Financial Performance - The company's operating revenue for Q3 2021 was ¥109,765,233.56, a decrease of 29.25% compared to the same period last year[3] - The net profit attributable to shareholders was -¥12,151,505.03, representing a decline of 111.84% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥12,385,639.49, down 172.01% compared to the previous year[3] - Basic earnings per share were -¥0.07, a decrease of 109.46% year-on-year[3] - The operating profit for the quarter was CNY 25,037,068.47, significantly up from CNY 3,381,950.88 in the previous year[19] - The net profit for the quarter was a loss of CNY 2,537,462.98, an improvement from a loss of CNY 12,615,111.02 in the same period last year[19] Revenue and Costs - The total operating revenue for the third quarter was CNY 360,926,061.83, an increase of 42.9% compared to CNY 252,547,034.08 in the same period last year[18] - The total operating costs decreased to CNY 330,843,425.08 from CNY 348,946,346.46, representing a reduction of 5.0%[18] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥78,092,571.16, an increase of 719.38%[3] - Operating cash flow increased significantly to ¥78,092,571.16 from ¥9,530,653.57, representing a growth of over 718% year-on-year[22] - Cash inflow from operating activities totaled ¥374,679,095.15, up from ¥281,371,751.79, indicating a rise of approximately 33%[22] - Cash outflow for operating activities was ¥296,586,523.99, compared to ¥271,841,098.22, reflecting an increase of about 9%[22] - Investment activities resulted in a net cash outflow of ¥95,758,776.91, a decline from a net inflow of ¥43,707,795.68 in the previous period[22] - Cash inflow from financing activities was ¥495,824,475.56, up from ¥415,840,000.00, marking an increase of approximately 19%[23] - Cash outflow for financing activities totaled ¥500,615,460.68, compared to ¥475,075,761.70, which is an increase of about 5%[23] - The net cash flow from financing activities was negative at -¥4,790,985.12, an improvement from -¥59,235,761.70 in the previous period[23] - The ending cash and cash equivalents balance was ¥566,580,783.72, compared to ¥324,415,153.99, showing a significant increase of approximately 75%[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,740,527,037.64, an increase of 1.01% from the end of the previous year[3] - The total liabilities increased to CNY 1,292,429,839.80 from CNY 1,216,364,190.46, marking a rise of 6.3%[17] - The total equity attributable to shareholders decreased to CNY 1,395,016,602.12 from CNY 1,445,849,465.14, a decline of 3.5%[17] - Current assets total CNY 653,781,601.55, compared to CNY 633,342,866.14 at the end of 2020, reflecting a growth of approximately 3.4%[15] - Short-term borrowings increased to CNY 488,000,000.00 from CNY 384,240,000.00, representing a rise of about 27.1%[15] - The total liabilities amounted to CNY 1,216,364,190.46, an increase of CNY 48,959,906.72 compared to the previous period[26] - Non-current liabilities totaled CNY 535,405,536.62, reflecting an increase of CNY 42,430,061.63[26] - Current liabilities reached CNY 680,958,653.84, showing an increase of CNY 6,529,845.09[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,245[9] - The largest shareholder, Wuhan Contemporary Urban Construction Development Co., Ltd., holds 37.50% of shares, totaling 66,495,954 shares[9] Government Support - The company reported a significant increase in government subsidies, amounting to ¥788,853.68 for the current period, primarily due to tax relief related to the pandemic[5] Other Information - The company has not undergone an audit for the third quarter report[27] - The report indicates that the new leasing standards were not applicable for the current period[27] - The research and development expenses were not specified, indicating potential areas for future investment focus[18] - The company experienced a decrease in other comprehensive income, with a loss of CNY 43,785,666.68 compared to a gain of CNY 16,279,154.47 in the previous year[19]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 251,160,828.27, representing a 157.88% increase compared to CNY 97,395,962.44 in the same period last year[25]. - The net profit attributable to shareholders was CNY 5,104,308.69, a significant recovery from a loss of CNY 113,288,999.80 in the previous year, marking a 104.51% improvement[25]. - The net cash flow from operating activities reached CNY 75,920,663.30, compared to a negative cash flow of CNY 53,847,428.79 in the same period last year, indicating a 240.99% increase[25]. - Basic and diluted earnings per share improved to CNY 0.03 from a loss of CNY 0.82, reflecting a 103.66% increase[25]. - The weighted average return on equity was 0.36%, recovering from -11.19% in the previous year, an improvement of 11.55%[25]. - The gross profit margin for the tourism sector improved to 52.00%, reflecting a 65.67% increase compared to the previous year, driven by a larger increase in revenue than in operating costs[76]. - The company reported a significant increase in sales expenses, which rose by 80.32% to ¥9,720,901.35, as a response to the market recovery following the pandemic[72]. - The income tax expense surged by 349.97% to ¥17,966,842.42, reflecting the substantial increase in operating income and improved business conditions compared to last year[72]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,637,697,914.39, a decrease of 2.78% from CNY 2,712,996,633.18 at the end of the previous year[25]. - The net assets attributable to shareholders decreased by 1.81%, amounting to CNY 1,419,750,195.27 compared to CNY 1,445,849,465.14 at the end of the previous year[25]. - The company's total equity as of June 30, 2021, was CNY 1,472,072,954.54, down from CNY 1,496,632,442.72, indicating a decrease of about 1.6%[183]. - The total liabilities decreased to CNY 1,165,624,959.85 from CNY 1,216,364,190.46, a reduction of approximately 4.2%[182]. - The company's asset-liability ratio improved from 61% to 44% after a successful targeted issuance in 2020, aligning with the industry average[100]. Investment and Projects - The company invested 352.99 million yuan in the QianDaoHu MuXinGu project, aiming to create an "ecological theme park" IP, with a focus on integrating sightseeing and leisure vacation[66]. - The company has developed various tourism-related products, including scenic transportation systems, natural scenic areas, and themed amusement parks[34][35][37]. - The company has diversified its business into over ten tourism destination projects across China, including natural scenic spots, hotels, and theme parks, establishing a strong foundation for cross-regional tourism resource development[44]. - The company has ongoing significant non-equity investments, with a total investment of CNY 1.99 million and cumulative actual investment of CNY 21.69 million[88]. - The company has made a significant equity investment of CNY 65 million in Qian Dao Lake Tourism Development Co., holding a 100% stake[87]. Market and Industry Trends - The domestic tourism market showed a strong recovery, with 1.871 billion domestic tourist visits and a total tourism revenue of ¥1.63 trillion in the first half of 2021, representing year-on-year growth of 100.8% and 157.9% respectively[40]. - The average spending per domestic tourist increased by 28.5% year-on-year to ¥872.27[40]. - The company operates multiple tourism projects across 9 provinces in China, establishing a nationwide presence and brand chain operation[33]. - The company is focusing on the integration of culture, tourism, and digital economy as a strategic priority for future growth[42]. Risk Management - The company does not foresee any significant risks affecting its normal operations[5]. - The management emphasizes the importance of monitoring investment risks related to forward-looking statements in the report[5]. - The company is actively monitoring policy changes that may impact its operations and has implemented measures to adapt to these changes[98]. - The company is aware of the risks posed by major pandemics and natural disasters and has developed an emergency response mechanism to minimize their impact[96]. Corporate Governance and Shareholder Information - The company has completed a non-public offering of A-shares, increasing the total number of shares from 138,666,666 to 177,301,325 shares[146]. - The largest shareholder, Contemporary City Construction Development, holds 37.50% of the shares, totaling 66,495,954 shares[168]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[170]. - The company has no significant related party transactions during the reporting period[135]. Social Responsibility - The company invested approximately 773 million RMB in poverty alleviation from 2016 to 2020, helping around 7,599 registered poor individuals to escape poverty[112]. - The Guizhou Fanjing Mountain project has created nearly 500 job opportunities for local villagers, supporting 18 nearby villages[114]. - The Hainan Monkey Island project is focused on creating a red tourism demonstration area, integrating local tourism products with scenic offerings to aid villagers in achieving economic independence[118].

Financial Performance - The company's operating revenue for Q1 2021 was ¥88,936,780.34, representing a 198.19% increase compared to ¥29,825,691.75 in the same period last year[7]. - The net profit attributable to shareholders was -¥12,335,790.11, an improvement of 84.27% from -¥78,423,261.87 year-on-year[7]. - The net cash flow from operating activities was -¥21,443,387.55, showing a 53.53% reduction in losses compared to -¥46,147,897.13 in the previous year[7]. - The company reported a 128.37% increase in taxes and surcharges to ¥930,359.46, reflecting the significant rise in operating revenue[16]. - The company’s total operating revenue for the first quarter was CNY 88,936,780.34, a significant increase of 197.5% compared to CNY 29,825,691.75 in the previous period[46]. - The net loss for the quarter was CNY 11,722,451.22, an improvement from a net loss of CNY 81,453,802.76 in the same period last year[48]. - Total comprehensive income was -65,692,659.08, worsening from -29,014,181.64 in the previous period, indicating challenges in overall financial performance[52]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,698,187,697.53, a slight decrease of 0.55% from ¥2,712,996,633.18 at the end of the previous year[7]. - The company's total assets decreased to CNY 2,898,272,496.74 from CNY 3,022,598,294.71, a decline of 4.1%[44]. - The total liabilities increased to RMB 1.24 billion from RMB 1.22 billion, representing a rise of about 2.4%[40]. - The company's total liabilities decreased to CNY 1,801,446,136.11 from CNY 1,860,079,275.00, a reduction of 3.1%[44]. - The owner's equity decreased to CNY 1,096,826,360.63 from CNY 1,162,519,019.71, a decline of 5.6%[44]. Cash Flow and Liquidity - The company's cash and cash equivalents increased to RMB 597.38 million from RMB 589.04 million at the end of 2020, reflecting a growth of approximately 1.9%[38]. - The cash received from sales of goods and services was ¥87,807,103.32, reflecting a 133.28% increase from ¥37,640,491.81, driven by the recovery of business operations[18]. - The company reported a decrease in cash and cash equivalents of 350,840,103.65 CNY during the period[58]. - The cash inflow from financing activities totaled 75,000,000.00 CNY, while total cash outflow from financing activities was 10,887,472.88 CNY[58]. - The net cash flow from financing activities was 64,112,527.12 CNY, compared to a net outflow of 59,391,354.14 CNY in the previous period[58]. Shareholder and Capital Changes - The number of ordinary shareholders at the end of the reporting period was 8,742[11]. - The company issued 38,634,659 new shares, increasing its total shares from 138,666,666 to 177,301,325, and raised its registered capital from ¥138,666,666 to ¥177,301,325[19]. - The company raised a total of RMB 363.17 million through a private placement of 38,634,659 shares, with a net amount of RMB 350.05 million after deducting issuance costs[30]. Operational Efficiency and Cost Management - The financial expenses decreased by 43.20% to ¥12,174,490.81 from ¥21,433,757.94, attributed to a nearly 30% reduction in financing scale compared to the previous year[16]. - The company continues to focus on cost control and operational efficiency to improve future profitability[48]. - The company’s management expenses decreased to 10,124,564.32 from 11,813,084.03, indicating efforts to reduce operational costs[51]. Investments and Future Plans - The company plans to invest approximately ¥350 million to develop the Qiandao Lake Tianye Muge Leisure Sports Camp, which is expected to enhance its ecological theme park offerings[20]. - The company signed a strategic cooperation agreement with Beijing Crane Transportation Machinery Design Research Institute to enhance resource sharing and project development in the cableway industry[23]. Government Support - The company received government subsidies amounting to ¥5,425,349.38, mainly from tax exemptions and other government support[8]. - The company received other operating cash of ¥2,903,149.53, a 59.75% increase from ¥1,817,312.58, mainly due to an increase in government subsidies received[18].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year 2020, representing a growth of 15% compared to the previous year[1]. - The company's operating revenue for 2020 was ¥405,354,213.35, a decrease of 40.09% compared to ¥676,642,192.08 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥28,521,111.29, an increase of 150.06% from ¥11,405,762.62 in 2019[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥160,428,598.78, a significant decrease of 7,677.51% compared to ¥2,117,166.63 in 2019[20]. - The net cash flow from operating activities for 2020 was ¥135,168,555.90, down 53.75% from ¥292,282,572.87 in 2019[20]. - The basic and diluted earnings per share for 2020 were both ¥0.21, representing a 162.50% increase from ¥0.08 in 2019[20]. - The total assets at the end of 2020 were ¥2,712,996,633.18, a decrease of 5.67% from ¥2,876,048,554.68 at the end of 2019[20]. - The net assets attributable to shareholders at the end of 2020 were ¥1,445,849,465.14, an increase of 35.66% from ¥1,065,755,896.37 at the end of 2019[20]. - The company reported a total of ¥188,949,710.07 in non-recurring gains for 2020, compared to ¥9,288,595.99 in 2019[28]. - The company achieved a total operating revenue of 405 million yuan in 2020, a decrease of 40.09% compared to the previous year, while the net profit attributable to shareholders was 28.52 million yuan, an increase of 150.06% due to investment income from the transfer of equity in five subsidiaries[58]. Market Expansion and Development - The company has set a revenue target of 1.5 billion RMB for 2021, indicating an expected growth of 25%[1]. - The company plans to expand its market presence by entering three new provinces in 2021, aiming to increase its operational footprint[1]. - New product development includes the launch of a state-of-the-art cable car system, which is projected to enhance user experience and attract more visitors[1]. - The company operates multiple tourism projects across nine provinces in China, focusing on comprehensive development of tourism resources[32]. - The company has established a project development model that includes operating, constructing, and reserving projects, enhancing its market presence[32]. - The company is positioned as an "ecological theme park comprehensive operator," focusing on expanding its core cableway business while continuously developing new products and innovative business models[47]. - The company has diversified its business into multiple tourism sectors, including natural scenic spots, hotels, hot springs, and theme parks, covering over 2,000 square kilometers[45]. - The company is actively pursuing mergers and acquisitions to extend its industry chain and innovate its profit model[38]. Operational Efficiency and Cost Management - The company has invested 100 million RMB in technology upgrades to improve operational efficiency and customer engagement[1]. - The company’s cost control measures resulted in a 46.92% decrease in selling expenses and a 17.96% decrease in financial expenses compared to the previous year[58]. - The company’s focus on innovation and product iteration has allowed it to adapt to market changes and maintain operational vitality during challenging times[56]. - The company has established a standardized system for project development and management, ensuring sustainable growth and competitive advantage in the tourism sector[48]. - The company has maintained a strong brand presence with recognized brands such as "SanTe Cableway" and "SanTe Scenic Area," contributing to its market reputation[53]. Risk Management and Compliance - The company has identified potential risks including market fluctuations and regulatory changes, which may impact future performance[1]. - The company is actively addressing risks related to major pandemics, natural disasters, and market competition through diversified investments and proactive measures[122][124]. - The company is focused on ensuring compliance with all relevant regulations and maintaining transparency in its financial dealings[137]. - The company has established measures to ensure compliance with commitments to protect the interests of SanTe Cableway and its shareholders[136]. Social Responsibility and Community Engagement - The company actively undertook social responsibilities, emphasizing safety and service during the pandemic[175]. - The company donated approximately 400,000 yuan for social welfare initiatives in 2020[183]. - The company implemented a "prevention + poverty alleviation" strategy during the pandemic, supporting local governments in epidemic control efforts[187]. - Over 90% of the company's employees come from local communities, enhancing local income through tourism operations[189]. - The company has successfully completed poverty alleviation goals in regions where its projects are located, despite challenges posed by the pandemic[184]. - The company has provided vocational skills training for 263 individuals, resulting in 15 registered impoverished households achieving employment[198]. - The company has committed to maintaining pandemic safety measures while advancing its poverty alleviation initiatives[199]. Future Outlook - The company anticipates that the domestic tourism industry will perform better in 2021 compared to 2020, despite ongoing pandemic-related restrictions[116]. - The company plans to focus on the cableway main business, aiming to strengthen its position by collaborating with leading cableway manufacturing companies for technological innovation[114]. - The company aims to innovate its product offerings, including developing new attractions such as mountain-themed parks and immersive experience parks, to enhance its IP matrix[115]. - The company plans to complete the upgrade of the Zhuhai Jingshan Santuo project by October 2021 and is developing the Qiandao Lake Muxin Valley project as a benchmark for its "ecological theme park" initiative[119].

Financial Performance - Operating revenue for the reporting period was CNY 155,151,071.64, down 35.20% year-on-year, and down 51.67% for the year-to-date[7] - Net profit attributable to shareholders was CNY 102,658,246.91, an increase of 85.94% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 17,199,637.60, a decrease of 68.83% year-on-year[7] - Basic earnings per share were CNY 0.74, an increase of 85.00% year-on-year[7] - Total operating revenue decreased by 51.67% to CNY 252,547,034.08 compared to CNY 522,537,970.63 in the same period last year, primarily due to the impact of COVID-19 leading to operational shutdowns for 1-3 months[18] - The company reported a net loss of CNY 12,615,111.02 for the year-to-date period, compared to a net profit of CNY 27,371,380.08 in the same period last year[52] - The net profit for the third quarter of 2020 was CNY 105,992,841.83, a significant increase from CNY 60,957,440.28 in the same period last year, representing a growth of approximately 74%[46] - The total comprehensive income for the third quarter was CNY 116,310,154.09, compared to CNY 17,404,018.72 in the previous year, reflecting a substantial rise[46] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,650,150,184.96, a decrease of 7.85% compared to the end of the previous year[7] - The company's current assets totaled CNY 468,909,119.70, down from CNY 634,848,421.04 at the end of 2019, indicating a decline of approximately 26.1%[35] - The company's total liabilities decreased to CNY 1,525,689,396.20 from CNY 1,754,361,235.07 at the end of 2019, reflecting a reduction of approximately 13.0%[37] - The company's total equity decreased to CNY 854,017,429.91 from CNY 951,657,487.80, a decline of 10.3%[42] - The company's long-term equity investments decreased to CNY 206,710,647.97 from CNY 254,313,418.42 at the end of 2019[36] - The company’s short-term borrowings increased to CNY 363,240,000.00 from CNY 354,772,400.00 at the end of 2019[36] Cash Flow - The net cash flow from operating activities was CNY 63,378,082.36, down 47.90% compared to the same period last year[7] - The company’s cash flow from operating activities decreased by 51.14% to CNY 30,833,409.43, reflecting lower operational performance due to the pandemic[20] - The net cash flow from operating activities was -110,831,297.16 CNY, compared to 336,741,971.37 CNY in the previous year, indicating a significant decline[63] - Cash received from the sale of goods and services dropped by 50.17% to CNY 273,827,623.88, reflecting a significant decline in revenue due to the pandemic[20] - Cash inflow from financing activities amounted to 321,600,000.00 CNY, with cash outflow totaling 442,954,919.40 CNY, leading to a net cash flow of -121,354,919.40 CNY[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 8,960[11] - The largest shareholder, Wuhan Contemporary Urban Construction Development Co., Ltd., held 20.09% of the shares[11] - The company plans to issue up to 38,634,659 shares to raise a maximum of CNY 363,165,794.60 for repaying bank loans and supplementing working capital[21] Non-Recurring Items - Non-recurring gains and losses totaled CNY 124,724,090.36, primarily from asset disposals and government subsidies related to COVID-19 tax relief[8] - Other income increased by 267.37% to CNY 14,572,104.62, attributed to tax relief and government subsidies related to COVID-19[18] Strategic Initiatives - The company signed a strategic cooperation agreement with Caesar Travel, aimed at enhancing product quality and expanding marketing channels, although it will not have a significant impact on the current year's financial results[23] - The company revised its internal control systems, including the articles of association and various management rules, to enhance governance[24] Compliance and Adjustments - The company adjusted its financial statements to comply with new revenue and leasing standards, impacting the presentation of contract liabilities[64] - The company has implemented new revenue and leasing standards starting in 2020, which may impact future financial reporting[72]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥97,395,962.44, a decrease of 65.60% compared to ¥283,124,252.34 in the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥113,288,999.80, representing a decline of 204.54% from a loss of ¥37,199,519.44 in the previous year[19]. - The net cash flow from operating activities was negative at ¥53,847,428.79, a decrease of 170.87% compared to a positive cash flow of ¥75,975,540.53 in the same period last year[19]. - The basic earnings per share were -¥0.82, down 203.70% from -¥0.27 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was a loss of ¥152,554,480.85, a decrease of 259.30% from a loss of ¥42,459,141.50 in the same period last year[19]. - The significant decline in revenue and profit was primarily due to the suspension of operations at over 20 tourism projects across 9 provinces starting January 22, 2020, due to the COVID-19 pandemic[39]. - The company's revenue for the reporting period was ¥97,395,962.44, a decrease of 65.60% compared to ¥283,124,252.34 in the same period last year, primarily due to the impact of COVID-19 which led to the suspension of operations from January 22 for 1 to 3 months[59]. - The operating income from the tourism sector was ¥91,143,344.80, accounting for 93.58% of total revenue, which represents a 66.37% decrease from ¥271,025,894.13 in the previous year[61]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,565,909,061.69, a decrease of 10.78% from ¥2,876,048,554.68 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 10.07%, from ¥1,065,755,896.37 to ¥958,428,738.78[19]. - Cash and cash equivalents decreased by 40.91% compared to the beginning of the period, mainly due to loan repayments and interest payments[31]. - Accounts receivable decreased by 32.72% compared to the beginning of the period, primarily due to the collection of 2019 "Great Wuhan Annual Card" settlement payments[31]. - The company's asset-liability ratio for the first half of 2020 was approximately 60.71%, slightly down from the same period last year, but still at a high level[91]. - Total liabilities as of June 30, 2020, were CNY 1.98 billion, a slight decrease from CNY 2.04 billion at the end of 2019, showing a reduction of 2.8%[179]. Operational Adjustments and Strategies - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company does not foresee any significant risks affecting its normal operations[5]. - The company has established a nationwide layout of tourism projects across 9 provinces, including Shaanxi, Guizhou, Hainan, Inner Mongolia, Hubei, and Zhejiang[25]. - The company is focused on expanding its market presence through mergers and acquisitions to enhance profitability and resource control[34]. - The company has implemented various marketing strategies, including over 400 online promotions and 20 cloud tourism videos, achieving a total exposure of 556 million times to boost local tourism demand[47]. - The company is actively applying for government subsidies and engaging in discussions regarding tax and fee reductions to support its operations during the pandemic[87]. - The company has established a special leadership group to coordinate pandemic response efforts and has initiated a comprehensive plan for operational recovery[87]. Community and Social Responsibility - The company reported a total funding of 129.91 million yuan for poverty alleviation efforts[136]. - A total of 61 registered impoverished individuals were helped to escape poverty through the company's initiatives[136]. - The company invested 16.21 million yuan in 10 tourism and e-commerce poverty alleviation projects[136]. - The company provided 39.5 million yuan for vocational skills training to facilitate employment for impoverished individuals[136]. - The company emphasized the importance of tourism as a key industry for poverty alleviation in affected regions[129]. - Over 90% of the company's employees are local residents, contributing to community income during the pandemic[134]. Management and Governance - The management team has undergone a restructuring, with over half of the senior management being from the "post-80s" generation, aiming to enhance operational efficiency and innovation[51]. - The company underwent a significant management change on May 21, 2020, with multiple new appointments and departures, including the election of Zhang Quan as Chairman[166]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period, reflecting a focus on other strategic initiatives[106]. - There were no major lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[102]. Financial Outlook and Future Plans - The company plans to raise ¥363 million through a non-public stock issuance to repay bank loans and supplement working capital, which will help lower the debt-to-asset ratio[49]. - The company aims to capitalize on market opportunities by acquiring and integrating high-quality tourism assets during the industry's consolidation phase[54]. - The company plans to issue up to 41,599,999 A-shares, representing 30% of the total share capital before issuance, to raise a maximum of RMB 391,039,990.60[111]. - The fundraising amount was adjusted to a maximum of RMB 363,165,794.60 due to market conditions and company circumstances[112].

Financial Performance - The company's operating revenue for Q1 2020 was ¥29,825,691.75, a decrease of 72.52% compared to ¥108,524,821.52 in the same period last year[8]. - The net profit attributable to shareholders was -¥78,423,261.87, representing a decline of 101.13% from -¥38,991,614.84 year-on-year[8]. - The net cash flow from operating activities was -¥46,147,897.13, a significant drop of 747.35% compared to -¥5,446,168.64 in the previous year[8]. - Total revenue for the reporting period was CNY 29,825,691.75, a decrease of 72.52% compared to CNY 108,524,821.52 in the same period last year, primarily due to the impact of the pandemic which led to the suspension of operations at all scenic spots from January 24[19]. - The company reported a net investment loss of CNY -1,176,885.58, a decrease of 255.69% year-on-year, attributed to last year's gains from the transfer of equity in South Zhang Real Estate and Chongyang Ecological Farm[19]. - The company reported a total comprehensive income for the first quarter of -29,014,181.64 CNY, compared to 199,309,187.86 CNY in the previous year[50]. - The net loss for Q1 2020 was CNY 81,453,802.76, compared to a net loss of CNY 38,608,501.33 in Q1 2019, indicating an increase in losses of 111%[47]. - The company reported an operating profit of CNY -80,524,342.40 for Q1 2020, compared to CNY -28,823,207.63 in the previous year, indicating a decline in operational performance[46]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,837,677,071.32, down 1.33% from ¥2,876,048,554.68 at the end of the previous year[8]. - The total assets of the company were CNY 2,911,297,034.90 as of Q1 2020, down from CNY 2,988,588,898.74, a decrease of approximately 2.6%[46]. - Total current assets decreased from CNY 634.85 million to CNY 579.52 million, a decline of approximately 8.67%[36]. - Total non-current assets increased from CNY 2.24 billion to CNY 2.26 billion, an increase of about 0.81%[37]. - Total liabilities rose from CNY 1.75 billion to CNY 1.79 billion, an increase of approximately 2.73%[38]. - The company's total liabilities decreased to CNY 1,988,653,728.74 from CNY 2,036,931,410.94, a reduction of approximately 2.4%[46]. - The total equity of the company as of Q1 2020 was CNY 922,643,306.16, down from CNY 951,657,487.80, reflecting a decrease of about 3%[46]. - Total equity attributable to shareholders decreased from CNY 1.07 billion to CNY 993.79 million, a decline of approximately 6.75%[39]. Cash Flow and Financing - Cash received from sales of goods and services was CNY 37,640,491.81, reflecting a decline of 65.96% compared to the previous year, also due to the pandemic-related operational shutdowns[21]. - The company’s cash flow from operating activities showed a significant change, with cash and cash equivalents at CNY 109.17 million compared to CNY 261.23 million previously, a decrease of approximately 58.25%[40]. - The company raised 80,000,000.00 CNY in borrowings during the period, down from 160,000,000.00 CNY in the previous year[52]. - The net cash flow from financing activities was -10,299,595.61 CNY, compared to -66,010,414.61 CNY in the previous year[53]. - The cash outflow from investing activities was 53,372,622.67 CNY, compared to 32,477,383.84 CNY in the previous year[52]. - The company experienced a net decrease in cash and cash equivalents of -55,020,115.41 CNY, compared to -101,168,967.24 CNY in the previous year[53]. Cost Management and Subsidies - The company reduced its sales expenses to CNY 1,866,853.81, down 39.93% from CNY 3,107,662.98, as a result of strict cost control measures during the pandemic[19]. - The company received government subsidies amounting to ¥1,476,166.44, primarily from VAT refunds and employment stabilization subsidies[9]. - The company has actively sought government subsidies and financial support to navigate the challenges posed by the pandemic[25]. - The company reduced its tax expenses to CNY 912,905.04, a decrease of 90.64% compared to CNY 9,751,722.70 in the previous year, due to losses incurred by most subsidiaries during the pandemic[19]. Operational Adjustments - The company has implemented measures to mitigate the impact of the COVID-19 pandemic, including cost reduction, asset disposal, and exploring online marketing strategies[25]. - The company plans to restart its non-public issuance of A-shares, which was previously terminated, pending approval from the China Securities Regulatory Commission[22][23]. - The company has not made any adjustments to the financial statements for the beginning of the year following the implementation of the new revenue recognition standards[64]. - The first quarter report was not audited, indicating that the figures presented are preliminary[64].

Shareholder Structure and Control - The company reported a change in its controlling shareholder from Wuhan Contemporary Technology Industry Group Co., Ltd. to Wuhan Contemporary Urban Construction Development Co., Ltd. during the reporting period[17]. - The company’s actual controller remains Mr. Ai Luming despite the change in the controlling shareholder[17]. - The company completed the transfer of 27,861,295 shares (20.09% of total shares) from its controlling shareholder, ensuring no change in actual control[162]. - The company’s shareholder structure shows that 4.98% of the shares are held by Wuhan Contemporary Technology Industry Group Co., Ltd., amounting to 6,900,000 shares[173]. - The actual controller of the company is a domestic natural person, Ai Luming, who holds multiple directorships in related companies[177]. - The company has maintained a stable governance structure with no significant changes in its controlling relationships[177]. - The company has not reported any major shareholder changes or restrictions on share reductions during the reporting period[178]. Financial Performance - The company’s operating revenue for 2019 was ¥676,642,192.08, an increase of 4.39% compared to ¥648,200,560.82 in 2018[18]. - The net profit attributable to shareholders for 2019 was ¥11,405,762.62, a significant decrease of 91.53% from ¥134,726,722.18 in 2018[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,117,166.63, down 57.76% from ¥5,012,607.70 in 2018[18]. - The company reported a basic earnings per share of ¥0.08, down 91.75% from ¥0.97 in 2018[18]. - The company reported a revenue of 676.64 million yuan, an increase of 4.39% year-on-year, while net profit decreased by 12.32 million yuan compared to the previous year[45]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2019, representing a year-over-year increase of 15%[193]. Cash Flow and Investments - The net cash flow from operating activities increased by 17.71% to ¥292,282,572.87 from ¥248,305,221.69 in 2018[18]. - The company’s cash and cash equivalents decreased by 48.89% compared to the beginning of the period, primarily due to payments for the acquisition of Donghu Ocean Park and loan repayments[39]. - Cash inflow from investment activities decreased significantly by 85.65% to ¥51,768,468.04 in 2019, down from ¥360,857,715.66 in 2018[77]. - The company reported a significant decline in investment income, with a loss of ¥2,499,382.33, representing -2.86% of total profit[81]. - The company made a significant equity investment of CNY 280 million in Wuhan Longchao Donghu Ocean Park, acquiring an 80% stake[88]. - The total amount of equity investments during the reporting period reached CNY 296 million[88]. Business Operations and Strategy - The company operates multiple tourism projects across nine provinces in China, focusing on comprehensive tourism resource development[27]. - The company has established a project development model of "operating a batch, constructing a batch, and reserving a batch" for its tourism resources[27]. - The company aims for annual growth of around 10% in tourist numbers and over 11% in tourism revenue as per the "13th Five-Year" tourism development plan[33]. - The company is actively seeking external growth through acquisitions to enhance profitability[31]. - The company plans to continue its expansion through mergers and acquisitions to enhance its competitive position in the tourism market[41]. - The company is implementing a strategy of "Tourism+" by integrating tourism with education, sports, and health care, achieving certain results in these collaborative efforts[59]. Risk Management and Compliance - The company emphasizes that future development plans are subject to market conditions and uncertainties, highlighting potential investment risks[5]. - The company is committed to ensuring safety management and risk prevention, particularly in light of potential natural disasters and pandemics that could impact operations[105]. - The company has established a "Safety Production Committee" to oversee safety operations and promote a risk prevention culture[112]. - The company has committed to fulfilling its promises regarding shareholder returns and will adhere to regulatory requirements for any future capital actions[115]. - The company recognizes the importance of understanding policy changes and their potential impacts on operations, emphasizing proactive adaptation to regulatory environments[105]. Social Responsibility and Community Engagement - The company donated approximately 868,500 RMB for social welfare initiatives in 2019[150]. - The company is involved in tourism poverty alleviation projects across 9 provinces, directly creating job opportunities for local impoverished populations[152]. - The company has implemented a "1+N" model for comprehensive tourism poverty alleviation, enhancing local economic development and community living conditions[153]. - The company aims to balance economic benefits with social responsibility and environmental protection in all its projects[154]. - The company reported a total investment of 1,288.3 million yuan in poverty alleviation efforts, helping 279 registered impoverished individuals to escape poverty[157]. Future Outlook and Growth Projections - The company provided a future outlook projecting a revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion[193]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2022[193]. - A strategic acquisition of a local competitor is expected to enhance operational capabilities and increase market share by 15%[193]. - The company aims to develop a first-class domestic and internationally recognized tourism brand, promoting local economic and cultural development through various tourism projects[159].

Financial Performance - Operating revenue for the reporting period was ¥239,413,718.29, up by 1.10% compared to the same period last year[7]. - Net profit attributable to shareholders of the listed company was ¥55,209,819.22, a decrease of 11.40% year-on-year[7]. - Basic earnings per share stood at ¥0.40, down by 11.11% compared to the same period last year[7]. - The net cash flow from operating activities was ¥121,657,513.47, an increase of 9.34% year-on-year[7]. - The weighted average return on net assets was 4.98%, a decrease of 1.35% compared to the previous year[7]. - The total operating revenue for Q3 2019 was CNY 239,413,718.29, a slight increase from CNY 236,799,928.46 in the same period last year, representing a growth of approximately 0.68%[49]. - The net profit for the third quarter was CNY 60.96 million, a decrease from CNY 66.30 million in the same period last year, reflecting a decline of approximately 8.5%[51]. - The total comprehensive income for Q3 2019 was ¥71,090,683.49, compared to ¥164,414,933.09 in the previous year[58]. - The company reported a net investment loss of CNY 44,883.63 in Q3 2019, an improvement from a loss of CNY 500,396.70 in the same period last year[49]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,141,126,178.82, an increase of 9.68% compared to the end of the previous year[7]. - Net assets attributable to shareholders of the listed company amounted to ¥1,115,191,193.16, reflecting a growth of 16.08% year-on-year[7]. - The company reported a significant increase in liabilities held for sale by 57026.50% to CNY 19,445,654.43, following asset transfers[16]. - Total liabilities increased to CNY 2,229,471,314.52 in Q3 2019 from CNY 1,755,130,121.07 in Q3 2018, marking an increase of about 26.94%[46]. - The total assets of the company were 2,863,827,356.57 yuan, reflecting a decrease of 125,692,059.82 yuan compared to the previous year[72]. - Total liabilities amounted to CNY 1,887,933,458.97, with a slight increase to CNY 1,920,858,969.70, reflecting a change of CNY 32,925,510.73[73]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,785[11]. - The top ten shareholders collectively held 25.65% of the company's shares, indicating a concentration of ownership[12]. - The controlling shareholder of the company changed from Wuhan Contemporary Technology Industry Group Co., Ltd. to Wuhan Contemporary Urban Construction Development Co., Ltd. after transferring 27,861,295 shares, accounting for 20.09% of the total share capital[24]. Investments and Acquisitions - The company acquired 80% of Donghu Ocean Park, resulting in a significant increase in goodwill by 114.85% to CNY 176,336,993.01[16]. - The company increased its investment in Wuyishan Santiao Cableway Co., Ltd. by converting a debt of 16 million RMB into registered capital, raising the registered capital to 92.4 million RMB, with the company's shareholding at 37.99%[27]. - The company acquired 80% equity of Wuhan Longchao Donghu Ocean Park Co., Ltd., which will be included in the company's consolidated financial statements starting from September 2019[25][26]. Cash Flow - The cash inflow from operating activities totaled ¥553,971,039.83, compared to ¥580,603,088.95 in the previous year[64]. - The cash outflow from investment activities was ¥137,135,346.05, compared to ¥105,406,376.25 in the previous year[64]. - The company reported a significant increase in financial expenses, totaling ¥71,441,957.40 for the current period, compared to ¥45,890,699.02 in the previous year[60]. - The company distributed dividends and profits amounting to 63,509,731.09 yuan, compared to 47,564,151.18 yuan in the previous year[68]. Other Financial Metrics - Non-recurring gains and losses totaled ¥5,286,601.08, primarily from asset disposals and government subsidies[8]. - Financial expenses rose by 34.26% to CNY 81,564,419.54, primarily due to increased interest expenses from projects[19]. - Other income increased by 151.89% to CNY 3,966,549.88, attributed to higher government subsidies received[19]. - The company reported a credit impairment loss of CNY 4.80 million for the quarter[50]. - The income tax expense for the quarter was CNY 27.38 million, compared to CNY 24.39 million in the previous year, an increase of about 12.3%[50].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥283,124,252.34, representing a 6.11% increase compared to ¥266,811,256.99 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥37,199,519.44, a decrease of 138.54% from ¥96,533,650.87 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥42,459,141.50, a decline of 55.17% compared to -¥27,362,537.42 in the same period last year[19]. - The net cash flow from operating activities was ¥75,975,540.53, down 37.13% from ¥120,844,472.74 in the previous year[19]. - The basic earnings per share were -¥0.27, a decrease of 138.57% from ¥0.70 in the same period last year[19]. - The total assets at the end of the reporting period were ¥2,984,163,214.12, an increase of 4.20% from ¥2,863,827,356.57 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were ¥1,103,534,795.50, reflecting a 14.87% increase from ¥960,717,662.85 at the end of the previous year[19]. - The weighted average return on net assets was -3.45%, a decrease of 14.49% from 11.04% in the previous year[19]. Revenue Sources - Revenue from the tourism sector amounted to ¥271,025,894.13, accounting for 95.73% of total revenue, with a year-on-year growth of 5.05%[46]. - The cableway segment generated ¥196,289,533.27 in revenue, which is 69.33% of total revenue, reflecting a 9.82% increase from ¥178,731,498.64 in the previous year[46]. - The scenic area revenue decreased by 11.34% to ¥49,414,300.69, down from ¥55,732,793.17 in the same period last year[47]. - The company’s seven profitable subsidiaries achieved a combined operating revenue of 261.55 million yuan, a year-on-year increase of 9.97%[33]. - The company’s net profit from these subsidiaries was 96.77 million yuan, a year-on-year increase of 10.34%[33]. Investment and Assets - The company achieved an investment income of 384.43 million RMB from the transfer of assets during the reporting period[40]. - The company’s held-for-sale assets increased by 1,045.78% as a result of reclassifying certain assets[29]. - The company’s other current assets increased by 1,101.68% mainly due to an increase in input VAT credits[29]. - The company’s investment properties decreased by 99.56% due to the transfer of certain assets to held-for-sale assets[29]. - The total actual investment across all projects reported is 35,948.78 million CNY, with a planned total investment of 40,397 million CNY[66]. Financial Strategy and Risks - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has received feedback from the China Securities Regulatory Commission regarding its non-public issuance of A shares, which is still subject to approval, indicating uncertainty in the process[5]. - The company plans to issue non-public A-shares to raise up to 54.5 million RMB for repaying long-term loans and supplementing working capital[39]. - The company faces policy risks related to tourism industry regulations, which may impact financing and project resources[71]. - Market risks are influenced by consumer behavior and economic conditions, necessitating the company to adapt its marketing strategies accordingly[71]. Social Responsibility and Community Impact - The company reported a total investment of 745.1 million yuan in poverty alleviation efforts, with an additional 2.9 million yuan in material donations[105]. - A total of 164 registered impoverished individuals were helped to escape poverty through the company's initiatives[105]. - The company has successfully helped counties such as Jiangkou and Baokang exit from poverty status, as approved by local governments[101]. - The company emphasizes sustainable development by using environmentally friendly transportation methods in its projects[102]. - The company has created numerous job opportunities through its tourism projects, significantly improving local economic conditions[100]. Corporate Governance and Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,257[116]. - The controlling shareholder, Wuhan Contemporary Technology Industry Group, holds 25.07% of the shares, with 34,761,295 shares pledged[116]. - The company has completed the transfer of 27,861,295 shares, representing 20.09% of the total share capital, from its controlling shareholder to another entity under the same actual controller[109]. - The company reported no cash dividends or stock bonuses for the half-year period, indicating a focus on retaining earnings[77]. - The company did not engage in any significant related party transactions during the reporting period, maintaining a focus on transparency[86]. Operational Efficiency - The company reported a gross margin of 52.21% for the tourism sector, which is an improvement of 3.39% year-on-year[48]. - The company experienced a substantial increase in cash inflow from operating activities, reflecting improved operational efficiency and revenue generation[149]. - The cash inflow from operating activities was primarily driven by receipts from other operating activities amounting to ¥322,315,860.20, compared to ¥49,777,939.12 in the previous year[149]. - The company’s management expenses increased to CNY 24,248,375.49 from CNY 18,617,356.37 year-on-year[143]. - The company has established a safety management system and a safety production committee to ensure operational safety in its cable car services[73].