Group 1: Company Overview - Lingnan Ecological Culture Tourism Co., Ltd. has developed into a national group enterprise integrating ecological environment and landscape construction, cultural tourism, and investment operations after 21 years of cultivation [5] - The company aims to focus on three major business sectors: ecological environment construction and restoration, water management, and cultural tourism [5] Group 2: Strategic Direction - The company has actively adjusted its strategy, reducing high-risk businesses while emphasizing the development of "solidifying landscaping, expanding water services, and strengthening cultural tourism" [3] - Key business layouts include urban cultural tourism complexes, EPC projects, and new rural projects, with a focus on major cities in the Beijing-Tianjin-Hebei region, Guangdong-Hong Kong-Macao Greater Bay Area, and Yangtze River Delta [3] Group 3: Financial Strategies - The company maintained stable main business operations over the past year, achieving reasonable growth in total financing while maintaining a balanced debt ratio [4] - Future financing strategies include optimizing the financing structure, increasing support from state-owned policy banks, and reducing financing costs to lower the debt ratio [4] Group 4: Market Opportunities - The implementation of policies such as the "Guangdong-Hong Kong-Macao Greater Bay Area" and "Socialist Demonstration Zone" will provide broader opportunities for the company's development [4] - The company is committed to contributing to the construction of a beautiful China and the ecological development of the Guangdong-Hong Kong-Macao Greater Bay Area [4]

Group 1: Company Overview - Lingnan Ecological Culture Tourism Co., Ltd. was established in 1998 and listed on the SME board in 2014 (Stock Code: SZ.002717) [3] - The company has developed into a national group integrating ecological landscape, soil and water governance, culture and tourism, investment, and operation, with four business groups: landscaping, water affairs, culture, and design [3][4] Group 2: Business Strategy - The company has actively adjusted its strategy, focusing on "solidifying landscaping, expanding water affairs, and strengthening cultural tourism" [3] - Emphasis on quality development, actual profit situations, and accelerated cash collection [3] - Key business layouts include urban cultural tourism complexes, EPC projects, and new rural projects, particularly in key cities like Beijing-Tianjin-Hebei, Guangdong-Hong Kong-Macao Greater Bay Area, and Yangtze River Delta [3][4] Group 3: Operational Qualifications - The company holds multiple first-class qualifications, including national landscape engineering design, municipal public engineering construction, and water conservancy construction [4] - Recognized as a national high-tech enterprise and has received numerous honors, including the National Contract-abiding and Trustworthy Enterprise [4] Group 4: Business Segments and Case Studies - **Landscaping Group**: Engaged in landscape engineering, municipal projects, and soil restoration, with notable projects like the Dongguan Songshan Lake Ecological Park [5] - **Water Affairs Group**: Focuses on urban water services and sewage treatment, with key projects such as the Beijing Tongzhou North Canal Rubber Dam Reconstruction [5] - **Cultural Group**: Involves high-tech cultural products and tourism destination operations, with examples like the Suzhou Flying Over Jiangsu 3D Cinema [5] - **Design Group**: Offers comprehensive solutions for urban landscape planning and environmental restoration, with projects like the Beijing Wenyu River Park Conceptual Planning [5][6] Group 5: Future Strategy - The company aims to strengthen its focus on ecological environment construction, water governance, and cultural tourism, while maintaining a professional group management model [6] - Plans to deepen industry collaboration and provide systematic solutions and high-quality operational services [6] Group 6: Investor Relations - The investor relations activity took place on November 7, 2019, in Shanghai, attended by eight investors and representatives from various investment firms [2][7] - The company adheres to regulations and has not disclosed any significant undisclosed information during the roadshow [7]

Group 1: Company Overview - Lingnan Ecological Culture Tourism Co., Ltd. has developed into a national group enterprise integrating ecological environment and landscape construction, cultural tourism, and investment operations over 21 years [5] - The company achieved operating revenue of 735 million yuan in 2018, representing a year-on-year growth of 16.72%, and a net profit of 140 million yuan, with a year-on-year increase of 14.42% [3] Group 2: Strategic Direction - The current strategic focus is on "solidifying landscaping, expanding water services, and strengthening cultural tourism" [3] - The company emphasizes quality development and actual profit situations while accelerating cash collection [3] Group 3: Market Opportunities - The policies of the "Guangdong-Hong Kong-Macao Greater Bay Area" and "Socialist Demonstration Zone" are expected to provide broader opportunities for the company's development [4] - The company is actively participating in mature market competition, particularly in key cities such as the Beijing-Tianjin-Hebei region, Guangdong-Hong Kong-Macao Greater Bay Area, and Yangtze River Delta [3] Group 4: Financing Strategies - In 2019, the company maintained stable main business operations and achieved reasonable growth in total financing while maintaining a balanced debt ratio [4] - The company is optimizing its financing structure and increasing support from state-owned policy banks and large state-owned commercial banks [4] Group 5: Future Development Strategy - Future strategies will focus on ecological environment construction and restoration, water environment governance, and cultural tourism, aiming to enhance the water and cultural tourism sectors [5] - The company plans to build a solid foundation for the entire industry chain by leveraging professional group management and continuous development of related industries [5]

Group 1: Company Strategy and Development - The company began a strategic transformation in the second half of 2018, focusing on reducing high-risk businesses and promoting the development strategy of "solidifying landscaping, expanding water services, and strengthening cultural tourism" [3] - In 2019, the company adopted a more prudent development approach, shifting from "competing for projects" to "selecting projects," concentrating on coastal areas like the Yangtze River Delta and Pearl River Delta, while controlling project initiation conditions to pursue stable profit margins and good cash flow [3] - The company aims to develop into a national group integrating ecological environment and landscaping, cultural tourism, and investment operations, focusing on three major business sectors: ecological environment construction and restoration, water services, and cultural tourism [4] Group 2: Financial Performance and Funding - In 2019, the company maintained stable main business operations, achieving reasonable growth in total financing while maintaining a balanced debt ratio [4] - The company is optimizing its financing structure and increasing support from state-owned policy banks and large state-owned commercial banks, which provide substantial credit limits, long terms, and low interest rates, ensuring reliable funding for overall development [4] - Future plans include using various financing methods to reduce costs, optimize debt structure, and gradually lower the debt ratio to support rapid business development [4] Group 3: Policy Impact and Market Opportunities - The company is committed to contributing to the construction of a beautiful China and supporting the ecological development and green rise of the Guangdong-Hong Kong-Macao Greater Bay Area and the socialist demonstration zone with Chinese characteristics [3] - The ongoing implementation of policies related to the Greater Bay Area and the Shenzhen demonstration zone is expected to create broader opportunities for the company's future operations [3] Group 4: Potential for Spin-off Listing - The company is actively researching the feasibility of related policies and operations regarding a potential spin-off listing, although the relevant supporting rules have not yet been officially released, indicating some uncertainty [5] - Financial data for the years 2016-2018 has been disclosed in detail in the company's annual reports, providing transparency to investors [5]

Group 1: Business Performance - In 2018, the ecological environment construction and restoration business generated revenue of 4.299 billion CNY, a year-on-year increase of 40.59%, accounting for approximately 49% of total revenue [3] - The water and environmental governance business achieved revenue of 3.150 billion CNY, with a remarkable year-on-year growth of 279.89%, contributing about 36% to total revenue [3] - The cultural tourism business reported revenue of 1.392 billion CNY, representing about 16% of total revenue [3] - The overall operating profit distribution among the three business segments is approximately 3:4:3 [3] Group 2: Future Strategies - The company aims to expand its water services, solidify its landscaping business, strengthen cultural tourism, and enhance design capabilities [3] - Future initiatives will focus on improving quality and efficiency, emphasizing actual profit, and accelerating cash collection [3] - Key areas for business development include urban cultural tourism complexes, EPC projects, and new rural projects, with a focus on major cities such as Beijing-Tianjin-Hebei, Guangdong-Hong Kong-Macao Greater Bay Area, Yangtze River Delta, and Chengdu-Chongqing [3] Group 3: Subsidiary Performance - Subsidiary Hengrun Group achieved a performance completion rate of 152% in 2018, with revenue of 131.84 million CNY [4] - Lingnan Water Group completed its performance with a rate of 102%, generating revenue of 79.65 million CNY [4] - Demaji achieved a performance completion rate of 105%, with revenue of 44.53 million CNY [4] Group 4: Virtual Reality Business - Hengrun Group, a key subsidiary, is involved in theme cultural creative design and has successfully applied VR products in multiple cultural tourism projects [4] - Demaji, another subsidiary, focuses on global brand creative marketing and has VR-related services, including the MJ holographic concert tour [4] Group 5: Corporate Governance - The company adheres to regulations such as the Shenzhen Stock Exchange's guidelines for small and medium-sized enterprises, ensuring no significant undisclosed information leaks occurred during the investor relations activities [5]

Group 1: Company Overview and Strategic Direction - Lingnan Ecological Culture Tourism Co., Ltd. began its strategic transformation in the second half of 2018, focusing on reducing high-risk businesses and promoting the development strategy of "solidifying landscaping, expanding water services, and strengthening cultural tourism" [3] - In the first half of 2019, the company shifted from "competing for projects" to "selecting projects," concentrating on coastal areas like the Yangtze River Delta and Pearl River Delta, while controlling project commencement conditions to pursue stable profit margins and good cash flow [3] Group 2: Financial Performance - For the first half of 2019, the company achieved operating revenue of CNY 3.304 billion, with a net profit attributable to shareholders of CNY 209 million [3] - The ecological environment construction and restoration business generated revenue of CNY 1.494 billion, with a gross profit of CNY 373 million and a net profit of CNY 46 million [3] - The water environment governance business reported revenue of CNY 1.315 billion, with a gross profit of CNY 278 million and a net profit of CNY 88 million [3] - The cultural tourism business achieved revenue of CNY 495 million, with a gross profit of CNY 211 million and a net profit of CNY 82 million [3] Group 3: Future Development Plans - In the second half of 2019, the company plans to continue advancing its development strategy of "solidifying landscaping, expanding water services, and strengthening cultural tourism" [3] - The cultural tourism industry is expected to benefit from improved policies and development environments, with the government encouraging the creation of small and thematic cultural tourism products [4] - The company aims to push more projects to fruition in the third and fourth quarters of 2019 to meet annual targets [4] Group 4: Financing and Debt Management - In the first half of 2019, the company maintained stable main business operations and achieved a total financing amount that grew steadily, while keeping a balanced debt ratio [5] - The company is optimizing its financing structure and increasing support from state-owned policy banks and large commercial banks, which provide substantial credit limits and favorable terms [5] - Future plans include using various financing methods to reduce costs and optimize debt structure, gradually lowering the debt ratio to support rapid business development [5] Group 5: Business Expansion and Strategic Focus - The company emphasizes quality and efficiency in business development, focusing on urban cultural tourism complexes, EPC projects, and new rural projects [6] - The strategic focus will be on ecological environment construction and restoration, water environment governance, and cultural tourism, aiming to enhance profitability in these sectors [6] - The company plans to leverage its strengths in various sectors to create a solid foundation for a comprehensive industry chain and provide high-quality operational services [6]

Business Overview - Lingnan Co. focuses on two strategic directions: "Ecology + Cultural Tourism," aiming to enhance urban and rural quality through three core businesses: ecological environment construction, water management, and cultural tourism [1] - The company has a full industry chain capability in ecological environment construction, covering design, urban landscaping, rural landscape, municipal engineering, and smart city projects [1] - In water management, the company operates across urban water supply, water conservancy projects, and ecological water environment, encompassing R&D, planning, design, investment, construction, and operation [1] Core Competencies - The company possesses strong professional capabilities with various qualifications, including first-class qualifications in water conservancy construction and national-level landscape engineering design [2] - It has a deep synergy across its two main businesses and three sectors, enhancing its comprehensive competitiveness in response to market challenges [2] - Continuous management innovation is emphasized, with a focus on optimizing operations and talent management [2] - The company invests in R&D, holding 436 authorized patents and 55 high-tech products as of June 2022, with its environmental testing center achieving national laboratory recognition [2] Subsidiary Operations - The subsidiary Hengrun Group specializes in high-end equipment and integrated systems for cultural tourism projects, focusing on immersive entertainment technology [3] - Hengrun Group's main products include VR systems and multimedia technology, providing services for various venues such as theme parks and museums [3] Impact of State-Owned Capital - The potential acquisition by the Torch District Management Committee will enhance the company's operational capabilities, with the new controlling entity having a registered capital of 5.6 billion CNY and total assets of 33.6 billion CNY [4] - This partnership is expected to optimize the company's equity structure and promote the integration of state-owned and private capital, enhancing resource sharing and innovation [4] Tourism Sector Development - Lingnan Co. is involved in various aspects of cultural tourism, including planning, design, investment, and operation of theme parks and scenic spots [5] - The company has participated in notable projects across China, such as the Huangyao Ancient Town and the Meishan Scenic Area, and aims to recover from pandemic impacts on its tourism revenue [5] Compliance and Communication - The company adheres to regulatory guidelines during investor relations activities, ensuring no significant undisclosed information leaks [5] - Investors are encouraged to follow the company's updates through its official WeChat account and investor hotline [5]

Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 150 million, up 10% compared to the same period last year[18]. - The company's operating revenue for the first half of 2022 was ¥1,024,827,010.79, a decrease of 55.72% compared to the same period last year[24]. - The net profit attributable to shareholders was -¥178,904,776.62, representing a decline of 589.84% year-on-year[24]. - The diluted earnings per share for the reporting period was -¥0.1062, compared to ¥0.02 in the previous year, reflecting a 650% decline[24]. - The company's total revenue for the reporting period was ¥1,024,827,010.79, a decrease of 55.72% compared to ¥2,314,616,349.55 in the same period last year, primarily due to the impact of recurring COVID-19 outbreaks and delays in project progress[46]. - The net profit for the first half of 2022 was a loss of CNY 179,394,963.16, compared to a profit of CNY 39,127,221.81 in the first half of 2021[170]. - The total comprehensive income for the first half of 2022 was a loss of CNY 179,376,824.57, compared to a profit of CNY 39,168,871.52 in the same period of 2021[170]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% growth in that region by the end of 2023[18]. - The company plans to focus on the Guangdong-Hong Kong-Macao Greater Bay Area, Chengdu-Chongqing Economic Circle, and Yangtze River Delta Economic Circle for business development[39]. - The company aims to enhance cash collection efforts and optimize its capital structure to improve risk resistance[39]. - The company plans to expand its market presence by focusing on high-quality projects in the ecological and cultural tourism sectors, aiming to enhance operational efficiency and profitability[72]. - The company is exploring new strategic partnerships to enhance its product distribution channels[119]. Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at enhancing user experience[18]. - Research and development investment was ¥51,504,168.09, down 40.52% from ¥86,589,171.69, mainly due to reduced input in some R&D projects caused by the pandemic[46]. - Research and development investments increased by 25%, focusing on sustainable technologies[119]. - The company has established 2 academician workstations and 2 scientific research institutes, and holds a total of 436 authorized patents, indicating a strong commitment to innovation[43]. Operational Challenges - The pandemic significantly impacted the cultural tourism segment, leading to reduced orders and operational challenges[38]. - The management highlighted potential risks including market competition and regulatory changes, with strategies in place to mitigate these risks[6]. - The company is committed to addressing the ongoing impacts of the COVID-19 pandemic on its operations, particularly in the cultural tourism sector[70]. - The company faced risks related to accounts receivable recovery, with a large balance due to long credit cycles and potential delays in project settlements[71]. - The company is actively addressing liquidity risks due to reliance on bank loans, emphasizing the need for effective cash flow management and exploring alternative financing options[76]. Financial Position and Cash Flow - The total assets at the end of the reporting period were ¥17,694,956,816.01, down 7.29% from the end of the previous year[24]. - As of the end of the reporting period, cash and cash equivalents amounted to CNY 1,070,730,930, representing 6.05% of total assets, a decrease of 1.97% from the previous year[50]. - The company's cash and cash equivalents decreased significantly, impacting liquidity and operational flexibility[166]. - The net cash flow from operating activities improved to ¥7,028,528.11, a 100.67% increase from -¥1,051,174,643.26 in the previous year[24]. - The total current assets amounted to CNY 11,130,586,346.45, a decrease of 10.7% from CNY 12,461,492,283.64 on January 1, 2022[160]. Shareholder and Equity Information - The company has not distributed cash dividends for this fiscal year, focusing on reinvestment for growth[7]. - The company has not engaged in any securities or derivative investments during the reporting period[54][55]. - The total approved guarantee amount for subsidiaries reached CNY 1,336,119.91, with an actual guarantee balance of CNY 529,344.91 at the end of the reporting period, representing 113.59% of the company's net assets[121]. - The company has implemented a share repurchase program, although specific details were not disclosed in the report[132]. - The total number of common shareholders at the end of the reporting period is 91,991[136]. Project Investments and Developments - The total investment amount for the project in Lushanshi is 64,792 million, with a completion rate of 55.25% as of October 31, 2022[61]. - The total investment amount for the project in Xinzheng City is 6,700 million, achieving a completion rate of 100.01% by June 30, 2022[62]. - The project in Beihai City has a total investment of 11,255.1 million, with a completion rate of 99.91% as of December 31, 2022[62]. - The company has committed to invest CNY 101,747,000.00 in various projects, with a total investment of CNY 72,670,200.00[63]. - The company has replaced CNY 345,899,608.11 of self-raised funds with raised funds for investment projects as of June 30, 2022[64]. Corporate Social Responsibility - The company has received recognition for its corporate social responsibility efforts, including participation in poverty alleviation and community support activities, such as the "Guangdong Poverty Alleviation Day" and educational assistance programs[91]. - Lingnan's efforts in building "Beautiful Villages" have enhanced community happiness, exemplified by the successful design and construction of the Tangwei Village project, which was recognized as a "Cultural and Tourism Characteristic Village" in Guangdong Province[89]. - The company has actively participated in the Dongguan Rural Revitalization Promotion Association, facilitating collaboration among local enterprises to support rural revitalization initiatives[90].

2021 岭南生态文旅股份有限公司 年度报告 1 岭南生态文旅股份有限公司 2021 年年度报告全文 岭南生态文旅股份有限公司 2021 年年度报告 2022 年 04 月 2 岭南生态文旅股份有限公司 2021 年年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人尹洪卫、主管会计工作负责人刘玉平及会计机构负责人(会计主 管人员)刘玉平声明：保证本年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺， 存在一定的不确定性，投资者及相关人士应对此保持足够的风险认识，并且应 当理解计划、预测与承诺之间的差异。 一、载有公司负责人、主管会计工作负责人、会计机构负责人签名并盖章的财务报表 二、载有会计师事务所盖章、注册会计师签名并盖章的审计报告原件 三、报告期内在中国证监会指定网站上公开披露过的所有公司文件的正本及公告的原稿 四、其他相关资料 报告期内，不存在对公司经营产 ...