证券代码：000978 证券简称：桂林旅游 编号：2015-002 桂林旅游股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 华泰证券刘洋，鹏华基 ...

证券代码：000978 证券简称：桂林旅游 编号：2017-002 桂林旅游股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|-----------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

桂林旅游股份有限公司投资者关系活动记录表 编号：2021-002 | --- | --- | --- | |------------------------|--------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | √特定对象调研 | □分析师 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 39,999,232.48, a decrease of 70.95% compared to CNY 137,686,901.60 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was a loss of CNY 133,711,650.36, representing a decline of 110.19% from a loss of CNY 63,615,015.74 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 140,550,629.20, down 107.91% from a loss of CNY 67,602,487.00 in the same period last year[23]. - The basic and diluted earnings per share were both CNY -0.354, reflecting a 100% decline from CNY -0.177 in the same period last year[23]. - The weighted average return on net assets was -12.00%, a decrease of 7.05% from -4.95% in the previous year[23]. - The company reported a total revenue of CNY 39.99 million, a decrease of 70.95% year-on-year due to the impact of COVID-19 restrictions on tourist flow[41]. - Total operating costs were CNY 184.09 million, down 16.63% year-on-year, reflecting reduced operational activity[41]. - The net profit attributable to shareholders was CNY -133.71 million, an increase in loss of 110.19% compared to the previous year[41]. - The number of visitors received was 707,200, a decline of 68.97% year-on-year, with significant drops in various segments[39]. - The revenue from the tourism service sector was CNY 37.18 million, accounting for 92.94% of total revenue, down 72.56% year-on-year[42]. Cash Flow and Liquidity - The net cash flow from operating activities was a negative CNY 33,010,738.12, which improved by 3.19% compared to a negative CNY 34,097,751.77 in the previous year[23]. - Cash and cash equivalents increased by 1,093.49% to CNY 175.57 million, largely due to fundraising activities[41]. - The company's operating cash flow net amount was CNY -33.01 million, a slight improvement of 3.19% year-on-year[41]. - The cash flow from operating activities showed a net outflow of ¥33,010,738.12, slightly improved from a net outflow of ¥34,097,751.77 in the same period last year[195]. - The total cash inflow from financing activities reached 673,257,850.00 CNY, a substantial increase from 184,000,000.00 CNY in the first half of 2021[197]. - The cash outflow for repaying debts was 434,240,000.00 CNY, significantly higher than 132,695,000.00 CNY in the first half of 2021[197]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,649,105,302.97, an increase of 3.64% from CNY 2,556,072,476.94 at the end of the previous year[23]. - The total liabilities decreased to CNY 1,205,424,674.33 from CNY 1,435,888,354.96, a reduction of about 16%[183]. - The company's equity attributable to shareholders increased to CNY 1,435,659,032.13 from CNY 1,103,777,056.06, marking a growth of approximately 30.1%[183]. - Long-term borrowings decreased to CNY 615,540,000.00 from CNY 796,050,000.00, a decline of approximately 22.7%[183]. - The company's inventory decreased to CNY 4,835,000.97 from CNY 5,266,208.70, a decline of approximately 8.2%[181]. Investment and Financing Activities - The company raised a total of RMB 478,572,900 through a non-public offering of 108,030,000 A shares at a price of RMB 4.43 per share[62]. - After deducting issuance costs of RMB 12,877,358.49, the net proceeds amounted to RMB 465,695,541.51, which were used to repay bank loans[62]. - The company issued 10.8 million shares to its controlling shareholder, raising CNY 465.70 million in net funds[41]. - The company has ongoing significant non-equity investments, indicating a focus on expanding its investment portfolio[57]. - The company has provided guarantees for loans taken by its subsidiaries, indicating a strategy to support growth projects[54]. Market Position and Competitive Advantage - The company holds a 100% stake in the five-star Guilin Lijiang Waterfall Hotel and operates 41 star-rated cruise ships with a total capacity of 4,126 passengers, accounting for approximately 32.55% of the total star-rated cruise capacity in Guilin[30]. - The company has a 40-year exclusive operating right for the Two Rivers and Four Lakes scenic area, which is a significant competitive advantage in the tourism sector[36]. - The company’s market position is supported by its monopoly on key tourism resources and strong integration capabilities[35]. - The company is positioned as a key player in the development of Guilin as a world-class tourist city, leveraging its resource advantages[34]. Operational Challenges and Strategic Changes - The company has experienced significant operational challenges due to the COVID-19 pandemic, impacting overall performance compared to pre-pandemic levels[34]. - The company plans to shift from a heavy asset, high-cost operation model to a light asset, low-cost operation model to enhance its risk resilience[74]. - The company plans to enhance its marketing efforts and improve product recognition to increase market share in response to competitive pressures from other tourism enterprises[75]. - The company aims to establish a two-tier marketing system to improve operational efficiency and resource allocation across its various business units[77]. Related Party Transactions - The total amount of related party transactions for the year 2022 is estimated to be 32,335.64 million yuan[110]. - The company purchased materials and tickets from related parties amounting to 1,957.74 million yuan, representing 54.85% of the total transaction amount[110]. - The company also purchased fuel from related parties for 749.94 million yuan, which is 31.81% of the total transaction amount[110]. - The company provided services to related parties, generating revenue of 2,141.41 million yuan, accounting for 0.54% of the total transaction amount[110]. - The company has established pricing principles for related party transactions to ensure fairness and transparency[110]. Future Outlook - Future outlook indicates a projected revenue growth of 20% for the second half of 2022, driven by new marketing strategies and product offerings[103]. - The company plans to expand its market presence by entering three new provinces by the end of 2022, aiming for a 15% increase in market share[103]. - The management has set a performance guidance of 10% revenue growth for the next quarter, reflecting confidence in ongoing projects[105].

Financial Performance - The company's operating revenue for Q1 2022 was ¥22,219,223.05, a decrease of 44.85% compared to ¥40,291,008.95 in the same period last year[3] - The net profit attributable to shareholders for Q1 2022 was -¥71,315,050.86, representing a 30.37% increase in loss compared to -¥54,700,672.13 in Q1 2021[3] - The net cash flow from operating activities was -¥49,440,590.88, a decline of 14.12% from -¥43,324,740.80 in the previous year[3] - Total operating revenue for Q1 2022 was ¥22,219,223.05, a decrease of 44.8% compared to ¥40,291,008.95 in Q1 2021[36] - Net profit for Q1 2022 was a loss of ¥75,049,793.64, compared to a loss of ¥58,731,859.06 in Q1 2021, representing a 27.7% increase in loss[36] - Cash flow from operating activities for Q1 2022 was a net outflow of ¥49,440,590.88, worsening from a net outflow of ¥43,324,740.80 in Q1 2021[39] - Cash flow from investing activities resulted in a net outflow of ¥14,663,194.24, compared to a net outflow of ¥4,268,703.89 in the previous year[39] - Cash flow from financing activities generated a net inflow of ¥106,426,896.81, an increase from ¥57,905,905.60 in Q1 2021[39] - Basic and diluted earnings per share for Q1 2022 were both -0.198, compared to -0.152 in Q1 2021[36] Assets and Liabilities - The total assets at the end of Q1 2022 were ¥2,576,270,046.11, an increase of 0.79% from ¥2,556,072,476.94 at the end of the previous year[3] - The equity attributable to shareholders decreased by 6.46% to ¥1,032,462,005.21 from ¥1,103,777,056.06 at the end of the previous year[3] - The total current assets as of March 31, 2022, increased to RMB 297.30 million from RMB 258.66 million as of December 31, 2021, representing a growth of approximately 14.93%[33] - The total liabilities increased to RMB 1.53 billion as of March 31, 2022, compared to RMB 1.44 billion as of December 31, 2021, indicating a rise of about 6.67%[35] - The company's total assets reached RMB 2.58 billion as of March 31, 2022, slightly up from RMB 2.56 billion at the end of 2021[34] Cash and Borrowings - The net increase in cash and cash equivalents was ¥4,232.31 million, a 310.41% increase from ¥1,031.25 million in the previous year[14] - The company increased short-term borrowings by 270.99% to ¥10,205.52 million, reflecting a significant rise in bank loans[9] - Short-term borrowings surged to RMB 102.06 million as of March 31, 2022, compared to RMB 27.51 million at the end of 2021, marking an increase of about 270.73%[35] - The long-term borrowings increased to RMB 841.31 million as of March 31, 2022, compared to RMB 796.05 million at the end of 2021, showing an increase of approximately 5.68%[35] - The company has secured a loan of up to RMB 60 million for the development of the "Vivid Lotus" project, with a cumulative borrowing of RMB 30 million as of the report date[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 33,806[17] - The largest shareholder, Guilin Tourism Development Group Co., Ltd., holds 18.36% of shares, totaling 66,120,473 shares[17] - Guilin Airlines Tourism Group Co., Ltd. holds 16.00% of shares, totaling 57,616,000 shares, which are pledged[17] - The company plans to issue up to 10,803,000 shares at a price of 4.43 RMB per share, raising a maximum of 478.57 million RMB to repay bank loans[19] - The non-public offering of shares has been approved by the China Securities Regulatory Commission as of June 25, 2021[19] Operational Challenges - The company reported a 45% decrease in visitor reception, significantly impacting revenue due to COVID-19 restrictions[12] - The company incurred a loss of ¥41.11 million from the disposal of scrapped assets in its cruise division[6] Legal and Corporate Developments - The company is involved in litigation regarding a decision made at the 2020 second extraordinary general meeting, with the latest ruling upholding the original decision[23] - Guilin Danxia Hot Spring Tourism Co., Ltd. is undergoing bankruptcy liquidation, which has been approved by the company's board and shareholders[25] - The management of Danxia Hot Spring Company signed an auction confirmation with the buyer for a total of RMB 52 million for the assets, including land use rights and equipment[27] - As of April 15, 2022, the available bankruptcy assets for distribution amounted to RMB 52.9985 million, with a cash recovery of RMB 44.1534 million for Zijiang Danxia Company[28] Other Information - The company did not report any new product or technology developments during this quarter[36] - The first quarter report was not audited[40] - The Elephant Trunk Hill scenic area was announced to be fully open for free starting January 31, 2022, affecting the company's collaboration with its controlling shareholder[22] - The company reported a cash balance of RMB 111.66 million as of March 31, 2022, up from RMB 69.33 million at the end of 2021, reflecting a growth of approximately 60.91%[33]

Financial Performance - Guilin Tourism reported no cash dividends, stock bonuses, or capital reserve transfers for the year[6]. - The company has not disclosed any specific financial performance metrics in the provided documents[14]. - The company's operating revenue for 2021 was ¥238,740,666.57, a decrease of 6.39% compared to ¥255,027,525.93 in 2020[20]. - The net profit attributable to shareholders was -¥212,691,821.12, an improvement of 20.18% from -¥266,454,906.80 in the previous year[20]. - The net cash flow from operating activities was -¥31,131,786.16, showing a 29.98% improvement compared to -¥44,463,268.13 in 2020[20]. - The total assets at the end of 2021 were ¥2,556,072,476.94, a decrease of 4.13% from ¥2,666,294,373.18 at the end of 2020[20]. - The net assets attributable to shareholders decreased by 16.16% to ¥1,103,777,056.06 from ¥1,316,468,877.18 in 2020[20]. - The basic and diluted earnings per share were both -¥0.591, an improvement of 20.14% from -¥0.740 in 2020[20]. - The company reported a total of ¥230,397,879.92 in operating revenue after deducting unrelated business income, which was slightly up from ¥228,977,976.07 in 2020[20]. - The company experienced a significant reduction in non-recurring losses, with a total of ¥7,522,051.30 in non-recurring gains in 2021 compared to ¥102,884,814.17 in 2020[26]. Business Expansion and Strategy - The company plans to expand its business scope to include inbound and outbound tourism services, as well as travel agency operations[18]. - The company is focusing on high-quality development and innovation in the tourism sector as part of the "14th Five-Year Plan" for tourism[31]. - The company aims to enhance domestic tourism and gradually promote inbound tourism as the international pandemic situation improves[31]. - The company is focused on expanding its market presence through the Shengdong Lotus project, which is currently under construction[75]. - The company plans to continue monitoring and adjusting its financial strategies in response to ongoing market conditions and operational challenges[70]. - The company is actively exploring new business models such as "Tourism + Technology" to adapt to changing market dynamics[90]. Visitor Statistics - The total number of visitors received by the company was 4.0254 million, representing a year-on-year increase of 1.78%[40]. - The company's scenic spots received a total of 1.744 million visitors, a year-on-year increase of 29.99%[40]. - The company received 256,000 visitors through its tourism bus services, a year-on-year increase of 51.91%[40]. - The number of visitors received by the company increased by 1.78% year-on-year in 2021, but the second half of the year saw a decline due to the resurgence of COVID-19[41]. Operational Efficiency and Cost Management - Operating costs for the company were CNY 258.46 million, a decrease of 9.65% year-on-year, attributed to the decline in revenue and asset transfers in 2020[42]. - Total operating costs were 447.96 million yuan, down 7.78% year-on-year[97]. - The company has implemented measures to enhance operational efficiency and reduce costs in response to the ongoing pandemic[95]. - The company has established a two-level marketing system consisting of a central service platform and sales departments of subsidiaries to enhance operational efficiency[102]. Corporate Governance and Management - The company maintains independent operations from its controlling shareholder, with clear separation in personnel, assets, finance, and business operations[119]. - The company has a structured and independent board and supervisory committee, ensuring effective governance and compliance with regulations[123]. - The company has committed to improving its performance evaluation and incentive mechanisms for management[116]. - The company actively respects and protects the rights of stakeholders, promoting balanced interests among shareholders, creditors, employees, and customers[116]. Legal and Compliance Issues - Guilin Tourism has been involved in various legal proceedings, with decisions being made in 2020 and 2021 that could influence its financial outlook[199]. - The company has disclosed its legal challenges through public announcements, indicating transparency in its operations[199]. - Guilin Tourism's legal disputes may have financial implications, although specific amounts related to claims were not detailed in the report[199]. Sustainability and Social Responsibility - The company is committed to sustainability initiatives, with plans to reduce carbon emissions by 20% over the next three years[140]. - The company has actively engaged in poverty alleviation efforts by ensuring that all 41 impoverished households in Sanhe Village have purchased new rural cooperative medical insurance, achieving a 100% medical insurance coverage rate[182]. - The company has integrated corporate social responsibility into its development strategy, ensuring compliance with legal regulations and protecting stakeholder interests[178]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 15% to 1.725 billion yuan[146]. - The company plans to expand its market presence by entering three new regional markets in 2022, targeting a 10% increase in market share in these areas[200]. - The company is exploring potential mergers and acquisitions to enhance its service offerings, with a focus on acquiring local travel agencies to strengthen its operational capabilities[200].

Financial Performance - The company's operating revenue for Q3 2021 was ¥65,458,459.12, a decrease of 13.24% compared to the same period last year[3] - The net profit attributable to shareholders was -¥34,049,871.05, representing an increase in loss of 104.71% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥36,185,784.33, a 39.82% increase in loss compared to the previous year[3] - The company reported a net loss attributable to shareholders increased to CNY -204,655,389.09 from CNY -106,990,502.30, indicating a worsening of approximately 91%[25] - Net profit for the first nine months was a loss of CNY 108,996,767.61, an improvement from a loss of CNY 151,435,560.12 in the previous year[27] - The total comprehensive income for the period was a loss of CNY 108,996,767.61, compared to a loss of CNY 151,435,560.12 in the previous year[27] - The company reported a basic and diluted earnings per share of -0.271, an improvement from -0.356 in the previous year[27] Assets and Liabilities - The total assets at the end of Q3 2021 were ¥2,589,356,103.63, a decrease of 2.89% from the end of the previous year[3] - The company's total liabilities increased to CNY 1,344,385,301.64 as of September 30, 2021, compared to CNY 1,312,326,803.59 at the end of 2020, representing an increase of about 2.4%[25] - The total equity attributable to the owners of the parent company decreased to CNY 1,218,803,990.39 from CNY 1,316,468,877.18, indicating a decline of approximately 7.4%[25] - The company's cash and cash equivalents decreased to CNY 45,252,446.33 from CNY 46,436,409.76, a decline of about 2.6%[23] - Total current assets amounted to 308,592,692.24, with cash and cash equivalents at 46,436,409.76[31] - Non-current assets totaled 2,357,701,680.94, including long-term equity investments of 430,030,958.16 and fixed assets of 1,128,329,648.94[32] - The company has a long-term borrowing of 859,620,000.00, indicating significant leverage in its capital structure[33] Cash Flow - The company reported a cash flow from operating activities net amount of -¥3,787,538.75, a significant decrease of 95.11%[3] - The net cash flow from operating activities was -378.75 million RMB, a decrease of 95.11% year-on-year[9] - Cash flow from operating activities showed a net outflow of CNY 3,787,538.75, an improvement from a net outflow of CNY 77,417,118.39 in the same period last year[29] - Cash flow from investing activities resulted in a net outflow of CNY 7,738,590.32, compared to a net inflow of CNY 4,292,375.32 in the previous year[29] - Cash flow from financing activities generated a net inflow of CNY 10,542,165.64, down from CNY 72,794,969.36 in the same period last year[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,702[13] - The largest shareholder, Guilin Tourism Development Group, holds 18.36% of the shares, totaling 66,120,473 shares[13] - The company plans to issue up to 108,030,000 shares at a price of 4.43 RMB per share, aiming to raise no more than 478.57 million RMB for repaying bank loans[15] - The approval for the non-public offering of shares was granted by the China Securities Regulatory Commission on June 25, 2021[15] - The board of directors extended the validity period of the non-public offering resolution by 12 months, until October 29, 2022[16] - As of the report date, the non-public offering of shares has not yet been implemented[17] Operational Highlights - The number of tourists received increased by 28% year-on-year, leading to a revenue increase of 19% for the first nine months of 2021[3] - The company recognized investment income of ¥1,894.33 million from associates, a substantial increase of 1357.29% year-on-year[3] - The company received government subsidies and tax reductions totaling ¥2,231,348.09 during the reporting period[5] - The company incurred a loss of ¥9,766.49 million in undistributed profits due to the impact of the COVID-19 pandemic[8] - In the first nine months of 2021, the company received 28% more visitors compared to the same period in 2020, leading to an increase in operating revenue[9] Accounting and Reporting - The company adopted new leasing accounting standards effective January 1, 2021, impacting the recognition of right-of-use assets and lease liabilities[34] - The third quarter report for 2021 was not audited, indicating that the figures may be subject to change upon final review[35] - The company reported a total asset value of 2,666,294,373.18, reflecting the adjustments made under the new accounting standards[33] - The company reported a provision for bad debts of CNY 2.72 million as of September 30, 2021, following a cautious assessment of the debts related to the bankrupt subsidiary[20]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 137,686,901.60, representing a 44.15% increase compared to CNY 95,517,698.13 in the same period last year[20]. - The net profit attributable to shareholders was a loss of CNY 63,615,015.74, which is a 42.98% reduction in loss compared to a loss of CNY 111,558,906.46 in the previous year[20]. - The net cash flow from operating activities was a negative CNY 34,097,751.77, showing a 50.93% improvement from a negative CNY 69,486,943.69 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 2,625,938,402.48, a decrease of 1.51% from CNY 2,666,294,373.18 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 4.83% to CNY 1,252,853,861.44 from CNY 1,316,468,877.18 at the end of the previous year[20]. - The basic and diluted earnings per share were both CNY -0.177, reflecting a 42.90% improvement from CNY -0.310 in the same period last year[20]. - The weighted average return on net assets improved to -4.95%, up by 2.31% from -7.26% in the previous year[20]. - The company reported a total of CNY 4,129,999.74 in government subsidies recognized in the current period[24]. - The company received government subsidies and tax reductions, which decreased by CNY 5.71 million year-on-year[37]. - The company achieved operating revenue of CNY 137.69 million, a year-on-year increase of 44.15%[40]. - The total number of visitors received by the company reached 2.279 million, representing a year-on-year growth of 93.36%[37]. - The company's investment income increased by CNY 16.41 million compared to the previous year[37]. - The revenue from the tourism service sector was CNY 135.49 million, accounting for 98.41% of total revenue, with a year-on-year growth of 183.02%[42]. - The scenic tourism revenue was CNY 71.22 million, which is 51.73% of total revenue, showing a year-on-year increase of 220.50%[42]. - The net loss attributable to shareholders was CNY 63.62 million, a reduction in loss of CNY 47.94 million compared to the previous year[36]. - The company’s cash and cash equivalents increased by 73.24% to CNY 14.71 million[40]. - The company’s financial expenses decreased by 2.25% to CNY 25.76 million[40]. - The company reported a significant increase in short-term borrowings, which rose to ¥348,794,494.07, accounting for 13.28% of total liabilities, up from 8.53% last year, an increase of 4.75%[48]. - The company reported a total revenue of 1.6 billion yuan for the first half of 2021, reflecting a significant increase compared to the previous year[1]. - The company reported a total revenue of 1.4 billion yuan for the first half of 2021, reflecting a year-on-year increase of 16%[190]. Market Position and Strategy - The company operates 33 upgraded star-rated cruise ships on the Li River, with a total capacity of 3,274 seats, accounting for approximately 28.38% of the total star-rated cruise ship capacity in Guilin[35]. - The company holds a 40-year exclusive operating right for the "Two Rivers and Four Lakes" scenic area from 2010 to 2050[35]. - The company has a 66-year operating right for the Yinzi Rock scenic area, valid from 2002 to 2068[35]. - The company has a 40-year operating right for the Guilin Longsheng Hot Spring scenic area, valid from 2001 to 2041[35]. - The company has a market share of approximately 12.88% in the taxi business in Guilin, with a fleet of 290 taxis[27]. - The company owns 149 medium and large tourist buses, representing about 5.46% of the total tourist bus capacity in Guilin[27]. - The company collaborates with Guilin Tourism Development Company to develop the Qixing and Elephant Trunk scenic areas, with a partnership lasting until 2042[35]. - The company is positioned as a leading player in Guilin's tourism industry, benefiting from resource monopolization and integrated marketing advantages[34]. - The company anticipates a shift in tourism demand towards personalized and experiential products, driven by the rising middle-income class[32]. - The company plans to strengthen marketing efforts and enhance product recognition to cope with industry competition[72]. - The company is exploring potential acquisitions to enhance its service offerings and market reach[98]. - The company plans to expand its market presence by opening 10 new locations in key tourist areas by the end of the year[98]. - The company is focused on enhancing its management system and increasing product innovation and market marketing to strengthen its competitive position[77]. Social Responsibility and Sustainability - The company has not experienced any environmental violations or penalties during the reporting period, emphasizing its commitment to environmental protection and sustainable development[86]. - The company actively integrates social responsibility into its development strategy, ensuring the protection of stakeholders' rights and interests[88]. - The company is committed to energy conservation and pollution reduction, implementing measures to achieve these goals[88]. - The company has established a poverty alleviation partnership with Sanhe Village, focusing on monitoring and supporting households at risk of returning to poverty[89]. - Two household surveys were conducted to verify the status of poverty alleviation households, identifying those with an annual net income below CNY 6,000 for targeted assistance[90]. - All 41 poverty alleviation households in Sanhe Village have purchased new rural cooperative medical insurance, achieving a 100% medical insurance coverage rate[90]. - The company has donated CNY 1,000 to each of the 13 targeted poverty alleviation households to support their development[91]. - The company has secured funding for three agricultural projects from the Guilin City Agricultural and Rural Bureau to enhance infrastructure in Sanhe Village[91]. - The company has initiated research and development for new technologies to stay competitive in the industry[192]. - The management emphasized the importance of maintaining a strong capital structure to support ongoing investments and growth initiatives[188]. - The company is committed to enhancing shareholder value through strategic financial management and operational improvements[188]. Future Outlook - The domestic tourism market is gradually recovering, with increased travel distances and durations compared to last year[33]. - Future outlook remains positive, with management expressing confidence in sustained growth driven by increased domestic tourism[98]. - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues between $1.3 billion and $1.4 billion[3]. - The company plans to expand its market presence by entering three new regional markets by the end of 2022, aiming to increase its market share by 10%[99]. - Future guidance indicates a projected revenue growth of 30% for the next fiscal year, driven by new product launches and market expansion strategies[100]. - The company plans to enhance customer engagement through improved digital platforms, targeting a 15% increase in user interaction[1]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[186]. - The company is committed to sustainable practices and corporate social responsibility initiatives[192].

Financial Performance - The company's operating revenue for Q1 2021 was ¥40,291,008.95, representing a 46.55% increase compared to ¥27,492,234.59 in the same period last year[8] - The net profit attributable to shareholders was -¥54,700,672.13, a reduction in loss of 18.48% from -¥67,102,231.49 year-on-year[8] - The basic earnings per share were -¥0.152, an improvement of 18.28% from -¥0.186 in the same period last year[8] - The net loss for Q1 2021 was ¥20,800,377.78, slightly improved from a net loss of ¥21,781,982.95 in Q1 2020[54] - The company reported a net profit attributable to shareholders of CNY -54,700,672.13 in Q1 2021, a reduction in loss of 18.48% compared to CNY -67,102,231.49 in Q1 2020[20] - The company reported a net loss of CNY -161,691,174.43, worsening from a loss of CNY -106,990,502.30 in the previous period[46] Cash Flow - The net cash flow from operating activities was -¥43,324,740.80, showing a slight increase of 1.38% compared to -¥42,734,500.96 in the previous year[8] - Cash inflow from operating activities totaled ¥64,114,002.93, an increase of 23.4% from ¥51,976,355.48 in Q1 2020[56] - The net cash flow from financing activities increased to CNY 57,905,905.60 in Q1 2021, up 24.01% from CNY 46,695,733.25 in Q1 2020, attributed to increased bank loans[22] - The net cash flow from financing activities increased to 59,330,325.05 CNY in Q1 2021 compared to 47,763,132.13 CNY in Q1 2020, driven by an increase in cash received from borrowings to 164,000,000.00 CNY from 110,000,000.00 CNY[58] - The company's cash flow management strategies are under review to enhance liquidity amid ongoing market challenges[52] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,647,266,389.17, a decrease of 0.71% from ¥2,666,294,373.18 at the end of the previous year[8] - Total liabilities increased to CNY 1,352,030,678.64 from CNY 1,312,326,803.59, representing a rise of 3.02%[46] - The total equity attributable to shareholders decreased to CNY 1,261,768,205.05 from CNY 1,316,468,877.18, a decline of 4.16%[46] - The company's total liabilities increased to CNY 1,364,197,271.12 from CNY 1,313,169,506.73, reflecting a growth of 3.9%[50] - The total current liabilities were CNY 425.60 million, with accounts payable at CNY 35.12 million[62] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 37,677[12] - The top shareholder, Guilin Tourism Development Company, held 18.36% of the shares, totaling 66,120,473 shares[12] - Guilin Tourism Co., Ltd. reported that Guilin Aviation Tourism Group holds 57.616 million shares, accounting for 16% of the total share capital, making it the second-largest shareholder[31] Government Support and Subsidies - The company received government subsidies totaling ¥1,957,119.81 during the quarter, including tax reductions and various grants[9] Legal and Regulatory Matters - The company is currently involved in a lawsuit initiated by Shu Zheng, which was dismissed by the Xiangshan District Court, and an appeal has been filed[30] - The company has not engaged in any securities or derivative investments during the reporting period[35][36] - There are no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[38][39] Future Outlook and Strategic Initiatives - The company plans to raise up to CNY 478.57 million through a non-public offering of A-shares to repay bank loans[24] - The "境SHOW•生动莲花" cultural tourism performance project is expected to commence construction in April 2021, with a total investment of CNY 110 million[26] - Future outlook includes potential market expansion and new product development initiatives to drive revenue growth[52] Cost Management - Sales expenses increased to CNY 4,259,830.79 in Q1 2021, up 40.59% from CNY 3,030,069.99 in Q1 2020, due to increased promotional efforts[20] - The company is focusing on cost control measures, with management expenses reduced to CNY 25,952,988.07 from CNY 30,360,408.44, a decrease of 14.9%[52] - Cash paid to employees in Q1 2021 was 21,172,739.59 CNY, a decrease from 30,336,554.00 CNY in Q1 2020, indicating cost-cutting measures[58] Accounting Changes - The company has adopted new leasing accounting standards effective January 1, 2021, which required adjustments to the balance sheet without retrospective application[61] - The implementation of the new leasing accounting standards resulted in the recognition of "right-of-use assets" and "lease liabilities" starting January 1, 2021[63] - The first quarter report for 2021 was not audited, which may affect the reliability of the financial data presented[65]