Financial Performance - The company's operating revenue for the first half of 2019 was ¥11,782,613.02, a decrease of 16.59% compared to ¥14,125,862.86 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥4,076,269.72, representing an 85.52% increase in loss compared to a loss of ¥2,197,155.00 in the previous year[17]. - The company reported a gross profit margin of 3.08% for the period, with operating costs at 11.42 million RMB[32]. - The company’s cash flow from operating activities improved by 134.85% to 2.78 million RMB compared to a negative cash flow in the previous year[37]. - The company reported a total comprehensive loss of CNY 2,654,349.64 for the first half of 2019, compared to a loss of CNY 2,153,234.57 in the same period of 2018, indicating a year-over-year increase in comprehensive loss of approximately 23.1%[143]. - The basic earnings per share for the first half of 2019 was CNY -0.0126, compared to CNY -0.0068 in the first half of 2018, indicating a decline in profitability per share[138]. Assets and Liabilities - The total assets at the end of the reporting period were ¥186,026,655.17, down 6.27% from ¥198,474,606.91 at the end of the previous year[17]. - The total liabilities decreased to CNY 91,612,017.79 from CNY 99,732,121.52, reflecting a reduction of about 8.5%[129]. - The company's equity attributable to shareholders decreased to CNY 81,338,584.67 from CNY 85,414,854.39, indicating a decline of approximately 4.5%[129]. - The company has overdue loans amounting to CNY 14.8786 million, with a commitment to repay by July 31, 2019, and an additional CNY 10 million by October 31, 2019[64]. - The company has outstanding debts totaling CNY 18,427,500, with CNY 14,878,100 of bank loans overdue, raising concerns about its ongoing viability[168]. Cash Flow - The net cash flow from operating activities improved to ¥2,780,855.10, a significant increase of 134.85% from a negative cash flow of ¥7,978,614.76 in the same period last year[17]. - The cash outflow from financing activities totaled 7,000,000.00 RMB, resulting in a net cash flow of -7,000,000.00 RMB from financing activities[150]. - The net increase in cash and cash equivalents was -1,367,263.76 RMB, with a closing balance of 23,402.09 RMB[150]. Strategic Developments - The company plans to actively develop the B District project, which has been renamed from the originally planned D District, but progress is slow due to resident relocation and funding issues[23]. - The company is currently involved in litigation regarding a loan guarantee, with a potential liability of CNY 13.422 million[69]. - The company is undergoing a major asset restructuring to transition into the pharmaceutical industry, with plans to acquire at least 70% of Chengdu Xinjie High-tech Development Co., Ltd.[95]. - The company is focused on enhancing its operational capabilities to resolve ongoing financial challenges[64]. Legal and Compliance Issues - The company has a significant legal risk related to a court-ordered freeze on assets worth 13,422,689.10 due to ongoing litigation[43]. - The company is under legal proceedings regarding the forced liquidation of assets, which may impact its financial position[59]. - The company has committed to recover 30 million yuan from Beijing Lanjingli Family Furniture Co., Ltd. and is actively pursuing legal action to ensure this recovery[59]. Shareholder Information - The total number of shares is 323,270,000, with 10.14% (32,783,700 shares) being subject to restrictions and 89.86% (290,486,300 shares) being unrestricted[110]. - The largest shareholder, Beijing Dashi Investment Co., Ltd., holds 9.97% (32,220,200 shares) of the total shares, with no changes during the reporting period[112]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[114]. Market Conditions - The company has a high brand recognition and market acceptance in the local area, although sales have been challenging due to a sluggish market[23]. - The company is currently developing the "Asia-Pacific Rose Garden" project, but sales have been slow due to a lack of market activity, with remaining unsold properties and parking spaces[168]. Future Outlook - The estimated net profit for the period from January to September 2019 is expected to be a loss of between 6 million and 4.8 million, primarily due to a decrease in available housing sources[50]. - The company plans to achieve sales revenue of 28 million RMB and cash collection of 12 million RMB in the second half of 2019[32]. - The company is expected to continue monitoring its cash flow and investment strategies moving forward[153].

Financial Performance - The company's operating revenue for 2018 was ¥37,721,516.23, a decrease of 18.26% compared to ¥46,147,810.94 in 2017[16] - The net profit attributable to shareholders in 2018 was ¥11,002,564.38, representing a significant increase of 227.93% from a loss of ¥8,600,632.59 in 2017[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥8,170,576.25, a slight improvement of 7.56% from -¥8,839,027.17 in 2017[16] - The net cash flow from operating activities decreased by 37.37% to ¥9,249,396.33 compared to ¥14,767,153.41 in the previous year[18] - Basic and diluted earnings per share increased by 213.33% to ¥0.034 from a loss of ¥0.03 in the previous year[18] - The weighted average return on equity improved to 13.77%, up from -10.93% in the previous year, representing a 24.70% increase[18] - Total assets decreased by 21.55% to ¥198,474,606.91 from ¥252,987,702.89 at the end of the previous year[18] - Net assets attributable to shareholders increased by 14.79% to ¥85,414,854.39 from ¥74,412,290.01 at the end of the previous year[18] Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[6] - The company did not distribute cash dividends for the fiscal year 2018, with a total cash dividend amount of 0.00[72] - The company reported a net profit available for distribution to ordinary shareholders, but no cash dividend distribution plan was proposed[73] - The company has not distributed any cash dividends or bonus shares over the past three years, indicating potential liquidity issues[71] Shareholder Information - The company’s major shareholder, Lanzhou Yatai Industrial Group, held 54,740,795 shares, accounting for 16.93% of the total shares as of December 31, 2018[16] - The total number of shares is 323,270,000, with 10.14% being limited shares and 89.86% being unrestricted shares[134] - The number of shareholders increased from 19,516 to 21,897 during the reporting period[136] - The largest shareholder, Lanzhou Asia-Pacific Industrial Group Co., Ltd., holds 32,177,295 shares, accounting for 9.95% of total shares[138] - The second largest shareholder, Lanzhou Taihua Investment Holding Co., Ltd., holds 22,000,000 shares, representing 6.98% of total shares[138] Legal and Regulatory Issues - The company is currently facing significant operational risks due to its reliance on the "Asia-Pacific Rose Garden" real estate project, with limited cash flow and ongoing challenges in project development[64] - The company is involved in multiple legal disputes, including a lawsuit with a bank that has resulted in the seizure of 13.42 million yuan in equity, which may lead to further litigation risks[65] - The company has a contingent liability of 1,342,000 yuan related to a lawsuit involving its subsidiary Tianjin Green Source[89] - The company is involved in a legal case with Tianjin Huaheng Xinrui Asset Management Co., with a debt amounting to 2,800,000 yuan[89] - The company has received a court ruling requiring it to pay 4,167,832.18 yuan plus interest to Gansu Fourth Construction Group Co., Ltd. for project payments[93] Business Strategy and Transformation - The company plans to transform its business towards the pharmaceutical industry and has signed a memorandum to acquire at least 70% of Chengdu Xinhengchuang Pharmaceutical Co., Ltd.[63] - The company is focused on expanding its market presence in Lanzhou, leveraging its brand recognition and development experience in the local real estate sector[26] - The company has actively participated in regulatory meetings and is working on mergers and acquisitions to promote business transformation[34] - The company plans to achieve a sales revenue of CNY 40 million in 2019, with a cash return target of CNY 20 million[33] Financial Management and Audit - The company has engaged Lianda Certified Public Accountants for auditing, which provided an unqualified opinion with emphasis on certain matters[5] - The company received a non-standard audit report from Lianda CPA, which reflects the company's financial status and potential risks[82] - The company’s financial statements were prepared in accordance with accounting standards, reflecting its financial position and operating results accurately[188] - The audit identified key audit matters, including revenue recognition and debt restructuring, which were deemed critical for the financial statements.[192] Operational Challenges - The company has faced challenges in selling its remaining properties due to a lack of an active market, leading to a severe shortage of available housing.[190] - The company’s "Asia-Pacific Rose Garden" project has seen slow development in zones B-D due to resident relocations and financial constraints, with only a small number of shops and parking spaces remaining for sale in zone A.[190] - The company has acknowledged that commitments made regarding "Blue View Home" and "Tongliao Land" do not meet regulatory requirements due to legal obstacles[78] Employee and Management Structure - The total number of employees in the company is 28, with 15 in the parent company and 13 in major subsidiaries[161] - The company has a total of 5 financial personnel and 17 administrative personnel among its employees[162] - Several senior management personnel, including the financial director, left the company for personal reasons in April 2018[149] - The current chairman and general manager, Ma Bing, has been with the company since 2016 and has held various positions[150] Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operation from its controlling shareholder[168] - The attendance rate for the annual shareholder meeting was 17.00%, while the attendance for the first extraordinary shareholder meeting was 16.89%[169] - Independent directors attended all required board meetings and did not raise any objections to company matters during the reporting period[171] - The company reported zero significant internal control deficiencies during the reporting period[178] Related Party Transactions - The company reported a total of 14.01 million yuan in related party transactions for the year, with a breakdown of 2.11 million yuan for property management fees and 1.01 million yuan for water and electricity fees[98] - The company has a total of 39.53 million yuan in payables to related parties, with no repayments made during the reporting period[102] - A guarantee of 40 million yuan was provided for a bank loan to a subsidiary, with 20 million yuan remaining as of December 17, 2018[103] Future Outlook - The company is optimistic about its future development and capital market conditions, which influenced its shareholding increase plan[79] - The company has plans to assist in recovering related assets worth 30 million yuan, with a current impairment provision of 12,780,401.68 yuan for intangible assets[76] - The company’s management has disclosed plans to address the uncertainties affecting its ongoing operations in the financial statements.[190]

Financial Performance - The company's operating revenue for Q1 2019 was ¥9,040,629.63, representing a 16.29% increase compared to ¥7,773,986.91 in the same period last year[8] - The net profit attributable to shareholders was -¥1,505,923.44, a decrease of 9.77% from -¥1,371,944.24 year-on-year[8] - The company's basic earnings per share were -¥0.0047, a decline of 11.90% compared to -¥0.0042 in the same period last year[8] - The company expects a net loss attributable to shareholders of between 4 million and 6 million yuan for the first half of 2019, representing a decrease of 117.43% compared to the same period last year[25] - Basic earnings per share are projected to be between -0.0186 and -0.0124 yuan, indicating a decline of 172.95% year-over-year[25] - Net loss for Q1 2019 was CNY -1,591,863.02, compared to a net loss of CNY -1,362,015.81 in Q1 2018, reflecting a decline in profitability[46] - Total comprehensive income for the first quarter was -1,005,673.91 CNY, compared to -1,288,091.85 CNY in the same period last year, reflecting a 22% improvement[50] Cash Flow and Operating Activities - The net cash flow from operating activities improved significantly to ¥1,979,100.06, a 290.52% increase from -¥1,038,793.06 in the previous year[8] - Cash received from sales of goods and services increased by 267.41% to ¥6,760,617.21 from ¥1,840,058.10 in the previous year[17] - The company reported cash payments for operating activities of CNY 1,667,955.13, an increase of 23.96% compared to the previous year[18] - Operating cash flow for the period was 1,979,100.06 CNY, a significant recovery from -1,038,793.06 CNY in the previous year[54] - The company reported cash inflows from operating activities totaling 6,927,139.96 CNY, compared to 2,447,201.76 CNY in the same period last year, marking an increase of approximately 183%[53] - Cash outflows from operating activities were 4,948,039.90 CNY, compared to 3,485,994.82 CNY in the previous year, representing an increase of about 42%[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥188,476,372.16, down 5.04% from ¥198,474,606.91 at the end of the previous year[8] - As of March 31, 2019, total current assets amounted to 147,870,189.88 yuan, down from 157,543,225.49 yuan at the end of 2018, reflecting a decrease of approximately 6.5%[36] - The company's total assets as of March 31, 2019, were 188,476,372.16 yuan, compared to 198,474,606.91 yuan at the end of 2018, indicating a decline of about 5.0%[36] - Total liabilities decreased from 99,732,121.52 yuan at the end of 2018 to 91,325,829.01 yuan as of March 31, 2019, a reduction of approximately 8.5%[37] - The company's equity attributable to shareholders decreased from 85,414,854.39 yuan at the end of 2018 to 83,908,930.95 yuan as of March 31, 2019, a decline of about 1.8%[38] Management and Expenses - The company's management expenses decreased by 29.03% to ¥1,205,712.25 from ¥1,698,949.51 year-on-year[16] - The financial expenses were reduced by 46.22% to ¥364,766.16, down from ¥678,259.14, due to a decrease in loan principal and corresponding interest[16] - Total operating costs for Q1 2019 were CNY 10,632,492.65, up 16.4% from CNY 9,136,002.72 in the previous year[44] Legal and Asset Recovery - The company is actively pursuing the recovery of CNY 30 million related to the "Blue Scenery Home" investment asset, with legal proceedings ongoing[20] - The company has committed to compensating for any shortfall in asset recovery, with a guarantee of CNY 30 million in cash or equivalent assets if recovery efforts fail[23] - The company plans to assist in the disposal of the "Tongliao Land" asset, which is still pending resolution[20] - The company is currently in the process of appealing a court decision regarding the forced liquidation of "Blue Scenery Home" assets[24] - The company has not yet completed the disposal of the Tongliao land, which remains a focus for future actions[20] Other Information - The company reported no non-recurring gains or losses during the reporting period[8] - The company has not engaged in any securities or derivative investments during the reporting period[26][27] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[31] - The first quarter report was not audited[59]

海南亚太实业发展股份有限公司 2018 年第三季度报告正文 证券代码：000691 证券简称：亚太实业 公告编号：2018-072 海南亚太实业发展股份有限公司 2018 年第三季度报告正文 1 海南亚太实业发展股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人马兵、主管会计工作负责人马兵及会计机构负责人(会计主管人 员)朱栋声明：保证季度报告中财务报表的真实、准确、完整。 2 海南亚太实业发展股份有限公司 2018 年第三季度报告正文 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末 | | --- | --- | --- | --- | --- | | | | | | 增减 | | 总资产（元） | 219,828,737.73 | | 252,987,702.89 ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥14,125,862.86, representing a decrease of 2.95% compared to the same period last year[17]. - The net loss attributable to shareholders was ¥2,197,15, a 44.92% improvement from the previous year's loss of ¥3,989,061.15[17]. - The net cash flow from operating activities was negative at ¥7,978,614.76, a decline of 184.26% compared to the previous year[17]. - The total assets at the end of the reporting period were ¥226,200,923.98, down 10.59% from the end of the previous year[17]. - The net assets attributable to shareholders decreased by 2.95% to ¥72,215,135.01 compared to the previous year[17]. - The company reported a net loss of ¥-418,876,276.72, compared to a loss of ¥-416,679,121.72 in the previous period, indicating a slight increase in losses[114]. - The net loss for the first half of 2018 was CNY 2,164,549.41, an improvement from a net loss of CNY 4,271,096.83 in the previous year[122]. - The comprehensive income for the current period decreased by 2,197.1 million yuan, reflecting a significant decline in overall profitability[141]. - The total comprehensive income for the current period decreased by 2,153.23 million, representing a decline of 34.57% compared to the previous period[145]. Assets and Liabilities - The total assets amounted to CNY 22,620,090.00, with shareholders' equity at CNY 7,221,510.00[29]. - The company's total liabilities decreased from CNY 68,169,413.25 to CNY 61,156,090.15, reflecting a reduction of approximately 10.5%[118]. - The total equity of the company was CNY 50,245,245.07, down from CNY 52,398,479.64, indicating a decline of about 4.1%[118]. - The total liabilities decreased from ¥165,005,094.97 to ¥140,382,865.47, a reduction of about 15%[114]. - The company's total equity decreased from ¥87,982,607.92 to ¥85,818,058.51, a decline of approximately 2.5%[114]. - The total equity attributable to the parent company at the end of the period was 87,982 million yuan, showing a decrease of 2,164.5 million yuan compared to the previous period[137]. - The total minority interests in equity were reported at 607.92 million yuan, indicating a stable relationship with minority shareholders[140]. Cash Flow - The company's cash and cash equivalents decreased from ¥26,244,693.74 at the beginning of the period to ¥11,661,296.62 at the end, representing a decline of approximately 55.6%[111]. - The net cash flow from operating activities was -7,978,614.76, compared to 9,469,586.02 in the previous period, indicating a significant decline[130]. - The total cash and cash equivalents at the end of the period were 3,708,805.60, down from 28,270,260.70 in the previous period[131]. - The company experienced a net decrease in cash and cash equivalents of -21,253,596.58 during the reporting period[131]. - Cash flow from financing activities resulted in a net outflow of 13,364,981.82, compared to -1,656,178.25 previously, reflecting increased financial obligations[131]. Business Operations - The main business focus remains on real estate development and sales, specifically in the Yongdeng County area of Lanzhou[25]. - The company has not reported any new projects or significant market expansions during the reporting period[25]. - The company acknowledges the impact of real estate policies and market conditions on its performance[25]. - The company plans to continue its real estate development in the "Yatai Rose Garden" project, with the first phase nearly completed but facing challenges in selling remaining commercial properties[50]. - The company has a land reserve of 27,253.5 square meters for future development, with a planned total construction area of 100,838 square meters[29]. - The company plans to start new construction projects in District D, currently in the preparation stage[30]. Financial Risks and Management - The company faces significant financial risks, with 41.44 million yuan in debts under execution and 25 million yuan in bank loans maturing by the end of 2018, while cash and cash equivalents stand at only 3,708,805.60 yuan[49]. - The company aims to enhance management levels and expand financing channels to address funding issues[31]. - The company is actively managing its financial obligations and exploring solutions to alleviate cash flow pressures[64]. - The board acknowledges significant uncertainty regarding the company's ability to continue as a going concern due to financial pressures, including a debt of CNY 48.44 million and a bank loan of CNY 30 million maturing at the end of 2018[64]. - The company is focusing on enhancing its management capabilities and exploring diverse financing options to mitigate financial risks[51]. - The company acknowledges the need for strategic adjustments in response to tightening financing conditions and market competition[51]. Shareholder Information - The total number of shares is 323,270,000, with 10.14% being limited shares (32,783,700) and 89.86% being unrestricted shares (290,486,300)[93]. - The top shareholder, Beijing Dashi Investment Co., Ltd., holds 9.97% of the shares, totaling 32,220,200, which are currently frozen[95]. - The second-largest shareholder, Lanzhou Yatai Industrial Group Co., Ltd., holds 9.95% of the shares, totaling 32,177,295, with 3,550,600 shares having been reduced during the reporting period[95]. - The third-largest shareholder, Lanzhou Taihua Investment Holdings Co., Ltd., holds 6.81% of the shares, totaling 22,000,000, with 13,070,000 shares pledged[95]. - The total number of shareholders at the end of the reporting period is 15,894[95]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[98]. Legal and Compliance Issues - The company is involved in significant litigation, with a total amount in dispute of CNY 13.42 million related to a loan contract[67]. - The company has ongoing litigation with China Agricultural Bank involving a claim of CNY 28.00 million, which has been frozen by the court[67]. - The company has taken measures to address the issues raised in the audit report to ensure sustainable development and protect investor interests[64]. - The company's semi-annual report has not been audited[63]. - The financial report for the first half of 2018 was not audited, which may affect the reliability of the financial data presented[109]. Related Party Transactions - The company engaged in related party transactions, including property management fees at 3 yuan per square meter, totaling 2.11 million yuan for the reporting period[71]. - The total expected amount for related party transactions for the year is 15 million yuan, with actual transactions during the reporting period amounting to 11.6 million yuan[72]. - The company has no significant related party transactions reported during the period[76]. Accounting Policies - The company has maintained its accounting policies in accordance with the relevant financial reporting standards, ensuring the accuracy of its financial statements[151]. - The financial statements reflect the company's financial position, operating results, and cash flows accurately, adhering to the enterprise accounting standards[154]. - The company’s fiscal year runs from January 1 to December 31, with a 12-month operating cycle used for liquidity classification[155][156].

Financial Performance - The company reported a significant decline in profitability due to increased competition and regulatory pressures in the real estate market, particularly in first and second-tier cities[4]. - The company’s financial data for 2017 is subject to restatement due to accounting errors from previous years[17]. - The company reported a net profit attributable to shareholders of CNY -8,600,632.5, representing a significant decline of 738.84% year-on-year[18]. - The company's operating revenue for 2017 was CNY 46,147,810.9, a decrease of 0.21% compared to the previous year[18]. - The company reported a basic earnings per share of CNY -0.03, a drop of 850.00% compared to the previous year[18]. - The company achieved operating revenue of 46.15 million yuan in 2017, with a net profit attributable to shareholders of -8.60 million yuan[34]. - The company’s gross profit margin for the real estate sector was 8.38%, with operating costs amounting to 42.28 million yuan[38]. - Operating cash inflow decreased by 36.57% to ¥38,046,181.84 compared to the previous year, primarily due to most residential project payments being received in 2016[50]. - Operating cash outflow decreased by 53.98% to ¥23,279,028.43, mainly due to significant debt repayment and project payment amounts in the previous year[51]. - The company reported a total revenue of CNY 46,147,810.94 for the year 2017, primarily from the sale of real estate by its subsidiary, Lanzhou Tongchuang Jiaye Real Estate Development Co., Ltd.[188]. Strategic Adjustments - The company plans to adjust its strategy in response to the intensified competition and regulatory environment in the real estate sector over the next 3-5 years[4]. - The company has adopted a cautious approach to land acquisition and shifted towards developing essential housing projects due to rising financing costs and declining industry margins[26]. - The company plans to focus on the three- and four-tier city markets while controlling project costs and improving internal management[64]. - The company aims to stabilize its project profit margins as market conditions improve following regulatory adjustments[26]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[146]. Financial Risks and Liabilities - The company faces financial risks due to its capital-intensive nature and reliance on cash flow, which is affected by national financial and tax policies[4]. - The company has a bank loan balance of 30 million yuan with an annual interest rate of 9.36%[38]. - The company reported a total of 78,261,408.00 CNY in expenses related to the "Asia Pacific Rose Garden" project, with 16,910,750.00 CNY from West Property and 61,350,658.00 CNY from Asia Pacific Real Estate[92]. - The company has identified major uncertainties regarding its ability to continue as a going concern due to slow sales in the local commercial property market and ongoing financial pressures[186]. - As of December 31, 2017, the company had outstanding debts amounting to CNY 48,441,100, with CNY 30,000,000 of bank loans due by the end of 2018, indicating significant liquidity pressure[186]. Shareholder and Equity Information - The company has not declared any cash dividends or stock bonuses for the year[6]. - The total number of shares is 323,270,000, with 10.14% being limited shares and 89.96% being unrestricted shares[126]. - The number of shareholders increased from 14,237 to 14,408 during the reporting period[128]. - The largest shareholder, Lanzhou Asia-Pacific Industrial Group Co., Ltd., has maintained its position without any changes during the reporting period[131]. - The company has not issued any new shares or conducted any share buybacks during the reporting period[126]. Management and Governance - The company experienced management changes, including the dismissal of the general manager and financial director in June 2017 due to personal reasons[140]. - The company appointed a new chairman on October 20, 2017, following the seventh board meeting[142]. - The company has a governance structure that complies with the requirements of the Corporate Governance Code[159]. - The independent directors agree with the audit report and will continue to monitor the board's actions to resolve the emphasized matters[90]. - The company has not implemented an equity incentive plan as of the report date[173]. Audit and Compliance - The independent auditor, Lianda CPA, issued an unqualified audit report with emphasis on matters for the fiscal year 2017, reflecting the company's financial status and potential risks[88]. - The audit report issued by Lianda Accounting Firm confirmed that the financial statements fairly reflect the company's financial position and operating results in all material respects[184]. - The audit committee confirmed that the financial report for 2017 was prepared in accordance with relevant laws and regulations, with no significant misstatements or omissions found[171]. - The internal control evaluation report indicated no major defects in internal controls during the reporting period[176]. Operational Challenges - The company has acknowledged the operational risks associated with large-scale real estate projects, which are sensitive to economic conditions and government policies[5]. - The tightening of housing policies and financial controls may impact purchasing intentions and customer purchasing power[66]. - The real estate market faces risks from inventory pressure, particularly in three- and four-tier cities, which may lead to unsold properties[65]. - The company has not disclosed any plans for new product development or market expansion in the reporting period[70]. Asset Management - The company has recognized an impairment provision of 70 million yuan, with an estimated recoverable amount of 30 million yuan from related assets[75]. - The company holds intangible assets in Inner Mongolia with a carrying value of 12,780,401.68 yuan, which is expected to be recoverable if disposed of[76]. - The company has not completed the disposal of land in Tongliao, Inner Mongolia, which may affect its financial position[81]. - The company has actively pursued the resolution of outstanding issues related to fund occupation and asset transfer[87]. Investor Relations - A total of 27 communication activities were conducted with individual investors during the reporting period[68]. - The company has not disclosed any significant undisclosed information during the communication activities[68]. - The company has not made any cash dividend distributions in the past three years, maintaining a 0.00% payout ratio[72].

Financial Performance - The company's operating revenue for Q1 2018 was ¥7,773,986.91, compared to ¥0.00 in the same period last year[8] - The net profit attributable to shareholders was -¥1,371,944.24, an improvement of 25.74% from -¥1,847,371.54 in the previous year[8] - The net cash flow from operating activities was -¥1,038,793.06, a decrease of 110.32% compared to ¥10,064,308.56 in the same period last year[8] - The basic earnings per share were -¥0.0042, which is a 31.15% improvement from -¥0.0061 in the previous year[8] - Total assets at the end of the reporting period were ¥244,448,977.58, down 3.38% from ¥252,987,702.89 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 1.84% to ¥73,040,345.77 from ¥74,412,290.01 at the end of the previous year[8] Shareholder Information - The controlling shareholder, Lanzhou Asia-Pacific Industrial Group, increased its shareholding by 1,722,000 shares, raising its stake from 8.86% to 9.39%[15] - The total number of ordinary shareholders at the end of the reporting period was 14,237[10] - The top ten shareholders held a combined 49.99% of the company's shares, with Beijing Dashi Investment holding 9.97%[10] Asset Recovery and Legal Actions - The company plans to assist in recovering 30 million yuan related to the investment in Inner Mongolia Tongliao City, with ongoing efforts to pursue asset recovery[18] - The company has committed to compensating for any shortfall in asset recovery, specifically 12,780,401.68 yuan, if the asset disposal does not meet this amount[19] - The company has set a deadline of October 15, 2021, for fulfilling commitments related to "Blue Scenic Home" and "Tongliao Land"[21] - The company intends to increase its stake in Lanzhou Asia-Pacific Industrial Development Co., Ltd. by using its own funds not exceeding 150 million yuan, with a minimum of 15 million yuan planned for this increase[22] - The company has indicated that the share purchase price will not exceed 9 yuan per share during the acquisition period from February 7, 2018, to August 6, 2018[22] - The company is actively pursuing legal action to recover its rights related to the investment in Blue Scenic Home, which has a book value of 30 million yuan[17] - The company has reported a provision for impairment of 70 million yuan related to the investment in Blue Scenic Home, which is currently under legal proceedings[17] - The company has acknowledged that it cannot provide any economic benefits from the original investment in Hainan United Oil Technology Development Co., Ltd.[19] - The company has committed to legal actions regarding the asset recovery from Blue View Home, aiming to mitigate negative impacts on its operations[23] Future Outlook and Commitments - The company is optimistic about its future development prospects and plans to adjust its commitments based on market conditions[22] - The company is currently in the process of fulfilling its commitments and has stated that it will provide full compensation in cash or equivalent assets if it fails to meet its obligations[21] - There are no significant changes expected in the cumulative net profit for the period from the beginning of the year to the next reporting period[24] Compliance and Communication - The company has not engaged in any securities investments during the reporting period[25] - There were multiple communications with individual investors regarding the company's main business and sustainable development plans throughout January to March 2018[26] - The company reported no violations related to external guarantees during the reporting period[27] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[28]

Financial Performance - The company reported a significant decline in real estate profit margins, necessitating strategic adjustments to cope with intensified market competition over the next 3-5 years[6]. - The company's operating revenue for 2017 was ¥46,147,810.94, a decrease of 0.21% compared to ¥46,243,032.78 in 2016[20]. - The net profit attributable to shareholders was a loss of ¥8,600,632.59, representing a decline of 738.84% from a profit of ¥1,346,282.43 in 2016[20]. - The company's basic earnings per share were -¥0.03, down 850.00% from ¥0.004 in 2016[20]. - The weighted average return on equity was -10.93%, a decrease of 12.58% compared to 3.80% in 2016[20]. - The company reported a gross margin of 8.38% for the year, with operating costs of CNY 42.28 million[39]. - The company reported a total of ¥238,394.58 in non-recurring gains and losses for 2017, compared to a loss of ¥599,853.00 in 2016[25]. - In 2017, the company achieved operating revenue of CNY 46.15 million, with a net profit attributable to shareholders of CNY -8.60 million[35]. Cash Flow and Assets - The net cash flow from operating activities increased by 57.24% to ¥14,767,153.41 from ¥9,391,233.27 in 2016[20]. - The total assets at the end of 2017 were ¥252,987,702.89, a decrease of 25.94% from ¥341,579,311.25 in 2015[20]. - Cash and cash equivalents increased by 83.32% to ¥6,385,854.33[53]. - Monetary funds at the end of 2017 were ¥26,244,693.74, which is 10.37% of total assets, up from 6.01% in 2016[56]. - Inventory at the end of 2017 was ¥183,797,582.11, representing 72.65% of total assets, an increase of 7.48% from the previous year[56]. - The company’s total assets and liabilities combined amounted to CNY 252,987,702.89, down from CNY 341,579,311.25, indicating a reduction of approximately 26%[199]. Shareholder and Capital Structure - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[7]. - The company's total share capital held by its largest shareholder, Lanzhou Yatai Industrial Group, is 54,177,295 shares, accounting for 16.76% of the total share capital[18]. - The total number of shares is 323,270,000, with 10.14% (32,783,700 shares) being restricted shares and 89.96% (290,486,300 shares) being unrestricted shares[120]. - The company has not issued any new shares or conducted any share buybacks during the reporting period[124]. - The company has not made any commitments regarding share capital increase or cash dividends in the past three years[71]. Risks and Challenges - The company faces financial risks due to its capital-intensive nature, with cash flow being critical for operational sustainability[6]. - The company has acknowledged project operation risks stemming from large investment scales and long development cycles, which are sensitive to economic conditions and government policies[6]. - The company faces risks related to market price fluctuations and tightening housing policies, which may impact purchasing power and demand[66]. - The company reported a significant increase in financial expenses due to capitalized borrowing costs, with a rise of 31,289.24% to ¥3,016,960.52[52]. Governance and Compliance - The company has received an unqualified audit report from Lianda Accounting Firm, emphasizing the accuracy of its financial statements[6]. - The independent directors expressed no objections to the audit report issued by Lianda CPA, which reflects the company's financial status and operating conditions for the year 2017[88]. - The audit committee confirmed that the financial report for 2017 was prepared in accordance with relevant laws and regulations, with no significant misstatements or omissions found[167]. - The company has implemented changes in accounting policies and estimates, which have been disclosed in the annual report[90]. - The company has made significant improvements in its internal control system to comply with regulatory requirements, ensuring independence from its controlling shareholder in operations and finances[153]. Strategic Focus and Future Plans - The company is focusing on the real estate development business, with a primary project being the Yongdeng Rose Garden, which is expected to stabilize profit margins as market conditions improve[27]. - The company plans to achieve a sales revenue of CNY 80 million in 2018, with expected cash inflows of CNY 55 million[40]. - The company plans to focus on inventory reduction and cost control while exploring quality pharmaceutical and biotechnology asset projects for future business transformation[66]. - The company has actively engaged in project research focused on high-quality assets in the pharmaceutical industry for future business transformation[36]. Employee and Management Structure - The total number of employees in the company is 35, with 15 in the parent company and 20 in major subsidiaries[147]. - The total remuneration for directors and senior management during the reporting period amounts to RMB 654,800[146]. - The independent directors receive an annual allowance of RMB 30,000 each[143]. - The company emphasizes a performance-based compensation system, which includes a fixed component (base salary) and a variable component (performance bonuses and benefits) to attract and retain talent[149]. Related Party Transactions - The company reported a total of 18.83 million yuan in related party transactions, with a significant portion (96.44%) related to utility fees at a fair price of 1 yuan per kilowatt-hour[101]. - The company engaged in an asset acquisition transaction with a related party, where the asset's book value was 2,898.34 million yuan, and the transfer price was 2,859.98 million yuan, indicating no significant impact on financial results[102]. - There were no significant related party transactions involving joint external investments during the reporting period[103].

海南亚太实业发展股份有限公司 2017 年第三季度报告正文 1 海南亚太实业发展股份有限公司 2017 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人安双荣、主管会计工作负责人杨伟元及会计机构负责人(会计主 管人员)杨伟元声明：保证季度报告中财务报表的真实、准确、完整。 海南亚太实业发展股份有限公司 2017 年第三季度报告正文 证券代码：000691 证券简称：ST 亚太 公告编号：2017-069 2 海南亚太实业发展股份有限公司 2017 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 258,174,582.95 | | 341,579,311.25 | -24.42% ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥14,555,362.87, representing a 42.67% increase compared to ¥10,202,356.81 in the same period last year[22]. - The net profit attributable to shareholders was -¥3,989,061.15, showing a decline from -¥1,678,323.03 in the previous year[22]. - The net cash flow from operating activities was ¥9,469,586.02, a significant improvement from -¥3,688,681.93 in the same period last year[22]. - Operating costs rose to CNY 12,969,608.90, a 70.76% increase, attributed to higher sales volume[41]. - The gross profit margin for real estate sales decreased by 14.66% to 10.89% compared to the previous year[43]. - The company reported a net loss of ¥412,067,550.28, compared to a loss of ¥408,078,489.13 in the previous period[119]. - The company reported a significant increase in management expenses, which rose to CNY 3,213,231.79 from CNY 1,897,838.41, an increase of approximately 69.5%[126]. - The company incurred an operating loss of CNY -4,271,096.83, compared to a loss of CNY -1,046,077.55 in the previous year, reflecting a deterioration of approximately 4.1 times[126]. Assets and Liabilities - Total assets at the end of the reporting period were ¥288,287,244.48, a decrease of 15.60% from ¥341,579,311.25 at the end of the previous year[22]. - The net assets attributable to shareholders decreased by 4.81% to ¥79,023,861.45 from ¥83,012,922.60 at the end of the previous year[22]. - Cash and cash equivalents at the end of the reporting period amounted to ¥28,270,260.70, representing 9.81% of total assets, up from 4.01% in the previous year[46]. - Inventory decreased by 4.78% to ¥210,353,861.45, accounting for 72.97% of total assets[46]. - Long-term borrowings decreased by 3.39% to ¥30,000,000.00, representing 10.41% of total assets[46]. - Total liabilities decreased from ¥244,633,338.91 to ¥195,612,368.97, a decline of approximately 20%[118]. - The company's total equity decreased from ¥96,945,972.34 to ¥92,674,875.51, a reduction of about 4.3%[119]. Cash Flow Management - The net cash flow from operating activities increased to ¥9,469,586.02, compared to a negative cash flow of ¥3,688,681.93 in the previous period, representing a significant turnaround[134]. - Total cash inflow from operating activities was ¥26,786,735.09, while cash outflow was ¥17,317,149.07, resulting in a net cash flow of ¥9,469,586.02[134]. - The cash flow from operating activities was bolstered by a decrease in payments for goods and services, which fell from ¥17,749,469.52 to ¥4,793,867.41[134]. - The company’s cash flow management strategies have led to a net increase in cash and cash equivalents of ¥7,751,599.77 during the reporting period[135]. - Cash received from operating activities was CNY 133,600.56, a notable recovery from a cash outflow of CNY -8,371,109.88 in the previous period[133]. Strategic Outlook - The company faces increased competition in the real estate market, particularly in first and second-tier cities, which may impact its operational strategies[6]. - The company is exposed to financial risks due to its capital-intensive nature and reliance on cash flow for operations[7]. - The company has acknowledged the need to adjust its strategies in response to macroeconomic controls and market competition over the next 3-5 years[6]. - The company has actively engaged in project research focusing on quality asset projects in the internet and pharmaceutical industries for future business transformation[38]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 16,555[100]. - The proportion of limited sale condition shares is 10.14%, totaling 32,783,700 shares[98]. - The proportion of unrestricted sale condition shares is 89.86%, totaling 290,486,300 shares[98]. - The largest shareholder, Beijing Dashi Investment Co., Ltd., holds 32,220,200 shares, accounting for 9.97%[100]. - The second largest shareholder, Lanzhou Yatai Industry and Trade Group Co., Ltd., holds 28,626,695 shares, accounting for 8.86%[100]. Legal and Compliance Issues - A significant lawsuit involves the Tianjin branch of Bank of Communications, with a claim amounting to 13,422,689.10 CNY, where the company is required to bear joint liability[71]. - The company is involved in litigation regarding a loan guarantee, with a related amount of 28,000,000 CNY frozen by the Tianjin Intermediate People's Court[72]. - The company has faced multiple lawsuits related to securities false statements, with the first instance ruling against the plaintiffs[73]. - The company has not yet completed the disposal of land assets in Inner Mongolia, which has been under review for an extended period[68]. Audit and Financial Reporting - The company's half-year financial report has not been audited, indicating potential risks in financial reporting[67]. - The company is addressing non-standard audit opinions from the previous year, specifically regarding adjustments related to land costs totaling CNY 78,268,688.00[68]. - The financial report for the first half of 2017 was not audited, indicating a potential area of concern for investors[114]. Corporate Governance - The company appointed new directors and independent directors on April 21, 2017, following the resignation of previous members[109]. - The company has not experienced any changes in its controlling shareholder during the reporting period[102]. - There were no significant related party transactions during the reporting period, including asset or equity acquisitions[76][77][78][79][81]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[155]. - The financial statements are prepared based on the assumption of going concern, indicating no significant doubts about the company's ability to continue operations[152]. - The company recognizes its share of assets and liabilities in joint operations according to relevant accounting standards[169].