Financial Performance - The company's operating revenue for 2019 was CNY 14,665,288,591.27, representing a 43.64% increase compared to the previous year[27]. - The net profit attributable to shareholders for 2019 was CNY 1,236,193,764.65, reflecting a 58.17% increase year-over-year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,182,096,155.68, which is a 50.54% increase from the previous year[27]. - Basic earnings per share for 2019 increased to CNY 0.6042, up 44.44% from CNY 0.4183 in 2018[30]. - Total assets at the end of 2019 reached CNY 40,313,371,788.43, marking a 27.01% increase from the previous year[30]. - The net assets attributable to shareholders at the end of 2019 were CNY 9,590,922,213.22, which is a 10.29% increase compared to 2018[30]. - The overall gross profit margin improved to 23.39%, with a cost-to-profit ratio of 13.97%, increasing by 1.74 and 2.01 percentage points respectively[66]. - The company reported a total revenue of 649,356.89 million CNY with a gross profit of 188,629.09 million CNY, resulting in a gross margin of 41.64%[103]. - The total revenue for the reporting period reached ¥11,235,358,586.04, representing a year-on-year increase of 40.46% compared to ¥7,999,246,202.32[134]. Dividend Distribution - The company plans to distribute a cash dividend of 3.8 RMB per 10 shares, totaling 710.0473 million RMB based on a total share capital of 1,868,545,434 shares[7]. - The company has maintained a consistent cash dividend policy, with no adjustments made during the reporting period, ensuring transparency and stability in shareholder returns[198]. Business Operations and Stability - The company has not reported any changes in its main business since its listing, indicating stability in operations[25]. - The company has engaged Tianjian Accounting Firm for auditing, with the signing accountants being Li Lian and Xia Shanshan[26]. - The company has developed and operated over 580,000 square meters of high-quality projects since its inception in 1988[41]. - The company actively promotes standardized construction and new technologies to enhance operational efficiency in urban development projects[41]. - The company is the only municipal state-owned enterprise with full industry chain capabilities in development, construction, operation, and service[48]. Urban Construction and Development - The company's urban construction business achieved a production value exceeding 10 billion RMB for the first time during the reporting period[43]. - The company reported a total of 2,958 roads and 874 bridges under maintenance, covering a total length of 2,109.4 kilometers[42]. - The company acquired three land parcels in Dongguan, Suzhou, and Shenzhen, with the land investment amount reaching a historical high during the reporting period[45]. - The company’s urban construction business has seen a significant transformation and upgrade, enhancing project management levels and increasing the number of EPC and entrusted construction projects[43]. - The company achieved a revenue of 9.719 billion CNY in the urban construction segment, a year-on-year increase of 44.31%[65]. Project Management and Expansion - The company completed its first phase of the smart maintenance platform and established a standardized operation manual for maintenance, enhancing operational efficiency[72]. - The company reported a total of 304.37 billion yuan in contract value for ongoing projects at the end of the reporting period, with 141 projects under construction[78]. - The company has expanded its property management area by 3.14 million square meters, reflecting growth in its service capabilities[72]. - The company has a total of 13 real estate development projects under construction or newly initiated, covering a total land area of 547,809 square meters and a planned construction area of 2,851,773 square meters[183]. Safety and Quality Management - The company has implemented a safety management system with no major accidents reported throughout the year, enhancing overall safety standards[71]. - The company has implemented a comprehensive quality management system certified by ISO9001 and ISO14001, enhancing quality credibility[89]. - The company actively promoted green construction and innovative quality management measures, improving work efficiency[89]. - The company has focused on enhancing the quality of its projects through awards and recognition in safety and construction standards[85]. Research and Development - Research and development expenses increased significantly by 505.76% to ¥113,104,554.28, driven by increased personnel and project investments[139]. - The number of R&D personnel rose by 22.80% to 237, while R&D expenses as a percentage of operating income increased to 0.77%[141]. Challenges and Future Plans - The COVID-19 pandemic has posed challenges to the company's operations, affecting material costs and project timelines, prompting a strategic focus on market expansion and cost control[189]. - The company plans to actively participate in major infrastructure projects, including the "New Era Ten Cultural Facilities" and various public works[180]. - The company aims to enhance market expansion capabilities, focusing on areas such as Longhua, Futian, and Longgang, while also targeting new regions like Yantian and Guangming[180]. - The company is committed to improving operational management by leveraging platforms like the Academician Workstation and exploring technologies such as big data and AI[180].

Financial Performance - Operating revenue for the period was CNY 2.14 billion, representing a growth of 81.52% year-on-year[8]. - Net profit attributable to shareholders was CNY 8.76 million, a significant increase of 129.42% compared to the same period last year[8]. - Basic earnings per share were CNY 0.0047, up 129.56% compared to the same period last year[8]. - The company reported a total profit of ¥45,459,970, marking a 36.00% increase year-on-year, attributed to higher construction income[24]. - The company achieved operating revenue of CNY 1.343 billion as of September 30, 2019, with a subscription amount of CNY 8.214 billion[35]. - The total revenue for the reporting period reached 3.45 billion CNY, with a property management fee collection rate of 93.23% and customer satisfaction at 97.2%[49]. - The company reported a total revenue of 1.2 billion RMB for the year 2018, representing a year-over-year increase of 15%[64]. - The net profit for 2018 was 300 million RMB, which is a 10% increase compared to the previous year[64]. - The total operating revenue for the current period is CNY 6,064,516,521.69, an increase of 30.6% compared to CNY 4,642,634,999.51 in the previous period[128]. - The net profit for the current period is CNY 2,054,107.92, a significant recovery from a net loss of CNY 16,643,375.52 in the previous period[124]. Assets and Liabilities - Total assets reached CNY 39.16 billion, an increase of 23.38% compared to the end of the previous year[8]. - Total current assets increased to CNY 34.72 billion as of September 30, 2019, up from CNY 27.90 billion at the end of 2018, representing a growth of approximately 24.8%[93]. - Total liabilities reached CNY 30.33 billion, compared to CNY 23.00 billion in the previous year, representing an increase of approximately 31.9%[96]. - Total liabilities increased to CNY 13,772,072,582.35 from CNY 12,232,365,855.04, reflecting a growth of approximately 12.6%[106]. - The company's equity attributable to shareholders totaled CNY 8,696,044,657.79, with total equity amounting to CNY 8,737,820,778.27[168]. - The company reported accounts receivable of CNY 1,993,711,089.32, indicating stable receivables management[161]. - The company has a long-term loan liability of CNY 6,468,580,000.00, reflecting its financing structure[164]. Cash Flow - The company's cash and cash equivalents increased by 113.19% to ¥964,700,000 due to an increase in pre-sale funds from real estate projects[22]. - The cash inflow from operating activities reached ¥13,528,244,869.65, a significant increase of 75.5% compared to ¥7,712,355,528.87 in the previous period[144]. - The net cash flow from operating activities was ¥4,739,690,912.59, recovering from a negative cash flow of ¥718,103,606.20 in the previous period[147]. - The total cash inflow from financing activities was ¥5,606,167,777.75, down from ¥6,430,000,000.00, reflecting a decrease of 12.9%[150]. - The cash and cash equivalents at the end of the period totaled ¥9,510,988,309.19, an increase of 75.4% from ¥5,433,243,673.65 in the previous period[150]. Research and Development - Research and development expenses surged by 1274.04% to ¥18,201,510, reflecting increased investment in R&D activities[24]. - The company obtained 2 authorized patents and filed 22 new patent applications, all of which are under review[35]. - Research and development expenses surged to CNY 129,904,008.66, up from CNY 4,485,182.21, indicating a substantial increase in investment in innovation[110]. - The company has allocated 100 million RMB for research and development in 2019, focusing on innovative technologies[66]. Market Expansion and Projects - The number of ongoing projects in the urban construction sector reached 89, with a total contract value of ¥308,500,000, representing a 69.61% year-on-year growth[25]. - The company successfully won several new EPC contracts, indicating an expansion of its influence in urban construction projects[26]. - The company is focused on expanding its market presence through ongoing and new construction projects[34]. - The company has plans for market expansion with new projects in Guangzhou and Nanning, expected to be completed by 2021[43]. - The company is exploring the "long-term rental apartments + co-working" model to capture market opportunities in rapidly growing sectors[49]. Awards and Recognition - The company was awarded 1 provincial and 8 municipal engineering excellence awards during the reporting period[34]. - The company received the first prize and third prize in the National Municipal Engineering Science and Technology Award for 2018[35]. - The company has made advancements in technology, with several innovative construction methods recognized by industry awards[35]. Risk Management - The company organized comprehensive risk assessments covering various operational risks, including financial and project risks, to enhance risk management capabilities[54]. - The company conducted internal control training to improve risk awareness and management systems across all levels[54]. - The company emphasized internal supervision and conducted audits to ensure compliance and effectiveness of internal controls[54]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,353[12]. - The largest shareholder, Shenzhen State-owned Assets Supervision and Administration Commission, held 23.47% of the shares[12]. - The company did not engage in any repurchase transactions during the reporting period[17].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 3,923,890,960.69, representing a 13.30% increase compared to CNY 3,463,351,529.44 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was CNY 240,515,517.45, an increase of 17.73% from CNY 204,299,175.21 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 181,339,592.11, showing a decrease of 14.91% compared to CNY 213,124,659.35 last year[25]. - The net cash flow from operating activities was CNY 311,355,052.51, a significant recovery from a negative cash flow of CNY -1,996,553,071.77 in the previous year[25]. - The basic earnings per share were CNY 0.1287, up 17.75% from CNY 0.1093 in the previous year[25]. - Total revenue for the company reached 101,186.72 million CNY, with a gross profit of 32,404.38 million CNY, resulting in a gross margin of 47.97%[80]. - The company reported a total of 2,085,009.51 million CNY in main business income, with a main business profit of 39,427.06 million CNY[80]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 33,841,104,320.30, reflecting a 6.62% increase from CNY 31,741,153,852.99 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were CNY 8,585,547,200.44, a decrease of 1.27% from CNY 8,696,044,657.79 at the end of the previous year[25]. - Cash and cash equivalents increased by ¥1,167,766,458.80, influenced by the combined effects of operating, investing, and financing cash flows[100]. - Short-term borrowings rose to ¥2,665,695,555.53, representing 7.88% of total liabilities, due to increased funding needs[106]. - Pre-receipts from sales increased to ¥4,924,892,304.74, accounting for 14.55% of total liabilities, reflecting a rise in pre-sale funds[106]. Market and Project Development - The company achieved stable growth in operating revenue, new contract value, and profit scale during the reporting period[34]. - The company has developed over 5.5 million square meters of high-quality projects since 1988, with a focus on cities like Shenzhen, Guangzhou, and Shanghai[34]. - The company has a significant presence in urban service operations, managing over 2,000 million square meters of property across various cities[34]. - The company has successfully completed the first phase of the Shenzhen River Basin governance project and is progressing with the second phase of the project[54]. - The company has initiated construction on 15 out of 17 plots in the Luohu urban renewal project, with nine plots in the foundation construction phase[95]. Strategic Initiatives - The company aims to enhance its operational capabilities and market expansion through the "Big Construction, Big Management, Big Renovation" strategy[50]. - The company is actively pursuing market opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to leverage national strategies for growth[50]. - The company is focusing on brand building and has launched several promotional materials to enhance its visibility and reputation[55]. - The company has made strategic adjustments to its organizational structure to improve operational efficiency and governance[51]. - The company is investing 100 million RMB in R&D for new technology aimed at improving operational efficiency by 25%[192]. Risk Management and Compliance - The company has detailed potential risks and corresponding countermeasures in the report, emphasizing its commitment to transparency and risk management[7]. - The company did not report any significant new strategies or market expansions during the reporting period[156]. - The company reported no significant litigation or penalties during the reporting period, indicating a stable legal standing[134]. - The company has no violations regarding external guarantees during the reporting period[163]. Innovation and Technology - The company has established a BIM center to enhance technical capabilities and is collaborating with various universities on research projects[55]. - A total of 32 patents were authorized, with 24 new patent applications currently under review, showcasing the company's focus on technological innovation[69]. - The company is actively involved in developing standards related to BIM and IoT technologies[75]. - The company has increased its investment in machinery and technology innovation capabilities, upgrading its business qualifications and expanding its project information technology coverage[59]. Community and Environmental Responsibility - The company has invested 95.28 thousand RMB in poverty alleviation efforts, helping 222 registered impoverished households to escape poverty[170]. - The company has developed a collective industry in the New Long Village, generating an additional income of 120,000 RMB annually through fish farming partnerships[169]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities and complies with relevant environmental laws[165].

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,341,216,858.33, representing a 34.05% increase compared to ¥1,000,560,214.31 in the same period last year[8]. - Net profit attributable to shareholders was ¥63,793,263.55, up 17.49% from ¥54,298,015.75 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥59,502,516.13, an increase of 11.41% compared to ¥53,408,092.53 in the previous year[8]. - The basic earnings per share for the period was ¥0.0444, reflecting a 17.46% increase from ¥0.0378 in the same period last year[8]. - The company reported a significant increase in other comprehensive income, which rose by 34.43% to 34,751.56 million due to the increase in stock prices[20]. - The company reported a total of 27,903,791,758.86 CNY in current assets, indicating a strong liquidity position[125]. Assets and Liabilities - The total assets at the end of the reporting period were ¥31,988,148,159.30, a 0.78% increase from ¥31,741,153,852.99 at the end of the previous year[8]. - Total current assets increased to ¥28,038,053,573.63 from ¥27,903,791,758.86, reflecting a growth of approximately 0.48%[77]. - Total liabilities amounted to ¥23,097,769,278.27, slightly up from ¥23,003,333,074.72, showing an increase of approximately 0.41%[80]. - Long-term borrowings increased significantly to ¥8,334,780,000.00 from ¥6,468,580,000.00, representing a rise of about 28.87%[80]. - The company's total liabilities decreased to CNY 9,139,380,069.83 from CNY 12,232,365,855.04, a reduction of 25.5%[93]. Cash Flow - The net cash flow from operating activities was -¥10,446,304.96, showing a significant improvement of 73.34% from -¥39,181,935.76 in the same period last year[8]. - Cash and cash equivalents at the end of the period totaled ¥5,305,216,735.49, up from ¥4,021,675,321.78[115]. - The company raised ¥2,280,000,000.00 through borrowings during the financing activities[115]. - The net cash flow from financing activities was 1,456,180,293.45 CNY, an increase from 1,212,284,519.73 CNY in the previous period, indicating improved financing conditions[121]. Operational Highlights - The company has undertaken 11 new projects during the reporting period, with a total contract value of 6,789.62 million, contributing to a total of 66 ongoing projects valued at 22,569.00 million[23]. - The company has focused on upgrading its capabilities and qualifications, enhancing its brand through various engineering contracts[23]. - The company is actively promoting urban renewal projects and has established an industrial research working group[32]. - The company has been awarded 1 provincial engineering award and 5 municipal engineering awards during the reporting period, reflecting its commitment to quality in construction[28]. Compliance and Governance - The company has proposed a financial budget report for 2019, indicating a strategic focus on financial planning and resource allocation[63]. - The company has no reported violations regarding external guarantees during the reporting period, ensuring compliance with regulatory standards[69]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, indicating financial integrity[70]. - The company has implemented a comprehensive internal control system to enhance management efficiency and risk assessment[51]. Research and Development - The company applied for 3 patents during the reporting period, including 1 invention patent and 2 utility model patents[31]. - Research and development expenses increased to CNY 5,456,194.57, up 45.4% from CNY 3,754,821.74 in the previous period[94].

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,341,216,858.33, representing a 34.05% increase compared to ¥1,000,560,214.31 in the same period last year[8]. - The net profit attributable to shareholders for Q1 2019 was ¥63,793,263.55, up 17.49% from ¥54,298,015.75 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥59,502,516.13, an increase of 11.41% from ¥53,408,092.53 year-on-year[8]. - The basic earnings per share for Q1 2019 was ¥0.0444, reflecting a 17.46% increase from ¥0.0378 in the same period last year[8]. - The company reported a significant increase in tax and additional charges, which rose by 240.73% year-on-year to 7,956.68 million RMB due to increased land value-added tax provisions[20]. - The company reported a 44.43% increase in income tax expenses, amounting to 3,311.83 million RMB, reflecting higher profits[20]. - The company reported a net profit of -8,836,665.09, compared to a net profit of 7,063,305.63 in the previous period, indicating a significant decline in profitability[102]. - Total comprehensive income amounted to -8,836,665.09, down from 7,063,305.63 in the prior period, reflecting a substantial decrease in overall financial performance[105]. Assets and Liabilities - The total assets at the end of the reporting period were ¥31,988,148,159.30, a 0.78% increase from ¥31,741,153,852.99 at the end of the previous year[8]. - Total current assets amounted to ¥28,038,053,573.63, an increase from ¥27,903,791,758.86[74]. - Total non-current assets increased to ¥3,950,094,585.67 from ¥3,837,362,094.13, reflecting a growth of approximately 2.77%[74]. - Total liabilities amounted to ¥23,097,769,278.27, slightly up from ¥23,003,333,074.72, showing a marginal increase of 0.41%[77]. - Total current liabilities decreased to ¥14,627,707,104.29 from ¥16,466,946,497.90, a reduction of approximately 11.19%[77]. - Long-term borrowings increased significantly to ¥8,334,780,000.00 from ¥6,468,580,000.00, representing a growth of about 28.88%[77]. - The total liabilities decreased to ¥9,139,380,069.83 from ¥12,232,365,855.04, a reduction of 25.5%[90]. - Total equity reached ¥8,890,378,881.03, an increase from ¥8,737,820,778.27, reflecting a growth of approximately 1.75%[80]. Cash Flow - The net cash flow from operating activities for Q1 2019 was -¥10,446,304.96, an improvement of 73.34% compared to -¥39,181,935.76 in the same period last year[8]. - Cash flow from operating activities showed a net outflow of -10,446,304.96, an improvement from -39,181,935.76 in the previous period, indicating better cash management despite ongoing losses[109]. - The company generated cash inflow from sales of goods and services amounting to 1,722,946,047.40, compared to 1,546,893,963.37 in the prior period, showing a year-over-year increase[106]. - Cash outflows for operating activities totaled 2,027,444,850.60, down from 2,165,143,445.26 in the previous period, suggesting improved cost control measures[109]. - The cash and cash equivalents at the end of the period stood at 5,305,216,735.49, up from 4,021,675,321.78 in the previous period, reflecting a stronger liquidity position[111]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,637, with the largest shareholder holding 23.47% of the shares[13]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[16]. Projects and Operations - The company successfully secured 11 new projects during the reporting period, with a total contract value of 6.79 billion RMB, contributing to a total of 66 ongoing projects valued at 22.569 billion RMB[23]. - The company has focused on upgrading its business capabilities and has expanded its project portfolio, including various engineering contracts such as PPP and EPC[23]. - The company is advancing urban renewal projects in Shenzhen, including the Huafu Industrial Zone and the Yutong Building[31]. - The company is planning to accelerate the construction of the Longpu Smart Park project and conduct research on industry-city integration[31]. - The company is involved in the restructuring of the Shanghai Caohejing Development Zone, which covers an area of 377 acres and has a building area of 720,000 square meters[44]. Management and Governance - The company has implemented a comprehensive risk management assessment for 2018 and developed targeted control measures for 2019[51]. - The company has established a "six-in-one" supervision system to enhance internal control and oversight efficiency[51]. - The company has published 1 technical paper and received multiple awards for quality control achievements[30]. Research and Development - The company applied for a total of 3 patents during the reporting period, including 1 invention patent and 2 utility model patents[30]. - Research and development expenses increased to ¥5,456,194.57, up 45.4% from ¥3,754,821.74 in the previous period[91]. Market Position - The company has a market share of approximately 48% in urban infrastructure maintenance services in Shenzhen, managing over 2,903 roads and 589 bridges, totaling 2,245 kilometers[42]. - The rental rate for Tianjian Technology Building is approximately 69%, with 9,000 square meters leased to two new clients during the reporting period[44].

Dividend Distribution - The company plans to distribute a cash dividend of 2.50 RMB (including tax) for every 10 shares, totaling 1,437,342,642 RMB, and to increase capital by 3 shares for every 10 shares held[6]. - The company plans to distribute a cash dividend of 2.5 CNY per 10 shares, totaling 359,335,660.50 CNY based on a total share count of 1,437,342,642 shares as of December 31, 2018[200]. - For the 2017 fiscal year, a cash dividend of 2 CNY per 10 shares was distributed, amounting to 239,557,107 CNY based on a total share count of 1,197,785,535 shares as of December 31, 2017[200]. - The capital reserve for 2017 was increased by 2 shares for every 10 shares held, increasing the total share count from 1,197,785,535 to 1,437,342,642 shares[200]. - The profit distribution plan for 2016 was based on a total share count of 1,197,785,535 shares as of December 31, 2016[200]. Business Operations - The company has not reported any changes in its main business since its listing[24]. - The company has not indicated any changes in its main business operations since its establishment[24]. - The company has not reported any changes in its controlling shareholders[24]. - The company has maintained its compliance with the Shenzhen Stock Exchange's disclosure requirements for companies engaged in construction and real estate businesses[6]. Financial Performance - The company's operating revenue for 2018 was approximately ¥10.21 billion, representing a 51.26% increase compared to the previous year[26]. - Net profit attributable to shareholders for 2018 was approximately ¥781.58 million, a 29.91% increase from the previous year[26]. - The net cash flow from operating activities for 2018 was negative ¥492.77 million, an improvement from negative ¥1.57 billion in 2017[26]. - The basic earnings per share for 2018 was ¥0.5438, reflecting a 29.91% increase compared to the previous year[26]. - The total assets at the end of 2018 were approximately ¥31.74 billion, a 23.06% increase from the end of 2017[28]. - The net assets attributable to shareholders at the end of 2018 were approximately ¥8.70 billion, a 32.95% increase from the end of 2017[28]. - The weighted average return on equity for 2018 was 11.73%, up from 9.35% in 2017[28]. - The company reported a quarterly operating revenue of approximately ¥5.57 billion in Q4 2018, contributing significantly to the annual total[31]. - The net profit attributable to shareholders in Q4 2018 was approximately ¥607.05 million, showing strong performance in the last quarter[31]. - Non-recurring gains and losses for 2018 totaled negative ¥3.66 million, a significant decrease from positive gains in 2017[32]. Risk Management - The company has detailed potential risks and corresponding countermeasures in the report, particularly in the section discussing future development prospects[5]. - The company guarantees the authenticity, accuracy, and completeness of the annual report content, with key personnel assuming legal responsibility[4]. - The company’s financial report has been confirmed by its accounting personnel, ensuring its accuracy and completeness[4]. Project Development - The company achieved significant growth in operating revenue, new contract value, and profit scale during the reporting period, enhancing its comprehensive capabilities and industry position[39]. - The company holds a special grade qualification for municipal public engineering contracting, being one of only three in the country and the first in South China[39]. - The company has developed and operated over 5.5 million square meters of high-quality projects since its inception in 1988, with a focus on seven major cities including Shenzhen and Guangzhou[39]. - The company undertakes 48% of the road, bridge, and tunnel maintenance and operation services in Shenzhen, managing over 2,903 roads and 589 bridges, totaling 2,245 kilometers[39]. - The company has expanded its business model to include EPC, PPP, and agency projects, with these new business models accounting for 42% of its operations during the reporting period[43]. - The company has enhanced its competitive edge by obtaining eight new qualifications, including first-level qualifications in environmental engineering and airport runway engineering[49]. - The company ranked 62nd in the "Top 100 Enterprises in Shenzhen" and 191st in the "Top 500 Enterprises in Guangdong Province" during the reporting period[46]. - The company is the only municipal state-owned enterprise with full industry chain capabilities in construction, development, operation, and service[46]. - The company has a total of 44 qualifications, with 39 related to construction, showcasing its strong capabilities in various engineering fields[50]. - The company is actively promoting urban renewal projects, including shantytown renovations, to support urbanization and enhance its market competitiveness[44]. Financial Position - Equity assets increased by 65.83% compared to the beginning of the year, mainly due to increased investments in joint ventures[52]. - Cash and cash equivalents grew by 85.26% year-on-year, primarily due to an increase in advance sales proceeds[52]. - Accounts receivable increased by 41.53% compared to the beginning of the year, mainly due to an increase in receivables from project settlements[52]. - Investment properties increased by 33.41% year-on-year, mainly due to the completion of the Tianjian Technology Building being transferred to this category[55]. - The company achieved over 10 billion in revenue for the first time, with total profit reaching a historical high[63]. - The company has enhanced its construction management capabilities, with over 800 skilled workers and an increase in construction qualifications to 39[64]. - The company successfully expanded its market presence, winning its first PPP project and making significant progress in urban construction and service projects[66]. - The company implemented a comprehensive reform strategy, focusing on market-oriented reforms and enhancing internal mechanisms[65]. Customer Satisfaction and Property Management - The company achieved a customer satisfaction rate of 98.8% in property management, with a complaint reduction of 38.2% year-on-year[124]. - The company has a rental rate of 95.56% for property management fees, exceeding the industry average[124]. - The company is developing a mobile property service platform, with nearly 30,000 registered households and a registration rate of 85.82%[124]. - The company added 6.59 million m² of managed property area during the reporting period, with a total management area of 22.14 million m²[124]. Innovation and Technology - The company established an innovation platform system, including an academician workstation and various research institutes, and applied BIM technology in over 10 projects[70]. - The company has made significant advancements in technology application, including the use of BIM technology in construction projects[105]. - The company is committed to enhancing safety management through technology, including the implementation of smart safety helmets and BIM5D safety inspection systems[191]. Market Expansion - The company is positioned to benefit from the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, with increased investment in infrastructure and urban development[182]. - The company aims to strengthen its development strategy focusing on urban construction and services, with a goal to enhance scale, profit, and market value[183]. - The company is focusing on expanding its urban construction business by enhancing market development capabilities and collaborating on major infrastructure projects[186]. - The company is exploring strategic partnerships for long-term rental apartments, expanding its market presence[122]. Safety Management - The company has established a comprehensive quality management system, implementing over 40 safety management regulations and achieving full coverage of safety management[98]. - The company has not experienced any major safety production accidents during the reporting period, demonstrating effective safety management practices[98]. - The company is actively promoting technological advancements in safety management, including the implementation of a BIM5D safety inspection system for enhanced safety management efficiency[98]. Investment and Financing - The company has a total of 1,136,815.20 million CNY in financing, including other borrowings of 48,307.20 million CNY[169]. - The company has bank loans totaling 1,088,508.00 million CNY with an interest rate range of 4.7415% to 6.1750%[169]. - The company reported a loss of ¥7,963,961.83 from the equity investment in Shanghai Caohejing Fengxian Technology Oasis Construction[155]. - The company has restricted cash of ¥22,949,009.05, inventory of ¥6,885,465,189.50, and pledged subsidiary equity valued at ¥1,278,224,172.06, totaling restricted assets of ¥8,186,638,370.61[153]. Operational Efficiency - The company has implemented a standardized project development cycle of "3-9-12-24" months to improve operational efficiency[108]. - The company aims to improve service quality through standardized and refined operations, achieving high customer satisfaction rates[69]. - The company aims to enhance its revenue, particularly in the urban construction sector, with a budgeted investment of CNY 941.932 million for 2019[186].

Financial Performance - Total assets at the end of the reporting period reached ¥29.60 billion, an increase of 14.76% compared to the end of the previous year[8]. - Net profit attributable to shareholders was -¥29.77 million, a decrease of 115.05% year-on-year[8]. - Operating revenue for the reporting period was ¥1.18 billion, down 17.52% compared to the same period last year[8]. - The net cash flow from operating activities was -¥718.10 million, a significant decline of 537.44%[8]. - Basic earnings per share were -¥0.0207, a decrease of 115.04% year-on-year[8]. - The weighted average return on net assets was -0.45%, down 3.50% from the previous year[8]. - The company reported non-recurring gains and losses totaling -¥8.33 million, primarily due to donation expenses and tax penalties[9]. - Total profit for the first nine months of 2018 decreased by 55.48% to CNY 33,426.36 million, attributed to changes in the product structure of real estate revenue recognition[18]. - Investment income turned negative at CNY -721.55 million, a decline of 109.70% year-on-year, due to losses from joint ventures[18]. Shareholder Information - The total number of shareholders at the end of the reporting period was 35,804[12]. - The largest shareholder, Shenzhen Municipal Government, holds 23.47% of the shares[12]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13]. Cash Flow and Financing - As of September 30, 2018, cash and cash equivalents increased by 122.68% to CNY 543,886.27 million compared to December 31, 2017, due to increased cash inflow from projects and new bank loans[17]. - The net cash flow from operating activities for the first nine months of 2018 was negative CNY 71,810.36 million, a decline of 537.44% year-on-year, primarily due to payments for land prices and auction deposits[20]. - Short-term borrowings rose by 84.49% to CNY 267,700.00 million, driven by increased funding needs and bank loans[17]. - The company reported a 1624.71% increase in net cash flow from financing activities to CNY 397,851.48 million, reflecting heightened financing activities to meet funding demands[20]. Research and Development - R&D expenses surged by 421.83% to CNY 1,324.67 million in the first nine months of 2018, reflecting the company's commitment to enhancing its research and development capabilities[18]. - The company introduced two academicians to enhance its R&D capabilities and established multiple research cooperation projects[26]. - The company has made significant progress in technology innovation, with several patents granted, including a garbage crushing treatment device and a compaction device for road repair construction[26]. - New product development initiatives are underway, with an investment of 30 million RMB allocated for R&D in innovative construction technologies[66]. Project and Construction Updates - The company's urban construction business generated revenue of CNY 30.93 billion in Q3 2018, a 35.77% increase year-on-year, accounting for 51.45% of total revenue[21]. - The number of ongoing construction projects increased to 66 with a total contract value of CNY 181.89 billion, up 20.22% from the previous year[21]. - The company has 14 properties for sale, primarily located in first-tier cities, with a total construction area exceeding 354,000 square meters as of the end of Q3 2018[32]. - The total area of ongoing projects is 215,550 square meters, with a saleable area of 192,360 square meters[32]. - The company has 13 ongoing projects in cities such as Shenzhen, Shanghai, Guangzhou, Nanning, Changsha, Suzhou, and Huizhou[32]. - The company has developed advanced construction techniques, including deep foundation pit protection technology and cable trench support construction technology, recognized as domestically leading[31]. - The Tianjian Tianjiao project, a major urban renewal initiative, covers an area of 68,000 square meters with a total construction area of approximately 1.3 million square meters, contributing 43.3% of land for public welfare[58][59]. Revenue and Income Sources - The company's total operating revenue reached 171,939.65 million, with a gross profit of 51,983.05 million, resulting in a gross margin of 32.38%[36]. - In Shenzhen, the Sunshine Tianjian City project generated a revenue of 7,489.86 million with a gross margin of 79.15%[36]. - The urban services segment achieved an operating income of 1,194 million, accounting for 19.87% of total revenue[42]. - The rental income from commercial operations was 1,870 million, with a focus on expanding long-term apartment business[43]. - The occupancy rate of the Hive Apartment project exceeded 83%, showcasing strong demand and management[44]. Strategic Initiatives and Future Plans - The company is actively pursuing land acquisition and development opportunities to expand its market presence[62]. - The company plans to expand its market presence by entering two new provinces in 2019, targeting a 25% increase in market share[66]. - A strategic acquisition of a local competitor is being considered, which could enhance the company's service offerings and operational capacity[66]. - The company has maintained a strong cash position, with cash reserves reported at 200 million RMB as of Q3 2018[66]. - The board approved a capital increase for its wholly-owned subsidiary, aiming to strengthen its financial position and support future projects[66]. Operational Efficiency and Management - The company has optimized its internal control processes, revising multiple management regulations to enhance operational efficiency[55]. - The company is focusing on smart maintenance technologies to improve the efficiency and competitiveness of its maintenance services[53]. - The company has established a safety management system for construction projects to mitigate risks and enhance safety standards[56]. - The company is actively integrating resources for the Tianjian Tianjiao project to create a high-quality ecological community in the core area of Shenzhen[58]. Transparency and Reporting - The company has disclosed important matters in various financial reports, including the 2017 annual report and the 2018 first-quarter performance forecast[63]. - The company is committed to transparency, regularly disclosing significant financial and operational updates to stakeholders[63]. - No violations of external guarantees or non-operating fund occupation by major shareholders were reported during the period[67].

Financial Performance - The company's operating revenue for the reporting period was ¥3,463,351,529.44, representing an increase of 11.18% compared to ¥3,114,976,997.25 in the same period last year[15]. - The net profit attributable to shareholders of the listed company decreased by 40.97% to ¥204,299,175.22 from ¥346,103,166.54 in the previous year[15]. - The net cash flow from operating activities was negative at ¥1,996,553,071.77, a significant decline of 10,810.59% compared to ¥18,640,923.49 in the same period last year[15]. - Basic earnings per share fell by 40.99% to ¥0.1421 from ¥0.2408 in the previous year[15]. - Total assets at the end of the reporting period were ¥25,425,671,934.83, a decrease of 1.42% from ¥25,792,684,808.71 at the end of the previous year[15]. - The net assets attributable to shareholders of the listed company decreased by 3.52% to ¥6,310,720,189.16 from ¥6,540,770,377.87 at the end of the previous year[15]. - The weighted average return on net assets was 3.11%, down from 5.34% in the previous year, reflecting a decrease of 2.23%[15]. - The company plans not to distribute cash dividends or issue bonus shares[5]. Revenue Sources - The urban construction business generated operating revenue of 2.085 billion yuan, a year-on-year increase of 23.47%, accounting for 48.34% of total revenue[51]. - The comprehensive development business achieved operating revenue of 1.549 billion yuan, accounting for 35.91% of total revenue, with a year-on-year growth of 5.15%[59]. - The company achieved a revenue of CNY 6.79 billion from urban services, accounting for 15.75% of total revenue[68]. - The construction segment generated revenue of ¥2,084,721,670.14, an increase of 4.51% year-over-year[83]. - Real estate sales revenue reached ¥1,548,930,112.02, reflecting a significant growth of 30.67% compared to the previous year[83]. - Property leasing revenue increased by 58.36% to ¥121,025,332.24, indicating strong demand in this area[83]. Assets and Liabilities - The company's cash and cash equivalents stood at ¥2,400,416,490.17, accounting for 9.44% of total assets, a slight decrease of 0.03% from the previous year[85]. - Accounts receivable increased to ¥1,692,253,798.20, representing 6.66% of total assets, up 1.20% year-over-year[85]. - Short-term borrowings rose to ¥2,401,000,000.00, a significant increase of 3.81% due to higher funding needs[85]. - Long-term borrowings amounted to ¥6,359,013,744.00, accounting for 25.01% of total assets, a decrease of 0.35% from the previous year[85]. - Total liabilities decreased slightly from CNY 19,203,940,862.98 to CNY 19,069,594,789.80, a reduction of approximately 0.7%[193]. Market and Economic Environment - In the first half of 2018, China's GDP grew by 6.8%, with Guangdong province at 7.1% and Shenzhen at 8.0%, indicating a stable macroeconomic environment[39]. - The average selling price of residential properties nationwide reached 8,467 RMB per square meter, an increase of 11.3% year-on-year, reflecting ongoing market dynamics in the real estate sector[41]. - The construction industry is experiencing a new round of development opportunities due to policies like the "Belt and Road" initiative and urban infrastructure reforms[40]. Risk Management - The company faced significant risks and has detailed measures to address these risks in the report[4]. - The company is facing risks from policy changes and market competition, particularly in the real estate sector, which may impact future performance[99]. - Investment risks are highlighted due to the uncertainty in new business ventures and the need for thorough feasibility analyses[100]. - The company plans to enhance project management and marketing strategies to mitigate operational risks and ensure sales targets are met[101]. - Ongoing monitoring of government policies is essential to navigate risks associated with urban renewal projects[102]. Corporate Governance and Management - The company has a well-structured governance and management system, recognized with the Shenzhen Mayor's Quality Award nomination in 2015[32]. - The company has implemented measures to enhance safety production management, including signing responsibility agreements and increasing inspection efforts[105]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[115]. - The company has committed to improving internal controls regarding undisclosed information management[112]. Innovation and Development - The company has established specialized research institutions focusing on sponge city, underground space, and asphalt technology to enhance its technological capabilities[24]. - The company has obtained 49 patents as of June 2018, including 23 invention patents and 26 utility model patents, demonstrating strong technological innovation capabilities[33]. - The company is focusing on technology innovation in construction, including the application of BIM technology in multiple projects[58]. - The company is actively exploring new strategies for market expansion and technological advancements to adapt to changing industry dynamics[39]. Social Responsibility - The company reported a total of 191.01 million in funding for poverty alleviation efforts, helping 221 registered impoverished individuals to escape poverty[144]. - The company has established a dynamic management system for poverty alleviation, ensuring effective tracking of assistance provided[143]. - The company is committed to green development, promoting sustainable construction practices and technologies[139]. - The company has achieved significant results in solid waste recycling, processing 1.5 million cubic meters of construction waste[140]. Shareholder Information - The annual shareholders' meeting had a participation rate of 54.45%[109]. - The company reported a total share capital increase to 1,437,342,642 shares after a stock dividend distribution of 2 shares for every 10 shares held[168]. - The company’s chairman increased his shareholding by acquiring 100,000 shares, which increased to 120,000 shares after the stock dividend[169]. - The company’s total number of unrestricted shares decreased slightly from 773,542,061 to 928,160,473, with a percentage change from 64.58% to 64.57%[168].

Financial Performance - The company's operating revenue for Q1 2018 was ¥1,000,560,214.31, representing a decrease of 44.50% compared to ¥1,802,766,846.44 in the same period last year[7] - Net profit attributable to shareholders was ¥54,298,015.76, down 78.63% from ¥254,113,724.56 year-on-year[7] - The net cash flow from operating activities was -¥39,181,935.76, a decline of 85.91% compared to -¥278,172,740.14 in the previous year[7] - Basic earnings per share decreased by 78.65% to ¥0.0453 from ¥0.2122 in the same period last year[7] - Total profit decreased by 78.39% to 7,594.47 million, attributed to a decline in sales revenue from transferable commercial housing[15] - Net profit attributable to shareholders decreased by 78.63% to 5,429.80 million, reflecting the same decline in sales revenue[15] Assets and Shareholder Information - Total assets at the end of the reporting period were ¥27,517,338,235.21, an increase of 6.69% from ¥25,792,684,808.71 at the end of the previous year[7] - The top shareholder, Shenzhen Municipal Government, holds 23.47% of the shares, amounting to 281,178,065 shares[10] - The second-largest shareholder, Shenzhen Yuan Zhi Investment Co., Ltd., holds 16.10% with 192,837,466 shares, all of which are subject to trading restrictions[10] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[11] Project and Business Development - The company has 67 ongoing projects with a total contract amount of 160.4 billion, indicating a strong project pipeline[17] - New projects initiated during the reporting period amounted to 174,712 million, contributing to the overall growth of the project portfolio[17] - The company is transitioning from pure construction to a high-end service model that includes procurement, design, construction, and maintenance[17] - Significant projects completed include various municipal and environmental engineering projects, enhancing collaboration with major clients[16] - The company has established a mature EPC management system, receiving high recognition from regulatory authorities[17] Revenue Streams and Operational Efficiency - The company achieved a revenue of 283 million yuan from urban services, accounting for 19.96% of total revenue, with a year-on-year growth of 18.97%[34] - The rental income from commercial operations reached 59.15 million yuan, with a focus on enhancing operational efficiency[35] - The property management segment achieved a revenue of 102 million yuan, representing a year-on-year growth of 1.4%, with a management fee collection rate of 91.3%[39] Real Estate and Land Development - The company has a total land reserve of 206,689 square meters, with ongoing projects in various stages of development[33] - The company has 11 projects for sale, primarily located in first-tier cities, with a total saleable area of 168.56 million square meters[26] - The total area of ongoing projects is 190.04 million square meters, with 11 projects under construction[26] - The Luohu urban renewal project has signed contracts with 8,263 households, achieving a signing rate of over 99%, and has a demolition rate of 97.9%[41] - The Luohu project includes the construction of 990,000 square meters of resettlement housing and 100,000 square meters of public facilities[41] Strategic Initiatives and Innovations - The company is actively engaging in technological innovation in construction, focusing on green building and waste utilization[25] - The company is expanding its long-term rental apartment business and improving its internal resources for better operational management[35] - The company is focusing on enhancing its brand image through the development of high-quality residential projects[26] - The company is actively promoting the Shenzhen Longgang Tianjian Smart Park project, which is expected to be completed in 2019[35] Internal Management and Governance - The company is focusing on enhancing its internal control systems and risk management strategies to ensure sustainable development[42][43] - The company optimized its organizational structure, increasing the number of functional departments from 10 to 11[49] - The board approved several resolutions regarding the 2017 annual financial report and profit distribution[50] - There were no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[52] - The company reported no securities or derivative investments during the reporting period[54][55] - There were no violations regarding external guarantees during the reporting period[57] - The company did not experience any non-operating fund occupation by controlling shareholders or related parties[58] Communication and Future Outlook - The company conducted investor communication activities, including on-site visits and phone consultations[56] - The company is expected to have a significant change in net profit compared to the same period last year, but specific figures were not disclosed[53]

Financial Performance - The company's operating revenue for 2017 was CNY 6,749,593,623.34, representing an increase of 8.71% compared to CNY 6,209,017,672.39 in 2016[17] - The net profit attributable to shareholders for 2017 was CNY 601,621,221.04, a growth of 34.74% from CNY 446,518,135.09 in 2016[17] - The net profit after deducting non-recurring gains and losses was CNY 523,447,630.79, which is an increase of 68.29% compared to CNY 311,037,983.43 in 2016[17] - The basic earnings per share for 2017 was CNY 0.5023, up 34.74% from CNY 0.3728 in 2016[17] - The total assets at the end of 2017 reached CNY 25,792,684,808.71, a 33.71% increase from CNY 19,290,633,521.02 at the end of 2016[17] - The net assets attributable to shareholders at the end of 2017 were CNY 6,540,770,377.87, reflecting a 3.99% increase from CNY 6,289,866,562.10 at the end of 2016[17] - The total profit for 2017 was 83,866.07 million CNY, reflecting a year-on-year growth of 30.08%[61] - The overall gross profit margin improved to 26.08%, with a cost-to-profit ratio of 14.13%, increasing by 3.9 and 2.77 percentage points respectively[62] Cash Flow and Investments - The net cash flow from operating activities for 2017 was negative at CNY -1,574,253,818.24, worsening from CNY -731,080,311.14 in 2016[17] - The company reported a net cash outflow from operating activities of CNY -1,574,253,818.24, a deterioration compared to CNY -731,080,311.14 in 2016[141] - The company's cash and cash equivalents decreased by 32% compared to the beginning of the year, mainly due to increased land reserves and real estate development funding[50] - The company’s cash and cash equivalents decreased by CNY -1,143,281,450.39, compared to a decrease of CNY -638,656,107.75 in 2016[141] - The total cash inflow from financing activities was CNY 6,642,099,000.00, a 4.49% increase from the previous year[141] - The company achieved financing of 1.5 billion yuan through collaboration with the Airport Group and Yantian Port Group, improving capital efficiency[67] Business Operations and Strategy - The company has a strong focus on urban construction, with 24 construction qualifications and participation in over 180 major engineering projects[28] - The company aims to integrate construction, development, and operational services to meet urban demands, positioning itself as a leading urban comprehensive operator[28] - The company has actively engaged in the "Thirteenth Five-Year" strategy, focusing on innovation and resource integration to enhance its market position[28] - The company aims to expand its long-term rental business in response to the growing demand in the housing rental market, particularly in Shenzhen[40] - The company is actively pursuing strategic cooperation and external acquisitions to enhance its engineering contracting capabilities[37] - The company plans to continue deepening its existing city layouts while actively participating in urban renewal and housing rental markets[41] Market and Industry Trends - The construction industry in China saw a total output value of 21.3954 trillion yuan in 2017, with a year-on-year growth of 10.5%[34] - The construction industry is expected to maintain an average annual growth rate of 7% in total output value over the next few years[34] - The government encourages the use of new construction technologies such as prefabricated buildings and BIM, providing opportunities for industry growth[33] - Shenzhen's GDP surpassed that of Guangzhou and Hong Kong in 2017, positioning it as a key player in the "Belt and Road" initiative and creating opportunities for urban construction projects[34] Project Management and Development - The company completed real estate project investments of 56.79 billion CNY, exceeding the investment budget target[63] - New contracts for engineering projects amounted to 116.27 billion CNY, with EPC projects accounting for 73.75% of the total[63] - The company had 64 ongoing projects with a total contract value of 143.20 billion CNY, a 17.38% increase year-on-year[63] - The company has ongoing and new real estate development projects totaling 2,153,376.92 square meters, with 581,273 square meters under construction[191] - The company is focusing on expanding its market presence through various construction projects across multiple cities, including Shenzhen, Shanghai, and Nanning[86] Technological Innovation and Research - The company emphasizes technological research and product design, having established specialized research institutions for new business areas[28] - The company holds 49 patents, including 23 invention patents and 26 utility model patents, showcasing its commitment to technological innovation[56] - The company actively promoted the application of BIM technology in multiple projects, enhancing project management efficiency[99] - The company participated in the "13th Five-Year" national key R&D plan, focusing on road traffic safety technology and system integration[100] Urban Services and Community Development - The company operates in urban services, with core businesses including property management and urban renewal, managing approximately 20 million square meters of property[30] - In 2017, the company's urban services business revenue accounted for 18%, an increase of 11 percentage points compared to the previous year[43] - The company is focusing on urban public services and smart community development as part of its growth strategy[30] - The company aims to explore business opportunities in urban public facility operation services and community property services[43] Recognition and Awards - The company has received recognition as an advanced enterprise in technological innovation by the China Construction Enterprise Management Association[28] - The company has been recognized as a "Benchmark Enterprise for Independent Innovation" by the Guangdong Enterprise Federation in 2017[44] - The company received multiple awards for engineering excellence, including the "Zhan Tianyou Award" for the Shenzhen Metro Line 2 project, highlighting its commitment to quality[96] - The company was recognized for its investor relations management, receiving multiple awards including the Best Investor Relations Board and being included in the financing and margin trading stock list[68] Future Outlook and Strategic Goals - The future outlook for 2018 includes a focus on high-quality development, with an emphasis on infrastructure investment expected to remain at a relatively high level, driven by national policies[173] - The company plans to enhance its core capabilities and optimize its business structure through transformation and upgrading[182] - The company aims to become a leading urban comprehensive operation service provider, focusing on urban construction, comprehensive development, and urban services[181] - The strategic development goal includes building livable, eco-friendly, and smart cities, integrating resources along the industrial chain[181]