证券代码：002033 证券简称：丽江旅游 丽江玉龙旅游股份有限公司 投资者关系活动记录表 编号：2016-012 | --- | --- | --- | |----------------|----------------------------------------|----------------------------------------------------------| | | | | | 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 | 东兴证券：张凯琳 | | | 人员姓名 | | | | 时间 | 2016 年 6 月 24 日 | | | 地点 | 公司会议室 | | | 上市公司接待人 | 董 秘：杨 宁 记录：王 岚 | | | 员姓名 | | | | 投资者关系活动 | 1 、初次来丽江请介绍下公司的基本情况。 | | | 主要内容介绍 | 公司目前区域内的业务主要分为景区 | / 城 ...

证券代码：002033 证券简称：丽江旅游 编号：2016-003 丽江玉龙旅游股份有限公司 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 | 安信证券：杨清朴 | | | 人员姓名 | | | | 时间 | 2016 年 1 月 25 日 | | | 地点 | 公司会议室 | | | 上市公司接待人 | 董 秘：杨 宁 | | | 员姓名 | 投资者关系管理员：王 岚 | | | 投资者关系活动 | 一、公司的基本情况介绍 | | | 主要内容介绍 | | 目前，公司核心业务主要分为三大板块：索道业务、印象演 | | | 出、酒店 ...

Company Overview - Lijiang Yulong Tourism Co., Ltd. operates primarily in two segments: scenic areas and urban areas [3] - Key attractions include Yulong Snow Mountain, "Impression Lijiang" cultural performance, and various hotels and commercial streets [3][4] Financial Performance - The company reported a turnaround in the first half of 2015, with the Dragon Delight Restaurant achieving profitability after previous losses [3] - The "Impression Lijiang" performance saw a decline of over 10% in 2015, attributed to travel agency route arrangements [5] Visitor Statistics - The capacity of the main cableway (Yulong Snow Mountain) is 10,000 visitors per day, typically reached only during peak seasons [4] - The visitor distribution for the cableway is 70% group and 30% individual, while "Impression Lijiang" has over 90% group visitors [5] Business Development - The company is expanding its business model by integrating biological resources with tourism shopping through investments in local companies [3] - Future projects include the Moonlight City in Shangri-La and a boutique hotel in Benzilan, with completion expected by the end of 2016 [3][4] Market Strategy - The company is actively seeking acquisition opportunities and exploring projects to enhance profitability [7] - Plans to enhance the "Maca" business by upgrading from food products to health and pharmaceutical products [7] Internet and E-commerce Initiatives - The company is collaborating with online travel agencies to diversify its customer base and develop various e-commerce models [6] - A new travel agency, Longtu, is being established to focus on day tours and themed travel experiences [6] Future Outlook - The tourism industry is expected to maintain stable growth unless impacted by unforeseen events [9] - Key growth drivers for the next two years include an increase in Lijiang tourist numbers, reduction of losses from commercial streets and hotels, and successful project acquisitions [9][10]

Group 1: Performance Challenges - The main reason for the decline in "Impression Lijiang" performance is intensified competition in the local performing arts market, with an increase in low-priced competing products [2][3] - The company aims to maintain the performance decline within the same level as last year, focusing on market dynamics and strengthening cooperation with travel agencies [3] - The company reports a 5-10% annual growth in visitor statistics, indicating a slowdown compared to previous years, influenced by the broader economic environment [4] Group 2: Visitor Trends and Marketing Strategies - New visitors depend on the overall number of tourists coming to Lijiang, with repeat visitors constituting a portion of the audience [3] - The company plans to enhance marketing efforts and integrate resources across different business lines to improve product competitiveness [3] Group 3: Infrastructure and Development Projects - The company is exploring the development of small boutique hotels in the Shangri-La area, with room counts ranging from 10-20, and plans to provide transportation services [6] - The "Shangri-La Moonlight City" project is under construction, with the commercial street expected to be completed by the end of 2016 [6] - The company is working on a sightseeing railway project connecting the urban area to the Yulong Snow Mountain scenic area [8] Group 4: Financial and Operational Insights - The company aims to reduce losses in hotel operations, which have been affected by government spending restrictions and economic downturns [5] - The cash flow is primarily allocated to the Shangri-La project, with an anticipated need for an additional 400-500 million yuan for future investments [10][11] - The company is focusing on external growth strategies to enhance operational performance [11]

Company Overview - Lijiang Yulong Tourism Co., Ltd. operates primarily in two segments: scenic areas and urban areas [2] - Key attractions include Yulong Snow Mountain with various cable cars and the "Impression Lijiang" cultural performance [2][3] - Urban operations consist of three hotels and a commercial street [3] Financial Performance - The cable car business has maintained a growth rate of approximately 10% in recent years, with the major cable car experiencing a 40% increase last year [3] - The major cable car contributes the highest profit margin, leading to a shift in marketing strategies [3] - The team-to-individual visitor ratio for the major cable car is 80% to 20%, while for the other cable car, it is 55% to 45% [4] Investment and Projects - Funds raised are primarily directed towards the Moonlight City project in Shangri-La, following the hotel and commercial street model [3] - The company is also investing in a boutique hotel project in Benzilan, which has already opened [3] - The Moonlight City project is currently under construction, with adjustments to investment scale and timeline due to market conditions [5] Challenges and Strategies - The hotel segment has faced losses in recent years due to government spending restrictions and economic downturns [4] - The company plans to enhance marketing strategies and explore innovative combinations to boost cable car usage [6] - The "Impression Lijiang" performance has a high reliance on group bookings, with over 95% of attendees being part of tour groups [7] Future Outlook - The company aims to expand its operations beyond Lijiang, focusing on cultural tourism and unique experiences [6] - There is a significant cash flow requirement for future projects, including the potential development of the Lugu Lake project [5] - The company is actively seeking opportunities for project development in line with government directives [6]

Group 1: Operational Performance - The company's operations in April were normal, similar to the first quarter performance [2] - The large cableway's capacity has increased, leading to higher recognition and visitor preference [3] - The maximum capacity for the large cableway is approximately 10,000 people, with efforts to divert visitors to other cableways during peak times [3] Group 2: Marketing and Sales Strategies - The company is promoting joint marketing efforts between scenic tickets and the "Impression Lijiang" show, with ticket prices for the show included in package deals [4] - The company plans to lower the individual ticket price (currently 248 RMB) to boost sales among individual tourists [5] - The company is exploring partnerships with local travel agencies to enhance marketing efforts [5] Group 3: Visitor Trends and Challenges - The number of repeat visitors to the snow mountain is low, contributing to a discrepancy between government and company visitor statistics [5] - The decline in "Impression Lijiang" performance is being managed to maintain last year's levels [5] Group 4: Future Projects and Investments - The Shangri-La project is divided into two parts, with one part already opened and the other under construction, expected to be completed by the end of 2017 [7] - The company is actively seeking opportunities for the Lugu Lake project, aiming to develop unique tourism products [7] - The company has no immediate plans for large-scale investments in hotel projects but is considering resource acquisitions [6] Group 5: Financial Performance and Challenges - The hotel business has seen a decline due to increased competition and lower occupancy rates compared to 2014 [9] - The company is implementing measures to turn around the dining center's performance, including market recognition and cost adjustments [6] - The company's maca business faced significant losses in 2015 due to market oversupply and macroeconomic factors [10]

Company Overview - Lijiang Yulong Tourism Co., Ltd. operates primarily in two segments: scenic areas and urban areas [2] - Key attractions include Yulong Snow Mountain, which features multiple cable cars and cultural performances [3] Business Operations - The company has three cable cars, with an overall growth of nearly 10% compared to last year. The major cable car saw a growth of 15%-20%, while the other two had growth rates below 10% [3][4] - The group and individual visitor ratio for the major cable car is 80%-20%, and for the other two, it is 55%-45% [4] Hotel Operations - The occupancy rates for the hotels are as follows: InterContinental Hotel at 50%-55%, Indigo Hotel at 40%-50%, and Lijiang Lishi Hotel at 50% [7] - The company plans to enhance its hotel offerings by introducing boutique hotels and developing a small boutique hotel model with 10-20 rooms [5] Market Challenges - The performance of the "Impression Lijiang" show has declined by 20% compared to last year, largely due to intense competition in the performance market [6] - The company is focusing on strengthening partnerships with travel agencies and enhancing marketing efforts to improve the performance of its shows [6] Future Projects - The company is actively pursuing new projects, including the Moonlight City project in Shangri-La and a boutique hotel project in Benzilan, with a total investment of 84 million yuan [10] - The company is also exploring opportunities in the Lugu Lake area, although the project is still in the planning stages [7] Government Support - Recent government initiatives have significantly improved transportation infrastructure around Lijiang, including the upcoming opening of the Shanghai-Kunming high-speed rail [8] Shareholder Dynamics - The company acknowledges the recent shareholding increase by Huabang, viewing it as a market behavior and expressing openness to their involvement [9][10]

Financial Performance - The company's operating revenue for 2021 was ¥358,348,180.31, a decrease of 16.87% compared to ¥431,044,774.38 in 2020[18]. - The net profit attributable to shareholders was a loss of ¥37,803,207.56, representing a decline of 153.63% from a profit of ¥70,489,807.73 in 2020[18]. - The net cash flow from operating activities was ¥1,487,647.65, down 99.08% from ¥161,382,645.01 in the previous year[18]. - The basic earnings per share were -¥0.0688, a decrease of 153.62% compared to ¥0.1283 in 2020[18]. - Total assets at the end of 2021 were ¥2,690,235,513.89, a decrease of 5.17% from ¥2,836,940,274.42 at the end of 2020[18]. - The net assets attributable to shareholders decreased by 5.77% to ¥2,412,031,497.80 from ¥2,559,605,759.22 in 2020[18]. - The company reported a weighted average return on equity of -1.53%, down from 2.76% in 2020[18]. - The net profit after deducting non-recurring gains and losses was -¥32,825,352.02, a decline of 146.28% from ¥70,933,636.17 in 2020[18]. - The company indicated uncertainty regarding its ability to continue as a going concern, as the net profit for the last three accounting years has been negative[18]. Revenue and Visitor Statistics - The company received a total of 2.16 million visitors across its three cable cars, representing a year-on-year decrease of 22.40%[37]. - The Yulong Snow Mountain cable car received 1.53 million visitors, down 16.15% year-on-year, while the Yunshanping cable car saw a 29.52% decline with 0.59 million visitors[37]. - The company’s hotel segment, including the InterContinental and Indigo hotels, generated revenue of CNY 80.99 million, a decrease of 14.57% year-on-year[37]. - The third quarter is traditionally the peak season for tourism, driven by summer vacations, which significantly impacts the company's revenue streams from cableway transport and dining services[31]. Operational Challenges - The tourism industry, in which the company operates, faced severe impacts due to ongoing COVID-19 pandemic challenges, including multiple suspensions of inter-provincial travel in Yunnan Province[28]. - The company faced significant operational disruptions due to COVID-19, with a total of 92 days of suspended cross-province tourism activities[37]. - The company reported a significant decrease in depreciation for the cableway segment by 57.78% due to the completion of depreciation for certain fixed assets[50]. Strategic Initiatives and Future Plans - The company plans to expand its projects in the Greater Shangri-La tourism ecosystem, including the completion of the Lugu Lake Mosuo Town project and the Yulong Snow Mountain visitor center[39][40]. - The company aims to create 2 additional 5A-level scenic spots and 2 national-level tourist resorts as part of its development strategy[80]. - The company is focusing on three market segments: mass sightseeing, leisure vacation, and ecological special tourism, to expand its business[81]. - The company plans to enhance its marketing strategy by upgrading its smart marketing system to expand from "one machine to tour the snow mountain" to "one machine to tour Lijiang," aiming to cover all tourism resources in Lijiang[86]. - The company will actively seek investment opportunities in tourism resource development in areas like Lashi Lake and the Jinsha River tourism belt, with plans for new projects and potential acquisitions[88]. Governance and Management - The company has established a modern governance structure with a board of directors, supervisory board, and management team to ensure effective decision-making and oversight[91]. - The board of directors confirmed that there are no significant discrepancies between the company's governance practices and regulatory requirements[99]. - The company maintains a strong independence from its controlling shareholder, ensuring operational and financial autonomy[98]. - The company has established various internal management systems, including the subsidiary management system and internal audit management system, to ensure effective control over subsidiaries[133]. Environmental and Social Responsibility - The company has implemented environmental protection measures, including the establishment of a long-term mechanism to ensure sustainable development of the scenic area[139]. - The company has committed to an environmentally friendly and energy-saving development approach, ensuring all investment projects meet environmental protection requirements[139]. - The company emphasizes a "poverty alleviation first, education first" approach, providing various forms of educational support to Yilong Village annually[143]. - The company has deployed 3 well-respected team members to assist in poverty alleviation efforts in Yilong Village despite operational difficulties due to the COVID-19 pandemic[142]. Financial Management and Investments - The company reported a total distributable profit of ¥1,060,849,307.16, but did not propose any cash dividends or stock bonuses for the reporting period[131]. - The company has a total of CNY 211.22 million in unused raised funds, with CNY 100 million invested in structured deposits and the remainder held in a dedicated account[67]. - The company reported a significant increase in investment activity cash flow net amount by 305.63% to -¥177,387,932.14 in 2021 from -¥43,731,329.42 in 2020[58]. Audit and Compliance - The audit opinion for Lijiang Yulong Tourism Co., Ltd. is a standard unqualified opinion, indicating that the financial statements fairly present the company's financial position as of December 31, 2021[197]. - The financial statements were prepared in accordance with the accounting standards for enterprises, reflecting the company's operating results and cash flows for the year 2021[197]. - Key audit matters include revenue recognition, which is critical for the financial statement audit[200].