Financial Performance - The company's operating revenue for 2022 was ¥149,462,333.69, a decrease of 15.24% compared to ¥176,334,372.09 in 2021[19]. - The net profit attributable to shareholders for 2022 was -¥50,162,615.70, showing an improvement of 76.77% from -¥215,911,693.13 in 2021[19]. - The net cash flow from operating activities was -¥40,878,586.88, a decline of 190.35% compared to -¥14,078,990.83 in 2021[19]. - Basic earnings per share for 2022 were -¥0.1407, an improvement of 76.93% from -¥0.6100 in 2021[19]. - The total assets at the end of 2022 were ¥968,988,048.24, a decrease of 6.78% from ¥1,039,486,499.70 at the end of 2021[19]. - The net assets attributable to shareholders at the end of 2022 were ¥369,307,314.69, down 11.96% from ¥419,469,930.39 at the end of 2021[19]. - The company reported a total revenue of 149.46 million yuan in 2022, a decrease of 15.24% compared to 176.33 million yuan in 2021[40]. - The net loss attributable to shareholders was 50.16 million yuan, a reduction in loss of 76.77% year-on-year[40]. - Retail business revenue was 144.49 million yuan, down 16.45%, accounting for 96.67% of total revenue[41]. - The total profit for 2022 was CNY -59,756,541.50, a significant reduction from CNY -295,598,067.03 in 2021[178]. - The company's operating profit was CNY -59,774,500.90, compared to CNY -295,595,348.46 in the previous year, indicating a narrowing loss[177]. Revenue and Sales Trends - The company has shown a consistent decline in revenue and profitability over the past three years, indicating ongoing financial challenges[19]. - In 2022, the company's retail sales in Dalian experienced a decline of 16.45%, with revenue amounting to 14,448.72 million yuan[34]. - The total retail sales in China for 2022 reached 43,973.3 billion yuan, a decrease of 0.2% compared to the previous year[29]. - The online retail sales in China grew by 4.0% in 2022, with physical goods online retail sales increasing by 6.2%[29]. - The company reported a quarterly operating revenue of ¥42,524,084.05 in Q1, ¥39,328,479.55 in Q2, ¥32,358,177.62 in Q3, and ¥35,251,592.47 in Q4 of 2022[23]. - Dalian Friendship reported a significant increase in online sales, which accounted for 30% of total sales in 2022, up from 20% in 2021[192]. Operational Adjustments and Strategies - The company maintained its focus on enhancing operational efficiency and optimizing the shopping experience despite the decline in sales[33]. - The company is focusing on the transformation of the Jinshigu project in Dalian and seeking strategic partnerships with other domestic real estate companies[37]. - The company plans to enhance its sustainable development capabilities by exploring external opportunities and strategic collaborations[37]. - The company aims to enhance its retail operations by optimizing management, accurately targeting customer groups, and deepening cooperation with brand partners[65]. - The company is addressing potential funding risks by improving capital structure and ensuring liquidity stability[67]. - The company has initiated a new strategy to improve supply chain efficiency, aiming to reduce operational costs by 8% in the upcoming fiscal year[192]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective internal control and risk management[71]. - The company maintains independence from its controlling shareholder in terms of personnel, assets, finance, and operations, ensuring autonomous business capabilities[75]. - The board of directors operates efficiently, fulfilling their duties and ensuring compliance with laws and regulations[72]. - The supervisory board actively monitors the legality and compliance of the actions of directors and senior management, ensuring shareholder rights are protected[73]. - The company has a dedicated financial department with an independent accounting system, ensuring financial independence and integrity[75]. - The company has implemented effective investor relations management, facilitating ongoing communication with investors through various channels[73]. Shareholder and Equity Information - The total number of shares after the recent changes is 356,400,000, maintaining a 100.00% ratio[145]. - The total number of shareholders at the end of the reporting period was 42,147, with no significant changes noted[147]. - The controlling shareholder, Wuxin Investment Holdings (Shenzhen) Co., Ltd., holds 28.06% of the shares, totaling 100,000,000 shares[148]. - The second largest shareholder, Dalian Friendship Group Co., Ltd., holds 3.34% of the shares, totaling 11,907,894 shares[148]. - The company reported no changes in the controlling shareholder or actual controller during the reporting period[150]. Future Outlook and Plans - The company plans to expand its market presence by entering three new regional markets in 2023, aiming for a revenue increase of 20% in these areas[192]. - Dalian Friendship is investing in new product development, with a budget allocation of 100 million yuan for R&D in 2023, focusing on enhancing product quality and innovation[192]. - The company has set a performance guidance for 2023, targeting a revenue growth of 10% and a net profit margin improvement of 5%[192]. - The company is exploring potential mergers and acquisitions to enhance its market share, with a focus on companies that complement its existing product lines[192]. - The company plans to expand its market presence and invest in new product development to drive future growth[194].

Group 1: Company Overview - The main business components of the company include retail, hotels, and real estate, along with traditional businesses such as ship supply and duty-free goods sales [2] - The duty-free goods sales and warehousing projects are in collaboration with China Duty Free Group Co., Ltd., primarily serving cruise ships, with stable performance [2] Group 2: Business Performance and Transformation - Traditional main business has seen a decline due to macroeconomic downturn, with further details to be released in the 2014 annual report on April 29, 2015 [3] - The company is undergoing a strategic transformation focused on service-oriented principles [3] Group 3: Market Strategy - In retail, the company aims to integrate online and offline sales, maintaining a mid-to-high-end product positioning while cautiously developing physical stores [3] - In real estate, the company plans to adjust its existing inventory and gradually change the scale and development approach of its real estate business [3] Group 4: Participation in Regional Initiatives - The company will closely monitor the progress of the "China-Japan-Korea Free Trade Zone" and "Belt and Road" initiatives, planning to integrate resources and actively participate if substantial progress is made [3]

Group 1: Company Overview and Financial Performance - Dalian Friendship (Group) Co., Ltd. aims to become a leading internet finance enterprise nationwide [1] - The company has a registered capital of 300 million CNY, making it the largest state-owned P2P lending platform in Central China [4] - As of March 2015, Han Jin Suo has achieved a transaction volume of 360 million CNY, with over 20,000 users and total investments exceeding 300 million CNY, generating profits of over 15 million CNY [3] Group 2: Risk Management and Control - The average guarantee fee rate is between 2.5% and 3%, which is considered standard in the industry [3] - The company has established a comprehensive risk management culture and system, focusing on independent checks and balances [6] - Various guarantee measures, including personal guarantees and asset pledges, are employed to effectively control business risks [6] Group 3: Strategic Development and Future Plans - The company plans to expand its business scope to include guarantee, credit, and internet finance services, enhancing synergy with existing retail and real estate operations [7] - Future development will focus on becoming a leading financing service provider in China, with strong capital and industry influence [8] - The company aims to leverage its state-owned background to explore national market expansion and establish a comprehensive business model [5] Group 4: Market Challenges and Adaptation - The retail sector faces significant challenges from e-commerce, leading to stagnant sales and market pressures [10] - The hotel industry is experiencing oversupply and competitive pricing issues, affecting overall profitability [10] - The real estate sector is undergoing adjustments after a period of growth, with a focus on meeting essential housing needs [11]

Group 1: Company Overview and Investor Relations - The company is 大连友谊 (Dalian Friendship) with stock code 000679 [1] - The investor relations activity took place on January 14, 2016, from 14:30 to 17:00 [3] - Participants included representatives from various securities and fund management companies [2] Group 2: Financial Concerns and Risk Management - Recent rumors about the major shareholder pledging company stocks were confirmed to be untrue; the major shareholder is using stock pledges for operational funding [3] - The company has been controlling its development scale since 2012 due to economic downturns, focusing on risk management [4] - The company has a three-tier risk control system and a credit review committee to ensure financial stability [4] Group 3: Business Transformation and Restructuring - The company is undergoing restructuring to adapt to economic pressures and the internet's impact on its three main business sectors: retail, hospitality, and real estate [5] - The restructuring aims to integrate financing services with existing operations to enhance investor returns [5] - The real estate sector is adjusting its inventory and focusing on essential housing projects [6] Group 4: Future Growth and Market Position - The company plans to expand its guarantee business, anticipating significant growth in the domestic guarantee industry [7] - The target for investment in 2016 is set at a minimum of 2.6 billion RMB, with aspirations to reach 5 billion RMB [10] - The company aims to establish 汉金所 (Han Jin Suo) as a leading internet finance brand in Central China [12] Group 5: Credit and Data Management - The credit business is supported by a comprehensive database of over 1 million registered enterprises in Wuhan, enhancing service offerings [9] - The company has been involved in the credit industry since 2000 and has established itself as a pilot unit for national credit systems [9] Group 6: Team and Organizational Structure - 汉金所's team consists of approximately 100 employees, with a focus on technology, product development, and marketing [12] - The company emphasizes employee satisfaction and is considering equity incentive plans in the future [12]

证券代码：000679 证券简称：大连友谊 编号：2016-002 大连友谊（集团）股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|------------------------------|------------------------------------------------------| | | √ | 特定对象调研 □分析师会议 | | | □ | 媒体采访 □业绩说明会 | | 投资者关系 | □ 新闻发布会 □路演活动 | | | 活动类别 | □ 现场参观 | | | | | □其他 （请文字说明其他活动内容） | | | | 招商证券股份有限公司：许荣聪； | | | | 兴业证券股份有限公司：陈绍兴； | | 参与单位名称 及人员姓名 | 东北证券股份有限公司：王平； | | | | | 银河金汇证券资产管理有限公司：郑锦斐； | | | | 苏州天琛投资管理有限公司：杨文剑。 | | 时间 | 2016 年 3 月 21 | 日 9:30-11:30 | | 地点 | | 武汉信用投资集团股份有限公司 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥32,358,177.62, a decrease of 24.10% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥10,669,894.92, an increase of 14.94% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥10,677,289.74, up 16.09%[5]. - The net profit for the third quarter was -41,684,381.28 CNY, compared to -47,550,803.32 CNY in the same period last year, showing an improvement of approximately 12.5%[21]. - The total operating revenue from sales of goods and services was 402,415,433.43 CNY, down from 488,430,552.95 CNY, representing a decrease of about 17.6% year-over-year[23]. - The company reported a net loss of CNY -238,713,488.65, compared to a loss of CNY -204,069,550.31 in the previous period[18]. - The total comprehensive income for the period was -41,684,381.28 CNY, compared to -47,550,803.32 CNY, marking a year-over-year improvement of approximately 12.5%[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥983,805,669.03, a decrease of 5.36% from the end of the previous year[5]. - Total assets decreased to CNY 983,805,669.03 from CNY 1,039,486,499.70, reflecting a decline of 5.4%[18]. - Total liabilities decreased slightly to CNY 645,127,642.41 from CNY 659,124,091.80, a reduction of 2.1%[18]. - The equity attributable to shareholders decreased by 8.26% to ¥384,825,992.05 compared to the end of the previous year[5]. - The company's equity attributable to shareholders decreased to CNY 384,825,992.05 from CNY 419,469,930.39, a decline of 8.3%[18]. Cash Flow - Cash flow from operating activities showed a net outflow of -¥45,257,670.85, a decrease of 55.58% year-to-date[5]. - The net cash flow from operating activities was -45,257,670.85 CNY, worsening from -29,089,766.81 CNY in the previous year[24]. - The cash and cash equivalents at the end of the period were 89,910,816.34 CNY, down from 126,609,712.75 CNY, a decrease of about 29.0%[24]. - The company's cash and cash equivalents decreased to CNY 110,584,835.34 from CNY 153,955,544.60, representing a decline of 28.1%[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,050[12]. - The largest shareholder, Wuxin Investment Holdings, held 28.06% of the shares, with 100,000,000 shares frozen[12]. Expenses and Costs - Total operating costs amounted to CNY 154,940,424.85, down 14.4% from CNY 181,145,749.82 year-over-year[20]. - The company incurred research and development expenses of 28,032,345.05 CNY, a decrease from 36,962,430.28 CNY, indicating a reduction of approximately 24.3%[21]. - The company reported a total operating expense of 453,103,947.55 CNY, down from 565,260,221.10 CNY, indicating a reduction of approximately 19.9%[24]. Credit and Impairment - The company reported a significant increase in credit impairment losses by 859.96%, primarily due to increased provisions for bad debts on other receivables[10]. - The company reported a credit impairment loss of -1,633,797.10 CNY, compared to a gain of 214,983.51 CNY in the previous year[21]. - The company experienced a 54.79% decrease in other income, mainly due to a reduction in government subsidies received[10]. Earnings Per Share - The basic and diluted earnings per share were both -¥0.030, reflecting a year-on-year increase of 14.29%[5]. - The basic and diluted earnings per share were both -0.097 CNY, compared to -0.109 CNY in the same quarter last year, reflecting an improvement of about 11%[22]. Litigation - The company is currently involved in ongoing litigation related to acquisition disputes, which may impact future profitability[14].

Financial Performance - The company achieved operating revenue of CNY 81.85 million, a decrease of 10.31% compared to the same period last year[19]. - The net loss attributable to shareholders was CNY 23.97 million, a reduction in loss of 9.38% year-on-year[19]. - Retail business revenue was CNY 81.61 million, down 9.02%, accounting for 99.71% of total revenue[27]. - Real estate sector revenue was CNY 0.24 million, a decrease of 33.41% year-on-year[27]. - The net cash flow from operating activities was CNY -9.26 million, a decline of 654.34% compared to the previous year[19]. - Total assets at the end of the reporting period were CNY 1,018.12 million, a decrease of 2.06% from the end of the previous year[19]. - The net assets attributable to shareholders were CNY 395.50 million, down 5.72% from the previous year[19]. - Basic and diluted earnings per share remained at CNY -0.07, unchanged from the previous year[19]. - The weighted average return on net assets was -5.88%, a decrease of 1.63% compared to the previous year[19]. - The company reported a significant decrease in investment cash flow, with a net outflow of -¥2,275,920.21 compared to a net inflow of ¥60,906,848.64 in the same period last year, marking a 103.74% decline[41]. - The net profit attributable to the parent company was a loss of ¥23,974,043.42, compared to a loss of ¥26,455,308.17 in the previous year, showing an improvement[121]. - The net cash flow from operating activities for the first half of 2022 was -3,090,147.79 RMB, an improvement from -11,068,538.58 RMB in the same period of 2021, indicating a reduction in cash outflow[128]. Retail and Market Trends - In the first half of 2022, the total retail sales of consumer goods in China reached 21,043.2 billion CNY, a year-on-year decrease of 0.7%[28]. - Online retail sales amounted to 6,300.7 billion CNY, growing by 3.1% year-on-year, with physical goods online retail sales at 5,449.3 billion CNY, an increase of 5.6%[28]. - The company’s retail sales in Dalian are gradually recovering but still lag behind pre-pandemic levels[31]. - The company has implemented new retail elements such as live streaming sales and frequent promotional activities to boost sales[31]. - The company’s department store sales in Dalian reported a revenue of 81.61 million CNY, a decrease of 9.02% year-on-year[33]. Real Estate Strategy - The company is currently evaluating the transformation plan for the "Jinshi Valley" project, which was previously on hold due to policy reasons[35]. - The company has adjusted its real estate development strategy to focus on "developing small plots in central urban areas," establishing a competitive edge in the market[39]. - The company plans to seek strategic partnerships with other domestic real estate companies to enhance its resilience against industry risks and pursue sustainable development[39]. Financial Management and Risks - The company faced risks including market volatility and funding pressures due to prolonged project cash return times[58]. - The company plans to enhance budget management and improve capital structure to mitigate liquidity risks[58]. - The company aims to develop a multi-channel sales model to counteract the impact of regional pandemic outbreaks on retail operations[57]. - The company is committed to aligning its strategies with national policies to navigate the uncertainties in the real estate market[58]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the semi-annual period[62]. - There were no stock incentive plans or employee stock ownership plans implemented during the reporting period[63]. - The company and its subsidiaries are not classified as key pollutant discharge units and faced no administrative penalties for environmental issues during the reporting period[65]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[70]. - The semi-annual financial report has not been audited[72]. - The company did not engage in any major related party transactions during the reporting period[76]. - The company has no significant guarantees during the reporting period[88]. - The company has not conducted any trust investments during the reporting period[89]. - The company has no major litigation or arbitration matters during the reporting period[74]. - The company is involved in ongoing litigation related to acquisition disputes, with the latest ruling from the Supreme People's Court indicating that the original judgment was flawed and has been sent back for retrial[91]. Financial Position and Assets - As of the report date, the company has 20,615 ordinary shareholders, with the largest shareholder, Wuxin Investment Holdings, holding 28.06% of the shares[97]. - The total number of unrestricted shares remains at 356,400,000, representing 100% of the company's shares[96]. - The company's current assets totaled CNY 283,304,111.23, down from CNY 292,579,921.53 at the start of the year, indicating a decline of approximately 3.9%[111]. - The fixed assets were valued at CNY 202,584,905.69, a decrease from CNY 209,728,461.57, reflecting a decline of about 3.4%[112]. - The company's cash and cash equivalents stood at CNY 146,716,876.13, down from CNY 153,955,544.60, representing a decrease of approximately 4.7%[111]. - The total liabilities increased to CNY 1,270,044,190.59 as of June 30, 2022, compared to CNY 1,258,817,669.78 at the start of the year, marking a rise of 0.2%[117]. - The company's total equity decreased to CNY 268,580,392.37 from CNY 279,888,909.30 at the beginning of the year, reflecting a decline of 4.0%[117]. Accounting and Financial Reporting - The financial report was approved by the board of directors on August 30, 2022[147]. - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance[151]. - The company has assessed its ability to continue as a going concern for the next 12 months and found no significant doubts[152]. - The accounting policies and estimates are tailored to the company's operational characteristics, including financial instruments and revenue recognition[153]. - The company’s financial statements reflect its financial position, operating results, and cash flows accurately and completely[154]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[161]. Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[135]. - The management provided a positive outlook for the second half of 2022, expecting continued growth driven by increased consumer demand and strategic initiatives[138]. - Future outlook remains positive, with expectations for continued growth in revenue and profit margins[142].

Corporate Governance - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[6]. - All directors attended the board meeting to review the annual report[5]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[5]. - The company maintained a strict governance structure in compliance with relevant laws and regulations, ensuring effective internal controls and risk management[79]. - The board of directors and supervisory board operate independently, ensuring compliance and oversight of management activities[80]. - The company has established a fully independent financial department and accounting system, ensuring no overlap with the controlling shareholder's financial operations[83]. - There were no reported instances of related party transactions during the reporting period, ensuring transparency and fairness in operations[80]. - The governance structure is aligned with the requirements set by the China Securities Regulatory Commission, with no significant discrepancies noted[82]. - The company has established a clear separation of personnel, assets, and financial responsibilities from the controlling shareholder, ensuring operational independence[83]. - The company has implemented effective investor relations management, facilitating continuous communication with investors through various channels[82]. Financial Performance - The company's operating revenue for 2021 was ¥176,334,372.09, a slight increase of 0.32% compared to ¥175,772,709.74 in 2020[21]. - The net profit attributable to shareholders in 2021 was -¥215,911,693.13, representing a significant decline of 938.05% from ¥25,763,584.19 in 2020[21]. - The net profit after deducting non-recurring gains and losses was -¥217,303,253.38, a decrease of 15.44% compared to -¥188,234,198.87 in 2020[21]. - The net cash flow from operating activities improved by 70.81%, reaching -¥14,078,990.83 in 2021, compared to -¥48,234,565.00 in 2020[21]. - The total assets at the end of 2021 were ¥1,039,486,499.70, a decrease of 22.67% from ¥1,344,177,161.27 at the end of 2020[21]. - The net assets attributable to shareholders decreased by 34.03%, amounting to ¥419,469,930.39 at the end of 2021, down from ¥635,828,426.84 at the end of 2020[21]. - The basic earnings per share for 2021 was -¥0.61, a decline of 971.43% from ¥0.07 in 2020[21]. - The weighted average return on net assets was -40.94% in 2021, a drop of 45.08% from 4.14% in 2020[21]. - The company's revenue after deducting certain income was ¥161,841,795.60 in 2021, compared to ¥174,643,048.78 in 2020[22]. - The company reported a net loss of CNY 204,069,550.31 in 2021, compared to a profit of CNY 12,288,946.14 in 2020[186]. Market and Operational Insights - The company has reported a continuous operating capability uncertainty as the net profit has been negative for the last three accounting years[21]. - The company's retail sales in Dalian increased by 10.52% year-on-year, with total sales revenue reaching CNY 17.29 million[37]. - The overall retail market in China saw a 12.5% growth in 2021, with online retail sales increasing by 14.1%[32]. - The real estate development investment in China grew by 4.4% in 2021, with residential investment rising by 6.4%[33]. - The company has implemented new retail strategies, including live streaming sales, to adapt to market changes and consumer demands[35]. - The company achieved a total revenue of 176.33 million yuan in 2021, representing a year-on-year growth of 0.32%[43]. - The retail segment generated revenue of 172.92 million yuan, accounting for 98.07% of total revenue, with a year-on-year increase of 10.52%[45]. - The real estate segment reported revenue of 1.05 million yuan, a significant decline of 92.70% compared to the previous year[45]. - The company is focusing on the transformation of the "Jinshi Valley" project in Dalian, which has faced regulatory changes requiring project adjustments[40]. - The company plans to seek strategic partnerships with other domestic real estate companies to enhance resilience against industry risks[40]. Risk Management - The company faces risks from recurring pandemics, which could impact retail operations and consumer confidence[74]. - The real estate sector is under significant policy risk, with ongoing government regulations expected to remain stringent[74]. - The company is addressing liquidity risks by ensuring cash flow stability and improving capital structure management[75]. - The competitive landscape in the real estate market is intensifying, necessitating strategic collaborations to mitigate investment risks[75]. Employee and Management Structure - The total number of employees at the end of the reporting period was 451, with 266 in sales, 86 in technical roles, 30 in finance, and 69 in administration[108]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to RMB 4.39 million[99]. - The company has focused on enhancing its employee compensation system to align with market standards and improve overall employee performance[109]. - A total of 75 training sessions were conducted in 2021, with 280 participants and a total of 408 hours of training completed[110]. Audit and Compliance - The audit committee reviewed the annual audit process and confirmed the adequacy of the audit evidence obtained by the auditing firm[106]. - The internal control self-assessment report indicates that 100% of the total assets and operating income of the evaluated units are included in the company's consolidated financial statements[116]. - There were no significant defects identified in financial or non-financial reporting, with zero major defects reported[117]. - The internal control audit report received a standard unqualified opinion, confirming effective internal controls over financial reporting[118]. - The company has committed to strict compliance with relevant laws and regulations, ensuring no major issues requiring rectification were found during self-inspection[118]. Shareholder Information - The total number of shares is 356,400,000, with 100% being unrestricted shares[156]. - The largest shareholder, Wuxin Investment Holdings (Shenzhen) Co., Ltd., holds 100,000,000 shares, representing 28.06% of total shares[158]. - The second largest shareholder, Dalian Friendship Group Co., Ltd., holds 11,907,894 shares, accounting for 3.34% of total shares[159]. - The company reported a total of 17,145 shareholders at the end of the reporting period, an increase from 16,705 in the previous month[158]. - The shareholder structure remains stable with no significant changes in the number of shares held by major shareholders[159]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 10% for the next fiscal year, targeting 1.32 billion CNY[89]. - The company is investing 100 million CNY in R&D for new technologies aimed at enhancing customer experience and operational efficiency[91]. - Market expansion plans include entering two new provinces, expected to increase market share by 5%[88]. - The management team emphasized a focus on digital transformation, aiming to increase online sales by 30% in the coming year[90].

Financial Performance - The company's operating revenue for Q1 2022 was ¥42,524,084.05, a decrease of 9.14% compared to ¥46,801,301.83 in the same period last year[3] - The net profit attributable to shareholders was -¥9,638,636.77, an improvement of 14.50% from -¥11,273,656.45 year-on-year[3] - Total revenue for the current period was CNY 42,524,084.05, a decrease of 9.7% compared to CNY 46,801,301.83 in the previous period[16] - Net profit for the current period was a loss of CNY 12,072,181.67, an improvement from a loss of CNY 15,803,454.44 in the previous period[17] - The total comprehensive income attributable to the parent company was -9,638,636.77 CNY, compared to -11,273,656.45 CNY in the previous period, showing an improvement of approximately 14.5%[18] Cash Flow - The net cash flow from operating activities decreased by 596.57%, resulting in -¥35,547,612.36, compared to a positive cash flow of ¥7,158,626.79 in the previous year[3] - Cash inflow from operating activities totaled 161,169,790.57 CNY, down 7.8% from 173,600,704.38 CNY in the previous period[21] - Cash outflow from operating activities increased to 196,717,402.93 CNY, compared to 166,442,077.59 CNY in the previous period, representing an increase of approximately 18.2%[21] - The net cash flow from investing activities was -108,196.82 CNY, a decrease from 61,193,752.67 CNY in the previous period[21] - Cash inflow from financing activities was 8,400,000.00 CNY, while cash outflow was 1,206,482.83 CNY, resulting in a net cash flow of 7,193,517.17 CNY[22] - The ending cash and cash equivalents balance was 104,339,233.59 CNY, down from 181,932,657.01 CNY in the previous period, reflecting a decrease of approximately 42.6%[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,006,209,887.45, down 3.20% from ¥1,039,486,499.70 at the end of the previous year[3] - Total liabilities decreased to CNY 637,919,661.22 from CNY 659,124,091.80, a reduction of 3.2%[14] - The company's equity attributable to shareholders decreased to CNY 409,831,293.64 from CNY 419,469,930.39, a decline of 2.8%[14] Expenses - The company's management expenses decreased by 58.53% year-on-year, attributed to the reclassification of expenses directly related to operating revenue[5] - The company reported a significant increase in tax expenses, amounting to CNY 183,128,908.11, compared to CNY 186,204,805.52 in the previous period[13] Other Financial Metrics - The weighted average return on net assets was -2.32%, a decline of 0.53% from -1.79% in the same period last year[3] - Basic and diluted earnings per share remained at -0.03 CNY, unchanged from the previous period[18] - The total number of ordinary shareholders at the end of the reporting period was 16,705[8] Receivables and Inventory - Accounts receivable decreased significantly to CNY 67,911.22 from CNY 325,934.05, a reduction of 79.2%[12] - Inventory increased to CNY 35,167,129.52 from CNY 32,984,233.19, an increase of 6.6%[12] Credit and Borrowings - The company reported a 4036.21% increase in credit impairment losses, primarily due to increased provisions for bad debts on other receivables[5] - Short-term borrowings increased by 100% compared to the beginning of the period, indicating a significant rise in bank loans[5] Audit - The company did not conduct an audit for the first quarter report[23]

Financial Performance - The company's operating revenue for Q3 2021 was ¥42,632,943.31, representing a slight increase of 0.01% compared to the same period last year[2] - The net profit attributable to shareholders was -¥12,543,546.43, a significant decrease of 793.61% year-on-year[2] - The net profit excluding non-recurring gains and losses was -¥12,724,856.85, which is an increase of 4.63% compared to the previous year[2] - The basic and diluted earnings per share were both -¥0.035, reflecting a decrease of 800.00% year-on-year[2] - Net profit for Q3 2021 was a loss of CNY 47,550,803.32, compared to a net profit of CNY 10,251,204.10 in Q3 2020, indicating a significant decline[17] - The company's basic and diluted earnings per share for Q3 2021 were both -0.109, down from 0.08 in the same period last year[17] - The company reported a total comprehensive loss of CNY 47,550,803.32 for Q3 2021, compared to a comprehensive income of CNY 10,251,204.10 in Q3 2020[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,250,338,140.76, down 6.98% from the end of the previous year[2] - As of September 30, 2021, the total current assets amount to CNY 280,748,417.79, down from CNY 366,826,499.90 at the end of 2020, representing a decrease of about 23.4%[11] - The company's non-current assets total CNY 969,589,722.97, slightly down from CNY 977,350,661.37, a decrease of about 0.8%[12] - The total liabilities as of September 30, 2021, are CNY 621,250,538.26, down from CNY 667,538,755.45, reflecting a decrease of approximately 6.9%[13] Cash Flow - The company's cash flow from operating activities was -¥29,089,766.81, indicating a decline of 101.50% year-to-date[2] - Cash flow from operating activities showed a net outflow of CNY -29,089,766.81 in Q3 2021, compared to a net inflow of CNY 1,934,420,433.17 in Q3 2020[19] - Cash and cash equivalents at the end of Q3 2021 totaled CNY 126,609,712.75, down from CNY 197,009,127.91 at the end of Q3 2020[21] - The company's cash and cash equivalents decreased to CNY 147,763,731.75 from CNY 169,101,648.93, a decline of approximately 12.6%[11] - The net cash flow from investment activities was CNY 59,413,332.16 in Q3 2021, compared to a net outflow of CNY -422,443,600.24 in Q3 2020[21] Operating Costs and Expenses - The company's operating costs increased by 52.27% compared to the beginning of the year, primarily due to adjustments in accounting standards[6] - Total operating costs for Q3 2021 were CNY 181,145,749.82, an increase from CNY 145,079,046.09 in Q3 2020, representing a growth of approximately 24.9%[16] - Financial expenses increased by 337.96% year-on-year, mainly due to interest expenses related to the disposal of subsidiary equity[6] - The company incurred financial expenses of CNY 21,340,364.66 in Q3 2021, significantly higher than CNY 4,872,720.26 in Q3 2020[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,592, with the largest shareholder holding 28.06% of the shares[6] Government Subsidies - The company received government subsidies amounting to ¥181,210.00 during the reporting period, with total non-recurring gains and losses of ¥181,310.42[4] Legal and Regulatory Matters - The company has ongoing litigation related to acquisition disputes, with the case currently under review by the Supreme People's Court[9] - The company is undertaking a project to rectify areas of the Jinshigu Golf Course that overlap with a national scenic area, with potential financial implications yet to be assessed[9] Leasing and Loans - The company has renewed a lease for a property with a total area of 6,767.83 square meters at a rental rate of CNY 2.25 per square meter per day, resulting in an annual rent of CNY 5,558,080.39[8] - The company plans to extend two existing loans totaling CNY 22,000,000 at an interest rate of 8.6% until December 31, 2021[8] Accounting Standards - The company implemented the new leasing standards starting January 1, 2021, without needing to adjust the beginning balance sheet items[22] - All existing lease contracts as a lessee were treated as short-term leases or low-value asset leases, thus no retrospective adjustments were necessary[22] Audit Status - The third quarter report for 2021 was not audited[24]