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].

Financial Performance - Net profit attributable to shareholders decreased by 133.83% to a loss of CNY 34,686,002.23 compared to the same period last year[6]. - Operating revenue decreased by 29.99% to CNY 692,099,848.44 compared to the same period last year[5]. - Basic earnings per share decreased by 133.33% to CNY -0.16 compared to the same period last year[5]. - The weighted average return on equity decreased by 12.89 percentage points to -3.34% compared to the same period last year[5]. - Operating profit decreased by 135.15% to a loss of ¥40,628,043.32, significantly impacted by reduced ticket sales due to the pandemic[16]. - Total profit amounted to a loss of ¥42,418,926.69, reflecting a 135.39% decline driven by decreased ticket revenue[16]. - Net profit fell to a loss of ¥34,853,107.22, a 133.93% decrease attributed to the pandemic's impact on ticket sales[16]. - The company anticipates a cumulative net profit loss for the year due to the impact of COVID-19, with significant operational disruptions from January 2020[25]. Assets and Liabilities - Total assets increased by 15.22% to CNY 3,048,157,738.23 compared to the end of the previous year[5]. - The equity attributable to the parent company decreased to CNY 1,018.44 million, a decline of CNY 100.61 million or 8.99% year-on-year[13]. - Total liabilities amounted to CNY 2,026.56 million, an increase of CNY 606.73 million or 42.73% compared to the previous year[15]. - The total liabilities of the company reached RMB 2,026,558,302.18, compared to RMB 1,586,806,105.73 at the end of 2019, marking an increase of about 27.8%[30]. - The company’s total equity decreased to CNY 1,171,395,611.99 from CNY 1,200,877,264.80 at the end of 2019, a decrease of approximately 2.45%[32]. Cash Flow - Net cash flow from operating activities decreased by 112.80% to a negative CNY 6,384,581.93 compared to the same period last year[5]. - Cash inflow from operating activities decreased by 40.89% to ¥691,999,531.46, mainly due to reduced sales receipts[16]. - Cash received from sales and services declined by 43.51% to ¥603,034,213.48, significantly affected by the pandemic[16]. - The company's cash flow from operating activities decreased by 37.69% to CNY 698,384,113.39 compared to the previous year, primarily due to reduced costs impacted by the pandemic[17]. - The company reported a total cash inflow from financing activities of CNY 741,470,000.00, significantly up from CNY 200,458,408.83 in the same period last year[37]. - The total cash and cash equivalents at the end of the period reached CNY 339,280,454.50, up from CNY 215,998,241.98 at the end of the same period last year[37]. Shareholder Information - The total number of shareholders reached 14,104 at the end of the reporting period[10]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 53.16% of the shares[10]. Operational Impact - The company experienced a significant decline in ticket revenue due to the impact of the pandemic[6]. - The company has resumed operations for its managed scenic spots and hotels, with gradual recovery in tourism activities starting from March 2020[26]. - The company is actively applying for special funds to support tourism development in response to the pandemic[26]. Revenue and Cost Management - Total revenue for Q3 2020 was CNY 347,511,149.27, a slight increase from CNY 338,625,144.83 in Q3 2019, representing a growth of approximately 0.26%[33]. - Total operating costs for Q3 2020 decreased to CNY 260,194,163.42 from CNY 297,828,968.67 in Q3 2019, a reduction of about 12.67%[33]. - The gross profit margin improved to 57.1% in Q3 2020 compared to 51.6% in Q3 2019, indicating better cost management[36]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to enhance revenue growth[33]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[34].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 344.59 million, a decrease of 46.98% compared to CNY 649.94 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 111.29 million, a decline of 271.13% from a profit of CNY 65.03 million in the previous year[18]. - The net cash flow from operating activities was a negative CNY 59.21 million, compared to a negative CNY 29.95 million in the same period last year[18]. - The basic earnings per share for the first half of 2020 was -CNY 0.52, a decrease of 273.33% compared to CNY 0.30 in the same period last year[19]. - The weighted average return on net assets was -11.12%, a decrease of 17.27 percentage points from 6.15% in the previous year[19]. - The decline in revenue was primarily due to the impact of the pandemic, which affected ticket sales and travel agency income[18]. - The net profit attributable to shareholders decreased compared to the same period last year, primarily due to a reduction in ticket revenue from scenic spots caused by the pandemic[20]. - The net cash flow from operating activities decreased compared to the same period last year, mainly due to a decrease in sales collections[20]. - Earnings per share decreased compared to the same period last year, primarily due to the decline in net profit attributable to shareholders[20]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3.02 billion, an increase of 14.18% from CNY 2.65 billion at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 10.88% to CNY 941.84 million from CNY 1.06 billion at the end of the previous year[18]. - Total liabilities rose by 62.59% to CNY 2,075,850,145.72, primarily due to increased financing[42]. - The company's long-term borrowings surged by 172.21% to CNY 1,054,000,000.00 from CNY 387,200,000.00 year-on-year[42]. - The total restricted assets amount to CNY 713,714,977.62, primarily due to bank acceptance bill guarantees and mortgage loans[44]. Operational Strategies and Market Conditions - The company plans to accelerate the integration of "cultural tourism +" to explore new consumption growth points and promote industrial upgrades[28]. - The hotel industry saw over 90% of its stores resume operations, with occupancy rates reaching around 60% by mid-April[27]. - The company is leveraging policy support to accelerate recovery and development in the cultural tourism sector[28]. - The government has introduced initiatives to boost the cultural tourism industry, enhancing market consumption vitality[28]. - The company acknowledges potential impacts on its main business from sudden public health events that could harm public health[55]. - The company has adjusted its operational strategies in response to the pandemic, focusing on project construction and cost control[53]. Investment and Renovation Projects - The company has successfully completed the renovation of the Xi'an Tanghua Huayi Hotel and the御宴宫 restaurant project, enhancing its service offerings[35]. - The total investment for the Tanghua Hotel renovation project increased from approximately 280 million to about 470 million RMB, reflecting a significant investment adjustment[73]. - The total investment for the Yuyan Palace renovation project is approximately 120 million RMB, with a tentative total construction fee of 4.53 million RMB[75]. - The Yuyan Palace renovation project was completed during the reporting period, with total construction fees incurred amounting to 4,273,584.91 RMB (excluding tax)[75]. Government Support and Subsidies - The company is actively applying for government subsidies to mitigate the impact of the pandemic on its operations[36]. - The company received government subsidies, which are expected to support its financial performance[100]. Related Party Transactions - The company reported a total of 272,991.68 CNY in related party transactions, accounting for 3.81% of total transactions[68]. - The total amount from related party transactions with Xi'an Qujiang Cultural Group and its subsidiaries was 4,502,634.12 CNY, accounting for 1.40% of total transactions[69]. - The company engaged in various agreements with related parties, with the majority following market pricing methods[68]. Legal and Compliance Matters - There were no significant lawsuits or arbitration matters during the reporting period[66]. - The company has maintained a good integrity status, with no major debts or court judgments unfulfilled[66]. - The company has engaged a professional legal team to actively respond to the ongoing litigation and protect its interests[106]. - The company has disclosed all relevant information regarding the legal disputes in its annual report[104]. Accounting Policies and Changes - The company has changed its accounting policies in response to the Ministry of Finance's new revenue standards, effective from January 1, 2020[85]. - The new revenue recognition standard shifts the focus from risk and reward transfer to control transfer, impacting how revenue is recognized[87]. - The company is committed to complying with the revised accounting standards to ensure accurate financial reporting and transparency[86]. Social Responsibility and Community Engagement - The company is actively involved in poverty alleviation efforts in 东明村, focusing on "beautiful countryside" construction and enhancing the ideological awareness of local party members[79]. - During the pandemic, the company assigned management personnel to assist in COVID-19 prevention efforts in the village[79]. - The company plans to continue supporting poverty alleviation through industrial development and fulfilling corporate social responsibility[81].

Financial Performance - The company reported a net profit of 39,370,524.02 yuan for the year 2019, after deducting a statutory surplus reserve of 3,937,052.40 yuan[2]. - The total undistributed profits at the end of 2019 amounted to 47,635,513.16 yuan, with a distributable profit of 35,433,471.62 yuan for the year[2]. - The company's operating revenue for 2019 was approximately ¥1.305 billion, a decrease of 2.95% compared to ¥1.344 billion in 2018[18]. - Net profit attributable to shareholders was approximately ¥45 million, down 40.83% from ¥76 million in 2018[18]. - Basic earnings per share decreased by 40% to ¥0.21 from ¥0.35 in 2018[19]. - The weighted average return on equity decreased by 3.39 percentage points to 4.32% from 7.71% in 2018[19]. - The net cash flow from operating activities decreased by 68.15% to approximately ¥47 million from ¥148 million in 2018[18]. - The company's comprehensive gross profit margin was 26.22%, a decrease of 0.90 percentage points year-on-year, mainly due to the decline in the gross profit margin of the hotel and catering sector[50]. - The net profit for the fourth quarter was negative at approximately -¥57 million, indicating a significant decline in performance[21]. - The company attributed the decrease in net profit to project suspensions and increased operational costs[20]. Dividend Distribution - The company plans to distribute a cash dividend of 0.17 yuan per 10 shares, totaling 3,661,997.37 yuan (including tax) based on a total share capital of 215,411,610 shares[2]. - The company has not proposed any stock dividends or capital reserves conversion for the year 2019[2]. - The cash dividend distribution for 2019 represents 8.13% of the net profit attributable to ordinary shareholders, which was CNY 45,026,654.39[82]. - In 2018, the cash dividend was CNY 0.45 per 10 shares, totaling CNY 8,077,938.32, which was 10.62% of the net profit[82]. Assets and Liabilities - Total assets increased by 22.59% to approximately ¥2.645 billion from ¥2.158 billion in 2018[18]. - The company's total assets reached CNY 2,645.45 million as of December 31, 2019, an increase of CNY 487.57 million or 22.59% compared to the previous year, primarily due to the increase in fixed assets and construction in progress[47]. - The asset-liability ratio increased to 59.98%, up 7.48 percentage points year-on-year, indicating a higher level of financial leverage[47]. - Total liabilities increased by 40.07% to CNY 1,586,806,105.73, driven by a rise in both short-term and long-term borrowings[59]. - Short-term borrowings increased by 44.08% to CNY 71,896,464.11, reflecting a larger financing scale[58]. - Long-term borrowings rose by 47.20% to CNY 568,209,334.29, indicating increased borrowing activity[59]. Risk Management - The company has outlined potential risks in its future development, which are detailed in the discussion and analysis section of the report[5]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[5]. - The tourism industry is expected to face risks from seasonal factors, public health events, and changes in national policies[76]. Operational Highlights - The company achieved a total revenue of 1,305.19 million CNY in 2019, with the scenic area operation management contributing approximately 65.60% of the total revenue[33]. - The hotel and catering business accounted for 14.64% of the total revenue, while tourism product sales contributed 1.03% and tourism services (travel agency) made up 16.27%[33]. - The company successfully opened the Ocean Polar Park underwater restaurant on June 21, 2019, enhancing the product system of the Ocean Polar Park[46]. - The company launched over 100 cultural events during the reporting period, including the Tang Dynasty Huazhuang performance and various seasonal festivals, contributing to local tourism[46]. - The company expanded its product offerings with the launch of 16 "Tang+" smart convenience stores and several cultural retail shops in major scenic areas[46]. Market and Tourism Insights - In 2019, domestic tourists reached 6.01 billion, representing a year-on-year growth of 8.4%, and domestic tourism revenue was 57,251 million CNY, up 11.7%[34]. - The company operates several 5A and 4A scenic spots, including the "Giant Wild Goose Pagoda" and "Xi'an City Wall," enhancing its cultural tourism offerings[31]. - The company holds a unique competitive advantage due to its access to rare historical and cultural resources, particularly in Shaanxi and Xi'an, which enhances its tourism development potential[42]. - The tourism industry is expected to recover and grow post-COVID-19, with new market demands and business models emerging[34]. Corporate Governance - The audit report issued by Sigma Accounting Firm confirmed the accuracy and completeness of the financial statements[2]. - The company’s board of directors and senior management have confirmed the authenticity and completeness of the annual report[2]. - The company has committed to avoiding competition with its subsidiaries and ensuring fair pricing in related transactions[85]. - The company plans to maintain independence in assets, personnel, finance, and operations as part of its commitments[85]. Accounting Policies and Changes - The company has made changes to its accounting policies and estimates, which are applicable and have been disclosed in detail[86]. - The financial statement format has been adjusted according to the Ministry of Finance's notification, effective from April 30, 2019, without impacting the company's financial status or cash flow[89]. - The new revenue recognition standard will be implemented starting January 1, 2020, aligning with the Ministry of Finance's requirements, and is expected to provide a more accurate reflection of the company's financial performance[92]. - The adjustments in financial reporting include the separation of "receivables" into "notes receivable" and "accounts receivable," and similar changes for payables, enhancing clarity in financial statements[89]. Social Responsibility - The company has actively participated in poverty alleviation efforts, providing employment opportunities for 5 local villagers in the scenic area[136]. - The company has organized over 10 charitable activities, including donations of books and essential goods worth over 20,000 yuan to impoverished communities[137]. - The company is committed to fulfilling its corporate social responsibility while ensuring steady growth and shareholder returns[138]. Employee Management - The total number of employees in the parent company is 1,505, while the total number of employees in major subsidiaries is 3,205, resulting in a combined total of 4,710 employees[180]. - The company has implemented a competitive and incentive-based salary policy, which includes basic salary, performance salary, and statutory items[184]. - The company plans to enhance training for various levels of employees, focusing on management capabilities and modern operational awareness[185]. Related Party Transactions - The total amount of related party transactions reached CNY 147,570,512.39, with various categories including hotel catering and tourism services[102]. - The company has established agreements for pricing based on market pricing methods for all related transactions, ensuring compliance with market standards[99]. - The company’s related party transactions accounted for a small percentage of total revenues, maintaining a balanced approach to related party dealings[102].