Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[22]. - The net profit attributable to shareholders was RMB 200 million, which is a 10% increase compared to the previous year[22]. - The company's operating revenue for 2021 was ¥8,598,781,556.35, an increase of 21.39% compared to ¥7,083,884,205.43 in 2020[29]. - The company achieved a total revenue of 8.599 billion yuan and a net profit attributable to the parent company of -3.893 billion yuan for the year[49]. - The total revenue for 2021 was CNY 8,598,781,556.35, representing a year-on-year increase of 21.39% from CNY 7,083,884,205.43 in 2020[76]. - Revenue from residential property sales accounted for 78.07% of total revenue, amounting to CNY 6,712,653,654.85, which is a 26.84% increase compared to CNY 5,292,063,785.70 in 2020[76]. - The cultural tourism sector generated CNY 1,211,484,533.40, making up 14.09% of total revenue, with an 8.90% increase from CNY 1,112,468,277.98 in 2020[76]. - The company reported a significant increase in overseas sales, which reached CNY 2,089,946,131.33, a staggering growth of 2,803.20% from CNY 71,987,557.31 in 2020[76]. - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved operational efficiency[159]. Market Expansion and Strategy - The company plans to expand its market presence by entering three new provinces in 2022, aiming for a 20% increase in market share[22]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market reach[22]. - The company is actively pursuing new strategies for market expansion and product development, focusing on residential and commercial projects[59]. - The company plans to expand its market presence through new projects and strategic partnerships, aiming for increased revenue growth in the upcoming quarters[66]. - The company is looking to enhance its operational efficiency through strategic appointments and restructuring efforts[147]. - The company is focused on expanding its market presence and exploring new business strategies to drive growth[148]. - The company plans to enhance the disposal of non-scenic large properties such as hotels and shopping malls to increase cash flow[124]. - The company is expanding its market presence with new projects in regions like Sanya and Lingshui, contributing to its growth strategy[59]. Product Development and Innovation - New product development includes the launch of a cultural tourism app, expected to generate an additional RMB 50 million in revenue in 2022[22]. - The company is investing in research and development, with an increase in R&D expenditure by 30% to foster innovation[156]. - New product launches are expected to contribute an additional 200 million yuan in revenue, with a focus on innovative technology solutions[156]. - The company is committed to developing new products and technologies to enhance its service offerings in the tourism industry[153]. Operational Efficiency and Management - The management has set a performance guidance of 10-15% revenue growth for 2022[22]. - The company is focusing on enhancing the operational efficiency and profitability of its cultural tourism projects while accelerating the disposal of real estate projects[47]. - The company aims to strengthen its cultural tourism operations and innovate in scenic area management and tourism content[48]. - The company has a strong leadership team with a mix of experience in finance, management, and industry-specific knowledge, which is crucial for its future growth[148]. - The company aims to strengthen its financial performance and market competitiveness through ongoing management improvements and strategic initiatives[148]. - The company has implemented targeted marketing strategies, leading to concentrated growth in sales returns through various promotional activities[52]. Risks and Challenges - The company has identified potential risks related to market competition and regulatory changes, with strategies in place to mitigate these risks[8]. - The company anticipates that real estate financing policies will remain tight, impacting overall financing pressure[122]. - The company faces macroeconomic risks due to complex domestic and international economic conditions affecting consumer spending[123]. - The real estate sector remains sensitive to national macro-control policies, with ongoing regulatory measures expected to stabilize the market[123]. - The report indicates that significant internal control defects have not been rectified within a reasonable period[198]. Corporate Governance - The company has established a robust corporate governance structure, complying with relevant laws and regulations, ensuring effective operation and decision-making[131]. - The board of directors operates independently and adheres to legal requirements, ensuring prudent and reasonable decision-making processes[132]. - The company emphasizes transparency in information disclosure, ensuring equal access to information for all investors[133]. - The company has established an independent human resources management system, including recruitment, training, performance evaluation, and compensation management, fully independent from the controlling shareholder[137]. - The company has a sound corporate governance structure and independent internal operating institutions, ensuring independent exercise of powers by the board and management[137]. Employee Development and Training - The total number of employees at the end of the reporting period was 6,660, with 6,555 from major subsidiaries and 105 from the parent company[184]. - A total of 38 training sessions were held in 2021, with 3,022 participants and a training satisfaction rate of 97.6%[187]. - The employee stock ownership plan included 187 employees holding a total of 13,566,347 shares, representing 0.72% of the company's total share capital[192]. - The company has 927 technical personnel, highlighting a strong emphasis on technical expertise within the workforce[184]. Financial Management - The financing balance at the end of the period is approximately 9.50 billion, with an average financing cost ranging from 4.243% to 10.688%[64]. - The company reported a significant decrease in cash inflow from financing activities, down 77.96% to ¥1,114,952,520.72[93]. - The company has established a comprehensive internal control system, with no significant deficiencies reported during the period[196]. - The company has not implemented any stock incentive plans for directors and senior management during the reporting period[189].

新华联文化旅游发展股份有限公司 2021 年第三季度报告 □ 是 √ 否 证券代码：000620 证券简称：新华联 公告编号：2021-066 新华联文化旅游发展股份有限公司 2021 年第三季度报告 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。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中 财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | --- | --- | --- | --- | --- | |------------------------------------------------------|-------------------|-------------------------|-------------------| ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,919,444,605.20, representing an increase of 11.29% compared to CNY 1,724,665,851.45 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was a loss of CNY 725,878,444.43, which is a decline of 28.48% from a loss of CNY 564,971,484.81 in the previous year[25]. - The net cash flow from operating activities decreased by 65.16%, amounting to CNY 426,624,517.64 compared to CNY 1,224,523,056.93 in the same period last year[25]. - The basic and diluted earnings per share were both CNY -0.38, a decrease of 26.67% from CNY -0.30 in the same period last year[25]. - The weighted average return on net assets was -11.73%, a decline of 4.33% compared to -7.40% in the previous year[25]. - The company's operating revenue for the reporting period was CNY 1,919,444,605.20, representing an increase of 11.29% compared to the previous year[44]. - The cost of goods sold was CNY 1,702,185,623.30, reflecting a year-on-year increase of 15.15%[45]. - The revenue from the cultural tourism sector increased by 67.72% year-on-year, driven by enhanced services and expanded product offerings[50]. - The gross profit margin for the cultural tourism sector was -27.39%, indicating a significant decline compared to the previous year[50]. - The company reported a net profit of 23,026,176.87 CNY from its subsidiary Liling Xinhua Real Estate Development Co., Ltd., contributing significantly to overall performance[68]. - The company reported a significant increase in total assets across its subsidiaries, with Hunan Xinhua Real Estate Development Co., Ltd. showing total assets of 1,808,704,661.74 CNY[68]. Asset and Liability Management - The total assets at the end of the reporting period were CNY 49,453,211,887.11, down 1.86% from CNY 50,391,037,662.63 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company decreased by 12.73%, totaling CNY 5,771,436,178.56 compared to CNY 6,613,203,430.39 at the end of the previous year[25]. - The company's cash and cash equivalents decreased by 54.83% to CNY -580,019,354.97 compared to the previous year[45]. - Cash and cash equivalents at the end of the reporting period amounted to ¥2,269,096,772.71, representing 4.59% of total assets, a decrease of 1.59% from the previous year[54]. - Inventory increased to ¥22,198,165,195.20, accounting for 44.89% of total assets, up by 1.12% year-on-year[54]. - Long-term borrowings rose to ¥13,150,602,398.24, making up 26.59% of total assets, an increase of 3.37% compared to the previous year[54]. - Contract liabilities reached ¥6,952,406,340.50, which is 14.06% of total assets, reflecting a 2.43% increase from the previous year[54]. - The total amount of daily related party transactions for the year is estimated at CNY 13.6 million, with actual transactions amounting to CNY 1.18 million during the reporting period[99]. - The company reported a total debt guarantee of 100,000 for the period ending August 16, 2018, with a repayment amount of 86,454[124]. - The total approved guarantee amount during the reporting period was 150,000, with the actual amount incurred totaling 173,023[133]. - The actual guarantee amount accounted for 309.12% of the company's net assets[133]. Operational Strategies and Developments - The company has established a comprehensive industrial layout, including cultural tourism, urban renewal, health living, and rural revitalization, with a focus on cultural tourism as its core strategy[40]. - The company organized two marketing competitions, "Extreme Cold Rush" and "Spring Thunder Action," to boost sales and implemented competitive sales incentive policies for unsold commercial properties[36]. - The company has signed a city renewal cooperation agreement with Shanghai Qingpu District, marking its acceleration into new development tracks[40]. - The company has formed a complete industrial chain structure, integrating tourism and real estate development, scenic area operation, and property services, enhancing operational efficiency[41]. - The company has launched various themed activities and performances in its scenic areas to increase visitor engagement and improve operational performance[41]. - The company has strengthened its operational management and cost control measures, resulting in significant growth in operational income and visitor numbers compared to the previous year[36]. - The company aims to improve its cash flow by increasing the disposal of non-scenic properties such as hotels and shopping malls to address financial risks[73]. - The company is closely monitoring national macro policies and industry trends to ensure stable business development amidst ongoing real estate regulations[72]. - The company has set a goal to enhance operational capabilities in cultural tourism, focusing on product quality and speed of sales[72]. Challenges and Risks - The company faces various risks and has outlined corresponding countermeasures in its report[5]. - The company has faced challenges with overdue debts and is actively seeking solutions to manage these financial risks[73]. - The company disclosed that it is facing financial difficulties, including overdue financial debts and asset seizures[96]. - The company reported a significant lawsuit involving China Bank, with a disputed amount of CNY 496.97 million, which has entered the enforcement stage[94]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[91]. - The company has no significant impairment risks associated with its overseas assets[58]. Shareholder and Governance Information - The company has established a first-phase employee stock ownership plan, purchasing 13,566,347 shares, which is 0.72% of the total share capital, for a total amount of 33,519,800 CNY[80]. - The total number of common shareholders at the end of the reporting period was 41,689[148]. - The largest shareholder, Xinhua Lian Holdings Co., Ltd., holds 61.17% of the shares, totaling 1,160,272,587 shares[148]. - The company has not conducted any repurchase transactions among the top 10 common shareholders during the reporting period[158]. - There were no changes in the controlling shareholder or actual controller during the reporting period[160]. - The company has no preferred shares outstanding during the reporting period[163]. Compliance and Regulatory Matters - The half-year financial report has not been audited[89]. - There were no administrative penalties related to environmental issues during the reporting period[83]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[87]. - The company has not reported any violations regarding external guarantees during the reporting period[88]. - No related party asset or equity acquisitions or sales occurred during the reporting period[104]. - No joint external investment related party transactions took place during the reporting period[105]. - There were no related party debt transactions during the reporting period[106]. - The company provided no guarantees to shareholders, actual controllers, or related parties[133]. - There were no other significant matters requiring explanation during the reporting period[138].

Financial Performance - The company's operating revenue for Q1 2021 was ¥574,394,696.69, representing a 64.56% increase compared to ¥349,057,219.39 in the same period last year[10] - The net profit attributable to shareholders was -¥379,473,173.30, a decline of 14.97% from -¥330,072,792.12 year-on-year[10] - The basic and diluted earnings per share were both -¥0.200, reflecting a 14.94% increase in losses compared to -¥0.174 in the same period last year[10] - Total comprehensive income attributable to the parent company was -388,993,643.81 CNY, compared to -284,312,167.76 CNY in the previous period, reflecting a significant decline[73] Cash Flow - The net cash flow from operating activities increased by 8.31% to ¥252,695,213.68, compared to ¥233,297,222.55 in the previous year[10] - Cash received from sales and services rose by 56.20% to CNY 1,322,231,607.38, reflecting increased sales receipts[24] - Cash paid for the construction of fixed assets decreased by 73.45% to CNY 17,184,686.80, due to reduced costs for self-owned properties[24] - Cash flow from financing activities showed a net outflow of -420,371,138.19 CNY, compared to -539,891,781.60 CNY in the previous period, indicating an improvement[87] Assets and Liabilities - The total assets at the end of the reporting period were ¥49,811,662,910.98, down 1.15% from ¥50,391,037,662.63 at the end of the previous year[10] - The total liabilities were CNY 42.04 billion, slightly decreased from CNY 42.05 billion in the previous month, with current liabilities accounting for CNY 30.11 billion[53] - The company's equity attributable to shareholders was CNY 6.08 billion, down from CNY 6.61 billion in the previous month[56] - The total liabilities to equity ratio remained stable, indicating a consistent leverage position[56] Operating Costs - Operating costs rose by 62.01% to CNY 580,843,875.26, primarily due to increased revenue leading to higher costs[24] - Total operating costs amounted to ¥1,091,437,805.36, up from ¥809,475,230.67, indicating an increase of about 35%[67] - The financial expenses for the quarter were ¥298,999,445.51, compared to ¥271,076,252.48 in the previous period, representing an increase of approximately 10.3%[67] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,869[14] - The largest shareholder, Xinhua Lian Holdings Co., Ltd., held 61.17% of the shares, amounting to 1,160,272,587 shares[14] Government Support - The company received government subsidies amounting to ¥4,970,807.74 during the reporting period[10] Investment Activities - Cash flow from investment activities resulted in a net outflow of -16,836,717.57 CNY, compared to -64,715,193.91 CNY in the previous period[85] - Cash flow from investment activities resulted in a net inflow of 1,047,609.60 CNY, a recovery from a net outflow of -328,348.00 CNY in the previous period[91] Employee Stock Ownership - The company implemented its first employee stock ownership plan, purchasing 8,468,847 shares at an average price of CNY 2.29 per share[28]

Financial Performance - The company's operating revenue for 2020 was ¥7,083,884,205.43, a decrease of 40.91% compared to ¥11,988,457,548.33 in 2019[24] - The net profit attributable to shareholders for 2020 was a loss of ¥1,285,505,522.46, representing a decline of 258.72% from a profit of ¥809,930,745.43 in 2019[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥1,367,914,617.83, down 366.64% from a profit of ¥513,023,755.33 in 2019[24] - The basic and diluted earnings per share for 2020 were both -0.68 CNY, a decrease of 258.14% compared to 0.43 CNY in 2019[28] - The total assets as of the end of 2020 were 50,391,037,662.63 CNY, representing a decrease of 5.03% from 53,062,284,910.39 CNY at the end of 2019[28] - The net profit attributable to shareholders of the listed company for 2020 was -324,960,862.45 CNY, compared to -287,399,908.38 CNY in 2019[34] - Total revenue for 2020 was ¥7,083,884,205.43, a decrease of 40.91% compared to ¥11,988,457,548.33 in 2019[75] - Revenue from property sales was ¥5,292,063,785.70, accounting for 74.71% of total revenue, down 41.94% from ¥9,115,402,115.56 in 2019[75] - The company reported a significant decline in revenue from the cultural tourism sector, which generated ¥1,112,468,277.98, down 44.78% from ¥2,014,508,411.08 in 2019[75] Cash Flow and Financing - The net cash flow from operating activities for 2020 was ¥3,115,417,242.92, an increase of 4.18% compared to ¥2,990,357,620.20 in 2019[24] - The total cash inflow from operating activities decreased by 30.38% to ¥9,818,752,461.94 compared to ¥14,104,290,150.03 in the previous year[91] - The total cash outflow from investing activities decreased significantly by 78.75% to ¥387,769,474.25 from ¥1,824,860,354.81[91] - The total cash inflow from financing activities decreased by 65.97% to ¥5,059,377,065.18 compared to ¥14,868,174,624.04 in the previous year[91] - The net cash flow from financing activities showed a significant increase of 61.99%, resulting in a net outflow of ¥3,275,922,887.03[91] - The company's cash and cash equivalents decreased by 43.67% to a net increase of ¥-394,231,812.79 from ¥-699,886,429.69[91] - The financing balance from bank loans was ¥12,797,395,738.25 with an average financing cost of 4.35%-9.5%[71] - Total financing from trust financing was ¥4,561,900,000.00, with a cost range of 7.5%-12.4%[71] Operational Challenges - The audit report indicated significant uncertainties regarding the company's ability to continue as a going concern[6] - The company has faced challenges in maintaining profitability, with negative net profits reported for the last three accounting years[27] - The company faced liquidity challenges due to the COVID-19 pandemic, leading to overdue debts and some assets being frozen, but the overall impact on operations was limited[52] - The company has ongoing projects with a total investment amount of 2.6 billion yuan, with significant progress in various locations including Hainan and Hunan[61] - The company is required to repay a total of RMB 248.55 million under the entrusted debt investment agreement, including principal, interest, and penalties[173] - The company has experienced financial difficulties, leading to overdue financial debts and some assets being frozen or involved in litigation[179] Strategic Focus and Future Plans - The company is focusing on cultural tourism project operations and management as part of its business strategy[22] - The company plans to expand its market presence and enhance product offerings in the coming year[74] - The company plans to use the undistributed profits primarily for debt repayment and daily operations to ensure stable development[139] - The company aims to enhance its internal control mechanisms and risk management capabilities in response to the challenges posed by its strategic layout in the cultural tourism and real estate sectors[124] - The company plans to deepen enterprise reform and enhance governance to improve operational efficiency[123] - The company will implement targeted marketing strategies based on market and policy changes to ensure stable development in real estate sales[121] Project Development and Sales - The company achieved a signed sales area of 534,600 square meters and a sales amount of 7.119 billion yuan during the reporting period, providing essential support amid significant pandemic and market downturn impacts[54] - The company reported a construction area of 2.38 million square meters and a completion area of 586,700 square meters in 2020, ensuring timely delivery of projects[55] - The cumulative pre-sale area for the Huizhou Xinhua Lian Plaza project is 410,226.49 square meters, with a pre-sale amount of 73.97 million yuan in the current period[66] - The company is actively expanding its market presence with multiple ongoing projects across various regions, including residential, commercial, and tourism developments[62] - The company reported a significant increase in pre-sale amounts across various projects, indicating strong market demand and effective sales strategies[62] Governance and Compliance - The board of directors acknowledged a non-standard audit report and emphasized the need for measures to improve operational and financial conditions[156] - The company has committed to improving its governance structure and management capabilities to prevent significant operational risks[124] - The company has established a three-year shareholder return plan (2020-2022) to ensure a stable dividend policy and protect the rights of minority shareholders[139] - The company has received a total of 19 inquiries from investors during the reporting period, indicating active engagement with stakeholders[134] Social Responsibility - The company actively engaged in social responsibility initiatives, including donations and rent reductions for affected small businesses during the pandemic[57]

新华联文化旅游发展股份有限公司 2020 年第三季度报告全文 1 新华联文化旅游发展股份有限公司 2020 年第三季度报告 2020 年 10 月 新华联文化旅游发展股份有限公司 2020 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。 公司负责人马晨山、主管会计工作负责人苟永平及会计机构负责人(会计主 管人员)刘华明声明：保证季度报告中财务报表的真实、准确、完整。 2 新华联文化旅游发展股份有限公司 2020 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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|--------------------------------|-------------------------|-------- ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,724,665,851.45, a decrease of 47.27% compared to ¥3,270,649,557.91 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was -¥564,971,484.81, representing a decline of 632.53% from a profit of ¥106,091,991.04 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥612,360,770.83, a significant drop of 1,625.10% compared to -¥35,497,195.38 in the same period last year[24]. - The net cash flow from operating activities was ¥1,224,523,056.93, down 12.21% from ¥1,394,838,723.82 in the previous year[24]. - The total assets at the end of the reporting period were ¥51,823,206,014.14, a decrease of 2.34% from ¥53,062,284,910.39 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were ¥7,350,600,502.57, down 7.19% from ¥7,919,897,888.39 at the end of the previous year[24]. - The basic and diluted earnings per share were both -¥0.30, a decrease of 600.00% from ¥0.06 in the same period last year[24]. - The company reported a revenue of CNY 1.72 billion for the first half of the year, a decrease of 47.27% compared to CNY 3.27 billion in the same period last year[52]. - The net profit attributable to the parent company was CNY -565 million, a decrease of 632.53% year-on-year[52]. - The company reported a net cash flow from operating activities of CNY 1.22 billion, a decrease of 12.21% year-on-year[52]. - The company’s financial expenses increased by 27.35% to CNY 557.93 million compared to the previous year[52]. - The company’s cash and cash equivalents decreased by CNY 251.16 million, a decline of 152.13% compared to the previous year[52]. Operational Challenges - The company faced significant operational challenges, leading to a substantial decline in both revenue and profit metrics compared to the previous year[24]. - The COVID-19 pandemic has temporarily impacted the company's operations, with all cultural tourism sites, hotels, and travel agencies suspended in the first quarter[83]. - The company faced significant impacts from the COVID-19 pandemic, leading to a substantial decrease in operating cash flow and liquidity issues, resulting in a failure to repay the "15 Xinhua Lian Control MTN001" notes on time[98]. - The company is actively responding to local policies for resuming work and production to mitigate losses caused by the pandemic[83]. - The company faced significant operational disruptions as its four major cultural tourism sites, parks, hotels, shopping malls, and sales offices were partially closed during the pandemic, severely impacting cash inflow[199]. Investment and Assets - The company has increased its long-term equity investments by 5.12% compared to the beginning of the period, primarily due to recognized investment income[35]. - The overseas asset in South Korea is valued at approximately $661.31 million, accounting for 9.00% of the company's net assets[36]. - The company has developed a comprehensive industrial chain, enhancing operational efficiency and reducing costs[41]. - The company holds 8.46% of shares in Changsha Bank, providing a stable profit source[40]. - The company has a total of 20 real estate projects in key cities, contributing to its diversified business model[40]. - The company's inventory stood at approximately ¥23.09 billion, which is 44.55% of total assets, showing a slight increase from the previous period[64]. - Long-term borrowings increased to approximately ¥18.00 billion, accounting for 34.73% of total liabilities, reflecting a 3.33% increase from the previous year[64]. Strategic Initiatives - The company has established four major cultural tourism projects, focusing on enhancing operational efficiency and profitability[34]. - The company is actively promoting the integration of cultural tourism and real estate, aiming for high-quality development in the "cultural tourism economy"[34]. - The company has indicated plans for market expansion and new product development in response to changing market conditions[60]. - The company plans to optimize its product structure and improve product quality to ensure stable development in the real estate sector amid increasing competition[80]. - The company implemented a sales strategy tailored to different cities and products, resulting in improved sales performance in various projects[48]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[8]. - The company did not implement any employee stock ownership plans or other incentive measures during the reporting period[99]. - The company’s total shares amount to 1,896,690,420, with 99.97% being unrestricted shares[155]. - The largest shareholder, Xinhua Lian Holdings, holds 61.17% of the shares, totaling 1,160,272,587[159]. - The company’s management personnel are subject to a 75% lock-up period for their shares[155]. - The company experienced changes in its board members, with some resignations and new appointments in 2020[184]. Financial Instruments and Guarantees - The company issued "15 Hualian Bond" with a total balance of 1,128.6931 million yuan and an interest rate of 8.50%[187]. - The bond was issued on April 1, 2015, and is set to mature on April 1, 2022, with annual interest payments[187]. - The company has established a series of mechanisms to ensure the timely repayment of bond principal and interest, including a long-term communication mechanism with the bond trustee[194]. - The bondholders agreed to adjust the repayment date from April 1, 2022, to September 30, 2020, to alleviate repayment pressure[197]. - The company provided guarantees totaling 35,000 for Wuhu Xinhua Lian Cultural Tourism Investment Management Co., with an actual guarantee amount of 24,000[122]. - The company reported a total guarantee amount of 2,300,327, with an actual guarantee balance of 1,838,466, representing 250.11% of the company's net assets[141]. Legal and Compliance - The company did not experience any bankruptcy reorganization during the reporting period[92]. - There are no significant litigation or arbitration matters reported during the period[93]. - The company has not faced any media scrutiny during the reporting period[96]. - There are no penalties or rectification measures reported during the period[97]. - The company has no violations regarding external guarantees during the reporting period[142].

Financial Performance - The company's operating revenue for 2019 was ¥11,988,457,548.33, a decrease of 14.37% compared to ¥14,001,004,940.28 in 2018[26] - The net profit attributable to shareholders for 2019 was ¥809,930,745.43, down 31.74% from ¥1,186,458,516.42 in 2018[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥513,023,755.33, a decrease of 47.04% compared to ¥968,624,976.64 in 2018[26] - The net cash flow from operating activities was ¥2,990,357,620.20, down 22.17% from ¥3,842,127,389.40 in 2018[26] - Basic earnings per share decreased by 31.75% to CNY 0.43 compared to CNY 0.63 in the previous year[29] - The weighted average return on equity dropped to 10.32%, down from 16.64% year-on-year, a decrease of 6.32%[29] - Total assets as of December 31, 2019, were CNY 53,062,284,910.39, reflecting a decrease of 1.01% from CNY 53,601,938,113.44 at the end of 2018[29] - The company reported a non-recurring gain of CNY 296,906,990.10 for the year, up from CNY 217,833,539.78 in 2018[37] Business Strategy and Focus - The company has shifted its business focus over the years, with the current scope including cultural tourism project operations and management[24] - The company is focused on transforming its main business from traditional real estate to cultural tourism, with a strategic emphasis on operational management and service quality[54] - The company has established overseas subsidiaries in South Korea and Malaysia, with the Malaysian subsidiary already generating profits[45] - The company has expanded its cultural tourism projects, including the grand opening of the Xining Children's Dream Park, which features several unique attractions[40] - The company launched three new cultural tourism products in the second phase of the Tongguan Kiln Ancient Town, contributing to a significant increase in visitor numbers and revenue at the Sichuan Langzhong Ancient City[40] Operational Developments - The company successfully opened four major cultural tourism projects, including the 5A scenic area Langzhong Ancient City, which was taken over on January 1, 2019, and saw significant operational improvements[55] - The company launched three major new tourism products at the Copper Official Kiln Ancient Town on June 28, 2019, including a large original performance show and a world-class 5D cinema, receiving widespread recognition[55] - During the National Day holiday, the four major scenic areas attracted over 500,000 visitors, demonstrating the effectiveness of the company's marketing and operational strategies[56] - The company has implemented a large scenic area management model, optimizing operational management systems and enhancing service standards across its tourism projects[56] Financial Management and Investments - The company has a total financing balance of 25,509,451,628.37 CNY, with an average financing cost of 8.66%[78] - The financing from bank loans amounts to 14,288,248,917.48 CNY, with a cost range of 4.57%-9%[78] - The company reported a total of CNY 205.75 million in raised funds, with CNY 66.55 million utilized during the reporting period[114] - The cumulative investment in the Hunan Liling City housing reconstruction project reached CNY 59.22 million, achieving 100.73% of the planned investment[118] - The cumulative investment in the Ningxia Yinchuan Railway Station housing reconstruction project reached CNY 108.09 million, achieving 100.29% of the planned investment[118] Challenges and Risks - The company is facing operational challenges due to the pandemic, affecting its tourism and real estate sectors significantly[158] - The company anticipates continued tight financing policies in 2020, prompting a focus on diversified financing methods to reduce overall debt and improve financial structure[138] - The company faces risks from policy changes, industry competition, and the impact of COVID-19 on project delivery and sales, necessitating a rational investment approach[143] Shareholder and Dividend Policies - The company plans not to distribute cash dividends or issue bonus shares[9] - The company will not distribute cash dividends for the 2019 fiscal year due to cash flow constraints caused by the COVID-19 pandemic, with unallocated profits primarily used for debt repayment and daily operations[158] - The company has a clear and complete profit distribution policy, adhering to regulations and ensuring the protection of minority shareholders' rights[159] - The company has established a three-year shareholder return plan from 2017 to 2019, focusing on stable dividend policies[158] Corporate Governance and Compliance - The company has engaged Tianjian Accounting Firm for auditing, which issued a report with an emphasis on certain matters[6] - The company has not disclosed any significant undisclosed information during the communication activities[153] - The company did not experience any significant accounting errors requiring retrospective restatement during the reporting period[185] - The company has not reported any significant market expansion or acquisition strategies during the reporting period[196]

新华联文化旅游发展股份有限公司 2020 年第一季度报告全文 1 新华联文化旅游发展股份有限公司 2020 年第一季度报告 2020 年 04 月 新华联文化旅游发展股份有限公司 2020 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。 公司负责人马晨山、主管会计工作负责人苟永平及会计机构负责人(会计主 管人员)刘华明声明：保证季度报告中财务报表的真实、准确、完整。 2 新华联文化旅游发展股份有限公司 2020 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 | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|-------------------|---------------------------| | □ ...

Financial Performance - Operating revenue decreased by 26.47% to CNY 2,354,092,426.33 year-on-year[9] - Net profit attributable to shareholders decreased by 67.31% to CNY 57,089,330.29 compared to the same period last year[9] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 60.20% to CNY 73,090,313.62[9] - Basic earnings per share decreased by 66.67% to CNY 0.03[9] - The weighted average return on net assets decreased by 1.86% to 0.79%[9] - Total operating revenue for the current period is ¥2,354,092,426.33, a decrease of 26.4% from ¥3,201,702,808.63 in the previous period[64] - Net profit for the current period is ¥52,112,264.62, a decline of 74.6% compared to ¥205,211,252.44 in the previous period[67] - The company's operating profit decreased to ¥128,764,258.79 from ¥337,725,832.14, representing a drop of 61.9%[67] - The basic earnings per share for the current period is ¥0.03, down from ¥0.09 in the previous period[71] - The company reported a total comprehensive income of ¥67,436,988.34, down from ¥198,103,166.79 in the previous period[71] Assets and Liabilities - Total assets increased by 6.24% to CNY 56,947,823,971.34 compared to the end of the previous year[9] - The construction in progress increased to ¥5,804,513,509.83, up 38.33% from ¥4,196,146,627.86, mainly due to increased costs of self-held projects[23] - Long-term borrowings increased to ¥18,549,914,351.96, reflecting a 33.23% rise from ¥13,923,056,767.79, attributed to new long-term borrowings[23] - Total liabilities increased to ¥47,757,588,358.70, up from ¥43,621,535,210.36, representing a growth of approximately 5.2% year-over-year[50] - Non-current liabilities rose to ¥19,362,504,726.25, compared to ¥16,060,920,878.06, marking an increase of about 14.3%[50] - Current liabilities totaled ¥28,395,083,632.45, up from ¥27,560,614,332.30, reflecting a growth of approximately 3.0%[50] - The company's total equity decreased to ¥9,190,235,612.64 from ¥9,980,402,903.08, indicating a decline of about 7.9%[53] - The company's total liabilities decreased to ¥30,402,456,911.64 from ¥31,133,460,315.25, indicating a reduction of approximately 2.3%[47] Cash Flow - Cash flow from operating activities decreased by 12.99% to CNY 1,720,195,841.26 year-to-date[9] - The net cash flow from operating activities improved to -¥902,468,502.35, a 53.32% reduction in outflow compared to -¥1,933,473,925.74, due to decreased cash outflow for self-held properties[23] - The net cash flow from financing activities improved to -¥756,243,716.42, a 75.90% reduction in outflow from -¥3,137,778,094.84, mainly due to increased cash received from borrowings[23] - Cash inflow from operating activities was 7,836,107,099.57 yuan, down from 10,120,312,097.93 yuan in the previous period, representing a decline of approximately 22.5%[121] - The net cash flow from operating activities was 1,720,195,841.26 yuan, down from 1,976,995,109.10 yuan in the previous period, reflecting a decline of approximately 13%[121] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,740[13] - The largest shareholder, Xinhua Lian Holdings Co., Ltd., holds 61.17% of the shares[13] Government Support - Government subsidies recognized in the current period amounted to CNY 143,061,269.01[9] Other Financial Metrics - Management expenses increased to ¥181,110,731.76 from ¥164,866,349.73, reflecting a rise of 9.5%[64] - The company incurred financial expenses of ¥666,604,642.81, up from ¥518,749,209.37, reflecting a rise of 28.54%[80] - Tax expenses for the current period are ¥52,356,674.76, down 57.6% from ¥123,545,885.70 in the previous period[67] - The company reported a significant increase in employee compensation payments, totaling CNY 28,713,113.40, compared to CNY 21,490,969.69 in the previous period[132]