北京国枫（深圳）律师事务所 关于沙河实业股份有限公司 2023 年第一次临时股东大会的 法律意见书 国枫律股字[2023]C0108 号 北京国枫（深圳）律师事务所（以下简称"本所"）接受贵公司的委托，指 派律师出席并见证贵公司 2023 年第一次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称《公司法》）、《中华 人民共和国证券法》（以下简称《证券法》）、《上市公司股东大会规则》（以 下简称《股东大会规则》）、《律师事务所从事证券法律业务管理办法》（以下 简称《证券法律业务管理办法》）、《律师事务所证券法律业务执业规则（试行）》 （以下简称《证券法律业务执业规则》）等相关法律、行政法规、规章、规范性 文件及《沙河实业股份有限公司章程》（以下简称《公司章程》）的规定，就本 次会议的召集与召开程序、召集人资格、出席会议人员资格、会议表决程序及表 决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员 资格、会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案 内容及该等议 ...

一、召开会议的基本情况 1.会议届次：2023年第一次临时股东大会 2.会议召集人：公司董事会。经公司董事会2023年7月28日召开的 第十届董事会第十九次会议，审议通过了《关于召开公司2023年第一 次临时股东大会的议案》，决定召开本次股东大会。 证券代码：000014 证券简称：沙河股份 公告编号：2023-30 沙河实业股份有限公司 关于召开 2023 年第一次临时股东大会的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 沙河实业股份有限公司（以下简称"本公司"或"公司"）已于 2023 年 7 月 29 日 在 《 证 券 时 报 》 、 巨潮资讯网 （http://www.cninfo.com.cn）刊登了《关于召开 2023 年第一次临时 股东大会的通知》（公告编号 2023-29）。本次会议将采取现场投票与 网络投票相结合的方式，为切实保护广大投资者的合法权益，方便公 司股东行使表决权，现将本次股东大会的有关事项提示如下: 3.会议召开的合法、合规性：本次股东大会的召集、召开符合有 关法律、行政法规、部门规章、规范性文件和公司章程的规 ...

证券代码：000014 证券简称：沙河股份 公告编号：2023-14 沙河实业股份有限公司 沙河实业股份有限公司 2023 年第一季度报告 2023 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第一季度报告是否经审计 □是 否 1 | | | | 单位：元 | | --- | --- | --- | --- | | 项目 | 本报告期金额 | 说明 | | | 除上述各项之外的其他营业外收入和支出 | 12,000.00 | | | | 减：所得税影响额 | 3,000.00 | | | | 合计 | 9,000.00 | | | 一、主要财务数据 其他符合非经常性损益定义的损益项目的具体情况 （一） 主要会计数据和财务指标 沙河实业股份有限公司 2023 年第 ...

Financial Performance - The company's operating revenue for 2022 was CNY 763,601,802.32, representing an increase of 18.99% compared to CNY 641,736,448.88 in 2021[21]. - Net profit attributable to shareholders reached CNY 248,678,665.41, a significant increase of 602.02% from CNY 35,423,521.56 in the previous year[21]. - The basic earnings per share for 2022 was CNY 1.03, up 586.67% from CNY 0.15 in 2021[21]. - The company's total assets at the end of 2022 were CNY 2,990,660,492.56, an increase of 17.80% from CNY 2,538,868,019.69 at the end of 2021[21]. - Cash flow from operating activities improved to CNY 352,480,091.64, a turnaround from a negative cash flow of CNY -72,482,011.57 in 2021, marking a 586.30% increase[21]. - The weighted average return on equity for 2022 was 23.74%, up from 3.89% in 2021, indicating improved profitability[21]. - The net profit after deducting non-recurring gains and losses was CNY 86,746,999.89, reflecting a 231.16% increase from CNY 26,194,952.98 in 2021[21]. - The company's net assets attributable to shareholders increased to CNY 1,166,662,715.28, a rise of 25.71% from CNY 928,065,953.22 in 2021[21]. Market Conditions - The average price index for new homes in the company's primary markets, Changsha and Xinxiang, showed a 33% year-on-year decline in land transaction volume, indicating a challenging market environment[33]. - The real estate market in China faced a 10% decline in development investment, with total sales area down 24.3% year-on-year[35]. - The company anticipates a gradual recovery in the real estate market in 2023, supported by favorable macroeconomic conditions[30]. - The central bank's interest rate cuts, including a 0.15 percentage point reduction in housing provident fund loan rates, are expected to stimulate housing demand[33]. Project Development - The company’s projects in Changsha and Xinxiang faced significant challenges, with Changsha's residential supply down 34% and sales down 43% year-on-year[34]. - The company has no new land reserves added during the reporting period, focusing on land acquisition in Changsha and Zhengzhou[44]. - The total land reserve area is 418.50 thousand square meters, with a total construction area of 1,541.35 thousand square meters[45]. - The company completed key project milestones ahead of schedule, including the main structure of the Changsha Deep Industry Center being topped out 43 days early[42]. - The cumulative completion rate for the Changsha Deep Industry Center project is 90%, with a total investment of CNY 949.7 million[46]. Sales and Revenue - Real estate sales accounted for 98.45% of total revenue in 2022, with a year-on-year growth of 20.22%[63]. - The gross profit margin for real estate sales was 41.00%, an increase of 3.87% compared to the previous year[64]. - The company aims to achieve sales targets primarily through the sale of residential and commercial products in Changsha and Xinxiang[52]. - The company is expanding its marketing channels to ensure effective sales of commercial properties in Xinxiang[52]. Governance and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[4]. - The company has established a complete internal control system, ensuring effective financial reporting and compliance with relevant regulations[92]. - The governance structure of the company is compliant with laws and regulations, with clear responsibilities and independent operations from its controlling shareholder[93]. - The company maintained effective internal control over financial reporting as of December 31, 2022, according to the internal control audit report[138]. Future Outlook - The company plans to invest CNY 328.02 million in 2023, with CNY 256.90 million allocated for the Changsha project[55]. - Future outlook remains positive, with management expressing confidence in achieving a net profit margin of 15% by the end of 2023[105]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[105]. - The company is committed to sustainability initiatives, with plans to reduce operational carbon emissions by 25% over the next three years[112]. Employee and Management - The company has a total of 109 employees, with 22 in technical roles and 12 in sales[127]. - The company conducted over 120 internal training sessions, with more than 1,000 participants, to enhance employee skills and knowledge[129]. - The total pre-tax remuneration for the board members, supervisors, and senior management was CNY 8.91 million[114]. Financial Management - The company has a total financing balance of CNY 228 million, with an average financing cost ranging from 4.93% to 5.13%[49]. - The company reported a significant increase in user data, with a growth rate of 15% year-over-year in active users[112]. - The company has initiated a cost-reduction strategy aimed at saving 50 million RMB annually through operational optimizations[105].

沙河实业股份有限公司 2022 年第三季度报告 证券代码：000014 证券简称：沙河股份 公告编号：2022-34 沙河实业股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示： □是 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 8,574,031.07 | 32.49% | 370,864,513.01 | 1,423.34% | | 归属于上市公司股东的净利润（元） | 141,177,574.66 | 1,556.12% | 185,018,146.68 | 693.84% | | 归属于上市公司股东的扣除非经常性 损益的净利润（元） | -14,918,096.51 | -24.32% | 24,316,269.44 | 163.84% | | 经营活动产生的现金流量净额（元） | — | — | 51,625,014.89 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 362,290,481.94, representing a 1,926.91% increase compared to CNY 17,873,992.41 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached CNY 43,840,572.02, a significant turnaround from a loss of CNY 21,460,537.16 in the previous year, marking a 304.28% increase[19]. - The net profit after deducting non-recurring gains and losses was CNY 39,234,365.95, compared to a loss of CNY 26,088,564.49 in the same period last year, reflecting a 250.39% improvement[19]. - The basic earnings per share increased to CNY 0.1811 from a loss of CNY 0.1064, representing a 270.21% increase[19]. - The company's operating revenue for the reporting period reached CNY 362,290,481.94, a significant increase of 1,926.91% compared to CNY 17,873,992.41 in the same period last year[48]. - The cost of goods sold also rose to CNY 231,866,435.62, reflecting a year-on-year increase of 1,716.74% from CNY 12,762,744.66[48]. - Real estate sales accounted for 98.86% of total revenue, amounting to CNY 358,164,712.55, which is a 3,066.25% increase from CNY 11,311,945.94 in the previous year[50]. - The gross profit margin for real estate sales was reported at 36.54%, an increase of 2.91% compared to the previous year[51]. - The net cash flow from operating activities was negative at CNY -60,350,150.58, a decline of 171.82% from CNY -22,201,960.70 in the same period last year[48]. - The company reported a significant increase in revenue from the Changsha project, contributing to the overall revenue growth[51]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,389,635,121.48, a decrease of 5.88% from CNY 2,538,868,019.69 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased to CNY 961,821,265.89, up 3.64% from CNY 928,065,953.22 at the end of the previous year[19]. - The company's total assets as of June 30, 2022, amounted to CNY 2,389,635,121.48, down from CNY 2,538,868,019.69 at the end of 2021[118]. - Total liabilities decreased to CNY 1,362,784,439.55 as of June 30, 2022, from CNY 1,545,268,782.97 at the end of 2021[118]. - The company's total current liabilities decreased to CNY 1,131,598,786.99 as of June 30, 2022, from CNY 1,411,372,171.97 at the end of 2021[118]. - Long-term borrowings increased by 78.13% to CNY 228,000,000.00 from CNY 128,000,000.00, indicating a rise in financing activities[48]. Market Conditions - The real estate market faced significant challenges in the first half of 2022, with a 26.50% decline in total sales area in Changsha, amounting to 8.781 million square meters[25]. - The average transaction price in Changsha remained stable, fluctuating between CNY 12,200 and CNY 12,700 per square meter despite a decrease in transaction volume[25]. - The company reported a total new housing supply of 1.1137 million square meters and 7,189 units in Xinxiang, representing a year-on-year decrease of 21.85% and 47.03% respectively[26]. - New housing sales in Xinxiang amounted to 1.0443 million square meters and 8,007 units, with sales revenue of 6.737 billion yuan, reflecting a year-on-year decline of 31.19%, 38.07%, and 32.86% respectively[26]. - The average selling price of residential properties decreased by 0.93% year-on-year to 6,813 yuan per square meter[26]. - The company faces significant marketing pressure due to insufficient buyer expectations and ongoing impacts from the pandemic, leading to a continued low temperature in the real estate market[65]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company is focusing on local policy adjustments to stimulate housing demand, including minor relaxations in talent recognition standards and housing subsidies for PhD holders[25]. - The company has no new land reserves during the reporting period and plans to acquire land reserves in Changsha and Zhengzhou[30]. - The company aims to improve project sales by adjusting marketing strategies in response to policy changes and market cycles[65]. - The company plans to invest 535.19 million yuan in 2022, with 460.23 million yuan allocated specifically for projects in Changsha[42]. - The company is focusing on expanding its presence in Zhengzhou while maintaining its strategic foothold in Shenzhen and Changsha[41]. Project Development - The company has successfully developed over 10 residential and commercial projects since its establishment in 1993, including the Century Village project, which has received multiple honors[28]. - The company’s main business model remains focused on land acquisition, development, and product marketing in the real estate sector[27]. - The company’s project in Changsha, Shahe City Phase III, has achieved a completion rate of 85% as of May 2022[33]. - The total investment for the Shahe Center project has been adjusted from 1,310.05 million yuan to 949.70 million yuan due to a change in sales strategy[33]. - The total pre-sale area for major projects in Changsha reached 78,763.37 square meters, with a pre-sale amount of 524.29 million yuan in the current period[34]. - The sales target for the Changsha company is set at 76,118 square meters for 2022, with a current area absorption rate of 41%[44]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,911, with the largest shareholder, Shenye Shahe (Group) Co., Ltd., holding 34.02% of the shares, amounting to 82,336,070 shares[104]. - UBS AG held 2.08% of the shares, totaling 5,034,319 ordinary shares, with a decrease of 5,023,804 shares during the reporting period[104]. - The company did not distribute cash dividends or issue new shares during the reporting period[70]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period, reflecting a stable shareholder base[105]. Financial Management - The company has implemented a standardized development and cost management strategy, enhancing its core competitiveness in project development and operation[46]. - The company plans to leverage the advantages of its controlling shareholder, a large state-owned enterprise, to enhance financing capabilities[65]. - The company reported no significant legal disputes or administrative penalties during the reporting period[82]. - The company reported no significant contracts, guarantees, or entrusted financial management during the reporting period, indicating a stable operational environment[93][97][98][99]. - The company has maintained its accounting policies in accordance with the Chinese Accounting Standards, ensuring compliance and transparency in financial reporting[142]. Accounting Policies - The company adopts the spot exchange rate on the transaction date to convert foreign currency transactions into the functional currency[150]. - Financial assets are classified into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[152]. - The company recognizes interest income on financial assets measured at amortized cost using the effective interest method[154]. - Revenue is recognized when control of goods or services is transferred to customers, primarily from real estate sales[188]. - The company recognizes real estate sales revenue when the buyer receives a written notice of delivery and either accepts the property within the agreed timeframe or fails to provide a valid reason for refusal[189].

Financial Performance - The company's operating revenue for Q1 2022 was ¥142,687,070.42, representing a significant increase of 1,663.47% compared to ¥8,091,265.77 in the same period last year[3] - Net profit attributable to shareholders was ¥15,696,777.31, a 266.40% increase from a loss of ¥9,433,104.53 in the previous year[3] - Basic and diluted earnings per share were both ¥0.08, compared to a loss of ¥0.05 per share in the previous year, marking a 260.00% increase[3] - Net profit for Q1 2022 reached CNY 15,528,367.10, a turnaround from a net loss of CNY 9,387,191.63 in the previous year[17] - The total comprehensive income attributable to the parent company was CNY 15,696,777.31, compared to a loss of CNY 9,433,104.53 in the previous period[18] Cash Flow - The net cash flow from operating activities improved to ¥2,207,222.53, a turnaround of 108.84% from a negative cash flow of ¥24,972,593.95 in the same period last year[3] - Cash inflow from operating activities totaled CNY 172,543,168.63, an increase from CNY 129,083,789.42 year-on-year[21] - The company’s total cash outflow from operating activities was CNY 170,335,946.10, compared to CNY 154,056,383.37 in the previous year[21] - Cash flow from financing activities saw a net inflow of ¥56,821,535.79, a 188.14% increase compared to a net outflow of ¥64,463,901.73 in the previous year[7] - Cash flow from financing activities generated a net inflow of CNY 56,821,535.79, compared to a net outflow of CNY 64,463,901.73 in the same period last year[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,444,831,193.85, a decrease of 3.70% from ¥2,538,868,019.69 at the end of the previous year[3] - Current assets decreased to CNY 2,134,934,333.19 from CNY 2,227,983,491.84 at the start of the year, reflecting a decline of approximately 4.2%[12] - Total liabilities decreased to CNY 1,435,703,590.03 from CNY 1,545,268,782.97, indicating a decline of approximately 7.1%[14] - The company's cash and cash equivalents increased to CNY 381,470,198.43 from CNY 323,830,936.50, representing a growth of about 17.7%[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,028, indicating a stable shareholder base[9] - The company received CNY 60,000,000.00 from borrowings, up from CNY 20,000,000.00 in the previous period[22] - The company paid CNY 2,175,474.91 in dividends and interest, compared to CNY 1,665,983.07 in the previous year[22] Operating Costs - The company reported a significant increase in operating costs, which rose to ¥93,959,341.00, a 1,680.22% increase from ¥5,277,958.59 in the previous year[7] - Total operating costs for Q1 2022 amounted to CNY 124,878,249.08, compared to CNY 23,318,484.70 in Q1 2021, indicating an increase of about 436%[16] Accounts Receivable and Payable - Accounts receivable increased by 178.27% to ¥1,757,715.31 due to an increase in rental income[7] - The company reported a significant reduction in accounts payable, which decreased to CNY 160,720,359.93 from CNY 332,736,553.74, a decline of approximately 51.7%[13]

Financial Performance - The company's operating revenue for 2021 was CNY 641,736,448.88, representing an increase of 85.11% compared to CNY 346,673,403.12 in 2020[19]. - The net profit attributable to shareholders for 2021 reached CNY 35,423,521.56, a significant increase of 709.81% from CNY 4,374,307.33 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 26,194,952.98, up 532.25% from a loss of CNY 6,060,175.95 in 2020[19]. - The basic earnings per share for 2021 was CNY 0.18, an increase of 800% compared to CNY 0.02 in 2020[19]. - The total assets at the end of 2021 were CNY 2,538,868,019.69, reflecting a growth of 4.32% from CNY 2,433,688,819.31 at the end of 2020[19]. - The net assets attributable to shareholders increased to CNY 928,065,953.22, a rise of 3.78% from CNY 894,255,497.62 in 2020[19]. - The company reported a negative net cash flow from operating activities of CNY -72,482,011.57, a decrease of 127.97% compared to CNY 259,151,612.03 in 2020[19]. - The weighted average return on equity for 2021 was 3.89%, up from 0.49% in 2020[19]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares and issue 2 bonus shares for every 10 shares held[5]. - The total distributable profit for the parent company at the end of 2021 was CNY 297,544,965.76, with a proposed cash dividend of CNY 10,085,259.35, accounting for 20% of the total profit distribution[138][139]. - The cash dividend per 10 shares is set at CNY 0.50 (including tax)[139]. - The total cash dividend amount, including other methods, was CNY 10,085,259.35[138]. Market and Sales Performance - In Q4 2021, the company's operating revenue reached 617,390,982.23 CNY, showing a significant increase compared to previous quarters[23]. - The net profit attributable to shareholders in Q4 2021 was 66,579,517.68 CNY, a turnaround from losses in the first three quarters[23]. - The total sales area of new residential properties in Changsha reached 26,057,900 square meters in 2021, a year-on-year increase of 9.5%[30]. - The total sales revenue in Changsha for new residential properties was 262.032 billion CNY, up 19.3% year-on-year[30]. - In Xinxiang, the total sales area of new homes decreased by 22.27% to 246,440 square meters in 2021[31]. - The average selling price of residential properties in Xinxiang was 6,992 CNY per square meter, reflecting a year-on-year increase of 3.37%[31]. - Real estate sales accounted for ¥625,355,165.60, which is 97.45% of total revenue, showing an 89.14% increase from ¥330,637,167.38 in 2020[61]. - The gross profit margin for real estate sales was 37.13%, slightly down by 0.56% from the previous year[63]. Operational Challenges and Strategies - The company faced challenges due to adverse weather conditions and material shortages but managed to complete all engineering tasks through effective project management[39]. - The company implemented multi-channel marketing strategies in 2021, achieving sales targets despite low market interest in certain projects[37]. - The company is actively addressing risks related to real estate tax legislation and demographic challenges impacting long-term growth[36]. - The company plans to focus on land expansion in Changsha and Xinxiang, emphasizing quality construction and reasonable bidding strategies[33]. - The company is facing challenges in the real estate market due to regulatory changes and a shift towards stabilizing housing prices[88]. - The company anticipates ongoing pressure in the real estate sector, with opportunities for competitive firms to leverage a relatively relaxed financing environment[89]. - The company faced slow inventory turnover due to real estate regulations and insufficient land reserves, primarily concentrated in Changsha and Zhengzhou[91]. Governance and Compliance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring effective internal controls and accountability[96]. - The company has established a complete internal control system, with no significant deficiencies reported during the period[98]. - The company operates independently from its controlling shareholder in terms of personnel, assets, finance, and business operations[100]. - The company has a clear separation of duties and responsibilities among its board, supervisory board, and management, ensuring effective governance[97]. - The company actively engages in information disclosure, ensuring all shareholders have equal access to important information[98]. - The company has maintained a strong governance structure with independent directors ensuring compliance and oversight[120]. - The company has not faced any penalties from regulatory bodies in the past three years, indicating a stable compliance record[118]. Employee and Management Structure - The company had a total of 128 employees at the end of the reporting period, with 45 in the parent company and 83 in major subsidiaries[134]. - The professional composition includes 12 sales personnel, 23 technical staff, 13 financial staff, 26 administrative staff, 38 management personnel, and 16 property management staff[134]. - The educational background of employees shows 17 with master's degrees or above, 59 with bachelor's degrees, 28 with associate degrees, and 24 with vocational or lower education[134]. - The management team has a diverse background, with members holding significant positions in other companies, which may enhance strategic partnerships[117]. - The company has expanded its management team with experienced professionals from various sectors, enhancing its operational capabilities[118]. Future Outlook and Investments - The company plans to invest 53.519 million yuan in 2022, with 46.023 million yuan allocated for the Changsha company[54]. - The company aims to expand its market presence in Zhengzhou while maintaining a focus on Shenzhen, Changsha, and Xinxiang as strategic locations for new project development[53]. - The company plans to continue its deep cultivation strategy in cities, focusing on expanding land resources and seeking new project opportunities[53]. - The company is committed to sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[114]. - The company is focused on expanding its market presence through strategic investments and partnerships in the real estate sector[118]. Audit and Financial Reporting - The audit opinion for Shahe Industrial Co., Ltd. is a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position as of December 31, 2021[198]. - The audit was conducted by PwC Zhongtian, with the report number PwC Zhongtian Audit No. (2022) 10086[197]. - The financial statements were prepared in accordance with the accounting standards for enterprises, ensuring a true and fair view of the company's operating results and cash flows for the year 2021[199].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥17,873,992.41, a decrease of 91.51% compared to ¥210,547,135.81 in the same period last year[20]. - The net profit attributable to shareholders was a loss of ¥21,460,537.16, representing a decline of 191.77% from a profit of ¥23,384,010.42 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥26,088,564.49, a decrease of 239.73% compared to a profit of ¥18,670,122.31 last year[20]. - The net cash flow from operating activities improved to -¥22,201,960.70, a 47.95% improvement from -¥42,658,721.61 in the same period last year[20]. - The company's cash and cash equivalents decreased by 197.42% to -¥85,376,650.75, down from ¥87,640,214.23, primarily due to reduced financing cash flow[55]. - The company reported a net profit of -1.004 million yuan for its headquarters in the first half of 2021[32]. - The company reported a total revenue of CNY 2,038,663.97, with a net profit of CNY -6,230,724.00, indicating a challenging financial period[68]. - The company reported a basic and diluted earnings per share of -0.1064 for the first half of 2021, compared to 0.1159 in the same period of 2020[131]. - The comprehensive income for the period was a loss of RMB 21,381,127.48, reflecting a significant decline in profitability[135]. - The company reported a significant increase in management expenses, which rose to RMB 24,758,605.36 from RMB 18,844,523.18 in the previous year, marking an increase of approximately 31.3%[144]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,531,058,740.83, an increase of 4.00% from ¥2,433,688,819.31 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 2.58% to ¥871,181,894.50 from ¥894,255,497.62 at the end of the previous year[20]. - The company's total asset value was CNY 1,775,521,915.09 and net assets of CNY 243,830,515.44[68]. - Total liabilities increased to RMB 1,600,280,035.56 as of June 30, 2021, up from RMB 1,479,915,920.60 at the end of 2020[129]. - Shareholders' equity decreased to RMB 930,778,705.27 from RMB 953,772,898.71 at the end of 2020[129]. - The company's total assets included cash and cash equivalents of ¥380,299,845.40, which accounted for 15.03% of total assets, down from 19.31%[59]. Sales and Market Performance - The company continues to focus on real estate development and management, maintaining its operational model without significant changes[26]. - The company emphasizes improving project sales and construction while controlling costs and enhancing team building[27]. - The total sales area of commercial housing in China reached 886.35 million square meters, a year-on-year increase of 27.70%[29]. - The sales volume in Shenzhen increased by 56.30% year-on-year, with 26,140 new residential units sold[29]. - In Changsha, the total sales volume reached 126.91 billion yuan, up 45% year-on-year[30]. - Real estate sales accounted for 63.29% of total revenue, totaling ¥11,311,945.94, a significant decline of 94.48% year-on-year[56]. - Rental income increased by 7.84% to ¥4,770,593.91, representing 26.69% of total revenue[56]. Project Development and Management - The company has successfully developed multiple residential and commercial projects, maintaining a strong brand presence in the market[26]. - The construction progress of major projects in Changsha is at 80% completion, with significant milestones achieved despite adverse weather conditions[38]. - The company aims for a sales area of 95,241.15 square meters in 2021 for the Changsha company, with a planned sales area of 75.99% for the Shahe City Phase I high-rise product[50]. - The company is focusing on project sales in Changsha, particularly the Shahe City Phase III A high-rise and the Deep Industry Center apartment products, implementing a dual-project sales strategy[44]. - The company has completed the construction of the Shahe City Phase I project in October and aims to complete the main structure of Phase III B by the end of the year[45]. Financing and Investment - The company has a financing balance of 15,000 million yuan from bank loans, with an average financing cost ranging from 4.90% to 5.13%[41]. - The company plans to invest a total of 72,470 million yuan in 2021, with 68,291 million yuan allocated to the Changsha company and 3,971 million yuan to the Xinxiang company[47]. - The company received RMB 30,000,000.00 from investment activities in the first half of 2021, indicating a positive cash flow from investments[146]. Corporate Governance and Compliance - The company has not distributed cash dividends or issued new shares during the reporting period[77]. - The financial report for the first half of 2021 was not audited[124]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[160]. - The company has not engaged in any related party transactions during the reporting period[90]. - The company has no significant litigation or arbitration matters during the reporting period[89]. Strategic Focus - The company maintains a strong commitment to the "housing is for living, not for speculation" policy, anticipating continued government regulation in the second half of 2021[31]. - The company is shifting its focus to Zhengzhou for new project expansion, having completed land acquisition in the area[46]. - The company plans to leverage the advantages of its controlling shareholder, a large state-owned enterprise in Shenzhen, to enhance financing capabilities[72]. - The company aims to continue its deep cultivation strategy in Changsha and Zhengzhou, focusing on acquiring land reserves[72].