证券代码：002586 证券简称：围海股份 浙江省围海建设集团股份有限公司 投资者关系活动记录表 编号：2019- 003 | --- | --- | --- | --- | |---------------------|-------------------------------|---------------------------|-------| | | | | | | 投资者关系活动 类别 | □ 特定对象调研 ■ 媒体采访 | □ 分析师会议 □ 业绩说明会 | | | | □ 新闻发布会 | □ 路演活动 | | | | ■ 现场调研 | | | | | □ 其他 | | | | 参与单位名称及 | 中国证券报：林军北 | | | | 人员姓名 | 上海证券报：林淙 | | | | | 证券日报：方佳、吴奕萱 | | | | | 证券时报：朱戴兵 | | | | | 全景网：张寅 | | | | | 上海贝塔投资管理有限公司 | | | | 时间 | 2019 年 11 月 18 日 | | | | 地点 | 公司会议室 | | | 1 | --- | --- | |------------- ...

证券代码：002586 证券简称：围海股份 浙江省围海建设集团股份有限公司投资者关系活动记录表 编号：2019-001 | --- | --- | --- | --- | |-------------------------|--------------------------------|------------------------------------------------------|-------| | | | | | | 投资者关系活动 | □ 特定对象调研 | □ 分析师会议 | | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | | □ 新闻发布会 | □ 路演活动 | | | | ■ 现场调研 | | | | | □ 其他 | | | | 参与单位名称及 人员姓名 | | 国泰君安证券股份有限公司 韩其成 陈笑 | | | | | | | | 时间 | 2019 年 2 月 28 日 | | | | 地点 | 公司会议室 | | | | 上市公司接待人 员姓名 | | 董事会秘书陈伟、证券事务代表陈梦璐 | | | 投资者关系活动 | | 调研行业和公司情况（以调研机构提问 ...

Financial Performance - The company's revenue for Q3 2022 was ¥508,046,848.03, representing a 42.05% increase year-over-year[5]. - The net profit attributable to shareholders was -¥62,337,080.67, a decrease of 661.69% compared to the same period last year[5]. - The net profit excluding non-recurring gains and losses was -¥63,748,280.45, an increase of 228.13% year-over-year[5]. - The company reported a net loss of ¥34,392,751.35, compared to a loss of ¥22,014,000.00 in the previous period, indicating ongoing financial challenges[19]. - The net profit for the third quarter of 2022 was -46,606,354.40 CNY, compared to a net profit of 28,186,874.42 CNY in the same period last year, indicating a significant decline[21]. - Operating profit for the third quarter was -14,648,887.07 CNY, an improvement from -46,601,011.11 CNY in the previous year[21]. - The total comprehensive income attributable to the parent company was -34,392,951.09 CNY, compared to 29,829,901.52 CNY in the same period last year[21]. - The company reported a significant increase in credit impairment losses, reaching CNY 49.03 million, a 160.23% increase, primarily due to the recovery of accounts receivable[9]. Assets and Liabilities - Total assets at the end of the reporting period were ¥8,913,803,741.33, a 0.37% increase from the end of the previous year[5]. - Total current assets decreased to ¥3,870,706,319.43 from ¥4,316,241,316.30 at the start of the year, showing a reduction in asset base[16]. - Total liabilities decreased to ¥4,271,987,514.20 from ¥5,161,250,893.62, indicating a reduction in financial obligations[17]. - The company’s long-term receivables increased to ¥3,692,098,248.22 from ¥3,462,957,658.29, suggesting growth in financing activities[16]. - The company’s total assets increased slightly to ¥8,913,803,741.33 from ¥8,881,246,764.39, reflecting stability in asset management[17]. Cash Flow - Cash flow from operating activities was -¥195,079,232.69, showing a 196.97% increase in outflow year-to-date[5]. - Cash flow from operating activities showed a net outflow of CNY -195.08 million, a 196.97% increase in outflow compared to the previous period, mainly due to delayed payments for previous projects and losses from the subsidiary.[9]. - Cash flow from investing activities increased to CNY 975.48 million, a 362.73% increase, primarily due to the recovery of funds through irregular means.[9]. - Cash flow from financing activities recorded a net outflow of CNY -638.10 million, a 129.60% increase in outflow, mainly due to the repayment of overdue loans.[9]. - The cash flow from investment activities showed a net inflow of 975,483,200.32 CNY, compared to 210,811,266.52 CNY in the same period last year, indicating a substantial increase[23]. - The cash flow from financing activities resulted in a net outflow of -638,096,283.66 CNY, compared to -277,911,065.80 CNY in the previous year[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,296, with no preferred shareholders with restored voting rights.[11]. - The top shareholder, Hangzhou Guangyao Zhixin Zhongyang Equity Investment Partnership, holds 14.85% of shares, totaling 169,902,912 shares.[11]. Expenses - The company’s sales expenses surged by 11,909.80% to ¥551.25 million, primarily due to the consolidation of Shanghai Qinnian Design[8]. - R&D expenses increased to CNY 35.66 million, a 359.44% increase compared to the previous period, primarily due to the consolidation of Shanghai Qinnian Engineering Design Co., Ltd.[9]. - Research and development expenses increased significantly to ¥35,663,041.84, compared to ¥7,762,197.98 in the same period last year, reflecting a focus on innovation[19]. - Other income rose to CNY 11.34 million, a 289.46% increase, mainly attributed to the consolidation of Shanghai Qinnian Engineering Design Co., Ltd.[9]. Corporate Governance - The change in controlling shareholder to Ningbo Shunong Group Co., Ltd. and the actual controller to the Yuyao State-owned Assets Management Office was completed in June 2022, marking a significant corporate governance shift[14].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,039,445,354.11, representing a 19.11% increase compared to CNY 872,647,472.76 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 27,944,129.58, a 49.18% increase from CNY 18,731,820.21 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was CNY 24,040,279.78, a significant turnaround from a loss of CNY 38,122,121.00 in the previous year, marking a 163.06% improvement[21]. - The basic earnings per share increased to CNY 0.0244, up 48.78% from CNY 0.0164 in the same period last year[21]. - The company's operating revenue for the reporting period was ¥1,039,445,354.11, representing a year-on-year increase of 19.11% compared to ¥872,647,472.76 in the previous year[48]. - The operating cost increased to ¥894,935,275.14, which is a 9.57% rise from ¥816,735,453.98 in the same period last year[48]. - Sales expenses surged by 7,419.49% to ¥3,451,805.14, primarily due to the consolidation of Shanghai Qinnian Design Company[48]. - Management expenses rose by 79.37% to ¥65,685,358.71, compared to ¥36,619,529.80 in the previous year[48]. - Financial expenses decreased by 25.07% to ¥38,752,030.70, down from ¥51,719,200.40 in the same period last year[48]. - The company reported a net profit of 1,874,775 yuan for Qianrui Construction Co., Ltd., with total assets of 233,637,100 yuan[89]. - The company reported a total revenue of 1,324,090,000 yuan for its subsidiary Shanghai Millennium, with a net profit of 50,500,830 yuan[89]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,045,714,749.46, reflecting a 1.85% increase from CNY 8,881,246,764.39 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company rose to CNY 4,548,448,339.97, a 27.15% increase from CNY 3,577,264,805.57 at the end of the previous year[21]. - The company has a short-term loan balance of 756.63 million yuan at the end of the reporting period[30]. - The total assets at the end of the reporting period were CNY 3,648,900,27, representing a 1.35% increase in the proportion of total assets compared to the previous year[56]. - The total liabilities decreased to CNY 4,338,364,449.76 from CNY 5,161,250,893.62, a reduction of about 15.9%[170]. - The company's total liabilities were reported at 1.8 billion yuan, which is a 4% increase from the previous year[194]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 36,084,842.17, a decline of 209.03% compared to CNY 33,095,722.06 in the same period last year[21]. - The cash flow from investment activities surged to CNY 991,709,754.99, a remarkable increase of 2,677.36% from CNY 35,706,896.69[49]. - The company's cash and cash equivalents increased by CNY 318,659,546.65, a significant change from a decrease of CNY -132,379,120.55 in the previous year[49]. - The total cash inflow from financing activities was 84,000,000.00 CNY, down from 623,720,000.00 CNY in the previous period, while cash outflow for financing activities was 554,371,808.66 CNY[188]. - The net increase in cash and cash equivalents for the period was 376,797,233.64 CNY, compared to a minimal increase of 1,648,056.52 CNY in the previous period[188]. Research and Development - Research and development expenses increased significantly to CNY 25,436,858.61, up 528.43% from CNY 4,047,695.15 in the previous year[49]. - The company has allocated 100 million yuan for research and development in new product lines, focusing on sustainable construction technologies[194]. - The company is initiating research and development for new technologies, aiming to innovate and stay competitive in the market[198]. Risk Management - The management has detailed the risks and countermeasures faced by the company in the report, which investors are advised to read carefully[4]. - The company is exposed to natural disaster risks, particularly in coastal areas prone to typhoons, which could affect project safety and progress[90]. - The company has established risk control mechanisms to address potential risks from economic fluctuations and market trends[90]. - The company plans to enhance risk management by clarifying responsibilities across departments and improving project cost control to reduce management risks[91]. Corporate Governance and Compliance - The company is committed to improving its governance and compliance practices in light of the recent regulatory scrutiny and changes in ownership structure[141]. - The company faced an administrative penalty from the China Securities Regulatory Commission due to violations of information disclosure regulations, with the final decision issued on February 10, 2022[141]. - The company has implemented corrective measures in response to regulatory actions taken by the Ningbo Securities Regulatory Bureau[123]. Shareholder Structure and Equity - The total number of shares decreased from 250,276,752 to 250,007,858, reflecting a reduction of 268,894 shares, which is a decrease of approximately 0.11%[145]. - The company’s total share capital is now 1,144,220,000 shares, with the restructuring investor acquiring a portion of the shares previously held by Weihai Holdings[146]. - The company reported a significant change in its shareholding structure, with the controlling shareholder changing from Weihai Holdings to Ningbo Shunong Group on June 17, 2022, following a court-approved restructuring plan[141]. - The company has a total of CNY 68 million in illegal guarantees, accounting for 20.25% of the total guarantees[115]. Market Expansion and Strategy - The company is focusing on expanding its market presence and enhancing its operational capabilities through strategic partnerships and technological advancements[142]. - The company plans to expand its market presence by investing in new technologies and product development, aiming for a 10% increase in market share by the end of 2023[194]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge in the construction industry[194].

Financial Performance - Operating revenue for the reporting period was CNY 554,539,845.64, a decrease of 20.51% year-on-year[11]. - Net profit attributable to shareholders was a loss of CNY 87,710,551.81, representing a decline of 282.62% year-on-year[11]. - Basic earnings per share were CNY -0.0766, a decrease of 282.38% year-on-year[11]. - The company's operating revenue for Q3 2020 was CNY 125,745.26 million, a decrease of 41.99% compared to CNY 216,782.70 million in the same period last year[20]. - The net profit for the third quarter was a loss of CNY 88,527,440.72, compared to a profit of CNY 53,774,385.39 in the same period last year, indicating a significant decline[71]. - The total profit for the current period is a loss of ¥128,935,739.85, compared to a profit of ¥138,178,721.39 in the previous period[79]. - The company reported a total revenue from sales and services of 1,618,319,800.66 CNY in Q3 2020, compared to 2,124,052,222.14 CNY in Q3 2019, reflecting a decline[86]. Asset and Liability Changes - Total assets decreased by 17.08% to CNY 8,227,088,075.76 compared to the end of the previous year[11]. - Total liabilities decreased to CNY 4,519,832,151.24 from CNY 5,664,431,490.37, a reduction of approximately 20.2%[63]. - The company's equity attributable to shareholders decreased to CNY 3,628,193,624.57 from CNY 4,050,498,104.13, a decline of about 10.4%[64]. - The company's receivables decreased by 42.15% to 138,735.42 million RMB due to the exclusion of Qianian Design from the consolidation scope[19]. - The company's fixed assets decreased by 64.22% to 11,932.01 million RMB, primarily due to the exclusion of Qianian Design from the consolidation scope[19]. - The company's total liabilities included a significant increase in interest payable, which rose by 658.63% to CNY 1,580.52 million due to overdue interest from a bank[20]. Cash Flow and Financial Management - Net cash flow from operating activities increased by 829.91% to CNY 136,867,572.37 compared to the same period last year[11]. - The net cash flow from operating activities was CNY -2,883.85 million, an improvement of 85.70% compared to CNY -20,171.50 million in the previous year[21]. - The cash inflow from financing activities was 871,987,067.98 CNY, while cash outflow was 1,235,061,094.16 CNY, resulting in a net cash flow of -363,074,026.18 CNY[87]. - The company has used RMB 609.62 million of idle raised funds to temporarily supplement working capital, which has not yet been repaid[40]. - The company has a total of 10 million yuan in overdue amounts from entrusted financial management products[44]. Regulatory and Compliance Issues - The company is currently under regulatory scrutiny regarding potential fund occupation amounting to approximately CNY 5.02 billion[7]. - The company plans to hire a qualified intermediary to assess the compliance of its accounting treatment related to a CNY 6 billion deposit issue[7]. - The company is actively seeking solutions to address issues related to goodwill impairment testing due to the loss of control over Shanghai Qinnian[8]. - The company reported a preliminary amount of 502 million RMB suspected to be occupied by controlling shareholders and related parties through intermediaries[28]. - The company has established a self-inspection team to address the suspected fund occupation issues, indicating a proactive approach to governance[57]. Shareholder and Ownership Information - Total number of common shareholders at the end of the reporting period is 15,469[15]. - Zhejiang Weihai Holding Group Co., Ltd. holds 43.06% of shares, totaling 492,697,204 shares, with 190,597,204 shares pledged and frozen[15]. - The company has not conducted any repurchase transactions among the top ten shareholders during the reporting period[16]. - The top ten unrestricted shareholders include Zhejiang Weihai Holding Group Co., Ltd. with 302,100,000 shares[16]. Project and Investment Updates - The company signed a share transfer agreement for 85% of its 90% stake in the Ninghai County Eastern Flood Control PPP project for 17,044,221.64 RMB[29]. - The company transferred 15% of its stake in Langxi Langchuan Water Environment Governance Co., Ltd. for 27 million RMB[29]. - The Fenghua Xiangshan Port project is expected to reach a usable state by January 31, 2021, but has not yet generated benefits[36]. - The TianTai Cangnan Industrial Cluster Area Phase I PPP project is expected to be completed by September 30, 2021, but has not yet generated benefits due to delays[39]. Research and Development - The company’s research and development expenses decreased by 61.42% to CNY 1,147.72 million, primarily due to the exclusion of Jiangsu Weihai from the consolidation scope[20]. - Research and development expenses for the quarter were CNY 7,046,443.50, down from CNY 11,441,450.83, a decrease of approximately 38.3%[74]. - The company's research and development expenses for the current period are ¥10,432,117.01, significantly higher than ¥58,252.43 in the previous period[81].

Financial Performance - The company's operating revenue for 2020 was ¥2,150,644,279.16, a decrease of 37.44% compared to ¥3,437,604,134.27 in 2019[18] - The net profit attributable to shareholders was -¥410,349,054.90, an improvement of 63.07% from -¥1,111,243,515.98 in the previous year[18] - The basic earnings per share for 2020 was -¥0.3586, which is a 63.08% improvement from -¥0.9712 in 2019[19] - The company reported a net profit excluding non-recurring gains and losses of -¥140,792,426.41, a 54.51% improvement from -¥309,468,347.04 in 2019[18] - The weighted average return on net assets was -13.18%, an improvement from -23.79% in the previous year[19] - Total assets at the end of 2020 were ¥8,242,208,932.64, down 16.93% from ¥9,922,144,587.06 at the end of 2019[19] - The net assets attributable to shareholders decreased by 17.53% to ¥3,340,307,399.68 from ¥4,050,498,104.13 in 2019[19] - The company achieved an operating revenue of CNY 1.975 billion, with a net profit attributable to shareholders of CNY -272 million[50] - Revenue from construction services accounted for 90.80% of total revenue, totaling ¥1,952,829,352.49, down 26.59% year-over-year[53] - The revenue from design and technical services dropped significantly by 74.78%, from ¥771,082,975.16 in 2019 to ¥194,485,068.01 in 2020[53] Cash Flow and Investments - The net cash flow from operating activities was ¥7,892,488.16, a significant recovery from -¥72,923,536.12 in 2019[18] - The net cash flow from operating activities turned positive in Q3 2020, reaching approximately ¥136.87 million, but fell to ¥36.73 million in Q4 2020[24] - Investment cash inflow dropped by 51.42% to ¥982,982,271.35, while investment cash outflow decreased by 9.54% to ¥1,035,693,767.63[72] - Financing cash inflow decreased by 37.66% to ¥1,263,420,280.09, and financing cash outflow decreased by 49.55% to ¥1,651,008,266.94[72] - Cash and cash equivalents at the end of 2020 amounted to ¥385,949,788, representing 4.68% of total assets, a decrease of 4.02% from the beginning of the year[77] Operational Challenges - The company has faced significant operational risks and has outlined measures to address these in its future outlook[5] - The company faced significant non-recurring losses, totaling approximately ¥269.56 million in 2020, primarily due to litigation and other non-operational factors[26] - The company has faced delays in project timelines due to COVID-19 and adverse weather conditions, impacting the overall project completion schedules[119] - The company is undergoing bankruptcy reorganization to improve its financial structure and attract strategic investors[50] Legal and Compliance Issues - The company has been actively involved in resolving legal disputes that have impacted its financial operations and liquidity[110][114] - The company was ordered to pay a total of 22,389,221 yuan plus interest to Wang Chongliang due to an arbitration ruling[111] - The company faced a lawsuit from Rui'an Prosperity Concrete Co., Ltd. for 3,579,689.90 yuan, leading to a freeze on funds of the same amount[114] - The company has been implicated in a credit dispute involving a letter of credit, with a court ruling requiring repayment of the credit advance[190] - The company received a public reprimand from the Shenzhen Stock Exchange due to the inability to express an opinion on the audit report and violations in the use of raised funds[185] Strategic Initiatives - The company aims to leverage its expertise in ecological coastal engineering and river management to maintain a competitive edge in the market[30] - The company is actively pursuing differentiated competition strategies to enhance its market position against state-owned enterprises and large competitors[30] - The company plans to focus on restructuring and optimizing its business operations following the significant revenue decline due to external factors[61] - The company plans to maintain transparency and accuracy in disclosing information related to transactions and commitments[146] Research and Development - The company has completed the application for 21 patents, including 11 invention patents and 10 utility model patents, with 9 patents granted[49] - The company has developed over 30 advanced technologies in various fields, establishing a core technological advantage[45] - Research and development expenses decreased by 14.76% to ¥32,625,346.37 compared to the previous year[68] - The company reduced its R&D personnel by 51.04% to 118, while the R&D investment amounted to ¥22,270,959.24, a decrease of 41.81%[70] Shareholder and Dividend Policies - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company has not proposed any cash dividend distribution or capital reserve transfer for the reporting period[143] - The cash dividend payout ratio for 2018 was 67.86% of the net profit attributable to shareholders, while the ratios for 2019 and 2020 were 0.00% due to negative profits[142] - The cumulative undistributed profits at the end of 2019 were -RMB 121,801.56 million, and at the end of 2020 were -RMB 100,139.57 million[141] Asset Management - The company reported a significant decrease in investment properties, which fell to ¥9,689,950.55, down from ¥65,832,414.94, a change attributed to the exclusion of a subsidiary from consolidation[77] - The total amount of restricted assets reached ¥2,277,181,180.82, with various reasons including litigation freezes and collateral for loans[81] - The company has recognized a 100% impairment provision for receivables amounting to RMB 100 million due to the deteriorating financial condition of the guaranteed parties[155] Future Outlook - The company plans to strengthen its core business in large infrastructure projects, leveraging its competitive advantages in qualifications, performance, and technology[135] - The company intends to enhance cash flow stability by improving accounts receivable collection and exploring new financing channels[135] - The company will continue to invest in research and innovation, focusing on areas such as soil and water conservation and ecological restoration[135]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥872,647,472.76, representing a 24.15% increase compared to ¥702,912,804.09 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥18,731,820.21, a significant turnaround from a loss of ¥35,399,316.37 in the previous year, marking a 152.92% improvement[20]. - The net cash flow from operating activities was ¥33,095,722.06, compared to a negative cash flow of ¥165,706,101.62 in the same period last year, indicating a 119.97% increase[20]. - The basic earnings per share increased to ¥0.0164 from a loss of ¥0.0309, reflecting a 153.07% improvement[20]. - The company's revenue for the reporting period exceeded 872 million yuan, representing a year-on-year growth of 42.83%[31]. - The net profit attributable to shareholders, after deducting non-recurring gains and losses, was -38.12 million yuan, a decrease of 65.21% compared to the previous year[31]. - The company reported a total revenue of 13,720 million CNY for the first half of 2021, reflecting a significant increase compared to the previous period[138]. - The net profit for the first half of 2021 was CNY 16,971,952.05, a significant recovery from a net loss of CNY 37,284,092.65 in the first half of 2020[182]. - The total profit for the first half of 2021 was CNY 32,176,073.24, compared to CNY 7,695,189.58 in the previous year, marking an increase of approximately 318%[186]. Assets and Liabilities - Total assets decreased by 7.44% to ¥7,628,761,598.73 from ¥8,242,208,932.64 at the end of the previous year[20]. - Cash and cash equivalents at the end of the reporting period amounted to ¥245,376,848.46, representing 3.22% of total assets, a decrease of 1.47% compared to the previous year[49]. - Accounts receivable totaled ¥1,404,363,081.92, accounting for 18.41% of total assets, down by 1.01% from the previous year[49]. - Long-term receivables increased to ¥3,058,545,501.37, making up 40.09% of total assets, an increase of 2.24% year-over-year[49]. - The company reported a total liability of 72,322.37 million RMB, representing a 21.92% increase compared to the previous period[88]. - The company's total liabilities decreased to CNY 3,942,134,708.31 from CNY 4,057,600,289.43, reflecting a reduction of approximately 2.8%[179]. Cash Flow - The net cash flow from operating activities improved to ¥33,095,722.06, a significant recovery from a negative cash flow of ¥165,706,101.62 in the previous year[41]. - The net cash flow from investing activities decreased by 80.78% to ¥35,706,896.69 from ¥185,755,105.62, primarily due to reduced investment project financing following special treatment of the company’s guarantees[41]. - The net cash flow from financing activities improved by 37.83% to -¥201,181,739.30 from -¥323,618,426.63, reflecting a decrease in the scale of financing due to special treatment[41]. - Cash flow from operating activities generated a net inflow of CNY 33,095,722.06, a recovery from a net outflow of CNY -165,706,101.62 in the first half of 2020[190]. - The ending balance of cash and cash equivalents was CNY 185,892,720.96, down from CNY 447,109,413.85 at the end of the first half of 2020, reflecting a decrease of about 58%[191]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has transitioned its business model from general contracting to engineering general contracting, expanding into investment, design, and operation[30]. - The company is focused on introducing strategic investors to resolve issues related to the controlling shareholder's bankruptcy restructuring[31]. - The company aims to introduce strategic investors to resolve issues related to guarantees and fund occupation, potentially leading to a brighter future[64]. - The company is committed to resolving legal disputes related to guarantees and fund occupation to minimize losses and unfreeze bank accounts[65]. Risks and Compliance - The company has detailed the risks it may face and corresponding countermeasures in the management discussion and analysis section of the report[5]. - The company faces risks related to safety in production and potential delays in project payments, which could impact financial performance[61]. - The company has been under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws since July 2019, with potential risks of administrative penalties and delisting[63]. - The company plans to strengthen internal control management and improve compliance processes to enhance governance and risk management[64]. - The company is actively monitoring related party transactions to prevent fund occupation by controlling shareholders[101]. Legal Matters - The company is currently involved in legal proceedings related to multiple illegal guarantee cases, with varying amounts and outcomes[88][89]. - The company has taken measures to address illegal guarantees, including litigation against Chang'an Bank for 600 million RMB in guarantees, with ongoing legal proceedings[88]. - The company is facing significant financial liabilities due to ongoing legal disputes and overdue loans, impacting its operational stability[108]. - The company has been involved in several legal disputes regarding loan defaults, with judgments requiring repayment of significant amounts, including a case involving a loan of 2.8 million yuan[113]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,387[157]. - Zhejiang Weihai Holdings Group Co., Ltd. holds 43.06% of the shares, amounting to 492,677,204 shares[158]. - The top ten shareholders include Zhejiang Weihai Holdings Group Co., Ltd. with 302,080,000 shares and Zhejiang Dongrui Asset Management Co., Ltd. with 41,296,060 shares[159]. - The company has a significant number of pledged shares, with various shareholders having pledged their holdings[158]. - The company’s management and supervisors have a lock-up period for their shares, with a maximum transfer limit of 25% during their tenure[155].

Financial Performance - The company's operating revenue for Q1 2020 was ¥284,061,220.62, a decrease of 60.49% compared to ¥718,978,935.01 in the same period last year[7]. - The net profit attributable to shareholders was a loss of ¥22,384,517.77, representing a decline of 176.12% from a profit of ¥29,407,325.13 in the previous year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥30,073,669.39, a decrease of 255.94% compared to a profit of ¥19,284,926.72 last year[7]. - The basic and diluted earnings per share were both -¥0.0196, down 176.26% from ¥0.0257 in the same period last year[7]. - The weighted average return on net assets was -0.56%, a decrease of 1.11% from 0.55% in the previous year[7]. - The company reported a net loss of CNY 630,040,581.31 in retained earnings, compared to a loss of CNY 566,823,199.94 in the previous period[53]. - The total profit for Q1 2020 was a loss of CNY 21,555,250.27, compared to a profit of CNY 44,341,113.07 in Q1 2019, reflecting a significant downturn[61]. Assets and Liabilities - Total assets at the end of the reporting period were ¥9,112,813,020.10, down 8.16% from ¥9,922,144,587.06 at the end of the previous year[7]. - The net assets attributable to shareholders at the end of the reporting period were ¥3,970,280,239.59, a decrease of 1.98% from ¥4,050,498,104.13 at the end of the previous year[7]. - Total liabilities decreased from CNY 5,664,431,490.37 to CNY 4,945,450,350.05, a reduction of about 12.66%[52]. - The company's total liabilities to equity ratio is approximately 1.33, suggesting a moderate level of financial leverage[77]. - The company reported a total of ¥109.34 million in liabilities, with a debt ratio of 27.71%[42]. Cash Flow - The net cash flow from operating activities was -¥176,829,472.10, compared to -¥200,005,231.96 in the same period last year[7]. - The net cash flow from operating activities was -142,503,208.10 CNY, compared to -200,005,231.96 CNY in the previous period, indicating an improvement[69]. - The total cash inflow from operating activities was 1,185,152,899.75 CNY, compared to 814,592,127.82 CNY in the previous period, showing a strong increase[72]. - The net cash flow from investment activities was 278,973,615.54 CNY, a significant recovery from -190,444,958.34 CNY in the previous period[70]. Shareholder Information - The largest shareholder, Zhejiang Weihai Holding Group Co., Ltd., holds 43.06% of the shares, with a total of 492,697,204 shares[15]. - The second largest shareholder, Shanghai Millennium Engineering Investment Management Co., Ltd., holds 5.18% of the shares, totaling 59,301,557 shares[15]. - The total number of ordinary shareholders at the end of the reporting period was 18,355[14]. Strategic Initiatives - The company plans to acquire 88.22975% of the equity of Shanghai Millennium Planning and Design Co., Ltd. as part of its strategic expansion[23]. - The company is focused on strategic acquisitions to enhance its market position and expand its business operations[25]. - The company has committed to strict compliance with its promises made during the asset restructuring process[23]. Compliance and Governance - The company has committed to strict adherence to its previous promises made during its initial public offering and subsequent financing activities[28]. - The company will comply with relevant laws and regulations and disclose information related to the transaction in a timely manner[26]. - The company aims to maintain transparency and integrity in its financial reporting and disclosures[24]. Operational Challenges - The company disclosed several important announcements regarding frozen bank accounts and ongoing investigations in January and March 2020[20][21]. - The company has engaged in negotiations to resolve issues related to the return of borrowed funds[43]. - The company is actively negotiating to resolve legal disputes related to its debt obligations[38]. Other Financial Metrics - The company reported investment losses of CNY 3,488,372.84 in Q1 2020, contrasting with investment gains of CNY 10,692,685.27 in the same period last year[60]. - Research and development expenses increased to CNY 13,826,390.67 in Q1 2020 from CNY 12,020,937.79 in the same period last year, marking an increase of about 15.1%[60]. - The company has reported no securities investments during the reporting period[32].

Financial Violations and Governance - The company reported a violation of external guarantee procedures amounting to 718 million yuan as of December 31, 2019, with 60 million yuan related to guarantees for subsidiaries[5]. - The company identified non-operating fund occupation by the controlling shareholder totaling 176.5 million yuan before December 31, 2018, which has since been recovered[7]. - The company received an audit report with a disclaimer of opinion from its accounting firm, indicating significant uncertainties in its financial reporting[4]. - The company plans to implement measures to improve internal controls and governance structures to prevent future violations and ensure compliance with financial regulations[8]. - The company has committed to taking legal action to protect shareholder interests regarding the identified violations[6]. - The company has acknowledged the need for improved management of its seal usage and documentation processes to prevent unauthorized use[8]. - The company is actively cooperating with regulatory authorities regarding an investigation into the alleged fund occupation by the controlling shareholder, with most of the identified issues dating back to 2018[156]. - The independent auditor issued a disclaimer of opinion on the 2019 financial report due to insufficient audit evidence, prompting the board to outline specific measures to address the uncertainties[157]. - The company has faced penalties for failing to disclose information regarding guarantees provided to controlling shareholders, resulting in public reprimands[187]. - The company has been criticized for not following approval procedures for guarantees provided to controlling shareholders, leading to regulatory scrutiny[188]. Financial Performance - The company's operating revenue for 2019 was approximately ¥3.44 billion, a decrease of 2.89% compared to ¥3.54 billion in 2018[23]. - The net profit attributable to shareholders for 2019 was approximately -¥1.11 billion, representing a decline of 539.39% from ¥252.91 million in 2018[23]. - The net cash flow from operating activities for 2019 was approximately -¥72.92 million, a decrease of 199.16% compared to ¥73.54 million in 2018[23]. - The basic earnings per share for 2019 was -¥0.97, a decline of 521.74% from ¥0.23 in 2018[23]. - The total assets at the end of 2019 were approximately ¥9.92 billion, a decrease of 10.80% from ¥11.12 billion at the end of 2018[24]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥4.05 billion, a decrease of 24.26% from ¥5.35 billion at the end of 2018[24]. - The weighted average return on net assets for 2019 was -23.79%, a decline of 28.98% from 5.19% in 2018[24]. - The company reported a total revenue of 16,475,000,000.00 CNY for the year, with a net loss of 46,495,000.00 CNY[89]. - The company reported a significant loss of 141,957,645 in the engineering development segment for the year[126]. Cash Flow and Investments - The net cash flow from operating activities has declined, with accounts receivable growth outpacing revenue growth, indicating potential liquidity issues[156]. - The company recorded a significant difference between net cash flow from operating activities and net profit due to large goodwill impairment provisions and violations of guarantees[75]. - The company has ongoing investments in various projects, with a total investment amount of 10,850,000,000.00 CNY and a 38% ownership stake in the Ningbo South Economic Development Zone project[88]. - The company reported a total of 490,000,000.00 CNY in purchases during the reporting period, with a cumulative investment income of 32,232,984.00 CNY[91]. - The company has made significant non-equity investments, with a total of 806,550,000.00 CNY in various asset categories, including a loss of 1,800,000.00 CNY in fair value changes[91]. - The company has established dedicated accounts for managing raised funds, ensuring compliance with regulatory requirements[96]. - The company has committed to strengthening internal control systems to address the non-operating fund occupation issues and ensure timely repayment[152]. Shareholder and Dividend Policies - The company will not distribute cash dividends, issue bonus shares, or convert reserves into share capital for the year[10]. - The company has proposed no profit distribution or capital reserve transfer for the year 2019, pending shareholder approval[139]. - The cash dividend payout ratio for 2018 was 67.86% of the net profit attributable to shareholders[140]. - The cash dividend payout ratio for 2017 was 24.42% of the net profit attributable to shareholders[140]. - The company has established a three-year shareholder return plan (2018-2020) to enhance transparency and shareholder engagement in profit distribution decisions[137]. Legal and Regulatory Issues - The company is currently involved in multiple lawsuits, with a total amount in dispute of approximately 12,502.67 million CNY related to a loan dispute[183]. - The company is also facing a lawsuit regarding environmental pollution with a claim amount of 2.20 million CNY, which is still under trial[183]. - Another lawsuit involves a claim of 680 million CNY related to a private loan dispute, currently in the appeals process[183]. - The company has a contract dispute with a claim amount of 1,861 million CNY, which is still under trial[184]. - The company has been under investigation by the China Securities Regulatory Commission for potential violations related to information disclosure[187]. Operational Strategies and Future Outlook - The company plans to focus on major infrastructure projects, with an emphasis on water conservancy and ecological engineering, as part of the national strategy to boost investment in traditional infrastructure[127]. - The company aims to stabilize its operations by optimizing its business structure and introducing strategic investors to improve financial health[128]. - The company intends to strengthen internal controls and improve management efficiency to mitigate risks associated with its operations[131]. - The company is actively seeking to divest low-efficiency subsidiaries while retaining profitable projects to enhance overall performance[129]. - The company plans to leverage partnerships with professional institutions to facilitate strategic investments and improve operational stability[129]. Internal Controls and Risk Management - The company plans to enhance its internal audit functions to monitor key operational and financial processes more effectively[8]. - The company is focused on enhancing internal control systems to prevent future occurrences of similar issues as part of its strategic response to regulatory scrutiny[156]. - The company will focus on risk management strategies to address potential challenges, including financial and operational risks[132]. - The company has engaged in multiple institutional communications to discuss its operational status and industry trends[134].

Financial Performance - The company's operating revenue for Q1 2021 was ¥438,826,991.47, representing a 149.96% increase compared to ¥175,561,201.76 in the same period last year[7]. - The net profit attributable to shareholders was a loss of ¥11,867,702.24, which is a 211.97% decline from a loss of ¥3,804,145.90 in the previous year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,074,126.22, compared to a loss of ¥11,493,297.52 in the same period last year, marking a 161.55% improvement[7]. - The net cash flow from operating activities was a negative ¥165,226,583.77, which is a 15.95% increase in losses compared to a negative ¥142,503,208.10 last year[7]. - The basic and diluted earnings per share were both -¥0.0104, reflecting a 303.03% increase in losses compared to -¥0.0033 in the same period last year[7]. - The weighted average return on net assets was -0.36%, a decrease of 0.26% from -0.10% in the previous year[7]. - The company reported a net loss of CNY 1.27 billion in retained earnings, slightly worsening from a loss of CNY 1.26 billion[53]. - The total comprehensive loss for the quarter was CNY 12,159,759.74, compared to a loss of CNY 23,825,651.38 in the same period last year[62]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,565,106,213.40, down 8.22% from ¥8,242,208,932.64 at the end of the previous year[7]. - The net assets attributable to shareholders at the end of the reporting period were ¥3,326,772,661.46, a slight decrease of 0.41% from ¥3,340,307,399.68 at the end of the previous year[7]. - Total current assets amounted to ¥2.84 billion, down from ¥3.33 billion, indicating a decrease of approximately 14.8%[49]. - Current liabilities totaled CNY 3.45 billion, a decrease of approximately 16.59% from CNY 4.13 billion[52]. - The company's total liabilities decreased to CNY 4.18 billion from CNY 4.84 billion, representing a decline of about 13.66%[52]. - The equity attributable to shareholders of the parent company was CNY 3.33 billion, slightly down from CNY 3.34 billion[53]. Cash Flow - Cash and cash equivalents decreased to CNY 68.75 million from CNY 80.58 million, a decline of approximately 14.66%[54]. - Cash inflow from financing activities was CNY 376,870,000.00, an increase from CNY 220,900,000.00, marking a growth of approximately 70.7%[70]. - Cash outflow from investing activities was CNY 186,697,307.79, a decrease from CNY 417,390,279.65, reflecting a reduction of about 55.3%[69]. - The company recorded a net cash flow from investing activities of CNY -91,204,082.18, slightly improved from CNY -101,163,613.38 in the previous period, indicating a reduction in cash outflow of about 9.5%[73]. - Total cash inflow from operating activities was CNY 933,740,610.75, down from CNY 1,185,152,899.75, reflecting a decrease of about 21.1%[71]. Investments and Projects - The company plans to acquire 88.22975% equity in Ningbo Free Trade Zone Dongqian Weihai Planning Engineering Investment Partnership through a combination of issuing shares and cash payment[22]. - The project "Fenghua Xiangshan Port Shelter Anchorage Construction Project" has an investment commitment of RMB 45,000 million, with 97.64% of the project completed as of January 31, 2021[31]. - The "Zhoushan Liu Heng Xiao Guo Ju Phase II" project has an investment commitment of RMB 15,000 million, with 101.68% of the project completed by December 31, 2020[31]. - The Tian Tai County Cangnan Industrial Cluster Phase I PPP project has an investment total of CNY 37 million, with CNY 34.85 million invested, achieving a progress rate of 94.19%[35]. - The Ningbo Hangzhou Bay New Area project has an adjusted investment total of CNY 210 million, with CNY 107.57 million invested, achieving a progress rate of 51.23%[35]. Shareholder and Governance Commitments - The company has committed to strictly adhere to the promises made during the asset restructuring process, ensuring compliance with relevant laws and regulations[23]. - The company will not transfer more than 25% of its shares during the lock-up period after the initial public offering, and will limit post-employment share transfers to 50% of their total holdings within twelve months[25]. - The company has made commitments to avoid conflicts of interest and ensure that no benefits are improperly transferred to other entities or individuals[25]. - The company will ensure that all information provided during transactions is truthful and complete, avoiding any misleading statements or omissions[24]. - The company has undertaken to bear full compensation responsibility for any losses caused to third parties due to violations of the commitments made[24]. Non-Operating Funds and Legal Matters - The company reported a total of ¥72.32 billion in non-operating funds occupied by controlling shareholders and related parties, accounting for 22.01% of the latest audited net assets[44]. - The company is actively pursuing legal actions to protect its rights regarding the occupied funds and has reported these issues to the bankruptcy administrator of the controlling shareholder[44]. - The total amount of non-operating funds occupied at the end of the period was ¥80.98 million, which accounted for 24.64% of the most recent audited net assets[44]. - The company has not reported any new non-operating fund occupation cases from major shareholders and their subsidiaries during the reporting period[44].