Financial Performance - The company's operating revenue for 2021 was CNY 204,593,681.26, representing a 79.12% increase compared to CNY 114,219,413.43 in 2020[20]. - The net loss attributable to shareholders for 2021 was CNY -197,755,215.63, worsening from a loss of CNY -69,980,644.19 in 2020[21]. - The net cash flow from operating activities increased significantly to CNY 62,136,911.02, up 368.99% from CNY 13,249,150.87 in 2020[21]. - The total assets at the end of 2021 were CNY 2,091,331,519.04, a slight decrease of 0.40% from CNY 2,099,700,770.83 in 2020[21]. - The company's net assets attributable to shareholders decreased by 42.93% to CNY 268,513,194.12 from CNY 470,483,288.81 in 2020[21]. - The basic earnings per share for 2021 was CNY -1.5354, compared to CNY -0.5433 in 2020[22]. - The weighted average return on equity was -53.22% for 2021, down from -13.70% in 2020[22]. - The company did not declare any cash dividends or bonus shares for 2021 due to the lack of profitability[4]. Revenue and Growth - In the first quarter, the company reported revenue of CNY 29.18 million, while the second quarter saw revenue increase to CNY 81.77 million, followed by CNY 81.09 million in the third quarter, and a decline to CNY 12.55 million in the fourth quarter[25]. - The company achieved a total revenue of CNY 205 million during the reporting period, despite the ongoing impact of the COVID-19 pandemic, resulting in a net profit of CNY -198 million attributable to shareholders[30]. - The tourism service segment generated revenue of CNY 186,588,030.86, with a gross margin increase of 38.51 percentage points to 44.27%[70]. - In 2021, revenue from the tourism business increased by 96.75% compared to 2020, driven by the gradual recovery of the tourism service industry and the opening of the Harbin Polar Park Phase II project[71]. - Revenue from scenic area operations grew by 101.59% in 2021 compared to 2020, reflecting the recovery of the tourism service industry[72]. - The company's total revenue from the Northeast region increased by 83.93% in 2021 compared to 2020, as the region gradually recovered from the pandemic[72]. Operational Developments - The company launched two new venues, "Galaxy Star Sea" and "Awesome Tower," enhancing visitor capacity and experience, with "Galaxy Star Sea" featuring eight immersive experience zones and a 180-degree dome cinema[32]. - The second phase of Harbin Polar Park opened, introducing the "Polar Pavilion" and "Dinosaur Pavilion," making it a comprehensive entertainment and cultural destination[33]. - The company upgraded five major venues in Dalian with digital technology, becoming the first 5G smart tourism project in Liaoning Province and achieving full 5G coverage in Dalian's key scenic area[34]. - The company launched the largest immersive performance in a scenic area, "New Era," and introduced three updated versions, enhancing visitor engagement through interactive experiences[35]. - The company introduced the first immersive game "Shark Game" in the oceanarium, along with various interactive performances, to enhance the overall visitor experience[36]. Research and Development - The total R&D investment in 2021 was CNY 198,967.98, accounting for 0.097% of total revenue, with 56.79% of R&D costs capitalized[80]. - Research and development expenses grew by 65.14% to ¥85,964.43, indicating a focus on innovation and development[63]. - The company published nine academic papers and applied for nine patents during the reporting period, emphasizing its commitment to research and development[42]. Employee and Governance - The company maintained its workforce without salary cuts or layoffs during the pandemic, demonstrating a commitment to employee stability[30]. - The total number of employees in the parent company is 290, while the main subsidiaries have 198 employees, resulting in a total of 488 employees[160]. - The company has established a competitive salary policy based on industry standards and company performance, aiming to motivate employees and attract talent[161]. - The company has implemented an annual training plan focusing on new employee onboarding, skill enhancement, and safety training[163]. - The company has a diverse board with members having extensive backgrounds in finance, law, and management, which strengthens its strategic decision-making capabilities[124]. Legal and Compliance Issues - The company is involved in multiple significant lawsuits, including a capital contribution dispute with Jiangsu Cultural Tourism Industry Group, claiming 42 million RMB in damages[184]. - The company has a loan dispute with Liaoning Mike Group, with a judgment requiring repayment of 10 million RMB plus interest[187]. - The company is facing a contract dispute with Whale World (Chunan) Cultural Tourism Development Co., with a claim amounting to 178.99 million RMB[188]. - The company has a pending case regarding a technical development contract with Dalian Ruibo Investment, seeking 21.12 million RMB in damages[189]. - The company has faced regulatory penalties, with Mao Wei fined 1.5 million yuan for undisclosed trading activities from November 2017 to July 2019[192]. Strategic Initiatives - The company plans to focus on long-term development funding needs, as indicated by its decision not to distribute profits for 2021[4]. - The company aims to enhance its competitive advantage through innovative product offerings and market expansion strategies[30]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2023[126]. - The company plans to enhance customer service capabilities, with an investment of 50 million to improve user experience[126]. - The company is committed to upgrading and innovating its products and services to enhance tourist attraction and mitigate risks from external factors[110]. Environmental and Social Responsibility - The company actively engaged in carbon neutrality projects, becoming the first tourism enterprise in Dalian to incorporate carbon peak and carbon neutrality into its development strategy[46]. - The company is committed to "green development" and has implemented measures to reduce carbon emissions, including the analysis and modification of lighting and temperature control systems[173]. - The company has initiated the "Dalian Shengya Spotted Seal Festival," promoting marine biodiversity and establishing a national-level marine science education base in Dalian[44][45]. - The company actively engaged in public welfare activities, including free admission policies for healthcare workers and special groups, enhancing community support[48].

Financial Performance - The company's operating revenue for Q3 2021 was ¥81,091,243.23, representing a 140.59% increase compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2021 was ¥28,293,402.46, a significant recovery from a loss of ¥10,717,289.78 in the same period last year[3]. - Year-to-date revenue reached ¥192,048,555.43, marking a 227.33% increase compared to the previous year[3]. - The basic earnings per share for Q3 2021 was ¥0.2197, compared to a loss of ¥0.0832 in the same period last year[5]. - The net profit for the third quarter of 2021 was ¥2,400,901.54, a turnaround from a net loss of ¥60,784,901.80 in the same quarter of 2020[23]. - The company reported a gross profit margin of approximately 10.5% for the first three quarters of 2021, compared to a negative margin in the previous year[22]. - The basic earnings per share for the third quarter of 2021 were ¥0.0203, recovering from a loss of ¥0.4765 per share in the same quarter of 2020[24]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥74,085,600.00, showing a recovery from a negative cash flow of ¥12,807,200.00 in the previous year[5]. - Cash flow from operating activities for the first three quarters of 2021 was ¥202,085,190.25, significantly higher than ¥52,043,953.99 in 2020, reflecting improved cash generation capabilities[27]. - Net cash inflow from operating activities reached ¥74,085,659.61, a significant recovery from a net outflow of ¥6,087,205.78 in the previous year[28]. - Cash inflow from investment activities was ¥12,663,920.00, compared to ¥8,591,172.50 in the same period last year, while net cash outflow from investment activities was ¥40,471,662.40, improving from a larger outflow of ¥125,540,991.31[28]. - Cash inflow from financing activities totaled ¥180,007,765.93, down from ¥274,492,382.36 year-over-year, with net cash outflow from financing activities at ¥55,915,287.14 compared to a net inflow of ¥75,864,972.83 last year[29]. Assets and Liabilities - The total assets as of the end of the reporting period were ¥2,107,612,679.06, reflecting a 0.38% increase from the end of the previous year[5]. - The total liabilities as of the end of the third quarter of 2021 amounted to ¥1,503,542,402.95, slightly up from ¥1,498,031,396.26 at the end of 2020[19]. - Total current assets as of September 30, 2021, amount to RMB 165,476,770.91, down from RMB 183,492,722.86 at the end of 2020[17]. - Total non-current assets as of September 30, 2021, are RMB 1,942,135,908.15, compared to RMB 1,916,208,047.97 at the end of 2020[17]. - Total liabilities amounted to ¥1,498,031,396.26, a decrease of ¥20,672,111.16 compared to the previous period[33]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,572[12]. - The largest shareholder, Dalian Xinghaiwan Financial Business District Investment Management Co., holds 30,945,600 shares, representing 24.03% of total shares[12]. - The second largest shareholder, Panjing Equity Investment Fund Management (Shanghai) Co., holds 18,251,573 shares, accounting for 14.17%[12]. - The company has a total of 25,077,213 shares held by related parties, representing 19.46% of total shares[13]. - The company has a total of 12,880,032 shares held by another group of related parties, representing 10.00% of total shares[13]. Operational Adjustments - The company has made adjustments to its financial data for the previous year due to the impact of the COVID-19 pandemic on its operations[6]. - The company plans to continue expanding its market presence and developing new products to enhance revenue streams[3]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥110,957,312.20, a significant increase of 344.44% compared to ¥24,965,615.54 in the same period last year[20]. - The net profit attributable to shareholders was -¥25,684,581.40, an improvement of 51.57% from -¥53,030,940.24 year-on-year[20]. - The net cash flow from operating activities reached ¥33,744,296.81, a remarkable increase of 234.87% compared to -¥25,020,146.97 in the previous year[20]. - The company's operating revenue increased to ¥110,957,312.20, representing a growth of 344.44% compared to the previous period[23]. - The company achieved a revenue of 111.0 million yuan in the first half of 2021, representing a year-on-year growth of 344.44%[35]. - The net loss for the first half of 2021 was RMB 26,855,200.79, an improvement from a net loss of RMB 51,282,895.16 in the first half of 2020, indicating a reduction in losses by approximately 47.6%[139]. - The total comprehensive income for the first half of 2021 was -18,104,376.72 RMB, compared to -39,374,906.16 RMB in the same period of 2020, indicating an improvement[143]. Assets and Liabilities - The company's total assets as of the end of the reporting period were ¥2,104,445,439.59, showing a slight increase of 0.23% from ¥2,099,700,770.83 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 5.46% to ¥444,798,707.41 from ¥470,483,288.81 at the end of the previous year[21]. - The company's current assets totaled RMB 172,561,140.73, down from RMB 183,492,722.86 at the end of 2020, indicating a decrease of about 5.06%[129]. - Total liabilities increased to CNY 1,529,631,265.81, up from CNY 1,498,031,396.26, reflecting a growth of approximately 2.5%[131]. - Total equity attributable to shareholders decreased to CNY 444,798,707.41 from CNY 470,483,288.81, representing a decrease of about 5.5%[132]. Revenue Sources and Costs - Ticket revenue for the current period grew significantly, contributing to the overall revenue increase, with animal operations also seeing an increase of ¥18,410,535.27[23]. - Operating costs rose to ¥63,585,054.41, an increase of 38.49%, primarily due to the operational costs associated with the opening of the Harbin Polar Museum Phase II project[23]. - Sales expenses increased by 79.18% to ¥6,965,724.50, driven by increased promotional activities related to the new project opening[23]. - Management expenses rose to ¥38,234,694.71, a 54.88% increase, due to higher consulting and litigation costs as well as operational expenses for the new project[23]. - The company reported a total operating cost of ¥132,402,212.39 in the first half of 2021, compared to ¥86,967,664.47 in the first half of 2020, marking an increase of about 52.4%[137]. Investments and Research - The company has allocated 42,468,251 RMB for research and development, which is crucial for future product innovation and market competitiveness[163]. - The company established a marine biology research institute, focusing on the breeding of national key protected species, achieving record breeding numbers for penguins and other marine animals[43]. Strategic Initiatives - The company upgraded its venues using VR and AR technologies, becoming the first scenic area in the province to implement a 5G private network for smart tourism[36]. - The company launched immersive performances and various cultural events, enhancing visitor experience and engagement[38]. - The company is focusing on expanding its market presence through innovative product offerings and enhancing service quality to attract more tourists[73]. Environmental Responsibility - The company actively promotes environmental responsibility through various initiatives, including the "Dalian Shengya Spotted Seal Festival" and carbon neutrality projects[86][88]. - The company has signed a strategic cooperation framework agreement for carbon neutrality, focusing on peak carbon emissions and smart operations[88]. - The company participated in community environmental education activities, supporting children's awareness of ecological protection[87]. Legal and Compliance Issues - The company is involved in significant litigation, including a claim for RMB 42 million in breach of contract against its former management[95]. - The company is also pursuing a claim for RMB 178.99 million related to a share transfer dispute, with additional claims for interest and damages[97]. - The controlling shareholder, Dalian Xinghaiwan Financial Business District Investment Management Co., Ltd., is listed as a dishonest executor[102]. Shareholder Information - The company held three shareholder meetings during the reporting period, complying with relevant laws and regulations[77]. - The company’s major shareholder, Yang Ziping, committed to increase his shareholding by no less than RMB 3 million within 12 months from May 28, 2021[91]. - The company has a commitment from its shareholder, Panjing Equity Investment Fund Management, to not reduce their holdings of 24,101,413 shares, which represents 18.71% of the total share capital, until September 16, 2030[91]. Financial Management - The company has a structured entity, with registered capital of 12,500 million and total assets of 12,500.94 million, but reported a net loss of 0.0034 million[71]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[182]. - The company’s financial statements are prepared based on the accrual basis of accounting, in accordance with the relevant accounting standards[181].

Financial Performance - The company's operating revenue for 2020 was CNY 114,219,413, a decrease of 64.2% compared to CNY 319,484,248 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY -69,980,644, representing a significant decline from CNY 42,327,891 in 2019[21]. - Basic earnings per share for 2020 were CNY -0.5433, a decrease of 265.34% compared to CNY 0.3286 in 2019[22]. - The total assets of the company at the end of 2020 were CNY 2,099,700,770, down 3.90% from CNY 2,184,807,503 at the end of 2019[21]. - The company did not declare any cash dividends or stock bonuses for 2020 due to not achieving profitability[5]. - The weighted average return on equity for 2020 was -13.70%, a decrease of 21.82 percentage points from 8.12% in 2019[22]. - The company reported a net cash flow from operating activities of CNY 13,249,150, a decrease of 85.7% compared to CNY 93,065,350 in 2019[21]. - The company reported a net profit attributable to shareholders for Q4 2020 was -8,611,610.99 RMB, contributing to an annual net loss of -8,338,092.96 RMB[24]. - The company reported a significant decrease in net cash flow from operating activities, down 85.76% to CNY 13,249,150.87[58]. - The company reported a 62.06% decrease in cash received from sales and services, totaling CNY 115,097,110.30[72]. Strategic Initiatives - The company aims to transform its strategy from "heavy asset layout nationwide" to "light asset brand output" to enhance its brand image and achieve high-quality development[32]. - The company plans to innovate its development approach and seize growth opportunities to create an integrated tourism atmosphere in Dalian[32]. - The company plans to upgrade existing venues in Dalian and implement a "smart tourism, digital transformation" initiative in collaboration with major telecom operators, aiming to enhance visitor experience through 5G technology[94]. - The company aims to establish a digital tourism service platform and create new immersive experiences using VR, AR, and MR technologies, enhancing visitor engagement and increasing their stay duration[94]. - The company is focusing on the development of a new luxury marine-themed hotel to address the lack of accommodation options since its establishment 25 years ago[95]. - The company is set to launch the "Saint Asia Night Market," a flagship nighttime tourism project to boost local night economy[95]. - The company is exploring the development of unique fishing village tour experiences by upgrading its luxury cruise ship, catering to high-end customized tourism demands[95]. Market Conditions and Challenges - In 2020, the company achieved operating revenue of CNY 114,219,413.43, a decrease of 64.25% compared to 2019, primarily due to the impact of the COVID-19 pandemic[54]. - The company reduced operating costs by 17.85%, with total operating costs amounting to CNY 101,507,487.73 in 2020[58]. - Revenue from tourism services decreased by 66.37% compared to 2019, while revenue from other services declined by 15.65%[62]. - Revenue from scenic area operations fell by 76.76% compared to 2019, primarily due to pandemic-related closures[62]. - The company is facing risks from natural disasters and public health events, which could impact visitor numbers and operational performance[98]. - The company has established an emergency response mechanism to mitigate losses from uncontrollable factors[99]. Investments and Assets - The company's total assets at the end of the reporting period were CNY 65,481,512.96, a decrease of 47.76% compared to the previous period's CNY 125,336,978.10[36]. - Long-term equity investments surged by 407.33% to CNY 485,132,920.51 from CNY 95,625,283.03, due to the change in accounting treatment for a subsidiary[36]. - The company reported a 43.83% increase in long-term borrowings, reaching CNY 452,537,639.79 compared to CNY 314,633,580.12 in the previous period[37]. - The total amount of guarantees provided to subsidiaries during the reporting period is 15,000,000[149]. Corporate Governance and Compliance - The audit report issued by Zhongxing Caiguanghua CPA firm included a qualified opinion, which the company has detailed in its financial statement notes[4]. - The company has received a qualified opinion from auditors regarding its financial statements for the year ended December 31, 2020[107]. - The company’s financial statements fairly reflect its financial position and operating results for the year 2020, except for the matters leading to the qualified opinion[107]. - The company faced regulatory penalties due to non-cooperation with the China Securities Regulatory Commission, resulting in warning letters issued to directors Yang Ziping and Mao Wai[199]. Shareholder Information - The company plans to increase its shareholding by no less than 3,864,000 shares, which is 3% of the total issued share capital, and up to 12,880,000 shares, which is 10% of the total issued share capital[104]. - The company reported a shareholding reduction plan of 2%-4% through centralized bidding or block trading within the next 12 months[105]. - The company has committed not to reduce its holdings of 24,101,413 shares, representing 18.71% of the total share capital[106]. - The company has not disclosed any significant updates regarding its employee stock ownership plans or other incentive measures[138]. Social Responsibility and Community Engagement - The company has actively participated in social responsibility initiatives, including marine education and autism support programs[152][154]. - The company has established a marine technology volunteer service team and is promoting environmental protection activities[155].

Financial Performance - Operating revenue for the period was CNY 29,183,111.86, representing a significant increase of 121.04% year-on-year[6]. - Net profit attributable to shareholders was a loss of CNY 22,960,682.49, an improvement of 23.57% compared to the previous year's loss[6]. - Basic and diluted earnings per share improved to -0.1648, a 10.82% increase compared to the previous year[6]. - Cash flow from operating activities improved to a net outflow of CNY 5,380,098.89, a 72.81% reduction in outflow compared to the same period last year[6]. - Other income decreased by 85.45% to RMB 446,253.64, mainly due to the absence of provincial cultural industry development subsidies received in the previous period[14]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,110,577,803.75, an increase of 0.52% compared to the end of the previous year[6]. - The company reported a decrease in net assets attributable to shareholders by 4.51% compared to the end of the previous year[6]. - Long-term receivables rose by 42.37% to RMB 14,922,598.14 primarily due to the implementation of new leasing standards resulting in receivable financing leases[13]. - Contract liabilities increased by 41.96% to RMB 27,191,666.17, mainly from advance payments for animal sales and ticket sales[13]. - Inventory increased by 50.30% to RMB 7,091,397.96 due to the increase in stock by the controlling subsidiary Harbin Polar Manbo Business Management Co., Ltd.[13]. Shareholder Information - The number of shareholders at the end of the reporting period was 10,136, with the largest shareholder holding 24.03% of the shares[10]. - The total number of preferred shareholders and their holdings is not applicable for this reporting period[13]. Expenses and Cash Flow - Sales expenses grew by 45.87% to RMB 3,284,786.11, reflecting increased marketing efforts following the pandemic[13]. - Financial expenses increased by 55.40% to RMB 8,438,529.29, primarily due to interest expenses incurred by the subsidiary Dabaijing Coastal City Tourism Development Co., Ltd.[13]. - Cash paid for the purchase of fixed assets and intangible assets dropped by 77.33% to RMB 6,714,082.83, reflecting reduced project construction expenditures[14]. - The company reported a significant increase in cash distributions, with cash paid for dividends and interest rising by 226.36% to RMB 20,385,248.55[14]. Business Development - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - Non-recurring gains and losses totaled CNY 1,736,383.65 for the period[9].

Financial Performance - Operating revenue for the current period was CNY 29,183,111.86, representing a significant increase of 121.04% year-on-year[5]. - Net profit attributable to shareholders of the listed company was a loss of CNY 22,960,682.49, an improvement of 23.57% compared to the previous year's loss[5]. - The net cash flow from operating activities improved to a loss of CNY 5,380,098.89, a 72.81% increase compared to the previous year[5]. - Basic and diluted earnings per share were both CNY -0.1648, showing a 10.82% improvement from the previous year[5]. - The company reported non-recurring gains of CNY 1,736,383.65 for the current period[8]. - The net loss for Q1 2021 was CNY 23,105,540.55, an improvement from a net loss of CNY 24,919,693.85 in Q1 2020, reflecting a reduction of 7.3%[24]. - The gross profit margin for Q1 2021 was approximately -78.9%, compared to -88.5% in Q1 2020, indicating a slight improvement in profitability[22]. - The total comprehensive income for the period was reported at CNY -16,009,127.92, compared to CNY -15,524,405.58 in the previous year[30]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,110,577,803.75, a 0.52% increase compared to the end of the previous year[5]. - Current assets totaled ¥173,382,261.23, down from ¥183,492,722.86, indicating a decrease of about 5.6%[14]. - Total liabilities reached ¥1,532,013,969.73, up from ¥1,498,031,396.26, reflecting an increase of about 2.3%[16]. - Current liabilities totaled ¥745,326,785.03, slightly up from ¥735,851,675.08, indicating an increase of approximately 1.6%[15]. - The company's equity attributable to shareholders decreased to ¥449,258,989.97 from ¥470,483,288.81, a decline of approximately 4.5%[16]. - The total amount of other current liabilities was CNY 450,315,267.27, highlighting potential obligations[37]. - The company reported a long-term borrowing of CNY 452,537,639.79, indicating reliance on debt financing for growth[37]. Shareholder Information - The number of shareholders at the end of the reporting period was 10,136, with the top ten shareholders holding a significant portion of shares[9]. - The largest shareholder, Dalian Xinghaiwan Financial Business District Investment Management Co., Ltd., held 30,945,600 shares, accounting for 24.03% of total shares[9]. Operational Costs and Expenses - Total operating costs for Q1 2021 amounted to CNY 54,020,132.42, up 27.4% from CNY 42,426,416.33 in the same period last year[22]. - Management expenses increased by 32.09% to RMB 14,730,725.95 from RMB 11,151,925.27, attributed to the operational costs of Harbin Shengya Tourism Development Co., Ltd.[11]. - Financial expenses rose by 55.40% to RMB 8,438,529.29 from RMB 5,430,073.50, mainly due to interest expenses incurred by the subsidiary Dabaijing Coast City Tourism Development Co., Ltd.[11]. Cash Flow and Financing Activities - In Q1 2021, the company reported cash inflows from operating activities of CNY 38,788,206.77, a significant increase from CNY 17,617,967.15 in Q1 2020, representing a growth of approximately 120%[30]. - The company generated CNY 163,190,000.00 in cash from financing activities, up from CNY 141,191,429.44 in Q1 2020, indicating a growth of about 15.5%[33]. - The company incurred cash outflows from investing activities totaling CNY 6,714,082.83, a decrease from CNY 49,710,081.68 in Q1 2020, reflecting a reduction of approximately 86.5%[31]. Future Outlook and Strategic Initiatives - The company anticipates potential significant changes in net profit compared to the same period last year, indicating a cautious outlook for future performance[12]. - The company aims to enhance its market presence and explore new product development strategies in the upcoming quarters[22]. - The company is committed to enhancing its operational efficiency and exploring new market opportunities as part of its strategic initiatives moving forward[30].

Financial Performance - Operating revenue for the first nine months was ¥49,575,905.97, a decrease of 82.01% year-on-year[6]. - Net profit attributable to shareholders for the first nine months was -¥81,253,011.94, representing a decline of 221.61% compared to the same period last year[6]. - The net cash flow from operating activities for the first nine months was -¥12,807,205.78, a decrease of 111.65% year-on-year[6]. - Basic earnings per share for the reporting period was -¥0.4963, down 187.52% from ¥0.5671 in the previous year[6]. - The weighted average return on equity decreased by 25.74 percentage points to -12.31%[6]. - Total operating revenue for Q3 2020 was 26,717,090.43, compared to 144,883,402.52 in Q3 2019, representing a significant decline[29]. - Net profit for Q3 2020 was -11,881,203.46, a sharp decrease from a net profit of 64,780,150.53 in Q3 2019, reflecting a negative performance trend[31]. - The total profit for Q3 2020 was -12,059,911.18, compared to a profit of 88,302,390.88 in Q3 2019, highlighting a drastic decline in profitability[30]. - The company reported a significant investment loss of -523.53 in Q3 2020, contrasting with a gain of 6,175,755.49 in Q3 2019, reflecting challenges in investment performance[30]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,300,901,976.07, an increase of 5.31% compared to the previous year-end[6]. - The company’s total liabilities decreased by 33.13% to ¥41,228,155.51 due to changes in repayment plans influenced by the pandemic[13]. - Total liabilities increased to CNY 1,502,999,668.06, up from CNY 1,325,500,849.70, representing a growth of approximately 13.4% year-over-year[23]. - Current liabilities totaled CNY 764,590,605.64, compared to CNY 698,878,657.24, reflecting an increase of about 9.4%[23]. - Non-current liabilities rose to CNY 738,409,062.42 from CNY 626,622,192.46, marking an increase of approximately 17.8%[23]. - Owner's equity decreased to CNY 797,902,308.01 from CNY 859,306,653.31, a decline of about 7.1%[24]. - The total current assets decreased to CNY 132,612,992.43 from CNY 166,664,302.80, a decline of approximately 20.4%[25]. Cash Flow - Cash and cash equivalents decreased by 44.54% to ¥69,517,972.33 due to reduced revenue from the COVID-19 pandemic and repayment of debts[13]. - Cash payments for investments decreased by 44.48% to CNY 20,181,853.00, primarily due to reduced equity transfer payments for the Yingkou project[15]. - The company’s cash inflow from operating activities in Q3 2020 was CNY 79,049,448.86, a sharp decline from CNY 293,899,400.53 in Q3 2019, representing a decrease of about 73%[36]. - Cash flow from financing activities showed a net outflow of -28,955,891.78 RMB, an improvement from -48,064,535.70 RMB in Q3 2019[39]. - The company reported a total cash inflow from financing activities of CNY 75,864,972.83 in the first three quarters of 2020, down from CNY 309,090,481.17 in the same period of 2019, a decrease of about 75%[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 3,387[10]. - The largest shareholder, Dalian Xinghai Bay Jinrong Business District Investment Management Co., Ltd., held 30,945,600 shares, accounting for 24.03% of the total[11]. Other Income and Expenses - The company reported non-operating income of ¥8,545,083.73 for the first nine months[9]. - Other income increased significantly by 1519.71% to ¥11,822,046.32, primarily from provincial cultural industry development subsidies[14]. - Sales expenses dropped by 64.77% to ¥5,598,527.61 due to reduced advertising and lower salaries during the pandemic[14]. - The company received tax refunds amounting to ¥18,697,390.64, a 120720.70% increase, primarily from VAT refunds[14]. - The company reported a decrease in retained earnings to CNY 145,420,718.22 from CNY 209,338,728.26, a decline of approximately 30.6%[24]. Impact of COVID-19 - The company reported a significant decline in revenue due to COVID-19, with a decrease in tax payments by 84.26% to CNY 5,624,789.19 compared to the previous period[15]. - The company anticipates a significant decline in annual operating revenue due to extended closures, with venues in Dalian closed for 128 days and operating at only 20% of normal capacity post-reopening[18]. - The company has implemented measures to enhance service quality and customer experience during the pandemic, focusing on internal improvements[16]. - The company launched initiatives to support frontline medical workers, including lifetime free access for over 800 medical personnel and their families[16].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 22,858,815.54, a decrease of 82.52% compared to CNY 130,766,263.44 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was a loss of CNY 53,200,720.26, compared to a profit of CNY 7,593,516.48 in the same period last year, representing a decline of 800.61%[20]. - The net cash flow from operating activities was a negative CNY 27,036,146.97, down 158.90% from CNY 45,900,104.58 in the previous year[20]. - Basic earnings per share for the first half of 2020 were CNY -0.4130, a decrease of 800.00% compared to CNY 0.0590 in the same period last year[21]. - Diluted earnings per share for the first half of 2020 were also CNY -0.4130, reflecting the same decline as basic earnings per share[21]. - The company reported a significant decline in both revenue and profit due to the impact of external factors, which should be monitored closely by investors[7]. - The company reported total revenue of 22.86 million yuan, a decline of 82.52% compared to the previous period[41]. - Operating profit was -51.67 million yuan, representing a decrease of 576%[41]. - The company faced a closure period of 128 days due to government mandates related to the COVID-19 pandemic, significantly impacting operations[41]. Assets and Liabilities - Total assets increased by 1.80% to CNY 2,224,107,698.17 from CNY 2,184,807,503.01 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 9.65% to CNY 497,940,267.03 from CNY 551,140,987.29 at the end of the previous year[20]. - Long-term borrowings increased to 355.10 million yuan, up 98.52% year-on-year[35]. - The company’s accounts payable rose by 129.28%, reaching 4.80 million yuan, primarily due to increased utility and procurement costs[35]. - Total liabilities reached CNY 1,416,253,720.04, up from CNY 1,325,500,849.70, marking a growth of around 6.8%[101]. Cash Flow - Cash and cash equivalents decreased by 56.74% to 54,219,918.48 yuan, primarily due to reduced income and payments for equity transfers and debt repayments[22]. - The cash flow from financing activities showed a decrease of 30.12% in debt repayments, amounting to 143,538,932.51 yuan[23]. - The company’s cash and cash equivalents decreased from 125,336,978.10 RMB at the end of 2019 to 54,219,918.48 RMB as of June 30, 2020, indicating a liquidity contraction[99]. - Cash flow from operating activities for the first half of 2020 was -¥27,036,146.97, down from ¥45,900,104.58 in the first half of 2019[114]. Operational Changes and Challenges - The company experienced a significant impact from the COVID-19 pandemic, with venues closed for 128 days from late January to late May 2020, leading to a drastic decline in visitor numbers to about 20% of normal levels[60]. - The company faced operational challenges due to management disruptions following the dismissal of senior executives, which has led to severe financing difficulties[61]. - The company is currently under legal scrutiny due to disputes regarding the legitimacy of board meeting procedures, which may further complicate its operational stability[63]. Strategic Initiatives - The company operates in the tourism service industry, focusing on marine culture and theme parks, with a strategic plan called the "Big White Whale Plan" to enhance competitiveness[30]. - The company aims to develop a comprehensive cultural tourism industry chain, integrating marine culture with various business models[30]. - The company plans to enhance its product offerings and expand its audience through innovative projects like "Whale MALL," a cultural and commercial complex[37]. - The company is actively seeking to adjust its strategic direction to mitigate the impact of the pandemic and maintain shareholder interests[61]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 2,882[90]. - The largest shareholder held 30,945,600 shares, accounting for 24.03% of total shares[91]. - Shareholder Yang Ziping intends to increase his holdings by 3% to 10%, which means acquiring no less than 3,864,000 shares, bringing his total to at least 5,991,269 shares, and not exceeding 12,880,000 shares, totaling a maximum of 15,007,269 shares[70]. - The company has not reported any changes in the status of preferred shareholders or any new strategic investors among the top ten shareholders[93]. Regulatory and Compliance - The financial statements were approved by the board of directors on August 27, 2020, ensuring compliance with accounting standards[136]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts[140]. - The company received an administrative regulatory measure from the China Securities Regulatory Commission regarding warnings issued to Yang Ziping and Mao Wei[73]. Accounting Policies - The company applies a bundle transaction accounting treatment for business combinations under common control, measuring acquired assets and liabilities at their book value on the merger date[144]. - The company recognizes expenses related to business combinations, such as audit and legal fees, in the current period's profit and loss[149]. - The company measures financial assets at fair value, with gains or losses and related dividend and interest income recognized in profit or loss[169].

Financial Performance - Operating revenue fell by 74.93% to CNY 11,100,473.40 year-on-year[5] - Net profit attributable to shareholders decreased by 246.14% to CNY -30,195,963.94[5] - Basic and diluted earnings per share were both CNY -0.1860, a decrease of 181.39% compared to the previous year[5] - The company reported a significant increase in losses compared to the same period last year, indicating challenges in the current market environment[5] - Total operating revenue for Q1 2020 was CNY 11,100,473.40, a decrease of 74.9% compared to CNY 44,272,777.13 in Q1 2019[26] - Net loss for Q1 2020 was CNY 25,073,961.61, compared to a net loss of CNY 10,073,393.18 in Q1 2019, representing a 148.1% increase in losses[28] - Operating profit for Q1 2020 was CNY -24,987,613.99, worsening from CNY -8,907,499.06 in Q1 2019[26] - The total comprehensive income for the period was -¥15,544,375.85, compared to -¥7,995,705.81 in the previous year[36] Assets and Liabilities - Total assets decreased by 3.57% to CNY 2,106,815,277.05 compared to the end of the previous year[5] - The company’s total liabilities decreased to CNY 575,630,511.25 in Q1 2020 from CNY 600,482,014.30 in Q1 2019, a reduction of 4.1%[24] - Total liabilities increased by 47.19% to ¥4,781,113.73, mainly due to outstanding utility and procurement payments[13] - Total current liabilities were ¥626,345,460.94, down from ¥698,878,657.24, showing a reduction of approximately 10.35%[20] - Total liabilities amounted to ¥1,272,582,585.35, a decrease from ¥1,325,500,849.70, indicating a decline of about 3.99%[20] - Shareholders' equity decreased to ¥834,232,691.70 from ¥859,306,653.31, reflecting a decline of approximately 2.92%[20] Cash Flow - Cash flow from operating activities showed a significant decline of 524.84%, resulting in CNY -19,789,794.49[5] - In Q1 2020, the company reported cash inflows from operating activities of ¥17,617,967.15, a decrease of 68.2% compared to ¥55,429,212.01 in Q1 2019[32] - The net cash flow from operating activities was -¥19,789,794.49, worsening from -¥3,167,166.11 in the same period last year[35] - The company recorded cash outflows from investing activities totaling ¥49,710,081.68, down from ¥62,659,965.65 in Q1 2019, resulting in a net cash flow of -¥43,766,085.68 from investing activities[35] - Cash inflows from financing activities were ¥141,191,429.44, compared to ¥219,139,589.42 in Q1 2019, leading to a net cash flow of -¥4,462,566.36 from financing activities[35] Shareholder Information - The total number of shareholders reached 3,364 at the end of the reporting period[9] - The largest shareholder, Dalian Xinghaiwan Financial Business District Investment Management Co., Ltd., holds 24.03% of shares, with 30,945,600 shares pledged[9] Operational Challenges and Strategies - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company anticipates a significant change in net profit compared to the same period last year due to the ongoing impact of the pandemic[16] - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[26] - The company plans to continue focusing on cost management and operational efficiency in response to the financial challenges faced during the quarter[36] - The company is exploring new investment opportunities to enhance its market position and recover from the current financial downturn[36] Social Responsibility - The company has launched initiatives to provide free access to frontline medical workers and their families as a gesture of gratitude for their efforts during the pandemic[15] - The company is committed to fulfilling its corporate social responsibility by supporting healthcare workers during the COVID-19 crisis[15] Other Financial Metrics - Non-recurring gains and losses totaled CNY 6,242,469.79, primarily from government subsidies and asset disposals[9] - Other income increased significantly by 1256.16% to ¥3,067,818.98, mainly due to receiving provincial cultural industry development subsidies[13] - The company reported a 48.48% decrease in selling expenses to ¥2,251,807.80, as advertising was not conducted during the operational suspension[13] - The company has implemented measures to prepare for reopening and enhance service quality during the pandemic[14]

Financial Performance - The company's consolidated net profit attributable to shareholders for 2019 was CNY 41,761,693.49, a decrease of 27.57% compared to CNY 57,656,065.79 in 2018[5]. - Total operating revenue for 2019 was CNY 318,726,590.25, reflecting an 8.32% decline from CNY 347,656,171.06 in the previous year[20]. - The company's cash flow from operating activities for 2019 was CNY 93,065,359.77, down 17.66% from CNY 113,028,721.72 in 2018[20]. - Basic earnings per share for 2019 were CNY 0.3242, a decrease of 27.57% compared to CNY 0.4476 in 2018[22]. - The weighted average return on equity for 2019 was 7.86%, down 4.48 percentage points from 12.34% in 2018[22]. - In 2019, the total operating revenue and net profit attributable to shareholders decreased compared to the previous year, while the net profit after deducting non-recurring gains and losses slightly increased[43]. - The net profit attributable to shareholders was a loss of ¥8,517,026.90 in Q1, turning to a profit of ¥16,110,543.38 in Q2, and reaching ¥65,447,164.51 in Q3, but resulting in a loss of ¥31,278,987.50 in Q4[24]. - The net profit attributable to the parent company was CNY 41.76 million, down 27.57% year-on-year, primarily due to the decline in revenue[62]. Assets and Liabilities - The total assets at the end of 2019 amounted to CNY 2,184,807,503.01, representing a 21.68% increase from CNY 1,795,582,621.14 at the end of 2018[21]. - The company's net assets attributable to shareholders increased by 9.23% to CNY 551,140,987.29 from CNY 504,580,752.58 in 2018[21]. - The company's accounts receivable increased by 175.60% to 8,408,443.91, compared to 3,050,941.53 in the previous period, reflecting enhanced management service fees in operational areas[34]. - Long-term borrowings rose by 147.17% to 314,633,580.12 from 127,292,414.96, driven by increased funding needs for project construction[37]. - The total restricted assets amounted to CNY 500.57 million, including cash, investment properties, fixed assets, and intangible assets used as collateral for loans[84]. Business Strategy and Development - The company has focused on developing marine animal culture as its main business, with a strategic plan called "Big White Whale Plan" to enhance its cultural tourism projects[31]. - The company aims to build a comprehensive cultural industry chain and enhance competitiveness through cross-regional and cross-industry large cultural tourism projects[31]. - The company is actively expanding its market presence by developing new high-quality tourism products to meet the increasing consumer demand[34]. - The company is focusing on enhancing service quality through comprehensive training and innovative service models to meet diverse tourist needs[38]. - The company is committed to advancing its established development strategy, leveraging its expertise in marine breeding technology and cultural tourism management to build a comprehensive marine culture industry chain[120]. Marketing and Customer Engagement - The company launched the "Whale MALL," a comprehensive cultural and commercial complex themed around marine animals, effectively expanding its audience[39]. - The company is focusing on capital operations through various financing methods, including private placements and convertible bonds, to strengthen its market position[101]. - The company is expanding its marketing strategies, including online sales and social media promotions, to capture a larger market share[87]. - A new marketing strategy has been implemented, aiming to increase brand awareness by 25% within the next six months[171]. Corporate Governance and Compliance - The company appointed Da Hua Accounting Firm as the auditor for 2019, with an audit fee of CNY 450,000[131]. - The board of directors and supervisory board operate independently, with no interference from the controlling shareholder, ensuring a complete and autonomous business operation[185]. - The company has implemented a "three separations and two independents" policy to maintain independence in operations, finance, and management from the controlling shareholder[185]. - The internal control evaluation report confirms the effectiveness of the company's internal control system as of December 31, 2019, ensuring compliance and asset security[191]. Social Responsibility and Community Engagement - The company is committed to corporate social responsibility, offering free access to healthcare workers and their families as a gesture of gratitude[104]. - The company has actively engaged in marine public welfare activities, including free ocean tours for families of children with autism, promoting biodiversity awareness[148]. - The company has distributed millions of consumption coupons to local residents to encourage tourism and support the economy during the pandemic[148]. Future Outlook - The company is optimistic about future growth, projecting a revenue increase of 10% to 12% for the upcoming fiscal year[172]. - Future guidance indicates a projected revenue growth of 10% year-over-year for the next fiscal period[170]. - The company plans to gradually repurchase shares from equity investment institutions after project completion, optimizing capital usage[111].