Financial Performance - The company's operating revenue for Q1 2014 was ¥2,313,173.07, a decrease of 90.85% compared to ¥25,272,516.59 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥12,340,851.49, representing a decline of 1,122.2% from a profit of ¥1,207,278.90 in the previous year[9] - The net cash flow from operating activities increased by 508.34% to ¥179,983,887.45, compared to ¥29,586,300.04 in the same period last year[9] - The basic and diluted earnings per share were both -¥0.08, a decrease of 900% compared to ¥0.01 in the same period last year[9] - The weighted average return on equity was -1.86%, down by 2.03% from 0.17% in the previous year[9] - The estimated cumulative net profit for the first half of 2014 is projected to be a loss between 22 million and 18 million RMB, indicating a significant decline compared to the previous year[21] - The basic earnings per share for the same period is expected to be between -0.15 and -0.12 RMB, reflecting a decrease of 134.59% year-over-year[23] Assets and Shareholder Information - The total assets at the end of the reporting period were ¥1,535,106,466.61, reflecting a slight increase of 0.91% from ¥1,521,211,458.14 at the end of the previous year[9] - The net assets attributable to shareholders decreased by 1.84% to ¥657,866,962.17 from ¥670,207,813.66 at the end of the previous year[9] - The total number of shareholders at the end of the reporting period was 12,510[12] - The largest shareholder, Shengshida Investment Co., Ltd., held 39.28% of the shares, totaling 57,680,703 shares[12] Asset Restructuring - The company has been planning a major asset restructuring since August 13, 2013, with multiple announcements regarding the progress of this restructuring[18] - The company has been actively communicating with stakeholders regarding the progress of major asset restructuring, with multiple discussions held throughout January to March 2014[27][28] Investments - There were no securities investments reported during the period, with a total initial investment of 0 RMB and no shares held[24] - The company has not engaged in any derivative investments during the reporting period, with a total initial investment of 0 RMB[26] Commitments - The company has ongoing commitments regarding competition from major shareholders, which have been in effect since January 22, 2008, and are currently being fulfilled[20]

Financial Performance - The company's operating revenue for 2013 was CNY 118,351,874.94, representing a 68.83% increase compared to CNY 70,101,842.50 in 2012[23] - The net profit attributable to shareholders for 2013 was CNY 1,768,186.98, showing a slight decrease of 0.09% from CNY 1,769,710.24 in 2012[23] - The net profit after deducting non-recurring gains and losses was CNY 4,973,761.35, a significant increase of 256.77% from a loss of CNY 3,172,613.98 in 2012[23] - The total assets at the end of 2013 amounted to CNY 1,521,211,458.14, which is a 36.39% increase from CNY 1,115,379,143.17 at the end of 2012[23] - The net assets attributable to shareholders at the end of 2013 were CNY 670,207,813.66, reflecting a marginal increase of 0.04% from CNY 669,908,045.58 in 2012[23] - The basic earnings per share for 2013 remained at CNY 0.01, unchanged from 2012[23] - The weighted average return on equity for 2013 was 0.26%, consistent with the previous year[23] Cash Flow - The net cash flow from operating activities for 2013 was negative at CNY -165,544,135.88, worsening by 68.07% compared to CNY -98,497,904.81 in 2012[23] - Operating cash inflow for 2013 was 260.03 million yuan, a 65.81% increase from 2012, while cash outflow was 425.57 million yuan, a 66.68% increase[42] - The net cash flow from operating activities in 2013 was -165.54 million yuan, worsening by 68.07% compared to the previous year[42] - The net cash flow from financing activities rose by 208.8%, mainly attributed to increased borrowings[43] - Total cash and cash equivalents increased by 672.67%, reaching 211,338,168.22[43] Sales and Revenue - In 2013, the company achieved a main business revenue of 108.65 million yuan, an increase of 82.69% compared to 2012, primarily due to increased sales efforts in Beijing projects[34] - The company sold 31 residential units with a total area of 4,349 square meters in 2013, generating sales revenue of 108.65 million yuan[36] - The cost of housing sales in 2013 was 24.07 million yuan, accounting for 82.71% of the total operating costs, representing a 109% increase from 2012[39] - Real estate segment revenue was 108,646,647.00, with a year-on-year growth of 82.69%[45] - The gross profit margin for real estate sales was 77.84%, a decrease of 2.8% compared to the previous year[45] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.10 per 10 shares to all shareholders[5] - The company reported a cash dividend of 1,468,418.90 yuan for the year 2013, representing 83.05% of the net profit attributable to shareholders[86] - The cash dividend policy was revised to ensure protection of minority investors' rights, with a consistent dividend of 0.1 yuan per 10 shares over the past three years[84] Risks and Future Outlook - The company has outlined potential risks and countermeasures in its future development outlook[13] - The real estate market is expected to face tightening regulations, particularly regarding property registration and tax implementation, which may introduce uncertainties[76] - The overall investment environment in the real estate sector is improving, but external economic uncertainties remain a concern for future growth[76] - The company anticipates a net profit loss of approximately -1,400 million yuan for the upcoming reporting period, representing a 928% decrease compared to the previous year[75] - The basic earnings per share are projected to be 0.01 yuan, reflecting an 800% decline from the previous year[75] Governance and Compliance - The company has a solid governance structure and internal management system, ensuring orderly business operations[54] - The company emphasizes compliance with laws and regulations while pursuing economic benefits and fulfilling social responsibilities[88] - The company strictly adhered to the Shenzhen Stock Exchange's fair information disclosure guidelines, ensuring no violations occurred during the reporting period[91] - The company has not been subject to any administrative penalties during the reporting period[89] - The company’s governance structure was aligned with legal requirements, ensuring the protection of all shareholders' interests[150] Management and Personnel - The company’s management team has a diverse background in finance, engineering, and management, contributing to its strategic decision-making[135] - The company had a total of 61 employees as of December 31, 2013, including 3 retired staff[143] - Among the employees, 60.66% held a bachelor's degree or higher, while 29.51% had a college diploma[145] - The total remuneration for the in-service directors, supervisors, and senior management personnel was 1.9855 million yuan as of December 31, 2013[138] Financial Reporting and Audit - The company reported a standard unqualified audit opinion for the financial statements as of December 31, 2013, indicating compliance with accounting standards[177] - The audit report was signed on April 25, 2014, by Union Power Certified Public Accountants[174] - The financial statements reflect the company's financial position and operating results fairly and completely[181] - The company follows the enterprise accounting standards for the preparation of its financial statements[181] Investments and Acquisitions - The company has not made any changes to the use of raised funds, maintaining a consistent investment strategy[64] - The company has not reported any significant new product developments or technological advancements during the reporting period, suggesting a potential area for future growth[99] - The company has no significant investments or acquisitions reported in the current financial year[102] Shareholder Structure - The total number of shares is 146,841,800, with 99.89% being unrestricted shares[116] - The largest shareholder, Shengshida Investment Co., Ltd., holds 39.28% of the shares, totaling 57,680,703 shares[119] - The company has 12,510 shareholders at the end of the reporting period, compared to 13,453 five trading days prior[119] - The shareholder structure remains stable with no significant changes reported[120]