[Table_Title] 2023 年报点评：业绩全面复苏，关注新项目表现 [ 复Ta 星bl 旅e_ 游Rep 文or 化tD (a 1t 9e 9] 2 .HK)公司简评报告 | 2024.04.08 [评Ta级ble：_R an增k]持 核心观点 [ Table_Authors] ⚫⚫ [事Ta件bl：e_公Su司mm公a告ry] 2023 年业绩。2023 年公司实现收入 171.52 亿元，同 于那 比+24.5%；归母净利润3.07亿元，同比实现扭亏为盈；经调整EBITDA 首席分析师 37.30亿元，同比+59.1%。23年公司Club Med、三亚亚特兰蒂斯、度假 SAC执证编号：S0110522070001 资产管理中心和复游会四大业务板块营业额共 181.25 亿元，同比 yuna3@sczq.com.cn 电话：021-58820297 +18.8%。随着全球疫情限制解除和疫后强劲的度假需求释放，公司全球 业务实现全面复苏。23年公司毛利润实现55.95亿元，同比+40.2%，毛 [市Ta场bl指e数_Ch走ar势t]（ 最近1年） 利率达32.62%/+3.66pcts，盈利能力实现 ...

事件 2024 年 3月 14日公司公告2023业绩，收入 171.5 亿元/+24.5%， 归母净利3.1 亿元、扭亏；经调整EBITDA 37.3 亿元/+59.1%、经 调整EBITDA 率21.7%/+4.7pct。 点评 旅游运营全面恢复并超越19年，对地产销售依赖度进一步下降。 23年公司旅游运营营业额181.3 亿元/+18.8%、较 19年+27.9%， 业务全面复苏并超越19年。分业务拆分收入，Club Med 及其他/ 三亚亚特兰蒂斯/度假资产管理中心/复游会及相关业务分别 141.6/17.6/10.6/1.7 亿元、同比+22.3%/+96.3%/-5.6%/-2.6%， 其中地产销售收入 9.3 亿元，占总收入 5.4%/-2.2pct、较 19 年 -14.4pct，对地产业务依赖度已较19年有明显下降。盈利能力看， Club Med 及其他/三亚亚特兰蒂斯/度假资产管理中心/复游会及 港币(元) 成交金额(百万元) 相 关 业 务 毛 利 率 分 别 29.0%/50.0%/48.0%/64.1% 、 同 比 11.00 70 +1.8/+17.7/+7.1/-1.9pct，经营 ...

股 票 研 究 [Table_industryInfo] 社会服务业 [ Table_Main[复I Tnaf 星bol]e 旅_Ti游tle]文 化（1992） [评Tab级le_：Inv est] 增持 当前价格（港元）： 4.21 结构性优化，海外高端需求继续回暖 2024.03.18 海 ——复星旅文2023 年业绩点评 [ 交Ta易bl数e_M据a rket] 外 刘越男(分析师) 庄子童(研究助理) 52周内股价区间（港元） 3.94-10.50 当前股本（百万股） 1,243 公 021-38677706 021-38032683 当前市值（百万港元） 5,235 司 liuyuenan@gtjas.com zhuangzitong026312@gtjas.com 证书编号 S0880516030003 S0880122050050 （ [ Table_PicQuote] 中 本报告导读： 52周内股价走势图 国 2023H2 海外高端需求继续回暖，其中亚太地区价好于量；房地产销售业务占比大幅 复星旅游文化 恒生指数 下降，旅游运营主业聚焦后有望集中管理资源、加速盈利端修复。 香 10% 摘要： ...

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，概不對因本公告全部或任何部份內容 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。 財務摘要 Fosun Tourism Group 復星旅遊文化集团 （根據開曼群島法律註冊成立的有限公司） （股份代號：1992） 年度業績公告 截至2023年12月31日止年度 | --- | --- | --- | |------------------------------------------|-------------------------|-----------------------| | | 截至 12 月 31 \n2023 年 | 日止年度 \n2022 年 | | | 人民幣千元 | 人民幣千元 （已重述） | | | | | | 收入 | 17,151,841 | 13,777,710 | | Club Med 及其他 | 14,157,086 | 11,579,576 | | 三亞亞特蘭蒂斯 | 1,760,733 | 896,851 | | 度假資產管理中心 | 1,0 ...

智通财经APP获悉，复星旅游文化(01992)最高涨超10%，截至发稿，涨4.73%，报4.21港元，成交额 770.46万港元。 消息面上，复星旅游文化午间发布盈喜公告，截至2023年12月31日止12个月期间，预计集团旅游运营的 营业额(以不变汇率计)同比增长不低于15%，较截至2019年12月31日止12个月期间增加不低于25%，大 幅超越疫情前集团的表现。集团2023年归属于公司股东的盈利预计将不低于人民币2.7亿元，同比实现 扭亏为盈。 ...

中期報告 2023 度假让 主活更美好 BETTER HOLIDAY BETTER LIFE 复星旅文 FOSUN Holiday 复 星 旅 游 汶 化 集 团 ＦＯＳＵＮ ＴＯＵＲＩＳＭ ＧＲＯＵＰ 根 據 開 曼 群 島 的 法 律 註 冊 成 立 的 有 限 公 司 (股份代號: 01992) 目錄 | --- | --- | |------------------------|-------| | | | | 財務摘要 | 2 | | 業務回顧 | 4 | | 管理層討論與分析 | 40 | | 獨立審閱報告 | 51 | | 簡明中期合併損益表 | 52 | | 簡明中期合併綜合收益表 | 53 | | 簡明中期合併財務狀況表 | 54 | | --- | --- | |--------------------------|-------| | | | | 簡明中期合併權益變動表 | 56 | | 簡明中期合併現金流量表 | 58 | | 簡明中期合併財務信息附註 | 62 | | 法定披露 | 86 | | 公司資料 | 107 | | 詞彙定義 | 109 | 財務摘要 2 复星旅游文化集團 ...

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，概不對因本公告全部或任何部份內容 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。 財務摘要 Fosun Tourism Group 復星旅遊文化集团 （根據開曼群島法律註冊成立的有限公司） （股份代號：1992） 中期業績公告（未經審核） 截至2023年6月30日止六個月 | --- | --- | --- | |-------------------------------------------|------------------------|----------------------| | | 截至 6 月 30 \n2023 年 | 日止六個月 \n2022 年 | | | 人民幣千元 | 人民幣千元 | | | | （已重述） | | | | | | 收入 | 8,898,817 | 6,416,543 | | Club Med 及其他 | 7,500,779 | 5,599,878 | | 三亞亞特蘭蒂斯 | 928,456 | 490,362 | | 度假資產管理中 ...

Financial Performance - In 2022, the group's tourism operations revenue increased by 85% year-on-year to RMB 14.503 billion, with adjusted EBITDA rising over tenfold to RMB 2.345 billion[7]. - The loss attributable to shareholders narrowed significantly to RMB 544.9 million in 2022, compared to RMB 2.718 billion in 2021[7]. - The group's revenue increased from RMB 9,261.5 million in 2021 to RMB 13,777.7 million in 2022, representing a growth of 48.5%[15]. - The group's operating revenue from tourism operations rose from RMB 7,853.4 million in 2021 to RMB 14,502.8 million in 2022, marking an increase of 84.7%[15]. - Adjusted EBITDA grew significantly from RMB 213.1 million in 2021 to RMB 2,344.9 million in 2022[15]. - Total revenue for the year ended December 31, 2022, reached RMB 12,011.4 million, a significant increase of 108.6% compared to RMB 5,763.4 million in 2021[26]. - The company achieved a free cash flow of RMB 1,784.8 million in 2022, a 213.1% increase from 2021[28]. - The operating profit for 2022 was RMB 593.5 million, a significant recovery from an operating loss of RMB 1,444.3 million in 2021[77]. - The company recorded a net loss of RMB 531.8 million in 2022, a significant improvement from a net loss of RMB 2,787.5 million in 2021[77]. Revenue Sources - Club Med's revenue more than doubled to RMB 12.11 billion, nearly recovering to 2019 levels, supported by an upgraded resort portfolio[7]. - The Atlantis Sanya achieved a revenue of RMB 877 million with 2.9 million visitors despite only three months of normal operations[7]. - Revenue from the Europe, Africa, and Middle East region reached RMB 7,974.7 million, growing 116.2% compared to 2021[28]. - The Americas region saw a revenue increase of 88.7% in 2022 compared to 2021, with a total revenue of RMB 2,861.2 million[28]. - Casa Cook and Cook's Club hotel brands recorded a total revenue of RMB 597 million in 2022, representing a 92.5% increase compared to 2021[41]. Operational Developments - The company is focusing on the new tourism consumption trends, emphasizing "vacation-style living" and "lifestyle vacation" as core strategic directions for future development[10]. - The Taicang resort project is set to open in the second half of 2023, introducing new leisure vacation options for families in the Yangtze River Delta region[7]. - The company plans to renovate and expand several resorts in 2023 and 2024 to enhance facilities and customer satisfaction[28]. - Club Med plans to open 17 new resorts or spaces by the end of 2025, expecting overall capacity to increase by 20.0% or more compared to 2022[33]. - The company has expanded its portfolio with new resorts, including the recent addition of 1,298 beds in Cancun, Mexico, and 911 beds in Italy's Pragelato[36]. Customer Engagement - The number of customers served in the year ended December 31, 2022, was 1,304 thousand, up 63.9% from 795 thousand in 2021[25]. - The average occupancy rate for new resorts in the Americas was 52.8% and 70.3% for others in 2022[28]. - The average occupancy rate of global resorts reached 71.7% in early 2023, with capacity increasing by 21.1% compared to 2022[33]. - The average daily room rate for Casa Cook and Cook's Club hotels was approximately RMB 942.05[43]. Strategic Initiatives - The company aims to create a leading family leisure vacation ecosystem, emphasizing the integration of vacation experiences with daily life and work[10]. - Future strategies include attracting strategic investors and funds to jointly develop tourism destination projects[12]. - The company plans to leverage its global operational capabilities to enhance its market position in the tourism industry[12]. - The company aims to enhance its membership system by categorizing members into consumer, employee, and corporate members[12]. Governance and Management - The board has achieved gender diversity with 1 female director and 10 male directors, and aims to further enhance gender diversity in the future[125]. - The company has implemented a board diversity policy since 2018, reviewing diversity aspects such as gender, age, and professional experience annually[125]. - The company has adopted a director nomination policy that considers potential contributions to board diversity when selecting new candidates[125]. - The audit committee, consisting of four independent non-executive directors, reviewed financial statements and reports before submission to the board[137]. - The company has established a zero-tolerance policy towards fraud, encouraging stakeholders to report any misconduct through various channels[151]. Financial Management - The total debt as of December 31, 2022, was RMB 23,239.5 million, a decrease from RMB 13,263.5 million as of December 31, 2021, excluding lease liabilities[95]. - Cash and bank balances decreased by 34.2% to RMB 2,984.2 million as of December 31, 2022, compared to RMB 4,535.4 million at the end of 2021[95]. - The income tax expense decreased from RMB 381.4 million in 2021 to RMB 128.6 million in 2022, mainly due to land value tax related to property sales[89]. - The company plans to balance short-term cost savings with long-term benefits and flexibility in future operations[92]. Market Trends - The recovery of business in the Americas and Europe exceeded 2019 levels, while the Asia-Pacific region remained significantly below pre-pandemic levels[20]. - The company is exploring potential acquisitions to further strengthen its market position and diversify its offerings[36]. - The company emphasizes a mix of ownership and rental management models, with 12 properties owned and 22 managed under rental agreements[35]. Future Outlook - The company plans to expand its offerings in Hainan and Yunnan, launching "Hotel+" combination products with an order volume of 25,000[74]. - The company aims to enhance guest experiences through continuous investment in property upgrades and new technology[35]. - The company is committed to developing new strategies for growth and market expansion, particularly in the tourism sector[168].

[0 -> 24] 那公司与昨晚呢已经挂网了截至2022年12月31日止的年度业绩公告那么今天值此发布会之际我们有幸邀请公司的管理层为各位解读2022年的业绩公司的最新发展及发展战略首先请允许我介绍今天与会的管理层复兴旅文执行董事董事长徐晓亮先生 [29 -> 42] 复兴旅文总裁首席运营官曹明龙先生复兴旅文执行董事联席总裁Climate中国区CEO徐炳彬先生 [45 -> 67] 复兴旅文执行董事首席财务官蔡贤安先生那同时呢有两位欧洲的管理层以视频录播的形式和大家参与今天的交流他们是复兴旅文执行董事联席首席执行官及克拉麦的CEO Henry-Henri Giscard d'Estaing [68 -> 97] 克拉麦的副首席执行官及首席财务官米什沃福夫斯基那今天的发布会呢分成两个部分首先由我们的管理层就2022年的业绩最新发展和战略做分享那接下来我们有20到25分钟的一个问答环节那接下来正式进入发布环节首先由许董事长开场今天的分享啊sorry首先由我们的啊啊曹明荣先生开场今天的分享谢谢 [102 -> 110] 各位來賓各位朋友大家上午好很高興歡迎大家來這裡參加我們的2022年的業績發布會 [111 -> ...

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，概不對因本公告全部或任何部份內容 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。 Fosun Tourism Group 復星旅遊文化集团 （根據開曼群島法律註冊成立的有限公司） （股份代號：1992） 年度業績公告 截至2022年12月31日止年度 財務摘要 | --- | --- | --- | |----------------------------|--------------------------------------|------------------------------------------| | | 截至 12 月 31 \n2022 年 人民幣千元 | 日止年度 \n2021 年 人民幣千元 （已重述） | | | | | | 收入 | 13,777,710 | 9,261,473 | | 度假村及旅遊目的地運營 | 10,405,733 | 6,140,192 | | 旅遊相關物業銷售及建造服務 | 1,336,051 | 2,136,920 | | ...