Financial Performance - The company's operating revenue for the first half of 2022 was ¥22,825,983,177.73, representing a 25.36% increase compared to ¥18,208,601,921.73 in the same period last year[11]. - Net profit attributable to shareholders was ¥546,455,732.17, up 22.41% from ¥446,429,084.69 in the previous year[11]. - The net profit after deducting non-recurring gains and losses was ¥533,400,797.83, reflecting a 36.43% increase from ¥390,967,356.80 in the same period last year[11]. - The net cash flow from operating activities was ¥3,240,830,362.86, a significant increase of 6,519.05% compared to a negative cash flow of ¥50,487,698.72 in the previous year[11]. - Basic earnings per share rose to ¥0.1883, an increase of 22.27% from ¥0.1540 in the same period last year[11]. - Total assets at the end of the reporting period were ¥37,805,764,006.41, a 4.94% increase from ¥36,025,010,173.03 at the end of the previous year[11]. - The net assets attributable to shareholders increased to ¥16,418,029,320.68, up 3.98% from ¥15,790,320,329.96 at the end of the previous year[11]. - The company achieved a total revenue of 22.826 billion CNY, representing a year-on-year growth of 25.36%[31]. - The company completed a total express business volume of 8.541 billion pieces, with a year-on-year increase of 3.39%[31]. - The express service revenue amounted to 21.614 billion CNY, showing a year-on-year growth of 24.59%[31]. Strategic Focus and Market Position - Yunda Holdings is a leading comprehensive express service provider in China, focusing on technology innovation and meticulous management to enhance service quality and operational efficiency[16]. - The company aims to expand its core express business while developing high-value-added products such as Yunda Express and direct customer services, contributing to the overall logistics ecosystem[17]. - Yunda's express operating model combines self-operated hubs with a franchised last-mile network, ensuring effective control over core resources and service quality[18]. - The express logistics industry plays a strategic role in enhancing economic resource allocation efficiency and supporting e-commerce growth, with a focus on service quality and timely delivery[19]. - Yunda is shifting from price competition to service and value competition, emphasizing product differentiation and high-quality service offerings[21]. - The company has seen a significant improvement in service metrics, with effective complaint rates approaching zero and delivery times for major economic regions consistently under 48 hours[20]. - Yunda's strategic focus on high-quality service and product segmentation is expected to drive sustainable growth and improve market positioning[21]. - The market concentration index (CR8) for express and parcel services in China has increased to 84.7, indicating a trend towards consolidation among leading companies[22]. - Daily parcel volume for leading companies has surpassed 50 million, reflecting the competitive advantage of scale and operational efficiency[22]. Operational Efficiency and Investments - The company has made significant investments in infrastructure, automation, and digitalization to enhance operational efficiency and service quality[27]. - The company has established 77 self-operated hub transfer centers, achieving a 100% self-operated ratio[32]. - The company has over 80,000 various end-service resources, enhancing the efficiency of last-mile delivery[34]. - The average daily shipment volume using air transport was approximately 26,800 pieces, with partnerships established with 38 air freight agents[32]. - The company has established partnerships with over 1,800 high-quality express service clients, enhancing its marketing capabilities and customer management[35]. Risk Management and Challenges - The company has outlined potential risk factors and countermeasures in its management discussion and analysis section[2]. - The logistics industry faces risks from economic fluctuations and market competition, which could impact the overall development of the express delivery sector[66]. - The company reported a risk of operational disruptions due to ongoing COVID-19 variants and geopolitical tensions, which may lead to increased operational costs and service delays[68]. - The company emphasizes the importance of internal control and safety measures, including strict adherence to real-name delivery and inspection requirements to mitigate risks[72]. - The company acknowledges the potential risks associated with new business expansions, particularly in cross-border operations due to fluctuating exchange rates and local regulations[69]. Community Engagement and Sustainability - The company has established a Green Express Construction Office and a Green Environmental Protection Committee to promote eco-friendly practices and reduce carbon emissions[81]. - The company is focusing on green packaging innovations, including electronic waybills and biodegradable packaging, to enhance sustainability in its operations[81]. - The company is actively engaging in community environmental activities to promote sustainable living practices[81]. - The company is committed to improving its rural delivery network to support e-commerce in villages and contribute to poverty alleviation and rural revitalization efforts[82]. - The company actively participates in community volunteer services to support pandemic control efforts[82]. Shareholder and Corporate Governance - The company has not planned to distribute cash dividends or issue bonus shares for the half-year period[74]. - The company reported a 63.57% participation rate in the 2021 annual shareholders' meeting held on May 19, 2022[73]. - The company has experienced management changes, including the resignation of a vice president and director due to work arrangement adjustments and personal reasons[74]. - The company approved the unlocking of 2,125,292 restricted shares for 294 participants in the third phase of the stock incentive plan, effective from May 30, 2022[75]. - The company plans to repurchase and cancel a total of 502,528 restricted shares due to participants leaving or not meeting performance criteria, with repurchase prices set at 12.14 CNY and 7.97 CNY per share[77]. Financial Position and Liabilities - The company's total liabilities decreased by 2.57% to ¥6,616,914,613.66, which is 17.50% of total assets, compared to 20.07% previously[49]. - The company reported a significant reduction in capital expenditures, totaling ¥1,601,897,465.24, a decrease of 59.11% compared to ¥3,917,566,755.96 in the same period last year[56]. - The company has a total of 13.61 million yuan in pending litigation as a defendant and 5.67 million yuan as a plaintiff[87]. - The company has not experienced any violations regarding external guarantees during the reporting period[85]. - The company has a total of 10 joint liability guarantees for various subsidiaries, with amounts ranging from 160,000 CNY to 927,000 CNY[94]. Research and Development - Research and development investment amounted to CNY 177.71 million, reflecting a year-on-year increase of 10.17%[42]. - Research and development expenses for the first half of 2022 were CNY 177,708,088.94, compared to CNY 161,298,209.55 in the same period of 2021, marking an increase of 10.2%[138].

Financial Performance - The company's operating revenue for 2021 was approximately ¥41.73 billion, representing a 24.56% increase compared to ¥33.50 billion in 2020[23]. - The net profit attributable to shareholders for 2021 was approximately ¥1.48 billion, a 5.15% increase from ¥1.40 billion in 2020[23]. - The net cash flow from operating activities increased by 36.90% to approximately ¥2.99 billion in 2021, compared to ¥2.18 billion in 2020[23]. - Basic earnings per share for 2021 were ¥0.51, up 6.25% from ¥0.48 in 2020[25]. - Total assets at the end of 2021 were approximately ¥36.03 billion, a 22.12% increase from ¥29.50 billion at the end of 2020[25]. - The net assets attributable to shareholders increased by 9.82% to approximately ¥15.79 billion at the end of 2021, compared to ¥14.38 billion at the end of 2020[25]. - The company reported a weighted average return on equity of 9.78% for 2021, a decrease of 0.31 percentage points from 10.09% in 2020[25]. - The company achieved a total revenue of 41.729 billion yuan, an increase of 24.56% year-on-year, with express service revenue accounting for 39.432 billion yuan[67]. - The total revenue from the express delivery business in 2021 was approximately ¥103.32 billion, reflecting a year-on-year growth of 17.5%[37]. Market and Industry Trends - The total volume of express delivery services in China reached 1.083 billion pieces in 2021, a year-on-year increase of 29.9%[36]. - The company's market share in the express delivery sector continues to grow, supported by a robust increase in e-commerce activities[35]. - The government has implemented policies to support the logistics industry, enhancing the efficiency of logistics resource allocation[38]. - The express delivery industry in China is experiencing a shift towards high-quality development, with a focus on service differentiation and product stratification to enhance competitiveness[54]. - The market concentration index CR8 for express service brands in China reached 80.5%, with CR3 at approximately 53%, indicating a high level of industry concentration[56]. Operational Efficiency and Technology - The company is focused on integrating modern logistics systems to enhance service delivery and reduce overall logistics costs[39]. - Yunda's service efficiency improved by 1.83 hours in 2021, reflecting its commitment to enhancing operational efficiency and service quality[57]. - The company has implemented a flexible management strategy to maintain a cost-leading advantage, focusing on optimizing sorting operations, trunk transportation, and end management[78]. - The company has developed a smart visual system to automate the monitoring of logistics operations, significantly reducing resource waste and improving efficiency[103]. - The company has established a comprehensive digital ecosystem that integrates data from various business operations, enhancing decision-making and operational efficiency[102]. Customer Engagement and Satisfaction - The express delivery service quality of Yunda has consistently led the industry, with overall satisfaction and public satisfaction scores ranking among the top five brands[57]. - The average effective complaint rate for Yunda Express in 2021 was 0.008 per million parcels, indicating a strong customer satisfaction level[136]. - The company has enhanced its customer service system, allowing for 24/7 support and significantly reducing the pressure on human customer service representatives[115]. - Yunda's value-added services include options like insurance, cash on delivery, and privacy packaging, catering to various customer demands[88]. Strategic Initiatives and Future Plans - The company plans to distribute a cash dividend of ¥0.52 per 10 shares to all shareholders[4]. - The company plans to expand its service offerings and improve operational efficiency in response to the growing demand for online shopping[40]. - The company aims to improve the average loading rate of vehicles and optimize vehicle types to reduce transportation costs[81]. - The company is actively pursuing new strategies to enhance its operational efficiency and market reach[200]. - Future guidance indicates a focus on improving operational efficiency and exploring new revenue streams to sustain growth momentum[149]. Investments and Financial Strategies - The company established a multi-period asset-backed special plan with a total issuance amount not exceeding 2.5 billion yuan, valid for 2 years[159]. - The company raised 550 million yuan through the issuance of priority asset-backed securities, with 245 million yuan for Class A and 305 million yuan for Class B[162]. - The company invested a total of 613,999,999.90 RMB in a private placement, acquiring 6.52% of the shares[200]. - The investment is aimed at enhancing the company's capabilities in logistics and international freight forwarding[200]. Human Resources and Management - The company trained a total of 3.34 million people in 2021, enhancing the management capabilities and strategic vision of its mid-to-high-level teams[144]. - Yunda Express's core management personnel with a bachelor's degree or higher increased by 21% in 2021, reflecting a focus on building a skilled workforce[142]. - The company implemented a restricted stock incentive plan to enhance employee engagement and stabilize its core talent pool, aligning interests among shareholders, the company, and incentive recipients[141].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 18,208,601,921.73, representing a 27.18% increase compared to CNY 14,317,620,806.97 in the same period last year[11]. - The net profit attributable to shareholders for the first half of 2021 was CNY 446,429,084.69, a decrease of 34.45% from CNY 681,000,325.20 in the previous year[11]. - Basic earnings per share for the first half of 2021 were CNY 0.15, down 37.50% from CNY 0.24 in the previous year[11]. - The net cash flow from operating activities was negative CNY 50,487,698.72, a decline of 115.27% compared to CNY 330,652,992.92 in the same period last year[11]. - The company reported a significant decrease of 89.06% in material sales revenue, attributed to changes in billing rules for thermal paper[62]. - The company reported a total comprehensive income of CNY 526.70 million for the first half of 2021, down from CNY 678.50 million in the same period of 2020[159]. Assets and Liabilities - Total assets as of June 30, 2021, were CNY 31,172,792,664.18, an increase of 5.67% from CNY 29,500,766,142.95 at the end of the previous year[11]. - The total liabilities amounted to CNY 16.18 billion, compared to CNY 15.04 billion, representing an increase of about 7.55%[152]. - The company's equity attributable to shareholders reached CNY 14.91 billion, up from CNY 14.38 billion, indicating a growth of approximately 3.68%[153]. - The company's short-term borrowings increased to CNY 1.88 billion from CNY 1.66 billion, which is an increase of about 13.00%[152]. - The company's cash and cash equivalents totaled 3.367 billion yuan, a year-on-year increase of 33.81%[48]. Operational Efficiency - The company has invested in infrastructure, automation, and digitalization to enhance operational efficiency and service quality[37]. - The company's sorting efficiency improved by 14%, while the cost per express delivery decreased by 12.16% year-on-year, marking a continuous decline for seven consecutive years[52]. - The company reduced delivery time by 2.1 hours and overall service time by 4.16 hours through lean management practices[50]. - The company is focusing on digital transformation, with significant investments in technology to enhance operational efficiency and service quality[49]. Market Trends and Strategies - The express delivery industry is benefiting from policy support, with a goal to reduce logistics costs and improve delivery efficiency by 2035[21]. - The company aims to enhance its core express delivery services while expanding into high-value products like Yunda Express and Yunda Guoguo[18]. - The company is focusing on developing a multi-layered logistics ecosystem centered around express delivery, integrating surrounding industries and new business models[17]. - The e-commerce sector is rapidly evolving, with diverse platforms driving increased demand for express delivery services[23]. - The company is implementing a customer segmentation and product stratification strategy to optimize service delivery and enhance customer experience[18]. Risk Factors and Management - The company faces various risk factors and has outlined corresponding countermeasures in its report[3]. - The logistics industry is facing risks from macroeconomic fluctuations, which may affect the company's performance due to the slowing growth of the national economy[87]. - The competitive environment in the express delivery industry has improved, but there is still a risk of market share decline if the company cannot adapt to changing market dynamics[88]. - The company plans to enhance internal controls, focusing on operational safety and risk management, including strict implementation of "real-name delivery" and "face-to-face inspection" regulations[93]. Sustainability and Social Responsibility - The company is committed to sustainable development and is exploring green logistics solutions to align with national economic goals[22]. - The company has achieved nearly 100% usage of electronic waybills and about 90% usage of environmentally friendly bags, with an average daily usage of nearly 1 million[102]. - The company has invested approximately 1.4 million yuan in poverty alleviation and other public welfare expenditures as of June 2021[104]. - The company has launched a mutual aid fund for couriers to provide assistance during difficult times[104]. Shareholder and Corporate Governance - The company will not distribute cash dividends or issue bonus shares for the half-year period[96]. - The company approved the fourth phase of its restricted stock incentive plan, granting 6.3493 million shares at a price of 7.92 CNY per share to 356 eligible participants[98]. - The company held three shareholder meetings during the reporting period, with investor participation rates of 56.02%, 55.85%, and 54.97% respectively[94]. - The largest shareholder, Shanghai Luojisi Investment Management Co., Ltd., holds 1,510,552,788 shares, accounting for 51.99% of the total shares[133]. Investment and Subsidiaries - The company invested approximately ¥613.99 million in Debon Logistics, acquiring a 6.52% stake, with the investment expected to yield significant returns[73]. - The company established multiple new subsidiaries, including Jiangxi Yuhan Trading Co., Ltd., with no significant impact on overall operations[81]. - The company completed the sale of an 18.038% stake in Yunkuan Logistics to Yunkuan Logistics (Hong Kong) for ¥120 million, with no adverse effects on future operations[79]. Financial Reporting and Compliance - The company did not undergo an audit for the semi-annual financial report[149]. - The company reported no significant legal disputes or non-compliance issues during the reporting period[110][112]. - The company has not engaged in any major related party transactions or non-operating fund occupation during the reporting period[108][113].

Financial Performance - The total revenue for 2020 was approximately ¥33.50 billion, a decrease of 2.63% compared to ¥34.40 billion in 2019[16] - The net profit attributable to shareholders was approximately ¥1.40 billion, down 46.94% from ¥2.65 billion in the previous year[16] - The net profit after deducting non-recurring gains and losses was approximately ¥1.21 billion, a decline of 49.88% from ¥2.41 billion in 2019[16] - The net cash flow from operating activities was approximately ¥2.18 billion, a decrease of 56.64% compared to ¥5.04 billion in 2019[16] - The basic earnings per share were ¥0.48, down 47.25% from ¥0.91 in the previous year[16] - The total operating revenue for 2020 was approximately ¥33.5 billion, a decrease of 2.63% compared to ¥34.4 billion in 2019[155] - The company's net profit attributable to shareholders was 1.404 billion yuan, a decrease of 46.94% year-on-year, primarily due to the impact of the COVID-19 pandemic on the first quarter[128] - The total operating costs for the express service amounted to ¥29,198,737,095.36, which is an increase of 3.04% compared to the previous year[160] - The gross margin for express services decreased by 3.57 percentage points to 7.78%[158] Assets and Liabilities - The total assets at the end of 2020 were approximately ¥29.50 billion, an increase of 31.13% from ¥22.50 billion at the end of 2019[17] - The net assets attributable to shareholders were approximately ¥14.38 billion, up 6.80% from ¥13.46 billion at the end of 2019[17] - The company reported a cash and cash equivalents balance of 9.788 billion yuan, a year-on-year increase of 14.33%, with short-term financial products accounting for 6.505 billion yuan[126] - The total cash and cash equivalents at the end of the reporting period amounted to ¥724,817,607.45, up from ¥368,436,298.06 at the beginning of the period[190] - The company issued bonds totaling ¥5,319,803,667.95, which accounted for 18.03% of total liabilities, marking a significant increase due to new bond issuances[188] Market Position and Competition - Yunda's express delivery volume reached 14.144 billion pieces in 2020, with a year-on-year growth rate of 41.02%[62] - The market share of Yunda in 2020 was 16.97%, ranking second in the industry[62] - The express delivery industry continues to benefit from favorable policies, supporting its growth and modernization efforts[30] - The "Matthew Effect" in the industry is becoming more pronounced, with top express companies gaining market share while lower-quality competitors struggle[50] - The competitive landscape is evolving, with leading companies focusing on differentiated strategies and high-value services to enhance customer loyalty and market share[50] Operational Efficiency and Technology - The company has made significant investments in infrastructure, automation, and digitalization to enhance operational efficiency and service quality[62] - The company has built a big data platform capable of processing real-time data at a peak level of 1 billion, enhancing operational efficiency and customer satisfaction[70] - The company has developed an intelligent data decision support system that utilizes deep learning algorithms for accurate business volume forecasting, aiding in resource allocation[80] - The company has implemented a smart routing system that enhances delivery efficiency and customer experience by optimizing route planning based on key factors such as cargo volume and delivery time[90] - The company’s automated sorting system has improved sorting efficiency by 37%, with a capacity increase from over 12 million items per hour in 2019 to 16 million items per hour in 2020, a year-on-year increase of over 30%[106] E-commerce and Market Trends - The report indicates that the e-commerce sector is experiencing a significant transformation with the rise of new platforms and innovative marketing strategies, particularly in lower-tier cities[39] - The number of online shopping users in China reached 782 million by December 2020, representing 79.1% of the total internet users, with a growth of 7.215 million since March 2020[36] - The e-commerce live streaming market size grew from 196 million RMB in 2017 to 9.61 billion RMB in 2020, representing a staggering growth rate of 4900% over three years[43] - The company is focusing on improving its logistics and e-commerce operations to mitigate losses and enhance profitability in the future[169] Strategic Initiatives and Future Outlook - The company has outlined potential risks and countermeasures in its future development outlook[6] - Future guidance remains cautious, with the company aiming to stabilize its financial performance and reduce losses in the upcoming fiscal periods[169] - The company is assessing potential mergers and acquisitions to strengthen its market position and diversify its service offerings[169] - The company plans to continue exploring new investment opportunities to drive growth and innovation in its services[192] Employee and Management - The workforce with a master's degree or above increased by 64.52% year-on-year, while those with a bachelor's degree rose by 7.25%[121] - The company has initiated a restricted stock incentive plan to enhance employee engagement and align interests between shareholders and management[119] - The company conducted 12 online training sessions for franchise partners, training over 15,900 individuals to enhance operational quality and efficiency[145] Customer Satisfaction and Service Quality - The company’s express service satisfaction rate ranked among the top five in the industry, reflecting its commitment to service quality and customer satisfaction[116] - Yunda's service timeliness ranked second among major express companies in China, with a 72-hour on-time rate[63] - The effective complaint rate of leading express service companies in China has been continuously decreasing, approaching 0 since 2019[52]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥14.32 billion, a decrease of 7.95% compared to ¥15.55 billion in the same period last year[11]. - The net profit attributable to shareholders was approximately ¥681 million, down 47.47% from ¥1.30 billion in the previous year[11]. - The net profit after deducting non-recurring gains and losses was approximately ¥559 million, a decline of 52.87% compared to ¥1.19 billion in the same period last year[11]. - The net cash flow from operating activities was approximately ¥331 million, a significant drop of 79.95% from ¥1.65 billion in the previous year[11]. - The basic earnings per share decreased to ¥0.24, down 46.67% from ¥0.45 in the same period last year[11]. - The company reported non-recurring gains of approximately ¥121.55 million, primarily from government subsidies and investment income from financial products[15]. - The company's operating revenue for the reporting period was 14.318 billion yuan, a decrease of 7.95% year-on-year, with express service revenue at 13.260 billion yuan, down 7.16%[29]. - The net profit attributable to shareholders was 681 million yuan, a decline of 47.47% year-on-year, with the net profit after deducting non-recurring gains and losses at 559 million yuan, down 52.87%[29]. - The company reported a significant increase in comprehensive operational capacity at its distribution centers, with average vehicle loading rates improving by nearly 5 percentage points[30]. - The company reported a total comprehensive income of CNY 678,501,447.09 for the first half of 2020, compared to CNY 1,266,996,416.60 in the previous year, a decrease of 46.5%[128]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥25.05 billion, an increase of 11.36% from ¥22.50 billion at the end of the previous year[11]. - The total assets of the company at the end of the reporting period were 25.052 billion yuan, an increase of 11.36% from the beginning of the period[25]. - The company's cash and cash equivalents, along with short-term investments, totaled 9.575 billion yuan, reflecting a year-on-year growth of 24.10%[25]. - The total current liabilities amounted to approximately CNY 9.71 billion, compared to CNY 8.81 billion at the end of 2019, marking an increase of about 10.1%[120]. - The company's non-current assets totaled approximately CNY 12.69 billion, up from CNY 11.53 billion, which is an increase of about 10.1%[119]. - The company's total liabilities reached CNY 11,377,258,098.81, up from CNY 8,962,500,289.53 at the end of 2019, reflecting increased leverage[125]. Investment and Capital Expenditure - The company has increased its investment in core assets and resources, focusing on technological intelligence, management wisdom, and talent stability to enhance its competitive advantage[21]. - The company’s total investment during the reporting period was CNY 2.22 billion, a 16.02% increase compared to CNY 1.91 billion in the same period last year[52]. - The company invested ¥199,576.24 million in the sorting center automation upgrade project, achieving a completion rate of 99.14%[59]. - The company made a significant equity investment of ¥166,700,000 in Hangzhou Xinia Logistics Technology Co., Ltd., acquiring a 16.67% stake[54]. - The company plans to invest RMB 614 million to subscribe for 66.74 million shares of Debon Logistics in a private placement, resulting in a 6.5% equity stake[88]. Operational Efficiency - In the first half of 2020, the company's express service unit cost was 2.18 yuan, a year-on-year decrease of 23%, continuing a six-year downward trend[30]. - The company expanded its express service network to cover 31 provinces, with a total of 60 hub distribution centers and 32,229 service points, marking a 17% increase in the number of service points since the beginning of the year[32]. - The company added nearly 200 new routes, improving route straightening rates by over 5 percentage points, and enhanced next-day and day-after delivery rates by 2 percentage points[34]. - The average operational efficiency per employee at distribution centers improved by 6.78% year-on-year, with error rates in sorting and delivery continuously declining[30]. - The company implemented a "cost-leading" strategy, focusing on flexible management and technology innovation to reduce fixed asset depreciation costs and transportation costs[30]. Market Position and Competition - The company reported that the logistics industry is influenced by macroeconomic conditions, which may affect overall development[70]. - The express delivery industry saw a total business volume of 33.88 billion parcels nationwide in the first half of 2020, with a year-on-year growth of 22.1%[24]. - The company's market share in the express delivery sector reached 16.61%, an increase of 1 percentage point compared to the same period last year[25]. - The company faced market competition risks due to the impact of COVID-19, affecting logistics operations and leading to potential price competition in certain regions[32]. Strategic Initiatives - The company is actively implementing a multi-level competitive strategy to improve efficiency, reduce costs, and achieve quality growth based on service and brand effects[22]. - The company is focusing on strategic layout through "Yunda+" to integrate express delivery with surrounding industries and new business models[73]. - The company has established over 10 information processing platforms and systems to enhance supply chain services, focusing on technology-driven and resource-sharing logistics solutions[35]. - The company launched the "Yunda Express" product, which saw rapid growth, with total orders exceeding one million in June 2020[34]. Financial Management and Reporting - The company has not engaged in any securities or derivative investments during the reporting period[56]. - The financial statements were prepared in accordance with the Chinese Accounting Standards, reflecting the company's financial position and operating results accurately[151]. - The company assesses expected credit losses for receivables and other financial assets individually when there is objective evidence of impairment[181]. - The company recognizes cash and cash equivalents as cash on hand and deposits that are readily available for payment[169]. Shareholder Information - The total number of shares increased by 672,960,880 shares during the reporting period, which diluted the basic earnings per share and net assets per share attributable to ordinary shareholders[103]. - The company completed the registration of the third phase of the restricted stock incentive plan, granting 3,903,800 shares to 350 eligible participants[103]. - The largest shareholder, Shanghai Luo Jisi Investment Management Co., Ltd., holds 1,510,552,788 shares, accounting for 52.10% of the total shares[106]. - The company’s total share capital increased from 2,230,190,268 shares to 2,899,247,348 shares following the 2019 annual profit distribution plan, which involved a capital reserve conversion of 669,057,080 shares[103]. Legal and Compliance - As of June 30, 2020, the amount involved in unresolved lawsuits where the company and its subsidiaries are defendants is RMB 22.98 million, accounting for 0.17% of the company's net assets attributable to shareholders[81]. - The amount involved in lawsuits where the company and its subsidiaries are plaintiffs is RMB 46.53 million, accounting for 0.34% of the company's net assets attributable to shareholders[81]. - The company has not experienced any significant penalties or rectification during the reporting period[82]. - The company has not reported any major changes in fundraising projects during the reporting period[62].