Financial Performance - The company's operating revenue for Q1 2020 was ¥434,308,710.85, a decrease of 49.50% compared to ¥860,051,747.16 in the same period last year[7] - The net profit attributable to shareholders was ¥1,908,760.34, down 95.96% from ¥47,214,861.65 year-on-year[7] - The net profit after deducting non-recurring gains and losses was -¥372,214.95, a decline of 100.80% compared to ¥46,704,861.65 in the previous year[7] - The basic earnings per share were ¥0.01, down 92.31% from ¥0.13 in the same period last year[7] - Net profit for Q1 2020 was CNY 6,484,657.13, compared to CNY 50,340,644.57 in the same period last year, reflecting a decline of approximately 87.1%[38] - The total comprehensive income for the first quarter was CNY -2,058,852.73, compared to CNY 47,822,839.36 in the previous period[43] Cash Flow - The net cash flow from operating activities was -¥175,112,734.15, a decrease of 76.78% from -¥99,055,413.59 in the same period last year[7] - Net cash flow from operating activities decreased by CNY 76,057,320.56, a reduction of 76.78%, mainly due to decreased collections influenced by the COVID-19 pandemic[15] - The cash flow from operating activities showed a net outflow of CNY 175,112,734.15, compared to a net outflow of CNY 99,055,413.59 in the previous period[46] - The net cash flow from operating activities was -169,365,822.51 yuan, a decrease from -82,763,557.76 yuan in the previous period, indicating a worsening cash flow situation[20] - Total cash inflow from financing activities increased to 372,261,022.00 yuan from 300,000,000.00 yuan, reflecting a growth of approximately 24.2%[50] - The net cash flow from financing activities improved to 144,914,792.40 yuan compared to 59,226,559.28 yuan in the previous period, showing a significant increase of approximately 144.5%[50] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,447,344,109.26, down 7.11% from ¥5,864,510,237.10 at the end of the previous year[7] - Total assets as of March 31, 2020, amounted to CNY 5,447,344,109.26, down from CNY 5,864,510,237.10 as of December 31, 2019[28] - Total liabilities decreased from CNY 3,264,897,358.55 to CNY 2,828,345,685.99[30] - Current liabilities decreased to CNY 2,742,638,768.53 from CNY 3,116,321,175.89 in the previous period[34] - The total liabilities amounted to 3,264,897,358.55 yuan, with a significant portion being short-term borrowings of 793,216,312.82 yuan[54] Expenses - Total operating costs for Q1 2020 were CNY 416,351,976.23, down from CNY 793,336,110.50 in the previous period[37] - The company reported a decrease in research and development expenses to CNY 12,688,734.75 from CNY 22,930,944.43 in the previous period[37] - R&D expenses decreased by CNY 10,242,209.68, a reduction of 44.67%, primarily due to decreased investment caused by the COVID-19 pandemic[15] - The company incurred credit impairment losses of CNY 8,871,232.91, compared to CNY 7,084,127.69 in the previous period[42] Government Subsidies and Other Income - The company recognized government subsidies amounting to ¥2,728,000.00 during the reporting period[8] - Other income increased by CNY 2,128,000, an increase of 354.67%, mainly due to increased government subsidies received[15] Adjustments and Compliance - The company adjusted its financial statements to comply with new revenue and leasing standards, impacting the recognition of contract assets[51] - The report reflects the implementation of new revenue and leasing standards starting in 2020, with no retrospective adjustments made[57]

Financial Performance - The company's operating revenue for 2019 was CNY 3,817,998,179.36, representing a 5.65% increase compared to CNY 3,613,862,347.42 in 2018[15]. - The net profit attributable to shareholders for 2019 was CNY 156,185,147.87, up by 5.74% from CNY 147,713,262.04 in 2018[15]. - The net profit after deducting non-recurring gains and losses decreased by 8.23% to CNY 147,370,370.62 in 2019 from CNY 160,578,306.98 in 2018[15]. - The net cash flow from operating activities improved significantly, reaching CNY -45,902,441.65 in 2019, a 81.45% increase from CNY -247,475,542.82 in 2018[15]. - The total assets of the company at the end of 2019 were CNY 5,864,510,237.10, an increase of 11.24% from CNY 5,272,116,154.26 at the end of 2018[15]. - The net assets attributable to shareholders increased by 5.92% to CNY 2,317,366,597.43 at the end of 2019 from CNY 2,187,815,552.94 at the end of 2018[15]. - The basic earnings per share for 2019 was CNY 0.43, reflecting a 4.88% increase from CNY 0.41 in 2018[15]. - The diluted earnings per share for 2019 was CNY 0.42, up by 2.44% from CNY 0.41 in 2018[15]. - The weighted average return on equity for 2019 was 6.98%, slightly up from 6.92% in 2018[15]. - The company reported a gross profit margin of 14.31% for residential decoration, which decreased by 0.19% year-on-year[50]. Business Operations - The company's decoration business generated ¥3,566,906,486.72, accounting for 93.42% of total revenue, with a growth of 4.91%[47]. - Solar energy revenue amounted to ¥143,587,821.52, which is 3.76% of total revenue, showing a growth of 10.24%[47]. - The company has maintained a focus on the decoration industry, emphasizing a strategy of "technology leadership" and "management excellence" to drive sustainable development[25]. - The company has entered the photovoltaic industry since 2015 and is now positioned to capitalize on the growing market for integrated photovoltaic buildings[26]. - The company is actively adapting its photovoltaic business strategy in response to national policies promoting green buildings and increased subsidies[26]. - The company has established a comprehensive 6S management system to enhance operational efficiency and information management[25]. - The company has developed a strategic plan for its photovoltaic business to enhance both quality and quantity, aiming to create new business highlights[26]. - The company has achieved significant technological results, obtaining 147 patent achievements, including 19 invention patents and 119 utility model patents[29]. - The company has established a comprehensive quality management system certified by ISO9001, enhancing quality control across design, construction, and acceptance phases[30]. Research and Development - The company has invested heavily in technology research and development, establishing a BIM technology center and a health evaluation laboratory for indoor environments[34]. - The company has implemented an ERP information management system to integrate various operational aspects, improving project management and cost control[35]. - The company has established a technical innovation platform, including a BIM technology center and a health evaluation laboratory, to enhance its R&D capabilities[64]. - The company is focusing on technology innovation in the green health indoor environment and intelligent home sectors to support future market expansion[65]. - The company's R&D investment increased by 17.21% from 106,357,483.14 CNY in 2018 to 124,663,792.35 CNY in 2019, representing 3.27% of total revenue[65]. - The number of R&D personnel rose by 6.48% from 108 to 115, with R&D personnel accounting for 16.45% of the total workforce[65]. Market Strategy - The company has established multiple new marketing teams to enhance market response capabilities and stimulate marketing vitality[40]. - The company has actively expanded its photovoltaic business and EPC projects, enhancing its marketing strategies and service processes[41]. - The company is focusing on integrating photovoltaic systems with its existing construction services to lower entry barriers in the photovoltaic building sector[85]. - The company is dedicated to reducing resource waste and costs through technological innovation in its projects, contributing to modernized construction practices[87]. - The company aims to enhance its decision-making and strategic functions within the board, focusing on governance and risk management to drive economic growth[83]. - The company plans to expand its business operations, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area, to capture market opportunities and improve economic benefits[84]. Governance and Management - The company has established a comprehensive human resources strategy to attract and retain talent, ensuring a high-quality workforce for sustainable development[89]. - The company has a robust governance structure with independent directors and a supervisory board, ensuring compliance and strategic oversight[180]. - The total remuneration for the board of directors and senior management during the reporting period amounted to CNY 6.15 million[188]. - The company has established a performance-based remuneration scheme for its directors and senior management, linking it to individual performance assessments[187]. - The company has implemented training programs for various levels of employees to enhance their skills and meet strategic goals[194]. - The company has a commitment to professional development, as evidenced by its executives holding advanced degrees and professional qualifications[183]. Safety and Compliance - The company has implemented strict safety production management measures and regularly conducts comprehensive safety inspections[145]. - The company acknowledges risks from real estate policy adjustments that may impact demand for residential decoration services[90]. - The company has emphasized the importance of safety and has taken measures to prevent future incidents[124]. - The company conducted a thorough self-examination and implemented strict corrective measures following the accident[123][124]. - The company received a 60-day suspension of its construction safety production license from the Guangdong Provincial Housing and Urban-Rural Development Department[122]. Shareholder Relations - The company plans to distribute a cash dividend of CNY 0.6 per 10 shares to all shareholders based on the total share capital at the end of 2019[4]. - The cash dividend distribution plan includes a payout of CNY 0.6 per 10 shares (tax included) based on a total share capital of 378,630,000 shares[100]. - The company has maintained a consistent cash dividend policy over the past years, with no significant changes in the dividend amount[100]. - The company has not proposed any share repurchase as part of its cash dividend distribution[100]. - The company has not made any adjustments to its cash dividend policy during the reporting period, ensuring transparency and compliance with regulations[96]. Legal and Regulatory Matters - The company has not reported any significant accounting errors requiring retrospective restatement during the reporting period[116]. - The company has not faced any penalties from securities regulatory authorities for its directors, supervisors, and senior management in the past three years[187]. - There are ongoing litigation matters involving the company's wholly-owned subsidiary, with a claimed amount of CNY 53,280,000, currently under trial[120]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[111].

Financial Performance - Net profit attributable to shareholders rose by 51.85% to CNY 45,946,029.58 for the reporting period[7] - Operating income for the period was CNY 924,242,492.00, reflecting a growth of 5.78% year-on-year[7] - The total comprehensive income attributable to the parent company was CNY 45,946,029.58, compared to CNY 30,257,873.10 in the previous year, marking a significant increase of 52.0%[36] - Total revenue for Q3 2019 reached CNY 924,242,492, an increase of 5.5% compared to CNY 873,762,171.95 in Q3 2018[34] - Operating profit for Q3 2019 was CNY 63,821,887.78, up from CNY 45,660,088.36 in the same period last year, reflecting a growth of 39.8%[35] - Net profit for Q3 2019 was CNY 56,252,976.21, compared to CNY 40,203,994.67 in Q3 2018, representing an increase of 40.0%[35] - The total profit for Q3 2019 was CNY 41,144,738.70, compared to CNY 38,749,275.46 in Q3 2018, showing an increase of 3.4%[38] - The company's total revenue for the year-to-date period reached CNY 2,680,698,968.26, an increase of 3.3% from CNY 2,595,785,892.88 in the previous year[41] Assets and Liabilities - Total assets increased by 7.19% to CNY 5,651,334,825.98 compared to the end of the previous year[7] - The company's total current assets reached CNY 4,369,989,262.55, up from CNY 3,960,281,523.17 at the end of 2018, reflecting a growth of approximately 10.3%[25] - The total liabilities increased to CNY 3,074,695,538.86 from CNY 2,830,790,053.10, indicating a rise of about 8.6%[26] - The company's equity attributable to shareholders rose to CNY 2,300,230,984.71, compared to CNY 2,187,815,552.94 at the end of 2018, marking an increase of approximately 5.1%[27] - Total current liabilities amounted to CNY 3,023,083,606.56, up from CNY 2,829,178,120.80, indicating an increase of approximately 6.8%[26] - Total assets increased to CNY 5,214,666,421.06 from CNY 4,836,199,648.88, marking a rise of 7.8%[32] - Total liabilities as of September 30, 2019, were CNY 2,966,649,351.69, compared to CNY 2,682,227,271.72 at the end of 2018, reflecting an increase of 10.6%[31] Cash Flow - The net cash flow from operating activities increased significantly by 116.44% to CNY 17,411,650.99[7] - The company reported a decrease in cash flow from investing activities by 145.57% compared to the previous period[16] - The net cash flow from operating activities was negative at CNY -103,893,591.74, improving from CNY -234,869,934.73 in the same period last year[55] - The net cash flow from financing activities was CNY 67,628,870.78, down from CNY 148,236,641.64, a decrease of 54.4%[56] - The total cash outflow from investment activities was CNY 45,437,679.56, with a net cash flow of CNY -16,687,558.48, indicating a significant reduction in investment activities[52] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,730[11] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[12] Research and Development - Research and development expenses for Q3 2019 were CNY 26,881,553.72, slightly up from CNY 25,682,772.85 in Q3 2018, indicating a focus on innovation[34] - Research and development expenses amounted to ¥84,227,306.25, slightly up from ¥81,078,599.84, showing an increase of about 2.65%[47] Financial Ratios - The weighted average return on equity improved to 2.02%, up from 0.57% in the previous year[7] - Basic earnings per share for Q3 2019 were CNY 0.13, compared to CNY 0.08 in Q3 2018, indicating a 62.5% increase[38] - Basic and diluted earnings per share both increased to ¥0.39 from ¥0.34, marking a rise of approximately 14.71%[44] Other Income - Other income rose by 156.90% to CNY 5,457,000.00, primarily due to increased government subsidies received[15] - The company reported other income of ¥8,885,000.00, significantly higher than ¥3,478,000.00 in the previous period, representing an increase of about 155.5%[47]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥1,756,456,476.26, representing a 2.00% increase compared to ¥1,722,023,720.93 in the same period last year[18]. - The net profit attributable to shareholders was ¥95,105,388.69, up by 2.67% from ¥92,628,010.66 year-on-year[18]. - The net profit after deducting non-recurring gains and losses decreased by 3.84% to ¥88,027,510.71 from ¥91,544,053.29 in the previous year[18]. - The net cash flow from operating activities was negative at -¥124,928,054.25, a decline of 253.41% compared to -¥35,349,496.64 in the same period last year[18]. - Total assets at the end of the reporting period were ¥5,456,354,738.17, an increase of 3.49% from ¥5,272,116,154.26 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 2.68% to ¥2,246,473,127.84 from ¥2,187,815,552.94 at the end of the previous year[18]. - The operating cost increased to ¥1,478,006,092.58, up by 1.70% from ¥1,453,327,278.59 year-on-year[43]. - The company achieved a significant reduction in sales expenses, which decreased by 19.60% to ¥9,908,290.54 from ¥12,323,663.25[43]. - Research and development investment rose by 3.52% to ¥57,345,752.53, compared to ¥55,395,826.99 in the previous year[43]. - The company reported a total revenue of 4,541,000.39 with a net loss of 5,703,887.7 for the subsidiary Shenshan Special Zone Ruihe Industrial Park Development Co., Ltd.[70]. Business Operations - The company is engaged in various construction and decoration services, including photovoltaic project installation and operation[24]. - The company emphasizes technological advancement and has developed a strategy combining BIM and prefabricated construction technologies[24]. - The company successfully established a joint venture with Xinyi Solar to build a 100MWp photovoltaic power station in Lu'an, Anhui, and independently operates a 30MWp photovoltaic power station in Xinfeng, Jiangxi[26]. - The company is actively participating in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the Shenzhen pilot demonstration area, leveraging favorable policies and resources[35]. - The company is focusing on green and sustainable development, implementing low-carbon and environmentally friendly construction practices[31]. - The company has ongoing overseas projects, including a renovation project for the Chinese Embassy in North Korea valued at RMB 10.3678 million, which has been completed but not settled[48]. - The company is actively expanding its photovoltaic installation and construction business, leveraging its technological capabilities and successful project experiences in Anhui and Jiangxi provinces[37]. Shareholder and Management Information - The company does not plan to distribute cash dividends or issue bonus shares[5]. - The company launched a restricted stock incentive plan in March 2019, granting 16.13 million shares at a price of CNY 3.59 per share to 72 key personnel[36]. - The company has a total of 72 incentive plan participants, including directors and key management personnel[112]. - The total number of shares before the recent changes was 362.5 million, with a total of 16.13 million new shares issued[108]. - The total number of restricted shares released during the reporting period was 7,126,375, with a total of 8,709,645 restricted shares remaining[111]. - The company’s stock incentive plan aims to align the interests of management with those of shareholders through performance-based vesting[112]. - The company appointed new directors and senior management on January 25, 2019, as part of a board and management restructuring[123]. Risks and Challenges - The company faced risks related to real estate industry policy adjustments, which could impact the demand for residential decoration services[71]. - The company is actively addressing management risks associated with business expansion and increasing operational complexity[72]. - The company reported a significant issue with accounts receivable, prompting a more cautious approach in project selection to mitigate default risks[72]. - The company faced a fine of 780,000 for safety violations related to the Nantong Xingdong Airport expansion project[82]. - The company has implemented strict safety measures and conducted special inspections on all ongoing projects following the accident[84]. Financial Management and Investments - The company has invested approximately ¥2.2 billion in the Shenshan Industrial Park, which spans about 70,000 square meters of land and has a building area of around 120,000 square meters[38]. - The company has applied for over 40 patents related to prefabricated decoration technology, with more than 10 patents already granted[39]. - The company has not engaged in any significant non-raised fund investment projects during the reporting period[66]. - The company has signed tripartite and quadripartite supervision agreements for the raised funds, ensuring proper management and usage[63]. - The company reported a total of RMB 1,194,203,839.67 in capital reserves, up from RMB 1,146,817,484.11, which is an increase of approximately 4.1%[133]. Future Outlook - The company plans to enhance its competitive advantage through innovation in construction quality, project management, and brand recognition[72]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[162]. - The company expects to maintain normal operations for the next 12 months without significant uncertainty regarding its ability to continue as a going concern[175].

证券简称：瑞和股份 证券代码：002620 公告编号：2019-056 深圳瑞和建筑装饰股份有限公司 关于参加 2019 年深圳上市公司投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流工作，深圳瑞和建筑装饰股份有限公 司（以下简称"公司"）将参加由深圳上市公司协会、深圳市全景网络有限 公司共同举办的"改革创新发展沟通互信共赢"——深圳辖区上市公司 2019 年度投资者网上集体接待日主题活动，现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采 取网络远程的方式举行，投资者可以登录"全景•路演天下"网站 （http://rs.p5w.net/）或关注微信公众号：全景财经，参与公司本次投资 者集体接待日活动，活动时间为 2019 年 9 月 3 日 14:00 至 18:00。 届时公司的董事、副总经理、财务负责人陈如刚先生、副总经理、董事 会秘书陈延先生将通过网络文字交流形式与投资者进行沟通。 欢迎广大投资者积极参与。 特此公告。 深圳瑞和建筑装饰股份有限公司 董事会 二 ...

Financial Performance - The company's operating revenue for 2018 was CNY 3,613,862,347.42, representing a 20.20% increase compared to CNY 3,006,438,721.24 in 2017[15] - The net profit attributable to shareholders for 2018 was CNY 147,713,262.04, an increase of 11.45% from CNY 132,536,580.33 in 2017[15] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 160,578,306.98, up 28.23% from CNY 125,231,000.50 in 2017[15] - The basic earnings per share for 2018 was CNY 0.41, a 10.81% increase from CNY 0.37 in 2017[15] - The total assets at the end of 2018 were CNY 5,272,116,154.26, reflecting a 26.82% increase from CNY 4,157,167,242.05 at the end of 2017[15] - The net assets attributable to shareholders at the end of 2018 were CNY 2,187,815,552.94, a 4.76% increase from CNY 2,088,410,422.11 at the end of 2017[15] - The net cash flow from operating activities for 2018 was negative CNY 247,475,542.82, a significant decrease compared to positive CNY 63,427,964.19 in 2017[15] - The weighted average return on equity for 2018 was 6.92%, up from 6.51% in 2017[15] Market Dynamics - The construction decoration industry is experiencing a phase of steady development, with a notable decline in new contract signing growth in the latter half of 2018[27] - The public decoration market showed signs of sluggish growth, while residential business and full decoration performed well, indicating a shift in market dynamics[27] - The order income guarantee coefficient for leading enterprises in the industry has improved, suggesting a positive outlook for performance conversion in the sector[27] Strategic Initiatives - The company has adopted a centralized procurement model, which effectively reduces procurement costs and ensures supply chain stability[25] - Future trends in the decoration industry are expected to focus on "productization," "energy-saving," "green," and "information technology," indicating a shift towards more sustainable practices[28] - The company aims to integrate resources across the industry chain, expanding its business to include interior decoration, curtain walls, furniture, and building materials[32] - The company plans to focus on sustainable development and aims to enhance its competitive edge through six strategic initiatives, including technology and management leadership[86] Research and Development - The company has applied for a total of 185 patents and copyrights, with 119 granted, including 18 invention patents and 96 utility model patents[32] - The company has significantly increased its R&D efforts, focusing on green construction technologies and smart home integration, resulting in over 100 technological achievements[31] - R&D investment increased by 11.07% in 2018, totaling approximately CNY 106.36 million, accounting for 2.94% of operating revenue[65] - The number of R&D personnel rose to 108, a 3.85% increase from the previous year, but their proportion of total employees decreased by 4.82%[65] Corporate Governance - The company has established a comprehensive quality management system certified by ISO9001, enhancing quality control across design, construction, and acceptance phases[33] - The company has implemented an ERP information management system to shift from decentralized to centralized project management, reducing project risks[37] - The company has established a sound corporate governance structure with a shareholders' meeting as the highest authority, ensuring independence from major shareholders' interference[200] - The company operates an independent financial department with dedicated personnel, adhering to accounting laws and standards, and maintains an independent accounting system[200] Employee Engagement - The company has established a robust management team and training system, enhancing employee engagement and operational efficiency[40] - The company plans to strengthen its corporate culture to enhance employee engagement and retention, recognizing employees as central to value creation[90] - The total number of employees in the company is 676, with 381 in production, 34 in sales, 165 in technical roles, 30 in finance, and 66 in administration[189] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares to all shareholders[4] - For the year 2018, the company proposes a cash dividend of RMB 0.6 per 10 shares, subject to shareholder approval, with a total cash dividend amounting to RMB 21,750,000[103] - The company's cash dividend for 2018 represents 4.11% of the total distributable profit of RMB 529,004,658.21[103] Risk Management - The company is cautious in project selection to mitigate accounts receivable risks, focusing on partnerships with financially strong and reputable enterprises[91] - The company acknowledges potential risks from real estate industry policy adjustments that may impact demand for its residential decoration services[91] - The competitive landscape in the construction decoration industry is intense, with many players and low market concentration, prompting the company to enhance its competitive advantages[92] Financial Health - The company’s asset-liability ratio remains low compared to industry peers, reflecting a stable financial structure and increased trust from financial institutions[41] - Investment projects, including a 100 MW photovoltaic power station, have started generating profits and cash flow, contributing positively to the company's financial health[42] - The company reported a decrease in sales expenses by 11.47% to approximately ¥25.72 million, primarily due to the exclusion of a subsidiary from the consolidated scope[63] Compliance and Legal Matters - The company has not experienced any major litigation or arbitration matters during the reporting period[123] - There were no significant penalties or rectification measures during the reporting period[124] - The company has fulfilled all commitments made to minority shareholders in a timely manner[113]

Financial Performance - The company's operating revenue for Q1 2019 was ¥860,051,747.16, representing a 7.85% increase compared to ¥797,487,999.86 in the same period last year[7]. - Net profit attributable to shareholders was ¥47,214,861.65, an increase of 11.20% from ¥42,459,561.76 year-on-year[7]. - Net profit for Q1 2019 reached CNY 50,340,644.57, representing a 9.4% increase from CNY 46,018,650.31 in the previous year[35]. - The total comprehensive income for Q1 2019 was CNY 47.82 million, compared to CNY 42.13 million in the same period last year, indicating a growth of about 13.5%[40]. - The company's operating profit for Q1 2019 was approximately CNY 56.26 million, an increase from CNY 49.59 million in the same period last year, representing a growth of about 13.4%[39]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,361,308,495.80, up 1.69% from ¥5,272,116,154.26 at the end of the previous year[7]. - The company's total assets as of the end of Q1 2019 amounted to CNY 4,939,796,738.30, compared to CNY 4,836,199,648.88 at the end of the previous year, indicating a growth of 2.14%[32]. - The company's total liabilities stood at CNY 2,860,057,442.60, slightly up from CNY 2,830,790,053.10, which is an increase of approximately 1.03%[26]. - Total liabilities increased to CNY 2,728,417,214.31 from CNY 2,682,227,271.72, marking a rise of 1.72%[31]. Cash Flow - The net cash flow from operating activities improved to -¥99,055,413.59, a 16.87% reduction in loss compared to -¥119,159,403.10 in the previous year[7]. - The total cash inflow from operating activities was CNY 966.94 million, up from CNY 835.60 million in the previous year, indicating a growth of about 15.7%[43]. - The cash outflow from operating activities totaled CNY 1.07 billion, compared to CNY 954.76 million in the same period last year, resulting in a net cash flow from operating activities of approximately -CNY 99.06 million[43]. - The net cash flow from operating activities was -82,763,557.76 CNY, an improvement from -140,417,682.99 CNY in the previous year[47]. Equity - The company's net assets attributable to shareholders increased by 2.60% to ¥2,244,615,268.93 from ¥2,187,815,552.94[7]. - The equity attributable to the owners of the parent company rose to CNY 2,244,615,268.93 from CNY 2,187,815,552.94, reflecting an increase of about 2.59%[27]. - The company's equity totaled CNY 2,211,379,523.99, up from CNY 2,153,972,377.16, reflecting an increase of 2.66%[32]. Expenses - Total operating costs for Q1 2019 were CNY 801,142,369.11, up from CNY 742,702,269.73, reflecting a year-over-year increase of 7.88%[33]. - Research and development expenses for Q1 2019 were CNY 22,930,944.43, compared to CNY 19,325,246.52 in the same period last year, showing an increase of 18.5%[33]. - Sales expenses decreased by ¥2,110,927.06, a reduction of 33.66%, primarily due to the loss of control over a subsidiary[14]. - The company reported a decrease in sales expenses to CNY 4,159,799.14 from CNY 6,270,726.20, a reduction of 33.6%[33]. Financing Activities - Long-term borrowings increased by ¥50,000,000.00, marking a 100% increase due to new long-term borrowings during the period[14]. - The company reported cash inflow from financing activities of CNY 300 million, an increase from CNY 180 million in the previous year, reflecting a growth of 66.7%[44]. - The net cash flow from financing activities was CNY 59.23 million, down from CNY 77.32 million in the same period last year, indicating a decrease of about 23.4%[44]. - The cash flow from financing activities included debt repayment of 230,043,465.00 CNY, which increased from 98,146,000.00 CNY year-over-year[48]. Other Information - The company reported no violations regarding external guarantees during the reporting period[17]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[18]. - The company did not engage in any research, communication, or interview activities during the reporting period[19]. - The company has not disclosed any significant events or changes in its operational strategy during the reporting period[17].

深圳瑞和建筑装饰股份有限公司 2018 年第三季度报告正文 证券代码：002620 证券简称：瑞和股份 公告编号：2018-058 深圳瑞和建筑装饰股份有限公司 2018 年第三季度报告正文 1 深圳瑞和建筑装饰股份有限公司 2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人叶志彪、主管会计工作负责人陈如刚及会计机构负责人(会计主 管人员)林望春声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳瑞和建筑装饰股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 4,835,022,448.50 | 4,157,167,242.05 | | 16.3 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,722,023,720.93, representing a 33.12% increase compared to CNY 1,293,547,437.22 in the same period last year[17]. - The net profit attributable to shareholders was CNY 92,628,010.66, up 30.60% from CNY 70,925,287.58 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 91,544,053.29, reflecting a 34.05% increase from CNY 68,292,255.66 in the previous year[17]. - The basic earnings per share increased to CNY 0.256, a rise of 30.61% compared to CNY 0.196 in the same period last year[17]. - The company's operating costs rose to ¥1,503,292,690.59, an increase of 35.04% compared to the previous year, driven by expanded business volume[40]. - Research and development investment increased by 23.68% to ¥56,258,869.61, indicating a commitment to innovation[40]. - The company reported a total comprehensive income of 102,407,010.66 CNY for the current period, reflecting a positive performance[162]. - The company’s total equity rose to CNY 2,085,740,637.68, up from CNY 2,048,042,790.74, showing an increase of 1.8%[143]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,713,801,141.78, which is a 13.39% increase from CNY 4,157,167,242.05 at the end of the previous year[17]. - The total liabilities increased to CNY 2,346,600,141.79 from CNY 1,842,485,664.98, reflecting a rise of approximately 27.5%[138]. - The company's cash and cash equivalents at the end of the reporting period amounted to RMB 547,948,844.1, slightly up from RMB 461,774,529.65, with a marginal increase in proportion to total assets[47]. - Accounts receivable increased significantly to RMB 2,090,857,979.48 from RMB 1,886,794,052.12, which is an increase of approximately 10.8%[136]. - The company reported a short-term loan balance of RMB 635,000,000.00, which increased from RMB 480,000,000.00, representing a rise of approximately 32.3%[138]. Cash Flow - The company reported a net cash flow from operating activities of CNY -35,349,496.64, a significant decrease of 164.64% compared to CNY 54,683,667.17 in the same period last year[17]. - Cash flow from operating activities showed a net outflow of ¥35,349,496.64, a decline from a net inflow of ¥54,683,667.17 in the previous period[155]. - The net increase in cash and cash equivalents was 103,365,307.22 CNY, contrasting with a decrease of 7,189,785.25 CNY in the previous period[159]. Business Operations - The company is engaged in various construction and decoration projects, including government institutions, real estate developers, and high-end hotels, indicating a diverse business portfolio[25]. - The company has established a comprehensive management system through a five-in-one operational management model, achieving efficient management and effective marketing strategies[26]. - The company is focused on creating a brand image centered around "health, environmental protection, intelligence, and quality," which is reflected in its project management processes[27]. - The company has actively participated in the formulation of national standards for decoration and renovation materials, showcasing its commitment to industry standardization[31]. - The company is currently engaged in a renovation project for the Chinese Embassy in North Korea, with a contract value of RMB 7,888,400[45]. Strategic Initiatives - The company plans to expand its home decoration business to tap into the growing demand driven by urbanization and rising living standards[38]. - The company is focusing on strategic partnerships with clients to mitigate risks and ensure stable performance[38]. - The company is actively enhancing its qualifications and integrating technology such as BIM to adapt to industry changes and improve operational efficiency[38]. - The company is focusing on the development of new technologies and products to enhance its service offerings in the construction industry[173]. - The company aims to improve operational efficiency and reduce costs through the implementation of advanced construction techniques and management practices[173]. Shareholder and Governance - The company does not plan to distribute cash dividends or issue bonus shares for this reporting period[5]. - The controlling shareholder, Li Jieping, has provided a legally binding commitment to avoid any competition with the company during his tenure[78]. - The company guarantees that it has not invested in any businesses that are similar to its own, ensuring no conflicts of interest[79]. - The company has committed to avoiding any form of competition with its existing business and products, ensuring no investments in similar businesses[77]. Compliance and Reporting - The company's semi-annual report for 2018 is unaudited[87]. - There were no significant litigation or arbitration matters during the reporting period[89]. - The integrity status of the company and its controlling shareholders is good, with no unfulfilled court judgments or significant overdue debts[91]. - The financial statements comply with the requirements of the accounting standards and accurately reflect the company's financial position as of June 30, 2018[181].

Financial Performance - The company's operating revenue for 2017 was CNY 3,006,438,721.24, representing a 23.38% increase compared to CNY 2,436,680,172.89 in 2016[17]. - The net profit attributable to shareholders for 2017 was CNY 132,536,580.33, a 39.58% increase from CNY 94,952,679.10 in 2016[17]. - The net cash flow from operating activities improved significantly to CNY 63,427,964.19, compared to a negative cash flow of CNY -53,249,291.20 in 2016, marking a 219.12% increase[17]. - Basic earnings per share for 2017 were CNY 0.37, up 42.31% from CNY 0.26 in 2016[17]. - The company reported a weighted average return on equity of 6.51% for 2017, slightly up from 6.20% in 2016[17]. - The company achieved an operating revenue of ¥3,006,438,721.24, representing a year-on-year growth of 23.38%[48]. - The net profit attributable to shareholders reached ¥132,536,580.33, an increase of 39.58% compared to the previous year[48]. - The basic earnings per share were ¥0.37, reflecting a year-on-year increase of 42.31%[48]. - The company’s cash flow from operating activities was ¥63,427,964.19, a significant improvement from a negative cash flow of ¥53,249,291.20 in the previous year[48]. Assets and Liabilities - Total assets at the end of 2017 reached CNY 4,157,167,242.05, an increase of 11.43% from CNY 3,730,699,394.94 at the end of 2016[18]. - The net assets attributable to shareholders increased by 5.01% to CNY 2,088,410,422.11 from CNY 1,988,793,430.39 in 2016[18]. - The company's total assets included accounts receivable of ¥1,886,794,052, which accounted for 45.39% of total assets, up from 36.16% in 2016[77]. - The cash and cash equivalents decreased by 10.58% to ¥439,999,746.14 from ¥457,673,536.23 in the previous year[76]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares, totaling CNY 54,375,000 based on 3.625 billion shares[5]. - The company plans to distribute a cash dividend of RMB 2.5 per 10 shares, totaling RMB 54,375,000 for the year 2017, which represents 41.03% of the net profit attributable to shareholders[106]. - The company’s net profit for 2017 was RMB 132,536,580.33, with a cash dividend payout ratio of 41.03%[110]. - The total number of ordinary shareholders at the end of the reporting period was 24,125, a decrease from 24,852 at the end of the previous month[165]. Business Operations and Market Position - The company engaged in various construction and decoration projects, including government institutions and high-end hotels, maintaining a comprehensive qualification in the decoration industry[27]. - The company has established a centralized procurement platform to ensure fast supply and low costs for materials, enhancing operational efficiency[28]. - The company has received multiple awards, including two Luban Awards and six National Decoration Awards, reflecting its strong industry position[31]. - The company is recognized as one of the top ten in the "China Building Decoration Industry Top 100" rankings, highlighting its competitive edge[31]. - The company is actively participating in the standardization of the construction decoration industry, having led or participated in the development of multiple industry standards[42]. Research and Development - The company has developed 145 patents and copyrights, including 17 authorized invention patents, 91 utility model patents, 4 design patents, and 1 software copyright, with 32 patents currently under review[36]. - The company has increased its R&D efforts, focusing on green and healthy indoor environments, precision construction, and green construction technologies, which has led to over 100 technological achievements[35]. - The company is actively pursuing R&D in construction decoration technology and has applied for an international patent related to BIM technology[52]. - The company has established a health and environmental standard system integrated with "RH+VR+BIM+ERP" for its home decoration business[47]. Management and Governance - The company has established a stable management system and internal control, but faces challenges in management due to business expansion and diversification into the photovoltaic power generation sector[100]. - The company has implemented a standardized management system to support project management and ensure high-quality service delivery[99]. - The company has a structured approach to governance with a clear delineation of roles among its board members[193]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 4.2732 million[193]. Future Plans and Strategies - The company aims to leverage technological advancements to support market expansion and enhance brand recognition in the high-tech era[73]. - The company plans to adjust the construction content of the Ruihe construction materials processing project due to changes in market conditions[83]. - The company is actively preparing for the construction of a customized O2O platform and upgrading its marketing network[84]. - The company aims to innovate and differentiate itself to escape low-price competition and achieve rapid breakthroughs[92]. - The company plans to establish a home experience center to showcase its high-end home decoration offerings and enhance brand visibility[96]. Compliance and Legal Matters - The company has not faced any major litigation due to quality issues as of the report date[39]. - The company has not reported any major changes in the scope of consolidated financial statements compared to the previous year[126]. - The company has fulfilled all commitments made to minority shareholders in a timely manner[121]. - There were no major lawsuits or arbitration matters during the reporting period[130].