Company Performance Overview - In 2017, China Jinmao aimed to expand its presence from 23 cities to 40 cities and increase its signed sales from 50 billion to 200 billion by 2022 [2][19] - The sales revenue for China Jinmao reached 69.3 billion in 2017, marking an 85% year-on-year increase, ranking 29th in the "Top 200 Real Estate Companies in China" by CRIC [2][19] - From 2013 to 2021, the company saw continuous growth in revenue, gross profit, net profit attributable to shareholders, total assets, and total liabilities [3][22] Financial Metrics - Revenue increased from 20.719 billion in 2013 to 90.06 billion in 2021 [4][22] - Gross profit rose from 9.2 billion in 2013 to 16.758 billion in 2021 [5][22] - Total assets grew from 120.843 billion in 2013 to 44.3778 billion in the first half of 2025 [5][22] - Signed sales increased from 16.868 billion in 2013 to a peak of 235.6 billion in 2021 [5][22] Debt and Profitability Concerns - Total liabilities increased from 73.624 billion in 2013 to 32.3012 billion in the first half of 2025 [5][22] - Net profit attributable to shareholders peaked at 6.452 billion in 2019 but turned into a significant loss of 6.897 billion in 2023 [5][22] Executive Compensation Trends - The period from 2018 to 2021 saw high executive compensation, with significant performance bonuses and stock options contributing to overall income [6][30] - For instance, in 2019, CEO Li Congrui earned 18.404 million, with performance bonuses and special bonuses accounting for 73.5% of his total income [29][30] - Post-2021, executive compensation has significantly decreased, reverting to levels seen before 2013, with income dropping from millions to hundreds of thousands [31][32] Leadership Changes - In 2023, several key executives, including CFO Jiang Nan and CEO Li Congrui, resigned, leading to a new leadership team [34]