Financial Performance - The company's operating revenue for the first half of 2022 was ¥119,387,404.57, a decrease of 51.88% compared to ¥248,103,768.34 in the same period last year[19] - The net profit attributable to shareholders for the first half of 2022 was a loss of ¥32,922,980.38, representing a decline of 162.32% from a profit of ¥52,830,659.96 in the previous year[19] - The net cash flow from operating activities was a negative ¥54,069,633.67, a significant decrease from a positive cash flow of ¥48,794,618.36 in the same period last year, marking a decline of 210.81%[19] - Basic earnings per share for the first half of 2022 were -¥0.2975, a decrease of 162.33% compared to ¥0.4773 in the same period last year[20] - The weighted average return on net assets was -2.61%, down 6.81 percentage points from 4.20% in the previous year[20] - The company reported a significant increase in losses, with the net profit excluding non-recurring gains and losses at -¥37,189,309.34, a decline of 181.74% from ¥45,495,301.04 in the previous year[19] - The company achieved a revenue of CNY 119.39 million in the first half of 2022, a decrease of 51.88% year-on-year[30] - The net profit loss was CNY 32.92 million, representing a decline of 162.32% compared to the previous year[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,386,039,689.76, down 7.05% from ¥1,491,159,466.01 at the end of the previous year[19] - The net assets attributable to shareholders decreased by 4.02%, from ¥1,275,755,066.27 to ¥1,224,512,830.54[19] - The total liabilities decreased from CNY 215,404,399.74 to CNY 161,526,859.22, a decrease of approximately 25.0%[77] - Current liabilities decreased from CNY 178,177,929.21 to CNY 124,254,651.45, a reduction of about 30.2%[76] - The company's retained earnings decreased from CNY 735,142,564.50 to CNY 683,403,984.12, a decrease of about 7.1%[77] - The total equity attributable to shareholders decreased from CNY 1,275,755,066.27 to CNY 1,224,512,830.54, a decline of approximately 4.0%[77] Cash Flow - The cash flow from operating activities showed a net outflow of ¥54,069,633.67 in the first half of 2022, contrasting with a net inflow of ¥48,794,618.36 in the same period of 2021[88] - The total cash inflow from investment activities was ¥518,856,093.32, an increase from ¥428,524,509.47 in the first half of 2021[89] - The cash flow from financing activities resulted in a net outflow of ¥19,045,600.00 in the first half of 2022, compared to a net outflow of ¥16,602,000.00 in the same period of 2021[89] - The company's cash and cash equivalents at the end of the first half of 2022 amounted to ¥65,788,130.90, an increase from ¥53,475,424.75 at the end of the first half of 2021[89] Operational Strategy - The company operates seven hotels in the core scenic area, dominating the mid-to-high-end market, which is crucial for brand image and service quality[25] - The company has three cable car lines providing stable revenue from sightseeing services, leveraging its unique geographical advantages[25] - The company is focused on creating a comprehensive tourism service system, including hotels, cable cars, and travel agencies[25] - The company is adapting to market changes and enhancing its operational resilience in response to the evolving tourism landscape[23] - The company has established seven specialized teams to enhance operational management and address practical issues in various sectors[33] - The company is actively promoting digital transformation by forming a dedicated team and inviting industry experts for training and insights[33] Market Conditions - The tourism industry is experiencing a recovery phase, with domestic travel gradually resuming, although still below pre-pandemic levels due to ongoing COVID-19 impacts[24] - The company benefits from its strategic location near economically developed regions, which is expected to drive future visitor growth[27] - The company has a significant number of mid-to-high-end hotel rooms in the core scenic area, establishing a leading position in the local market[28] - The company’s passenger transport business holds exclusive rights within the scenic area, integrating various tourism services[28] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 20,499[68] - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., holds 36,109,376 shares, accounting for 32.63% of the total shares[69] - Anhui Province High-tech Industry Investment Co., Ltd. holds 16,267,338 shares, representing 14.70% of the total shares[69] - The top ten shareholders collectively hold a significant portion of the company's shares, with the first two shareholders alone accounting for over 47%[69] Compliance and Governance - The company has not faced any administrative penalties due to environmental issues during the reporting period[56] - The company has maintained compliance with environmental regulations, with no incidents of illegal emissions reported[56] - The company has no significant litigation or arbitration matters during the reporting period[61] - The company has not reported any significant new strategies or market expansions in the current financial report[66] Investment and Subsidiaries - The company established a wholly-owned subsidiary, Chizhou Pingtian Conference and Exhibition Co., Ltd., with a registered capital of CNY 1 million during the reporting period[42] - The company has three wholly-owned subsidiaries and one joint venture as of the reporting date[44] - The company reported an investment loss of CNY 10.44 million from its equity investment in Anhui Shitai Tourism Development Co., Ltd. for the reporting period[45] Accounting Policies - The accounting policies followed by the company comply with the requirements of the enterprise accounting standards[117] - The company's accounting period runs from January 1 to December 31 each year[118] - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, ensuring uniform accounting policies and periods[127]

Financial Performance - The company's operating revenue for Q1 2022 was ¥81,044,624.53, a decrease of 19.48% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥5,549,005.73, representing a decline of 131.63% year-on-year[5]. - The net cash flow from operating activities was negative at ¥42,511,982.95, a decrease of 288.89% compared to the previous year[5]. - Basic earnings per share were reported at -¥0.0501, down 131.61% from the same period last year[5]. - The company reported a net loss in Q1 2022 due to decreased visitor numbers and revenue caused by tightened pandemic control measures[16]. - The operating profit for Q1 2022 was a loss of ¥6,655,759.65, down from a profit of ¥24,512,755.05 in the same period last year[23]. - The total comprehensive income for Q1 2022 was -¥5,549,005.73, compared to ¥17,541,702.50 in Q1 2021, indicating a substantial decrease[24]. - The company incurred a tax expense of -¥1,176,438.24 in Q1 2022, contrasting with a tax expense of ¥6,811,837.21 in Q1 2021[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,431,208,065.23, a decrease of 4.02% from the end of the previous year[7]. - The company’s total liabilities were RMB 160,770,436.07, down from RMB 215,404,399.74, indicating a decrease of approximately 25.4%[21]. - The cash and cash equivalents decreased to RMB 44,866,723.05 from RMB 61,087,387.09, representing a decline of about 26.5%[19]. - Accounts receivable increased significantly to RMB 2,930,765.66 from RMB 916,762.60, marking a rise of approximately 219%[19]. - The total current liabilities decreased to RMB 123,440,022.30 from RMB 178,177,929.21, a reduction of about 30.7%[21]. - Long-term equity investments decreased slightly to RMB 66,496,541.63 from RMB 68,089,898.47, a decline of about 2.3%[20]. - The company’s retained earnings as of March 31, 2022, were RMB 729,593,558.77, slightly down from RMB 735,142,564.50[21]. Revenue and Costs - In Q1 2022, the total operating revenue was RMB 81,044,624.53, a decrease of 19.5% compared to RMB 100,654,908.69 in Q1 2021[22]. - In Q1 2022, the total operating costs increased to ¥89,384,430.48 from ¥82,066,994.41 in Q1 2021, representing an increase of approximately 8.5%[23]. - The revenue from sales of goods and services received in Q1 2022 was ¥83,809,968.69, a decrease from ¥97,913,062.87 in Q1 2021, reflecting a decline of approximately 14.3%[26]. - The total investment cash inflow for Q1 2022 was ¥102,092,407.19, compared to ¥143,128,307.86 in Q1 2021, showing a decrease of about 28.7%[27]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,421[13]. - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., held 36,109,376 shares, accounting for 32.63% of total shares[13]. Government Subsidies and Future Outlook - The company reported a significant decrease in government subsidies received, impacting other income by 91.43%[9]. - The company plans to implement various measures to mitigate the adverse effects of the pandemic on its operations, although the future business situation remains uncertain[16].

Financial Performance - The company achieved a net profit of CNY 60,523,299.71 for the year 2021, with an undistributed profit of CNY 55,458,351.51[6] - The cumulative undistributed profit reached CNY 735,142,564.50 by the end of 2021[6] - The company's operating revenue for 2021 was CNY 425,669,227.21, an increase of 24.81% compared to CNY 341,043,065.16 in 2020[23] - Net profit attributable to shareholders of the listed company reached CNY 60,523,299.71, reflecting a growth of 10.95% from CNY 54,549,591.87 in the previous year[23] - The basic earnings per share for 2021 was CNY 0.55, up 12.24% from CNY 0.49 in 2020[24] - The weighted average return on equity increased to 4.83% in 2021, compared to 4.49% in 2020, marking an increase of 0.34 percentage points[24] - The net cash flow from operating activities was CNY 120,125,995.86, a rise of 27.26% from CNY 94,391,328.66 in 2020[23] - Total assets at the end of 2021 amounted to CNY 1,491,159,466.01, representing a 3.93% increase from CNY 1,434,839,417.77 at the end of 2020[23] - The net profit after deducting non-recurring gains and losses was CNY 47,526,898.15, which is a 16.53% increase from CNY 40,784,711.25 in 2020[23] - The total equity attributable to shareholders of the listed company increased to CNY 1,275,755,066.27, a growth of 3.58% from CNY 1,231,624,160.24 in 2020[23] Dividend and Shareholder Returns - The board proposed a cash dividend of CNY 1.70 per 10 shares, totaling CNY 18,815,600 to be distributed to shareholders[6] - The company has established a cash dividend policy, ensuring that at least 20% of the distributable profits are allocated as cash dividends to shareholders from 2020 to 2022[128] - In 2021, the company proposed a cash dividend of 1.70 yuan per 10 shares, totaling 18.82 million yuan distributed to shareholders[128] Operational Developments - The company is focusing on consolidating its existing market channels and enhancing digital production capabilities, with a strategy to deepen community marketing and integrate online and offline sales channels[34] - The company has launched an electronic ticketing system to enhance operational efficiency and visitor experience, aligning with 5A scenic area service standards[36] - Key projects include the completion of the forest crossing trail and the western area of the rural complex project, as well as ongoing development of the Lion Peak scenic area[37][38] - The company is actively recruiting high-education talents and enhancing employee training to build a stable talent pool[39] - The company is advancing several key projects, including the Lion Peak Scenic Area project and the Jiuhua Mountain Traffic Conversion Center, to improve visitor services and capacity[85] Market and Industry Outlook - The tourism industry is expected to recover strongly due to government support and improving pandemic conditions, with the company positioned as a leader in the tourism market[42] - The company anticipates a revenue target of 440 million yuan and a net profit of 70 million yuan for the year 2022[79] - The company aims to enhance its core competitiveness by focusing on five key areas: scenic spots, hotels, cable cars, transportation, and rural comprehensive development[78] - The company is committed to developing a digital tourism regional platform and integrating high-quality tourism resources in Jiuhua Mountain and surrounding areas[78] - The company plans to leverage mergers and acquisitions, equity investments, and brand output to enhance sustainable and cross-regional development capabilities[78] Risk Management and Compliance - The management discussed potential risks in the "Management Discussion and Analysis" section, urging investors to pay attention to investment risks[10] - The company has maintained a transparent governance structure, ensuring compliance with relevant laws and regulations while protecting shareholder interests[92] - The company has not faced any objections from the board members regarding company matters during the reporting period[118] - The company has not identified any risks during the supervisory review of the reporting period[122] - The company acknowledges risks from major pandemics and natural disasters that could adversely affect its performance, particularly during peak tourism seasons[87] Employee and Governance - The total number of employees in the parent company and major subsidiaries is 1,740, with 1,429 in the parent company and 311 in subsidiaries[123] - The employee composition includes 884 production personnel, 189 sales personnel, 428 technical personnel, 63 financial personnel, and 176 administrative personnel[123] - The company emphasizes internal equity in its compensation policy, linking employee performance to remuneration to enhance satisfaction[125] - A three-tier training system has been implemented to improve employee skills, with regular assessments and online learning opportunities[126] - The company has maintained a focus on attracting qualified professionals to its board, enhancing its strategic direction[111] Financial Management and Investments - The company has invested CNY 450 million in bank wealth management products, with no overdue amounts[159] - The company has no issues regarding delisting risks or bankruptcy restructuring[152] - The company has maintained a good integrity status with no significant debts or court judgments unfulfilled during the reporting period[152] - The total amount of entrusted financial management by Agricultural Bank of China, Chizhou branch, reached CNY 90 million with an annualized return rate of 1.82%-3.60%, yielding actual returns of CNY 1,970,630.14[162] - The entrusted financial management amount of CNY 100 million by Industrial and Commercial Bank of China, Chizhou branch, had an annualized return rate of 1.50%-3.50%, resulting in actual returns of CNY 2,368,493.15[162] Acquisitions and Mergers - The company acquired 100% equity of Chizhou JiuHua Mountain Hongyuan Tourism Development Co., Ltd. for ¥10,482.13 million through a non-same control merger[58][68] - The company plans to absorb and merge with Chizhou JiuHua Mountain Hongyuan Tourism Development Co., Ltd., as per the board's resolution[116] - The company completed an acquisition of a local tourism firm for 200 million RMB, aimed at enhancing service offerings[101] Environmental and Social Responsibility - The company has not faced any administrative penalties related to environmental issues and has effectively implemented environmental protection measures[137] - The company has actively engaged in social responsibility, ensuring compliance with laws and maintaining ethical business practices[138] - The company provided 20,000 yuan in aid to San Yi Village for poverty alleviation efforts, contributing to infrastructure development[141] - The company emphasizes employee well-being, offering a safe working environment and regular health check-ups[140]

Financial Performance - The company's operating revenue for Q3 2021 was ¥77,651,703.56, a decrease of 39.65% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2021 was -¥2,428,844.57, a decline of 105.53% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥5,174,941.72, down 113.45% compared to the previous year[4] - Year-to-date operating revenue reached ¥325,755,471.90, an increase of 58.44% compared to the same period last year[4] - Year-to-date net profit attributable to shareholders was ¥50,401,815.39, up 303.83% year-on-year[4] - The basic earnings per share for the year-to-date period was ¥0.4554, an increase of 303.72% compared to the previous year[4] - Total operating revenue for the first three quarters of 2021 reached ¥325,755,471.90, a significant increase of 58.4% compared to ¥205,604,939.95 in the same period of 2020[22] - Net profit for the first three quarters of 2021 was ¥50,401,815.39, compared to ¥12,481,070.42 in the same period of 2020, representing a growth of 304.4%[23] - Earnings per share for the first three quarters of 2021 were ¥0.4554, significantly higher than ¥0.1128 in the same period of 2020[23] - The company reported a gross profit of ¥60,164,278.39 for the first three quarters of 2021, compared to ¥5,426,211.32 in the same period of 2020[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,465,015,652.39, a 2.10% increase from the end of the previous year[5] - Total assets amounted to ¥1,465,015,652.39, compared to ¥1,434,839,417.77 at the end of 2020[17] - The total liabilities as of the end of the third quarter of 2021 amounted to ¥201,067,765.40, a slight decrease from ¥203,215,257.53 at the end of 2020[22] - Total current liabilities decreased slightly to ¥176,887,239.55 from ¥180,122,297.54 year-over-year[17] - Total equity attributable to shareholders reached ¥1,263,947,886.99, an increase from ¥1,231,624,160.24 in the previous year[22] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥78,184,946.14, an increase of 1,287.99% year-on-year[4] - The company’s cash flow from operating activities showed a positive trend, indicating improved liquidity and operational efficiency[24] - In the first three quarters of 2021, the cash inflow from operating activities was CNY 344,544,010.52, a significant increase of 62.4% compared to CNY 212,036,092.81 in the same period of 2020[25] - The net cash flow from operating activities reached CNY 78,184,946.14, compared to only CNY 5,632,951.59 in the first three quarters of 2020, indicating a substantial improvement[25] - Cash inflow from investment activities totaled CNY 479,126,213.57, down 28.7% from CNY 671,341,367.06 in the previous year[26] - The net cash flow from investment activities was negative at CNY -139,745,445.45, worsening from CNY -104,553,656.21 in the same period last year[26] - Cash outflow for financing activities was CNY 16,602,000.00, a decrease of 31.7% compared to CNY 24,349,600.00 in 2020[26] - The ending balance of cash and cash equivalents was CNY 75,132,759.86, an increase from CNY 47,688,378.80 at the end of the same period last year[26] Shareholder Information - Total number of common shareholders at the end of the reporting period was 10,162[12] - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., holds 36,109,376 shares, accounting for 32.63% of total shares[12] Inventory and Receivables - Accounts receivable increased to ¥7,598,681.60 from ¥1,614,642.23 year-over-year[16] - The company reported a significant increase in inventory, rising to ¥7,330,785.17 from ¥6,653,448.43[16] - The company has a total of 36,369,922.91 in accounts payable, an increase from the previous year[17] Strategic Developments - The company has not disclosed any significant new strategies or product developments during the reporting period[15] - The company has not reported any new product launches or significant market expansion strategies in the current financial report[27]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 248,103,768.34, representing a 222.52% increase compared to CNY 76,926,765.21 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was CNY 52,830,659.96, a significant turnaround from a loss of CNY 31,454,032.10 in the previous year, marking a 267.96% increase[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 45,495,301.04, compared to a loss of CNY 36,548,652.37 in the same period last year, reflecting a 224.48% increase[17]. - The net cash flow from operating activities was CNY 48,794,618.36, a recovery from a negative cash flow of CNY 78,381,835.63 in the previous year, indicating a 162.25% improvement[17]. - Basic earnings per share increased to 0.4773 CNY, a 267.95% increase compared to the same period last year[18]. - Weighted average return on equity rose to 4.20%, an increase of 6.85 percentage points year-on-year[18]. - The company achieved operating revenue of 248.1 million RMB, a year-on-year increase of 222.52%[36]. - The net profit for the period was 52.83 million RMB, reflecting a year-on-year growth of 267.96%[36]. - The cash flow from operating activities showed a net increase of 162.25%, reaching 48.79 million RMB[36]. - The total profit for the first half of 2021 was CNY 59.11 million, compared to a loss of CNY 34.75 million in the same period of 2020, showcasing a strong recovery[90]. Assets and Liabilities - As of the end of the reporting period, the net assets attributable to shareholders were CNY 1,266,135,177.90, up 2.80% from CNY 1,231,624,160.24 at the end of the previous year[17]. - Total assets at the end of the reporting period were CNY 1,453,460,675.18, reflecting a 1.30% increase from CNY 1,434,839,417.77 at the end of the previous year[17]. - The company reported a significant increase in accounts receivable by 642.84%, amounting to 11.99 million RMB[39]. - The intangible assets increased by 47.92%, totaling 148.94 million RMB, primarily due to the impact of the newly acquired subsidiary[39]. - Total liabilities decreased to CNY 187,325,497.28 from CNY 203,215,257.53, a reduction of about 7.8%[79]. - Current assets totaled CNY 498,927,478.13, down from CNY 574,455,793.78 at the end of 2020, representing a decrease of about 13.2%[78]. - Non-current assets increased to CNY 954,533,197.05 from CNY 860,383,623.99, marking an increase of approximately 10.9%[78]. Investments and Acquisitions - The company acquired 100% equity of Chizhou JiuHuaShan Hongyuan Tourism Development Co., Ltd., impacting investment cash flow negatively by 390%[36]. - The company acquired 100% equity of Chizhou JiuHua Mountain Hongyuan Tourism Development Co., Ltd. for RMB 104.82 million in January 2021[42]. - The company acquired 100% equity of Jiuhua Mountain Hongyuan Tourism Development Co., Ltd. for 104,821,300 RMB on January 7, 2021[64]. - The company acquired 100% equity of Chizhou Ping Tian Tourism Development Co., Ltd. for 10,482.13 million RMB in January 2021[114]. Market and Business Strategy - The tourism market is showing steady recovery due to effective pandemic control, with domestic tourism consumption increasing[23]. - The company operates seven hotels, dominating the mid-to-high-end market in the local area, enhancing brand image and service quality[23]. - The company has three cable car lines providing stable revenue, leveraging its unique geographical advantages[24]. - The company’s travel agencies have a stable customer base and a well-established marketing network, contributing to overall business growth[27]. - The company is expanding its hotel business to surrounding areas, reducing dependency on local tourism resources[26]. - The management team possesses extensive experience and strategic insight, contributing to effective business performance[27]. - The company has actively pursued new strategies in response to changes in the tourism market, including the development of short videos and live streaming sales[29]. - The company has enhanced its WeChat platform functionalities to improve customer service and communication[29]. Risks and Challenges - The company faces risks from major pandemics and natural disasters, which could adversely impact operational performance, especially during peak tourism seasons[46]. - The company is addressing the risk of limited scenic area capacity due to increased traffic and visitor numbers, particularly during holidays[47]. - Safety risks associated with special equipment like cable cars and gondolas are a concern, as mismanagement or extreme weather could lead to safety issues[48]. Shareholder Information - The total number of ordinary shareholders reached 10,803 by the end of the reporting period[70]. - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., holds 36,109,376 shares, accounting for 32.63% of the total shares[70]. - Anhui Province High-tech Industry Investment Co., Ltd. holds 16,267,338 shares, representing 14.70% of the total shares[70]. - Anhui Jiarun Jindi Enterprise Management Co., Ltd. has 16,000,000 shares, which is 14.46% of the total shares[71]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders alone accounting for over 61%[70][71]. Corporate Governance and Compliance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[54]. - The company provided assistance of 20,000 RMB to San Yi Village in Qinyang County for poverty alleviation efforts in January 2021[57]. - The company reported a total of 1,200,000 RMB in expected related transactions for 2021, with actual transactions in the first half of 2021 amounting to 188,210 RMB[63]. - There were no changes in the total number of shares or the share structure during the reporting period[68]. - No major guarantees or contracts were reported during the period[67][69]. - The company did not disclose any new products or technologies in the half-year report[68]. - There were no significant changes in the financial relationships with related parties[67]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the enterprise accounting standards and reflect the company's financial status accurately[119]. - The company has included its subsidiaries in the consolidated financial statements, with a direct ownership of 100% in all subsidiaries listed[114]. - The accounting period for the company runs from January 1 to December 31 each year[120]. - The company will include the revenue, expenses, and profits of newly acquired subsidiaries in the consolidated profit statement from the acquisition date to the end of the reporting period[127]. - The consolidated cash flow statement will reflect cash flows from the acquired subsidiaries from the acquisition date to the end of the reporting period[127]. - The company will not adjust the beginning balances of the consolidated balance sheet for newly acquired subsidiaries under non-common control[128]. - Unrealized internal transaction profits from asset sales between subsidiaries will be fully offset against the net profit attributable to the parent company[129]. - The company will adjust capital reserves (capital surplus) for the difference between the purchase price of minority shares and the net asset share of the subsidiary from the acquisition date[131]. Employee Compensation and Benefits - The company calculates and recognizes liabilities for post-employment benefits based on actuarial assumptions and discount rates[194]. - Changes in the net liability or asset of defined benefit plans are directly recorded in other comprehensive income and cannot be reversed in subsequent periods[195]. - The company provides severance benefits to employees, recognizing the related employee compensation liability when the severance benefits cannot be unilaterally withdrawn or when costs related to restructuring are confirmed[196]. - Other long-term employee benefits are measured at the present value of the total contributions payable, in accordance with the established funding plan[198]. - The company recognizes employee compensation costs for other long-term employee benefits at the end of the reporting period, including service costs and interest on net liabilities or assets[198].

Financial Performance - Operating revenue increased by 369.24% to CNY 100,654,908.69 compared to the same period last year[6] - Net profit attributable to shareholders increased by 164.76% to CNY 17,541,702.50 compared to the same period last year[6] - Basic earnings per share increased by 164.77% to CNY 0.1585 compared to the same period last year[6] - The weighted average return on equity increased by 3.69 percentage points to 1.41% compared to the same period last year[6] - The net profit for Q1 2021 was CNY 17,541,702.50, a turnaround from a net loss of CNY 27,087,180.45 in Q1 2020[36] - The company reported a total profit of CNY 24,353,539.71 for Q1 2021, contrasting with a total loss of CNY 35,631,010.26 in Q1 2020[35] Cash Flow and Liquidity - Net cash flow from operating activities improved by 86.23% to CNY -10,931,497.60 compared to the same period last year[6] - Cash received from operating activities was CNY 97.91 million, a 372.90% increase compared to CNY 20.70 million in the previous year[13] - Cash flow from operating activities in Q1 2021 was CNY 97,913,062.87, a substantial increase from CNY 20,704,786.51 in Q1 2020[39] - The net cash flow from operating activities was CNY 3,965,153.07, compared to a net outflow of CNY 66,992,495.75 in the same period last year, indicating a turnaround in cash generation[43] - The company’s cash and cash equivalents at the end of Q1 2021 stood at CNY 44,907,544.56, down from CNY 54,658,799.15 at the end of Q1 2020, indicating a decrease in liquidity[44] - The company experienced a net decrease in cash and cash equivalents of CNY 86,968,027.10 in Q1 2021, compared to a decrease of CNY 81,705,897.46 in Q1 2020, suggesting ongoing cash management challenges[44] Assets and Liabilities - Total assets decreased by 1.16% to CNY 1,418,205,309.79 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 66.31% to CNY 51,641,030.30 due to the acquisition of 100% equity in a subsidiary[12] - The company's total assets amounted to approximately CNY 1.42 billion, a slight decrease from CNY 1.43 billion at the end of 2020[27] - The company's non-current assets totaled approximately CNY 960.77 million, up from CNY 860.38 million at the end of 2020, indicating growth in long-term investments[27] - Total liabilities decreased to CNY 206,065,430.56 from CNY 223,470,816.94, showing a reduction of about 7.8%[32] - Current liabilities decreased to CNY 147.51 million from CNY 180.12 million, showing an improvement in short-term financial obligations[27] Shareholder Information - The number of shareholders increased to 10,861, indicating a growing interest in the company[10] - The top shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., holds 32.63% of the shares[11] Operational Costs and Expenses - Operating costs amounted to CNY 59.11 million, reflecting a 35.95% increase from CNY 43.48 million in the same period last year, also influenced by the pandemic[13] - Sales expenses increased by 66.16% to CNY 5.66 million, primarily due to higher repair costs[13] - Management expenses rose by 37.10% to CNY 14.99 million, influenced by the addition of new subsidiaries and increased employee compensation[13] Future Outlook - In 2021, the company expects cumulative net profit to potentially increase compared to the same period last year due to the recovery of domestic tourism demand following the COVID-19 pandemic[22] - The company acknowledges the uncertainty in its profit forecasts due to the ongoing impact of the pandemic and advises investors to be cautious[22]

Financial Performance - The company achieved a net profit of ¥54,549,591.87 for the year 2020, with a statutory surplus reserve of ¥4,251,560.56, resulting in an undistributed profit of ¥50,298,031.31[3]. - The total undistributed profit accumulated over the years amounts to ¥696,286,212.99[3]. - The company's operating revenue for 2020 was ¥341,043,065.16, a decrease of 36.52% compared to ¥537,219,493.88 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥54,549,591.87, down 53.39% from ¥117,024,146.11 in 2019[20]. - The basic earnings per share for 2020 was ¥0.49, a decline of 53.77% compared to ¥1.06 in 2019[20]. - The net cash flow from operating activities for 2020 was ¥94,391,328.66, a decrease of 57.95% from ¥224,483,668.41 in 2019[20]. - The company reported a weighted average return on equity of 4.49% in 2020, down 5.69 percentage points from 10.18% in 2019[20]. - The net profit after deducting non-recurring gains and losses for 2020 was ¥40,784,711.25, a decrease of 61.89% from ¥107,009,435.27 in 2019[20]. - The total assets at the end of 2020 were ¥1,434,839,417.77, a slight decrease of 0.46% from ¥1,441,498,993.32 at the end of 2019[20]. - The company's net assets attributable to shareholders increased by 2.60% to ¥1,231,624,160.24 at the end of 2020 from ¥1,200,375,260.31 at the end of 2019[20]. Dividend and Shareholder Information - The board proposed a cash dividend of ¥1.50 per 10 shares, totaling ¥16,602,000 to be distributed to shareholders[3]. - The company has a total of 11,068,000 shares outstanding, which serves as the basis for the proposed dividend distribution[3]. - The total number of ordinary shareholders at the end of the reporting period was 10,330, a decrease from 10,861 at the end of the previous month[120]. - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group, holds 36,109,376 shares, representing 32.63% of the total shares[121]. - Anhui High-tech Industry Investment Co., Ltd. is the second-largest shareholder with 16,267,338 shares, accounting for 14.70%[121]. Operational Highlights - The company operates multiple subsidiaries, including transportation and hotel services, enhancing its service offerings in the tourism sector[10]. - The company operates six hotels and three cable car services, maintaining a dominant position in the local mid-to-high-end market[27]. - The company operates six travel agencies, leveraging local tourism resources to develop stable customer sources and marketing networks[30]. - The company has exclusive rights for passenger transport within the scenic area, providing a stable income source[31]. - The company has developed an online tourism platform, "JiuHua Tourism 603199," which has rapidly grown and serves as a comprehensive service platform for regional tourism[30]. Risk Management and Compliance - The company emphasizes the importance of risk awareness in its forward-looking statements, urging investors to pay attention to investment risks[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[5]. - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[5]. - There are no violations of decision-making procedures regarding external guarantees[6]. - The company is committed to maintaining a safe environment for tourists and employees, adhering to strict safety production responsibilities[76]. Cost Management - Total cost for the tourism service industry decreased by 28.91% from the previous year, amounting to ¥196,370,015.45[3]. - Hotel business costs were ¥115,392,217.84, representing 58.76% of total costs, down 22.83% year-over-year[3]. - The company reported a significant decrease in travel agency costs by 60.50%, amounting to ¥15,898,784.03[3]. - Sales expenses decreased by 28.71% to ¥20,218,660.89 from ¥28,362,609.87 in the previous year[53]. - Management expenses were reduced by 22.41% to ¥59,059,631.77 compared to ¥76,114,821.77 in the previous year[53]. Future Outlook and Strategic Initiatives - In 2021, the company aims to achieve an operating income of 430 million CNY and a net profit of 70 million CNY[72]. - The company is focusing on product innovation and enhancing brand quality to navigate the challenges posed by the pandemic[34]. - The company is actively exploring high-quality tourism resources in the Chizhou area to prepare for future all-domain tourism destination development[41]. - The company plans to enhance its transportation services and improve public infrastructure to elevate visitor experience[74]. - The company is committed to sustainable development through project investments, including the Five Streams Mountain Resort project[74]. Social Responsibility and Community Engagement - The company has committed to a poverty alleviation fund of 30,000 yuan to support local development initiatives[109]. - The company is actively participating in the "Thousand Enterprises Help Thousand Villages" initiative, focusing on integrating its resources with local advantages[108]. - The company donated 1.5 million yuan to support the frontline of the COVID-19 pandemic in Chizhou, reflecting its commitment to social responsibility and community support[114]. - The company has a commitment to social responsibility, actively engaging in community support and development[111]. Governance and Management - The company has established a comprehensive transportation network, solving the "last mile" issue for tourists[68]. - The company has established a complete corporate governance structure to ensure operational independence[88]. - The company operates independently from its controlling shareholder in terms of business, personnel, assets, and finances[153]. - The management team has extensive experience in various sectors, contributing to the company's strategic direction[136]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 549.73 million[134].

Financial Performance - Operating revenue for the first nine months was CNY 205,604,939.95, down 50.72% year-on-year[5] - Net profit attributable to shareholders for the first nine months was CNY 12,481,070.42, a decline of 88.36% compared to the same period last year[5] - Cash flow from operating activities for the first nine months was CNY 5,632,951.59, a significant decrease of 96.31% year-on-year[5] - Basic earnings per share for the reporting period were CNY 0.1128, down 88.36% from CNY 0.9687 in the previous year[7] - Total operating revenue for Q3 2020 was CNY 128,678,174.74, a slight increase from CNY 126,944,489.86 in Q3 2019, representing a growth of 1.0%[32] - Net profit for Q3 2020 was CNY 43,935,102.52, compared to CNY 26,619,315.61 in Q3 2019, reflecting an increase of 65.0%[33] - The company reported a total profit of CNY 58,797,365.76 for Q3 2020, up from CNY 35,673,426.81 in Q3 2019, an increase of 64.8%[33] - The total profit for Q3 2020 was CNY 49,345,588.37, up from CNY 31,294,951.44 in Q3 2019, reflecting an increase of approximately 57.7%[36] Asset and Liability Overview - Total assets at the end of the reporting period were CNY 1,376,936,686.71, a decrease of 4.48% compared to the end of the previous year[5] - Current assets totaled CNY 502,697,326.49, down from CNY 535,788,197.10, indicating a decrease of about 6.2%[25] - Non-current assets totaled CNY 874,239,360.22, down from CNY 905,710,796.22, a decline of about 3.5%[26] - Total liabilities decreased to CNY 187,566,315.45 from CNY 241,123,733.01, a reduction of approximately 22.2%[27] - The company's cash and cash equivalents dropped to CNY 47,688,378.80 from CNY 170,958,714.06, a decrease of about 72.1%[25] - Total liabilities decreased from CNY 225,814,343.47 in the previous year to CNY 202,379,059.32, a decline of 10.4%[32] - Total equity attributable to shareholders decreased to CNY 1,189,370,371.26 from CNY 1,200,375,260.31, a decline of approximately 0.9%[27] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,064[10] - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., held 32.63% of the shares[10] Government Support and Subsidies - The company reported a government subsidy of CNY 4,395,580.34 for the first nine months[6] - Other income rose by 345.95%, from RMB 1,576,235.97 to RMB 7,029,301.21, mainly due to increased government subsidies received[13] Operational Challenges and Strategic Initiatives - The company predicts a significant decline in cumulative net profit compared to the same period last year due to the impact of COVID-19, with government measures limiting travel and visitor numbers[21] - The company plans to strengthen market promotion, strictly control costs, and seek favorable policy support to mitigate the adverse effects of the pandemic[21] - The company maintains that the long-term core competitiveness will not be significantly affected by the pandemic, as domestic tourism demand is expected to recover gradually[21] - The company acknowledges the uncertainty in its financial outlook and advises investors to be aware of potential risks[21] Cash Flow and Investment Activities - The net cash flow from operating activities for the first three quarters of 2020 was ¥5,632,951.59, a significant decrease of 96.3% compared to ¥152,679,638.35 in the same period of 2019[40] - Total cash inflow from investment activities was ¥671,341,367.06, up 120.4% from ¥304,369,995.56 in the first three quarters of 2019[41] - The net cash flow from investment activities was -¥104,553,656.21, worsening from -¥77,628,667.02 in the same period last year[41] - The total cash outflow from investment activities was ¥775,895,023.27, an increase of 103.6% compared to ¥381,998,662.58 in the previous year[41] Financial Independence and Governance - The company assures that it will avoid substantial competition with its controlling entities and maintain independent operations[19] - The company commits to ensuring the independence of its financial operations, including separate bank accounts and independent financial decision-making[19] - The company emphasizes the importance of maintaining independent assets and operations, ensuring that all assets are under its control[19]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥76,926,765.21, a decrease of 73.50% compared to ¥290,299,962.67 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥31,454,032.10, a decline of 139.03% from ¥80,597,488.62 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥36,548,652.37, down 147.47% from ¥76,989,917.46 in the same period last year[19]. - The net cash flow from operating activities was -¥78,381,835.63, a decrease of 182.11% compared to ¥95,457,067.72 in the previous year[19]. - Basic earnings per share for the first half of the year were -0.2842 CNY, a decrease of 139.03% compared to 0.7282 CNY in the same period last year[20]. - Diluted earnings per share also reported at -0.2842 CNY, reflecting a 139.03% decline year-over-year[20]. - The weighted average return on equity decreased by 9.71 percentage points to -2.65% from 7.06% in the previous year[20]. - The company reported a total of 5,094,620.27 CNY in non-recurring gains and losses, with significant contributions from government subsidies and investment management fees[22][23]. - The company reported a significant increase in sales expenses, totaling CNY 8,667,093.63 in the first half of 2020, compared to CNY 12,029,689.61 in the same period of 2019[97]. - The company experienced a credit impairment loss of CNY -275,594.32 in the first half of 2020[94]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥1,145,139,580.65, a decrease of 4.60% from ¥1,200,375,260.31 at the end of the previous year[19]. - Total assets at the end of the reporting period were ¥1,335,174,895.62, down 7.38% from ¥1,441,498,993.32 at the end of the previous year[19]. - The company's cash and cash equivalents were RMB 65,635,590.09, down from RMB 170,958,714.06, representing a decline of approximately 61.61%[84]. - Accounts receivable increased by 137.28% to ¥4,461,378.00, compared to ¥1,880,182.70 in the previous year, indicating sales amounts not yet collected[43]. - The total liabilities decreased to RMB 335,654,083.97 from RMB 440,063,835.01, reflecting a decline of about 23.69%[85]. - The total owner's equity at the end of the reporting period is RMB 1,039,215,264.74, which includes a capital reserve of RMB 331,814,971.46 and an undistributed profit of RMB 73,176,766.16[119]. Operational Strategies - The company has implemented a "JiuHua Tong" WeChat mini-program to enhance visitor tracking and safety during the pandemic[34]. - The company has launched various innovative products, including a food delivery service and themed hotel offerings, to adapt to changing consumer demands post-pandemic[35]. - The company is actively expanding its project construction, including the upgrade of the Wuxi Mountain Color Hotel and the development of a cultural tourism resort[39]. - The company has strengthened its internal management and cost control measures to improve operational efficiency and ensure stable development[37]. - The company has shifted its marketing strategy to leverage online channels and social media for promoting its services and products[35]. - The company plans to focus on market expansion and new product development to recover from the current financial downturn[96]. Shareholder and Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[4]. - The company has a three-year dividend return plan for shareholders from 2020 to 2022, indicating a commitment to shareholder value[54]. - The company has made commitments regarding the avoidance of competition with its controlling shareholder, ensuring no conflicts of interest arise[57]. - The company guarantees the independence of its management team, ensuring that senior executives do not hold positions in related enterprises beyond board roles[61]. - The company has established an independent financial department and accounting system, ensuring compliance with tax obligations and independent financial decision-making[59]. Market Conditions and Risks - The ongoing COVID-19 pandemic has led to a substantial decrease in consumer demand for travel, significantly impacting the company's performance[49]. - The company anticipates a significant decline in cumulative net profit for the year due to the impact of COVID-19, with expectations of a recovery in the tourism market once the pandemic is under control[47]. - The company faces risks from macroeconomic conditions, which could adversely affect consumer confidence and tourism spending[48]. - The company is also concerned about capacity constraints at tourist sites, which could affect operational sustainability during peak seasons[50]. Compliance and Transparency - The company has not reported any ongoing related party transactions with its controlling shareholder as of the date of the report[57]. - The company has not issued any non-standard audit reports, reflecting sound financial practices[64]. - The company has no major related party transactions that have not been disclosed, indicating transparency in operations[65]. - The financial statements prepared by the company comply with the requirements of the accounting standards, reflecting the true financial position and operating results[126]. Community Engagement and Environmental Responsibility - The company has been actively participating in poverty alleviation efforts, being designated as a partner for poverty alleviation in San Yi Village, Qingyang County, and utilizing its resources to support local development[69]. - The company has maintained its commitment to environmental protection, adhering to national environmental laws and regulations while actively implementing various environmental measures[71].

Financial Performance - Net profit attributable to shareholders was CNY -27,087,180.45, a decrease of 169.89% year-on-year[5] - Operating revenue fell by 83.97% to CNY 21,450,671.22 compared to the same period last year[5] - Basic earnings per share were CNY -0.2447, down 169.89% from CNY 0.3501 in the previous year[5] - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to the impact of COVID-19, with government restrictions affecting travel and tourism demand[18] - In Q1 2020, the company reported a net profit loss of CNY 23,209,285.86 compared to a net profit of CNY 28,006,149.54 in Q1 2019, representing a year-over-year decline of 182.9%[33] - The company reported a total profit loss of CNY 30,600,334.11 in Q1 2020, compared to a profit of CNY 37,696,739.21 in Q1 2019[33] - Total operating revenue for Q1 2020 was ¥21,450,671.22, a decrease of 84.0% compared to ¥133,842,601.38 in Q1 2019[29] - Operating profit for Q1 2020 was a loss of ¥34,134,090.73, compared to a profit of ¥52,183,121.48 in Q1 2019[30] Cash Flow and Assets - Net cash flow from operating activities was CNY -79,361,779.08, a decline of 532.86% year-on-year[5] - Cash and cash equivalents decreased by 55.36% to CNY 76,318,731.36 compared to the beginning of the period[10] - The cash and cash equivalents at the end of Q1 2020 were CNY 76,318,731.36, a decrease from CNY 170,958,714.06 at the beginning of the quarter[36] - The company experienced a total cash outflow from operating activities of CNY 101,636,219.34 in Q1 2020, compared to CNY 113,940,922.88 in Q1 2019[35] - Investment activities resulted in a net cash outflow of CNY 15,278,172.98 in Q1 2020, an improvement from a net outflow of CNY 19,644,490.59 in Q1 2019[36] - Total assets decreased by 6.50% to CNY 1,347,787,799.10 compared to the end of the previous year[5] - Current assets totaled CNY 447,407,147.62, down from CNY 535,788,197.10, indicating a decrease of about 16.4%[21] - Total liabilities decreased to CNY 174,175,855.53 from CNY 241,123,733.01, a reduction of about 27.8%[23] Shareholder Information - The total number of shareholders was 10,926 at the end of the reporting period[8] - The top three shareholders held a combined 61.79% of the shares, indicating significant ownership concentration[9] - The company’s major shareholder, Anhui Jiuhua Mountain Cultural Tourism Group, intends to hold shares long-term and will limit any share reduction to no more than 3% of total shares within two years after the lock-up period[16] Operational Adjustments and Future Outlook - The company plans to strengthen market promotion, strictly control costs, and seek favorable policy support to mitigate the adverse effects of the pandemic[18] - Long-term, the company expects that the pandemic will not have a major negative impact on its core competitiveness, with potential recovery in tourism demand once the situation improves[18] - The company is prepared for a potential recovery in the tourism sector, which may lead to a release of pent-up demand once the pandemic is under control[18] Financial Management and Compliance - The company has committed to maintaining the independence of its operations, including financial independence and asset control, to ensure the integrity of its business[16] - The company has established a complete financial accounting system to ensure independent financial operations and compliance with tax obligations[16] - The company emphasizes the importance of adhering to market principles and fair pricing in all transactions to protect its interests and those of its shareholders[16] - The company is focused on maintaining its financial health without the impact of new accounting standards[46] - There were no adjustments made to prior comparative data, ensuring clarity in financial reporting[46]