Financial Performance - The company's operating revenue for Q1 2022 was ¥209,602,271.29, a decrease of 9.17% compared to ¥230,761,309.28 in the same period last year[3] - Net profit attributable to shareholders was ¥19,407,731.05, down 17.85% from ¥23,625,967.74 year-on-year[3] - The net profit excluding non-recurring gains and losses increased by 12.43% to ¥19,040,237.45 from ¥16,935,500.66 in the previous year[3] - The company reported a net profit margin improvement due to reduced operating costs, although specific profit figures were not disclosed[19] - The net profit for Q1 2022 was CNY 19,418,824.07, a decrease of 17.5% compared to CNY 23,606,629.11 in Q1 2021[20] - Operating profit for Q1 2022 was CNY 25,598,069.96, down 16.8% from CNY 30,656,586.90 in the same period last year[20] - The total comprehensive income for Q1 2022 was CNY 19,418,824.07, compared to CNY 23,606,629.11 in Q1 2021[21] - The company reported a basic and diluted earnings per share of CNY 0.05, down from CNY 0.06 in the previous year[21] Cash Flow and Assets - The net cash flow from operating activities was negative at -¥35,195,878.37, a decline of 153.09% compared to ¥66,291,815.18 in the same period last year[3] - Cash and cash equivalents at the end of Q1 2022 amounted to CNY 1.12 billion, slightly down from CNY 1.14 billion at the beginning of the year[15] - Cash and cash equivalents at the end of Q1 2022 were CNY 1,119,799,271.44, an increase from CNY 599,800,315.27 at the end of Q1 2021[23] - The cash flow from operating activities was negative at CNY -35,195,878.37, compared to a positive CNY 66,291,815.18 in the previous year[23] - Investment activities generated a net cash inflow of CNY 19,622,840.75, recovering from a significant outflow of CNY -600,238,891.60 in Q1 2021[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,418,757,210.22, a decrease of 1.02% from ¥2,443,708,408.82 at the end of the previous year[3] - Total assets as of March 31, 2022, were CNY 2.42 billion, a decrease from CNY 2.44 billion at the beginning of the year[17] - Total liabilities decreased to CNY 740.70 million from CNY 785.07 million at the beginning of the year, reflecting a reduction in short-term borrowings and accounts payable[17] - Non-current assets totaled CNY 1.07 billion, slightly down from CNY 1.07 billion at the beginning of the year[16] Operational Changes - The company established a wholly-owned subsidiary with an investment of CNY 5 million to accelerate business expansion and innovation[12] - The company completed the deregistration of a wholly-owned subsidiary to enhance operational efficiency[12] Other Financial Metrics - The weighted average return on equity was 1.16%, down from 1.52% in the same period last year, a decrease of 0.36%[3] - The balance of trading financial assets decreased by 93.00% to ¥10,517,476.92 due to partial recovery of asset management plans[7] - Accounts receivable increased by 84.78% to ¥1,240,402.37, indicating a rise in receivables during the period[7] - Other current assets surged by 5491.99% to ¥139,648,855.37, primarily due to the purchase of treasury reverse repurchase products[7] - The company incurred financial expenses of CNY -6,707,682.80, a significant increase from CNY -618,089.99 in the previous year[20] Future Outlook - The company plans to continue exploring new business models and market expansion strategies in the upcoming quarters[12] - The company has not undergone an audit for the Q1 2022 report[24]

Financial Performance - The company's operating revenue for 2021 was ¥867,994,832.46, representing a 1.11% increase compared to ¥858,484,490.46 in 2020[19] - The net profit attributable to shareholders for 2021 was ¥135,904,851.92, a significant increase of 40.09% from ¥97,015,172.20 in 2020[19] - The net profit after deducting non-recurring gains and losses was ¥116,067,025.71, up 31.68% from ¥88,145,972.38 in the previous year[19] - The basic earnings per share for 2021 was ¥0.33, an increase of 43.48% compared to ¥0.23 in 2020[19] - The total assets at the end of 2021 were ¥2,443,708,408.82, reflecting a 5.31% increase from ¥2,320,556,347.39 at the end of 2020[19] - The net assets attributable to shareholders increased by 7.46% to ¥1,657,701,788.75 at the end of 2021 from ¥1,542,582,883.83 at the end of 2020[19] - The net cash flow from operating activities was ¥158,764,771.83, which is a 9.39% increase from ¥145,138,094.30 in 2020[19] - The weighted average return on equity for 2021 was 8.48%, up from 6.41% in 2020, indicating improved profitability[19] Revenue Breakdown - Retail revenue for 2021 reached ¥763,851,632.79, accounting for 88.00% of total revenue, with a slight increase of 0.29% compared to 2020[47] - Service fee revenue increased by 7.55% year-on-year to ¥104,143,199.67, representing 12.00% of total revenue[47] - Online sales amounted to ¥19,920,700, generating revenue of ¥5,338,800 during the reporting period[4] Operational Changes - During the reporting period, the company opened one new store and closed four stores, which did not have a significant impact on overall performance[32] - The company operates primarily in retail, with a focus on department stores, supermarkets, and convenience stores, covering key urban areas in Shenyang and surrounding cities[30] - The company emphasized a customer-centric approach and improved operational quality to strengthen its regional market position amidst challenging conditions[29] Investment and Cash Flow - Investment cash outflow surged by 6,498.58% to ¥753,643,722.44, primarily due to increased investments in financial products and asset management plans[61] - The company reported a net decrease in cash and cash equivalents of ¥1,624,917.37, a significant drop of 99.76% compared to the previous year[61] - The company has expanded its investment activities, including a significant investment of ¥150 million in a single asset management plan[54] Governance and Management - The company maintains an independent governance structure, ensuring separation from its controlling shareholder in terms of assets, personnel, and financial operations[90] - The company has established effective performance evaluation and incentive mechanisms to ensure compliance with relevant laws and regulations[91] - The company has committed to timely and accurate information disclosure to ensure investors receive fair access to information[91] - The company experienced significant management changes in 2021, with multiple resignations and appointments, including the resignation of the president and CFO due to personal reasons[99] Shareholder Engagement - The company has a shareholder meeting participation rate of 64.75% for the 2020 annual general meeting held on June 9, 2021[96] - The first temporary shareholder meeting in 2021 had a participation rate of 46.09% and was held on December 28, 2021[96] - The company has committed to a three-year shareholder dividend return plan for 2020-2022, ensuring compliance with regulations and protecting shareholder rights[123] Risk Management - The company faces risks from macroeconomic fluctuations, intensified market competition, and changing consumer trends, which may impact demand growth[85] - To mitigate risks, the company will enhance management efficiency, innovate marketing strategies, and deepen cooperation with suppliers[86] Social Responsibility - The company actively engaged in social responsibility initiatives, including disaster relief efforts and support for vulnerable groups, while ensuring stable returns for investors[140] - The company is committed to rural revitalization efforts, assisting local enterprises in improving production environments and creating stable employment opportunities[141] Environmental Initiatives - The company has implemented energy-saving measures and upgraded equipment to enhance energy efficiency and reduce carbon emissions[139] - The company has no significant environmental issues and has not faced administrative penalties related to environmental concerns during the reporting period[139] Accounting and Financial Reporting - The company adopted the new leasing standard effective January 1, 2021, which requires lessees to recognize right-of-use assets and lease liabilities for all leases, except for short-term leases and low-value asset leases[153] - The company did not report any significant accounting errors or changes in accounting policies compared to the previous year[151] - The company maintained effective internal control over financial reporting as of December 31, 2021, with no significant deficiencies identified[134] Future Outlook - The company anticipates continued consumer upgrade trends, with high-end brand sales showing significant growth[81] - The company plans to distribute a cash dividend of ¥0.50 per 10 shares to all shareholders based on the total share capital of 415,718,940 shares as of the end of 2021[5] - The company aims to enhance operational efficiency and customer experience by optimizing brand structure and innovating marketing strategies[83]

中兴—沈阳商业大厦（集团）股份有限公司 2021 年第三季度报告 证券代码：000715 证券简称：中兴商业 公告编号：ZXSY2021-42 中兴—沈阳商业大厦（集团）股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 (二)非经常性损益项目和金额 √ 适用 □ 不适用 1 中兴—沈阳商业大厦（集团）股份有限公司 2021 年第三季度报告 单位：元 | 项目 | 本报告期金额 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备 | | 85,789.42 | | | 的冲销部分） | | | | | 计入当期损益的政 ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥448.61 million, representing an increase of 11.34% compared to ¥402.93 million in the same period last year[20]. - The net profit attributable to shareholders was approximately ¥55.13 million, a significant increase of 609.52% from a loss of ¥10.82 million in the previous year[20]. - The net cash flow from operating activities reached approximately ¥73.46 million, up 229.12% from ¥22.32 million in the same period last year[20]. - Basic and diluted earnings per share were both ¥0.13, compared to a loss of ¥0.03 per share in the previous year, marking a 533.33% improvement[20]. - Total assets at the end of the reporting period were approximately ¥2.52 billion, an increase of 8.63% from ¥2.32 billion at the end of the previous year[20]. - The net assets attributable to shareholders increased to approximately ¥1.60 billion, up 3.57% from ¥1.54 billion at the end of the previous year[20]. - The company reported a significant increase in income tax expenses, which rose by 631.03% to ¥18.42 million due to an increase in total profit[45]. - The company reported a net profit of 540 million yuan for the current period, down by 33.25 million yuan compared to the previous period[148]. Cash Flow and Investments - The company's investment activities generated a net cash flow of -¥749.98 million, a decrease of 229.98% compared to the previous year, primarily due to an increase in trading financial assets[45]. - Cash and cash equivalents decreased by 30.70% to ¥457,666,370.10, representing 18.16% of total assets, due to investments in financial products[52]. - The net cash flow from investment activities was -¥749,977,528.37, a decrease from ¥576,986,303.23 in the first half of 2020, indicating a decline of around 230%[139]. - The cash flow from investment activities for the parent company was -¥750,280,665.78, a decrease from ¥578,685,164.14 in the first half of 2020, indicating a decline of around 230%[143]. Market and Operational Strategy - The company focused on enhancing customer service quality through the "Integrity Revival and Satisfactory Service" initiative[31]. - The company implemented a multi-channel marketing strategy, including PR events and online promotions, to drive sales[32]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[126]. - The company aims to enhance operational efficiency through strategic mergers and acquisitions in the near future[146]. Risks and Challenges - The company has outlined potential risks in its future plans, which investors should be aware of[5]. - The company faces macroeconomic risks that could impact consumer confidence and spending, necessitating ongoing innovation and efficiency improvements[65]. - Increased market competition is anticipated, prompting the company to enhance customer service and upgrade its brand offerings[66]. Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period is 12,380[110]. - The largest shareholder, Liaoning Fangda Group, holds 38.34% of the shares, totaling 159,366,925 shares[110]. - The total number of shares is 415,718,940, with 99.84% being unrestricted shares[108]. - Shareholder Hangzhou Rushan Venture Capital Co., Ltd. reduced its holdings by 6,474,854 shares, accounting for 1.56% of the total share capital[102]. Subsidiaries and Legal Matters - The company has completed the bankruptcy liquidation process for its subsidiary, Fushun Zhongxing, which was declared bankrupt on May 20, 2021[82]. - The company is involved in a significant lawsuit with a claim amount of 240.82 million CNY, which has been recognized as a contingent liability[85]. - There are 10 other ongoing lawsuits with a total claim amount of 31.7361 million CNY, none of which have been recognized as contingent liabilities[86]. Accounting and Financial Reporting - The financial statements were prepared based on the accrual basis of accounting, in accordance with the accounting standards issued by the Ministry of Finance[161]. - The company has a consolidated financial statement scope that includes five subsidiaries and a single asset management plan[160]. - The company’s accounting period follows the calendar year, from January 1 to December 31[165]. - The company’s accounting currency is Renminbi (CNY)[167]. Employee and Social Responsibility - The average monthly income for employees in ongoing projects is ensured to be no less than 2,600 yuan, with a focus on stable income growth[76]. - The company actively supports rural revitalization efforts, helping local enterprises improve production environments and expand market reach[76]. - There were no significant environmental penalties or issues reported during the reporting period, and the company is committed to energy conservation and emission reduction[75].

中兴—沈阳商业大厦（集团）股份有限公司 2021 年第一季度报告全文 中兴—沈阳商业大厦（集团）股份有限公司 2021 年第一季度报告 2021 年 04 月 中兴—沈阳商业大厦（集团）股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人屈大勇、主管会计工作负责人朱会君及会计机构负责人（会计 主管人员）谭军声明：保证季度报告中财务报表的真实、准确、完整。 1 中兴—沈阳商业大厦（集团）股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 230,761,309.28 | 203,896,967.60 | 13.18% | | 归属于上市公司股东的净利润（元） ...

Financial Performance - The company's operating revenue for 2020 was ¥858,484,490.46, a decrease of 68.23% compared to ¥2,702,172,506.80 in 2019[17] - The net profit attributable to shareholders for 2020 was ¥97,015,172.20, down 37.13% from ¥154,319,737.05 in 2019[17] - The basic earnings per share for 2020 was ¥0.2334, reflecting a decline of 37.12% from ¥0.3712 in 2019[17] - The net cash flow from operating activities for 2020 was ¥145,138,094.30, a decrease of 6.97% from ¥156,014,294.51 in 2019[17] - The weighted average return on equity for 2020 was 6.41%, down from 10.91% in 2019, a decrease of 4.50%[17] - The company reported a significant increase in investment income from entrusted asset management, amounting to 4.26 billion yuan in 2020[22] - The company reported a significant decline in physical sales revenue of 70.65%, primarily due to the implementation of new revenue recognition standards and the impact of the pandemic[54] - The company reported a net profit for the reporting period, with a profit available for distribution to ordinary shareholders amounting to CNY 63,891,532.40[93] Assets and Liabilities - The total assets at the end of 2020 were ¥2,320,556,347.39, an increase of 1.20% from ¥2,293,137,964.85 at the end of 2019[17] - The net assets attributable to shareholders at the end of 2020 were ¥1,542,582,883.83, up 4.31% from ¥1,478,825,226.83 at the end of 2019[17] - The company's total assets at the end of the reporting period amounted to 2.32 billion yuan, while the net assets attributable to shareholders were 1.54 billion yuan[37] - The total current assets remained stable at CNY 1,128,934,200.25 as of December 31, 2019, with no adjustments made to cash and cash equivalents[105] - The company reported a total liability of CNY 814,312,738.02, with non-current liabilities at CNY 168,452,141.30[106] Cash Flow and Investments - Operating cash inflow decreased by 9.52% to ¥2.81 billion in 2020 from ¥3.11 billion in 2019[64] - Investment cash inflow increased significantly by 273.73% to ¥579.99 million in 2020 from ¥155.19 million in 2019[64] - Net cash flow from investment activities turned positive at ¥568.57 million in 2020 compared to a negative ¥465.93 million in 2019[64] - The company reported a significant decrease in investment activities, with total investment amounting to ¥0 in 2020 compared to ¥92.27 million in 2019, marking a 100% decline[71] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.50 per 10 shares to all shareholders based on the total share capital of 415,718,940 shares as of the end of 2020[5] - The cash dividend for 2020 is proposed at 0.50 yuan per 10 shares, totaling approximately 20.79 million yuan[90] - The cash dividend payout ratio for 2020 is 21.43% of the net profit attributable to shareholders[92] - A cash dividend of CNY 0.50 per 10 shares (including tax) was proposed, totaling CNY 20,785,947.00, which represents 100% of the profit distribution[93] Operational Strategies - The company has expanded its online sales through the "中兴大厦+" mini-program to mitigate the impact of the pandemic[27] - The company maintained a stable operating model, primarily through joint ventures, self-operated stores, and property leasing[26] - The company plans to adapt to changing retail trends by integrating online and offline sales channels and leveraging big data for consumer insights[79] - Future retail strategies will focus on supply chain differentiation and optimizing the business model to enhance profitability[80] Market and Competitive Position - The company has strengthened strategic partnerships with key brand groups, enhancing brand power and market competitiveness[38] - The company aims to strengthen brand positioning and enhance product offerings to attract fashion-conscious consumers[83] - The company acknowledges risks related to economic fluctuations and market competition, particularly in the post-pandemic environment[85] Corporate Governance and Compliance - The company has committed to maintaining the independence of its financial and operational management systems[95] - The actual controller and shareholders have fulfilled their commitments regarding the independence of the company and avoidance of substantial competition[94] - The company has established a commitment to maintain independent tax practices[97] - The company has made significant improvements in corporate governance, aligning with the requirements set by the China Securities Regulatory Commission[191] Social Responsibility and Community Engagement - The company donated over 40 million in cash and materials to pandemic prevention efforts in Liaoning Province[136] - The company actively supported charitable initiatives and social responsibility during the COVID-19 pandemic[135] - The company has invested a total of CNY 6.635 million in six poverty alleviation projects, helping 170 registered poor individuals to escape poverty[140] Employee Management and Development - The total number of employees in the company is 4,321[176] - The company aims to enhance employee skills and service levels through targeted training programs[186] - The company has revised its remuneration management system to align with market levels and performance-based incentives[185] Legal and Regulatory Matters - The company has not faced any penalties or rectification issues during the reporting period[120] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[100] - The company has committed to resolving potential competition issues with its controlling shareholder by integrating relevant assets and businesses by April 10, 2025[194]

Financial Performance - Operating revenue decreased by 65.36% to CNY 224,515,913.23 for the current period, and by 68.98% to CNY 627,442,166.49 year-to-date[8] - Net profit attributable to shareholders decreased by 1.47% to CNY 29,211,622.64 for the current period, and by 84.42% to CNY 18,390,705.46 year-to-date[8] - Basic earnings per share decreased by 1.40% to CNY 0.0703 for the current period, and by 84.43% to CNY 0.0442 year-to-date[8] - Total operating revenue for the current period is ¥224,515,913.23, a decrease of 65.3% compared to ¥648,175,803.89 in the previous period[42] - Total operating revenue for the consolidated entity is ¥627,442,166.49, a decrease of 69.0% from ¥2,022,646,356.05 in the previous period[50] - Total profit from the beginning of the year to the end of the reporting period is ¥24,725,221.89, a decrease of 84.18% compared to the same period last year[17] - Net profit for Q3 2020 was CNY 18.34 million, down 84.5% from CNY 118.00 million in Q3 2019[52] - Total profit for Q3 2020 was CNY 24.73 million, a significant drop of 84.2% from CNY 156.27 million in Q3 2019[52] Cash Flow - Net cash flow from operating activities increased by 159.55% to CNY 133,184,988.61 for the current period, but decreased by 14.41% year-to-date[8] - The net cash flow from operating activities for Q3 2020 was CNY 155.50 million, a decrease of 14.4% compared to CNY 181.69 million in Q3 2019[57] - The company achieved a cash inflow from operating activities totaling CNY 1.99 billion, compared to CNY 2.32 billion in the same period last year[57] - The total cash inflow from operating activities was ¥1,989,686,761.73, down 13.9% from ¥2,314,188,956.20 year-over-year[61] - The company reported a net increase in cash and cash equivalents of ¥698,895,149.89 for the quarter, compared to ¥118,551,931.82 in the same period last year, representing a 487.5% increase[62] Assets and Liabilities - Total assets increased by 2.38% to CNY 2,347,659,969.57 compared to the end of the previous year[8] - The total assets of the company reached ¥2,347,659,969.57, up from ¥2,293,137,964.85, indicating an increase of approximately 2.4%[36] - Total liabilities increased to ¥883,213,393.76 from ¥814,312,738.02, reflecting a growth of about 8.4%[35] - The total current assets were CNY 1,109,186,392.85, with cash and cash equivalents at CNY 438,746,707.30[69] - The balance of contract liabilities at the end of the period is ¥88,081,719.08, with a beginning balance of 0.00, mainly due to the implementation of new revenue standards[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,660[11] - The largest shareholder, Liaoning Fangda Group, holds 38.34% of the shares, totaling 159,366,925 shares[11] - The company did not engage in any repurchase transactions during the reporting period[12] Other Financial Metrics - The weighted average return on equity was 2.02%, a decrease of 0.06% compared to the previous period[8] - The company reported non-recurring losses totaling CNY 21,077,656.50 for the year-to-date period[9] - The company reported a slight increase in interest income to ¥8,381,844.13 from ¥7,150,379.51 in the previous period[43] - The company has maintained a stable management expense level, with current management expenses at ¥65,868,351.95, compared to ¥66,183,166.33 in the previous period[43] Investment and Capital - Cash received from the recovery of investments is ¥570,000,000.00, an increase of 280.00% compared to the same period last year, mainly due to the maturity of financial assets[18] - The company plans to increase capital in its wholly-owned subsidiary with ¥4.4 million to support poverty alleviation efforts in Gansu Province[20] - Long-term equity investments increased to ¥14,063,200.00 from ¥9,663,200.00, representing an increase of approximately 45.0%[39]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥402,926,253.26, a decrease of 70.68% compared to ¥1,374,470,552.16 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥10,820,917.18, representing a decline of 112.25% from a profit of ¥88,356,656.29 in the previous year[17]. - The net cash flow from operating activities was ¥22,318,888.71, down 82.88% from ¥130,374,042.16 in the same period last year[17]. - The basic earnings per share were -¥0.03, a decrease of 114.29% compared to ¥0.21 in the previous year[17]. - The company reported a net increase in cash and cash equivalents of ¥566,587,676.74, a rise of 738.62% compared to the previous year[40]. - The net profit for the reporting period was -¥768.55 million, reflecting a decline of 109.21% year-on-year[39]. - The total revenue for Shenyang Zhongxing Commercial Building (Group) Co., Ltd. was approximately CNY 1.45 million, with a net profit of CNY 1.05 million[62]. - The company reported a significant loss in the subsidiary Dongxiang Autonomous County Shengdong Trading Co., Ltd., with a net loss of CNY 437,076.25[62]. - The company reported a total revenue of 941.88 million RMB for the period, with a projected total of 1,351.90 million RMB for the upcoming period[81]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,231,378,167.78, a decrease of 2.69% from ¥2,293,137,964.85 at the end of the previous year[17]. - The net assets attributable to shareholders were ¥1,434,746,794.45, down 2.98% from ¥1,478,825,226.83 at the end of the previous year[17]. - Total cash and cash equivalents at the end of the reporting period were ¥1,018,944,328.74, representing 45.66% of total assets, an increase of 7.58% from the previous year[50]. - The company's total liabilities were CNY 940,000,059.01 at the end of the reporting period[158]. - The company's total equity decreased to CNY 1,457,615,732.46 as of June 30, 2020, down from CNY 1,500,146,311.59 at the end of 2019, reflecting a decline of approximately 2.8%[133]. Operational Changes and Strategies - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company is focusing on cost reduction and efficiency improvement, implementing measures to lower various fees and enhance asset management[32]. - The company has restructured its organizational framework to optimize human resource management and improve operational efficiency[32]. - The company expanded its online sales through the "ZTE Building+" mini-program, which had a total of 863,000 visits and 12.96 million total visits, with a peak daily transaction exceeding 1 million yuan[32]. - The company conducted 10 marketing campaigns during the reporting period, which yielded positive results[32]. Market and Industry Trends - The retail industry is recovering, with a significant narrowing of the decline in retail sales, indicating a positive market trend[26]. - The company has acknowledged potential risks in its future plans and has advised investors to be cautious[5]. - The company is facing economic fluctuation risks due to the global economic downturn, which may affect consumer growth[65]. Legal and Compliance Issues - The company is involved in a significant litigation case with a claim amount of 240.82 million yuan, which is expected to have a major impact on its financial performance[74]. - The company has initiated bankruptcy proceedings for its wholly-owned subsidiary Fushun Zhongxing Times Square Commercial Co., Ltd. due to severe financial distress[73]. - The company’s subsidiary, Fushun Zhongxing, has been in litigation since March 2020, highlighting ongoing legal challenges[99]. Social Responsibility and Community Engagement - The company has actively participated in poverty alleviation efforts, investing 4.5 million RMB and helping 48 registered impoverished individuals to escape poverty[96]. - The company donated 40 million RMB to support COVID-19 pandemic prevention efforts through the Liaoning Charity Federation[98]. - The company has implemented a second poverty alleviation project in the form of a potato deep processing initiative, which has already provided employment for 65 local farmers[95]. Financial Reporting and Governance - The financial report for the first half of 2020 was not audited[124]. - The company has not conducted an audit for the half-year financial report[71]. - The company’s accounting policies include specific methods for depreciation of fixed assets and revenue recognition, tailored to its operational characteristics[168]. - The company’s financial statements are based on the principle of going concern, ensuring the continuity of its operations[167].

Financial Performance - The company's operating revenue for Q1 2020 was ¥203,896,967.60, a decrease of 71.74% compared to ¥721,513,064.37 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥22,680,696.44, representing a decline of 211.99% from a profit of ¥20,252,904.28 in the previous year[9] - The total profit for the current period was CNY -29,974,326.87, a decrease of 212.49% compared to the same period last year, driven by changes in various profit statement items[20] - The company's operating revenue for the current period was CNY 203,896,967.60, a decrease of 71.74% compared to the same period last year, primarily due to the implementation of new revenue standards and the impact of the pandemic[11] - The operating cost for the current period was CNY 108,829,384.56, a decrease of 81.39% compared to the same period last year, reflecting the same reasons as the revenue decline[12] - The company's total equity attributable to shareholders decreased to CNY 1,456,144,530.39 from CNY 1,478,825,226.83[37] - The basic and diluted earnings per share for the first quarter were both -¥0.055, down from ¥0.049 in the previous period[48] - The operating profit for the first quarter was ¥11,669,345.71, a decrease of 56.1% from ¥26,584,284.36 in the previous year[46] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥43,973,509.98, down 146.99% from ¥93,578,867.36 in the same period last year[9] - The company reported a cash inflow from operating activities of ¥588,549,883.18, down from ¥836,914,480.93 in the previous period, reflecting a decline of 29.7%[51] - The cash flow from financing activities was 540,000.00 CNY, with no significant inflows from borrowings or other financing activities reported[53] - The company experienced a net increase in cash and cash equivalents of 536,321,759.13 CNY, contrasting with a decrease of -61,259,766.72 CNY in the previous period, indicating a positive cash flow trend[53] - The total cash and cash equivalents at the end of the period reached 988,676,372.30 CNY, up from 723,326,297.63 CNY, indicating a strong liquidity position[53] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,227,855,138.80, a decrease of 2.85% from ¥2,293,137,964.85 at the end of the previous year[9] - The company's total liabilities decreased to CNY 771,170,608.41 from CNY 814,312,738.02 year-over-year[37] - The total non-current liabilities decreased to CNY 151,085,541.01 from CNY 168,452,141.30[41] - The company's retained earnings decreased to CNY 693,244,763.37 from CNY 715,925,459.81[37] - The total assets of the company as of January 1, 2020, amounted to CNY 2,285,101,114.26[63] - The total liabilities of the company were CNY 784,954,802.67 as of January 1, 2020[63] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,192[12] - The top shareholder, Liaoning Fangda Group Industrial Co., Ltd., held 38.34% of the shares, totaling 159,366,925 shares[12] Revenue Recognition Standards - The company implemented new revenue and leasing standards starting in 2020, which may impact future financial reporting and performance metrics[57] - The company has implemented the new revenue recognition standards starting January 1, 2020, which will affect the recognition of revenue from certain sales models[60] - The company’s retail revenue is categorized into two types: distribution model and consignment model, with different revenue recognition methods under the new standards[60]

Financial Performance - The company's operating revenue for 2019 was CNY 2,702,172,506.80, representing a 5.91% increase compared to CNY 2,551,465,479.53 in 2018[16]. - The net profit attributable to shareholders for 2019 was CNY 154,319,737.05, a significant increase of 70.92% from CNY 90,287,114.32 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 122,963,885.68, up 29.64% from CNY 94,847,884.08 in 2018[16]. - The net cash flow from operating activities reached CNY 156,014,294.51, an increase of 47.33% compared to CNY 105,894,699.12 in 2018[16]. - Basic earnings per share for 2019 were CNY 0.37, reflecting a 68.18% increase from CNY 0.22 in 2018[16]. - Total assets at the end of 2019 amounted to CNY 2,293,137,964.85, a 5.67% increase from CNY 2,170,065,168.41 at the end of 2018[16]. - The net assets attributable to shareholders increased by 9.80% to CNY 1,478,825,226.83 from CNY 1,346,825,969.78 in 2018[16]. - The weighted average return on equity for 2019 was 10.91%, an increase of 4.04% from 6.87% in 2018[16]. - The company reported a total sales target of CNY 3.15 billion for 2020, which is expected to remain flat compared to the previous year[84]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, totaling CNY 33,257,511.52 based on the total share capital of 415,718,940 shares[5]. - The cash dividend payout ratio for 2019 is 21.55% of the net profit attributable to the company's ordinary shareholders[96]. - The company has maintained a consistent cash dividend of 0.80 yuan per 10 shares for the years 2017, 2018, and 2019[93]. - The total distributable profit for 2019 is reported at 136,460,078.54 yuan[96]. - The company has a three-year shareholder dividend return plan in place, which has been strictly followed[91]. Shareholder Changes - The company underwent a change in controlling shareholder, with the stake transferred from Shenyang Zhongxing Commercial Group to Liaoning Fangda Group[15]. - Fangda Group became the controlling shareholder of Zhongxing Commercial on April 10, 2019, through an agreement transfer[99]. - Fangda Group committed to ensuring no substantial competition with Zhongxing Commercial and will notify the company of any potential business opportunities that may conflict[99]. - The company guarantees the independence of its operations, including personnel, assets, and business activities, separate from Fangda Group[98]. - The company’s controlling shareholder changed from Shenyang Zhongxing Commercial Group to Fangda Group, with the transfer of 80,911,740 shares completed on April 10, 2019[146]. Operational Developments - The company has transitioned to a market-oriented development phase since April 2019, enhancing management efficiency and operational flexibility[29]. - The company is focusing on expanding its retail business across multiple cities, including Shenyang, Anshan, and Fushun[25]. - The company has implemented a "racehorse mechanism" to motivate employees and improve talent utilization, enhancing overall operational efficiency[40]. - The company is committed to improving its financial management and internal audit processes to enhance operational efficiency[85]. - The company is focusing on enhancing customer experience and service quality as a core competitive advantage[84]. Investment and Subsidiaries - The company established a wholly-owned subsidiary in July 2019 to support its business development in Gansu Province[56]. - The company invested CNY 4.5 million in its wholly-owned subsidiary for a poverty alleviation project in Gansu Province, establishing a joint venture with Shenyang Yongli Industrial Co., Ltd.[156]. - The company reported a government subsidy of CNY 674.06 million, down from CNY 1,952.71 million in 2018[21]. - The company’s investment activities resulted in a net cash outflow of CNY 465,925,265.69, which is a 241.09% increase in outflow compared to CNY 136,597,372.58 in 2018[62]. Market and Competitive Position - The company has a strong membership base with high activity and consumption capacity, contributing to its competitive advantage[32]. - The company successfully introduced key brands such as TOM FORD and Givenchy, enhancing its brand portfolio and operational quality[40]. - The company is actively pursuing new technology development to improve operational efficiency and customer experience, although specific technologies were not detailed[187]. - Strategic acquisitions are being considered to bolster market presence and diversify offerings, with an emphasis on aligning with growth objectives[187]. Employee and Management Structure - The total number of employees in the company is 1,505, with 1,476 in the parent company and 29 in major subsidiaries[197]. - The total salary paid to directors, supervisors, and senior management during the reporting period amounts to 6,554,800 CNY[196]. - The company emphasizes a performance-oriented compensation policy to enhance market competitiveness and internal fairness[199]. - The company plans targeted management training for all levels of employees to improve knowledge structure and service skills[200]. - The company has established a salary incentive mechanism based on job performance to maximize employee motivation[199]. Legal and Compliance Matters - The company is currently involved in a rental contract dispute, with a total amount of 18,953,262.08 RMB claimed in the lawsuit[125]. - The company has not faced any penalties or corrective actions during the reporting period[126]. - The company has not engaged in any related party transactions during the reporting period[128]. - The company has committed to not engage in transactions that would harm Zhongxing Commercial's interests before the integration of Yishang Group's assets[103]. Future Outlook - Future outlook indicates a focus on market expansion and the introduction of new products, aiming to enhance competitive positioning in the retail sector[187]. - The company plans to enhance its marketing strategies to attract a broader customer base, leveraging data analytics for targeted campaigns[187]. - The company is committed to sustainability initiatives, aiming to reduce operational costs and improve brand reputation through eco-friendly practices[187].