Financial Performance - The company's operating revenue for Q3 2022 was ¥153,818,213.61, a decrease of 41.47% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of ¥5,080,156.00, with a year-to-date net profit of ¥4,397,573.19, reflecting a decline of 57.94%[4] - The basic earnings per share for the current period was -¥0.0101, down 57.94% from ¥0.0087 in the same period last year[4] - Total operating revenue for the first three quarters of 2022 was CNY 450,092,552.28, a decrease of 26.5% compared to CNY 612,066,758.86 in the same period of 2021[18] - Net profit for Q3 2022 was CNY 4,369,161.51, down from CNY 7,801,873.33 in Q3 2021, indicating a decline of about 44.3%[20] - Basic and diluted earnings per share for Q3 2022 were CNY 0.0087, compared to CNY 0.0207 in Q3 2021, reflecting a decrease of 58.0%[21] - The company reported a net loss of CNY 552,908,133.75 for the first three quarters of 2022, slightly improved from a loss of CNY 557,244,015.45 in the same period of 2021[17] Assets and Liabilities - The total assets at the end of the reporting period were ¥538,833,481.50, a decrease of 4.59% from the previous year-end[5] - Total assets as of September 30, 2022, were CNY 538,833,481.50, compared to CNY 564,748,780.77 at the end of 2021[17] - Total liabilities decreased to CNY 348,040,919.39 from CNY 368,371,125.96 year-over-year, indicating a reduction of about 5.6%[17] - The company’s total equity attributable to shareholders was CNY 182,609,617.73, down from CNY 185,008,497.57 year-over-year[17] - Non-current assets totaled CNY 160,881,927.81, an increase from CNY 146,840,018.85 in the previous year[16] Cash Flow - The company reported a year-to-date cash flow from operating activities of ¥49,729,398.26[4] - Cash inflow from operating activities for the first three quarters of 2022 was CNY 522,889,341.99, down from CNY 636,981,656.99 in the same period of 2021, a decline of approximately 17.9%[21] - The net cash flow from operating activities was $49,729,398.26, a significant improvement compared to the negative cash flow of $51,074,386.21 in the previous year[22] - Total cash outflow from operating activities amounted to $473,159,943.73, down from $688,056,043.20 year-over-year[22] - The net cash flow from investing activities was -$21,211,558.82, an improvement from -$43,019,056.32 in the same quarter last year[22] - Cash inflow from financing activities totaled $222,000,000.00, compared to $470,249,160.00 in the previous year[22] - The net cash flow from financing activities was -$43,195,349.45, a decline from a positive cash flow of $88,653,703.50 in the same quarter last year[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,075[11] - The largest shareholder, Jiangxi Tourism Group Co., Ltd., held 19.57% of the shares, with 98,803,000 shares pledged[11] Operational Changes - The decline in operating revenue for the year-to-date period was attributed to the restructuring of a subsidiary's business focus towards higher-margin operations[9] - The company has not reported any new product launches or significant market expansion strategies during the reporting period[13] Other Financial Metrics - Total operating costs for Q3 2022 were CNY 446,890,858.21, a decrease from CNY 636,422,524.59 in Q3 2021, representing a reduction of approximately 29.7%[19] - Other income for Q3 2022 was CNY 4,318,827.10, an increase from CNY 3,231,313.99 in Q3 2021, representing a growth of approximately 33.8%[19] - Financial expenses for Q3 2022 were CNY 10,614,493.73, compared to CNY 9,047,693.39 in Q3 2021, an increase of about 17.3%[19] - The company reported a net loss from credit impairment of CNY 153,552.70 in Q3 2022, a significant decrease from CNY 25,458,148.59 in Q3 2021[19] - The total comprehensive income for Q3 2022 was CNY -2,365,600.03, contrasting with CNY 7,994,378.60 in Q3 2021, indicating a substantial decline[21] Cash Management - Cash and cash equivalents as of September 30, 2022, amounted to CNY 71,084,014.91, down from CNY 85,759,053.81 at the end of 2021[15] - Cash paid for investing activities was $21,580,806.42, compared to $91,993,178.44 in the previous year[22] - Cash received from investment income was $164,946.60, down from $274,822.12 year-over-year[22] - Cash inflow from other financing activities was $16,000,000.00, a decrease from $279,999,160.00 in the previous year[22] Accounting Standards - The company did not apply new accounting standards for the current year[23]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 296,274,338.67, a decrease of 15.17% compared to CNY 349,253,091.99 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2022 was CNY 9,477,729.19, down 19.01% from CNY 11,702,115.47 in the previous year[17]. - The basic earnings per share for the first half of 2022 were CNY 0.0188, down 18.97% from CNY 0.0232 in the same period last year[18]. - The company reported a significant improvement in the basic earnings per share after deducting non-recurring gains and losses, which was CNY 0.0187 compared to a loss of CNY 0.0293 in the previous year[18]. - The company reported a net profit of CNY 16,450,481.19 for the first half of 2022, a significant recovery from a net loss of CNY -5,787,839.76 in the same period of 2021[93]. - Operating profit for the first half of 2022 was CNY 16,473,681.86, compared to a loss of CNY -5,721,139.79 in the first half of 2021, indicating a strong turnaround in operational performance[93]. - The total comprehensive income for the first half of 2022 was CNY 7,567,625.25, down from CNY 8,286,375.46 in the same period of 2021[89]. - The company reported a total comprehensive income loss of 494,839.80 million RMB during the current period[117]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly to CNY 66,313,371.16, representing a 357.08% increase compared to CNY 14,507,938.89 in the same period last year[17]. - Cash flow from operating activities generated a net inflow of CNY 66,313,371.16, a substantial increase from CNY 14,507,938.89 in the first half of 2021[95]. - The company experienced a decrease in cash received from sales of goods and services, totaling CNY 384,902,349.64, down from CNY 407,696,079.36 in the same period last year[95]. - Cash outflows for operating activities were CNY 321,573,084.34, compared to CNY 512,778,902.09 in the first half of 2021, reflecting improved cost management[95]. - The company reported cash inflows from financing activities of CNY 114,000,000.00, slightly down from CNY 122,250,000.00 in the previous year[96]. - The company's cash and cash equivalents at the end of the period amounted to CNY 86,277,435.06, an increase from CNY 85,759,053.81 at the beginning of the period[183]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 524,950,697.54, a decrease of 7.05% from CNY 564,748,780.77 at the end of the previous year[17]. - The company's total liabilities decreased to CNY 147,137,880.06 from CNY 177,890,495.10, reflecting a reduction of 17.4%[85]. - The company's equity attributable to shareholders increased from CNY 185,008,497.57 to CNY 192,050,879.12, an increase of about 3.6%[81]. - The company reported a 14.30% decrease in accounts receivable, amounting to approximately ¥277.22 million, reflecting improved cash collection efforts[32]. - The balance of accounts receivable at the end of the period was CNY 172,513,235.53, with CNY 145,935,457.53 due within one year[185]. Market and Business Strategy - The company is enhancing its core competitiveness through industry resource integration and talent cultivation, aiming to strengthen its operational management capabilities[26]. - The company is committed to developing personalized travel services and destination construction, focusing on rural revitalization and theme park projects[25]. - The company plans to focus on market expansion and new product development in the upcoming quarters[88]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[110]. - The company has signed multiple national-level intangible cultural heritage inheritors to promote and commercialize traditional culture through digital media[27]. Legal and Compliance Issues - The company is actively working on the execution progress of litigation cases related to Fan Technology and Renyi Real Estate[28]. - The company is involved in multiple ongoing lawsuits, including a contract dispute with Xiamen Junyi, seeking the return of a cooperation intention fund of RMB 20 million and a penalty of RMB 5.2515 million[52]. - The company is pursuing legal action against former executives for damages amounting to RMB 20 million due to breaches of fiduciary duties[54]. - The company has ongoing litigation that may impact its financial position, with significant amounts involved in both cases[55]. - The company has highlighted the potential financial impact of these lawsuits on its overall financial health[57]. Shareholder Information - The company has 44,123 common stock shareholders as of the end of the reporting period[71]. - The top ten shareholders hold a total of 19.57% (98,803,000 shares) of the company's shares[73]. - The second-largest shareholder, Xiamen Contemporary Tourism Resources Development Co., Ltd., holds 11.47% (57,936,660 shares) of the company's shares[73]. - There are no significant changes in the shareholding of directors, supervisors, and senior management during the reporting period[75]. Accounting and Financial Reporting - The company adheres to the accounting standards for enterprises, ensuring that its financial reports reflect a true and complete picture of its financial status[123]. - The company includes all subsidiaries in the consolidated financial statements, including controlled entities and structured entities[129]. - The company recognizes revenue when control of goods or services is transferred to customers, with revenue measured at the transaction price expected to be received[173]. - Deferred tax assets and liabilities are recognized based on the differences between the carrying amounts of assets and liabilities and their tax bases, calculated at applicable tax rates[177]. - The company assesses expected credit losses for financial assets based on a three-stage model, with different accounting treatments for each stage[144].

Financial Performance - The company's operating revenue for Q1 2022 was ¥162,577,173.36, representing a decrease of 6.42% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥8,331,835.08, with a diluted earnings per share of ¥0.0165[6][7]. - The company reported a net loss of RMB 548,912,180.37 for Q1 2022, compared to a net loss of RMB 557,244,015.45 in Q1 2021, indicating a slight improvement[18]. - In Q1 2022, the company reported a net profit of ¥8,902,764.26, a significant recovery from a net loss of ¥12,562,074.75 in Q1 2021, marking a turnaround of approximately 171%[21]. - The total revenue from operating activities increased to ¥206,819,489.42 in Q1 2022, compared to ¥205,406,460.99 in Q1 2021, reflecting a slight growth of 0.7%[24]. - The company’s total comprehensive income for Q1 2022 was ¥6,759,046.87, compared to a loss of ¥11,720,223.54 in Q1 2021, representing a recovery of around 157%[22]. - Basic and diluted earnings per share were both reported at ¥0.0165, a recovery from a loss of ¥0.0208 per share in the previous year[22]. Cash Flow and Liquidity - Cash flow from operating activities was ¥32,561,779.14, with significant cash inflows from increased receivables[6]. - The company achieved a net cash flow from operating activities of ¥32,561,779.14, a substantial improvement from a negative cash flow of ¥2,474,659.12 in the same period last year[24]. - Cash and cash equivalents at the end of Q1 2022 stood at ¥102,992,473.29, up from ¥38,186,295.38 at the end of Q1 2021, reflecting an increase of approximately 169%[25]. - The company raised ¥58,000,000.00 in borrowings during Q1 2022, compared to ¥20,000,000.00 in the same period last year, indicating a 190% increase in financing activities[25]. Assets and Liabilities - Total assets at the end of the reporting period were ¥582,939,214.75, an increase of 3.22% from the end of the previous year[7]. - Total assets as of March 31, 2022, were RMB 582,939,214.75, compared to RMB 564,748,780.77 at the end of 2021, showing an increase of 3.93%[18]. - Total liabilities increased to RMB 382,968,150.57 from RMB 368,371,125.96 at the end of 2021, an increase of 4.83%[18]. - The company's total equity as of March 31, 2022, was RMB 199,971,064.18, up from RMB 196,377,654.81 at the end of 2021, reflecting a growth of 0.81%[18]. Operational Efficiency - The company experienced a 19.36% reduction in operating costs, contributing to an increase in gross margin[9]. - Total operating costs for Q1 2022 were RMB 153,024,743.33, down 18.24% from RMB 186,822,580.05 in Q1 2021[20]. - The total operating expenses decreased to ¥174,257,710.28 in Q1 2022 from ¥207,881,120.11 in Q1 2021, showing a reduction of about 16%[24]. - Research and development expenses rose to ¥570,000.00 in Q1 2022, up from ¥380,000.00 in Q1 2021, indicating an increase of approximately 50%[21]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 46,808[12]. - The largest shareholder, Jiangxi Tourism Group Co., Ltd., held 19.57% of the shares, with a significant portion pledged[12].

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2021, representing a year-on-year increase of 15%[20]. - The net profit attributable to shareholders was 150 million RMB, an increase of 20% compared to the previous year[20]. - The company's operating revenue for 2021 was approximately ¥823.96 million, representing a year-over-year increase of 57.76% compared to ¥522.30 million in 2020[21]. - The net profit attributable to shareholders for 2021 was approximately ¥25.27 million, a significant increase of 74.31% from ¥14.49 million in 2020[21]. - The company reported a total of ¥1.77 million in non-operating income, which includes consulting, leasing, and fund lending revenues[21]. - The company reported a total revenue of 55,227,962 yuan for the year 2021[128]. - The company reported a net loss of RMB 557,244,015.45, slightly improved from a loss of RMB 582,509,996.60 in the previous year[176]. - The net profit for 2021 was 12,716,818.91 RMB, compared to a net loss of -7,668,776.61 RMB in 2020, indicating a significant turnaround[187]. User Growth and Market Expansion - User data showed a growth in active users by 25%, reaching 5 million by the end of 2021[20]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2023[20]. - New product launches are expected to contribute an additional 200 million RMB in revenue in 2022[20]. - The company aims to enhance its business integration and upgrade its services in response to the rising consumption trends in China[64]. Research and Development - The company has invested 50 million RMB in R&D for new technologies aimed at enhancing customer experience[20]. - The company reported a total of 2,280,000 RMB in R&D expenses, which is 0.28% of total revenue[54]. - The company has 12 R&D personnel, making up 5.43% of the total workforce[55]. - Research and development expenses decreased to CNY 2,280,000.00 in 2021 from CNY 5,635,004.92 in 2020, a reduction of 59.6%[182]. Financial Position and Cash Flow - The company has maintained a strong cash position with cash reserves of 300 million RMB, ensuring liquidity for future investments[20]. - Cash and cash equivalents increased by 88.89% to 85,759,053.81 RMB compared to the previous period[58]. - The net cash flow from operating activities for 2021 was approximately -¥57.97 million, compared to -¥51.66 million in 2020[21]. - The company reported a net cash flow from operating activities of -57,965,978.97 RMB, indicating a decline in cash generation capabilities[42]. - The company received 198,000,000.00 RMB in borrowings in 2021, a significant increase from 30,000,000.00 in 2020[190]. Strategic Initiatives and Acquisitions - A strategic acquisition of a local travel agency is anticipated to enhance service offerings and increase customer base by 15%[20]. - The company plans to actively pursue mergers and acquisitions in the cultural tourism sector to enhance its competitive edge[68]. - The company acquired 28% of the equity in New Line Media from Yihui Investment for a cash consideration, with performance commitments of net profits not less than RMB 21.8 million, RMB 36.5 million, and RMB 36.5 million for the years 2020, 2021, and 2022 respectively[109]. Legal Matters and Compliance - The company is involved in multiple legal disputes, including a claim for economic damages of RMB 20 million from seven defendants[118]. - The company is currently appealing a civil judgment that dismissed a claim from a financial management company regarding a stock return[119]. - The company is actively monitoring the legal situation and its potential implications for future business decisions[120]. - The company is committed to resolving these legal disputes efficiently to minimize disruption to its operations[120]. Governance and Management - The company established a fair and transparent performance evaluation and incentive mechanism[75]. - The company has a diverse board with members having extensive experience in various sectors, including finance, tourism, and investment management[81]. - The independent directors include professionals with experience in securities, investment, and academia, enhancing governance and strategic oversight[82]. - The company is focused on maintaining a stable board composition, with no new appointments or departures reported during the year[80]. Operational Efficiency and Cost Management - The company plans to enhance its operational efficiency by optimizing resource allocation and managing its subsidiaries effectively[35]. - Operating costs increased to 753,222,156.11 RMB, reflecting a growth of 63.13% year-on-year, in line with revenue growth[42]. - The company will focus on optimizing its business structure to increase the proportion of high-margin businesses while controlling high-risk new ventures[66]. Customer and Supplier Relationships - The company has a significant reliance on a few suppliers, with the top five suppliers accounting for 64.04% of total purchases[52]. - The company's total revenue for the year was 45,884.61 million RMB, with the top five customers accounting for 55.69% of total sales[50]. - The largest customer contributed 34,679.50 million RMB, representing 42.09% of annual sales[51].

公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 2021 年第三季度报告 证券代码：600358 证券简称：国旅联合 国旅联合股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 比上年同 | | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 262,813,666.87 | 42.81 | 612,066,758 ...

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]