Financial Performance - The company's operating revenue for Q3 2022 was ¥341,803,017.59, a decrease of 11.07% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2022 was ¥131,829,118.84, an increase of 239.84% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥139,379,588.46, a decrease of 48.50% compared to the same period last year[3]. - The net profit for the first nine months of 2022 was 269,720,253.06, an increase of 175.91% compared to the same period in 2021, which recorded a net loss of 355,332,489.08[7]. - The company reported a revenue of 1.5 billion yuan for Q3 2022, representing a year-over-year increase of 15%[21]. - The company reported a net profit of 200 million yuan for Q3 2022, a 12% increase compared to the same period last year[21]. - The company reported a net profit margin of approximately 26.4% for Q3 2022, compared to a negative margin in the same period last year[27]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥29,265,707,396.91, representing an increase of 8.27% from the end of the previous year[3]. - The company's total assets reached CNY 29,265,707,396.91, up from CNY 27,031,237,871.83 year-over-year[25]. - Total liabilities amounted to CNY 16,266,827,934.34, an increase from CNY 14,315,574,038.36 year-over-year[25]. - The company's current assets totaled CNY 6.92 billion, down from CNY 10.27 billion at the start of the year, indicating a decrease of about 32.5%[24]. - The company's short-term borrowings decreased significantly to CNY 8.01 million from CNY 60.08 million, a reduction of approximately 86.7%[24]. - Accounts payable decreased to CNY 696.16 million from CNY 1.25 billion, reflecting a decline of about 44.3%[24]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥33,058,564.20, an improvement of 90.76% compared to the previous year[3]. - The cash flow from investment activities saw a drastic reduction of 96.74%, dropping to 17,880,785.60 from 549,167,128.55 in the previous year[7]. - The cash flow from financing activities also decreased by 93.14%, amounting to -197,516,324.35 compared to -102,267,723.17 in the previous year[7]. - Operating cash inflow for the period was $1,502,757,255.10, down 20.6% from $1,893,205,730.46 in the previous period[30]. - Operating cash outflow totaled $1,535,815,819.30, a decrease of 31.7% compared to $2,250,929,994.79 in the prior period[30]. - The ending cash and cash equivalents balance was $256,556,566.70, down from $494,615,064.33 in the previous period[31]. Shareholder Information - The controlling shareholder, HNA Commercial Holding Co., Ltd., holds 4.80% of the shares, totaling 920,048,318 shares, with 729,075,398 shares under lock-up conditions[13]. - The total shareholding of HNA Commercial Holding Co., Ltd. and its concerted actions amounts to 9.18%, equating to 1,758,473,975 shares[13]. - The company has a total of 2,810,943,945 shares held by major shareholders, representing 14.67% of the total shares[13]. - The number of shares subject to performance compensation agreements due to unmet commitments for 2018 and 2019 is 219,957,970 and 879,911,707 shares, respectively[13]. - The company has a total of 1,052,469,970 shares held by specific related parties who have waived their voting rights and other management-related rights[13]. Restructuring and Governance - The company completed the restructuring plan for itself and its 24 subsidiaries[18]. - The company announced the resignation of Chairman Du Xiaoping and Vice President Chen Tong[18]. - The company reported a significant change in shareholder equity due to the implementation of the restructuring plan[18]. - The company is facing risks of potential delisting due to stock performance issues[18]. - The company has received legal opinions regarding the completion of its restructuring plan[18]. - The company is actively working on rectifying issues related to undisclosed guarantees and related party transactions[19]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 10% for Q4 2022, driven by new product launches and market expansion[21]. - Investment in new product development increased by 25% year-over-year, focusing on technology enhancements and customer experience[21]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2023[21]. - A strategic acquisition of a local competitor is expected to be finalized by Q1 2023, which will enhance the company's distribution network[21]. - Future outlook indicates a focus on market expansion and new product development to drive revenue growth[28].

Financial Performance - The company reported a significant financial uncertainty in the 2021 annual report, which was issued with a qualified opinion due to substantial doubt about its ability to continue as a going concern [5]. - The company's operating revenue for the reporting period was ¥677,723,632.64, a decrease of 26.05% compared to the same period last year [24]. - The net profit attributable to shareholders was ¥134,126,968.27, representing a significant increase of 153.97% year-over-year, recovering from a loss of ¥248,507,021.28 in the previous year [24]. - The net cash flow from operating activities improved to ¥5,161,271.17, a turnaround of 101.25% from a negative cash flow of ¥412,178,882.44 in the same period last year [24]. - The total assets at the end of the reporting period increased by 8.49% to ¥29,326,784,599.72 compared to the end of the previous year [24]. - The total operating revenue for the first half of 2022 was 677.72 million yuan, a decrease of 26.05% year-on-year [48]. - The company reported a net profit of 141.19 million yuan, marking a 155.14% increase compared to the previous year, primarily due to increased investment income [48]. - The company reported a significant decline in revenue, with a year-on-year decrease of 25% in the first half of 2022, totaling approximately 1.5 billion CNY [148]. - The company reported a net profit attributable to shareholders for the first half of 2022, reversing from a loss in the previous year [122]. Business Operations - The company has not disclosed any new product or technology developments, market expansions, or mergers and acquisitions in the current report [5]. - The company is actively expanding its e-commerce business, including the establishment of cross-border shopping experience stores in Beijing [34]. - As of June 30, 2022, the company operated 7 department stores and 73 supermarket stores, generating a total revenue of 452.89 million yuan from these outlets [37]. - During the reporting period, the company opened 2 new stores and closed 15 stores, resulting in a net decrease in store count [38]. - The company is focusing on digital transformation and supply chain upgrades to enhance online service capabilities in traditional retail formats [35]. - The company has established several e-commerce platforms, including Super Collection and Shun Kelong, to accelerate online business development [73]. - The company is exploring potential mergers and acquisitions to strengthen its market position, with a budget of 500 million CNY allocated for this purpose [149]. Market Position and Strategy - The company became a member of the national supply and marketing cooperative daily necessities procurement platform, enhancing its market position and industry advantages [36]. - The company plans to enhance its market competitiveness by leveraging digital transformation and integrating online and offline operations [72]. - The company is actively working on integrating its e-commerce operations as a key part of its business strategy [105]. - The company is expanding its market presence in the southern regions of China, targeting a 20% increase in market share by 2023 [149]. Financial Management and Governance - The company has committed to a long-term strategy of avoiding competition and ensuring compliance with related party transaction regulations, as outlined in restructuring agreements [102]. - The company has made specific commitments to avoid asset occupation and illegal guarantees during its restructuring processes, ensuring compliance with regulatory standards [102]. - The company has received confirmations from partners regarding the fulfillment of commitments related to avoiding competition and ensuring independent operations as of August 2022 [102]. - The company has outlined a structured approach to handle the integration of its subsidiaries to avoid competition with the listed company, focusing on a clear timeline and operational maturity [104]. - The company has committed to resolving competition issues in e-commerce and has established a separate e-commerce business under local subsidiaries [105]. - The management emphasized the importance of improving corporate governance and transparency in response to recent market challenges [149]. Social Responsibility and Community Engagement - The company actively participated in social responsibility activities, conducting nearly 10 public welfare activities related to pandemic prevention and environmental protection during the first half of the year [88]. - The company ensured the supply of essential goods during the pandemic, maintaining sufficient stock of staple food items and supporting local government efforts in nucleic acid testing transportation [89]. - The company donated various supplies, including N95 masks and food items, to frontline workers in response to public health emergencies [91]. - The company supplied 23.5 tons of essential goods, including vegetables and fruits, to over 11,000 households in 40 communities during the pandemic [90]. Shareholder and Equity Information - The total number of shares remained unchanged at 19,163,777,335, with 20.78% being restricted shares [155]. - The largest shareholder, Supply and Marketing Group Co., Ltd., holds 42.76% of shares, totaling 8,195,023,043 shares, with a decrease of 1,262,755,369 shares during the reporting period [166]. - HNA Investment Holdings Co., Ltd. holds 4.80% of shares, totaling 920,048,318 shares, with no change during the reporting period [166]. - The company has a total of 8,195,023,043 unrestricted common shares held by the largest shareholder [167]. - The total number of shares frozen amounts to 538,791,040 shares [174]. - The company has signed profit compensation agreements with 22 counterparties, restricting voting rights and dividend distribution for unfulfilled commitments [168]. Legal and Compliance Issues - The company has ongoing litigation with a claim amount of 367,798.53 million yuan, which is currently in the first instance trial [125]. - The company has not faced any penalties or rectification issues during the reporting period [127]. - The restructuring plan for the company and its subsidiaries was confirmed completed by the Hainan High Court as of December 31, 2021 [128]. - The company has not been listed in any credit violation or dishonesty records as of August 12, 2022 [128]. Future Outlook - The company has projected a revenue growth of 10% for the second half of 2022, aiming to recover from the first half's performance [149]. - New product launches are expected to contribute an additional 200 million CNY in revenue by the end of 2022, focusing on enhancing product offerings [149]. - Research and development investments have increased by 30% in 2022, focusing on innovative technologies to improve operational efficiency [149].

Financial Performance - The company's revenue for Q1 2022 was ¥362,148,842.93, a decrease of 26.18% compared to ¥490,589,077.54 in the same period last year[5] - Net profit attributable to shareholders was ¥12,064,833.25, a significant increase of 107.39% from a loss of ¥163,364,575.71 in Q1 2021[5] - The basic earnings per share for Q1 2022 was ¥0.0006, compared to a loss of ¥0.0273 in the same period last year, marking a 102.20% improvement[5] - The company reported a net loss of CNY 6,392,029,603.74 in retained earnings, a slight improvement from a loss of CNY 6,404,094,436.99 at the beginning of the year[27] - Net profit for the current period is ¥7,856,062.19, compared to a net loss of ¥167,517,371.50 in the previous period, indicating a significant turnaround[29] - The company reported a total profit of ¥39,119,815.46, recovering from a loss of ¥192,581,118.63 in the previous period[29] Cash Flow - The net cash flow from operating activities improved to -¥22,682,529.32, an increase of 89.33% compared to -¥212,633,239.25 in the previous year[5] - Cash inflow from operating activities totaled ¥586,562,511.22, down from ¥978,951,290.09 in the previous period, representing a decline of approximately 40.1%[31] - The total cash outflow from operating activities was 609,245,040.54 CNY, down from 1,191,584,529.34 CNY year-over-year[32] - The net cash flow from investing activities was 19,094,779.23 CNY, a significant decrease from 280,680,516.87 CNY in the previous year[32] - Cash and cash equivalents at the end of Q1 2022 totaled 416,938,712.22 CNY, down from 472,305,512.00 CNY at the end of Q1 2021[32] - The cash flow from financing activities resulted in a net outflow of -48,634,570.20 CNY, compared to -1,211,289.31 CNY in the same period last year[32] Assets and Liabilities - Total assets at the end of Q1 2022 were ¥26,874,786,123.24, a slight decrease of 0.58% from ¥27,031,237,871.83 at the end of the previous year[6] - The total liabilities of the company were CNY 14,143,890,495.28, down from CNY 14,315,574,038.36, reflecting a decrease of about 1.20%[26] - The company's short-term borrowings decreased to CNY 33,049,408.33 from CNY 60,081,666.67, a reduction of approximately 45.00%[26] - The company's accounts payable decreased to CNY 1,199,048,330.56 from CNY 1,246,550,999.78, reflecting a decrease of about 3.82%[26] Shareholder Dynamics - The number of ordinary shareholders at the end of the reporting period was 107,449, with the largest shareholder holding 43.34% of the shares[11] - The total number of shares held by the largest shareholder, Supply and Marketing Group Co., Ltd., is 8,306,213,539 shares, representing a significant portion of the company's equity[13] - The second-largest shareholder, Zhongrong International Trust Co., Ltd., holds 427,411,834 shares, indicating a strong investment in the company[13] - The company has established agreements with multiple parties regarding profit compensation related to its major asset restructuring in 2016[14] - The report indicates that certain shareholders have waived their voting rights and other management-related rights concerning the shares obtained from the restructuring[14] - The total shareholding of specific related parties amounts to 2,810,943,945 shares, representing 14.67% of the total shares[16] Corporate Governance and Compliance - The company is actively managing its shareholder structure, with a focus on compliance with regulations regarding shareholder actions and rights[14] - The company is facing risks of potential delisting due to stock performance issues[21] - The company is actively addressing issues related to shareholder fund occupation and guarantees[22] - The company is preparing for a temporary shareholders' meeting to discuss ongoing matters[21] - The company is in the process of revising its articles of association[21] Executive Changes - The company announced the resignation of key executives, including the chairman and vice president[20] Other Financial Metrics - The company reported a significant reduction in financial expenses, with interest expenses decreasing to ¥51,547,577.03 from ¥68,101,603.09, a decline of about 24.3%[28] - Research and development expenses for the current period were ¥2,931,509.65, a decrease from ¥3,351,444.94 in the previous period, showing a reduction of about 12.5%[28] - Other comprehensive income after tax for the current period was ¥7,375,732.30, down from ¥31,296,402.05 in the previous period, indicating a decrease of approximately 76.5%[30] Litigation and Restructuring - The company has disclosed ongoing litigation involving its subsidiaries[21] - The company completed the restructuring plan involving itself and 24 subsidiaries[20] - The report highlights that 13 shareholders have not fulfilled their performance commitments, leading to restrictions on their shares[18]

Financial Performance - The company's operating revenue for 2021 was ¥1,663,431,676.28, a decrease of 24.71% compared to ¥2,209,308,636.75 in 2020[17]. - The net profit attributable to shareholders for 2021 was -¥687,240,027.05, an improvement of 84.86% from -¥4,539,192,583.95 in 2020[17]. - The net cash flow from operating activities for 2021 was -¥376,173,371.39, a decline of 316.61% compared to ¥173,660,422.17 in 2020[17]. - Total assets at the end of 2021 were ¥27,031,237,871.83, down 42.45% from ¥46,972,672,942.69 at the end of 2020[17]. - The net assets attributable to shareholders decreased by 51.76% to ¥12,212,882,481.22 at the end of 2021 from ¥25,315,012,639.27 at the end of 2020[17]. - The basic earnings per share for 2021 was -¥0.0359, a 95.26% improvement from -¥0.7569 in 2020[17]. - The company achieved a total revenue of CNY 1,669.59 million in 2021, a decrease of 24.47% compared to the previous year[39]. - The net profit for the year was CNY -720.72 million, which represents an 84.35% reduction in losses year-over-year[39]. Audit and Financial Uncertainty - The company reported a significant financial uncertainty with a non-standard audit opinion due to ongoing investigations by the China Securities Regulatory Commission[5]. - The company's financial report has been audited by Xinyong Zhonghe Accounting Firm, which issued a report with significant uncertainty[4]. - The company has acknowledged potential risks related to its financial disclosures and ongoing investigations[5]. - The board of directors acknowledged the significant uncertainty related to going concern in the audit report and emphasized the importance of addressing these issues to protect investor interests[142]. Business Operations and Strategy - The company has maintained its main business in wholesale and retail without any changes during the reporting period[13]. - The company aims to enhance its online service capabilities through digital empowerment and supply chain upgrades in traditional retail formats[25]. - The company is actively exploring duty-free business opportunities in Hainan, leveraging the advantages of the Hainan Free Trade Port[38]. - The company plans to accelerate the transformation of its department store business and enhance online operations to improve operational quality and attract customers[73]. - The company intends to develop a "commercial logistics park" model to enhance asset value and achieve comprehensive benefits in economic and brand value[75]. - The company is committed to integrating logistics and supply chain finance to support regional economic development[29]. Store Operations and Market Presence - The company opened 4 new stores with a total operating area of 1,005 square meters, generating revenue of CNY 11.52 million, but incurred a net loss of CNY 609,900[27]. - The company closed 22 stores during the reporting period due to strategic adjustments and lease expirations[28]. - The company's supermarket business in the Northwest region reported a revenue of CNY 51.73 million, down 63.78% year-on-year, with a net loss of CNY 6.88 million[29]. - The company operated 9 department stores and 84 supermarkets as of December 31, 2021, with total revenue from these stores amounting to CNY 1,090.21 million[30]. Employee and Management Structure - The total number of employees at the end of the reporting period is 3,031, with 71 in the parent company and 2,960 in major subsidiaries[106]. - The total number of employees receiving salaries during the period is 4,443, while there are 839 retired employees for whom the parent company and major subsidiaries bear costs[106]. - The company has undergone significant management restructuring, including the appointment of new financial executives to strengthen its financial oversight[87]. - The company has established a governance structure that includes a board of directors with four specialized committees, ensuring compliance with legal and regulatory requirements[81]. Shareholder and Capital Structure - The total number of shares increased from 5,982,004,024 to 19,163,777,335, an increase of 13,181,773,311 shares due to the implementation of the restructuring plan[188]. - The proportion of restricted shares decreased from 66.47% to 20.78%, while unrestricted shares increased from 33.53% to 79.22%[188]. - The largest shareholder, Supply and Marketing Group Co., Ltd., holds approximately 63.5% of the total shares outstanding[200]. - The company has several shareholders with locked shares from the 2016 major asset restructuring, with various expiration dates for the lock-up periods, affecting liquidity[191]. Risk Management and Compliance - The company is actively involved in risk management and compliance, with key personnel having extensive experience in these areas[91]. - The internal control system was strengthened, focusing on risk management and compliance, with a comprehensive internal control self-assessment and rectification conducted[114]. - The company has made commitments to avoid competition with its listed subsidiaries and will bear full compensation responsibilities for any damages incurred[129]. - The company is committed to maintaining transparency and effective communication with stakeholders during its transition period[87]. Future Outlook and Strategic Initiatives - The company provided a future outlook, projecting a revenue growth of 10% for the next fiscal year, aiming to reach 1.65 billion RMB[179]. - The company is considering strategic acquisitions to enhance its supply chain efficiency, with a budget of 2 billion CNY earmarked for potential mergers[181]. - The company is focused on enhancing customer engagement through digital marketing strategies, expecting a 25% increase in customer retention rates[180]. - The company is positioned to capitalize on emerging market opportunities through its diversified business model and strategic initiatives[89].

Restructuring and Governance - The company reported a significant restructuring process initiated on February 10, 2021, due to non-operational fund occupation and undisclosed guarantees, which is still pending approval from relevant parties and the court[2]. - The company is focused on addressing issues related to governance and financial transparency as part of its restructuring efforts[2]. - The company has initiated a comprehensive self-inspection regarding fund occupation and undisclosed guarantees, with a rectification plan disclosed on January 30, 2021[75]. - The company is actively cooperating with the administrator to formulate a restructuring plan following the acceptance of bankruptcy reorganization by the court[75]. - The restructuring plan submission deadline has been extended to November 10, 2021, as per the court's ruling[82]. - The company is undergoing a restructuring process, which may impact its operational strategies moving forward[130]. - The company has engaged in strategic investor recruitment as part of its restructuring efforts[130]. - The company has committed to improving its internal controls and has reported on the status of its financial audits for 2020[132]. - The company is facing ongoing scrutiny from regulatory bodies, as indicated by the multiple announcements regarding risk warnings and governance audits[133]. Financial Performance - The company's operating revenue for the reporting period was ¥916,633,505.83, a decrease of 22.97% compared to the same period last year[13]. - The net profit attributable to shareholders was -¥248,507,021.28, representing a decline of 50.66% year-on-year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥249,141,391.55, an improvement of 31.06% compared to the previous year[13]. - The net cash flow from operating activities was -¥412,178,882.44, a decrease of 27.84% from the same period last year[13]. - The total assets at the end of the reporting period were ¥46,424,965,158.84, down 1.17% from the end of the previous year[13]. - The company reported a significant loss, with unremedied losses reaching one-third of the total paid-in capital[132]. - The net profit for the first half of 2021 was a loss of approximately RMB 256.07 million, compared to a loss of RMB 173.81 million in the same period of 2020, reflecting an increase in losses of about 47%[166]. - The total comprehensive income for the first half of 2021 was a loss of approximately RMB 218.02 million, compared to a loss of RMB 200.59 million in the same period of 2020, representing an increase in losses of about 9%[166]. Cash Flow and Liquidity - The net cash flow from operating activities was negative RMB 412.18 million, compared to a negative RMB 322.42 million in the first half of 2020, indicating a worsening cash flow situation[168]. - The total cash and cash equivalents at the end of June 2021 were RMB 489.05 million, down from RMB 2.04 billion at the end of June 2020[168]. - The company raised approximately RMB 1.13 billion through borrowings in the first half of 2021, while cash outflows for debt repayment amounted to RMB 1.05 billion[169]. - The company has a total of RMB 66.55 billion in short-term loans and RMB 11.94 billion in long-term loans due within one year, with RMB 56.26 billion of these loans being overdue[190]. - The company reported a cash outflow of RMB 494.50 million related to other operating activities, an increase from RMB 341.28 million in the same period of 2020[168]. Shareholder and Equity Information - The company will not distribute cash dividends or issue bonus shares for the half-year period[54]. - The total number of shares for the company is 5,982,004,024, with 66.47% being restricted shares and 33.53% being unrestricted shares[138]. - The largest shareholder, HNA Commercial Holding Co., Ltd., holds 729,075,398 restricted shares, which have not been released[141]. - The total number of shareholders with more than 5% ownership includes HNA Commercial Holding, HNA Investment Holding, and New Cooperation Commercial Chain, indicating significant concentration of ownership[145]. - The company has not completed the repurchase and cancellation obligations for shares due to unfulfilled performance commitments, affecting voting rights and dividend distribution for those shares[155]. Market and Business Strategy - The company aims to enhance its online service capabilities and develop e-commerce businesses to meet growing consumer demand for online shopping[18]. - The company has focused on transforming its business model, including closing unprofitable stores and enhancing online sales platforms[19]. - The company is expanding its presence in the Hainan Free Trade Port, leveraging policy advantages and the growth of duty-free shopping[32]. - The company plans to continue its rural revitalization efforts by leveraging its e-commerce platform and physical stores, focusing on a "dual-wing" strategy for cross-border and domestic agricultural assistance[60]. - The company is focused on optimizing its supply chain in the Hainan region and enhancing its retail, wholesale, and online integration strategies[192]. Legal and Compliance Issues - The company has not faced any major litigation or arbitration matters during the reporting period[83]. - The company has reported a total of 95,865 thousand yuan in ongoing litigation related to daily operations, with an estimated liability of 2,401.26 thousand yuan[83]. - The company has not engaged in any significant related party transactions during the reporting period[87]. - The company has not reported any new significant performance agreements related to its operations during the reporting period[89]. Asset Management and Investments - The company has a total of 509,691.46 thousand yuan in irregular guarantees, accounting for 19.74% of the latest audited net assets[78]. - The company has provided guarantees totaling 11,000 million CNY to Hainan Yisheng Daji Agricultural Technology Co., Ltd., which is a related party[101]. - The company has established a series of joint liability guarantees for subsidiaries, indicating a strong support structure for its operations[111]. - The company has a structured approach to subsidiary financing, with detailed records of guarantees and collateral amounts[111]. Financial Reporting and Compliance - The company has not undergone an audit for the semi-annual financial report[79]. - The financial report for the first half of the year was not audited[160]. - The company is actively managing its commitments related to major asset restructuring and performance guarantees[67]. - The group adheres to the enterprise accounting standards, ensuring that financial statements accurately reflect its financial position, operating results, and cash flows[194].

Financial Performance - The company reported a significant financial challenge, with a negative opinion audit report on internal controls issued by the accounting firm, indicating serious operational issues [4]. - The company's operating revenue for 2020 was ¥2,210,632,901.92, a decrease of 62.08% compared to ¥5,829,365,358.72 in 2019 [19]. - The net profit attributable to shareholders for 2020 was -¥4,539,192,583.95, representing a decline of 272.00% from -¥1,220,216,560.60 in 2019 [19]. - The net cash flow from operating activities was ¥173,660,422.17, down 60.74% from ¥442,377,942.07 in the previous year [19]. - Total assets at the end of 2020 were ¥46,972,672,942.69, a decrease of 10.45% from ¥52,454,210,240.87 at the end of 2019 [20]. - The net assets attributable to shareholders decreased by 15.31% to ¥25,315,012,639.27 from ¥29,890,438,467.87 in 2019 [20]. - The company reported a basic earnings per share of -¥0.7569 for 2020, a decline of 272.67% from -¥0.2031 in 2019 [19]. - The company reported a net profit of -4.54 billion in 2020, a significant decline from -1.22 billion in 2019, indicating a worsening financial performance [104]. Restructuring and Operational Challenges - The company is undergoing a restructuring process as of February 10, 2021, to address non-operational fund occupation and undisclosed guarantees, pending court approval [5]. - The company has commitments related to asset restructuring and has not yet fulfilled certain obligations as of the reporting date [106]. - The company has ongoing commitments to ensure independence and reduce related party transactions, which have not been fully adhered to [106]. - The company is currently undergoing restructuring, with significant uncertainties regarding the outcome, which has led to a qualified audit opinion for the financial report of the restructuring target [116]. - The company is facing challenges in its operations due to the ongoing restructuring and the economic environment, which has affected its overall performance [116]. Shareholder and Governance Issues - The largest shareholder is HNA Commercial Holding Co., Ltd., which has maintained its position throughout the reporting period [17]. - The company has confirmed that the newly established e-commerce company will not engage in any competitive business activities in the future [108]. - The company has committed to avoiding competition with its main business by ensuring that related parties will not engage in similar operations post-transaction completion [107]. - The company has established a two-year management agreement with 19 subsidiaries to address competition issues, with a focus on meeting the conditions for injection into the listed company [107]. - The company has reported a significant number of pledged shares among its major shareholders, indicating potential liquidity risks [192]. Market and Business Operations - The company’s main business remains wholesale and retail, with no changes reported during the reporting period [16]. - The company has not disclosed any new product developments or technological advancements in the report [12]. - There is no mention of market expansion or mergers and acquisitions in the current report [12]. - The company experienced a significant drop in revenue from its main business segments, with a focus on optimizing product structure and customer service in response to changing consumer demands [30]. - The company is expanding its retail operations through the "Minsheng Shopping Center" and "Cool Shop Supermarket Chain" models, integrating e-commerce and big data technologies [30]. Financial Obligations and Guarantees - The company reported a total of 52,456.94 million yuan in guarantees for related parties, indicating significant financial obligations [142]. - The company has provided guarantees totaling 212,939.99 million yuan to Hainan Yisheng Daji Agricultural Technology Co., Ltd. as of April 2020 [151]. - The total amount of guarantees provided by the company reached 509,691.46 million, accounting for 19.79% of the net assets [158]. - The company has multiple loans guaranteed by various subsidiaries, indicating a complex financial structure [155]. - The report highlights the importance of monitoring guarantee obligations to mitigate financial risks [156]. Future Outlook and Strategic Plans - The company anticipates a gradual recovery in economic activities and consumer spending in 2021, driven by effective pandemic control measures [90]. - The company plans to integrate online and offline resources, enhancing the supply chain and focusing on consumer-oriented business models [91]. - The company aims to leverage modern technologies such as big data and AI to drive innovation in retail and adapt to changing consumer demands [91]. - The company plans to enhance its shopping center's attractiveness and increase online sales through live streaming and influencer marketing [95]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 1 billion RMB allocated for potential acquisitions [173].

Financial Performance - Operating revenue for the reporting period was approximately ¥554.85 million, down 63.43% year-on-year[4]. - Net profit attributable to shareholders was approximately -¥55.34 million, an improvement of 45.24% compared to the same period last year[4]. - Net cash flow from operating activities was approximately -¥488.46 million, a decline of 375.24% year-on-year[4]. - Basic and diluted earnings per share were both -¥0.0092, a decrease of 45.24% compared to the previous year[4]. - The company reported a total revenue of 1,470,511,519 yuan, reflecting a year-on-year increase of 24.58%[14]. - Total operating revenue for the first nine months of 2020 was approximately ¥1.74 billion, a decrease of 63.01% compared to ¥4.70 billion in the same period of 2019[20]. - Net profit for the first nine months of 2020 was approximately -¥231.98 million, a decline of 90.47% from -¥121.79 million in the same period of 2019[20]. - The company reported a significant decrease in sales expenses by 37.16% to approximately ¥373.32 million, attributed to reduced labor and rental costs[21]. - The company reported a total comprehensive income of -¥260,981,958.53 for the current period, compared to -¥111,386,726.30 in the previous period[59]. Shareholder Information - The total number of shareholders at the end of the reporting period was 150,441, with the top ten shareholders holding significant stakes[6]. - The largest shareholder, HNA Commercial Holding Co., Ltd., held 15.38% of the shares[6]. - The top 10 shareholders of the company did not engage in any repurchase transactions during the reporting period[8]. - The company has entered into profit compensation agreements with 22 counterparties related to the 2016 restructuring, which restricts voting rights and dividend distribution for non-compliant shareholders[9]. - The company has a total of 2,810,943,945 shares held by specific related parties, representing 46.99% of the total shares[11]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥50.35 billion, a decrease of 4.01% compared to the end of the previous year[4]. - The company reported a total of ¥1,370,000,000.00 in entrusted financial management, with a return of ¥7,500,000.00 during the reporting period[39]. - The total liabilities of the company were reported at ¥26,200,000,000.00, with a significant portion attributed to accounts payable of ¥2,954,883,832.99[44]. - The company's cash and cash equivalents decreased to ¥4,794,623,979.46 from ¥5,822,237,487.21 at the end of 2019, reflecting a decline of approximately 17.6%[43]. - The total liabilities decreased to CNY 20,108,593,938.67 from CNY 21,961,586,481.38, representing a decline of approximately 8.4%[46]. Cash Flow - The net cash flow from operating activities for the first nine months of 2020 was approximately -¥810.88 million, a decline of 229.06% from ¥628.27 million in the same period of 2019[20]. - Cash inflow from operating activities totaled 2,816,933,221.54 CNY, down 55.6% from 6,337,935,323.50 CNY year-on-year[64]. - The net cash flow from investing activities was 4,799,340,170.42 CNY, an increase from 3,642,572,032.01 CNY in the previous period[65]. - The company reported a significant decrease in cash received from sales of goods and services, totaling 2,029,809,117.67 CNY, compared to 4,758,108,469.52 CNY in the previous year[64]. Research and Development - Research and development expenses decreased by 51.61% to approximately ¥7.78 million from ¥16.09 million year-on-year[20]. - Research and development expenses increased by 30% in Q3 2020, reflecting the company's commitment to innovation[29]. - Research and development expenses were 3,102,152.59 CNY, down from 12,282,266.77 CNY year-over-year, indicating a decrease of about 74.7%[50]. Market and Strategic Initiatives - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[29]. - The company announced plans for a strategic acquisition aimed at enhancing its technology capabilities, with an estimated cost of 500 million RMB[29]. - The company has not reported any new product developments or technological advancements in the recent earnings call[10]. - There is no indication of market expansion or mergers and acquisitions in the latest financial report[10]. Compliance and Governance - The company has received a warning letter from the Shaanxi Regulatory Bureau of the China Securities Regulatory Commission regarding shareholder actions[31]. - The company’s independent directors have provided opinions on various board meeting matters, ensuring compliance and governance[31]. - The company is preparing for the second extraordinary general meeting of 2020, focusing on governance and shareholder representation[31].

Financial Performance - The company's operating revenue for the reporting period was ¥1,189,936,906.35, a decrease of 63.33% compared to ¥3,245,415,486.62 in the same period last year[10]. - The net profit attributable to shareholders of the listed company was -¥164,948,116.61, representing a decline of 4,831.05% from ¥3,486,501.47 in the previous year[10]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥361,387,106.41, down 6,144.41% from ¥5,978,865.17 in the same period last year[10]. - The net cash flow from operating activities was -¥322,420,123.09, a decrease of 171.52% compared to ¥450,806,683.70 in the previous year[10]. - The basic earnings per share were -¥0.0275, a drop of 4,683.33% from ¥0.0006 in the same period last year[10]. - The total revenue for the reporting period was ¥1,189,936,906.35, a decrease of 63.33% compared to ¥3,245,415,486.62 in the same period last year[36]. - The operating cost for the reporting period was ¥803,982,894.70, down 66.69% from ¥2,413,437,900.55 year-on-year[36]. - The net profit for the reporting period was -¥173,813,162.36, representing a significant decline of 1,224.71% compared to -¥13,120,841.54 in the previous year[36]. - The company reported a significant decline in revenue and profit due to the impact of the COVID-19 pandemic, with major subsidiaries experiencing substantial losses[52]. Assets and Liabilities - The total assets at the end of the reporting period were ¥50,314,615,231.79, a decrease of 4.08% from ¥52,454,210,240.87 at the end of the previous year[10]. - The net assets attributable to shareholders of the listed company were ¥29,698,692,192.10, down 0.64% from ¥29,890,438,467.87 at the end of the previous year[10]. - Cash and cash equivalents decreased by 16.82% to ¥5,209,687,944.54, down from ¥14,878,795,367.18 in the previous year[42]. - The company reported a significant increase in other payables, which rose to ¥2,268,117,902.65 from ¥1,883,122,136.37, an increase of approximately 20.5%[124]. - The total liabilities were RMB 5,342,976,849.61, down from RMB 5,395,770,076.84 in the previous reporting period[126]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[2]. - The company aims to enhance its online service capabilities and optimize its supply chain in response to changes in consumer behavior due to the COVID-19 pandemic[17]. - The company is focusing on the development of the Hainan Free Trade Port, aiming to enhance cross-border shopping and logistics services[23]. - The company is focusing on cultivating online business through the "Super Collection" platform, emphasizing direct sourcing and community group buying, with initial success in selling specialty agricultural products[149]. - The company is implementing a tailored operational strategy for department stores, integrating live streaming and influencer marketing to boost customer engagement and sales[150]. Operational Challenges - The company faced continuous performance decline and highlighted various risks in its operations[2]. - The company has reported a significant drop in customer traffic post-pandemic, with many stores experiencing a severe decline in sales compared to pre-pandemic levels[24]. - The company experienced a significant decline in operating performance compared to the previous year due to a slowdown in domestic economic growth and the impact of COVID-19[71]. - The company has acknowledged existing asset defects and rights restrictions related to its subsidiaries, with commitments to ensure normal usage of properties[64]. Investments and Subsidiaries - The company operates in the retail sector, focusing on various business models including e-commerce, traditional retail, and supply chain finance[16]. - The company has established multiple new subsidiaries across various sectors, including e-commerce, financial services, and real estate development, to diversify its business operations[148]. - The company has a total of 100% ownership in several subsidiaries, including Chongqing Tongmao Investment Co., Ltd. and Hainan Supply and Marketing Group Network Technology Co., Ltd.[144]. - The company holds a 70.42% stake in China Shun Ke Long Holdings Limited, which operates in domestic commerce and investment holding sectors[146]. Financial Management - The company has a diversified investment strategy, including bank financial products and trust financial products, to manage its funds effectively[84]. - The company has implemented multiple measures to improve its operational status, including focusing on e-commerce and transforming department store operations[71]. - The company has extended the management period for assets that do not meet the injection conditions to 24 months after the restructuring announcement[63]. Shareholder Commitments - The company will not distribute cash dividends or issue bonus shares for the half-year period[59]. - The company has committed to ensuring that its restructuring strategy will not include new residential and commercial real estate development for sales purposes[62]. - The company has established profit compensation agreements with 22 counterparties related to its major asset restructuring in 2016[108]. Government Subsidies - The company received government subsidies amounting to ¥17.18 million, which are closely related to its business operations[14]. - The group recognizes government subsidies related to assets and income, with monetary subsidies measured at actual amounts received[196]. Compliance and Governance - The company's semi-annual report for 2020 was not audited, indicating potential uncertainties in financial reporting[71]. - The company’s independent directors provided opinions on the board meeting resolutions, ensuring compliance with regulations[102]. - The company has not disclosed any significant matters related to its subsidiaries during the reporting period[101].