Financial Performance - Operating revenue for the first quarter was RMB 164,506,399.32, a decrease of 48.15% year-on-year, primarily due to reduced ticket and travel agency income impacted by the pandemic[5] - Net profit attributable to shareholders was a loss of RMB 67,922,652.26, representing a decrease of 321.75% compared to the same period last year[5] - Basic and diluted earnings per share were both -0.32 RMB, a decline of 328.57% year-on-year[5] - Total operating revenue for Q1 2020 was CNY 164,506,399, down CNY 152,766,086, or 48.15% year-over-year, primarily due to the impact of the pandemic on ticket and travel agency revenues[14] - The company reported a net loss of CNY 68,340,060 for Q1 2020, a decrease of CNY 98,462,238, or 326.88% compared to a profit in the same period last year[14] - The net loss for Q1 2020 was ¥68,340,059.53, compared to a net profit of ¥30,122,178.91 in Q1 2019, indicating a significant decline in profitability[32] - The operating profit for Q1 2020 was a loss of ¥65,620,483.72, compared to a profit of ¥29,651,090.94 in Q1 2019[33] Cash Flow - The net cash flow from operating activities improved, with a net outflow of RMB 24,736,274.45, compared to a net outflow of RMB 38,511,154.35 in the same period last year[6] - The company’s cash flow statement showed significant changes, indicating potential liquidity challenges[15] - Cash outflow from operating activities totaled approximately $226.6 million in Q1 2020, a decrease of 37.56% compared to $362.8 million in Q1 2019, mainly due to lower costs associated with the pandemic[16] - The cash flow from operating activities showed a net outflow of ¥24,736,274.45 in Q1 2020, an improvement from a net outflow of ¥38,511,154.35 in Q1 2019[34] - The net cash flow from operating activities was approximately -$24.7 million in Q1 2020, an improvement of 35.8% compared to -$38.5 million in Q1 2019[16] - The cash and cash equivalents at the end of Q1 2020 were CNY 40,068,920.38, down from CNY 157,193,238.38 at the end of Q1 2019[35] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 2,667,960,011.09, an increase of 0.85% compared to the end of the previous year[5] - As of March 31, 2020, the company's total assets amounted to approximately CNY 2.67 billion, a slight increase from CNY 2.65 billion at the end of 2019[27] - The company's total liabilities as of March 31, 2020, were approximately CNY 1.68 billion, compared to CNY 1.59 billion at the end of 2019, representing an increase of about 5.4%[28] - The company's total equity decreased to approximately CNY 990.30 million from CNY 1.06 billion, reflecting a decline of about 6.5%[28] - The company's accounts receivable increased to approximately CNY 568.49 million, up from CNY 555.41 million, indicating a rise of about 2.4%[27] Shareholder Information - The company had a total of 15,864 shareholders at the end of the reporting period[9] - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., held 53.16% of the shares, totaling 114,511,121 shares[9] Government Support and Future Plans - Non-recurring gains and losses amounted to RMB 1,494,677.86, with government subsidies contributing RMB 260,073.99[7] - The company plans to focus on recovery strategies post-pandemic, including potential market expansion and new product development[14] - The company plans to actively apply for special funds to support the development of tourism enterprises in response to the pandemic[24] - The company announced plans to gradually resume operations following the pandemic, indicating a focus on recovery strategies[18] Financial Ratios and Metrics - The weighted average return on net assets decreased by 9.59 percentage points to -6.64%[5] - Financial expenses increased by CNY 2,906,176, or 55.27%, due to a larger borrowing scale compared to the same period last year[14] - The company's cash and cash equivalents decreased to approximately CNY 140.23 million from CNY 190.70 million at the end of 2019, reflecting a decline of about 26.4%[27]

Financial Performance - The company reported a net profit of RMB 39,370,524.02 for the year 2019, after deducting a statutory surplus reserve of RMB 3,937,052.40[3]. - The total undistributed profits at the end of 2019 amounted to RMB 47,635,513.16, reflecting an increase from the previous year[3]. - The proposed cash dividend is RMB 0.17 per 10 shares, totaling RMB 3,661,997.37 to be distributed to shareholders[3]. - The company’s total share capital as of December 31, 2019, was 215,411,610 shares[3]. - The company's operating revenue for 2019 was approximately ¥1.305 billion, a decrease of 2.95% compared to ¥1.345 billion in 2018[19]. - Net profit attributable to shareholders decreased by 40.83% to approximately ¥45 million from ¥76 million in the previous year[19]. - The net cash flow from operating activities fell by 68.15% to approximately ¥47 million, down from ¥148 million in 2018[19][21]. - Basic earnings per share decreased by 40% to ¥0.21 from ¥0.35 in 2018[20]. - The total assets increased by 22.59% to approximately ¥2.645 billion compared to ¥2.158 billion at the end of 2018[19]. - The weighted average return on equity decreased by 3.39 percentage points to 4.32% from 7.71% in 2018[20]. - The company experienced a significant decline in net profit due to project delays and increased operational costs related to various hotel and tourism projects[22]. - The total share capital increased from 179,509,675 shares to 215,411,610 shares following a stock dividend distribution in July 2019[22]. - Non-recurring gains and losses amounted to approximately ¥15.44 million, a decrease from ¥22.10 million in 2018[27]. - The company reported a quarterly net profit loss of approximately ¥57.5 million in Q4 2019, contrasting with positive profits in the first three quarters[24]. Revenue Sources - The company achieved a total revenue of 1,305.187 million yuan in 2019, with the scenic area operation management business accounting for approximately 65.60% of total revenue[32]. - Hotel and catering business contributed 14.64% to total revenue, while tourism product sales accounted for 1.03%, and tourism services (travel agency) made up 16.27%[33]. - The company operates several 5A and 4A level scenic spots, including the "Giant Wild Goose Pagoda" and "Daming Palace National Heritage Park" among others[30]. - The company has developed a comprehensive product system that includes inbound and outbound tourism, domestic tourism, and various tourism services[31]. - The company’s cultural tourism performance includes various high-value cultural performances, enhancing the overall tourist experience[31]. - The company’s total assets reached CNY 2,645.45 million, 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 projects[41]. - The company reported a total revenue of 1.2 billion RMB for the year 2019, representing a year-on-year increase of 15%[185]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[5]. - The report includes a detailed description of potential risks faced by the company, which investors should be aware of[6]. - The company anticipates risks related to seasonal factors affecting tourism, public health emergencies, and policy changes impacting its operations[82]. Audit and Compliance - The company has received a standard unqualified audit report from Sigma Accounting Firm[7]. - The financial report is guaranteed to be true, accurate, and complete by the company's management[7]. - The independent directors confirmed that the profit distribution and capital reserve conversion plan complied with relevant laws and regulations[86]. - The company has not reported any significant issues regarding the occupation of funds or overdue receivables during the reporting period[91]. - The company has not encountered any non-standard audit opinions from its accounting firm[91]. Shareholder Information - The company’s cash dividend policy is designed to provide reasonable returns to shareholders while considering business development needs[87]. - The company did not repurchase shares as part of its cash dividend strategy during the reporting period[89]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 53.16% of the shares, totaling 114,511,121 shares[174]. - The second-largest shareholder, Zhou Yuguang, holds 4.66% of the shares, totaling 10,027,493 shares[175]. - The company has a total of 1,029,600 shares held by Beijing Tong San Yi Health Food Co., Ltd. that are subject to trading restrictions[177]. - The company has 720,000 shares held by Shanghai Hongkai Sheng Container Co., Ltd. that are also subject to trading restrictions[177]. Strategic Initiatives - The company plans to leverage policy support to accelerate recovery and development in the cultural tourism sector, introducing the new brand "Ancient Capital of a Thousand Years" to stimulate growth[66]. - The company aims to explore new consumption growth points through continuous innovation and integration of "cultural tourism+" strategies[66]. - The company is focusing on product innovation, including the development of marine parks and cultural creative spaces[80]. - The company is committed to expanding its market presence and enhancing core competitiveness through a "going out" strategy[78]. - The company plans to invest approximately 123 million in the renovation of the Datang Furong Garden Fanglin Garden Hotel[80]. - The company aims to maintain a steady growth trajectory by optimizing its service portfolio and expanding its market reach[112]. Community Engagement and Social Responsibility - The company has actively engaged in social responsibility activities, including multiple visits to assist impoverished villages and promote poverty alleviation policies[153]. - The company has implemented targeted poverty alleviation measures, focusing on industrial and employment support, helping improve living conditions for special families[152]. - In 2019, the company donated over 30 sets of books, 62 sets of rice, flour, and oil, and more than 20,000 yuan in cash to impoverished communities[156]. - The company has actively explored new models for poverty alleviation, leveraging local cultural resources to enhance community economic development[149]. Employee Management - The company has established a comprehensive employee management system, ensuring all employees are covered by social security and receive regular health check-ups[155]. - The company has implemented a competitive and performance-based compensation policy for employees, which includes basic salary, performance pay, and statutory contributions[194]. - The company has established a training program focusing on various levels of employees, including specialized training for financial and human resources personnel[196][197]. - The total number of employees in the parent company is 1,505, while the total number of employees in the parent company and major subsidiaries is 4,710[193]. Future Outlook - The company aims to achieve revenue of approximately 1.1 billion and control costs around 780 million for 2020[81]. - The company plans to expand its market presence by opening three new cultural tourism sites in 2020, targeting a 30% increase in regional market share[188]. - Future outlook remains positive, with management emphasizing a focus on sustainable tourism practices and community engagement initiatives[187].

Financial Performance - The net profit attributable to shareholders was RMB 102,534,510.60, a decrease of 9.59% compared to the same period last year[5]. - The basic earnings per share (EPS) was RMB 0.48, down 9.43% from RMB 0.53 in the previous year[5]. - The weighted average return on equity (ROE) decreased by 1.73 percentage points to 9.55%[5]. - The net profit after deducting non-recurring gains and losses was RMB 94,439,730.61, a decrease of 14.27% compared to the previous year[5]. - Total operating revenue for Q3 2019 was approximately ¥338.63 million, a decrease of 5.86% compared to ¥359.83 million in Q3 2018[26]. - Net profit for Q3 2019 was approximately ¥37.23 million, a decline of 13.92% from ¥43.22 million in Q3 2018[27]. - Total profit for the first three quarters of 2019 was approximately ¥119.85 million, down 10.19% from ¥133.44 million in the same period of 2018[27]. - Net profit for the first three quarters of 2019 was ¥86,663,743.68, up 9.3% from ¥79,185,678.99 in the first three quarters of 2018[28]. Cash Flow - The net cash flow from operating activities decreased by 35.38% compared to the same period last year, primarily due to increased payments for ticket collections and revenue sharing agreements[5]. - Cash flow from operating activities for the first three quarters of 2019 was ¥49,875,639.66, a decrease of 35.2% compared to ¥77,178,642.48 in the same period of 2018[29]. - Net cash flow from operating activities decreased to CNY 22,473,302.38, down 78.0% from CNY 102,443,502.52 in the previous year[30]. - Cash inflow from investment activities increased significantly to CNY 182,857,748.68, compared to CNY 80,670,224.74 in the same period last year[30]. - Cash inflow from financing activities rose to CNY 170,558,408.83, up from CNY 140,000,000.00 in the previous year[30]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 2,539,849,880.67, reflecting a 17.70% increase from the previous year-end[5]. - The company's total assets amounted to approximately CNY 2.54 billion, an increase from CNY 2.16 billion at the end of 2018[22]. - Total liabilities increased to CNY 1,419,828,059.45, up from CNY 1,132,851,593.94, representing a growth of approximately 25.3% year-over-year[23]. - Current liabilities totaled CNY 941,366,384.69, compared to CNY 732,389,546.92, reflecting an increase of about 28.5%[23]. - The company's total liabilities amounted to CNY 1,132,851,593.94, with current liabilities at CNY 732,389,546.92[32]. Shareholder Information - The total number of shareholders reached 15,504 at the end of the reporting period[9]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., held 53.16% of the shares, with 55,305,720 shares pledged[9]. - The company plans to distribute a cash dividend of CNY 0.045 per share, totaling approximately CNY 8.08 million, alongside a capital increase of 0.2 shares per share for all shareholders[17]. - The company has announced a shareholder return plan for the next three years (2019-2021), although specific details were not provided[12]. Investments and Growth - The company completed a capital increase through profit distribution and capital reserve conversion, raising the total share capital from 179,509,675 shares to 215,411,610 shares[6]. - The company plans to conduct a non-public offering of A-shares to raise funds, as detailed in their announcements[15]. - The company plans to explore new market opportunities and potential acquisitions to drive future growth[27]. Operational Efficiency - The management indicated a focus on cost control and efficiency improvements to enhance profitability in the upcoming quarters[27]. - The company reported a significant increase in prepayments, which rose by CNY 24.65 million, a 163.72% increase, mainly due to prepayments for scenic activities and travel agency group payments[11]. - The company incurred a credit impairment loss of approximately ¥6.35 million in the first nine months of 2019[26].

Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥649.94 million, representing a 3.63% increase compared to ¥627.20 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 8.91% to approximately ¥65.03 million, down from ¥71.39 million in the previous year[19]. - Basic earnings per share decreased by 10.00% to ¥0.36, down from ¥0.40 in the same period last year[20]. - The net profit after deducting non-recurring gains and losses was approximately ¥58.34 million, a decrease of 15.39% from ¥68.95 million in the same period last year[19]. - The company reported a significant decrease in net cash flow from operating activities, amounting to CNY -29.95 million, primarily due to reduced sales collections[39]. - The company reported a total of 6.69 million yuan in non-recurring gains and losses, with government subsidies closely related to normal business operations amounting to 4.24 million yuan[23]. Assets and Liabilities - The total assets of the company increased by 9.34% to approximately ¥2.36 billion, compared to ¥2.16 billion at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company rose by 5.56% to approximately ¥1.08 billion, up from ¥1.02 billion at the end of the previous year[19]. - The company's asset-liability ratio increased to 54.11%, up by 1.61 percentage points from the beginning of the year[36]. - The company's total liabilities grew by 12.70% to CNY 1,276,732,418.68 from CNY 1,132,851,593.94[42]. - Current liabilities increased by 19.76% to CNY 877,085,041.34, compared to CNY 732,389,546.92 in the previous period[42]. Revenue Sources - The company achieved a total operating revenue of 649.94 million yuan in the first half of 2019, with the scenic area operation management business accounting for approximately 70.03% of the total revenue[28]. - The hotel and catering business contributed 14.17% to the total revenue, while tourism product sales and tourism services accounted for 1.12% and 12.76%, respectively[28]. - The company reported a significant increase in tourism revenue in Xi'an, with a total of 1.40 billion tourists and total tourism revenue of 145.78 billion yuan, representing year-on-year growth of 21.9% and 27.0%[30]. Strategic Initiatives - The company has diversified its business model to include six major sectors: scenic area operation, hotel management, travel agency services, cultural performances, tourism product sales, and landscaping[27]. - The company is focused on expanding its market presence through strategic partnerships and enhancing its service offerings in the cultural tourism sector[26]. - The company has initiated key projects such as the Ocean Polar Park underwater restaurant and the Louguan Tourist Distribution Center, which opened on May 1, 2019[35]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements and does not commit to any specific future performance[5]. - The company has committed to ensuring that related party transactions are conducted at fair prices and in compliance with legal regulations[63]. - The company has a commitment to reduce related party transactions with its subsidiaries and ensure compliance with relevant laws and regulations[63]. Financial Management - The company has authorized the chairman to approve the use of idle funds for low-risk financial products, with a limit of CNY 100 million[55]. - The company has engaged in financial product investments totaling 40 million and 50 million, with average annualized returns reported[61]. - The company plans to enhance the management of accounts receivable to mitigate risks associated with delayed payments from management fees[54]. Shareholder Information - The company reported a profit distribution plan for the first half of the year, with a capital reserve increase proposal[62]. - The cash dividend distributed was 0.45 yuan per 10 shares, totaling 8,077,935.38 yuan (including tax)[101]. - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 53.16% of the shares, totaling 95,425,934 shares[104]. Accounting Policies and Changes - The company has implemented changes in accounting policies and estimates, effective from January 1, 2019, which do not impact financial status, operating results, or cash flow[84]. - The financial statement format has been revised according to the Ministry of Finance's notification on April 30, 2019, affecting the presentation of balance sheets and income statements[85]. - The company has not reported any significant accounting errors that require retrospective restatement during the reporting period[87]. Corporate Governance - The company has renewed its appointment of Sigma Accounting Firm for the 2019 financial report and internal control audit, with a one-year term[66]. - There were no significant lawsuits or arbitration matters during the reporting period[66]. - The company has no adverse integrity issues, such as failing to fulfill court judgments or large debts that are overdue[66].

Financial Performance - In 2018, the company's operating revenue reached ¥1,344,846,452.31, representing an increase of 18.78% compared to ¥1,132,206,742.29 in 2017[22] - The net profit attributable to shareholders of the listed company was ¥76,097,558.00, up 21.89% from ¥62,429,217.63 in the previous year[22] - The net profit after deducting non-recurring gains and losses was ¥53,992,748.48, a slight increase of 0.71% from ¥53,612,847.33 in 2017[22] - The net cash flow from operating activities was ¥147,569,911.14, reflecting a 13.02% increase from ¥130,574,299.36 in 2017[22] - As of the end of 2018, the total assets amounted to ¥2,157,878,351.33, an increase of 14.36% from ¥1,886,870,913.11 at the end of 2017[22] - The net assets attributable to shareholders of the listed company were ¥1,024,597,444.34, which is an 8.02% increase from ¥948,499,886.34 in 2017[22] - Basic earnings per share increased by 20% to CNY 0.42 in 2018 compared to CNY 0.35 in 2017[23] - The weighted average return on equity rose to 7.71% in 2018, up from 6.81% in 2017, an increase of 0.90 percentage points[23] - The gross profit margin decreased to 27.12%, down by 0.84 percentage points year-on-year, primarily due to a decline in the gross margin of the scenic area operation management segment[53] Dividend and Capital Plans - The company plans to distribute a cash dividend of ¥0.45 per 10 shares, totaling ¥8,077,935.38 (including tax) to shareholders[4] - The company intends to increase its capital by converting part of the capital reserve into share capital, with a plan to issue 2 additional shares for every 10 shares held[4] Business Operations and Strategy - The company operates several key cultural tourism sites, including the 5A-rated Xi'an Qujiang Dayan Pagoda and the Tang Paradise[35] - The company has diversified its business into six major sectors, including scenic area management, hotel management, and cultural tourism performances[35] - The company plans to enhance its travel service offerings through the establishment of the "Qujiang Travel Agency Group"[36] - The company plans to enhance its cultural tourism brand through improved marketing and product development capabilities[41] - The company aims to develop new products and enhance consumer engagement to maintain competitive advantages in the tourism sector[65] - The company plans to explore the integration of cultural tourism and aims to enhance its core competitiveness by expanding market space and optimizing management structures[77] Market and Industry Insights - The tourism industry in Shaanxi province saw a 29.7% increase in cultural industry investment year-on-year, with total tourism revenue reaching ¥599.47 billion, a 24.5% growth[64] - Xi'an city received 247.39 million domestic and international tourists, a 36.73% increase year-on-year, with tourism revenue of ¥255.48 billion, up 56.42%[64] - The company reported that the cultural tourism market is transitioning from a focus on scenic spots to destination development, indicating a shift towards a more comprehensive tourism experience[74] - The company anticipates a growth period for cultural tourism towns, supported by national policies promoting unique towns[76] Financial Management and Investments - The company reported a net cash flow from financing activities of ¥88,394,689.06, a significant improvement compared to a net outflow of ¥84,527,815.20 in the previous year[52] - The company has invested ¥120 million in bank financial products, with an outstanding balance of ¥60 million[106] - The company has authorized the chairman to approve the use of idle funds for purchasing low-risk financial products, with a limit of up to ¥100 million and a term not exceeding one year[106] - The company has successfully recovered funds from multiple financial products, indicating effective management of its investments[110] Corporate Governance and Compliance - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[174] - The company has not reported any significant accounting errors or issues during the reporting period[92] - The company has retained Sigma Accounting Firm for annual financial and internal control audits, with fees amounting to RMB 45.5 million for financial audits and RMB 28.7 million for internal control audits[93] - The company has not reported any overdue amounts in its financial management activities[106] Social Responsibility and Community Engagement - The company is committed to poverty alleviation efforts, enhancing the living environment of supported villages[81] - The company has implemented a new model of poverty alleviation through tourism, benefiting local residents by prioritizing their employment in various operational aspects[137] - The company has organized numerous charitable activities across its scenic spots and hotels, demonstrating its commitment to social responsibility[141] Employee Management and Development - The company has a total of 4,355 employees, with 1,506 in the parent company and 2,849 in major subsidiaries[178] - The professional composition includes 1,876 production personnel, 809 sales personnel, 965 technical personnel, 352 financial personnel, and 353 administrative personnel[178] - Training programs are designed for various levels of employees, focusing on enhancing management capabilities and professional skills[180] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,910, down from 17,676 at the end of the previous month[150] - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 95,425,934 shares, representing 53.16% of the total shares[151] Legal and Regulatory Matters - The company has not faced any administrative penalties or investigations related to cultural heritage protection laws during the reporting period[67] - The company has not reported any significant changes in its debt situation or credit status during the reporting period[148]

Financial Performance - Operating revenue rose by 11.70% to CNY 317,272,485.82 year-on-year[6] - Net profit attributable to shareholders increased by 2.29% to CNY 30,630,814.97[6] - Basic and diluted earnings per share remained stable at CNY 0.17[6] - Total operating revenue for Q1 2019 was CNY 317,272,485.82, an increase of 11.7% compared to CNY 284,031,012.78 in Q1 2018[29] - Net profit for Q1 2019 reached CNY 30,122,178.91, slightly higher than CNY 30,020,122.41 in Q1 2018, reflecting a growth of 0.34%[31] - The profit margin for Q1 2019 was approximately 9.5%, compared to 10.6% in Q1 2018, indicating a decrease in profitability[31] - The company reported a total profit of CNY 35,159,199.06 for Q1 2019, slightly up from CNY 35,100,094.60 in Q1 2018[29] Assets and Liabilities - Total assets increased by 2.43% to CNY 2,210,371,523.48 compared to the end of the previous year[6] - The company's total assets reached CNY 2,210.37 million, an increase of CNY 52.49 million or 2.43% compared to the beginning of the year[12] - The company's current assets totaled CNY 974,149,407.39, slightly up from CNY 956,586,060.27 at the end of 2018[24] - Total liabilities increased to CNY 1,155,222,587.18, up from CNY 1,132,851,593.94, reflecting a growth of approximately 1.5%[25] - Current liabilities totaled CNY 750,928,742.67, compared to CNY 732,389,546.92, indicating an increase of about 2.7%[25] - The total liabilities to equity ratio stands at approximately 62.6%, indicating a moderate level of financial leverage[47] Cash Flow - Cash flow from operating activities showed a significant decline, with a net outflow of CNY 38,511,154.35 compared to a net outflow of CNY 3,096,981.92 in the same period last year[6] - The net cash flow from operating activities showed a significant decline of CNY 354.14 million, primarily due to reduced sales collections[13] - The cash inflow from sales was ¥287.62 million, a decrease of 7.4% compared to ¥310.64 million in Q1 2018[37] - The net cash flow from operating activities was -¥38.51 million in Q1 2019, compared to -¥3.10 million in Q1 2018, indicating a significant decline[37] - The total cash and cash equivalents at the end of Q1 2019 was ¥228.45 million, compared to ¥77.94 million at the end of Q1 2018, indicating a strong liquidity position[38] Shareholder Information - The number of shareholders reached 17,676 at the end of the reporting period[9] - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., holds 53.16% of the shares, with 95,425,934 shares pledged[9] Investment and Expenses - Non-recurring gains and losses totaled CNY 3,766,260.28, primarily from asset disposal and government subsidies[7] - The company reported a significant increase in investment income of CNY 14.23 million, a rise of 413.64% compared to the previous period[13] - Sales expenses increased to CNY 17,564,917.98 in Q1 2019, up 32.1% from CNY 13,308,492.28 in Q1 2018[29] - Management expenses rose to CNY 34,895,155.71 in Q1 2019, an increase of 14.6% compared to CNY 30,542,185.33 in Q1 2018[29] Inventory and Receivables - Accounts receivable increased by CNY 11.67 million, a rise of 71.77%, mainly due to an increase in bank acceptance bills received[12] - Inventory rose by CNY 155.26 million, an increase of 42.47%, attributed to higher labor costs in greening projects[12] - Accounts receivable increased to CNY 586,429,194.01 from CNY 537,993,857.87, indicating a growth of approximately 8.9%[24] - Inventory rose to CNY 52,082,269.30 from CNY 36,556,641.31, reflecting an increase of about 42.4%[24] Compliance and Regulatory - The company is undergoing adjustments in accounting standards effective from January 1, 2019, which may impact future financial reporting[44] - The company is in compliance with the new financial instrument and lease accounting standards effective from January 1, 2019[48]

Financial Performance - In 2018, the company achieved operating revenue of CNY 1,344,846,452.31, representing an increase of 18.78% compared to CNY 1,132,206,742.29 in 2017[17] - The net profit attributable to shareholders of the listed company for 2018 was CNY 76,097,558.00, up 21.89% from CNY 62,429,217.63 in 2017[17] - The net profit after deducting non-recurring gains and losses was CNY 53,992,748.48, a slight increase of 0.71% from CNY 53,612,847.33 in 2017[17] - The net cash flow from operating activities for 2018 was CNY 147,569,911.14, reflecting a 13.02% increase from CNY 130,574,299.36 in 2017[17] - As of the end of 2018, the total assets of the company reached CNY 2,157,878,351.33, an increase of 14.36% from CNY 1,886,870,913.11 at the end of 2017[17] - The net assets attributable to shareholders of the listed company were CNY 1,024,597,444.34 at the end of 2018, up 8.02% from CNY 948,499,886.34 at the end of 2017[17] - Basic earnings per share increased by 20% to CNY 0.42 in 2018 compared to CNY 0.35 in 2017[18] - The weighted average return on equity rose to 7.71% in 2018, up from 6.81% in 2017, an increase of 0.90 percentage points[18] - The gross profit margin decreased to 27.12%, down by 0.84 percentage points year-on-year, primarily due to a decline in the gross margin of the scenic area operation management segment[38] - The scenic area operation management segment generated revenue of ¥880,146,082.98, with a gross margin of 35.95%, reflecting a decrease of 0.97 percentage points compared to the previous year[39] Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 0.45 per 10 shares, totaling CNY 8,077,935.38, and to increase capital reserves by 2 shares for every 10 shares held[3] - The total share capital at the end of 2018 remained unchanged at 179,509,675 shares[17] - The company plans to distribute a cash dividend of 0.45 RMB per share, totaling approximately 8.08 million RMB, and will also increase capital reserves by 2 shares for every 10 shares held[72] Operational Highlights - The company operates several major cultural tourism attractions, including two national 5A-level scenic spots[25] - The hotel and catering segment includes the first Tang culture experiential hotel, enhancing the cultural tourism experience[26] - The company has developed a diverse range of cultural tourism performances, including large-scale shows and interactive experiences[26] - The company is gradually building a "Qujiang Travel Agency Group" through various business models, including full ownership and strategic partnerships[26] - The company’s tourism product sales are managed by a subsidiary specializing in the planning, design, and sales of tourism merchandise[26] - The company successfully signed external service projects in Chengdu and Hebei, marking new steps in market expansion[34] - The company hosted 35 cultural events during the reporting period, enhancing its service offerings and brand visibility[34] Investment and Financial Management - The company’s investment activities resulted in a net cash outflow of ¥128,827,653.62, compared to a net outflow of ¥102,426,926.79 in the previous year[37] - Financial expenses increased by 32.64% to ¥22,616,217.08, attributed to an increase in financing scale during the period[37] - Cash inflow from financing activities increased by 72.64% to 189,900,000.00 CNY compared to 110,000,000.00 CNY in the previous year[46] - The company has invested 120 million RMB in bank financial products, with an outstanding balance of 60 million RMB[95] - The company has a total of RMB 20 million invested in a bank wealth management product with an annualized return rate of 4.00%, which has not yet been redeemed[99] Strategic Initiatives and Future Outlook - The company plans to achieve approximately 1.4 billion RMB in revenue for 2019, with controlled costs of around 1.03 billion RMB and period expenses of about 275 million RMB[67] - The company aims to enhance its brand influence by accelerating major project advancements and expanding its "going out" strategy[65] - The company is focusing on developing diverse tourism products, including research tourism, rural tourism, smart tourism, accommodation tourism, and children's tourism[66] - The company is actively pursuing mergers and acquisitions to diversify its portfolio and strengthen its market position[115] - The company anticipates a positive outlook for 2019, with revenue growth projected to exceed 25% year-on-year[118] Corporate Governance and Compliance - The company has not reported any instances of funds being occupied or overdue receivables during the reporting period[78] - The company has ensured that related party transactions are conducted at fair prices and disclosed in accordance with relevant laws and regulations[76] - The company has not faced any administrative penalties or investigations related to violations of cultural heritage protection laws during the reporting period[126] - The company’s governance structure complies with the requirements of the Corporate Governance Code, with no significant discrepancies noted[180] - The company’s audit committee held four meetings to review the 2017 financial report and other key documents, ensuring compliance with regulations and accurate financial reporting[186] Social Responsibility and Community Engagement - The company has actively engaged in poverty alleviation efforts, leveraging cultural resources to promote local economic development and improve living standards in surrounding areas[127] - The company has improved the living conditions of special families among impoverished populations through targeted assistance programs[130] - The company has implemented a series of social responsibility initiatives, including various charitable activities and community support programs[135] - The company has enhanced its brand influence and service capabilities by contributing to the construction of a better urban environment in Xi'an[133] Employee and Management Information - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was CNY 2.1279 million[162] - The company employed a total of 4,355 staff, with 1,506 in the parent company and 2,849 in major subsidiaries[164] - The company has implemented a competitive and equitable salary policy based on performance and responsibilities[166] - The company plans to enhance training programs for various management levels to improve operational efficiency[167][168][170] Legal and Regulatory Matters - The company has not reported any significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[83] - The company has not faced any risks of suspension or termination of listing during the reporting period, ensuring continued market presence[83] - The company has not reported any major accounting errors or corrections, indicating sound financial practices[81]

| 一、重要提示 | | 3 | | --- | --- | --- | | 二、公司基本情况 | | 3 | | 三、重要事项 | | 5 | | 四、附录 | | 10 | 西安曲江文化旅游股份有限公司 2018 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | | | | 单位：元 币种：人民币 | | | --- | --- | --- | --- | --- | --- | | | 本报告期末 | 上年度末 | | 本报告期末比上年 | | | | | | | 度末增减(%) | | | 总资产 | 2,109,386,323.67 | 1,886,870,913.11 | | | 11.79 | | 归属于上市公司股东的净资产 | 1,061,914,404.05 | 948,499,886.34 | | | 11.96 | | | 年初至报告期末 | 上年初至上年报告期末 | | 比上年同期增减(%) | | | | （1-9 月） | （1-9 月） | | | | | 经营活动产生的现金流量净额 | 77,178,642.48 | 85,454,840.99 ...

Financial Performance - The company's operating revenue for the first half of 2018 was RMB 627,195,223.64, representing a year-on-year increase of 25.53% compared to RMB 499,623,236.77 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached RMB 71,389,422.35, a 40.82% increase from RMB 50,695,523.93 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 68,952,768.54, up 38.05% from RMB 49,948,494.34 in the same period last year[19]. - Basic earnings per share increased by 42.86% to RMB 0.40 from RMB 0.28 in the previous year[20]. - The weighted average return on net assets rose to 7.25%, an increase of 1.69 percentage points compared to 5.56% in the previous year[20]. - The company’s operating profit for the period was CNY 83.72 million, an increase of 44.10% year-on-year[37]. - The company announced a significant increase in its half-year performance for 2018, with a projected growth rate of over 30% compared to the previous year[85]. Cash Flow and Assets - The net cash flow from operating activities decreased by 30.47% to RMB 33,605,306.80, primarily due to increased wage payments, taxes, and operational costs related to revenue growth[19]. - Total assets at the end of the reporting period were RMB 2,005,688,438.12, reflecting a 6.30% increase from RMB 1,886,870,913.11 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 7.53% to RMB 1,019,889,308.69 from RMB 948,499,886.34 at the end of the previous year[19]. - Current assets accounted for 42.09% of total assets, rising from 38.38% in the previous period, with a total of CNY 844,171,185.67, a 16.59% increase[43]. - Total liabilities rose to CNY 986,784,034.44 from CNY 936,384,134.70, an increase of approximately 5.4%[106]. Tourism and Revenue Sources - The company achieved operating revenue of 627.20 million RMB in the first half of 2018, with the scenic area operation management accounting for approximately 68.43% of total revenue[27]. - The hotel and catering business contributed 14.61% to the total revenue, while tourism product sales and tourism services accounted for 0.99% and 13.20%, respectively[27]. - The total number of domestic and international tourists received in Shaanxi Province reached 328.26 million in the first half of 2018, representing a year-on-year growth of 24.14%[28]. - The total tourism revenue in Shaanxi Province was 307.64 billion RMB, with a year-on-year increase of 30.29%[28]. - The tourism revenue in Xi'an reached 114.76 billion RMB, reflecting a year-on-year increase of 56.3%[28]. Strategic Initiatives and Market Position - The company has established a comprehensive operational management capability for historical and cultural theme scenic areas, positioning itself as a leader in the industry[30]. - The company is actively expanding its tourism services, including outbound and inbound travel, business tourism, and cultural performances, to diversify its revenue streams[26]. - The company is focusing on expanding its market presence through "intellectual outreach," "hotel outreach," and "scenic area outreach" strategies[36]. - The company is leveraging its unique historical and cultural resources, particularly from the "Qin, Han, and Tang" dynasties, to enhance its competitive advantage in the tourism sector[32]. Related Party Transactions and Governance - The company engaged in related party transactions totaling 1,189,064.61 CNY for property management services, accounting for 0.28% of total related transactions[64]. - The commitment to avoid or minimize related party transactions was reiterated, with a focus on fair pricing and compliance with legal regulations[58]. - The company has disclosed its daily related party transactions for the year 2018, which were approved at the 2017 annual shareholders' meeting[62]. Risks and Challenges - The company faces risks related to seasonal factors affecting the tourism industry, potential accounts receivable issues, and impacts from national policies on its hotel and tourism sectors[51]. - The company has significant assets under restriction due to bank loan collateral, including land use rights and buildings[44]. Financial Management and Accounting Policies - The company adheres to the accounting policies and estimates that include the recognition and measurement of bad debt provisions, inventory measurement, and depreciation methods for fixed assets[135]. - The financial statements comply with the requirements of the accounting standards, accurately reflecting the company's financial position as of June 30, 2018[136]. - The company recognizes revenue from product sales when ownership risks and rewards are transferred to the buyer, and the revenue amount can be reliably measured[196]. Community Engagement and Social Responsibility - The company actively engages in poverty alleviation through tourism, enhancing local economic development and improving living standards in surrounding areas[71]. - The "scenic area + countryside" model has been implemented to create job opportunities for local residents, prioritizing their employment in various phases of scenic area operations[72]. - Training programs for tourism service personnel are being conducted to improve the quality of tourism services and enhance residents' service awareness[74].

Financial Performance - Net profit attributable to shareholders of the listed company was CNY 29,944,804.91, reflecting a growth of 3.46% year-on-year[5] - Operating revenue for the period was CNY 284,031,012.78, representing a year-on-year increase of 21.58%[5] - The company reported a net profit of CNY 350,453,360.36, up from CNY 320,508,555.45, indicating a growth of approximately 9.3% in retained earnings[29] - Net profit for Q1 2018 was ¥30,020,122.41, representing a growth of 5.6% from ¥28,428,071.55 in Q1 2017[33] - Basic and diluted earnings per share were both CNY 0.17, up 6.25% from CNY 0.16 in the previous year[5] - Earnings per share (EPS) for Q1 2018 was ¥0.17, compared to ¥0.16 in the previous year[33] Cash Flow - The net cash flow from operating activities was CNY -3,096,981.92, showing an improvement from CNY -10,792,644.71 in the same period last year[5] - Cash flow from operating activities increased by 33.27% to ¥324,624,653.57, mainly due to increased sales receipts[13] - The total cash inflow from operating activities for Q1 2018 was CNY 324,624,653.57, an increase of 33.3% compared to CNY 243,582,191.82 in the same period last year[36] - The net cash flow from financing activities was CNY 22,465,356.99, a significant recovery from CNY -90,364,953.72 in Q1 2017[36] - Cash received from borrowings increased by 300.00% to ¥40,000,000.00, reflecting a larger financing scale compared to the previous year[13] Assets and Liabilities - Total assets as of the end of the reporting period reached CNY 1,901,854,326.45, an increase of 0.79% compared to the end of the previous year[5] - Current assets totaled CNY 744,641,484.47, showing a slight increase from CNY 724,059,964.66 at the beginning of the year[29] - The total liabilities decreased to CNY 921,347,425.63 from CNY 936,384,134.70, a decline of approximately 1.6%[29] - Long-term borrowings increased to CNY 302,000,000.00 from CNY 277,000,000.00, representing an increase of about 9.0%[29] - Cash and cash equivalents decreased by 44.17% to ¥77,935,013.10, primarily due to the purchase of financial products[11] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,853[8] - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., held 51.66% of the shares, with 46,088,100 shares pledged[8] Operational Costs and Income - Operating costs increased by 37.61% to ¥197,197,163.49, mainly due to higher operational costs in scenic areas[12] - Non-operating income for the period included CNY 32,786.01 from government subsidies related to normal business operations[6] - The company reported a total of CNY 312,616.72 in non-recurring gains and losses for the period[6] - Investment income increased by 49.37% to ¥343,945.21, primarily from returns on purchased financial products[12] Legal and Compliance - The company reported a net profit impact of -1.75 million from a court case in 2016, with an estimated liability of 4.16 million recognized[19] - The company has not faced any administrative penalties or investigations related to cultural heritage protection laws during the reporting period[24] - The company has initiated an appeal to the Shaanxi Provincial High Court regarding a contract dispute to further mitigate losses[19] Strategic Developments - The company is in the process of a takeover bid by Overseas Chinese Town West Investment Co., Ltd., with updates provided in various financial reports[14] - The company is involved in a strategic cooperation framework agreement with China Overseas Chinese Town Group, which may lead to significant changes in control and ownership structure[22] - The company is in the process of expanding its capital through a shareholding increase agreement with China Overseas Chinese Town Group, which will result in a change in its controlling shareholder[23]