Dividend Distribution - The company plans to distribute a cash dividend of 0.80 RMB per 10 shares to all shareholders, based on a total share capital of 664,831,139 shares[4]. - The cash dividend represents 20.41% of the net profit attributable to the company's ordinary shareholders, which was 260,532,556.30 yuan for the year[120]. - The company extracted 10% of its net profit, amounting to 1,370,226.75 yuan, as statutory reserve fund[122]. - The total distributable profit for the year was 806,862,079.26 yuan, after accounting for previous year's dividends[121]. - The company did not issue bonus shares or increase capital through capital reserves during the reporting period[116]. Financial Performance - The company's operating revenue for 2016 was ¥8,115,755,330.09, representing a 60.78% increase compared to ¥5,047,823,963.43 in 2015[19]. - The net profit attributable to shareholders decreased by 35.06% to ¥260,532,556.30 from ¥401,177,291.16 in the previous year[19]. - The net cash flow from operating activities improved significantly, reaching ¥1,748,423,570.05, a 306.47% increase from -¥846,828,689.25 in 2015[19]. - The total assets of the company increased by 18.44% to ¥29,161,608,501.95 at the end of 2016, up from ¥24,621,393,457.39 at the end of 2015[19]. - The company's basic earnings per share decreased by 52.74% to ¥0.3959 from ¥0.8377 in 2015[19]. Business Operations - The company has not changed its main business since its listing, maintaining a stable operational focus[17]. - The company operates primarily in five cities: Shenzhen, Shanghai, Chengdu, Huizhou, and Qingdao, focusing on residential property development and sales[28]. - The company has diversified its business to include hotel operations, asset management, property management, and commercial management[29]. - The company has a commitment to continue enhancing its shareholder value through strategic initiatives and operational efficiency[4]. - The company is exploring a "Real Estate +" model, including investments in financial services, and has established a partnership with Shenzhen Zhongbao Industrial Fund Management Co., Ltd[43]. Market and Competition - The company faces significant policy risks due to tightening real estate regulations in major cities, which may impact sales and financing[106]. - Market competition is intensifying, particularly in hot cities, leading to increased land acquisition costs and potential profit margin compression[107]. - The company is heavily reliant on financial institution loans, making it vulnerable to changes in financing policies and interest rates[108]. Risk Management - The company has identified various risks including policy risk, market competition risk, financing credit risk, interest rate risk, and operational risk, which may impact future development[4]. - The company emphasizes the need for improved internal management and talent acquisition to mitigate operational risks as it expands[109]. Shareholder Structure - The company’s major shareholder structure has evolved, with the largest shareholder holding 28.47% of the total shares after a series of transfers and acquisitions[17]. - The largest shareholder, Shenzhen Zhongzhou Land Co., Ltd., holds 47.37% of the shares, totaling 314,917,359 shares, with 176,834,659 shares pledged[185]. - The second-largest shareholder, Nanchang Lian Tai Investment Co., Ltd., holds 8.30% of the shares, totaling 55,188,952 shares[186]. Subsidiaries and Investments - The company has increased its consolidated subsidiaries from 28 to 49, with 21 new additions and 2 removals during the reporting period[63]. - The company has made significant investments in new real estate projects, including a new residential development in Qingdao with an investment of CNY 10 million[79]. - The company has also established new subsidiaries in Shanghai and Chengdu, each with a 100% ownership stake, focusing on residential real estate development[79]. Legal and Compliance - The company has engaged in multiple investor communications throughout the year, indicating a proactive approach to stakeholder engagement[110]. - The company is currently in compliance with all commitments made to regulatory bodies, including the China Securities Regulatory Commission[125]. - There were significant litigation matters, including a stock transfer dispute involving the Galaxy Bay project, where the court froze 580 million RMB worth of equity[141]. Employee and Management - The company has implemented a "Senior Executive Apprentice" program to cultivate young talent and enhance their professional skills[44]. - Key management personnel compensation for the year amounted to 35.66 million RMB, an increase from 25.67 million RMB in the previous year[154]. - The management team includes several vice presidents, all of whom have maintained their shareholdings throughout the reporting period[195]. Future Plans - The company plans to raise CNY 3.511 billion through a non-public issuance of A-shares to specific investors, pending regulatory approval[42]. - The company plans to achieve real estate sales area of 1.1 million square meters and contract sales amount of 15 billion yuan in 2017[102]. - The company aims to invest 12 billion yuan in real estate development and initiate construction of 2.3 million square meters in new projects[102]. Charitable Activities - The company organized five charitable donation activities totaling CNY 2.5 million aimed at supporting impoverished students and families[165]. - The company received multiple awards for its charitable activities, including the "2016 Annual Public Welfare Innovation Award" and "Best Public Welfare Partner Award" from the Shenzhen Lions Club[171].

深圳市中洲投资控股股份有限公司 2017 年第一季度报告正文 第一节 重要提示 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。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 谭华森 | 董事 | 因公 | 姚日波 | 公司负责人姚日波、主管会计工作负责人尹善峰及会计机构负责人(会计主 管人员)黄薇声明：保证季度报告中财务报表的真实、准确、完整。 证券代码：000042 证券简称：中洲控股 公告编号：2017-54 号 深圳市中洲投资控股股份有限公司 2017 年第一季度报告正文 1 深圳市中洲投资控股股份有限公司 2017 年第一季度报告正文 2 深圳市中洲投资控股股份有限公司 2017 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | ...

Financial Performance - Operating revenue for the current period reached CNY 2,051,032,127.50, a significant increase of 152.13% year-on-year[9] - Net profit attributable to shareholders was CNY 55,528,680.85, reflecting a dramatic increase of 1,651.72% compared to the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 69,332,371.69, up 1,981.17% year-on-year[9] - Basic earnings per share rose to CNY 0.0847, an increase of 1,233.28% compared to the same period last year[9] - The weighted average return on equity was 1.00%, an increase of 1.10 percentage points from the previous year[9] - The company reported a net cash flow from operating activities of CNY 2,444,151,405.82, up 420.67% year-to-date[9] Assets and Liabilities - Total assets increased by 24.88% to CNY 30,745,997,581.02 compared to the end of the previous year[9] - Other current assets increased by 392.25% to CNY 173,354.12 million, primarily due to new financial products and increased land consolidation payments[19] - Prepayments increased by 54.04% to CNY 915,695.11 million, driven by concentrated project launches in Huizhou, Shanghai, and Chengdu[19] - Other payables increased by 40.41% to CNY 202,798.25 million, attributed to the expanded scope of consolidation[21] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,153[14] - The largest shareholder, Shenzhen Zhongzhou Land Co., Ltd., holds 47.37% of the shares, amounting to 314,917,359 shares[14] Corporate Actions and Plans - The company plans to issue corporate bonds totaling no more than CNY 900 million, with the application materials submitted for review[27] - The company completed the first phase of its equity incentive plan, unlocking 9,070,400 shares, which is 1.36% of the total share capital[24] - The company plans to increase its shareholding by at least 1 million shares within 5 trading days starting from July 9, 2015[29] - The company will not allow the transfer of shares acquired in the latest issuance for 36 months from the date of listing[30] Operational Costs - The operating cost for the same period was CNY 393,662.85 million, which increased by 120.33%, outpacing revenue growth due to high land acquisition costs for real estate projects[22] - The company’s financial expenses rose by 51.44% to CNY 21,970.74 million due to increased financing scale and reduced capitalized interest[22] - The company’s management expenses increased by 53.53% to CNY 18,126.87 million, reflecting the expansion of operational scale and increased compensation expenses[22] Commitments and Compliance - The company has committed to not transferring its shares for six months after the completion of the shareholding increase[29] - The company will focus on real estate development and sales as its primary business platform, while other controlled enterprises will engage in different sectors such as industrial park construction and equity investment[30] - The company intends to gradually transfer undeveloped land use rights held by its controlled enterprises to itself or unrelated third parties within three years[30] - The company will take measures to avoid substantial competition with its controlled enterprises in real estate development and sales[30] - The company has established a priority right for itself to acquire land use rights if there is an intention from unrelated third parties[30] - The company will notify and transfer any competitive business opportunities to itself if they arise from its controlled enterprises[30] - The company has committed to compensating for any losses incurred due to violations of the commitments made by its controlling shareholders[30] - The company has committed to not engage in new businesses that compete with its existing operations[31] - The company has promised to compensate for any losses incurred due to violations of commitments by other enterprises[31] Investment Activities - The company reported no securities investments during the reporting period[33] - There were no derivative investments during the reporting period[34] - The company had no non-operating fund occupation by controlling shareholders and their affiliates during the reporting period[37] Investor Relations - The company conducted written inquiries and phone communications with investors on September 30, 2016[35] - The chairman of the company is Yao Ribao[38]

Financial Performance - The company achieved operating revenue of CNY 3,321,504,425.58, representing a year-on-year increase of 42.11%[20] - Net profit attributable to shareholders was CNY 26,458,711.20, a significant decrease of 93.67% compared to the previous year[20] - The net cash flow from operating activities was -CNY 633,854,731.75, reflecting a decline of 23.70% year-on-year[20] - The company's operating revenue for the reporting period was ¥3,321,504,425.58, representing a year-on-year increase of 42.11% compared to ¥2,337,271,026.87 from the previous year[29] - The company reported a net cash increase of ¥780,137,514.57, a significant improvement of 618.54% from a net decrease of ¥150,449,305.07 in the previous year[31] - The company reported a net profit for the first half of 2016 of CNY 36,371.16 million, representing a decrease of 23.46% compared to the previous year[82] - The company’s net profit for the first half of 2016 was RMB 20,324,571.75, a decrease of 95.1% from RMB 417,585,559.85 in the first half of 2015[169] - The company incurred total operating costs of RMB 3,181,351,021.97, an increase of 81.0% from RMB 1,755,072,603.61 in the first half of 2015[168] Real Estate Sales and Projects - The company sold 439,500 square meters of real estate, with sales revenue reaching CNY 5,103,000,000, marking increases of 149.86% and 184.13% respectively[28] - The contract sales completed 48.53% of the annual target, with major projects including CNY 1,245,000,000 from Chengdu Zhongzhou Jincheng Lakeside[28] - The increase in operating revenue was primarily due to higher real estate settlement income compared to the previous year[28] - The company achieved a real estate revenue of ¥3,169,334,154.36, a 39.49% increase year-on-year, while the gross margin decreased by 26.22%[39] - The total planned investment for Chengdu Zhongzhou Central City is CNY 133,349,000, with CNY 4,873,000 invested during the reporting period and a cumulative investment of CNY 124,815,000, indicating the project has been completed[67] - The total planned investment for Chengdu Zhongzhou Jincheng Lakeside is CNY 467,064,000, with CNY 9,346,000 invested during the reporting period and a cumulative investment of CNY 133,828,000, currently under construction and for sale[67] Financial Strategy and Capital Management - The company plans to raise up to ¥35.11 billion through a non-public issuance of A-shares, currently under review by the China Securities Regulatory Commission[34] - The company has implemented a capital operation plan to support rapid expansion through diversified financing channels[43] - The total amount of raised funds was ¥128,700,000, with ¥128,595,980 already utilized for repaying bank loans and supplementing working capital, leaving a balance of ¥1,040,200 in a regulatory account[54] - The company plans to issue corporate bonds with a total face value of no more than 900 million RMB, which has been approved by the board and shareholders[116] - The company has committed to using 200 million RMB of the bond proceeds to repay financial institution loans, with the remainder for working capital[120] Corporate Governance and Compliance - The company held 4 shareholder meetings, 7 board meetings, and 4 supervisory meetings during the reporting period, ensuring effective governance and oversight[78] - There were no significant litigation or arbitration matters during the reporting period[79] - The company has disclosed a total of 74 information announcements during the reporting period, ensuring transparency and compliance with regulations[78] - The company has not undergone any bankruptcy reorganization during the reporting period[80] Asset Management and Liabilities - Total assets at the end of the reporting period were CNY 29,289,006,995.60, an increase of 18.96% from the previous year[20] - The company's total assets and liabilities increased compared to the beginning of the year due to the acquisitions, but the impact on operating results remains uncertain[89] - The company's total equity attributable to shareholders was RMB 5,525,248,266.04, down from RMB 5,615,109,303.66, a decrease of approximately 1.6%[167] - The company’s total liabilities at the end of June 2016 were not explicitly detailed but are implied to be stable based on the equity changes[176] Human Resources and Corporate Culture - The company has adopted competitive compensation standards to attract and retain talent, enhancing its human resource capabilities[44] - The company emphasizes a corporate culture of "Openness, Progressiveness, Responsibility, and Efficiency" to enhance employee cohesion and execution[45] Future Outlook and Projections - The company expects a significant decline in net profit for the period from January to September 2016, projecting a decrease of 50% to 100% compared to the same period last year, with an estimated net profit of 0, down from 207,296,481.13 CNY[69] - The main reason for the expected decline in performance is attributed to higher land acquisition costs and lower gross margins from completed projects compared to the previous year[69] - The company’s financial performance indicates a need for strategic adjustments to improve profitability and shareholder returns moving forward[179]

Financial Performance - The company's operating revenue for Q1 2016 was ¥1,906,287,786.01, representing a decrease of 7.49% compared to the same period last year[8]. - Net profit attributable to shareholders was ¥44,774,632.28, a significant decline of 90.30% year-over-year[8]. - The net cash flow from operating activities was negative at ¥947,805,793.78, worsening by 50.76% compared to the previous year[8]. - Basic earnings per share dropped to ¥0.0683, down 92.91% from ¥0.9634 in the same quarter last year[8]. - The company reported a weighted average return on equity of 0.79%, a decrease of 12.27 percentage points from 13.07% in the previous year[8]. - Operating costs for the reporting period were 1,509.83 million yuan, an increase of 57.39% year-on-year, mainly due to high land acquisition costs for recognized real estate projects and lower gross margins[20]. - Management expenses for the reporting period reached 55.80 million yuan, an increase of 80.66% year-on-year, primarily due to increased salary expenses and share incentive plan costs[20]. - Financial expenses for the reporting period were 62.79 million yuan, an increase of 31.85% year-on-year, attributed to the expansion of financing scale leading to higher interest expenses[20]. - The company expects a cumulative net profit for the first half of 2016 to be between 0 and 20,905.23 million CNY, representing a decline of 50%-100% compared to the same period last year[26]. - Basic earnings per share are projected to be 0 CNY, down from 0.4365 CNY, indicating a decrease of 50%-100%[26]. - The significant decline in performance is attributed to high land acquisition costs and lower gross margins from completed projects compared to the previous year[26]. Asset and Shareholder Information - The total assets at the end of the reporting period increased by 12.81% to ¥27,775,184,659.30 compared to the end of the previous year[8]. - The total number of shareholders at the end of the reporting period was 21,359, with the largest shareholder holding 47.35% of the shares[13]. - The company did not engage in any repurchase transactions among its top shareholders during the reporting period[14]. - As of the end of the reporting period, prepaid expenses amounted to 47.70 million yuan, a decrease of 84.98% compared to the beginning of the year, primarily due to the completion of the acquisition of Chengdu Zhongzhou Investment Co., Ltd. which transferred prepaid equity and debt acquisition payments to inventory[18]. - Other receivables at the end of the reporting period reached 118.06 million yuan, an increase of 70.38% from the beginning of the year, mainly due to the expansion of the consolidated scope adding receivables and deposits[18]. - Other current assets increased to 1,129.93 million yuan, a rise of 220.85% compared to the beginning of the year, attributed to the addition of land sorting fees and public facilities in the new consolidated scope[18]. - Other payables at the end of the reporting period totaled 2,152.41 million yuan, an increase of 49.02% compared to the beginning of the year, primarily due to the increase in payables from the expanded consolidated scope[18]. Business Operations and Strategy - The company has expanded its consolidation scope by adding several new subsidiaries due to asset acquisitions, including Qingdao Zhongzhou Real Estate Co., Ltd. and Chengdu Zhongzhou Investment Co., Ltd.[17]. - The construction in progress at the end of the reporting period was 99.50 million yuan, an increase of 44.92% from the beginning of the year, mainly due to expenditures on the interior decoration of the Zhongzhou Marriott Hotel[18]. - The company is in the process of implementing a stock incentive plan, with commitments made by key personnel to ensure no unfair benefit transfer occurs and to adhere to the established compensation system[22]. - The company plans to gradually transfer undeveloped land use rights to Zhongzhou Holdings or unrelated third parties over the next three years[24]. - If substantial competition arises from business opportunities obtained from third parties, the company will notify Zhongzhou Holdings immediately[24]. - The company has committed to not transferring shares for three years following the completion of the share transfer agreement[25]. - The company will take measures to avoid substantial competition with Zhongzhou Holdings in the future[24]. Non-Operating Activities - Operating income from non-operating activities was 4.40 million yuan, a significant increase of 509.71% year-on-year, mainly due to penalties received from lease contract breaches[20]. - There are no securities or derivative investments reported during the period[27][28]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[31]. - The company has conducted multiple investor surveys and communications throughout the first quarter of 2016[29].

Dividend Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares, totaling 133,013,927.80 RMB (including tax) to shareholders[6]. - The total share capital at year-end was 665,069,639 shares, which will be the basis for the dividend distribution[6]. - A cash dividend of CNY 2.00 per share (including tax) was proposed, totaling CNY 133,013,927.80, which represents 33.16% of the net profit attributable to shareholders[126]. - The cash dividend payout ratio for 2015 was 100% of the profit distribution total[126]. - The company distributed a total of CNY 71,838,912.00 in cash dividends for the year 2014, which was 23.42% of the net profit for that year[126]. Financial Performance - The company's operating revenue for 2015 was CNY 5,047,823,963, representing a 65.26% increase compared to CNY 3,032,802,715 in 2014[20]. - Net profit attributable to shareholders for 2015 was CNY 401,177,291.16, an increase of 30.80% from CNY 305,618,650.68 in 2014[20]. - The net profit after deducting non-recurring gains and losses was CNY 409,683,593.11, up 37.17% from CNY 298,664,102.67 in 2014[20]. - The company's total assets increased by 51.87% to CNY 24,621,393,457 at the end of 2015, compared to CNY 16,196,337,801 at the end of 2014[20]. - The net assets attributable to shareholders rose by 69.98% to CNY 5,615,109,303 at the end of 2015, compared to CNY 3,299,726,582 at the end of 2014[20]. - The company reported a basic earnings per share of CNY 0.8377, a 30.81% increase from CNY 0.6381 in 2014[20]. - The weighted average return on equity increased to 11.61%, up 1.95 percentage points from 9.63% in 2014[20]. - The company's EBITDA increased by 45.96% year-on-year, reaching approximately 962.44 million RMB in 2015[192]. Market Expansion and Strategy - The company expanded its market presence, focusing on cities like Shenzhen, Huizhou, Chengdu, Shanghai, and Qingdao, while also entering the Hong Kong market[30]. - The company aims to diversify land resource acquisition and expand project development through proactive strategic expansion[36]. - The company has established a strategic development plan to enhance operational capabilities, including marketing strategies and cost control measures[35]. - The company plans to continue its strategy of "high turnover and scale expansion" to accelerate project acquisition and development[49]. - The company is focused on expanding its market presence through strategic acquisitions and new project developments[88]. Risk Management - The company reported a significant focus on risk factors including policy and management risks, which are detailed in the management discussion and analysis section[6]. - The company has faced risks related to policy changes in the real estate sector, which could impact operations if not managed effectively[112]. - Management risks are present due to the company's rapid expansion, necessitating ongoing adjustments to management practices and talent acquisition[113]. Acquisitions and Investments - The company completed several significant equity investments, including a 100% acquisition of Shanghai Shengxin Group and a 100% acquisition of Shenzhen Zhongzhou Property Management[88]. - The company acquired 100% equity of Shanghai Shengbo Real Estate Development Co., Ltd. for RMB 717.5 million and completed the transfer on May 25, 2015[71]. - The company also acquired 100% equity of EVER REALITY LIMITED and its subsidiary for a total of HKD 1.4 billion, with the transfer completed on November 30, 2015[72]. Financial Management - The net cash flow from operating activities improved by 48.37% to -RMB 846,828,689.25, mainly due to increased real estate sales collections[81]. - The net cash flow from financing activities increased by 40.62% to RMB 2,061,898,780.71, resulting from higher bank borrowings and bond issuances[81]. - Cash and cash equivalents increased by 570.12% to RMB 1,119,402,957.36, reflecting improved cash management[81]. - The company reported a total of 2,286,048 square meters of available rental space across various projects, with a significant portion in residential and commercial properties[57]. - The company has a total bond balance of RMB 130 million with an interest rate of 6.30%[172]. Corporate Governance - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its legal representatives[4]. - The company has engaged Ruihua Certified Public Accountants for auditing services during the reporting period[19]. - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[135]. - The company has no ongoing major non-equity investment situations[91]. Future Outlook - The company plans to complete a real estate sales area of 645,300 square meters and a contract sales amount of 10.516 billion yuan in 2016[106]. - The company aims to maintain a development investment of 5.493 billion yuan in 2016, focusing on high turnover and efficiency[106]. - The strategic focus includes deepening core areas in the Pearl River Delta, Yangtze River Delta, and central-western regions while increasing project reserves[107]. - The company plans to enhance marketing capabilities by innovating marketing channels and experiences, aiming for rapid and high-margin sales in first-tier cities and accelerating inventory turnover in second and third-tier cities[108]. Compliance and Regulations - The company has ongoing commitments to adhere to regulations set by securities regulatory bodies regarding performance compensation measures[128]. - The company did not face any suspension or termination of listing issues following the annual report disclosure[149]. - There were no violations regarding external guarantees during the reporting period[167].

Financial Performance - Operating revenue for the period reached CNY 809.09 million, a 109.61% increase year-on-year[7] - Net profit attributable to shareholders was CNY -4.19 million, a decrease of 118.21% compared to the same period last year[7] - The company reported a basic earnings per share of CNY -0.0087, a decrease of 118.12% year-on-year[7] - The company's total revenue for the first three quarters of 2015 was CNY 3,150.75 million, representing an increase of 81.04% year-on-year, primarily due to the revenue recognition from the completion of the Zhongzhou Holding Financial Center project[19] - The operating costs for the same period were CNY 1,786.70 million, an increase of 112.31% year-on-year, in line with the increase in real estate revenue[19] - The company reported a significant increase in investment income, which reached CNY 26.54 million, up 217.42% year-on-year, attributed to a substantial rise in net profits from joint ventures[19] - The company anticipates a significant change in net profit for the year, potentially resulting in a loss compared to the same period last year[27] Assets and Liabilities - Total assets increased by 55.23% to CNY 25.17 billion compared to the end of the previous year[7] - As of the end of the reporting period, cash and cash equivalents amounted to CNY 3,442.26 million, an increase of 201.42% compared to the beginning of the year, primarily due to funds raised from the public issuance of corporate bonds and the implementation of the equity incentive plan[16] - The company’s investment properties increased to CNY 1,991.93 million, a significant rise of 316.43% from the beginning of the year, due to the completion of the Zhongzhou Holding Financial Center project[16] - The company’s long-term borrowings increased to CNY 741.64 million, a rise of 87.76% compared to the beginning of the year, primarily due to new secured borrowings[18] - The company’s pre-receivables reached CNY 5,483.99 million, an increase of 55.23% compared to the beginning of the year, mainly due to the consolidation of a newly acquired subsidiary[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,475[11] - The largest shareholder, Shenzhen Zhongzhou Real Estate Co., Ltd., holds 28.28% of the shares[11] - The weighted average return on equity increased by 2.29 percentage points to 11.88% year-to-date[7] Acquisitions and Investments - The company completed the acquisition of 100% equity in Shanghai Shengbo Real Estate Development Co., Ltd. for CNY 717.5 million[15] - The company also acquired 100% equity in Shenzhen Zhongzhou Property Management Co., Ltd. for CNY 3.6 million[15] Corporate Actions and Plans - The company plans to issue corporate bonds with a total face value of no more than CNY 1.3 billion, which has been approved by the China Securities Regulatory Commission[22] - The first phase of the equity incentive plan was implemented, granting 9.3089 million restricted shares at a price of CNY 10.56 per share[22] - The company plans to gradually dispose of certain controlled enterprises that do not engage in real estate development and sales[25] Communication and Commitments - The company engaged in multiple investor communications, discussing strategic planning and project progress with institutions like Changjiang Securities and Guosen Securities[30] - The company has been actively communicating with individual investors regarding their concerns during the reporting period[30] - The company committed to not changing its main business or registered location for three years following the share transfer[26] - The company is adhering to commitments made to avoid competition with related enterprises[25] - The company has a priority right to acquire assets from related parties in case of substantial competition[25] Cash Flow - The net cash flow from operating activities was CNY -762.21 million, showing a 7.78% improvement year-to-date[7] Other Investments - There were no securities investments during the reporting period[28] - The company did not hold any equity in other listed companies during the reporting period[28] - There were no derivative investments during the reporting period[29]

Financial Performance - The company's operating revenue for the first half of 2015 was CNY 2,326,758,622.97, representing a 72.95% increase compared to CNY 1,345,303,979.50 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 418,781,307.94, up 49.01% from CNY 281,040,551.29 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 424,606,004.59, reflecting a 55.77% increase compared to CNY 272,581,866.60 in the previous year[20]. - The basic earnings per share increased to CNY 0.8744, a rise of 49.01% from CNY 0.5868 in the same period last year[20]. - The total operating revenue for the company was ¥2,326,702,887.97, with a gross margin of 52.11%, and a year-on-year revenue increase of 72.95%[47]. - The company reported a total operating cost of RMB 1,741,556,666.13 for the first half of 2015, which is an 80% increase from RMB 966,592,200.31 in the same period of 2014[128]. - The company reported a total comprehensive income of 418,781,307.94 RMB for the first half of 2015, contributing to an increase in equity attributable to shareholders[133]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 20,528,344,838.09, which is a 26.75% increase from CNY 16,196,337,801.76 at the end of the previous year[20]. - The total liabilities as of June 30, 2015, amounted to RMB 16,880,599,939.70, an increase of 31% from RMB 12,895,535,299.31 at the end of 2014[126]. - The company's current assets reached RMB 16.58 billion, up from RMB 15.10 billion at the end of 2014, indicating a growth of about 9.8%[123]. - The inventory value as of June 30, 2015, was RMB 14.95 billion, compared to RMB 13.49 billion at the end of 2014, reflecting an increase of approximately 10.8%[123]. - The total equity attributable to shareholders reached RMB 3,646,668,978.39, up from RMB 3,299,726,582.45, marking a 10.5% increase[126]. Cash Flow - The net cash flow from operating activities was CNY -501,880,636.06, showing a slight improvement of 0.36% compared to CNY -503,671,382.17 in the same period last year[20]. - The total cash inflow from financing activities was 2,347,575,300.00 RMB, compared to 2,441,814,900.00 RMB in the first half of 2014, indicating a decrease of approximately 3.85%[131]. - The net cash flow from investing activities was -10,802,705.23 RMB, worsening from -4,305,366.37 RMB year-on-year[131]. - The total cash and cash equivalents at the end of June 2015 were 988,755,876.98 RMB, down from 1,949,758,603.54 RMB at the end of June 2014, a decrease of approximately 49.32%[131]. Investment and Financing Activities - The company plans to issue up to RMB 1.2 billion in medium-term notes, which has been approved by the board and shareholders[31]. - A non-public offering of A-shares is planned to raise RMB 2 billion, with the issuance price adjusted to RMB 11.31 per share[33]. - The company intends to publicly issue bonds with a total face value of up to RMB 1.3 billion, with the application already accepted by the China Securities Regulatory Commission[34]. - The company invested ¥734,325,750.00 during the reporting period, a decrease of 36.24% compared to the previous year[49]. Project Development - The total sales area of real estate projects reached 175,900 square meters, with sales amounting to RMB 1.796 billion, representing year-on-year increases of 241.62% and 155.36%, respectively[28]. - The company is focusing on expanding its real estate development projects across various regions, including Chengdu and Shenzhen, to enhance its market presence[60]. - The company has multiple ongoing projects, including the Shanghai Junting project with a total investment of 436.76 million RMB and the Shenzhen Sungang Logistics project with an investment of 662.83 million RMB, both in the construction phase[63]. Governance and Compliance - The company held 4 shareholder meetings and 6 board meetings during the reporting period, ensuring compliance with governance standards[72]. - The company has maintained a strict governance structure and has published 64 information disclosure announcements, ensuring transparency[72]. - The financial report was approved by the board of directors on August 27, 2015[176]. - The financial statements of the company are prepared based on the going concern assumption and comply with the relevant accounting standards issued by the Ministry of Finance[177]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,173[106]. - Shenzhen Zhongzhou Real Estate Co., Ltd. holds 28.83% of the shares, totaling 138,082,700 shares, which are pledged[106]. - The company has a total share capital of 478,926,080 shares, with 99.97% being unrestricted shares[106]. Risks and Contingencies - The company emphasizes that forward-looking statements in the report do not constitute a substantive commitment to investors, urging them to be aware of investment risks[5]. - There are ongoing litigation matters involving a joint development project with a disputed amount of approximately 56.56 million RMB[73]. - The company has no risks of delisting due to legal violations during the reporting period[100].

Financial Performance - The company's operating revenue for Q1 2015 was CNY 2,053,150,298.84, representing a 108.63% increase compared to CNY 984,126,472.14 in the same period last year[8]. - Net profit attributable to shareholders was CNY 461,398,797.73, up 100.62% from CNY 229,989,715.25 year-on-year[8]. - Basic earnings per share increased to CNY 0.9634, a 100.62% rise from CNY 0.4802 in the same period last year[8]. - The company's operating revenue for the reporting period was CNY 2,053.15 million, an increase of 108.63% compared to the same period last year, primarily due to the completion and settlement of the Zhongzhou Holding Financial Center project[16]. - Operating costs for the reporting period reached CNY 952.06 million, up 97.55% year-on-year, attributed to the increase in real estate settlement revenue[16]. - The company's tax expenses for the reporting period were CNY 172.81 million, an increase of 123.53% year-on-year, driven by higher profits from increased real estate settlement revenue[17]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -623,791,931.85, worsening by 243.09% compared to CNY -181,816,775.95 in the previous year[8]. - Total assets at the end of the reporting period were CNY 16,230,454,221.48, a slight increase of 0.21% from CNY 16,196,337,801.76 at the end of the previous year[8]. - The net assets attributable to shareholders rose to CNY 3,761,125,380.18, reflecting a 13.98% increase from CNY 3,299,726,582.45 at the end of the previous year[8]. - The prepayments at the end of the reporting period were CNY 2,116.35 million, a decrease of 40.07% from the beginning of the year, primarily due to the settlement income from the Zhongzhou Holding Financial Center project[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,927[10]. - The top shareholder, Shenzhen Zhongzhou Real Estate Co., Ltd., held 28.83% of the shares, amounting to 138,082,700 shares[11]. Investments and Expenses - The company reported a significant increase in investment properties, which rose by 267.24% to CNY 175,665.20 million due to the completion of the financial center project[15]. - The company’s construction in progress surged by 9940.45% to CNY 95,674.58 million, attributed to the commencement of renovations for the Marriott Hotel[15]. - The company's financial expenses amounted to CNY 47.61 million, a significant increase of 127.93% compared to the previous year, mainly due to increased interest expenses from higher loan principal[17]. - Sales expenses for the reporting period were CNY 27.04 million, an increase of 224.11% compared to the same period last year, resulting from increased marketing costs due to more projects for sale[16]. - The company's employee compensation payable at the end of the reporting period was CNY 39.52 million, a decrease of 44.69% from the beginning of the year, due to the payment of last year's performance bonuses[16]. Corporate Governance - The company has committed to not engaging in new businesses that compete with its existing operations for a period of five years, ensuring compliance with competitive regulations[20]. - The company does not hold any securities investments or derivatives during the reporting period[21][24]. Other Transactions - The company signed a share transfer agreement to sell 100% of its subsidiary, Huizhou Kangwei Investment Development Co., Ltd., for CNY 174.69 million, although the transaction has not progressed substantially yet[18].

Financial Performance - The company reported a significant increase in total assets, reaching 1.2 billion RMB, reflecting a growth of 15% compared to the previous year[21]. - The net profit attributable to shareholders for the year was 200 million RMB, representing a year-on-year increase of 10%[21]. - The company's operating revenue for 2014 was CNY 3,032,802,715.76, representing a 37.05% increase compared to CNY 2,212,983,840.34 in 2013[22]. - The net profit attributable to shareholders decreased by 24.63% to CNY 305,618,650.68 from CNY 405,502,224.15 in the previous year[22]. - The net cash flow from operating activities was negative at CNY -1,625,124,896.17, a decline of 1,080.44% compared to CNY 165,754,440.62 in 2013[22]. - The total assets at the end of 2014 reached CNY 16,196,337,801.76, a significant increase of 102.50% from CNY 7,998,173,391.93 in 2013[22]. - The company's total revenue for 2014 reached ¥3,032,381,999.49, a 52.47% increase compared to ¥1,737,530,866.81 in 2013[61]. - The revenue from real estate sales was ¥2,745,865,953.89, accounting for 91.76% of the total revenue, with a year-on-year growth of 61.88%[61]. - The gross profit margin for real estate sales decreased to 41.94%, down from 42.76% in the previous year[61]. - The company reported a net profit margin of approximately 18% based on the net profit and operating income figures[157]. Market Expansion and Strategy - The company has expanded its market presence, with new projects launched in three major cities, contributing to a 20% increase in sales volume[21]. - The company anticipates a revenue growth of 12% for the next fiscal year, driven by new product launches and market expansion strategies[21]. - The company aims for a compound annual growth rate of 50% in contract sales over the next three years as part of its strategic development plan[33]. - The company plans to expand its real estate investment scale and has increased various bank borrowings to support this strategy[59]. - The company aims to enhance operational management and increase economic efficiency as part of its three-year strategic development goals[88]. - The company intends to strengthen sales efforts to ensure the achievement of sales targets through market research and effective marketing management[93]. Investments and Acquisitions - The company completed a strategic acquisition of a local competitor, enhancing its market share by 5%[21]. - The company acquired 100% equity of Huizhou Zhongzhou Real Estate, Kangwei Investment, and Haoheng Real Estate, as well as Chengdu Galaxy Bay[37]. - The company made external investments totaling ¥2,493,265,043.25 during the reporting period, a significant increase from zero in the previous year[71]. - The company acquired 100% equity of Huizhou Zhongzhou Kangwei Investment for 53.27 million yuan, which is expected to increase land reserves and stabilize development[123]. - The acquisition of 100% equity of Huizhou Zhongzhou Real Estate was completed for 1,038.08 million yuan, contributing a net profit impact of -0.45%[123]. - The company also acquired 5% equity of Haoheng Real Estate for 60.05 million yuan, with a net profit contribution of 36.92%[123]. Risk Management and Compliance - The company emphasizes the importance of risk management in its future plans, highlighting potential market volatility[12]. - The company has committed to maintaining transparency and accuracy in its financial reporting, ensuring compliance with regulatory standards[4]. - The company has no violations regarding external guarantees during the reporting period[140]. - The company has no non-operating related party debts during the reporting period[131]. Human Resources and Governance - The company has restructured its human resources management system to improve competitiveness in the market[40]. - The company has implemented a talent development plan to attract and retain skilled professionals, enhancing its competitive edge[69]. - The company reported a total of 1,217 employees, with 412 in real estate business, accounting for 33.9% of the total[181]. - Key talent attrition was 58 individuals, representing 16.3% of the total key talent, which is considered manageable and did not significantly impact operations[180]. - The company’s governance structure includes a mix of internal and external directors, ensuring diverse perspectives in decision-making[169]. Shareholder Relations and Dividends - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares to all shareholders, based on a total share capital of 478,926,080 shares[5]. - The company’s profit distribution policy has been revised to ensure transparency and protect minority shareholders' rights[104]. - The company held 11 investor meetings throughout 2014 to discuss operational status and future strategies[112]. - The company has a three-year shareholder dividend return plan for 2014-2016, which was approved in the fifth extraordinary shareholders' meeting[193]. Legal and Regulatory Matters - The company is involved in a legal dispute regarding the "Great Wall Shengshi Jiayuan" project, with a claim for 56,555,343 yuan from the co-developer, which was dismissed in the first instance[117]. - The company has no significant transactions or penalties during the reporting period[142][146]. Financial Management and Audit - The audit firm, Ruihua Certified Public Accountants, has been retained for 2 years with an audit fee of 950,000 RMB[145]. - The company’s financial management is overseen by the finance director, Jia Shuai, who has been in position since January 2009[170].