BTH(SH:600640)2016-04-22 16:00Financial Performance - The company's consolidated net profit attributable to shareholders for 2015 was CNY 46.25 million, a decrease of 47.26% compared to CNY 87.71 million in 2014[3]. - Operating revenue for 2015 reached CNY 3.38 billion, representing a year-on-year increase of 41.98% from CNY 2.38 billion in 2014[16]. - The basic earnings per share for 2015 was CNY 0.0864, down 47.25% from CNY 0.1638 in 2014[18]. - The company reported a net loss of CNY 18.30 million after deducting non-recurring gains and losses, compared to a profit of CNY 17.15 million in 2014, marking a significant decline[16]. - The net profit attributable to the parent company for 2015 was CNY 462.5 million, a decrease of 47.26% compared to the previous year[30]. - The gross profit margin for the company was 9.37%, reflecting a decrease of 5.82 percentage points compared to the previous year[40]. - The company reported a net cash flow from operating activities of CNY 11,938,710, representing a year-on-year increase of 134.04%[48]. - The company experienced a 52.45% increase in total costs, amounting to CNY 2,998,380,613.77 compared to the previous year[41]. Assets and Liabilities - The total assets of the company as of December 31, 2015, were CNY 3.69 billion, a slight decrease of 1.19% from CNY 3.73 billion at the end of 2014[17]. - The company's total equity attributable to shareholders was CNY 2.55 billion, reflecting a marginal increase of 0.77% from CNY 2.53 billion in 2014[17]. - The company's total assets as of December 31, 2015, amounted to 3.689 billion, a decrease of 0.44 billion (-1.19%) compared to the beginning of the period[51]. - The total liabilities decreased to ¥617,950,485.41 from ¥695,828,676.68, a reduction of approximately 11.2%[143]. - The company's accounts payable increased to ¥294,956,603.07 from ¥251,879,352.85, reflecting an increase of about 17%[143]. Cash Flow - The net cash flow from operating activities for 2015 was CNY 119.39 million, an increase of 134.04% compared to CNY 51.01 million in 2014[16]. - The cash inflow from operating activities was CNY 393,609,090.00, an increase of 55.78% year-on-year[47]. - The total cash and cash equivalents at the end of the period is 1,810,621,494.74, an increase from 890,784,393.47 at the beginning of the period[156]. - The total cash and cash equivalents at the end of the period increased to 780,137,645.65 RMB from 478,511,738.09 RMB, representing a significant increase of 63.03%[158]. Dividends - The company plans to distribute a cash dividend of CNY 0.26 per 10 shares, totaling CNY 13.92 million, which accounts for 30.09% of the net profit attributable to shareholders[3]. - The cash dividend policy requires that the total cash dividends distributed should not be less than 30% of the net profit attributable to shareholders[72]. - The company distributed a cash dividend of 0.50 RMB per 10 shares, totaling 26,768,227.20 RMB, which accounted for 30.52% of the net profit attributable to the parent company in 2014[72]. Business Segments - The travel booking segment generated revenue of CNY 563 million, a decline of 62.02% year-on-year, primarily due to the transfer of product booking sales to Shanghai Guomai Industrial Co., Ltd.[30]. - The hotel operations and management business reported revenue of CNY 596 million, showing a slight increase year-on-year[31]. - The points operation business achieved revenue of CNY 402 million, a significant increase of 149.51% year-on-year[31]. Market and Industry Trends - The online travel market in China grew significantly, with a market transaction scale reaching 122.23 billion in Q3 2015, a year-on-year increase of 56.75%[52]. - The online travel market is expected to reach 352.38 billion in 2015, with a year-on-year growth of 25.9%[53]. - The hotel industry has faced challenges, with mid-range hotel revenues significantly declining due to macroeconomic factors and consumption restrictions, although there has been a slight recovery since 2015[62]. Corporate Governance - The company has not faced any major litigation or bankruptcy restructuring issues during the reporting period, indicating a stable operational environment[80]. - The company has maintained a consistent relationship with its auditors, with the current auditing firm engaged for four years and receiving a remuneration of 100,000 RMB[79]. - The company has established a strict internal control and risk management system to ensure compliance with relevant regulations and protect shareholder interests[126]. Strategic Initiatives - The company is actively pursuing market expansion in international air tickets and corporate travel sectors[32]. - The company aims to transform its business travel services from simple booking to comprehensive travel solutions, including insurance products and one-stop travel services[66]. - The company plans to enhance its OPO strategy, focusing on customer engagement and expanding its points business, aiming for significant growth in this area[64]. Shareholder Information - The largest shareholder, China Telecom Group Company, holds 200,764,934 shares, representing 37.50% of total shares[102]. - The top ten shareholders include a mix of state-owned entities and individuals, with the largest three being state-owned[103]. - The controlling shareholder is China Telecom Group Company, which holds a 70.89% stake in China Telecom Co., Ltd.[105]. Employee and Management - The total number of employees in the parent company is 82, while the total number of employees in major subsidiaries is 2,359, resulting in a combined total of 2,441 employees[121]. - The total remuneration for the board members and senior management during the reporting period amounted to 2.434 million yuan[113]. - The company emphasizes a market-oriented approach for employee compensation, linking salaries to job performance and responsibilities[122]. Financial Reporting and Compliance - The financial statements are prepared based on the going concern assumption, indicating sufficient resources for the next 12 months[178]. - The financial statements comply with the requirements of the Accounting Standards for Business Enterprises, reflecting the financial position as of December 31, 2015[180]. - The group classifies joint arrangements into joint operations and joint ventures based on rights and obligations, considering structure, legal form, and contractual terms[192].