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]

Financial Performance - Operating revenue for the year-to-date reached CNY 345,976,194.38, an increase of 11.26% year-on-year[5] - Net profit attributable to shareholders increased by 16.74% to CNY 76,933,224.07 compared to the same period last year[5] - Basic earnings per share rose by 16.75% to CNY 0.6951[5] - Total operating revenue for Q3 2017 reached ¥101,418,657.64, an increase of 9.5% compared to ¥93,020,371.70 in Q3 2016[27] - Year-to-date revenue for the first nine months of 2017 was ¥345,976,194.38, up 11.3% from ¥310,949,817.82 in the same period last year[27] - Net profit attributable to shareholders for Q3 2017 reached CNY 17,391,773.98, representing a 14.8% increase from CNY 15,134,480.73 in Q3 2016[30] - The company reported a total profit of CNY 23,925,304.36 for the first nine months of 2017, compared to CNY 19,829,008.62 for the same period in 2016, marking a growth of 20.5%[32] - Investment income for Q3 2017 was CNY 883,613.35, significantly higher than CNY 421,420.26 in Q3 2016, showing an increase of 109.5%[30] Assets and Liabilities - Total assets increased by 8.28% to CNY 1,174,261,824.69 compared to the end of the previous year[5] - Total liabilities increased to ¥156,128,938.86 from ¥128,253,083.72, marking a rise of 21.7%[21] - Current liabilities totaled ¥137,192,543.71, up 24.5% from ¥110,226,333.97 in the previous year[21] - Non-current assets reached ¥894,755,960.38, an increase of 9.3% from ¥818,850,246.57[21] - Cash and cash equivalents decreased by 45.08% to RMB 35,566,084.64, primarily due to the purchase of structured deposits[12] - Accounts receivable increased by 811.07% to RMB 20,219,679.34, mainly due to sales proceeds not yet collected within the credit period[12] - Total current assets reached ¥279,505,864.31, compared to ¥265,591,198.59 at the start of the year, marking a growth of 5.5%[19] Shareholder Information - The total number of shareholders reached 13,195[10] - The largest shareholder, Anhui Jiuhua Mountain Tourism (Group) Co., Ltd., holds 32.63% of the shares[10] - The company has committed to stabilizing its stock price if the closing price falls below net asset value for 20 consecutive trading days within three years post-IPO[16] - The controlling shareholder, Jiuhua Group, plans to hold shares long-term and will not reduce holdings by more than 3% of total shares within two years after the lock-up period[16] - The company has a plan to repurchase public shares using 10% of the latest audited distributable profits if necessary to stabilize stock prices[16] Cash Flow - Net cash flow from operating activities increased by 22.65% to CNY 124,007,185.16 year-to-date[5] - Cash inflow from operating activities for the year-to-date period reached ¥352,952,729.49, an increase of 14.8% compared to ¥307,414,112.93 in the previous year[35] - Cash inflow from investment activities was ¥614,426,302.18, significantly higher than ¥61,365,581.80 in the same period last year[36] - The net increase in cash and cash equivalents was -¥29,187,922.42, an improvement from -¥43,442,914.60 year-on-year[37] Expenses and Costs - Total operating costs for Q3 2017 were CNY 78,930,290.88, up from CNY 69,548,059.43 in Q3 2016, which is an increase of 13.5%[30] - The company incurred tax expenses of CNY 5,901,881.67 in Q3 2017, compared to CNY 5,142,582.21 in Q3 2016, reflecting a rise of 14.8%[32] - Payments to employees increased to ¥92,898,079.43 from ¥79,520,968.87, marking a rise of 16.5%[36] - The company reported a decrease in sales expenses to CNY 5,550,565.04 in Q3 2017 from CNY 5,118,092.49 in Q3 2016, a reduction of 8.5%[32]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 244,557,536.74, representing a 12.22% increase compared to CNY 217,929,446.12 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 59,541,450.09, up 17.28% from CNY 50,767,523.67 year-on-year[18]. - The net cash flow from operating activities reached CNY 87,674,549.68, reflecting a 25.13% increase compared to CNY 70,066,300.08 in the previous year[18]. - Basic earnings per share for the first half of 2017 were CNY 0.5380, an increase of 17.29% from CNY 0.4587 in the same period last year[19]. - The weighted average return on net assets was 6.04%, up from 5.51% in the previous year, an increase of 0.53 percentage points[19]. - Operating costs increased by 16.38% to CNY 118,179,125.44 from CNY 101,548,761.91 year-on-year[37]. - The company reported a net profit of CNY 496,383,931.87, compared to CNY 452,337,681.78, reflecting an increase of approximately 9.7% in retained earnings[78]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 1,143,941,852.01, a 5.49% increase from CNY 1,084,441,445.16 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased to CNY 1,000,588,548.89, marking a 4.64% rise from CNY 956,188,361.44 at the end of the previous year[18]. - Current liabilities rose to CNY 124,586,872.66, compared to CNY 110,226,333.97, reflecting an increase of about 13%[78]. - Total liabilities amounted to CNY 143,353,303.12, up from CNY 128,253,083.72, which is an increase of around 11.8%[78]. Cash Flow - The net cash flow from operating activities for the first half of 2017 was CNY 82,804,985.43, an increase of 33.9% compared to CNY 61,788,672.58 in the same period last year[92]. - Cash and cash equivalents at the end of the period were CNY 48,982,706.97, down from CNY 110,817,305.30 at the end of the same period last year[93]. - The total cash outflow from financing activities was CNY 15,495,200.00, compared to CNY 14,388,400.00 in the previous year[90]. Strategic Initiatives - The company operates six hotels in the local mid-to-high-end market, establishing a strong brand image and service quality[24]. - The company is focusing on building a multi-dimensional marketing channel, integrating resources from various platforms to enhance customer engagement[31]. - The company is actively promoting the Dongya Hotel renovation project to enhance its reception influence within the scenic area[36]. - A strategic cooperation framework agreement was signed with the Shitai County government for joint investment and development of the Guniujiang Scenic Area, aiding in the overall extension of the company's industrial chain[36]. Risks and Challenges - There were no significant risks or non-operational fund occupation by controlling shareholders or related parties reported during the period[3]. - The company faces risks from macroeconomic fluctuations, market environment changes, and potential natural disasters that could adversely affect its financial performance[43]. Shareholder Information - The controlling shareholder, JiuHua Group, commits to not reducing its shareholding by more than 3% of the total share capital within two years after the lock-up period[48]. - The top shareholder, Anhui Jiuhua Mountain Tourism (Group) Co., Ltd., holds 36,109,376 shares, representing 32.63% of the total shares[67]. Corporate Governance - The company has appointed Huapu Tianjian Accounting Firm as the auditor for the 2017 fiscal year, approved by the 2016 annual general meeting[50]. - There are no significant litigation or arbitration matters reported during the reporting period[50]. - The company and its controlling shareholders have maintained good integrity, with no defaults on court judgments or significant overdue debts[50]. Community Engagement - The company donated RMB 100,000 to help alleviate poverty in the local community, improving living conditions for impoverished households[58]. - The company plans to continue its poverty alleviation efforts through infrastructure improvement, industrial development, and employment assistance in 2017[61]. Accounting Policies - The financial statements prepared by the company comply with the requirements of the accounting standards, reflecting the company's financial position and operating results accurately[118]. - The company has not disclosed any significant changes in accounting policies or estimates during the reporting period[62]. - The company recognizes investment income from other comprehensive income related to equity investments upon losing control[145].

Financial Performance - Net profit attributable to shareholders increased by 38.37% to CNY 37,219,867.74 year-on-year[5] - Operating revenue rose by 10.64% to CNY 122,217,309.45 compared to the same period last year[5] - Basic earnings per share increased by 38.40% to CNY 0.3363 compared to the same period last year[5] - The weighted average return on equity increased by 0.86 percentage points to 3.82%[5] - The company reported a profit before tax of CNY 49,747,463.92, up from CNY 35,983,156.81, indicating a growth of approximately 38.5% year-on-year[29] - The total profit for the period was CNY 36,218,306.80, an increase from CNY 24,544,907.07, indicating a growth of about 47.5%[32] - The net profit for the first quarter was CNY 27,151,270.35, up from CNY 18,393,141.10, indicating a growth of approximately 47.5% year-over-year[32] Cash Flow - Net cash flow from operating activities increased by 49.87% to CNY 28,610,938.49 year-on-year[5] - The net cash flow from operating activities for Q1 2017 was CNY 24,833,678.44, an increase of 117.06% compared to CNY 11,426,360.88 in the same period last year[37] - The total cash inflow from operating activities was CNY 101,971,511.96, up from CNY 80,211,311.60, marking a growth of 27.06%[37] - Cash received from other operating activities increased by 75.55% to ¥2,620,532.00, mainly from insurance compensation[14] - The company reported a cash flow net increase of -CNY 10,806,243.48 for the period, compared to -CNY 13,522,767.07 in the previous year[39] Assets and Liabilities - Total assets increased by 2.25% to CNY 1,108,871,588.42 compared to the end of the previous year[5] - Accounts receivable increased by 503.70% to ¥13,398,165.97 due to sales not yet collected within the credit period[13] - Total current liabilities decreased to CNY 96,734,726.20 from CNY 110,226,333.97, a reduction of about 12.2%[22] - The company's non-current assets totaled CNY 824,038,773.63, slightly up from CNY 818,850,246.57 at the beginning of the year[22] - Total liabilities decreased to CNY 97,268,947.24 from CNY 110,730,913.21 at the start of the year, indicating a reduction of approximately 12.2%[27] Shareholder Information - The total number of shareholders reached 12,448 at the end of the reporting period[11] - The largest shareholder, Anhui Jiuhua Mountain Tourism Group Co., Ltd., holds 32.63% of the shares[11] - The company plans to use 10% of its distributable profits for repurchasing shares if the stock price falls below the net asset value per share[16] - The company has committed to not reducing its shareholding within one year after the stock listing[17] Government and Other Income - Government subsidies recognized in the current period amounted to CNY 991,913.57[8] - Other operating income decreased by 32.48% to ¥998,479.76, primarily due to a reduction in government subsidies received[13] - The company reported a non-recurring gain of CNY 670,400.07 after tax[10] Investment Activities - Cash received from investment activities totaled ¥180,000,000.00, resulting from the maturity of structured deposits and financial products[14] - The company reported a total cash inflow from investment activities of CNY 181,333,207.04, compared to CNY 24,699.00 in the previous period[36] - The cash outflow from investment activities totaled CNY 222,846,554.53, significantly higher than CNY 28,473,060.23 from the previous period[36] Other Financial Metrics - Financial expenses increased significantly by 1,135.29% to ¥66,995.92 due to a decrease in interest from current deposits[13] - The company experienced a foreign exchange impact of -CNY 0.72 on cash and cash equivalents[39]

Financial Performance - The company achieved a net profit of ¥74,044,327.39 for the year 2016, with a retained profit of ¥67,747,423.94 after statutory surplus reserve allocation[3]. - In 2016, the company's operating revenue was CNY 401,213,508.27, a slight increase of 0.11% compared to CNY 400,786,490.90 in 2015[20]. - The net profit attributable to shareholders was CNY 74,044,327.39, representing a growth of 4.78% from CNY 70,668,192.04 in the previous year[20]. - The total assets at the end of 2016 reached CNY 1,084,441,445.16, marking a 5.20% increase from CNY 1,030,842,703.47 in 2015[20]. - The net assets attributable to shareholders increased by 6.70% to CNY 956,188,361.44 from CNY 896,118,346.51 in 2015[20]. - The basic earnings per share for 2016 was CNY 0.67, a decrease of 1.47% compared to CNY 0.68 in 2015[21]. - The cash flow from operating activities net amount was CNY 152,101,603.92, up by 3.15% from CNY 147,458,757.11 in 2015[20]. - Operating costs rose to CNY 208,725,625.22, an increase of 3.57% year-on-year[41]. - The company reported a total revenue of 1.2 billion RMB for the year, representing a year-on-year increase of 15%[129]. Dividends and Shareholder Returns - The board proposed a cash dividend of ¥1.40 per 10 shares, totaling ¥15,495,200 to be distributed to shareholders[3]. - In 2016, the company distributed cash dividends of 1.30 CNY per 10 shares, totaling 14,388,400 CNY, representing 20.36% of the net profit attributable to shareholders[74]. - For 2017, the company proposed a cash dividend of 1.40 CNY per 10 shares, totaling 15,495,200 CNY, which is 20.93% of the net profit attributable to shareholders[75]. - The company is committed to maintaining a cash dividend policy of at least 20% of the distributable profit each year, ensuring stable returns to shareholders[73]. Governance and Compliance - The financial report received a standard unqualified audit opinion from Huapu Tianjian Accounting Firm, ensuring the accuracy of financial disclosures[5]. - The company has a solid governance structure with all board members present at the meeting, indicating strong oversight[5]. - There are no violations of decision-making procedures regarding external guarantees, reflecting compliance with regulations[6]. - The company has strengthened internal governance and compliance with regulations, enhancing transparency and control measures[38]. - The company has not reported any issues regarding the occupation of funds or the progress of debt recovery during the reporting period[82]. - The company has not received any non-standard audit opinions from its accounting firm during the reporting period[82]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements, urging investors to consider potential risks[4]. - The company acknowledges risks from macroeconomic fluctuations, market environment changes, and natural disasters that could adversely affect financial performance[69]. Market Presence and Operations - The company operates multiple subsidiaries, including various hotels and travel agencies, enhancing its market presence[11]. - The company operates six hotels in the mid-to-high-end market, establishing a dominant position in the local area[29]. - The company has three cable car lines providing stable revenue from sightseeing services, leveraging its unique geographical advantages[29]. - The online travel platform, YouTu.com, has seen rapid growth, becoming a significant channel for the company and the scenic area[30]. - The company has a total of 12 square kilometers of open area in the Jiuhua Mountain scenic area, with a potential development space of 120 square kilometers[31]. Human Resources and Talent Development - The company has recruited over 200 university graduates and high-level talents to enhance its human resources[37]. - The company has established a dynamic management system for talent, ensuring compliance and a harmonious labor relationship[37]. - The company emphasizes talent development and internal resource optimization to maintain a stable and high-quality workforce for long-term growth[67]. - The total number of employees in the parent company is 1,217, while the total number of employees in major subsidiaries is 248, resulting in a combined total of 1,465 employees[142]. Community Engagement and Social Responsibility - The company donated 1.2 million RMB to disaster relief efforts during severe flooding in July 2016, demonstrating its commitment to social responsibility[101]. - The company has a strong focus on community support, participating in local disaster relief and contributing to the welfare of affected populations[102]. - The company is committed to maintaining a competitive edge by focusing on mid-to-high-end brand positioning and product innovation[63]. Future Outlook and Strategic Initiatives - The company aims to achieve an operating income of ¥423,000,000 and a net profit of ¥75,750,000 in 2017[66]. - The company plans to enhance its market expansion and transformation efforts, focusing on online marketing and developing personalized travel products[66]. - The company is exploring potential mergers and acquisitions to enhance its market position, with a focus on regional tourism operators[128]. - Future outlook indicates a projected revenue growth of 15% for 2017, driven by new marketing strategies and expanded service offerings[128]. - The company is investing in new product development, including enhanced tourism packages and digital services, with an estimated budget of 50 million RMB[128]. Financial Health and Asset Management - The company has no non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[5]. - The total assets at the end of the reporting period reached CNY 1,084,441,445.16, up 5.20% from the previous year[39]. - The company's total liabilities decreased from CNY 134,724,356.96 to CNY 128,253,083.72, reflecting a reduction of approximately 3.5%[164]. - The total owner's equity increased from CNY 896,118,346.51 to CNY 956,188,361.44, representing a growth of about 6.7%[165].

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 217,929,446.12, representing a 4.44% increase compared to CNY 208,673,254.45 in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2016 was CNY 50,767,523.67, which is a 25.46% increase from CNY 40,464,019.54 in the previous year[16]. - The net cash flow from operating activities increased by 32.20%, reaching CNY 70,066,300.08 compared to CNY 53,000,839.68 in the same period last year[16]. - The operating profit reached CNY 67,443,475.75, up 29.03% compared to the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 50,450,146.03, which is a 28.83% increase from CNY 39,160,546.02 in the same period last year[16]. - The company completed 54.50% of its annual revenue target in the first half of 2016[29]. - The gross margin for the tourism service industry improved to 53.21%, an increase of 1.63 percentage points year-on-year[31]. - The hotel business generated revenue of CNY 68,642,588.02, with a gross margin of 23.53%, up 2.46 percentage points[31]. - The cable car business reported revenue of CNY 86,479,863.50, maintaining a high gross margin of 86.82%[31]. Shareholder Information - The company reported a total share capital of 110,680,000 shares, with 74.99% being restricted shares and 25.01% being unrestricted shares[68]. - A total of 45,264,300 restricted shares were released for circulation, including shares from multiple shareholders such as Anhui Chuangye Investment Co., Ltd. and Anhui Jiarun Jindi Investment Management Co., Ltd.[69]. - The company distributed a cash dividend of 1.30 RMB per 10 shares, totaling 14.3884 million RMB (including tax) to all shareholders[49]. - The top shareholder, Anhui Jiuhua Mountain Tourism (Group) Co., Ltd., holds 36,109,376 shares, accounting for 32.63% of total shares[73]. - Anhui Chuangye Investment Co., Ltd. holds 16,267,338 shares, representing 14.70% of total shares[73]. - Anhui Jiarun Jindi Investment Management Co., Ltd. owns 16,000,000 shares, which is 14.46% of total shares[73]. Cash Flow and Liquidity - The company reported a decrease in cash and cash equivalents, with a balance of ¥114,540,982.37 as of June 30, 2016, down from ¥152,372,174.53 at the beginning of the period, representing a decline of approximately 25%[84]. - The net cash flow from operating activities for the first half of 2016 was CNY 61,788,672.58, an increase of 30.0% compared to CNY 47,508,008.05 in the same period last year[101]. - Total cash inflow from operating activities was CNY 179,047,193.74, up from CNY 169,580,502.64, reflecting a growth of 5.5%[100]. - Cash outflow from operating activities decreased to CNY 117,258,521.16 from CNY 122,072,494.59, a reduction of 4.5%[101]. - The ending cash and cash equivalents balance was CNY 110,817,305.30, down from CNY 84,064,987.87 at the end of the previous period[101]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,045,305,435.02, reflecting a 1.40% increase from CNY 1,030,842,703.47 at the end of the previous year[17]. - The total liabilities reported were CNY 112,701,791.98, down from CNY 134,724,356.96, reflecting a decrease of about 16.3%[85]. - Current liabilities decreased to CNY 94,787,394.52 from CNY 116,559,627.40, a reduction of about 18.7%[85]. - Non-current liabilities totaled CNY 17,914,397.46, slightly down from CNY 18,164,729.56, indicating a decrease of approximately 1.4%[85]. - Owner's equity rose to CNY 932,603,643.04, compared to CNY 896,118,346.51, marking an increase of about 4.1%[86]. Governance and Compliance - The company has established a governance structure that complies with the requirements of the Company Law and the Securities Law, ensuring clear responsibilities among the shareholders' meeting, board of directors, and management[65]. - The company retained Huapu Tianjian Accounting Firm as its auditing institution for the 2016 fiscal year, as approved in the annual shareholders' meeting[61]. - The independent director of the company, Mr. Song Chang, is under investigation by the China Securities Regulatory Commission for suspected insider trading and short-term trading[63]. - The company has not disclosed any new strategies or major contracts during the reporting period[58]. - The company has confirmed that there are no undisclosed matters or significant changes in related party transactions[56]. Investments and Subsidiaries - The company has two wholly-owned subsidiaries, with the Anhui Jiuhua Mountain Tourism Passenger Transport Co., Ltd. generating revenue of CNY 40,551,082.56 and a net profit of CNY 12,110,017.32 for the reporting period[45]. - The company has engaged in wealth management with a total amount of CNY 60,000,000.00, yielding actual returns of CNY 446,700.00[38]. - The company has included two subsidiaries in the consolidated financial statements: Anhui Jiuhua Mountain Tourism Passenger Transport Co., Ltd. (100% ownership) and Chizhou Pingtian Tourism Development Co., Ltd. (100% ownership)[125]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, with no identified issues affecting the company's ability to continue operations for the next 12 months[127]. - The company adheres to the accounting policies and estimates in accordance with the enterprise accounting standards, ensuring the financial statements reflect a true and complete view of the financial position and results[129]. - The company does not classify any assets as held for sale in the current reporting period[198]. - The company recognizes impairment losses based on the present value of future cash flows when the carrying amount exceeds the recoverable amount[189].

Financial Performance - Operating revenue for the period reached CNY 110,461,834.20, representing a growth of 22.10% year-on-year [5]. - Net profit attributable to shareholders of the listed company was CNY 26,898,007.03, an increase of 84.85% compared to the same period last year [5]. - Basic earnings per share for the period were CNY 0.2430, reflecting a growth of 38.62% compared to the previous year [5]. - The weighted average return on equity increased by 0.27 percentage points to 2.96% [5]. - Total operating revenue for Q1 2016 was CNY 110,461,834.20, an increase of 22.1% compared to CNY 90,465,687.26 in the same period last year [27]. - Net profit for Q1 2016 reached CNY 26,898,007.03, a significant increase of 84.6% compared to CNY 14,551,503.58 in Q1 2015 [28]. - Earnings per share for Q1 2016 were CNY 0.2430, compared to CNY 0.1753 in the previous year, reflecting a growth of 38.7% [30]. - Total comprehensive income for the first quarter of 2016 was CNY 18,393,141.10, compared to CNY 8,668,040.59 in the same period last year, representing an increase of approximately 112.5% [33]. Cash Flow - The net cash flow from operating activities was CNY 19,090,322.40, up 217.48% year-on-year [5]. - Cash inflow from operating activities was CNY 101,759,791.15, up from CNY 80,508,850.11, indicating a growth of about 26.5% year-over-year [34]. - Net cash flow from operating activities reached CNY 19,090,322.40, significantly higher than CNY 6,013,001.19 in the previous year, marking an increase of approximately 216.5% [36]. - Cash flow from financing activities generated a net inflow of CNY 313,619,265.74, compared to no inflow reported in the previous year [37]. - The company’s cash flow from financing activities included CNY 314,311,936.00 from investment absorption, indicating strong capital inflow [39]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,021,025,683.01, a decrease of 0.95% compared to the end of the previous year [5]. - The total liabilities decreased to CNY 97,859,907.47 from CNY 134,724,356.96, indicating a reduction of approximately 27.4% [22]. - The owner's equity increased to CNY 923,165,775.54 from CNY 896,118,346.51, showing a growth of about 3% [22]. - The company's current assets totaled CNY 173,902,701.10, slightly up from CNY 172,483,784.68 at the beginning of the year [20]. - The total assets as of the end of Q1 2016 amounted to CNY 931,477,845.08, a decrease from CNY 948,766,325.14 at the end of the previous year [25]. - Total liabilities decreased to CNY 80,655,102.06 from CNY 116,336,723.22, indicating a reduction of 30.6% [25]. - Owner's equity increased to CNY 850,822,743.02 from CNY 832,429,601.92, showing a growth of 2.4% [25]. Receivables and Payables - Accounts receivable increased by 504.90% to 11,253,713.21, primarily due to sales not yet collected within the credit period [13]. - Other receivables rose by 77.95% to 3,926,351.80, mainly due to an increase in employee advances [13]. - Employee compensation payable decreased by 39.80% to 19,498,724.97, primarily due to performance bonuses being paid out in February 2016 [13]. - Tax payable increased by 45.98% to 9,418,630.44, driven by increased tax provisions due to revenue and profit growth [13]. Expenses - Sales expenses rose by 38.27% to 4,496,157.29, mainly due to increased business promotion costs [13]. - Financial expenses decreased significantly by 100.16% to -6,471.21, primarily due to a reduction in bank loans [13]. - Total operating costs for Q1 2016 were CNY 74,035,326.38, up from CNY 71,162,186.18, representing a year-over-year increase of 4.0% [27]. Investments and Projects - Construction in progress surged by 111.89% to 6,340,778.18, attributed to increased investment in the Jiu Hua Mountain project [13]. - The company has not disclosed any significant new product developments or market expansion strategies in this report [12]. - The company plans to continue expanding its market presence and invest in new product development to drive future growth [29].

Financial Performance - The company achieved a net profit of CNY 70,668,192.04 for the year 2015, with a retained profit of CNY 64,919,450.45 after statutory surplus reserve allocation[3]. - The cumulative undistributed profit reached CNY 398,978,657.84, indicating a strong retained earnings position[3]. - The company's operating revenue for 2015 was CNY 400,786,490.90, a decrease of 2.42% compared to CNY 410,738,513.67 in 2014[20]. - The net profit attributable to shareholders for 2015 was CNY 70,668,192.04, an increase of 7.09% from CNY 65,986,767.99 in 2014[20]. - The net cash flow from operating activities for 2015 was CNY 147,458,757.11, down by 3.98% from CNY 153,569,617.00 in 2014[20]. - The total assets at the end of 2015 were CNY 1,030,842,703.47, reflecting a 13.09% increase from CNY 911,554,971.41 at the end of 2014[20]. - The basic earnings per share for 2015 was CNY 0.68, a decrease of 15.00% compared to CNY 0.80 in 2014[21]. - The weighted average return on equity for 2015 was 8.92%, down by 4.14 percentage points from 13.06% in 2014[21]. - The total equity attributable to shareholders at the end of 2015 was CNY 896,118,346.51, a significant increase of 67.94% from CNY 533,595,435.64 at the end of 2014[20]. Dividend Policy - The board proposed a cash dividend of CNY 1.30 per 10 shares, totaling CNY 14,388,400 distributed to shareholders[3]. - The company has established a cash dividend policy to distribute at least 20% of the distributable profit to shareholders annually for the first three years post-IPO[86]. - For the year 2015, the proposed cash dividend is 1.30 RMB per 10 shares, amounting to 14.39 million RMB, which is 20.36% of the net profit attributable to shareholders[90]. - The company distributed cash dividends of 1.20 RMB per 10 shares for the year 2014, totaling 13.28 million RMB, which represents 20.13% of the net profit attributable to shareholders[87]. 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 maintained a good integrity status, with no major debts or court judgments unfulfilled during the reporting period[100]. - The company has not reported any non-standard audit opinions from its accounting firm[94]. - The company has established a governance structure that operates independently from its controlling shareholder, ensuring no infringement on the interests of the company and its shareholders[161]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements, urging investors to consider potential risks[4]. - The company recognizes potential risks from macroeconomic fluctuations and policy changes that could adversely affect its financial performance[80]. - The company acknowledges the impact of unforeseen events such as major pandemics and natural disasters on its operational performance[82]. - The company faces safety risks associated with its cable cars and gondolas, which are critical for passenger transport and require high safety standards[83]. Market Position and Strategy - The company operates multiple subsidiaries, including transportation and hospitality services, enhancing its market presence[10]. - The company is focusing on innovative products and exploring the "tourism+" model, targeting leisure, self-driving, and themed travel markets[40]. - The company is enhancing its information technology infrastructure, including the establishment of online platforms like YouTu Network and the "Jiuhua Tourism" WeChat public platform[40]. - The company is actively integrating with industries such as ecological agriculture and leisure retirement to create differentiated and customized travel products[40]. - The company is leveraging the opening of new high-speed rail lines to expand its market reach, particularly in the mid-to-high-end travel segment[40]. - The company completed the expansion project of Xifeng Mountain Villa, which is now in trial operation, enhancing its market position[43]. - The company has exclusive passenger transport rights within the scenic area, contributing to continuous profitability and enhancing overall value[31]. Employee and Management - The company organized three large-scale recruitment events, hiring over 100 university graduates and 20 graduates from top universities[44]. - The company has implemented a talent cultivation plan, focusing on employee rights and creating a harmonious labor relationship[111]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 2.6263 million yuan[153]. - The management team includes experienced professionals with backgrounds in finance, investment, and tourism, enhancing strategic decision-making capabilities[145]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards[160]. Future Outlook - The company plans to establish a wholly-owned subsidiary for tourism resource development, indicating a strategy for market expansion[68]. - The company aims to achieve an annual revenue target of 40 million yuan and a net profit of 6.5 million yuan for 2016[75]. - The company plans to enhance the efficiency of tourism resource utilization and strengthen its regional leadership in the modern tourism service industry over the next two to three years[73]. - The company will initiate key project constructions in 2016, including the renovation of Dongya Hotel and the construction of Huatai Walking Path, to enhance its tourism reception capacity[79]. - The company is exploring opportunities in emerging markets to diversify its revenue streams and reduce dependency on domestic sales[145]. - The company provided a future outlook projecting a revenue growth of 10% for 2016, driven by new marketing strategies and enhanced customer engagement[148]. Financial Management - The net cash flow from financing activities was ¥20,949,152.33, a significant increase of 121.19% compared to the previous year[49]. - Financial expenses decreased significantly by 74.84% to ¥4,904,201.54 due to early repayment of loans and reduced interest expenses[59]. - The company has committed to maintaining a stable dividend policy while considering long-term growth and significant future capital expenditures[88]. - The company has a commitment from its controlling shareholder to not transfer shares for 36 months post-IPO, ensuring stability in shareholding[90]. - The company plans to allocate 10% of its distributable profits for share buybacks if the stock price falls below the net asset value for 20 consecutive trading days[91].