Financial Performance - The company's operating revenue for 2021 was CNY 2,580,729,389, representing a 20% increase compared to CNY 2,150,644,279 in 2020[20] - The net loss attributable to shareholders was CNY -27,375,028, a 93.33% improvement from a loss of CNY -410,349,054 in 2020[20] - The net cash flow from operating activities was CNY 100,203,772, showing a significant increase of 1,169.61% compared to CNY -72,923,536 in 2020[20] - The company's total revenue for 2020 was adjusted from CNY 1,975,083,077.40 to CNY 2,150,644,279.16, reflecting an increase of approximately 8.8%[30] - The company's total operating costs were adjusted from CNY 1,838,635,129.43 to CNY 1,989,096,927.15, indicating an increase of about 8.2%[30] - The company reported a total of CNY 99,328,932.13 in non-recurring gains and losses for 2021, compared to CNY -132,171,696.17 in 2020[37] - The company reported a total revenue of 2,302.50 million in 2021, with a significant increase compared to 2020[171] - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 15% year-over-year growth[178] Assets and Liabilities - Total assets at the end of 2021 were CNY 8,881,246,764, a 7.75% increase from CNY 8,242,208,932 at the end of 2020[21] - The net assets attributable to shareholders increased by 7.09% to CNY 3,577,264,805 from CNY 3,340,307,399 in 2020[21] - The company's short-term loan balance at the end of the reporting period was ¥1,182.80 million[51] - The company has a total of ¥2,597,915,168.71 in restricted assets due to various pledges and legal issues[94] - The company reported a significant increase in long-term receivables, which reached ¥3,462,957,658, accounting for 38.99% of total assets, up from 37.83% at the beginning of the year[92] Operational Highlights - The construction segment accounted for ¥2,548,941,181.28, or 98.77% of total revenue, with a year-on-year growth of 30.53%[68] - The company is recognized as a leading player in the domestic market for coastal engineering and water conservancy construction[42] - The company has implemented over 500 construction projects with a project qualification rate of 100% and over 85% of projects recognized as excellent[46] - The company has established a strong research and development team, continuously innovating construction processes to improve efficiency and reduce costs[44] - The company is actively expanding its market presence beyond Zhejiang, having gained a certain market share in provinces such as Anhui and Jiangxi[46] Risk Management - The company has identified potential risks in its operations and outlined corresponding mitigation strategies in the management discussion section[5] - The company recognized a goodwill impairment of CNY 206,540,747.86, which was included in the unappropriated profits at the beginning of the year[26] - The company identified natural disaster risks, particularly from typhoons affecting operations in coastal areas[157] - The company acknowledged construction safety risks due to the nature of its projects, which often involve complex outdoor and water-based work[157] Governance and Compliance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring a transparent decision-making process involving the board of directors and shareholders[161] - The board consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements for board composition[162] - The company has established a financial independence with a dedicated finance department and independent financial decision-making capabilities[166] - The company has implemented a robust internal control system to enhance governance and operational efficiency[161] - The company has made significant efforts to enhance information disclosure to safeguard minority shareholders' rights[193] Research and Development - R&D investment amounted to ¥22,402,936.65 in 2021, a slight increase of 0.59% from ¥22,270,959.24 in 2020[84] - The proportion of R&D investment to operating revenue decreased to 0.87% in 2021 from 1.04% in 2020, a decline of 0.17%[84] - The company is focusing on developing new technologies and processes to enhance its core competitiveness in various projects, including sludge resource utilization and complex geological seepage walls[80][82] - Investment in R&D has increased by 25%, focusing on innovative construction technologies[178] Legal and Financial Issues - The company faced issues with overdue loans, including a CNY 60 million loan from Industrial and Commercial Bank of China, which was not fully repaid upon maturity[122] - The company faced arbitration and subsequent account deductions totaling CNY 22.59 million and CNY 0.33 million due to contractual disputes[129] - The company was ordered to pay RMB 62 million in remaining equity transfer payments to Dongqian Weihai, leading to the deduction of RMB 36.79 million from its bank account[145] - The company has a total of CNY 1,000,000,000 in committed investment projects, with CNY 302,930,880 invested to date, achieving an investment progress of 30.29%[134] Future Outlook - The company plans to focus on its core business and enhance operational performance by leveraging its qualifications, performance, and technology[155] - The company aims to improve asset efficiency by disposing of low-yield investments and enhancing management of subsidiaries[156] - The company intends to strengthen its credit and expand financing channels to support ongoing and new projects[156] - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[178] - A strategic acquisition of a local construction firm is anticipated to enhance operational capabilities and increase market share[178]

Financial Performance - The company's revenue for Q1 2022 was ¥172,125,894.22, a decrease of 60.78% compared to ¥438,826,991.47 in the same period last year[3] - The net profit attributable to shareholders was -¥18,320,045.15, representing a decline of 54.37% from -¥11,867,702.24 year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥24,839,527.21, a significant drop of 451.13% compared to ¥7,074,126.22 in the previous year[3] - Total operating revenue for Q1 2022 was CNY 172,125,894.22, a decrease of 60.8% compared to CNY 438,826,991.47 in the same period last year[21] - Net profit for Q1 2022 was a loss of CNY 18,267,276.38, compared to a loss of CNY 12,159,759.74 in Q1 2021[23] - The total comprehensive income attributable to the parent company was -18,320,045.15 CNY, compared to -11,867,702.24 CNY in the previous period, reflecting a significant decline[24] - Basic and diluted earnings per share were both -0.0160 CNY, compared to -0.0104 CNY in the previous period, indicating a worsening performance[24] Cash Flow and Assets - The net cash flow from operating activities was -¥111,016,610.06, an improvement of 32.81% from -¥165,226,583.77 in the same period last year[3] - The company reported a cash balance of ¥202,615,587.12 as of March 31, 2022, down from ¥303,170,970.62 at the beginning of the year[17] - Cash inflow from operating activities totaled 728,215,796.81 CNY, down from 793,341,759.85 CNY in the previous period, indicating a decrease of approximately 8.2%[26] - The cash outflow from operating activities was 839,232,406.87 CNY, compared to 958,568,343.62 CNY in the previous period, showing a reduction of about 12.4%[27] - The net cash flow from investing activities was 135,903,825.23 CNY, down from 206,480,201.10 CNY year-over-year, indicating a decrease of approximately 34.2%[27] - The cash inflow from financing activities was 99,000,000.00 CNY, significantly lower than 376,870,000.00 CNY in the previous period, reflecting a decline of about 73.7%[27] - The total cash and cash equivalents at the end of the period were 175,049,107.17 CNY, down from 203,820,662.05 CNY in the previous period[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,093,332,538.81, down 8.87% from ¥8,881,246,764.39 at the end of the previous year[3] - Total liabilities decreased to CNY 4,397,305,418.51 from CNY 5,161,250,893.62 year-on-year[19] - The company's total equity decreased to CNY 3,696,027,120.30 from CNY 3,719,995,870.77[20] - The equity attributable to shareholders decreased by 0.66% to ¥3,553,648,396.98 from ¥3,577,264,805.57 at the end of the previous year[3] Operational Impact - The company's operating income was significantly impacted by the COVID-19 pandemic, leading to a 60.78% decline in revenue[7] - The company reported a 3115.20% increase in sales expenses due to the consolidation of a significant subsidiary, Millennium Design Company[7] - The company experienced a 73.73% decrease in cash received from borrowings, reflecting a reduction in financing scale due to ST risk warnings[8] - The company incurred a total of 79,281,827.84 CNY in employee compensation, which increased from 43,726,317.78 CNY in the previous period, reflecting a rise of about 80.9%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,851[10] - Zhejiang Weihai Holding Group Co., Ltd. holds 43.06% of shares, totaling 492,677,204 shares, with 190,597,204 shares pledged and frozen[10] - The company has 302,080,000 unrestricted shares held by Zhejiang Weihai Holding Group Co., Ltd.[11] - The company has a total of 59,101,557 shares held by Shanghai Millennium Engineering Investment Management Co., Ltd., representing 5.17% of shares[10] Regulatory and Legal Issues - The company has received administrative penalties from the China Securities Regulatory Commission due to inconsistencies in financial reporting[12] - The company is facing lawsuits from investors regarding alleged false statements in disclosures[15] - The company is undergoing bankruptcy reorganization, with a plan approved by creditors on March 28, 2022[15] - The company has completed rectification work related to administrative regulatory measures imposed by the Ningbo Securities Regulatory Bureau[12] Miscellaneous - The company received government subsidies amounting to ¥6,520,874.95 during the reporting period[5] - The company is involved in a transaction to sell the rights to recover ¥856,386,842.06 of misappropriated funds, with 58.87% of this amount being acquired by Ningbo Shunong Group Co., Ltd.[14]

Financial Performance - The company's operating revenue for the reporting period was ¥702,912,804.09, a decrease of 52.19% compared to the same period last year [24]. - The net profit attributable to shareholders was -¥35,399,316.37, representing a decline of 189.54% year-on-year [24]. - The net cash flow from operating activities was -¥165,706,101.62, a decrease of 23.44% compared to the previous year [24]. - The total assets at the end of the reporting period were ¥8,109,670,467.51, down 14.07% from the end of the previous year [24]. - The company reported non-operating losses totaling -¥147,752,375.96, primarily due to unrelated business activities [29]. - The company's revenue for the first half of 2020 was approximately ¥702.91 million, a decrease of 52.19% compared to ¥1.47 billion in the same period last year [48]. - Operating costs decreased by 49.62% to ¥656.38 million from ¥1.30 billion, primarily due to reduced project engineering business volume [48]. - Research and development expenses dropped significantly by 75.80% to ¥4.43 million from ¥18.31 million, attributed to the impact of the pandemic [49]. - The construction segment accounted for 74.11% of total revenue, generating ¥520.95 million, down 51.04% from ¥1.06 billion [51]. - The design and technical services segment saw a revenue decline of 78.03%, contributing ¥181.01 million compared to ¥405.43 million previously [51]. Asset Management and Liabilities - The total assets at the end of the reporting period were approximately ¥8.82 billion, with cash and cash equivalents amounting to ¥617.26 million, a decrease of 4.79% from the previous year [57]. - Long-term receivables were reported at approximately ¥2.89 billion, representing 35.64% of total assets [58]. - The company has significant asset restrictions, with a total restricted asset value of approximately ¥1.20 billion due to various pledges and guarantees [61]. - The company has a total of 29 frozen bank accounts, with a cumulative frozen amount of approximately 139.93 million, accounting for 3.55% of its latest audited net assets [107]. - The total overdue bank loans and interest for Weihai Holdings and its actual controller Feng Quanhong amount to approximately 4.35 billion CNY, with multiple lawsuits filed against them for non-repayment [134]. Legal and Regulatory Issues - The company is facing regulatory scrutiny from the China Securities Regulatory Commission regarding its financial reporting practices [10]. - The company is actively following up on litigation matters to protect its interests amid uncertainties regarding the controlling shareholder's restructuring application [12]. - The company has engaged an accounting firm to assist in the self-examination of suspected fund occupation, with over 130 confirmation letters sent and more than 30 interviews conducted [9]. - The company is under investigation for potential false records and misleading statements, leading to a suspension of share transfers until the investigation concludes [116]. - The company has initiated legal proceedings against several parties regarding the guarantees and is actively pursuing legal remedies to protect its interests and those of minority shareholders [126]. Governance and Management - The company aims to strengthen its governance structure and focus on core business areas to ensure sustainable development amid challenges [46]. - The company is actively urging its controlling shareholder to resolve issues related to illegal guarantees and fund occupation, emphasizing the importance of protecting the rights of minority investors [109]. - The board has established a self-inspection team to address the suspected fund occupation issues, with over 130 confirmation letters sent and interviews conducted with more than 30 individuals [109]. - The company is committed to ensuring the authenticity and completeness of information related to its transactions, adhering to relevant laws and regulations [115]. - The company has communicated with involved banks and legal representatives to address the ongoing issues [109]. Strategic Initiatives - The company plans to hire a qualified intermediary to assess the compliance of accounting treatments related to goodwill impairment, which may significantly impact financial statements [10]. - The company plans to introduce strategic investors to stabilize operations and enhance management practices [46]. - The company is focused on maintaining transparency and accountability in its financial practices, particularly regarding potential violations and guarantees [119]. - The company is actively pursuing market expansion through strategic acquisitions and partnerships, as indicated by the planned asset restructuring [116]. - The company is exploring various measures to resolve issues related to the loss of control over Shanghai Qinnian and the associated financial implications [10]. Shareholder and Equity Information - The company has a total of 406,666,773 shares outstanding [195]. - The total number of ordinary shareholders at the end of the reporting period is 16,275 [196]. - Zhejiang Weihai Holdings Group Co., Ltd. holds 43.06% of the shares, totaling 492,697,204 shares [196]. - The company has a total of 190,597,204 restricted shares that remain locked due to unresolved guarantee issues [191]. - The company has not reported any major equity sales during the reporting period [100]. Risk Management - The company has identified several risks, including natural disaster risks and project operation cash flow risks, which could impact its performance [105]. - The company is actively working to improve risk management and enhance its funding capabilities to support business operations [108]. - The company has implemented measures to address the risk of being delisted due to audit opinions on its financial reports [106]. - The company is currently involved in numerous legal disputes related to overdue loans, highlighting potential liquidity issues [136]. - The company has reported a 50% provision for guarantee losses based on legal advice, reflecting a cautious approach to ongoing litigation [169].

Financial Performance - The company's operating revenue for the third quarter was ¥357,645,008.79, a decrease of 35.51% compared to the same period last year[2]. - Net profit attributable to shareholders was ¥11,098,081.31, an increase of 112.65% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥19,427,805.23, down 89.44%[2]. - The basic earnings per share for the third quarter was ¥0.0097, reflecting a year-on-year increase of 112.65%[2]. - Total operating revenue for the current period was CNY 1,230,292,481.55, a decrease of 2.0% compared to CNY 1,257,452,649.73 in the previous period[21]. - Net profit attributable to the parent company was CNY 29,829,901.52, compared to a net loss of CNY 123,109,868.18 in the previous period[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,601,588,516.39, a decrease of 7.77% from the end of the previous year[2]. - The company's total liabilities amounted to CNY 4,174,730,499.46, a decrease from CNY 4,842,384,995.33 in the previous period[22]. - The company's current assets decreased to RMB 2,808,260,508.29 from RMB 3,326,630,647.15, representing a reduction of about 15.6%[17]. - Short-term borrowings decreased to RMB 1,213,412,797.89 from RMB 1,346,905,544.95, a reduction of about 9.9%[18]. Cash Flow - The company reported a net cash flow from operating activities of -¥65,688,823.97 for the year-to-date, a decrease of 127.78%[2]. - The net cash flow from operating activities was negative at ¥65.69 million, worsening by 127.78% year-over-year, mainly due to increased revenue and intensified collection efforts on receivables[7]. - The net cash flow from investment activities was ¥210,811,266.52, a significant improvement compared to the previous year's negative cash flow of ¥49,282,430.85[27]. - The net cash flow from financing activities was -¥277,911,065.80, showing a decrease in cash flow compared to -¥363,074,026.18 in the previous year[27]. Equity and Shareholder Information - The company's total equity attributable to shareholders increased by 0.86% to ¥3,368,984,506.40 compared to the end of the previous year[2]. - The total number of ordinary shareholders at the end of the reporting period was 13,397, indicating a stable shareholder base[9]. Non-Recurring Gains and Losses - The total non-recurring gains and losses amounted to ¥30,525,886.54 for the third quarter, with significant contributions from government subsidies and the reversal of previously accrued losses[4]. - The company has no other non-recurring gains and losses beyond those reported in the financial statements[5]. Research and Development - Research and development expenses decreased by 32.37% to ¥7.76 million, attributed to the absence of expenses from a previous merger with Qianian Design[7]. - Research and development expenses for the current period were CNY 7,762,197.98, a decrease of 32.5% from CNY 11,477,150.45 in the previous period[22]. Investment Income - Investment income showed a substantial recovery, with a gain of ¥4.34 million compared to a loss of ¥6.93 million in the prior period, marking a 162.69% improvement[7]. - The company reported a significant increase in investment income, reaching CNY 4,342,600.76 compared to a loss of CNY -6,926,709.78 in the previous period[22]. Other Financial Information - The company experienced a significant reduction in other income, down 87.89% to ¥2.91 million, primarily due to decreased fiscal subsidies[7]. - The company has applied for financing of up to RMB 1.6 billion to address overdue debts, with no lawsuits or protective measures taken by banks as of the report date[13]. - The company has returned part of the overdue raised funds during the reporting period, but still faces challenges in fully repaying the remaining amounts[13]. - The company is undergoing a restructuring process involving its controlling shareholder and eight related companies, with the final restructuring investor yet to be determined[13]. - The company has reached a settlement agreement regarding a guarantee case, resulting in a payment of RMB 41.5 million to absolve all compensation liabilities[12]. Audit Status - The third quarter report was not audited, indicating that the figures presented are unaudited[29].

证券代码：002586 证券简称：*ST 围海 公告编号：2021-136 浙江省围海建设集团股份有限公司 关于参加"宁波辖区 2021 年度上市公司投资者网上 集体接待日主题活动"的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，无虚假 记载、误导性陈述或重大遗漏。 浙江省围海建设集团股份有限公司(以下简称"公司")为进一步加强与投资 者特别是中小投资者的沟通交流，增强公司的透明度，提升公司治理水平，促进 公司规范运作，公司将参加在宁波证监局指导下，由宁波上市公司协会联合深圳 市全景网络有限公司共同举办的"心系投资者 携手共行动"——宁波辖区 2021 年度上市公司投资者网上集体接待日主题活动。 活动于 2021 年 11 月 18 日下午 15:00-17:00 举行，平台登陆地址为： https://rs.p5w.net/。 届时，公司高管人员将参加本次活动，通过网络在线交流形式，就公司治理、 发展战略、经营状况等投资者所关心的问题，与投资者进行"一对多"形式的沟 通与交流。 欢迎广大投资者踊跃参与！ 特此公告 浙江省围海建设集团股份有限公司 董事会 二〇二一年十一月十一日 1 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥357,645,008.79, a decrease of 35.51% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2021 was ¥11,098,081.31, an increase of 112.65% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥19,427,805.23, a decrease of 89.44% compared to the same period last year[3]. - The company's basic earnings per share for Q3 2021 was ¥0.0097, an increase of 112.65% year-on-year[3]. - The net profit for the period was ¥28,186,874.42, a significant recovery from a net loss of ¥121,055,558.76 in the previous period[22]. - The net profit attributable to the parent company was ¥29,829,901.52, compared to a loss of ¥118,353,893.57 in the same period last year[23]. - The company reported a basic and diluted earnings per share of ¥0.0261, recovering from a loss of ¥0.1034 per share in the previous period[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,488,866,149.17, a decrease of 7.88% from the end of the previous year[3]. - Total liabilities decreased to ¥4,174,730,499.46 from ¥4,842,384,995.33[22]. - The company's current assets decreased to RMB 2.81 billion from RMB 3.33 billion, representing a decline of about 15.6%[17]. - The company's short-term borrowings were RMB 1.21 billion, down from RMB 1.35 billion, indicating a reduction of approximately 9.9%[18]. - Total liabilities decreased by 54.04% to CNY 719.61 million, primarily due to the settlement of the Gu Wenzhu guarantee case[8]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥65,688,823.97, a decrease of 127.78% compared to the same period last year[3]. - Cash flow from operating activities showed a net outflow of ¥65,688,823.97, worsening from a net outflow of ¥28,838,529.25 in the prior period[25]. - The net cash flow from investment activities was 210,811,266.52 CNY, a significant improvement compared to -49,282,430.85 CNY in the previous period[27]. - Cash inflow from financing activities totaled 1,038,300,000.00 CNY, up from 871,987,067.98 CNY in the previous period[27]. - The net cash flow from financing activities was -277,911,065.80 CNY, an improvement from -363,074,026.18 CNY in the previous period[27]. - The total cash and cash equivalents at the end of the period were 185,483,218.26 CNY, down from 309,483,850.20 CNY at the end of the previous period[27]. Shareholder Information - The company had a total of 13,397 common shareholders at the end of the reporting period[10]. - The largest shareholder, Zhejiang Weihai Holdings Group Co., Ltd., holds 43.06% of the shares, with 492,677,204 shares pledged and frozen[10]. Other Financial Metrics - The weighted average return on net assets was 0.34% for the reporting period, down from 2.74% in the previous year[3]. - The company experienced a significant increase in contract liabilities, which rose by 98.44% due to prepayments received for projects commenced during the period[7]. - The company reported a total of ¥30,525,886.54 in non-recurring gains and losses for the reporting period[5]. - Investment income turned positive at CNY 43.43 million, a turnaround of 162.69% from a loss in the previous period, attributed to the recognition of gains from the transfer of Agricultural Bank Fund and BT repurchase period income[8]. - Research and development expenses decreased by 38.89% to CNY 77.62 million, primarily due to the absence of consolidated expenses from Q1-Q3 of the previous year[8]. - The company reported a significant increase in other income, which rose by 777.88% to CNY 994.87 million, mainly due to the resolution of the Gu Wenzhu guarantee case[8]. Legal and Regulatory Issues - The company has been under investigation by the China Securities Regulatory Commission for alleged information disclosure violations since July 2019, with no conclusive findings reported yet[12]. - The company has applied for financing of up to RMB 1.6 billion to address overdue bank loans, with no lawsuits or protective measures taken by banks as of the report date[14]. - The company has returned part of the overdue raised funds during the reporting period, but still faces challenges in repaying the remaining amounts[14]. - The company is undergoing a restructuring process involving its controlling shareholder and eight related companies, with no final investment agreements established yet[15]. - The company has lost control over a significant subsidiary, Shanghai Qinnian, and is currently assessing its performance commitments[13].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥872,647,472.76, representing a 42.83% increase compared to ¥610,984,794.33 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 ¥30,643,341.76 in the previous year, marking a 161.13% 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, reflecting a 119.97% increase[20]. - The basic earnings per share increased to ¥0.0164 from a loss of ¥0.0268, representing a 161.19% improvement[20]. - The company reported a net profit attributable to shareholders, after deducting non-recurring gains and losses, was -38.12 million yuan, a decline of 108.10% compared to the previous year[31]. - The company reported a gross profit margin of approximately 6.7% for the first half of 2021, compared to a negative margin in the previous year[180]. - The total comprehensive income for the first half of 2021 was CNY 31,633,515.19, compared to CNY 2,729,988.11 in the same period of 2020[187]. Assets and Liabilities - Total assets decreased by 7.55% to ¥7,516,039,231.51 from ¥8,129,486,565.42 at the end of the previous year[20]. - The total liabilities decreased from ¥4,842,384,995.33 to ¥4,212,755,051.03, reflecting a decrease of approximately 13%[174]. - Cash and cash equivalents at the end of the reporting period amounted to ¥245,376,848.46, representing 3.26% of total assets, a decrease of 1.49% compared to the previous year[49]. - The company reported a total debt of 72,322.37 million RMB, representing 22.01% of its total liabilities[90]. - The total amount of non-operating fund occupation reached CNY 80,977.79 million, accounting for 24.64% of the most recent audited net assets[86]. Investment and Financing - The company has committed to providing accurate and complete information related to the acquisition transaction and will bear legal responsibilities for any violations[80]. - The company has a repayment plan for funds occupied by controlling shareholders and related parties, with specific amounts and timelines to be disclosed[84]. - The company has provided a financing guarantee of up to 1.65 billion yuan through its wholly-owned subsidiaries for the parent company[148]. - The company is focused on maintaining compliance with commitments made during its initial public offering and refinancing activities[82]. Risks and Challenges - The company faces risks related to safety production and project payment collection, which could impact operational performance[62]. - The company is facing liquidity risks due to the debt crisis of its controlling shareholder, leading to overdue bank loans and tight cash flow[63]. - The company has received a notice from the China Securities Regulatory Commission regarding an investigation into potential information disclosure violations, which could result in administrative penalties[63]. - The company is actively managing its legal and financial challenges, which may affect its future performance and market position[108]. Corporate Governance and Compliance - The company plans to strengthen internal control management and improve compliance processes to mitigate risks[65]. - The company has appointed new board members and management personnel to support its development needs[71]. - The company is committed to resolving legacy issues through legal means to protect the rights of shareholders and minimize losses[66]. - The company is actively pursuing legal actions to protect its rights in relation to the illegal guarantee cases involving Chang'an Bank and Guo Wenju[86]. Market Strategy and Development - The company has transitioned its business model from general contracting to engineering general contracting, enhancing its service offerings through EPC and PPP models[30]. - The company is focused on expanding its market presence beyond traditional regions into inland markets[34]. - The company plans to focus on market expansion and new technology development to enhance future growth prospects[180]. - The company is actively pursuing new product development initiatives to drive future growth and innovation[200].

Financial Performance - Revenue for the first quarter reached ¥438,826,991.47, an increase of 54.48% compared to ¥284,061,220.62 in the same period last year[8] - Net profit attributable to shareholders was a loss of ¥11,867,702.24, an improvement of 46.98% from a loss of ¥22,384,517.77 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥7,074,126.22, a significant turnaround from a loss of ¥29,052,546.69, representing a 124.35% increase[8] - The company's operating revenue for the current period reached 43,882.70 million, a 54.48% increase compared to 28,406.12 million in the same period last year, primarily due to the impact of COVID-19 in the previous year[17] - The net loss for the company in Q1 2021 was CNY 4.21 million, compared to a loss of CNY 3.65 million in Q1 2020[63] - The total profit for Q1 2021 was reported at a loss of CNY 9,797,857.54, which is an improvement from a loss of CNY 21,555,250.27 in the previous year[64] - The company's total comprehensive income for Q1 2021 was a loss of CNY 12,159,759.74, compared to a loss of CNY 23,825,651.38 in the same period last year[65] Cash Flow and Assets - The net cash flow from operating activities was negative at ¥165,226,583.77, worsening by 15.95% from a negative cash flow of ¥142,503,208.10 in the previous year[8] - The company's cash flow from operating activities for Q1 2021 was a net outflow of CNY 165,226,583.77, worsening from a net outflow of CNY 142,503,208.10 in the previous year[72] - Operating cash inflow for the first quarter was CNY 933,740,610.75, a decrease of 21.1% from CNY 1,185,152,899.75 in the previous year[75] - Net cash flow from operating activities was CNY 209,539,929.75, down 24.3% compared to CNY 276,627,688.83 in the same period last year[75] - The ending balance of cash and cash equivalents was CNY 11,842,934.08, down from CNY 55,344,364.19 in the previous year[76] - Total cash and cash equivalents decreased by CNY 1,562,212.26 during the quarter[76] Assets and Liabilities - Total assets decreased by 8.33% to ¥7,452,383,846.18 from ¥8,129,486,565.42 at the end of the previous year[8] - The company's total assets as of March 31, 2021, were CNY 6.94 billion, down from CNY 7.10 billion at the end of 2020[60] - Total liabilities decreased to CNY 4,836,470,310.51 from CNY 5,000,000,000, reflecting a reduction of about 3.3%[54] - The company's current assets decreased to CNY 2,836,470,310.51 from CNY 3,326,630,647.15, reflecting a reduction of about 14.8%[53] - The company's short-term borrowings were CNY 1,273,514,628.49, down from CNY 1,346,905,544.95, a decrease of approximately 5.4%[54] Shareholder Information - The company reported a total of 14,359 common shareholders at the end of the reporting period[12] - The largest shareholder, Zhejiang Weihai Holdings Group Co., Ltd., holds 43.06% of the shares, with 492,677,204 shares pledged and frozen[12] - The controlling shareholder, Zhejiang Weihai Holding Group, has made commitments to avoid competition that may harm the interests of the company and its shareholders[28] Investment Activities - Investment activity cash inflow was 39,317.75 million, down 43.54% from 69,636.39 million in the previous year, mainly due to a decrease in the recovery of BT project investment funds[18] - The company reported a net cash outflow from financing activities of -15,570.48 million, a reduction of 41.75% compared to -26,731.32 million in the previous year, reflecting a decrease in financing scale after being warned of ST risk[18] - The company has initiated a recruitment process for potential investors for the restructuring of its controlling shareholder, which is currently in the negotiation stage[19] Compliance and Legal Matters - The company reported a violation of guarantee matters with a remaining balance of 72,022.37 million, which has not yet been resolved as of the announcement date[21] - The company has not reported any violations regarding external guarantees during the reporting period[40] - The company is actively working on improving internal control systems to mitigate the impact of fund occupation issues[47] - The company has initiated bankruptcy reorganization procedures for its controlling shareholder and related parties[47] Research and Development - Research and development expenses decreased significantly by 86.20% to 190.75 million, attributed to changes in the scope of consolidation compared to the same period last year[17] - The company's research and development expenses for Q1 2021 were CNY 1,187,800.75, up from CNY 420,176.60 in the previous year, reflecting a focus on innovation[67] Future Plans - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[63] - The company has committed to ensuring the accuracy and completeness of information provided during the transaction process, adhering to relevant laws and regulations[26]

Loss of Control and Impairment - The company lost control over its subsidiary Shanghai Millennium Urban Planning Engineering Design Co., Ltd. (千年设计) as of August 21, 2020, leading to the exclusion of its financial data from consolidated reports[5] - The company reported a total of 700.81 million CNY in goodwill impairment related to 千年设计 for the year 2019, which could not be further assessed due to the loss of control[5] Financial Liabilities and Legal Issues - The company is facing a total of 926.7 million CNY in liabilities due to a court ruling related to a guarantee case, with an appeal currently in process[6] - The company has reported a 100% provision for impairment on receivables amounting to 600 million CNY due to a violation of guarantee by Chang'an Bank[6] - The company is currently involved in significant litigation that could adversely affect its operations and financial condition if the outcomes are unfavorable[9] - The company has ongoing significant litigation cases, including a claim for 230 million CNY related to a share transfer agreement, which is still under arbitration[8] - The company has initiated a lawsuit regarding the invalidation of a contract related to a CNY 60,000 million deposit, which is currently pending in court[9] Financial Performance - The company's operating revenue for 2020 was CNY 1,975,083,077, a decrease of 42.54% compared to CNY 3,437,604,134 in 2019[21] - The net profit attributable to shareholders was a loss of CNY 271,737,295.3, improving by 83.07% from a loss of CNY 1,421,657,799 in the previous year[21] - The net cash flow from operating activities was CNY 103,206,944.85, a significant decline of 241.53% compared to a negative cash flow of CNY 72,923,536.12 in 2019[21] - The company reported a net loss of CNY 137,608,616.8 after deducting non-recurring gains and losses, which is a 55.53% increase in loss compared to the previous year[21] Internal Controls and Management - The company has committed to strengthening internal controls and improving management systems to prevent future occurrences of fund occupation and guarantee violations[8] - The company plans to enhance its internal audit capabilities to monitor and manage financial risks more effectively[8] - The company is actively pursuing legal actions to recover funds and protect shareholder interests, including potential litigation against its subsidiary[6] Fund Occupation and Related Party Transactions - The company has identified a total of 2.1585 billion CNY in fund occupation by its controlling shareholder and related parties, with 320 million CNY already returned, leaving a balance of 1.8385 billion CNY[7] - The company is actively pursuing legal actions to recover funds related to its subsidiaries and associated parties[9] - The company has implemented measures to recover occupied funds, including sending letters to controlling shareholders and requiring repayment plans[164] Infrastructure Projects and Market Position - The company is involved in significant infrastructure projects, with a total investment of 1.29 trillion CNY planned for major water conservancy projects across the country[34] - The company is a leading player in the specialized market of coastal engineering and water conservancy construction, with significant competitive advantages over state-owned enterprises[36] - The company has expanded its business into inland markets, particularly in Anhui and Jiangxi provinces, increasing its project volume in these areas[52] Research and Development - The company invested CNY 22,270,959.24 in R&D, a decrease of 41.81% compared to the previous year, primarily due to the exclusion of Qian Nian Design[75] - The company has developed over 30 technology achievements that are at the domestic leading or international advanced level, focusing on construction efficiency and cost savings[51] - The company is focusing on technological innovation in water conservancy engineering, including research on flood control dam construction and ecological river management, to support sustainable development[76] Fundraising and Financial Management - The company has a total of RMB 302,877.70 million in raised funds, with RMB 197,434.89 million already utilized by the end of the reporting period[95] - The company has committed to fulfilling all promises made during the asset restructuring process[149] - The company plans to ensure the authenticity and completeness of information provided during transactions[150] Legal Compliance and Governance - The company is currently under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure regulations[8] - The company has acknowledged the need for improved compliance and governance to address regulatory concerns[187] - The company has maintained compliance with all relevant regulations and commitments throughout the reporting period[149] Shareholder Returns and Dividends - The company plans to establish a three-year shareholder return plan to enhance transparency and participation in profit distribution decisions[144] - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[10] - The cumulative undistributed profits at the end of 2019 were RMB -121,801.56 million, and at the end of 2020 were RMB -156,677.28 million[146]

Financial Performance - Operating revenue for the reporting period was CNY 554,539,845.64, down 20.51% year-on-year, and year-to-date revenue decreased by 46.24% to CNY 1,165,524,639.97[11] - Net profit attributable to shareholders was a loss of CNY 87,710,551.81, representing a decline of 282.62% compared to the same period last year[11] - The company reported a basic earnings per share of -CNY 0.0766, down 282.38% year-on-year[11] - The company's operating revenue for the third quarter was CNY 116,552.46 million, a decrease of 46.24% compared to CNY 216,782.70 million in the same period last year[20] - The company reported a significant drop in research and development expenses, which fell by 57.30% to CNY 1,270.26 million from CNY 2,975.17 million[20] - The company’s investment income turned negative at CNY -692.70 million, a decline of 115.72% compared to CNY 4,407.68 million in the previous year[20] - The company reported a net loss of CNY 995,591,376.74 as of September 30, 2020, compared to a loss of CNY 877,237,483.17 at the end of 2019[64] - Net profit for the current period is a loss of CNY 88,527,440.72, compared to a profit of CNY 53,774,385.39 in the previous period[71] - The company reported a total comprehensive income for the period was a loss of CNY 121,055,558.76, compared to a gain of CNY 107,231,799.46 in the previous year[80] Asset and Liability Changes - Total assets decreased by 14.96% to CNY 8,026,348,088.98 compared to the end of the previous year[11] - The company’s total liabilities decreased by 40.76% to CNY 100,713.74 million from CNY 169,998.46 million, mainly due to payments made for previous year’s unpaid project costs[20] - The total amount of raised funds is RMB 58,005.09 million, with RMB 2,517.31 million invested in the current year[35] - The total amount of non-fund occupation reached 28,087.76 million yuan, with a remaining balance of 18,385 million yuan as of the report date[57] - The total liabilities amounted to CNY 5,490,581,490.42, with total equity at CNY 3,947,298,813.46, resulting in total assets of CNY 9,437,880,303.88[96] Cash Flow Analysis - The net cash flow from operating activities increased significantly by 829.91% to CNY 136,867,572.37[11] - The company's net cash flow from operating activities was -2,883.85 million, an improvement of 85.70% compared to -20,171.50 million in the previous period[21] - The net cash flow from investing activities was -4,928.24 million, a significant increase of 619.26% from -685.18 million year-on-year, primarily due to increased external investments[21] - The net cash flow from financing activities was -36,307.40 million, a decrease of 31.50% compared to -53,005.73 million in the previous year, mainly due to reduced loan repayments[21] - The cash flow from operating activities showed a net outflow of ¥28,838,529.25, an improvement from a net outflow of ¥201,714,976.35 in the same period last year[87] Regulatory and Compliance Issues - The company is under regulatory scrutiny for potential fund misappropriation involving CNY 5.02 billion[7] - The company plans to hire a qualified intermediary to assess the compliance of its accounting treatment regarding a CNY 6 billion deposit issue[7] - The company is actively seeking solutions to address issues related to goodwill impairment testing due to loss of control over Shanghai Qinnian[8] - The company has lost control over Shanghai Qinnian, which has affected the consolidation of financial data in the report[6] - The company is under investigation for potential fund misappropriation amounting to approximately 5.02 billion by major shareholders and related parties[28] Shareholder and Ownership Information - The top shareholder, Zhejiang Weihai Holdings Group Co., Ltd., holds 43.06% of the shares, with 190,597,204 shares pledged[15] - The company’s major shareholder has applied for bankruptcy reorganization, citing inability to repay debts and lack of assets to cover liabilities[27] Project and Investment Updates - The project "Fenghua Xiangshan Port Shelter Anchorage Construction Project" is expected to be completed and usable by January 2021[36] - The "Zhoushan Liuhong Small Guoju Phase II Reclamation Project" is delayed due to COVID-19 and is expected to be completed by the end of December 2020[36] - The total investment for the committed investment projects is RMB 60,000 million, with RMB 58,058.27 million already invested[35] - The company has not generated any benefits from the Tian Tai County Cangnan Industrial Cluster Area Phase I PPP Project as it is still under construction[40] Legal and Impairment Issues - The company has recognized a 100% impairment provision for receivables from related parties due to their inability to repay, amounting to 14,000 million CNY[48] - The company has transferred 10,000 million CNY to a bank guarantee deposit account due to non-repayment by related parties[52] - The company is pursuing legal avenues to recover the amounts transferred to the bank guarantee deposit account[52] - The company is involved in a legal process to resolve the guarantees provided to its parent company[51] Miscellaneous - The company has established a self-inspection team to address the suspected fund occupation issues, emphasizing the importance of internal control systems[57] - The financial statements are prepared in accordance with the relevant accounting standards, ensuring transparency and accuracy in reporting[60] - The company has not conducted any investor relations activities such as research or interviews during the reporting period[58]