Financial Performance - The company's revenue for Q1 2022 was ¥9,943,298.03, a decrease of 62.86% compared to ¥26,773,475.08 in the same period last year[3]. - The net profit attributable to shareholders was -¥62,036,009.11, representing a decline of 96.20% from -¥31,618,834.59 year-over-year[3]. - The net cash flow from operating activities was -¥50,282,589.23, a decrease of 50.89% compared to -¥33,324,698.29 in the previous year[3]. - The company reported a net loss of CNY 10,084,260.39 for the period, compared to a profit of CNY 51,951,748.72 at the beginning of the year[15]. - The net profit for the current period is a loss of ¥62,036,009.11, compared to a loss of ¥31,618,834.59 in the previous period, indicating a worsening of approximately 96.5%[18]. - The company’s total comprehensive income for the current period is a loss of ¥62,036,009.11, compared to a loss of ¥31,618,834.59 in the previous period, reflecting a decline of approximately 96.5%[18]. Assets and Liabilities - Total assets increased by 4.99% to ¥2,982,600,793.65 from ¥2,840,860,164.04 at the end of the previous year[3]. - Current assets amounted to CNY 178,862,903.23, significantly up from CNY 92,787,856.90 at the start of the year, indicating a growth of approximately 92.7%[13]. - The total assets of Zhangjiajie Tourism Group reached CNY 2,982,600,793.65 as of March 31, 2022, an increase from CNY 2,840,860,164.04 at the beginning of the year[12]. - Total liabilities rose to CNY 1,676,989,356.29 from CNY 1,473,557,038.12, marking an increase of approximately 13.8%[14]. - The total equity attributable to shareholders decreased to CNY 1,305,611,437.36 from CNY 1,367,303,125.92, reflecting a decline of approximately 4.5%[15]. Cash Flow and Liquidity - Cash and cash equivalents at the end of the period increased to ¥88,038,757.37 from ¥36,063,274.63, showing a significant improvement in liquidity[21]. - The company's cash and cash equivalents increased to CNY 88,349,257.37 from CNY 12,282,113.33, representing a growth of about 620.5%[12]. - The total cash inflow from financing activities was ¥245,000,000.00, up from ¥125,000,000.00 in the previous period, representing an increase of 96%[21]. Operating Costs and Expenses - The company experienced a 33.74% increase in operating costs, totaling ¥52,490,381.28, attributed to increased depreciation of new assets[6]. - Total operating costs increased to ¥87,383,464.23 from ¥63,487,466.15, marking an increase of about 37.6%[16]. - The company incurred financial expenses of ¥13,814,580.78, a substantial increase from ¥1,111,833.19 in the previous period, reflecting a rise of approximately 1131.5%[16]. - The company reported a significant increase in financial expenses, which rose by 1142.50% to ¥13,814,580.78 due to the absence of capitalized interest[6]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 26,816[9]. - The largest shareholder, Zhangjiajie Economic Development Investment Group Co., Ltd., holds 27.83% of the shares, amounting to 112,653,131 shares[9]. Other Financial Metrics - The weighted average return on equity was -4.64%, down from -2.11% in the same period last year, a decrease of 2.53%[3]. - The company's basic earnings per share for the current period is -¥0.15, compared to -¥0.08 in the previous period, indicating a decline in profitability per share[18]. - The total amount of non-recurring gains and losses was ¥5,268,071.72, primarily from government subsidies and other income[5]. - The company reported an investment income of ¥2,541,000.00 for the current period, with no such income reported in the previous period[19]. - Accounts receivable decreased to CNY 464,719.81 from CNY 607,964.12, indicating a decline of about 23.5%[13]. - Inventory slightly decreased to CNY 3,965,326.31 from CNY 4,036,223.60, a reduction of approximately 1.8%[13]. - The company's short-term borrowings decreased to CNY 150,383,563.20 from CNY 165,216,597.94, a reduction of about 8.5%[14]. - The company’s long-term borrowings increased to CNY 982,661,548.61 from CNY 757,510,000.00, an increase of about 29.7%[14].

Financial Performance - The company's operating revenue for 2021 was ¥198,709,253.63, representing a 17.44% increase compared to ¥169,196,685.24 in 2020[24]. - The net profit attributable to shareholders was -¥135,178,062.10, a decline of 46.61% from -¥92,205,465.44 in the previous year[24]. - The net cash flow from operating activities improved by 42.45%, reaching -¥12,442,893.40 compared to -¥21,621,183.64 in 2020[24]. - The total assets at the end of 2021 amounted to ¥2,840,860,164.04, an increase of 1.62% from ¥2,795,611,103.77 in 2020[24]. - The net assets attributable to shareholders decreased by 9.57% to ¥1,367,303,125.92 from ¥1,512,082,326.15 in 2020[24]. - The basic earnings per share were -¥0.33, a decrease of 43.48% from -¥0.23 in the previous year[24]. - The company reported a decrease in the weighted average return on equity to -9.39% from -5.92% in 2020[24]. - The revenue after deducting non-operating income was ¥196,583,003.14, compared to ¥169,044,442.77 in 2020[24]. - The company reported a total revenue of 1.2 billion RMB in 2021, representing a 15% increase compared to 2020[94]. - The company achieved a net profit margin of 12% for 2021, up from 10% in 2020[94]. Operational Developments - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company is actively exploring strategic investors to support future development in the cultural tourism sector[39]. - The company is focusing on the integration of culture and tourism as a key strategy for its development during the 14th Five-Year Plan[39]. - The company plans to achieve operating revenue of 365.0168 million yuan in 2022, closely monitoring the pandemic's impact[81]. - The company aims to transition its tourism business from traditional sightseeing to a combination of sightseeing, leisure, and vacation services[81]. - The company is focusing on resource integration and marketing reform to enhance operational efficiency and revenue generation[82]. - The company is actively promoting the marketing of tourism products to capture domestic market opportunities post-pandemic[83]. Visitor Statistics - The total number of ticketed visitors in 2021 reached 3.1105 million, an increase of 24.14% from 2.5056 million in 2020[38]. - The number of visitors to the Eco Transport service increased by 46.99% to 1.79 million, while revenue rose by 17.01% to ¥75.77 million[43]. - User data showed a growth in active users by 25% year-over-year, reaching 5 million active users by the end of 2021[95]. - User data indicates that the number of visitors to Zhangjiajie National Forest Park increased by 30% in 2021, reaching 3 million visitors[112]. Project Developments - The company has completed the construction of the Dayong Ancient City project, which integrates leisure, sightseeing, and entertainment[39]. - The Duyong Ancient City project achieved a usable state by June 2021, with fixed asset depreciation of 38,929,100 yuan[77]. - The full subsidiary "Duyong Ancient City" and the flying cinema "Fly Over Zhangjiajie" began trial operations on June 17, 2021[179]. Financial Management - The company is actively pursuing cost reduction strategies, including strict control of labor costs and seeking government tax relief policies[40]. - The company benefited from tax reductions and refunds totaling ¥17.66 million during the reporting period[40]. - Financial expenses surged by 622.52% to ¥28.65 million due to increased bank loans, totaling ¥833.24 million, which rose by ¥189.70 million year-on-year[44]. - The company has established a comprehensive internal control system that effectively covers governance and operational management, with no significant deficiencies reported during the period[139][140]. Shareholder Relations - The company emphasizes strengthening investor relations and ensuring the protection of shareholder rights[82]. - The company maintains independence from its controlling shareholder in terms of personnel, assets, finance, and operations[89]. - The company has established a transparent performance evaluation system for its directors and senior management[88]. - The annual shareholders meeting had an investor participation rate of 35.36% on May 18, 2021[90]. - The first extraordinary shareholders meeting had an investor participation rate of 32.40% on July 6, 2021[90]. Future Outlook - The company provided a revenue guidance for 2022, expecting a growth of 10% to 1.32 billion RMB[94]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 100 million RMB allocated for potential mergers and acquisitions[103]. - Future performance guidance indicates a projected revenue growth of 10% year-over-year for the next fiscal year[117]. Community Engagement - The company contributed 1.2 million RMB to support local pandemic control efforts and achieved "zero infection" during the COVID-19 outbreak[146]. - A total of 370,000 RMB was allocated for rural revitalization efforts, with management personnel actively participating in support activities for local communities[147]. Compliance and Governance - The company has committed to maintaining compliance with relevant laws and regulations in its operations[127]. - The internal control audit report confirmed that the company maintained effective internal control over financial reporting as of December 31, 2021, with a standard unqualified opinion issued[143]. - There were no significant lawsuits or arbitration matters during the reporting period[159].

Financial Performance - The company's operating revenue for Q3 2021 was ¥52,436,720.31, a decrease of 23.48% compared to the same period last year[3] - The net profit attributable to shareholders for Q3 2021 was -¥31,435,159.99, representing a significant decline of 1,871.73% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥33,177,967.42, a decrease of 2,469.53% compared to the previous year[3] - The basic earnings per share for Q3 2021 was -¥0.080, a decrease of 1,918.18% year-on-year[3] - The weighted average return on equity was -2.14%, a decrease of 2.26% compared to the previous year[3] - Net profit for the period was a loss of CNY 58,415,831.38, slightly improved from a loss of CNY 59,815,668.07 in the previous year[20] - The company reported a basic and diluted earnings per share of -0.14, compared to -0.15 in the previous year[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,912,657,028.57, an increase of 4.19% from the end of the previous year[4] - As of September 30, 2021, the total assets of Zhangjiajie Tourism Group amounted to CNY 2,912,657,028.57, an increase from CNY 2,795,611,103.77 at the end of 2020, reflecting a growth of approximately 4.4%[14] - The total current liabilities increased to CNY 373,000,000.00, up from CNY 200,000,000.00, marking an increase of about 86.5%[15] - Total liabilities increased to CNY 1,459,470,983.88 from CNY 1,283,528,777.62 year-on-year, reflecting a growth of 13.7%[19] - Total liabilities were CNY 1,283,528,777.62, remaining stable compared to the previous year[29] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥11,183,548.31, showing an increase of 88.90% compared to the previous year[3] - Cash flow from operating activities showed a net outflow of CNY 11,183,548.31, an improvement from a net outflow of CNY 100,785,482.38 in the same period last year[23] - Cash inflow from operating activities totaled CNY 175,348,954.42, compared to CNY 98,376,069.98 in the previous year, indicating a significant increase[23] - The net cash inflow from investment activities was CNY 5,268,865, a decrease of 41.5% compared to CNY 8,916,677.83 in the same period last year[24] - The net cash outflow from investment activities was CNY 95,489,897.74, compared to CNY 149,147,154.56 in the previous year, indicating an improvement of 36.0%[24] - The net cash flow from financing activities was CNY 140,860,640.21, down 40% from CNY 233,883,642.57 in Q3 2020[24] - The total cash and cash equivalents at the end of Q3 2021 amounted to CNY 71,785,566.63, an increase of 59.5% from CNY 37,598,372.47 at the beginning of the period[24] Shareholder Information - The company reported a total of 25,767 common shareholders at the end of the reporting period[10] - The major shareholder, Zhangjiajie Economic Development Investment Group Co., Ltd., holds 27.83% of the shares, amounting to 112,653,131 shares[10] - Zhangjiajie Tourism Group's major shareholders include Zhangjiajie Economic Development Investment Group, holding 39,574,245 shares, representing 9.8% of total shares[12] Operational Impact - The company experienced a significant impact on its performance due to the closure of all scenic spots in Zhangjiajie caused by the spillover of the pandemic[8] Investment and Development - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[19] Accounting and Standards - The company has not undergone an audit for the Q3 2021 report, indicating that the figures are unaudited[30] - The company has implemented new leasing standards starting in 2021, which may affect future financial reporting[25] Other Financial Metrics - The company's cash and cash equivalents increased to CNY 72,096,066.63 from CNY 37,917,085.17, representing an increase of about 90.0% year-over-year[14] - Short-term borrowings rose significantly to CNY 198,247,502.11, compared to CNY 63,067,183.34 at the end of 2020, indicating a substantial increase of approximately 214.5%[15] - The company reported a total of CNY 656,331,780.63 in investment properties, a significant increase from CNY 15,079,024.73, indicating a growth of approximately 4,261.5%[15] - The total non-current assets amounted to CNY 2,724,732,914.26, up from CNY 2,656,307,748.70, reflecting an increase of about 2.6%[15] - The company's accounts receivable increased to CNY 2,281,395.62 from CNY 1,360,005.67, representing a growth of approximately 67.7%[14] - The inventory level rose to CNY 3,955,880.28, compared to CNY 3,817,198.10, indicating an increase of about 3.6%[14] - The company’s total equity attributable to shareholders was CNY 1,000,000,000.00, reflecting a stable position compared to previous periods[15] - Total equity attributable to shareholders of the parent company decreased to CNY 1,453,186,044.69 from CNY 1,512,082,326.15, a decline of 3.9%[19]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥117,004,880.13, representing a 226.68% increase compared to ¥35,816,233.25 in the same period last year[22]. - The net profit attributable to shareholders was -¥26,980,671.39, an improvement of 56.20% from -¥61,595,539.41 year-on-year[22]. - The net cash flow from operating activities was -¥9,019,347.69, showing a significant improvement of 91.63% compared to -¥107,750,697.84 in the previous year[22]. - The total revenue for the Zhangjiajie Tourism Group in the first half of 2021 was CNY 116,016,192.21, representing an increase of 11.59% compared to the same period last year[42]. - The company reported a total profit loss of ¥33,229,819.83 for the first half of 2021, down from a loss of ¥66,029,097.73 in the first half of 2020, a reduction of 49.7%[120]. - The total comprehensive loss for the first half of 2021 was ¥26,980,671.39, compared to a comprehensive loss of ¥61,589,932.65 in the first half of 2020, indicating a 56.2% improvement[121]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,924,613,090.03, an increase of 4.61% from ¥2,795,611,103.77 at the end of the previous year[22]. - The total liabilities increased to CNY 1,440,017,967.22 from CNY 1,283,528,777.62, indicating a rise of 12.2%[112]. - The company has pledged assets totaling CNY 1,781,582,366.74 for various loans, indicating a significant level of leverage[48]. - The company’s accounts receivable increased to CNY 5,722,273.86, up from CNY 1,360,005.67, reflecting a growth of 320.00%[44]. - The total equity attributable to shareholders decreased to CNY 1,484,595,122.81 from CNY 1,512,082,326.15, a decline of 1.8%[113]. Operational Highlights - The number of tourists received by the environmental passenger transport service reached 1.1698 million, a year-on-year increase of 368.29%[34]. - The operating revenue from the environmental passenger transport service was 53,015,311.61 CNY, a year-on-year increase of 315.22%[40]. - The hotel service segment generated operating revenue of 5,476,342.56 CNY, a year-on-year increase of 87.66%[40]. - The gross profit margin for the sightseeing tram service was 51.64%, reflecting a year-on-year increase of 68.58%[41]. - The company’s main business structure remained unchanged during the reporting period[32]. Market and Strategic Initiatives - The company plans to enhance market marketing efforts and improve product quality to increase efficiency and resilience against market risks[60]. - The company is actively planning for product transformation and upgrading of scenic area offerings to improve risk resistance[60]. - The company plans to focus on market expansion and new product development in the upcoming quarters[141]. - Zhangjiajie Tourism Group plans to expand its market presence by launching new tourism packages and enhancing digital marketing strategies[147]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its service offerings[147]. Social Responsibility and Governance - The company allocated 100,000 RMB for poverty alleviation efforts in Sangzhi County, demonstrating its commitment to social responsibility[69]. - A dedicated team of 2 employees was formed to assist in rural revitalization efforts in Xiayuanzi Village[69]. - The company has employed 4 disabled individuals, showcasing its commitment to social inclusion[69]. - The company has committed to avoiding competition with its controlling shareholder and ensuring fair practices in related transactions[71]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[69]. Shareholder Information - The total share count was 404,817,686, with 73,078,886 shares (18.05%) being restricted and 331,738,800 shares (81.95%) being unrestricted[93]. - The largest shareholder, Zhangjiajie Economic Development Investment Group Co., Ltd., holds 27.83% of shares, totaling 112,653,131 shares[96]. - The total number of ordinary shareholders at the end of the reporting period was 30,608[96]. - The company has not undergone any changes in its controlling shareholder during the reporting period[100]. Financial Reporting and Compliance - The half-year financial report was not audited, indicating a lack of external validation for the financial data presented[75]. - The financial statements are prepared in accordance with the latest accounting standards issued by the Ministry of Finance, reflecting the company's financial position and operating results accurately[159]. - The company has maintained its ability to continue as a going concern for at least 12 months from the reporting date[158]. Risks and Challenges - The company faced major risks due to the impact of the COVID-19 pandemic, particularly the Delta variant outbreak in July 2021, which severely affected business operations[59]. - The management has indicated a cautious outlook for the remainder of 2021, considering the ongoing impacts of the pandemic on the tourism industry[134].

Financial Performance - The company's operating revenue for Q1 2021 was ¥26,773,475.08, representing a 145.41% increase compared to ¥10,909,525.46 in the same period last year[9]. - The net profit attributable to shareholders was a loss of ¥31,618,834.59, which is an improvement of 13.89% from a loss of ¥36,717,801.31 in the previous year[9]. - The net cash flow from operating activities improved to -¥33,324,698.29, a 67.42% increase compared to -¥102,283,389.72 in the same period last year[9]. - The basic earnings per share improved to -¥0.0781 from -¥0.0907, marking a 13.89% improvement[9]. - The weighted average return on equity was -2.11%, an improvement of 0.21% from -2.32% in the previous year[9]. - The net profit for the first quarter was a loss of ¥88,998,969.25, compared to a loss of ¥8,100,810.89 in the same period last year, indicating a deterioration in performance[40]. - The total comprehensive income for the period was -¥88,998,969.25, compared to -¥8,100,810.89 in the previous year, reflecting a significant decline[41]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,827,491,452.55, reflecting a 1.14% increase from ¥2,795,611,103.77 at the end of the previous year[9]. - The total liabilities were 1.35 billion yuan, an increase from 1.28 billion yuan at the end of 2020[28]. - Total current assets decreased to CNY 231,257,774.00 as of March 31, 2021, down from CNY 323,628,700.60 at the end of 2020, a decline of about 28.6%[31]. - The total equity attributable to shareholders of the parent company was CNY 1,475,825,972.34 as of March 31, 2021, down from CNY 1,564,756,178.89 at the end of 2020, a decrease of about 5.7%[32]. - The company's total liabilities and equity amounted to CNY 1,499,993,115.96 as of March 31, 2021, down from CNY 1,593,329,235.59 at the end of 2020, a decrease of approximately 5.9%[32]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,587[12]. - The largest shareholder, Zhangjiajie Economic Development Investment Group, holds 27.83% of the shares, amounting to 112,653,131 shares[12]. Visitor and Revenue Growth - The company received 412,200 ticketed visitors, an increase of 261,600 compared to the same period last year, representing a growth of 173.71%[16]. - The subsidiary "Environmental Passenger Transport" saw ticket sales increase to 223,200 visitors, a growth of 240.76% year-on-year, with operating revenue rising to 10.95 million yuan, up 371.25%[16]. - The "Yuanjiajie Cableway" recorded 102,300 visitors, a year-on-year increase of 209.06%, with operating revenue of 6.91 million yuan, up 306.75%[16]. Cash Flow and Investments - The company reported a financial asset impairment loss of ¥87,282,311.61, compared to ¥8,663,036.92 in the previous year, indicating increased financial strain[40]. - The company raised ¥125,000,000.00 through borrowings during the quarter, slightly up from ¥123,500,000.00 in the previous year[45]. - The company’s total cash outflow from investing activities was ¥63,710,895.70, significantly higher than ¥22,347,038.33 in the previous year, indicating increased investment activity[45]. Other Financial Metrics - Total operating costs for Q1 2021 amounted to CNY 63,487,466.15, compared to CNY 53,333,999.42 in Q1 2020, indicating an increase of about 19.5%[35]. - The company reported a significant increase in sales expenses, which totaled CNY 2,280,748.20 in Q1 2021, compared to CNY 2,689,758.83 in Q1 2020, a decrease of about 15.2%[35]. - The company has no significant financial investments or derivative investments during the reporting period[18][19]. - There were no overdue commitments from controlling shareholders or related parties during the reporting period[17].

Financial Performance - The company's operating revenue for 2020 was ¥169,196,685.24, a decrease of 60.21% compared to ¥425,258,692.37 in 2019[19]. - The net profit attributable to shareholders for 2020 was a loss of ¥92,205,465.44, representing a decline of 933.99% from a profit of ¥11,055,878.66 in 2019[19]. - The net cash flow from operating activities was negative at ¥21,621,183.64, down 113.87% from ¥155,829,995.12 in 2019[19]. - The basic earnings per share for 2020 was -¥0.23, compared to ¥0.03 in 2019, marking a decrease of 866.67%[19]. - The total revenue from travel agency services was 25,723,744.00, a decrease of 74.18% compared to 99,609,825.54 in 2019[51]. - The company reported a total revenue of 64,758,525 with a net loss of 25,313,910[74]. - The company reported a net loss of 200 million RMB for 2020, primarily due to the impact of the COVID-19 pandemic on tourism[156]. - The company reported a net loss of 50 million yuan for 2020, compared to a profit of 200 million yuan in 2019[168]. Assets and Liabilities - Total assets at the end of 2020 amounted to ¥2,795,611,103.77, an increase of 4.78% from ¥2,668,026,912.74 at the end of 2019[19]. - The net assets attributable to shareholders decreased by 5.64% to ¥1,512,082,326.15 at the end of 2020 from ¥1,602,499,905.75 at the end of 2019[19]. - The total amount of cash and cash equivalents decreased by 92,262,441.75, marking an 875.61% decline from the previous year[59]. - The total amount of cash outflow from investment activities increased by 45.73% to 307,775,282.97, compared to 211,192,320.83 in 2019[59]. - The company reported a significant increase in contract liabilities, with the end-of-period amount rising by CNY 1,318,915.85 and the beginning-of-period amount increasing by CNY 2,538,648.42[97]. Operational Challenges - The company reported a significant decline in both net profit and operating revenue, indicating challenges in the tourism sector due to external factors[19]. - The company has identified potential risks in its future development outlook, which investors should be aware of[6]. - The company experienced a significant decline in the travel agency service revenue, which was CNY 28.79 million, down 74.03% from CNY 110.85 million in 2019[1][4]. - The company faces challenges from increased competition and the need to upgrade the quality of its attractions[78]. Strategic Initiatives - The company is focusing on transforming its tourism business from traditional sightseeing to a combination of leisure and vacation experiences[83]. - The company aims to enhance its market share and profitability by integrating culture and sports into its tourism offerings[80]. - The company is implementing measures to mitigate the impact of COVID-19, including strict cost control and market promotions[82]. - The company is looking to capitalize on the recovery of the tourism industry post-pandemic to strengthen its market position[77]. - The company is focusing on enhancing operational efficiency by strengthening project initiatives and cultivating competitive advantages, particularly through the promotion of the core project "Duyong Ancient City" which is expected to open within the year[87]. Shareholder and Governance - The company has not distributed cash dividends or issued new shares from capital reserves in the past three years, including the current reporting period[91]. - The net profit attributable to ordinary shareholders for 2020 was -92,205,465.44 yuan, with a cash dividend payout ratio of 0.00%[92]. - The company has maintained a continuous relationship with Tianzhi International Accounting Firm for 12 years, with an audit fee of CNY 550,000 for the current period[100]. - The company has established a governance structure that complies with the regulations set by the China Securities Regulatory Commission, ensuring effective communication with shareholders[183]. Employee and Management - The total number of employees in the company is 1,074, with 51 in the parent company and 1,023 in major subsidiaries[175]. - The total pre-tax remuneration for the board of directors and senior management during the reporting period is 336.47 million yuan[174]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and senior management, ensuring transparency and compliance with legal regulations[184]. - The management team is committed to strategic planning and operational efficiency to drive growth in the tourism sector[151]. Community and Environmental Responsibility - The company invested a total of 540,000 RMB in poverty alleviation efforts, helping 60 individuals and supporting 2 communities[118]. - The company actively participated in COVID-19 prevention efforts, including donations and providing accommodation for travelers from Hubei[118]. - The company has focused on ecological protection by increasing the use of gas and new energy vehicles[118]. - The management team emphasized the importance of sustainability initiatives, with plans to allocate 5% of the annual budget towards environmental conservation projects[168].

Financial Performance - Operating revenue for the reporting period was ¥68,525,142.69, a decrease of 55.57% year-on-year[8] - Net profit attributable to shareholders was ¥1,774,264.58, down 94.38% compared to the same period last year[8] - Basic earnings per share were ¥0.0044, a decrease of 94.36% compared to the previous year[8] - The company reported a revenue of 10,434.14 million yuan, a decrease of 67.82% compared to 32,425.55 million yuan in the same period last year[16] - The net profit attributable to shareholders was -5,982.13 million yuan, down 250.22% from a profit of 3,982.29 million yuan in the previous year[16] - The net profit excluding non-recurring gains and losses was -7,073.77 million yuan, a decline of 308.03% compared to 3,400.36 million yuan in the same period last year[16] - Total operating revenue for Q3 2020 was CNY 68,525,142.69, a decrease of 55.7% compared to CNY 154,227,930.24 in the same period last year[37] - Net profit for Q3 2020 was CNY 1,774,264.58, a significant decline from CNY 31,838,947.46 in Q3 2019[39] - Total operating revenue for the third quarter was CNY 8,600,891.60, a decrease of 59.8% compared to CNY 21,426,252.34 in the same period last year[42] - Operating profit for the quarter was CNY 2,845,176.76, down 74.3% from CNY 11,075,533.71 year-over-year[43] - Net profit for the third quarter was CNY 2,783,390.40, a decline of 73.4% compared to CNY 10,444,533.72 in the previous year[43] Cash Flow and Liquidity - The net cash flow from operating activities was ¥6,965,215.46, a decline of 93.94% year-on-year[8] - The company’s cash and cash equivalents decreased to 114.09 million yuan from 130.86 million yuan at the end of the previous year[29] - Cash flow from operating activities was -100,785,482.38 yuan, a significant decline from 123,431,491.78 yuan in the previous period[56] - Cash flow from investing activities was -149,147,154.56 yuan, compared to -161,948,978.88 yuan in the previous period[57] - Cash inflow from financing activities generated a net inflow of 233,883,642.57 yuan, up from 76,759,528.96 yuan in the previous period[57] - The total cash and cash equivalents at the end of the period were 113,811,819.85 yuan, down from 156,207,359.35 yuan in the previous period[57] - The net cash flow from operating activities was -14,040,182.05, compared to 15,052,818.57 in the previous year, indicating a significant decline[60] - The net increase in cash and cash equivalents was -13,394,309.83, compared to an increase of 33,767,548.66 in the prior year[61] - The ending balance of cash and cash equivalents was 17,246,047.66, down from 39,907,226.78 year-over-year[61] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,792,787,346.37, an increase of 4.68% compared to the previous year[8] - Total assets rose to 2,792.79 million yuan from 2,668.03 million yuan at the end of the previous year[30] - Total liabilities increased to 1,250.58 million yuan from 1,064.74 million yuan at the end of the previous year[31] - Total liabilities decreased to CNY 15,661,515.21 from CNY 24,288,118.98, indicating a reduction of 35.5%[35] - The total equity attributable to shareholders of the parent company was CNY 1,542,204,005.64, down from CNY 1,602,499,905.75[34] Shareholder Information - The company reported a total of 28,831 shareholders at the end of the reporting period[12] - The largest shareholder, Zhangjiajie Economic Development Investment Group, holds 27.83% of the shares[12] - The company has not conducted any repurchase transactions among the top shareholders during the reporting period[13] Non-Recurring Gains and Other Income - The company recorded non-recurring gains of ¥10,916,456.35 during the reporting period[9] - Other income increased to CNY 3,793,409.17 from CNY 2,215,041.94, reflecting a growth of 70.9%[38] - Other income for the quarter increased to CNY 360,381.53 from CNY 127,598.55 in the previous year, showing improved performance in this area[42] - Other income increased to 729,689.67 yuan from 386,922.10 yuan in the previous period[50] Operational Challenges - The total number of ticket purchasers decreased by 65.09% to 172.58 million from 494.42 million year-on-year[16] - The revenue from the main subsidiaries showed significant declines, with the highest drop being 85.32% for the China Travel subsidiary[16] - The company reported a significant reduction in employee compensation payable, which fell to CNY 1,995,126.45 from CNY 6,132,595.43, a decrease of 67.5%[35] - The company plans to focus on market expansion and new product development to recover from the current downturn[42] Financial Reporting and Audit - The third-quarter report was not audited, which may affect the reliability of the financial data presented[63]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥35,816,233.25, a decrease of 78.93% compared to ¥169,988,689.83 in the same period last year[18]. - The net profit attributable to shareholders was a loss of ¥61,595,539.41, representing a decline of 846.21% from a profit of ¥8,254,485.64 in the previous year[18]. - The net cash flow from operating activities was negative at ¥107,750,697.84, a decrease of 1,357.64% compared to ¥8,567,704.94 in the same period last year[18]. - The basic earnings per share were -¥0.1522, down 846.08% from ¥0.0204 in the previous year[18]. - The company reported a significant decline in revenue, achieving 35.82 million yuan in the first half of 2020, a decrease of 78.93% compared to 169.99 million yuan in the same period last year[30]. - The net profit attributable to shareholders was -61.60 million yuan, down 846.21% from 0.83 million yuan in the previous year[30]. - The company reported a significant increase in other income, which rose to CNY 5,825,493.31 from CNY 1,855,451.90 year-on-year[122]. - The company reported a net loss of CNY 11,446,838.54 for the first half of 2020, compared to a net loss of CNY 8,679,979.39 in the same period of 2019, indicating a deterioration in financial performance[127]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,661,372,102.09, a slight decrease of 0.25% from ¥2,668,026,912.74 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 3.75% to ¥1,542,440,672.24 from ¥1,602,499,905.75 at the end of the previous year[18]. - The company's total assets amounted to CNY 1,498,701,684.92, slightly down from CNY 1,519,077,025.54 at the end of 2019[120]. - The company's total liabilities rose to CNY 1,118,139,926.77 from CNY 1,064,741,110.67, marking an increase of about 5.0%[115]. - Long-term borrowings increased to CNY 626,416,667.00 from CNY 494,916,667.00, which is an increase of approximately 26.6%[115]. - The company's total liabilities at the end of the reporting period were 1,324 million yuan[146]. Operational Impact of COVID-19 - The company faced significant risks due to the impact of the COVID-19 pandemic on the tourism industry[5]. - The number of passengers for the environmental passenger transport service dropped by 82.15%, with revenue falling by 79.25% to 12.77 million yuan[30]. - The number of visitors to Baofeng Lake decreased by 76.44%, with revenue down 78.58% to 4.41 million yuan[30]. - The company’s hotel revenue decreased by 51.89% to 3.33 million yuan, reflecting the impact of the pandemic on hotel operations[30]. - The company reported a significant reduction in user engagement metrics due to the impact of the COVID-19 pandemic on travel and tourism[152]. Shareholder Information - The total number of shares is 404,817,686, with 73,078,886 shares under limited sale conditions (18.05%) and 331,738,800 shares under unrestricted conditions (81.95%)[93]. - The largest shareholder, Zhangjiajie Economic Development Investment Group Co., Ltd., holds 27.83% of the shares, totaling 112,653,131 shares[95]. - The second-largest shareholder, Zhangjiajie Wulingyuan Tourism Industry Development Co., Ltd., holds 7.47% of the shares, totaling 30,239,920 shares[96]. - The total number of ordinary shareholders at the end of the reporting period is 25,710[95]. - The company will not distribute cash dividends or issue bonus shares for the half-year period[61]. Future Plans and Strategies - The company plans to enhance market marketing efforts to improve profitability and market share[57]. - The company aims to optimize its industrial structure and improve product quality and efficiency, focusing on key projects like the Dayong Ancient City[57]. - The company plans to allocate no less than 1 million yuan for poverty alleviation efforts throughout the year[84]. - The company is focusing on the development of new products and technologies to improve customer experience and operational efficiency[152]. - The company plans to focus on market expansion and new product development in the upcoming quarters[120]. Governance and Compliance - The company has established a corporate governance structure including a shareholders' meeting, board of directors, and supervisory board[156]. - The financial statements are prepared in accordance with the latest accounting standards issued by the Ministry of Finance, reflecting the company's financial position and operating results accurately[164]. - The company has made commitments to avoid competition with its controlling shareholder and ensure the independence of its operations[63]. Investment and Financing - The company raised CNY 183,500,000.00 through borrowings, an increase from CNY 147,300,000.00 in the first half of 2019, indicating a reliance on debt financing[132]. - The project is funded through bank loans, with a funding source percentage of 98.90%[45]. - The company is exploring potential mergers and acquisitions to enhance its market position and operational capabilities[120].

Financial Performance - The company's operating revenue for Q1 2020 was ¥10,909,525.46, a decrease of 79.90% compared to ¥54,266,913.74 in the same period last year[9] - The net profit attributable to shareholders was -¥36,717,801.31, representing a decline of 342.70% from -¥8,294,021.54 year-on-year[9] - The net cash flow from operating activities was -¥102,283,389.72, a significant drop of 313.36% compared to -¥24,744,360.76 in the previous year[9] - Basic and diluted earnings per share were both -¥0.0907, down 342.44% from -¥0.0205 in the same period last year[9] - The company achieved operating revenue of RMB 10.91 million in Q1 2020, down RMB 43.36 million or 79.90% year-on-year[17] - The net profit attributable to shareholders was -RMB 36.72 million, an increase in loss of RMB 28.42 million compared to -RMB 8.29 million in the same period last year[17] - The company's operating revenue for Q1 2020 was CNY 1,596,535.23, a decrease of 80.24% compared to CNY 8,084,928.05 in the same period last year[43] - The net profit for Q1 2020 was a loss of CNY 36,712,783.93, compared to a loss of CNY 8,608,143.63 in Q1 2019, reflecting a significant increase in losses[41] - The total comprehensive income for Q1 2020 was a loss of CNY 36,712,783.93, compared to a loss of CNY 8,608,143.63 in Q1 2019[41] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,651,287,865.32, a decrease of 0.63% from ¥2,668,026,912.74 at the end of the previous year[9] - The total liabilities as of March 31, 2020, were CNY 1,083,654,232.43, slightly up from CNY 1,064,741,110.67 at the end of 2019[32] - The total assets as of March 31, 2020, were CNY 2,651,287,865.32, down from CNY 2,668,026,912.74 at the end of 2019[32] - The total equity attributable to shareholders decreased to CNY 1,566,842,719.19 from CNY 1,602,499,905.75, a decline of 2.2%[32] - The total liabilities were recorded at 1,064,741,110.67 yuan, indicating a manageable debt level relative to assets[55] Visitor and Revenue Impact - The company received 150,600 ticketed visitors in Q1 2020, a decrease of 774,300 visitors or 83.72% compared to the same period last year[17] - The subsidiary "Environmental Passenger Transport" saw ticket sales drop by 87.02% to 65,500 visitors and revenue decline by 86.92% to RMB 2.32 million[17] - "Baofeng Lake" reported a visitor decrease of 82.77% to 15,200 and revenue drop of 78.62% to RMB 1.74 million[17] - "Ten-Mile Gallery" had a visitor decline of 79.97% to 36,800 and revenue decrease of 81.18% to RMB 1.28 million[17] - "Zhangjiajie International Hotel" reported revenue of RMB 1.41 million, down 54.99% from RMB 3.13 million in the previous year[17] Cash Flow and Investments - The company's cash and cash equivalents as of March 31, 2020, were RMB 94.97 million, down from RMB 130.86 million at the end of 2019[29] - The cash flow from financing activities generated a net inflow of 85,546,138.83 yuan, compared to 58,852,118.03 yuan in the previous period, indicating effective capital raising strategies[49] - The net cash flow from investment activities was 21,083,243.21 yuan, a turnaround from -388,901.17 yuan in the previous period, showing improved investment performance[52] - The company reported a significant decrease in sales revenue from 7,798,950.09 yuan to 1,879,764.00 yuan, reflecting challenges in revenue generation[51] Shareholder Information - The total number of common shareholders at the end of the reporting period was 26,300[12] - The largest shareholder, Zhangjiajie Economic Development Investment Group, held 27.83% of the shares[12] Accounting and Reporting - The company did not report any adjustments or restatements of prior year accounting data[9] - The company has not undergone an audit for the first quarter report, which may affect investor confidence[59] - The company has implemented new revenue and leasing standards starting in 2020, which may impact future financial reporting[59]

Financial Performance - The company's operating revenue for 2019 was ¥425,258,692.37, a decrease of 9.21% compared to ¥468,393,862.58 in 2018[18]. - The net profit attributable to shareholders for 2019 was ¥11,055,878.66, down 58.13% from ¥26,403,926.78 in 2018[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,257,707.45, a decline of 75.18% from ¥21,179,284.52 in 2018[18]. - The basic earnings per share for 2019 was ¥0.03, a decrease of 57.14% compared to ¥0.07 in 2018[18]. - The diluted earnings per share for 2019 was also ¥0.03, reflecting the same decline of 57.14% from ¥0.07 in 2018[18]. - The weighted average return on equity for 2019 was 0.69%, down from 1.69% in 2018[18]. - The company reported a net profit of 22,203,135 CNY from its subsidiary Cheng Tian Xia Huan, contributing over 10% to the overall net profit[80]. - Zhangjiajie Tourism Group reported a total revenue of 1.2 billion RMB for the fiscal year 2019, representing a year-over-year increase of 15%[170]. - The company achieved a net profit of 200 million RMB in 2019, which is a 10% increase compared to the previous year[170]. Cash Flow and Assets - The net cash flow from operating activities increased by 5.62% to ¥155,829,995.12 from ¥147,534,262.86 in 2018[18]. - The total assets at the end of 2019 were ¥2,668,026,912.74, representing a 6.89% increase from ¥2,495,979,397.73 at the end of 2018[18]. - The net assets attributable to shareholders at the end of 2019 were ¥1,602,499,905.75, an increase of 1.46% from ¥1,579,401,218.69 at the end of 2018[18]. - The cash and cash equivalents net increase was 11,895,496.73 CNY, compared to a decrease of 64,537,469.96 CNY in 2018[62]. - The company’s cash flow from operating activities showed a significant discrepancy compared to net profit, indicating potential liquidity issues[64]. Visitor Statistics and Revenue Streams - The total number of ticketed visitors in 2019 was 6.1827 million, an increase of 3.65% from 5.9649 million in 2018[33]. - The number of passengers for the environmental passenger transport segment decreased by 6.57% to 3.13 million, with revenue declining by 12.04% to CNY 149.70 million[42]. - The Yangjiajie cableway saw a remarkable increase in passenger numbers by 112.49% to 1.19 million, with revenue rising by 83.06% to CNY 64.65 million[42]. - The hotel service segment reported a revenue of CNY 16.09 million, a slight increase of 3.98% from CNY 15.47 million[47]. - The total revenue for the travel agency services decreased by 22.22% from 128,064,739.00 CNY in 2018 to 99,609,825.54 CNY in 2019[54]. Strategic Initiatives and Future Plans - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company is focused on the "one body, two wings" strategy, emphasizing tourism as the main business while integrating culture and sports[88]. - The company plans to strengthen market promotion and cost control to mitigate the adverse effects of the pandemic on its operations[90]. - The company aims to complete the separation of ticket pricing for environmental vehicles from core scenic area tickets in 2020, which is expected to enhance profitability[92]. - The company is actively pursuing the completion of the Dayong Ancient City project to ensure a successful opening and high-quality service standards[91]. Challenges and Market Conditions - The tourism industry is facing intensified competition, with external and internal challenges impacting the company's market position[87]. - The company recognizes the need to adapt to changing market dynamics, including the shift from traditional ticket sales to operational excellence in tourism[84]. - The company reported a significant loss of 8,726,678 CNY from its subsidiary Zhangjiajie International Hotel, indicating financial challenges in the hospitality sector[80]. Governance and Compliance - The company held 68 information disclosure sessions in 2019, ensuring transparency and compliance with regulatory requirements[39]. - The company has established a regular communication mechanism with investors to enhance transparency and engagement[40]. - The company has committed to ensuring that its stock issuance does not dilute immediate returns for shareholders[107]. - The company has maintained effective communication with shareholders, ensuring equal rights and transparency in decision-making processes[197]. Employee and Operational Management - The total number of employees in the company is 1,118, with 1,064 in major subsidiaries and 54 in the parent company[188]. - The company conducts training programs aimed at improving overall employee quality and enhancing work performance, with a focus on both pre-job and on-the-job training[193]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[198]. - The company adheres to a salary structure that includes basic salary, performance salary, and seniority salary, with a mix of annual and monthly salary systems[190]. Investment and Financial Strategy - The company is investing 200 million RMB in technology development to enhance customer experience and operational efficiency[163]. - The company is exploring potential acquisitions of local tourism firms to strengthen its market position[163]. - The company has committed to sustainable tourism practices, with plans to reduce operational carbon emissions by 15% by 2025[172].