证券代码：000428 证券简称：华天酒店 公告编号：2023-022 华天酒店集团股份有限公司 第八届董事会第六次会议决议公告 2.审议通过了《关于放弃参股公司股权优先购买权的议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票。 详见公司同日在《证券时报》《证券日报》《上海证券报》《中国证券报》 及巨潮资讯网上披露的《关于放弃参股公司股权优先购买权的公告》。 二、董事会会议审议情况 本次会议经审议形成如下决议： 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 1.审议通过了《公司 2023 年半年度报告》(全文及摘要) 一、董事会会议召开情况 表决结果：同意 9 票，反对 0 票，弃权 0 票。 华天酒店集团股份有限公司（以下简称"公司"）第八届董事会第六次会议 于 2023 年 8 月 25 日在湖南华天大酒店贵宾楼四楼湘江厅以现场结合通讯方式召 开。本次会议已于 2023 年 8 月 15 日以书面和电子邮件的方式通知全体董事。公 司董事 9 名，实际参加表决的董事 9 名。其中，副董事长邓永平先生、董事向军 先生以通讯表决方式参加会议，独立董事 ...

3.报告期内,控股股东及附属企业经营性占用公司资金的年初金额为 635.32 万元，本期累计发生额为 370.38 万元，收到偿还金额 426.19 万元，本 期期末往来资金余额 579.51 万元。经核查，以上资金往来均为正常的生产经营 所需，按市场公允价格交易，不存在关联方违规占用公司资金的情况。 （二）公司对外担保情况 1.报告期内，公司已审批对外担保额度为 43,719.54 万元，对外担保实际发 生额为 43,719.54 万元。 华天酒店集团股份有限公司 第八届董事会第六次会议独立董事意见 根据《上市公司独立董事规则》《深圳证券交易所股票上市规则》《深圳证 券交易所上市公司自律监管指引第 1 号--主板上市公司规范运作》和《公司章程》 等有关规定，我们作为华天酒店集团股份有限公司（以下简称"公司"）第八届 董事会的独立董事，经过审慎、认真的核查和监督，现就公司第八届董事会第六 次会议有关事项发表如下独立意见： 一、关于控股股东及其他关联方占用公司资金、公司对外担保情况的专项 说明和独立意见 （一）公司控股股东及其他关联方占用公司资金情况 1.报告期内,公司控股股东不存在非经营性占用公司资金或以前期 ...

华天酒店集团股份有限公司 资产抵押贷款的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、交易情况概述 华天酒店集团股份有限公司（以下简称"公司"）分别于 2023 年 4 月 26 日、2023 年 5 月 18 日召开第八届董事会第五次会议和 2022 年度股东大会，审 议通过了《关于公司 2023 年申请融资综合授信的议案》，同意公司 2023 年向中 国农业银行股份有限公司湖南省分行（以下简称"农业银行"）申请授信额度 60,000 万元，授信期限一年，并在此额度以内办理贷款。本次授信额度内部分 贷款公司以全资子公司湖南国际金融大厦有限公司（以下简称"国金公司"）位 于湖南省长沙市开福区芙蓉中路八一桥北侧部分房产进行抵押（抵押期间覆盖贷 款期间），具体内容以与农业银行实际签署的相关合同为准。 二、抵押资产情况 本次贷款公司以全资子公司国金公司位于湖南省长沙市开福区芙蓉中路八 一桥北侧部分房产进行抵押，房屋所有权证为长房权证开福字第 709125138 号、 国有土地使用证为长国用（2010）第 089776 号等 174 套房产，房屋总建筑面积 ...

Financial Performance - The company's operating revenue for 2022 was ¥473.59 million, a decrease of 20.29% compared to ¥594.15 million in 2021[21]. - The net profit attributable to shareholders for 2022 was a loss of ¥310.70 million, representing a decline of 468.87% from a profit of ¥84.23 million in 2021[21]. - The net cash flow from operating activities was ¥5.09 million, down 84.49% from ¥32.81 million in 2021[21]. - Basic earnings per share for 2022 were -¥0.3049, a decrease of 468.68% compared to ¥0.0827 in 2021[21]. - The net profit excluding non-recurring gains and losses was -¥358.98 million, a slight increase in loss of 1.21% compared to -¥354.67 million in 2021[21]. - The company experienced a significant decline in both revenue and profit due to adverse market conditions[21]. - The total assets of Huatian Hotel Group at the end of 2022 were approximately CNY 5.30 billion, a decrease of 5.90% compared to the end of 2021[22]. - The weighted average return on net assets for 2022 was -15.85%, compared to 4.07% in 2021[22]. - The hotel industry revenue for 2022 was CNY 418.86 million, a decrease of 23.16% compared to the previous year[34]. - The company reported non-recurring gains and losses of CNY 48.28 million in 2022, significantly lower than CNY 438.90 million in 2021[29]. Strategic Plans and Risk Management - Future strategic plans and risk management measures are outlined in the management discussion section of the report[5]. - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements in the report[5]. - The company aims to optimize its asset-light model and has adjusted its franchise policies to accelerate brand expansion[38]. - The company is focusing on five potential growth markets, including new opportunities in leisure and vacation, and the integration of digital technology[88]. - The company is committed to enhancing its brand influence and operational capabilities through standardized brand construction and a focus on light asset operations[94]. Operational Developments - The company has undergone changes in its controlling shareholder, with the latest change occurring in April 2022[20]. - The company has implemented a digital management system covering 7 business segments and 18 management systems, enhancing operational efficiency[39]. - The company has established a comprehensive life service platform, integrating laundry, housekeeping, property management, and group meal services[39]. - The company has achieved a procurement online rate of 87.57%, optimizing its procurement standards and enhancing cost efficiency[39]. - The company has established a comprehensive training system to enhance the professional development of its management team and ensure the continuity of its core corporate culture[45]. Market Conditions and Challenges - The company faces uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profits over the last three accounting years[22]. - The hotel industry is facing challenges due to complex international conditions and domestic economic fluctuations, necessitating a proactive strategy to capture market opportunities[89]. - The company faces risks from rising operational costs due to inflation, which could pressure profit margins if room rates and occupancy do not improve[95]. - The company is actively working to optimize its debt structure to mitigate financial risks associated with high short-term liabilities[95]. Governance and Compliance - The company has established a complete and independent governance structure, ensuring compliance with relevant laws and regulations[100]. - The company maintains complete independence from its controlling shareholder in terms of personnel, assets, finance, organization, and business operations[102]. - The company has committed to resolving any competition issues with its controlling shareholder within a five-year period[103]. - The company is focused on maintaining compliance with regulatory requirements related to shareholder meetings and corporate governance[105]. - The company has committed to a long-term promise to avoid conflicts of interest and protect minority shareholders' rights[156]. Employee and Social Responsibility - The total number of employees at the end of the reporting period was 2,811, with 93 in the parent company and 2,718 in major subsidiaries[134]. - The company actively participated in social responsibility initiatives, providing support worth nearly 60,000 yuan for elderly care, disability assistance, and education[150]. - The company contributed to pandemic response by accommodating over 13,000 medical personnel and quarantine individuals in its hotels during specific periods[150]. - The company has established a comprehensive training system to enhance employee skills and management levels, ensuring the transmission of core corporate culture[136]. Legal and Financial Liabilities - The company is involved in a legal dispute regarding the ownership of 38% equity in Beijing Haobo, which is pledged as collateral[175]. - The company has initiated bankruptcy proceedings for Beijing Haobo, which has submitted a claim for bankruptcy debts[175]. - The company has made provisions for potential liabilities related to the lawsuit, reflecting a reasonable estimate of possible financial impacts[173]. - The company has committed to covering debts beyond the 700 million yuan associated with Beijing Haobo as part of its capital increase agreement[175]. Related Party Transactions - The total related party transaction amount with Hunan Xingxiang Investment Holding Group was 148.85 million yuan, representing 0.42% of similar transactions[185]. - The company ensured that all related party transactions were conducted at fair market prices[185]. - All related party transactions were approved and did not exceed the approved limits[185]. - The actual total amount of related party transactions during the reporting period did not exceed the expected total amount, but there was a situation where it was more than 20% lower than expected due to fluctuations in effective demand[187].

Financial Performance - The company's operating revenue for Q1 2023 was ¥133,042,474.07, representing a 25.73% increase compared to ¥105,818,618.02 in the same period last year[4] - The net profit attributable to shareholders was -¥43,838,419.23, a decrease of 31.93% from -¥33,229,774.90 year-on-year[4] - The net loss for Q1 2023 was CNY 59,700,796.23, compared to a net loss of CNY 55,140,375.92 in Q1 2022, indicating a worsening of 8.5%[19] - The operating profit for the period was a loss of CNY 60,401,716.05, slightly higher than the loss of CNY 56,762,136.10 in the previous year[17] - Basic and diluted earnings per share for Q1 2023 were both CNY -0.0430, compared to CNY -0.0326 in the same quarter last year[19] Cash Flow - The net cash flow from operating activities improved significantly to ¥3,645,575.98, compared to -¥22,727,535.19 in the previous year, marking a 116.04% increase[4] - The cash inflow from operating activities was CNY 126,816,286.20, an increase of 20.7% compared to CNY 105,099,142.20 in the previous period[21] - The company reported a total cash outflow from operating activities of CNY 123,170,710.22, which is lower than CNY 127,826,677.39 in the previous period[21] - The company's cash outflow for employee payments was CNY 50,974,283.35, an increase from CNY 48,982,032.67 in the previous period[21] - The company's cash outflow for taxes paid was CNY 13,580,828.25, compared to CNY 12,036,938.83 in the previous period, reflecting an increase in tax obligations[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,095,772,762.53, down 3.78% from ¥5,295,913,281.57 at the end of the previous year[4] - The company's equity attributable to shareholders decreased by 2.43% to ¥1,763,143,301.12 from ¥1,806,981,720.35 at the end of the previous year[4] - The company's current assets totaled CNY 932,563,426.67, down from CNY 1,077,753,252.01 at the beginning of the year, indicating a decline of approximately 13.5%[14] - The cash and cash equivalents were reported at CNY 61,764,911.16, significantly lower than CNY 185,801,319.14 at the start of the year, reflecting a decrease of about 66.8%[14] - The company's total liabilities stood at CNY 4,198,962,426.67, down from CNY 4,218,160,029.56, showing a slight decrease of about 0.5%[15] Operational Efficiency - Management expenses decreased by 34.99% to ¥48,943,284.57, due to the adjustment of energy costs to operating costs[8] - The company is focusing on cost management, as evidenced by the reduction in management expenses from CNY 75,285,033.71 to CNY 48,943,284.57, a decrease of approximately 35%[17] - The total operating costs decreased to CNY 208,100,246.39 from CNY 228,691,234.37, representing a reduction of approximately 9%[17] Accounts and Receivables - The company reported a significant increase in accounts receivable by 48.42%, reaching ¥45,532,806.86, attributed to increased hotel consumption[8] - Accounts payable increased to CNY 225,507,359.06 from CNY 221,204,792.98, indicating a rise of approximately 1.4%[15] Government Support - The company received government subsidies amounting to ¥1,303,759.76 during the reporting period, which are closely related to its normal business operations[5] Investment Activities - The cash inflow from investment activities totaled CNY 55,288,202.47, down from CNY 80,031,466.12 in the previous period[22] - The net cash flow from investment activities was CNY 41,567,750.38, compared to CNY 38,078,077.48 in the previous period, indicating a positive trend[22] Financing Activities - The cash inflow from financing activities was CNY 367,206,105.22, a decrease from CNY 704,000,000.00 in the previous period[22] - The net cash flow from financing activities was negative CNY 169,249,734.34, contrasting with a positive CNY 15,315,246.90 in the same period last year[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 59,911, with the largest shareholder holding 32.48% of the shares[11] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[14] - There were no significant mergers or acquisitions reported during the quarter[14]

Group 1: Industry Overview - The hotel industry in China faced significant challenges, with a total loss of 5.923 billion yuan in 2014, and over 3,000 star-rated hotels closed in the first three quarters of 2015 [3][4] - The strict restrictions on public consumption have adversely affected the operations of Huatian Hotel [3][4] Group 2: Company Strategy - Huatian Hotel has been exploring a "hotel + real estate + commerce + tourism" business model, currently operating nearly 20 self-owned hotels and about 50 managed hotels [3][4] - The company aims to optimize asset allocation and shift towards a light asset operation model, as demonstrated by the successful sales of the Zidongge Huatian project [3][4] Group 3: New Business Ventures - Huatian Hotel is developing a health and elderly care project in Huaiyang, targeting middle-to-high-end markets and leveraging existing hospital resources [4][5] - The company plans to establish a chain of elderly care facilities, utilizing its hotel management experience [5] Group 4: Real Estate Development - The company will not initiate new real estate projects in the near future but will focus on completing unfinished projects and reducing inventory [5][6] - The goal for 2016 is to accelerate inventory reduction and quickly recover funds [5][6] Group 5: Shareholder Relations - Huatian Hotel has not received any plans for shareholding increases from its major shareholder, Huaxin Hengyuan [6] - The strategic investor aims to enhance the company's performance and maximize shareholder value over the next two to three years [6]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥223,880,382.79, a decrease of 26.62% compared to ¥305,113,332.32 in the same period last year[20]. - The net loss attributable to shareholders was ¥122,930,968.12, an improvement of 20.40% from a loss of ¥154,428,766.00 in the previous year[20]. - The basic earnings per share were -¥0.1206, an improvement of 20.45% compared to -¥0.1516 in the same period last year[20]. - The weighted average return on equity was -5.99%, an improvement of 1.77% from -7.76% in the previous year[20]. - The company's total revenue for the reporting period was ¥223,880,382.79, a decrease of 26.62% compared to ¥305,113,332.32 in the same period last year[40]. - The cost of sales decreased by 13.10% to ¥203,936,092.16 from ¥234,671,334.83 year-on-year[40]. - The net cash flow from operating activities was ¥1,089,424.21, reflecting a slight increase of 2.68% from ¥1,061,008.97 in the prior year[20]. - The net cash flow from investing activities improved significantly by 161.74%, reaching ¥27,328,129.53, due to income from the "Tenglong Huanniao" project[40]. - The company reported a net profit of 23.35 million yuan from Hunan Huatian Hotel Co., Ltd., contributing significantly to overall performance[60]. - The total operating revenue for the first half of 2022 was CNY 223.88 million, a decrease of 26.67% compared to CNY 305.11 million in the first half of 2021[146]. - The net loss for the first half of 2022 was CNY 134.38 million, an improvement from a net loss of CNY 191.37 million in the first half of 2021[146]. - The total comprehensive income for the first half of 2022 was a loss of CNY 135,273,924.35, compared to a loss of CNY 188,670,131.64 in the first half of 2021[148]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,395,230,718.10, down 4.14% from ¥5,628,115,630.42 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 5.82% to ¥1,990,176,406.34 from ¥2,113,107,374.46 at the end of the last year[20]. - The company's short-term borrowings increased by 4.65% to ¥1,889,658,045.87, accounting for 35.02% of total assets[45]. - The company's current assets totaled RMB 1,122,473,575.64, down from RMB 1,236,666,106.39 at the beginning of the year, indicating a decrease of about 9.2%[139]. - Total liabilities decreased to CNY 2.95 billion as of June 30, 2022, from CNY 2.75 billion at the beginning of the year[145]. - The company's equity attributable to shareholders was CNY 2.97 billion as of June 30, 2022, compared to CNY 2.95 billion at the beginning of the year[145]. Cash Flow - The net cash flow from operating activities increased by 2.68% to ¥1,089,424.21 compared to ¥1,061,008.97 in the previous year[40]. - The cash and cash equivalents at the end of the period were significantly impacted by the aforementioned factors, leading to a substantial decrease[40]. - The ending balance of cash and cash equivalents increased to CNY 189,988,305.81 from CNY 158,590,883.33, showing a positive liquidity position[155]. - The company reported a significant increase in cash flow from operating activities, reflecting improved liquidity management[146]. - The cash flow from operating activities for the parent company was negative at CNY 47,592,623.54, worsening from a negative CNY 5,183,392.89 in the same period last year, suggesting operational challenges[156]. Business Segments - The hotel segment generated revenue of 194.81 million yuan, down 30.57% from 280.58 million yuan in the same period last year, primarily due to pandemic-related restrictions[30]. - The life services segment's revenue increased to 8.44% of total revenue, up from less than 5% at the end of 2021[30]. - Revenue from the hotel services sector was ¥194,811,987.84, accounting for 87.02% of total revenue, down 30.57% year-on-year[41]. - Revenue from the dining segment decreased by 33.85% to ¥77,636,471.67, representing 34.68% of total revenue[41]. Strategic Initiatives - The company aims to enhance its asset utilization and value through a light asset model, focusing on leasing, management, and joint development in key urban areas[35]. - The company plans to expand its service offerings in the life services sector, including laundry, housekeeping, and property management, under a "4+1" business model[32]. - The company is committed to a three-year action plan aimed at strengthening its core hotel business and enhancing overall service quality[31]. - The company is actively exploring new brand alliance models and accelerating hotel management layouts to adapt to industry restructuring[62]. - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[146]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held four shareholder meetings during the reporting period, with investor participation rates ranging from 55.46% to 55.94%[66]. - The company has undergone changes in its board of directors, with several resignations and new appointments in 2022[67]. - The company emphasized the importance of protecting shareholder rights and maintaining communication with investors, responding to 60 inquiries and conducting 6 investor calls[74]. Legal and Compliance - The company is involved in ongoing litigation related to Beijing Haobo, with a potential liability of RMB 50.22 million[87]. - The company has made provisions for bad debts amounting to RMB 219.87 million related to other receivables from Beijing Haobo[87]. - The company has no violations regarding external guarantees during the reporting period[83]. - The semi-annual financial report for 2022 was not audited[82]. Market Conditions - In the first half of 2022, the total number of domestic tourism trips in China was 1.455 billion, a decrease of 22.2% year-on-year[29]. - The hotel industry is expected to recover gradually, supported by the easing of travel restrictions and increasing demand for business and leisure travel[29]. - The economic environment in 2022 has led to a contraction in consumer spending in the hotel sector, influenced by reduced disposable income and ongoing pandemic effects[63]. Related Party Transactions - The total amount of related party transactions for the reporting period is estimated at 6,150 million yuan, with 750 million yuan for sales of products and services, and 4,750 million yuan for accepting services and leasing[103]. - The actual amount of related party transactions during the reporting period did not exceed the estimated total amount, but there were instances where actual amounts were more than 20% lower than estimated due to fluctuations in effective demand[103]. - The company’s related party transactions include sales of products, services, and leasing agreements, all adhering to market pricing principles[102]. Social Responsibility - The company actively engaged in social responsibility initiatives, including donations and support for pandemic response efforts[76]. - The company has been recognized for its contributions to social responsibility, particularly in supporting government pandemic response efforts[76]. - The company is committed to sustainable development and has integrated environmental protection into its management practices[75].

Financial Performance - The company's operating revenue for Q1 2022 was ¥105,818,618.02, a decrease of 16.66% compared to ¥126,976,268.76 in the same period last year[3] - The net profit attributable to shareholders was -¥33,229,774.90, an improvement of 67.71% from -¥102,916,867.35 year-on-year[3] - The net cash flow from operating activities was -¥22,727,535.19, showing a 38.73% improvement compared to -¥37,091,235.75 in the previous year[3] - The company reported a net loss of CNY 495,326,182.32 for the period, compared to a loss of CNY 462,096,407.42 at the beginning of the year[19] - Net profit for the current period was -¥55,140,375.92, an improvement from -¥121,376,858.17 in the previous period, indicating a reduction in losses[21] - The company reported a basic and diluted earnings per share of -¥0.0326, an improvement from -¥0.1010 in the previous period[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,542,326,079.21, a decrease of 1.52% from ¥5,628,115,630.42 at the end of the previous year[4] - The company's total liabilities were CNY 3,817,673,986.85, down from CNY 3,837,786,887.38, showing a decrease of about 0.5%[18] - The company’s total equity attributable to shareholders decreased by 1.57% to ¥2,079,877,599.56 from ¥2,113,107,374.46 at the end of the previous year[4] - The equity attributable to the owners of the parent company was CNY 2,079,877,599.56, down from CNY 2,113,107,374.46, reflecting a decline of approximately 1.6%[19] - Total current liabilities decreased slightly to CNY 3,526,223,086.32 from CNY 3,542,475,230.66, a reduction of approximately 0.5%[18] Cash Flow and Investments - The company's cash and cash equivalents increased to CNY 211,456,410.21 from CNY 193,437,888.36, reflecting a growth of approximately 11.7%[16] - Investment activities generated a net cash flow of ¥38,078,077.48, compared to -¥24,462,591.66 in the previous period, indicating a positive turnaround[26] - The company achieved a total cash inflow from financing activities of ¥704,000,000.00, compared to ¥950,060,264.48 in the previous period, reflecting a decrease in financing[27] Operational Metrics - The company reported a significant increase in accounts receivable, which rose by 87.92% to ¥35,494,177.74 due to increased hotel consumption[9] - The average daily rate (ADR) for the hotels increased by 10% year-over-year, reaching RMB 500 in Q1 2022[29] - The company achieved an occupancy rate of 70% in Q1 2022, up from 65% in the same period last year[29] Strategic Initiatives - Huazhu Group plans to open 300 new hotels in 2022, expanding its footprint in both urban and suburban markets[29] - The company has invested RMB 200 million in technology upgrades to enhance customer experience and operational efficiency[29] - Huazhu Group is exploring potential acquisitions to strengthen its market position and diversify its offerings[29] - Huazhu Group is focusing on sustainability initiatives, aiming to reduce energy consumption by 15% across its properties by 2025[29] Revenue and Growth Expectations - Huazhu Group reported a total revenue of RMB 4.5 billion for Q1 2022, representing a year-over-year increase of 15%[29] - The company expects a revenue growth of 20% for the full year 2022, driven by increased travel demand and new hotel openings[29] - The company incurred total sales expenses of ¥4,274,587.22, a slight decrease from ¥4,609,566.42 in the previous period[20] - Total management expenses were ¥75,285,033.71, down from ¥80,991,956.77 in the previous period, showing cost control efforts[20]

Financial Performance - The company's operating revenue for 2021 was CNY 594,149,455.76, representing a 15.28% increase compared to CNY 515,378,322.64 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 84,229,910.64, a significant turnaround from a loss of CNY 513,310,222.08 in 2020, marking a 116.41% improvement[19]. - The net cash flow from operating activities was CNY 32,806,804.09, a 153.53% increase from a negative cash flow of CNY 61,291,572.18 in 2020[19]. - Basic earnings per share for 2021 were CNY 0.0827, compared to a loss of CNY 0.5038 per share in 2020, reflecting a 116.42% increase[19]. - The company achieved a total revenue of CNY 594.15 million in 2021, representing a year-on-year increase of 15.28%[32]. - The hotel segment generated revenue of CNY 545.09 million, up 13.32% from 2020[32]. - The total assets at the end of 2021 were CNY 5.63 billion, a decrease of 8.08% compared to the end of 2020[21]. - The return on equity (ROE) was 4.07%, down 22% from the previous year[21]. - The company reported a total of CNY 438.90 million in non-recurring gains in 2021, significantly higher than CNY 32.56 million in 2020[27]. Business Strategy and Operations - The company has outlined future operational plans based on current industry and market conditions, emphasizing the importance of risk awareness for investors[5]. - The company is focused on expanding its business scope, including hotel asset management and investment in the cultural and entertainment industries[18]. - The company is focused on enhancing its hotel operations as part of its "three-year action plan" to strengthen its core business[32]. - The company is implementing a "three-year action plan" focusing on enhancing its core hotel business and expanding into life services, which currently account for only 4.16% of total revenue[36]. - The company is transitioning to a light asset model, with successful asset disposals totaling 9.93 billion yuan from two hotel projects[48]. - The company is committed to improving its main business reputation and profitability by leveraging digital tools and enhancing customer experience[90]. - The company is exploring new business models and accelerating hotel management layouts to adapt to industry restructuring[92]. Market and Industry Trends - The overall market demand for the hotel and tourism industry is expected to rebound as pandemic restrictions ease, with a notable increase in local and rural tourism[34]. - The hotel industry achieved a revenue of 545.09 million CNY in 2021, representing a growth of 13.32% compared to 2020, with a net profit of 84.23 million CNY, marking a turnaround from losses[35]. - The average total revenue for the hotel industry increased by approximately 5% compared to 2020, but still showed a 20% gap compared to 2019[31]. - The hotel industry is expected to face short-term negative impacts due to the ongoing pandemic, but medium to long-term market confidence is improving with rising vaccination rates and optimized treatment plans[88]. Governance and Management - The company has established a fully independent financial department and accounting system, ensuring no influence from controlling shareholders[101]. - The company is committed to enhancing internal control systems and improving governance structures to protect investor rights[98]. - The company has actively participated in training organized by securities regulatory bodies to enhance governance practices[97]. - The company has a diverse board with independent directors, ensuring a range of perspectives in decision-making[106]. - The company is focused on maintaining transparency and will issue timely announcements regarding any significant changes in operations or ownership[102]. Legal and Compliance Issues - The company is currently involved in multiple lawsuits regarding debt disputes with Beijing Deruite and Cao Dejun, with the latest ruling being finalized in December 2018[178]. - The company has been actively disclosing litigation updates in its annual and semi-annual reports since 2017, reflecting ongoing legal challenges[175]. - The company is involved in a legal dispute with Shengshi Huaxuan and Hunan Changhua Huishao, with a court ruling requiring the company to return a contract payment of 22 million yuan and interest of 6.336 million yuan[180]. - The company has filed an appeal to the Supreme People's Court regarding the ruling, which is currently under review[180]. Employee and Management Changes - Several key management personnel, including the president and vice president, have left the company due to personal reasons and work adjustments[110]. - The company has appointed new independent directors and a new chairman of the supervisory board as part of the board restructuring[110]. - The financial director and board secretary were newly appointed in November 2021, indicating a shift in financial management[110]. - The company is undergoing a transition in its leadership, with multiple resignations and new elections taking place in April 2021[110]. Remuneration and Compensation - Total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.1157 million[124]. - The remuneration for the current chairman, Yang Guoping, is CNY 0, while the vice chairman, Ren Xiaobo, received CNY 22.52 million before leaving[123]. - The current financial director, Xie Caiping, received a remuneration of CNY 19.94 million[124]. - The company follows a remuneration decision-making process that includes the human resources department, general manager office meetings, and board approval[122]. Social Responsibility and Community Engagement - The company actively participated in social responsibility initiatives, accommodating 1,294 individuals from medical teams and quarantine personnel during the pandemic[148]. - The company is committed to ongoing communication with investors, as evidenced by the regular shareholder meetings held throughout the year[104]. - The company actively participated in poverty alleviation and rural revitalization efforts, supporting local economies through procurement of poverty alleviation materials[149]. Related Party Transactions - Related party transactions included hotel consumption sales to affiliated companies totaling 13.57 CNY, representing 0.03% of similar transaction amounts[191]. - The company engaged in related party transactions with a total value of 104.13 CNY, accounting for 0.19% of similar transactions, all settled as per agreed terms[191]. - The company has no significant related transactions during the reporting period, including no joint external investment transactions[195].

Financial Performance - Total revenue for Q3 2021 was CNY 160,496,656.93, an increase of 1.15% year-on-year, while year-to-date revenue reached CNY 465,609,989.25, up 41.09% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY -71,551,465.15, a decrease of 53.05% year-on-year, with a year-to-date net profit of CNY -225,980,231.15, down 40.69%[3]. - Basic and diluted earnings per share for Q3 2021 were both CNY -0.070, reflecting a 53.33% increase in losses compared to the same period last year[3]. - The company reported a net loss of RMB 719,197,627.05 for the period, worsening from a loss of RMB 478,170,681.76 at the end of 2020[20]. - The net profit for the current period was a loss of ¥278,119,138.52, an improvement compared to a loss of ¥441,960,620.29 in the previous period, reflecting a reduction in losses by approximately 37%[23]. - The total comprehensive income for the current period was a loss of ¥271,999,638.52, compared to a loss of ¥441,960,620.29 in the previous period, showing an improvement of about 38.5%[24]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 6,202,137,163.57, representing a 1.30% increase from the end of the previous year[3]. - The company's total liabilities reached RMB 4,650,220,489.54, compared to RMB 4,283,612,018.14 at the end of 2020, indicating an increase in liabilities[20]. - The total current assets were RMB 1,460,518,636.95, up from RMB 1,383,293,981.15 at the end of 2020, reflecting a growth in liquidity[18]. - The company's short-term borrowings increased to RMB 1,926,199,444.76 from RMB 1,859,939,906.23 at the end of 2020, indicating higher leverage[19]. - Total operating costs increased to ¥762,080,263.48 from ¥720,017,283.22, with operating costs specifically rising from ¥328,569,131.68 to ¥380,783,388.35, indicating a 15.9% increase[22]. - Current liabilities were approximately CNY 3.77 billion, remaining stable with no significant changes reported[32]. - Non-current liabilities increased to approximately CNY 516.24 million, an increase of CNY 118.18 million due to new lease accounting standards[32]. Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 4,505,569.86, showing a significant increase of 104.48%[3]. - The company reported a net cash flow from operating activities of ¥4,505,569.86, a recovery from a negative cash flow of ¥100,559,557.67 in the previous period[27]. - Cash and cash equivalents increased to RMB 170,102,176.92 from RMB 96,825,300.65 at the end of 2020, showing improved cash flow[18]. - Cash and cash equivalents at the end of the period totaled ¥139,211,370.73, up from ¥129,707,307.63 at the end of the previous period, marking an increase of about 7.5%[28]. - The company received cash inflows from financing activities totaling ¥2,484,966,096.87, an increase from ¥1,677,660,594.35 in the previous period, reflecting a growth of approximately 48%[28]. Shareholder Information - The top shareholder, Hunan Xingxiang Investment Holding Group Co., Ltd., holds 32.48% of the shares, while the second-largest shareholder, Hunan Huaxin Hengyuan Equity Investment Enterprise, holds 22.82%[10]. - The total equity attributable to the parent company decreased to RMB 1,848,257,776.69 from RMB 2,083,165,221.98 at the end of 2020, reflecting a decline in shareholder value[20]. Corporate Actions - The company plans to transfer 100% equity and related debts of its subsidiaries, Xiangtan Huatian and Changchun Huatian, through public bidding, with the starting price for Xiangtan set at RMB 185,12.244 million[13]. - The company is also looking to transfer 70% equity of Yongzhou Huatian City Investment Co., Ltd., with the announcement made on September 16, 2021[14]. Accounting and Reporting - The company is implementing new leasing standards effective from January 1, 2021, impacting financial reporting and asset valuation[33]. - The third quarter report was not audited, indicating potential implications for financial reliability[33].