Financial Performance - The company reported a net profit of ¥13,361,292.56 for the year 2014, with a negative retained earnings of ¥-141,712,097.45, resulting in a distributable profit of ¥-128,350,804.89[4]. - The company's operating revenue for 2014 was CNY 1,082,227,597.14, a decrease of 16.60% compared to CNY 1,297,658,670.66 in 2013[24]. - The net profit attributable to shareholders for 2014 was CNY 29,077,754.92, down 65.69% from CNY 84,751,111.50 in the previous year[24]. - The net cash flow from operating activities was negative CNY 14,460,348.55, a decline of 165.47% compared to a positive CNY 22,086,896.88 in 2013[24]. - The total assets at the end of 2014 were CNY 1,742,143,509.42, a decrease of 10.98% from CNY 1,957,107,732.17 in 2013[24]. - The net assets attributable to shareholders increased by 3.85% to CNY 784,748,045.86 from CNY 755,670,290.94 in 2013[24]. - The basic earnings per share for 2014 were CNY 0.16, a decrease of 65.96% from CNY 0.47 in 2013[25]. - The company reported a decrease in operating profit of 82.88%, amounting to CNY 1,551.42 million for the period[32]. - The asset-liability ratio at the end of 2014 was 54.87%, a decrease of 6.32 percentage points compared to the previous year[31]. Business Operations - The company has undergone several changes in its main business operations, shifting from technology and consulting to tourism project development and management since 2012[18]. - The company’s major shareholder changed to Xi'an Qujiang Cultural Tourism (Group) Co., Ltd., which holds 51.35% of the total shares after a significant asset restructuring in 2012[20]. - The company did not achieve any revenue from tourism commercial real estate this period, compared to 190 million RMB in the same period last year[34]. - Hotel and catering revenue decreased by 3% and tourism service revenue decreased by 24.86% year-on-year, while scenic area operation management and landscaping revenue increased compared to the same period last year[34]. - The company has established itself as a leader in the integrated management of historical and cultural scenic areas, showcasing unique competitive advantages[49]. Cash Flow and Investments - The company’s investment activities generated a net cash outflow of CNY 66,560,990.42, an improvement of 59.84% from the previous year[33]. - The company’s cash and cash equivalents dropped by 66.82% to ¥118,509,993.27, primarily due to loan repayments and tax payments[47]. - The company reported a net cash flow from investing activities of -64,401,896.35 RMB, an improvement from -150,583,639.36 RMB in the previous year, reflecting a decrease in cash outflow by 57%[177]. Shareholder Information - The company reported a total share count of 179,509,675 shares, with 52.24% being restricted shares and 47.76% being unrestricted shares[108]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 51.35% of shares, totaling 92,176,234 shares, with 46,088,100 shares pledged[115]. - The company has a total of 92,176,234 shares under lock-up conditions, which will not be traded or transferred for 36 months from the date of registration[119]. Governance and Compliance - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report, assuming legal responsibility for any misstatements[4]. - The company received a clean audit opinion for its 2014 financial statements, confirming that they fairly represent the financial position and results of operations[164]. - The company has committed to ensuring that related party transactions are conducted at fair prices and comply with legal requirements[93]. Future Outlook - The company expects to achieve approximately 1.04 billion yuan in revenue for 2015, with costs controlled around 680 million yuan and period expenses at about 300 million yuan[64]. - The company aims to enhance its core product offerings by focusing on historical and cultural themes, transitioning from static to dynamic tourism experiences[61]. - The company will focus on expanding its market presence through project reserves and management output, ensuring stable business development[62]. Employee and Management Structure - The total number of employees in the parent company is 106, while the main subsidiaries employ 4,606, resulting in a total of 4,712 employees[134]. - The company emphasizes a competitive and equitable compensation policy, linking salaries to performance and contributions[135]. - The company has appointed several independent directors with extensive experience in finance and law, enhancing its governance structure[128]. Related Party Transactions - The total amount of related party transactions during the reporting period reached 104,183,202.96 CNY[87]. - The largest single transaction was for the purchase of infrastructure materials from Xi'an Qujiang Shengtang Material Supply Co., amounting to 7,232,139.83 CNY[87]. - The company utilized market pricing methods for all related party transactions, ensuring compliance with pricing principles[87]. Accounting and Financial Reporting - The company has retained Sigma Accounting Firm for annual financial auditing services and internal control auditing services, with a remuneration of RMB 4.5 million for the financial audit and RMB 3.8 million for internal control audit[94]. - The company will implement new accounting standards starting from July 1, 2014, which include significant changes to the accounting treatment of long-term equity investments and financial instruments[98]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for at least the next 12 months[194].

Financial Performance - Net profit attributable to shareholders of the listed company was CNY 5,309,715.20, a significant increase of 261.00% year-on-year[7]. - Operating revenue for the period was CNY 228,247,220.97, representing a decrease of 4.86% compared to the same period last year[7]. - The net profit margin improved significantly due to effective cost control measures implemented during the reporting period[13]. - Operating profit for Q1 2015 was CNY 4,445,937.05, compared to a loss of CNY 7,232,714.37 in the previous year[24]. - The company reported a net profit of CNY 328,673.80 from non-operating income, up from CNY 30,302.58 in the previous year[24]. - The net profit for Q1 2015 was CNY 4,991,298.55, a significant improvement from a net loss of CNY 4,045,630.93 in Q1 2014[25]. - The total comprehensive income for Q1 2015 was CNY 4,991,298.55, compared to a total comprehensive loss of CNY 4,045,630.93 in the previous year[25]. - The company reported a basic and diluted earnings per share of CNY 0.03 for Q1 2015, recovering from a loss of CNY 0.02 per share in Q1 2014[25]. Cash Flow - The net cash flow from operating activities improved to -CNY 15,243,396.13, an 80.63% increase compared to -CNY 78,694,490.15 in the previous year[7]. - The net cash flow from investing activities was -CNY 25.75 million, a decrease of CNY 28.54 million year-on-year, primarily due to reduced payments for project costs[14]. - The net cash flow from financing activities was CNY 61.54 million, a decrease of CNY 153.19 million compared to the previous year, mainly due to a reduction in loan repayments[14]. - Cash flow from operating activities showed a net outflow of CNY 15,243,396.13, an improvement from a net outflow of CNY 78,694,490.15 in the same period last year[27]. - The net cash flow from financing activities was CNY 61,542,372.99, a recovery from a net outflow of CNY 91,650,700.20 in the previous year[28]. - Net cash flow from operating activities was negative at CNY -6,147,082.80, an improvement from CNY -106,524,699.06 in the same period last year[29]. - The net increase in cash and cash equivalents for the period was CNY 14,646,780.85, contrasting with a decrease of CNY -215,630,351.96 in Q1 2014[29]. Assets and Liabilities - Total assets as of the end of the reporting period reached CNY 1,760,584,715.81, an increase of 1.06% compared to the end of the previous year[7]. - The company's total liabilities amounted to CNY 969,368,800.00, reflecting a 1.41% increase from the beginning of the year[12]. - Current assets totaled CNY 609.76 million, up from CNY 572.13 million at the beginning of the year[17]. - Total liabilities increased to CNY 741,050,136.43 from CNY 714,389,678.92 at the beginning of the year[21]. - Current liabilities totaled CNY 630,003,798.19, up from CNY 554,088,340.69 year-on-year[21]. - The company’s equity attributable to shareholders was CNY 1,014,060,791.15, down from CNY 1,018,700,563.25 at the beginning of the year[21]. Shareholder Information - The number of shareholders reached 10,802 by the end of the reporting period[10]. - The company has committed to maintaining asset independence and operational independence as per the commitments made by major shareholders[16]. Operational Metrics - Short-term borrowings increased by 62.91% to CNY 246,000,000.00, primarily due to operational financing needs[12]. - Pre-receipts increased by 84.64% to CNY 39,768,800.00, mainly due to unsettled operational projects[13]. - Total operating costs decreased by 9.4% to CNY 223,801,283.92 from CNY 247,127,353.01 year-on-year[24]. - The company incurred operating costs of CNY 67,865,954.44, down from CNY 76,359,280.31 in Q1 2014, reflecting a cost reduction strategy[26]. - Cash paid to employees decreased to CNY 28,777,759.25 from CNY 35,497,103.19 in the previous year[29].

西安曲江文化旅游股份有限公司 2014 年第三季度报告 1 / 18 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 9 | 2014 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人贾涛、主管会计工作负责人狄洁华及会计机构负责人（会计主管人员）刘强保证季 度报告中财务报表的真实、准确、完整。 2014 年第三季度报告 单位：元 币种：人民币 项目 本期金额 （7－9 月） 年初至报告期末金额 （1-9 月） 说明 非流动资产处置损益 -94,378.66 -200,537.65 计入当期损益的政府补助，但与公司正常经营 业务密切相关，符合国家政策规定、按照一定 标准定额或定量持续享受的政府补助除外 128,727.70 288,727.70 除上述各项之外的其他营 ...

Financial Performance - The company's operating revenue for the first half of 2014 was approximately RMB 526.72 million, a slight increase of 0.42% compared to RMB 524.51 million in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 24.02% to RMB 22.77 million from RMB 29.96 million in the previous year[21]. - The basic earnings per share for the first half of 2014 was RMB 0.13, down 23.53% from RMB 0.17 in the same period last year[20]. - The net cash flow from operating activities improved by 51.31%, reaching RMB -90.83 million compared to RMB -186.53 million in the previous year[21]. - The total assets of the company decreased by 5.23% to RMB 1.85 billion from RMB 1.96 billion at the end of the previous year[21]. - The company's net assets attributable to shareholders increased by 3.01% to RMB 778.44 million from RMB 755.67 million at the end of the previous year[21]. - The company reported a 19.64% increase in net profit after deducting non-recurring gains and losses, reaching RMB 22.78 million compared to RMB 19.04 million in the previous year[21]. - The weighted average return on net assets decreased to 2.97%, down 1.40 percentage points from 4.37% in the previous year[20]. - The company's comprehensive gross profit margin increased by 2.43 percentage points to 34.12%, attributed to improved internal management and cost control[30]. - The operating revenue from scenic area management was CNY 324.35 million, with a gross margin of 45.93%, reflecting a year-on-year increase of 3.28 percentage points[34]. Asset Management - As of June 30, 2014, the company's total assets amounted to CNY 1,854.81 million, a decrease of 5.23% year-on-year, primarily due to debt repayment during the reporting period[25]. - The company has established a comprehensive operational management model for historical cultural scenic spots, combining cultural themes with tourism product development[23]. - The company operates multiple cultural tourism attractions, including a national 5A scenic area and several 4A scenic areas, contributing to its market presence[24]. - The company has a specific advantage in utilizing scarce historical and cultural resources for tourism development, particularly in the Shaanxi and Xi'an regions[36]. - The company has consolidated the assets of the Qujiang Pool Relics Park into the Big Wild Goose Pagoda Scenic Area Management Company, which will assume all related contracts and debts[56]. Investment and Development - The company reported a significant investment in scenic area operations, amounting to 9,565,741.40, reflecting a stable market pricing strategy[47]. - The company is actively pursuing new agreements and partnerships to strengthen its market position, with a focus on the hotel and catering sector[47]. - Future outlook includes continued investment in scenic area development and hotel operations to drive growth and enhance customer experience[47]. - The company has been involved in significant asset restructuring and acquisitions, including the purchase of cultural tourism assets valued at CNY 915,310,000.00[105]. - The company operates in various sectors including tourism project development, scenic area management, and real estate development[107]. Financial Liabilities and Guarantees - The company has no external guarantee liabilities as of the end of the reporting period[52]. - The total amount of external guarantees provided by the company was 19.61 million yuan, all of which were undertaken by Huahan Industrial[52]. - The company has successfully released the joint guarantee responsibility for 1.61 million yuan related to Xi'an Huaheng Technology Industrial Co., Ltd.[52]. - The company has completed the external guarantee responsibility for 18 million yuan related to Jinhua Investment Co., Ltd.[52]. Corporate Governance and Compliance - The company has maintained a governance structure that aligns with the requirements of the Corporate Governance Code[60]. - The company has ensured that related party transactions are conducted in compliance with legal and regulatory requirements[58]. - The company has revised its information disclosure management system to enhance operational standards and protect stakeholder interests[61]. - The company participated in an investor reception event on May 15, 2014, to discuss its financial status and governance with investors[62]. - The company has disclosed the fulfillment status of commitments made by its actual controllers and shareholders, confirming no non-compliance or overdue commitments[62]. Shareholder Information - The total number of shares before the change was 179,509,675, with no change in the total number of shares during the reporting period[71]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 51.35% of the shares, totaling 92,176,234 shares[76]. - The second-largest shareholder, Hai Fudong Fund Company, holds 4.36% of the shares, totaling 7,820,009 shares[76]. - The total number of shareholders at the end of the reporting period was 11,429[76]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased from CNY 357,148,829.50 at the beginning of the year to CNY 177,116,951.62 at the end of the period, a decline of approximately 50.5%[87]. - The company's total liabilities decreased from CNY 1,197,635,005.14 to CNY 1,073,915,386.21, a decrease of approximately 10.4%[89]. - The total cash outflow from investing activities was 61,403,686.40 RMB, significantly lower than 206,435,352.33 RMB in the same period last year, reflecting a 70% decrease[98]. - The company incurred financial expenses of CNY 17,137,642.63, which is an increase from CNY 11,874,459.49, reflecting a rise of approximately 44.0%[95]. Employee Compensation and Benefits - The company has disclosed employee compensation, including wages, bonuses, and social insurance contributions, but specific figures are not provided in the documents[169]. - The company provides non-monetary benefits to employees, although specific details on the valuation of these benefits are not disclosed[169]. - The company has a formal plan for employee compensation related to severance, which is recognized in the current period's profit and loss[177]. Accounting Policies and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance of the People's Republic of China[111]. - The financial statements are prepared based on the assumption of continued operations and reflect the company's financial position accurately[110]. - The company follows the accrual basis of accounting and generally uses historical cost for measurement, ensuring reliable and measurable amounts[115]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[117]. Inventory and Receivables Management - The company has identified significant bad debts, with 100% provision for several accounts deemed difficult to collect[189]. - The aging analysis of accounts receivable shows that 94.01% (273.24 million RMB) is within one year, indicating a strong short-term collection outlook[189]. - The company has reported a total of 58,472,080.61 in inventory at the end of the period, with a provision for inventory depreciation of 1,540,676.56[200].

Financial Performance - The company reported a net profit of ¥83,409,511.01 for the year 2013, with an opening undistributed profit of -¥225,121,608.46, resulting in a distributable profit of -¥141,712,097.45[6]. - The company achieved operating revenue of CNY 1,297,658,670.66 in 2013, representing a year-on-year increase of 13.83% compared to CNY 1,140,003,723.16 in 2012[46]. - The net profit attributable to shareholders of the listed company was CNY 84,751,111.50, a growth of 19.77% from CNY 70,759,525.78 in the previous year[44]. - The company reported a significant decrease in net cash flow from operating activities, which was CNY 22,086,896.88, down 75.75% from CNY 91,079,905.19 in 2012[46]. - The total assets of the company as of December 31, 2013, were CNY 1,957,107,732.17, an increase of 11.55% from CNY 1,754,493,351.25 at the end of 2012[44]. - The company’s weighted average return on equity increased to 11.88% in 2013, up by 1.45 percentage points from 10.43% in 2012[38]. - The company’s operating profit for 2013 was CNY 90,636,700, an increase of 39.50% compared to the previous year[44]. - The company’s financial expenses rose significantly by 121.71% to CNY 37,601,108.41 in 2013, compared to CNY 16,959,562.78 in 2012[46]. - The company’s net profit after deducting non-recurring gains and losses was CNY 75,934,138.32, reflecting a 17.02% increase from CNY 64,889,632.33 in 2012[38]. - The overall gross profit margin for the company improved to 35.12%, an increase of 3.09 percentage points compared to the previous year[55]. Business Operations - The company has undergone changes in its main business operations, shifting focus to tourism project development, scenic area management, and hotel investment since 2012[28]. - The company’s main business was further expanded in November 2013 to include real estate development and sales[29]. - The company’s tourism commercial real estate development generated approximately CNY 189 million in revenue, significantly impacting the operating results for the period[47]. - The company is focusing on expanding its business in Shanxi province, which is a new area of operation for the company[57]. - The company plans to achieve approximately 1.2 billion RMB in revenue for 2014, with costs controlled around 800 million RMB and period expenses at 300 million RMB[96]. - The company will focus on upgrading tourism products and enhancing collaboration between travel agencies and scenic spots to improve operational efficiency[94]. - The company intends to adjust loss-making business units through transfer, sale, and partnership strategies to achieve profitability[90]. Shareholder and Capital Management - The company has not proposed a cash dividend distribution plan for 2013, despite having positive undistributed profits[100]. - The board of directors and senior management received a total of RMB 256.64 million in compensation during the reporting period[167]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 51.35% of the shares, totaling 92,176,234 shares, with 46,088,100 shares pledged[150]. - The total number of shares remained unchanged at 179,509,675, with no changes in the share capital structure during the reporting period[144]. - The company has a lock-up period of 36 months for shares acquired during a major asset restructuring, which affects 92,176,234 shares[154]. Audit and Compliance - The company received a standard unqualified audit report from Sigma Accounting Firm for the financial year[6]. - The board of directors and senior management have confirmed the accuracy and completeness of the annual report[4]. - The audit committee confirmed that the 2013 financial report preparation process complied with regulations and accurately reflected the company's financial status[199]. - There were no investigations or penalties imposed on the company or its executives during the reporting period[129]. - The company has retained Sigma Accounting Firm for auditing services with a fee of 450,000 RMB for the current year[128]. Social Responsibility and Community Engagement - The company actively fulfills its social responsibilities, including employee welfare and community engagement initiatives[101]. - The company engaged in various charitable activities, including donations of essential supplies and educational support for underprivileged children in Shaanxi Province[103]. Related Party Transactions - The company reported a total of 76,813,222.75 CNY in actual transactions with related parties for the year 2013, compared to an estimated amount of 53,207,000 CNY[117]. - The company’s actual expenses for related party transactions with Xi'an Qujiang Cultural Group and its subsidiaries amounted to 76,813,222.75 CNY[117]. - The company provided a guarantee of 18 million yuan for a bank loan to Jinhua Investment Co., which has not been repaid, resulting in joint guarantee liability[112]. Market and Industry Trends - In 2013, China's tourism industry generated a total revenue of 29,475 billion RMB, reflecting a growth of 14% compared to the previous year[88]. - The domestic tourism market saw 3.262 billion person-times, an increase of 10.3% year-on-year, with domestic tourism revenue reaching 26,276 billion RMB, up 15.7%[88]. - The company has a unique competitive advantage due to its access to scarce historical and cultural resources, particularly in Shaanxi and Xi'an, which enhances its tourism development capabilities[73]. Management and Governance - The company conducted four shareholder meetings during the reporting period, adhering to legal and regulatory requirements[194]. - The company has implemented a training plan focusing on enhancing managerial capabilities and improving service levels through various training programs[182]. - The company has established and implemented an insider information management system to regulate the reporting of significant information[191].

Financial Performance - Net profit attributable to shareholders was CNY -3,297,993.03, a decrease of 282.01% year-on-year[7] - The net profit attributable to the parent company was a loss of CNY 3.30 million, a decrease of CNY 5.11 million compared to the previous year, primarily due to increased operating and financial expenses[15] - The company reported a net loss of CNY 4,045,630.93 for Q1 2014, compared to a net profit of CNY 1,054,474.94 in the previous year, indicating a significant decline in profitability[29] - Net profit for Q1 2014 was a loss of CNY 11,219,783.38, compared to a loss of CNY 2,600,766.38 in the same period last year, indicating a deterioration in performance[31] - The company’s total comprehensive income for Q1 2014 was a loss of CNY 11,219,783.38, compared to a loss of CNY 2,600,766.38 in the previous year, indicating a significant decline in overall financial health[31] Revenue and Expenses - Operating revenue increased by 0.43% to CNY 239,894,638.64 compared to the same period last year[7] - The company reported a total operating revenue of CNY 239.89 million for the first quarter of 2014, an increase of CNY 1.03 million year-on-year[15] - Total operating revenue for Q1 2014 was CNY 239,894,638.64, a slight increase from CNY 238,863,834.14 in the same period last year, representing a growth of approximately 0.43%[29] - Total operating costs increased to CNY 247,127,353.01 from CNY 238,566,135.67, marking an increase of about 3.3% year-over-year[29] - The company reported a total operating expense of CNY 317,460,611.32 in Q1 2014, a decrease from CNY 358,081,139.61 in the same period last year[33] Assets and Liabilities - Total assets decreased by 9.87% to CNY 1,763,956,115.62 compared to the end of the previous year[7] - Total liabilities decreased by 15.79% to CNY 100,852,900.00 compared to the beginning of the year[14] - Current liabilities decreased by 23.07% to CNY 76,523,220.00 compared to the beginning of the year[14] - The company’s total assets decreased to CNY 1,866,359,577.68 from CNY 2,037,553,606.67, a decrease of approximately 8.4%[27] - Total liabilities decreased to CNY 872,240,090.37 from CNY 1,032,214,335.98, a reduction of approximately 15.5%[27] Cash Flow - Cash flow from operating activities improved by 48.44%, reaching CNY -78,694,490.15[7] - The net cash flow from operating activities was a negative CNY 78.69 million, which is a decrease in outflow by CNY 73.92 million compared to the same period last year[15] - Operating cash flow for Q1 2014 showed a net outflow of CNY 78,694,490.15, an improvement from a net outflow of CNY 152,615,164.72 in the previous year[33] - The net cash flow from financing activities was a negative CNY 91,650,700.20 in Q1 2014, contrasting with a positive CNY 112,180,015.27 in the same period last year[34] Shareholder Information - The number of shareholders reached 12,055 as of the report date[11] - The company has committed to maintaining independence in its operations and avoiding conflicts of interest with its major shareholders[19] Borrowings and Financial Expenses - Financial expenses increased by CNY 3.35 million, representing a 61.88% rise year-on-year, mainly due to increased bank borrowings for operational needs[15] - The company’s short-term borrowings decreased by CNY 125 million, a reduction of 34.34% from the beginning of the year, primarily due to repayments made during the period[15] - The company raised CNY 155,000,000.00 through borrowings in Q1 2014, compared to CNY 150,000,000.00 in the previous year[34] Cash and Cash Equivalents - The company’s cash and cash equivalents decreased by 62.90% to CNY 132,511,800.00[13] - The company’s cash and cash equivalents decreased significantly to CNY 74,292,059.75 from CNY 289,922,411.71, a decline of about 74.5%[25] - Total cash and cash equivalents at the end of Q1 2014 were CNY 132,511,838.24, down from CNY 357,148,829.50 at the beginning of the period[34] Accounts Receivable and Prepaid Accounts - The company’s accounts receivable increased to CNY 222.35 million from CNY 197.79 million at the beginning of the year[22] - Prepaid accounts increased by 69.38% to CNY 33,324,100.00 compared to the beginning of the year[13] Future Plans - The company plans to continue focusing on reducing operational costs and improving cash flow management in the upcoming quarters[15]