CYTS(600138)2025-04-03 13:10Financial Performance - The company's operating revenue for 2024 reached ¥9,956,818,409.65, an increase of 3.34% compared to ¥9,634,839,565.77 in 2023[19]. - The net profit attributable to shareholders for 2024 was ¥160,449,900.56, a decrease of 17.29% from ¥193,997,395.84 in 2023[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥101,130,628.10, down 22.31% from ¥130,170,525.76 in 2023[19]. - The cash flow from operating activities for 2024 was ¥282,668,361.07, a significant decrease of 69.29% compared to ¥920,485,743.89 in 2023[19]. - The total assets at the end of 2024 amounted to ¥17,691,336,640.63, reflecting a 2.34% increase from ¥17,286,872,735.63 in 2023[19]. - The net assets attributable to shareholders at the end of 2024 were ¥6,308,173,517.11, an increase of 1.51% from ¥6,214,054,394.37 in 2023[19]. - Basic earnings per share for 2024 were ¥0.221665, down 17.29% from ¥0.268011 in 2023[20]. - The weighted average return on equity for 2024 was 2.56%, a decrease of 0.61 percentage points from 3.17% in 2023[20]. Visitor Statistics - The Wuzhen scenic area received 7.4338 million visitors, with the East and West scenic areas receiving 2.1305 million and 5.3033 million visitors respectively[29]. - The Gubei Water Town received 1.2984 million visitors, a year-on-year decrease of 14.78%, with operating revenue of 555 million RMB, down 24.46%[33]. - The number of inbound tourists in 2024 reached 64.88 million, a year-on-year growth of 82.9%[1]. - The number of outbound tourists increased to 291 million, reflecting a year-on-year growth of 41.3%[1]. Business Strategy and Development - The company plans to enhance the Wuzhen scenic area's competitiveness through innovative events and improved facilities[32]. - The company focuses on high-quality development in five areas: digital, culture, ecology, quality, and safety[27]. - The company has established a differentiated business model centered on cultural tourism destination investment and management[28]. - The company aims to strengthen its brand influence and customer service capabilities as a leading comprehensive cultural tourism service provider[27]. - The company is actively expanding its business model by integrating government, market, and product resources to support local government development initiatives[36]. - The company plans to focus on market expansion and new product development as part of its future strategy[75]. Financial Management and Investments - The company reported a significant increase in non-current asset disposal gains, amounting to approximately 119 million RMB in 2024[24]. - The company’s investment activities generated a net cash outflow of 233.96 million RMB, primarily due to increased payments for construction projects[58]. - The company’s research and development expenses increased by 77.45% to 13.74 million RMB, primarily due to increased investment in system development projects[57]. - The total R&D investment amounted to CNY 22,672,356.63, representing 0.23% of total revenue, with 39.38% of the R&D costs capitalized[67]. Risk Management and Compliance - The company has identified potential risks in its future development strategies, which are detailed in the board report[8]. - The company has established comprehensive emergency mechanisms to mitigate risks from natural disasters and pandemics[90]. - The company adheres to strict corporate governance practices, ensuring transparency and compliance with regulations[93]. - The company has implemented effective internal control measures, with no significant deficiencies reported in financial reporting[97]. Shareholder Information - The company plans to distribute a cash dividend of ¥0.70 per 10 shares, totaling ¥50,668,800.00, subject to shareholder approval[6]. - The company has a three-year shareholder return plan for 2024-2026, indicating a commitment to returning value to shareholders[102]. - The total cash dividends over the last three accounting years amounted to CNY 112,195,200.00[132]. Employee and Management Structure - The company employed a total of 6,095 staff, including 170 in the parent company and 5,925 in major subsidiaries[123]. - The company has established a performance-oriented compensation system that combines basic salary, performance pay, benefits, and long-term incentives[124]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 6.22 million[103]. Environmental and Social Responsibility - The company invested 0 million yuan in environmental protection during the reporting period, indicating no direct involvement in environmental protection activities[138]. - The company reduced carbon emissions by 380 tons through various green management initiatives and participation in eco-friendly events[140]. - A total of 31.94 million yuan was invested in social responsibility projects, including educational support and disaster relief efforts[143]. - The company is actively promoting agricultural integration projects, with 3,200 acres of land under cultivation, expected to yield over 560,000 kg of grain[146]. Audit and Financial Reporting - The company’s financial statements were audited and deemed to fairly reflect its financial position as of December 31, 2024[184]. - The audit identified key audit matters, including the assessment of internal controls related to accounts receivable and inventory, which are vital for ensuring the integrity of financial reporting[186][187]. - The company plans to appoint Lixin Certified Public Accountants as the auditing firm for the 2024 financial statements and internal control audits[116].