证券代码：002707 证券简称：众信旅游 编号：2024-002 | --- | --- | --- | --- | |-------------------------------|---------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The investment rating for the company is "Buy - A" with a 6-month target price of 7.61 CNY, compared to the current stock price of 6.35 CNY [5]. Core Insights - The company reported a significant increase in revenue and profit for the first half of 2024, with total revenue reaching 2.617 billion CNY, up 230.25%, and net profit attributable to shareholders at 72 million CNY, up 307.90% [1]. - The tourism market in China is experiencing a robust recovery, driven by optimized inbound and outbound policies, which has led to a rapid growth in order volume and operational efficiency [3]. - The company has successfully improved its gross margin and reduced costs, achieving a net profit margin of 2.74% in the first half of 2024, a significant increase from the previous year [2]. Financial Performance Summary - In Q2 2024, the company achieved revenue of 1.592 billion CNY, an increase of 143.25%, and a net profit of 44 million CNY, reflecting a remarkable growth of 1369.27% [1]. - The gross margin for the first half of 2024 was 13.07%, up 2.06 percentage points year-on-year, while the net profit margin improved to 2.74%, up 7.10 percentage points [2]. - The company’s cash flow from operating activities reached 421 million CNY, a staggering increase of 9780.34%, indicating strong customer payments and prepayments [1]. Market Outlook - The tourism market is expected to continue its upward trend into the second half of 2024, with the peak travel season approaching and the recovery of international flights, which will likely boost outbound tourism business [3]. - The company is enhancing its product offerings with a focus on differentiated customized travel experiences, which is expected to meet the high-quality travel demands of customers [3]. - The company’s partnership with various international tourism boards aims to strengthen its market position and expand its service offerings [3]. Strategic Initiatives - The company is leveraging its stake in the Hangzhou Axin platform to enhance industry chain collaboration, resulting in increased user engagement and transaction volume [4]. - The platform has seen a 35% increase in registered travel consultants and stores, with a peak monthly transaction value of 40 million CNY, reflecting a 779% year-on-year growth in payment GMV [4]. - The company plans to deepen its integration of outbound travel products and expand into the domestic travel market, focusing on resource supply and user retention [4].

证券研究报告·公司点评报告·旅游及景区 众信旅游（002707） 2024 半年报点评：Q2 净利润接近疫情前，环 比有望继续走强 2024 年 08 月 31 日 增持（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|----------|----------|----------|----------|-----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 506.99 | 3,298.49 | 7,168.53 | 9,926.13 | 12,667.32 | | 同比（ % ） | (29.08) | 550.60 | 117.33 | 38.47 | 27.62 | | 归母净利润（百万元） | (221.37) | 32.27 | 178.81 | 227.56 | 288.46 | | 同比（ % ） | 52.18 | 114.58 | 454.04 | 27.26 | ...

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥2,617,005,999.94, representing a 230.25% increase compared to ¥792,435,891.12 in the same period last year[11]. - Net profit attributable to shareholders was ¥71,773,585.55, a significant turnaround from a loss of ¥34,523,281.46 in the previous year, marking a 307.90% increase[11]. - The net profit after deducting non-recurring gains and losses was ¥66,964,009.64, compared to a loss of ¥36,777,846.93 last year, reflecting a 282.08% improvement[11]. - The net cash flow from operating activities surged to ¥420,969,038.20, a dramatic increase of 9,780.34% from ¥4,260,672.25 in the prior year[11]. - Basic earnings per share improved to ¥0.073, compared to a loss of ¥0.035 per share in the same period last year, representing a 308.57% increase[11]. - The company's total revenue for the reporting period reached ¥2,617,005,999.94, a significant increase of 230.25% compared to ¥792,435,891.12 in the same period last year[30]. - The operating costs also rose to ¥2,274,877,728.41, reflecting a 222.59% increase from ¥705,181,445.77 year-on-year[30]. - The total comprehensive income for the first half of 2024 was CNY 77,959,842.94, contrasting with a loss of CNY 41,594,219.90 in the same period last year[98]. - The total profit for the first half of 2024 was CNY 115,892,111.34, a significant recovery from a loss of CNY 33,930,359.13 in the first half of 2023[97]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,676,012,785.51, an 11.02% increase from ¥2,410,373,263.98 at the end of the previous year[11]. - Net assets attributable to shareholders increased to ¥828,850,873.49, up 10.70% from ¥748,713,696.82 at the end of the last year[11]. - The company's cash and cash equivalents increased to ¥839,078,357.11, representing 31.36% of total assets, up from 26.57% last year, indicating a 4.79% increase[35]. - Accounts receivable decreased to ¥243,508,551.41, accounting for 9.10% of total assets, down from 13.82% last year, reflecting a 4.72% decline[35]. - Contract liabilities rose to ¥706,759,598.60, making up 26.41% of total assets, an increase of 8.30% from 18.11% last year, due to strong sales collection[35]. - Short-term borrowings decreased to ¥255,492,572.46, which is 9.55% of total assets, down from 16.60% last year, as the company repaid part of its bank loans, reflecting a 7.05% decline[35]. - The company's total liabilities increased to CNY 2,060,749,283.62, up from CNY 1,894,552,588.03, representing a growth of approximately 8.8% year-over-year[92]. Market and Product Development - The company launched over 500 unique travel products in the "Zhongxin Manufacturing 2.0" series, with over 90% being exclusive offerings[15]. - The active user base and total transaction volume of the company's subsidiary, Hangzhou Axin, increased by 35% and 779% year-on-year, respectively[16]. - The company is focused on optimizing its tourism product structure and expanding into new markets while improving operational efficiency[15]. - The company aims to enhance its channel and brand construction to meet evolving consumer demands in the tourism sector[15]. - The company is expanding its marketing network and developing new products to strengthen its competitive position in the tourism sector[49]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[129]. Risk Management - The management has highlighted potential risks and countermeasures in the operational environment, which investors should be aware of[2]. - The company faces macroeconomic risks that could impact consumer spending on tourism, particularly if disposable income declines[47]. - To mitigate risks, the company is enhancing upstream resource collaboration and optimizing resource allocation to improve customer loyalty[48]. - The company is monitoring geopolitical and environmental factors to adjust its product offerings and minimize potential losses from unforeseen events[50]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[2]. - The annual shareholders' meeting had a participation rate of 22.70% on May 20, 2024[56]. - The company has established a post-investment management department to enhance integration efficiency after mergers and acquisitions[54]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[57]. - The company reported no major litigation or arbitration matters during the reporting period[60]. Financial Strategy and Compliance - The financial report for the first half of 2024 was not audited[89]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial reports accurately reflect its financial position and performance[122]. - The company has established specific accounting policies for revenue recognition based on its operational characteristics, which are in line with relevant accounting standards[121]. - The company recognizes revenue based on the timing of performance obligations, either over a period or at a point in time[198]. User Engagement and Growth - User data showed a total of 2 million active users, representing a 20% increase compared to the previous year[129]. - New product launches contributed to 30% of total revenue, highlighting successful market expansion efforts[129]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience[129]. - A strategic acquisition was completed, adding $100 million in annual revenue from the newly acquired subsidiary[129].

众信旅游集团股份有限公司2024年上半年度非经营性资金占用及其他关联资金往来情况汇总表 公司法定代表人： 主管会计工作的公司负责人: 公司会计机构负责人： 编制单位：众信旅游集团股份有限公司 单位：元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的关联 | 上市公司核算的 | | 2024年期初占用资 | 2024年1-6月占用 累计发生金额 | 2024年1-6月占 用资金的利息 | 2024年1-6月偿 还累计发生金 | 2024年6月期末 | 占用形成原 | | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关系 | 会计科目 | | 金余额 | （不含利息） | (如有) | 额 | 占用资金余额 | 因 | | | | 控股股东、实际控 | | | | | | | | | | - | | - | | 制人及其附属企业 | | | | | | | | | | - | | - | | 小计 | | - | - | - | - | - | | - | ...

股票代码：002707 股票简称：众信旅游 公告编号：2024-036 众信旅游集团股份有限公司 第五届董事会第十五次会议决议公告 本公司及董事会全体成员保证本公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、董事会会议召开情况 根据《公司法》及《众信旅游集团股份有限公司章程》（以下简称"《公司 章程》"）的有关规定，众信旅游集团股份有限公司（以下简称"公司"）第五 届董事会第十五次会议于 2024 年 8 月 30 日在北京市朝阳区朝阳公园路 8 号（朝 阳公园西 2 门）众信旅游大厦二层会议室以现场会议和通讯会议相结合的方式召 开。本次会议由董事长冯滨先生召集，并于 2024 年 8 月 20 日以电子邮件方式通 知全体董事、监事及高级管理人员。本次会议应到会董事 8 人，实际到会董事 8 人，会议由董事长冯滨先生主持，公司的监事及高级管理人员列席了本次会议。 会议召开及表决符合有关法律、行政法规、部门规章、规范性文件及《公司章程》 的规定。 二、董事会会议审议情况 1、审议通过了《关于公司 2024 年半年度报告及其摘要的议案》； 表决结果： 8 票赞成、 0 票反对、 0 票弃权 ...

股票代码：002707 股票简称：众信旅游 公告编号：2024-039 众信旅游集团股份有限公司 关于召开 2024 年第三次临时股东大会的通知 本公司及董事会全体成员保证本公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 重要内容提示： 众信旅游集团股份有限公司（以下简称"公司"）第五届董事会第十五次会 议决议召开公司2024年第三次临时股东大会，现将会议有关情况公告如下： 一、本次会议召开的基本情况 3、会议召开的合法、合规性：本次股东大会的召开符合《公司法》《上市 公司股东大会规则》《深圳证券交易所股票上市规则》等有关法律法规、部门规 章、规范性文件和《公司章程》的规定。 4、会议召开的日期和时间： （1）现场会议时间：2024 年 9 月 23 日（星期一）下午 2 点（下午 1 点半 到 2 点为现场审核登记时间） （2）网络投票时间： 本公司同时提供深圳证券交易所交易系统和互联网投票系统供股东进行网 络投票。 1 股东大会召开日期：2024年9月23日（星期一）下午2点（下午1点半到2 点为现场审核登记时间） 股权登记日：2024年9月13日（星期五） 本次股东大会提供网络投票方 ...

众信旅游集团股份有限公司 大股东、董监高所持本公司股份 及其变动管理制度 （2024 年 8 月修订） 第一章 总则 第一条 为加强对公司控股股东和持股 5%以上股东（以下简称大股东）、董 事、监事和高级管理人员（以下简称董监高）所持众信旅游集团股份有限公司（以 下简称公司或本公司）股份、其他股东持有的公司首次公开发行前发行的股份及其 变动的管理，根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人 民共和国证券法》（以下简称《证券法》）、中国证券监督管理委员会（以下简称 中国证监会）发布的《上市公司董事、监事和高级管理人员所持本公司股份及其变 动管理规则》《上市公司股东减持股份管理暂行办法》《深圳证券交易所股票上市 规则》（以下简称《股票上市规则》）、《深圳证券交易所上市公司自律监管指引 第 1 号——主板上市公司规范运作》、《深圳证券交易所上市公司自律监管指引第 10 号——股份变动管理》等法律、行政法规、部门规章、规范性文件以及《众信旅 游集团股份有限公司章程》（以下简称《公司章程》）的有关规定，并结合本公司 实际情况，制定本制度。 第二条 本制度适用于本公司的大股东（即公司持有百分之五以上股份 ...

股票代码：002707 股票简称：众信旅游 公告编号：2024-037 众信旅游集团股份有限公司 第五届监事会第十二次会议决议公告 本公司及监事会全体成员保证本公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、监事会会议召开情况 根据《公司法》及《众信旅游集团股份有限公司章程》（以下简称"《公司章 程》"）的有关规定，众信旅游集团股份有限公司（以下简称"公司"）第五届监 事会第十二次会议于 2024 年 8 月 30 日在北京市朝阳区朝阳公园路 8 号（朝阳公 园西 2 门）众信旅游大厦二层会议室以现场会议和通讯会议相结合的方式召开。 本次会议由监事长苏杰先生召集，并于 2024 年 8 月 20 日以电子邮件方式通知全 体监事。本次会议应到会监事 3 人，实际到会监事 3 人，会议由监事长苏杰先生 主持。会议召开及表决符合有关法律、行政法规、部门规章、规范性文件及《公 司章程》的规定。 3 票赞成、 0 票反对、 0 票弃权，赞成票数占有效表决票数的 100％。 经审核，监事会认为：董事会编制和审核公司 2024 年半年度报告的程序符 合法律、行政法规和中国证监会的规定，报告内容真实、 ...

股票代码：002707 股票简称：众信旅游 公告编号：2024-038 众信旅游集团股份有限公司 为进一步完善众信旅游集团股份有限公司（以下简称"公司"）风险管理体 系，降低公司治理和运营风险，增强公司治理结构的稳健性，根据《上市公司治 理准则》及其他相关法律法规的规定，拟为公司及董事、监事和高级管理人员购 买责任保险（以下简称"董责险"）。根据相关法律法规的规定，公司全体董事、 监事对该议案回避表决，该议案将直接提交公司股东大会审议批准。现将有关事 项公告如下： 一、董责险基本方案 1．投保人：众信旅游集团股份有限公司 2．被保险人：公司；全体董事、监事、高级管理人员及其他责任人 3．赔偿限额：不超过人民币 10,000 万元 关于为公司及董事、监事和高级管理人员 购买责任保险的公告 本公司及董事会全体成员保证本公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 4．保费支出：不超过人民币 50 万元/年（具体以保险公司最终报价审批数据为 准） 5．保险期限：12 个月（后续每年可重新投保或续保） 6．为提高决策效率，公司董事会提请股东大会授权公司管理层及其授权人员 办理上述董责险的相关事宜 ...