Financial Performance - The company's operating revenue for the first half of 2021 was CNY 349,253,091.99, representing a 61.74% increase compared to CNY 215,932,917.53 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was CNY 11,702,115.47, a significant increase of 151.69% from CNY 4,649,506.51 in the previous year[17]. - The net cash flow from operating activities was CNY 14,507,938.89, recovering from a negative cash flow of CNY -27,099,203.18 in the same period last year[17]. - The total assets at the end of the reporting period were CNY 554,933,832.47, an increase of 8.19% from CNY 512,924,400.91 at the end of the previous year[17]. - The net assets attributable to shareholders increased by 21.52% to CNY 176,614,369.31 from CNY 145,337,648.44 at the end of the previous year[17]. - The basic earnings per share for the first half of 2021 were CNY 0.0232, up 152.17% from CNY 0.0092 in the same period last year[18]. - The weighted average return on net assets increased to 7.74%, up by 5.77 percentage points from 1.97% in the previous year[19]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of CNY -14,789,170.71, compared to CNY -283,862.84 in the same period last year[17]. Subsidiary Performance - The subsidiary Xinxin Zhongshi generated revenue of 268.47 million yuan, reflecting a growth of 25.19% year-on-year, but reported a net loss of 10.45 million yuan[27]. - The subsidiary Guolian Culture achieved revenue of 67.81 million yuan, with a net loss of 2.34 million yuan, but showed signs of profitability in monthly operations[30]. Financing and Investment - The company secured total financing of 85 million yuan in the first half of 2021, including 75 million yuan in new financing and 10 million yuan in loan renewals[29]. - The company is actively pursuing investment and acquisition opportunities in the tourism consumption sector to enhance profitability and risk resilience[27]. - The company has established strong partnerships with financial institutions across several provinces, enhancing its financing capabilities[29]. Operational Strategies - The internet marketing business remains the primary revenue source, with ongoing efforts to innovate and expand into new advertising sectors[25]. - The personalized travel service business is expanding, with a focus on outdoor tourism and operational improvements, achieving a 90% occupancy rate in guest rooms from March to May[30]. - The tourism destination construction and operation business has developed multiple products, including immersive art experiences and outdoor activities, indicating a positive growth trend[30]. - The company is focused on enhancing its operational strategies and market expansion efforts[63]. Legal Matters - The company is currently involved in a legal process regarding a loan dispute with Beijing Yijin Hotel, with a claim amount of RMB 66,962,568.87[68]. - The company has been involved in a series of legal disputes that may impact its financial performance and operational strategy[70]. - The company is actively pursuing legal rights to enforce debt obligations against the defendants in ongoing litigation[69]. - The company is awaiting the outcome of several lawsuits, including those related to profit compensation claims[70]. - The company has incurred legal costs related to ongoing litigation, affecting its financial outlook[80]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,498[93]. - The largest shareholder, Jiangxi Tourism Group Co., Ltd., held 98,803,000 shares, accounting for 19.57% of total shares[95]. - The second-largest shareholder, Xiamen Contemporary Tourism Resources Development Co., Ltd., held 57,936,660 shares, representing 11.47%[96]. - The company did not experience any changes in its total share capital or share structure during the reporting period[92]. Financial Stability - The total liabilities and equity at the end of the reporting period is CNY 582,509,996.6, indicating a stable financial position[132]. - The company’s total liabilities decreased by CNY 12,491,790.00 compared to the previous period, indicating improved financial stability[145]. - The company’s total assets at the end of the first half of 2021 were CNY 592,354,995.50, reflecting a solid asset base for future operations[140]. Compliance and Accounting - The financial statements are prepared based on the principle of going concern, with no significant doubts about the company's ability to continue operations in the next 12 months[152]. - The company adheres to the accounting standards for enterprises, ensuring that financial reports reflect true and complete financial conditions[153]. - The company includes all subsidiaries in its consolidated financial statements, ensuring uniform accounting policies across entities[158].

Financial Performance - The net profit attributable to shareholders for 2020 was CNY 14,494,505.46, with an undistributed profit of CNY -364,340,523.06[5] - The company did not propose any profit distribution or capital reserve transfer due to negative undistributed profits at the end of 2020[5] - The company's operating revenue for 2020 was CNY 522,299,747.01, an increase of 47.14% compared to CNY 354,970,862.79 in 2019[21] - The net profit attributable to shareholders in 2020 was CNY 14,494,505.46, a significant recovery from a loss of CNY 190,094,288.44 in 2019[21] - The basic earnings per share for 2020 was CNY 0.0287, compared to a loss of CNY 0.3765 per share in 2019[22] - The weighted average return on equity increased to 6.02% in 2020, up 59.04 percentage points from -53.02% in 2019[22] - The company reported a non-recurring loss of CNY 17,306,300.18 for 2020, with total revenue excluding non-core business income at CNY 520,763,643.58[23] - The total amount of non-recurring gains and losses for 2020 was CNY 31,800,805.64, compared to CNY 11,745,289.62 in 2019[29] - The company reported a significant increase in prepayments, which rose by 96.31% to ¥50.02 million, reflecting higher media payments[62] - The company reported a net profit attributable to ordinary shareholders of RMB 14,494,505.46 for 2020, with no cash dividend distribution proposed[79] Legal and Governance Issues - The company faced non-operating fund occupation issues from the former controlling shareholder, which were addressed through legal measures and subsequent debt transfer[7][8] - The company successfully resolved over 20 legal disputes, stabilizing governance and protecting interests[40] - The company is involved in multiple ongoing lawsuits, including a claim for economic damages of RMB 20 million related to a shareholder dispute[91] - The company has taken legal action against former executives for damages to company interests, involving seven defendants[90] - The company is actively pursuing legal remedies to resolve disputes related to shareholder agreements and capital contributions[91] - The company is currently facing a second-instance appeal regarding a previous court ruling, with the outcome still pending[96] - The company is appealing a first-instance judgment regarding its board resolutions and is seeking to overturn the decision[95] Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[6] - The company has detailed potential risks in the "Discussion and Analysis of Operating Conditions" section of the report[10] - The company faces risks related to market demand fluctuations, intensified competition, and accounts receivable recovery[75][76] - The company plans to address challenges such as small net asset scale and weak financing conditions in 2021[42] Asset and Liability Management - The company's total assets decreased by 8.20% to CNY 512,924,400.91 at the end of 2020, down from CNY 558,715,779.77 in 2019[21] - The net assets attributable to shareholders decreased by 37.79% to CNY 145,337,648.44 at the end of 2020, compared to CNY 233,633,027.82 in 2019[21] - The company’s total liabilities decreased by 33.63% in short-term borrowings, reflecting improved financial stability[62] - The company reported a total investment amount of 87.68 million yuan at the end of the reporting period, a decrease of 4.94% compared to the beginning of the period[66] Future Outlook and Strategy - The company plans to achieve an operating income of 957.29 million yuan in 2021, representing a year-on-year growth of 83.28%[74] - The total assets are projected to reach 866.83 million yuan in 2021, an increase of 69.00% year-on-year[74] - The company aims to optimize its asset structure through project investments and mergers to enhance profitability and risk resistance[72] - The company will focus on expanding its business in the tourism and entertainment sectors, leveraging the growing consumer demand[70] - The company plans to enhance its financing structure by exploring various financing methods and optimizing its debt structure[72] Operational Efficiency - The net cash flow from operating activities was -CNY 51,662,026.71, worsening from -CNY 42,120,779.23 in 2019[21] - The company’s operating cash flow net amount was -51.66 million yuan, indicating an increase in cash payments for goods and services[46] - The company reported a total cash inflow from operating activities increased to 559,511,755.11 RMB in 2020, up from 373,637,763.92 RMB in 2019, reflecting a growth of approximately 49.8%[186] Shareholder and Management Information - The number of ordinary shareholders at the end of the reporting period is 29,224, an increase from 27,894 at the end of the previous month[113] - The largest shareholder, Jiangxi Tourism Group Co., Ltd., holds 98,803,000 shares, representing 19.57% of the total shares[116] - The total remuneration for the board members and senior management during the reporting period was RMB 367.31 million[124] - The company has a performance evaluation and incentive mechanism that is fair and transparent[137] Audit and Compliance - The company has received a standard unqualified audit report from Asia-Pacific (Group) CPA[4] - The company is required to evaluate its ability to continue as a going concern and disclose relevant matters[161] - The management is responsible for ensuring the financial statements are free from material misstatement due to fraud or error[161] - The audit report does not cover other information outside the financial statements and the auditor's opinion[160]

Financial Performance - Operating revenue rose by 75.10% to CNY 173,734,875.48 from CNY 99,223,159.73 in the same period last year[5] - Net profit attributable to shareholders was a loss of CNY 10,446,441.52, compared to a profit of CNY 5,865,273.84 in the previous year, marking a decrease of 278.91%[5] - Basic earnings per share decreased by 279.31% to -0.0208 CNY per share from 0.0116 CNY per share[7] - The weighted average return on equity dropped by 9.97 percentage points to -7.49% from 2.48%[5] - The net loss for Q1 2021 was ¥12,562,074.75, compared to a net profit of ¥6,971,644.14 in Q1 2020, indicating a shift in financial performance[25] - Total comprehensive income for Q1 2021 was a loss of CNY 3,452,121.98, compared to a loss of CNY 8,484,274.89 in Q1 2020[27] Assets and Liabilities - Total assets increased by 3.27% to CNY 529,701,368.05 compared to the end of the previous year[5] - Current liabilities totaled ¥356,338,065.80, slightly increasing from ¥353,283,593.22 in the previous period[19] - The total assets as of March 31, 2021, amounted to ¥718,183,422.07, a decrease from ¥733,903,038.54 at the end of 2020[22] - Current liabilities decreased to ¥217,985,000.54 from ¥251,497,682.37, showing a reduction of approximately 13.3%[22] - The total equity as of March 31, 2021, was ¥498,458,394.39, an increase from ¥482,405,356.17 at the end of 2020[23] Cash Flow - The company reported a net cash flow from operating activities of -2,474,659.12 CNY, compared to -740,701.88 CNY in the same period last year[5] - In Q1 2021, the net cash flow from operating activities was -3,315,787.36, compared to -7,158,406.27 in Q1 2020, showing an improvement of approximately 53%[32] - Cash received from sales and services amounted to ¥191,308,716.73, a 47.41% increase from ¥129,781,764.58[15] - Cash paid for goods and services was ¥167,348,030.28, reflecting a 35.73% increase from ¥123,291,521.38[15] - The company received CNY 20,000,000.00 from other investment-related cash inflows in Q1 2021[29] - Cash inflow from financing activities was 18,800,000.00, with cash outflow totaling 28,184,935.88, leading to a net cash flow of -9,384,935.88 in Q1 2021[33] Expenses - Operating costs increased to ¥169,066,445.70, reflecting an 87.22% rise from ¥90,302,932.55, in line with revenue growth[15] - Sales expenses surged by 395.04% to ¥1,702,910.85, attributed to costs from the newly added subsidiary Guolian Culture[15] - Management expenses rose by 79.13% to ¥12,393,965.77, due to an increase in personnel at the holding subsidiary[15] - Financial expenses increased by 139.41% to ¥3,000,424.30, resulting from higher borrowing and interest costs[15] - The company reported a significant increase in financial expenses, totaling ¥3,000,424.30 in Q1 2021, compared to ¥1,253,263.50 in Q1 2020[24] Shareholder Information - The total number of shareholders reached 27,894 at the end of the reporting period[12] - The largest shareholder, Jiangxi Tourism Group Co., Ltd., holds 19.57% of the shares, with 98,803,000 shares pledged[12] Research and Development - Research and development expenses for Q1 2021 were ¥380,000.00, indicating ongoing investment in innovation[24] Other Information - The company has not disclosed any new product or technology developments in this report[14] - There are no significant changes in accounting policies or financial indicators reported[14]

Financial Performance - The company achieved a net profit attributable to shareholders of CNY 14,494,505.46 in 2020, a significant recovery from a net loss of CNY 190,094,288.44 in 2019[5]. - Operating revenue for 2020 was CNY 522,299,747.01, representing a 47.14% increase compared to CNY 354,970,862.79 in 2019[21]. - In 2020, the company achieved a turnaround with a basic earnings per share of CNY 0.0287, compared to a loss of CNY 0.3765 in 2019[22]. - The weighted average return on equity increased to 6.02% in 2020, up by 59.04 percentage points from -53.02% in 2019[22]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY -17,306,300.18, with total operating revenue of CNY 522,299,747.01 in 2020[23]. - The company reported a net profit attributable to ordinary shareholders of RMB 14,494,505.46 in 2020, with no cash dividend distribution proposed[78]. - The net profit for 2020 was ¥20,106,070.72, a turnaround from a net loss of ¥187,255,628.06 in 2019[178]. Assets and Liabilities - The company's net assets attributable to shareholders decreased by 37.79% to CNY 145,337,648.44 at the end of 2020, down from CNY 233,633,027.82 at the end of 2019[21]. - Total assets decreased by 8.20% to CNY 512,924,400.91 at the end of 2020, compared to CNY 558,715,779.77 at the end of 2019[21]. - Total liabilities rose to CNY 353,283,593.22 from CNY 246,189,188.08, marking an increase of approximately 43.5%[170]. - The company's equity attributable to shareholders decreased to CNY 145,337,648.44 from CNY 233,633,027.82, a decline of about 37.8%[171]. - The total assets of the company as of the end of 2020 were ¥733,903,038.54, compared to ¥611,459,248.90 in 2019, marking a growth of approximately 20%[175]. - The total liabilities for 2020 were ¥251,497,682.37, significantly higher than ¥119,075,863.72 in 2019, indicating increased leverage[175]. Cash Flow - The company reported a net cash flow from operating activities of CNY -51,662,026.71 in 2020, worsening from CNY -42,120,779.23 in 2019[21]. - The company reported a cash flow from operating activities of CNY 49,665,768.65 in Q4 2020, following negative cash flows in the first three quarters[26]. - The cash flow from operating activities showed a net outflow of CNY 51,662,026.71 in 2020, worsening from a net outflow of CNY 42,120,779.23 in 2019[185]. - Cash flow from financing activities resulted in a net inflow of CNY 66,776,668.40 in 2020, compared to a net outflow of CNY 11,756,836.87 in 2019[186]. - The ending cash and cash equivalents balance for 2020 was 7,738,113.63, compared to 128,000.18 in 2019, showing a significant increase[190]. Operational Risks and Challenges - The company faces various operational risks as detailed in the report, which investors are advised to consider[10]. - The company anticipates risks from market demand fluctuations and intensified competition in the tourism consumption sector[74]. - The company is currently involved in ongoing litigation, which may impact its financial performance[95]. - The company is actively managing its legal expenses and liabilities to mitigate financial risks[95]. Shareholder and Governance - The total number of ordinary shareholders at the end of the reporting period was 29,224, an increase from 28,273 at the end of the previous month[112]. - The largest shareholder, Jiangxi Tourism Group Co., Ltd., holds 98,803,000 shares, representing 19.57% of the total shares[115]. - The company has no strategic investors or general legal entities among the top 10 shareholders[116]. - The actual controller of the company is the Jiangxi State-owned Assets Supervision and Administration Commission[117]. - The company has not reported any changes in the actual controller during the reporting period[117]. Research and Development - Research and development expenses surged by 128.33% to 5.64 million yuan, attributed to an increase in R&D personnel and their salaries[44]. - R&D expenses totaled ¥5.64 million, accounting for 1.08% of total revenue, with 35 R&D personnel representing 21.34% of the total workforce[56]. Future Plans and Commitments - The company plans to achieve an operating income of 957.29 million yuan in 2021, representing a year-on-year growth of 83.28%[73]. - The company aims to optimize its asset structure through project investments and mergers to enhance profitability and risk resistance[71]. - The company is committed to enhancing investor relations and maintaining investor confidence[80]. Legal Matters - The company is involved in multiple ongoing lawsuits, including a claim for economic damages of RMB 20 million related to a shareholder dispute[90]. - The company is seeking the return of a double deposit totaling RMB 243,970,892.38 from several defendants in a stock transfer dispute[90]. - The company has a pending lawsuit regarding the return of 5.1 million shares of stock, with the case still under review[90]. - The company is actively pursuing legal actions to recover debts and enforce judgments from previous cases[93]. Internal Control and Audit - The internal control audit was also conducted by Asia-Pacific (Group) CPA Firm, with a fee of RMB 250,000[88]. - The company has not disclosed any significant defects in internal control during the reporting period[146]. - The audit opinion confirmed that the financial statements fairly represent the company's financial position as of December 31, 2020[152].

Financial Performance - Operating revenue for the first nine months reached CNY 412,084,195.42, a 61.04% increase year-on-year[8] - Net profit attributable to shareholders was CNY 28,158,980.59, compared to a loss of CNY 2,202,328.81 in the same period last year[8] - Basic and diluted earnings per share were both CNY 0.0558, compared to a loss of CNY 0.0044 per share in the previous year[8] - The weighted average return on net assets improved to 11.37% from -0.49% year-on-year[8] - The company reported non-operating income of CNY 19,221,102.76 for the first nine months[11] - The company reported a significant increase in financial expenses by 215.81% to RMB 5,330,770.89, resulting from higher interest costs associated with borrowings[14] - The company reported a decrease in employee compensation payable from CNY 3,726,181.65 to CNY 1,461,070.04, a reduction of about 60.80%[28] - The net profit for the first three quarters of 2020 improved to a loss of CNY 320,974,289.03 from a loss of CNY 356,671,746.45 in the same period of 2019, showing a reduction in losses of about 10.00%[28] - The total profit for Q3 2020 reached ¥30,607,986.30, up from ¥19,305,856.52 in Q3 2019, marking an increase of about 58.5%[32] - The net profit for the first nine months of 2020 was reported at ¥378,787,053.21, an increase of 84.8% from ¥204,879,768.37 in the same period of 2019[37] Assets and Liabilities - Total assets increased by 14.43% to CNY 639,337,521.05 compared to the end of the previous year[7] - The company's current assets reached CNY 450,395,519.48, up from CNY 363,220,075.25 in the previous year, indicating a growth of approximately 24%[23][25] - The total liabilities stood at CNY 331,139,128.73, compared to CNY 246,189,188.08 in the previous year, reflecting an increase of approximately 34.5%[25] - The total assets amounted to 558,715,779.77 RMB, with total liabilities at 246,189,188.08 RMB, indicating a healthy asset-to-liability ratio[44] - Total liabilities increased to CNY 188,457,148.70 from CNY 119,075,863.72, reflecting a rise of approximately 58.25%[28] - The company’s total liabilities included short-term borrowings of 45,200,000.00 RMB, indicating reliance on debt financing[44] Cash Flow - Net cash flow from operating activities showed a loss of CNY 102,352,476.01, worsening from a loss of CNY 82,618,487.76 year-on-year[7] - The cash flow from operating activities for the first nine months of 2020 was negative at -¥102,352,476.01, compared to -¥82,618,487.76 in 2019, indicating a worsening cash flow situation[37] - The total operating cash outflow for the first nine months of 2020 was ¥509,822,596.31, compared to ¥393,873,549.79 in the previous year, reflecting increased operational costs[37] - The company reported cash inflow from financing activities of ¥382,565,640.31 in the first nine months of 2020, significantly up from ¥84,475,000.00 in the same period of 2019[38] - The cash and cash equivalents at the end of Q3 2020 stood at ¥41,715,932.95, an increase from ¥23,955,105.37 at the end of Q3 2019[38] Shareholder Information - The total number of shareholders reached 30,813 by the end of the reporting period[12] - The largest shareholder, Jiangxi Tourism Group, holds 19.57% of the shares, amounting to 98,803,000 shares[12] Operational Changes and Legal Matters - The company is currently undergoing changes related to the equity of Fanshi Technology, which has faced legal disputes regarding profit commitments[16] - The company has taken measures to protect its interests in Fanshi Technology, including convening a temporary shareholders' meeting to appoint new directors[17] - The company is actively pursuing various measures, including negotiations and legal actions, to ensure the transition of management and protect its legal rights[19] - The company is in the process of changing its legal representative and management team, which has faced delays due to the previous management's non-compliance[19][22] Revenue and Cost Analysis - Operating costs increased by 88.53% to RMB 366,498,543.41, reflecting the growth in advertising marketing business[14] - Other operating income skyrocketed by 2513.62% to RMB 32,165,442.09, linked to performance compensation from New Line Zhongshi[14] - The company received a profit compensation of RMB 2,487.50 million from New Line Zhongshi for not meeting the 2019 profit commitment, corresponding to a 6.9305% equity transfer[15] - The company's operating revenue for Q3 2020 was ¥928,902.84, a significant increase from ¥482,396.35 in Q3 2019, representing a growth of approximately 92.7%[35] - The company's operating profit for Q3 2020 was ¥5,733,498.52, compared to ¥18,583,344.07 in Q3 2019, reflecting a decrease in operational efficiency[32]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥228,223,363.75, representing a 64.57% increase compared to ¥138,678,456.63 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥2,436,119.39, a significant recovery from a loss of ¥9,986,939.05 in the previous year[22]. - The basic earnings per share for the first half of 2020 was ¥0.0048, compared to a loss of ¥0.0198 in the same period last year[23]. - The diluted earnings per share also stood at ¥0.0048, recovering from a loss of ¥0.0198 in the previous year[23]. - The weighted average return on equity was 1.04%, a recovery from -2.23% in the same period last year[23]. - Operating revenue increased by 64.57% to ¥228,223,363.75 compared to ¥138,678,456.63 in the same period last year[40]. - Operating costs rose by 84.81% to ¥204,412,869.73 from ¥110,609,855.16 year-on-year[40]. - The company reported a total profit of RMB 4,286,990.43 for the first half of 2020, compared to a total loss of RMB -2,221,100.11 in the same period last year[87]. - The total comprehensive income for the first half of 2020 was CNY 9,882,791.49, a decrease of CNY 7,391,628.67 compared to the same period in 2019[92]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥28,263,226.31, an improvement from -¥64,040,755.11 in the same period last year[22]. - The net cash flow from financing activities was ¥28,624,712.87, a significant recovery from -¥11,156,457.28 in the previous period[40]. - Cash inflow from operating activities amounted to CNY 250,335,477.85, an increase from CNY 195,778,918.56 in the first half of 2019, representing a growth of approximately 27.8%[93]. - The net cash flow from investing activities was CNY 188,322.76, an increase from CNY 62,574.44 in the previous year[94]. - The ending balance of cash and cash equivalents was CNY 30,499,537.20, compared to CNY 9,540,178.38 at the end of the first half of 2019[95]. Assets and Liabilities - The total assets at the end of the reporting period were ¥550,906,811.34, a decrease of 1.40% from ¥558,715,779.77 at the end of the previous year[22]. - The company's total current assets amounted to RMB 359,670,238.86, a slight decrease from RMB 363,220,075.25 at the end of 2019[78]. - Total liabilities remained stable at CNY 244,701,189.09 compared to CNY 246,189,188.08, showing a decrease of approximately 0.6%[80]. - The company's long-term equity investments were valued at RMB 90,410,238.34, a slight decrease from RMB 92,238,940.18[78]. - The company's total non-current assets decreased from CNY 195,495,704.52 to CNY 191,236,572.48, a decline of about 2.2%[79]. Shareholder Information - The total number of ordinary shareholders reached 33,644 by the end of the reporting period[68]. - Jiangxi Tourism Group holds 98,803,000 shares, representing 19.57% of total shares, with 73,556,106 shares pledged[69]. - Xiamen Dandai Tourism Resources Development Co., Ltd. holds 57,936,660 shares, accounting for 11.47% of total shares, all of which are pledged[69]. - The company’s total equity attributable to shareholders was 504,936,660.00, with a decrease of 1,828,701.84 compared to the previous period[100]. Debt and Financing - The company secured a loan of 30 million yuan from a bank with the support of its controlling shareholder, Jianglv Group[36]. - The company borrowed RMB 300 million from Jianglv Group, with a remaining balance of RMB 90.4622 million as of the reporting period[62]. - The company is actively expanding its financing channels, with a total borrowing balance from Jianglv Group reaching 90.46 million yuan by June 30, 2020[36]. Legal and Compliance Issues - The company is involved in multiple ongoing lawsuits, including a case where it seeks the return of a loan amounting to CNY 67,976,390.55 plus interest[57]. - The company has sent collection letters and legal notices to debtors of RMB 148 million in large receivables, planning to recover through judicial means[54]. - The company is enhancing the management of seals and certificates of its subsidiaries to ensure compliance with internal control systems[54]. Risk Management - The company faces risks from market demand fluctuations and intensified competition in the tourism sector, impacting future performance[46][47]. - The company is actively monitoring receivables and has implemented measures to address potential collection issues, indicating a proactive approach to financial management[200]. - Future strategies may include enhancing credit risk assessment processes to mitigate potential losses from uncollectible accounts[200]. Accounting Policies and Standards - The accounting policies comply with the requirements of enterprise accounting standards[120]. - The company adopted the new revenue recognition standard effective January 1, 2020, replacing the previous standards, which resulted in a contract liability of CNY 20,576,024.58[180]. - The company includes all subsidiaries in the consolidated financial statements, including controlled entities and structured entities[125]. Research and Development - Research and development expenses were reported at ¥1,357,359.00, with separate accounting for the subsidiary's R&D costs[40]. - The company reported a significant increase in prepayments, rising to RMB 42,759,528.26 from RMB 25,480,643.51, representing a growth of approximately 67.9%[78].

Financial Performance - Operating revenue rose by 88.96% to CNY 100,016,208.23 compared to the same period last year[7] - Net profit attributable to shareholders was CNY -3,338,298.32, an improvement from CNY -3,876,448.86 in the previous year[7] - Basic and diluted earnings per share were CNY 0.0075, compared to CNY -0.0080 in the previous year[8] - The company reported non-operating income of CNY 7,135,290.71, primarily from performance compensation from subsidiaries[9] - The weighted average return on equity improved to 1.61% from -0.90% in the previous year[7] - The net loss attributable to the parent company was reported at ¥593,207,509.67, slightly improved from ¥597,004,502.06 in the previous period[19] - Net profit for Q1 2020 was ¥2,910,721.50, compared to a net loss of ¥1,508,952.43 in Q1 2019, indicating a turnaround in profitability[26] - The total comprehensive income for Q1 2020 was CNY 12,197,374.53, contrasting with a total comprehensive loss of CNY 1,170,158.77 in Q1 2019[32] Cash Flow - Cash flow from operating activities was CNY 1,110,078.76, a significant recovery from CNY -33,666,487.69 in the same period last year[7] - The cash flow from sales of goods and services was ¥139,034,897.71, a remarkable increase of 246.11% compared to ¥40,171,108.25 in the previous period[13] - The company received other operating cash of ¥9,289,566.90, which is a 39.23% increase from ¥6,672,285.81 in the previous period[13] - The company reported a significant increase in cash received from sales, totaling CNY 139,034,897.71 in Q1 2020, compared to CNY 40,171,108.25 in Q1 2019[33] - The net cash flow from operating activities was -7,158,406.27 RMB, compared to -14,342,641.46 RMB in Q1 2019, indicating an improvement of approximately 50% year-over-year[36] - Cash outflow from operating activities totaled 7,159,836.40 RMB, down from 14,665,705.07 RMB in Q1 2019, showing a reduction of approximately 51.16%[36] - Cash inflow from financing activities was 30,006,170.57 RMB, a significant increase from 2,029,000.00 RMB in Q1 2019, representing a growth of approximately 1,377.57%[36] - The net cash flow from financing activities improved to 29,199,765.52 RMB, compared to -54,335,129.73 RMB in the same quarter last year, marking a turnaround[36] Assets and Liabilities - Total assets increased by 2.36% to CNY 571,894,233.13 compared to the end of the previous year[7] - The total number of shareholders reached 37,937 by the end of the reporting period[11] - The largest shareholder, Jiangxi Tourism Group Co., Ltd., holds 19.57% of the shares, amounting to 98,803,000 shares[11] - The total liabilities increased to ¥264,791,750.54 from ¥246,189,188.08, indicating a growth in financial obligations[18] - The company's equity totaled ¥504,580,759.71, up from ¥492,383,385.18 at the end of 2019, indicating a growth of 2.4%[23] - Current assets totaled ¥265,670,957.01, slightly up from ¥261,605,830.93 at the end of 2019[22] - Non-current assets increased to ¥368,964,163.56 from ¥349,853,417.97, showing a growth of 5.3%[22] - Total liabilities as of March 31, 2020, were ¥130,054,360.86, compared to ¥119,075,863.72 at the end of 2019, reflecting an increase of 9.9%[23] Operating Costs - Operating costs rose to ¥90,741,430.81, reflecting a significant increase of 137.80% from ¥38,158,484.28 in the previous period[13] - Total operating costs for Q1 2020 were ¥103,746,940.25, up from ¥52,904,679.32 in Q1 2019, reflecting a 96.2% increase[25] - The company incurred operating costs of CNY 168,708.89 in Q1 2020, which was a substantial increase from CNY 83,212.00 in Q1 2019[30] Financial Expenses - Financial expenses increased by 121.30% to ¥1,324,325.47, up from ¥598,433.80 in the previous period due to new borrowing interest expenses[13] - The company reported a significant increase in financial expenses, with interest expenses rising to ¥2,603,101.32 in Q1 2020 from ¥593,132.44 in Q1 2019[26] - The financial expenses for Q1 2020 were CNY 43,833.94, a decrease from CNY 427,799.87 in Q1 2019, indicating improved cost management[31] Strategic Developments - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company did not apply new revenue and lease standards in 2020, indicating a stable accounting approach for the period[37]

Financial Performance - In 2019, the company reported a net profit attributable to shareholders of -190,094,288.44 CNY, with an undistributed profit of -356,671,746.45 CNY[4]. - Operating revenue for 2019 was CNY 354,970,862.79, an increase of 28.99% compared to CNY 275,183,249.87 in 2018[26]. - Net loss attributable to shareholders was CNY -190,094,288.4, a decrease of 127.41% from CNY -83,590,557.22 in the previous year[26]. - Basic earnings per share for 2019 was CNY -0.3765, a decline of 127.49% compared to CNY -0.1655 in 2018[28]. - The weighted average return on equity decreased to -53.02% in 2019 from -15.59% in 2018, a drop of 37.43 percentage points[28]. - Total assets at the end of 2019 were CNY 558,715,779.77, down 25.96% from CNY 754,564,430.33 at the end of 2018[27]. - Cash flow from operating activities was CNY -42,120,779.23, a decrease of 36.30% compared to CNY -30,902,354.88 in 2018[27]. - The company's net assets attributable to shareholders decreased by 48.49% to CNY 233,633,027.82 at the end of 2019 from CNY 453,567,494.22 at the end of 2018[27]. - The company reported a total comprehensive income for 2019 of CNY -217,095,806.02, compared to CNY -59,277,606.67 in 2018, showing a significant increase in comprehensive losses[183]. Audit and Compliance - The company received a qualified audit opinion from its auditing firm regarding the 2019 financial report, indicating concerns about the accuracy and completeness of the financial statements[4]. - The company has appointed Asia Pacific (Group) CPA as its auditor for the 2019 financial year, with an audit fee of 450,000 RMB[98]. - The internal control audit report identified three significant deficiencies, leading to a negative opinion on the internal controls[157]. - The company’s financial statements were audited, but a qualified opinion was issued due to issues with receivables and inventory[160]. Debt and Receivables - The company has not received the 20 million CNY from the equity transfer of 49% stake in Zhongnong Guolian, which constitutes non-operating fund occupation[10]. - The company is actively pursuing the recovery of the 20 million CNY equity transfer payment from the designated third party, Xiamen Contemporary Asset Management Co., Ltd[10]. - The company is actively pursuing debt recovery from receivables dating back to 2018, facing challenges such as uncontactable debtors and insolvency issues[44]. - The company reported significant issues with receivables, including a major receivable of ¥33,531,117.03, with a provision for bad debts of ¥3,342,693.76[161]. - The company has a substantial outstanding receivable of ¥31,668,082.41 from a related party, with a provision for bad debts of ¥316,680.82[162]. Business Operations and Strategy - The company's main business includes internet marketing, commercial real estate IP integration marketing, water sports, and marine leisure tourism services[37]. - The company aims to become a leading enterprise in China's sports, entertainment, and leisure tourism sectors, focusing on diversified and compound growth[37]. - The company aims to focus on tourism and large-scale consumption as part of its development strategy[73]. - The company plans to clear non-performing assets and restore its financing capabilities in 2020[74]. - The company plans to enhance its financing channels and improve the management of receivables to protect its interests[44]. Shareholder and Capital Structure - The company’s stock is listed on the Shanghai Stock Exchange under the code 600358[23]. - The total number of ordinary shareholders at the end of the reporting period was 38,252, an increase from 37,937 at the end of the previous month[116]. - Jiangxi Tourism Group held 98,803,000 shares, accounting for 19.57% of the total shares, with 73,556,106 shares pledged[118]. - Jianglv Group acquired 73,556,106 shares, representing 14.57% of the total share capital, becoming the largest single shareholder of the company[122]. - The company did not propose any cash dividend distribution for the years 2017 to 2019, with net profits of -190.09 million RMB in 2019 and -86.59 million RMB in 2018[81]. Employee and Management - The company has a total of 159 employees, with 21 in the parent company and 138 in major subsidiaries[141]. - The employee composition includes 64 technical personnel, 23 sales personnel, and 49 administrative personnel[141]. - The company has established a training plan for employees at different levels, focusing on internal and external training, as well as new employee onboarding[143]. - The remuneration for senior management is determined based on company performance, market salary levels, and completion of work tasks[138]. - The company has a diverse board with members having extensive experience in various sectors, including publishing, finance, and tourism[134]. Legal Matters - The company has initiated legal actions against seven defendants to recover losses, with a lawsuit filed on September 6, 2019[92]. - The company is involved in a significant lawsuit against Beijing Yijin Hotel Co., Ltd., claiming 69,976,390.55 RMB in outstanding debts[100]. - The company is pursuing legal action against Jianglv Group for a breach of a share transfer agreement, demanding the return of a double deposit totaling ¥243,970,892.38[102]. Risks and Challenges - The company faces risks from market demand fluctuations due to the impact of COVID-19 on the tourism sector, leading to uncertainty in future demand trends[77]. - Increased competition in the tourism sector is anticipated, with more capital entering the market, potentially affecting market share and profit margins[77]. - The company has a high proportion of receivables relative to total assets, which poses a significant collection risk; measures will be taken to recover historical debts and manage receivables more effectively[77].

Financial Performance - Operating revenue for the first nine months was ¥255,881,660.70, representing a year-on-year increase of 30.59%[9] - The net profit attributable to shareholders of the listed company for the first nine months was -¥2,202,328.81, showing an improvement compared to -¥16,802,586.50 in the same period last year[9] - Basic and diluted earnings per share improved to -¥0.0044 from -¥0.0300, a decrease of 85.33% year-on-year[9] - Total revenue for Q3 2019 reached ¥117,203,204.07, a significant increase of 134% compared to ¥50,047,602.21 in Q3 2018[29] - Net profit for Q3 2019 was ¥21,539,449.79, compared to a loss of ¥10,441,071.23 in Q3 2018, indicating a turnaround in profitability[31] - The company reported a gross profit margin of approximately 18.2% for Q3 2019, compared to 20.5% in Q3 2018[29] - The company reported a tax expense of ¥3,854,698.65 for Q3 2019, compared to ¥495,162.81 in Q3 2018, indicating increased profitability[31] - The company reported a net loss of CNY 1,140,160.4 for Q3 2019, compared to a net loss of CNY 5,036,725.60 in the same period last year, indicating a significant improvement[37] - The total comprehensive income for the first three quarters of 2019 was ¥20,410,248.03, compared to a loss of ¥9,114,993.72 in the same period of 2018[34] Assets and Liabilities - Total assets at the end of the reporting period reached ¥798,362,012.36, an increase of 5.80% compared to the end of the previous year[8] - Total liabilities amounted to ¥242,249,091.55, compared to ¥210,790,233.61, marking an increase of approximately 14.9%[23] - Total current assets as of September 30, 2019, amounted to ¥542,562,012.80, an increase from ¥495,090,128.04 as of December 31, 2018, representing an increase of approximately 9.5%[21] - The total equity attributable to shareholders was ¥450,824,017.98, down from ¥453,567,494.22, reflecting a decrease of approximately 0.5%[23] - The company’s short-term borrowings decreased to ¥54,493,100.00 from ¥71,313,000.00, a reduction of approximately 23.5%[22] - Total assets decreased from ¥679,504,724.63 in the previous period to ¥657,230,354.39 in Q3 2019[27] - Total liabilities decreased from ¥132,107,038.13 to ¥116,137,677.95, showing a reduction in financial obligations[27] Cash Flow and Financial Position - The company's cash and cash equivalents decreased by 71.79% to ¥23,955,105.37 from ¥84,924,719.14 due to loan repayments[16] - Cash flow from operating activities showed a net outflow of CNY 82,618,487.76 for the first nine months of 2019, worsening from a net outflow of CNY 53,986,289.87 in the same period of 2018[39] - The company generated CNY 204,879,768.37 in cash from sales and services in the first nine months of 2019, down from CNY 237,747,503.79 in the previous year[39] - Cash and cash equivalents at the end of Q3 2019 stood at CNY 23,955,105.37, a decrease from CNY 50,956,430.49 at the end of Q3 2018[40] - The company incurred operating expenses of CNY 393,873,549.79 in the first nine months of 2019, compared to CNY 373,249,841.96 in the same period of 2018[39] - The company reported a decrease in cash flow from operating activities, with total cash inflows of CNY 311,255,062.03 and outflows of CNY 393,873,549.79 for the first nine months of 2019[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 41,089[14] - The largest shareholder, Jiangxi Tourism Group Co., Ltd., held 14.57% of the shares, totaling 73,556,106 shares[14] - The second-largest shareholder, Xiamen Contemporary Tourism Resources Development Co., Ltd., held 11.47% of the shares, totaling 57,936,660 shares[14] Management and Governance - The company has appointed the general manager to act as the financial director due to the vacancy of the financial director position[5] - The report has not been audited, raising concerns about the accuracy of the financial data presented[6] - The report was presented by the legal representative, Zeng Shaoxiong, on October 28, 2019[20] Other Financial Metrics - The weighted average return on net assets increased by 2.72 percentage points to -0.49%[9] - Financial expenses decreased by 53.89% to ¥1,687,989.35 from ¥3,660,391.82 due to reduced borrowings[17] - Tax payments decreased by 39.38% to ¥7,818,806.62 from ¥12,898,460.65, indicating reduced tax liabilities compared to the previous year[17] - The company is actively pursuing compensation payments from performance guarantors totaling ¥19,393,600 due to unmet profit commitments[18] - The company anticipates potential significant changes in cumulative net profit compared to the previous year, but no specific warnings were issued[19]

Financial Performance - The company's operating revenue for the first half of the year was ¥138,678,456.63, a decrease of 4.95% compared to ¥145,896,473.00 in the same period last year[24]. - The net profit attributable to shareholders was -¥9,986,939.05, compared to -¥9,531,399.57 in the previous year[24]. - The net cash flow from operating activities was -¥64,040,755.11, worsening from -¥32,500,060.91 in the same period last year[24]. - The weighted average return on equity decreased to -2.23%, down from -1.81% year-on-year, reflecting a decline of 0.42 percentage points[25]. - The company's total assets at the end of the reporting period were ¥719,646,420.73, a decrease of 4.63% from ¥754,564,430.33 at the end of the previous year[24]. - The company reported non-recurring gains and losses totaling ¥1,759,996.59, including ¥928,647.80 from the disposal of non-current assets[28]. - Cash and cash equivalents at the end of the period were ¥9,540,178.38, a significant decrease of 88.77% compared to the beginning of the period[35]. - Accounts receivable increased by 56.09% to ¥145,957,644.45, primarily due to uncollected advertising revenue[35]. - The company reported a net loss of ¥417,092,048.82 in retained earnings, compared to a loss of ¥406,910,213.62 previously, indicating a worsening of approximately 2.9%[85]. - The total equity attributable to shareholders decreased to ¥440,301,417.69 from ¥453,567,494.22, reflecting a decline of about 2.9%[85]. Management and Governance - The company has faced management changes, with disputes regarding the qualifications of senior management affecting the accuracy of financial data[4]. - The company held its first extraordinary general meeting of 2019 on February 15, electing new board members and independent directors[49]. - The company appointed a new general manager and deputy general manager on June 26, 2019, following a board meeting[49]. - The company has undergone significant management changes, with multiple resignations from key positions including the CFO and Board Secretary[79]. - The company is focusing on restructuring its management team to enhance operational efficiency and strategic direction[79]. Investment and Expansion - The company plans to invest RMB 49 million to hold a 49% stake in Zhongnongguolian Cold Chain Logistics Co., Ltd[7]. - The company is focusing on outdoor sports and entertainment, with plans for expansion in sports training and commercial real estate[31]. - The company aims to integrate resources through acquisitions and partnerships to enhance its operational capabilities in the sports and entertainment sectors[33]. - The company is committed to fulfilling its promises related to asset restructuring and cash compensation, with specific payment timelines outlined[54]. Risks and Challenges - The company has not disclosed any significant risks in the report, but has advised investors to pay attention to potential risks[11]. - The company anticipates a significant change in cumulative net profit compared to the same period last year, potentially leading to losses[47]. - The company faces intensified market competition due to increased capital and resources entering the consumer market, which may result in reduced market share and profit margins[47]. - The company is managing risks associated with innovative projects like cultural tourism towns and health food supply chains, which may require substantial upfront investment and yield weak profitability initially[47]. Financial Position and Liabilities - The company's total liabilities decreased by 1.48% compared to the beginning of the period, with net assets at RMB 535.70 million[38]. - The company's total liabilities were reported at ¥183,943,747.95, a reduction from ¥210,790,233.61, indicating a decrease of about 12.8%[85]. - The company has a negative retained earnings balance of CNY -406,910,213.62, indicating accumulated losses[190]. - The total liabilities increased, indicating potential leverage concerns for the company moving forward[119]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,946[70]. - The top ten shareholders held a total of 72,936,660 shares, representing 14.44% of the company's total equity[73]. - Jiangxi Tourism Group Co., Ltd. became the new controlling shareholder on January 16, 2019[74]. - The largest shareholder, Jiangxi Tourism Group, held 73,556,106 shares, which is 14.57% of the total shares[72]. Accounting and Compliance - The company's financial report for the first half of 2019 has not been audited[5]. - The company has not made any changes to its accounting policies or estimates compared to the previous accounting period[64]. - The financial report was approved by the board of directors on August 27, 2019, ensuring compliance with accounting standards[128]. - The company’s accounting policies are aligned with the enterprise accounting standards, ensuring accurate financial reporting[132]. Future Outlook - The company plans to enhance its market expansion strategies in the upcoming quarters[112]. - Future guidance indicates a cautious outlook with potential adjustments based on market conditions[112]. - Future guidance suggests a cautious outlook, with expectations of gradual recovery in the second half of 2019[119].