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]

证券代码：900929 证券简称：锦旅B股 公告编号：2019-031 上海锦江国际旅游股份有限公司关于参加 上海辖区上市公司投资者集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步加强与投资者的互动交流工作，上海锦江国际旅游股份有限公司（以 下简称"公司"）将参加由上海上市公司协会、上证所信息网络有限公司共同举办 的"2019 年上海辖区上市公司投资者集体接待日"主题活动，现将有关事项公告 如下： 本次集体接待日活动将在上证所信息网络有限公司提供的平台，采取网络远 程 的 方 式 举 行 ， 投 资 者 可 以 登 录 " 上 证 路 演 中 心 " 网 站 （ http://roadshow.sseinfo.com ）或关注微信公众号：上证路演中心 （sse_roadshow），参与公司本次投资者集体接待日活动，活动时间为 2019 年 9 月 26 日（星期四）下午 15:00 至 17:00。届时公司副董事长兼首席执行官包磊先 生、首席财务官庄琦女士、董事会秘书金晶女士将通过网络在线交 ...

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 639,175,808.69, a decrease of 8.98% compared to RMB 702,198,629.24 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was RMB 51,467,897.60, showing a slight increase of 0.37% from RMB 51,276,055.95 in the previous year[19]. - The net cash flow from operating activities was negative at RMB -59,197,662.19, compared to a positive RMB 7,076,814.38 in the same period last year[19]. - The total assets at the end of the reporting period were RMB 1,460,290,109.80, reflecting a 0.82% increase from RMB 1,448,480,205.60 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 3.60% to RMB 892,519,979.39 from RMB 861,523,048.63 at the end of the previous year[19]. - The basic earnings per share for the first half of 2019 was RMB 0.3883, up from RMB 0.3868 in the same period last year[20]. - The weighted average return on equity increased to 5.70% from 4.45% in the previous year, an increase of 1.25 percentage points[20]. - Operating profit was CNY 55.06 million, down 19.73% year-on-year, while total profit decreased by 17.76% to CNY 58.46 million[34]. - Net profit attributable to shareholders increased by 0.37% to CNY 51.47 million, primarily due to a decrease in income tax expenses[34]. - The total operating revenue decreased by 8.98% to ¥639,175,808.69 from ¥702,198,629.24 in the previous year[44]. Revenue Breakdown - The tourism and related business accounted for 96.39% of total operating revenue, a decrease of 0.73 percentage points year-on-year[25]. - The company's outbound tourism revenue decreased by 25.97% to ¥193,582,895.10 compared to ¥261,507,979.01 in the same period last year[42]. - The inbound tourism revenue fell by 19.45% to ¥55,141,537.85 from ¥68,458,814.80 year-on-year[42]. - Domestic tourism revenue declined by 23.11% to ¥54,728,413.17, down from ¥71,180,993.32 in the previous year[42]. - Ticketing business revenue decreased by 17.30% to ¥139,897,943.00 compared to ¥169,165,537.69 last year[42]. - The revenue from incentive tourism and related services increased by 54.68% to ¥172,743,626.21, up from ¥111,676,343.57 year-on-year[42]. - Total operating revenue for tourism and related businesses was ¥616,094,415.33, a decrease of 9.66% from ¥681,989,668.39[43]. Operational Challenges - The company is facing significant industry risks due to sensitivity to political, economic, and natural events affecting tourism[81]. - The travel agency business is undergoing reform to unify operations under the "Jinjiang Tourism" brand to enhance competitiveness[77]. - The company is challenged by the rise of online travel agencies, impacting traditional business models and profit margins[82]. - The company plans to strengthen internal controls and develop customized travel products to mitigate operational risks[82]. - Domestic tourism showed a downward trend, with a 7.5% decrease in domestic tourists, totaling 3.15 million visitors[29]. - The outbound tourism market experienced a significant decline, with a 14.8% decrease in organized outbound trips, totaling 2.17 million[29]. Investment and Financial Management - The company's investment income for the period was CNY 44,254,781.53, a decrease of 40.42% compared to the previous year due to reduced gains from the disposal of listed stocks[63]. - The company expanded its direct procurement efforts, increasing the number of direct suppliers from over 30 to nearly 100 this year[36]. - The company reported a total investment income of CNY 8,117,786.49 from the sale of 50,000,091 shares of Agricultural Bank during the reporting period[75]. - The company has engaged in various stock transactions, including the purchase of shares in multiple companies, resulting in various investment gains, such as CNY 34,672.15 from Xian Bank[76]. - The company has implemented strategies to optimize financial asset allocation, enhancing the efficiency of financial assets[75]. Accounting and Financial Reporting - The financial report is prepared in RMB, with the balance sheet as of June 30, 2019, pending further details[115]. - The company will implement the new financial instrument standards starting from January 1, 2019, which includes changes in financial asset classification and impairment provisions[97]. - The new financial instrument standards categorize financial assets into three types: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[97]. - The company adjusted its accounting policies according to the revised financial reporting formats issued by the Ministry of Finance, which had no significant impact on its financial position, operating results, or cash flows[99]. - The company has not experienced any significant accounting errors that require retrospective restatement during the reporting period[99]. Corporate Governance - The company underwent a board restructuring with the election of new directors including Zhang Xiaoqiang as Chairman and Sun Yu as a director[111]. - The ninth board of directors consists of nine members, with independent directors including Li Dapei, Gu Zhongxian, and Zhou Ciming[111]. - The company did not report any changes in controlling shareholders or actual controllers during the period[108]. - The company has a commitment to avoid substantial competition with its subsidiaries post-acquisition, ensuring operational integrity[86]. Future Outlook - The company plans to enhance operational excellence and shift focus from quantity to quality and efficiency in its business model[34]. - The company expects to achieve a total annual revenue of CNY 1,656,200,000, having completed 38.59% of this target in the reporting period[51]. - The company is focusing on deepening its domestic market presence and nationwide expansion in the tourism industry[92].

Financial Performance - Operating revenue for the period was CNY 294,925,325.35, down 6.54% year-on-year[6] - Net profit attributable to shareholders of the listed company was CNY 14,385,877.88, a slight increase of 0.60% compared to the same period last year[6] - Operating profit was CNY 13.87 million, down 32.69% year-on-year[28] - Net profit attributable to shareholders increased by 0.60% to CNY 14.39 million, while net profit excluding non-recurring gains and losses rose significantly by 1,251.10% to CNY 6.29 million[11] - The company’s main business revenue from tourism and related services was CNY 282,985,844.35, with a gross margin of 8.87%, reflecting a year-over-year revenue decrease of 7.37% and a gross margin increase of 2.19 percentage points[31] - The total revenue for the company was CNY 284,652,361.40, with a gross margin of 9.00%, indicating a year-over-year revenue decline of 7.32% but an increase in gross margin by 2.22 percentage points[31] - Total operating revenue for Q1 2019 was CNY 294,925,325.35, a decrease of 6.5% compared to CNY 315,548,278.77 in Q1 2018[49] - Net profit for Q1 2019 was CNY 14,274,898.69, compared to CNY 13,666,018.84 in Q1 2018, reflecting a growth of 4.5%[49] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,416,635,415.11, a decrease of 2.20% compared to the end of the previous year[6] - The total assets as of January 1, 2019, were 1,449,554,455.04 RMB, reflecting a slight increase of 1,074,249.44 RMB compared to the previous year[61] - The total assets were reported at CNY 1,223,394,144.13, with current assets totaling CNY 443,007,547.93[66] - Total liabilities amounted to CNY 584,404,788.79, with current liabilities at CNY 489,296,721.27[62] - The total current liabilities decreased to ¥405,518,340.95 from ¥489,296,721.27, reflecting a reduction of about 17.1%[40] - The company’s total liabilities included accounts payable and accrued expenses amounting to 108,128,351.42 RMB and 64,752,663.41 RMB respectively[61] Cash Flow - The net cash flow from operating activities was negative at CNY -66,594,740.18, compared to CNY -16,747,834.44 in the previous year[6] - Cash flow from operating activities was negative at CNY -66.59 million, worsening from CNY -16.75 million in the same period last year[24] - The cash flow from operating activities for Q1 2019 was negative at -¥66,594,740.18, compared to -¥16,747,834.44 in Q1 2018[55] - The total cash inflow from operating activities was ¥315,989,014.03 in Q1 2019, compared to ¥354,570,459.65 in Q1 2018, reflecting a decrease of 10.9%[55] - Cash outflows for operating activities increased to 108,520,395.04 RMB in Q1 2019, compared to 78,266,114.42 RMB in Q1 2018, marking a 38.7% increase[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,396[9] - The largest shareholder, Shanghai Jin Jiang International Hotel (Group) Co., Ltd., held 50.21% of the shares[9] - Total equity attributable to shareholders reached CNY 861,523,048.63, with retained earnings of CNY 294,207,466.73[62] Investment Activities - The company reported a fair value measurement of financial assets totaling CNY 500,331,832.32 at the end of the reporting period, with an initial investment of CNY 347,242,227.86[32] - The investment in Jiangsu Bank resulted in a reportable gain of CNY 27,000,004.05 during the reporting period[32] - The company acquired 745 shares of Huapei Power, generating an investment income of CNY 10,639.36[33] - The overall investment strategy includes monitoring market trends and adjusting holdings based on performance metrics and fair value assessments[32] Other Comprehensive Income - Other comprehensive income increased by 31.96% to CNY 114.82 million, driven by the rise in the fair value of other equity investments[17] - The company reported a significant increase in other comprehensive income, totaling ¥27,000,004.05 in Q1 2019, compared to a loss of ¥46,298,101.70 in Q1 2018[52] Business Strategy - The company is actively restructuring its outbound tourism business and launching new personalized vacation products to enhance market competitiveness[26] - The company committed to ensuring independence in operations and financial reporting following the acquisition of shares from Jinjiang International[34] - The company plans to avoid substantial competition with its subsidiaries as per the commitments made in the acquisition report[33]

Financial Performance - In 2018, the company's operating revenue was CNY 1,519,627,495.36, a decrease of 11.14% compared to CNY 1,710,185,432.74 in 2017[22] - The net profit attributable to shareholders was CNY 63,467,905.06, representing a 3.66% increase from CNY 61,228,732.75 in the previous year[22] - The company's total revenue for the year was CNY 1,519,627,495.35, with a quarterly breakdown showing Q1 at CNY 315,548,278.77, Q2 at CNY 386,650,350.47, Q3 at CNY 418,094,370.75, and Q4 at CNY 399,334,495.37[25] - The net profit attributable to shareholders for the year was CNY 63,467,905.06, with a significant drop in Q4 to CNY 8,276,361.60 from CNY 36,976,247.42 in Q2[25] - The company reported an operating profit of CNY 144.92 million, an increase of 94.19% year-on-year[46] - The revenue from outbound tourism decreased by 28.26% to CNY 557.38 million, while inbound tourism revenue increased by 8.48% to CNY 155.35 million[50] - The company's main business revenue from tourism and related services accounted for 97.32% of total revenue, down 0.73 percentage points from the previous year[52] - The gross profit margin for tourism and related services increased by 0.97 percentage points, primarily due to higher margins in outbound and incentive travel[53] Assets and Liabilities - The total assets at the end of 2018 were CNY 1,448,480,205.60, down 9.64% from CNY 1,603,039,374.36 in 2017[22] - The net assets attributable to shareholders decreased by 24.93% to CNY 861,523,048.63 from CNY 1,147,555,643.09 in 2017[22] - The total current assets as of December 31, 2018, amounted to RMB 716,272,048.64, an increase from RMB 380,494,183.49 at the beginning of the year, reflecting a growth of approximately 88.4%[199] - The total liabilities amounted to ¥584,404,788.79, up from ¥455,907,295.44, reflecting an increase of approximately 28.2%[200] - Total current liabilities increased to ¥489,296,721.27 from ¥320,741,218.16, representing a growth of approximately 52.5% year-over-year[200] - Total non-current liabilities decreased to ¥95,108,067.52 from ¥135,166,077.28, indicating a reduction of about 29.6%[200] Cash Flow - The company reported a net cash flow from operating activities of CNY -72,719,875.31, indicating a decline in operational cash generation[22] - The net cash flow from operating activities was negative in Q1 and Q3, with Q1 at CNY -16,747,834.44 and Q3 at CNY -72,432,967.65[25] - The company's cash flow from investment activities showed a significant increase of 161.64%, reaching CNY 211.25 million[48] - The net cash flow from operating activities for the reporting period was -CNY 72,719,900, a decrease of CNY 19,283,100 compared to the previous year[59] Dividends - The company proposed a cash dividend of CNY 2.40 per 10 shares, totaling CNY 31,813,504.80, with a remaining undistributed profit of CNY 467,991,944.83 to be carried forward[5] - The cash dividend for B shares is set at $0.036561 per share, based on the exchange rate of 1 USD to 6.4003 CNY[112] - The company distributed cash dividends of 2.40 RMB per 10 shares in 2018, with a total cash dividend amounting to 31,813,504.80 RMB, representing 50.13% of the net profit attributable to ordinary shareholders[113] Operational Strategy - The company emphasizes the importance of risk awareness regarding future plans and development strategies[6] - The company implemented a multi-channel marketing strategy, including the launch of a new flagship store and the establishment of a direct sales department, improving overall business performance[43] - The company plans to enhance service quality and innovate content creation in the travel service industry, focusing on niche travel platforms that emphasize cultural and educational experiences[100] - The company aims to improve operational efficiency through precise marketing and refined internal operations, which will help reduce customer acquisition costs[100] - The company is set to accelerate the development of MICE (Meetings, Incentives, Conferences, and Exhibitions), inbound, and study tour businesses, leveraging market recovery opportunities[105] Industry Context - The tourism industry in China has shown steady growth, significantly contributing to the national economy, with a focus on high-quality tourism consumption trends[32] - The overall tourism revenue in China reached ¥5.97 trillion, growing by 10.5% year-on-year, indicating a positive trend in the travel industry[86] - The travel service industry is expected to see increased demand for high-quality services, driving competition beyond just pricing[100] Corporate Governance - The audit report issued by Deloitte Huayong was a standard unqualified opinion, ensuring the accuracy of the financial report[4] - The independent audit of the company's internal control effectiveness was conducted by Deloitte, resulting in a standard unqualified opinion[177] - The company has established a quality leadership team to improve service quality amidst a challenging tourism environment[133] Employee and Community Engagement - The company emphasizes employee rights protection and has completed the "Harmonious Labor Relations" creation activity in June 2018[132] - The company actively participates in social governance and community service activities, enhancing community interaction[134] - The total number of employees in the parent company and major subsidiaries is 816, with 79 in the parent company and 737 in subsidiaries[164] Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 13,399, an increase from 13,347 at the end of the previous month[143] - Shanghai Jin Jiang International Hotel (Group) Co., Ltd. holds 66,556,270 shares, representing 50.21% of the total shares[146] - The actual controller is the Shanghai Municipal State-owned Assets Supervision and Administration Commission, responsible for supervising state-owned assets[151]

Financial Performance - Operating revenue for the first nine months was CNY 1,120,292,999.99, a decrease of 7.94% year-on-year[6] - Net profit attributable to shareholders increased by 5.65% to CNY 55,191,543.46 compared to the same period last year[6] - The weighted average return on equity increased by 0.56 percentage points to 5.01%[6] - In Q3, consolidated operating revenue was CNY 41,809.44 million, a decrease of 13.36% year-on-year[13] - The net profit attributable to shareholders in Q3 was CNY 391.55 million, an increase of 177.02% year-on-year[13] - The company achieved a gross profit margin increase, contributing to the rise in operating profit and net profit[13] - The net profit excluding non-recurring gains and losses for the first nine months was CNY 19,759.36, a significant improvement from the previous year's loss[6] - Total operating revenue for the third quarter was CNY 418,094,370.75, a decrease of 13.4% compared to CNY 482,547,997.92 in the same period last year[41] - Total operating costs amounted to CNY 440,849,563.13, down 9.0% from CNY 484,534,699.93 year-on-year[41] - Net profit for the third quarter reached CNY 3,549,166.34, compared to CNY 745,786.63 in the previous year, marking a significant increase[42] - The company reported a total profit of CNY 3,739,048.56, up from CNY 220,293.24 in the same quarter last year[42] - Earnings per share for the third quarter were CNY 0.0295, compared to CNY 0.0107 in the previous year[43] - Investment income for the third quarter was CNY 27,092,310.93, a substantial increase from CNY 1,522,404.98 year-on-year[42] - The company recorded a total comprehensive income of CNY 24,039,093.38 for the third quarter, compared to CNY 13,951,299.55 in the same period last year[43] - Operating income for the first nine months was CNY 1,120,292,999.99, down 8.0% from CNY 1,216,913,079.44 year-on-year[41] - The company’s total operating costs for the first nine months were CNY 1,150,372,133.39, a decrease of 8.6% compared to CNY 1,258,186,204.78 in the previous year[41] - Operating profit for the first nine months was CNY 22,706,121.04, a decrease of 3.1% compared to the previous year[46] - Total profit for the first nine months reached CNY 22,265,159.36, down 2.6% year-over-year[46] - Net profit for the first nine months was CNY 22,344,195.03, reflecting a decline of 1.6% compared to the same period last year[46] - Comprehensive income totalled CNY 42,834,122.07, a significant increase from CNY 13,031,288.53 in the previous year[47] Assets and Liabilities - Total assets decreased by 9.98% to CNY 1,443,124,129.30 compared to the end of the previous year[6] - Net assets attributable to shareholders decreased by 9.40% to CNY 1,039,741,884.22 compared to the end of the previous year[6] - The total current assets increased to ¥396,646,080.90 from ¥380,494,183.49, representing a growth of approximately 3.0%[35] - Accounts receivable rose to ¥104,686,153.50 from ¥103,142,917.34, indicating a slight increase of about 1.5%[35] - The total non-current assets decreased to ¥1,046,478,048.40 from ¥1,222,545,190.87, reflecting a decline of approximately 14.4%[35] - Total liabilities decreased to ¥403,018,204.89 from ¥455,907,295.44, indicating a decline of about 11.6%[36] - The total equity attributable to shareholders decreased to ¥1,039,741,884.22 from ¥1,147,555,643.09, a drop of approximately 9.4%[37] - Cash and cash equivalents decreased to ¥219,729,166.94 from ¥224,173,241.14, a decline of about 2.0%[34] Cash Flow - The company reported a net cash flow from operating activities of CNY -65,356,153.27 for the first nine months[6] - The net cash flow from operating activities for the current period is -65,356,153.27 CNY, a decrease of 44,475,965.58 CNY compared to the same period last year, primarily due to a reduction in cash received from sales of goods and services[26] - Cash flow from operating activities showed a net outflow of CNY 65,356,153.27, worsening from a net outflow of CNY 20,880,187.69 in the prior year[49] - Cash inflow from investment activities was CNY 100,060,836.54, down from CNY 361,099,155.08 year-over-year[49] - Cash flow from financing activities resulted in a net outflow of CNY 31,018,167.18, compared to a net outflow of CNY 15,142,127.32 in the previous year[50] - The ending cash and cash equivalents balance was CNY 208,126,766.94, compared to CNY 128,265,925.10 at the end of the previous year[50] - The company reported a significant drop in cash flow from operating activities, indicating potential challenges in maintaining liquidity[49] - The net increase in cash and cash equivalents was -7,990,586.40, compared to a decrease of -67,522,377.21 in the previous period[53] - The ending balance of cash and cash equivalents was 127,185,940.43, down from 135,176,526.83 at the beginning of the period[53] Investments and Financial Management - The company has made investments in various listed companies, with a total investment income of 755,943.25 CNY reported from these transactions[32] - The company is actively managing its financial assets, with a focus on optimizing its investment portfolio and minimizing losses[29] - The total initial investment in securities amounts to 403,987,539.93 CNY, with a total book value at the end of the period of 768,663,152.47 CNY, reflecting a loss of 131,987,135.15 CNY during the reporting period[29] - The company received cash dividends totaling 1,283,050.95 CNY from Yuyuan Group, 109,311.25 CNY from Shenwan Hongyuan, and 2,500,000.00 CNY from Pudong Development Bank during the reporting period[29] - The company holds 11,553,172 shares of Yuyuan Group, with a book value of 69,247,012.51 CNY after selling 7,998,740 shares during the reporting period[30] - The company has not reported any significant changes in net profit expectations for the year compared to the previous year[32] - The company has not disclosed any new product developments or technological advancements during the reporting period[32] - There are no overdue commitments that have not been fulfilled during the reporting period[32] Revenue Sources - The company's outbound tourism revenue for the first nine months of 2018 was approximately ¥433.39 million, a decrease of 29.66% compared to ¥616.16 million in the same period of 2017[17] - The inbound tourism revenue increased by 34.38% to ¥104.00 million from ¥77.39 million year-on-year[17] - Domestic tourism revenue slightly decreased by 2.14% to ¥118.04 million from ¥120.62 million in the previous year[17] - The total operating revenue for the first nine months of 2018 was approximately ¥1.12 billion, down 7.94% from ¥1.22 billion in the same period of 2017[17] - The gross profit margin for tourism and related businesses was 7.58%, an increase of 1.18 percentage points compared to the previous year[19] - The company launched new travel routes in Japan, including Honshu, Okinawa, and Hokkaido, which contributed to revenue growth during the peak summer season[16] - The company organized nearly 500 students for educational travel programs and developed 10 new study tour routes, receiving positive feedback from schools[15] - The flagship store in Fuzhou Road opened on August 31, enhancing the company's offline sales channels and customer experience[16] - The company's prepayments increased by 56.46% to ¥59.72 million, primarily due to increased prepayments for outbound tour groups[22] - The company's financial expenses decreased significantly, with a net expense of ¥631,683.12, compared to ¥2.80 million in the same period last year, mainly due to reduced interest income[25]