Financial Performance - The company's operating revenue for 2021 was CNY 2,380,482,131.93, a decrease of 19.24% compared to CNY 2,947,576,076.91 in 2020[19] - The net profit attributable to shareholders for 2021 was CNY 707,643,758.24, down 15.18% from CNY 834,255,798.05 in 2020[19] - The net cash flow from operating activities was negative CNY 212,149,846.60, a decline of 131.50% compared to CNY 673,459,087.85 in 2020[19] - The basic earnings per share for 2021 was CNY 0.8746, a decrease of 15.18% from CNY 1.0311 in 2020[19] - The total assets at the end of 2021 were CNY 6,919,293,895.99, a decrease of 10.81% from CNY 7,757,698,227.52 at the end of 2020[20] - The net assets attributable to shareholders increased by 15.44% to CNY 4,685,336,624.41 from CNY 4,058,602,429.37 in 2020[20] - The weighted average return on equity for 2021 was 16.21%, down from 22.91% in 2020, a decrease of 6.70%[19] - The company reported a total of CNY 21.11 million in non-recurring gains and losses for 2021, down from CNY 26.07 million in 2020, indicating a decrease in non-operational income[25] - The company reported a total revenue of approximately 2.29 billion CNY and a net profit of around 747.92 million CNY for the reporting period[70] - The company reported a net profit of CNY 736,375,816.07 for the year 2021, with a total distributable profit of CNY 2,746,082,059.45[132] Cash Flow and Investments - The net cash flow from operating activities was negative CNY 212,149,846.60, a decrease of 131.50% compared to the previous year[55] - The net cash flow generated from investment activities increased by 478.78% year-on-year, mainly due to a decrease in the purchase of government bond reverse repos at the end of the reporting period[56] - The net cash flow from financing activities improved by 60.06% compared to the previous year, as the repayment of bank loans decreased[56] - The total investment amount for the reporting period was 342,435,421.34 yuan, a decrease of 63.18% compared to the previous year's investment of 930,023,628.22 yuan[64] - The company has entrusted CNY 740 million in financial management, with a remaining balance of CNY 370 million[185] Real Estate Development - The company has maintained a strong competitive advantage in the Zhuhai real estate market, focusing on project construction and sales strategies[33] - The company is involved in residential development and is beginning to explore commercial complex construction and operation[34] - The company has a total land reserve of 790,000 square meters in Zhuhai Doumen District, with a total building area of 1,730,000 square meters[35] - The company is currently developing several projects, including the Shiyongfeng Scenic Square, which has a planned investment of 1,016.8 million yuan and is 90% completed[35] - The company has a sales area of 195,926 square meters for the Cuihu Garden project, with a cumulative sales amount of 162,919,000 yuan[36] - The company aims to diversify its project locations beyond Zhuhai Doumen District to mitigate risks associated with concentrated land reserves[35] Market Trends and Strategies - The real estate market in Zhuhai is expected to remain stable and positive in the long term, supported by government policies and regional development initiatives[32] - The total investment in real estate development in China for 2021 was CNY 14.76 trillion, with a growth rate of 4.4% compared to the previous year, indicating a recovering market[31] - The company is actively adjusting its development pace and sales strategies in response to macroeconomic conditions and industry policies[33] - The company is focused on enhancing project development quality and has made progress in various projects, including the preliminary acceptance of the first phase of the Shiroyama Peak Plaza[41] Shareholder and Governance - The company has established a fair and transparent employee performance evaluation and incentive mechanism, linking assessment results directly to employee compensation[84] - The company operates independently from its controlling shareholder in terms of business, personnel, assets, institutions, and finance, ensuring no unfair advantages are provided[87] - The company has a complete and independent business system, with no competition from its controlling shareholder in the real estate development sector[87] - The company has independent financial management, with a separate accounting system and bank accounts, ensuring no shared financial resources with the controlling shareholder[88] - The company has established a social responsibility system to manage relationships with various stakeholders and uphold ethical business practices[84] Future Outlook and Plans - The company plans to complete a residential project with a new construction area of 200,000 square meters and a commercial project with 240,000 square meters in 2022[74] - The company aims for a full sales rate of 100% for the second phase of the Cuihu Garden project and 55% for the Shiyong Shangguan Garden project in 2022[75] - The company will focus on bank loans as the primary financing method while exploring various financing channels to ensure liquidity and reduce costs[75] - The company is committed to integrating new materials and construction techniques to improve the quality of its properties[76] Employee and Training Initiatives - The company emphasizes training for new employees and has a structured annual training plan based on business needs[126] - The employee composition includes 581 production staff, 39 sales personnel, 78 technical staff, 23 financial staff, and 159 administrative staff[123] - The company has provided various training programs for all employees in 2021 to enhance their skills and career development[148] Environmental and Social Responsibility - The company strictly adhered to environmental regulations and was not penalized for any environmental issues during the reporting period[145] - The company donated a total of 1.85 million RMB to various charitable causes, including 1 million RMB for flood relief in Henan Province and 50,000 RMB for poverty alleviation projects[147] - The company actively participated in rural revitalization efforts, purchasing over 50,000 RMB worth of agricultural products to support local farmers[150] Corporate Governance and Compliance - The company has established an effective internal control system in compliance with relevant regulations and has updated its internal control policies[135] - The company maintained close communication with independent directors during the pandemic through video, phone, and email, ensuring they were informed about the company's operations and internal controls[140] - The company revised 17 internal control systems to comply with the latest regulations, enhancing its governance and operational compliance[141]

Financial Performance - The company's operating revenue for 2020 was CNY 2,947,576,076.91, representing a 7.07% increase compared to CNY 2,752,899,566.46 in 2019[16] - The net profit attributable to shareholders for 2020 was CNY 834,255,798.05, a decrease of 5.44% from CNY 882,223,428.71 in 2019[16] - The basic earnings per share for 2020 was CNY 1.0311, down 5.44% from CNY 1.0904 in 2019[16] - Total revenue for 2020 was approximately CNY 2.95 billion, representing a year-on-year increase of 7.07% compared to CNY 2.75 billion in 2019[45] - Real estate sector contributed CNY 2.84 billion, accounting for 96.49% of total revenue, with a year-on-year growth of 15.23%[47] - The company reported a net profit of 834,255,798.05 yuan for the year 2020, with a retained earnings balance of 2,090,615,806.58 yuan[82] - The net profit for the reporting period was CNY 833,880,129.35, a decrease of CNY 31,895,305.52 compared to the previous year[92] Cash Flow and Assets - The net cash flow from operating activities decreased significantly by 72.55%, amounting to CNY 673,459,087.85 compared to CNY 2,453,438,452.22 in 2019[16] - The total assets at the end of 2020 were CNY 7,757,698,227.52, a decrease of 10.92% from CNY 8,708,859,437.57 at the end of 2019[17] - As of the end of 2020, cash and cash equivalents amounted to ¥1,889,827,544, representing 24.36% of total assets, a slight increase from 24.22% at the beginning of the year[61] - Inventory decreased to ¥3,572,971,225, accounting for 46.06% of total assets, down from 46.74% due to the transfer of development products to cost of sales[61] Market and Sales Performance - The company sold a total of 89,000 square meters of real estate in 2020, demonstrating resilience despite the challenges posed by the COVID-19 pandemic[31] - The total transaction volume of residential properties in Zhuhai was 54,629 units in 2020, down 12% year-on-year, with an average transaction price of 25,230 yuan per square meter, up 10% year-on-year[36] - The average transaction price in the Doumen District was 15,000 yuan per square meter, reflecting an 11% year-on-year increase despite a more than 50% decline in transaction volume[36] - The company reported a significant decline in sales due to the COVID-19 pandemic, but the situation improved as the economy gradually recovered[37] Risks and Challenges - The company faces several risks, including policy risk, project concentration risk, market environment risk, and risks related to the COVID-19 pandemic[4] - The company reported a significant decline in net cash flow from operating activities, indicating potential liquidity issues[16] - The company’s long-term equity investments decreased by 77.94%, reflecting a provision for impairment loss of CNY 61.82 million on an associate company[26] Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 1 per 10 shares, based on a total of 809,095,632 shares[4] - The cash dividend payout ratio for 2020 is significantly lower than the 50.81% payout ratio in 2018, indicating a shift in dividend policy[80] - The company will not issue new shares or convert capital reserves into shares for the 2020 profit distribution[82] Corporate Governance and Management - The company appointed a new president, Li Xupeng, who also serves as the legal representative, with the change registered on October 29, 2020[122] - The company has seen a significant turnover in its executive team, with multiple resignations and appointments in 2020, indicating a strategic shift in leadership[142] - The company’s financial management is overseen by CFO Wang Lihong, who has been in the role since November 11, 2019[141] - The company has a diverse board with independent directors, including Liu Aping, Xue Ziqiang, and Wang Xiaohua, ensuring governance and oversight[141] Social Responsibility and Community Engagement - The company donated CNY 1 million to the Guangdong Red Cross for COVID-19 medical equipment and supplies[116] - The company provided rent reductions totaling CNY 122.4 million to merchants renting its shops during the pandemic[116] - A total of CNY 56 million was donated to the Zhuhai Red Cross, with CNY 40 million allocated for water rescue equipment and CNY 16 million for youth first aid training[116] - The company contributed CNY 50 million to a targeted poverty alleviation fund in the Doumen District[119] Audit and Compliance - The company has a standard unqualified audit opinion for the financial statements as of December 31, 2020[192] - The audit report was signed on April 27, 2021, by Da Hua Certified Public Accountants[192] - The audit committee supervised the annual report audit process, ensuring compliance and effective internal control measures were in place[182] - No significant internal control deficiencies were identified during the reporting period, reflecting strong governance practices[186]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,418,426,973.81, representing a 37.98% increase compared to CNY 1,028,014,082.18 in the same period last year[16]. - The net profit attributable to shareholders was CNY 535,341,867.62, up 21.01% from CNY 442,402,434.01 year-on-year[16]. - The net cash flow from operating activities reached CNY 1,193,273,504.71, a significant increase of 1,466.99% compared to a negative cash flow of CNY 87,292,081.53 in the previous year[16]. - The weighted average return on equity was 18.51%, an increase of 0.83% from 17.68% in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 525,052,560.29, which is a 38.51% increase from CNY 379,071,321.73 in the same period last year[16]. - The company achieved operating revenue of 1,418.43 million yuan, a year-on-year increase of 37.98%[30]. - The net profit attributable to the parent company was 535.34 million yuan, representing a year-on-year growth of 21.01%[30]. - The total comprehensive income for the first half of 2019 was ¥535,031,362.47, compared to ¥447,619,565.46 in the first half of 2018, showing an increase of approximately 19.5%[128]. - The company reported a total profit of ¥720,070,368.09 for the first half of 2019, compared to ¥591,045,207.51 in the first half of 2018, which is an increase of approximately 21.8%[127]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 8,469,325,950.80, reflecting a 15.76% increase from CNY 7,316,030,589.91 at the end of the previous year[16]. - The total assets as of June 30, 2019, amounted to 8,469.33 million yuan, with total equity attributable to shareholders of 2,823.43 million yuan[30]. - The company's total assets at the end of the reporting period were approximately 2,822.83 million yuan[151]. - Total liabilities increased to CNY 5,653,542,646.21, up from CNY 4,630,730,831.79, reflecting a growth of approximately 22.1%[119]. - The total liabilities at the end of the reporting period were approximately 1,982.80 million yuan[151]. Cash Flow - The net cash flow from operating activities for the first half of 2019 was ¥1,193,273,504.71, a significant improvement compared to a net loss of ¥87,292,081.53 in the same period of 2018[136]. - Cash received from sales of goods and services was ¥2,053,153,881.18, significantly higher than ¥1,046,944,638.69 in the first half of 2018[134]. - The company reported a net increase in cash and cash equivalents of ¥878,860,175.21, contrasting with a decrease of ¥13,089,153.91 in the same period last year[137]. - The total cash and cash equivalents at the end of the period amounted to ¥3,055,344,688.14, up from ¥1,842,141,434.08 at the end of the first half of 2018[137]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,921[99]. - The largest shareholder, Liang Shezeng, holds 53.57% of the shares, amounting to 433,440,000 shares[99]. - The total number of shares outstanding is 809,095,632[97]. - There were no significant changes in the number of shares held by major shareholders during the reporting period[99]. Company Operations - The company operates primarily in real estate development and management, focusing on residential sales complemented by commercial properties[24]. - The company has a total of 82 million square meters of undeveloped land and 179 million square meters of gross floor area as of the end of the reporting period[31]. - The company’s real estate sales area for the first half of 2019 was 152,200 square meters, with a total saleable area of 311,100 square meters as of June 30, 2019[30]. - The company’s rental properties have a leasing rate of 100% for certain commercial properties, indicating strong demand in the market[36]. Risks and Challenges - The company faces risks including policy risks, project concentration risks, and market environment risks[4]. - The company faces policy risks due to macroeconomic controls in the real estate sector, which could adversely affect operations if not adapted to[60]. - The company has a concentrated land reserve primarily in the Doumen District of Zhuhai, which poses risks related to project singularity[60]. Corporate Governance - The company has not experienced any major litigation or arbitration matters during the reporting period[69]. - The company has not undergone any bankruptcy reorganization during the reporting period[68]. - The company has not implemented any employee incentive plans during the reporting period[73]. - The company has not encountered any media scrutiny during the reporting period[70]. - The company has not faced any penalties or rectification issues during the reporting period[71]. Social Responsibility - The company donated RMB 200,000 worth of desks, chairs, uniforms, and learning supplies to a primary school in Yunnan Province to improve educational conditions for impoverished children[90]. - The company contributed RMB 100,000 to the Zhuhai Poverty Alleviation Foundation for targeted poverty alleviation efforts[90]. - Total funds allocated for poverty alleviation amounted to RMB 1,000,000, with RMB 200,000 specifically for educational support[91]. Accounting and Financial Reporting - The financial report for the first half of 2019 was not audited[114]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect its financial position accurately[160]. - The company uses RMB as its functional currency for accounting purposes[162]. - The company has established specific accounting policies for its real estate development activities, including provisions for bad debts and inventory measurement[159].

Financial Performance - The company's operating revenue for the first half of 2017 was ¥195,955,203.62, a decrease of 81.10% compared to ¥1,036,796,465.66 in the same period last year[16]. - The net profit attributable to shareholders was a loss of ¥11,332,152.20, representing a decline of 108.48% from a profit of ¥133,666,495.29 in the previous year[16]. - The net cash flow from operating activities was negative at ¥112,970,371.54, down 110.92% from ¥1,034,708,417.96 in the same period last year[16]. - Total revenue for the reporting period was ¥195,955,203.62, a decrease of 81.10% compared to ¥1,036,796,465.66 in the same period last year[36]. - The company reported an investment loss of ¥8,820,028.94, primarily due to losses from Yuchai Marine Power Co., Ltd[40]. - The total comprehensive income for the period was CNY -12,623,475.76, compared to CNY 133,249,987.82 in the same period last year, reflecting a significant downturn[121]. - The company reported a net cash flow from investment activities of 26,694,372.47 CNY, a significant improvement compared to the previous period's negative cash flow of -138,849,240.58 CNY[131]. - The company experienced a comprehensive loss of -12,623,475.76 CNY during the period, contributing to the decrease in total equity[134]. Assets and Liabilities - Total assets increased by 7.92% to ¥7,757,761,139.01 from ¥7,188,600,658.75 at the end of the previous year[16]. - The net assets attributable to shareholders decreased by 17.81% to ¥1,471,066,019.06 from ¥1,789,854,511.42 at the end of the previous year[16]. - Cash and cash equivalents at the end of the reporting period were ¥2,063,132,012, a decrease in proportion to total assets from 28.30% to 26.59%[42]. - Inventory increased to ¥4,504,922,400, representing 58.07% of total assets, up from 57.43%[42]. - Total liabilities increased to ¥6,279,367,930.54 from ¥5,390,127,634.36, which is an increase of approximately 16%[112]. - The total equity attributable to the parent company decreased from CNY 2,660,720,955.33 to CNY 2,341,856,045.12, a decline of about 11.9%[117]. Cash Flow - The company's cash and cash equivalents saw a net increase of CNY 70.66 million, a decrease of 93.61% compared to the previous year[34]. - The cash flow from operating activities shows a net outflow of CNY 112,970,371.54, a significant decline from a net inflow of CNY 1,034,708,417.96 in the previous period[127]. - The cash outflow from financing activities was CNY 1,467,684,492.07, compared to CNY 1,036,405,757.46 in the previous period, indicating increased financing costs[128]. Dividends and Shareholder Information - The company does not plan to distribute cash dividends or issue bonus shares for this period[5]. - The company distributed dividends totaling 307,456,340.16 CNY during the period, impacting the retained earnings[136]. - The total number of shares is 809,095,632, with 20.15% being limited sale shares and 79.85% being unrestricted sale shares[91]. - The largest shareholder, Liang Shezeng, holds 53.57% of the total shares, amounting to 433,440,000 shares[94]. Risks and Challenges - The company faces significant risks including policy risks, project concentration risks, and market environment risks[4]. - The company faces policy risks due to macroeconomic controls in the real estate market, which could adversely affect operations if not adapted to[53]. - Financial risks are highlighted as the real estate industry is capital-intensive with long development cycles, potentially leading to financing constraints[54]. Operational Highlights - The company completed construction of 214,000 square meters of buildings in the first half of 2017, with 983,000 square meters still under construction[30]. - The company maintains a strong brand influence and competitive advantage in the Zhuhai region, supported by a solid land reserve for future development[26]. - The company reported a 69.21% increase in cash and cash equivalents compared to the same period last year, primarily due to the maturity of bank wealth management products[25]. Accounting Policies - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[157]. - The company follows specific accounting policies for revenue recognition and measurement, particularly in real estate development[156]. - The company recognizes income, expenses, and profits from subsidiaries or businesses from the acquisition date to the end of the reporting period in the consolidated income statement[167]. Corporate Governance - The financial statements were approved by the board of directors on August 28, 2017, ensuring compliance with accounting standards[154]. - The company has not engaged in any major related party transactions during the reporting period[68]. - There were no significant litigation or arbitration matters reported during the period[63].