宁夏西部创业实业股份有限公司 2021 年第一季度报告全文 证券代码：000557 证券简称：西部创业 公告编号：2021-018 宁夏西部创业实业股份有限公司 2021 年第一季度报告 2021 年 04 月 - 1 - 宁夏西部创业实业股份有限公司 2021 年第一季度报告全文 第一节 重要提示 | --- | |----------------------------------------------------------------| | | | 公司董事会、监事会及董事、监事、高级管理人员保证季度报告 | | 内容的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗 | | 漏，并承担个别和连带的法律责任。 | | 所有董事均已出席了审议本次季报的董事会会议。 | | 公司负责人何旭东、主管会计工作负责人王建成及会计机构负责 | | 人(会计主管人员 ) 王建成声明：保证季度报告中财务报表的真实、准 | 确、完整。 - 2 - 宁夏西部创业实业股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 ...

Revenue and Profitability - Over 90% of the company's revenue and profits come from railway transportation, indicating a high customer concentration risk[6] - The company's operating revenue for 2020 was ¥895,854,770.14, an increase of 11.99% compared to ¥799,911,229.37 in 2019[27] - Net profit attributable to shareholders for 2020 was ¥171,683,451.02, representing a significant increase of 283.29% from ¥44,792,379.54 in 2019[27] - The net profit after deducting non-recurring gains and losses was ¥183,391,478.60, up 22.11% from ¥150,181,875.64 in 2019[27] - The company's transportation service revenue accounted for 98.60% of total revenue, with a year-on-year growth of 13.88%[57] - The hotel service revenue decreased by 78.41% compared to 2019, primarily due to the impact of the pandemic[57] - The company reported a gross margin of 34.19% for transportation services, an increase of 7.67% from the previous year[60] Strategic Focus and Business Development - The company has outlined its strategic focus on expanding its railway operations and logistics services in the coming years[24] - The company plans to actively expand its business cooperation and logistics services, including coal transportation and other logistics businesses[112] - The company aims to optimize its raw liquor sales strategy and explore market potential both within and outside the region[115] - The company is focusing on enhancing its logistics service radius and diversifying its service offerings, including fine chemicals and management services[112] - The company plans to enhance its railway transportation capabilities, focusing on technology upgrades and improving service quality to capture new market opportunities in the coal transportation sector[106] Financial Management and Reporting - The company emphasizes the importance of accurate financial reporting and has declared the completeness and accuracy of its annual report[4] - The report does not provide specific earnings forecasts for 2021, highlighting the uncertainty in future performance[5] - The company has not distributed any cash dividends in the past three years, with a net profit of CNY 171,683,451.02 in 2020, but no cash dividend proposal was made[123] - The company has not proposed any capital reserve conversion into share capital during the reporting period[126] - The company implemented new revenue recognition standards starting January 1, 2020, which unified the revenue recognition model for transportation services and product sales[152] Risks and Challenges - The company faces significant impacts from changes in the coal industry and customer demand, which could affect operational results[6] - The report highlights the need for investors to be aware of risks and uncertainties that may affect future performance[5] - The company faces risks related to market environment changes in the coal industry, customer concentration, and potential government price adjustments for railway transportation[107] - The company is currently in the foundational stage of its supply chain business, facing uncertainties in market environment and industry policies, as well as a shortage of professional talent[112] Operational Efficiency and Cost Management - The company aims to implement cost management strategies and optimize transportation organization to improve efficiency and maintain stable service levels[109] - The sales expenses decreased by 16.37% to ¥1,884,274.09 due to a reduction in sales personnel commissions caused by a decline in sales volume[73] - The management expenses increased by 11.64% to ¥70,597,180.86, attributed to the establishment of new functional departments in subsidiaries[73] Subsidiaries and Investments - The company operates several wholly-owned subsidiaries, including Ningdong Railway Co., Ltd. and Dagu Logistics Co., Ltd.[11] - The company established a new subsidiary, Xichuang Yuntong, with an investment of ¥30 million, which began operations in June 2020, although it did not significantly impact overall performance during the reporting period[102][100] - The total assets of the subsidiary Ningdong Railway were reported at ¥4,589,936,044.99, with a net profit of ¥213,431,581.96, contributing significantly to the company's overall performance[97] Legal and Compliance Matters - The company is currently involved in litigation with a claim amount of CNY 30.43 million, which is still in the execution phase[162] - The company faced a lawsuit from Beijing Runmu Wealth Investment Management Group, which was ultimately dismissed by the court[166] - The company has not faced any bankruptcy reorganization matters during the reporting period[159] - There were no significant related party transactions outside of daily operations reported for the year[177] Research and Development - The R&D expenses amounted to ¥2,421,309.85, representing 0.27% of operating revenue, with a 100% increase compared to the previous year[77] - The number of R&D personnel increased to 13, representing 0.99% of the total workforce, marking a 100% increase from the previous year[77] - The company is developing an innovative project for a "Rail Transit Remote Control System," which has been recognized for its breakthrough application and significant economic and social benefits[76] Corporate Governance and Independence - The company has committed to ensuring the independence of its financial operations and management[139] - There are no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[148] - The company guarantees that its senior management will not hold positions outside the listed company, ensuring independence[139] - The company has established an independent financial department and accounting system[139] - The company will not engage in any transactions that could harm the interests of the listed company and its shareholders[142]

Financial Performance - Net profit attributable to shareholders increased by 218.68% to CNY 65,566,677.11 for the reporting period[8] - Operating income for the period was CNY 231,330,629.02, reflecting a year-on-year increase of 12.21%[8] - Basic earnings per share rose by 218.47% to CNY 0.0449[8] - The company reported a net profit of CNY 139,345,469.37 for the year-to-date, a significant increase of 1,165.20%[8] - Total operating revenue for the third quarter was ¥231,330,629.02, an increase of 12.2% compared to ¥206,159,022.19 in the same period last year[66] - Net profit for the quarter reached ¥65,566,677.11, a significant recovery from a net loss of ¥55,248,565.29 in the previous year[66] - Net profit for the current period was ¥139,345,469.37, significantly up from ¥11,013,676.35 in the previous period, marking an increase of approximately 1165.5%[73] - Total comprehensive income for the current period was ¥281,182,091.60, a recovery from a loss of ¥23,280,312.23 in the previous period[77] Cash Flow - Net cash flow from operating activities surged by 381.64% to CNY 110,622,492.41[8] - Net cash flow from operating activities increased by 72.71% to ¥196,447,515.68, driven by higher revenue and reduced VAT payments due to social security exemptions during the pandemic[23] - Cash flow from operating activities generated a net amount of ¥196,447,515.68, compared to ¥113,744,182.52 in the previous period, indicating a growth of about 72.5%[80] - The net cash flow from operating activities was -7,350,395.74 yuan, a significant decrease compared to 21,779,470.38 yuan in the previous period[83] - The company reported a significant decrease in cash inflow from operating activities, with cash received from other operating activities dropping to 13,463,700.17 yuan from 45,865,983.18 yuan[83] Assets and Liabilities - Total assets increased by 3.21% to CNY 5,451,716,845.79 compared to the end of the previous year[8] - The total liabilities of the company as of September 30, 2020, were ¥337,676,745.07, compared to ¥307,535,106.93 at the end of 2019, indicating an increase of approximately 9.8%[56] - The total liabilities amounted to 307,535,106.93 yuan, remaining unchanged from the previous period[91] - The total equity attributable to shareholders reached ¥5,114,040,100.72, up from ¥4,974,694,631.35, marking an increase of about 2.8%[56] - The total liabilities to equity ratio stands at approximately 4.18, indicating a high level of leverage[64] Shareholder Information - The total number of shareholders at the end of the reporting period was 57,701[12] - The largest shareholder, Ningxia State-owned Capital Operation Group, holds 29.47% of the shares[12] Investments and Transactions - The company engaged in related party transactions amounting to 4,200.49 million yuan, accounting for 4.95% of similar transactions[34] - The company has a planned related party transaction limit of 7,900 million yuan, which has not been exceeded[34] - The company has not engaged in any securities investments during the reporting period[42] - The company has plans for market expansion and investment in new subsidiaries, as indicated in their announcements[38] Legal Matters - The company is involved in a legal dispute with Yinchuan Ruisi Trading Co., which has resulted in a court ruling for the payment of 7.83 million yuan in service fees and 586,400 yuan in penalties[30] - The company has initiated a lawsuit against Xibu Chuangye for failing to fulfill liquidation obligations, claiming 1.85 million yuan in debt principal and interest[30] - The company has reported no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[41] Financial Management - The company did not engage in any repurchase transactions during the reporting period[15] - The company has not implemented any share repurchase plans during the reporting period[37] - The company has not reported any violations regarding external guarantees during the reporting period[45] Accounting Standards - The company executed new revenue and leasing standards starting January 1, 2020, which required adjustments to the financial statements[86] - The company adopted new revenue recognition standards starting January 1, 2020, impacting the presentation of financial data[97] - The company continues to focus on compliance with new accounting standards to enhance financial reporting accuracy[97]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 365,915,129.20, a decrease of 0.08% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 73,778,792.26, an increase of 11.34% year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 79,724,462.85, reflecting a growth of 22.49% compared to the previous year[23]. - The basic earnings per share increased to CNY 0.0506, up 11.45% year-on-year[23]. - The railway transportation business generated CNY 360,266,789.00, accounting for 98.46% of total revenue, with a year-on-year growth of 7.37%[47]. - Net profit attributable to shareholders increased by 11.34% to CNY 7,377.88 million from CNY 6,626.22 million year-on-year[42]. Cash Flow and Assets - The net cash flow from operating activities was CNY 85,825,023.27, down by 5.45% from the same period last year[23]. - Cash and cash equivalents at the end of the reporting period were ¥847,261,695.59, which is 15.77% of total assets, an increase of 2.53% from the previous year[53]. - The company's cash and cash equivalents increased to CNY 847,261,695.59 from CNY 765,217,276.15, reflecting a growth of about 10.3%[193]. - Total assets at the end of the reporting period were CNY 5,372,599,031.74, representing a 1.71% increase from the end of the previous year[23]. - The total current assets reached CNY 1,267,996,535.22, up from CNY 1,165,414,485.70, indicating an increase of approximately 8.9%[193]. Liabilities and Equity - Current liabilities totaled CNY 286,011,772.94, an increase from CNY 269,364,165.76 in the previous period, reflecting a growth of approximately 6.1%[197]. - Total liabilities amounted to CNY 324,125,608.13, up from CNY 307,535,106.93, indicating a rise of about 5.4%[197]. - Total equity attributable to shareholders increased to CNY 5,048,473,423.61 from CNY 4,974,694,631.35, representing a growth of approximately 1.5%[197]. Operational Changes and Strategies - The company plans not to distribute cash dividends or issue bonus shares[7]. - The hotel business has been leased out for a period of 10 years, indicating a strategic shift in operations[33]. - The company aims to enhance safety and efficiency in railway operations by expanding network functions and promoting the "road-to-rail" policy[69]. - The company plans to integrate resources across transportation, supply, and sales to transition from traditional railway transport to supply chain management, including coal trading and logistics services[74]. - The company is actively seeking to improve its operational model and increase asset yield by leasing out the Century Grand Hotel[82]. Challenges and Risks - The company emphasizes the importance of understanding the risks and uncertainties that may affect future performance[6]. - The company faces risks in railway transportation due to market changes in the coal industry and customer concentration, which may impact revenue and profit[66]. - The wine business faces significant challenges, including a large inventory of raw wine and a decline in sales revenue and profit due to the COVID-19 pandemic[76]. - The hotel and catering business has been severely impacted by the COVID-19 pandemic, leading to a significant reduction in revenue as operations were largely suspended[81]. Corporate Governance and Compliance - The company has established an independent financial department and accounting system to ensure financial independence[92]. - The company guarantees that it will not interfere with the business activities of the listed company, maintaining operational independence[92]. - The company has committed to ensuring that the listed company has independent assets and capabilities for continuous operation[92]. - The company has established a complete corporate governance structure to ensure independent decision-making[92]. - The company has committed to minimizing related party transactions and ensuring fair pricing in necessary transactions[92]. Legal Matters - The company has no major litigation or arbitration matters during the reporting period[99]. - The lawsuit involving Western Entrepreneurship and Ningxia Hezang Shengshi Wine Industry Development Company has a disputed amount of CNY 304,300, which includes CNY 172,500 for goods, CNY 22,700 for labeling fees, CNY 81,400 for packaging material losses, and CNY 27,700 for penalties[102]. - The court ruled that Ningxia Shenguang Coal Industry Company must pay CNY 4,379,500 for coal payments and CNY 388,200 in interest, totaling CNY 4,767,700[105]. - The company has ongoing litigation with Dagu Logistics regarding a coal trade dispute, with a total claim amount of CNY 599,120[105]. Shareholder Information - The total number of shares is 1,458,374,735, with 99.97% being unrestricted shares[161]. - The largest shareholder, Ningxia State-owned Capital Operation Group Co., Ltd., holds 29.47% of the shares, totaling 429,820,178 shares[163]. - The second-largest shareholder, China Cinda Asset Management Co., Ltd., holds 15.71% of the shares, totaling 229,163,673 shares[163]. - The company has not issued new shares or conducted any share buybacks during the reporting period[164]. - The total number of shareholders at the end of the reporting period is 63,239[163].

证券代码：000557 证券简称：西部创业 公告编号：2020-026 宁夏西部创业实业股份有限公司关于举行 2020 年投资者网上集体接待日活动的公告 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。 为便于广大投资者更深入全面地了解公司情况、发展战 略、经营状况、融资计划、股权激励、可持续发展等投资者 关心的问题，公司定于2020年 7月9日（星期四）14:30-16:30 举行"2020 年投资者网上集体接待日"活动。现将有关事项 公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提 供的网上平台采取网络远程的方式举行。投资者可以登录 "宁夏辖区上市公司投资者关系互动平台"（http://rs.p5w.net） 参与交流。 公司出席本次网上集体接待日活动的人员有：总经理陈 存兵、财务总监王建成、董事会秘书刘登昭和证券事务代表 紫小平。 欢迎广大投资者积极参与。 特此公告。 1 宁夏西部创业实业股份有限公司董事会 2020 年 7 月 4 日 2 ...

Financial Performance - The company's operating revenue for Q1 2020 was ¥202,517,687.04, representing a 9.51% increase compared to ¥184,922,608.11 in the same period last year[8] - Net profit attributable to shareholders for Q1 2020 was ¥46,776,949.71, a significant increase of 62.73% from ¥28,745,069.45 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥49,617,724.01, up 73.37% from ¥28,618,807.97 year-on-year[8] - Basic earnings per share for Q1 2020 were ¥0.0321, reflecting a 62.94% increase from ¥0.0197 in the previous year[8] - The company's total profit for the current period was ¥57,177,901.86, an increase of 61.5% from ¥35,402,783.95 in the previous period[65] Cash Flow - The net cash flow from operating activities reached ¥58,221,722.99, a remarkable increase of 736.64% compared to -¥9,145,166.33 in the same period last year[8] - The net cash flow from operating activities was -5,266,173.62, slightly improved from -5,329,253.79 in the previous period, indicating a marginal reduction in cash outflow[78] - Cash received from operating activities totaled 3,346,436.47, an increase from 2,771,652.89 in the prior period, reflecting a growth of approximately 20.7%[78] - The net cash flow from investing activities was 1,500,000.00, down from 30,000,000.00 in the previous period, indicating a significant decrease of 95%[78] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,406,399,819.60, a 2.35% increase from ¥5,282,229,738.28 at the end of the previous year[8] - Total liabilities reached CNY 384,928,238.54, an increase from CNY 307,535,106.93, marking a growth of around 25.19%[55] - The total equity attributable to shareholders was CNY 5,021,471,581.06, up from CNY 4,974,694,631.35, reflecting an increase of about 0.94%[55] - The company reported a retained earnings deficit of ¥1,693,803,674.26, reflecting accumulated losses[90] Shareholder Information - The total number of common shareholders at the end of the reporting period was 49,581, with the top ten shareholders holding a combined 59.01% of the shares[13] - The largest shareholder, Ningxia State-owned Capital Operation Group, held 29.47% of the shares, amounting to 429,820,178 shares[13] Expenses - The financial expenses decreased by 34.45% to -¥2,027,803.94, attributed to an increase in interest income from cash deposits[25] - The sales expenses decreased by 33.22% to ¥323,805.48, due to lower compensation for sales personnel compared to the same period last year[25] - The income tax expense increased by 56.22% to ¥10,400,952.15, driven by an increase in taxable income[25] Legal and Compliance - The company is involved in a legal dispute with Yinchuan Ruisi Commerce Co., Ltd. regarding unpaid parking service fees totaling 7.83 million yuan and a penalty of 586,400 yuan[31] - The company has not engaged in any securities investment, entrusted financial management, or derivative investments during the reporting period[43][45] - The first quarter report for 2020 was not audited, indicating a lack of external verification for the financial data presented[94] Related Party Transactions - The company reported a total of 1,379.27 million yuan in related party transactions, accounting for 5.59% of similar transaction amounts[34] - The company provided railway transportation services to Huadian Ningxia Lingwu Power Generation Co., Ltd. at a price of 0.19 yuan per ton-kilometer[34] - The company has not exceeded the approved transaction limit of 4,600 million yuan for related party transactions[34] Operational Insights - The company has not disclosed any new product developments or market expansion strategies in the provided documents[92] - There is no mention of mergers or acquisitions in the financial reports or conference call content[92]

Financial Performance - The company's operating revenue for 2019 was ¥799,911,229.37, an increase of 5.12% compared to ¥760,941,838.32 in 2018[25]. - The net profit attributable to shareholders for 2019 was ¥44,792,379.54, a decrease of 69.60% from ¥147,362,646.50 in 2018[25]. - The net profit after deducting non-recurring gains and losses was ¥150,181,875.64, an increase of 10.74% from ¥135,611,853.49 in 2018[25]. - The net cash flow from operating activities for 2019 was ¥173,056,016.35, down 26.80% from ¥236,417,088.87 in 2018[25]. - The total assets at the end of 2019 were ¥5,282,229,738.28, a decrease of 8.51% from ¥5,773,445,668.65 at the end of 2018[25]. - The net assets attributable to shareholders at the end of 2019 were ¥4,974,694,631.35, an increase of 0.93% from ¥4,928,862,103.51 at the end of 2018[25]. - The basic earnings per share for 2019 was ¥0.03, a decrease of 70.00% from ¥0.10 in 2018[25]. - The diluted earnings per share for 2019 was also ¥0.03, reflecting the same decrease of 70.00% from ¥0.10 in 2018[25]. - The weighted average return on equity for 2019 was 0.90%, down from 3.60% in 2018, a decrease of 2.70%[25]. Revenue Sources - The company reported that over 90% of its revenue and profits come from railway transportation, indicating a high customer concentration and significant impact from coal industry demand fluctuations and freight rate adjustments[6]. - The company's revenue and profit are over 90% derived from railway transportation, primarily transporting coal[31]. - The railway transportation segment generated CNY 735.92 million, accounting for 92.00% of total revenue, with a year-on-year growth of 7.60%[54]. - In 2019, revenue from the top five customers accounted for 70.76% of the company's total revenue, indicating a high customer concentration risk[89]. - The company's major customers accounted for 70.76% of total sales, with related party sales making up 57.93% of that amount[60]. Operational Challenges - The company emphasizes the uncertainty of its future performance due to market conditions and operational efforts, urging investors to be aware of potential risks[6]. - The company has a high dependency on the coal industry, which poses risks to its operational results[6]. - The company has not made any forward-looking commitments regarding its operational plans for 2020[6]. - The logistics subsidiary, Dagu Logistics, faced severe financial issues leading to a bankruptcy application, which was rejected, impacting its operations significantly[96]. - The wine business faces challenges with a significant decline in sales, with major competitors experiencing revenue drops of 8.66% and 13.32% respectively in 2019[98]. Strategic Plans - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[7]. - The company plans to expand its railway network and enhance service levels to become a leading modern transportation enterprise in Northwest China[88]. - The logistics business aims to integrate information technology and railway resources, with a focus on coal and chemical logistics, and is expected to grow with the development of the Ningdong Energy and Chemical Base[93]. - The company plans to optimize its product structure and expand sales channels to increase bottled wine sales and improve market presence[101]. - The company aims to enhance safety measures and risk management in its operations, particularly in railway transport[92]. Related Party Transactions - The company has a total approved transaction limit of 5,500.00 million CNY for related transactions, with actual transactions amounting to 4,394.15 million CNY[166]. - The company’s related party transactions include providing railway transportation services at a price of 0.19 CNY per ton-kilometer[166]. - The company has a total of 19,614.15 million yuan in related party debts owed to Xinda Asset, with no interest accrued[173]. - The company’s related party transactions include a total of 6,429.50 million yuan owed to Huadian International, with no interest accrued[173]. - The company’s related party transactions with Ningxia Coal Industry amount to 6,467.37 million yuan, with no interest accrued[173]. Corporate Governance - The company’s registered address is located in Yinchuan, Ningxia Hui Autonomous Region, with a postal code of 750002[17]. - The company’s stock is listed on the Shenzhen Stock Exchange under the code 000557[17]. - The company’s legal representative is Li Guanglin, and the board secretary is Liu Dengzhao[18]. - The company has committed to fulfilling its obligations as per the restructuring agreement[124]. - The company guarantees the independence of the listed company's management, ensuring that senior executives are exclusively employed by the listed company and do not hold positions in other related entities[121]. Investor Relations - The company has received a total of 86 inquiries from investors regarding operational performance and other matters during the reporting period[106]. - The company has not disclosed any significant undisclosed information during its investor communications[106]. - The company has not faced any bankruptcy reorganization matters during the reporting period[150]. - The company has not issued a non-standard audit report for the reporting period[127]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[161]. Legal Matters - The company is currently involved in a lawsuit with Ningxia Hezang Shengshi Winery, with a disputed amount of 304.3 thousand[151]. - The company has a legal case against Yin Chuan Rui Suo Trading Co., Ltd. for unpaid transportation fees, with a judgment requiring payment of 783.31 million CNY in service fees and 58.64 million CNY in penalties[160]. - The company has been included in the list of dishonest persons subject to enforcement due to unresolved legal disputes[160]. - The company is in the process of executing a judgment against Ningxia Shengu Coal Industry for a total amount of 476.77 thousand[156]. - The company faced a legal dispute with Ningxia Fahe Jiajin Import and Export Trade Co., Ltd., with a contract amount of 2.59 million CNY, which was ultimately dismissed by the court[160]. Financial Adjustments - The company has executed new financial instrument standards starting from January 1, 2019, leading to adjustments in accounting policies[130]. - The adjustment in the consolidated balance sheet as of December 31, 2018, includes a reduction of 349.62 million yuan in receivables[130]. - The expected credit loss method has been adopted for financial asset impairment accounting starting from 2019[130]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[127]. - The company has not faced any situations that would lead to suspension or termination of listing[150]. Social Responsibility - The company is actively participating in poverty alleviation efforts in Ningxia, implementing targeted assistance in multiple villages[200].

宁夏西部创业实业股份有限公司 2019 年第三季度报告全文 宁夏西部创业实业股份有限公司 2019 年第三季度报告 2019-047 2019 年 10 月 1 宁夏西部创业实业股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 薄其明 董事 出差 张丽宁 公司负责人李广林、主管会计工作负责人王建成及会计机构负责人(会计主 管人员)蔡永平声明：保证季度报告中财务报表的真实、准确、完整。 2 宁夏西部创业实业股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | --- | --- | --- | --- | --- | |-------------------------------------------------- ...

Tax Issues and Investigations - The company reported a significant tax-related issue involving its wholly-owned subsidiary, Ningxia Dagu Logistics Co., which is currently under investigation by the local tax authority[6]. - As of June 30, 2019, the financial statements did not accurately reflect the financial status and operating results of the company due to the unresolved tax matter[9]. - The tax and penalty involved in the tax administrative punishment notice is approximately CNY 1.03 billion, which may adversely affect the net profit of the company for the year 2019 if the tax authority confirms the tax issues related to Dagu Logistics[71]. - Dagu Logistics has submitted defense materials and a hearing application to the tax authority, aiming to reduce tax risks and protect its rights[72]. - The company is facing a potential tax penalty and back payment risk of approximately CNY 103 million related to tax issues involving Dagu Logistics[95]. - Dagu Logistics received 450 VAT invoices totaling CNY 52.48 million from Beijing Meilong Kangyuan Trading Co., Ltd., which are suspected of being fraudulent[95]. - The board of directors has mandated Dagu Logistics to conduct a self-examination of its coal trading operations and to cooperate with tax authorities[98]. - The board will continue to monitor the tax issue's progress and take necessary measures to mitigate potential impacts on the company and its investors[98]. - The board emphasizes the importance of compliance and protecting the company's and investors' interests amid the ongoing tax investigation[98]. Financial Performance - The company's operating revenue for the reporting period was ¥366,211,217.95, an increase of 6.84% compared to the same period last year[47]. - The net profit attributable to shareholders was ¥66,262,241.64, representing a growth of 30.85% year-on-year[47]. - The net cash flow from operating activities reached ¥90,776,511.60, a significant increase of 121.19% compared to the previous year[47]. - The basic earnings per share were ¥0.0454, up 30.84% from the same period last year[47]. - Total assets decreased by 9.32% to ¥5,235,445,138.96 compared to the end of the previous year[47]. - The company's cash and cash equivalents increased by 267.50% to ¥256,003,816.84 due to receiving performance compensation from shareholders[47]. - The company's operating costs rose by 18.81% to ¥256,880,697.40, attributed to reclassifying some employee compensation into operating costs[47]. - The company reported a significant decrease in management expenses by 48.86% to ¥29,245,898.07 due to the same reclassification[47]. - The company reported a net loss of CNY 930,469,897.30 as of June 30, 2019, compared to a net loss of CNY 996,732,138.94 at the end of 2018[194]. Business Strategy and Future Outlook - The company emphasizes the uncertainty of its future business plans and the potential risks that could impact performance[10]. - The company has not provided a concrete profit forecast for 2019, highlighting the unpredictability of market conditions[10]. - The company has not indicated any plans for market expansion or mergers and acquisitions in the current reporting period[10]. - The company has not disclosed any new product developments or technological advancements in this report[10]. - The company plans to enhance service quality and optimize production processes to mitigate risks associated with market fluctuations and pricing adjustments[68]. - The company plans to enhance marketing capabilities and optimize product structure to address the challenges in the wine business[74]. - The hotel and catering business is struggling with a lack of professional management talent and weak market competitiveness[77]. - The company aims to innovate management concepts and expand operational scale in the hotel and catering sector[78]. Shareholder and Equity Information - The total number of shares is 1,458,374,735, with 59.87% being restricted shares and 40.13% being unrestricted shares[159]. - The largest shareholder, Ningxia State-owned Capital Operation Group Co., Ltd., holds 29.47% of the shares, totaling 429,820,178 shares[163]. - The second-largest shareholder, China Cinda Asset Management Co., Ltd., holds 15.71% of the shares, totaling 229,163,673 shares[163]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period[169]. - There has been no change in the controlling shareholder during the reporting period[170]. - The company reported a total of 872,670,984 shares held by state-owned legal persons, accounting for 59.84% of the total shares[159]. - The number of shareholders holding more than 5% of the shares is 10, with a total of 53,566 ordinary shareholders[163]. - The top 10 unrestricted ordinary shareholders collectively hold 43,000,000 shares, with the largest individual holding being 7,782,224 shares[168]. Compliance and Governance - The board of directors has confirmed the accuracy and completeness of the financial report, although independent directors expressed concerns about its reliability[5]. - The company has made commitments regarding avoiding competition with related parties and ensuring compliance with performance guarantees related to asset restructuring[85]. - The company has fulfilled its commitments regarding performance compensation arrangements, ensuring a cumulative net profit of no less than CNY 1 billion over three consecutive fiscal years following the asset acquisition[85]. - The company has committed to maintaining the independence of its financial operations and governance structure[91]. - The company ensures that its senior management will not hold positions in related parties, maintaining operational independence[91]. - The company has established a complete and independent financial accounting system[91]. - The company guarantees that it will not engage in related party transactions unless absolutely necessary and will adhere to fair market conditions[91]. - The company has not received any administrative penalties or decisions from tax authorities as of the report date[98]. Risks and Challenges - The company continues to face various risks that could affect its performance, which investors are advised to consider carefully[11]. - The company faces risks in the railway transportation sector due to high customer concentration, with the top five customers accounting for 74.98% of revenue[67]. - The wine business faces risks including low brand influence and high inventory levels, which could lead to significant price decline risks and unstable profitability[73]. - The company has not reported any significant changes in the integrity status of its controlling shareholders or actual controllers[109]. - The company has not experienced any major asset restructuring or significant changes in its operational strategies during the reporting period[111]. Miscellaneous - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[11]. - During the reporting period, the first extraordinary general meeting had a participation rate of 5.28%, while the annual general meeting had a participation rate of 55.15%[81]. - The company has not undergone any bankruptcy reorganization during the reporting period[99]. - There are no significant litigation or arbitration matters reported during the reporting period[100]. - The company has no significant environmental protection issues and is not listed as a key pollutant unit[141]. - The company has not made any financial contributions to poverty alleviation as of the reporting period[145]. - The company plans to invest 600,000 in poverty alleviation efforts, specifically for purchasing agricultural machinery for designated poverty alleviation villages[146].

Revenue and Profitability - The company reported that over 90% of its revenue and profits come from railway transportation, indicating a high customer concentration risk[6]. - The company's operating revenue for 2018 was ¥760,941,838.32, representing a 15.36% increase from ¥659,644,140.31 in 2017[26]. - Net profit attributable to shareholders for 2018 was ¥147,362,646.50, a significant increase of 69.39% compared to ¥86,994,814.66 in 2017[26]. - The net profit after deducting non-recurring gains and losses was ¥135,611,853.49, up 79.68% from ¥75,474,977.22 in 2017[26]. - The railway transportation segment generated CNY 683.95 million, accounting for 89.88% of total revenue, with a 13.88% increase compared to the previous year[52]. - The logistics business saw a revenue increase driven by coal transportation services, contributing to overall growth[49]. - The hotel and catering business reported profitability due to enhanced marketing and service initiatives[39]. - The company achieved a revenue of CNY 760.94 million in 2018, a 15.36% increase from CNY 659.64 million in 2017[49]. Financial Performance - The company's total assets at the end of 2018 reached ¥5,773,445,668.65, a 14.46% increase from ¥5,043,964,812.09 at the end of 2017[26]. - The net assets attributable to shareholders increased by 22.49% to ¥4,928,862,103.51 from ¥4,023,745,775.34 in 2017[26]. - Basic earnings per share for 2018 were ¥0.10, reflecting a 66.67% increase from ¥0.06 in 2017[26]. - The weighted average return on net assets was 3.60% in 2018, up from 2.19% in 2017[26]. - The net cash flow from operating activities for 2018 was ¥236,417,088.87, a decrease of 21.71% compared to ¥301,960,438.53 in 2017[26]. - The company reported a total of ¥11,750,793.01 in non-recurring gains and losses for 2018, compared to ¥11,519,837.44 in 2017[34]. Audit and Compliance - The company has received a qualified audit opinion from its accounting firm, which requires investor attention regarding the related matters[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[5]. - The company emphasizes the uncertainty of its future operational plans due to market conditions and team efforts[5]. - The company received a "qualified opinion" audit report from the accounting firm, primarily concerning tax issues related to Dagu Logistics[126]. - The accounting firm has been retained for three consecutive years, with an audit fee of 400,000 CNY for the current period[137]. Customer and Supplier Concentration - The company’s revenue from the top five customers accounted for 74.98% of total revenue, indicating a high customer concentration risk[90]. - The total procurement amount from the top five suppliers is ¥112,392,187.71, accounting for 25.27% of the annual total procurement[63]. - The largest supplier, China Railway Oil Co., Ltd., contributed ¥56,443,757.50, representing 12.69% of the total procurement[63]. Operational Challenges and Strategies - The company highlighted that changes in the coal industry and customer demand significantly impact its operational results[6]. - The company has detailed its future development challenges, risks, and countermeasures in the report, urging investors to be cautious[6]. - The company is facing challenges such as a lack of professional hotel management talent and weak market competitiveness, necessitating innovation in marketing strategies and management concepts[104]. - The company plans to engage with professional hotel management institutions to explore franchise and entrusted management models[105]. - The company aims to optimize service projects and innovate business formats to enhance management levels and expand operational scale[105]. Investments and Future Plans - The company plans to increase railway transport volume to 46 million tons in 2019, representing a 2.20% growth from 45.01 million tons in 2018[91]. - The company plans to invest 600,000 yuan in poverty alleviation funds in 2019, primarily for purchasing agricultural machinery for designated poverty alleviation villages[189]. - The company has signed a cooperation framework contract for a grape planting base with Ningxia International Wine Trading Expo Center[165]. Legal and Litigation Matters - The company has ongoing litigation involving a contract dispute with Ningxia Hezang Shengshi Wine Industry, with a claim amount of 304,274.85 CNY[143]. - A total of 433.41 CNY million is involved in a lawsuit with Inner Mongolia Nengjian Property Co., which has resulted in the recognition of a contingent liability[143]. - The company is actively managing its litigation risks and has reported no expected liabilities from ongoing cases[143]. - The company has reached a settlement agreement in a dispute with Inner Mongolia Nengjian Property Co., which includes scheduled payments[143]. Corporate Governance and Commitments - The company has made commitments regarding performance guarantees, ensuring a cumulative net profit of no less than 1 billion yuan over three consecutive fiscal years following the acquisition[114]. - The company guarantees that its senior management will only serve in the listed company and will not hold positions in other related enterprises[120]. - The company has committed to avoiding any business activities that compete with the listed company after the completion of the major asset restructuring[117]. - The company has established a framework to ensure that the listed company can make independent financial decisions without interference[120]. Social Responsibility and Community Engagement - The company is actively involved in targeted poverty alleviation efforts in Ningxia, focusing on specific villages[180]. - A total of 294,400 yuan was invested in 2018 for purchasing agricultural machinery to assist poverty alleviation efforts in designated villages[185]. - The total amount invested in poverty alleviation efforts reached 294,400 yuan, with 264,400 yuan allocated to industrial development projects and 30,000 yuan for improving educational resources in impoverished areas[186].