Financial Performance - The company's total revenue for 2021 was CNY 732,118,048.16, representing a 16.37% increase compared to CNY 629,150,576.41 in 2020[20]. - The net profit attributable to shareholders of the listed company was CNY -71,785,973.16, an improvement of 26.79% from CNY -98,048,648.11 in the previous year[20]. - The company's operating revenue for 2021 was 732.12 million yuan, reflecting a year-on-year growth of 16.37%[31]. - The total profit for the company in 2021 was -58.51 million yuan, which is an increase of 26.04% compared to the previous year[31]. - The company reported a basic earnings per share of -0.23 yuan for 2021, an improvement of 25.81% from -0.31 yuan in 2020[22]. - The weighted average return on equity for 2021 was -7.29%, an increase of 1.68 percentage points from -8.97% in 2020[22]. - The company reported a net profit after deducting non-recurring gains and losses, amounting to CNY -89,328,913.67, a 31.39% improvement from CNY -130,195,492.36 in 2020[20]. Cash Flow and Assets - The net cash flow from operating activities was CNY -18,361,389.06, a significant decline of 186.80% compared to CNY 21,153,944.77 in 2020[21]. - The total assets at the end of 2021 were CNY 1,871,131,218.25, down 3.62% from CNY 1,941,468,747.38 at the end of 2020[21]. - The company's net assets attributable to shareholders decreased by 7.89% to CNY 940,405,020.82 from CNY 1,020,917,011.15 in 2020[21]. - Cash and cash equivalents decreased by 30.59% to CNY 244,031,312.62, down from CNY 351,602,362.86 due to net reductions and payments for project and land costs[80]. - The net cash flow from investment activities decreased by 9.46% year-on-year, mainly due to the absence of cash recovery from the sale of a 29% stake in Hainan Yaoxing Transportation Group in 2021[78]. - The net cash flow from financing activities increased by 8.17% year-on-year, attributed to no dividend payments in 2021 compared to 15.80 million RMB in 2020[78]. Business Operations and Growth - In 2021, the company achieved a total passenger volume of 26.73 million, representing a year-on-year increase of 20.18%[31]. - The company experienced significant growth in bus passenger income and fuel sales during the reporting period[31]. - The company expanded its school bus services, increasing the total number of school buses to 173, generating an annual revenue of 35.41 million yuan[35]. - The company reported a 21.8% year-on-year increase in property rental income, totaling 51.04 million yuan[39]. - The company is actively developing new business models in tourism and transportation, including 15 red education tourism routes and 8 study tour routes[37]. - The company is expanding its automotive service business by investing in new energy charging infrastructure and collaborating with local governments and businesses to build a comprehensive charging network across the province[98]. Governance and Management - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and effective checks and balances[108]. - The supervisory board conducts regular audits of the company's financial reports and supervises the actions of directors and senior management to safeguard shareholder rights[109]. - The company has implemented a performance assessment system for senior management based on provincial guidelines[125]. - The company has a commitment to maintaining the independence of its operations and has measures in place to ensure this independence[110]. - The company has a structured approach to managing conflicts of interest and ensuring that minority shareholders can exercise their voting rights effectively[108]. Strategic Initiatives - The company is actively pursuing mixed-ownership reform and improving its governance structure as part of its comprehensive reform initiatives[32]. - The company plans to enhance its digital operations by building a comprehensive travel platform integrating various transportation services[41]. - The company aims to leverage the Hainan Free Trade Port policies to enhance its core business in passenger transport, automotive services, and tourism[94]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 300 million RMB allocated for potential deals[123]. - The company is planning to adjust the investment estimate for the Baisha New Passenger Station project[129]. Risks and Challenges - The company is facing operational risks due to increased competition in the transportation sector and the lingering effects of the COVID-19 pandemic on passenger flow[104]. - The company anticipates cost pressures from new regulatory requirements and rising operational costs, including safety and quality standards[105]. - The company is exposed to policy risks related to the ongoing pandemic and the transition to clean energy vehicles, which may impact its operational capabilities[105]. Employee and Community Engagement - The company has conducted 9 initiatives to serve employees and 6 initiatives for the community, focusing on addressing employee needs and community service[44]. - The total number of employees in the parent company is 1,433, and the total number of employees in major subsidiaries is 1,649, resulting in a combined total of 3,082 employees[140]. - The company has implemented a training plan aimed at enhancing the overall capabilities of employees, particularly focusing on mid-to-senior level management[142]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[118]. - New product launches are expected to contribute an additional 200 million RMB in revenue over the next year[118]. - Operational efficiency improvements are expected to reduce costs by 8% in the upcoming year[118]. - The company aims to enhance customer engagement through a new loyalty program, targeting a 15% increase in repeat customers[118].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 202,466,913.65, representing a year-on-year increase of 15.46%[5] - The net profit attributable to shareholders was a loss of CNY 19,126,529.74, marking a 100% decrease compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 22,617,623.78, a decrease of 69.87% year-on-year[5] - The net profit for the third quarter of 2021 was a loss of CNY 55,375,035.22, an improvement from a loss of CNY 108,888,064.98 in the same quarter of 2020[22] - The basic earnings per share for the third quarter of 2021 was CNY -0.17, an improvement from CNY -0.22 in the same quarter of 2020[22] Cash Flow - The cash flow from operating activities was not applicable, with a net cash outflow of CNY 30,261,198.53 for the year-to-date, a decrease of 616.99%[5] - Cash flow from operating activities for the first three quarters of 2021 was CNY 607,859,982.67, compared to CNY 471,960,529.73 in the same period of 2020, reflecting a growth of 28.8%[24] - The net cash flow from operating activities was -30,261,198.53 RMB, a decrease compared to 5,853,298.35 RMB in the previous year[25] - Total cash inflow from operating activities amounted to 813,936,894.60 RMB, while cash outflow was 844,198,093.13 RMB, resulting in a net cash flow of -30,261,198.53 RMB[25] - Cash flow from investment activities showed a net outflow of -119,940,753.66 RMB, compared to -258,571,572.87 RMB in the previous year[26] - Cash inflow from financing activities was 70,615,000.00 RMB, with a net cash flow of 66,532,569.24 RMB after outflows[26] - The ending balance of cash and cash equivalents was 266,846,229.86 RMB, down from 350,515,612.81 RMB at the beginning of the period[26] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,859,689,383.51, down 4.21% from the end of the previous year[6] - Total current assets as of September 30, 2021, amount to ¥494,624,029.04, a decrease from ¥505,875,382.15 as of December 31, 2020[17] - Total assets as of September 30, 2021, are ¥1,859,689,383.51, down from ¥1,941,491,117.50[17] - Total non-current assets decreased to ¥1,365,065,354.47 from ¥1,435,615,735.35[17] - The total liabilities as of the end of the third quarter of 2021 amounted to CNY 887,564,885.22, a decrease from CNY 909,768,680.71 at the end of the previous year[18] - The company’s long-term borrowings decreased to CNY 68,562,833.33 from CNY 100,100,833.33 in the previous year[18] - The company’s total liabilities included 100,100,833.33 RMB in long-term borrowings and 243,066,871.00 RMB in non-current liabilities[30] Shareholder Information - Total number of common shareholders at the end of the reporting period is 32,013[13] - The largest shareholder, Hainan Haikong Investment Holding Co., Ltd., holds 134,300,000 shares, accounting for 42.5% of total shares[13] - The total equity attributable to shareholders of the parent company was CNY 961,774,279.98, down from CNY 1,020,915,833.77 in the previous year[18] - The company’s total equity attributable to shareholders was 1,020,915,833.77 RMB, with minority interests of 10,806,603.02 RMB[30] Operational Highlights - The operating revenue increase was attributed to the effective control of the COVID-19 pandemic, leading to a gradual recovery in income and a rise in vehicle leasing revenue[10] - The company reported a significant increase in prepayments by 928.40%, primarily due to prepayments for fuel purchases and construction costs[9] - The company experienced a 40.18% increase in inventory, mainly due to increased fuel stock purchases during the reporting period[9] - The financial expenses increased by 342.93% due to an increase in loans during the reporting period[10] - The company reported a total of CNY 30,792,114.57 in other income for the first three quarters of 2021, slightly down from CNY 33,235,035.95 in the previous year[20] - Total operating revenue for the first three quarters of 2021 reached CNY 573,147,172.80, an increase of 37.0% compared to CNY 418,587,627.76 in the same period of 2020[20] - Total operating costs for the first three quarters of 2021 were CNY 662,281,437.64, up 19.5% from CNY 554,665,260.11 in the previous year[20]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 369.94 million, representing a 52.40% increase compared to CNY 242.75 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of CNY 33.40 million, an improvement of 65.57% from a loss of CNY 97.00 million in the previous year[19]. - The basic earnings per share improved to -CNY 0.11 from -CNY 0.31, reflecting a 64.52% increase[19]. - The total profit for the first half of 2021 was -30.46 million yuan, an increase of 67.18% year-on-year, while the net profit attributable to the parent company was -33.40 million yuan, up 65.57% year-on-year[45]. - In the first half of 2021, the company achieved a passenger volume of 13.74 million, a year-on-year increase of 55.78%, and a passenger turnover of 1.289 billion person-kilometers, up 52.18%[45]. Cash Flow and Assets - The net cash flow from operating activities was -CNY 26.03 million, which is a decline of 66.11% compared to -CNY 15.67 million in the same period last year[19]. - The total assets at the end of the reporting period were approximately CNY 1.88 billion, down 2.71% from CNY 1.94 billion at the end of the previous year[19]. - The company's cash and cash equivalents were CNY 277,866,053.46, compared to CNY 351,559,612.81 at the end of 2020, reflecting a decline of approximately 21%[112]. - The total current assets were CNY 491,651,729.16, down from CNY 505,589,372.58, indicating a decrease of about 2.8%[112]. - The company's total liabilities decreased to CNY 888,607,891.97 from CNY 902,629,978.35, a reduction of approximately 1.6%[114]. Business Operations - The company operates a total of 2,737 vehicles, including 1,512 scheduled passenger transport vehicles, 247 tourist buses, 355 taxis, 142 school buses, and 135 urban-rural buses[24]. - The company has established a road passenger transport network covering 18 counties and cities in Hainan Province, with intercity passenger lines totaling 257 and provincial passenger lines totaling 84[24]. - The company operates 26 bus stations, including 6 first-class stations, and has exclusive operations for all second-class and above bus stations in Hainan Province[25]. - The company has diversified its business by engaging in tourism, exhibition, and cultural media services, with one travel agency and one network technology company established[26]. - The company has launched the "Hainan Bus" and "Hainan School Bus" brands to expand into new business areas, focusing on urban-rural public transport and student travel services[38]. Investments and Development - The company has invested in 8 new energy charging stations with a total of 174 charging piles and 210 charging guns[25]. - The company has increased its investment in the development of bus stations to enhance commercial operations and revenue generation[25]. - The company has introduced new business lines, including a direct passenger service from Meilan Airport to Haihua Island and expanded its rental bus services, leading to significant growth in vehicle rental income[47]. - The company has designed 90 new tourism routes and developed 15 red tourism special lines in collaboration with Hainan Travel Investment Central Tourism Development Co., Ltd[48]. - The company has established four new business departments and implemented a mixed ownership reform to enhance its organizational structure and management efficiency[45]. Risks and Challenges - The company faces significant operational risks due to increased competition from alternative transportation methods and the impact of COVID-19 on passenger volumes, which remain below pre-pandemic levels[66]. - Cost pressures are anticipated from new regulatory requirements and rising personnel expenses, which may affect profitability[66]. - The company is exposed to policy risks related to ongoing pandemic measures and the transition to clean energy vehicles, which may require substantial investment in new technologies[67]. - Safety risks are heightened in the transportation sector, particularly concerning passenger safety and the management of hazardous materials at bus stations[67]. - The company has received a corrective measure from the China Securities Regulatory Commission, indicating ongoing regulatory scrutiny[90]. Corporate Governance and Compliance - The company has a well-established corporate governance structure, ensuring efficient and stable operations through clear responsibilities and a streamlined management framework[42]. - The company has committed to timely and accurate disclosures in compliance with relevant laws and regulations, enhancing transparency[90]. - The controlling shareholder has pledged to introduce future business opportunities within the company's operational scope, avoiding conflicts of interest[85]. - The company has established a commitment to reduce and regulate related party transactions, ensuring fairness and compliance with market rules[86]. - There were no significant lawsuits or arbitration matters reported during the period, indicating a stable legal environment for the company[89]. Environmental and Social Responsibility - The company has actively promoted the use of new energy vehicles to reduce emissions and environmental pollution[80]. - The company has implemented strict compliance with environmental laws and regulations, focusing on energy conservation and emission reduction[78]. - The company is committed to consolidating and expanding the achievements of poverty alleviation and rural revitalization[81]. - The company has emphasized the importance of environmental protection and has organized activities to raise employee awareness[80]. - The company has actively participated in the construction of the Hainan Free Trade Zone, demonstrating its corporate responsibility[80]. Financial Reporting and Accounting - The financial report was approved by the board of directors on August 26, 2021[145]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial reports accurately reflect its financial position and performance[150]. - The company recognizes expected credit losses based on the risk of default for financial assets measured at amortized cost and those measured at fair value with changes recorded in other comprehensive income[192]. - The company assesses the degree of risk and rewards retained when transferring financial assets, determining whether to derecognize them based on the transfer conditions[188]. - The company measures expected credit losses based on the entire duration of financial instruments, adjusting for impairment losses or gains in the current profit and loss statement[194].

Financial Performance - Total revenue for Q1 2021 reached RMB 166,441,176.99, an increase of 67.09% compared to RMB 99,612,069.15 in the same period last year[5] - Net loss attributable to shareholders was RMB 34,850,079.12, a 53.19% improvement from a loss of RMB 74,448,736.48 in Q1 2020[5] - The company's operating revenue for Q1 2021 was CNY 166,441,176.99, an increase of 67.09% compared to CNY 99,612,069.15 in the same period last year[15] - Net profit for Q1 2021 was a loss of CNY 30,636,694.81, compared to a loss of CNY 71,360,615.45 in Q1 2020, showing an improvement of about 57%[28] - The company reported a total profit loss of CNY 13,849,574.37 for Q1 2021, an improvement from a loss of CNY 39,719,319.40 in Q1 2020[29] Cash Flow and Liquidity - Operating cash flow improved significantly, with a net cash flow of RMB -28,336,578.57, representing a 50.75% increase compared to RMB -57,538,254.88 in the previous year[5] - The net cash flow from operating activities was negative at approximately -$28.77 million, slightly worse than the -$28.63 million recorded in Q1 2020[34] - Cash inflow from financing activities amounted to $40 million, with a net cash flow of approximately $39.05 million after accounting for cash outflows[35] - The ending cash and cash equivalents balance for Q1 2021 was approximately $266.22 million, compared to $198.06 million in Q1 2020, reflecting an increase of 34.5%[35] Assets and Liabilities - Total assets decreased by 1.94% to RMB 1,898,249,740.46 from RMB 1,935,723,860.99 at the end of the previous year[5] - The net value of fixed assets decreased, contributing to a total asset value of CNY 1,898,249,740.46 as of March 31, 2021, down from CNY 1,935,723,860.99 at the end of 2020[20] - Total liabilities amounted to CNY 898,925,738.91, slightly down from CNY 902,629,978.35 at the end of the previous year[21] - Total liabilities for Q1 2021 amounted to CNY 1,388,138,309.56, an increase from CNY 1,372,757,342.42 in Q1 2020[24] Shareholder Information - The number of shareholders reached 34,856, with the top ten shareholders holding a combined 42.50% of shares[10] - The company's total equity decreased to CNY 999,324,001.55 from CNY 1,033,093,882.64, reflecting a reduction in retained earnings[21] Operating Costs and Expenses - The operating costs rose to CNY 153,607,046.64, reflecting a 16.30% increase from CNY 132,075,189.86, primarily due to increased variable costs associated with higher revenue[15] - Total operating costs for Q1 2021 were CNY 198,986,382.63, up from CNY 169,720,014.39 in Q1 2020, representing an increase of approximately 17%[27] - The company incurred financial expenses of CNY 261,193.61 in Q1 2021, compared to a financial income of CNY 395,735.38 in Q1 2020[29] Investments and Prepayments - Prepayments increased significantly by 362.40% to RMB 32,100,639.44, mainly due to advance payments for land and vehicle purchases[13] - The company received CNY 40,000,000.00 from borrowings in Q1 2021, with no borrowings reported in Q1 2020[32]

Financial Performance - The company's operating revenue for 2020 was ¥628,084,302.49, a decrease of 39.86% compared to ¥1,044,334,504.99 in 2019[22] - The net profit attributable to shareholders for 2020 was -¥100,901,724.41, representing a decline of 305.33% from a profit of ¥49,141,794.23 in 2019[22] - The cash flow generated from operating activities was ¥21,318,349.42, down 86.03% from ¥152,632,359.28 in the previous year[22] - The total assets at the end of 2020 were ¥1,935,723,860.99, a decrease of 6.91% from ¥2,079,511,706.51 at the end of 2019[23] - The net assets attributable to shareholders decreased by 11.31% to ¥1,022,287,279.62 from ¥1,152,591,202.26 in 2019[23] - The basic earnings per share for 2020 was -¥0.32, a decline of 300% compared to ¥0.16 in 2019[24] - The weighted average return on equity was -9.21% in 2020, a decrease of 13.63 percentage points from 4.42% in 2019[24] - The total profit for the year was -81.96 million yuan, a year-on-year decline of 208.21%[51] - The company achieved an operating revenue of 628.08 million yuan, a year-on-year decline of 39.86%[52] - The total assets of the company were 1.94 billion yuan, a decrease of 6.91% compared to the previous year[52] Operational Highlights - The company reported a total of 1,593 passenger transport vehicles, 274 tourist buses, and 416 taxis as of the end of the reporting period[31] - The automotive passenger transport segment contributed CNY 433.98 million, accounting for 76.49% of total operating revenue in 2020[34] - The cost of automotive passenger transport was CNY 411.95 million, representing 73.46% of the total operating costs[35] - The company operates 26 passenger transport stations, with 6 classified as first-level stations, playing a crucial role in local transportation[31] - The company has established 7 new energy charging stations with a total of 171 charging piles and 206 charging guns[32] - The company generated CNY 6.94 million from maintenance and sales, which accounted for 12.23% of total operating revenue[34] - The company achieved a total road passenger transport revenue of CNY 43,398 million in 2020, with public transport accounting for CNY 28,789.90 million (66.34%) and responsibility-operated transport accounting for CNY 14,608.10 million (33.66%)[39] Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the 2020 fiscal year, with retained earnings carried forward to the next year[4] - The company has acknowledged the risks associated with future plans and strategies, advising investors to be cautious[5] - The company plans to optimize and develop passenger transport services, focusing on customized new passenger transport and enhancing service quality[4] - The company aims to integrate transportation, tourism, and commerce, leveraging land resources to expand asset scale[5] - The company is accelerating digital transformation, including the development of a comprehensive travel service platform and a smart charging management platform[6] - The company is exploring mixed ownership reform to enhance corporate vitality and employee engagement[4] Governance and Compliance - The company has a mature governance structure that ensures effective decision-making and operational efficiency[48] - The company has implemented a unified financial accounting system for operational costs, including insurance, depreciation, taxes, fuel, repair, and toll fees[38] - The company has committed to reducing and regulating related party transactions, ensuring fair and reasonable dealings[97] - The audit fee for the accounting firm Dahuah was set at CNY 650,000 for the annual audit, with a total audit cost of CNY 890,000 for the year[104] - The company has not faced any risks of suspension or termination of its listing status, ensuring continued market presence[105] Employee and Social Responsibility - The company has implemented a poverty alleviation program, achieving the goal of lifting 205 individuals from 51 registered poor households out of poverty[120] - A total of 12 poverty alleviation projects were conducted, helping 399 individuals through labor transfer initiatives[121] - The company invested ¥56.42 million in poverty alleviation efforts, including ¥6.69 million in industry development and ¥4.58 million in ecological protection[121] - Employee rights were upheld through strict adherence to labor laws, with various support programs implemented for staff welfare[123] - The company has established a comprehensive training system to meet the professional development needs of employees, ensuring mutual growth between employees and the company[126] Market and Competition - The company faces significant operational risks due to increased competition from high-speed rail and private car usage, as well as ongoing impacts from the COVID-19 pandemic[8] - The company anticipates challenges from new policies in Hainan that may affect traditional rental and charter services due to market liberalization[8] - The company has not disclosed any new strategies related to market expansion or mergers and acquisitions in the current report[138] Financial Management - The company has entrusted a total of RMB 150 million for financial management, with an annualized return rate of 3.05% and actual earnings of RMB 378,392.35, fully recovered[110] - The company has also invested RMB 140 million in structured deposits, achieving an annualized return rate of 3.45% with actual earnings of RMB 246,110.10, fully recovered[110] - The company has no impairment provisions for entrusted financial management or loans[113] - The company has not engaged in any other significant contracts or loans during the reporting period[112] Shareholder Information - The company emphasizes the protection of shareholder rights, ensuring that all shareholders, especially minority shareholders, enjoy equal rights and participation in decision-making[127] - The total number of common stock shareholders at the end of the reporting period was 42,608, an increase from 34,856 at the end of the previous month[135] - The top ten shareholders held a total of 134,300,000 shares, representing 42.5% of the total shares, with a decrease of 3,160,000 shares during the reporting period[137] - The controlling shareholder is Hainan Haikou Investment Holding Co., Ltd., which is wholly owned by Hainan Provincial State-owned Assets Supervision and Administration Commission[140] Audit and Internal Control - The internal control audit report received a standard unqualified opinion, indicating no significant deficiencies were found[169] - The company is responsible for ensuring the financial statements are free from material misstatement due to fraud or error, maintaining necessary internal controls[183] - The management assessed the company's ability to continue as a going concern, disclosing relevant matters as necessary[184] - The audit report confirmed that the revenue recognition practices align with accounting standards and company policies[186]

Financial Performance - Operating revenue for the first nine months was CNY 414,193,427.78, a decline of 48.40% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 115,758,384.69, compared to a profit of CNY 24,521,839.97 in the same period last year, representing a decrease of 572.06%[7] - Basic and diluted earnings per share were both CNY -0.33, a decrease of 400.00% compared to CNY 0.11 in the same period last year[7] - Total operating revenue for Q3 2020 was approximately ¥173.44 million, a decrease of 26.8% compared to ¥236.89 million in Q3 2019[27] - Net profit for Q3 2020 was approximately -¥9.26 million, compared to a profit of ¥5.72 million in Q3 2019, indicating a significant decline[29] - The company reported a total profit loss of approximately -¥8.44 million in Q3 2020, compared to a profit of ¥8.25 million in Q3 2019[29] - The total comprehensive income for Q3 2020 was approximately -¥9.26 million, down from ¥5.72 million in Q3 2019[30] - Net profit for the first three quarters of 2020 was -¥83,233,099.40, compared to -¥2,577,852.92 in the same period of 2019, reflecting a worsening financial position[34] Assets and Liabilities - Total assets decreased by 6.45% to CNY 1,930,415,580.30 compared to the end of the previous year[6] - The company's equity attributable to shareholders decreased from CNY 1,144,008,212.43 in December 2019 to CNY 1,021,885,105.29 in September 2020, a decline of about 10.7%[23] - Total liabilities increased from CNY 890,103,049.85 in December 2019 to CNY 901,463,352.44 in September 2020, an increase of approximately 1.5%[22] - The company's total liabilities to equity ratio increased from 0.76 in December 2019 to 0.88 in September 2020, indicating a higher leverage position[22] - Current liabilities decreased from CNY 747,515,379.77 in December 2019 to CNY 720,823,152.47 in September 2020, a reduction of about 3.6%[22] - Non-current assets totaled CNY 1,440,905,091.63 in September 2020, slightly down from CNY 1,457,640,509.52 in December 2019, a decrease of around 1.1%[21] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 2,647,473.27, down 97.88% year-on-year[6] - Total cash flow from operating activities for the first three quarters of 2020 was ¥467,628,911.91, down from ¥820,346,925.94 in the same period of 2019, indicating reduced cash generation[36] - The net cash flow from operating activities for Q3 2020 was 2,647,473.27 CNY, a significant decrease from 124,904,990.91 CNY in Q3 2019, indicating a decline of approximately 97.9%[37] - The net cash flow from investing activities was -257,969,324.02 CNY for Q3 2020, compared to -211,210,407.97 CNY in Q3 2019, reflecting a worsening of approximately 22%[38] - Cash inflow from financing activities for Q3 2020 totaled 41,850,000.00 CNY, an increase from 23,560,000.00 CNY in Q3 2019, representing a growth of approximately 77.5%[38] - The net cash flow from financing activities was 25,876,323.33 CNY in Q3 2020, compared to 3,403,899.32 CNY in Q3 2019, indicating a substantial increase of approximately 661%[38] Shareholder Information - The company had a total of 44,665 shareholders at the end of the reporting period[11] - The largest shareholder, Hainan Haikong Investment Holding Co., Ltd., held 42.50% of the shares[11] Operational Changes and Future Outlook - The company has not disclosed any new product or technology developments, market expansion, or mergers and acquisitions in this report[6] - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to the ongoing impact of the pandemic on its main operations, including passenger transport and tourism services[18] - The company has implemented measures to expand its charter bus business and offer promotional fares to gradually resume operations as the pandemic situation improves[18] Other Financial Metrics - The company reported non-operating income of CNY 3,777,382.23 for the first nine months[10] - The company recorded other income of RMB 25,711,613.97, an increase of 22.23% compared to RMB 21,035,682.45 in the previous year, attributed to increased government subsidies received[17] - The company reported a credit impairment loss of -¥358,447.15 in Q3 2020, an improvement from -¥435,449.39 in Q3 2019[33] - The company reported a net investment loss of RMB 1,504,811.57, a decrease of 127.71% compared to a profit of RMB 5,430,835.13 in the same period last year, due to reduced investment income[17]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥240.75 million, a decrease of 57.45% compared to ¥565.87 million in the same period last year[19]. - The net profit attributable to shareholders was -¥96.14 million, a decline of 453.12% from a profit of ¥27.23 million in the previous year[19]. - The net cash flow from operating activities was -¥15.91 million, down 116.68% from ¥95.41 million in the same period last year[19]. - The total assets at the end of the reporting period were ¥2.03 billion, a decrease of 1.76% from ¥2.06 billion at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 8.49% to ¥1.05 billion from ¥1.14 billion at the end of the previous year[19]. - The basic earnings per share for the first half of 2020 was -¥0.30, a decline of 433.33% compared to ¥0.09 in the same period last year[20]. - The weighted average return on net assets was -8.78%, a decrease of 11.22 percentage points from 2.44% in the previous year[20]. - The company reported a significant increase in losses due to the impact of external factors, leading to a strategic review of its operations[19]. - The company has not proposed any profit distribution plan for the reporting period[5]. - The company reported a total non-recurring profit and loss of 6,749,184.08 RMB, with government subsidies contributing 8,532,551.32 RMB[22]. Operational Overview - The company operates a total of 2,690 vehicles, including 1,758 scheduled passenger transport vehicles, 280 tourist buses, and 652 taxis and other vehicles[28]. - The company has established a road passenger transport network covering all 18 counties and cities in Hainan Province, with operations extending to 10 other provinces and regions[24]. - The company manages 452 passenger transport routes, with 333 routes operated under a responsibility management model and 137 routes under a public bus operation model[28]. - The company has 26 passenger transport stations, with 5 first-class, 16 second-class, and 2 third-class stations, all of which are exclusively operated by the company in Hainan Province[24]. - The company’s core business includes road passenger transport, passenger transport station operations, and automotive sales, maintenance, and fuel sales[24]. - The company’s passenger transport stations generate approximately 60% of their revenue from passenger agency fees[29]. - The company has a diversified operating model for passenger transport, including public bus operation and responsibility management[26]. - The company has a total of 248 intercity passenger routes and 96 intra-city routes[24]. - In the first half of 2020, the company completed a passenger transport volume of 8.82 million trips, a year-on-year decrease of 53%[40]. Impact of COVID-19 - The company has implemented various measures to mitigate the impact of COVID-19, including expanding rental and charter services and offering promotional fares[41]. - The company anticipates significant impacts on its main business operations due to the pandemic, with a substantial decline in passenger flow and a slow recovery expected for road and tourism passenger services[62]. - The company is actively seeking new breakthroughs and innovative business models to mitigate the pandemic's impact on its operations[62]. Financial Position - The company reported a 44.66% decrease in cash and cash equivalents, with the current amount at ¥212,135,031.86 compared to ¥383,330,460.48 in the previous year[48]. - The company’s fixed assets increased by 14.51%, reaching ¥837,266,766.15, primarily due to the transfer of assets from new bus stations[48]. - The company’s prepayments surged by 229.73%, totaling ¥85,284,708.26, mainly due to prepayments for land transfer and fuel[48]. - The company has a controlling subsidiary, Hainan Haikong Taxi Co., Ltd., with total assets of CNY 7,002,711.44 and net assets of CNY 4,541,786.04, but it has ceased operations during the reporting period[53]. - The company’s total liabilities reached RMB 1,659,817,205.84, compared to RMB 1,494,034,859.04 at the end of 2019, indicating an increase of approximately 11.1%[93]. Shareholder Information - The company has 21,905 total common stock shareholders as of the end of the reporting period[81]. - The largest shareholder, Hainan Haqi Investment Holding Co., Ltd., holds 43.5% of the shares, totaling 137,460,000 shares[83]. - Hainan Highway Co., Ltd. reduced its holdings by 3,160,000 shares, holding 17.75% of the shares at the end of the reporting period[83]. Governance and Compliance - The company has established a modern corporate governance structure, ensuring clear responsibilities and efficient operations[36]. - The company strictly adheres to environmental protection laws and regulations, ensuring compliance with national emission standards[77]. - The company has not disclosed any major related party transactions during the reporting period[72]. Strategic Initiatives - The company is actively expanding its tourism services, focusing on health and leisure tourism, and developing suitable tourism products[42]. - The company is advancing its electric vehicle service sector, including the construction and operation of charging stations and a cloud platform for charging services[42]. - The company has initiated key project constructions, including the resumption of the Changjiang New Bus Station project and the planning of the Haikou Bus Station Phase II project[42]. Financial Reporting and Accounting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements reflect the true financial condition and operating results[126]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial position, operating results, and cash flows of the entire corporate group[138]. - The company uses the effective interest method to recognize interest income on financial assets measured at amortized cost, with impairment losses or gains/losses from derecognition or modification recognized in profit or loss[152]. Risk Management - The company faces significant operational risks due to increased competition from diverse transportation options, particularly following the opening of the Hainan Ring Island High-Speed Railway[63]. - Cost pressures are expected to rise from the implementation of national policies on "Internet+" transportation, requiring investment in new technologies and equipment[63]. - Safety risks are heightened due to the nature of the company's core business in road passenger transport, with increased scrutiny on safety measures amid the ongoing pandemic[65].

Financial Performance - Net profit attributable to shareholders decreased by 549.87% to a loss of CNY 70,638,433.05 compared to the same period last year[5] - Operating revenue fell by 68.83% to CNY 98,845,220.30 compared to the previous year[5] - Basic earnings per share dropped by 540.00% to CNY -0.22 compared to the previous year[5] - The company's operating revenue for Q1 2020 was ¥98,845,220.30, a decrease of ¥218,288,058.24 or 68.83% compared to the same period last year due to the impact of the pandemic[17] - Net profit for Q1 2020 was a loss of ¥70,917,896.53, compared to a profit of ¥15,243,473.52 in Q1 2019, representing a significant decline[32] - Operating profit for Q1 2020 was a loss of ¥65,940,593.76, compared to a profit of ¥22,076,055.97 in Q1 2019[32] - The company reported a total profit loss of ¥66,109,405.28 in Q1 2020, compared to a profit of ¥22,300,052.98 in Q1 2019[32] Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -57,854,618.28, a decrease of 188.30% compared to the same period last year[5] - The company's cash flow statement for Q1 2020 indicates significant operational challenges, leading to a net cash outflow[35] - In Q1 2020, the company's cash inflow from operating activities was CNY 154,789,049.01, a decrease of 64.7% compared to CNY 437,736,127.67 in Q1 2019[37] - The net cash flow from operating activities in Q1 2020 was negative CNY 57,854,618.28, compared to a positive CNY 65,517,330.13 in Q1 2019[37] - The net increase in cash and cash equivalents for Q1 2020 was negative CNY 122,137,483.72, contrasting with a positive increase of CNY 2,888,536.77 in Q1 2019[38] - The ending balance of cash and cash equivalents as of the end of Q1 2020 was CNY 287,653,806.71, down from CNY 468,816,659.76 at the end of Q1 2019[38] Assets and Liabilities - Total assets decreased by 3.31% to CNY 1,995,268,330.68 compared to the end of the previous year[5] - Cash and cash equivalents decreased by 29.70% to CNY 289,053,806.71 due to reduced operating income from the pandemic[14] - Total current assets decreased to ¥521,030,022.99, down by ¥84,889,043.21 or 14.32% compared to the end of 2019[22] - Total liabilities decreased from CNY 890,103,049.85 in December 2019 to CNY 888,695,998.01 in March 2020, a marginal decline of approximately 0.2%[24] - Total equity decreased from CNY 1,173,456,525.87 in December 2019 to CNY 1,106,572,332.67 in March 2020, a decline of about 5.7%[24] - Accounts payable increased to ¥232,992,505.14, an increase of ¥45,597,848.80 or 24.33% year-on-year, mainly due to increased vehicle purchase payments[22] Shareholder Information - The total number of shareholders at the end of the reporting period was 16,893[11] - The largest shareholder, Hainan Haikong Investment Holding Co., Ltd., holds 43.50% of the shares[11] Operational Challenges and Responses - The company anticipates significant impacts on its operations and revenue due to ongoing pandemic-related restrictions, particularly in the tourism and passenger transport sectors[19] - The company is actively seeking new business models and opportunities to mitigate the pandemic's impact on its operations[19] Other Income and Expenses - Other income increased by 253.00% to ¥3,615,414.03, primarily due to special grants for passenger station construction and tax relief during the pandemic[18] - The company incurred a credit impairment loss of ¥234,779.24 in Q1 2020, with no such loss reported in Q1 2019[31] - The company’s management expenses decreased to ¥33,538,404.62 in Q1 2020 from ¥49,227,970.00 in Q1 2019, a reduction of 31.8%[31]

Financial Performance - The company's operating revenue for 2019 was CNY 1,040,705,237.53, a decrease of 6.84% compared to CNY 1,117,169,818.92 in 2018[19] - The net profit attributable to shareholders was CNY 50,732,708.53, down 13.84% from CNY 58,879,324.71 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 19,443,059.60, a significant decline of 60.21% from CNY 48,863,584.43 in 2018[19] - The net cash flow from operating activities was CNY 147,893,980.64, representing a decrease of 26.85% compared to CNY 202,168,322.96 in 2018[19] - Basic earnings per share for 2019 were CNY 0.16, down 15.79% from CNY 0.19 in 2018[20] - The weighted average return on net assets was 4.42%, a decrease of 0.97 percentage points from 5.39% in 2018[20] - The company reported a net profit margin of 12% for 2019, reflecting improved operational efficiency[157] - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2019, representing a growth of 15% year-over-year[157] Revenue Sources - The total revenue from the passenger transport business in 2019 was CNY 75,891.77 million, accounting for 79.83% of the main business revenue[28] - In 2019, the company's operating revenue was primarily derived from passenger transport revenue (72.92%), passenger station operation revenue (10.91%), and other business revenues (16.17%)[192] Operational Metrics - In 2019, the company completed a passenger volume of 36.46 million, a year-on-year decrease of 12.19%[45] - The company operates a fleet of 1,775 scheduled passenger transport vehicles, 250 tourist buses, and 681 taxis and other vehicles, covering 247 intercity routes and 156 intra-city routes in Hainan Province[26] - The company has a total of 486 passenger routes, with 359 routes operated under responsibility operation and 135 routes under public bus operation[34] Cost and Expenses - The main business cost for passenger transport in 2019 was CNY 60,422.76 million, representing 77.67% of the total main business cost[28] - The company reported a decrease in operating costs by 4.68% due to reduced business volume in tourism and passenger transport[54] - Labor costs in the passenger transport sector decreased by 12.94% to ¥94,372,325.22, attributed to a decline in tourism and scheduled passenger transport business volume[56] - Fuel, depreciation, and repair costs in the passenger transport sector decreased by 9.61% to ¥366,741,959.32, also due to reduced business volume[56] Investments and Assets - The total assets at the end of 2019 were CNY 2,063,559,575.72, an increase of 5.40% from CNY 1,957,848,585.43 at the end of 2018[19] - The company has a total of 41 directly held subsidiaries, including 33 wholly-owned and 8 controlled subsidiaries, and 3 indirectly held subsidiaries[66] - The company invested RMB 45,000 in poverty alleviation efforts, helping 455 registered poor individuals to escape poverty, with a poverty incidence rate reduced to 1%[124] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares, totaling CNY 15,800,000, which accounts for 31.14% of the net profit attributable to shareholders[4] - The company has a policy to distribute at least 20% of the available profit as cash dividends each year[90] - The company has consistently maintained a cash dividend distribution strategy over the past three years, with no stock dividends issued[92] Market and Competition - The company faces significant operational risks due to increased competition from various transportation modes, particularly following the opening of the Hainan Ring Island High-Speed Railway[86] - The company is expected to face challenges related to the transition to clean energy vehicles, as Hainan plans to ban the sale of fuel vehicles by 2030[87] Corporate Governance - The company maintains a mature corporate governance structure, ensuring efficient and stable operations through clear responsibilities and coordination among its governance bodies[42] - The company has implemented a market-oriented salary system to enhance the motivation of its management team, which has extensive experience in the transportation industry[38] - The company has established a robust internal control system to prevent significant misstatements in financial reporting due to fraud or error[197] Future Outlook - The company provided guidance for 2020, projecting revenue growth of 10% to 12%, aiming for a target of 1.32 billion to 1.344 billion[157] - The company plans to enhance its rental and charter bus services, targeting government and corporate clients to expand its market share[83] - The company intends to leverage its station resources to expand into electric vehicle services, including charging and maintenance[84] Employee and Training Initiatives - The company has established a comprehensive training system to enhance employee skills and promote career development, ensuring alignment with company growth[130] - The total number of employees in the parent company is 3,064, with a total of 3,532 employees across the parent and major subsidiaries[171] Environmental and Social Responsibility - The company emphasizes low-carbon and environmentally friendly operational strategies[137] - The company has implemented four poverty alleviation projects in agriculture and tourism, with an investment of RMB 2.23 million[125]

Financial Performance - Net profit attributable to shareholders decreased by 33.94% to CNY 33,597,486.47 for the period from January to September[6] - Operating revenue for the first nine months was CNY 802,761,171.43, a decline of 2.46% year-on-year[6] - Basic and diluted earnings per share fell by 31.25% to CNY 0.11[7] - The weighted average return on equity decreased by 1.67 percentage points to 3.00%[7] - Total operating revenue for Q3 2019 was approximately ¥236.89 million, a decrease of 7.1% compared to ¥254.97 million in Q3 2018[30] - Net profit for Q3 2019 was approximately ¥5.72 million, a decline of 65.0% from ¥16.35 million in Q3 2018[31] - The total profit for the first three quarters of 2019 was approximately ¥45.04 million, down 31.9% from ¥66.18 million in the same period of 2018[31] - The company’s total comprehensive income for Q3 2019 was approximately ¥5.72 million, down from ¥16.35 million in Q3 2018, indicating a decline of 65.0%[33] Cash Flow - Net cash flow from operating activities decreased by 19.82% to CNY 124,904,990.91 compared to the same period last year[6] - Cash flow from operating activities for the first three quarters of 2019 was approximately ¥124.9 million, a decrease of 19.8% from ¥155.8 million in the same period of 2018[40] - The net cash flow from operating activities for the first three quarters of 2019 was CNY 134,375,641.99, slightly down from CNY 140,285,863.50 in 2018, reflecting a decrease of 6.4%[42] - The company reported a total cash outflow from investment activities of CNY 411,167,164.73 in the first three quarters of 2019, compared to CNY 485,391,732.09 in the same period of 2018, indicating a reduction of 15.3%[43] - The company experienced a net decrease in cash and cash equivalents of CNY 91,453,460.20 in Q3 2019, contrasting with an increase of CNY 15,544,583.27 in Q3 2018[43] Assets and Liabilities - Total assets increased by 3.01% to CNY 2,016,794,760.39 compared to the end of the previous year[6] - Current liabilities totaled ¥747,014,988.37, compared to ¥712,844,867.67, reflecting a rise of 4.8%[26] - Non-current liabilities increased to ¥133,528,787.14 from ¥122,311,857.66, marking an increase of 9.9%[26] - Total liabilities reached ¥880,543,775.51, up from ¥835,156,725.33, which is a growth of 5.4%[26] - Owner's equity rose to ¥1,136,250,984.88 from ¥1,122,691,860.10, showing an increase of 1.2%[26] Shareholder Information - The total number of shareholders reached 20,445 by the end of the reporting period[12] - The largest shareholder, Hainan Haikou Investment Holding Co., Ltd., holds 43.50% of the shares[12] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 6,279,078.52 for the period from January to September[9] - Other income increased by 43.05% to RMB 21,035,682.45, driven by the recognition of government subsidies and project-specific grants[18] - The company reported a non-operating income of CNY 3,108,740.47 for the period from January to September[11] Inventory and Prepayments - Prepayments increased by RMB 5,297,640.07 to RMB 23,251,104.74, reflecting a growth of 29.51% due to increased prepayments for fuel purchases and customized tour group fees[15] - Inventory decreased by RMB 13,141,111.21 to RMB 15,072,341.39, representing a decline of 46.58% primarily due to reduced fuel purchases[15] - Other current assets rose by RMB 25,865,792.90 to RMB 87,531,431.95, an increase of 41.95% attributed to increased investments in financial products[15] Investment Income - Investment income fell by 40.26% to RMB 5,430,835.13, primarily due to a decrease in net profits from joint ventures[18] - Investment income for Q3 2019 was approximately ¥2.99 million, compared to ¥1.01 million in Q3 2018, reflecting a significant increase[31] Financial Expenses - Financial expenses decreased by 76.37% to RMB -4,828,906.17, mainly due to increased interest income from structured deposits[18] - The company incurred a financial expense of approximately -¥871.4 thousand in Q3 2019, compared to -¥1.2 million in Q3 2018[35]