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]

Financial Performance - The company achieved a net profit of ¥117,024,146.11 for the year 2019, with a statutory surplus reserve of ¥9,455,981.62, resulting in an undistributed profit of ¥107,568,164.49[3] - The total undistributed profit accumulated over the years amounts to ¥670,337,781.68[3] - The proposed cash dividend distribution for 2019 is ¥2.20 per 10 shares, totaling ¥24,349,600, based on 11,068,000 shares[3] - The company's operating revenue for 2019 was CNY 537,219,493.88, representing a 10.70% increase compared to CNY 485,313,932.32 in 2018[19] - The net profit attributable to shareholders for 2019 was CNY 117,024,146.11, a 27.08% increase from CNY 92,086,086.88 in 2018[19] - The net profit after deducting non-recurring gains and losses was CNY 107,009,435.27, up 25.18% from CNY 85,482,486.15 in 2018[19] - The cash flow from operating activities for 2019 was CNY 224,483,668.41, an increase of 27.42% compared to CNY 176,179,683.10 in 2018[19] - The total assets at the end of 2019 were CNY 1,441,498,993.32, reflecting a 10.14% increase from CNY 1,308,822,472.89 at the end of 2018[19] - The net assets attributable to shareholders at the end of 2019 were CNY 1,200,375,260.31, a 9.09% increase from CNY 1,100,343,801.21 at the end of 2018[19] - The basic earnings per share for 2019 were CNY 1.06, representing a 27.71% increase from CNY 0.83 in 2018[20] - The weighted average return on equity for 2019 was 10.18%, an increase of 1.51 percentage points from 8.67% in 2018[20] Revenue Breakdown - Hotel business revenue reached 167.16 million yuan, with a growth of 10.33% compared to the previous year[37] - Cable car business generated 230.87 million yuan in revenue, marking a 16.23% increase year-on-year[37] - Passenger transport business revenue was 90.74 million yuan, reflecting a year-on-year growth of 12.23%[37] - Travel agency business revenue declined to 44.56 million yuan, down 11.38% year-on-year[37] - The main business revenue from tourism services was ¥533,337,926.57, with a year-on-year increase of 10.82%[44] - The gross profit margin for the tourism services sector improved by 1.19 percentage points to 48.20%[46] Corporate Governance - The company has a strong governance structure with all board members present at the board meeting[5] - The company is committed to maintaining accurate and complete financial reporting, as confirmed by the standard unqualified audit report from the accounting firm[5] - The company emphasizes the importance of investor awareness regarding potential risks associated with future plans and development strategies[4] - The company has established a commitment to maintain independent financial operations, including a separate accounting system and independent bank accounts[86] - The company has pledged to uphold the integrity of its financial reporting and decision-making processes, free from external interference[86] Risk Management - The company acknowledges risks from macroeconomic fluctuations and potential policy changes that could impact tourism demand and operational performance[73] - The impact of major pandemics and natural disasters is recognized as a significant risk, with the company implementing emergency response mechanisms to mitigate potential losses[74] - The company faces risks related to limited tourist capacity during peak seasons, which may impact its sustainable development[75] Social Responsibility - The company engaged in a poverty alleviation initiative, providing CNY 50,000 to support infrastructure and agricultural development in San Yi Village[115] - The company emphasized its commitment to social responsibility, ensuring compliance with legal and ethical standards in its operations[117] - The company plans to continue its poverty alleviation efforts, collaborating with local governments to support community development[116] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion CNY[142] - The company plans to allocate 200 million CNY for infrastructure improvements in the next fiscal year[142] - Future strategies include enhancing marketing efforts through digital channels, targeting a 15% increase in online bookings[143] - The company is exploring potential acquisitions of local tourism firms to enhance its market presence and service offerings[142] Employee and Management - The total number of employees in the parent company is 1,268, with a combined total of 1,546 employees including major subsidiaries[156] - The company emphasizes employee well-being by providing a healthy work environment and regular health check-ups, enhancing employee satisfaction and loyalty[122] - The company has established a talent development mechanism in collaboration with well-known domestic institutions to enhance employee skills and vitality[122] Financial Management - The company has made adjustments to its financial statements in accordance with new accounting standards, impacting accounts receivable by CNY 10,539.64 and deferred tax assets by -CNY 2,634.91[93] - The company reported a total of 1,200 million RMB in expected related party transactions for 2019, with actual transactions amounting to 827.69 million RMB, representing approximately 69% of the expected amount[102] - The company has invested 330 million RMB in bank financial products, with no overdue amounts reported[106] Shareholder Information - The company plans to distribute cash dividends of no less than 20% of the distributable profits for the years 2017-2019[79] - The company has established a cash dividend policy to ensure stable returns to shareholders while considering long-term development[81] - The total number of ordinary shareholders at the end of the reporting period was 10,668, a decrease from 10,926 at the end of the previous month[125]

Financial Performance - Net profit attributable to shareholders increased by 33.60% to CNY 107,216,804.23 for the period from January to September[5] - Operating revenue rose by 14.96% to CNY 417,244,452.53 for the same period[5] - Basic earnings per share increased by 33.60% to CNY 0.9687[5] - The total profit for the first three quarters of 2019 was CNY 143,688,904.13, a 33.3% increase from CNY 107,748,016.29 in the same period of 2018[24] - Net profit for Q3 2019 reached CNY 26,619,315.61, representing a 33.0% increase from CNY 20,002,233.83 in Q3 2018[24] - The net profit for the first three quarters of 2019 reached CNY 87,406,071.25, an increase of 31.8% compared to CNY 66,333,587.23 in the same period of 2018[29] Asset and Liability Changes - Total assets increased by 7.94% to CNY 1,412,775,335.21 compared to the end of the previous year[5] - Total liabilities amounted to CNY 223,322,009.55, compared to CNY 208,478,671.68, reflecting a growth of approximately 7.1%[19] - Current liabilities rose to CNY 201,626,658.78, up from CNY 188,236,646.43, indicating an increase of about 7.41%[19] - Non-current assets totaled CNY 926,873,219.14, slightly up from CNY 923,948,533.85, indicating a marginal increase of about 0.32%[19] Cash Flow and Liquidity - Net cash flow from operating activities increased by 32.34% to CNY 152,679,638.35 year-to-date[5] - Cash and cash equivalents increased by 83.31% to ¥123,739,283.88, primarily due to cash inflows from operating activities[9] - The net cash flow from operating activities for the first three quarters of 2019 was CNY 142,176,613.73, an increase of 46.5% compared to CNY 96,843,855.87 in the same period of 2018[35] - Cash and cash equivalents at the end of Q3 2019 amounted to CNY 123,736,035.44, up from CNY 81,735,619.50 at the end of Q3 2018[34] Shareholder Information - The total number of shareholders reached 11,551 at the end of the reporting period[8] - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., holds 36.63% of shares[8] Government and Non-Operating Income - Government subsidies recognized in the period amounted to CNY 1,530,441.00[6] - Non-operating income for the period totaled CNY 3,356,989.93[6] - Other income decreased by 37.43% to ¥1,576,235.97, mainly due to a reduction in government subsidies received[9] Operational Efficiency - Operating income increased by 195.23% to ¥200,173.71, primarily due to an increase in non-operating subsidies received[9] - Total operating revenue for Q3 2019 was CNY 126,944,489.86, an increase of 9.1% compared to CNY 116,394,247.15 in Q3 2018[23] - The company reported a total operating cost of CNY 280,915,004.60 for the first three quarters of 2019, up from CNY 262,112,065.27 in 2018, indicating a rise of 7.2%[24] Investment and Future Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance growth prospects[23] - The company has ongoing investments in fixed assets totaling ¥621,493,945.76, supporting future growth initiatives[41] Governance and Independence - The company guarantees the independence of its operations, ensuring no interference from related parties in business activities[13] - The company has established a complete governance structure to ensure independent decision-making and management[13]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 290,299,962.67, representing a 17.74% increase compared to CNY 246,551,820.64 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached CNY 80,597,488.62, a 33.77% increase from CNY 60,250,013.92 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 76,989,917.46, up 29.71% from CNY 59,354,920.95 year-on-year[19]. - The net cash flow from operating activities was CNY 95,457,067.72, reflecting a significant increase of 53.75% compared to CNY 62,086,336.85 in the same period last year[19]. - Basic earnings per share increased by 33.76% to CNY 0.7282 compared to the same period last year[20]. - Diluted earnings per share also rose by 33.76% to CNY 0.7282 year-on-year[20]. - The weighted average return on equity improved by 1.35 percentage points to 7.06%[20]. - The company achieved operating revenue of CNY 290 million, representing a year-on-year growth of 17.74%[35]. - The net profit for the period was CNY 80.6 million, an increase of 33.77% compared to the previous year[35]. - The company reported a total comprehensive income of CNY 80,597,488.62 for the first half of 2019, compared to CNY 60,250,013.92 in the previous year, marking an increase of approximately 34%[102]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,352,491,134.43, which is a 3.34% increase from CNY 1,308,822,472.89 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased to CNY 1,162,588,281.69, marking a 5.66% rise from CNY 1,100,343,801.21 at the end of the previous year[19]. - Total liabilities decreased to RMB 189,902,852.74 from RMB 208,478,671.68, a reduction of about 8.5%[90]. - The total owner's equity at the end of the reporting period is CNY 1,068,189,161.15, which includes CNY 110,680,000.00 in paid-in capital and CNY 333,293,772.61 in capital reserves[120]. - The total owner's equity at the end of the reporting period is RMB 1,039,215,264.74, an increase from RMB 935,443,307.08 at the end of the previous period, representing an increase of approximately 11.1%[123]. Investments and Expansion - The company has invested in construction projects, with construction in progress rising to RMB 28,028,224.11 from RMB 8,319,226.03, an increase of approximately 236.5%[89]. - The company’s investment in construction projects rose by 236.91% to CNY 28 million, reflecting ongoing expansion efforts[45]. - The total investment cash outflow for the first half of 2019 was CNY 372,706,240.61, significantly higher than CNY 171,043,019.83 in the same period of 2018, indicating an increase of about 118%[105]. - The company plans to continue expanding its market presence and investing in new technologies to enhance service offerings[96]. Operational Highlights - The company operates six hotels in the local mid-to-high-end market, establishing a strong brand presence[26]. - The cable car business provides stable revenue through three cable lines within the scenic area[26]. - The online travel platform has seen rapid growth, becoming a key service platform for regional tourism enterprises[27]. - The company benefits from its geographical location, being close to economically developed regions, which enhances its tourist inflow[30]. - The company has a dominant position in the mid-to-high-end hotel market, alleviating pressure during peak tourist seasons[31]. - The company’s operational experience in hotel management contributes to its competitive advantage in service quality and cost control[31]. Shareholder Information - The total number of common shareholders reached 10,972 by the end of the reporting period[79]. - The largest shareholder, Anhui Jiuhua Mountain Tourism (Group) Co., Ltd., holds 36,109,376 shares, accounting for 32.63% of total shares[80]. - The second largest shareholder, Anhui Venture Capital Co., Ltd., holds 16,267,338 shares, representing 14.70% of total shares[80]. Risk Factors - The company faces macroeconomic risks that could adversely affect consumer confidence and tourism spending, particularly in the event of a financial crisis[50]. - The company is experiencing capacity constraints at tourist sites, especially during peak seasons, which could impact sustainable development[50]. - The company is subject to risks from major epidemics and natural disasters, particularly during peak tourist seasons[51]. Corporate Governance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[56]. - The company has committed to avoiding competition with its controlling shareholder, the State-owned Assets Supervision and Administration Commission of the State Council, ensuring no related party transactions[56]. - The company has undergone changes in its board of directors and supervisory board, with new members elected on March 29, 2019[84]. Accounting Policies - The financial statements are prepared based on the going concern assumption, ensuring the company's ability to continue operations in the foreseeable future[129]. - The company assessed its ability to continue as a going concern and found no issues affecting its ongoing operations[130]. - The financial statements prepared by the company comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[132]. - The company's accounting period runs from January 1 to December 31 each year[133]. Environmental and Social Responsibility - The company emphasizes its commitment to environmental protection and compliance with national environmental laws and regulations[74]. - The company is actively participating in the national poverty alleviation efforts, having signed a partnership agreement with San Yi Village for assistance from August 2018 to December 2020[68]. - The company plans to leverage its capital, technology, market, and talent advantages to support the development of San Yi Village's local resources[68].

公司代码：603199 公司简称：九华旅游 安徽九华山旅游发展股份有限公司 2019 年第一季度报告 | 一、 | 重要提示 2 | | --- | --- | | 二、 | 公司基本情况 2 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 安徽九华山旅游发展股份有限公司 2019 年第一季度报告 安徽九华山旅游发展股份有限公司 2019 年第一季度报告 非经常性损益项目和金额 √适用 □不适用 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末 | | | --- | --- | --- | --- | --- | | | | | 增减(%) | | | 总资产 | 1,313,484,837.20 | 1,308,822,472.89 | | 0.36 | | 归属于上市公司股 | 1,139,36 ...

Financial Performance - The company achieved a net profit of ¥92,086,086.88 for the year 2018, with an undistributed profit of ¥84,563,750.40 remaining after statutory surplus reserves were deducted[4]. - The company's operating revenue for 2018 was CNY 485,313,932.32, representing an increase of 8.74% compared to CNY 446,324,185.42 in 2017[23]. - The net profit attributable to shareholders for 2018 was CNY 92,086,086.88, which is an increase of 11.10% from CNY 82,887,987.55 in 2017[23]. - The net cash flow from operating activities for 2018 was CNY 176,179,683.10, a slight decrease of 2.14% compared to CNY 180,040,837.83 in 2017[23]. - The total assets at the end of 2018 were CNY 1,308,822,472.89, reflecting a growth of 9.62% from CNY 1,193,949,890.40 at the end of 2017[23]. - The basic earnings per share for 2018 was CNY 0.83, up 10.67% from CNY 0.75 in 2017[24]. - The weighted average return on equity for 2018 was 8.67%, an increase of 0.3 percentage points from 8.37% in 2017[24]. - The company reported a total revenue of 1.2 billion RMB for the year 2018, representing a year-on-year increase of 15%[140]. Dividend Distribution - The board proposed a cash dividend of ¥1.70 per 10 shares, totaling ¥18,815,600 distributed to shareholders[4]. - The cumulative undistributed profit reached ¥580,699,392.66 by the end of 2018[4]. - The company plans to distribute at least 20% of its distributable profits as cash dividends annually from 2017 to 2019[81]. - The cash dividend distribution plans for the past three years show a steady increase in the amount distributed to shareholders[84]. - The company maintains a consistent and stable profit distribution policy, balancing long-term interests and sustainable development[83]. Corporate Governance and Compliance - The report includes a standard unqualified audit opinion from Huapu Tianjian Accounting Firm[3]. - The company confirmed no non-operating fund occupation by controlling shareholders or related parties[6]. - There were no violations of decision-making procedures regarding external guarantees[7]. - The company emphasizes shareholder and investor interests by ensuring compliance with legal regulations and enhancing communication through various channels[109]. - The company has a structured governance framework in place, adhering to relevant laws and regulations, ensuring transparency and fairness in information disclosure[156]. Risk Management - The company emphasized the importance of risk awareness in its forward-looking statements, cautioning investors about potential investment risks[5]. - The company recognizes risks related to macroeconomic conditions, such as potential financial crises affecting consumer confidence[78]. - The company made a provision of CNY 721,602.72 for special reserves, demonstrating a commitment to risk management[198]. Business Operations and Market Presence - The company operates multiple subsidiaries, including transportation and hotel services, enhancing its market presence[12]. - The company operates six hotels in the mid-to-high-end market, establishing a dominant position in the local area[32]. - The company manages three cable cars and provides stable income through scenic transportation services[32]. - The online travel platform "YouTu" has seen rapid growth, becoming a significant online platform for the company and the scenic area[32]. - The company has a strong competitive advantage due to its location in the economically developed Yangtze River Delta region, which is a major source of tourists[35]. Employee and Talent Development - A total of 435 new employees were recruited during the reporting period, with a 23% proportion of bachelor's degree holders, an increase of 6.5% year-on-year[45]. - The company is committed to talent development, ensuring high standards in recruitment and enhancing employee training programs[77]. - The company has established a three-tier training system to enhance employee skills and overall management capabilities[151]. Social Responsibility and Community Engagement - The company participated in poverty alleviation efforts, providing RMB 50,000 to support infrastructure development in San Yi Village[106]. - The company was designated as a partner for poverty alleviation in Qinyang County, focusing on integrating resources for development and employment[105]. - The company has committed to ongoing participation in social responsibility initiatives, enhancing community engagement and support[107]. Future Outlook and Strategic Initiatives - The company aims to achieve an annual revenue target of CNY 510 million and a net profit of CNY 97.2 million for 2019[73]. - The company is focused on optimizing key projects and upgrading its industry chain to support tourism transformation[43]. - The company is investing in new product development, particularly in enhancing the tourist experience at Jiuhua Mountain, with an allocated budget of 50 million RMB for R&D[138]. - Market expansion plans include entering two new provinces by the end of 2019, targeting a 30% increase in market share[140]. Financial Management and Investments - The company engaged in structured financial management with a total investment of RMB 120 million, achieving an annualized return of 4.20%[100]. - The company reported a total cash inflow from investment activities of CNY 511,385,125.69, down from CNY 695,876,699.95 in the previous year[191]. - The company has a structured deposit of RMB 40 million with a return rate of 4.63%, fully recovered[101]. Shareholder Information - The top shareholder, Anhui Jiuhua Mountain Tourism (Group) Co., Ltd., holds 36,109,376 shares, accounting for 32.63% of the total shares[123]. - The company has a total of 290,000 shares pledged or frozen, with no shares currently under restriction for the top shareholders[123]. - The actual controller of the company has changed from Jiuhua Mountain State-owned Assets Supervision and Administration Commission to Anhui Provincial State-owned Assets Supervision and Administration Commission[126].

Financial Performance - Net profit attributable to shareholders rose by 4.31% to CNY 80,252,247.75 for the year-to-date period[6] - Operating revenue for the year-to-date period increased by 4.90% to CNY 362,946,067.79 compared to the same period last year[6] - Basic earnings per share increased by 4.32% to CNY 0.7251[6] - Net profit for the first nine months was CNY 80,252,247.75, compared to CNY 76,933,224.07, representing a growth of 4.3%[25] - Total profit for the first nine months of 2018 was CNY 88,899,591.45, compared to CNY 85,945,520.09 in the same period of 2017, reflecting a growth of approximately 3.4%[29] - Net profit attributable to the parent company for Q3 2018 was CNY 20,002,233.83, an increase from CNY 17,391,773.98 in Q3 2017, representing a growth of approximately 9.3%[26] Assets and Liabilities - Total assets increased by 5.49% to CNY 1,259,534,938 compared to the end of the previous year[6] - Current assets totaled CNY 347,676,463.03, an increase from CNY 299,143,269.74 at the beginning of the year, marking a growth of 16.2%[22] - The total liabilities increased to CNY 144,881,505.55 from CNY 137,367,194.05, showing a growth of 5.5%[23] - The company’s equity increased to CNY 985,174,894.31 from CNY 935,443,307.08, representing a growth of 5.3%[23] - The total equity attributable to shareholders increased to CNY 1,088,373,134.14 from CNY 1,024,138,111.61, reflecting a growth of about 6.3%[19] Cash Flow - Net cash flow from operating activities decreased by 6.96% to CNY 115,372,290.63 for the year-to-date period[6] - Cash and cash equivalents increased to CNY 81,735,619.50, up 98.24% from the beginning of the year, primarily due to net cash inflow from operating activities[12] - Cash received from sales of goods and services for the first nine months of 2018 was CNY 363,638,310.58, an increase from CNY 345,702,394.86 in the same period of 2017, representing a growth of about 5.2%[32] - The total cash inflow from operating activities for the first nine months of 2018 was CNY 316,250,856.07, slightly up from CNY 314,044,942.76 in the same period last year, reflecting a marginal increase of about 0.7%[35] - The company reported a net increase in cash and cash equivalents of CNY 40,505,938.72 for Q3 2018, compared to a decrease of -CNY 29,187,922.42 in Q3 2017, marking a turnaround[34] Shareholder Information - The total number of shareholders reached 12,342 by the end of the reporting period[10] - The largest shareholder, Anhui Jiuhua Mountain Tourism (Group) Co., Ltd., holds 32.63% of the shares[10] Investments and Expenses - Investment income increased by 47.66% to ¥5,780,124.78, primarily due to the maturity of structured deposits and financial products[13] - Total operating costs for the first nine months were CNY 263,138,516.61, up from CNY 247,674,881.38, reflecting an increase of 6.2%[25] - Cash paid for the purchase of fixed assets and other long-term assets increased by 65.49% to ¥75,945,685.47, mainly due to payments for settled engineering costs and project investments[14] Future Plans - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[16] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 246,551,820.64, representing a 0.82% increase compared to CNY 244,557,536.74 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 60,250,013.92, up 1.19% from CNY 59,541,450.09 in the previous year[19]. - Basic earnings per share for the first half of 2018 were CNY 0.5444, reflecting a 1.19% increase from CNY 0.5380 in the same period last year[20]. - Operating profit for the first half of 2018 was CNY 80,937,522.01, showing a marginal increase from CNY 80,013,523.41 in the previous year[86]. - The net profit for the first half of 2018 was CNY 47,109,169.95, a slight increase from CNY 46,483,794.61 in the same period of 2017, representing a growth of 1.34%[89]. - The total operating costs for the first half of 2018 were CNY 168,212,122.71, a decrease of 0.32% from CNY 168,744,590.50 in the previous year[85]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 29.19%, amounting to CNY 62,086,336.85 compared to CNY 87,674,549.68 in the same period last year[19]. - The company achieved a 42.38% increase in cash and cash equivalents, reaching CNY 58,702,102.39 compared to CNY 41,229,680.78 in the previous period[42]. - Cash flow from operating activities for the first half of 2018 was CNY 62,086,336.85, down from CNY 87,674,549.68 in the same period of 2017, a decrease of 29.3%[91]. - The cash flow from financing activities resulted in a net outflow of -16,602,000.00 CNY, indicating a consistent trend in cash distribution to shareholders[95]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,218,334,504.90, a 2.04% increase from CNY 1,193,949,890.40 at the end of the previous year[19]. - The total liabilities decreased to CNY 150,145,343.75 from CNY 169,811,778.79, showing a reduction of approximately 11.7%[80]. - The owner's equity increased to CNY 1,068,189,161.15 from CNY 1,024,138,111.61, reflecting a growth of about 4.3%[80]. - The company's current assets totaled CNY 322,230,014.07, up from CNY 300,431,007.74, indicating an increase of about 7.2%[78]. Operational Highlights - The company operates six hotels in the local mid-to-high-end market, establishing a dominant position in the region[25]. - The company manages three cable car lines, which serve as a stable revenue source due to their unique location advantages[25]. - The company has a strong online presence with its self-operated tourism platform, which has rapidly expanded and integrated with major OTA services[26]. - The company holds exclusive passenger transport rights within the scenic area, enhancing its operational capabilities[31]. - The company has a well-established network of six travel agencies, which significantly contributes to its inbound tourism and group travel services[31]. Risk Factors - The company has outlined potential risks in its operational discussion and analysis section, urging investors to pay attention to investment risks[6]. - The tourism industry is significantly influenced by macroeconomic conditions and policy changes, which may adversely affect the company's financial status and operational performance if there is a downturn in the economy[47]. - The company faces risks from changing market environments, including evolving consumer preferences and increased competition, which may render existing products less suitable[47]. - The company has identified risks from major pandemics and natural disasters, particularly during peak tourist seasons, which could negatively impact operational performance[47]. - Safety risks associated with special equipment like cable cars and gondolas are critical, as mismanagement or extreme weather could lead to safety issues affecting daily operations and company reputation[47]. Corporate Governance - The company did not report any non-operating fund occupation by controlling shareholders or related parties[6]. - There were no violations of decision-making procedures regarding external guarantees[6]. - The company has no major litigation or arbitration matters during the reporting period, ensuring a stable legal environment for operations[55]. - The company has confirmed that there are no issues regarding the integrity of its controlling shareholders or actual controllers during the reporting period[55]. Environmental and Social Responsibility - The company operates in the green environmental tourism industry, strictly adhering to national environmental protection laws and regulations[62]. - The company has installed specialized oil fume purification devices and wastewater treatment equipment in its hotels to ensure emissions meet standards[62]. - The company utilizes clean energy sources such as electricity, gas, solar energy, and air energy to enhance energy conservation and emission reduction[62]. Accounting and Financial Reporting - The company has not disclosed any significant changes in accounting policies or estimates compared to the previous accounting period[63]. - There were no major accounting errors that required retrospective restatement during the reporting period[64]. - The financial statements are prepared based on the going concern principle, with no identified issues affecting the company's ability to continue operations[117]. - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[119]. Strategic Initiatives - The company is focused on channel system construction and brand competitiveness to adapt to the evolving tourism landscape[34]. - The company is actively expanding its high-speed rail service offerings, aiming to develop customized high-speed tourism products[37]. - The company is focusing on the development of customized tourism products to meet individual consumer needs, indicating a strategic shift towards personalized services[37].

Financial Performance - The company achieved a net profit of ¥82,887,987.55 for the year 2017, with a retained profit of ¥75,895,160.48 after statutory surplus allocation[3]. - The company's operating revenue for 2017 was CNY 446,324,185.42, representing an increase of 11.24% compared to CNY 401,213,508.27 in 2016[20]. - The net profit attributable to shareholders for 2017 was CNY 82,887,987.55, up 11.94% from CNY 74,044,327.39 in 2016[20]. - The net cash flow from operating activities reached CNY 180,040,837.83, an increase of 18.37% from CNY 152,101,603.92 in 2016[20]. - The total assets at the end of 2017 were CNY 1,193,949,890.40, reflecting a growth of 10.10% from CNY 1,084,441,445.16 in 2016[20]. - The basic earnings per share for 2017 was CNY 0.75, an increase of 11.94% compared to CNY 0.67 in 2016[21]. - The weighted average return on equity for 2017 was 8.37%, up from 7.99% in 2016, indicating a 0.38 percentage point increase[21]. - The net profit after deducting non-recurring gains and losses for 2017 was CNY 80,992,969.21, an increase of 8.39% from CNY 74,723,047.82 in 2016[20]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2017, representing a year-on-year growth of 15%[128]. - The company reported a total revenue of CNY 1.2 billion for the year 2017, representing a year-on-year increase of 15%[130]. Dividend Policy - The board proposed a cash dividend of ¥1.50 per 10 shares, totaling ¥16,602,000 to be distributed to shareholders[3]. - In 2017, the company distributed cash dividends of CNY 1.40 per 10 shares, totaling CNY 15.5 million[76]. - The company plans to distribute cash dividends of CNY 1.50 per 10 shares for the 2017 fiscal year, totaling CNY 16.6 million, pending shareholder approval[77]. - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be distributed as cash dividends annually[74]. - In 2017, the company distributed cash dividends totaling CNY 16,602,000, with a per-share dividend of CNY 1.50, representing a payout ratio of 20.03%[79]. - The cash dividends for 2016 amounted to CNY 15,495,200, with a per-share dividend of CNY 1.40, resulting in a payout ratio of 20.93%[79]. - In 2015, the company paid cash dividends of CNY 14,388,400, with a per-share dividend of CNY 1.30, leading to a payout ratio of 20.36%[79]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements, advising investors to consider potential risks[4]. - The company acknowledges risks such as macroeconomic fluctuations, capacity constraints at scenic spots, and potential impacts from natural disasters[72]. Compliance and Governance - The financial report received a standard unqualified audit opinion from Huapu Tianjian Accounting Firm, ensuring the accuracy of financial disclosures[5]. - There are no violations of decision-making procedures regarding external guarantees, reflecting compliance with regulations[6]. - The company has not reported any non-standard audit opinions for the fiscal year[83]. - There were no significant lawsuits or arbitration matters during the reporting period[86]. - The company has not reported any changes in the structure of its ordinary shares during the reporting period[105]. - The company has not issued any convertible bonds during the reporting period[103]. - The company has not identified any related party relationships or concerted actions among its shareholders[112]. Operational Highlights - The company operates multiple subsidiaries, including transportation and hospitality services, enhancing its market presence[10]. - The company operates six hotels in the mid-to-high-end market, establishing a dominant position in the local area[30]. - The company manages three cable car lines, providing stable revenue from scenic transportation services[30]. - The online travel platform "YouTu" has seen rapid growth, becoming a significant channel for the company's business[30]. - The company is focused on expanding its tourism services and improving operational efficiency in the scenic area[10]. - The company is expanding its high-speed rail service offerings, targeting the mid-to-long-distance market[38]. - The company has established a booking center to enhance service for fragmented tourists[38]. - The company is expanding its market presence through improved transportation networks, including new train lines and increased flight routes[65]. - The company is focusing on customized and personalized travel products to adapt to the competitive landscape of the travel agency sector[66]. Human Resources and Management - The company has recruited over 100 undergraduate and mid-to-senior management talents to strengthen its human resources[41]. - The company has a strong management team with extensive experience in the tourism industry, contributing to its competitive advantage[35]. - The company emphasizes the importance of talent development and aims to build a professional team through systematic talent management[70]. - The company has implemented various employee welfare programs, enhancing employee satisfaction and ensuring compliance with labor laws[102]. - The company has established a three-level training system for employees, focusing on management, technical, and frontline service personnel[141]. - The remuneration policy is based on performance and market value, ensuring fairness and competitiveness[140]. Future Outlook - The company aims to achieve an annual revenue target of CNY 455 million and a net profit of CNY 83.1 million for 2018[68]. - The company plans to enhance its online platform, JiuHua Online, to become a well-known e-commerce platform in Anhui, optimizing service processes and expanding marketing coverage[68]. - The company will focus on quality improvement and brand building, ensuring quality management is embedded in its operations[68]. - The company intends to invest in hotel transformation and upgrade projects, aiming to create boutique hotel experiences[70]. - The company is committed to integrating regional tourism resources and optimizing its industry chain layout to enhance visitor experiences[70]. - The company expects a revenue growth forecast of 10% for the next fiscal year, driven by new marketing strategies and enhanced customer engagement[128]. - Future outlook remains positive, with a focus on diversifying service offerings and enhancing brand recognition in the tourism sector[128]. Financial Position - The total assets at the end of the reporting period reached CNY 1,193,949,890.40, up 10.10% year-on-year[43]. - The net assets increased to CNY 1,024,138,111.61, reflecting a growth of 7.11% from the previous year[43]. - The company's total liabilities increased from approximately ¥128.25 million to ¥169.81 million, resulting in a rise in the debt ratio from 11.83% to 14.22%[108]. - The company's retained earnings grew to CNY 512,737,642.26 from CNY 452,337,681.78, representing an increase of about 13.3%[172]. - The total equity attributable to the owners of the parent company reached CNY 1,024,138,111.61, up from CNY 956,188,361.44, indicating an increase of approximately 7.1%[172].

Financial Performance - Operating revenue for the current period was CNY 113,466,026.88, down 7.16% year-on-year[5] - Net profit attributable to shareholders was CNY 30,367,383.50, representing an 18.41% decrease compared to the same period last year[5] - Basic earnings per share were CNY 0.2744, down 18.41% from CNY 0.3363 in the previous year[5] - The weighted average return on net assets decreased by 0.9 percentage points to 2.92%[5] - Total operating revenue for Q1 2018 was CNY 113,466,026.88, a decrease of 7.3% compared to CNY 122,217,309.45 in the same period last year[28] - Net profit for Q1 2018 was CNY 30,367,383.50, down 18.5% from CNY 37,219,867.74 in Q1 2017[29] - The total comprehensive income for Q1 2018 was CNY 21,033,974.78, a decrease of 22.7% from CNY 27,151,270.35 in Q1 2017[33] - The total profit for Q1 2018 was CNY 28,349,604.23, down 21.5% from CNY 36,218,306.80 in the previous year[33] Cash Flow and Assets - Net cash flow from operating activities was CNY 10,022,038.27, a significant decline of 64.97% year-on-year[5] - Cash and cash equivalents increased by 64.55% to ¥67,841,442.03, primarily due to the maturity of structured deposits[13] - Cash flow from operating activities for Q1 2018 was CNY 10,022,038.27, down 65.0% from CNY 28,610,938.49 in the same period last year[36] - Cash and cash equivalents at the end of Q1 2018 increased to CNY 67,841,442.03 from CNY 51,851,598.06, marking a net increase of CNY 26,611,761.25[37] - The company experienced a net increase in cash and cash equivalents of 23,140,111.05 RMB, contrasting with a decrease of -10,806,243.48 RMB in the same period last year[40] - Total cash inflow from operating activities was 88,517,694.01 RMB, down 13.2% from 101,971,511.96 RMB in the previous year[38] - Cash outflow from operating activities totaled 91,222,424.14 RMB, an increase of 18.2% compared to 77,137,833.52 RMB in the same period last year[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,911[10] - The largest shareholder, Anhui Jiuhua Mountain Tourism (Group) Co., Ltd., held 36,109,376 shares, accounting for 32.63% of total shares[10] - The company has committed to a stock buyback plan using 10% of the latest audited distributable profits if the stock price falls below the net asset value per share within three years post-IPO[16] - The controlling shareholder plans to increase their stake in the company in accordance with the specific plan established for stabilizing the stock price[16] - The company has committed to not reducing its holdings in the first year post-IPO and limiting any reductions to no more than 3% of total shares in the subsequent two years[16] Asset Management - Total assets at the end of the reporting period were CNY 1,187,954,245.28, a decrease of 0.50% compared to the end of the previous year[5] - Cash and cash equivalents at the end of the period increased to 61,966,944.05 RMB, up from 45,662,638.42 RMB at the end of the previous year, reflecting a growth of approximately 35.5%[40] - Total current liabilities decreased to CNY 113,775,784.53 from CNY 150,851,283.54, reflecting a reduction of approximately 24.6%[22] - Non-current assets totaled CNY 897,584,028.28, slightly up from CNY 893,518,882.66 at the beginning of the year[22] - The company reported a significant increase in prepayments, which rose to CNY 4,393,978.45 from CNY 3,975,616.44, marking an increase of about 10.5%[21] Investment Activities - The company reported non-operating income of CNY 594,367.63, which includes government subsidies[11] - Investment income increased by 41.79% to ¥1,705,277.59, mainly from the maturity of structured deposits[13] - Cash paid for investments decreased by 55.00% to ¥90,000,000.00, primarily due to reduced purchases of structured deposits and financial products[14] - The net cash flow from investment activities improved to 25,844,841.18 RMB, compared to a negative cash flow of -35,639,921.92 RMB in the previous year, marking a turnaround[40] Operational Challenges - The company has indicated that it may experience significant changes in net profit compared to the same period last year, with potential losses anticipated[17] - The company has not disclosed any new product developments or market expansion strategies in this report[3] - The company plans to focus on market expansion and new product development to drive future growth[29]