Financial Performance - The company's operating revenue for the first half of 2022 was CNY 312,440,873.72, a decrease of 50.87% compared to CNY 635,903,023.33 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was a loss of CNY 29,337,617.74, representing a decline of 388.15% from a profit of CNY 10,181,381.59 in the previous year[22]. - The net cash flow from operating activities was a negative CNY 10,541,081.86, down 102.49% from CNY 423,217,318.52 in the same period last year[22]. - The basic earnings per share were -CNY 0.0290, a decrease of 387.13% compared to CNY 0.0101 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 35,000,435.53, a decline of 1,315.89% from a profit of CNY 2,878,580.35 in the previous year[22]. - The company's operating revenue for the reporting period was ¥312,440,873.72, a decrease of 50.87% compared to ¥635,903,023.33 in the same period last year, primarily due to the impact of the pandemic and tightened prevention policies[35]. - The operating cost decreased by 52.94% to ¥238,213,783.13 from ¥506,156,449.67, reflecting the decline in revenue[35]. - The company reported a total comprehensive loss of CNY 52,424,205.96 for the first half of 2022, compared to a loss of CNY 8,551,383.38 in the same period of 2021[124]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,962,337,065.84, an increase of 3.57% from CNY 4,791,160,528.13 at the end of the previous year[22]. - The company's cash and cash equivalents at the end of the reporting period amounted to CNY 977,792,803.74, representing 19.70% of total assets, an increase of 0.92% from the previous year[42]. - The long-term equity investment increased to CNY 847,542,712.31, accounting for 17.08% of total assets, up by 4.93% year-on-year due to increased investment in joint ventures[42]. - Total liabilities increased to CNY 2,693,759,077.24 from CNY 2,499,786,165.28, marking a rise of 7.8%[117]. - Current liabilities totaled CNY 1,389,468,538.10, down from CNY 1,541,916,252.22, indicating a decrease of 9.9%[117]. - Non-current liabilities rose to CNY 1,304,290,539.14 from CNY 957,869,913.06, an increase of 36.1%[117]. Investment and R&D - Research and development investment increased by 24.45% to ¥23,964,240.33, driven by enhanced R&D efforts in the tourism cultural technology sector[35]. - The company reported an investment income of CNY 1,052,282.20, which accounted for -2.33% of total profit[40]. - The total investment during the reporting period was CNY 267,820,000.00, reflecting a 13.86% increase compared to the previous year[45]. Shareholder and Capital Structure - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares is 1,012,434,813, with 27.82% being limited sale shares[100]. - The proportion of state-owned shares is 18.14%, while other domestic shares account for 9.68%[100]. - Yunnan Expo Tourism Holding Group Co., Ltd. holds 35.74% of shares, making it the largest shareholder with 361,883,986 shares[102]. - The second largest shareholder, Overseas Chinese Town Group Co., Ltd., holds 18.14% with 183,679,720 shares[102]. Risk Factors and Management - The company has outlined potential risks and countermeasures in the report, urging investors to be aware of investment risks[4]. - The company faces market competition risks due to the increasing number of competitors and potential competitors in the tourism industry, which may impact its traditional competitive advantages[54]. - The company is undergoing a transformation and upgrade, requiring higher management capabilities in service, talent, marketing, and technology integration[54]. - The impact of the COVID-19 pandemic continues to affect the tourism and hospitality sectors, with expected slow recovery in visitor numbers in the short term[54]. Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, ensuring professional and scientific decision-making[65]. - The company actively protects the rights of small and medium shareholders by ensuring their participation in major decisions and providing transparent information disclosure[65]. - The company has no significant environmental violations or penalties during the reporting period, adhering to various environmental protection laws[64]. - The company emphasizes the protection of employee rights and has established a human resources management system that complies with legal requirements[66]. Financial Reporting and Auditing - The semi-annual financial report has not been audited[73]. - The financial statements are prepared in accordance with the accounting standards set by the Ministry of Finance, reflecting the company's financial status and operating results accurately[154]. - The company’s accounting period runs from January 1 to December 31 each year[155].

证券代码：002059 证券简称：云南旅游 公告编号：2022-025 云南旅游股份有限公司关于参加 2022年云南辖区上市公司投资者集体接待日活动暨 召开2021年度网上业绩说明会的公告 公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 为进一步加强与投资者的互动交流工作，云南旅游股份有限公司（以下简称"公 司"）将参加由云南省上市公司协会、深圳全景网络有限公司共同举办的"2022年云南 辖区上市公司投资者网上集体接待日暨集体业绩说明会"主题活动，同时，公司将召 开2021年度网上业绩说明会，现将有关事项公告如下： 本次活动将在深圳全景网络有限公司提供的网上平台，采取网络远程的方式举 行，投资者可以登录"全景•路演天下"网站（http://rs.p5w.net/）或关注微信公众号：全 景财经，或下载全景路演APP，参与公司本次投资者集体接待日暨2021年度网上业绩 说明会活动，活动时间为2022年5月19日（星期四）14:30至16:00。 届时公司董事长张睿先生、总经理李坚先生、董事会秘书郭金先生、财务总监李 磊女士和独立董事王军先生将通过网络在线交流形式与投资 ...

Financial Performance - The company's operating revenue for Q1 2022 was ¥197,577,295.60, a decrease of 13.03% compared to ¥227,188,200.39 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥9,249,297.17, representing a decline of 330.19% from a profit of ¥4,018,082.13 in Q1 2021[4] - The net cash flow from operating activities was -¥76,840,047.30, a significant decrease of 116.45% compared to ¥467,223,811.46 in the previous year[4] - Net profit for the current period is -¥20,903,014.38, compared to -¥5,444,852.60 in the previous period, indicating a significant increase in losses[22] - Total comprehensive income for the current period is -¥20,903,014.38, compared to -¥5,444,852.60 in the previous period[22] Assets and Liabilities - Total assets at the end of Q1 2022 were ¥4,634,550,846.80, down 3.27% from ¥4,791,160,528.13 at the end of the previous year[5] - Current assets decreased to CNY 1,709,710,074.19 from CNY 1,837,280,158.89, representing a reduction of about 6.96%[16] - Cash and cash equivalents at the end of Q1 2022 were CNY 752,045,204.58, down from CNY 899,720,205.37 at the beginning of the year, indicating a decline of approximately 16.43%[16] - Total liabilities decreased to CNY 2,364,525,585.28 from CNY 2,499,786,165.28, a reduction of about 5.41%[18] - The company's total equity at the end of Q1 2022 was CNY 2,270,025,261.52, down from CNY 2,291,374,362.85, reflecting a decrease of approximately 0.93%[18] Shareholder Information - The company reported a total of 43,948 common shareholders at the end of the reporting period[12] - The total equity attributable to shareholders decreased by 0.46% to ¥2,079,717,926.42 from ¥2,089,289,215.30 at the end of the previous year[5] Operating Costs and Expenses - Total operating costs decreased to ¥211,841,175.05 from ¥231,818,358.10, a reduction of about 8.6%[19] - Research and development expenses increased to ¥11,061,250.66 from ¥8,719,529.16, reflecting a rise of approximately 27.5%[21] - The company incurred financial expenses of ¥8,476,438.87, down from ¥11,914,515.77, a decrease of about 28.0%[21] Cash Flow - Operating cash flow net amount is -¥76,840,047.30, a decline from ¥467,223,811.46 in the previous period[25] - The company experienced a significant decrease in cash inflow from operating activities, totaling ¥248,067,534.82, down from ¥919,800,592.14 in the previous period[25] - Cash and cash equivalents at the end of the period decreased to ¥746,421,916.07 from ¥1,697,061,231.02, a drop of approximately 56.0%[25] Other Financial Metrics - The basic earnings per share for Q1 2022 was -¥0.0091, a decrease of 327.50% from ¥0.004 in the same period last year[4] - The company experienced a 751.79% increase in credit impairment losses, amounting to -¥2,143,643.81 compared to -¥251,663.27 in Q1 2021[10] - The company recorded a 145.87% increase in asset disposal gains, totaling ¥5,517.04 compared to ¥2,243.90 in the previous year[10] - The long-term equity investment was CNY 579,001,494.70, a slight decrease from CNY 581,983,580.36, reflecting a decline of approximately 0.50%[16] - The total non-current liabilities were CNY 949,920,260.28, down from CNY 957,869,913.06, indicating a decrease of about 0.93%[18]

Financial Performance - In 2021, the company's operating revenue was CNY 1,417,835,781.90, a decrease of 21.76% compared to CNY 1,812,267,104.75 in 2020[22]. - The net profit attributable to shareholders was a loss of CNY 325,646,366.70, representing a decline of 304.38% from a profit of CNY 159,333,591.72 in 2020[22]. - The net cash flow from operating activities was a negative CNY 270,485,534.43, a decrease of 656.92% compared to CNY 48,568,306.00 in 2020[22]. - The total assets at the end of 2021 were CNY 4,791,160,528.13, down 15.59% from CNY 5,675,828,255.11 at the end of 2020[22]. - The basic earnings per share for 2021 was -CNY 0.3216, a decline of 304.32% from CNY 0.1574 in 2020[22]. - The weighted average return on net assets was -14.36% in 2021, a decrease of 21.06% from 6.70% in 2020[22]. - The total profit for the year was CNY -350.81 million, a decline of 322% compared to the previous year[35]. - The company reported a significant drop in net profit, with a net profit excluding non-recurring gains and losses of -CNY 306,458,873.88, down 407.48% from CNY 99,667,181.11 in 2020[22]. Revenue Breakdown - The tourism cultural technology segment generated CNY 909,657,104.82, accounting for 64.16% of total revenue, with a year-on-year increase of 41.80%[42]. - The tourism comprehensive service segment saw a significant decline in revenue, dropping 63.59% to CNY 394,941,102.31 from CNY 1,084,763,709.02 in the previous year[42]. - The revenue from the province accounted for 35.84% of total revenue, down from 62.71% in 2020, indicating a decline of 55.28%[42]. - The revenue from outside the province increased by 34.59% to CNY 909,657,104.82, representing 64.16% of total revenue[42]. Strategic Initiatives - The company plans to deepen its strategy as a "comprehensive service provider for all-domain tourism" and explore new business combinations involving culture, technology, and agriculture[34]. - The company is investing in research and development for immersive and interactive products, as well as tourism internet technologies[36]. - The company has established Yunnan Overseas Chinese Town Expo Cultural Technology Co., expanding its business into other provinces and enhancing its operational capabilities[36]. - The company is focusing on capital operation to integrate quality tourism resources and drive industry development[39]. - The company has made significant progress in risk asset control and financial supervision to ensure high-quality development[37]. Governance and Compliance - The company emphasizes the importance of a robust governance structure, ensuring compliance with legal regulations and maintaining independence from its controlling shareholder[88]. - The company has established a performance evaluation system to enhance operational efficiency and accountability across all levels[82]. - The company maintains complete independence from its controlling shareholders in terms of business, personnel, assets, institutions, and finance[91]. - The company has established a dedicated internal audit department to oversee economic operation quality and internal control execution[92]. - The company has committed to resolving industry competition issues with its controlling shareholder through asset acquisitions and management agreements[93]. Shareholder Engagement - The company emphasizes investor relations management, organizing various communication activities such as annual report online briefings and investor visits[90]. - The company has designated specific media for information disclosure to ensure fair access to information for all investors[90]. - The company has a clear organizational structure with independent operation of the shareholders' meeting, board of directors, and management[92]. - The company has implemented measures to avoid competition with its controlling shareholder, including the planned acquisition of assets[94]. Employee Management - The total number of employees at the end of the reporting period was 2,540, with 56 in the parent company and 2,484 in major subsidiaries[121]. - The company has a complete human resources management system, ensuring independent personnel and compensation management[91]. - The company has conducted internal and external training programs to enhance employee management capabilities and professional skills, following a "2+2" training model[123]. - The company has a performance-based remuneration system for senior management, linking pay to the achievement of annual operational targets[107]. Environmental and Social Responsibility - The company promotes low-carbon and environmentally friendly practices in its operations, adhering to multiple environmental protection laws[133]. - The company actively engages in community support initiatives, including skills training and educational assistance, contributing to poverty alleviation efforts[137]. - The company has committed to transparent information disclosure, ensuring all shareholders have equal access to company information[134]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and user engagement[161]. - The company is considering strategic acquisitions to enhance its service portfolio, with a budget of 500 million yuan earmarked for potential targets[161]. - The management emphasized the importance of sustainability initiatives, committing to reduce carbon emissions by 25% over the next five years[162]. - The company aims to improve operational efficiency by 15% through the adoption of advanced analytics and automation technologies in its processes[162].

Revenue and Profitability - Revenue for the third quarter reached ¥370,745,938.34, an increase of 17.53% compared to the same period last year[3] - Net profit attributable to shareholders was -¥23,085,765.50, a decrease of 28.98% year-on-year[3] - Net profit excluding non-recurring gains and losses was -¥23,567,345.67, a decrease of 30.02% compared to the previous year[3] - Operating revenue for the current period reached CNY 1,006,648,961.67, an increase of approximately 36.9% compared to CNY 734,979,279.70 in the previous period[17] - The net profit for the third quarter of 2021 was -43,586,198.06 CNY, compared to -74,169,891.27 CNY in the same period last year, showing an improvement of approximately 41.2%[18] - Operating profit for the third quarter was -30,416,362.82 CNY, an improvement from -72,591,113.64 CNY year-over-year[18] - The total comprehensive income for the third quarter was -43,586,198.06 CNY, compared to -74,169,891.27 CNY in the previous year, reflecting a year-over-year improvement[18] - The basic and diluted earnings per share were both -0.0127 CNY, an improvement from -0.0311 CNY in the same quarter last year[18] Cash Flow and Investments - Operating cash flow for the year-to-date period increased by 192.12% to ¥360,281,620.75[3] - Cash flow from operating activities generated a net inflow of 360,281,620.75 CNY, a significant recovery from a net outflow of -391,081,259.67 CNY in the previous year[20] - Cash outflow from investing activities was -6,790,912.85 CNY, a reduction from -438,856,354.65 CNY in the previous year[21] - Cash outflow from financing activities was -660,220,705.29 CNY, compared to a net inflow of 463,284,262.67 CNY in the same quarter last year[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,886,675,075.02, a decrease of 13.90% from the end of the previous year[3] - Total current assets decreased to CNY 1,978,992,619.56 from CNY 2,901,771,468.95, representing a decline of about 31.7%[15] - Total liabilities decreased to CNY 2,285,596,891.56 from CNY 3,115,346,039.85, reflecting a decline of about 26.6%[16] - The company's total equity increased to CNY 2,601,078,183.46 from CNY 2,560,482,215.26, showing a slight increase of approximately 1.6%[17] - Total assets amounted to CNY 5,675,828,255.11, with current assets at CNY 2,901,771,468.95 and non-current assets at CNY 2,774,056,786.16[24] - Total liabilities reached CNY 3,115,346,039.85, with current liabilities at CNY 2,259,835,753.50 and non-current liabilities at CNY 855,510,286.35[25] Shareholders' Equity - Shareholders' equity attributable to the parent company was ¥2,401,751,980.15, down 1.21% from the previous year-end[3] - The company's total equity was CNY 2,560,482,215.26, with total equity attributable to shareholders of the parent company at CNY 2,431,244,517.04[26] - The company’s undistributed profits stood at CNY 1,161,894,762.73[26] Costs and Expenses - Operating costs increased by 43.02% year-to-date, primarily due to the rise in revenue[7] - Total operating costs increased to CNY 1,038,460,198.59 from CNY 798,364,970.14, marking an increase of around 30.1%[17] - Financial expenses decreased by 40.37% year-to-date, attributed to the repayment of loans and reduced financing scale[7] - The company reported a net loss from investments of CNY 2,940,076.60, an improvement compared to a loss of CNY 10,695,894.30 in the previous period[17] - The company incurred asset impairment losses of -260,645.72 CNY during the quarter[18] Inventory and Investments - Inventory at the end of the reporting period increased by 236.70% compared to the previous year-end, due to unrecognized costs for purchased raw materials[7] - Long-term equity investments increased by 81.96% year-to-date, due to additional investments in Zhaoqing Overseas Chinese Town Development Co., Ltd.[7] Borrowings - The company’s short-term borrowings decreased to CNY 422,940,648.77 from CNY 827,291,792.77, a reduction of about 48.9%[16] - Long-term borrowings were reported at CNY 607,000,000.00, down from CNY 788,000,000.00, indicating a decrease of approximately 22.9%[16] Audit Status - The third quarter report was not audited[28]

Financial Performance - The company achieved operating revenue of CNY 227,188,200.39, an increase of 5.24% compared to the same period last year[8]. - The net profit attributable to shareholders was CNY 4,018,082.13, a significant turnaround from a loss of CNY 27,159,172.19 in the previous year, representing a 114.79% increase[8]. - The net cash flow from operating activities was CNY 467,223,811.46, a substantial increase of 321.93% year-on-year[8]. - Basic and diluted earnings per share were CNY 0.0040, compared to a loss of CNY 0.0268 per share in the same period last year, marking a 114.93% improvement[8]. - The company reported a profit before tax of CNY -85,320, an increase of 97.66% compared to the same period last year[16]. - The estimated net profit attributable to shareholders for the period from the beginning of the year to the next reporting period is projected to be between CNY 15 million and CNY 22 million, representing a significant increase of approximately 1,319.38% to 1,981.76% compared to the same period last year[21]. - Basic earnings per share are expected to grow to between CNY 0.0148 and CNY 0.0217, reflecting an increase of approximately 1,380.00% to 2,070.00% year-on-year[21]. - The company anticipates increased operating revenue and total profit due to the easing of the COVID-19 pandemic and the smooth progress of major projects[21]. Cash Flow and Investments - Cash inflow from investment activities was CNY 87,213,500, an increase of 143.44% year-on-year[17]. - Cash outflow from financing activities was CNY 141,572,700, an increase of 34.46% compared to the previous year[17]. - As of March 31, 2021, cash and cash equivalents amounted to CNY 1,700,163,665.31, an increase from CNY 1,317,747,738.90 at the end of 2020[30]. - The company is planning to transfer 100% equity of a subsidiary, which is expected to generate an investment income of approximately CNY 68 million, pending shareholder approval[21]. - The company reported a significant increase in cash received from other operating activities, totaling ¥663,524,121.37 compared to ¥165,770,885.13 in the previous period, representing a growth of 299.5%[48]. - The cash outflow for investing activities was ¥42,998,913.79, down from ¥200,844,093.58, indicating a decrease of 78.6%[49]. - The net cash flow from investing activities was positive at ¥87,213,490.82, compared to a negative cash flow of ¥200,785,083.61 in the previous period[49]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,358,359,420.56, a decrease of 5.59% from the end of the previous year[8]. - Total current assets decreased to CNY 2,585,020,920.40 from CNY 2,901,771,468.95 at the end of 2020[31]. - Total liabilities decreased to CNY 2,804,625,432.48 from CNY 3,115,346,039.85 at the end of 2020[33]. - The total assets of the company as of March 31, 2021, were CNY 5,358,359,420.56, down from CNY 5,675,828,255.11 at the end of 2020[33]. - The company reported a decrease in accounts payable to CNY 268,369,034.40 from CNY 312,207,657.76 at the end of 2020[32]. - The company's total assets decreased to CNY 3,578,961,323.20 from CNY 4,011,099,972.50, a decline of about 10.8%[38]. - Total liabilities decreased to CNY 1,088,968,250.97 from CNY 1,515,646,563.83, a reduction of about 28.2%[38]. Operational Costs and Expenses - Total operating costs decreased to CNY 231,818,358.10 from CNY 251,054,770.34, representing a reduction of approximately 7.7%[40]. - The company reported a significant increase in interest expenses, rising to CNY 20,649,869.98 from CNY 9,964,790.58, an increase of approximately 107%[41]. - Research and development expenses increased to CNY 8,719,529.16 from CNY 7,880,429.73, reflecting a growth of about 10.7%[41]. - The company incurred financial expenses of ¥8,668,996.11, which increased from ¥5,112,153.86, reflecting a rise of 69.1%[44]. - The interest expenses for the current period were ¥9,611,585.39, up from ¥5,567,034.16, indicating a rise of 72.7%[44]. Quarterly Performance - Total operating revenue for Q1 2021 was CNY 227,188,200.39, an increase of 5.8% compared to CNY 215,866,759.79 in Q1 2020[40]. - Net profit for Q1 2021 was a loss of CNY 5,444,852.60, an improvement from a loss of CNY 41,188,143.34 in the same period last year[42]. - In Q1 2021, the net cash flow from financing activities was -133,834,167.33 CNY, compared to -279,119,298.06 CNY in the same period of 2020, indicating a 52% improvement year-over-year[52]. - The total cash and cash equivalents at the end of Q1 2021 amounted to 822,297,897.01 CNY, a significant increase from 104,582,031.00 CNY at the end of Q1 2020[52]. Other Information - The company focused on its strategic positioning as a "comprehensive service provider for all-domain tourism" during the reporting period[16]. - The first quarter report for 2021 was not audited[61]. - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[18]. - The company has implemented the new leasing standards starting January 1, 2021, which required adjustments to the financial statements[57].

Financial Performance - The company's operating revenue for 2020 was CNY 1,812,267,104.75, a decrease of 37.04% compared to CNY 2,878,663,131.76 in 2019[16] - The net profit attributable to shareholders of the listed company was CNY 159,333,591.72, an increase of 68.25% from CNY 94,700,448.85 in the previous year[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 99,667,181.11, a significant increase of 160.20% compared to a loss of CNY 165,553,648.58 in 2019[16] - Cash generated from operating activities was CNY 48,568,306.00, down 78.05% from CNY 221,297,651.37 in the previous year[16] - The company's total assets decreased by 8.33% year-on-year, amounting to ¥5,675,828,255.11 at the end of 2020[17] - The net profit attributable to shareholders was negative at -¥27,159,172.19 for 2020, compared to a profit of ¥28,216,006.88 in 2019[22] - The operating cash flow was negative at -¥210,531,610.98, indicating a decline in cash generation from operations[22] - Basic and diluted earnings per share increased by 68.34% to ¥0.1574 from ¥0.0935 in the previous year[17] - The company's net asset attributable to shareholders increased by 5.27% to ¥2,431,244,517.04 at the end of 2020[17] - The company reported a total revenue of ¥215,866,759.79 for 2020, down from ¥315,457,444.56 in 2019[22] Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.16 per 10 shares to all shareholders, based on a total of 1,012,434,813 shares[4] - In 2020, the cash dividend amount was CNY 16,198,957.01, representing 10.17% of the net profit attributable to ordinary shareholders[88] - The total cash dividend (including other methods) for 2020 was CNY 16,198,957.01, which accounted for 100% of the distributable profit[90] - The proposed cash dividend for 2020 is CNY 0.16 per 10 shares, based on a total share capital of 1,012,434,813 shares[92] - In 2019, the cash dividend amount was CNY 30,373,044.39, which was 32.07% of the net profit attributable to ordinary shareholders[88] - The cash dividend amount for 2020 was the lowest in the past three years[88] Risk Management and Compliance - The company does not foresee any major risk factors that could severely impact its production, operation, financial status, or sustainable profitability[4] - The company is committed to ensuring the accuracy and completeness of its financial reporting, as stated by its management team[3] - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[94] - The company has no ongoing legal disputes or significant civil litigation related to economic disputes[94] - The company is focused on ensuring compliance with relevant laws and regulations in its operational strategies[97] Strategic Focus and Market Position - The company is focused on expanding its market presence and enhancing its product offerings in the tourism sector[4] - The company continues to focus on becoming a comprehensive service provider in the tourism sector, enhancing its overall profitability through strategic collaboration across business segments[28] - The company is positioned within a growing tourism industry, benefiting from increasing consumer demand for diverse travel experiences[27] - The company plans to focus on becoming a comprehensive service provider in the tourism sector, enhancing its core business and reducing related party transactions[80] - The company intends to leverage its capital platform for mergers and acquisitions to enhance its market position and profitability[82] Asset Management and Investments - The company has undergone a change in accounting policy, which necessitated a retrospective adjustment of previous financial data[16] - The company has completed the design of the concept plan for the Kalle Town project and initiated management consulting services for several scenic areas[35] - The company has made adjustments to project planning and design, which have been approved by the municipal planning committee[68] - The company has committed to purchasing the assets of Jiaozi Mountain Company once land issues are resolved, with plans to inject these assets into the listed company[96] - The company has completed the transfer of equity related to the acquisition of Yunnan World Dinosaur Valley Tourism Co., Ltd[115] Shareholder Structure and Governance - The total number of shares is 1,012,434,813, with 27.82% being restricted shares and 72.18% being unrestricted shares[169] - The largest shareholder, Yunnan Expo Tourism Holding Group Co., Ltd., holds 35.74% of shares, totaling 361,883,986 shares[172] - The second largest shareholder, Overseas Chinese Town Group Co., Ltd., holds 18.14% of shares, totaling 183,679,720 shares[172] - The company has a diverse board with members holding various professional backgrounds, including finance, law, and engineering[187] - The company has maintained a stable management team with no changes in senior management positions reported[186] Employee Management and Development - The total number of employees in the company is 3,178, with 62 in the parent company and 3,116 in major subsidiaries[195] - The company has established an annual training plan and budget to enhance management capabilities and professional skills of employees[197] - The training model adopted is a "2+2" approach, combining internal and external training to improve overall employee quality[197] - The remuneration system for senior management is based on performance indicators and aims to align incentives with contributions[196] Related Party Transactions - The total amount of related party transactions for the year is 312.3482 million CNY, with the largest single transaction being 88.5636 million CNY for design services provided by Zhaoqing Overseas Chinese Town[135] - The company has provided guarantees totaling CNY 1,129,115,412.54 for various related parties, with some guarantees still outstanding[143] - The company aims to focus on its core tourism business and reduce related party transactions to enhance its independence and profitability[137] - The company has disclosed significant related party transactions on the Cninfo website, ensuring transparency[144] Performance Commitments - The company has made performance commitments for the years 2020, 2021, and 2022, with minimum net profit targets of CNY 35 million, CNY 1,092 million, and CNY 2,488 million respectively, totaling CNY 3,615 million[121] - The performance compensation obligations are structured to ensure accountability among shareholders, with specific profit targets outlined for compliance[117] - The company reported a commitment to ensure that the injected equity of Jiangnan Garden into Yunnan Tourism is free from any pledges, mortgages, or legal disputes[101] Legal and Regulatory Compliance - The company has not faced any administrative or criminal penalties related to the securities market in the past five years[109] - The company has committed to providing timely and accurate information to the securities service institutions involved in the transaction[110] - The company will bear joint liability for any losses caused to investors due to false or misleading information in the transaction disclosures[110]

Financial Performance - Operating revenue for the reporting period was CNY 315,457,444.56, representing a decline of 46.65% year-on-year [8]. - Net profit attributable to shareholders was a loss of CNY 32,505,432.70, a decrease of 217.94% compared to the same period last year [8]. - Basic earnings per share were -0.0321 CNY, a decrease of 218.01% year-on-year [8]. - The company reported a significant increase in non-recurring losses, with a net profit attributable to shareholders after deducting non-recurring gains and losses decreasing by 288.80% [8]. - The total profit for the same period was CNY -71.93 million, down 189.13% year-on-year, and the net profit attributable to shareholders was CNY -31.45 million, a decline of 150.73% [16]. - The net profit for Q3 2020 was a loss of CNY 74,169,891.27, compared to a profit of CNY 60,150,251.12 in Q3 2019, indicating a significant decline in profitability [52]. - The total comprehensive income for Q3 2020 was also a loss of CNY 74,169,891.27, contrasting with a gain of CNY 60,150,450.14 in the previous year [56]. Cash Flow - The net cash flow from operating activities was CNY 73,723,969.25, a significant improvement compared to the negative cash flow of CNY -112,887,175.62 in the previous year [8]. - The net cash flow from operating activities was CNY -391.08 million, a decrease of 371.16% year-on-year, primarily due to the impact of the pandemic on revenue [17]. - The net cash flow from financing activities was 463,284,262.67 CNY, a turnaround from -327,446,198.48 CNY in the previous year, primarily due to increased borrowings of 681,460,000.00 CNY [59]. - The net cash flow from operating activities for the year-to-date was -517,849,483.51 CNY, worsening from -121,579,205.23 CNY in the same period last year [60]. - The cash flow from operating activities decreased to CNY 1,600,045,480.74 in Q3 2020, down from CNY 2,674,116,923.59 in the same quarter last year [57]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,180,795,059.09, a decrease of 0.17% compared to the end of the previous year [8]. - Long-term equity investments decreased from CNY 2,476,053,083.73 at the end of 2019 to CNY 2,000,853,083.73 as of September 30, 2020, reflecting a decline of 19.2% [39]. - Current liabilities totaled CNY 2,731,028,095.29, a decrease of 4.3% from CNY 2,854,801,468.74 in the previous year [35]. - Non-current liabilities increased to CNY 997,410,159.15 from CNY 781,456,523.68, representing a growth of 27.7% [35]. - The total liabilities amounted to CNY 3,636,257,992.42, a decrease of CNY 12,179,445.79 compared to the previous period [67]. - The total owner's equity reached CNY 2,555,349,292.42, reflecting a decrease of CNY 6,344,969.39 from the prior period [67]. Shareholder Information - The total number of shareholders at the end of the reporting period was 40,333 [12]. - The largest shareholder, Yunnan Expo Tourism Holding Group Co., Ltd., held 35.74% of the shares [12]. Financial Adjustments and Standards - The company has adjusted its financial statements in accordance with new revenue and leasing standards, impacting various asset and liability accounts [63]. - The company has implemented new revenue recognition standards effective from January 1, 2020, impacting the financial reporting [67]. - The company has not adjusted the comparative data for prior periods due to the implementation of the new revenue standards starting January 1, 2020 [73]. Legal and Other Matters - The company is involved in a lawsuit regarding the performance of an asset purchase agreement, which is currently in the evidence examination stage [18]. - The company has not engaged in any repurchase transactions during the reporting period [13]. - The company has not engaged in any securities or derivative investments during the reporting period [21][22]. Research and Development - Research and development expenses were CNY 7,787,379.46, slightly up from CNY 7,325,289.65, indicating a focus on innovation [46]. - Research and development expenses for Q3 2020 were CNY 23,564,073.05, an increase from CNY 21,478,610.22 in Q3 2019, indicating a focus on innovation despite financial losses [54].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥419,521,835.14, a decrease of 58.29% compared to the same period last year[15]. - The net profit attributable to shareholders was ¥1,056,834.69, representing a decline of 96.93% year-on-year[15]. - The net cash flow from operating activities was -¥464,805,228.92, a decrease of 280.62% compared to the previous year[15]. - Basic and diluted earnings per share were both ¥0.001, down 97.06% from the previous year[15]. - The company achieved operating revenue of 419.52 million yuan, with a net profit attributable to shareholders of 1.06 million yuan[28]. - The company's operating revenue for the reporting period was approximately ¥419.52 million, a decrease of 58.29% compared to ¥1,005.86 million in the same period last year, primarily due to the impact of the pandemic[32]. - The operating cost decreased by 61.26% to ¥320.28 million from ¥826.68 million, attributed to the pandemic's effect and a reduction in labor costs[32]. - The company reported a net cash flow from operating activities of -¥464.81 million, a decline of 280.62% compared to ¥257.34 million in the previous year, mainly due to reduced operating revenue[32]. - The company expects a cumulative net profit of -50 million CNY for the period from January to September 2020, a decrease of 180.66% compared to the previous year[60]. - Basic earnings per share are projected to be -0.0494 CNY, down from 0.0612 CNY in the same period last year, reflecting a decline of 180.66%[60]. - The significant decline in revenue and profit is attributed to the impact of the COVID-19 pandemic, with expected decreases in operating income and net profit attributable to shareholders compared to the previous year[60]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,887,602,225.08, a decrease of 4.91% from the end of the previous year[15]. - Cash and cash equivalents decreased by 382 million yuan, a decline of 30.78%, primarily due to financial support provided to joint ventures and corporate income tax payments[23]. - Accounts receivable decreased by 391 million yuan, a decline of 43.40%, due to reclassification adjustments according to new revenue standards and ongoing collection efforts[23]. - Inventory decreased by 827 million yuan, a decline of 73.29%, with the reduction attributed to reclassification under new revenue standards; excluding this impact, inventory increased due to ongoing operations[23]. - Contract assets increased by 691 million yuan, a growth of 100%, as a result of reclassification under new revenue standards[23]. - Other non-current assets increased by 598 million yuan, a growth of 280.58%, due to reclassification of project payments not yet recognized by owners[23]. - Cash and cash equivalents at the end of the reporting period amounted to ¥858,035,300.48, representing 14.57% of total assets, a decrease of 2.65% compared to the previous year[40]. - Accounts receivable decreased to ¥509,663,088.42, accounting for 8.66% of total assets, down 4.56% year-on-year[40]. - Inventory decreased significantly to ¥301,442,777.62, representing 5.12% of total assets, a decline of 9.28% due to reclassification adjustments under new revenue standards[40]. - Fixed assets increased to ¥1,203,199,659.30, making up 20.44% of total assets, an increase of 7.90% attributed to the transfer of the Dinosaur Valley Phase II construction project to fixed assets[40]. - Short-term borrowings rose to ¥748,124,100.00, representing 12.71% of total assets, an increase of 7.96% due to new short-term borrowings[40]. - Long-term borrowings increased to ¥819,000,000.00, accounting for 13.91% of total assets, up 6.58% due to new long-term borrowings[40]. - The total amount of loans from related parties is approximately CNY 320.10 million, with interest rates ranging from 5.00% to 8.00%[79]. - The total amount of loans to related parties is approximately CNY 274.17 million, with interest rates between 5.00% and 6.00%[79]. Strategic Initiatives - The company focuses on becoming a "comprehensive service provider for all-domain tourism," enhancing overall profitability through strategic collaboration and resource sharing across business segments[22]. - The company emphasizes technological innovation in cultural tourism projects and high-tech amusement equipment, establishing a full industry chain advantage[24]. - The company has implemented targeted marketing activities to adapt to post-pandemic consumer behavior, enhancing visitor experiences and optimizing commercial offerings[28]. - The company leverages its capital operation platform to integrate quality tourism resources and enterprises, driving industry development through capital operations[25]. - The company plans to implement marketing promotions, product innovations, and service enhancements to mitigate the pandemic's impact[61]. Project Developments - The company signed a cooperation contract for the Huangshi Garden Expo Park upgrade project worth approximately ¥3 billion, aimed at ensuring continuous revenue growth[32]. - The project for the Yunnan Travel Service Center has reached an investment progress of 81.60% but has not met the planned progress due to land occupation issues[49]. - The company has completed 30% of the secondary structure brick masonry for the basement, along with the necessary electrical, fire protection, and civil defense engineering work[50]. - The construction of the project's basement structure was completed, with the tower reaching the twelfth floor and the podium reaching the fourth floor by the end of June 2020[50]. Shareholder Information - The total number of shares is 1,012,434,813, with 72.18% being unrestricted shares[102]. - The largest shareholder, Yunnan Expo Tourism Holding Group, holds 35.74% of shares, totaling 361,883,986 shares[105]. - The second largest shareholder, Overseas Chinese Town Group, holds 18.14% of shares, totaling 183,679,720 shares[105]. - The company has not distributed cash dividends or bonus shares for the half-year period[64]. Risks and Challenges - The company faced significant risks in its future operations, which are detailed in the report[5]. - The company reported a significant risk from the COVID-19 pandemic, which has severely impacted the tourism and hospitality sectors[61]. - The company faces increasing market competition, with a growing number of competitors potentially eroding its traditional competitive advantages[61]. Compliance and Governance - The company has not reported any significant changes in project feasibility or any unutilized fundraising amounts as of the reporting date[52]. - The company has not experienced any major litigation or arbitration matters during the reporting period[68]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[74]. - The company has not implemented any employee incentive plans during the reporting period[72]. - The company has not faced any penalties or corrective actions during the reporting period[70]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[84]. - The company does not have any violations regarding external guarantees during the reporting period[92]. Financial Reporting - The financial report for the first half of 2020 was not audited[117]. - The company has maintained a consistent capital structure with no significant changes in debt levels reported[144]. - The overall financial health of the company appears stable, with a focus on maintaining equity growth and managing reserves effectively[144]. - Future strategies may include further capital contributions and potential expansions, although specific plans were not detailed in the report[144].