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].

Financial Performance - Net profit attributable to shareholders was CNY 45,055,984.43, down 9.42% year-on-year[7] - Operating revenue for the reporting period was CNY 174,998,721.53, a decrease of 3.89% compared to the same period last year[7] - Basic earnings per share were CNY 0.125, reflecting a decline of 9.42% year-on-year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 43,584,577.76, down 7.90% year-on-year[7] - The company's net profit attributable to shareholders decreased by 30.45% to RMB 5,497.22 million for the first nine months of 2019, down from RMB 7,904.30 million in the same period of 2018[17] - Net profit for Q3 2019 was CNY 39,195,947.93, down 14.6% compared to CNY 45,927,782.46 in Q3 2018[44] - The net profit for the first nine months was CNY 32,961,544.38, a decrease of 52.0% from CNY 68,676,427.70 in the previous year[48] - The profit attributable to the parent company's shareholders was CNY 54,972,230.21, down 30.4% from CNY 79,042,978.57 year-on-year[48] Cash Flow - The net cash flow from operating activities was CNY 103,639,750.92, down 11.40% year-to-date[7] - The cash inflow from operating activities for the first nine months of 2019 was CNY 516,568,747.11, an increase of 14.4% compared to CNY 451,752,116.56 in the same period last year[53] - The net cash flow from operating activities decreased to CNY 103,639,750.92 from CNY 116,977,885.13, reflecting a decline of 11.5% year-over-year[53] - The cash inflow from financing activities was CNY 339,886,325.00, down 28.4% from CNY 474,870,000.00 in the same period last year[53] - The net cash flow from financing activities turned negative at CNY -46,330,621.49, compared to a positive CNY 136,555,270.94 in the previous year[53] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,920,166,057.51, a decrease of 0.09% compared to the end of the previous year[7] - The company's total assets amounted to 2,922,710,811.49, showing a minor decrease of 0.17%[59] - Total liabilities were CNY 1,312,596,990.13, showing a marginal decrease from CNY 1,313,090,219.80 year-over-year[37] - Current liabilities totaled CNY 480,731,925.73, a decrease of approximately 13.1% from CNY 553,387,446.99[37] - Long-term borrowings increased to CNY 782,100,000.00 from CNY 711,200,000.00, reflecting a growth of about 10%[37] Shareholder Information - The company reported a total of 31,076 common shareholders at the end of the reporting period[11] - The largest shareholder, Guilin Airlines Tourism Group Co., Ltd., held 16.00% of the shares[11] - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[12] Investment and Assets Management - The company's prepayments increased by 263.59% to RMB 758.01 million as of September 30, 2019, compared to RMB 208.48 million at the end of 2018[15] - Investment properties surged by 379.44% to RMB 22,270.67 million, attributed to the reclassification of certain assets to investment property accounting[15] - The company plans to publicly transfer part of its assets, including residential inventory and investment properties totaling 9,188.51 square meters, with residential inventory comprising 6,795.87 square meters[20] - The company acquired two cruise ships, "Shengjing" and "Dijing," for a total consideration of 17.75 million yuan, enhancing its cruise capacity on the Li River[22] Operational Costs - Total operating costs increased to CNY 152,857,088.41, up 6.5% from CNY 143,352,311.00 in the previous year[44] - The total operating costs rose to CNY 477,584,694.04, up 22.6% from CNY 389,195,668.98 year-on-year[48] - Sales expenses increased by 26.63% to RMB 1,368.95 million, as the company intensified its advertising efforts[17] Compliance and Standards - The company has implemented new financial instrument standards effective from January 1, 2019, impacting accounting policies[60] - The company is not required to retrospectively adjust prior periods under the new financial instrument standards, simplifying the transition[60] - The third quarter report was not audited, indicating a potential area for further scrutiny[66]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 300,468,451.19, representing a 16.83% increase compared to CNY 257,174,084.70 in the same period last year[15]. - The net profit attributable to shareholders decreased by 66.16% to CNY 9,916,245.78 from CNY 29,300,133.38 year-on-year[15]. - Basic earnings per share dropped by 65.43% to CNY 0.028 from CNY 0.081 in the same period last year[15]. - The company reported a net profit impact of -29.87 thousand yuan from the sale of assets related to the real estate development company[118]. - The company reported a net profit of 397.12 million, a decrease of 29.20% compared to the previous period[196]. - The net profit attributable to shareholders was 1.4 billion, reflecting a decline of 25% year-over-year[197]. Cash Flow and Liquidity - The net cash flow from operating activities turned negative at CNY -9,155,645.84, a decline of 124.96% compared to CNY 36,678,063.18 in the previous year[15]. - The company's cash and cash equivalents decreased by 88.67% to CNY 8.38 million[57]. - The company reported a net cash outflow from operating activities of CNY -9,155,645.84, compared to a net inflow of CNY 36,678,063.18 in the first half of 2018[189]. - Cash reserves at the end of the quarter stood at 3.6 billion, providing a strong liquidity position for future investments[194]. - The ending cash and cash equivalents balance as of June 30, 2019, was 89,095,069.26 CNY, down from 107,475,566.15 CNY at the end of H1 2018, a decrease of approximately 17.0%[191]. Assets and Liabilities - Total assets increased by 1.47% to CNY 2,965,663,037.43 compared to CNY 2,922,710,811.49 at the end of the previous year[15]. - The total liabilities increased to CNY 1,395,076,858.43 from CNY 1,313,090,219.80, indicating an increase of approximately 6.23%[177]. - Long-term borrowings increased to CNY 812,750,000.00 from CNY 711,200,000.00, marking a rise of about 14.26%[177]. - The total equity attributable to shareholders decreased to CNY 1,548,172,764.66 from CNY 1,570,756,430.54, a decline of approximately 1.44%[177]. Operational Performance - The company achieved operating revenue of CNY 300.47 million, a year-on-year increase of 16.83%[30]. - Operating costs increased by 21.95% to CNY 166.99 million, primarily due to rising labor costs and the disposal of hotel-style villas[50][57]. - The gross profit margin for the tourism service sector was 35.10%, reflecting a decrease of 12.22% year-on-year[59]. - The company reported a total cash increase of 21,915,729.59 CNY in H1 2019, compared to 61,043,073.75 CNY in H1 2018, reflecting a decline of about 64.0%[191]. Strategic Initiatives - The company plans to enhance its marketing efforts through a smart ticketing mini-program and partnerships with travel agencies[32]. - The company is actively promoting the strategic restructuring of underperforming assets, including the transfer of 51% equity in Fengyu Rock Company[33]. - The company is exploring high-quality new products to improve service offerings and increase overall competitiveness in the tourism market[98]. - The company plans to expand its market presence by launching new products in the upcoming quarter[197]. Risk Management - The company has identified potential risk factors in its operations, which investors should be aware of[4]. - The company is facing risks from natural disasters and industry competition, with strategies in place to mitigate these risks and enhance market competitiveness[95][96]. - The company is subject to price regulation by the local government for its main services, which limits its pricing flexibility; it aims to apply for new pricing that aligns with market conditions[98]. Investments and Acquisitions - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[107]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[196]. - The company is investing in new technology development, allocating 200 million yuan for R&D in the upcoming fiscal year[194]. Marketing and Customer Engagement - Customer satisfaction ratings improved to 90%, up from 85% last quarter, reflecting enhanced service quality[107]. - A new marketing strategy is set to launch next quarter, targeting a 25% increase in brand awareness[107]. - The company aims to improve customer engagement through enhanced digital marketing strategies[197]. Social Responsibility and Community Engagement - The company is actively involved in poverty alleviation efforts, specifically in Sanhe Village, aiming to ensure that by 2020, all poverty-stricken households have access to basic needs and education[145]. - The company plans to enhance the village's collective economy by leveraging agricultural cooperatives and seeking project funding support[150]. - The company is committed to improving the living environment and promoting beautiful rural construction to ensure sustainable development[151].

证券代码：000978 证券简称：桂林旅游 公告编号：2019-026 桂林旅游股份有限公司关于参加 投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性 陈述或重大遗漏。 为进一步加强与投资者的互动交流，桂林旅游股份有限公司（以下简称"公司"） 将参加由广西上市公司协会、上证所信息网络有限公司、深圳市全景网络有限公司共 同举办的"2019 年广西地区上市公司投资者网上集体接待日活动"，现将有关事项公 告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互联网平台举行，投 资者可以登陆"全景·路演天下"网站（http：//rs.p5w.net）或关注微信公众号： 全景网路演天下（微信号：Roadshow_ly）参与公司本次投资者集体接待日活动，活 动时间为 2019 年 5 月 28 日（星期二）14:00 至 17:00。 届时公司副总裁訚林、董事会秘书黄锡军、证券事务代表陈薇、计划财务部副总 经理黄俊杰将通过网络在线问答互动的形式，与投资者就公司治理、发展经营情况、 融资情况和可持续发展等投资者关注的问题进行交流。期间，公司高管将全程在线 ...

桂林旅游股份有限公司 2019 年第一季度报告全文 桂林旅游股份有限公司 2019 年 04 月 1 桂林旅游股份有限公司 2019 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。 公司负责人李飞影、主管会计工作负责人肖笛波及会计机构负责人(会计主 管人员)陈丽华声明：保证季度报告中财务报表的真实、准确、完整。 2 桂林旅游股份有限公司 2019 年第一季度报告全文 2019 年第一季度报告 2019-019 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 116,205,663.91 | 112,357,301.80 | 3.43% | | 归属于上市公司股东的净利润（元） | -1,946,948.59 | -2,218, ...

Financial Performance - The company's operating revenue for 2018 was CNY 573,070,306.91, representing a 3.02% increase compared to CNY 556,290,477.03 in 2017[6]. - The net profit attributable to shareholders for 2018 was CNY 80,402,163.02, a significant increase of 51.87% from CNY 52,941,654.62 in 2017[6]. - The net profit after deducting non-recurring gains and losses was CNY 74,940,968.68, up 37.27% from CNY 54,595,703.20 in 2017[6]. - The total assets at the end of 2018 were CNY 2,922,710,811.49, an increase of 11.26% from CNY 2,626,993,408.41 at the end of 2017[6]. - The net assets attributable to shareholders at the end of 2018 were CNY 1,570,756,430.54, reflecting a 3.64% increase from CNY 1,515,561,267.52 at the end of 2017[6]. - The company maintained a weighted average return on equity of 5.17%, up from 3.56% in 2017[6]. - The company achieved operating revenue of RMB 573.07 million, a year-on-year increase of 3.02%[60]. - The operating profit reached RMB 86.57 million, reflecting a significant year-on-year growth of 54.79%[60]. - The net profit attributable to shareholders was RMB 80.40 million, representing a year-on-year increase of 51.87%[60]. Cash Flow and Investments - The net cash flow from operating activities decreased by 8.32% to CNY 163,894,731.81 from CNY 178,772,827.86 in 2017[6]. - The net cash flow from investing activities was CNY -291.07 million, compared to CNY -76.51 million in the same period last year, primarily due to cash contributions to subsidiaries and ongoing project payments[66]. - The net cash flow from financing activities was CNY 159.35 million, a significant increase from CNY -152.29 million in the previous year, mainly due to new bank loans and the distribution of cash dividends totaling CNY 25.21 million[67]. - The company's net cash flow from operating activities for the reporting period was CNY 163.89 million, a year-on-year decrease of 8.32% due to changes in ticket settlement methods and increased cash payments for goods and services[82]. - The company reported a net increase in cash and cash equivalents of CNY 32,167,969.03, contrasting with a net decrease of CNY 50,027,392.21 in the previous year[81]. Business Operations and Strategy - The company has expanded its business scope to include inbound and outbound tourism services, as well as travel agency operations, enhancing its service offerings[14]. - The company operates in various tourism-related sectors, including hotel management, ticketing services, and cultural event planning, diversifying its revenue streams[14]. - The company is committed to maintaining transparency in its financial disclosures, utilizing platforms such as the China Securities Journal and Securities Times for reporting[13]. - The company is actively promoting the restructuring and revitalization of underperforming assets, including the transfer of 51% equity in Fengyu Rock Company[37]. - The company has implemented a new marketing system to enhance resource integration and improve operational efficiency[33]. - The company is focusing on integrating resources across its subsidiaries to improve operational efficiency and service offerings[100]. Shareholder and Investor Relations - The company has a dedicated investor relations team to handle inquiries and maintain communication with shareholders[12]. - The company plans to distribute a cash dividend of 0.80 RMB per 10 shares based on a total of 360,100,000 shares, which represents a total cash distribution of 28,808,000 RMB[4]. - The company’s financial report has been confirmed as true, accurate, and complete by its management, including the chairman and accounting head[3]. - The company has not experienced any changes in its controlling shareholders since its listing, ensuring stability in ownership[14]. Market Position and Competition - The company is positioned as the largest tourism group in the Guilin area, leveraging advantages in tourism resource monopoly and integrated marketing[25]. - The company faces intense competition from similar tourism enterprises and scenic spots in surrounding regions, necessitating a strong competitive strategy[119]. - The company is exploring potential mergers and acquisitions to strengthen its market position[99]. Social Responsibility and Community Engagement - The company has established a poverty alleviation plan in Sanhe Village, aiming to ensure that by 2020, all impoverished residents have access to basic needs and services, achieving complete poverty alleviation[194]. - The company has actively engaged in training and supporting impoverished households to develop local industries, thereby enhancing their self-sufficiency and economic stability[196]. - The company has integrated corporate social responsibility into its development strategy, focusing on sustainable growth while protecting stakeholder interests[18]. Future Outlook and Guidance - The company plans to expand its market presence by launching new products and enhancing service offerings in the next quarter[99]. - Future guidance suggests a revenue target of 1.2 billion yuan for the next quarter, representing a 20% growth[99]. - The company aims to enhance operational efficiency through strategic partnerships and collaborations[99]. - The company plans to increase the number of tourists, operating revenue, and net profit in 2019 compared to 2018[130].

Financial Performance - Net profit attributable to shareholders increased by 23.12% to CNY 49,742,845.19 for the current period[8] - Operating revenue for the current period reached CNY 182,078,856.70, reflecting a growth of 16.01% year-on-year[8] - Basic earnings per share rose by 23.21% to CNY 0.138 for the current period[8] - The company reported a net profit excluding non-recurring gains and losses of CNY 47,323,802.73, up 18.36% year-on-year[8] - Undistributed profits rose by 45.39% to CNY 153.38 million, with net profit for the period at CNY 79.04 million[14] Asset and Liability Changes - Total assets increased by 9.51% to CNY 2,876,768,179.34 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 3.55% to CNY 1,569,397,647.57 compared to the end of the previous year[8] - Total accounts receivable increased by 63.68% to CNY 148.48 million due to higher ticket sales from various scenic spots[14] - Prepayments rose by 100.96% to CNY 4.89 million, attributed to insurance fees and promotional expenses[14] - Long-term equity investments increased by 62.46% to CNY 428.67 million, reflecting cash contributions to subsidiaries[14] - Tax payable increased by 105.75% to CNY 8.72 million due to changes in corporate income tax rates[14] - Long-term borrowings grew by 34.05% to CNY 768.50 million, indicating new bank loans[14] Cash Flow Analysis - Net cash flow from operating activities for the year-to-date period was CNY 116,977,885.13, an increase of 3.79%[8] - The net cash flow from investing activities was CNY -249.91 million, a significant decline of 423.94% compared to CNY -47.70 million in the same period last year, due to capital contributions to subsidiaries[18] - The net cash flow from financing activities was CNY 136.56 million, a turnaround from CNY -71.42 million in the previous year, attributed to new long-term bank loans[18] Shareholder Information - The top 10 shareholders hold a combined 47.44% of the company's shares, with the largest shareholder owning 16.00%[11] - The company did not engage in any repurchase transactions during the reporting period[11] Government Support and Subsidies - The company received a government subsidy of CNY 6 million for the 5A scenic area project[8] - Other income increased to CNY 4.14 million, a rise of 134.76% from CNY 1.76 million, including a government reward of CNY 6 million for the 5A scenic area project[16] Operational Insights - The number of tourists received by the Li River cruise business reached 460,800, and the Silver Cave scenic area received 2,206,700 tourists, representing growth of 7.94% and 16.12% year-on-year, respectively[16] - The company has not disclosed any new product developments or market expansion strategies in the current report[13] - There are no indications of mergers or acquisitions in the recent financial disclosures[13] Compliance and Guarantees - The company has not reported any non-compliance issues regarding external guarantees during the reporting period[31] - The company has committed to cover any shortfall in loan repayments for its subsidiary, Guilin Guizhen Investment Co., Ltd., which is developing the Tianzhitai project[19] - As of the end of the reporting period, the subsidiary had obtained a total of CNY 60 million in loans from Guilin Bank[21] Accounting Adjustments - The company did not have any adjustments or restatements of previous years' accounting data[8] - The company reported an increase in asset impairment losses to CNY 4.10 million, up 208.96% from CNY 1.33 million in the previous year, due to an increase in receivables[16] - The income tax expense for the first nine months of 2018 was CNY 16.76 million, an increase of 82.55% from CNY 9.18 million, as the corporate income tax rate increased from 9% to 15%[16]

Financial Performance - The company's operating revenue for the reporting period was CNY 257,174,084.70, a decrease of 1.69% compared to the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 29,300,133.38, reflecting a slight increase of 0.60% year-on-year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 27,371,972.32, which represents a significant increase of 21.30% compared to the previous year[16]. - The net cash flow from operating activities was CNY 36,678,063.18, down by 13.94% from the same period last year[16]. - The total assets at the end of the reporting period amounted to CNY 2,843,980,436.23, an increase of 8.26% compared to the end of the previous year[16]. - The net assets attributable to shareholders of the listed company were CNY 1,519,654,802.38, showing a slight increase of 0.27% from the previous year[16]. - The basic and diluted earnings per share remained unchanged at CNY 0.081[16]. - The weighted average return on net assets was 1.91%, a decrease of 0.06% compared to the previous year[16]. Visitor Statistics - In the first half of 2018, the company received 4.1688 million visitors, a decrease of 4.54% year-on-year[33]. - The total number of visitors received was 4.17 million, a decline of 4.54% compared to the previous year[54]. - Guilin Lijiang Waterfall Hotel received 147,500 visitors in the first half of 2018, a year-on-year decrease of 8.33%[85]. - Guilin Two Rivers and Four Lakes Tourism received 596,200 visitors in the first half of 2018, a year-on-year decrease of 11.80%[86]. - Hezhou Hot Spring Tourism welcomed 78,900 visitors in the first half of 2018, a year-on-year increase of 2.20%[87]. - Guilin Tourism Automobile Transportation Co., Ltd. received 320,200 passengers in the first half of 2018, a year-on-year decrease of 21.50% due to competition from ride-hailing services[88]. - Guilin Lipu Yinziyan Tourism Co., Ltd. reported 1,279,100 visitors in the first half of 2018, a year-on-year increase of 14.88%[90]. Investment and Projects - The company’s long-term equity investment increased by 40.86%, with a year-end balance of 371.69 million yuan[29]. - The company has increased its investment in the "Lijiang Eternal Love" project from 60 million yuan to 195 million yuan, with the first phase completed and operational[41]. - The company has invested 32 million yuan in Guilin Newao Gas Development Co., increasing its registered capital from 12,000 USD to 1,213,000 USD[43]. - The company has secured a 120 million yuan loan from Guilin Bank for the Tianzhitai project, with collateral provided by various assets[44]. - The company is developing the "Tian Zhi Tai" commercial complex project, expected to be completed in Q4 2018[93]. - The company has signed a project construction agreement with the county government for a photovoltaic power generation project, with a total estimated cost of CNY 300,000[152]. Cost Management - Total operating costs were 248.18 million yuan, a year-on-year decrease of 2.57%[33]. - Sales expenses decreased by 18.90% to 5.60 million yuan due to a restructuring of the marketing team[56]. - Management expenses were 78.92 million yuan, a decrease of 6.23% year-on-year[57]. - Financial expenses increased by 20.39% to 20.19 million yuan, primarily due to changes in loan interest subsidies[58]. Risk Management - The company has detailed potential risk factors in the operational discussion and analysis section of the report[4]. - The company is actively seeking to mitigate risks from tax policy changes that could impact net profit, emphasizing the importance of maintaining tax incentives[108]. - The company faces risks from competition in the tourism industry, necessitating enhanced marketing and product development strategies to maintain market share[104]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The annual general meeting of Guilin Tourism Co., Ltd. had a participation rate of 36.92% on April 27, 2018[112]. - The first extraordinary general meeting in 2018 had a participation rate of 36.35% on May 15, 2018[112]. - The company has no stock incentive plans or employee shareholding plans implemented during the reporting period[123]. Community Engagement - The company emphasizes environmental protection and sustainable development, actively participating in ecological conservation efforts[148]. - The company is engaged in targeted poverty alleviation efforts in Sanhe Village, aiming to ensure that by 2020, all poverty-stricken residents have access to basic needs and services[149]. - A total of CNY 230,500 has been invested in poverty alleviation efforts in Sanhe Village, with CNY 22,000 invested during the reporting period[152].

Financial Performance - The company's operating revenue for Q1 2018 was ¥112,357,301.80, a decrease of 7.08% compared to ¥120,923,181.55 in the same period last year[8] - The net profit attributable to shareholders for Q1 2018 was a loss of ¥2,218,474.16, representing an increase in loss of 44.07% from a loss of ¥1,539,884.36 in the previous year[8] - The basic earnings per share for Q1 2018 was -¥0.006, a 50.00% increase in loss from -¥0.004 in the previous year[8] - The company reported a significant reduction in non-recurring losses, with the net profit excluding non-recurring items at -¥2,942,313.21, a decrease in loss of 59.88% from -¥7,333,343.87 in the previous year[8] - The weighted average return on net assets was -0.15%, a decrease of 0.05% compared to -0.10% in the previous year[8] - The company reported a significant decrease in other income, down by 97.05% to CNY 200,663.33, compared to CNY 6,807,297.22 in the previous year[17] Cash Flow and Assets - The net cash flow from operating activities improved to -¥15,229,738.42, a reduction in loss of 37.85% compared to -¥24,504,823.89 in the same period last year[8] - Total assets at the end of the reporting period were ¥2,647,418,598.37, an increase of 0.78% from ¥2,626,993,408.41 at the end of the previous year[8] - The net assets attributable to shareholders decreased slightly by 0.15% to ¥1,513,342,793.36 from ¥1,515,561,267.52 at the end of the previous year[8] - The company's cash and cash equivalents increased by CNY 11,110,848.58, or 17.40%, compared to the previous period[15] - The company's accounts receivable increased by CNY 15,138,108.44, or 16.69%, due to a decline in collection rates from its tourism operations[15] - Prepaid accounts increased significantly by CNY 6,502,586.60, or 267.22%, due to advance payments for project engineering costs[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,626[11] - The largest shareholder, Guilin Airlines Tourism Group Co., Ltd., holds 16.00% of the shares, amounting to 57,616,000 shares, which are currently pledged[11] Investments and Future Plans - The company increased its long-term borrowings by CNY 127,300,000.00, or 22.20%, reaching CNY 700,600,000.00 as of March 31, 2018[15] - The company plans to increase its investment in the "Lijiang Eternal Love" performance project by CNY 45,000,000.00, with a total investment scale of CNY 80,526,950.00[21] - The company is set to increase its investment in Guilin Newao Gas Development Co., Ltd. by CNY 8,000,000.00, raising its registered capital from USD 12 million to USD 1,213 million[23] - The company approved a cash capital increase of $4.812 million (approximately RMB 32 million) for Guilin Xin'ao Gas Development Co., Ltd. on March 29, 2018[24] Compliance and Governance - The company reported no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[27] - There were no significant changes in expected net profit for the first half of 2018 compared to the same period last year[28] - The company did not engage in any securities investments during the reporting period[29] - There were no derivative investments reported during the period[29] - The company had no violations regarding external guarantees during the reporting period[31] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[32] Investor Relations - The company conducted an on-site investigation on February 5, 2018, with institutional investors[30]

Financial Performance - The company's operating revenue for 2017 was ¥556,290,477.03, representing a 14.41% increase compared to ¥486,241,748.05 in 2016[15]. - Net profit attributable to shareholders reached ¥52,941,654.62, a significant increase of 784.51% from ¥7,387,814.41 in 2016[15]. - The net profit after deducting non-recurring gains and losses was ¥54,595,703.20, marking a turnaround from a loss of ¥19,106,881.98 in the previous year[15]. - Basic and diluted earnings per share increased to ¥0.147, up 764.71% from ¥0.021 in 2016[15]. - The total number of tourists received by the company was 9.07 million, an increase of 15.07% compared to the previous year[57]. - The company reported a net profit attributable to shareholders of CNY 52,941,654.62 for the year 2017, with a proposed cash dividend of CNY 0.7 per 10 shares, totaling CNY 25,207,000.00[141]. - The company reported a net profit of 8.61 million yuan for the period, with a significant increase of 15.3% compared to the previous year[1]. - Guilin Tourism Co., Ltd. reported a significant increase in annual revenue, reaching 1.2 billion RMB, representing a 15% year-over-year growth[152]. Cash Flow and Investments - The net cash flow from operating activities decreased by 37.19% to ¥178,772,827.86 from ¥284,628,942.30 in 2016[15]. - Cash flow from investment activities was -76.52 million yuan, an improvement from -164.81 million yuan in the previous year[60]. - Cash flow from financing activities was -152.29 million yuan, showing a reduction in bank borrowings and repayments compared to the previous year[61]. - The company reported an investment income increase of 6.08 million yuan, with contributions from subsidiaries and ticket revenue sharing[57]. - The company has completed the acquisition of 65% equity in Guizhun Company for CNY 101.4 million, with plans to develop the Tianzhitai commercial complex project[53]. - The company has paid CNY 22.42 million for the waterway operation rights, with ongoing efforts to integrate existing boat enterprises in the Lijiang urban section[48]. Business Expansion and Strategy - The company has expanded its business scope to include inbound tourism, domestic tourism, and outbound tourism services since 2009[13]. - The company launched a new tourism product "Guilin City Tour - Three Mountains and Water Route Ticket," integrating multiple scenic spots[36]. - The company implemented a "Tourism+" strategy in partnership with Guilin Airlines, combining tickets, attractions, and hotels[37]. - The company plans to increase capital by CNY 450 million for the Lijiang Eternal Love project, with proportional contributions from both the company and Songcheng Performing Arts[46]. - The company is actively restructuring underperforming assets, focusing on integrating and revitalizing unprofitable subsidiaries[41]. - The company is exploring acquisition opportunities to enhance its service offerings, targeting a deal valued at approximately 500 million yuan[6]. Marketing and Customer Engagement - The company established a new marketing management structure in collaboration with Guilin Tourism Development Company, enhancing promotional efforts[36]. - The company plans to implement a new marketing strategy aimed at increasing brand awareness, with a budget allocation of 50 million yuan[9]. - The company plans to enhance its digital marketing efforts, aiming for a 30% increase in online bookings through improved website and mobile app functionalities[179]. - The company introduced a new loyalty program, expected to increase customer retention rates by 30%[152]. Operational Efficiency and Cost Management - Operating costs rose to 301.98 million yuan, reflecting an 18.09% increase, primarily due to rising variable costs[58]. - Management expenses grew by 12.45% to 173.49 million yuan, driven by increased employee compensation and social security costs[59]. - The company achieved a 30% increase in operational efficiency through process optimization initiatives[10]. - The company reported a 10% reduction in operational costs due to efficiency improvements[151]. Legal and Compliance Issues - The company has engaged in legal proceedings regarding property preservation, with assets valued at ¥5,000 million being involved[84]. - The company successfully lifted the freeze on assets worth ¥6,000 million after reaching a settlement in a loan dispute[86]. - The company is currently facing a total debt obligation of 1.71 million yuan, which includes interest payments[5]. - The company plans to enhance its financial disclosures to ensure transparency regarding its legal and financial status[8]. Accounting and Financial Reporting - The company has undergone adjustments in accounting policies and corrections of accounting errors, necessitating restatement of previous financial data[14]. - The company reported a significant accounting policy change regarding government subsidies, moving related income from "non-operating income" to "other income," with no impact on total assets or net profit[155]. - The company identified a major accounting error related to its investment in Jinggangshan Company, necessitating restatements of previous financial reports[157]. - The company’s financial statements for 2017 were modified to comply with new accounting standards issued by the Ministry of Finance, effective from June 12, 2017[155]. Future Outlook - The company provided a future outlook with a revenue guidance of 1,200 million yuan for the next quarter, representing a 20% increase[3]. - The company plans to achieve stable growth in tourist reception, operating revenue, and net profit in 2018 compared to 2017[128]. - The company aims to enhance asset management and develop new projects to drive internal growth[128]. - The company is committed to sustainable tourism practices, with plans to invest 50 million RMB in eco-friendly initiatives[152].