广东世荣兆业股份有限公司 2015 年第三季度报告正文 证券代码：002016 证券简称：世荣兆业 公告编号：2015-053 广东世荣兆业股份有限公司 2015 年第三季度报告正文 1 广东世荣兆业股份有限公司 2015 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。 公司负责人梁家荣、主管会计工作负责人严军及会计机构负责人(会计主管 人员)肖义平声明：保证季度报告中财务报表的真实、准确、完整。 2 广东世荣兆业股份有限公司 2015 年第三季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等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） | 5,119,033,549.39 | 4,527,653,402.2 ...

广东世荣兆业股份有限公司 2015 年半年度报告全文 广东世荣兆业股份有限公司 2015 年半年度报告 2015 年 08 月 1 广东世荣兆业股份有限公司 2015 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 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报告的董事会会议。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 公司负责人梁家荣、主管会计工作负责人严军及会计机构负责人(会计主管 人员)肖义平声明：保证本半年度报告中财务报告的真实、准确、完整。 2 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介 5 | | 第三节 | 会计数据和财务指标摘要 7 | | 第四节 | 董事会报告 9 | | 第五节 | 重要事项 16 | | 第六节 | 股份变动及股东情况 25 | | 第七节 | 优先股相关情况 29 | | 第八节 | 董事、监事、高级管理人员情况 30 | | 第九节 | 财务报告 31 | | 第十 ...

广东世荣兆业股份有限公司 2015 年第一季度报告正文 证券代码：002016 证券简称：世荣兆业 公告编号：2015-023 广东世荣兆业股份有限公司 2015 年第一季度报告正文 1 广东世荣兆业股份有限公司 2015 年第一季度报告正文 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。 公司负责人梁家荣、主管会计工作负责人严军及会计机构负责人(会计主管 人员)肖义平声明：保证季度报告中财务报表的真实、准确、完整。 2 广东世荣兆业股份有限公司 2015 年第一季度报告正文 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等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） | 18,057,554.58 | 129,069,227.93 | -86.01% | | 归属于上市公司股东的净利润（ ...

广东世荣兆业股份有限公司 2014 年年度报告全文 广东世荣兆业股份有限公司 2014 年年度报告 2015 年 03 月 1 广东世荣兆业股份有限公司 2014 年年度报告全文 第一节 重要提示、目录和释义 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司经本次董事会审议通过的利润分配预案为：以 2015 年 03 月 15 日的公 司总股本 809,095,632 股为基数，向全体股东每 10 股派发现金红利 1.00 元（含 税），送红股 0 股（含税），不以公积金转增股本。 公司负责人梁家荣、主管会计工作负责人严军及会计机构负责人(会计主管 人员)肖义平声明：保证年度报告中财务报告的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次年报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 张世明 董事 出差 严军 张陶伟 董事 工作原因 龙隆 郑丽惠 独立董事 出差 张曜晖 | 目录 | | --- | | 第一节 | 重要提示、目录和释义 2 ...

1 广东世荣兆业股份有限公司 2014 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。 广东世荣兆业股份有限公司 2014 年第三季度报告正文 所有董事均已出席了审议本次季报的董事会会议。 证券代码：002016 证券简称：世荣兆业 公告编号：2014-053 公司负责人梁家荣、主管会计工作负责人严军及会计机构负责人(会计主管人员)肖义平声明：保证季 度报告中财务报表的真实、准确、完整。 广东世荣兆业股份有限公司 2014 年第三季度报告正文 2 | | 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） | 4,655,294,387.04 | 3,562,292,557.15 | | | 30.68% | | 归属于上市公司股东的净资产 | 1,574,900,376.14 | | 1,597,158,862.27 | | -1.39% | | （元） | ...

广东世荣兆业股份有限公司 2014 年半年度报告全文 广东世荣兆业股份有限公司 2014 年半年度报告 2014 年 08 月 1 广东世荣兆业股份有限公司 2014 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 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报告的董事会会议。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 公司负责人梁家荣、主管会计工作负责人郑泽涛及会计机构负责人(会计主 管人员)肖义平声明：保证本半年度报告中财务报告的真实、准确、完整。 2 | 目录 | | --- | | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介 5 | | 第三节 | 会计数据和财务指标摘要 7 | | 第四节 | 董事会报告 9 | | 第五节 | 重要事项 16 | | 第六节 | 股份变动及股东情况 22 | | 第七节 | 优先股相关情况 25 | | 第八节 | 董事、监事、高级管理人员情况 26 | | 第九节 ...

广东世荣兆业股份有限公司 2014 年第一季度报告正文 证券代码：002016 证券简称：世荣兆业 公告编号：2014-021 广东世荣兆业股份有限公司 2014 年第一季度报告正文 1 广东世荣兆业股份有限公司 2014 年第一季度报告正文 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。 公司负责人梁家荣、主管会计工作负责人郑泽涛及会计机构负责人(会计主 管人员)肖义平声明：保证季度报告中财务报表的真实、准确、完整。 2 广东世荣兆业股份有限公司 2014 年第一季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等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） | 129,069,227.93 | 186,972,272 ...

[Company Profile and Financial Summary](index=6&type=section&id=%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5%E4%B8%8E%E8%B4%A2%E5%8A%A1%E6%91%98%E8%A6%81) [Company Profile](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Guangdong Shirong Zhaoye Co., Ltd. (Stock Code: 002016) is primarily engaged in real estate development and operations, having shifted its main business from medical devices to real estate in 2008 through a major asset restructuring, with Mr. Liang Shezeng becoming the controlling shareholder Company Profile | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Shirong Zhaoye | | **Stock Code** | 002016 | | **Legal Representative** | Liang Jiarong | | **Main Business** | Real Estate Development and Operations | - The company completed a major asset restructuring in **2008**, changing its main business from medical device manufacturing and sales to real estate development and operations, with Mr. Liang Shezeng replacing Zhuhai Weir Group Co., Ltd. as the controlling shareholder[17](index=17&type=chunk) [Financial Summary and Key Indicators](index=8&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E6%91%8B%E8%A6%81) In 2013, the company's operating revenue grew by 57.55% and net profit attributable to parent company surged by 225.92%, though excluding non-recurring gains, net profit declined by 3.15%, indicating growth was driven by non-operating activities like asset disposal, while operating cash flow turned positive, reflecting improved core business collection capabilities Key Accounting Data and Financial Indicators for 2013 | Indicator | 2013 (CNY) | 2012 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 972,969,484.95 | 617,581,363.04 | 57.55% | | **Net Profit Attributable to Shareholders** | 554,450,764.90 | 170,118,122.39 | 225.92% | | **Net Profit Attributable to Parent (Excl. Non-recurring)** | 71,297,154.85 | 73,617,651.85 | -3.15% | | **Net Cash Flow from Operating Activities** | 187,546,320.28 | -77,932,662.44 | 340.65% | | **Basic Earnings Per Share** | 0.86 | 0.26 | 230.77% | | **Weighted Average Return on Net Assets** | 39.91% | 16.57% | 23.34% | | **Total Assets** | 3,562,292,557.15 | 2,610,529,425.98 | 36.46% | - The significant increase in net profit attributable to the parent company was primarily due to non-recurring gains, with the largest portion coming from **834 million CNY** in non-current asset disposal gains from the transfer of equity in an associate company; excluding this, core business profit actually decreased by **3.15%**[20](index=20&type=chunk)[22](index=22&type=chunk)[31](index=31&type=chunk) [Board of Directors' Report](index=10&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E8%91%A3%E4%BA%8B%E4%BC%9A%E6%8A%A5%E5%91%8A) [Overview of Operations](index=10&type=section&id=%E4%B8%80%E3%80%81%E6%A6%82%E8%BF%B0) In 2013, the company effectively implemented its five-year strategic plan by targeting the rigid demand market, revitalizing existing assets, increasing land reserves, and optimizing corporate governance, achieving significant results in sales performance, asset structure, and cross-regional development, laying a solid foundation for future growth - Full-year contracted sales reached **1.33 billion CNY**, a **61%** year-over-year increase[26](index=26&type=chunk) - The company optimized its asset structure and significantly enhanced return on net assets by transferring **40%** equity in Zhuhai Shirong Real Estate Development Co., Ltd., receiving **1.066 billion CNY** in transfer proceeds[26](index=26&type=chunk) - The company actively expanded its land reserves by acquiring and cooperatively developing new projects in Zhuhai, Weihai, and Beijing, establishing a favorable foundation for cross-regional expansion[27](index=27&type=chunk) [Analysis of Main Business](index=10&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) In 2013, the company's main business revenue grew by 66.09% due to successful project settlements like 'Shirong Mingzhu'; despite a 179.40% increase in sales expenses from higher marketing investment, overall cash flow remained healthy with net operating cash flow at **188 million CNY** and a 44.41% asset-liability ratio, while non-recurring gains, primarily from equity transfers, contributed significantly, accounting for 85.53% of net profit attributable to the parent [Revenue Analysis](index=11&type=section&id=2.1%20%E6%94%B6%E5%85%A5%E5%88%86%E6%9E%90) During the reporting period, the company's real estate sales volume significantly increased by 59.87% due to intensified sales efforts, with revenue primarily from 'Riviera - Bishui'an Phase I' and new settlement project 'Shirong Mingzhu', while customer concentration remained extremely low, as the top five clients accounted for only 1.22% of total annual sales Real Estate Business Production, Sales, and Inventory | Item | 2013 (sq.m.) | 2012 (sq.m.) | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Sales Volume** | 151,935 | 95,039 | 59.87% | | **Production Volume** | 101,050 | 167,719 | -39.75% | | **Inventory Volume** | 103,973 | 154,858 | -32.86% | - The company's customer base is highly diversified, with the top five customers' combined sales amounting to **11.5785 million CNY**, representing only **1.22%** of the total annual sales[33](index=33&type=chunk) [Cost Analysis](index=12&type=section&id=2.2%20%E6%88%90%E6%9C%AC%E5%88%86%E6%9E%90) In 2013, the company's operating costs increased by 87.07% to **607 million CNY**, aligning with revenue growth, with construction and infrastructure costs forming the largest components at 67.73% of total operating costs, while supplier concentration remained high, as the top five suppliers accounted for 70.83% of total annual procurement Operating Cost Composition | Item | 2013 Amount (CNY) | Proportion of Operating Cost (%) | | :--- | :--- | :--- | | **Construction and Installation Costs** | 358,521,335.41 | 59.07% | | **Infrastructure Construction Costs** | 52,543,588.96 | 8.66% | | **Total** | 411,064,924.37 | 67.73% | - The company exhibits high reliance on key suppliers, with the top five suppliers accounting for **70.83%** of total annual procurement, and Zhuhai Jiashun Construction Engineering Co., Ltd., the largest supplier, representing **41.24%**[37](index=37&type=chunk) [Expense Analysis](index=13&type=section&id=2.3%20%E8%B4%B9%E7%94%A8%E5%88%86%E6%9E%90) During the reporting period, both sales and income tax expenses significantly increased, with sales expenses rising by 179.40% due to higher agency fees from increased sales revenue and expanded national sales network investment, while income tax expenses surged by 198.91%, primarily attributable to gains from equity transfers Period Expense Changes | Item | 2013 (CNY) | 2012 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Selling Expenses** | 69,860,793.41 | 25,003,888.67 | 179.40% | | **Administrative Expenses** | 59,411,811.02 | 45,516,484.39 | 30.53% | | **Income Tax Expense** | 231,898,390.44 | 77,580,808.21 | 198.91% | [Cash Flow Analysis](index=13&type=section&id=2.4%20%E7%8E%B0%E9%87%91%E6%B5%81%E5%88%86%E6%9E%90) In 2013, the company's cash flow significantly improved, with net cash flow from operating activities turning positive to **188 million CNY** due to increased sales collections, and net cash flow from investing activities surging by 223.01% to **1.016 billion CNY**, primarily from equity transfer proceeds, resulting in a **1.133 billion CNY** net increase in cash and cash equivalents, a 593.21% year-over-year growth, providing ample funding for future development Key Cash Flow Statement Items | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | 187,546,320.28 | -77,932,662.44 | 340.65% | | **Net Cash Flow from Investing Activities** | 1,016,308,793.71 | 314,637,895.79 | 223.01% | | **Net Cash Flow from Financing Activities** | -70,485,780.61 | -73,208,640.37 | 3.72% | | **Net Increase in Cash and Cash Equivalents** | 1,133,369,333.38 | 163,496,592.98 | 593.21% | [Analysis of Assets and Liabilities](index=14&type=section&id=%E5%9B%9B%E3%80%81%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) As of year-end 2013, total assets grew by 36.46% to **3.562 billion CNY**, with significant changes in asset structure: cash and equivalents surged from 11.16% to 32.92% of total assets due to equity transfers and sales collections, while long-term equity investments substantially decreased from associate equity transfers; on the liability side, advances from customers increased due to real estate pre-sales, maintaining a low overall asset-liability ratio - Cash and equivalents balance reached **1.173 billion CNY** at year-end, nearly tripling from the beginning of the period, increasing its proportion of total assets by **21.76 percentage points**, primarily due to proceeds from equity transfers and commodity housing sales[47](index=47&type=chunk) - Long-term equity investments decreased from **252 million CNY** to **25 million CNY**, reducing their proportion of total assets by **8.94 percentage points**, mainly due to the transfer of equity in associate companies[47](index=47&type=chunk) - Advances from customers more than doubled from the beginning of the period, reaching **469 million CNY**, primarily due to increased receipts from commodity housing sales[48](index=48&type=chunk) [Analysis of Core Competencies](index=15&type=section&id=%E4%BA%94%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies include low-cost land reserves and significant brand influence in the Zhuhai regional market, providing strong sustainable development and risk resistance capabilities, alongside high-quality assets and a healthy financial position with a substantive asset-liability ratio of only 35.99%, well below the industry average, offering substantial financial flexibility for strategic adjustments and future growth - The company possesses low-cost land reserves in Zhuhai sufficient for many years of future development, establishing a regional competitive advantage and brand effect[49](index=49&type=chunk) - The company's assets are high-quality and highly liquid, with a substantive asset-liability ratio of only **35.99%**, significantly below the industry average, demonstrating strong risk resistance and potential to accelerate development through financial leverage[49](index=49&type=chunk) [Analysis of Investment Status](index=16&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company's external equity investments significantly decreased by 89.89% due to the disposal of some long-term equity investments; however, the company strategically established or acquired five new subsidiaries to expand into new markets like Beijing and Weihai and increase land reserves, with minimal impact on overall performance, while its stake in Zhuhai Doumen Shirong Microfinance Co., Ltd. increased to 22.88% - During the reporting period, the company added **five** new subsidiaries through investment or equity acquisition, located in Beijing and Weihai, aiming to expand into new markets and increase land reserves[54](index=54&type=chunk)[62](index=62&type=chunk) - The company's stake in Zhuhai Doumen Shirong Microfinance Co., Ltd. increased from **15.25%** to **22.88%**, with a year-end book value of **20.2654 million CNY** and investment income of **2.1536 million CNY** during the reporting period[51](index=51&type=chunk) - Controlling subsidiary Zhuhai Doumen Shirong Industrial Co., Ltd. saw its net profit increase by **153.36%** year-over-year due to gains from transferring equity in an associate company[53](index=53&type=chunk) [Outlook on Future Development](index=18&type=section&id=%E4%B8%83%E3%80%81%E5%85%AC%E5%8F%B8%E6%9C%AA%E6%9D%A5%E5%8F%91%E5%B1%95%E7%9A%84%E5%B1%95%E6%9C%9B) The company anticipates the real estate industry will evolve towards branding, concentration, and specialization; over the next 3-5 years, it will focus on enhancing operational quality, adhering to specialized, differentiated, and regional strategies, and building core capabilities in project management, marketing, and capital utilization; for 2014, plans include advancing 'Shirong Works No. 1' and subsequent phases of 'Riviera', accelerating Weihai and Beijing projects, securing approximately **600 million CNY** in funding through increased sales collections, bank credit, and exploring refinancing, while mitigating systemic risks from macroeconomic and policy changes - The company's core development strategy for the next **3-5 years** is to enhance operational quality, adhere to specialized, differentiated, and regional strategies, and build six core capabilities including project management, marketing, capital utilization, strategic investment, and brand management[56](index=56&type=chunk) - The **2014** operating plan includes intensifying sales for 'Shirong Works No. 1' Phases I and II, advancing construction for Phases III to V, accelerating preliminary work for 'Riviera Phase III', initiating planning and design for new land plots, and ensuring pre-sales for the Weihai cooperation project begin by April, with the Beijing elderly care project obtaining approval by June[57](index=57&type=chunk)[58](index=58&type=chunk) - The estimated funding gap for **2014** is approximately **600 million CNY**, planned to be addressed through increased sales collections, drawing on bank credit, utilizing debt financing capacity, and opportunistically initiating capital market refinancing[58](index=58&type=chunk) [Profit Distribution and Dividend Policy](index=20&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E5%88%86%E7%BA%A2%E6%B4%BE%E6%81%AF%E6%83%85%E5%86%B5) The company's 2013 profit distribution plan proposes a cash dividend of **0.8 CNY** per **10 shares** (tax inclusive) to all shareholders based on a total share capital of 646,095,632 shares, totaling **51.6877 million CNY**, representing 98.74% of the parent company's distributable profit, which aligns with the articles of association and shareholder return plan; over the past three years, no distribution was made in 2011, while 2012 saw a plan of 4 bonus shares and 1.5 CNY cash dividend per 10 shares 2013 Profit Distribution Proposal | Item | Content | | :--- | :--- | | **Dividend per 10 Shares (CNY) (incl. tax)** | 0.80 | | **Bonus Shares per 10 Shares (shares)** | 0 | | **Total Cash Dividend (CNY) (incl. tax)** | 51,687,650.56 | | **Cash Dividend as % of Net Profit Attributable to Parent** | 9.32% | - The company's profit distribution plans over the past three years have varied significantly: no distribution in **2011**; **4 bonus shares** and **1.5 CNY** cash dividend per **10 shares** in **2012**; and a proposed **0.8 CNY** cash dividend per **10 shares** in **2013**[64](index=64&type=chunk) [Significant Matters](index=22&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Significant Asset Transactions](index=23&type=section&id=%E5%9B%9B%E3%80%81%E8%B5%84%E4%BA%A7%E4%BA%A4%E6%98%93%E4%BA%8B%E9%A1%B9) During the reporting period, the company completed two significant asset transactions, most notably the sale of **40%** equity in Zhuhai Shirong Real Estate Development Co., Ltd. to Zhuhai Huafa Industrial Co., Ltd. for **1.066 billion CNY**, contributing **473 million CNY** or 85.28% of total net profit, and the acquisition of **100%** equity in Zhuhai Yuesheng Investment Management Co., Ltd. to increase land reserves - The company sold its **40%** equity stake in Zhuhai Shirong Real Estate Development Co., Ltd. to Zhuhai Huafa Industrial Co., Ltd. for **1.066 billion CNY**, with this transaction contributing **473 million CNY** in net profit, accounting for **85.28%** of the total annual net profit and serving as the primary source of the company's profit for the year[78](index=78&type=chunk) - To increase land reserves, the company acquired **100%** equity in Zhuhai Yuesheng Investment Management Co., Ltd. for **42.5259 million CNY**[76](index=76&type=chunk) [Significant Related Party Transactions](index=25&type=section&id=%E5%85%AD%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company engaged in significant related party transactions, including the procurement of **40.0606 million CNY** worth of goods from Zhuhai Zhaofeng Concrete Co., Ltd., controlled by the company's controlling shareholder, representing 98.4% of similar transactions, which the company states followed market pricing principles and had no adverse impact on its independence - The company procured goods from related party Zhuhai Zhaofeng Concrete Co., Ltd., controlled by the company's controlling shareholder, with a transaction amount of **40.0606 million CNY**, accounting for **98.4%** of similar transactions[81](index=81&type=chunk) [Fulfillment of Commitments](index=26&type=section&id=%E4%B8%83%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) Mr. Liang Jiarong, son of the controlling shareholder, committed during the 2008 restructuring to inject his remaining 23.75% equity in Shirong Industrial into the listed company within three years; despite initial approval from the CSRC, the application was withdrawn due to real estate macroeconomic control policies and remains unfulfilled, with the company actively seeking to complete the injection when policy permits - The commitment to inject the remaining **23.75%** equity of Shirong Industrial into the listed company remains unfulfilled due to changes in national macroeconomic control policies in **2011**, with the company planning to complete it as soon as policy conditions permit[83](index=83&type=chunk) [Share Changes and Shareholder Information](index=28&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) [Share Changes](index=28&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital increased from **461 million shares** to **646 million shares** due to the implementation of the **2012** equity distribution plan of **4 bonus shares** per **10 shares**, which consequently diluted financial indicators such as earnings per share and net assets per share - Due to the implementation of the **2012** equity distribution of **4 bonus shares** per **10 shares**, the company's total share capital increased from **461,496,880 shares** to **646,095,632 shares**[92](index=92&type=chunk)[93](index=93&type=chunk) [Shareholders and Actual Controller Information](index=29&type=section&id=%E4%B8%89%E3%80%81%E8%82%A1%E4%B8%9C%E5%92%8C%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E6%83%85%E5%86%B5) As of year-end 2013, the company had 37,393 shareholders, with Mr. Liang Shezeng serving as both controlling shareholder and actual controller, directly holding 67.09% of shares, while his concerted party, Rikaze Shirong Investment Management Co., Ltd., held 0.46%; at the end of the reporting period, **182.8 million shares** held by Mr. Liang Shezeng were pledged Top Two Shareholders' Shareholding | Shareholder Name | Shareholder Type | Shareholding (%) | Shares Held at Period End | Pledge or Freeze Status | | :--- | :--- | :--- | :--- | :--- | | **Liang Shezeng** | Domestic Natural Person | 67.09% | 433,440,000 | Pledged 182,800,000 shares | | **Rikaze Shirong Investment Management Co., Ltd.** | Domestic Non-State-Owned Legal Person | 0.46% | 3,000,000 | Frozen 3,000,000 shares | - The company's controlling shareholder and actual controller is Mr. Liang Shezeng, who acts in concert with Rikaze Shirong Investment Management Co., Ltd[95](index=95&type=chunk)[99](index=99&type=chunk)[100](index=100&type=chunk) [Corporate Governance and Internal Control](index=37&type=section&id=%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E4%B8%8E%E5%86%85%E9%83%A8%E6%8E%A7%E5%88%B6) [Corporate Governance](index=37&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) During the reporting period, the company claimed to operate in strict compliance with relevant laws like the Company Law and Securities Law, maintaining good corporate governance and independence from its controlling shareholder across all aspects; the board of directors and supervisory board completed re-elections, establishing performance evaluation and incentive mechanisms, while multiple internal policies, including the Articles of Association and Related Party Transaction Management System, were revised, and insider information registration management was strictly enforced - The company's corporate governance structure complies with relevant regulations, maintaining independence from its controlling shareholder by being completely separate in terms of business, personnel, assets, organization, and finance[115](index=115&type=chunk)[127](index=127&type=chunk) - During the reporting period, the company revised multiple governance documents, including the Articles of Association and Related Party Transaction Management System, to improve its corporate governance structure[117](index=117&type=chunk)[118](index=118&type=chunk) [Internal Control](index=41&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%86%85%E9%83%A8%E6%8E%A7%E5%88%B6) The company has established an internal control system covering all aspects of its operations and conducted a comprehensive risk assessment for its real estate business; the board of directors deemed the internal control system sound, reasonable, and effective, stating no material weaknesses were found in the '2013 Internal Control Evaluation Report', and the accounting firm issued an unqualified audit opinion on the company's internal controls related to financial reporting - The company's Board of Directors' 'Internal Control Self-Evaluation Report' concluded that no material weaknesses in internal control were found during the reporting period[138](index=138&type=chunk) - Dahua Certified Public Accountants issued an unqualified internal control audit report, stating that the company maintained effective internal controls related to financial statements in all material respects as of December 31, 2013[139](index=139&type=chunk) [Financial Report](index=43&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) [Audit Report](index=43&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) Dahua Certified Public Accountants (Special General Partnership) issued an unqualified audit opinion on the company's 2013 financial statements, affirming that they were prepared in all material respects in accordance with enterprise accounting standards and fairly presented the company's financial position, operating results, and cash flows - The auditing firm, Dahua Certified Public Accountants, issued a standard unqualified audit opinion (Dahua Audit [2014] No. 002350)[142](index=142&type=chunk)[143](index=143&type=chunk) [Financial Statements](index=43&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) Financial statements show that as of year-end 2013, total assets were **3.562 billion CNY**, net assets attributable to the parent were **1.597 billion CNY**, operating revenue for 2013 reached **973 million CNY**, net profit attributable to the parent was **554 million CNY**, and net cash flow from operating activities was **188 million CNY** Consolidated Balance Sheet (Summary) | Item | Period-End Balance (CNY) | Period-Beginning Balance (CNY) | | :--- | :--- | :--- | | **Total Current Assets** | 3,289,994,231.59 | 2,128,200,992.33 | | **Total Non-Current Assets** | 272,298,325.56 | 482,328,433.65 | | **Total Assets** | 3,562,292,557.15 | 2,610,529,425.98 | | **Total Current Liabilities** | 993,900,210.61 | 647,316,629.69 | | **Total Non-Current Liabilities** | 588,201,949.46 | 654,000,000.00 | | **Total Liabilities** | 1,582,102,160.07 | 1,301,316,629.69 | | **Total Equity Attributable to Parent Company Owners** | 1,597,158,862.27 | 1,111,932,629.37 | | **Total Owners' Equity** | 1,980,190,397.08 | 1,309,212,796.29 | Consolidated Income Statement (Summary) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | **I. Total Operating Revenue** | 972,969,484.95 | 617,581,363.04 | | **II. Total Operating Costs** | 870,902,753.00 | 514,527,258.11 | | **Add: Investment Income** | 843,123,763.94 | 210,093,052.41 | | **III. Operating Profit** | 945,190,495.89 | 313,147,157.34 | | **IV. Total Profit** | 944,600,523.23 | 314,600,733.43 | | **V. Net Profit** | 712,702,132.79 | 237,019,925.22 | | **Net Profit Attributable to Parent Company Owners** | 554,450,764.90 | 170,118,122.39 | Consolidated Cash Flow Statement (Summary) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | 187,546,320.28 | -77,932,662.44 | | **Net Cash Flow from Investing Activities** | 1,016,308,793.71 | 314,637,895.79 | | **Net Cash Flow from Financing Activities** | -70,485,780.61 | -73,208,640.37 | | **Net Increase in Cash and Cash Equivalents** | 1,133,369,333.38 | 163,496,592.98 | [Notes to Financial Statements (Selected)](index=61&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) The notes disclose the company's history, main business (real estate development and operations), and accounting policies, including revenue recognition for real estate sales upon completion, acceptance, contract signing, payment proof, and physical handover; long-term equity investments are accounted for using the cost method for subsidiaries and the equity method for associates; during the reporting period, five new subsidiaries were consolidated, primarily to expand into Beijing and Weihai markets; significant related party transactions involved concrete procurement from a controlling shareholder-controlled entity; additionally, the company provides phased guarantees for homeowner mortgage loans - The company recognizes real estate sales revenue upon completion and acceptance of the property, signing of the sales contract, receipt of buyer's payment proof, and completion of physical handover of the commodity housing[257](index=257&type=chunk) - During the reporting period, **five** new subsidiaries were consolidated, including Beijing Shirong Zhaoye Real Estate Development Co., Ltd., Zhuhai Yuesheng Investment Management Co., Ltd., and Weihai Shengrong Haoye Real Estate Development Co., Ltd., primarily to expand into new markets[287](index=287&type=chunk)[288](index=288&type=chunk)[289](index=289&type=chunk) - The company has contingent liabilities for providing phased joint and several liability guarantees for homeowner mortgage loans[449](index=449&type=chunk) - In January **2014**, the company successfully bid **635 million CNY** for two residential land plots in Zhuhai's Doumen District, totaling approximately **141,900 square meters**, which is a significant subsequent event after the balance sheet date[457](index=457&type=chunk)