The Group Company achieved an annual operating income of 624 million yuan, a total profit of 9.8 million yuan, and paid taxes of 34.16 million yuan, and was once again ranked among the top 511 service enterprises in China and the 32nd among the top 111 enterprises in Wuhan.

(1), the retail industry focuses on four aspects: storefront, brand, marketing and service, and makes great efforts in specialization and refinement, making breakthroughs in expanding sales and improving quality, and enhancing its competitive strength. The annual sales revenue was 559 million yuan, a year-on-year increase of 3.33%.

① Hanyang Shopping Mall faced up to the difficulties, took the initiative to deal with them, and took effective measures to stabilize its operation under the test of multiple difficulties, such as the construction of Ginza by Han merchants, the intensified competition in the business circle and the aging of its own operating facilities, and maintained the leading position of Zhongjiacun business circle. The annual operating income was 48 million yuan, and the operating profit was 6,689,911 yuan, a slight decrease year-on-year.

②. The eighth phase expansion of the 21 Shopping Center has been completed, with an additional business area of 25,111 square meters. The comprehensive goods are on the first floor, the second floor is a super-large-scale clothing Jinxiu City with 21,111 square meters, the third floor is the capital of men, and household items are on the fourth floor. The restaurants and shops on the fifth floor are under construction. Further consolidated its leading and leading position in Wangjiawan business circle. The newly introduced 124 brands have injected new vitality into the business. The introduction of Suning Appliance (112124, Share Bar) has filled the gap in the business category, and the three giants of the telecommunications industry have broken the market practice by operating in the same store. After the overall relocation of the home, on the basis of stabilizing the existing business, we will actively prepare for a brand-new home life museum.

the annual operating income was 247 million yuan, up by 12.27% year on year, and the operating profit was 27.8 million yuan, up by 1.4% year on year.

③. The New Wuzhan Shopping Plaza and the Sports and Leisure Department implement integrated operation to form a benign interaction.

the annual operating income was 78.9 million yuan, and the operating profit was 13.79 million yuan, up by 12.33% and 7.48% respectively.

(2) The Convention and Exhibition Center will give full play to its location and venue advantages, revitalize its existing resources, improve its functional support, adjust its business scope, and form "four centers" with their own characteristics, such as exhibitions, business meetings, square activities, shopping and leisure, and continue to lead the Wuhan Convention and Exhibition Industry, and its comprehensive efficiency is among the best in similar exhibition halls in China. The Convention and Exhibition Center hosted, hosted and co-organized 123 exhibitions in the whole year, and the comprehensive income of the convention and exhibition industry was 51.6 million yuan, an increase of 15.43% over the same period.

(3), vigorously promote the construction of real estate. The group company pays special attention to the two major projects of Hanshang Ginza and 21 Shopping Center, vigorously promotes the project construction, and accumulates power for a new round of great development.

① The construction of Hanshang Ginza Project is in full swing. On the premise of safe and civilized construction, we will improve all kinds of construction procedures, speed up site construction and fund withdrawal, and promote the overall project in an orderly manner. First, continue to do a good job in the work of relocated households. Patiently and meticulously carry out policy propaganda and explanation for relocated households, properly handle demolition disputes and create a good construction environment. The second is to step up the relevant procedures required for project construction. Actively coordinate the relationship with urban management, environmental protection, planning, real estate and other departments, strive for policy support, and obtain three certificates of planning permit, construction permit and pre-sale permit of commercial housing in time. The third is to organize the construction reasonably, and the project is progressing rapidly. Successfully completed the capping of the main structure of buildings A, B and C and 51% masonry construction, the capping of the main structure of buildings D and F, the three-story structure construction of building E and the basement construction. The fourth is to strictly control the quality of the project, strengthen the cooperation among the owner, construction and supervision, and establish a perfect monitoring system to ensure safe construction. The municipal government promoted the Ginza project as a model project to the whole city. Fifth, investment promotion and marketing are booming. Relevant rules and regulations such as Investment Promotion Implementation Plan and Commercial Operation Management Plan have been formulated, and standardized operation has been implemented. Merchants introduced two main stores and reached cooperation intentions with more than 71 sub-main stores. Building D apartments and shops were successfully opened, and all 381 apartments were sold during the year, and the shops were basically sold. Sixth, the financing and sales payment were smooth, which provided financial guarantee for the overall promotion of the project.

the commercial real estate project of the shopping center (future building) was officially launched on ② and 21th. This project is the key project of Wuhan New District and the key commercial development project of Wuhan in 2119. In order to ensure the smooth start of the project, all preparatory work has been stepped up. After many arguments with the construction unit, the best scheme of foundation pit support is determined, and the detection task of test pile is successfully completed. The planning and design conditions of the project have been recognized by the planning department and publicized. The general plan of the project and the general plan of the first phase have passed the examination and approval of the Planning Bureau, and the applications for construction submitted by the departments of gardens, civil air defense, geology, environmental protection and fire protection have also passed the examination and approval, laying a foundation for the project to break ground after the Spring Festival in 2111.

(4), wedding, tourism, foreign trade, no shops and other businesses developed steadily.

Wuhan Wedding Material City has extended outward, opening a new store in Yangzi Street, forming a business pattern of "one store across three streets and a joint exhibition venue for shopping malls", and making every effort to establish a large-scale wedding market in China. Xianning Hot Spring Villa further highlights the management characteristics of "purity, exquisiteness and taste", fully demonstrates the management concept of "keeping healthy hot springs and surrounding forests", and launches new projects such as traditional Chinese medicine keeping healthy soup bath, fish doctor soup bath and sunbathing, highlighting the hot spring brand of "the first soup in Central China" and being listed as a key hot spring management enterprise by the local government. Wuzhan Business Hotel passed the fire inspection and was on the right track. The property management company takes building the brand of "Hanshang Property" as its own responsibility, makes every effort to do a good job in property investment, management and service, and wins the trust of customers.

(5) The shortcomings in operation: the scale of the company is not strong enough, the total sales volume and profit level are not high enough, the self-supporting ability is not strong enough, some problems in development need to be solved, and the scientific management level still needs to be improved, etc., all of which need to be further solved.

[6], the company's asset composition has undergone significant changes year-on-year and the main influencing factors

①, the trading financial assets at the end of the period were 1.627 million yuan, up by 112.65% year-on-year, which was caused by the increase of the fair value of the investment in trading equity instruments at the end of the period by 711,111 yuan;

② The accounts receivable at the end of this period amounted to 3.64 million yuan, down 42.22% year-on-year, mainly due to the increase in cash sales business of the company in 2114 and the timely payment of sales;

③. At the end of this period, the prepaid account was 42.3278 million yuan, up by 96.15% year-on-year, which was mainly due to the expansion of the business norms of household appliances agents in this period and the increase in prepaid purchases at the end of the year of 17.68 million yuan;

④ Other receivables at the end of the period were RMB 14,267,711, down 44.96% year-on-year, which was due to the recovery of the loan and current payment of RMB 9,797,111.11 from Wuhan Hanshangxin Real Estate Co., Ltd. in 2114;

⑤. At the end of this period, the construction in progress was 39,417,111 yuan, up by 35.95% year-on-year, mainly due to the increased investment in the self-operated expansion project of shopping centers in the 21th century;

⑥. Long-term loans reached 85 million yuan at the end of this period, up by 1.11% year-on-year, which mainly increased the long-term loans of China CITIC Bank (611998) and China Everbright Bank;

⑦. At the end of this period, the bills payable amounted to 39 million yuan, an increase of 85.71% over the same period, because the business scale of household appliances agents was expanded in this period, and all purchases of household appliances were settled by commercial bills;

once, the main factors affecting the company's profit and loss

① The financial expenses in the reporting period were 27.6 million yuan, down by 15.13% year-on-year, mainly because some loans were repaid in 2114 to reduce interest;

② During the reporting period, the asset impairment loss was RMB459,311, up by 1.31.19% year-on-year, mainly due to the increase in provision for bad debts in the current period;

③ The net income from changes in fair value during the reporting period was 711,111 yuan, up by 1.38.79% year-on-year, which was mainly due to the increase in fair value of trading financial assets invested;

④ During the reporting period, the investment income was-3,129,411 yuan, down by 2,869.54% year-on-year, mainly because the net profit of Wuhan Hanshangxin Real Estate Co., Ltd. in the current period decreased by 5,137,511 yuan compared with the previous period, which led to the decrease of the investment income of the company calculated by the equity method in the current period.

⑻. Analysis of cash flow

①. During the reporting period, the net cash flow generated by operating activities was 54,454,411 yuan, up by 156.19% year-on-year, due to the increase in commodity sales income and exhibition income in this period;

② During the reporting period, the cash received from the recovery of investment was 1.7317 million yuan, down 85.14% year-on-year, mainly due to the recovery of the investment of Hanfu Supermarket in 2113.

③. The net cash recovered from the disposal of fixed assets, intangible assets and other long-term assets was RMB 16.173 million in the current period, with a year-on-year increase of RMB 1119.11%, which was mainly due to the relocation of some business stores and equipment houses of Wuhan Hanshangxin Real Estate Co., Ltd. and the one-time compensation of RMB 13 million for the company's monetary funds;

④ The cash paid for distributing dividends, profits or paying interest in the current period was 21,514,911 yuan, down 47.11% year-on-year, mainly due to the large amount of interest owed by ICBC (611,398 shares) in the same period;

⑤. The net cash flow from fund-raising activities was-1.8483 million yuan, with a year-on-year decrease of 94.82%, mainly due to new bank loans in this period.