Financial Performance - The company's operating revenue for the first half of 2021 was ¥38,006,866.16, a decrease of 36.84% compared to ¥60,174,928.82 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥84,180,531.25, representing a significant decline of 1,305.16% from -¥5,990,797.20 in the previous year[18]. - The basic and diluted earnings per share were both -¥0.28, reflecting a decrease of 1,300.00% from -¥0.02 in the same period last year[18]. - The operating profit was RMB -51.84 million, representing a decline of 421.94% year-on-year[32]. - The total profit amounted to RMB -83.79 million, a decrease of 739.60% compared to the previous year[32]. - The net profit attributable to the parent company was RMB -84.18 million, which is a decline of 1,305.16% year-on-year[32]. - The company reported a net loss for the first half of 2021 of ¥84,180,531.25, compared to a net loss of ¥7,147,900.66 in the first half of 2020, representing an increase in loss of 1,078.5%[140]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥30,043,707.22, a 139.32% increase compared to -¥76,400,854.94 in the same period last year[18]. - The net cash flow from investing activities increased by 409.88% to ¥143,566,194.01, primarily due to the receipt from the disposal of project funds[34]. - The net cash flow from financing activities decreased by 1,195.50% to -¥170,537,780.21, mainly due to the repayment of various financing amounts[34]. - The company's cash and cash equivalents increased by 102.24% to -¥135,772,773.10, influenced by the aforementioned factors[34]. - The company's cash and cash equivalents at the end of the first half of 2021 amounted to ¥116,627,549.58, up from ¥203,738,710.39 at the end of the first half of 2020[146]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,719,287,560.20, down 4.19% from ¥3,882,019,069.94 at the end of the previous year[18]. - The total liabilities decreased to CNY 2,564,973,773.23 from CNY 2,643,776,696.93, representing a reduction of about 3%[131]. - The company's total equity as of June 30, 2021, was CNY 1,154,313,786.97, down from CNY 1,238,242,373.01, indicating a decrease of approximately 6.8%[131]. - The company's long-term equity investments increased slightly to CNY 100,700,248.41 from CNY 99,830,527.37, showing a growth of approximately 0.87%[129]. - The total amount of other receivables decreased to ¥56,559,679.92 from ¥183,801,460.59[128]. Investment and Projects - The company plans to sell 100% equity of Chongqing Zhongmei Heng Real Estate Co., Ltd. and Dazhou Mianshi Real Estate Development Co., Ltd. through public listing, constituting a major asset restructuring[26]. - The company is actively working on the development of the "Zhongdi·Huaxi Yue" project, ensuring construction progress despite facing funding difficulties[28]. - The company aims to restructure and divest certain real estate projects to alleviate financial pressure and maintain operational sustainability[31]. - The company reported a cumulative investment of CNY 3.46 billion in various real estate projects, with a current period investment of CNY 95.12 million[52]. - The company is planning a major asset restructuring to divest from certain real estate businesses to alleviate interest pressure and focus on sustainable investment projects[80]. Shareholder and Control Issues - As of August 4, 2021, the controlling shareholder's 71,144,800 shares, accounting for 23.77% of the total share capital, are set for judicial auction, potentially leading to a change in actual control[27]. - The controlling shareholder's 71,144,800 shares, representing 23.77% of the total shares, have been judicially frozen due to debt issues[85]. - The actual controller of the company is under investigation for suspected illegal activities, which may impact the company's operations[86]. - The company announced a potential change in actual control due to the judicial auction of shares held by the controlling shareholder[106]. Risk Management and Future Outlook - The report indicates that the company has detailed risk factors in the management discussion and analysis section[4]. - The company has not made any commitments regarding future plans or development strategies, highlighting the importance of investor caution regarding investment risks[4]. - The company is currently under delisting risk warning and is working on divesting certain real estate projects while ensuring the timely completion of retained projects to mitigate this risk[59]. - The company aims to enhance its internal control management to provide a stable environment for achieving its strategic planning[59]. - The management team aims to reduce operational costs and improve profitability through comprehensive budget management and cost control measures[173]. Legal and Compliance Matters - There are ongoing litigation matters, including a rental contract dispute with a claim amount of 15.08 million yuan, which has been settled[82]. - The company reported a litigation amount of 1,537.36 million yuan related to a construction contract dispute, which has been settled through mediation[83]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[69]. - The company has not reported any overdue or uncollectible amounts from entrusted financial management[103]. Corporate Governance - The company has completed the election of its tenth board of directors and supervisory board, with new members appointed[104]. - The company has not engaged in any significant related party transactions during the reporting period[89]. - The company has not reported any changes in accounting policies or prior period error corrections during the first half of 2021[151].

Financial Performance - The company's net profit for 2020, after deducting non-recurring gains and losses, was negative, with total operating revenue below 100 million yuan [4]. - The company's operating revenue for 2020 was ¥106,197,699.50, a decrease of 80.62% compared to ¥547,908,255.05 in 2019 [18]. - The net profit attributable to shareholders for 2020 was -¥299,164,835.56, representing a decline of 1,124.16% from ¥29,210,658.07 in 2019 [18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥319,160,423.16, down 1,232.45% from ¥28,183,298.32 in 2019 [18]. - The net cash flow from operating activities for 2020 was -¥74,367,482.11, an improvement of 16.58% compared to -¥89,152,280.59 in 2019 [18]. - The total assets at the end of 2020 were ¥3,882,019,069.94, a decrease of 7.62% from ¥4,202,210,104.80 at the end of 2019 [18]. - The net assets attributable to shareholders at the end of 2020 were ¥1,249,191,673.41, down 19.14% from ¥1,544,809,700.19 at the end of 2019 [18]. - The basic earnings per share for 2020 was -¥1.00, compared to ¥0.10 in 2019, reflecting a decline of 1,100.00% [18]. - The weighted average return on net assets for 2020 was -21.40%, a decrease of 23.31% from 1.91% in 2019 [18]. - The company reported a significant loss of CNY 299,164,835.56 in 2020, indicating a challenging financial environment [86]. - The company is at risk of being delisted due to financial indicators that trigger mandatory delisting warnings as per the Shenzhen Stock Exchange regulations [92]. Business Strategy and Operations - The main business during the reporting period was direct investment, with real estate investment being one of the key areas [4]. - The company decided to phase out existing real estate investment projects and will no longer acquire new real estate development projects as of November 2020 [16]. - The company plans to adjust its future development strategy by maintaining and gradually disposing of real estate investment projects in response to market conditions [28]. - The company aims to enhance its core competitiveness by optimizing resource allocation and promoting new business initiatives [30]. - The company plans to focus on controlling development costs and adjusting sales strategies to improve project sales levels during the relatively stable period of the pandemic [39]. - The company plans to continue promoting real estate investment projects in 2021 despite strict macro-control policies, aiming to improve the revenue levels of unsold projects [79]. - The company will explore new investment projects aligned with national "14th Five-Year Plan" policies to achieve sustainable development [80]. - The company aims to reduce operational costs and improve profitability by strengthening budget management and controlling expenses [94]. Governance and Compliance - All directors attended the board meeting to review the annual report, ensuring governance compliance [4]. - The company has received an unqualified audit report with a paragraph on significant uncertainties regarding its ability to continue as a going concern [4]. - The board of directors has evaluated the company's ability to continue as a going concern and believes that strategic adjustments can improve operational conditions and reduce losses [94]. - The company has maintained its commitment to ensure the independence of the listed company and reduce related party transactions [88]. - The company engaged in 26 investor communications throughout 2020, focusing on operational performance and stock price trends [83]. - The company has established a robust governance structure with clear roles for its board members and management team [168]. - The independent directors participated in all board meetings and did not raise any objections during the reporting period [182]. Real Estate Market Conditions - The real estate market in 2020 was characterized by a tightening of policies, with a focus on stabilizing land prices and housing prices, impacting the company's project completion and sales [35]. - The company experienced a decrease in equity assets compared to the previous year, primarily due to a reduction in equity investments [29]. - In 2020, the company faced challenges in its real estate investment due to policy adjustments and market changes, leading to unsatisfactory performance in this sector [33]. - Revenue from real estate sales amounted to 82,321,630.87 yuan, accounting for 77.52% of the total operating revenue for 2020 [198]. Financial Management and Risks - The company has a total bank loan balance of RMB 609.53 million, with an average financing cost ranging from 7.105% to 9% [38]. - The company provided guarantees for stage mortgage loans totaling RMB 673.46 million, representing 53.91% of the latest audited net assets [39]. - The company has ongoing real estate projects with total investments of approximately 3.37 billion yuan, with some projects partially completed and delivered [68]. - The company reported a total of 4,673,110 shares held by major shareholder Huang Chaojiang, with 2,896,610 shares held through a margin account and 1,776,500 shares through a regular account [152]. - The actual controller of the company, Mr. Li Qin, is under investigation for suspected illegal activities, and his shares (23.77% of total shares) are frozen due to related debt issues [106]. - The company has applied for a total of CNY 800 million in merger and development loans, guaranteed by its actual controller and related parties [112]. Shareholder Structure and Changes - The total number of shares is 299,265,522, with 97.57% being unrestricted shares (292,002,672) and 2.43% being restricted shares (7,262,850) [148]. - The largest shareholder, Chengdu Zhongdi Chanquan Investment Group Co., Ltd., holds 23.77% of the shares, totaling 71,144,800 shares, which are currently frozen [150]. - The second-largest shareholder, Beijing Yanhua Joint Development Co., Ltd., holds 4.55% of the shares, totaling 13,613,503 shares, which are also frozen [150]. - The company has not engaged in any share repurchase activities during the reporting period [149]. - The company has not disclosed any plans for market expansion or mergers and acquisitions in the current report [149]. Personnel and Management - The total number of employees in the company is 179, with 29 in the parent company and 150 in major subsidiaries [170]. - The company has a diverse management team with backgrounds in finance, law, and engineering, enhancing its operational capabilities [165]. - The company reported a total compensation of 5.6702 million yuan for directors, supervisors, and senior management during the reporting period [168]. - The company established a performance evaluation and incentive mechanism for all employees, enhancing work motivation [177]. Audit and Internal Controls - The company maintained effective internal controls over financial reporting as of December 31, 2020, according to the internal control audit report [190]. - There were no significant deficiencies or material weaknesses identified in the internal control audit report [190]. - The audit opinion issued was a standard unqualified opinion with a paragraph on going concern uncertainty [194]. - The financial report was prepared in accordance with accounting standards and fairly reflects the financial position as of December 31, 2020 [194].

Financial Performance - The company's operating revenue for Q1 2021 was ¥12,405,283.58, a decrease of 17.07% compared to ¥14,958,567.55 in the same period last year[7] - The net profit attributable to shareholders was -¥37,286,212.42, representing a decline of 112.67% from -¥17,532,505.59 year-on-year[7] - The basic and diluted earnings per share were both -¥0.12, reflecting a 100% decrease from -¥0.06 in the same period last year[7] - The operating profit was RMB -30.96 million, down 63.51% year-on-year[16] - The total profit amounted to RMB -40.39 million, representing a decline of 113.14% compared to the previous year[16] - The net profit attributable to the parent company was RMB -37.29 million, a decrease of 112.67% year-on-year[16] - The net profit for the first quarter of 2021 was -37,286,212.42 CNY, compared to -17,992,521.87 CNY in the same period last year, representing an increase in net loss of approximately 106.8%[45] - The total profit for the first quarter was -40,394,674.01 CNY, which is a significant increase from -18,952,304.11 CNY year-over-year, indicating a rise in total loss of about 113.0%[45] Cash Flow - The net cash flow from operating activities improved by 48.84%, amounting to -¥32,124,226.14 compared to -¥62,788,342.27 in the previous year[7] - The net cash flow from operating activities was RMB -32.12 million, an increase of 48.84% compared to the same period last year[16] - The cash inflow from operating activities totaled 14,999,905.57 CNY, a decrease from 149,275,033.39 CNY in the previous year, representing a decline of about 90.0%[51] - The cash inflow from operating activities was 947,620.09 CNY, a sharp decline from 160,110,367.26 CNY in the previous period[55] - The company reported a cash flow net decrease of -26,533,853.54 CNY, compared to -100,115,238.71 CNY in the previous period[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,850,075,741.20, a decrease of 0.82% from ¥3,882,019,069.94 at the end of the previous year[7] - The total current liabilities were reported at approximately CNY 872.66 million, slightly increasing from CNY 869.89 million at the end of 2020[34] - Total liabilities as of March 31, 2021, were CNY 2,649,064,279.23, slightly up from CNY 2,643,776,696.93 at the end of 2020[36] - Owner's equity decreased to CNY 1,201,011,461.97 from CNY 1,238,242,373.01 at the end of 2020[36] - The company's cash and cash equivalents decreased to approximately CNY 107.12 million from CNY 132.48 million as of December 31, 2020, representing a decline of about 19%[33] Shareholder Information - The total number of common shareholders at the end of the reporting period was 25,502[11] - The largest shareholder, Chengdu Zhongdi Chanquan Investment Group Co., Ltd., held 23.77% of the shares, totaling 71,144,800 shares[11] Investments and Acquisitions - The company acquired a 20% stake in Chengdu Qingjin Decoration Engineering Co., Ltd. for RMB 481,000, making it a wholly-owned subsidiary[17] - The company plans to invest RMB 30 million in Chengdu Hechen Yingjia Mining Partnership within 12 months[19] Financial Adjustments and Standards - The company has adjusted its financial statements due to the implementation of new leasing standards, affecting the total assets by 11,084,462.15 CNY[60] - The company adopted new leasing standards effective January 1, 2021, resulting in adjustments to financial statement items[64] Management and Communication - The company conducted multiple investor communications regarding its operational status and stock performance throughout the reporting period[29] - The first quarter report for 2021 was not audited, indicating preliminary financial data[65] - The company’s chairman is Zhang Xiaocheng, who presented the first quarter report on April 28, 2021[66]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥60,174,928.82, representing a 209.35% increase compared to ¥19,451,888.50 in the same period last year[18]. - The net profit attributable to shareholders was a loss of ¥5,990,797.20, an improvement of 89.96% from a loss of ¥59,644,243.34 in the previous year[18]. - The basic and diluted earnings per share were both -¥0.02, reflecting a 90.00% improvement from -¥0.20 in the same period last year[18]. - The company's net profit for the reporting period amounted to CNY 9,687,834.84, with a significant contribution from the recovery of receivables in the real estate sector[23]. - The company reported a net loss for the first half of 2020 of CNY 7,147,900.66, compared to a net loss of CNY 60,853,459.83 in the first half of 2019, indicating an improvement of approximately 88.2%[152]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥76,400,854.94, a decline of 556.12% compared to a positive cash flow of ¥16,749,995.74 in the same period last year[18]. - Cash and cash equivalents decreased significantly by 1,225.22% to -¥135,772,773.10 from -¥10,245,315.75, reflecting the cumulative impact of the aforementioned factors[39]. - The cash flow from operating activities showed a net outflow of CNY 76.40 million, a significant decline from a net inflow of CNY 16.75 million in the same period last year[157]. - Cash and cash equivalents at the end of the first half of 2020 totaled CNY 203.74 million, down from CNY 164.13 million at the end of the same period in 2019[159]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,636,755,290.54, an increase of 10.34% from ¥4,202,210,104.80 at the end of the previous year[18]. - The company's total liabilities as of June 30, 2020, were CNY 3,098,334,275.38, compared to CNY 2,661,259,813.36 at the end of 2019, indicating a significant increase in liabilities[144]. - Long-term borrowings rose to CNY 812,993,099.46 from CNY 534,149,556.00, marking an increase of approximately 52.1%[143]. - The total equity attributable to shareholders was CNY 1,542,813,970.40 as of June 30, 2020, slightly down from CNY 1,544,809,700.19 at the end of 2019[144]. Investment Activities - The company completed the acquisition of 100% equity in the Huiri Central Expansion project, enhancing its real estate investment portfolio in Chengdu[32]. - The company reported an investment amount of ¥691,183,333.33 during the reporting period, marking a 100% increase compared to the previous year[53]. - The company made an investment payment of ¥175,183,333.33 during the first half of 2020, indicating a focus on growth and expansion[161]. Operational Challenges and Responses - The company faced delays in real estate project development due to the COVID-19 pandemic but has resumed construction and sales activities[32]. - The company has increased its online sales efforts to mitigate the impact of the pandemic on its real estate sales[32]. - The company is actively monitoring the pandemic situation to mitigate potential impacts on project progress[72]. Risk Management - The company has disclosed various risk factors in the report, which investors should consider[5]. - The company is focused on macroeconomic policies and industry regulations to ensure stable business development[72]. - The company is actively managing its litigation risks and has taken steps to resolve disputes amicably[81]. Shareholder Information - The total number of shares outstanding is 299,265,522, with 2.43% being restricted shares and 97.57% being unrestricted shares[121]. - The largest shareholder, Chengdu Zhongdi Chanyin Investment Group Co., Ltd., holds 71,144,800 shares, representing 23.77% of total shares, and has pledged these shares[123]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[125]. Corporate Governance - The company’s actual controller is Li Qin, ensuring a clear governance structure[183]. - The financial statements reflect the company's financial position and operating results as of June 30, 2020, in accordance with the relevant accounting standards[188]. - The company prepares financial statements based on the going concern assumption and adheres to the accounting standards issued by the Ministry of Finance[185].

Financial Performance - Operating revenue for the current period reached CNY 33,096,534.97, a significant increase of 1,038.87% year-on-year[7] - The company reported a significant increase in operating revenue of 317.17% for the year-to-date period[7] - The company achieved operating revenue of RMB 93.27 million, an increase of 317.17% year-on-year[16] - Total revenue for Q3 2020 reached ¥33,096,534.97, a significant increase from ¥2,906,092.34 in Q3 2019, representing an increase of approximately 1031.5%[46] - The total operating revenue for the third quarter was CNY 93,271,463.79, a significant increase from CNY 22,357,980.84 in the same period last year, representing a growth of approximately 318.5%[54] Profitability - Net profit attributable to shareholders was CNY -23,318,086.91, a decrease of 21.83% compared to the same period last year[7] - The net profit for the year-to-date period was CNY -29,308,884.11, an increase of 62.80% compared to the same period last year[7] - The company reported a net profit attributable to shareholders of RMB -29.31 million, an improvement of 62.80% year-on-year[18] - The net profit for the third quarter was a loss of CNY 3,768,474.14, worsening from a loss of CNY 1,870,838.15 in the same quarter last year[52] - The comprehensive income totalled a loss of CNY 30,937,988.90, compared to a loss of CNY 80,725,815.05 in the previous year, showing an improvement of approximately 61.7%[56] Earnings Per Share - Basic earnings per share were CNY -0.08, reflecting a decline of 33.33% year-on-year[7] - The basic and diluted earnings per share for Q3 2020 were both -0.08, compared to -0.06 in Q3 2019[49] - Basic and diluted earnings per share were both reported at -0.10, compared to -0.26 in the same quarter last year[57] Cash Flow - Net cash flow from operating activities improved by 171.47% to CNY 50,334,947.45[7] - The net cash flow from operating activities was RMB -26.07 million, an increase of 51.44% year-on-year, mainly due to reduced expenditures on real estate development projects[18] - The cash flow from operating activities showed a net outflow of CNY 26,065,907.49, an improvement from the previous period's outflow of CNY 53,679,846.25[62] - Total cash inflow from operating activities reached ¥670,097,432.45, compared to ¥19,502,827.18 in the same period last year, indicating a substantial increase[65] - Cash outflow from operating activities was ¥555,651,791.18, up from ¥34,007,389.72 in the previous year, reflecting increased operational expenses[65] Assets and Liabilities - Total assets increased by 10.50% to CNY 4,643,448,351.07 compared to the end of the previous year[7] - The company's total assets amounted to ¥4,643,448,351.07, an increase from ¥4,202,210,104.80 at the end of 2019[36][39] - Total liabilities rose to ¥3,128,280,169.36 from ¥2,661,259,813.36, indicating an increase of approximately 17.6%[38] - The company's total liabilities increased to ¥363,773,188.43 from ¥104,489,439.66, showing a rise of about 248.5%[44] - The total liabilities amounted to ¥2,661,259,813.36, with current liabilities at ¥1,774,575,363.45 as of the reporting date[70] Expenses - Operating costs amounted to RMB 60.99 million, up 274.70% year-on-year, primarily due to increased sales from real estate projects and financing leasing business[16] - Sales expenses decreased by 48.69% year-on-year to RMB 23.49 million, mainly due to reduced marketing activities from the impact of COVID-19[16] - Management expenses decreased by 28.99% year-on-year to RMB 28.66 million, also influenced by COVID-19 related cost reductions[16] - Financial expenses increased by 33.61% year-on-year to RMB 18.85 million, primarily due to increased interest expenses[17] - The financial expenses for the quarter were CNY 18,854,077.33, an increase from CNY 14,111,053.84 in the previous year, reflecting a rise of about 33.5%[54] Investment Performance - Investment losses amounted to ¥1,664,795.61 in Q3 2020, compared to a gain of ¥2,733,127.98 in Q3 2019, reflecting a negative swing of approximately 161.0%[46] - The investment loss for the current period was CNY -1,569,835.89, compared to a gain of CNY 5,713,243.23 in the previous period, indicating a substantial decline in investment performance[58] - The company reported a credit impairment loss of CNY 10,340,729.99, compared to a loss of CNY 778,761.90 in the previous year, indicating a substantial increase in credit risk[54] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,508[11] - The company's equity attributable to shareholders decreased to ¥1,520,033,138.28 from ¥1,544,809,700.19, a decline of about 1.6%[39] - The total owner's equity increased by CNY 4,492,653.15, from CNY 1,540,950,291.44 to CNY 1,545,442,944.59[71] Miscellaneous - The company did not conduct any repurchase transactions during the reporting period[13] - The company engaged in multiple investor communications, discussing operational performance and stock price trends throughout the quarter[32] - The company has not yet audited the third-quarter report, indicating that the figures are subject to further verification[78] - The company has implemented new revenue and leasing standards starting in 2020, which may affect future financial reporting[78]

Financial Performance - Operating revenue for the period reached CNY 33,096,534.97, a significant increase of 1,038.87% year-on-year[7] - Net profit attributable to shareholders was CNY -23,318,086.91, a decrease of 21.83% compared to the same period last year[7] - Basic earnings per share were CNY -0.08, reflecting a decline of 33.33% year-on-year[7] - The weighted average return on net assets was -1.52%, a decrease of 0.20% compared to the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -23,310,071.54, down 21.32% year-on-year[7] - The net profit for the year-to-date period was CNY -29,308,884.11, an increase of 62.80% compared to the same period last year[7] - The company reported a net profit attributable to the parent company of RMB -29.31 million, an improvement of 62.80% year-on-year[18] - The company reported a net loss of CNY 30,937,988.90 for the year-to-date period, compared to a loss of CNY 80,725,815.05 in the same period last year, showing an improvement in overall losses[57] Cash Flow - Net cash flow from operating activities improved by 171.47% to CNY 50,334,947.45[7] - The net cash flow from operating activities was RMB -26.07 million, an increase of 51.44% year-on-year, mainly due to reduced expenditures on real estate development projects[18] - The cash flow from operating activities showed a net outflow of CNY 26,065,907.49, an improvement from a net outflow of CNY 53,679,846.25 in the same period last year[63] - Total cash inflow from operating activities was CNY 670,097,432.45, compared to CNY 19,502,827.18 in the previous year, indicating a substantial increase[67] - Cash outflow from operating activities totaled CNY 555,651,791.18, up from CNY 34,007,389.72 in the prior year[67] Assets and Liabilities - Total assets increased by 10.50% to CNY 4,643,448,351.07 compared to the end of the previous year[7] - The total number of ordinary shareholders at the end of the reporting period was 26,508[11] - The company's cash and cash equivalents decreased to CNY 187,427,694.62 from CNY 351,553,640.58, reflecting a decline of about 46.4%[36][40] - The total current liabilities decreased slightly to CNY 1,767,243,567.94 from CNY 1,774,575,363.45, indicating a reduction of approximately 0.4%[39][40] - The long-term borrowings increased significantly to CNY 1,295,228,453.00 from CNY 534,149,556.00, marking an increase of approximately 142.7%[39][40] - The total equity attributable to the parent company decreased to CNY 1,520,033,138.28 from CNY 1,544,809,700.19, a decline of approximately 1.6%[40] Expenses - Operating costs amounted to RMB 60.99 million, up 274.70% year-on-year, primarily due to increased sales revenue from real estate projects and financing leasing business[16] - Sales expenses decreased by 48.69% year-on-year to RMB 23.49 million, mainly due to reduced marketing activities impacted by the COVID-19 pandemic[16] - Management expenses decreased by 28.99% year-on-year to RMB 28.66 million, also influenced by the COVID-19 pandemic[16] - Financial expenses increased by 33.61% year-on-year to RMB 18.85 million, primarily due to increased interest expenses[17] - Financial expenses for Q3 2020 were CNY 13,317,791.71, significantly higher than CNY 2,396,489.88 in the same period last year, an increase of approximately 455.5%[47] Investments - The company reported non-recurring gains totaling CNY 9,679,819.47 for the year-to-date period[9] - The company reported an investment loss of CNY 1,664,795.61 in Q3 2020, compared to a gain of CNY 2,733,127.98 in Q3 2019, indicating a negative swing of approximately 161.0%[47] - The investment income for the year-to-date period was a loss of CNY 603,824.94, down from a profit of CNY 5,779,156.92 in the previous year[55] Shareholder and Management Activities - The company engaged in multiple investor communications discussing operational performance and strategic direction throughout the quarter[32] - The company has not reported any expected inability to recover principal from entrusted financial management, indicating a stable financial management approach[29] - The company did not engage in any repurchase transactions during the reporting period[13] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[31] Adjustments and Standards - The company adjusted its financial statements for the first time under new revenue and leasing standards, impacting the balance sheet[69] - The company has implemented new revenue and leasing standards starting in 2020, affecting prior comparative data[80]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥60,174,928.82, representing a 209.35% increase compared to ¥19,451,888.50 in the same period last year[18]. - The net profit attributable to shareholders was a loss of ¥5,990,797.20, an improvement of 89.96% from a loss of ¥59,644,243.34 in the previous year[18]. - The basic and diluted earnings per share were both -¥0.02, reflecting a 90.00% improvement from -¥0.20 in the same period last year[18]. - The company reported an operating profit of CNY -9.93 million, an increase of 85.74% year-on-year[37]. - The total profit amounted to CNY -9.98 million, reflecting an increase of 85.63% compared to the previous year[37]. - The net profit attributable to the parent company was CNY -5.99 million, which is an increase of 89.96% year-on-year[37]. - The company reported a net cash flow from operating activities of -76,400,854.94 yuan, a significant decline compared to 16,749,995.74 yuan in the same period of 2019, indicating a negative performance shift[160]. - The total comprehensive income for the first half of 2020 was a loss of ¥7,147,900.66, compared to a loss of ¥60,853,459.83 in the first half of 2019, showing a substantial improvement[155]. Cash Flow and Liquidity - The net cash flow from investment activities was -46,329,237.94 yuan in the first half of 2020, contrasting with a positive net cash flow of 14,434,447.33 yuan in the same period of 2019[162]. - Cash and cash equivalents decreased significantly by 1,225.22% to -¥135,772,773.10 from -¥10,245,315.75, reflecting the overall impact of the aforementioned factors[39]. - The ending balance of cash and cash equivalents as of June 30, 2020, was 203,738,710.39 yuan, compared to 164,132,154.40 yuan at the end of the first half of 2019[162]. - The company’s cash and cash equivalents decreased from 351,553,640.58 CNY at the end of 2019 to 218,978,290.01 CNY by June 30, 2020, representing a decline of approximately 37.7%[143]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,636,755,290.54, an increase of 10.34% from ¥4,202,210,104.80 at the end of the previous year[18]. - Total liabilities increased to CNY 3,098,334,275.38 from CNY 2,661,259,813.36, representing a growth of approximately 16.4%[146]. - Long-term borrowings increased by 12.38% to 812,993,099.46 CNY, accounting for 17.53% of total assets, primarily due to increased bank and trust borrowings[48]. - The company's total equity decreased slightly to CNY 1,538,421,015.16 from CNY 1,540,950,291.44, a decline of approximately 0.8%[146]. Investments and Acquisitions - The company completed the acquisition of Sichuan Huiri Central Expansion Real Estate Co., Ltd. for 691,183,333.33 CNY, holding a 100% stake[56]. - The company completed the acquisition of the Huiri Central Expansion project and is actively promoting its subsequent development, while also advancing real estate investment projects in Chongqing and Dazhou, Sichuan[26]. - The company has established a clear long-term development plan focusing on real estate and equity investments, supported by a professional management team[28]. - The company terminated the proposed acquisition of 100% equity in Shandong Yuda Health Technology Co., Ltd. due to failure to reach consensus on core transaction terms[30]. Operational Challenges and Strategies - The company is focusing on online sales to mitigate the impact of COVID-19 on its real estate projects, which have resumed development and construction[32]. - The company is actively resuming project development and sales following disruptions caused by the COVID-19 pandemic[36]. - The company has disclosed various risk factors in the report, which investors should consider[5]. - The report emphasizes that forward-looking statements do not constitute a commitment to investors, highlighting the importance of investment risk awareness[5]. Legal and Regulatory Matters - The company reported a significant lawsuit involving a claim of 117.87 million yuan, which is currently in the enforcement stage[81]. - The company is actively managing litigation risks, with several cases currently in mediation or enforcement stages[81]. - The company has maintained transparency in its legal matters by regularly updating stakeholders through official disclosures[82]. - The company has confirmed that there were no bankruptcy reorganization matters during the reporting period[80]. Shareholder and Equity Information - The company’s total shares amount to 299,265,522, with 97.57% being unrestricted shares[122]. - The total number of common shareholders at the end of the reporting period was 30,415[124]. - Chengdu Zhongdi Chanfeng Investment Group Co., Ltd. held 23.77% of shares, totaling 71,144,800 shares, all of which are pledged[124]. - The total equity attributable to the parent company at the end of the reporting period is CNY 1,542,813,970.40, a decrease of CNY 4,392,955.24 compared to the previous period[170]. Management and Governance - The company plans to continue monitoring macroeconomic policies and industry regulations to ensure stable business development[72]. - The company is focused on enhancing internal control management and risk awareness to mitigate investment risks[72]. - The company confirms its ability to continue as a going concern for at least 12 months from the reporting date[187]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status as of June 30, 2020[189].

Financial Performance - The company reported a total revenue of 298 million in 2019, marking a year-on-year increase of 15%[12] - The net profit attributable to shareholders was 45 million, representing a growth of 10% compared to the previous year[12] - The company's operating revenue for 2019 was ¥547,908,255.05, representing a significant increase of 1,757.78% compared to ¥29,492,663.01 in 2018[18] - The net profit attributable to shareholders for 2019 was ¥29,210,658.07, a turnaround from a loss of ¥60,797,854.14 in 2018, marking an increase of 148.05%[18] - The net profit after deducting non-recurring gains and losses was ¥28,183,298.32, compared to a loss of ¥106,327,926.15 in the previous year, reflecting a 126.51% improvement[18] - The total assets of the company reached 1.2 billion by the end of 2019, an increase of 20% from the previous year[12] - The total assets at the end of 2019 reached ¥4,202,210,104.80, an increase of 41.70% from ¥2,965,561,470.33 at the end of 2018[18] - The company reported a basic earnings per share of ¥0.10 for 2019, compared to a loss of ¥0.20 per share in 2018, indicating a 150.00% increase[18] - The weighted average return on equity for 2019 was 1.91%, recovering from -3.93% in 2018[18] - The company reported non-recurring gains of ¥1,027,359.75 for 2019, compared to ¥45,530,072.01 in 2018[25] Investment Strategy - The company plans to focus on direct investment business, including equity investment and real estate development, as its main operations[16] - The company aims to enhance its market presence through strategic partnerships and acquisitions in the coming years[16] - The company is committed to a long-term development strategy centered on real estate and equity investments, supported by a professional team and internal control systems[32] - The company continues to explore new investment opportunities while managing existing projects prudently[35] - The company aims to enhance its equity investment business by identifying projects with growth potential and investment value[87] Real Estate Development - The company has expanded its real estate investment projects, including developments in Chengdu and Chongqing[16] - The company continued to develop its real estate projects, including the "Liangjiang Zhongdi Plaza" and "Zhongdi Suidingfu" projects, with some properties completed and revenue recognized during the reporting period[29] - The real estate investment business performed well despite a tightening regulatory environment, with a focus on project development and quality control[38] - The company acquired new real estate investment projects in Chengdu, Sichuan, enhancing its overall investment strength[38] - The real estate sector contributed CNY 546.78 million, accounting for 99.79% of total revenue, with a year-on-year growth of 1,854.36%[48] Financial Management - The company has a total of CNY 544.15 million in bank loans with an interest rate range of 7.105% to 9%[43] - The company also has CNY 850 million in trust financing with an interest rate range of 12.4% to 14.5%[43] - The company’s financial expenses increased by 3,141.67% to ¥17,095,826.05, primarily due to increased interest expenses during the reporting period[59] - The company’s monetary funds at the end of 2019 were ¥351,553,640.58, which accounted for 8.37% of total assets, an increase of 2.46% from the beginning of the year[66] - The company has engaged in cash asset management through entrusted financial management during the reporting period[138] Shareholder Returns - No cash dividends or stock bonuses will be distributed to shareholders for the reporting period[5] - The company did not distribute any cash dividends in 2019, despite having a positive profit available for distribution to ordinary shareholders[94] - The company reported a total of 0.00% cash dividend distribution in 2019, indicating no return to shareholders[94] Governance and Compliance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring governance compliance[4] - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[4] - The company has committed to maintaining its independence and reducing related party transactions, with ongoing compliance since September 1, 2017[96] - The company has ensured timely fulfillment of information disclosure obligations to protect the rights of shareholders[96] Personnel and Management - The company appointed Lixin Certified Public Accountants as the auditor for the 2019 financial statements, with an audit fee of RMB 1.1 million[105] - The company appointed a new general manager, Jie Bin, following the resignation of the previous general manager, Li Qin[152] - The company appointed Ms. Li Hemei as the new CFO after Mr. Hu Xuyi resigned for personal reasons[153] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.9247 million (approximately USD 0.43 million) before tax[195] - The company employed a total of 195 staff, with 162 in major subsidiaries and 33 in the parent company[197] Legal Matters - The company has been involved in litigation with Shenzhen Magus Technology Co., with a claim amount of RMB 8.5 million, which has been adjudicated[107] - The company is also engaged in litigation related to a leasing project with a claim amount of RMB 6.16 million, currently in the enforcement stage[109] - The company has not reported any major lawsuits or arbitration matters that would impact its financial status[111] Future Outlook - The company anticipates that the COVID-19 pandemic will impact project development and sales, depending on the progression of pandemic control measures[45] - The company plans to continue its real estate investment projects despite challenges from strict regulatory policies and the impact of the COVID-19 pandemic[86] - The company emphasized the necessity of maintaining sufficient funds to ensure project recovery post-COVID-19 pandemic[94]

Financial Performance - The company's operating revenue for Q1 2020 was ¥14,958,567.55, representing an increase of 18.46% compared to ¥12,627,281.08 in the same period last year[7] - The net profit attributable to shareholders was -¥17,532,505.59, a 35.97% improvement from -¥27,382,081.47 year-on-year[7] - The basic earnings per share for the period was -¥0.06, an improvement of 33.33% from -¥0.09 in the same period last year[7] - The weighted average return on equity was -1.14%, an improvement of 0.68% from -1.82% year-on-year[7] - The net profit attributable to the parent company was -17.53 million yuan, an increase of 35.97% year-on-year, primarily due to reduced sales expenses amid decreased pre-sale activities caused by the COVID-19 pandemic[15] - Net loss for Q1 2020 was CNY 17,992,521.87, an improvement from a net loss of CNY 27,657,835.63 in Q1 2019, representing a 34.5% reduction in losses[46] - The total comprehensive income for Q1 2020 was a loss of CNY 5,289,022.19, compared to a loss of CNY 2,732,337.46 in the previous year[50] Cash Flow and Liquidity - The net cash flow from operating activities was -¥62,788,342.27, a significant decline of 246.25% compared to ¥42,932,079.10 in the previous year[7] - The company's net cash flow from operating activities was -62.79 million yuan, a decrease of 246.25% year-on-year, mainly due to a decline in pre-sale funds inflow[16] - The company's cash flow from financing activities increased by 251.88% to 73.20 million yuan, mainly due to increased bank loans and trust financing[16] - The cash flow from operating activities showed a net outflow of CNY 62,788,342.27, a significant decline from a net inflow of CNY 42,932,079.10 in the previous year[52] - The company reported cash inflows from investment activities totaling CNY 23,449,753.43, while cash outflows were CNY 134,109,145.22, resulting in a net cash outflow of CNY 110,659,391.79[54] - The net increase in cash and cash equivalents for the first quarter of 2020 was CNY 3,353,460.42, compared to a decrease of CNY 99,317.84 in the same period last year[58] - The cash and cash equivalents at the end of the first quarter of 2020 amounted to CNY 4,135,901.59, up from CNY 2,589,421.70 at the end of the previous year[58] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,303,090,807.14, reflecting a 2.40% increase from ¥4,202,210,104.80 at the end of the previous year[7] - The total assets of Beijing Zhongdi Investment Co., Ltd. amounted to CNY 4,303,090,807.14, an increase from CNY 4,202,210,104.80 as of December 31, 2019, representing a growth of approximately 2.6%[34][37] - The company's total liabilities as of March 31, 2020, were CNY 2,780,133,037.57, compared to CNY 2,661,259,813.36 at the end of 2019, indicating an increase of about 4.5%[36][37] - The total equity attributable to shareholders as of March 31, 2020, was CNY 1,527,277,194.60, down from CNY 1,544,809,700.19 at the end of 2019, reflecting a decrease of approximately 1.1%[37] - The company's cash and cash equivalents decreased to CNY 252,802,970.60 from CNY 351,553,640.58, a decline of about 28.1%[34] - The company's inventory increased slightly to CNY 3,086,960,939.40 from CNY 3,039,709,814.93, representing an increase of approximately 1.6%[34] - The company's long-term equity investments were reported at CNY 155,998,351.26, showing a minor decrease from CNY 156,076,654.01[35] Shareholder Information - The company had a total of 25,666 common shareholders at the end of the reporting period[11] - The largest shareholder, Chengdu Zhongdi Chanquan Investment Group Co., Ltd., held 23.77% of the shares, amounting to 71,144,800 shares[11] Strategic Developments - There were no significant new strategies or product developments mentioned in the report[14] - The company planned to acquire 100% equity of Sichuan Huiriyang Expansion Real Estate Co., Ltd. for 680 million yuan, gaining development rights in Chengdu[18] - The company applied for loans from Zhongrong International Trust Co., Ltd. to support the acquisition and development projects, providing guarantees for the loans[18] - The company’s subsidiary, Qingdao Kangping High-speed Rail Technology Co., Ltd., is in the process of applying for guidance to list on the National Equities Exchange and Quotations[20] - The company plans to sell idle properties to optimize its asset structure[21] Governance and Compliance - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, reflecting good governance practices[29] - The company had no violations regarding external guarantees, indicating a strong risk management framework[28] - The company reported no derivative investments during the reporting period, indicating a conservative investment strategy[28] Accounting Changes - The company began implementing new revenue and leasing standards from January 1, 2020, which resulted in adjustments to the financial statements[59]

Financial Performance - Operating revenue for the reporting period was ¥2,906,092.34, a decrease of 46.38% year-on-year[7] - Net profit attributable to shareholders was -¥19,139,234.67, a decline of 4,924.45% compared to the same period last year[7] - Basic earnings per share were -¥0.06, representing a decrease of 500.00% year-on-year[7] - The weighted average return on net assets was -1.32%, a decrease of 1.30% compared to the previous year[7] - The net profit for the year-to-date period was -¥78,783,478.01, a decline of 1,145.39% compared to the same period last year[7] - The company reported a net profit attributable to the parent company of -RMB 78.78 million, a decline of 1,145.39% compared to the same period last year[16] - The total comprehensive income attributable to the parent company was -78,783,478.01 CNY, compared to -6,325,987.21 CNY in the same period last year[54] - The net profit for the third quarter was a loss of CNY 19,872,355.22, compared to a loss of CNY 632,259.45 in the same period last year, indicating a significant decline in profitability[45] - The total profit for the quarter was -92,719,255.12 CNY, a decrease from -3,221,526.91 CNY year-over-year[53] Cash Flow - Cash flow from operating activities showed a net outflow of -¥53,679,846.25, an increase of 94.75% in outflow compared to the previous year[7] - The net cash flow from operating activities was -RMB 53.68 million, an increase of 94.75% year-on-year, mainly due to increased cash received from pre-sales of real estate projects[17] - The net cash flow from investment activities was -¥103,311,902.67, a decrease from ¥306,459,268.20 in the previous period, indicating a significant decline in investment returns[61] - The total cash inflow from financing activities was ¥538,900,000.00, compared to ¥675,000,000.00 in the previous period, reflecting a decrease of approximately 20.2%[61] - The net cash flow from financing activities was ¥204,678,972.33, down from ¥276,711,325.93, showing a decline of about 26%[61] - The net increase in cash and cash equivalents was ¥48,088,199.88, contrasting with a decrease of -¥436,563,367.10 in the previous period[61] - Cash inflow from operating activities totaled ¥19,502,827.18, significantly lower than ¥3,752,087,895.38 in the previous period, indicating a decrease of approximately 99.5%[63] - Cash outflow from operating activities was ¥34,007,389.72, down from ¥4,086,966,231.49, reflecting a decrease of about 99.2%[63] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,707,979,861.99, an increase of 25.03% compared to the previous year[7] - The company's total assets reached CNY 2,965,561,470.33, with current assets at CNY 1,036,777,029.47[72] - The total current liabilities increased to CNY 1,316,500,508.17 from CNY 832,856,301.46, reflecting a rise of approximately 58%[35] - The company's inventory as of September 30, 2019, was CNY 2,959,203,009.03, compared to CNY 2,467,429,067.83 at the end of 2018, marking an increase of around 19.9%[33] - The company reported a total non-current liabilities of CNY 956,881,526.60, which is an increase from CNY 617,381,526.60, representing a growth of approximately 55%[35] - Total liabilities amounted to CNY 1,450,237,828.06 as of January 1, 2019, with current liabilities totaling CNY 832,856,301.46[69] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,723[11] - The largest shareholder, Chengdu Zhongdi Chanquan Investment Group Co., Ltd., held 23.77% of the shares, totaling 71,144,800 shares[11] Expenses - Operating costs amounted to RMB 16.28 million, reflecting a year-on-year increase of 6.77% due to increased sales of the Xidiwan project[16] - Sales expenses rose significantly to RMB 45.78 million, a year-on-year increase of 531.95%, attributed to the high number of real estate development projects in the reporting period[16] - Management expenses increased to RMB 40.36 million, up 36.37% year-on-year, also due to the ongoing real estate development projects[16] - Financial expenses reached RMB 14.11 million, a substantial increase of 603.25% year-on-year, primarily due to increased borrowing and interest expenses[16] - Total operating costs increased to CNY 28,562,155.14, up 57.0% from CNY 18,208,152.18 in Q3 2018[43] - The company reported a significant increase in sales expenses to CNY 12,608,518.49, up from CNY 4,475,377.62, an increase of 181.5%[43] Investment Activities - The company has engaged in entrusted wealth management with a total amount of CNY 83,000,000.00, fully sourced from its own funds[26] - There were no securities investments reported during the period[24] - The company has not engaged in any derivative investments during the reporting period[26] - The company has not reported any violations regarding external guarantees during the reporting period[28] Accounting and Compliance - The third quarter report has not been audited[75] - The company has implemented new financial instruments or leasing standards since 2019, but it is not applicable for retrospective adjustments[76] - The company has implemented a change in the impairment method for accounts receivable from "incurred loss" to "expected loss" model[74]