西安曲江文化旅游股份有限公司 2022 年第三季度报告 证券代码：600706 证券简称：曲江文旅 西安曲江文化旅游股份有限公司 2022 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法律责任。 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。 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信 息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 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 | 上年同期 | | 本报告 期比上 年同期 增减变 动幅度 | 年初至报告期 末 | 上年同期 | | 年初至 报告期 末比上 年同期 增减变 动幅度 | | | | | ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥449,099,387.17, a decrease of 28.87% compared to ¥631,374,965.28 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥85,135,929.13, compared to -¥17,399,592.46 in the previous year, indicating a significant decline[19]. - The net cash flow from operating activities was ¥48,969,911.17, down 48.56% from ¥95,189,625.87 in the same period last year[19]. - The total assets at the end of the reporting period were ¥3,541,019,861.35, a decrease of 5.72% from ¥3,755,700,815.34 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 7.03% to ¥1,125,359,707.36 from ¥1,210,495,636.49 at the end of the previous year[19]. - The company's basic earnings per share for the first half of the year is -0.33 yuan, a decrease from -0.08 yuan in the same period last year[21]. - The diluted earnings per share for the first half of the year is also -0.33 yuan, reflecting the same decline as the basic earnings per share[21]. - The net profit attributable to shareholders decreased significantly due to reduced revenues from major attractions, including the Ocean Polar Park and the Grand Tang Furong Garden, primarily impacted by the pandemic[22]. - The net cash flow from operating activities decreased compared to the same period last year, mainly due to a reduction in sales collections[22]. - The company reported non-recurring gains of 5,391,236.35 yuan from government subsidies related to its normal business operations[24]. - The total amount of non-recurring gains, after tax effects and minority interests, is 9,961,179.75 yuan[25]. - The company reported a net loss of CNY 22,371,349.39 for the period, compared to a loss of CNY 21,197,825.13 in the previous period[126]. - The total comprehensive loss for the first half of 2022 was RMB 92,161,287.46, compared to a comprehensive income of RMB 20,548,295.13 in the first half of 2021[129]. - The company reported a decrease in retained earnings, with the current period's balance at CNY 269,735,739.15, down from the previous period[138]. - The total equity attributable to the parent company at the end of the first half of 2022 was CNY 1,233,134,547.89, a decrease of CNY 85,135,929.13 compared to the previous period[138]. Operational Highlights - The company operates several major cultural tourism attractions, including the Big Wild Goose Pagoda and the Grand Tang Furong Garden, which are classified as national 5A and 4A scenic spots[26]. - The company has diversified its tourism services, offering a comprehensive product system that includes inbound, outbound, and domestic tourism, as well as customized travel and conference services[27]. - In the first half of 2022, the company achieved operating revenue of CNY 449.10 million, with scenic area operation management accounting for approximately 71.46% of total revenue[29]. - Domestic tourism in the first half of 2022 saw a total of 1.455 billion trips, a decrease of 22.2% year-on-year[30]. - Domestic tourism revenue totaled CNY 1.17 trillion, down 28.2% compared to the previous year[31]. - The company hosted a series of events attracting 2.3 million visitors, including various themed activities to boost tourism consumption[37]. - The company launched four digital collectibles, achieving over 50,000 views and 300,000 media exposures[38]. - The company is actively establishing a digital cultural technology company to further engage in the digital economy[38]. - The company has integrated its performance resources and established four strategic centers to enhance operational capabilities[36]. - The company has implemented a standardized management system for its scenic spots and hotels, aiming to create a leading smart management platform[38]. - The company is exploring new operational strategies to enhance the influence of the Datang Furong Garden, including utilizing facilities for commercial activities[91]. Financial Position - Cash and cash equivalents dropped by 51.46% to CNY 193,608,359.54, mainly due to repayments of bank loans and payments for project costs[45]. - The company's total liabilities decreased by 5.27% to CNY 2,389,546,600.92, compared to CNY 2,522,566,267.45 in the previous year[46]. - The company's inventory increased by 10.87% to CNY 60,926,396.08 compared to CNY 54,952,155.78 in the previous year[45]. - The company reported a 46.70% increase in deferred tax assets, reaching CNY 46,370,482.36, primarily due to increased deductible losses[45]. - The company has restricted assets totaling CNY 801,564,453.27, mainly due to collateral for bank loans[49]. - The company’s short-term borrowings decreased by 54.76% to CNY 58,975,015.36, reflecting repayments made during the period[46]. - The company's total current liabilities decreased to CNY 58,975,015.36 from CNY 130,360,269.14, a reduction of about 54.8%[123]. - Total liabilities decreased from CNY 2,522,566,267.45 to CNY 2,389,546,600.92, a reduction of approximately 5.3%[124]. - The company’s total current assets decreased from CNY 749,718,389.10 to CNY 565,172,125.54, a decline of approximately 24.6%[125]. - The company’s total equity attributable to shareholders decreased from CNY 1,210,495,636.49 to CNY 1,125,359,707.36, a decline of approximately 7.0%[124]. Strategic Initiatives - The company plans to enhance product upgrades, strengthen market promotion, and control costs to adapt to changing consumer preferences and market conditions[31]. - The company aims to expand its market reach and revenue through the commercialization of cultural tourism creative products[33]. - The company is actively exploring new growth opportunities in the tourism sector, including local and short-distance travel trends[29]. - The company emphasizes the importance of brand marketing and communication to enhance market recognition and support future development[34]. - The company is focusing on strategic investments and market expansion to enhance growth prospects in the cultural tourism sector[118]. - The company has plans for market expansion and new product development in the tourism sector, focusing on enhancing visitor experiences[88]. - The company aims to improve asset quality, financial status, and enhance sustainable profitability through strategic planning and asset injection[81]. Risk Management - The report includes a risk statement indicating potential risks faced by the company, which investors should be aware of[6]. - The company faces risks from public health events, seasonal factors affecting tourism, and potential delays in management fee payments[63]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[5]. - The company has not reported any major contracts or significant guarantees that remain unfulfilled during the reporting period[91]. - There are no significant litigation or arbitration matters during the reporting period[84]. - The company and its controlling shareholders have maintained good integrity without any major debts or court judgments outstanding[84]. Corporate Governance - The company has undergone changes in its board of directors, including resignations of key executives[95]. - The company announced a half-year performance loss forecast for 2022[102]. - The company confirmed that there were no frozen or sealed assets during the reporting period[106]. - The company has not faced any administrative penalties or investigations related to cultural relic protection laws during the reporting period[106]. - The company has not disclosed any significant changes in accounting policies or prior period error corrections during the first half of 2022[138]. - The company has confirmed that there are no significant doubts regarding its ability to continue as a going concern for at least the next 12 months[153]. Environmental and Social Responsibility - The company promotes a green office concept, focusing on resource conservation and low-carbon practices in daily operations[75]. - The company has successfully implemented management system certifications including ISO9001, ISO14001, and GB/45001, enhancing environmental awareness among employees[76]. - There were no environmental penalties or pollution incidents reported during the reporting period[75]. - The company is committed to sustainable development and adheres to national and local environmental protection laws[75]. - The company has established a video conferencing system to support electronic and networked office models, furthering its green initiatives[76]. Related Party Transactions - The estimated amount of daily related party transactions for 2022 is expected to be CNY 235.695 million[84]. - The actual amount of daily related party transactions for the reporting period was 66.9663 million yuan, within the expected range at the beginning of the year[85]. - The total related party transaction amount reached 336.31033 million yuan, with a market price deviation of 8.09%[86]. - The company purchased goods from related parties amounting to 42.46372 million yuan, with a market pricing method applied[85]. - Sales of goods to related parties totaled 293.73198 million yuan, reflecting a market pricing method with a deviation of 7.06%[86]. - The company provided labor services to related parties amounting to 4.3009328 million yuan, with a market pricing method applied[86]. Shareholder Information - The company has a 20-year management agreement for the Datang Furong Garden, which commenced on January 1, 2011, and will expire on December 31, 2030[91]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 114,511,121 shares, accounting for 44.90% of total shares[115]. - The company issued 39,648,175 new shares through a private placement, which was approved by the China Securities Regulatory Commission[109]. - The number of restricted shares decreased by 39,648,175, resulting in 1,921,200 restricted shares remaining, which is 0.75% of total shares[108]. - The number of unrestricted circulating shares increased to 253,138,585, representing 99.25% of total shares[108].

Financial Performance - The company reported a net profit of -5,054,384.24 RMB for the year ending December 31, 2021, resulting in a total accumulated undistributed profit of -21,197,825.13 RMB[7]. - The company’s operating revenue for 2021 was CNY 1,365,356,307.59, representing a year-on-year increase of 21.76% compared to CNY 1,121,378,396.37 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 7,405,625.82, a significant recovery from a loss of CNY 71,598,583.70 in 2020[21]. - The net cash flow from operating activities reached CNY 189,950,645.35, marking a substantial increase of 299.76% from CNY 47,515,772.03 in 2020[21]. - The total assets at the end of 2021 amounted to CNY 3,755,700,815.34, reflecting a 15.13% increase from CNY 3,262,266,891.87 at the end of 2020[21]. - The basic earnings per share for 2021 was CNY 0.03, a recovery from a loss of CNY 0.33 per share in 2020[22]. - The weighted average return on equity increased to 0.71% in 2021, up by 7.60 percentage points from -6.89% in 2020[22]. - The company reported a net profit of CNY 31,444,142.28 in Q4 2021, contrasting with losses in the earlier quarters[25]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,210,495,636.49, an increase of 20.85% from CNY 1,001,678,947.99 at the end of 2020[21]. Corporate Governance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[7]. - The company maintains independence from its controlling shareholder in business, personnel, and financial aspects[99]. - The company has emphasized the importance of compliance with legal and regulatory requirements during the election of board members and management[105]. - The company’s governance structure has been reinforced with the appointment of experienced individuals in key positions, enhancing operational efficiency[107]. - The company has demonstrated a commitment to transparency and accountability in its corporate governance practices[107]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 2.252 million yuan[111]. - The company has no record of penalties from securities regulatory agencies in the past three years[113]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential risks in the management discussion section[7]. - The company faces risks from public health events like COVID-19, which significantly impact the tourism industry[93]. - Seasonal factors and macroeconomic trends closely affect the company's operations, leading to potential industry risk[93]. - The company is enhancing accounts receivable management to mitigate risks associated with delayed payments from management fees[93]. - Investment projects are based on thorough market research, but uncertainties in the economic and policy environment may affect expected returns[93]. Strategic Initiatives - The company plans to continue enhancing its cultural and tourism offerings, anticipating a gradual recovery in the tourism sector[44]. - The company aims to enhance its operational capabilities and project management to ensure sustainable development and growth in the tourism sector[91]. - The company plans to accelerate its "going out" strategy, focusing on collaboration and innovation to strengthen its market position[90]. - The company is focusing on new product development and technological advancements to enhance market competitiveness[36]. Acquisitions and Investments - The company acquired 100% equity of Xi'an Modern Tangren Street Management Co., Ltd. from its controlling shareholder, Xi'an Qujiang Cultural Industry Investment (Group) Co., Ltd.[23]. - The company acquired 55% of Wuxi Huipao Sports Co., aiming to create synergies between culture, tourism, and sports[38]. - The company invested 38% in Wenzhou Yandangshan Quwen Tourism Development Co., Ltd. with a cash contribution of 38 million yuan[74]. - The company completed the acquisition of 100% equity in Xi'an Modern Tangren Street Management Co., for RMB 21.05 million, based on an asset valuation report[177]. Employee Management - The company reported a total of 4,446 employees, with 1,412 in the parent company and 3,034 in major subsidiaries[121]. - The employee composition includes 2,521 production staff, 270 sales personnel, 935 technical staff, 265 financial staff, and 455 administrative staff[121]. - The company aims to enhance the professional skills of its employees through various training programs, including specialized courses for finance and human resources[127]. - The company has established a talent cultivation plan through its Qujiang Cultural Tourism College to develop industry-leading and composite management talents[127]. Related Party Transactions - The total amount of related transactions reached CNY 1,247.84 million, accounting for 7.86% of similar transactions[170]. - The largest single related transaction was the sale of goods to Xi'an Xinzheng Industrial Co., Ltd., amounting to CNY 1,068.42 million, representing 6.74% of total related transactions[170]. - The company utilized market pricing methods for all related transactions, ensuring compliance with pricing principles[170]. - The total amount of related party transactions reached ¥66,463,396.67, accounting for 5.21% of similar transactions[173]. Community Engagement and Social Responsibility - The company has actively participated in pandemic prevention efforts, organizing staff to support community needs during lockdowns in December 2021[148]. - The company has hosted various public welfare activities, including cultural heritage protection events and community support initiatives[149]. - The company has engaged in various community service activities, reinforcing its social responsibility as a state-owned enterprise[148]. - The company has developed several cultural tourism projects, contributing to the local economy and promoting cultural heritage[146]. Financial Reporting and Audit - The company has received a standard unqualified audit report from Sigma Accounting Firm, ensuring the accuracy and completeness of the financial statements[7]. - The internal control audit report for 2021 received a standard unqualified opinion, confirming effective financial reporting controls[139]. - The company has appointed Sigma Accounting Firm for the 2021 financial report and internal control audit, with a remuneration of 455,000 RMB[165].

Financial Performance - The company's operating revenue for Q1 2022 was ¥197,851,154.54, a decrease of 28.23% compared to ¥262,071,348.92 in the same period last year[2] - The net profit attributable to shareholders was -¥50,421,112.12, compared to -¥20,235,016.17 in the previous year, indicating a significant decline[2] - The net cash flow from operating activities was -¥100,982,251.71, worsening from -¥77,528,324.33 in the same period last year[2] - Basic and diluted earnings per share were both -¥0.20, down from -¥0.09 year-on-year[2] - The company reported a total revenue of 1,733,102 million RMB for the first quarter of 2022[11] - Total operating revenue for Q1 2022 was ¥197.85 million, a decrease of 28.2% compared to ¥275.66 million in Q1 2021[24] - Net profit for Q1 2022 was a loss of ¥54.09 million, compared to a loss of ¥22.25 million in Q1 2021, representing a 142.5% increase in losses year-over-year[24] - Cash flow from operating activities in Q1 2022 was a net outflow of ¥100.98 million, compared to a net outflow of ¥82.73 million in Q1 2021[25] - The company experienced a significant increase in management expenses, which rose to ¥45.26 million in Q1 2022 from ¥41.13 million in Q1 2021, an increase of 10.5%[24] - Other income decreased to ¥322.50 thousand in Q1 2022 from ¥1.62 million in Q1 2021, a decline of 80.1%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,652,851,747.53, a decrease of 2.74% from ¥3,755,700,815.34 at the end of the previous year[2] - The company's current assets totaled RMB 1,477,028,990.04, down from RMB 1,544,156,603.59, indicating a decrease of about 4.35%[22] - The company's cash and cash equivalents decreased significantly from RMB 398,896,773.11 to RMB 226,632,851.33, a decline of approximately 43.2%[22] - Accounts receivable increased from RMB 1,000,269,269.64 to RMB 1,105,435,442.75, representing an increase of about 10.5%[22] - Total liabilities decreased from RMB 2,522,566,267.45 to RMB 2,471,311,822.61, a reduction of approximately 2.03%[23] - The company's short-term borrowings increased from RMB 130,360,269.14 to RMB 161,132,628.96, an increase of about 23.6%[23] - The company's total equity decreased from RMB 1,233,134,547.89 to RMB 1,181,539,924.92, reflecting a decline of approximately 4.2%[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 30,767[10] - The top shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 114,511,121 shares of common stock[11] Company Activities and Developments - The company completed the acquisition of 100% equity in Xi'an Modern Tang Street Management Co., Ltd., which is expected to enhance its market position[4] - The company did not report any new product launches or technological advancements during this quarter[8] - The company has received government subsidies, details of which were announced on January 5, 2022[12] - The company has reported progress on accounts receivable collection as of January 27, 2022[13] - The company experienced abnormal stock trading fluctuations, with multiple announcements made between January 22 and April 26, 2022[12][13][16][17] - The company announced a profit distribution plan for the 2021 annual report on April 27, 2022[18] - The company is in the process of reappointing its accounting firm, with details released on April 27, 2022[18] - The company held its 2021 annual shareholders' meeting on April 27, 2022[18] - The company has not disclosed any related party transactions in the recent reports[18] - The company has not provided specific guidance for future performance in the available documents[11][12][13] Legal and Regulatory Matters - The company is currently involved in a civil lawsuit seeking compensation of RMB 30.1 million for property damage, with the case awaiting court judgment[19] - The company reported no overdue loans during the reporting period[20] - The company has not faced any administrative penalties or investigations related to environmental protection laws[20]

Financial Performance - The company reported a net profit of -5,054,384.24 RMB for the year 2021, leading to a total accumulated undistributed profit of -21,197,825.13 RMB as of December 31, 2021[5]. - The board of directors decided not to distribute profits for the year 2021 due to the negative undistributed profit[5]. - The company's operating revenue for 2021 was CNY 1,365,356,307.59, representing a 21.76% increase compared to CNY 1,121,378,396.37 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 7,405,625.82, a significant recovery from a net loss of CNY 71,598,583.70 in 2020[19]. - The net cash flow from operating activities increased by 299.76% to CNY 189,950,645.35 in 2021, compared to CNY 47,515,772.03 in 2020[19]. - The total assets at the end of 2021 were CNY 3,755,700,815.34, reflecting a 15.13% increase from CNY 3,262,266,891.87 at the end of 2020[19]. - The basic earnings per share for 2021 was CNY 0.03, a recovery from a loss of CNY 0.33 per share in 2020[20]. - The company reported a total of CNY 35,328,840.82 in non-recurring gains for 2021, down from CNY 69,804,303.47 in 2020[26]. - The company achieved a total operating revenue of CNY 1,365,356,307.59 in 2021, representing a year-on-year increase of 21.76%[37]. - The company reported a gross profit margin of 24.16%, which is an increase of 2.62 percentage points year-on-year[45]. Acquisitions and Investments - The company acquired 100% equity of Xi'an Modern Tang Street Management Co., Ltd. from its controlling shareholder, Xi'an Qujiang Cultural Industry Investment (Group) Co., Ltd.[21]. - The company expanded its footprint by acquiring 55% of Wuxi Huipao Sports Co., aiming to synergize cultural, tourism, and sports sectors[31]. - The company invested approximately RMB 190 million in the renovation of the Tang Dynasty Huazhong Hotel, enhancing various facilities to meet diverse traveler needs[30]. - The company acquired a controlling subsidiary, Wuxi Huipao, contributing to revenue growth in the sports projects and landscaping segments[48]. - The company plans to invest in the establishment of a cultural industry park in Jingzhou, with the proposal approved on April 2, 2021[122]. - The company acquired 100% equity of Xi'an Modern Tang Street Management Co., Ltd. for a cash price of 21.0543 million yuan[182]. Market Expansion and Development - The company has not disclosed any plans for market expansion, new products, or mergers and acquisitions in the provided documents[6]. - The company plans to continue expanding its market presence and developing new projects to enhance revenue streams[21]. - The company is focused on expanding its market presence through acquisitions, including the acquisition of a 55% stake in Wuxi Huipao Sports Co., Ltd.[78]. - The company plans to enhance its core capabilities in historical and cultural exploration and transformation, focusing on the integration of culture, commerce, and tourism during the "14th Five-Year Plan" period[92]. - The company aims to comply with national industrial policies and relevant environmental regulations in its operations[158]. Governance and Compliance - The audit report issued by Sigma Accounting Firm was a standard unqualified opinion, ensuring the financial report's authenticity and completeness[8]. - The company emphasized the importance of governance and compliance with relevant laws and regulations to strengthen investor relations management[98]. - The company conducted a total of 123 investor communication activities during the reporting period, including 31 institutional and 92 individual participants[99]. - The company reported no non-compliance or overdue commitments from actual controllers, shareholders, or related parties as of the end of the reporting period[99]. - The company has maintained a stable management structure with no changes in key positions[105]. - The company has a structured decision-making process for determining the remuneration of its directors and senior management, involving the board and shareholders[114]. Employee Development and Welfare - The company emphasizes talent development through various training programs, enhancing employee capabilities and supporting growth[32]. - The company has implemented a comprehensive training program for employees, focusing on various levels of management and specialized skills to enhance overall capabilities[130][132]. - Employee welfare programs include paid training, holiday benefits, and birthday gifts, enhancing job satisfaction and happiness[153]. - The company emphasizes occupational health and safety, conducting regular health check-ups and organizing various recreational activities for employees[154]. Challenges and Risks - The company has acknowledged potential risks in its future development, which are detailed in the management discussion and analysis section[7]. - The tourism industry faced ongoing challenges due to the pandemic, impacting recovery efforts, but the company remains optimistic about future growth[33]. - The company recognizes the ongoing impact of the COVID-19 pandemic as the largest uncertainty affecting the recovery of the tourism industry in 2022[91]. - The company faces risks related to public health events, seasonal factors affecting tourism, and potential uncertainties in project implementation and market conditions[96]. Strategic Initiatives - The company is committed to enhancing brand management and operational efficiency through a systematic approach to brand operation[95]. - The company will explore new development models in the post-pandemic era, leveraging opportunities in the digital economy to optimize its product offerings and industry structure[94]. - The company aims to enhance user engagement through improved customer service and innovative marketing strategies[174]. - The company is investing in new technologies to improve operational efficiency and customer experience in its service offerings[172]. Community Engagement and Cultural Heritage - The company actively protects and promotes intangible cultural heritage in Shaanxi, with "Dongcang Drum Music" recognized by UNESCO as a "Masterpiece of the Oral and Intangible Heritage of Humanity"[151]. - The company organized various charitable activities, such as the "We Are Together" event and the "New Quilt for Mother Earth" initiative, to engage with the community and promote cultural heritage[152]. - In 2021, the company implemented strict pandemic prevention measures across its scenic spots, including comprehensive disinfection and community support initiatives during lockdowns[152]. Financial Management and Reporting - The company has established a cash dividend policy to ensure stable returns to investors, aligning with regulatory guidelines and shareholder interests[134]. - The company reported a significant increase in tax payments, with a rise of 69.42% in tax expenses to ¥51,654,687.11[54]. - The company has no significant litigation or arbitration matters during the reporting period[169]. - The company has no major accounting errors to correct during the reporting period[164].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 292,027,534.66, a decrease of 15.97% compared to the same period last year[2]. - The net profit attributable to shareholders of the listed company for Q3 2021 was a loss of CNY 6,662,385.12, representing a decline of 108.70% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 16,788,556.42, down 129.88% from the previous year[2]. - Total operating revenue for the first three quarters of 2021 reached CNY 896,615,642.91, an increase of 29.6% compared to CNY 692,099,848.44 in the same period of 2020[21]. - Total operating costs for the first three quarters of 2021 were CNY 910,407,117.14, up from CNY 732,692,233.36 in 2020, reflecting a year-on-year increase of 24.3%[21]. - Operating profit for the first three quarters of 2021 was a loss of CNY 31,207,216.44, improving from a loss of CNY 40,628,043.32 in the same period of 2020[21]. - The total comprehensive income for Q3 2021 was a loss of ¥28.72 million, compared to a loss of ¥34.85 million in Q3 2020, indicating a year-over-year improvement[22]. - The basic and diluted earnings per share for Q3 2021 were both -¥0.11, an improvement from -¥0.16 in Q3 2020[22]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,422,316,891.85, an increase of 6.45% compared to the end of the previous year[2]. - Total liabilities as of September 30, 2021, were CNY 2,451,159,189.96, up from CNY 2,227,204,758.16 at the end of 2020, indicating a rise of 10.1%[19]. - Cash and cash equivalents decreased to CNY 281,294,437.29 from CNY 488,716,738.20 at the end of 2020, a decline of 42.5%[18]. - Accounts receivable increased to CNY 848,843,649.68 from CNY 749,116,382.87, marking a growth of 13.3%[18]. - Inventory rose to CNY 67,668,817.31, compared to CNY 44,559,748.82 at the end of 2020, reflecting a significant increase of 51.8%[18]. - Short-term borrowings slightly increased to CNY 233,005,867.74 from CNY 230,195,908.02, a marginal rise of 1.2%[19]. - The company reported no overdue loans during the reporting period, indicating a stable financial position[26]. Shareholder Information - The company reported a total of 15,302 common shareholders at the end of the reporting period[6]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 53.16% of the shares[6]. - The controlling shareholder's stake was diluted from 53.16% to 44.90%, representing a dilution of approximately 8.26%[13]. - The company’s major shareholders include Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holding 114,511,121 shares[7]. Government Support and Legal Matters - The company experienced a significant impact on its performance due to the resurgence of COVID-19 during the reporting period[4]. - Non-recurring gains and losses for the reporting period totaled CNY 10,126,171.30, with government subsidies contributing CNY 5,131,198.98[3]. - The company received government subsidies, with announcements made on multiple dates, including September 24, 2021[11]. - The company reported a significant legal matter involving a claim for damages amounting to 30.1 million yuan, with ongoing litigation[15]. Corporate Actions and Announcements - The company completed a non-public offering of shares, increasing its total share capital from 215,411,610 shares to 255,059,785 shares, with an addition of 39,648,175 shares[12]. - The company is in the process of establishing a holding subsidiary, as announced on September 25, 2021[11]. - The company has made changes to its business scope and completed the necessary registration updates as of August 24, 2021[10]. - The company held its third extraordinary general meeting of shareholders on August 6, 2021, to discuss important resolutions[9]. - The company has been actively involved in various announcements regarding board meetings and resolutions throughout 2021[8]. - The company has disclosed its half-year performance forecast on July 30, 2021, indicating ongoing financial assessments[8]. Cash Flow Analysis - The net cash flow from operating activities for the year-to-date was CNY 106,742,519.36[2]. - The net cash flow from operating activities for the first three quarters of 2021 was ¥106.74 million, a significant recovery from a negative cash flow of ¥6.38 million in the same period of 2020[24]. - The company reported a net cash outflow from investing activities of ¥251.04 million in the first three quarters of 2021, compared to a net outflow of ¥207.97 million in the same period of 2020[25]. - The net cash flow from financing activities in Q3 2021 was a negative ¥76.65 million, a decline from a positive cash flow of ¥403.87 million in the same period of 2020[25]. - The company recorded operating cash inflows of ¥963.76 million in the first three quarters of 2021, compared to ¥691.99 million in the same period of 2020, reflecting a growth of approximately 39.2%[24]. - The company incurred operating cash outflows totaling ¥857.02 million in the first three quarters of 2021, compared to ¥698.38 million in the same period of 2020, representing an increase of about 22.8%[24].

Financial Performance - The company reported a basic earnings per share of -0.08 yuan, an improvement from -0.52 yuan in the same period last year[18]. - The diluted earnings per share also stood at -0.08 yuan, compared to -0.52 yuan in the previous year[18]. - The weighted average return on net assets was -1.79%, an improvement from -11.12% year-on-year[18]. - The company's operating revenue for the first half of the year reached ¥604,588,108.25, an increase of 75.45% compared to ¥344,588,699.17 in the same period last year[20]. - The net profit attributable to shareholders of the listed company improved to -¥17,432,432.29 from -¥111,286,702.19 year-on-year, indicating a significant reduction in losses[20]. - The net cash flow from operating activities increased to ¥95,293,070.35, compared to a negative cash flow of -¥59,213,312.52 in the previous year[20]. - The company's earnings per share increased due to the rise in net profit attributable to shareholders[20]. - The company's net profit significantly reduced losses compared to the same period last year, indicating improved financial performance[33]. - The company's operating revenue for the current period reached ¥604,588,108.25, a 75.45% increase compared to ¥344,588,699.17 in the same period last year[36]. - Operating costs increased by 28.20%, amounting to ¥450,986,787.48, up from ¥351,773,504.23 year-on-year[36]. Revenue Sources - The company experienced an increase in revenue due to management fee income, marine polar park income, and various event revenues, contributing to overall growth compared to the previous year[18]. - In the first half of 2021, the company achieved operating revenue of 604.59 million yuan, with scenic area operation management accounting for approximately 70.81% of total revenue[28]. - During the 2021 Qingming Festival, the company welcomed 4.33 million tourists, generating a total tourism revenue of 2.018 billion yuan, recovering to 2019 levels[29]. - The company reported non-recurring gains and losses totaling ¥7,183,697.21, with government subsidies contributing ¥4,604,675.58[22]. - The company reported a significant contribution from the hotel and catering segment, generating 1,379,093.74 million in revenue, accounting for 0.24% of total revenue[80]. Market and Operational Strategies - The company is focusing on expanding its cultural tourism performance through various entertainment projects, including the "Dream Back to Tang Dynasty" performance and large-scale water dance shows[26]. - The company plans to enhance market promotion, strictly control costs, and seek favorable policy support to leverage the recovery of the tourism industry for high-quality development[29]. - The company completed over 200 marketing activities during the reporting period, focusing on the cultural connotations of the Tang Dynasty[34]. - The company is actively expanding its market share and increasing operating activities to boost revenue and brand effect[33]. - The company is focusing on the comprehensive operational management capabilities of historical and cultural theme scenic areas, enhancing customer experience and product competitiveness[31]. Financial Stability and Liabilities - The total assets at the end of the reporting period were ¥3,204,889,144.61, a slight decrease of 0.32% from ¥3,215,023,707.75 at the end of the previous year[20]. - Current liabilities totaled ¥1,189,953,527.99, representing 37.13% of total liabilities, with a minor increase of 0.31% from the previous year[39]. - The company's cash and cash equivalents decreased by 35.64% to ¥314,526,617.16 from ¥488,716,738.20 year-on-year[38]. - The total liabilities as of June 30, 2021, were CNY 1,740,689,577.20, down from CNY 1,807,666,452.14 at the end of 2020, reflecting a reduction of approximately 3.7%[125]. - The company has not reported any changes in share capital or significant shareholder changes during the reporting period[110][116]. Compliance and Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[4]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6]. - The company has not faced any violations in decision-making procedures regarding external guarantees[6]. - The company held three shareholder meetings during the reporting period, with all resolutions being legally valid[63]. - The company has maintained a good integrity status, with no significant debts or court judgments unfulfilled[78]. Environmental and Social Responsibility - The company strictly adheres to environmental protection laws and promotes green office practices, including the implementation of an automated office system and video conferencing[69]. - The company has successfully obtained certifications for ISO9001 quality management, ISO14001 environmental management, and GB/T 45001 occupational health and safety management systems[69]. - The company has not disclosed any environmental issues or received administrative penalties related to environmental problems during the reporting period[70]. Future Outlook and Strategic Planning - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[5]. - The company plans to enhance its management mechanisms and optimize business processes to improve quality and efficiency[35]. - The company is focused on improving the financial situation and sustainable profitability of the listed company through strategic planning[74]. - The company plans to acquire a 55% stake in Wuxi Huipao Sports Co., Ltd., which will become a subsidiary after the transaction is completed[76]. - The company is actively pursuing new strategies for market expansion and product development in the cultural tourism sector[84].

Financial Performance - The company's operating revenue for 2020 was CNY 1,076,794,038.84, a decrease of 17.50% compared to CNY 1,305,186,979.54 in 2019[15]. - The net profit attributable to shareholders for 2020 was a loss of CNY 71,863,269.23, a decline of 259.60% from a profit of CNY 45,026,654.39 in 2019[15]. - The net cash flow from operating activities was CNY 36,844,097.32, down 21.62% from CNY 47,006,105.03 in 2019[15]. - The total assets increased by 21.53% to CNY 3,215,023,707.75 at the end of 2020, compared to CNY 2,645,450,647.35 at the end of 2019[15]. - The net assets attributable to shareholders decreased by 7.15% to CNY 981,267,388.86 at the end of 2020, down from CNY 1,056,792,656.44 at the end of 2019[15]. - The basic earnings per share (EPS) for 2020 was -0.33 CNY, a decrease of 257.14% compared to 0.21 CNY in 2019[16]. - The diluted EPS for 2020 was also -0.33 CNY, reflecting the same percentage decrease as the basic EPS[16]. - The weighted average return on equity (ROE) dropped to -7.05% in 2020, a decrease of 11.37 percentage points from 4.32% in 2019[16]. - The company reported a total revenue of 384,694,190.40 CNY in Q4 2020, with a net profit attributable to shareholders of -37,177,267.00 CNY[18]. - The total revenue for the entire year was significantly affected, with Q1 revenue at 164,506,399.32 CNY and Q2 at 180,082,299.85 CNY[18]. Impact of COVID-19 - The net profit attributable to shareholders decreased significantly due to reduced main business income from tourism ticket sales impacted by the pandemic[16]. - The impact of COVID-19 led to a 52.1% decrease in domestic tourism numbers, totaling 2.879 billion visits in 2020, down from the previous year[30]. - Domestic tourism revenue fell by 61.1% to 2.23 trillion CNY, a decrease of 3.5 trillion CNY compared to the previous year[30]. - The company’s scenic areas were closed from January 24, 2020, and hotels and restaurants suspended operations from January 27, 2020, due to government pandemic measures[39]. - The company’s open scenic areas began reopening on February 21, 2020, with full operations resuming by May 30, 2020[39]. Business Operations and Strategy - The company operates several major cultural tourism sites, including the "Giant Wild Goose Pagoda" and "Daming Palace National Heritage Park," contributing to its diverse business model[26]. - The company has developed a comprehensive product system for tourism services, including inbound, outbound, and domestic tourism, as well as customized travel options[27]. - The company is focused on expanding its cultural tourism performance through various themed performances and events, enhancing its market presence[27]. - The company plans to expand its market reach and revenue through the commercialization of cultural tourism products and brand marketing strategies[34]. - The company aims to optimize its industry layout and accelerate the integration of culture and tourism, tapping into new consumption growth points for high-quality development[64]. Financial Management and Investments - The company implemented rent reductions for over 200 tenants, amounting to approximately 13.48 million, to support non-state-owned enterprises and individual businesses during the pandemic[48]. - The company plans to invest approximately 155 million RMB in projects including acquiring 55% of Wuxi Huipao Sports Co., Ltd.[82]. - The company will focus on expanding its market share in scenic area management and intellectual services, targeting cultural heritage and leisure products[82]. - The company aims to enhance the integration of technology and tourism, increasing the fusion of internet and tourism products[82]. Related Party Transactions and Governance - The company has committed to avoiding any form of competition with its listed business after becoming the controlling shareholder, ensuring no direct or indirect engagement in similar businesses[94]. - The commitment to avoid or reduce related party transactions has been reiterated, with agreements to ensure fair pricing and compliance with legal disclosure obligations[94]. - The company has disclosed its daily related party transactions for the 2020 fiscal year, which were approved at the 2019 annual general meeting[113]. - The total amount of related party transactions reached CNY 14,676,088.77, accounting for 1.45% of similar transactions[114]. Employee and Community Engagement - The company has implemented comprehensive employee welfare programs, including paid training and various social security benefits[155]. - The company has actively participated in pandemic prevention efforts, including establishing a leadership group and providing support to frontline healthcare workers[151]. - The company has engaged in significant related party transactions, reflecting its integrated business model within the cultural and tourism sectors[116]. - The company has organized various public welfare activities, totaling over 40 events throughout the year, to support healthcare workers and vulnerable groups[153]. Environmental and Regulatory Compliance - The company has successfully completed environmental impact registrations for several projects, including the Night Tour Water Dance Show and the Upgrade of the Royal Banquet Palace[159]. - The company has implemented ISO9001, ISO14001, and GB/45001 management system certifications to enhance environmental awareness among employees[158]. - The company promotes a green office concept, emphasizing resource conservation and low-carbon operations[158]. - The company has not disclosed any reasons for not providing environmental information for non-key pollutant units[159]. Future Outlook - The company anticipates a recovery in domestic tourism in 2021, projecting 4.1 billion domestic tourists and CNY 3.3 trillion in revenue, representing growth of 42% and 48% respectively compared to 2020[62]. - The company is committed to enhancing its core competitiveness and expanding its market presence in response to the evolving tourism landscape[77]. - The company is focused on optimizing and enhancing project designs based on market demand, indicating a proactive approach to business development[117].

Financial Performance - The company's operating revenue for Q1 2021 increased by 59.31% year-on-year, reaching RMB 262,071,348.92[5] - The net profit attributable to shareholders of the listed company was RMB -20,235,016.17, showing an improvement compared to RMB -67,922,652.26 in the same period last year[6] - The company reported a basic earnings per share of RMB -0.09, an improvement from RMB -0.32 in the same period last year[6] - Operating profit improved significantly, with a loss of ¥24,391,727.51 in Q1 2021 compared to a loss of ¥80,333,948.60 in Q1 2020, reflecting a positive trend in revenue recovery[15] - Net loss for Q1 2021 was ¥22,273,481.85, an improvement of ¥46,066,577.68 from a net loss of ¥68,340,059.53 in Q1 2020[16] - The company expects a significant reduction in net losses for the year compared to the same period last year, driven by the recovery of the tourism market[28] Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly, amounting to RMB -77,528,324.33, compared to RMB -24,736,274.45 in the previous year[6] - Cash flow from operating activities totaled ¥307,683,960.76, a 35.80% increase from ¥226,565,023.86 in the same period last year, driven by increased revenue[16] - The company experienced a net decrease in cash and cash equivalents of -193,556,996.46, attributed to reduced bank loan receipts and increased costs[18] - The ending cash and cash equivalents balance was ¥288,664,751.24, a 132.82% increase compared to the previous period, also driven by increased financing activities[18] - The company reported cash and cash equivalents at the end of Q1 2021 amounting to ¥288,664,751.24, up from ¥123,985,730.17 at the end of Q1 2020[38] - The company reported a net cash flow from investment activities of -109,503,297.54, a decrease of 124,510,441.73 compared to the previous period, primarily due to reduced payments for project costs[18] Assets and Liabilities - Total assets at the end of the reporting period were RMB 3,125,001,925.85, a decrease of 2.80% from the previous year[10] - The net assets attributable to shareholders decreased by 2.06% to RMB 961,032,372.69 compared to the end of the previous year[10] - The company's total liabilities decreased from CNY 2.23 billion at the end of 2020 to CNY 2.16 billion as of March 31, 2021, a decline of about 3%[32] - The company's total assets decreased from CNY 3.22 billion at the end of 2020 to CNY 3.13 billion as of March 31, 2021, a reduction of approximately 2.8%[32] Shareholder Information - The number of shareholders at the end of the reporting period was 15,708, with the largest shareholder holding 53.16% of the shares[8] - The company held its first temporary shareholders' meeting of 2021 on February 2, 2021, to discuss key resolutions[18] Financing Activities - Short-term borrowings rose by 239.14% to ¥241,825,000.05, mainly due to increased financing scale[12] - Long-term borrowings increased by 42.93% to ¥1,016,500,000.00, reflecting a significant rise in financing activities[12] - Financial expenses increased by 69.75% to ¥13,858,478.06, attributed to an increase in financing scale[15] - The company announced a significant reduction in cash outflows for debt repayment, which decreased by 90.49% to 2,500,000.00[18] Operational Adjustments - The company completed the registration of changes in its business scope on February 20, 2021, reflecting ongoing operational adjustments[18] - The company plans to acquire a 55% stake in Wuxi Huipao Sports Co., Ltd. through capital increase and equity transfer, indicating a strategic move for market expansion[22] Compliance and Regulations - The company is not classified as a key pollutant discharge unit by environmental protection authorities, indicating compliance with environmental regulations[39] - The company has not faced any administrative penalties or investigations related to cultural heritage protection laws during the reporting period[27]

Financial Performance - The company reported a net profit of -60,116,955.70 yuan for the year 2020, resulting in a distributable profit of -16,143,440.89 yuan as of December 31, 2020[3]. - The board of directors proposed no profit distribution for 2020 due to the negative retained earnings[3]. - The company's operating revenue for 2020 was approximately ¥1.08 billion, a decrease of 17.50% compared to ¥1.31 billion in 2019[19]. - The net profit attributable to shareholders was a loss of approximately ¥71.86 million, a decline of 259.60% from a profit of ¥45.03 million in 2019[19]. - The basic earnings per share for 2020 was -¥0.33, down 257.14% from ¥0.21 in 2019[20]. - The total assets increased by 21.53% to approximately ¥3.22 billion at the end of 2020, compared to ¥2.65 billion at the end of 2019[19]. - The cash flow from operating activities was approximately ¥36.84 million, a decrease of 21.62% from ¥47.01 million in 2019[19]. - The weighted average return on equity decreased by 11.37 percentage points to -7.05% in 2020 from 4.32% in 2019[20]. - The company reported a total of ¥69.54 million in non-recurring gains and losses for 2020, compared to ¥15.44 million in 2019[26]. - The company achieved a total revenue of 1,076.79 million yuan in 2020, with the scenic area operation management business accounting for approximately 70.40% of total revenue[31]. Impact of COVID-19 - The company experienced a significant decline in ticket sales revenue due to the impact of the pandemic, affecting overall business performance[21]. - The domestic tourism market saw a significant decline, with 2.879 billion domestic tourists in 2020, a decrease of 52.1% compared to the previous year[32]. - Domestic tourism revenue fell to 2.23 trillion yuan, down 61.1% year-on-year, due to the impact of the COVID-19 pandemic[32]. - The tourism service (travel agency) segment saw a significant revenue drop of 79.61%, attributed to the impact of the COVID-19 pandemic[53]. - The company faced significant impacts on its main business due to ongoing COVID-19 pandemic restrictions[89]. - The company has implemented a rent reduction policy for over 200 tenants, amounting to approximately 13.48 million yuan, to support non-state enterprises and individual businesses during the pandemic[173]. Strategic Initiatives - The company plans to optimize its industrial layout and accelerate the integration of culture and tourism to capture new growth opportunities[72]. - The company aims to leverage new market opportunities and enhance high-quality development in the tourism sector[72]. - The company is focusing on expanding its historical and cultural tourism offerings, with a particular emphasis on the Tang Dynasty culture and related resources[36]. - The company has established a smart tourism platform, including property management and ticketing systems, to enhance overall tourism services[43]. - The company is focusing on enhancing its "Tang+" brand strategy, which aims to develop new retail opportunities[90]. - The company is expanding its market presence by opening two new cultural tourism sites in 2021, projected to increase overall visitor capacity by 40%[196]. Governance and Compliance - The company received a standard unqualified audit opinion from Sigma Accounting Firm[6]. - The company has committed to avoiding any business that competes with its listed company, ensuring no direct or indirect competition[101]. - The company has made commitments to ensure that its executives will not misuse company assets for personal investments unrelated to their duties[103]. - The company has not reported any instances of funds being occupied or any progress on debt recovery during the reporting period[105]. - The company has maintained compliance with regulations, ensuring the protection of shareholders' rights and preventing insider trading incidents[167]. Employee and Social Responsibility - The company has actively engaged in social responsibility initiatives, including donations and support for frontline medical workers during the COVID-19 pandemic[169]. - The company has assisted 171 registered poverty alleviation households, with 591 individuals, of which 345 are capable of work and 212 have achieved stable employment[165]. - The company emphasizes employee training through a combination of internal and external programs to enhance professional skills and personal qualities[174]. - The company has organized various job fairs and provided transportation subsidies to facilitate employment for impoverished laborers[165]. Future Outlook - The forecast for 2021 anticipates a recovery with domestic tourism expected to reach 4.1 billion visitors and revenue of 3.3 trillion yuan, representing growth of 42% and 48% respectively compared to 2020[69]. - For 2021, the company expects to achieve revenue of approximately 1,350 million yuan and control costs around 980 million yuan[91]. - The company has set a future outlook with a revenue target of 1.5 billion RMB for 2021, indicating a growth expectation of 25%[196]. - The company plans to enhance its market share by focusing on scenic area management and cultural heritage tourism[90].