海南海德资本管理股份有限公司 2021 年第一季度报告全文 证券代码：000567 证券简称：海德股份 公告编号：2021-019号 海南海德资本管理股份有限公司 2021 年第一季度报告 2021 年 04 月 1 海南海德资本管理股份有限公司 2021 年第一季度报告全文 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、误导性陈述或者重大遗漏，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。 公司负责人王广西、主管会计工作负责人史红云及会计机构负责人(会计主 管人员)马琳声明：保证季度报告中财务报表的真实、准确、完整。 2 海南海德资本管理股份有限公司 2021 年第一季度报告全文 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 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|-- ...

Financial Performance - Operating income for the period was ¥81,347,962.81, representing a decrease of 26.52% year-on-year[8] - Net profit attributable to shareholders was ¥38,409,235.62, down 24.16% compared to the same period last year[8] - The net profit after deducting non-recurring gains and losses was ¥41,547,503.39, a decrease of 19.42% year-on-year[8] - Basic earnings per share were ¥0.0599, down 24.18% from the same period last year[8] - The weighted average return on net assets was 0.89%, a decrease of 0.30 percentage points year-on-year[8] - Total operating revenue for the current period is ¥81,347,962.81, down 26.5% from ¥110,709,524.98 in the previous period[65] - Net profit for the current period is ¥38,409,235.62, a decrease of 24.1% compared to ¥50,644,070.22 in the previous period[68] - Total profit for the current period is ¥42,767,294.63, down 24.4% from ¥56,586,407.45 in the previous period[68] - The company reported a comprehensive income total of ¥115,703,987.91, down 24.5% from ¥153,237,857.98 in the previous period[79] Cash Flow - Net cash flow from operating activities was ¥44,194,495.72, a significant decline of 61.65% compared to the previous year[8] - The net cash flow from operating activities improved by 55.30%, reaching -¥82,224,250.96, compared to -¥183,966,952.72 in the previous year[23] - Operating cash inflow for the current period was ¥340,799,462.23, a significant decrease of approximately 81.4% compared to ¥1,833,979,296.10 in the previous period[86] - The net cash flow from financing activities was -¥131,621,208.03, a decline from a positive cash flow of ¥265,381,614.02 in the previous period[89] - The total cash and cash equivalents at the end of the period decreased to ¥1,067,099,603.35 from ¥1,373,089,902.00 in the previous period[89] Assets and Liabilities - Total assets at the end of the reporting period reached ¥6,092,233,318.36, an increase of 1.19% compared to the end of the previous year[8] - The company's total current assets reached ¥5,546,299,349.72, up from ¥5,085,330,554.85, indicating an increase of approximately 9.08%[47] - Current liabilities totaled ¥1,068,202,270.08, up from ¥1,054,503,801.60, indicating a growth of 1.4%[54] - Non-current liabilities decreased to ¥678,062,506.63 from ¥736,100,046.82, a reduction of 7.9%[54] - The total liabilities decreased to ¥1,746,264,776.71 from ¥1,790,603,848.42, a decrease of 2.5%[54] Investments - The company reported a 460.14% increase in investment income to ¥13,933,126.06, compared to a loss of ¥3,868,780.36 in the same period last year[23] - Long-term equity investments increased by 59.46% to ¥146,011,265.21, attributed to investments in partnerships for managing non-performing assets[23] - The company reported a net loss of ¥3,808,423.35 from its securities investments during the reporting period[36] - The total initial investment cost for securities was ¥73,318,756.79, with a fair value change loss of ¥41,937,731.71 reported[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,058[12] - The largest shareholder, Yongtai Group Co., Ltd., held 65.80% of the shares, with 421,898,926 shares[12] Operating Expenses - The company reported a 69.75% increase in operating expenses to ¥3,400,412.41, largely due to donations made for COVID-19 prevention efforts[23] - Total operating costs increased to ¥40,672,227.10 from ¥38,078,815.97, representing a rise of 6.9%[65] Financial Expenses - Financial expenses surged by 83.85% to ¥61,736,096.81, primarily due to increased interest expenses from financial institution borrowings[23] - Financial expenses increased significantly to ¥20,672,402.90 from ¥13,827,393.44, marking a rise of 49.5%[65] Legal Matters - The company has ongoing litigation related to debt recovery from Zhongfu Industrial and Zhongfu Aluminum, with significant amounts involved[26][27] Other Information - Government subsidies recognized in the current period amounted to ¥7,546,574.32[8] - The company did not engage in any derivative investments during the reporting period[37] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[41][42] - The company has not conducted any research, communication, or interview activities during the reporting period[43] - The company anticipates a significant change in net profit compared to the previous year, but specific figures were not disclosed[40]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥157,809,839.32, a decrease of 14.66% compared to ¥184,927,045.32 in the same period last year[23]. - The net profit attributable to shareholders was ¥77,294,752.29, down 24.66% from ¥102,593,787.76 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was ¥73,893,753.31, a decline of 28.34% compared to ¥103,112,615.92 in the previous year[23]. - Basic earnings per share decreased to ¥0.1206, down 24.63% from ¥0.1600 in the previous year[23]. - The company achieved operating revenue of 157.81 million yuan, a decline of 14.66% year-on-year[41]. - The net profit attributable to the parent company was 77.29 million yuan, down 24.66% from the same period last year[41]. - The company's net profit increased to ¥287,649,304.57 from ¥210,354,552.28, showing a growth of 36.77%[200]. Cash Flow and Assets - The net cash flow from operating activities improved to -¥126,418,746.68, a 57.75% increase from -¥299,207,361.37 in the same period last year[23]. - Total assets at the end of the reporting period were ¥5,984,193,189.40, a decrease of 0.61% from ¥6,020,868,402.16 at the end of the previous year[23]. - The company's cash and cash equivalents decreased to ¥1,064,743,476.51 from ¥1,296,448,367.51, representing a decline of 17.88%[193]. - As of June 30, 2020, the total current assets amounted to ¥4,903,037,495.36, a decrease of 3.58% from ¥5,085,330,554.85 on December 31, 2019[196]. - The total liabilities decreased to ¥1,676,633,883.37 from ¥1,790,603,848.42, a reduction of 6.36%[200]. - The company's total non-current assets increased to ¥1,081,155,694.04 from ¥935,537,847.31, an increase of 15.59%[196]. Investments and Subsidiaries - The company increased its equity investments by 51.2 million yuan, primarily due to investments in partnerships for non-performing asset management[42]. - The company reported a total asset management scale of 32.75 billion RMB as of June 30, 2020, with a stock asset management scale of 24.48 billion RMB[54]. - The total assets of the subsidiary Haide Asset Management Co., Ltd. are approximately ¥6.21 billion, with a net profit of ¥81.73 million, contributing significantly to the company's overall performance[80]. - The company’s wholly-owned subsidiary plans to invest CNY 200 million to establish a limited partnership for acquiring non-performing assets from 97 companies, including Rizhao Aye Mountain Aquatic Food Co., Ltd.[153]. Debt and Liabilities - The company’s total liabilities included short-term borrowings of 845 million RMB, a decrease of 3.63% year-on-year[63]. - The company’s long-term borrowings increased significantly to 706.71 million RMB, reflecting an increase in long-term debt from the previous year[63]. - The controlling shareholder, Yongtai Group, has outstanding financial institution loans of 7.031 billion yuan and 1 billion yuan in interbank market products that have not been settled as of the reporting period[122]. Regulatory and Compliance - The company has established a comprehensive risk management and internal control system to safeguard long-term healthy development[48]. - The company plans to enhance its risk management and internal control systems to cope with the strict regulatory environment in the distressed asset management industry[86]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[146]. - The company has committed to operate in the secondary market without manipulating or influencing stock prices[108]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[7]. - The total number of shares is 641,138,926, with 66.02% held as restricted shares[157]. - The largest shareholder, Yongtai Group Co., Ltd., had 420,702,066 shares frozen, indicating a significant portion of its holdings are under restriction[161]. - The company did not implement any equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[123]. Social Responsibility and Community Engagement - The company signed a joint implementation agreement for targeted poverty alleviation with the People's Government of Nima County, Tibet, to support poverty alleviation efforts[146]. - The company invested CNY 3 million in poverty alleviation projects, focusing on developing industries to improve the income structure of local farmers[148]. - The company plans to continue its poverty alleviation efforts in collaboration with the local government to promote sustainable economic development in Rongma Township[149].

Financial Performance - The company's operating revenue for 2019 was ¥307,282,377.08, a decrease of 9.33% compared to ¥338,884,725.17 in 2018[24] - The net profit attributable to shareholders for 2019 was ¥110,344,959.28, down 8.52% from ¥120,627,881.06 in 2018[24] - Basic earnings per share for 2019 were ¥0.1721, representing a decrease of 23.58% from ¥0.2252 in 2018[24] - The weighted average return on net assets for 2019 was 2.64%, a decrease of 1.19 percentage points from 3.83% in 2018[24] - The company’s operating income for 2019 was ¥30,728.24 million, a decrease of 9.33% year-on-year, while the net profit attributable to the parent company was ¥11,034.50 million, down 8.52%[47] - In Q1 2019, the company reported operating revenue of ¥66,901,123.25, which increased to ¥118,025,922.07 in Q2, but dropped to ¥11,645,806.78 in Q4[30] - The net profit attributable to shareholders was ¥33,563,069.57 in Q1, peaked at ¥69,030,718.19 in Q2, and fell to a loss of ¥42,892,898.70 in Q4[30] - The net cash flow from operating activities was -¥706,770,834.34, a decline of 4.91% compared to -¥673,714,323.95 in 2018[24] Assets and Liabilities - Total assets at the end of 2019 were ¥6,020,868,402.16, an increase of 19.20% from ¥5,050,863,977.78 at the end of 2018[27] - Net assets attributable to shareholders at the end of 2019 were ¥4,230,264,553.74, up 2.15% from ¥4,141,143,504.30 at the end of 2018[27] - The company’s total liabilities increased, with short-term borrowings rising to 845,000,000.00 yuan, reflecting a 17.36% increase compared to the previous year[88] - The company reported a total of ¥1,749,933,468.23 in financial assets at the beginning of the period, with a fair value change gain of ¥2,520,293.70 during the period[95] - The total amount of financial assets at the end of the period was ¥2,106,612,044.60 after accounting for purchases of ¥1,155,555,903.00 and sales of ¥821,047,352.23[95] Business Focus and Strategy - The company has shifted its main business focus to non-performing asset management since 2016, moving away from real estate[22] - The company focuses on non-performing asset acquisition and management, which is its main business and source of profit[39] - The non-performing asset industry in China is estimated to have expanded to nearly ¥4 trillion, providing significant growth opportunities for the company[46] - The company plans to accelerate the establishment of regional branches and strengthen relationships with banks and financial institutions to enhance market competitiveness in the non-performing asset sector[113] - The company aims to expand its debt restructuring business, particularly targeting high-debt enterprises in strategic emerging industries and small to medium-sized enterprises[114] - The market-oriented debt-to-equity swap business is identified as a key focus area, supported by national policies aimed at reducing corporate leverage[119] Risk Management - The company has established a comprehensive risk management and internal control system to effectively prevent business and operational risks[57] - The company aims to strengthen risk management by enhancing awareness and improving the risk management system as a prerequisite for high-quality development[125] - The company faces significant policy risks due to its reliance on macroeconomic policies and regulatory changes affecting the non-performing asset management industry[127] - Increased competition from state-owned asset management companies and new entrants poses a market competition risk, especially with the recent allowance for U.S. investment firms to apply for licenses in this sector[127] - The company acknowledges operational risks related to regulatory compliance and internal control, necessitating improvements to its risk management and compliance systems[130] Shareholder Relations and Governance - The company plans not to distribute cash dividends or issue bonus shares[7] - The company has committed to avoiding competition with its controlling shareholder, Yongtai Holdings, by ensuring that any real estate development projects not yet signed will be offered to Haide Co. first, allowing Haide Co. to decide whether to proceed with them[142] - Yongtai Holdings has pledged to maintain the independence of Haide Co. post-transaction, ensuring independent personnel, assets, business operations, and financial management[142] - The company guarantees that it will not occupy Haide Co.'s funds, assets, or other resources, ensuring Haide Co. can operate independently[145] - The company has committed to providing timely and accurate information regarding major asset restructuring to all relevant parties[145] Economic Environment - The overall economic environment in China showed a GDP growth of 6.1% in 2019, but a gradual slowdown is expected due to the impact of the COVID-19 pandemic[108] - By the end of 2019, the balance of non-performing loans in commercial banks reached 2.41 trillion yuan, with a non-performing loan ratio of 1.86%, indicating a high level of bad debt[110] - The total asset management scale of non-bank financial institutions was approximately 60.97 trillion yuan, with an estimated bad debt of 1.13 trillion yuan within these institutions[110] - The number of defaulted bonds in 2019 increased to 148, involving an amount of 113.6 billion yuan, reflecting a rising trend in bad assets[112] Compliance and Internal Controls - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[158] - The company has ensured compliance with market regulations and has committed to not manipulating stock prices[155] - The company has not faced any major accounting errors that require retrospective restatement during the reporting period[163] - There were no changes in the scope of the consolidated financial statements compared to the previous year[164] - The company has not experienced any bankruptcy reorganization matters during the reporting period[165] Miscellaneous - The company reported a cash dividend of ¥21.22 million in 2018, which accounted for 17.59% of the net profit for that year[138] - The company has not proposed any cash dividends or capital reserve transfers for the 2019 fiscal year[139] - The company did not engage in any significant asset or equity sales during the reporting period[101] - The company emphasizes the protection of shareholder and creditor rights as a fundamental social responsibility[199] - The company has established a complete information disclosure channel to ensure transparency and fairness in its communications with investors[200]

海南海德实业股份有限公司 2020 年第一季度报告全文 证券代码：000567 证券简称：海德股份 公告编号：2020-023号 海南海德实业股份有限公司 2020 年第一季度报告 2020 年 04 月 1 海南海德实业股份有限公司 2020 年第一季度报告全文 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、误导性陈述或者重大遗漏，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。 公司负责人王广西、主管会计工作负责人史红云及会计机构负责人(会计主 管人员)马琳声明：保证季度报告中财务报表的真实、准确、完整。 2 海南海德实业股份有限公司 2020 年第一季度报告全文 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 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------- ...

Financial Performance - Operating revenue for the reporting period reached CNY 110,709,524.98, a 36.28% increase year-on-year[9] - Net profit attributable to shareholders increased by 96.11% to CNY 50,644,070.22 for the reporting period[9] - Basic earnings per share rose by 96.03% to CNY 0.0790[9] - The total profit for the current period is 50,644,070.22, compared to 25,824,027.44 in the previous period, representing a growth of 96.3%[57] - The net profit attributable to the parent company is 50,644,070.22, up from 25,824,027.44, indicating a significant increase of 96.3%[57] - Basic and diluted earnings per share for the current period are both 0.0790, compared to 0.0403 in the previous period, reflecting an increase of 96.3%[57] - The total comprehensive income for the current period is 50,644,070.22, compared to 25,824,027.44 in the previous period, reflecting a growth of 96.3%[57] - The net profit for the current period is 153,237,857.98, up from 76,345,684.12 in the previous period, reflecting a growth of approximately 100.9%[71] - Basic and diluted earnings per share for the current period are both 0.2390, compared to 0.1525 in the previous period, representing an increase of 56.8%[71] Asset and Liability Changes - Total assets increased by 8.39% to CNY 5,474,407,955.48 compared to the end of the previous year[9] - The total liabilities of the company reached ¥1,201,250,501.56, compared to ¥909,720,473.48 at the end of 2018, indicating an increase in leverage[42] - The company's total current assets were ¥3,968,352,555.93, a decrease from ¥4,753,129,856.50 at the end of 2018[37] - The company's equity attributable to shareholders increased to ¥4,273,157,453.92 from ¥4,141,143,504.30 year-over-year[42] - The company's short-term borrowings increased by 34.23% to ¥966,600,000.00 from ¥720,120,462.57 year-on-year[18] - The company reported a significant increase in other receivables, which rose by 244.39% to ¥13,383,123.65 from ¥3,886,027.73 in the previous year[18] - The company's deferred tax assets increased by 78.40% to ¥3,107,944.49 from ¥1,742,154.31 year-on-year, mainly due to an increase in asset impairment provisions[18] - Total liabilities decreased from CNY 811,668,556.71 to CNY 735,634,243.71, a reduction of approximately 9.36%[50] - The company's cash and cash equivalents increased to ¥1,373,089,902.00 from ¥1,245,908,865.30 year-over-year[37] Cash Flow Analysis - Cash flow from operating activities showed a net outflow of CNY 183,966,952.72, improving by 78.55% compared to the same period last year[9] - The company reported a net cash flow from operating activities of -¥183,966,952.72, an improvement of 78.55% compared to -¥857,645,126.42 in the previous year[20] - The net cash flow from operating activities was 502,053,185.83, compared to 809,559,539.77 in the prior period[88] - The net cash flow from investing activities was 43,684,375.40, a significant improvement from -4,958,036.27 in the previous period[84] - The net cash flow from financing activities was 265,381,614.02, down from 2,651,608,498.72 in the previous period[84] - The ending balance of cash and cash equivalents was 1,081,431.30, down from 5,790,131.28 in the previous period[88] Shareholder Information - The total number of shareholders at the end of the reporting period was 25,843[12] - The largest shareholder, Yongtai Group Co., Ltd., holds 65.80% of the shares, amounting to 421,898,926 shares[12] - There were no significant changes in the company's shareholding structure or any repurchase transactions during the reporting period[12] Operational Insights - The company plans to focus on market expansion and new product development in the upcoming quarters[49] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[33] - The company has not conducted any research, communication, or interview activities during the reporting period[31] Miscellaneous - The company reported a non-recurring loss of CNY 1,435,947.72 during the reporting period[9] - The company has no derivative investments or entrusted financial management during the reporting period[29][30] - The third quarter report was not audited, indicating potential implications for financial reliability[112]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 184,927,045.32, representing an increase of 11.25% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 102,593,787.76, a significant increase of 103.07% year-on-year[23]. - Basic earnings per share increased to CNY 0.1600, up 36.29% from the previous year[23]. - The weighted average return on net assets was 2.45%, an increase of 0.14 percentage points compared to the previous year[23]. - The company achieved asset management business revenue of CNY 18,477,560 in the first half of 2019[32]. - The net profit attributable to the parent company reached CNY 10,259.38 million, a significant increase of 103.07% year-on-year, primarily due to the continuous development of asset management business[42]. Cash Flow and Assets - The net cash flow from operating activities improved to CNY -299,207,361.37, showing an 83.20% reduction in cash outflow compared to the previous year[23]. - Cash flow from operating activities improved significantly, with a net cash flow of CNY -299,207,361.37, an 83.20% increase compared to the previous year[43]. - The total assets of the company at the end of the reporting period were CNY 5,446,775,784.78, reflecting a growth of 7.84% from the end of the previous year[23]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,244,646,495.36, representing 22.85% of total assets, an increase from 17.45% in the same period last year[51]. - The company’s cash and cash equivalents net increase was CNY 56,865,630.06, a decrease of 94.03% compared to the previous year, primarily due to last year's non-public stock issuance[43]. Debt and Liabilities - Short-term borrowings decreased to ¥966,600,000.00, accounting for 17.75% of total assets, down from 27.80% year-on-year, primarily due to repayments made in the second half of last year[51]. - Long-term borrowings increased to ¥161,280,000.00, representing 2.96% of total assets, up from 0.40% year-on-year, indicating a rise in long-term financing[51]. - The company’s debt investment increased by CNY 1,338,790,022.63, attributed to the reclassification of receivable investments under new financial instrument accounting standards[34]. - Total liabilities increased to $1,224,262,391.45 from $909,720,473.48, representing a growth of approximately 34.5%[200]. - Current liabilities totaled $1,062,958,517.58, up from $886,029,040.75, reflecting an increase of approximately 19.9%[200]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The company’s total equity rose to $4,222,513,393.33 compared to $4,141,143,504.30, indicating an increase of about 2%[200]. - The company completed its 2018 annual profit distribution, distributing 0.48 RMB per share and increasing capital by 4.5 shares for every 10 shares held[136]. - The registered capital of the company increased from 442,164,777 RMB to 641,138,926 RMB following the approval of the revised articles of association[136]. - The total number of shares increased from 442,164,777 to 641,138,926 after a capital reserve conversion, representing a 45% increase[146]. Regulatory Compliance and Governance - The company plans to maintain compliance with regulatory requirements and improve risk management and internal controls as the business scales[70]. - The company is committed to maintaining its operational independence and ensuring compliance with relevant laws and regulations following recent equity changes[79]. - The company has committed to maintaining a complete and independent organizational structure, separating its operations from related enterprises[81]. - The company has pledged to avoid any business activities that would compete with its own operations, ensuring no conflicts with related enterprises[84]. - The company has committed to transparency and compliance with all relevant regulatory frameworks in its operations[88]. Legal Matters - The company has a pending lawsuit involving a debt restructuring principal of 40 million yuan, with a court hearing held on October 31, 2018, and a first-instance verdict concluded on January 10, 2019[102]. - The company is involved in another lawsuit concerning a debt restructuring principal of 360 million yuan, with a first-instance settlement reached on January 17, 2019[102]. - The controlling shareholder, Yongtai Group, has 5.774 billion yuan in financial institution borrowings that are overdue and 1 billion yuan in interbank market products that have not been redeemed[106]. Strategic Initiatives - The company is actively promoting debt-to-equity swap business and other innovative investments[32]. - The company is positioned to capitalize on the ongoing golden period for non-performing asset management over the next three to five years, driven by structural changes in the economy[42]. - The company aims to enhance its talent acquisition strategy to address the increasing demand for skilled professionals in the distressed asset management sector[72]. - The company has established a private equity fund, Huadu No. 1, with a focus on investments in New Third Board stocks[66]. Miscellaneous - The company has not engaged in any significant asset or equity sales during the reporting period[64]. - The company has not undergone any bankruptcy restructuring during the reporting period[99]. - The semi-annual financial report has not been audited[98]. - The company has not implemented any employee incentive plans during the reporting period[107].

Financial Performance - The company's operating revenue for Q1 2019 was ¥66,901,123.25, a decrease of 19.94% compared to ¥83,558,950.37 in the same period last year[9] - Net profit attributable to shareholders was ¥33,563,069.57, representing an increase of 46.48% from ¥22,912,861.29 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥32,469,976.48, up 46.02% from ¥22,237,318.31 in the previous year[9] - Basic earnings per share decreased by 49.90% to ¥0.0759 from ¥0.1515 in the previous year[9] - The company reported a 64.94% increase in income tax expenses to ¥6,020,263.95, correlating with an increase in total profit[24] - Total operating revenue for the current period is ¥66,901,123.25, a decrease of 20.0% from ¥83,558,950.37 in the previous period[60] - Net profit for the current period is ¥33,563,069.57, an increase of 46.8% compared to ¥22,912,861.29 in the previous period[63] - Basic and diluted earnings per share for the current period are both ¥0.0759, down from ¥0.1515 in the previous period[63] Cash Flow - The net cash flow from operating activities was ¥177,483,515.53, an increase of 4.99% compared to ¥169,051,645.25 in the same period last year[9] - The net cash flow from financing activities was -¥64,863,547.94, a decline of 101.83% compared to the previous year, mainly due to no non-public stock issuance[24] - The company reported a net cash inflow from financing activities of -64,863,547.94, a significant decline from 3,551,986,034.57 in the previous period[72] - Cash inflow from operating activities totaled $219,263,303.96, while cash outflow was $204,232,047.84, resulting in a net cash inflow[76] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,977,989,569.33, down 1.44% from ¥5,050,863,977.78 at the end of the previous year[9] - Total liabilities decreased to CNY 803,282,995.46 from CNY 909,720,473.48, marking a decline of approximately 11.7%[49] - The company's current assets totaled CNY 4,789,035,565.87, slightly up from CNY 4,753,129,856.50 at the end of 2018, indicating a growth of about 0.76%[42][49] - Total liabilities amount to ¥759,618,224.72, compared to ¥811,668,556.71 in the previous period, indicating a decrease of 6.4%[60] - The company's total assets were reported at $5,050,863,977.78, unchanged from the previous reporting period[84] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,875[13] - The largest shareholder, Yongtai Group Co., Ltd., held 65.80% of the shares, totaling 290,964,777 shares[13] - The equity attributable to the owners of the parent company increased to CNY 4,174,706,573.87 from CNY 4,141,143,504.30, representing a growth of about 0.81%[49] Financial Standards and Reporting - The company is applying new financial instrument standards effective from January 1, 2019[88] - The first quarter report was not audited[89] - The report does not include retrospective adjustments for prior comparative data[89] - The report was released on April 25, 2019[89] Other Financial Metrics - Trading financial assets reached ¥1,635,074,666.80, a significant increase due to the reclassification under new financial instrument accounting standards[22] - Prepayments surged by 1,372.83% to ¥24,013,848.26, primarily due to the acquisition of debt rights[22] - Short-term borrowings decreased by 27.57% to ¥521,600,000.00, attributed to repayment of bank loans[22] - Long-term borrowings increased by 896.25% to ¥222,280,000.00, reflecting an increase in bank loans[24] - Management expenses rose by 68.60% to ¥20,786,198.95, driven by increased business scale and volume[24] - Financial expenses decreased by 71.79% to ¥11,364,825.58, due to reduced interest on bank borrowings[24] - The fair value change income was ¥4,861,318.73, a 1,550.05% increase due to the rise in trading financial assets' fair value[24]

Financial Performance - The company's operating revenue for 2018 was CNY 338,884,725.17, representing a 67.35% increase compared to CNY 202,505,533.88 in 2017[25]. - The net profit attributable to shareholders for 2018 was CNY 120,627,881.06, a 64.64% increase from CNY 73,268,328.29 in 2017[25]. - The net cash flow from operating activities improved to CNY -673,714,323.95 in 2018, a 70.88% improvement from CNY -2,313,505,537.13 in 2017[25]. - The total assets at the end of 2018 were CNY 5,050,863,977.78, a 40.82% increase from CNY 3,586,666,027.97 at the end of 2017[25]. - The net assets attributable to shareholders increased significantly by 1,304.82% to CNY 4,141,143,504.30 at the end of 2018 from CNY 294,780,696.69 at the end of 2017[25]. - The basic earnings per share for 2018 decreased by 32.62% to CNY 0.3265 from CNY 0.4846 in 2017[25]. - The weighted average return on net assets for 2018 was 3.83%, a decrease of 24.70 percentage points from 28.53% in 2017[25]. - The company achieved total operating revenue of approximately CNY 338.88 million in 2018, representing a year-on-year increase of 67.35%[45]. - The net profit attributable to the parent company reached CNY 12.06 million, up 64.64% compared to the previous year, marking the highest profit level in the company's history[45]. Strategic Focus - The company has shifted its focus from real estate to non-performing asset management since 2016, indicating a strategic pivot in its business model[21]. - The company plans to focus on its core business of non-performing asset management, aiming to become a leading financial service expert in risk resolution and value creation[102]. - The company plans to actively pursue the acquisition and disposal of non-performing assets and explore debt-to-equity swap opportunities[103]. - The company has maintained a focus on risk management and innovation in its non-performing asset management business model[39]. Capital Management - The company reported a profit distribution plan, proposing a cash dividend of RMB 0.48 per 10 shares (including tax) and a capital reserve conversion of 4.5 shares for every 10 shares held, based on a total share capital of 442,164,777 shares as of December 31, 2018[6]. - The total distributable profit as of December 31, 2018, is RMB 96,293,527.94, with remaining undistributed profit carried forward to future years amounting to RMB 75,069,618.64[116]. - The company plans to distribute a cash dividend of RMB 0.48 per 10 shares, totaling RMB 21,223,909.30, which represents 22.04% of the total distributable profit[113]. - The company will increase its share capital by 4.5 shares for every 10 shares held, resulting in a total share capital increase to 641,138,927 shares[116]. Corporate Governance - The company emphasized the importance of accurate and complete financial reporting, with key executives affirming the truthfulness of the annual report[5]. - The company’s board of directors and supervisory board members are committed to ensuring the integrity of the financial report, taking legal responsibility for any misrepresentation[5]. - The company reported a commitment to ensure the accuracy and completeness of the information provided in the major asset sale report, with legal liability for any false or misleading statements[125]. - The actual controllers of the company have committed to not engaging in any business that competes with Haide Co., ensuring strict control over the business scope of related enterprises[128]. Regulatory Compliance - The company has committed to not engaging in real estate development activities from January 1, 2013, to March 31, 2016, ensuring compliance with relevant laws and regulations[131]. - The company has a long-term commitment to adhere to the regulations governing the real estate market and to avoid any illegal activities[131]. - The company has committed to maintaining compliance with the China Securities Regulatory Commission's regulations regarding refinancing and mergers[134]. Investment Activities - The company has cumulatively engaged in non-performing asset business of approximately CNY 7.7 billion, with an asset management scale of about CNY 3.6 billion by the end of 2018[45]. - The company established Ningbo Jingyuan Investment Management Co., Ltd. with an investment of 10 million yuan in 2018, focusing on investment and asset management[53]. - The company completed a non-public issuance of A-shares, raising a net amount of 3,721,277,022.62 CNY[179]. - The non-public issuance added 290,964,777 shares to the company, which were listed on April 13, 2018[179]. Financial Position - Cash and cash equivalents at the end of 2018 amounted to 1,245,908,865.30 yuan, representing 24.67% of total assets, a significant increase from 0.14% in 2017[66]. - The company reported a significant increase in other current assets, reaching CNY 1,564,321,336.85, up 30.97% from the previous period[69]. - The company reported a loss of CNY 13,072,995.58 from its fund investments during the reporting period[81]. - The company has a total of CNY 50,463,589.11 in securities investments at the end of the reporting period[81]. Shareholder Relations - The company’s contact for investor relations is Liang Yizhi, with a dedicated phone line for inquiries[17]. - The company has maintained compliance with all commitments made to minority shareholders[137]. - The company has a total of 41,908,137 A-shares held by its controlling entities, with a similar six-month transfer restriction in place[135]. Social Responsibility - The company actively engaged in social responsibility, including donations valued at 32,873 CNY for health and educational supplies[176]. - The company did not undertake any targeted poverty alleviation work in 2018 and has no subsequent plans[179].