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]

Financial Performance - The company reported a significant decline in revenue due to the impact of the pandemic, with total revenue dropping by 30% year-on-year [12]. - The company's operating revenue for 2020 was ¥255,027,525.93, a decrease of 57.93% compared to ¥606,147,910.89 in 2019 [18]. - The net profit attributable to shareholders for 2020 was -¥266,454,906.80, representing a decline of 584.30% from ¥55,018,583.76 in 2019 [18]. - The net profit after deducting non-recurring gains and losses was -¥369,339,720.97 in 2020, down 861.47% from ¥48,503,828.65 in 2019 [18]. - The total operating costs for the year were CNY 485.74 million, a decrease of 21.87% year-on-year [38]. - The company reported a net profit of -296.38 million yuan for 2020, a significant decline compared to the previous year, primarily due to a 56% decrease in visitor numbers and a 58% drop in revenue caused by the COVID-19 pandemic [85]. - The company reported a total revenue of CNY 255.03 million for the year 2020, a decrease of 57.93% year-on-year [58]. - The company experienced a net loss of approximately 150 million yuan in 2020, a stark contrast to the profit of 200 million yuan in 2019 [141]. Future Outlook - Future outlook indicates a cautious recovery, with expectations of a 15% increase in revenue for the next fiscal year [12]. - The company plans to increase visitor numbers and operating revenue in 2021 compared to 2020, with a goal of turning net profit positive [118]. - The company is focused on ensuring the completion of refinancing and the successful implementation of key projects [119]. - Future guidance suggests a cautious optimism, with a projected revenue increase of 30% in 2021 if travel restrictions ease [143]. Strategic Initiatives - The company is focusing on expanding its market presence through strategic partnerships and enhancing its service offerings [12]. - The company is exploring potential mergers and acquisitions to strengthen its market position [12]. - The company plans to issue up to 108,030,000 shares at a price of 4.43 RMB per share, aiming to raise a total of 478,572,900 RMB for repaying bank loans [43]. - The company is committed to exploring new product development and market expansion strategies to enhance competitiveness [124]. Operational Efficiency - Investment in technology upgrades is planned to enhance operational efficiency and customer experience [12]. - The company has implemented a digital transformation strategy, including the completion of a video monitoring system and a paperless meeting system [42]. - The management emphasized the importance of cost control measures, which have already reduced operational expenses by 25% [141]. - The company aims to improve operational efficiency through the adoption of new technologies in its service delivery processes [3]. Market Position - The company holds a 28.59% market share in star-rated cruise ships on the Li River, with 33 newly renovated vessels [110]. - The company has identified key risk factors in its operations, including market volatility and regulatory changes [12]. - The company aims to leverage social media marketing to attract a younger demographic of tourists [12]. Government Support - The company reported a total of 2,547 million RMB in government subsidies received during the pandemic to control non-operational expenses [42]. - The company received government subsidies totaling CNY 25.47 million during the reporting period, classified as non-recurring gains [59]. Community Engagement - The company has integrated social responsibility into its development strategy, focusing on sustainable development and stakeholder interests [172]. - The company aims to achieve poverty alleviation in Sanhe Village by ensuring basic needs and education for the impoverished population by 2020 [174]. Compliance and Governance - The company is committed to strict governance and strengthening party leadership within the organization [121]. - The company has revised its corporate governance documents, including the board committee rules and independent director system, to enhance compliance and operational efficiency [25]. - The company is subject to pricing decisions for its main services, such as Li River cruise tickets and scenic spot tickets, which are regulated by the local government [125].

Financial Performance - Operating revenue for the current period was ¥75,451,794.28, a decrease of 56.88% year-on-year[7] - Net profit attributable to shareholders was -¥16,633,326.78, a decrease of 136.92% year-on-year[7] - Basic earnings per share was -¥0.046, a decrease of 136.80% year-on-year[7] - The company reported a net profit attributable to shareholders of CNY -12,819.22 million for the first nine months, a decrease of CNY 18,316.44 million or 333.19% year-on-year[15] - The net profit for Q3 2020 was a loss of CNY 22,229,726.17, compared to a profit of CNY 39,195,947.93 in Q3 2019, indicating a significant decline in profitability[49] - The net profit for the same period was a loss of CNY 46,695,812.39, compared to a profit of CNY 94,349,986.37 in the previous year, indicating a significant decline in profitability[55] Assets and Liabilities - Total assets decreased by 4.05% to ¥2,754,650,818.27 compared to the end of the previous year[7] - The company’s total assets decreased by CNY 3,119.83 million or 52.58% in investment properties, attributed to asset disposals[14] - The company’s total liabilities were CNY 1,315,344,957.72, slightly up from CNY 1,273,093,622.78, indicating a rise of approximately 3.3%[43] - Long-term borrowings increased significantly to CNY 883,880,000.00 from CNY 751,420,000.00, marking an increase of around 17.6%[43] - The company’s total liabilities rose to CNY 1,317,062,626.36 from CNY 1,263,825,567.50, reflecting an increase of 4.2%[47] Cash Flow - Net cash flow from operating activities was -¥7,930,174.70, a decrease of 107.03% year-on-year[7] - The net cash flow from operating activities was CNY -7,741.71 million, a decrease of CNY 18,105.69 million or 174.70% year-on-year, reflecting the significant drop in visitor numbers and revenue[18] - Cash flow from operating activities showed a net outflow of CNY 77,417,118.39, compared to a net inflow of CNY 103,639,750.92 in the previous year, reflecting operational challenges[57] - Net cash flow from operating activities was -CNY 95,971,146.47, worsening from -CNY 12,318,373.88 in the same period last year[59] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,087[11] - The largest shareholder, Guilin Tourism Development Company, holds 18.36% of the shares[11] Government and Legal Matters - Non-operating income included government subsidies totaling ¥19,616,311.69[8] - The company has approved the bankruptcy liquidation application for 桂林丹霞温泉旅游有限公司, with the court accepting the application on October 28, 2020[25] - The company is facing a lawsuit from a shareholder regarding the 2019 annual general meeting resolutions, with the court hearing held on September 27, 2020[23] Investment and Projects - The company plans to issue up to 108,030,000 shares at a price of CNY 4.43 per share, aiming to raise no more than CNY 478,572,900 for repaying bank loans[26] - The company has adjusted the total investment for the "境SHOW·生动莲花" project to CNY 11,000,000, with construction delayed due to the COVID-19 pandemic[27][28] Operational Changes - The company’s employee compensation payable decreased by CNY 2,285.08 million or 38.07%, influenced by salary adjustments due to the pandemic[14] - The company incurred sales expenses of CNY 1,779,691.92, down from CNY 3,347,275.26, reflecting cost-cutting measures[55] Accounting and Reporting - The company implemented the new revenue accounting standards starting January 1, 2020, without retrospective adjustment of prior comparable figures[64] - The third quarter report for 2020 was not audited[68] - The chairman of the company, Li Feiying, signed the report on October 28, 2020[69]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥95,517,698.13, a decrease of 68.21% compared to ¥300,468,451.19 in the same period last year[16]. - The net profit attributable to shareholders was a loss of ¥111,558,906.46, representing a decline of 1,225.01% from a profit of ¥9,916,245.78 in the previous year[16]. - The net cash flow from operating activities was -¥69,486,943.69, which is a 658.95% increase in cash outflow compared to -¥9,155,645.84 in the same period last year[16]. - Basic and diluted earnings per share were both -¥0.310, a decrease of 1,207.14% from ¥0.028 in the previous year[16]. - The total assets at the end of the reporting period were ¥2,761,778,990.64, down 3.81% from ¥2,871,037,043.45 at the end of the previous year[16]. - The net assets attributable to shareholders decreased by 7.46% to ¥1,473,501,077.52 from ¥1,592,261,983.98 at the end of the previous year[16]. - The weighted average return on net assets was -7.26%, a decrease of 7.89% compared to 0.63% in the previous year[16]. - The company reported a significant decline in performance, with total revenue of 95.52 million CNY, a decrease of 68.21% year-on-year, and a net loss attributable to shareholders of 111.56 million CNY, down 12.15 million CNY year-on-year[31]. - The total number of tourists received was 1.18 million, representing a 71.62% decrease compared to the previous year[31]. Operational Changes - The company has resumed operations for most of its businesses, which were suspended due to the COVID-19 pandemic, starting from April and May 2020[24]. - The company has implemented cost control measures and a gradual return to normal operations following the pandemic[32]. - All previously suspended operations due to COVID-19 have resumed as of April and May 2020[36]. - The company is actively cleaning up real estate assets to facilitate future capital operations, with a transaction amount of 48.54 million yuan for asset transfer[37]. - The company plans to terminate its non-public offering of A shares, which was initially set to raise up to 400 million yuan[43]. Marketing and Strategic Initiatives - The marketing strategy was restructured, focusing on online "cloud tourism" and increasing brand exposure, resulting in over 15 million viewers for a live broadcast event[34]. - The company launched promotional activities in nearby provinces, achieving significant sales through bundled ticket offerings[34]. - The company is exploring new avenues for growth and development in the tourism industry to enhance its overall performance[10]. - The company plans to enhance its marketing efforts and develop systematic products to improve competitiveness in the tourism market[83]. Financial Management and Investments - The company has provided guarantees for bank loans amounting to CNY 12,000,000, with a loan interest rate of 6.65%[63]. - The company reported a total investment amount of 8,272.15 million, with a year-on-year growth of 1.9%[68]. - The company is involved in significant litigation matters, with ongoing cases affecting its financial performance[100]. - The company is currently facing a lawsuit that may impact its financial results, with the court proceedings still pending[100]. - The company has received a notice from the local court regarding a civil lawsuit, indicating potential legal challenges ahead[100]. Future Outlook - Future guidance indicates a projected revenue growth of 7% for the next fiscal year, driven by market expansion strategies[71]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12%, aiming for a total revenue between $1.32 billion and $1.344 billion[96]. - The company plans to expand its market presence by introducing new products and technologies in the upcoming quarters[185]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[185]. Social Responsibility and Community Engagement - The company has invested CNY 3.49 million in poverty alleviation efforts during the reporting period[130]. - The collective income of Sanhe Village is targeted to reach CNY 50,000 to meet poverty alleviation standards[127]. - The company has successfully helped 18 households avoid falling back into poverty, with no cases of returning to poverty reported[130]. - A total of CNY 1.2 million in electricity revenue was generated from a 40 kW photovoltaic power project in Sanhe Village[129]. Shareholder Information - The company has a total of 360,100,000 shares, with 99.99% being unrestricted shares[150]. - The largest shareholder, Guilin Tourism Development Co., Ltd., holds 18.36% of the shares, totaling 66,120,473 shares[153]. - The second-largest shareholder, Guilin Airlines Tourism Group Co., Ltd., holds 16.00% of the shares, totaling 57,616,000 shares, which are pledged[153]. - The company has not disclosed any significant changes in its shareholder structure or share repurchase activities during the reporting period[151].

Financial Performance - The company's operating revenue for Q1 2020 was ¥27,492,234.59, a decrease of 76.34% compared to ¥116,205,663.91 in the same period last year[7] - The net profit attributable to shareholders was -¥67,102,231.49, representing a 3,346.53% increase in loss compared to -¥1,946,948.59 in the previous year[7] - The basic and diluted earnings per share were both -¥0.186, reflecting a 3,620.00% increase in loss compared to -¥0.005 in the previous year[7] - The company reported a net loss attributable to shareholders of CNY 67,102,231.49 for Q1 2020, compared to a profit of CNY 1,946,948.59 in Q1 2019[17] - Net profit for Q1 2020 was a loss of CNY 74,741,307.86, compared to a loss of CNY 6,438,038.76 in Q1 2019, representing an increase in loss of 1,161.66%[46] - The company’s total comprehensive loss for Q1 2020 was CNY 74,741,307.86, compared to a loss of CNY 6,438,038.76 in Q1 2019[46] Cash Flow and Liquidity - The net cash flow from operating activities was -¥42,734,500.96, a decrease of 10.90% from -¥47,960,444.70 in the same period last year[7] - The cash inflow from operating activities for the first quarter of 2020 was CNY 51,976,355.48, a decrease of 59.0% compared to CNY 127,005,191.44 in the same period last year[51] - The total cash and cash equivalents at the end of the period were CNY 37,979,140.67, down from CNY 118,874,163.70 in the same period last year[51] - The company reported a cash outflow of CNY 66,630,216.39 for employee payments, which is a decrease of 16.7% from CNY 80,041,865.86 in the previous year[51] - The cash inflow from sales of goods and services was CNY 39,923,826.23, a decline of 62.4% from CNY 106,069,275.64 year-over-year[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,810,216,243.52, a decrease of 2.12% from ¥2,871,037,043.45 at the end of the previous year[7] - The total current assets as of March 31, 2020, amount to 216.06 million yuan, a decrease from 247.85 million yuan on December 31, 2019, representing a decline of approximately 12.8%[38] - The total non-current assets as of March 31, 2020, amount to 2.59 billion yuan, down from 2.62 billion yuan on December 31, 2019, indicating a decrease of about 1.0%[38] - As of March 31, 2020, total liabilities amounted to CNY 1,287,014,130.71, a slight increase from CNY 1,273,093,622.78 as of December 31, 2019, reflecting a growth of approximately 1.5%[39] - The company's total liabilities were ¥1,273,093,622.78, with current liabilities at ¥473,040,912.12 and non-current liabilities at ¥800,052,710.66[55] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,567[10] - The largest shareholder, Guilin Tourism Development Company, held 18.09% of the shares, totaling 65,136,273 shares[10] - The total equity attributable to shareholders decreased to CNY 1,525,159,752.49 from CNY 1,592,261,983.98, reflecting a decrease of about 4.2%[39] Government Support - The company received government subsidies amounting to ¥7,865,342.24 during the reporting period[8] - The company received government subsidies totaling CNY 6,000,000 during the reporting period, which helped mitigate losses[17] Operational Changes - The company has resumed operations for several business segments, including scenic areas and ferry services, while some areas remain closed due to the pandemic[20] - The company’s management indicated a focus on cost control and exploring new revenue streams in response to the challenging market conditions[46] Accounting Adjustments - The company reported a significant adjustment in prepayments, with a decrease of ¥4,891,723.88 in the current liabilities due to the new revenue accounting standards[55] - As of January 1, 2020, the company adopted new revenue accounting standards, which required adjustments to the initial contract liabilities[56]

Financial Performance - The company achieved operating revenue of CNY 606.15 million, a year-on-year increase of 5.77%[31]. - The net profit attributable to shareholders decreased by 31.57% to CNY 55.02 million[59]. - The company's operating revenue for 2019 was CNY 606,147,910.89, an increase of 5.77% compared to CNY 573,070,306.91 in 2018[16]. - The net profit after deducting non-recurring gains and losses was CNY 48,503,828.65, down 35.28% from CNY 74,940,968.68 in 2018[16]. - The total operating costs rose to CNY 621.70 million, an increase of 15.78% year-on-year[31]. - The net cash flow from operating activities increased by 15.12% to CNY 188,676,202.71 in 2019 from CNY 163,894,731.81 in 2018[16]. - The company's total assets at the end of 2019 were CNY 2,871,037,043.45, a decrease of 1.77% from CNY 2,922,710,811.49 at the end of 2018[16]. - The net assets attributable to shareholders increased by 1.37% to CNY 1,592,261,983.98 at the end of 2019 from CNY 1,570,756,430.54 at the end of 2018[16]. - The company reported a net profit impact of -299,700 CNY from the transfer of 100% equity in Guilin City Ring Water System Real Estate Development Co., Ltd. to clean up real estate assets[107]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.2 RMB per 10 shares to all shareholders, based on a total of 360,100,000 shares[4]. - The company achieved a net profit attributable to shareholders of CNY 55,018,583.76 for the fiscal year 2019, with a proposed cash dividend of CNY 7,202,000.00, representing 13.09% of the net profit[144]. - The company has a total of CNY 166,666,404.50 in undistributed profits at the end of the reporting period, with CNY 148,727,380.20 attributable to the parent company[148]. - The company’s cash dividend payout ratio for 2018 was 35.83%, with a total cash dividend of CNY 28,808,000.00[147]. - The company’s cash dividend payout ratio for 2017 was 47.61%, with a total cash dividend of CNY 25,207,000.00[146]. Business Operations and Expansion - The company has expanded its business scope to include inbound tourism, domestic tourism, and outbound tourism services[14]. - The company has increased its operational capabilities by adding travel agency services and cultural event planning to its business scope[14]. - The company is actively restructuring and revitalizing underperforming assets, including the integration of several subsidiaries[37]. - The company has established exclusive online ticketing agency agreements with major OTAs, enhancing its marketing reach[33]. - The company is focusing on the development of new tourism projects, including the "Vivid Lotus" project, to attract more visitors post-pandemic[133]. - The company plans to strengthen market promotions and control costs to mitigate the negative impact of the COVID-19 pandemic on its operations in 2020[133]. - The company aims to enhance service quality and upgrade its scenic spots and hotels to improve customer experience[130]. - The company is exploring refinancing options to support its growth initiatives and asset management strategies[133]. Visitor Statistics and Market Trends - The company received a total of 8.99 million visitors, a slight increase of 0.38% year-on-year[59]. - The scenic area received 4.34 million visitors, a decrease of 8.92% year-on-year[59]. - The subsidiary Yinzi Rock received 2.64 million visitors, generating revenue of CNY 103.48 million and a net profit of CNY 64.71 million[32]. - The subsidiary Two Rivers and Four Lakes received 1.24 million visitors, with revenue of CNY 117.31 million and a net profit of CNY 1.78 million[32]. - The company’s cruise division served 666,300 visitors, a year-on-year increase of 9.83%, with revenue of CNY 116.39 million, up 8.54%[32]. Financial Management and Compliance - The company has confirmed the accuracy and completeness of its financial report, with key personnel taking responsibility for its content[3]. - The company has established a comprehensive disclosure system, utilizing multiple media for reporting financial information[13]. - The company has engaged Da Xin Accounting Firm for auditing services during the reporting period[15]. - The company is committed to maintaining transparency in its financial disclosures and ensuring accurate reporting[193]. - The company has not experienced any major litigation or arbitration matters during the reporting period[165]. Strategic Initiatives and Future Outlook - The company plans to issue up to 72.02 million shares to raise no more than CNY 400 million for working capital and loan repayment[57]. - The company aims to improve operational efficiency, targeting a reduction in costs by 4%[9]. - The company is positioned to benefit from the booming domestic tourism market, with increasing consumer spending and a shift towards personalized travel experiences[128]. - The company is committed to improving its internal management and operational efficiency through digital transformation and refined management practices[138]. - The company is exploring potential mergers and acquisitions to strengthen its market presence[193]. Related Party Transactions - The actual amount of related party transactions for purchasing scenic tickets from Guilin Tourism Development Co., Ltd. was 12.8554 million yuan[170]. - The rental contract signed with Guilin Tourism Development Co., Ltd. for the Tianzhitai office building has a total rent and property management fee of 8.3211 million yuan over a 10-year period[171]. - The company has engaged in various significant related transactions, including ticket revenue sharing and lease agreements with its controlling shareholder[181]. - The company signed a new management contract with individual Meng Dongyu for Hong Kong Guijiang Tourism Co., Ltd. for a one-year period from January 1, 2019, to December 31, 2019, with a management fee of 10,000 RMB[186]. Asset Management and Investments - The company has a fleet of 41 star-rated cruise ships, accounting for approximately 33.09% of the total star-rated cruise capacity in Guilin[30]. - The company acquired two cruise ships, "Shengjing" and "Dijing," for a total purchase price of RMB 17.75 million, enhancing its cruise capacity on the Li River[50]. - The company has invested 30 million CNY in the Elephant Trunk Hill project, with a cooperation period of 40 years[178]. - The company is involved in leasing various properties, including hotels and office spaces, to enhance its revenue streams[188]. - The company is committed to sustainable practices in its operations, aligning with market trends towards eco-friendly tourism[188].