets and Liabilities - The total assets at the end of 2014 were CNY 3,883,288,145.46, a slight increase of 0.26% from CNY 3,873,252,714 in 2013[22] - Total liabilities decreased to CNY 1,808,183,396.33 from CNY 2,069,609,334.58, a reduction of about 12.6%[200] - Cash and cash equivalents decreased to CNY 808,963,376.68 from CNY 977,171,814.20, a decline of approximately 17.3%[198] - Accounts receivable rose to CNY 26,585,132.12 from CNY 22,208,022.21, representing an increase of about 19.9%[198] - Inventory increased significantly to CNY 2,323,472,671.20 from CNY 2,101,399,879.93, marking a growth of approximately 10.6%[198] - Short-term borrowings decreased to CNY 100,000,000.00 from CNY 300,000,000.00, a decline of 66.67%[200] - Long-term borrowings increased to CNY 177,613,352, accounting for 4.57% of total assets, reflecting a rise of 1.57% due to new project financing[54] Cash Flow - The cash flow from operating activities showed a significant decline, with a net outflow of CNY 14,627,057.08 compared to a positive cash flow of CNY 110,424,330.10 in 2013, a decrease of 113.25%[22] - The net cash flow from operating activities was -14,627,057.08 CNY, a significant decline of 113.25% year-on-year[45] - The investment activities generated a net cash flow of 224,220,310.61 CNY, an increase of 3,660.71% compared to the previous year[45] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 2.20 per 10 shares to shareholders[5] - In 2014, the company distributed a cash dividend of 2.20 CNY per 10 shares, totaling 131,115,400.24 CNY, which represents 100% of the profit distribution amount[86] - The cash dividend policy mandates that at least 80% of the profit distribution should be in cash during mature development stages without significant capital expenditure plans[86] Market and Operational Challenges - The company faces risks related to changes in national real estate and financial policies, as well as shifts in supply and demand in the real estate market[12] - The company has experienced a significant decline in sales and profitability due to reduced project sales and settlement areas compared to the previous year[76] - The company faces significant challenges in land reserves, as there are currently no available lands for development outside of ongoing projects, making land acquisition a core task for the next three years[75] Corporate Governance and Management - The company has established a complete and clear internal governance structure, complying with relevant laws and regulations[164] - The company emphasizes the importance of independent directors, with members having significant academic and professional credentials[146][147] - The management team is composed of individuals with a mix of educational backgrounds, including master's degrees and doctorates, enhancing the company's strategic decision-making capabilities[145][148] - The company has maintained stability in its leadership structure, with no changes in the shareholding of key executives during the reporting period[141] Social Responsibility and Sustainability - The company has actively participated in social responsibility initiatives, including environmental protection and community support activities[88] - The company completed energy-saving renovations that reduced total air conditioning electricity consumption by 20%, achieving an annual energy saving of nearly 2.1 million kWh[88] Future Outlook and Strategic Initiatives - The company plans to enhance project management and quality control for ongoing projects, including "Shenzhen Property · Jinling Holiday" and "Qianhai Port Bay Garden" in 2015[77] - The company aims to adjust sales strategies in response to market conditions and leverage internet marketing to expand customer reach[78] - The company is committed to reform and innovation, particularly in property management and taxi operations, to enhance competitiveness and find new profit growth points[78]

Financial Performance - Operating revenue for the reporting period was CNY 311,190,490.67, representing a 133.02% increase year-on-year, while year-to-date revenue decreased by 45.16% to CNY 812,558,050.45[7][16] - Net profit attributable to shareholders of the listed company for the reporting period was CNY 211,050,899.19, a significant increase of 7,834.77% year-on-year, but a decrease of 9.30% year-to-date[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 39,877,048.38, up 1,015.21% year-on-year, but down 59.74% year-to-date[7] - The company reported a net profit attributable to the parent company of ¥211,050,899.19 for the period of July to September, an increase of 7834.77% year-on-year, driven by increased investment income and project sales[18] - The income tax expense for the period of July to September was ¥58,884,855.72, an increase of 44788.23% year-on-year, due to increased profits[18] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 4,027,219,661.56, an increase of 3.98% compared to the end of the previous year[7] - Net assets attributable to shareholders of the listed company increased by 9.69% to CNY 1,977,386,902.89[7] - Accounts receivable at the end of the period increased by 31.95% to CNY 29,302,653.48, primarily due to increased management fees receivable from subsidiaries[15] - Long-term equity investments decreased by 48.42% to CNY 32,551,017.07, mainly due to the sale of 50% equity in Shenzhen Guomao Tianan Property Co., Ltd.[15] - Long-term borrowings increased by 52.79% to CNY 177,613,352.00, attributed to increased project borrowings by subsidiaries[15] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 95,480,120.87, a decrease of 224.12% year-on-year[7] - The net cash flow from operating activities for the same period was -¥95,480,120.87, a decrease of 224.12% year-on-year, attributed to reduced cash inflow from property sales and increased project investments[19] - The net cash flow from investing activities was ¥233,793,250.32, an increase of 3360.11% year-on-year, due to cash received from the sale of 50% equity in Shenzhen Guomao Tianan Property Co., Ltd.[19] - The company recorded a net increase in cash and cash equivalents of ¥2,965,374.21, a decrease of 93.40% year-on-year, due to increased project investments and dividend payments[19] Expenses and Income - The company's operating tax and additional fees from January to September amounted to ¥152,426,532.16, a decrease of 49.33% year-on-year due to reduced project settlement income[17] - Financial expenses for the same period were -¥8,148,467.29, an increase of 64.16% year-on-year, primarily due to increased interest income[17] - Investment income from January to September reached ¥214,286,961.91, a significant increase of 4038.39% year-on-year, mainly from the sale of 50% equity in Shenzhen Guomao Tianan Property Co., Ltd.[17] - The net amount of non-operating income and expenses from January to September was ¥4,244,544.63, an increase of 746.13% year-on-year, primarily from gains on fixed asset disposals[18] Significant Transactions - The company successfully transferred 50% equity in Shenzhen Guomao Tianan Property Co., Ltd. on July 14, 2014, which significantly impacted its financial results[21]

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 501.37 million, a decrease of 62.81% compared to CNY 1.35 billion in the same period last year[21]. - The net profit attributable to shareholders was CNY 112.07 million, down 68.30% from CNY 353.60 million year-on-year[21]. - The net cash flow from operating activities was negative CNY 189.89 million, a decline of 249.95% compared to CNY 126.64 million in the previous year[21]. - Basic earnings per share decreased to CNY 0.1881, down 68.30% from CNY 0.5933 in the same period last year[21]. - The weighted average return on net assets was 6.19%, down from 21.06% in the previous year[21]. - The company reported a total profit of CNY 1.48 billion for the first half of the year[30]. - The total comprehensive income for the period was CNY 112,522,530.68, compared to CNY 352,896,713.10 in the previous year, reflecting a decrease of 68.1%[109]. - The company's net profit for the first half of 2014 was CNY 3,665,066.01, a significant decrease of 90.9% compared to CNY 40,159,141.82 in the same period of 2013[112]. Cash Flow and Liquidity - The net cash flow from financing activities was -$217.61 million, an increase of 1,307.46%, mainly due to decreased borrowing and dividend payments[33]. - The net increase in cash and cash equivalents was -$409.90 million, a decrease of 485.79%, primarily due to reduced cash recovery from project sales and decreased borrowing[33]. - The company's cash and cash equivalents decreased to ¥567,270,884.70 from ¥977,171,814.20, a decline of approximately 42%[101]. - Cash and cash equivalents at the end of the period were CNY 567,270,884.70, down 37.2% from CNY 903,972,985.55 at the end of the previous period[116]. - The company's cash flow from operating activities was significantly impacted by a decrease in cash received from customers, which fell by CNY 250,620,050.17 compared to the previous year[114]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3.59 billion, a decrease of 7.36% from CNY 3.87 billion at the end of the previous year[21]. - Total assets decreased to CNY 2,513,644,591.37 from CNY 2,643,301,890.77, reflecting a reduction of 4.9%[106]. - Total liabilities decreased to CNY 1,443,490,047.54 from CNY 1,427,817,639.95, indicating a slight increase of 1.1%[106]. - The total equity attributable to shareholders decreased to CNY 1,070,154,543.83 from CNY 1,215,484,250.82, a decline of 11.9%[107]. - The total owner's equity at the end of the current period is 1,068,741,228, an increase from the previous year's balance[130]. Dividends and Shareholder Information - The company plans to not distribute cash dividends or issue bonus shares for this period[6]. - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares based on a total share capital of 595,979,092 shares, approved at the 2013 annual general meeting[51]. - The total number of common shareholders at the end of the reporting period is 42,175[87]. - The largest shareholder, Shenzhen Construction Investment Holding Company, holds 54.33% of the shares, totaling 323,796,370 shares[87]. Investment and Development - The company is focusing on real estate project development and marketing, as well as expanding its rental and property management services[30]. - The company has commenced construction on two projects in prime locations in Shenzhen, indicating ongoing expansion efforts[37]. - The company has invested a total of 1,933,380,184.64 million in significant projects, with the largest project, "Shenzhen Property·Hillside Royal View," having a total planned investment of 840,000,000 million and 60% completion[50]. Market Conditions - The overall real estate market is facing challenges, with significant declines in transaction volumes and price adjustments in various cities[30]. Accounting Policies - The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises, ensuring a true and complete reflection of the company's financial status[135]. - The company uses Renminbi as its functional currency for accounting purposes[137]. - The company follows its established asset impairment accounting policy for the impairment of intangible assets[199]. Related Party Transactions and Guarantees - The company has no significant non-operating related party transactions during the reporting period[64]. - The company reported a total external guarantee amount of 42,301 million yuan, with 40,124 million yuan guaranteed for subsidiaries[76]. - There were no significant related party transactions during the reporting period[69].

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 501,367,559.78, a decrease of 62.81% compared to CNY 1,348,194,107.29 in the same period last year[21]. - The net profit attributable to shareholders was CNY 112,074,537.49, down 68.30% from CNY 353,600,992.81 year-on-year[21]. - Basic earnings per share decreased to CNY 0.1881, down 68.30% from CNY 0.5933 in the same period last year[21]. - The total profit for the first half of the year was CNY 1.48 billion, indicating ongoing efforts to stabilize operations amid market pressures[30]. - The net profit attributable to the parent company was ¥112,074,537.49, down 68.30% year-on-year, primarily due to decreased revenue from the real estate sector[33]. - The company reported a total comprehensive income of CNY 3,665,066.01, reflecting the same decline as the net profit[113]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -189,887,490.37, a decline of 249.95% compared to CNY 126,636,956.08 in the previous year[21]. - The net increase in cash and cash equivalents was negative at ¥-409,900,929.50, a decline of 485.79%, driven by decreased cash recovery from project sales and reduced borrowing[33]. - The company's cash and cash equivalents decreased from 977,171,814.20 RMB to 567,270,884.70 RMB, a decline of approximately 42%[102]. - The company’s cash flow from operating activities was significantly impacted by increased payments to suppliers and employees, totaling CNY 290,827,700.91 and CNY 140,770,571.32 respectively[116]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,588,338,174.44, a decrease of 7.36% from CNY 3,873,252,714.32 at the end of the previous year[21]. - Total liabilities decreased from 2,332,000,000 RMB to 2,200,000,000 RMB, reflecting a reduction of about 5.7%[103]. - The company's total liabilities decreased to CNY 1,099,690,000, indicating improved financial leverage[128]. Investment and Development - The company has commenced construction on two projects in prime locations in Shenzhen, indicating ongoing development and potential for future revenue growth[37]. - The company has invested a total of 499.70 million in significant projects, with 193.34 million actually spent to date[50]. - Investment income increased by 42.63% to ¥6,261,748.54, mainly due to the reversal of excess losses from a subsidiary's bankruptcy liquidation[33]. Market Conditions - The real estate market is facing significant challenges, with a notable decline in transaction volumes and price adjustments in various cities[30]. - Operating revenue decreased by 62.81% to ¥501,367,559.78 compared to the same period last year, primarily due to a reduction in settlement projects and sales[32]. Shareholder Information - The company plans to not distribute cash dividends or issue bonus shares for this period[6]. - Total number of common shareholders at the end of the reporting period is 42,175[89]. - The largest shareholder, Shenzhen Construction Investment Holding Company, holds 54.33% of shares, totaling 323,796,370 shares[89]. Accounting and Compliance - The financial report was approved by the board on August 11, 2014, reflecting the company's adherence to accounting standards[134]. - The company follows the continuous operation principle in preparing its financial statements, ensuring compliance with accounting standards[135]. - The company uses Renminbi (CNY) as its accounting currency[138]. Impairment and Valuation - The company recognizes impairment losses for financial assets when there is objective evidence of impairment, such as significant financial difficulties of the issuer or debtor[163]. - The company conducts impairment testing on significant financial assets individually and on non-significant financial assets either individually or as part of a portfolio with similar credit risk characteristics[164]. Miscellaneous - The company has no significant litigation or arbitration matters affecting its financial status[57]. - There were no asset acquisitions or sales during the reporting period[60][62]. - The company has not engaged in any equity incentive plans during the reporting period[63].

Financial Performance - The company's operating revenue for the first quarter was ¥194,462,902.01, a decrease of 77.81% compared to the same period last year[8] - The net profit attributable to shareholders was ¥27,725,441.51, down 88.27% year-on-year[8] - Basic and diluted earnings per share were both ¥0.0465, representing an 88.28% decrease from the previous year[8] - The company's weighted average return on equity was 1.53%, down 13.05% year-on-year[8] - The estimated cumulative net profit for the period from January to June 2014 is projected to be 12,000,000 CNY, a decrease of 66.06% compared to the same period last year, which was 35,360,000 CNY[22] - The basic earnings per share for the period from January to June 2014 is projected to be 0.2013 CNY, a decrease of 66.06% compared to the same period last year, which was 0.5933 CNY[22] Cash Flow - The net cash flow from operating activities was negative at ¥33,493,465.85, a decline of 135.5% compared to the previous year[8] - The net cash flow from operating activities for the year-to-date period was -33,493,465.85 CNY, a decrease of 135.50% compared to the same period last year, primarily due to a reduction in sales proceeds from property sales[13] - The net cash flow from investing activities for the year-to-date period was -692,619.00 CNY, a decrease of 44.23% compared to the same period last year, mainly due to increased cash recovery from the disposal of old vehicles and a reduction in fixed asset purchases[14] - The net cash flow from financing activities for the year-to-date period was -130,737,637.64 CNY, a decrease of 45.54% compared to the same period last year, primarily due to reduced cash payments for debt repayment[15] Operating Costs and Expenses - The company experienced a decrease in operating costs, which amounted to ¥99,128,200.24, a reduction of 71.63% compared to the previous year[15] - The company reported a significant decrease in investment income, which was ¥519,419.20, down 68.35% from the previous year[16] - The company's sales expenses were ¥1,632,556.99, a reduction of 31.13% year-on-year due to cost control measures[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 44,249[11] - There were no commitments made by the company or shareholders holding more than 5% of shares during the reporting period[21] Bankruptcy and Liquidation - The company has initiated bankruptcy liquidation for its wholly-owned subsidiary, Hainan New Da Development Co., due to its long-term losses and inability to repay debts[19] - The bankruptcy liquidation process has been accepted by the Haikou Intermediate People's Court, which ruled that the application for bankruptcy liquidation meets the acceptance criteria[19] - The company has fully provided for the accounts of Hainan New Da, indicating that the bankruptcy liquidation will not impact its financial status[19] Performance Decline - The significant decline in performance is attributed to the absence of new sales projects and the sale of mainly remaining units, leading to a substantial decrease in realizable sales compared to the previous year[22]

Financial Performance - The company's operating revenue for 2013 was CNY 1,619,227,227.60, a decrease of 13.01% compared to CNY 1,861,298,830.99 in 2012[22] - The net profit attributable to shareholders for 2013 was CNY 300,840,563.81, down 19.87% from CNY 375,422,129.64 in the previous year[22] - The basic earnings per share for 2013 was CNY 0.5048, reflecting a decline of 19.86% compared to CNY 0.6299 in 2012[22] - The net cash flow from operating activities decreased significantly by 86.29%, amounting to CNY 110,424,330.10 compared to CNY 805,714,197.38 in 2012[22] - The weighted average return on equity for 2013 was 18.19%, down from 28.43% in 2012, indicating a decline of 10.23%[22] - The company's total operating revenue for the year is CNY 161,922.73 million, with a gross profit of CNY 84,530.93 million, reflecting a strong performance in the real estate sector[34] - Revenue from real estate development was CNY 1,175,698,776.00, a decrease of 17.77% year-on-year, while the gross margin was 63.45%[47] - Revenue from property management and leasing increased by 6.78% to CNY 314,335,156.29, with a gross margin of 20.54%[47] - The company's net profit attributable to shareholders for 2013 was 300,840,563.81 yuan, with a dividend payout ratio of 49.53%[75] - The total distributable profit for the year 2013 was 972,271,884.95 yuan[75] Assets and Liabilities - Total assets at the end of 2013 were CNY 3,873,252,714.32, a decrease of 1.96% from CNY 4,006,705,938.73 at the end of 2012[22] - The total equity attributable to shareholders rose to CNY 1,802,781,292.68, up from CNY 1,503,156,542.93, marking an increase of 19.93%[183] - Total liabilities decreased to CNY 2,069,609,334.58 from CNY 2,446,687,308.74 at the start of the year, reflecting a reduction of 15.39%[183] - Current liabilities totaled CNY 1,814,227,581.82, down from CNY 2,278,634,250.85, indicating a decrease of 20.36%[183] - The company's cash and cash equivalents increased by CNY 977,171,814.20, accounting for 25.23% of total assets, up from 20.19% the previous year[49] Cash Flow - The net cash flow from operating activities was CNY 110,424,330.10, showing a significant difference from the net profit of CNY 300,840,563.81, mainly due to lower cash received from sales compared to reported revenue[44] - The cash inflow from operating activities decreased by 49.45% to CNY 1,094,310,185.61 compared to CNY 2,164,869,117.40 in the previous year, primarily due to reduced sales recovery[42] - The net cash flow from investing activities increased year-on-year, mainly due to increased cash recovered from asset disposals[43] - The net cash flow from financing activities increased, attributed to higher cash received from borrowings and reduced cash outflow for debt repayment[43] Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 2.50 per 10 shares to all shareholders[6] - The company declared a cash dividend of 2.50 yuan per 10 shares, totaling 148,994,773.00 yuan for the year 2013, which represents 100% of the total profit distribution[75] - The company did not propose any capital reserve transfer to increase share capital for the year 2013[77] - The company has a total share capital of 595,979,092 shares as of the end of 2013[77] - The total number of shareholders at the end of the reporting period was 44,931, an increase from 44,067 in the previous period[121] Operational Strategy and Market Outlook - The company has adjusted its operational strategies in response to market trends, focusing on brand promotion and project management efficiency[33] - The company is optimistic about the future of the real estate industry despite current market challenges, citing ongoing urbanization and population growth as supportive factors[32] - The company plans to focus on market expansion and new product development to enhance future growth prospects[190] - The company aims to enhance its real estate development scale and management level while optimizing existing projects and seeking expansion opportunities in the automotive operation business[54] Risk Management and Compliance - The company has outlined potential risks and countermeasures in the board report, emphasizing future development prospects[13] - The company anticipates significant market risks due to the ongoing differentiation in the real estate market and plans to adjust project development and sales strategies accordingly[65] - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[58] - The company has not reported any significant penalties or corrective actions during the reporting period[105] Corporate Governance and Management - The company has established a complete and clear internal governance structure, complying with the Company Law and relevant regulations[149] - The company has implemented a performance evaluation system for senior management based on operational targets and management goals, with annual assessments conducted by the board[166] - The company maintains complete independence from its controlling shareholder in business, personnel, assets, organization, and finance[164] - The company has a total of 3,110 employees, including 1,956 production personnel, 185 sales personnel, 670 technical personnel, 110 financial personnel, and 189 administrative personnel[146]