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's operating revenue for the first half of 2021 was CNY 635,903,023.33, representing a 51.58% increase compared to CNY 419,521,835.14 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 10,181,381.59, a significant increase of 863.38% from CNY 1,056,834.69 in the previous year[21]. - Basic earnings per share increased to CNY 0.0101, up 910.00% from CNY 0.001 in the previous year[21]. - The total operating revenue for the tourism comprehensive service segment was CNY 217,029,735.81, a decrease of 8.86% year-over-year[38]. - The tourism cultural technology segment reported operating revenue of CNY 371,165,095.92, an increase of 135.22% year-over-year[38]. - The main business revenue reached CNY 628,002,462.14, reflecting a year-over-year increase of 59.24%[38]. - The total operating profit for the first half of 2021 was 1,842,719.77 CNY, compared to a loss of 29,360,471.96 CNY in the same period of 2020[122]. - The net profit for the first half of 2021 was -8,551,383.38 CNY, an improvement from a net loss of -28,063,448.29 CNY in the first half of 2020[122]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 423,217,318.52, improving by 191.05% compared to a negative cash flow of CNY -464,805,228.92 in the same period last year[21]. - The cash and cash equivalents net increase was ¥-139,204,183.34, an improvement of 66.38% from ¥-414,006,639.94 in the previous year[34]. - The operating cash flow for the first half of 2021 was 423,217,318.52 CNY, a significant recovery from -464,805,228.92 CNY in the same period of 2020[129]. - The ending balance of cash and cash equivalents as of the end of June 2021 was ¥368,275,394.26, compared to ¥204,125,425.27 at the end of June 2020, representing an increase of approximately 80.2%[133]. - The total cash inflow from operating activities reached ¥764,524,525.43, up from ¥235,421,151.18 in the first half of 2020, indicating a growth of approximately 224%[132]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,056,790,421.59, a decrease of 10.91% from CNY 5,675,828,255.11 at the end of the previous year[21]. - The company's total current assets as of June 30, 2021, amounted to 2,164,984,936.44 yuan, a decrease from 2,901,771,468.95 yuan at the end of 2020[112]. - The total liabilities decreased to CNY 2,505.64 million from CNY 3,115.35 million, showing a reduction in financial obligations[115]. - The company's long-term equity investments increased to CNY 510,983,030.06, up 5.15% from the previous year due to additional investments[43]. - Short-term borrowings decreased by 6.32% to CNY 417,914,760.40, primarily due to repayment of bank loans[43]. Investment and R&D - The company’s research and development investment increased by 22.05% to ¥19,256,087.96 from ¥15,776,693.59[34]. - The company invested CNY 235,210,000.00 during the reporting period, marking a 100% increase compared to the previous year[46]. - Research and development expenses increased to CNY 19.26 million, up from CNY 15.78 million, highlighting a focus on innovation[121]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The total number of shares is 1,012,434,813, with 27.82% being limited shares and 72.18% being unrestricted shares[97]. - The total equity at the end of the period was CNY 2,482,458,787.93, showing a decrease from the previous year's total equity of CNY 2,861,779,389.74[146]. - The company has maintained its share capital at CNY 1,012,434,813.00, indicating stability in its equity structure[145]. Risks and Compliance - The company faced no significant risks that could adversely affect its production, operation, financial status, or sustainable profitability[5]. - The company has identified risks including market competition, management challenges, and the impact of natural disasters[53]. - The company has maintained compliance with environmental regulations and has not faced any administrative penalties related to environmental issues[62]. - The semi-annual financial report has not been audited[69]. Strategic Initiatives - The company aims to enhance its brand influence through its strategic positioning as a "comprehensive service provider for all-domain tourism"[32]. - The company has established a comprehensive tourism industry chain, leveraging its advantages in Yunnan province's rich natural and cultural resources[31]. - The company plans to focus on enhancing its marketing strategies and product innovation to mitigate the impact of COVID-19 on its operations[53].

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].

Financial Performance - The company reported a revenue of ¥215,866,759.79 for Q1 2020, a decrease of 51.22% compared to ¥442,504,503.17 in the same period last year[8] - The net profit attributable to shareholders was -¥27,159,172.19, representing a decline of 1,622.34% from a profit of ¥1,784,041.12 in the previous year[8] - The net cash flow from operating activities was -¥210,531,610.98, a significant drop of 157.65% compared to ¥365,219,174.62 in the prior year[8] - Basic and diluted earnings per share were both -¥0.0268, a decrease of 1,588.89% from ¥0.0018 in the same quarter last year[8] - The company experienced a total loss of ¥3,653.09 million in profit, a decline of 667.63% compared to a profit of ¥643.57 million in the same period last year[15] - The decline in revenue and profits was primarily attributed to the impact of the COVID-19 pandemic on the company's operations[15] - The company expects a negative net profit for the first half of 2020, indicating ongoing challenges in revenue generation due to external factors.[19] - Net profit for Q1 2020 was a loss of CNY 41,188,143.34, down from a profit of CNY 1,790,113.75 in the previous period[42] - The net profit for the current period is -6,015,789.15, compared to -4,643,200.89 in the previous period, indicating a worsening of approximately 29.5%[46] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,662,970,797.23, down 8.54% from ¥6,191,607,284.84 at the end of the previous year[8] - The total assets as of March 31, 2020, were 5.66 billion yuan, down from 6.19 billion yuan at the end of 2019.[32] - The total liabilities as of March 31, 2020, were 3.15 billion yuan, a decrease from 3.64 billion yuan at the end of 2019.[33] - The company's total equity as of March 31, 2020, was CNY 2,855,763,600.59, slightly down from CNY 2,861,779,389.74[38] - The total liabilities of the company were CNY 3,636,257,992.42 as of March 31, 2020[55] - The company's total equity was CNY 2,555,349,292.42, with a total of CNY 2,309,451,883.52 attributable to the parent company[55] Cash Flow - The net cash flow from operating activities for the reporting period was -210.53 million yuan, a decrease of 157.65% compared to the same period last year, primarily due to the previous year's receipt of 420 million yuan from Yunnan Expo Xingyun Real Estate Co., Ltd.[17] - The net cash flow from investing activities was -200.79 million yuan, a decrease of 138.44% year-on-year, mainly due to the previous year's receipt of 607 million yuan from the disposal of equity in Yunnan Expo Xingyun Real Estate Co., Ltd.[17] - The net cash flow from financing activities was -216.02 million yuan, a decrease of 260.44% compared to the same period last year, primarily due to the repayment of part of the existing loans during the reporting period.[17] - Cash flow from operating activities shows a net outflow of -210,531,610.98, a significant decline from a net inflow of 365,219,174.62 in the previous period[47] - The cash flow from investing activities resulted in a net outflow of -200,785,083.61, compared to a net inflow of 522,303,023.00 in the previous period[49] - The company's cash and cash equivalents decreased significantly to CNY 104,582,031.00 from CNY 456,038,405.03[35] - Total cash and cash equivalents at the end of the period decreased to 580,074,954.23 from 1,960,740,718.83, a drop of approximately 70.5%[49] Shareholder Information - The company had a total of 34,662 common shareholders at the end of the reporting period[12] - The largest shareholder, Yunnan Expo Tourism Holding Group Co., Ltd., held 35.74% of the shares, totaling 361,883,986 shares[12] Operational Insights - The company has not reported any significant new strategies, product developments, or market expansions during the reporting period.[18] - The company has not disclosed any new product developments or market expansion strategies in the current report[45] - Research and development expenses were not specified in the current report, indicating a potential area for future focus[45] - The company has adopted new revenue and leasing standards starting January 1, 2020, impacting the presentation of contract assets and liabilities[56] - The company has not undergone an audit for the Q1 2020 report, which may affect the reliability of the financial data presented[60]

Financial Performance - In 2019, the company's operating revenue was CNY 2,878,663,131.76, a decrease of 2.52% compared to CNY 2,952,954,895.45 in 2018[17] - The net profit attributable to shareholders was CNY 94,700,448.85, representing an 84.13% decline from CNY 596,684,766.85 in the previous year[17] - Basic earnings per share decreased by 85.67% to CNY 0.0935 from CNY 0.6668 in the previous year[18] - The company’s net profit attributable to shareholders for the year was CNY 2,309,451,883.52, down 5.96% from CNY 2,455,712,596.06 in the previous year[18] - The total profit for the year was 16,614 million CNY, down 82.89% compared to the previous year[36] - Net profit attributable to shareholders was CNY 32,708,767.90 in Q4 2019, showing a significant increase compared to CNY 1,693,655.76 in Q1 2019[22] - The company reported a significant reduction in financial expenses by 53.06%, totaling CNY 23,715,781.14, due to timely repayment of bank loans[51] - The company’s main operating business revenue decreased by 3.00% to CNY 2,845,006,136.08, with a gross profit margin of 17.25%[44] - The company achieved a revenue of approximately CNY 1.45 billion, with a net profit of CNY 252.63 million, reflecting a significant performance in the tourism sector[81] Cash Flow and Investments - The cash flow from operating activities increased significantly to CNY 221,297,651.37, a 428.99% increase compared to CNY 68,998,934.50 in 2018[17] - The company reported a net cash flow from operating activities of CNY 77,074,831.16 in Q4 2019, recovering from negative cash flows in Q2 and Q3[22] - The net cash flow from operating activities increased to ¥221.30 million in 2019, compared to a negative ¥67.27 million in 2018, representing a 428.99% increase[53] - The net cash flow from investment activities improved to ¥218.27 million in 2019, up from a negative ¥334.56 million in 2018, marking a 165.24% increase[54] - The total cash inflow from financing activities decreased by 33.89% to ¥1.61 billion in 2019, down from ¥2.43 billion in 2018[54] - The company has obtained a total of 8 billion CNY in registered short-term financing and medium-term notes to optimize its funding structure[38] Strategic Acquisitions and Business Expansion - The company acquired 100% equity of Yunnan Expo International Travel Co., Ltd. and 63.25% equity of Yunnan World Dinosaur Valley Tourism Co., Ltd. during the reporting period[22] - The company is focusing on integrating tourism resources and enhancing operational efficiency through the acquisition of 100% equity in cultural tourism technology[36] - The company expanded its market presence by entering new locations such as Wuhan and Xiangyang, enhancing its national layout[37] - The company is pursuing acquisitions to strengthen its core business and expand its operational scale, enhancing its overall business structure[84] - The company plans to invest in the development and management of theme parks and cultural projects, indicating a focus on market expansion[141] Risk Management and Compliance - The company has not identified any significant risk factors that could adversely affect its operational and financial status[5] - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[4] - The company recognizes market competition risks due to the increasing number of competitors in the tourism industry, which may impact its traditional competitive advantages[86] - The company anticipates challenges from external factors such as natural disasters and pandemics, which could significantly affect its operations[87] - The company is committed to transparency and adherence to regulations regarding related party transactions and information disclosure[103] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.3 per 10 shares, totaling approximately CNY 30,372,000 based on 1,012,434,813 shares[5] - The total cash dividend amount for 2019 is RMB 30,373,044.39, which represents 32.07% of the net profit attributable to the company's ordinary shareholders[93] - The cash dividend for 2018 was RMB 48,963,098.35, accounting for 8.21% of the net profit attributable to the company's ordinary shareholders[93] - The company has maintained a consistent cash dividend policy over the past three years[92] - The company has not proposed any stock bonus shares for the year 2019[94] Corporate Governance and Management - The company has retained its major shareholder structure without any changes[15] - The company has not sold any major assets during the reporting period, maintaining its asset base intact[77] - The company has a structured approach to determining the remuneration of directors and senior management, requiring approval from the board and shareholders[196] - The company has a performance-based remuneration system for senior management, linking pay to the achievement of annual operational targets[196] - The company has established a long-term strategy to optimize its corporate governance structure and improve financial performance[105] Legal and Regulatory Compliance - The company has not faced any legal obstacles regarding the transfer of assets or ownership disputes related to its tourism assets[104] - The company has not reported any penalties or rectification measures during the reporting period, suggesting adherence to regulatory standards[131] - The company guarantees that the shares held are legally owned and free from any encumbrances or disputes[112] - The company has confirmed that there are no ongoing legal disputes that could affect the ownership of the shares[112] Employee and Workforce Information - The total number of employees in the company is 2,646, with 3,773 employees receiving salaries during the reporting period[199] - The educational background of employees includes 75 with postgraduate degrees, 841 with bachelor's degrees, 821 with associate degrees, and 909 with secondary vocational education or below[200] - The total remuneration for directors and senior management during the reporting period amounted to 1,159.42 million yuan[198] - The management team includes several key positions such as the CFO, who has been in the role since November 2017[195]

Financial Performance - Net profit attributable to shareholders was CNY 28,397,367.12, down 53.13% from CNY 60,586,840.12 in the same period last year[9] - Operating revenue for the reporting period was CNY 581,565,084.35, representing a decrease of 3.51% compared to the previous year[9] - Basic earnings per share were CNY 0.0280, a decline of 53.26% from CNY 0.0599 in the same period last year[9] - Total profit for the period was CNY 8,314.29 million, down 53.70% year-on-year, while net profit attributable to shareholders was CNY 6,327.97 million, a decline of 41.83%[17] - The estimated net profit for 2019 is projected to be between CNY 14,000 million and CNY 35,000 million, representing a year-on-year decline of over 50%[22] - The net profit for the third quarter was CNY 31,303,367.09, compared to CNY 60,950,543.49 in the same period last year, indicating a decline of about 48.7%[41] - The total profit for the third quarter was CNY 38,509,160.92, compared to CNY 76,590,865.29 in the previous year, a decrease of about 49.7%[41] - The net profit for the third quarter was CNY 62,675,861.28, down 51.0% from CNY 127,767,831.82 in the same period last year[49] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,402,493,133.38, a decrease of 13.55% compared to the previous year[9] - As of September 30, 2019, total assets amounted to CNY 4,402,493,133.38, down from CNY 5,092,690,051.27 at the end of 2018[30] - Current assets totaled CNY 2,656,278,817.24, a decrease from CNY 3,500,441,801.38 in the previous year[30] - The company reported a decrease in total liabilities to CNY 695,475,168.22 from CNY 842,479,672.62, indicating a reduction in financial obligations[36] - The company’s equity attributable to shareholders was CNY 2,333,359,234.48, slightly down from CNY 2,339,011,770.68, indicating stability in shareholder value[32] Cash Flow - The net cash flow from operating activities was negative CNY 112,887,175.62, a decrease of 15.01% compared to the previous year[9] - Net cash flow from operating activities increased by 842.45% to CNY 14,686.02 million, primarily due to the recovery of funds from a disposed subsidiary[17] - The cash flow from operating activities was CNY 1,557,670,686.12, compared to CNY 1,645,889,858.62 in the previous period[55] - The total cash inflow from investment activities was ¥607,659,828.12, while cash outflow was ¥397,078,952.87, resulting in a net cash flow of ¥210,580,875.25, compared to a negative cash flow of ¥449,420,321.31 in the previous year[57] - The total cash and cash equivalents at the end of Q3 2019 stood at ¥796,035,954.86, down from ¥875,846,890.27 at the end of Q3 2018[57] Shareholder Information - The total number of shareholders at the end of the reporting period was 30,909[13] - The largest shareholder, Yunnan Expo Tourism Holding Group Co., Ltd., held 35.74% of the shares[13] - The company did not engage in any repurchase transactions during the reporting period[14] Operating Costs and Expenses - Total operating costs increased to CNY 555,124,259.93, up 4.6% from CNY 530,542,632.45 year-on-year[39] - The total operating costs for the third quarter were CNY 4,676,019.10, down from CNY 5,370,819.95 in the previous year, indicating a decrease of approximately 12.9%[43] - The company incurred financial expenses of CNY 13,453,652.66, a decrease from CNY 42,489,895.28 in the previous year[52] Investment and Acquisitions - The company plans to acquire 100% equity of Shenzhen Overseas Chinese Town Cultural Tourism Technology Co., Ltd. through a share issuance and cash payment, with 281,642,237 new shares issued[19] - The investment income from joint ventures and associates was a loss of CNY 23,665.34, compared to a profit of CNY 187,567.97 in the previous year[41] Research and Development - Research and development expenses were CNY 7,325,289.65, up from CNY 6,386,124.28, reflecting ongoing investment in innovation[39] Other Financial Metrics - The weighted average return on net assets was 1.22%, down from 3.51% in the same period last year[9] - The company reported a significant reduction in short-term borrowings, which decreased from CNY 773,120,000.00 to CNY 178,020,000.00[30] - The company has a significant amount of other receivables totaling CNY 770,024,999.06, which may impact cash flow management[34]

Financial Performance - The company's operating revenue for the reporting period was CNY 992,676,611.89, a decrease of 15.47% compared to the previous year[16]. - The net profit attributable to shareholders was CNY 34,882,375.01, down 27.62% from the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY -29,357,343.31, reflecting a significant decline of 6,027.14%[16]. - Basic earnings per share were CNY 0.0345, a decrease of 27.52% compared to the previous year[16]. - The company's total revenue for the reporting period was approximately ¥992.68 million, a decrease of 15.47% compared to the previous year's ¥1,174.41 million[38]. - Operating costs were ¥815.84 million, down 7.19% from ¥879.06 million in the same period last year[38]. - The company reported a significant reduction in financial expenses by 78.98% to ¥5.91 million, attributed to a decrease in bank borrowings[38]. - The company reported a net profit of 2,376 million yuan from the sale of Yunnan Expo Xingyun Real Estate Co., Ltd. in the previous year, which impacted the current period's profit[72]. - The net profit for the first nine months of 2019 is expected to be between 5,000 and 10,000 million yuan, representing a year-on-year decline of over 50%[72]. - The company anticipates a net profit decrease of 74% to an increase of 11% for the third quarter of 2019 compared to the same period last year[72]. Cash Flow and Investments - The net cash flow from operating activities increased by 231.42% to CNY 259,747,357.72[16]. - The net cash flow from investing activities was CNY 404,045,179.27, a significant improvement from a net outflow of CNY 410,224,885.26 in the first half of 2018[148]. - The total cash inflow from financing activities was CNY 744,406,800.00, down from CNY 1,249,946,400.00 in the previous year[148]. - The company reported an investment loss of CNY 4,695,974.45, compared to a gain of CNY 704,635.38 in the same period of 2018[140]. - The company raised CNY 20,206,800.00 from new investments in the first half of 2019, compared to CNY 13,826,400.00 in the same period of 2018[148]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,307,368,266.60, a decrease of 15.42% from the previous year[16]. - The company's total liabilities decreased to CNY 1,841,314,680.76 from CNY 2,608,653,660.25, representing a reduction of about 29.4%[132]. - Cash and cash equivalents increased to CNY 838,411,469.65 from CNY 834,428,065.63, showing a marginal increase of about 0.3%[129]. - Accounts receivable rose to CNY 693,958,305.13 from CNY 654,298,232.07, marking an increase of approximately 6.1%[129]. - The total amount of raised funds is CNY 12,757.3 million, with CNY 4,561.83 million cumulatively invested by June 30, 2019[58]. Strategic Initiatives and Market Position - The company launched new marketing strategies for its hotel business, including a member-exclusive pricing system and outdoor family activities, enhancing revenue generation[32]. - The company’s strategic positioning as a "comprehensive tourism service provider" is aimed at enhancing its brand influence and market presence[28]. - The company has established a strong capital operation platform to integrate quality tourism resources and promote industry development[28]. - The company aims to build a closed-loop tourism service industry chain to enhance operational efficiency across its various business segments[71]. - The company is actively expanding its market presence with new projects in the garden and horticulture sector, including multiple regional initiatives[33]. Acquisitions and Restructuring - The company completed a major asset restructuring by acquiring 100% equity of Shenzhen Overseas Chinese Town Cultural Tourism Technology Co., Ltd., injecting a new profit model into the company[35]. - The company acquired 100% equity of Yunnan Expo International Travel Agency Co., Ltd. and 100% equity of Shenzhen Overseas Chinese Town Cultural Tourism Technology Group Co., Ltd. during the reporting period[25]. - The company completed several acquisitions, including a 100% stake in a travel agency, enhancing its market presence[53]. - The company issued 281,642,237 new shares to acquire 100% equity of Shenzhen Overseas Chinese Town Cultural Tourism Technology Co., Ltd.[102]. Risks and Challenges - The company faces potential risks in future operations, which are detailed in the report[5]. - The company has identified management risks related to the integration of its diversified operations across the tourism industry[73]. - The company is facing increased market competition due to the lowering of industry barriers and the influx of capital into the tourism sector[73]. Corporate Governance and Compliance - The half-year financial report has not been audited[79]. - The company has not reported any ongoing significant non-equity investments during the reporting period[55]. - The company has not faced any penalties or rectification issues during the reporting period[83]. - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[84]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 30,407[113]. - Yunnan Expo Tourism Holdings Group Co., Ltd. holds 49.52% of the shares, amounting to 361,883,986 shares[113]. - The company’s major shareholders include Yunnan Expo Advertising Co., Ltd. with 5.50% ownership, amounting to 40,159,000 shares[113]. - The company’s actual controller and major shareholder did not change during the reporting period[116].