Financial Performance - The company's operating revenue for Q3 2021 was ¥85,814,238.82, representing a 66.90% increase compared to the same period last year[4]. - The net profit attributable to shareholders was -¥8,758,478.78, with a year-to-date decrease of 62.18% to ¥4,887,805.47[4]. - The net profit for Q3 2021 was CNY 2,513,225.99, a decrease of 76.3% compared to CNY 10,623,649.79 in Q3 2020[36]. - The total profit for Q3 2021 was CNY 4,056,155.78, down 65.7% from CNY 11,824,062.63 in the same period last year[36]. - The operating profit for Q3 2021 was CNY 4,114,100.70, a decline of 37.7% from CNY 6,604,505.04 in Q3 2020[36]. - The basic earnings per share for Q3 2021 was CNY 0.0369, compared to CNY 0.0975 in Q3 2020[38]. - The company reported a net profit margin decline due to increased operating costs, impacting overall profitability[34]. Revenue and Income - The company's main business revenue for the first nine months of 2021 was ¥196,935,517.67, up 12.30% year-on-year[8]. - Total revenue for the first three quarters of 2021 reached ¥226,062,031.85, an increase of 12.96% compared to ¥200,121,976.94 in the same period of 2020[35]. - Domestic tourism revenue surged by 313.26% year-on-year, reaching ¥58,666,064.09, while outbound tourism revenue plummeted by 98.92%[8]. - Other income increased by 41.21% year-on-year, reaching 3,817,856.65 CNY in Q3 2021, up from 2,703,584.27 CNY in Q3 2020, mainly due to increased government subsidies related to core business[19]. - Investment income from associates and joint ventures rose to 404,930.56 CNY in Q3 2021, compared to a loss of -240,148.07 CNY in Q3 2020, reflecting an increase of 645,078.63 CNY due to improved operating profits from associates[19]. Cash Flow - The cash flow from operating activities for the year-to-date was -¥25,235,407.25, indicating significant cash outflow[4]. - Net cash flow from operating activities improved to -25,235,407.25 CNY in the current period, an increase of 11,406,193.62 CNY compared to -36,641,600.87 CNY in the same period last year, driven by higher cash receipts from sales of goods and services[20]. - Cash inflow from operating activities for the first nine months of 2021 was CNY 256,623,310.21, an increase of 11.8% from CNY 229,560,981.22 in the same period of 2020[40]. - The net cash flow from operating activities for the first nine months of 2021 was CNY -25,235,407.25, an improvement from CNY -36,641,600.87 in the same period of 2020[40]. - The net cash flow from investing activities increased by 5.70%, reaching 34,599,955.05 CNY in Q3 2021, up from 32,732,940.30 CNY in Q3 2020, primarily due to increased cash receipts from investment income[20]. - The net cash flow from financing activities improved significantly to -1,004,647.50 CNY in Q3 2021, compared to -15,972,000.00 CNY in the same period last year, mainly due to reduced cash payments for dividends[20]. Assets and Liabilities - The total assets at the end of Q3 2021 were ¥1,025,604,153.16, a slight decrease of 0.19% from the end of the previous year[5]. - Current assets as of September 30, 2021, totaled ¥275,822,167.11, compared to ¥267,922,254.31 at the end of 2020, indicating a growth of 2.67%[31]. - Non-current assets decreased to ¥749,781,986.05 from ¥759,594,003.59, a decline of 1.07%[32]. - Total liabilities increased to ¥280,010,394.28 from ¥278,031,591.49, marking a rise of 0.71%[33]. - The company's equity attributable to shareholders decreased by 0.20% to ¥746,955,388.82[5]. - The minority shareholders' equity turned negative at -¥1,361,629.94, primarily due to losses from subsidiaries[16]. - Shareholders' equity totaled ¥745,593,758.88, down from ¥749,484,666.41, reflecting a decrease of 0.51%[33]. Comprehensive Income - The total comprehensive income attributable to the parent company for Q3 2021 was CNY 233,414.71, compared to CNY -70,157,759.36 in Q3 2020[37]. - Other comprehensive income (after tax) for Q3 2021 was -4,654,390.76 CNY, a significant improvement of 78,426,301.30 CNY compared to -83,080,692.06 CNY in Q3 2020, attributed to a smaller decline in the fair value of other equity instruments[19]. Financial Position - The total number of ordinary shareholders at the end of the reporting period was 12,132[27]. - The company reported a tax expense of CNY 1,542,929.79 for Q3 2021, an increase from CNY 1,200,412.84 in Q3 2020[36]. - Total assets amounted to approximately $1,027.52 million, with current assets at $267.92 million and non-current assets at $759.59 million[45]. - Total liabilities reached $278.03 million, with current liabilities at $200.72 million and non-current liabilities at $77.31 million[45]. - Shareholders' equity totaled approximately $749.48 million, with retained earnings of $299.40 million[46].

Financial Performance - Basic earnings per share for the first half of 2021 were CNY 0.1029, a decrease of 47.14% compared to CNY 0.1948 in the same period last year[19] - The weighted average return on equity decreased to 1.76% from 3.03% year-on-year, a reduction of 1.27 percentage points[19] - The basic earnings per share after deducting non-recurring gains and losses was CNY 0.0856, down 43.68% from CNY 0.1520 in the previous year[19] - The weighted average return on equity after deducting non-recurring gains and losses decreased to 1.47%, down 0.89 percentage points from 2.36% in the same period last year[19] - The company's operating revenue for the first half of the year was CNY 140.25 million, a decrease of 5.69% compared to the same period last year[21] - The net profit attributable to shareholders was CNY 13.65 million, down 47.14% year-on-year[21] - The net profit after deducting non-recurring gains and losses was CNY 11.35 million, a decrease of 43.68% compared to the previous year[21] - The company achieved a total revenue of ¥140,247,793.03, a decrease of 5.69% compared to the previous year[38] - The company’s revenue from tourism and related businesses totaled ¥119,903,673.65, down 7.63% from the previous year[42] - The company’s revenue from other businesses increased by 44.26%, reaching ¥3,375,532.36[42] Cash Flow and Investments - The company reported a net cash flow from operating activities of -CNY 23.84 million, indicating a significant cash outflow[21] - The company’s investment activities generated a net cash flow of ¥9,123,066.61, an increase of ¥10,056,000.21 year-on-year[39] - The company reported a net cash flow from operating activities of -¥23,841,709.70, a decrease of ¥8,363,584.49 compared to the previous year[38] - The company reported a total investment income of 19,977.91 million yuan from 2,081 shares sold during the reporting period[61] - The net cash flow from investment activities was 9,123,066.61 RMB, a significant improvement from -932,912.60 RMB in the previous period, indicating better investment returns[124] Assets and Liabilities - The company's total assets increased by 5.18% to CNY 1,080.73 million compared to the end of the previous year[21] - The total assets of Jinlv Holdings reached 99,643,664.44 yuan, with a net asset deficit of -145,126,440.95 yuan[67] - The total liabilities included a lease liability of ¥174,840.81, which decreased by 32.70% due to regular rent payments[52] - The total liabilities as of June 30, 2021, were CNY 61,870,426.78, slightly up from CNY 60,525,419.93 at the end of 2020[115] - The total equity attributable to the parent company at the end of the reporting period is CNY 830,038,823.58, a decrease from CNY 875,583,685.69 at the end of the previous period, representing a decline of approximately 5.2%[132] Tourism and Market Focus - The company has developed over 60 "red tourism" products to commemorate the 100th anniversary of the Communist Party of China[31] - The company is focusing on domestic tourism and has launched new online travel products tailored to user preferences[30] - The tourism and related business accounted for 85.49% of total revenue, a decrease of 1.80 percentage points year-on-year due to the impact of the pandemic[25] - Domestic tourism revenue increased by 413.15% year-on-year, reaching ¥31,563,759.95[41] - The company launched over 60 specialized tourism products for the "Flower Expo," which were well-received in the market[32] Risk Management and Strategic Initiatives - The company aims to innovate its business model and improve efficiency in response to ongoing pandemic challenges[29] - The company is committed to strengthening its risk management and emergency response capabilities to mitigate potential impacts[69] - The company faced significant risks including industry, operational, market competition, and exchange rate fluctuations, which could impact its performance[68] - The company is focusing on enhancing its online presence and developing customized travel products to adapt to market changes[69] Corporate Governance and Compliance - The company appointed Xu Ming as the new Chairman and hired Le Wenxin as the CEO, while Bao Lei and Zheng Bei resigned from their positions[73] - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2021[75] - There were no significant environmental violations reported during the reporting period, and the company actively promotes eco-friendly practices[78] - The company has implemented a paperless office initiative, reducing paper usage across various operational levels[79] - The company has not reported any changes in accounting policies or significant errors in prior periods that would affect the current financial statements[142] Accounting and Financial Reporting - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[139] - The company applies accounting treatment for business combinations under both common control and non-common control scenarios[146] - The consolidated financial statements are prepared based on control, with subsidiaries included from the date control is obtained until control is lost[150] - Cash and cash equivalents are defined as cash on hand and deposits that are readily available for payment[153] - The company uses the cost method for accounting long-term equity investments in subsidiaries, with initial investment measured at cost[187]

Financial Performance - Total revenue for Q1 2021 was CNY 46,634,929.38, a decrease of 60.01% compared to CNY 116,630,823.23 in the same period last year[16] - Net profit attributable to shareholders was a loss of CNY 7,081,455.11, down from a profit of CNY 8,296,754.44 year-on-year[7] - The company's operating revenue for Q1 2021 was CNY 46,634,929.38, a decrease of 60.01% compared to CNY 116,630,823.23 in Q1 2020[33] - The net profit for Q1 2021 was a loss of ¥8,240,991.49, compared to a profit of ¥7,440,530.61 in Q1 2020, indicating a substantial decline in profitability[49] - The comprehensive income total for Q1 2021 was ¥33,165,352.40, contrasting with a loss of ¥28,336,908.87 in Q1 2020, showing a recovery in other comprehensive income[49] - Basic earnings per share for Q1 2021 was -¥0.0534, compared to ¥0.0626 in Q1 2020, reflecting a downturn in earnings performance[49] Cash Flow - Cash flow from operating activities was negative CNY 11,491,030.01, compared to negative CNY 9,533,062.50 in the previous year[7] - The net cash flow from operating activities was negative CNY 11,491,030.01, worsening from negative CNY 9,533,062.50 in the same period last year[57] - In Q1 2021, the company generated cash inflows from operating activities totaling CNY 57,092,721.89, a decrease of 57.5% compared to CNY 134,629,222.63 in Q1 2020[54] - Cash outflows for operating activities amounted to CNY 68,583,751.90, down 52.5% from CNY 144,162,285.13 in Q1 2020[57] - The total cash and cash equivalents at the end of Q1 2021 were CNY 182,212,672.18, down from CNY 234,615,533.76 at the end of Q1 2020[58] - The company experienced a net decrease in cash and cash equivalents of CNY 11,663,848.81 in Q1 2021, compared to a decrease of CNY 10,027,565.24 in Q1 2020[58] Assets and Liabilities - Total assets increased by 0.87% to CNY 1,036,454,159.21 from CNY 1,027,516,257.90 at the end of the previous year[7] - Current liabilities decreased to ¥176,551,814.40 from ¥200,718,754.49, a reduction of approximately 12%[43] - Total liabilities amounted to ¥253,804,140.40, down from ¥278,031,591.49, representing a decline of around 8.7%[44] - Shareholders' equity rose to ¥782,650,018.81 from ¥749,484,666.41, marking an increase of about 4.1%[44] - Total current assets were ¥191,141,080.81, with cash and cash equivalents at ¥120,503,322.41[65] Income and Expenses - The operating cost for Q1 2021 was CNY 36,253,695.61, down 61.22% from CNY 93,492,297.07 in the same period last year[33] - The company reported other income of ¥1,911,743.50 in Q1 2021, down from ¥3,622,490.97 in Q1 2020, indicating a decline in additional revenue sources[48] - Investment income increased by 583.86% to CNY 382,376.18 from CNY 55,914.32 year-on-year, primarily due to increased securities lending income[20] - The company paid CNY 24,509,937.80 in employee compensation, a decrease of 17.6% from CNY 29,791,282.30 in Q1 2020[57] Business Strategy and Outlook - The company plans to enhance its service capabilities and seek new business opportunities through its role as a ticket sales agent for the 10th Flower Expo[30] - The company has restructured its business model, establishing five new business centers to adapt to market changes and enhance service offerings[28] - The company aims to leverage its brand effect in the travel market to develop a comprehensive product system and become an industry benchmark[29] - The company anticipates significant fluctuations in net profit compared to the same period last year due to the ongoing impact of the COVID-19 pandemic on its main business[38] - The company is leveraging its digital information technology to integrate online and offline tourism services to mitigate losses caused by the pandemic[38]

Financial Performance - In 2020, the company's operating revenue was CNY 303,103,607.20, a decrease of 78.29% compared to CNY 1,396,063,238.53 in 2019[21]. - The net profit attributable to shareholders was CNY 5,468,245.47, down 91.43% from CNY 63,838,637.39 in the previous year[21]. - The company's total assets decreased by 21.45% to CNY 1,027,516,257.90 from CNY 1,308,162,706.96 in 2019[21]. - Basic earnings per share decreased by 91.43% to CNY 0.0413 in 2020 compared to CNY 0.4816 in 2019[22]. - The weighted average return on equity dropped by 6.60 percentage points to 0.68% in 2020 from 7.28% in 2019[22]. - The total profit amounted to CNY 449.81 million, down 93.96% from the previous year[44]. - The operating profit for the year was -CNY 55.77 million, a decline of CNY 71.62 million year-on-year[44]. - The company reported a net cash flow from operating activities of CNY -52,082,026.41, compared to CNY -80,233,816.66 in 2019[21]. Revenue Breakdown - The company's tourism and related business accounted for 87.32% of total operating revenue in 2020, a decrease of 9.57 percentage points from the previous year[30]. - Revenue from inbound tourism fell by 90.95%, while outbound tourism revenue decreased by 89.30%[49]. - The tourism and related business revenue dropped by 80.43%, accounting for 87.32% of total revenue, down 9.57 percentage points year-on-year[49]. - The revenue from mainland China was 257.01 million RMB, down 78.91%, while revenue from other regions fell by 90.95%[51]. Cash Flow and Assets - The net cash flow from operating activities was CNY -52,082,026.41, an improvement from -80,233,816.66 in 2019[58]. - Accounts receivable decreased to ¥44,628,298.65, down 56.31% from ¥102,141,100.87, primarily due to collection of receivables[60]. - Prepayments decreased to ¥19,619,573.37, down 72.35% from ¥70,967,145.51, mainly due to the impact of the pandemic on tourism operations[60]. - The company's total assets decreased from RMB 1,308,162,706.96 in 2019 to RMB 1,027,516,257.90 in 2020, a decline of approximately 21.4%[173]. Strategic Initiatives - The company aims to enhance its brand and resource advantages through the integration of its subsidiaries and improved service quality[33]. - The company launched 40 series of tourism and hotel package products, focusing on domestic travel and family vacation markets[40]. - The company developed a "cloud tourism" model to promote overseas travel resources while enhancing cooperation with suppliers[41]. - The company initiated a live-streaming sales model covering local tours and hotel packages to boost online sales[42]. - The company established a B2B2C distribution system to facilitate online business transformation[43]. Market Outlook - The tourism industry faced unprecedented challenges in 2020 due to the COVID-19 pandemic, leading to a deep "U-shaped" recovery trend[31]. - The report forecasts that global tourism will recover to 9.545 billion trips and 4.5 trillion USD in revenue in 2021, reaching 77.7% and 75.6% of 2019 levels, respectively[69]. - The tourism market is expected to recover, with domestic tourism numbers projected to reach 4.1 billion and revenue of 3.3 trillion RMB in 2021, reflecting a growth of 42% and 48% respectively compared to the previous year[79]. Corporate Governance - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated decision-making procedures for providing guarantees[7]. - The report includes a risk statement regarding forward-looking statements, emphasizing the importance of investor caution[6]. - The company has implemented strict labor protection regulations, ensuring no discrimination in hiring, compensation, and promotion practices, thereby safeguarding employee rights[112]. Shareholder Information - The total number of ordinary shareholders increased from 12,500 to 12,584 during the reporting period, indicating a growth in shareholder engagement[122]. - The largest shareholder, Shanghai Jinjiang Capital Co., Ltd., holds 66,556,270 shares, representing 50.21% of the total shares[125]. - The controlling shareholder is Shanghai Jinjiang Capital Co., Ltd., which also holds substantial shares in other listed companies, including 482,007,225 shares in Jinjiang Hotels[128]. Risk Management - The company faces risks including industry volatility due to external events, operational risks related to accounts receivable, and competition from online travel agencies[86]. - The company has not reported any significant issues regarding the integrity of its controlling shareholders or actual controllers[100]. - The company has not encountered any significant accounting errors that would require correction[98]. Employee and Management Structure - The total number of employees in the parent company is 55, while the main subsidiaries employ 654, resulting in a total of 709 employees[144]. - The company has established a salary growth mechanism for its subsidiaries, linking performance rewards to company performance and individual contributions[145]. - The board of directors consists of 3 independent directors, and the audit and risk control committee is chaired by an independent director[150]. Social Responsibility - The company received the "Model for Fulfilling Social Responsibility" award from the China Travel Service Association for its efforts in social responsibility during the pandemic[111]. - The company activated a disaster guarantee mechanism to protect the rights of travelers during the COVID-19 pandemic, showcasing its responsibility as a state-owned enterprise[114]. - The company promotes environmental protection by advocating for responsible tourism practices and implementing a paperless office policy, ensuring no significant environmental violations occurred during the reporting period[118].

Financial Performance - The company reported a net profit attributable to shareholders was CNY 12,922,932.70, representing a decline of 76.64% year-on-year[6]. - The operating revenue for the first nine months was CNY 200,121,976.94, down 80.31% compared to the same period last year[6]. - The company achieved a consolidated operating revenue of CNY 51,417,200 in the third quarter, a decrease of 86.37% year-on-year[11]. - The company's total revenue for the first nine months of 2020 was approximately CNY 200.12 million, a decrease of 80.31% compared to CNY 1,016.52 million in the same period of 2019[15]. - The revenue from outbound tourism dropped by 86.31% to CNY 46.24 million, while inbound tourism revenue fell by 87.02% to CNY 11.52 million[15]. - Domestic tourism revenue decreased by 84.39% to CNY 14.20 million, and ticketing business revenue plummeted by 99.63% to CNY 0.78 million[15]. - Total revenue for Q3 2020 was CNY 51,417,173.50, a decrease from CNY 377,346,355.94 in Q3 2019[63]. - Total operating revenue for Q3 2020 was ¥10,409,663.54, a decrease from ¥56,733,548.71 in Q3 2019[68]. - The company's net profit for Q3 2020 was CNY 879,470.83, a decrease from CNY 2,378,291.61 in Q3 2019, representing a decline of approximately 63.0%[70]. - The company reported a total comprehensive income of negative CNY 44,623,781.48 for Q3 2020, compared to negative CNY 43,594,998.42 in Q3 2019[71]. Asset and Liability Management - The company reported a total asset of CNY 1,073,903,388.36 at the end of the reporting period, a decrease of 17.91% compared to the end of the previous year[6]. - The total assets as of September 30, 2020, were CNY 1,033,811,540.85, a decrease from CNY 1,128,286,727.10 at the end of 2019[61]. - The company reported a significant decline in current assets, totaling ¥298,798,608.24 as of September 30, 2020, down from ¥430,195,215.43 at the end of 2019, representing a decrease of approximately 30.5%[56]. - The company's total liabilities as of September 30, 2020, were CNY 77,197,108.61, down from CNY 97,374,974.36 at the end of 2019[61]. - The company’s accounts payable decreased significantly to ¥48,090,238.64 from ¥106,618,830.77, a reduction of about 55.1%[57]. - The company reported a total liability of RMB 97,374,974.36, with current liabilities at RMB 65,269,272.03 and non-current liabilities at RMB 32,105,702.33[87]. Cash Flow Analysis - The company reported a net cash flow from operating activities of -CNY 36,641,600.87 for the first nine months, an improvement from -CNY 73,769,015.52 in the same period last year[6]. - The net cash flow from operating activities for the first three quarters of 2020 was -9,927,247.95 RMB, compared to -61,307,839.37 RMB in the same period of 2019, showing an improvement[77]. - The cash inflow from operating activities for the first three quarters of 2020 was 32,287,780.34 RMB, significantly lower than 165,210,804.36 RMB in the same period of 2019[77]. - The cash outflow for operating activities in the first three quarters of 2020 was 42,215,028.29 RMB, compared to 226,518,643.73 RMB in 2019, showing a decrease[77]. - The net cash flow from financing activities was CNY -15,972,000.00, an increase of CNY 15,841,504.80 compared to CNY -31,813,504.80 in the same period last year, mainly due to unpaid dividends[46]. Strategic Initiatives - The company is focusing on optimizing existing products and developing new hotel products centered around vacation hotels and family travel packages[12]. - The company launched several city tour products and customized travel packages for corporate unions, leveraging its brand advantages[12]. - The company is actively utilizing diversified sales channels to promote its products, including online and offline marketing strategies[12]. - The company is increasing its focus on customized travel services and has formed a project team for domestic customized travel[13]. - The company is actively adjusting its marketing strategies and innovating its tourism products in response to the pandemic's challenges[52]. - The company plans to focus on the recovery of the domestic tourism market as the pandemic stabilizes[52]. - The company is committed to minimizing losses caused by the pandemic through enhanced management and cost control measures[52]. - The company is focusing on market expansion and new product development as part of its future strategy[68]. Shareholder Information - The total number of shareholders at the end of the reporting period was 12,691[8]. - Shareholders' equity totaled CNY 956,614,432.24 as of September 30, 2020, compared to CNY 1,030,911,752.74 at the end of 2019[61]. - The total equity attributable to shareholders increased by 0% from the previous period, indicating stability in shareholder value[87]. Other Financial Metrics - The weighted average return on equity decreased to 1.56%, down 4.69 percentage points from the previous year[6]. - The gross profit margin for tourism and related services was 17.44%, with a decrease of 84.33% in revenue compared to the previous year[18]. - The company incurred a loss of CNY 240,148.07 from investments in associates, a significant decrease from a profit of CNY 3,413,857.99 in the same period last year[40]. - The fair value change income was CNY 8,689.44, a drastic decline of 99.73% from CNY 3,256,961.21 year-on-year, mainly due to reduced gains from trading financial assets[41]. - The company reported a loss of CNY 83,080,692.06 in other comprehensive income, worsening from a loss of CNY 35,436,439.15 in the same period last year, primarily due to a decrease in the fair value of other equity investments[45].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥148.70 million, a decrease of 76.73% compared to ¥639.18 million in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2020 was ¥25.82 million, down 49.84% from ¥51.47 million in the previous year[17]. - The total profit for the period was 24.84 million RMB, down 57.51% year-on-year[29]. - The company reported a decrease of 40.64% in net profit after deducting non-recurring gains and losses, with a figure of ¥20.15 million compared to ¥33.94 million last year[17]. - Basic earnings per share for the first half of 2020 were ¥0.1948, a decrease of 49.84% compared to ¥0.3883 in the same period last year[18]. - The weighted average return on equity was 3.03%, down by 2.67 percentage points from 5.70% in the previous year[18]. - Domestic tourism revenue fell by 88.76% to ¥6.15 million from ¥54.73 million year-on-year[40]. - The company reported a total comprehensive income of CNY -13.47 million for the first half of 2020, compared to CNY 63.38 million in the same period of 2019[116]. Cash Flow and Assets - The net cash flow from operating activities was -¥15.48 million, an improvement from -¥59.20 million in the same period last year[17]. - The company's total assets decreased by 12.23% to ¥1.15 billion from ¥1.31 billion at the end of the previous year[17]. - The company's accounts receivable at the end of the period is CNY 34,414,986.23, a decrease of 66.31% from CNY 102,141,100.87 at the beginning of the period[48]. - The company's cash and cash equivalents were RMB 232,917,024.61, a decrease of 6.99% from RMB 250,464,423.20[107]. - The total liabilities were RMB 318,130,003.11, a reduction of 26.5% compared to RMB 432,579,021.27[109]. - The total owner's equity at the end of the period was 830,038,823.58 RMB, down from 875,583,685.69 RMB at the beginning of the year[127]. Business Operations and Strategy - The tourism and related business accounted for 87.29% of total operating revenue, a decrease of 9.10 percentage points year-on-year due to the impact of the pandemic[21]. - The company has not disclosed any new product developments or market expansion strategies in this report[4]. - The company has implemented a comprehensive pandemic prevention plan and established a temporary working group for epidemic control[30]. - The company emphasizes the need for transformation in the tourism industry post-pandemic, focusing on service quality and technological innovation[23]. - The company developed nearly 150 new travel routes during the reporting period to prepare for business recovery post-pandemic[32]. - The company is focusing on developing new experiential products for inbound tourism, with 466 new products available in multiple languages[31]. - The company is expanding its online business through the establishment of a B2B2C distribution system to enhance member services[35]. Risks and Challenges - The company faces industry risks due to sensitivity to social, political, and economic events, which can directly impact tourism business[80]. - The company is challenged by operational risks, including significant accounts receivable and increasing labor costs, necessitating a steady growth rate[81]. - The traditional travel agency business is under pressure from the rapidly growing online travel sector, affecting profit margins and market share[81]. - The company plans to enhance internal controls and develop customized travel products to mitigate identified risks[81]. - The company's foreign exchange transactions expose it to currency fluctuation risks, impacting costs and revenues[81]. Shareholder and Equity Information - The largest shareholder, Shanghai Jinjiang Capital Co., Ltd., holds 66,556,270 shares, representing 50.21% of the total shares[97]. - The second-largest shareholder, Vanguard Emerging Markets, reduced its holdings by 364,890 shares, now holding 1,231,913 shares, which is 0.93% of the total[97]. - The company did not propose any profit distribution or capital reserve fund transfer plan for the half-year period[85]. - The total equity attributable to shareholders was RMB 827,456,665.60, down from RMB 871,295,923.29, reflecting a decrease of 5.03%[109]. Compliance and Accounting - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and transparency[138]. - The company has not reported any significant changes in accounting policies or estimates that would affect the financial results[141]. - The company adopted the new revenue recognition standards effective January 1, 2020, which are expected to have no significant impact on net profit, net assets, or operating cash flow[91]. - The company continues to operate under the assumption of going concern, with no significant doubts regarding its ability to continue operations for the next 12 months[139].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥148.70 million, a decrease of 76.73% compared to ¥639.18 million in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2020 was ¥25.82 million, down 49.84% from ¥51.47 million in the previous year[17]. - The total profit for the period was CNY 24.84 million, down 57.51% compared to the same period last year[29]. - The company reported a decrease of 40.64% in net profit after deducting non-recurring gains and losses, with a figure of ¥20.15 million compared to ¥33.94 million last year[17]. - Basic earnings per share for the first half of 2020 were ¥0.1948, a decrease of 49.84% compared to ¥0.3883 in the same period last year[18]. - The weighted average return on equity decreased by 2.67 percentage points to 3.03% from 5.70% in the previous year[18]. - The company reported a total comprehensive income of CNY -13.47 million for the first half of 2020, compared to CNY 63.38 million in the same period of 2019[116]. Cash Flow and Assets - The net cash flow from operating activities was -¥15.48 million, an improvement from -¥59.20 million in the same period last year[17]. - The total assets decreased by 12.23% to ¥1.15 billion from ¥1.31 billion at the end of the previous year[17]. - Cash and cash equivalents decreased from CNY 250,464,423.20 as of December 31, 2019, to CNY 232,917,024.61 as of June 30, 2020, a decrease of about 7%[107]. - Accounts receivable decreased significantly from CNY 102,141,100.87 as of December 31, 2019, to CNY 34,414,986.23 as of June 30, 2020, a decline of approximately 66.3%[107]. - Other receivables increased from CNY 6,265,099.74 as of December 31, 2019, to CNY 39,559,601.31 as of June 30, 2020, an increase of about 531.5%[107]. - The company reported a significant reduction in cash received from sales, totaling CNY 169,545,731.94 in the first half of 2020, compared to CNY 648,465,674.30 in the same period of 2019, representing a decline of 73.8%[120]. Industry Impact and Recovery - The tourism and related business accounted for 87.29% of total operating income, a decrease of 9.10 percentage points year-on-year due to the impact of the pandemic[21]. - The tourism industry faced a significant downturn, with domestic tourism expected to decline by 43% and tourism revenue by 52% for the year[24]. - The company is optimistic about the recovery of domestic tourism in the second half of 2020, driven by the gradual reopening of inter-provincial travel[24]. - The company managed to ensure the safe return of 2,654 tourists during the pandemic, demonstrating its commitment to customer safety[30]. - The company has implemented strict pandemic prevention measures and established a temporary working group for epidemic control[30]. Operational Adjustments and Strategies - The company has not disclosed any new product developments or market expansion strategies in this report[4]. - The company developed nearly 150 new domestic travel routes during the reporting period to prepare for business recovery post-pandemic[32]. - The company launched a live streaming project on platforms like Taobao, Douyin, and Kuaishou to promote weekend getaway hotel products and summer family travel packages[31]. - The company has created 466 new experiential products in the inbound tourism sector, focusing on themes like environmental protection, sports, history, and folklore[31]. - The company is focusing on expanding its online business and integrating traditional tourism services with digital platforms[35]. Financial Position and Equity - The total equity decreased from CNY 875,583,685.69 as of December 31, 2019, to CNY 830,038,823.58 as of June 30, 2020, a decrease of about 5.2%[109]. - The company’s total equity attributable to the parent company decreased by 43,839,257.69 RMB, with a comprehensive income loss of 11,760,640.35 RMB during the period[127]. - The company distributed dividends amounting to 32,078,617.34 RMB, impacting retained earnings significantly[127]. - The total owner's equity at the end of the reporting period is CNY 1,056,954,776.06, an increase from CNY 1,028,068,598.04 at the beginning of the period, reflecting a growth of approximately 2.5%[133]. Risk Management - The company is facing significant industry risks due to sensitivity to social, political, and economic events, which can directly impact tourism business[80]. - The company is also exposed to operational risks, including high accounts receivable and increasing labor costs, which necessitate maintaining a certain growth rate[81]. - The company plans to enhance internal controls and develop customized travel products to mitigate identified risks[81]. Compliance and Governance - The company has not reported any major changes in its accounting firm or received a non-standard audit report[86]. - The company has no major litigation or arbitration matters during the reporting period[86]. - The company has not disclosed any significant changes in accounting policies or estimates that would materially affect financial results[92]. - The company’s financial statements are prepared based on the accrual basis of accounting, ensuring accurate reflection of its financial position[140].

Financial Performance - Operating revenue fell by 60.45% to CNY 116,630,823.23 year-on-year[7] - Net profit attributable to shareholders decreased by 42.33% to CNY 8,296,754.44 compared to the same period last year[7] - The company reported a significant decline in operating profit, down 77.63% to CNY 3,102,000[13] - Basic earnings per share decreased by 42.33% to CNY 0.0626[7] - The company's main business revenue from tourism and related services was CNY 109,373,314.54, with a gross margin of 14.42%, reflecting a decrease of 61.35% compared to the same period last year[40] - The total revenue for the company was CNY 110,467,606.93, with a gross margin of 14.73%, indicating a decrease of 61.19% compared to the previous year[40] - The company reported a decrease in cash received from sales of goods and services, totaling ¥120,717,317.99 in Q1 2020, down 58.9% from ¥293,650,594.49 in Q1 2019[67] - The company's operating revenue for Q1 2020 was ¥7,082,972.81, a decrease of 81.8% compared to ¥38,879,330.46 in Q1 2019[63] - The net profit for Q1 2020 was ¥1,593,329.64, down 84.2% from ¥10,125,380.51 in Q1 2019[63] Assets and Liabilities - Total assets decreased by 10.15% to CNY 1,175,368,154.30 compared to the end of the previous year[7] - Current assets totaled CNY 346,718,995.25, down from CNY 430,195,215.43, indicating a decrease of about 19.4%[50] - Total liabilities decreased to CNY 328,121,377.48 from CNY 432,579,021.27, a reduction of about 24.1%[52] - Current liabilities totaled CNY 253,862,853.31, down from CNY 346,346,922.94, indicating a decrease of approximately 26.7%[51] - The company's equity attributable to shareholders decreased to CNY 843,815,238.25 from CNY 871,295,923.29, a decline of approximately 3.1%[52] - Total owner's equity decreased to ¥996,727,642.90 in Q1 2020 from ¥1,030,911,752.74 in Q1 2019, a decrease of 3.3%[57] Cash Flow - Net cash flow from operating activities improved to CNY -9,533,062.50, a reduction in loss compared to CNY -66,594,740.18 in the previous year[7] - The net cash flow from operating activities improved by CNY 57,061,677.68, reaching -CNY 9,533,062.50, primarily due to reduced tax payments[31] - Cash flow from operating activities showed a net outflow of -¥9,533,062.50 in Q1 2020, compared to -¥66,594,740.18 in Q1 2019[67] - The net cash flow from investing activities was 3,492,069.95 RMB, a turnaround from -2,254,179.62 RMB in Q1 2019[72] Shareholder Information - The total number of shareholders reached 12,798 by the end of the reporting period[11] - The top shareholder, Shanghai Jinjiang Capital Co., Ltd., holds 50.21% of the shares[12] Government Support and Other Income - The company received government subsidies amounting to CNY 8,522,490.97, primarily for tourism development[8] - Other income increased by 399.33% to CNY 3,622,490.97, mainly due to increased government subsidies[23] Operational Adjustments - The company suspended group tours and "flight + hotel" products starting January 24, 2020, in response to the pandemic[33] - The company plans to adjust and upgrade tourism products and enhance operational efficiency to minimize pandemic-related losses[36] - The company plans to continue its market expansion and product development strategies, focusing on enhancing its service offerings in the tourism sector[44] Accounting Policies - The company has adopted new revenue recognition standards effective from January 1, 2020, which are expected to increase gross margins despite a decrease in overall revenue and costs[47] - The overall impact of the new accounting policy is not expected to significantly affect the company's net profit, net assets, or operating cash flow[47] - The company is implementing new revenue and leasing standards starting in 2020, which may impact future financial reporting[81]

Financial Performance - In 2019, the company's operating revenue was CNY 1,396,063,238.53, a decrease of 8.13% compared to CNY 1,519,627,495.36 in 2018[19] - The net profit attributable to shareholders of the listed company was CNY 63,838,637.39, representing a slight increase of 0.58% from CNY 63,467,905.06 in the previous year[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 48,405,718.26, a significant recovery from a loss of CNY 99,069,255.14 in 2018[19] - The net cash flow from operating activities was negative at CNY -80,233,816.66, worsening from CNY -72,719,875.31 in 2018[19] - As of the end of 2019, the total assets amounted to CNY 1,308,162,706.96, a decrease of 9.69% from CNY 1,448,480,205.60 in 2018[19] - The net assets attributable to shareholders of the listed company were CNY 871,295,923.29, an increase of 1.13% from CNY 861,523,048.63 at the end of 2018[19] - Basic earnings per share for 2019 was CNY 0.4816, an increase from CNY 0.4788 in 2018[20] - The weighted average return on equity increased by 1.39 percentage points to 7.28% in 2019 from 5.89% in 2018[20] - Total operating revenue for Q4 2019 reached CNY 379,541,073.90, showing a steady increase throughout the year[23] - Operating profit fell to CNY 71,064,100.00, down 50.96% year-on-year, while total profit decreased by 49.35% to CNY 74,443,600.00[43] - The company's cash flow from operating activities was negative at CNY -80,233,800.00, worsening from CNY -72,719,900.00 in the previous year[54] Revenue Breakdown - The tourism and related business accounted for 96.89% of total operating revenue in 2019, a slight decrease of 0.43 percentage points from the previous year[29] - Revenue from outbound tourism decreased by 21.55% to CNY 437,246,305.27, while inbound tourism revenue fell by 9.21% to CNY 141,040,466.59[45] - The revenue from the company's main business accounted for 96.89% of total revenue, with a slight decrease of 0.43 percentage points compared to the previous year[47] - The company's revenue from real estate business increased by 7.97% to CNY 36,641,805.24[45] - The revenue from other businesses remained relatively stable, with a decrease of only 0.59% to CNY 6,723,920.81[48] Cash Flow and Investments - Investment activities generated a net cash flow of CNY 36,430,600.00, a significant decline of 82.75% from CNY 211,247,300.00 in the prior year[55] - The net cash flow from financing activities for the current period is -31.81 million yuan, a decrease of 0.80 million yuan compared to the same period last year, primarily due to an increase in cash dividends paid[56] - The company received cash dividends of 32.87 million yuan from stocks such as Bank of Communications and China Bank, an increase of 6.13 million yuan year-on-year[57] - The company reported a significant decrease in investment income, which fell to CNY 44,411,565.90 from CNY 342,999,383.73 in the previous year[188] Strategic Initiatives - The company is focusing on expanding its market presence and enhancing customer experience through various new tourism products and services[31] - The company has optimized its organizational structure and upgraded its operational model to enhance competitiveness in both domestic and outbound travel markets[38] - The company is focusing on developing customized and fragmented travel products to enhance competitiveness against online travel agencies[87] - The company is committed to improving employee skills through online training to adapt to post-pandemic business needs[83] - The company plans to develop 2 to 3-day weekend free travel products centered around vacation hotels to capture the recovering domestic tourism market[84] Corporate Governance - The company has not reported any significant non-equity investments during the reporting period[74] - The company is focused on maintaining a solid foundation in the inbound tourism market while expanding its domestic tourism offerings[72] - The company has implemented measures to strengthen internal controls and risk management to mitigate identified risks[87] - The company has committed to maintaining independence in operations and financials post-acquisition to avoid conflicts of interest[93] - The company has enhanced its investor relations management, improving communication platforms with shareholders[148] Social Responsibility and Community Engagement - The company has actively engaged in social responsibility initiatives, achieving progress in employee rights protection, integrity in operations, and environmental sustainability[111] - The company has implemented a disaster protection mechanism in response to the COVID-19 pandemic, ensuring the protection of tourists' legal rights[113] - The company has no reported environmental protection violations during the reporting period, indicating a strong commitment to environmental responsibility[116] - The company has developed various employee health management systems to ensure the well-being of its workforce[112] Leadership and Management - The company has a strong leadership team with diverse experience across various subsidiaries and related companies[138] - The management team has extensive backgrounds in finance and operations, contributing to the company's strategic direction[138] - The company is focused on strategic investments and enhancing its operational efficiency through its newly elected board and committees[136] - The company has appointed independent directors Gu Zhongxian and Li Dapei to the audit and risk control committee, and Zhang Xiaoqiang to lead the strategic investment committee[136] Financial Reporting and Compliance - The company has maintained compliance with ethical requirements related to independence, ensuring transparency in its financial reporting[172] - The company confirmed that there were no significant deficiencies in internal control during the reporting period[156] - The management is responsible for ensuring the financial statements are prepared in accordance with accounting standards and reflect a true and fair view of the company's financial position[167] - The company will adopt the revised revenue recognition standards starting January 1, 2020, which introduces a unified revenue recognition model[100]

Financial Performance - Operating revenue for the first nine months was CNY 1,016,522,164.63, a decline of 9.26% year-on-year[6] - Net profit attributable to shareholders increased by 0.23% to CNY 55,315,923.13 for the first nine months[6] - The net profit for Q3 was CNY 384.80 million, a decrease of 1.72% compared to the same period last year[14] - The total profit for the period was 61,876,514.94, down from 74,822,984.57, representing a decrease of approximately 17.3%[71] - The net profit attributable to the parent company was 55,315,923.13, slightly up from 55,191,543.46, indicating a marginal increase of about 0.2% year-over-year[72] - The net profit for Q3 2019 was CNY 2,378,291.61, down 89.4% from CNY 22,344,195.03 in Q3 2018[78] - The total profit for the first three quarters of 2019 was CNY 57,563,916.14, a decline of 41.5% compared to CNY 98,229,357.60 in the same period of 2018[76] Assets and Liabilities - Total assets decreased by 6.01% to CNY 1,361,379,728.92 compared to the end of the previous year[6] - The company's current assets decreased to CNY 490,679,911.06 from CNY 716,272,048.64 year-on-year[61] - The total liabilities decreased to CNY 508,043,413.08 from CNY 584,404,788.79 year-on-year[63] - The company's total equity decreased to CNY 853,336,315.84 from CNY 864,075,416.81 year-on-year[63] - The company's total liabilities remained stable, with current liabilities including accounts payable at 108,128,351.42 RMB, reflecting consistent operational obligations[86] - Total liabilities amounted to RMB 584,404,788.79, with non-current liabilities at RMB 95,108,067.52, reflecting a slight increase of RMB 268,562.36[87] Cash Flow - The company reported a net cash flow from operating activities of -CNY 73,769,015.52 for the first nine months[6] - Net cash flow from operating activities was CNY -73,769,015.52, a decline from CNY -65,356,153.27, primarily due to decreased cash received from sales[53] - The cash flow from operating activities for the first three quarters of 2019 was negative CNY 73,769,015.52, compared to negative CNY 65,356,153.27 in the same period of 2018[81] - The company reported a cash inflow from sales and services of 155,016,563.07 RMB in the first three quarters of 2019, a decrease from 204,253,421.35 RMB in 2018, indicating a decline in revenue generation[83] Revenue Breakdown - The outbound tourism revenue decreased by 22.07% to CNY 337,751,566.10, while inbound tourism revenue fell by 14.70% to CNY 88,714,626.90[19] - The company's incentive travel and related tourism business saw a significant increase of 45.31%, reaching CNY 255,960,218.89[19] - In Q3, the company achieved consolidated operating revenue of CNY 37,734.64 million, down 9.75% year-on-year[14] - Total operating revenue for Q3 2019 was CNY 377.35 million, a decrease of 9.7% compared to CNY 418.09 million in Q3 2018[70] Expenses and Costs - Management expenses decreased to CNY 23,329,293.36, down 49.02% from CNY 45,763,573.59 in the same period last year, primarily due to reductions in labor and leasing costs[39] - Total operating costs for Q3 2019 were CNY 376.86 million, down 14.5% from CNY 440.85 million in Q3 2018[70] - The company incurred operating costs of CNY 50,802,826.38 in Q3 2019, down 25.0% from CNY 67,687,264.73 in Q3 2018[76] Investments and Other Income - Other income increased to CNY 4,633,654.13, a growth of 237.06% from CNY 1,374,738.00, primarily due to higher government subsidies[40] - Investment income fell to CNY 44,942,437.77, down 55.67% from CNY 101,371,914.06, mainly due to reduced gains from the disposal of tradable stocks[41] - The company achieved investment income of CNY 941,483.33 in Q3 2019, a significant decrease from CNY 27,133,102.68 in Q3 2018[76] Strategic Initiatives - The company is focusing on optimizing its business structure and reducing reliance on traditional tourism, while expanding into new customer markets[16] - The company adjusted its outbound tourism products to cater to the growing demand for customized travel[14] - Strategic cooperation with high-end tourism resources in North America led to successful sales of luxury travel experiences[14] - The company is exploring market expansion opportunities and potential mergers and acquisitions to enhance growth prospects[70] Comprehensive Income - Total comprehensive income for the period was CNY 20,268,716.75, a significant increase from CNY -76,007,987.33 last year, primarily due to a smaller decline in the fair value of other equity investments[50] - The net amount of other comprehensive income (loss) after tax improved to CNY -35,436,439.15 from CNY -131,987,135.15, indicating a reduced loss in the fair value of other equity instruments[49] - The company reported a net loss of 45,973,290.03 in other comprehensive income, compared to a gain of 20,489,927.04 in the previous year[72] - The total comprehensive income attributable to the parent company was -42,125,264.50, compared to 24,405,414.55 in the previous year, indicating a significant decline[73]