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 ...

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