期内，集团继续凭藉其于日本完善的产品能力及网络、强劲的访日旅游需求及海外对日本行程策划的需 求增长，实现整体收益及公司权益股东应占溢利净额较2024年同期分别增长76.4%及334%。销售当地游 业务分部一直为集团的战略重点，自2024年以来贡献本集团超过70%的收益，于回顾期间，集团已实施 多项措施提升销售当地游的毛利率，并在增加产能缓冲及产品范畴多元化方面提升销售当地游的营运能 力。销售当地游的毛利率由二零二四年上半年约20.8%上升约6.4%至2025年上半年约27.2%，整体毛利 率上升约1%。 格隆汇8月29日丨途屹控股(01701.HK)公布中期业绩，2025年上半年，公司收益为人民币1.60亿元，同 比增长76.4%；公司权益股东应占溢利净额为人民币1993.4万元，同比增长334%，基本每股收益人民币 分1.99分。 相关事件 途屹控股(01701.HK)上半年权益股东应占溢利净额1993.4万元 同比增长334% 途屹控股(01701.HK)将于8 月29日召开董事会会议以审批中期业绩 ...

（原标题：途屹控股(01701)发布中期业绩 股东应占溢利1993.4万元 同比增加334%） 智通财经APP讯，途屹控股(01701)发布2025年中期业绩，收益1.6亿元(人民币，下同)，同比增加76.4%; 股东应占溢利1993.4万元，同比增加334%;每股基本盈利1.99分。 ...

途屹控股(01701)发布2025年中期业绩，收益1.6亿元(人民币，下同)，同比增加76.4%;股东应占溢利 1993.4万元，同比增加334%;每股基本盈利1.99分。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容 而引致的任何損失承擔任何責任。 TU YI HOLDING COMPANY LIMITED 途屹控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1701） 截至二零二五年六月三十日止六個月之中期業績公告 途屹控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司及其附屬公司（統稱為「本集 團」）截至二零二五年六月三十日止六個月（「回顧期間」）之未經審核簡明綜合中期業績。 財務概要 | | | 截至六月三十日止六個月 | | | --- | --- | --- | --- | | | 二零二五年 | 二零二四年 | 同比變動 | | | 人民幣千元 | 人民幣千元 | （%） | | 收益 | 159,797 | 90,585 | 76.4 | | 毛利 | 48,183 | 26,483 | 81.9 | | 本公司權益股東應佔溢利淨額 | 19,934 | 4,596 | 334 | | （人民幣分） 每 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容 而引致的任何損失承擔任何責任。 TU YI HOLDING COMPANY LIMITED 途屹控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1701） 董事會會議通知 途屹控股有限公司（「本公司」及其附屬公司，統稱「本集團」）董事（「董事」）會（「董事會」）謹此宣佈，董 事會會議將於二零二五年八月二十九日舉行，以（其中包括）考慮及通過本集團截至二零二五年六月 三十日止六個月的未經審核綜合業績及其刊發，及考慮派發中期股息（如有）。 承董事會命 途屹控股有限公司 主席兼執行董事 虞丁心 中華人民共和國，二零二五年八月十一日 於本公告日期，董事會包括四名執行董事：虞丁心先生、潘渭先生、徐炯先生及安家晉先生及 三名獨立非執行董事：趙劍波先生、周禮女士及應鹿鳴先生。 ...

Financial Performance - The company's revenue for the fiscal year ending December 31, 2024, increased by approximately 130.7% year-on-year, reaching around RMB 213.8 million, up from RMB 92.6 million in 2023[7]. - The overall gross profit margin decreased by about 12.7%, from approximately 36.3% in 2023 to around 23.6% in 2024, primarily due to temporary price discounts to capture market share[7]. - Net profit attributable to equity shareholders was approximately RMB 9.9 million, a year-on-year increase of about 10.9%, driven by an increase in gross profit from RMB 33.6 million in 2023 to RMB 50.5 million in 2024[7]. Revenue Breakdown - Revenue from Japan outbound travel tours increased by approximately 82.2% year-on-year to about RMB 23.5 million, benefiting from a focus on overseas markets and partnerships with international travel agencies[8]. - Revenue from local tours in Japan surged approximately 255.2% year-on-year to around RMB 146.7 million, attributed to enhanced transportation capacity and a broader product selection[8]. - Hotel business revenue increased by about 10.6% in 2024, reaching approximately RMB 21.9 million, with occupancy rates maintained above 90%[8]. - The duty-free shop business experienced a revenue decline of approximately 58.2% in 2024, reflecting a strategic shift in focus[8]. Strategic Plans - The company plans to continue hotel renovations to enhance guest experiences and attract high-end travelers, as well as expand its bus fleet to accommodate larger groups[9]. - Future strategies include launching niche theme tours and exploring emerging destination markets to diversify product offerings[9]. Risk Management and Internal Controls - The company emphasizes risk management and internal controls to maintain operational efficiency and financial transparency, with regular audits and compliance training for staff[10]. - The company has engaged an external professional firm to conduct an annual review of its risk management and internal control systems, ensuring their effectiveness and adequacy[100]. - The audit committee assists the board in overseeing the implementation and effectiveness of risk management and internal control systems[95]. Corporate Governance - The company has adhered to all applicable corporate governance code provisions as per the listing rules, except for the provision C.2.1 regarding the separation of roles between the chairman and CEO[48]. - The board of directors is responsible for overseeing the company's business, strategic decisions, and performance, ensuring objective decision-making in the best interest of the company[51]. - The company has established various committees, including audit, remuneration, and nomination committees, to enhance governance and oversight[48]. Diversity and Inclusion - The board aims to increase the proportion of female directors to at least 20% by 2028, currently having one female director[79]. - The company emphasizes diversity in its recruitment practices across all levels, including the board and senior management[80]. - The workforce composition includes 67 males and 77 females, with a notable increase in the number of employees aged 50 and above from 24 in 2023 to 34 in 2024[172]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report outlines the company's initiatives and performance in sustainability and corporate governance for the year 2024[121]. - The company aims to reduce electricity intensity by 5% by 2030, using 2023 as the baseline year[140]. - The company is committed to implementing internal policies to reduce carbon emissions and achieve decarbonization goals[139]. Employee Development and Welfare - The company achieved a 100% employee training rate this year, with a total training time of 1,183 hours, an increase from 1,056 hours in the previous year[180]. - Employee performance evaluations are conducted at least once a year to recognize hard work and provide improvement feedback[174]. - The company promotes a healthy work-life balance through regular team-building activities and family-inclusive events[175]. Compliance and Legal Matters - The company has established compliance procedures to ensure adherence to significant laws and regulations, with no major violations reported this year[186]. - The company has maintained strict privacy protection for employee and customer data, with no complaints received regarding data security this year[188]. - The company has reported no significant issues related to bribery, extortion, fraud, or money laundering laws during the year[192].

Financial Performance - Total revenue for the year ended December 31, 2024, reached approximately RMB 213.8 million, a year-on-year increase of 130.7% from RMB 92.6 million in 2023[4] - Gross profit for the same period was approximately RMB 50.5 million, up 50.2% from RMB 33.6 million in 2023, although the overall gross margin decreased from 36.3% to 23.6%[5] - Net profit attributable to equity shareholders was approximately RMB 9.9 million, reflecting a 10.9% increase compared to RMB 8.9 million in 2023[4] - Revenue for the year ended December 31, 2024, increased to RMB 213,763,000, a 130% increase from RMB 92,645,000 in 2023[20] - Gross profit for 2024 was RMB 50,536,000, up 50% from RMB 33,642,000 in 2023[20] - Net profit for the year was RMB 9,939,000, representing an 8% increase compared to RMB 9,194,000 in 2023[21] - The company reported a pre-tax profit of RMB 9,890,000 for the year 2024, up from RMB 8,921,000 in 2023[43] Revenue Breakdown - Sales revenue from Japan outbound travel tours increased by approximately 82.2% to about RMB 23.5 million, driven by enhanced overseas market focus and expanded sales channels[6] - Revenue from local tours in Japan surged approximately 255.2% to about RMB 146.7 million, benefiting from a diversified product offering and improved customer experience[6] - Revenue from Japan travel group sales increased by approximately 82.2% to about RMB 235.23 million, reflecting the company's ongoing overseas expansion through partnerships with international travel agencies[14] - Revenue from local tours in Japan surged by approximately 255.2% to about RMB 1.46668 billion, attributed to enhanced transportation capacity and diversified product offerings[14] - Revenue from tour sales and local travel amounted to RMB 184,150,000 in 2024, compared to RMB 59,203,000 in 2023, indicating a growth of 211%[34] Expenses and Costs - Sales and distribution costs increased to RMB 90 million from RMB 34 million, reflecting higher salaries and commissions paid to the sales team[18] - Administrative expenses rose to RMB 69 million from RMB 44 million, driven by increased depreciation and employee-related costs[19] Assets and Liabilities - Total assets less current liabilities amounted to RMB 175,229,000, compared to RMB 172,252,000 in 2023[23] - Current assets increased to RMB 91,577,000, a significant rise from RMB 72,833,000 in 2023[22] - Current liabilities increased to RMB 62,852,000, up from RMB 51,494,000 in 2023[23] - Non-current liabilities decreased to RMB 32,650,000 from RMB 37,201,000 in 2023[23] - The company’s total liabilities for the year 2024 were RMB 161,249,000, compared to RMB 54,850,000 in 2023, reflecting an increase of 194%[41] Operational Insights - The company plans to continue hotel renovations and expand its bus fleet to accommodate larger groups, aiming to attract high-end travelers and enhance customer experience[8] - The company continues to focus on expanding its travel and tourism services, including outbound travel tours and visa application services[24] - The company maintained a diversified travel offering and implemented hedging tools to mitigate economic impacts[12] Risk Management - The company emphasizes risk management and internal controls to ensure operational efficiency and financial transparency, with regular audits and compliance training for staff[9] - The company faces foreign exchange risks due to costs incurred in foreign currencies, particularly Japanese Yen, but currently has no plans to hedge these risks[55] - The company’s interest rate risk is primarily associated with its interest-bearing bank loans, with a policy to mainly use fixed-rate debt[56] - The group faces significant risks including economic downturns in China, currency fluctuations, and increased competition in the travel industry[73] Shareholder Information - The board of directors has recommended not to declare any dividends for the year, consistent with the previous year[45] - The board recommended not to declare a dividend for the year ending December 31, 2024, consistent with the previous year[60] - The company expressed gratitude to shareholders, banks, customers, and suppliers for their support and trust during the year[11] Future Outlook - The company is optimistic about maintaining growth momentum in 2025, focusing on digital marketing and exploring niche travel themes[8] - The company has no plans for significant acquisitions or disposals as of December 31, 2024, indicating a focus on internal growth strategies[52] Employee and Governance - The company employed a total of 144 full-time employees as of December 31, 2024, maintaining a stable workforce[57] - The board of directors includes four executive directors and three independent non-executive directors[79] Meeting and Reporting - The annual general meeting for the year 2024 will be held on May 26, 2025[75] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[77] - The annual report for the year ending December 31, 2024, will be sent to shareholders and published at an appropriate time[77]

Financial Performance - For the six months ended June 30, 2024, the company reported a significant revenue increase of 234.1% and a net profit attributable to equity shareholders growth of 69.2% compared to the same period in 2023[3]. - Revenue for the six months ended June 30, 2024, reached RMB 90,585,000, a significant increase of approximately 233.5% compared to RMB 27,115,000 in the same period of 2023[11]. - The net income for the period was RMB 4,581,000, compared to RMB 2,716,000 in the same period of 2023, reflecting an increase of approximately 68.5%[11]. - The company reported a basic earnings per share of RMB 0.46 for the period, compared to RMB 0.27 in the same period of 2023[11]. - The total comprehensive loss for the six months ended June 30, 2024, was RMB 2,092,000, compared to a total comprehensive income of RMB 1,062,000 for the same period in 2023, indicating a shift from profit to loss[13]. - The company reported a significant loss of RMB 935,000 from financial assets measured at fair value through profit or loss for the six months ended June 30, 2024, compared to a gain of RMB 2,035,000 in the same period of 2023[29]. - The pre-tax profit for the company increased significantly to RMB 4,596,000 for the six months ended June 30, 2024, compared to RMB 2,716,000 for the same period in 2023, marking an increase of approximately 69.2%[34]. Revenue Sources - Revenue from overseas customers exceeded 80% in the first half of 2024, a substantial increase from over 30% in the same period of 2023[3]. - Revenue from local tours accounted for 73.0% of total revenue in the first half of 2024, up from 24.7% in the first half of 2023[6]. - Sales from local tours and travel packages increased by approximately 888.9% and 105.1% respectively compared to the same period in 2023, driven by expansion into overseas markets[7]. - Revenue from tour sales and local tours was RMB 78,135 thousand, up from RMB 12,542 thousand year-on-year, indicating a growth of about 523%[22]. - Revenue from visa application services was RMB 1,220 thousand, down from RMB 2,703 thousand, indicating a decline of about 54.7%[22]. - The duty-free shop business generated revenue of RMB 1,240 thousand, down from RMB 3,403 thousand, representing a decrease of approximately 63.5%[22]. - Geographic revenue breakdown shows that revenue from China was RMB 80,680 thousand, a significant increase from RMB 15,832 thousand, reflecting a growth of about 409%[26]. Operational Developments - The company plans to strengthen its expansion in North America, Europe, and Southeast Asia while exploring new opportunities in the Middle East and South America[4]. - The company is developing a tourism bus company and acquiring high-end tourist buses to consolidate its competitive position in Japan[5]. - The company aims to enhance its information technology systems to improve integration with overseas travel partners and channels[5]. - The company is committed to launching customized high-value travel products tailored for the competitive Chinese market[4]. - The hotel business achieved an occupancy rate of over 90%, maintaining a gross margin of over 80%[8]. Financial Position - Total assets as of June 30, 2024, were RMB 166,424,000, a decrease from RMB 172,252,000 as of December 31, 2023[12]. - The net cash and cash equivalents as of June 30, 2024, were RMB 37,486,000, slightly down from RMB 38,093,000 as of December 31, 2023[12]. - For the six months ended June 30, 2024, the company's total equity attributable to shareholders was RMB 132,959,000, a decrease from RMB 135,051,000 as of January 1, 2024, representing a decline of approximately 1.6%[13]. - The net cash flow from operating activities for the six months ended June 30, 2024, was a negative RMB 22,000, compared to a positive RMB 3,078,000 in the same period of 2023, indicating a significant decline in operational cash generation[14]. - The company reported a net cash inflow from investing activities of RMB 2,268,000 for the six months ended June 30, 2024, compared to RMB 346,000 in the same period of 2023, reflecting an increase of approximately 553%[14]. - The net cash outflow from financing activities was RMB 1,280,000 for the six months ended June 30, 2024, down from RMB 1,649,000 in the same period of 2023, showing a reduction of about 22.4%[14]. - The company's cash and cash equivalents at the end of June 30, 2024, were RMB 37,486,000, an increase from RMB 31,406,000 at the end of June 30, 2023, representing a growth of approximately 19.4%[14]. Shareholder Information - Major shareholders, including Mr. York Yu, hold a combined 70.23% of the company's shares, totaling 702,312,000 shares[49]. - Major shareholders include York Yu Co., Ltd with 418,725,000 shares (41.87%), David Xu Co., Ltd with 50,025,000 shares (5.00%), King Pan Co., Ltd with 121,062,000 shares (12.11%), and Jeffery Xu Co., Ltd with 112,500,000 shares (11.25%) [52]. - The total number of shares held by controlling shareholders, including Mr. Yu Dingxin, Mr. Pan Wei, and Mr. Xu Jiong, is 702,312,000 shares, representing 70.23% of the total shares [52]. - The company’s issued and fully paid share capital remained at RMB 8,797,000 as of June 30, 2024, unchanged from December 31, 2023[46]. Risks and Challenges - The company faces foreign exchange risks due to costs incurred in foreign currencies, including Japanese Yen, Australian Dollar, and New Zealand Dollar, but currently has no plans to hedge against these risks[58]. - The company is exposed to interest rate risks primarily related to its bank borrowings, with a policy to manage interest costs using fixed-rate debt[59]. - The group’s business is significantly impacted by risks related to the economic, political, or social environment in Japan, which is the most popular destination for its travel products[72]. - Changes in visa application policies by the Chinese and Japanese governments may adversely affect the group's business and revenue[73]. - Fluctuations in the Japanese yen exchange rate will impact the group's operational performance and financial condition[73]. - A significant portion of the group's revenue comes from Chinese customers, and a downturn in the Chinese economy could have a major negative impact on the group's business and performance[73]. - The group faces intensified market competition from travel agencies, hotels, flight suppliers, online travel platforms, and alternative booking channels[73]. - Natural disasters, terrorist threats, wars, and outbreaks of infectious diseases could adversely affect consumer demand for travel activities, impacting the group's business[73]. - The group may face actions from the Chinese government if contractual arrangements are deemed non-compliant with applicable laws, rules, regulations, or policies[73]. Corporate Governance - The company’s financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[16]. - The company has not reported any significant contingent liabilities as of June 30, 2024, and December 31, 2023[57]. - The group maintains compliance with the public float percentage required by the listing rules as of the report date[70]. - The group operates its outbound tourism business through contractual arrangements due to restrictions on foreign ownership in this sector[71]. - There have been no significant events affecting the group since June 30, 2024, indicating stability in operations[57].

Financial Performance - The company reported a revenue of RMB 90,585,000 for the six months ended June 30, 2024, representing a 234.1% increase compared to RMB 27,115,000 in the same period of 2023[1]. - Gross profit for the same period was RMB 26,483,000, up 107.1% from RMB 12,785,000 year-on-year[1]. - Net profit attributable to equity shareholders was RMB 4,596,000, reflecting a 69.2% increase from RMB 2,716,000 in the previous year[1]. - Revenue for the six months ended June 30, 2024, was RMB 90,585,000, a significant increase from RMB 27,115,000 in the same period of 2023[8]. - Gross profit for the same period was RMB 26,483,000, compared to RMB 12,785,000 in 2023, indicating a strong recovery in profitability[8]. - The group reported a pre-tax profit of RMB 4,596,000 for the six months ended June 30, 2024, compared to RMB 2,716,000 for the same period in 2023, representing an increase of 69%[26]. - Basic earnings per share for the period were RMB 0.46, compared to RMB 0.27 in the same period of 2023[9]. - The company reported a pre-tax profit of RMB 4,501,000 for the six months ended June 30, 2024, up from RMB 2,674,000 in the previous year[8]. Revenue Sources - The company achieved over 80% of its revenue from overseas customers in the first half of 2024, a significant increase from over 30% in the same period of 2023[2]. - Revenue from tour sales and local travel reached RMB 78,135,000, up from RMB 12,542,000, marking a growth of 523%[18]. - The net income from free travel products increased to RMB 1,320,000 from RMB 332,000, reflecting a growth of 297%[18]. - The group’s hotel business generated revenue of RMB 8,670,000, slightly up from RMB 8,135,000, indicating a growth of 7%[17]. - Revenue from visa application services decreased to RMB 1,220,000 from RMB 2,703,000, a decline of 55%[17]. Operational Efficiency - The gross margin decreased from 47.2% in the first half of 2023 to 29.2% in the first half of 2024, primarily due to changes in the sales mix[2]. - The company aims to enhance its information technology systems to improve operational efficiency and competitiveness[4]. - Hotel operations maintained an occupancy rate of over 90%, with gross margins remaining above 80%[6]. Strategic Plans - The company plans to strengthen its expansion in North America, Europe, and Southeast Asia, while exploring new opportunities in the Middle East and South America[3]. - The company is developing a tourism bus company and acquiring high-end tourist buses to consolidate its competitive position in Japan[4]. - The company plans to utilize RMB 17,600,000 for the acquisition of hotel assets in Kyoto, Japan, as part of its strategic expansion[34]. Financial Position - Current liabilities increased to RMB 58,306,000 from RMB 51,494,000 year-on-year, reflecting growth in operational activities[10]. - Total assets decreased to RMB 166,424,000 from RMB 172,252,000 year-on-year, indicating a slight contraction in asset base[10]. - Non-current liabilities, specifically interest-bearing bank loans, decreased to RMB 27,955,000 from RMB 31,215,000 year-on-year, showing improved debt management[12]. - The company's total equity attributable to shareholders was RMB 130,761,000, down from RMB 132,825,000 in the previous year, reflecting changes in retained earnings and reserves[12]. - The total bank borrowings as of June 30, 2024, were RMB 231,812,000, with a weighted average interest rate of 1.88%[30]. Expenses and Liabilities - Administrative expenses increased by approximately 50.7% compared to the same period in 2023, attributed to the recovery and expansion of the company's business scale[7]. - The group’s total liabilities included bank loan interest of RMB 539,000 and lease liabilities interest of RMB 7,000 for the six months ended June 30, 2024[22]. - The aging analysis of accounts receivable shows that amounts overdue by 1 to 30 days increased to RMB 16,095,000 from RMB 11,554,000 year-on-year[28]. Dividend and Shareholder Returns - The company does not recommend the distribution of an interim dividend for the six months ended June 30, 2024, to retain sufficient liquidity for future growth and expansion[2]. - The company reported no dividend payment recommendation for the six months ending June 30, 2024, consistent with the previous year[28]. - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[38]. Corporate Governance - The company has adopted strict corporate governance principles to enhance transparency and accountability to shareholders[41]. - The audit committee reviewed the interim results for the six months ended June 30, 2024, ensuring compliance with accounting principles[43]. - The remuneration committee is responsible for evaluating the performance of directors and senior management, as well as assessing the company's share incentive plans[44]. Employment and Compensation - The company employed a total of 133 full-time employees as of June 30, 2024, with compensation packages including salaries, bonuses, and benefits[36]. - The company’s management compensation for the six months ending June 30, 2024, totaled RMB 1,263,000, slightly down from RMB 1,308,000 in the previous year[33]. Other Information - There were no significant events affecting the company after June 30, 2024, up to the announcement date[35]. - The company has no significant contingent liabilities as of June 30, 2024[35]. - There were no significant investments or acquisitions during the six months ended June 30, 2024[40].

Financial Performance - The company's revenue for the year ended December 31, 2023, increased to approximately RMB 926.45 million, representing a 252% increase compared to the previous year[7]. - The net profit attributable to equity shareholders was approximately RMB 89 million, a significant turnaround from a net loss of approximately RMB 185 million in the previous year[7]. - Revenue from overseas customers increased to over 60% in 2023, with significant growth in day tours, hotel operations, and travel group sales, which rose by approximately 9,538%, 225%, and 345% respectively compared to 2022[8]. - The hotel business achieved a gross profit margin of approximately 56%, a substantial increase of about 26% from the previous year, with an occupancy rate exceeding 90%[8]. - Revenue from local tours and travel packages in Japan increased by approximately 9,538% and 345% respectively compared to 2022, with overseas customer revenue exceeding 60% in 2023[15]. - Hotel business revenue rose from approximately RMB 6.1 million in 2022 to about RMB 19.8 million in 2023, with a gross margin increase from around 30% to approximately 56%[16]. - The duty-free shop business revenue decreased by about 66%, attributed to customers preferring in-store shopping in Japan over online purchases[17]. - Other income and gains/losses netted approximately RMB 2.0 million in 2023, compared to a loss of RMB 2.3 million in 2022, with interest income from loans to third parties at approximately RMB 1.7 million[19]. - Administrative and other expenses increased by approximately RMB 9.0 million due to a focus on developing overseas markets[22]. Business Strategy and Development - The company plans to achieve a balanced development in overseas and Chinese markets in 2024, aiming for overseas customer revenue to reach 80%[9]. - The company aims to diversify business risks by collaborating with more overseas partners and enhancing product offerings in the Chinese market[9]. - The company plans to acquire hotel assets in Kyoto, with an expected unutilized net proceeds of RMB 17.6 million for this purpose[24]. - The company will focus on enhancing service quality in the hotel business through facility upgrades and sustainable practices to align with global trends[9]. Corporate Governance - The company has a strong commitment to corporate governance, adhering to all applicable code provisions except for C.2.1, which states that the roles of Chairman and CEO should be separate[53]. - The board consists of four executive directors and three independent non-executive directors, bringing diverse industry experience to enhance decision-making[59]. - The company has implemented a standard code for securities trading by directors and relevant employees, ensuring compliance with regulations[55]. - The Chairman, Mr. Yu Dingxin, has been leading the board since February 27, 2018, and is responsible for promoting effective corporate governance practices[60]. - The company has established a three-year service contract for each executive and independent non-executive director, ensuring stability in leadership[64]. - All independent non-executive directors have confirmed their independence according to the listing rules, contributing to the board's integrity[61]. - The company has a structured approach to board meetings, regularly reviewing the contributions of directors to ensure accountability[57]. - The company has a clear framework for the appointment and re-election of directors, with one-third of the board required to retire at each annual general meeting[64]. - The company emphasizes the importance of internal control measures to enhance transparency and accountability to shareholders[53]. - The company has a dedicated company secretary with over 20 years of experience in compliance and corporate governance, supporting effective board operations[50]. Risk Management and Internal Controls - The company has established a risk management and internal control system aimed at managing risks rather than eliminating them, providing reasonable assurance against significant misstatements or losses[108]. - The external professional firm responsible for internal audit functions has been engaged to conduct an annual review of the risk management and internal control system, ensuring its effectiveness and adequacy[114]. - The board and audit committee found no significant internal control deficiencies during their review of the risk management and internal control systems[114]. - The company has developed risk management policies to identify and mitigate climate-related risks, including acute and chronic physical risks from extreme weather events[196]. - The company is monitoring legal and regulatory changes related to climate change to avoid increased costs and reputational risks, while also implementing greenhouse gas reduction measures[198]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report outlines the company's initiatives and performance in sustainability for the year 2023[139]. - The ESG report covers operations in China and Japan, including the company's offices in Hangzhou and Shanghai, and its hotels in Japan[140]. - The report period for the ESG initiatives spans from January 1, 2023, to December 31, 2023[141]. - The company aims to enhance ESG data disclosure and welcomes feedback from stakeholders regarding its sustainability performance[148]. - The company aims to reduce electricity, water, greenhouse gas emissions, and waste generation density by 5% by 2030, using 2023 as the baseline year[164]. - The board actively integrates sustainability principles into daily management and operations, ensuring alignment with growth strategies[150]. - The company emphasizes stakeholder engagement to identify significant environmental, social, and governance issues, including product quality and supply chain management[154]. - The company is committed to achieving carbon neutrality by 2050 and has set specific environmental key performance indicators[163]. - The company prioritizes responsible tourism, employee rights and welfare, and waste management as key issues in its sustainability strategy[160]. - The company implements green management measures to reduce carbon emissions and mitigate negative environmental impacts[162]. Shareholder Communication and Rights - The board is responsible for maintaining ongoing dialogue with shareholders, particularly during annual general meetings[106]. - The company ensures shareholder rights by presenting independent resolutions for significant matters at shareholder meetings, with voting results published post-meeting[127]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of their request[128]. - The company maintains effective communication with shareholders through various channels, emphasizing the importance of dialogue during annual general meetings[133]. - The company has implemented a shareholder communication policy to address shareholder concerns and ensure timely information disclosure[134].