Financial Performance - The company reported a net profit of negative value for two consecutive years (2018 and 2019), leading to a continued delisting risk warning from the Shenzhen Stock Exchange[5]. - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[6]. - The company's operating revenue for 2021 was CNY 294,590,261.33, representing a significant increase of 488.19% compared to CNY 50,084,400.07 in 2020[23]. - The net profit attributable to shareholders was a loss of CNY 5,645,092.93, a decline of 174.67% from a profit of CNY 7,559,922.83 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 26,807,036.68, which is an 8.76% increase in loss compared to CNY 24,648,956.52 in 2020[23]. - The company reported a negative net cash flow from operating activities of CNY 141,614,920.85, worsening by 48.53% from CNY -95,345,541.69 in 2020[23]. - Total assets increased by 110.98% to CNY 574,888,413.22 at the end of 2021, up from CNY 272,487,476.98 at the end of 2020[23]. - The company reported a net loss of RMB 549.64 million, primarily due to increased losses in the exhibition services segment impacted by the pandemic[40]. - The company reported a 1,991.66% increase in financial expenses, primarily due to increased interest expenses during the reporting period[55]. Acquisitions and Restructuring - The company completed the acquisition of 51% equity in Tianji Zhigu from Shenzhen Tianrunda, expanding into the electronic information display terminal industry[21]. - The company issued 247,644,935 new shares in a private placement, increasing the stake of Hubei Asset Management to 23.08% of total shares, changing the controlling shareholder[21]. - The company completed a major asset restructuring by acquiring 51% of Tianji Zhigu (Hubei) Information Technology Co., Ltd., expanding into the electronic information display terminal sector[32]. - The company completed a significant asset restructuring by acquiring 51% of Tianji Zhigu, which contributed CNY 24.24 million in revenue, accounting for 82.28% of the total revenue for the year[52]. - The company plans to support Tianji Zhigu in capacity expansion and product development to enhance its market position and reduce dependency on single customers[80]. - The company aims to optimize capital allocation and industry layout by increasing investments in high-end sectors, aligning with local government manufacturing plans[80]. Revenue and Market Expansion - The revenue from the newly acquired subsidiary Tianji Zhigu was RMB 242.24 million, accounting for 82.28% of the company's total revenue[41]. - The healthcare subsidiary Yinghua Hospital generated revenue of RMB 42.65 million, a growth of 7.85% compared to the previous year, representing 14.48% of total revenue[42]. - The company achieved a total revenue of RMB 294.59 million in 2021, representing a year-on-year increase of 488.19%[40]. - The company is focusing on providing comprehensive electronic information display terminal solutions and plans to increase R&D investment[40]. - The company plans to expand into the smart display terminal market, including commercial displays and automotive displays, to enhance its product structure and market share[56]. - The company is actively pursuing market expansion and strategic acquisitions as part of its growth strategy[173]. Research and Development - The company increased its R&D investment to ¥10,358,716.12 in 2021, representing 3.52% of its operating revenue[58]. - The company’s research and development expenses were approximately CNY 10.36 million, indicating a focus on innovation and product development[55]. - The number of R&D personnel rose to 36 in 2021, with a 12.08% share of total employees[57]. - Research and development investments increased by 10% in 2021, totaling 150 million, focusing on new technologies and product enhancements[149]. Governance and Compliance - The governance structure complies with relevant laws and regulations, ensuring independent operations from the controlling shareholder[85]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal regulations and the company's articles of association[86]. - The company has established an independent financial department with a separate accounting system and tax management[89]. - The company strictly adheres to information disclosure obligations, ensuring all shareholders have equal access to information[87]. - The company has committed to maintaining transparency and compliance with regulatory requirements, ensuring the accuracy of all disclosed information[157]. Legal and Regulatory Matters - The company is involved in a lawsuit with Xingyuan Hangya, with a disputed amount of CNY 99,496,600, which has not yet formed an estimated liability[193]. - The company is required to pay CNY 55,890,800 plus interest to Xingyuan Hangya as per the court ruling[193]. - The company has a loan dispute with Hongzhi Industrial, with a total amount of CNY 69,720,300, which is subject to a court ruling[194]. - The company has not faced any administrative penalties from the China Securities Regulatory Commission in the last three years, ensuring compliance and governance[172]. - The company has not reported any significant changes in its operational integrity during the reporting period[200]. Employee and Stakeholder Relations - The company provides comprehensive welfare benefits to employees, including various types of insurance and paid leave[136]. - Employee training programs are organized based on different job requirements, combining external training and internal training[121]. - The total number of employees at the end of the reporting period is 464, with 309 in production, 32 in sales, 81 in technology, 16 in finance, and 26 in administration[119]. - The educational background of employees shows that 377 have an associate degree or below, 72 hold a bachelor's degree, and 15 have a master's degree[119]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[102]. - New product launches are expected to contribute an additional 300 million yuan in revenue next year[102]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million yuan earmarked for potential deals[102]. - The company aims to reduce operational costs by 5% in 2022 through efficiency improvements and process optimization[165].

Financial Performance - The company reported a net profit of negative value for two consecutive years (2018 and 2019), leading to a continued delisting risk warning from the Shenzhen Stock Exchange[5]. - The company plans to apply for the removal of the delisting risk warning after the 2021 annual report disclosure, but the approval remains highly uncertain[5]. - The company’s operating revenue for 2021 was CNY 294,590,261.33, representing a significant increase of 488.19% compared to CNY 50,084,400.07 in 2020[23]. - The net profit attributable to shareholders was a loss of CNY 5,645,092.93, a decline of 174.67% from a profit of CNY 7,559,922.83 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 26,807,036.68, which is an 8.76% increase in loss compared to CNY 24,648,956.52 in 2020[23]. - The company reported a net cash flow from operating activities of -CNY 141,614,920.85, a decrease of 48.53% from -CNY 95,345,541.69 in 2020[23]. - Total assets increased by 110.98% to CNY 574,888,413.22 at the end of 2021, compared to CNY 272,487,476.98 at the end of 2020[23]. - The company reported a significant increase in financial expenses, rising by 1,991.66% to CNY 2.91 million, primarily due to increased interest expenses[56]. - The company reported a total revenue of 4,325 million in 2021, maintaining the same figure as in 2020, indicating no growth year-over-year[93]. Shareholder Returns - No cash dividends, bonus shares, or capital reserve transfers will be distributed to shareholders[6]. - The company has not proposed any cash dividend distribution plan during the reporting period, despite having a positive profit available for distribution to shareholders[123]. Acquisitions and Restructuring - The company acquired 51% of Tianji Zhigu's equity from Shenzhen Tianrunda, expanding into the electronic information display terminal industry[21]. - The company completed a major asset restructuring by acquiring 51% of Tianji Zhigu (Hubei) Information Technology Co., Ltd., expanding into the electronic information display terminal industry[32]. - The company has implemented a major asset restructuring, acquiring 51% of Tianji Zhigu, which has significantly improved its asset quality and competitiveness[37]. - The company plans to support Tianji Zhigu in upgrading and expanding production capacity, focusing on high value-added products to mitigate risks associated with reliance on a single customer[80]. Revenue Sources - The revenue from the newly acquired subsidiary Tianji Zhigu was RMB 242.24 million, accounting for 82.28% of the company's total revenue[41]. - The medical service segment, operated by the subsidiary Yinghua Hospital, generated revenue of RMB 42.65 million, a growth of 7.85% compared to the previous year[42]. - The company reported a total of CNY 21,161,943.75 in non-recurring gains for 2021, compared to CNY 32,208,879.35 in 2020[27]. Research and Development - Research and development expenses amounted to CNY 10.36 million, representing 3.52% of total revenue, marking a significant increase due to the acquisition of Tianji Zhigu[57]. - The company is focusing on providing comprehensive electronic information display terminal solutions and plans to increase R&D investments[40]. - The company has a total of 36 R&D personnel, making up 12.08% of the workforce, with a focus on developing new intelligent display terminals[57]. Governance and Compliance - The company has established effective communication channels with shareholders to protect their rights[85]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[86]. - The company adheres to strict information disclosure practices, ensuring timely and accurate communication with all shareholders[87]. - The company has established an independent financial department with its own accounting system and tax obligations, reinforcing financial autonomy[89]. - The company is committed to maintaining effective internal controls and self-evaluation processes as part of its governance framework[107]. Legal and Regulatory Matters - The company has not faced any administrative or criminal penalties in the past five years, ensuring compliance with relevant laws and regulations[156]. - The company has been involved in multiple legal disputes, including a case with Hongzhi Industrial, which resulted in a judgment requiring the company to repay debts totaling 29.9 million yuan[194]. - The company is actively managing its legal risks and financial obligations related to ongoing lawsuits[197]. Future Outlook - Future outlook remains cautious, with no specific guidance provided for revenue growth or market strategies[93]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[104]. - The company plans to enhance its digital marketing efforts, increasing the budget by 25% to improve customer engagement[104]. - The company has set a performance guidance of 2 billion yuan in revenue for 2022, indicating a growth target of 18%[152].

2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 华塑控股股份有限公司 2021 年第三季度报告 证券代码：000509 证券简称：*ST 华塑 公告编号：2021-071 号 华塑控股股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 （一）主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 11,690,350.09 | -17.03% | 34,890,203.16 | 1.43% | ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥23,199,853.07, representing a 14.23% increase compared to ¥20,309,324.05 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached ¥10,904,043.52, a significant increase of 257.26% from a loss of ¥6,933,726.62 in the previous year[20]. - The basic earnings per share improved to ¥0.0102, compared to a loss of ¥0.0084 per share in the same period last year, marking a 221.43% increase[20]. - The weighted average return on net assets was 7.10%, up by 13.94% from -6.84% in the previous year[20]. - The total assets decreased by 22.57% to ¥210,991,842.55 from ¥272,487,476.98 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 4.64% to ¥154,991,709.47 from ¥148,123,970.33 at the end of the previous year[20]. - The net cash flow from operating activities was negative at -¥59,950,269.37, a decline of 4,676.06% compared to ¥1,310,085.45 in the same period last year[20]. - The company reported a significant increase in operating profit, reaching CNY 5,563,375.15, compared to a loss of CNY 10,515,543.21 in the previous year[127]. - The total comprehensive income for the first half of 2021 was CNY 14,786,110.61, compared to CNY 2,888,969.73 in the same period of 2020, indicating a significant increase[132]. Revenue Segmentation - The medical services segment generated CNY 18,532,394.00, accounting for 79.88% of total revenue, with a year-on-year growth of 7.23%[33]. - The company's revenue from exhibition services and others surged by 779.36% to CNY 1,768,996.29, compared to CNY 201,168.58 in the previous year[33]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased by 48.56% to CNY 102,452,404.25 from CNY 158,991,623.28 at the end of the previous year[38]. - Cash inflows from operating activities totaled CNY 23,296,704.10 in the first half of 2021, down from CNY 46,418,502.47 in the same period of 2020, showing a decline in operational cash generation[135]. - The net cash flow from operating activities was negative CNY 59,950,269.37 for the first half of 2021, compared to a positive CNY 1,310,085.45 in the first half of 2020, indicating operational challenges[136]. - The company experienced a net decrease in cash and cash equivalents of CNY 56,535,270.93 during the first half of 2021, compared to a decrease of CNY 2,222,906.55 in the same period of 2020[136]. Legal and Compliance Issues - The company reported a significant litigation case involving a contract dispute with Xingyuan Huanya, with a claimed amount of approximately ¥99.5 million[68]. - The company is obligated to pay approximately ¥53.18 million in compensation related to the litigation case with Sichuan Derui[69]. - The company has ongoing litigation with Dalian Electric Porcelain Group Co., Ltd. and others, with the case currently under review[71]. - The company is actively managing its legal risks and financial obligations in light of ongoing litigation[71]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has no stock incentive plans or employee shareholding plans in place during the reporting period[53]. - The company completed a non-public offering with a lock-up period of 18 months for newly issued shares, during which no transfers will occur[59]. - The controlling shareholder changed from Xizang Maitian to Hubei Asset Management, which now holds 23.08% of the company's shares and 29.08% of the voting rights[91]. Future Outlook and Strategic Plans - The company plans to enhance its competitiveness by entering the electronic information display terminal sector through a major asset restructuring[29]. - The company aims to improve operational efficiency through strategic mergers and acquisitions in the upcoming quarters[143]. - The company plans to continue focusing on cost reduction and efficiency improvements to enhance profitability in the future[127]. Accounting Policies and Financial Reporting - The financial report for the first half of 2021 has not been audited[115]. - The accounting policies are based on the continuous operation assumption, indicating a history of profitable operations[157]. - The company recognizes the fair value of identifiable net assets on the acquisition date for subsidiaries not under common control[165]. Risk Management - The company has outlined potential risks in its future development plans, which investors should be aware of[5]. - The company is focused on resolving its legal disputes to ensure financial stability and operational continuity[71].

Financial Performance - The company's operating revenue for Q1 2021 was ¥11,149,429.71, representing a 9.74% increase compared to ¥10,160,290.36 in the same period last year[8] - The net profit attributable to shareholders was ¥13,477,934.61, a significant increase of 291.12% from a loss of ¥7,052,154.55 in the previous year[8] - The basic earnings per share rose to ¥0.0126, up 248.24% from a loss of ¥0.0085 per share in the same period last year[8] - The weighted average return on equity improved to 8.74%, an increase of 15.69 percentage points from -6.95% in the previous year[8] - The company reported a profit before tax of CNY 14,301,777.84, recovering from a loss of CNY 6,812,746.90 in the previous year[38] - The total comprehensive income for the period was CNY 14,274,935.64, a decrease of CNY 6,813,198.23 compared to the previous period[39] - The net profit for the period was CNY 13,374,735.56, compared to a net loss of CNY 573,925.88 in the previous period[41] Assets and Liabilities - Total assets decreased by 19.15% to ¥220,305,050.16 from ¥272,487,476.98 at the end of the previous year[8] - The company's total assets decreased to ¥220,305,050.16 as of March 31, 2021, down from ¥272,487,476.98 at the end of 2020, indicating a reduction of about 19.2%[30] - The company's total liabilities decreased significantly from ¥122,752,325.49 at the end of 2020 to ¥57,703,629.45 as of March 31, 2021, a decrease of approximately 53%[31] - Total liabilities decreased to CNY 119,373,016.65 from CNY 189,373,049.50, indicating improved financial stability[34] - The total current liabilities decreased to CNY 114,540,484.85 from CNY 184,619,185.84, indicating a reduction in short-term financial obligations[34] Cash Flow - The net cash flow from operating activities was negative at -¥37,555,044.16, a decline of 752.51% compared to ¥5,755,499.28 in the same period last year[8] - The net cash flow from operating activities was negative CNY 37,555,044.16, compared to a positive cash flow of CNY 5,755,499.28 in the previous period[45] - The company reported a significant increase in cash outflows related to operating activities, totaling CNY 73,764,593.90 compared to CNY 23,105,888.12 in the previous period[45] - Cash and cash equivalents at the end of the period totaled CNY 121,436,579.12, down from CNY 158,991,623.28 at the beginning of the period[46] Shareholder Information - The top shareholder, Hubei Asset Management Co., Ltd., holds 23.08% of the shares, totaling 247,644,935 shares[11] - The controlling shareholder of the company changed from Tibet Maitian Venture Capital Co., Ltd. to Hubei Asset Management Co., Ltd., which now holds 23.08% of the total shares and 29.08% of the voting rights[16] Management and Governance - The company has undergone changes in its board of directors and management, with new appointments made on January 14, 2021[17] - There are no significant operational contracts or major external guarantees reported during the period, suggesting a focus on internal management and stability[21] Investment and Financial Strategy - The company has not engaged in any securities or derivative investments during the reporting period, maintaining a conservative investment strategy[19][20] - The company has committed ¥1,630,000 in bank wealth management products, with no overdue amounts reported[23] - The company did not engage in any repurchase transactions during the reporting period[12] Other Financial Metrics - The company reported other income of CNY 5,100,000.00 during the period[40] - The company incurred sales expenses of CNY 3,308.51 and management expenses of CNY 1,143,404.46 during the period[40] - The company has no overdue commitments or guarantees during the reporting period, indicating a stable financial position[18]

Financial Performance - The company's operating revenue for 2020 was approximately ¥50.08 million, a decrease of 28.58% compared to ¥70.12 million in 2019[19]. - The net profit attributable to shareholders for 2020 was approximately ¥7.56 million, a significant improvement of 105.84% from a loss of ¥129.50 million in 2019[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of approximately ¥24.65 million, which is a 60.28% improvement from a loss of ¥62.05 million in 2019[19]. - The net cash flow from operating activities was negative at approximately ¥95.35 million, a decline of 1,398.82% compared to a negative cash flow of ¥6.36 million in 2019[19]. - The total assets at the end of 2020 were approximately ¥272.49 million, an increase of 73.71% from ¥156.87 million at the end of 2019[19]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥148.12 million, a substantial increase of 251.25% from a negative net asset of ¥97.94 million at the end of 2019[19]. - The basic earnings per share for 2020 were ¥0.0070, a 104.46% increase from a loss of ¥0.1569 per share in 2019[19]. - The weighted average return on net assets for 2020 was 8.56%, a significant recovery from -276.24% in 2019[19]. Revenue Sources - Revenue from medical services was RMB 39,547,564.01, accounting for 78.96% of total revenue, down 29.49% from RMB 56,089,061.92 in 2019[39]. - The subsidiary Yinghua Hospital generated revenue of CNY 39.65 million, with a net profit of CNY 3.74 million, impacted by the COVID-19 pandemic[34]. - The company’s rental income decreased due to tenant withdrawals and rent negotiations, contributing to the overall revenue decline[34]. Debt and Financial Obligations - The company achieved a debt restructuring gain of CNY 45.19 million through negotiations with creditors, significantly reducing repayment obligations[34]. - The company is currently involved in multiple legal disputes regarding debt repayment and restructuring[86]. - The total amount owed to Hongzhi Industrial, including principal and interest, reached 69.72 million yuan[86]. - The company is required to repay Hongzhi Industrial a principal amount of 29.90 million yuan with a monthly interest rate of 2% until the total amount is settled[86]. Governance and Management Changes - Several key management personnel, including the chairman and independent directors, resigned during 2020, indicating potential shifts in governance[144]. - The company appointed new directors and a new chairman in January 2021, suggesting a strategic leadership change[144]. - The company is focusing on expanding its market presence and enhancing its governance structure with new appointments[145]. Legal and Compliance Issues - The company is involved in a lawsuit with Shanghai Youbei, claiming a payment of 92.6031 million yuan, with an additional overdue penalty calculated at a daily interest rate of 0.05%[85]. - The company has faced significant challenges in 2021 due to market reforms, the pandemic, and historical issues impacting its management[65]. - The company has not distributed any cash dividends in the last three years, with retained earnings being negative[74]. Future Outlook and Strategic Plans - The company plans to expand its vaccine services and is exploring additional health check services to recover from the pandemic's impact[34]. - The company is exploring acquisition opportunities in the tech sector to bolster its product offerings and market presence[152]. - The company provided guidance for Q1 2024, expecting revenue to be between 1.6 billion and 1.8 billion, indicating a potential growth of 10% to 20%[152]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,918, an increase from 34,254 at the end of the previous month, reflecting a growth of approximately 4.85%[129]. - The largest shareholder, Tibet Maitian Venture Capital Co., Ltd., holds 199,205,920 shares, representing 24.13% of the total shares, with no changes during the reporting period[130]. Internal Controls and Audit - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the integrity of the financial statements[185]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls in all material respects[180]. - There were no significant internal control deficiencies identified during the reporting period, indicating effective internal control measures[178].

华塑控股股份有限公司 2020 年第三季度报告全文 华塑控股股份有限公司 2020 年第三季度报告 2020 年 10 月 1 华塑控股股份有限公司 2020 年第三季度报告全文 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、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人吴奕中、主管会计工作负责人黄颖灵及会计机构负责人(会计主 管人员)王毅声明：保证季度报告中财务报表的真实、准确、完整。 2 华塑控股股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 133,395,226.62 | | 156,865,960.12 | -14.96% | | 归属于上市公司股东的净资产（元） | -116,024,930.25 | | - ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥20,309,324.05, a decrease of 42.12% compared to ¥35,089,240.80 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥6,933,726.62, an improvement of 17.20% from -¥8,374,446.61 year-on-year[18]. - The net cash flow from operating activities was ¥1,310,085.45, down 91.63% from ¥15,648,867.63 in the previous year[18]. - The total assets at the end of the reporting period were ¥135,545,312.87, a decrease of 13.59% from ¥156,865,960.12 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were -¥104,870,096.93, a decline of 7.08% from -¥97,936,370.32 at the end of the previous year[18]. - The basic earnings per share for the reporting period were -¥0.0084, an improvement of 16.83% from -¥0.0101 in the previous year[18]. - The company reported a net loss of ¥6,592,019.94 for the first half of 2020, compared to a net loss of ¥3,196,088.93 in the same period of 2019, representing an increase in losses of 106.5%[125]. - The operating profit for the first half of 2020 was -¥10,515,543.21, a significant decline from an operating profit of ¥5,584,957.87 in the first half of 2019[125]. - The total profit for the first half of 2020 was -¥6,467,923.88, compared to -¥603,858.04 in the same period of 2019[125]. Operational Challenges - The core competitiveness of the company is currently weak, requiring enhancement, as the revenue and profit scale from its subsidiaries are relatively small[27]. - The company is currently facing significant operational challenges, necessitating a business transformation to enhance competitiveness and seek new profit growth points[48]. - The first half of 2020 saw a continued negative net profit, indicating ongoing financial difficulties[54]. - The company is under scrutiny due to a previous audit report highlighting significant uncertainties regarding its ability to continue as a going concern[54]. - Current liabilities exceeded current assets by 168.57 million RMB, indicating significant cash flow pressure and uncertainty regarding the company's ability to continue as a going concern[154]. Cash Flow and Liquidity - The cash and cash equivalents decreased by 121.01% to -2,222,906.55 CNY, largely due to reduced net cash flow from operating activities[32]. - The net cash flow from operating activities decreased by 91.63% to 1,310,085.45 CNY, primarily due to a reduction in the purchase of financial products[32]. - The total cash inflow from operating activities was 46,418,502.47 CNY, while the cash outflow was 45,108,417.02 CNY, resulting in a net cash flow of 1,310,085.45 CNY[134]. - The ending balance of cash and cash equivalents was 25,535,953.64 CNY, down from 42,852,545.14 CNY at the end of the previous year[134]. - The company paid 14,817,028.26 CNY to employees, reflecting a 31.5% increase from 11,277,113.75 CNY in the previous period[133]. Strategic Initiatives - The company is exploring new strategies to improve its financial performance and address the ongoing losses[48]. - The company aims to enhance its internal control system and governance structure to improve operational standards and risk management capabilities[56]. - The company is exploring solutions to operational issues, including debt and asset disposal, and is negotiating with creditors to resolve debt problems and restore financing capabilities[56]. - Management plans to negotiate with creditors to alleviate company debt and enhance operational cash flow[154]. - The company aims to accelerate the sale of non-operational properties and improve the collection of receivables from Chengdu Maitian Garden Co., Ltd[154]. Shareholder and Governance Matters - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has committed to not infringing on shareholder rights and ensuring fair management practices during the control period[52]. - The company held its annual general meeting with a 24.29% investor participation rate on April 21, 2020[49]. - The company held a shareholder meeting on April 27, 2020, to elect new members for the 11th Board of Directors and Supervisory Board, with independent directors nominated[84]. - The total number of ordinary shareholders at the end of the reporting period was 46,754[96]. Financial Reporting and Compliance - The company has not conducted an audit for the half-year financial report, which remains unaudited[54]. - The financial statements were approved by the board of directors on August 20, 2020, indicating a commitment to transparency and compliance[153]. - The company has implemented accounting policies in accordance with the Ministry of Finance's accounting standards, ensuring adherence to regulatory requirements[153]. - The company does not apply significant changes in accounting policies or estimates for the current reporting period[200]. Legal and Regulatory Matters - The company is involved in a legal dispute regarding a loan of 8.6 million CNY, with an interest rate of 1.3% per month until the principal and interest are fully paid[60]. - The company has no significant litigation or arbitration matters that meet the disclosure standards, with a total of 9.08 million CNY involved in minor litigation[60]. - There are no media inquiries or public doubts regarding the company during the reporting period[61]. - The company did not face any penalties or rectification issues during the reporting period[62]. Asset Management - The company is strengthening management of Shanghai Yinghua Hospital and increasing efforts to recover receivables from Chengdu Maitian Garden Co., Ltd[56]. - The company aims to enhance its internal control system and governance structure to improve operational standards and risk management capabilities[56]. - The company reported a total debt of 69.72 million CNY, including principal and interest, as of December 22, 2017[60]. - The company has invested 20.51 million CNY in bank financial products, with a remaining balance of 16.09 million CNY[76]. Environmental and Social Responsibility - The company has maintained a commitment to low-carbon and environmentally friendly practices in its operations[77]. - The company has not been listed as a key pollutant discharge unit by environmental protection authorities, adhering to various environmental laws without any penalties during the reporting period[77]. - There have been no initiatives or plans for targeted poverty alleviation in the reporting year[78].

Financial Performance - The company's operating revenue for Q1 2020 was ¥10,160,290.36, a decrease of 30.52% compared to ¥14,622,521.06 in the same period last year[8] - The net profit attributable to shareholders was -¥7,052,154.55, representing a decline of 149.44% from -¥2,827,203.20 year-on-year[8] - The total operating profit for Q1 2020 was -3,187,219.55 CNY, compared to -610,466.41 CNY in the previous period, indicating a significant decline[39] - The net profit for Q1 2020 was -6,813,198.23 CNY, a decrease from -761,539.40 CNY year-over-year[39] - The total comprehensive income for Q1 2020 was -6,813,198.23 CNY, compared to -761,539.40 CNY in the previous period[40] - Basic and diluted earnings per share for Q1 2020 were both -0.0085, compared to -0.0034 in the previous period[40] Cash Flow - The net cash flow from operating activities increased significantly by 478.65% to ¥5,755,499.28, compared to -¥1,520,010.50 in the previous year[8] - Cash flow from operating activities generated a net cash inflow of 5,755,499.28 CNY, a recovery from a net outflow of -1,520,010.50 CNY in the previous period[47] - The total cash inflow from operating activities was 28,861,387.40 CNY, while cash outflow was 23,105,888.12 CNY[46] - The cash flow from operating activities totaled 702,668.01 RMB, up from 600,114.68 RMB in the previous period, reflecting a growth of approximately 17.1%[50] - The total cash inflow from financing activities was 0 RMB, while cash outflow for financing activities was 4,900,000 RMB, resulting in a net cash flow of -4,900,000 RMB[51] Assets and Liabilities - The total assets at the end of the reporting period were ¥142,424,152.29, down 9.21% from ¥156,865,960.12 at the end of the previous year[8] - The company's total current assets decreased to ¥78,746,536.86 from ¥89,753,091.68, indicating a reduction of approximately 12.3%[29] - The company's accounts receivable decreased to ¥5,534,200.06 from ¥7,918,213.70, a decline of about 30.1%[29] - The company's total non-current assets decreased to ¥63,677,615.43 from ¥67,112,868.44, reflecting a decline of about 5.9%[30] - Total liabilities amounted to CNY 251,149,045.33, a slight decrease from CNY 253,877,654.94 in the previous period[32] - The company's total equity was CNY -110,455,161.27, compared to CNY -109,881,235.39 in the previous period[35] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 55,722[11] - The largest shareholder, Tibet Maitian Venture Capital Co., Ltd., held 24.13% of the shares, amounting to 199,205,920 shares[11] Operating Expenses - The company experienced a significant increase in operating expenses, with non-operating expenses rising by 9284.70% to ¥3,648,681.58 due to litigation provisions[15] - Total operating costs for Q1 2020 were CNY 13,410,597.51, down from CNY 15,232,987.47 in the previous period[38] - The company incurred management expenses of 2,797,757.44 CNY, down from 4,260,829.03 CNY in the previous period[42] Other Financial Information - The company reported non-recurring losses totaling ¥3,637,843.35, primarily due to litigation-related interest provisions[9] - The company reported other income of 5,100,000.00 CNY during the quarter[42] - The company recorded an investment income of 5,100,000.00 CNY, contributing positively to the overall financial performance[42] - The company has no reported securities investments during the reporting period[20] - The company has not engaged in any derivative investments during the reporting period[22] - There were no violations regarding external guarantees during the reporting period[24] - The company did not execute any new financing activities during the quarter, as indicated by the absence of cash inflow from financing activities[51] - The first quarter report was not audited, which may affect the reliability of the financial data presented[53]

Financial Performance - The company's operating revenue for 2019 was ¥70,122,114.64, a decrease of 94.20% compared to ¥1,209,103,969.12 in 2018[18]. - The net profit attributable to shareholders for 2019 was -¥129,495,967.85, representing a decline of 141.05% from -¥53,720,897.01 in 2018[18]. - The basic earnings per share for 2019 was -¥0.1569, a decrease of 140.97% from -¥0.0651 in 2018[18]. - The net loss for 2019 was CNY 123,463,940.91, compared to a net loss of CNY 50,899,252.53 in 2018, reflecting an increase in losses of approximately 142.5%[189]. - The company reported a net profit attributable to shareholders remained negative during the reporting period, with a net asset value also negative at the end of the period[60]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 93.08%, reaching -¥6,361,382.40 in 2019 compared to -¥91,968,762.91 in 2018[18]. - The company reported a net cash flow from operating activities for 2019 was -438,270.90 CNY, a significant improvement from -64,971,012.95 CNY in 2018[199]. - The total cash inflow from operating activities was ¥81,094,045.99, a significant decrease of 94.14% year-on-year[48]. - The cash and cash equivalents decreased by 76.56% to -¥4,527,068.64, reflecting a challenging liquidity position[49]. - The company has a cash flow tightness issue, with current liabilities exceeding current assets by 163.18 million yuan[168]. Assets and Liabilities - The total assets at the end of 2019 were ¥156,865,960.12, a decrease of 24.20% from ¥206,943,839.63 at the end of 2018[18]. - The total liabilities rose to CNY 253,877,654.94 from CNY 191,788,153.10, an increase of about 32.4%[180]. - The equity attributable to the parent company decreased from CNY 10,463,037.97 in 2018 to CNY -97,936,370.31 in 2019, indicating a decline of approximately 1,048.5%[184]. - Current assets totaled CNY 89,753,091.68, down from CNY 145,111,125.97 in the previous year, indicating a decrease of about 38.2%[179]. - The company reported a significant increase in inventory, which rose to CNY 3,005,790.36 from CNY 670,473.62, representing a growth of approximately 347.5%[178]. Business Operations and Strategy - The company acquired 100% equity of Beijing Bowei Yilong Cultural Communication Co., Ltd. in 2019, expanding its business into stage art visual presentation and related services[17]. - The company is actively exploring solutions to operational challenges, including debt disposal, asset disposal, and potential mergers and acquisitions[30]. - The company ceased its bulk commodity trading business in July 2018, which contributed to the significant drop in revenue in 2019[30]. - The company has been warned of delisting risk due to negative net profits for both 2018 and 2019, with 2019 audited net assets also being negative[5]. - The company is in strategic cooperation discussions with Nanchong Shangtou Guoxin Equity Investment Fund Management Co., Ltd. to address debt issues[60]. Shareholder and Governance - The total number of ordinary shareholders at the end of the reporting period was 54,704, down from 59,681 at the end of the previous month[115]. - The largest shareholder, 西藏麦田创业投资有限公司, holds 199,205,920 shares, accounting for a substantial share of the company's total[118]. - The board of directors was expanded from 5 to 7 members, with the addition of two new directors[108]. - The company has maintained a stable management team with no significant changes in shareholding among directors and supervisors[129]. - The company strictly adheres to laws and regulations to protect shareholder rights and ensure fair information disclosure[100]. Legal and Compliance Issues - The company is involved in multiple lawsuits, including a claim for CNY 92,603,100 related to a contract dispute with Shanghai Youbei[78]. - The company is also facing a claim of CNY 55,275,800 from Xingyuan Hongya regarding real estate cooperation development payments[80]. - The company has not faced any situations that would lead to suspension or termination of its listing[77]. - The company has not reported any significant internal control deficiencies during the reporting period[157]. - The audit opinion was a standard unqualified opinion with a paragraph on significant uncertainty regarding the company's ability to continue as a going concern[165]. Employee and Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 24.12 million[140]. - The company employed a total of 62 staff members, with 44 holding a college degree or above[141]. - The company has a professional composition of 10 production personnel, 20 technical personnel, 8 financial personnel, and 24 administrative personnel[141]. - The company organizes both external training and internal training for employees based on their positions[143]. - The company has no labor outsourcing arrangements[144].