[Part I: Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Part%20I%3A%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, defines key terms, and outlines the report's structure [Important Notice](index=2&type=section&id=Important%20Notice) The company's management assures the accuracy and completeness of the annual report and its financial statements, with no profit distribution planned for 2021 - Company management ensures the truthfulness, accuracy, and completeness of the annual report content and assumes corresponding legal responsibilities[4](index=4&type=chunk) - The company's 2021 profit distribution plan is to not distribute cash dividends, not issue bonus shares, and not convert capital reserves into share capital[5](index=5&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key company entities, related parties, and professional terms used throughout the report for clarity - The reporting period is defined as January 1, 2021, to December 31, 2021[12](index=12&type=chunk) - Abbreviations for the Company, major subsidiaries (e.g., Yulong Snow Mountain Company, Impression Lijiang), and major shareholders (e.g., Huabang Health, Lijiang Tourism Investment) are clarified[12](index=12&type=chunk) [Part II: Company Profile and Key Financial Indicators](index=6&type=section&id=Part%20II%3A%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and presents its key accounting data and financial performance indicators [Company Basic Information](index=6&type=section&id=Company%20Basic%20Information) Lijiang Yulong Tourism Co., Ltd. (002033) is a Shenzhen-listed company with stable core operations, controlled by Lijiang Yulong Snow Mountain Tourism Development Co., Ltd | Item | Information | | :--- | :--- | | **Stock Abbreviation** | Lijiang Shares | | **Stock Code** | 002033 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Legal Representative** | He Xianzhong | | **Controlling Shareholder** | Lijiang Yulong Snow Mountain Tourism Development Co., Ltd. | [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) The company experienced a significant performance decline in 2021, with revenue down 16.87% and net profit turning to loss, primarily due to the pandemic | Key Financial Indicator | 2021 (RMB) | 2020 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 358,348,180.31 | 431,044,774.38 | -16.87% | | Net Profit Attributable to Shareholders of Listed Company (RMB) | -37,803,207.56 | 70,489,807.73 | -153.63% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) (RMB) | -32,825,352.02 | 70,933,636.17 | -146.28% | | Net Cash Flow from Operating Activities (RMB) | 1,487,647.65 | 161,382,645.01 | -99.08% | | Basic Earnings Per Share (RMB/share) | -0.0688 | 0.1283 | -153.62% | | Weighted Average Return on Net Assets | -1.53% | 2.76% | -4.29% | | Total Assets (RMB) | 2,690,235,513.89 | 2,836,940,274.42 | -5.17% | | Net Assets Attributable to Shareholders of Listed Company (RMB) | 2,412,031,497.80 | 2,559,605,759.22 | -5.77% | - The lower of net profit before and after non-recurring gains and losses for the past three fiscal years has been negative, but the audit report does not indicate uncertainty regarding the company's going concern ability[18](index=18&type=chunk) [Key Quarterly Financial Indicators](index=8&type=section&id=Key%20Quarterly%20Financial%20Indicators) The company's 2021 performance showed significant quarterly volatility, peaking in Q2 but deteriorating sharply in Q4, leading to a full-year loss | Financial Indicator (RMB) | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 72,278,275.67 | 130,073,052.30 | 87,906,852.54 | 68,089,999.80 | | **Net Profit Attributable to Shareholders of Listed Company** | -9,920,592.73 | 19,976,248.49 | 903,726.60 | -48,762,589.92 | [Non-recurring Gains and Losses](index=8&type=section&id=Non-recurring%20Gains%20and%20Losses) In 2021, the company's non-recurring gains and losses totaled -RMB 4.98 million, primarily influenced by government subsidies, fair value changes, and significant non-operating expenses | Item | 2021 Amount (RMB) | 2020 Amount (RMB) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -85,678.57 | -246,374.57 | | Government Subsidies Included in Current Profit/Loss | 1,722,949.43 | 4,358,991.41 | | Gains/Losses from Fair Value Changes of Financial Assets Held for Trading, etc. | 1,546,164.38 | - | | Other Non-operating Income and Expenses | -13,283,069.60 | -9,113,212.55 | | Other Income/Loss Items Meeting the Definition of Non-recurring Gains and Losses | 3,164,978.88 | 3,053,703.31 | | **Total** | **-4,977,855.54** | **-443,828.44** | [Part III: Management Discussion and Analysis](index=10&type=section&id=Part%20III%3A%20Management%20Discussion%20and%20Analysis) This section provides a detailed analysis of the company's main business operations, financial performance, asset and liability status, investment activities, and future outlook with associated risks [Main Business and Core Competencies](index=10&type=section&id=Main%20Business%20and%20Core%20Competencies) The company's core businesses include cableways, performances, and hotels, maintaining strong competitive advantages in its integrated tourism value chain despite 2021 pandemic-induced losses - The company's business covers the six elements of tourism: "food, accommodation, transportation, sightseeing, shopping, and entertainment," forming a complete industry chain including snow mountain cableways, brand hotels, travel agencies, and tourism performances[34](index=34&type=chunk) - Core assets such as the three Yulong Snow Mountain cableways and the "Impression Lijiang" performance are all located within the Yulong Snow Mountain scenic area, demonstrating significant geographical advantages[34](index=34&type=chunk)[36](index=36&type=chunk) - Many of the company's hotels are managed by internationally renowned hotel groups such as InterContinental and Lux, providing brand and management advantages[35](index=35&type=chunk) [Main Business Analysis](index=11&type=section&id=Main%20Business%20Analysis) The company's 2021 performance turned to loss due to pandemic impacts, with significant declines in cableway and performance visitor numbers, exacerbated by new hotel losses and reduced subsidies | Business Segment | 2021 Visitor/Performance Count | YoY Change | | :--- | :--- | :--- | | Total Three Cableways | 2.1614 million person-times | -22.40% | | - Yulong Snow Mountain Cableway | 1.5321 million person-times | -16.15% | | - Spruce Meadow Cableway | 0.5923 million person-times | -29.52% | | - Yak Meadow Cableway | 0.0370 million person-times | -68.64% | | Impression Lijiang Performance | 334 sessions / 0.4776 million person-times | -26.68% (person-times) | - Performance loss was due to four main reasons: - **Pandemic Impact**: Yunnan Province suspended inter-provincial travel 3 times, totaling 92 days, missing the peak summer season[38](index=38&type=chunk)[39](index=39&type=chunk) - **New Hotel Losses**: Diqing Moonlight City Indigo Hotel opened in March 2021, incurring an annual loss of **RMB 28.486 million**[38](index=38&type=chunk)[39](index=39&type=chunk) - **Reduced Government Subsidies**: Pandemic-related preferential support funds decreased by approximately **RMB 38.09 million** compared to the previous year[38](index=38&type=chunk)[39](index=39&type=chunk) - **Investment Losses**: Investment income from the associate company Lijiang Nuomeile Ecological Culture Tourism Co., Ltd. was **-RMB 9.5 million**[38](index=38&type=chunk)[39](index=39&type=chunk) [分产品营业情况 (2021年)](index=47&type=section&id=%E5%88%86%E4%BA%A7%E5%93%81%E8%90%A5%E4%B8%9A%E6%83%85%E5%86%B5%20%282021%E5%B9%B4%29) | Product | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin | Revenue YoY | Cost YoY | Gross Margin YoY | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Cableway Transportation** | 166,376,138.54 | 43,071,630.07 | 74.11% | -20.93% | -15.84% | -1.57% | | **Impression Performance** | 46,075,142.94 | 33,772,712.74 | 26.70% | -32.32% | -23.78% | -8.22% | | **Hotel Operations** | 110,007,752.01 | 78,282,442.26 | 28.84% | 3.67% | 32.44% | -15.56% | - Depreciation expenses in hotel operating costs significantly increased by **87.72%** year-on-year, primarily due to the Diqing Moonlight City Indigo Hotel commencing depreciation in March 2021[51](index=51&type=chunk) [现金流量表核心项目变动](index=58&type=section&id=%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8%E6%A0%B8%E5%BF%83%E9%A1%B9%E7%9B%AE%E5%8F%98%E5%8A%A8) | Item | 2021 (RMB) | 2020 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,487,647.65 | 161,382,645.01 | -99.08% | | Net Cash Flow from Investing Activities | -177,387,932.14 | -43,731,329.42 | 305.63% | | Net Increase in Cash and Cash Equivalents | -294,575,951.94 | 17,735,711.31 | -1,760.92% | [Analysis of Assets and Liabilities](index=17&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) As of 2021 year-end, total assets decreased by 5.17% to RMB 2.69 billion, with a notable shift from cash to fixed assets due to project completion [资产构成重大变动情况](index=61&type=section&id=%E8%B5%84%E4%BA%A7%E6%9E%84%E6%88%90%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) | Asset Item | 2021 Year-end Amount (RMB) | % of Total Assets | 2020 Year-end Amount (RMB) | % of Total Assets | Change Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | | **Monetary Funds** | 632,300,335.19 | 23.50% | 926,876,287.13 | 32.61% | Decreased revenue and increased payment for construction projects | | **Fixed Assets** | 1,133,750,997.42 | 42.14% | 863,853,732.54 | 30.39% | Shangri-La Moonlight City project transferred to fixed assets | | **Construction in Progress** | 56,317,615.68 | 2.09% | 388,114,970.91 | 13.65% | Shangri-La Moonlight City project transferred to fixed assets | [Analysis of Investment Status](index=18&type=section&id=Analysis%20of%20Investment%20Status) In 2021, the company's investments increased by 32.18% to RMB 208 million, with a portion of 2014 raised funds still unused and some projects underperforming due to the pandemic - Investment amount during the reporting period was **RMB 208 million**, an increase of **32.18%** compared to **RMB 157 million** in the previous year[62](index=62&type=chunk) - The total raised funds from the 2014 non-public offering were **RMB 753 million**, with **RMB 40 million** used in the current period and a cumulative use of **RMB 662 million**. Unused funds amount to **RMB 211 million**, of which **RMB 100 million** was used to purchase principal-protected bank structured deposits[67](index=67&type=chunk) - Several raised fund investment projects (Shangri-La Moonlight City project, Benzilan Boutique Hotel project, Yulong Snow Mountain Tourist Comprehensive Service Center project) did not achieve expected benefits due to the pandemic[69](index=69&type=chunk) [Future Development Outlook and Risks](index=22&type=section&id=Future%20Development%20Outlook%20and%20Risks) The company plans to expand into mass, leisure, and eco-tourism markets, advancing key projects and smart marketing, while managing risks including safety, competition, and force majeure - The company's future business direction focuses on three major markets: - **Mass Sightseeing**: Consolidate and enhance Yulong Snow Mountain scenic area products[84](index=84&type=chunk) - **Leisure Vacation**: Expand the market based on Lijiang Ancient Town and Lugu Lake projects[84](index=84&type=chunk) - **Specialized Tourism**: Create high-end customized products around the Greater Shangri-La ecological tourism circle[84](index=84&type=chunk) - Key investment projects for 2022 include: - Advance the Lugu Lake Mosuo Town project (Indigo Hotel, Mosuo Palace performance)[90](index=90&type=chunk) - Commence construction of the Ganhaizi Tourist Distribution Center, striving for synchronous operation with rail transit[90](index=90&type=chunk) - Actively follow up on the Yak Meadow Cableway renovation and expansion project[90](index=90&type=chunk) - The main risks faced by the company include: - **Cableway Safety Risk**: Inherent safety hazards exist in the operation of special equipment[86](index=86&type=chunk)[87](index=87&type=chunk) - **Market Competition Risk**: Intense competition in the tourism market[86](index=86&type=chunk)[87](index=87&type=chunk) - **Management Risk**: Business diversification and cross-regional operations impose higher management requirements[86](index=86&type=chunk)[87](index=87&type=chunk) - **Force Majeure Risk**: Major epidemics (such as COVID-19) and natural disasters have a significant adverse impact on performance[86](index=86&type=chunk)[87](index=87&type=chunk) [Part IV: Corporate Governance](index=26&type=section&id=Part%20IV%3A%20Corporate%20Governance) This section details the company's corporate governance structure, the composition and remuneration of its board and management, and the effectiveness of its internal control systems [Overview of Corporate Governance](index=26&type=section&id=Overview%20of%20Corporate%20Governance) The company maintains a compliant "three boards and one layer" governance structure, operating independently from its controlling shareholder across all key business functions - The company has established a modern corporate governance structure of "three boards and one layer" (General Meeting of Shareholders, Board of Directors, Supervisory Board, and Management), with four specialized committees under the Board of Directors: Strategy, Nomination, Audit, and Remuneration & Appraisal[95](index=95&type=chunk)[97](index=97&type=chunk) - The company is independent from its controlling shareholder in terms of business, personnel, assets, organization, and finance, possessing full autonomous operational capabilities[102](index=102&type=chunk)[103](index=103&type=chunk) [Directors, Supervisors, and Senior Management](index=28&type=section&id=Directors%2C%20Supervisors%2C%20and%20Senior%20Management) The company's board and management structure remained stable, with one supervisor change, and detailed remuneration and concurrent roles at shareholder entities were disclosed - During the reporting period, Mr. Liu Yu resigned as supervisor due to work changes, and Ms. Sun Jie was elected as the new supervisor by the General Meeting of Shareholders[107](index=107&type=chunk)[108](index=108&type=chunk) [2021年度部分董监高薪酬情况 (单位：万元)](index=120&type=section&id=2021%E5%B9%B4%E5%BA%A6%E9%83%A8%E5%88%86%E8%91%A3%E7%9B%91%E9%AB%98%E8%96%AA%E9%85%AC%E6%83%85%E5%86%B5%20%28%E5%8D%95%E4%BD%8D%EF%BC%9A%E4%B8%87%E5%85%83%29) | Name | Position | Total Pre-tax Remuneration from Company (RMB 10,000) | Receives Remuneration from Related Parties | | :--- | :--- | :--- | :--- | | He Xianzhong | Chairman | 40.92 | No | | Zhang Haian | Vice Chairman | 3 | Yes | | Zhang Songshan | Director | 3 | Yes | | Liu Xiaohua | Director, General Manager | 33.92 | No | | Yang Ning | Board Secretary, Deputy General Manager | 25.97 | No | | Lv Qingze | CFO | 25.97 | No | [Internal Control](index=39&type=section&id=Internal%20Control) The company maintains a sound internal control system, with no material weaknesses identified in financial or non-financial reporting, covering over 90% of consolidated assets and revenue - The company's Board of Directors believes that the existing internal control system is effective and provides reasonable assurance for the preparation of true and fair financial statements and the healthy operation of the company's various business activities[136](index=136&type=chunk) [内部控制自我评价报告摘要](index=139&type=section&id=%E5%86%85%E9%83%A8%E6%8E%A7%E5%88%B6%E8%87%AA%E6%88%91%E8%AF%84%E4%BB%B7%E6%8A%A5%E5%91%8A%E6%91%98%E8%A6%81) | Evaluation Scope | Proportion | | :--- | :--- | | Proportion of Total Assets of Units within Evaluation Scope to Total Consolidated Assets | 98.60% | | Proportion of Operating Revenue of Units within Evaluation Scope to Total Consolidated Operating Revenue | 93.94% | | **Number of Deficiencies** | **(count)** | | Number of Material Weaknesses in Financial Reporting | 0 | | Number of Material Weaknesses in Non-financial Reporting | 0 | | Number of Significant Deficiencies in Financial Reporting | 0 | | Number of Significant Deficiencies in Non-financial Reporting | 0 | [Part V: Environmental and Social Responsibility](index=42&type=section&id=Part%20V%3A%20Environmental%20and%20Social%20Responsibility) This section outlines the company's commitment to environmental protection and its active engagement in social responsibility initiatives [Environmental and Social Responsibility](index=42&type=section&id=Environmental%20and%20Social%20Responsibility) The company demonstrates environmental responsibility through ecological maintenance funds and ISO14000 certification, while actively contributing to rural revitalization and poverty alleviation through targeted community support - The company is not classified as a key pollutant-discharging unit and has established an environmental protection fund extraction mechanism for the ecological preservation of the Yulong Snow Mountain scenic area[143](index=143&type=chunk)[144](index=144&type=chunk) - The company actively fulfills its social responsibilities by continuously assisting Yilong Village through various means, promoting the effective衔接 of poverty alleviation achievements with rural revitalization[145](index=145&type=chunk)[146](index=146&type=chunk)[147](index=147&type=chunk) [Part VI: Significant Matters](index=44&type=section&id=Part%20VI%3A%20Significant%20Matters) This section covers the company's fulfillment of commitments, significant related party transactions, and the status of major contracts and entrusted wealth management activities [Fulfillment of Commitments](index=44&type=section&id=Fulfillment%20of%20Commitments) The company and its related parties consistently fulfilled all commitments related to share reform, asset restructuring, and refinancing during the reporting period - The company and relevant committing parties have timely fulfilled all unfulfilled commitments during and as of the end of the reporting period[150](index=150&type=chunk)[154](index=154&type=chunk) [Significant Related Party Transactions](index=50&type=section&id=Significant%20Related%20Party%20Transactions) The company reported no significant related party transactions during the period, including those related to daily operations, asset/equity changes, or joint investments - The company had no significant related party transactions related to daily operations, significant asset or equity acquisition/disposal, joint external investments, or other significant related party transactions during the reporting period[162](index=162&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk)[169](index=169&type=chunk) [Significant Contracts and Their Fulfillment](index=51&type=section&id=Significant%20Contracts%20and%20Their%20Fulfillment) The company had no major contracts for trusteeship, contracting, leasing, or guarantees, but engaged in RMB 110 million in low-risk entrusted wealth management with no principal loss risk - The company had no trusteeship, contracting, leasing, or significant guarantee matters during the reporting period[170](index=170&type=chunk)[171](index=171&type=chunk)[172](index=172&type=chunk)[173](index=173&type=chunk) [2021年委托理财概况 (单位：万元)](index=175&type=section&id=2021%E5%B9%B4%E5%A7%94%E6%89%98%E7%90%86%E8%B4%A2%E6%A6%82%E5%86%B5%20%28%E5%8D%95%E4%BD%8D%EF%BC%9A%E4%B8%87%E5%85%83%29) | Specific Type | Fund Source | Entrusted Wealth Management Amount (RMB 10,000) | Unmatured Balance (RMB 10,000) | Overdue Unrecovered Amount (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Raised Funds | 10,000 | 10,000 | 0 | | Brokerage Wealth Management Products | Own Funds | 1,000 | 1,000 | 0 | | **Total** | | **11,000** | **11,000** | **0** | [Part VII: Changes in Shares and Shareholder Information](index=53&type=section&id=Part%20VII%3A%20Changes%20in%20Shares%20and%20Shareholder%20Information) This section details the company's share capital changes, shareholder structure, and information regarding its controlling shareholder and actual controller [Changes in Shares](index=53&type=section&id=Changes%20in%20Shares) The company's total share capital remained stable at 549,490,711 shares during the reporting period, predominantly unrestricted - The company's total share capital and structure remained unchanged during the reporting period, with a total share capital of **549,490,711 shares**[183](index=183&type=chunk) [Shareholders and Actual Controller Information](index=54&type=section&id=Shareholders%20and%20Actual%20Controller%20Information) As of year-end, the company had 36,018 shareholders, with Lijiang Yulong Snow Mountain Tourism Development as controlling shareholder and Mr. Zhang Songshan as actual controller, whose related party's shares are fully pledged [前四大股东持股情况 (截至2021年末)](index=185&type=section&id=%E5%89%8D%E5%9B%9B%E5%A4%A7%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%20%28%E6%88%AA%E8%87%B32021%E5%B9%B4%E6%9C%AB%29) | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held (shares) | Share Status | | :--- | :--- | :--- | :--- | :--- | | Lijiang Yulong Snow Mountain Tourism Development Co., Ltd. | State-owned Legal Person | 15.73% | 86,438,390 | - | | Huabang Life Health Co., Ltd. | Domestic Non-state-owned Legal Person | 14.26% | 78,370,500 | Pledged 78,370,500 | | Yunnan Provincial Investment Holding Group Co., Ltd. | State-owned Legal Person | 9.20% | 50,563,500 | - | | Lijiang Yulong Snow Mountain Scenic Area Investment Management Co., Ltd. | State-owned Legal Person | 5.81% | 31,902,745 | - | - The company's actual controller is Mr. Zhang Songshan. Huabang Health and Yulong Snow Mountain Company, whose voting rights it can control, form a concerted action relationship, collectively controlling **29.99%** of the company's equity[187](index=187&type=chunk)[190](index=190&type=chunk)[700](index=700&type=chunk) [Part VIII: Preferred Shares Information](index=60&type=section&id=Part%20VIII%3A%20Preferred%20Shares%20Information) This section confirms the absence of preferred shares in the company's capital structure during the reporting period [Preferred Shares](index=60&type=section&id=Preferred%20Shares) The company did not have any preferred shares during the reporting period - The company had no preferred shares during the reporting period[194](index=194&type=chunk) [Part IX: Bonds Information](index=61&type=section&id=Part%20IX%3A%20Bonds%20Information) This section confirms the absence of any bond-related activities or outstanding bonds for the company during the reporting period [Bonds](index=61&type=section&id=Bonds) The company had no bond-related activities or outstanding bonds during the reporting period - The company had no bonds during the reporting period[197](index=197&type=chunk) [Part X: Financial Report](index=62&type=section&id=Part%20X%3A%20Financial%20Report) This section presents the company's audited financial statements, including the audit opinion, key financial data, and detailed notes explaining accounting policies and significant financial events [Audit Report](index=62&type=section&id=Audit%20Report) Zhong Shen Zhong Huan CPA issued an unqualified audit opinion on the 2021 financial statements, with revenue recognition identified as a key audit matter due to its significance and inherent risk - The auditing firm issued a standard unqualified audit opinion (Zhonghuan Audit [2022] No. 1610005)[199](index=199&type=chunk) - The key audit matter is "revenue recognition." Auditors performed procedures including internal control testing, sampling, confirming business systems, reconciling business and financial data, and cut-off testing to address this risk[201](index=201&type=chunk)[203](index=203&type=chunk) [Main Financial Statements](index=65&type=section&id=Main%20Financial%20Statements) In 2021, the company experienced declines in total assets and equity, with operating revenue down 16.87%, leading to a net loss and a significant drop in operating cash flow [合并资产负债表主要项目 (单位：元)](index=217&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8%E4%B8%BB%E8%A6%81%E9%A1%B9%E7%9B%AE%20%28%E5%8D%95%E4%BD%8D%EF%BC%9A%E5%85%83%29) | Item | December 31, 2021 (RMB) | December 31, 2020 (RMB) | | :--- | :--- | :--- | | **Total Assets** | **2,690,235,513.89** | **2,836,940,274.42** | | Monetary Funds | 632,300,335.19 | 926,876,287.13 | | Fixed Assets | 1,133,750,997.42 | 863,853,732.54 | | Construction in Progress | 56,317,615.68 | 388,114,970.91 | | **Total Liabilities** | **179,090,602.11** | **170,604,216.47** | | **Total Owner's Equity** | **2,511,144,911.78** | **2,666,336,057.95** | | Owner's Equity Attributable to Parent Company | 2,412,031,497.80 | 2,559,605,759.22 | [合并利润表主要项目 (单位：元)](index=224&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8%E4%B8%BB%E8%A6%81%E9%A1%B9%E7%9B%AE%20%28%E5%8D%95%E4%BD%8D%EF%BC%9A%E5%85%83%29) | Item | 2021 (RMB) | 2020 (RMB) | | :--- | :--- | :--- | | **I. Total Operating Revenue** | **358,348,180.31** | **431,044,774.38** | | **II. Total Operating Costs** | **366,883,612.73** | **334,024,772.77** | | Including: Operating Costs | 193,010,807.97 | 191,645,820.47 | | Administrative Expenses | 140,654,806.79 | 126,079,845.50 | | **III. Operating Profit (Loss)** | **-12,866,588.92** | **104,913,385.50** | | **V. Net Profit (Net Loss)** | **-37,603,367.06** | **75,858,398.04** | | Net Profit Attributable to Parent Company Shareholders | -37,803,207.56 | 70,489,807.73 | [合并现金流量表主要项目 (单位：元)](index=231&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8%E4%B8%BB%E8%A6%81%E9%A1%B9%E7%9B%AE%20%28%E5%8D%95%E4%BD%8D%EF%BC%9A%E5%85%83%29) | Item | 2021 (RMB) | 2020 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,487,647.65 | 161,382,645.01 | | Net Cash Flow from Investing Activities | -177,387,932.14 | -43,731,329.42 | | Net Cash Flow from Financing Activities | -118,675,667.45 | -99,915,604.28 | | **Net Increase in Cash and Cash Equivalents** | **-294,575,951.94** | **17,735,711.31** | [Notes to Financial Statements](index=86&type=section&id=Notes%20to%20Financial%20Statements) The notes detail accounting policies, financial data, and significant events, including the adoption of new leasing standards, tax incentives, a new subsidiary, related party transactions, and the severe pandemic impact on 2021 performance - The company adopted new leasing standards from January 1, 2021, making retrospective adjustments to accounts such as prepayments and long-term deferred expenses, and recognizing right-of-use assets and lease liabilities[384](index=384&type=chunk)[386](index=386&type=chunk)[387](index=387&type=chunk) - The company and its subsidiaries Lijiang Spruce Meadow Tourist Cableway Co., Ltd., Lijiang Yak Meadow Tourist Cableway Co., Ltd., and Lijiang Yulong Snow Mountain Impression Tourism Culture Industry Co., Ltd. benefit from the Western Development policy, applying a **15%** preferential corporate income tax rate[397](index=397&type=chunk)[398](index=398&type=chunk)[399](index=399&type=chunk)[400](index=400&type=chunk) - In August 2021, the company established a new wholly-owned subsidiary, Lijiang Xuechuan Tourism Services Co., Ltd., to serve as the project company for the Ganhaizi Tourist Distribution Center[670](index=670&type=chunk) - The pandemic's impact, including multiple suspensions of inter-provincial travel, severely affected the company's operations and was the primary reason for the decline in 2021 operating revenue and net profit loss[740](index=740&type=chunk)

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].

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示: 丽江玉龙旅游股份有限公司 2021 年第三季度报告 证券代码：002033 证券简称：丽江股份 公告编号：2021032 丽江玉龙旅游股份有限公司 2021 年第三季度报告 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗 漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 87,906,852.54 | -50.94% | 290,258,180.51 | 6.00% | ...

丽江玉龙旅游股份有限公司 2021 年半年度报告全文 丽江玉龙旅游股份有限公司 2021 年半年度报告 2021 年 08 月 1 丽江玉龙旅游股份有限公司 2021 年半年度报告全文 | | œ | | --- | --- | | | | | | 2 | | 第一节 重要提示、目录和释义 01 | | --- | | 第二节 公司简介和主要财务指标 06 | | 第三节 管理层讨论与分析 09 | | 第四节 公司治理 17 | | 第五节 环境和社会责任 19 | | 第六节 重要事项 20 | | 第七节 股份变动及股东情况 24 | | 第八节 优先股相关情况 29 | | 第九节 债券相关情况 30 | | 第十节 财务报告 31 | 丽江玉龙旅游股份有限公司 2021 年半年度报告全文 备查文件目录 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人和献中、主管会计工作负责人吕庆泽及会计机构负责人(会计主 管人员)杨丽平声明：保证本半年度报告中财务报告的真 ...

丽江玉龙旅游股份有限公司 2021 年第一季度报告全文 丽江玉龙旅游股份有限公司 2021 年第一季度报告 2021 年 04 月 1 丽江玉龙旅游股份有限公司 2021 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。 公司负责人和献中、主管会计工作负责人吕庆泽及会计机构负责人(会计主 管人员)杨丽平声明：保证季度报告中财务报表的真实、准确、完整。 2 √ 适用 □ 不适用 单位：元 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 一标准定额或定量享受的政府补助除外） | 124,204.77 | | | 除上述各项之外的其他营业外收入和支出 | 22,071.87 | | | 其他符合非经常性损益定义的损益项目 | | 863,013.69 结构性存款利息 | | 减：所得税影响额 | 145,057.12 | | | ...

丽江玉龙旅游股份有限公司 2020 年年度报告全文 丽江玉龙旅游股份有限公司 2020 年年度报告 2021 年 03 月 1 丽江玉龙旅游股份有限公司 2020 年年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人和献中、主管会计工作负责人吕庆泽及会计机构负责人(会计主 管人员)杨丽平声明：保证本年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本年度报告中涉及的公司未来计划等前瞻性陈述，不构成对投资者的实质 承诺，请投资者及相关人士对此保持足够的风险认识，理解计划、预测与承诺 之间的差异。 公司经本次董事会审议通过的利润分配预案为：以 549,490,711 为基数， 向全体股东每 10 股派发现金红利 2.00 元（含税），送红股 0 股（含税），不以 公积金转增股本。 2 | 目录 | | --- | | 第一节 重要提示、目录和释义 6 | | --- | | 第二节 公司简介和主要财务指标 11 | | 第三节 ...

丽江玉龙旅游股份有限公司 2020 年第三季度报告全文 丽江玉龙旅游股份有限公司 2020 年第三季度报告 2020 年 10 月 1 丽江玉龙旅游股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及除以下存在异议声明的董事、监事、高级管理人员 外的其他董事、监事、高级管理人员均保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 董事、监事、高级管理人员异议声明 | | | 所有董事均已出席了审议本次季报的董事会会议。 公司负责人和献中、主管会计工作负责人吕庆泽及会计机构负责人(会计主 管人员)杨丽平声明：保证季度报告中财务报表的真实、准确、完整。 2 丽江玉龙旅游股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 2,844,616,384.13 | 2,858,675, ...

丽江玉龙旅游股份有限公司 2020 年半年度报告全文 丽江玉龙旅游股份有限公司 2020 年半年度报告 2020 年 08 月 1 丽江玉龙旅游股份有限公司 2020 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人和献中、主管会计工作负责人吕庆泽及会计机构负责人(会计主 管人员)杨丽平声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 为做好新型冠状病毒感染的肺炎疫情防控，1 月 25 日起玉龙雪山景区关闭, 公司旗下的印象丽江演艺项目于 1 月 24 日停演;景区内的冰川公园索道、云杉 坪索道、牦牛坪索道、龙悦公司餐饮等业务于 1 月 25 日暂停运营;古城丽世酒 店于 1 月 25 日暂停运营、和府洲际酒店于 1 月 28 日暂停运营、英迪格酒店于 1 月 30 日暂停运营。按照中共云南省委、云南省人民政府应对新型冠状病毒感染 肺炎疫情工作领导小组指挥部第 10 号通告《云南省应对新冠肺炎疫情分区 ...

丽江玉龙旅游股份有限公司 2020 年第一季度报告 2020 年 04 月 丽江玉龙旅游股份有限公司 2020 年第一季度报告全文 1 丽江玉龙旅游股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人和献中、主管会计工作负责人吕庆泽及会计机构负责人(会计主 管人员)杨丽平声明：保证季度报告中财务报表的真实、准确、完整。 2 丽江玉龙旅游股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 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） | 41,401,966.54 | 128,450,028.54 | -67.77% | | 归属于上市公司股东的净利润（元） | -21,459,181.69 | 35,318 ...

丽江玉龙旅游股份有限公司 2019 年年度报告全文 丽江玉龙旅游股份有限公司 2019 年年度报告 2020 年 03 月 1 丽江玉龙旅游股份有限公司 2019 年年度报告全文 第一节重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人和献中、主管会计工作负责人吕庆泽及会计机构负责人(会计主 管人员)杨丽平声明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本年度报告中涉及的公司未来计划等前瞻性陈述，不构成对投资者的实质 承诺，请投资者及相关人士对此保持足够的风险认识，理解计划、预测与承诺 之间的差异。 为做好新型冠状病毒感染的肺炎疫情防控，1 月 25 日起玉龙雪山景区关闭, 公司旗下的印象丽江演艺项目于 1 月 24 日停演;景区内的冰川公园索道、云杉 坪索道、牦牛坪索道、龙悦公司餐饮等业务于 1 月 25 日暂停运营;古城丽世酒 店于 1 月 25 日暂停运营、和府洲际酒店于 1 月 28 日暂停运营、英迪格酒店于 1 月 30 ...