Financial Performance - The company's operating revenue for the first half of 2022 was ¥236,277,544.63, a decrease of 5.98% compared to ¥251,313,849.64 in the same period last year[19]. - The net loss attributable to shareholders was ¥48,542,526.23, representing a significant increase of 169.72% from a loss of ¥17,997,399.78 in the previous year[19]. - The net cash flow from operating activities was -¥131,580,331.94, which is a decline of 14.75% compared to -¥114,665,011.82 in the same period last year[19]. - The basic earnings per share were -¥0.2050, a decrease of 169.38% from -¥0.0761 in the previous year[19]. - The total assets at the end of the reporting period were ¥2,192,568,830.12, down 1.06% from ¥2,216,158,784.58 at the end of the previous year[19]. - The company's total revenue for the reporting period was ¥236,277,544.63, a decrease of 5.98% compared to ¥251,313,849.64 in the same period last year[33]. - The cost of sales increased by 10.50% to ¥243,629,062.38 from ¥220,472,492.59, leading to a negative impact on profitability[33]. - The revenue from the trade sector rose by 27.64% to ¥180,087,848.81, accounting for 76.22% of total revenue[35]. - The hotel sector's revenue decreased by 33.51% to ¥19,703,831.06, while the travel agency business saw a significant decline of 54.73% to ¥36,485,864.76[35]. - The company reported a total comprehensive income of -20,651,171.42 yuan for the first half of 2022, compared to -9,273,180.28 yuan in the same period of 2021, indicating worsening financial performance[143]. Cash Flow and Financing - The net cash flow from operating activities was negative at -¥131,580,331.94, worsening by 14.75% compared to -¥114,665,011.82 from the previous year[33]. - The company's cash and cash equivalents decreased by 109.03% to -¥8,377,841.35, primarily due to cash flow impacts from investment and financing activities[33]. - The company raised 425,000,000.00 yuan through borrowings in the first half of 2022, compared to 510,000,000.00 yuan in the same period of 2021, reflecting a decrease in financing activities[143]. - The net cash flow from financing activities was 36,769,154.59 yuan, a significant drop from 361,437,815.00 yuan in the first half of 2021, indicating reduced financing capacity[143]. - The ending balance of cash and cash equivalents was 456,565,196.18 yuan, down from 464,943,037.53 yuan at the beginning of the period, showing a decrease in liquidity[143]. Assets and Liabilities - The company's total liabilities increased to CNY 764,985,923.99 from CNY 749,406,754.62, indicating a rise in financial obligations[137]. - The total equity decreased to CNY 856,390,383.78 from CNY 877,041,555.20, reflecting a reduction in shareholder value[137]. - The company's total assets at the end of the first half of 2022 were approximately 7.94 billion yuan, reflecting a slight increase from 7.22 billion yuan at the end of the first half of 2021[148]. - The total liabilities of the company at the end of the first half of 2022 were approximately 7.12 billion yuan, compared to 6.33 billion yuan at the end of the first half of 2021, representing an increase of about 12.5%[148]. Subsidiaries and Investments - The company reported a total of 14,139.69 in revenue from its subsidiary Xi'an Xili New Guanghua Hotel, with a net loss of 1,161,702.91[62]. - The subsidiary Xi'an Overseas Tourism Co., Ltd. generated 18,674,025.33 in revenue but incurred a net loss of 709,839.97[62]. - The total assets of the subsidiary Xi'an Zhonglv International Travel Co., Ltd. amount to 47,565,917.75, with a net loss of 690,602.61[62]. - The company reported a net profit of 470,010 CNY from its investment in Xi'an Hongtu Innovation Investment Co., Ltd., which has total assets of 117.20 million CNY and a net asset of 113.39 million CNY[68]. Corporate Governance and Compliance - The company did not distribute cash dividends or issue bonus shares during the reporting period[6]. - The company has not experienced any major litigation or arbitration matters during the reporting period[89]. - There are no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[84]. - The company has not engaged in any significant related party transactions during the reporting period[90]. - The semi-annual financial report has not been audited[87]. Strategic Initiatives and Market Position - The company is facing significant challenges due to the pandemic, with many travel agencies and tourism companies closing down, impacting its main business in travel and hotel sectors[70]. - The company plans to innovate and reform its management model, focusing on internal reforms to enhance operational efficiency and support innovation[70]. - The company aims to upgrade its traditional business models by leveraging big data and enhancing service quality to adapt to new trends in cultural tourism consumption[71]. - The company is actively seeking partnerships with external brands and quality resources to stimulate business growth and innovation[70]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[172]. - The company adheres to the accounting policies and estimates as per the enterprise accounting standards, including provisions for bad debts and depreciation of fixed assets[173]. - The company recognizes expected credit losses based on historical data, current conditions, and future economic forecasts for financial assets measured at amortized cost[187]. - The company classifies financial assets into three categories: A. amortized cost, B. fair value through other comprehensive income, and C. fair value through profit or loss[185].

Financial Performance - The company's operating revenue for Q1 2022 was ¥80,214,443.20, representing a 5.55% increase compared to ¥76,000,053.57 in the same period last year[3] - The net profit attributable to shareholders was -¥34,108,586.60, a decrease of 143.35% from -¥14,016,263.41 year-on-year[3] - The net profit for Q1 2022 was a loss of ¥37,076,248.44, compared to a loss of ¥14,809,342.50 in Q1 2021, reflecting a significant increase in losses[19] - The total comprehensive loss for the period was -37,076,248.44 CNY, compared to -14,809,342.50 CNY in the same period last year, indicating a significant increase in losses[20] - Basic and diluted earnings per share for Q1 2022 were both -0.1441 CNY, compared to -0.0592 CNY in Q1 2021, reflecting a worsening performance[20] Cash Flow - The net cash flow from operating activities was -84,677,204.91 CNY, slightly improved from -90,419,256.69 CNY in the same period last year[23] - Cash inflow from operating activities was 83,985,386.49 CNY, down from 89,788,633.48 CNY in the previous year, a decrease of approximately 6.4%[23] - Cash outflow from operating activities totaled 168,662,591.40 CNY, compared to 180,207,890.17 CNY in the previous year, a decrease of about 6.5%[23] - The net cash flow from investing activities was 64,616,456.12 CNY, a significant improvement from -26,302,302.18 CNY in Q1 2021[24] - Cash inflow from financing activities was 200,000,000.00 CNY, up from 151,000,000.00 CNY in the previous year, an increase of approximately 32.5%[24] - The net cash flow from financing activities was -12,676,205.30 CNY, compared to 99,024,479.58 CNY in Q1 2021, indicating a shift towards cash outflow[24] - The ending cash and cash equivalents balance was 432,206,083.44 CNY, down from 464,943,037.53 CNY at the beginning of the period, a decrease of about 7.0%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,140,303,599.37, down 3.42% from ¥2,216,158,784.58 at the end of the previous year[4] - Current assets totaled ¥904,238,009.82 at the end of Q1 2022, down from ¥970,304,808.64 at the beginning of the year, a decrease of approximately 6.8%[16] - Total liabilities decreased to ¥1,353,823,292.94 from ¥1,392,602,229.71, a decline of approximately 2.8%[17] - The company's equity attributable to shareholders decreased by 4.17% to ¥784,201,881.46 from ¥818,310,468.06[4] - The company's equity attributable to shareholders decreased to ¥784,201,881.46 from ¥818,310,468.06, a decline of approximately 4.2%[17] Accounts and Expenses - Accounts receivable increased by ¥20,628,500, representing a 74.98% rise, primarily due to growth in the trading segment[7] - Prepaid accounts increased by ¥92,055,500, a significant 481.88% increase, attributed to the trading and hotel segments[7] - Sales expenses rose by ¥11,790,000, reflecting a 78.85% increase due to hotel segment expansion[8] - Financial expenses increased by ¥2,757,700, a 211.13% rise, mainly due to higher borrowing costs[8]

Financial Performance - The company's operating revenue for 2021 was ¥560,654,445.18, an increase of 87.28% compared to ¥299,367,471.17 in 2020[21]. - The net profit attributable to shareholders was a loss of ¥73,068,303.79, representing a decline of 294.45% from a profit of ¥37,576,277.91 in 2020[21]. - The net cash flow from operating activities improved to -¥115,542,663.95, a 33.25% improvement from -¥173,104,239.30 in 2020[21]. - The total assets at the end of 2021 were ¥2,216,158,784.58, reflecting a 67.17% increase from ¥1,325,718,425.36 at the end of 2020[21]. - The basic earnings per share for 2021 was -¥0.3086, compared to ¥0.1587 in 2020, indicating a significant decline[21]. - The company reported a total of ¥514,410,289.07 in revenue after deducting non-operating income, which was entirely related to its main business[22]. - The company experienced a net loss of ¥39,334,076.93 in the fourth quarter of 2021, contributing to the overall annual loss[26]. - Non-operating income included ¥14,618,122.69 from the disposal of non-current assets, down from ¥138,775,662.24 in 2020[27]. - The weighted average return on net assets was -8.56% for 2021, a decrease of 12.87% from 4.31% in 2020[21]. Business Operations - The company operates in various sectors including hotel management, catering services, and tourism product development[18]. - The company has undergone several changes in its business scope since its establishment, with the latest updates including travel agency services and tourism resource development[18]. - The company expanded its hotel operations, adding 24 hotels in 2021, including 16 direct-operated and 8 franchised[34]. - The travel agency segment launched multiple premium tourism and research study routes, signing strategic cooperation agreements with several scenic spots along the Qinling Mountains[37]. - The company developed nearly 100 self-operated tourism routes, including destinations in Guangdong, Guangxi, Hainan, Xinjiang, Tibet, and Sichuan[33]. - The company upgraded its Wan'ao hotel brand from version 1.0 to 2.0, enhancing its diversified brand lineup[34]. - The company established a "Five Heart" fresh food distribution platform, enhancing its supply chain capabilities and achieving good economic and social benefits[35]. - The company initiated the "Lemon Research Study" brand, creating nearly 100 high-quality research study and party-building products[34]. - The company launched the "Xi Travel" WeChat mini-program and upgraded its micro-mall system in 2021[37]. - The company is focusing on new business growth points in urban entertainment, outdoor living, natural education, and live e-commerce[35]. Revenue Breakdown - In 2021, the travel agency business generated revenue of CNY 144.63 million, representing a year-on-year growth of 21.22%[38]. - The hotel business achieved revenue of CNY 76.81 million in 2021, with a significant year-on-year increase of 195.53%[42]. - The commerce and logistics segment reported revenue of CNY 339.21 million, marking a year-on-year growth of 120.18%[39]. - The hotel segment accounted for 13.70% of total revenue, while the travel agency and commerce segments contributed 25.80% and 60.50%, respectively[42]. Subsidiaries and Acquisitions - The company acquired 100% equity of Sunshine Hotel for CNY 37.87 million, which was completed in January 2021[49]. - The company has established several new subsidiaries, including a full-owned subsidiary for scenic area management and a hotel management company[49]. - The company reported a net profit of 42.70 million CNY for the subsidiary Xi'an Hongtu Innovation Investment Co., with total assets of 205.46 million CNY and net assets of 176.09 million CNY as of the end of 2021[91]. - The company’s subsidiary, Xi'an Xili Conference and Exhibition Service Co., reported a net profit of 171.22 million yuan from an operating income of 515.97 million yuan, with total assets of 280.73 million yuan[90]. Financial Management and Control - The company emphasizes the importance of risk management and has outlined potential risks and countermeasures in its management discussion[4]. - The company has a commitment to ensuring the accuracy and completeness of its financial reports, as stated by its management[3]. - The internal control system has been continuously improved, ensuring low financial and operational risks[130]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2021[134]. - There were no major defects identified in the financial or non-financial reports, indicating a strong compliance and operational integrity[135][149]. Shareholder Information - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[5]. - The total number of shares is 236,747,901, with 99.43% being unrestricted shares and 0.57% being restricted shares[182]. - The largest shareholder, Xi'an Tourism Group Co., Ltd., holds 27.29% of the shares, totaling 64,602,145 shares[187]. - The company has not issued any new securities during the reporting period[186]. - The shareholding structure remains stable, with no significant changes in the asset and liability structure reported[186]. Management and Governance - The company has a diverse board with members holding various academic qualifications, including PhDs and master's degrees[109]. - The current management team includes experienced professionals with backgrounds in finance, tourism, and law, enhancing the company's strategic capabilities[110]. - The management team is focused on leveraging their expertise to drive the company's growth in the tourism sector[108]. - The total pre-tax remuneration for the board of directors, supervisors, and senior management amounted to 4.3982 million CNY[114]. - The company’s board of directors held a total of 4 meetings during the reporting period, with all members present[117]. Legal and Compliance - The company did not experience any significant litigation or arbitration matters during the reporting period, reflecting a stable legal standing[148]. - The company has not engaged in any major related party transactions during the reporting period, ensuring transparency in operations[150]. - There were no violations or penalties reported during the period, indicating adherence to regulatory standards[149]. Future Plans - The company plans to expand the "Xili Wan'ao" hotel brand across the country, enhancing brand awareness and developing franchise stores[93]. - The travel agency sector is expected to focus on post-pandemic recovery, enhancing product design and expanding self-operated product clusters[93]. - The company aims to establish a national automated ecological supply chain collection and distribution base within 3 to 5 years to reduce traditional supply costs[95]. - The company will develop a diversified brand portfolio in the hotel sector, including "Wan'ao Manor" and "Platinum Wan'ao" among others[93].

Revenue and Profitability - Revenue for the third quarter reached ¥170,859,595.48, an increase of 120.09% compared to the same period last year[2] - Operating income for the year-to-date period was ¥422,173,445.12, reflecting a 130.82% increase compared to the same period last year[2] - Total operating revenue for the third quarter reached CNY 422,173,445.12, a significant increase from CNY 182,902,685.88 in the same period last year, representing a growth of approximately 131%[25] - The net profit for the third quarter was a loss of CNY 34,766,641.28, compared to a profit of CNY 87,203,540.64 in the previous year, reflecting a decline of over 140%[26] - Net profit attributable to shareholders was -¥15,736,827.08, a decrease of 114.71% year-on-year[2] Cash Flow - The net cash flow from operating activities was -¥148,172,854.77, a decline of 11.41% year-to-date[3] - The company reported a negative cash flow from operating activities of CNY 148,172,854.77, worsening from a negative cash flow of CNY 132,993,819.82 in the same quarter last year[29] - Cash inflow from operating activities totaled CNY 335,979,930.01, while cash outflow was CNY 484,152,784.78, leading to a net cash flow deficit[29] - The net cash flow from investing activities was -150,334,966.12 CNY, a significant decrease compared to 841,598.57 CNY in the previous year[30] - The total cash inflow from financing activities was 656,295,315.00 CNY, up from 298,043,580.00 CNY year-over-year[30] - The net cash flow from financing activities increased to 382,043,968.06 CNY, compared to 108,561,745.00 CNY in the same period last year[30] Assets and Liabilities - Total assets increased to ¥1,912,032,003.70, representing a growth of 44.23% from the end of the previous year[3] - The company’s total liabilities increased significantly, with contract liabilities rising by ¥16,869,600.00, a 171.18% increase, indicating growth in pre-sold services[8] - The total liabilities of the company reached CNY 1,045,347,959.75, an increase from CNY 432,426,765.32 year-over-year[25] - The total equity attributable to shareholders of the parent company was CNY 854,923,603.64, down from CNY 891,498,805.31 in the previous year[25] - The company’s weighted average return on equity was -1.80%, a decrease of 13.63% compared to the previous year[3] Investments and Acquisitions - The company completed the acquisition of 100% equity in Sunshine Hotel, which is now a wholly-owned subsidiary included in the 2021 consolidated financial statements[16] - The company plans to publicly transfer 51% equity in Zhaqana Ecological Company and 70% equity in Zhaqana Health Industry Company, with a minimum transfer price of RMB 91,040,300[18] - The company provided full guarantee for a project loan of RMB 560 million for its subsidiary, Zhaqana Ecological Company, with a current loan amount of RMB 200 million already in place[17] - The company signed a monetary compensation agreement for property acquisition amounting to RMB 24 million, with an initial payment of RMB 8 million received[14] - The company is in the process of publicly transferring its original office premises and auxiliary assets, which is progressing smoothly[15] Inventory and Receivables - The company reported a significant increase in accounts receivable, which rose by ¥17,729,800.00, a 95.00% increase, primarily due to the growth in the trading and travel agency sectors[7] - The company reported an increase in inventory to RMB 121,178,048.95 from RMB 81,662,182.87, reflecting a growth of approximately 48.4%[21] Other Financial Metrics - The company experienced a 94.14% decrease in investment income, amounting to a loss of ¥15,337,040.00, due to the previous year's gain from a subsidiary's equity transfer[10] - The basic and diluted earnings per share for the third quarter were both -CNY 0.1425, compared to CNY 0.3724 in the same period last year[26] - The company has adopted new leasing standards starting January 1, 2021, which resulted in adjustments to the financial statements[32] - The company reported a cash inflow from minority shareholders' investments of 11,000,000.00 CNY during the period[30] - The company did not conduct an audit for the third quarter report[37]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥251,313,849.64, representing a 138.73% increase compared to ¥105,272,589.88 in the same period last year[20]. - The net profit attributable to shareholders was a loss of ¥17,997,399.78, which is a 4.51% improvement from a loss of ¥18,847,191.55 in the previous year[20]. - The net cash flow from operating activities was -¥114,665,011.82, showing a slight improvement of 1.62% compared to -¥116,547,474.06 in the same period last year[20]. - The company reported a total of ¥9,479,660.22 in non-recurring gains and losses during the reporting period[25]. - The hotel segment generated revenue of ¥29,633,141.28, a significant increase of 186.80% from ¥10,332,494.77 in the same period last year[37]. - The trade segment saw revenue growth of 217.10%, reaching ¥141,088,787.23 compared to ¥44,493,171.36 in the previous year[37]. - The company reported a net profit of ¥147,773.04 from its subsidiary Xi'an Xili New Guanghua Hotel, with total assets of ¥6,948,549.85[50]. - Xi'an Overseas Tourism Co., Ltd. reported a net loss of ¥946,966.60, with total assets of ¥23,838,856.69[50]. - The subsidiary Xi'an Zhonglv International Travel Agency had a net loss of ¥747,915.07, with total assets of ¥18,861,367.78[50]. - The company reported a net profit for the first half of 2021 was a loss of CNY 16,801,576.51, an improvement from a loss of CNY 19,483,674.63 in the same period of 2020[126]. - The total comprehensive income for the first half of 2021 was a loss of CNY 17,130,224.68, compared to a loss of CNY 19,474,900.99 in the same period last year[127]. Assets and Liabilities - Total assets increased by 40.71% to ¥1,865,418,955.42 from ¥1,325,718,425.36 at the end of the previous year[20]. - The net asset attributable to shareholders decreased by 2.34% to ¥870,660,430.72 from ¥891,498,805.31 at the end of the previous year[20]. - Total current assets increased to 873,199,801.51 RMB from 618,528,169.28 RMB year-over-year, representing an increase of approximately 41.2%[118]. - Total liabilities as of June 30, 2021, were CNY 555,048,657.96, compared to CNY 387,986,292.61 at the end of 2020, marking an increase of about 43.0%[124]. - Short-term borrowings rose to ¥410,522,220.35, which is 22.01% of total assets, an increase of 3.25% due to new bank loans[42]. - Long-term borrowings reached ¥200,000,000.00, representing 10.72% of total assets, attributed to new bank loans from subsidiaries[42]. - The company’s total liabilities to equity ratio as of June 30, 2021, was approximately 0.62, indicating a higher leverage compared to the previous year[124]. Business Strategy and Operations - The company plans to expand its traditional business by introducing new tourism projects and has signed strategic cooperation agreements with multiple scenic spots[28]. - The company has focused on enhancing its educational travel business and launched customized products to commemorate the centenary of the Communist Party of China[28]. - The company has engaged in various conference activities, including hosting events for the Chinese Medical Association and other organizations[28]. - The company plans to leverage its supply chain management and educational operations to create new growth points and stabilize investment returns[30]. - The company is preparing for the upcoming National Games in Xi'an, which may impact its operations and tourism activities[57]. - The company is focusing on hotel upgrades, brand expansion, and homestay development to enhance its hotel cluster, with five brands in the "Wanao" series having completed initial AI designs[58]. - The company plans to continue expanding its brand influence in surrounding destination resources through its travel agencies and related enterprises[58]. Financial Management - The company has entrusted CNY 24,000,000 in financial management, with all funds currently not overdue[90]. - The company has engaged in high-risk financial management, with a total of CNY 15,000,000 in trust products at a 10.00% interest rate, yielding CNY 1,500,000 in expected income[92]. - The company has also entered into a loan agreement for CNY 9,000,000 with an 8.00% interest rate, with expected income of CNY 309,700[92]. - The company has not reported any overdue amounts for its entrusted financial management activities[90]. - The company has provided guarantees for its subsidiaries without any related party guarantees during the reporting period[88]. - The total guarantee amount approved for subsidiaries during the reporting period was CNY 56,000,000, with an actual guarantee amount of CNY 20,000,000[88]. Shareholder Information - The company reported a total of 236,747,901 shares outstanding, with 99.43% being unrestricted shares[102]. - The largest shareholder, Xi'an Tourism Group Co., Ltd., holds 27.29% of shares, totaling 64,602,145 shares[104]. - The second largest shareholder, Panjing Equity Investment Fund Management (Shanghai) Co., Ltd., holds 5.01% of shares, totaling 11,850,028 shares[104]. - Total number of common shareholders at the end of the reporting period is 49,868[104]. Compliance and Governance - The financial report for the half-year period was not audited[115]. - The company has not experienced any changes in its board of directors or senior management during the reporting period[62]. - The company adheres to the accounting standards for enterprises, ensuring the financial statements reflect a true and complete picture of its financial status[163]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations[162]. Environmental and Social Responsibility - The company is committed to environmental protection policies and does not belong to key pollutant discharge units[67].

Revenue and Profitability - Revenue for Q1 2021 reached ¥76,000,053.57, an increase of 103.59% compared to ¥37,329,708.88 in the same period last year[7] - Net profit attributable to shareholders was -¥14,016,263.41, a decline of 18.43% from -¥11,834,909.41 year-on-year[7] - The company reported a basic earnings per share of -¥0.0592, a decrease of 18.40% from -¥0.0500 in the previous year[7] - The total comprehensive income for the period was CNY -14,809,342.50, compared to CNY -12,473,146.97 in the previous period[51] - Net profit for Q1 2021 was a loss of CNY 14,809,342.50, compared to a loss of CNY 12,201,787.25 in Q1 2020[47] Cash Flow and Liquidity - Net cash flow from operating activities was -¥90,419,256.69, showing an improvement of 5.49% compared to -¥95,668,916.73 in the previous year[7] - Operating cash inflow for Q1 2021 was CNY 24,356,933.69, up from CNY 18,629,780.39 in Q1 2020, representing a 30% increase[57] - Cash inflow from financing activities increased to CNY 150,000,000.00, up from CNY 100,000,000.00, a 50% increase year-over-year[59] - Cash and cash equivalents decreased to CNY 295,883,419.97 from CNY 313,580,499.26, representing a decline of approximately 5.7%[36] - The ending cash and cash equivalents balance was CNY 261,444,393.78, compared to CNY 199,053,234.42 at the end of Q1 2020, an increase of 31%[59] Assets and Liabilities - Total assets increased by 6.64% to ¥1,413,696,926.26 from ¥1,325,718,425.36 at the end of the previous year[7] - Total liabilities reached CNY 534,214,608.72, up from CNY 432,426,765.32, which is an increase of about 23.5%[38] - The company's current assets totaled CNY 629,451,025.00 as of March 31, 2021, compared to CNY 618,528,169.28 at the end of 2020, indicating a slight increase of about 1.5%[36] - Total liabilities as of March 31, 2021, were CNY 485,969,243.06, compared to CNY 387,986,292.61 at the end of 2020[43] - Total assets amounted to CNY 1,300,047,619.16, a decrease from CNY 1,331,490,381.10, reflecting a change of CNY 33,343,561.94[66] Operational Performance - Operating revenue increased by CNY 38.67 million, a growth of 103.59%, primarily due to recovery from the impact of the pandemic in the previous year[14] - Operating costs increased by CNY 29.97 million, a growth of 80.82%, in line with the increase in operating revenue[17] - Sales expenses increased by CNY 7.79 million, a growth of 108.80%, attributed to the expansion of the hotel segment[17] - Management expenses increased by CNY 2.49 million, a growth of 32.23%, also due to the expansion of the hotel segment[17] - The company incurred sales expenses of CNY 8,322,696.26, up from CNY 4,199,510.79 in the previous period[50] Changes in Accounts - Accounts receivable increased by ¥7,523,800, a growth of 40.31%, primarily due to increased receivables in the travel agency segment[15] - Accounts payable increased by CNY 12.08 million, a growth of 58.39%, mainly due to the increase in accounts payable in the travel agency segment[16] - Other payables decreased by CNY 29.06 million, a decline of 31.87%, mainly due to reductions in other payables in the travel and hotel segments[16] - Contract liabilities decreased by CNY 4.33 million, a decline of 43.91%, primarily due to a reduction in contract liabilities in the travel agency segment[16] - Inventory increased significantly to CNY 12,678,547.88 from CNY 2,557,203.70 year-on-year[40] Equity and Investments - The company's total equity remained stable at CNY 879,482,317.54 as of March 31, 2021, unchanged from the previous reporting period[38] - The company's total equity attributable to shareholders was CNY 905,552,916.45, down from CNY 912,061,326.55 at the end of 2020[43] - Long-term equity investments rose to CNY 216,530,044.84 from CNY 178,659,044.84 year-on-year[42] - The company reported investment income of CNY 3,698,630.14, down from CNY 4,916,200.06 in the previous period[50] Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[30] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[31] - The first quarter report was not audited, indicating preliminary financial results[68] - The company’s chairman, Wang Wei, presented the report on April 23, 2021, indicating ongoing leadership engagement[69]

Dividend and Financial Stability - The company plans to distribute a cash dividend of 0.12 CNY per 10 shares to all shareholders, based on a total of 236,747,901 shares[4]. - The company has a registered capital of 236,747,901 CNY, reflecting its financial stability[4]. - The cash dividend for 2020 is proposed at RMB 0.12 per 10 shares, totaling RMB 2,840,974.81, which represents 7.56% of the net profit attributable to shareholders[98][100]. Business Operations and Strategy - The company has undergone several changes in its business scope, including tourism product development and hotel management, reflecting its strategic focus on the tourism sector[15]. - The company is actively involved in the management of scenic spots and hotel management, indicating a commitment to enhancing its service offerings in the tourism industry[15]. - The company has expanded its business operations to include travel agency services and tourism resource development as of August 2020[15]. - The company has a comprehensive business model that includes restaurant services, real estate development, and tourism-related activities[15]. - The company aims to improve its market competitiveness and brand influence to become a leading tourism company in the western region of China[87]. - The company plans to leverage its brand and resources to enhance capital operations and project expansion in 2021[87]. - The company is focusing on high-end products and personalized services in its travel agency business, targeting quality customers through cultural tourism integration[88]. - The hotel business plans to add 4 new direct-operated hotels and at least 7 new managed homestays, focusing on enhancing service quality and marketing capabilities[88]. Financial Performance - The company's operating revenue for 2020 was ¥299,367,471.17, a decrease of 65.35% compared to ¥863,920,273.41 in 2019[17]. - The net profit attributable to shareholders in 2020 was ¥37,576,277.91, representing a significant increase of 224.42% from a loss of ¥30,202,176.71 in 2019[17]. - Basic earnings per share for 2020 were ¥0.1587, a turnaround from a loss of ¥0.1276 per share in 2019, marking a 224.37% improvement[18]. - The total assets at the end of 2020 were ¥1,325,718,425.36, an increase of 6.96% from ¥1,239,467,351.81 at the end of 2019[18]. - The net assets attributable to shareholders increased by 4.40% to ¥891,498,805.31 at the end of 2020, compared to ¥853,922,527.40 at the end of 2019[18]. - The company reported a non-operating income of ¥139,797,577.49 in 2020, significantly higher than ¥16,498,827.79 in 2019, primarily due to the disposal of assets[24]. Challenges and Risks - The report highlights potential risks in the company's future development and corresponding countermeasures[4]. - The company's operating revenue for the period was CNY 299.37 million, a decrease of CNY 564.55 million or 65.35% compared to the same period last year, primarily due to the impact of the pandemic on tourism and accommodation revenue[39]. - Operating costs for the period were CNY 283.81 million, down CNY 533.64 million or 65.28% year-on-year, also attributed to the decline in tourism and accommodation revenue[39]. Subsidiaries and Acquisitions - The company established several subsidiaries, including Xi'an Tourism Ecological Commerce Co., Ltd., to enhance its resource integration and operational efficiency[31]. - The company established a new subsidiary, Xi'an Tourism Ecological Trade Co., Ltd., with an investment of 15.3 million yuan, holding 51% stake, included in the consolidated financial statements[107]. - The company also set up Xi'an Xili Yibai Hotel Investment Co., Ltd. with an investment of 42.5 million yuan, holding 85% stake, included in the consolidated financial statements[107]. - The company disposed of its 100% equity in Xi'an Weishui Garden Hot Spring Resort Co., Ltd., which is no longer included in the consolidated financial statements[107]. Social Responsibility and Community Engagement - The company actively engaged in poverty alleviation efforts, including home repairs and educational support for impoverished households[134]. - The company provided rent reductions totaling CNY 6.4004 million for 47 tenants due to the COVID-19 pandemic[132]. - The company signed rent reduction contracts with all affected tenants, demonstrating its commitment to social responsibility[132]. - The company is focused on promoting product sales through online platforms and physical stores to support local industries[134]. Governance and Management - The company has maintained a stable management team with no significant changes reported during the current term[165]. - The governance structure of the company is compliant with the requirements set by the China Securities Regulatory Commission[175]. - The company operates independently from its controlling shareholder, with no interference in decision-making or operations[177]. - The company has established a sound internal control system to enhance management and risk prevention capabilities[175]. Audit and Financial Reporting - The audit report issued a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position as of December 31, 2020[193]. - The audit procedures included verifying the internal approval process for the equity sale and confirming the authenticity of the transaction with the buyer[196]. - The company is responsible for preparing financial statements in accordance with accounting standards and ensuring the absence of material misstatements due to fraud or error[200].

Financial Performance - Net profit attributable to shareholders increased by 9,471.68% to CNY 107,012,595.06 for the reporting period[7] - Basic earnings per share rose by 9,517.02% to CNY 0.4520[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -4,205,524.97, a decrease of 71.46%[7] - The company reported a significant increase in short-term borrowings, which rose to CNY 347,074,288.43 from CNY 230,305,708.43 in the previous year[49] - The net profit for the third quarter reached CNY 106,678,441.63, compared to a net loss of CNY 972,989.69 in the previous year, indicating a significant turnaround[54] - The total profit for the third quarter was CNY 121,500,777.14, compared to a loss of CNY 1,317,160.63 in the same quarter last year[54] - The company reported a total comprehensive income of CNY 106,678,441.63 for the third quarter, compared to CNY 6,885,556.99 in the previous year[54] Revenue and Costs - Operating revenue decreased by 73.64% to CNY 77,630,096.00 compared to the same period last year[7] - Operating revenue decreased by 472.03 million RMB, a decline of 72.07%, mainly due to reduced tourism revenue impacted by the pandemic[17] - Total operating revenue for Q3 2020 was CNY 77,630,096, a decrease of 73.6% compared to CNY 294,522,956.55 in the same period last year[52] - Total operating costs for Q3 2020 were CNY 106,072,550.58, down from CNY 302,786,120.67 in Q3 2019, reflecting a significant reduction in expenses[52] - The total operating costs for the year-to-date were CNY 245,823,693.15, a decrease from CNY 671,871,401.68 in the previous year[60] Assets and Liabilities - Total assets increased by 16.23% to CNY 1,440,613,539.29 compared to the end of the previous year[7] - The company's total equity reached CNY 946,749,633.92, up from CNY 856,246,093.28 year-over-year[46] - Total liabilities increased to CNY 493,863,905.37 in Q3 2020 from CNY 383,221,258.53 in the same period last year[46] - The total assets of the company amounted to CNY 1,423,376,607.53, compared to CNY 1,238,943,387.54 at the end of 2019[49] - The total amount of entrusted financial management reached 44,000 million CNY, with an outstanding balance of 30,500 million CNY[29] Cash Flow - The net cash flow from operating activities was CNY -16,446,345.76, a 707.92% increase in loss compared to the previous year[7] - Net cash flow from operating activities decreased by 85.91 million RMB, a decline of 182.44%, mainly due to reduced cash receipts from sales[18] - The net cash flow from operating activities for the year-to-date period was negative at approximately -¥132.99 million, worsening from -¥47.09 million in the previous year[68] - The net cash flow from financing activities is 108,561,745.00 CNY, compared to -54,815,586.76 CNY in the previous period[72] Investments - The company completed the 100% equity transfer of its subsidiary, Xi'an Weishui Garden Hot Spring Resort Co., Ltd., resulting in an investment income of CNY 139,949,574.41[9] - Investment income increased by 155.58 million RMB, a growth of 2122.16%, due to the completion of a subsidiary's equity transfer[17] - The company plans to acquire a 34% equity stake in Wuhan Tianzong Lake Yun Real Estate Co., Ltd. for 3,000 million CNY, with a trust period from October 2019 to November 2020[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 52,030[11] - The largest shareholder, Xi'an Tourism Group Co., Ltd., holds 27.29% of the shares[11] Inventory and Financial Management - Inventory increased by 78.64 million RMB, a growth of 2767.26%, primarily due to asset acquisitions by a subsidiary[15] - The total overdue amount for entrusted financial management is 0, indicating no overdue receivables[29] - The company has a remaining balance of 709.80 million RMB in its fundraising special account as of September 30, 2020[26] Other Financial Metrics - The weighted average return on net assets was 11.83%, compared to 9.67% in the same period last year[7] - The company reported no violations regarding external guarantees during the reporting period[36] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[37]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥105,272,589.88, a decrease of 70.79% compared to ¥360,408,831.75 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥18,847,191.55, representing a decline of 232.91% from a loss of ¥5,661,309.03 in the previous year[17]. - The net cash flow from operating activities was negative at ¥116,547,474.06, which is a 134.07% increase in losses compared to ¥49,792,574.02 in the same period last year[17]. - The company reported a basic earnings per share of -¥0.0796, a decrease of 233.05% from -¥0.0239 in the same period last year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥30,346,616.74, a decrease of 289.67% from -¥7,787,709.88 in the same period last year[17]. - The company's total revenue for the reporting period was ¥105,272,589.88, a decrease of 70.79% compared to ¥360,408,831.75 in the same period last year, primarily due to the impact of the pandemic[39]. - The travel agency revenue dropped by 84.84% to ¥50,446,923.75, accounting for 47.92% of total revenue, while hotel revenue decreased by 62.54% to ¥10,332,494.77, representing 9.81% of total revenue[42]. - The company's total assets at the end of the reporting period were ¥1,296,720,686.50, reflecting a 4.62% increase from ¥1,239,467,351.81 at the end of the previous year[17]. - The company's cash and cash equivalents decreased to ¥226,803,620.37 from ¥362,820,071.90[120]. Business Strategy and Development - The establishment of new subsidiaries, including Xi'an Tourism Ecological Commerce Co., Ltd. and Xi'an Xili Conference and Exhibition Service Co., Ltd., aims to enhance the company's main business development[25]. - The company is focusing on recovery and production resumption in response to the severe challenges posed by the COVID-19 pandemic[25]. - The company is actively expanding its hotel segment, having signed one hotel acquisition contract and two intention acquisition contracts during the reporting period[34]. - The company is focusing on developing high-quality boutique homestays, with projects approved in Longxi Mountain Villa and Yongning Gate boutique homestay hotel[35]. - The company is enhancing its core competitiveness through resource integration and has established two new hotel management companies to support rapid expansion[34]. - The company is implementing a strategy of diversification in its travel agency operations, aiming to serve 500,000 visitors annually and explore value in its customer base[33]. - The company is actively pursuing mergers and acquisitions to enhance its scale and quality, particularly in the hotel and boutique homestay sectors[33]. - The company is committed to deepening the integration of cultural tourism and has established partnerships with local museums and educational institutions to promote study tours[36]. - The company plans to enhance its hotel business through upgrades and brand expansion, focusing on the Xi'an Xili Yibai Hotel Investment Co., Ltd. and Xi'an Xili Wan'ao[60]. - The company is focusing on educational travel and exhibitions as key areas to enhance business capabilities and capture market share[60]. Financial Management and Investments - The company reported a significant increase in financial expenses by 251.37% to ¥3,451,997.91, attributed to a decrease in interest income and an increase in interest expenses[39]. - The company’s investment income was ¥14,492,402.81, accounting for 74.42% of total profit, primarily from financial investments[44]. - The company reported a total investment of 164,882,887.72 CNY, with a fair value change of -561,534.25 CNY during the reporting period[51]. - The company made purchases amounting to 235,000,000.00 CNY and sold assets worth 35,000,000.00 CNY in the reporting period[51]. - The cumulative investment income reached 13,831,213.47 CNY, with a year-end total amount of 364,321,353.47 CNY[51]. - The company engaged in trust financial products with a total amount of 36,500,000 yuan and an outstanding balance of 26,500,000 yuan[84]. - The total amount of other types of financial products was 7,500,000 yuan with an outstanding balance of 4,000,000 yuan[84]. - The trust company reported a total investment of 10,000 million in the project "Jindi Huafu" for Shaanxi Jindi Real Estate Co., Ltd., with an expected return rate of 11.40%, resulting in an estimated income of 1,140 million[86]. - The company plans to utilize idle funds for investments in bank deposits, interbank lending, government bonds, and other financial products[87]. - The trust company has a projected return rate of 9.60% for the Xianyang project, estimating an income of 336 million[87]. Operational Challenges and Responses - The company is focusing on recovery and production resumption in response to the severe challenges posed by the COVID-19 pandemic[25]. - The company anticipates challenges due to the impact of COVID-19 but is committed to recovery and growth strategies[60]. - The company reported a significant increase in cash received from investment recoveries, amounting to 135,000,000.00 yuan, which was not recorded in the previous year[137]. Corporate Governance and Compliance - The company did not distribute cash dividends or issue bonus shares during this reporting period[5]. - The company held its 2019 Annual General Meeting with an investor participation rate of 28.42% on May 6, 2020[63]. - There were no major litigation or arbitration matters during the reporting period[69]. - The company did not experience any penalties or rectification situations during the reporting period[70]. - The company has no stock incentive plans or employee shareholding plans in place during the reporting period[71]. - The half-year report was not audited[67]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[105]. - The company did not conduct any repurchase transactions among its top shareholders during the reporting period[104]. - The company has no preferred shares or convertible bonds outstanding[107][110]. Accounting Policies and Financial Reporting - The financial statements reflect the company's financial position and operating results as of June 30, 2020[169]. - The company adheres to the accounting policies and estimates in accordance with enterprise accounting standards[168]. - The company uses RMB as its functional currency for accounting purposes[172]. - The company classifies financial assets into three categories: A. measured at amortized cost; B. measured at fair value with changes recognized in other comprehensive income; C. measured at fair value with changes recognized in profit or loss[179]. - Financial assets measured at amortized cost include cash, receivables, and long-term receivables, with interest income recognized using the effective interest method[180]. - The company recognizes impairment losses or gains for financial assets measured at fair value with changes recognized in other comprehensive income in the profit or loss statement[183].

Financial Performance - The company's operating revenue for 2019 was ¥863,920,273.41, a decrease of 2.48% compared to ¥885,848,812.31 in 2018[17]. - The net profit attributable to shareholders of the listed company was a loss of ¥30,202,176.71, representing a decline of 131.37% from a profit of ¥96,271,013.63 in 2018[17]. - The basic and diluted earnings per share were both -¥0.1276, a decrease of 131.38% from ¥0.4066 in 2018[17]. - The company reported a total of ¥16,498,827.79 in non-recurring gains and losses for 2019, compared to ¥125,499,999.38 in 2018[24]. - The company experienced a significant loss in the fourth quarter, with a net profit attributable to shareholders of -¥25,658,880.88[22]. - The company's net profit for the period was -32.31 million yuan, a decrease of 118.73 million yuan or 137.39% year-on-year, with the net profit attributable to the parent company being -30.20 million yuan, down 126.47 million yuan or 131.37%[38]. - The company reported a significant decrease in investment income, totaling 16.83 million yuan, down 91.09% year-on-year, primarily due to the previous year's transfer of equity in a subsidiary[37]. Assets and Liabilities - Total assets at the end of 2019 were ¥1,239,467,351.81, an increase of 2.56% from ¥1,208,563,062.72 at the end of 2018[17]. - The net assets attributable to shareholders of the listed company decreased by 1.89% to ¥853,922,527.40 from ¥870,370,784.99 in 2018[17]. - Cash and cash equivalents at the end of 2019 were CNY 362.82 million, representing 29.27% of total assets, down from 39.63% at the beginning of the year[57]. - The total amount of raised funds was CNY 340.41 million, with CNY 310 million allocated for the reconstruction of Victory Hotel and CNY 30.41 million for working capital[62]. - The total current liabilities rose to CNY 316,476,145.61, compared to CNY 283,815,966.69 in 2018, reflecting an increase of about 11.5%[199]. - The company's total liabilities reached CNY 324,870,571.43, up from CNY 294,413,725.99 in the previous year, indicating an increase of about 10.3%[199]. Cash Flow - The net cash flow from operating activities improved by 33.11%, reaching a negative ¥41,208,320.71 compared to a negative ¥61,609,882.07 in 2018[17]. - Cash inflow from operating activities increased by 27.24% to ¥917,847,347.55, primarily due to higher cash received from sales[52]. - Cash outflow from operating activities rose by 22.49% to ¥959,055,668.26, mainly due to increased cash payments for goods and services[52]. - The total cash and cash equivalents decreased by ¥123,500,833.08, a decline of 150.82% compared to the previous year[51]. Business Operations - The company’s main business scope includes hotel management, catering services, tourism product development and sales, and real estate development[15]. - The company is actively expanding its traditional business, with the hotel sector implementing an upgrade plan for the Liberation Hotel and launching three new boutique homestays[28]. - The company is focusing on enhancing its travel agency services, with efforts to improve product quality and expand its service network across the province[35]. - The company established a new retail business department, generating additional revenue of 30.33 million yuan during the year[27]. - The company is advancing major projects, with the Victory Hotel project nearing completion and 90% of the main equipment installation finished[27]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by the board of directors and senior management[3]. - The company has a commitment to disclose information through designated media such as Securities Times and China Securities Journal[14]. - The board of directors and supervisory board operate independently from the controlling shareholder, ensuring autonomous business operations[160]. - The company has established a sound internal control system to enhance management levels and risk prevention capabilities[159]. - The company maintained a governance structure that complies with relevant laws and regulations, ensuring effective operation and protection of investor interests[159]. Shareholder Information - The company’s stock is listed on the Shenzhen Stock Exchange under the code 000610[12]. - The largest shareholder, Xi'an Tourism Group Co., Ltd., holds 27.29% of the shares, totaling 64,602,145 shares[130]. - The company has 52,620 total common shareholders at the end of the reporting period[130]. - The company did not issue any new securities during the reporting period[126]. - The company has not undergone any changes in fundraising projects during the reporting period[66]. Management and Personnel - The total number of employees in the company is 691, with 432 in the parent company and 259 in major subsidiaries[154]. - The company has a total of 14 current board members and supervisors, with varying levels of remuneration[153]. - The company has maintained a stable shareholding structure among its senior management, with no significant changes in shareholdings reported during the period[145]. - The company experienced a change in management with the departure of several key personnel, including independent directors and vice presidents, due to term completion and personal reasons[146]. Social Responsibility - The company has developed a strategy for social responsibility, emphasizing charitable activities and community support[115]. - The company has engaged in targeted poverty alleviation efforts in Yuchuan Village and Zhangnan Village, focusing on agricultural development and education support[115]. - The company has invested in various agricultural industries, including walnut and pomegranate cultivation, as part of its poverty alleviation strategy[116].