TIBET TOURISM(SH:600749)2018-04-26 16:00Financial Performance - Operating revenue for the period was CNY 9,908,230.91, representing a 30.97% increase year-on-year[5] - Net profit attributable to shareholders was -CNY 23,091,508.66, showing an improvement from -CNY 26,255,130.55 in the previous year[5] - Basic earnings per share improved to -CNY 0.1221 from -CNY 0.1388 year-on-year[5] - The net loss for Q1 2018 was CNY 23,483,067.65, an improvement from a net loss of CNY 26,770,590.58 in Q1 2017, representing a reduction of approximately 12.5%[35] - The company reported a total comprehensive loss of CNY 23,483,067.65 for Q1 2018, compared to a loss of CNY 26,770,590.58 in Q1 2017[36] Assets and Liabilities - Total assets increased by 35.69% to CNY 1,813,549,962.62 compared to the end of the previous year[5] - The total assets of the company reached ¥1,813,549,962.62, up from ¥1,336,494,211.69 at the beginning of the year, indicating a strong asset growth[27] - The total liabilities decreased to CNY 824,219,084.47 from CNY 896,004,382.10, indicating a reduction of about 8.0%[35] - The company's total liabilities decreased to ¥811,293,038.09 from ¥880,248,204.62, reflecting a reduction in financial obligations[27] Shareholder Information - Net assets attributable to shareholders increased by 118.67% to CNY 1,006,847,601.35 compared to the end of the previous year[5] - The total number of shareholders reached 18,979 by the end of the reporting period[9] - The top ten shareholders collectively held 24.65% of the company's shares, with the largest shareholder holding 13.18%[10] - Owner's equity increased significantly to CNY 1,066,738,125.52 from CNY 517,731,131.68, reflecting a growth of approximately 106.9%[35] Cash Flow - Net cash flow from operating activities decreased significantly by 1,385.57% to -CNY 15,531,767.64 compared to the same period last year[5] - Operating cash inflow for the current period was CNY 19,659,893.54, an increase of 48.1% from CNY 13,237,762.60 in the previous period[41] - Cash outflow from operating activities totaled CNY 35,191,661.18, up from CNY 12,029,600.77 in the previous period[41] - Cash inflow from financing activities was CNY 581,031,720.96, a substantial increase from CNY 64,716,000.00 in the previous period[42] - The net increase in cash and cash equivalents was CNY 486,005,751.98, compared to a decrease of CNY 7,982,529.74 in the previous period[42] Operational Highlights - The company's accounts receivable decreased by 48.83%, from ¥10,852,400.48 to ¥5,553,336.57, due to successful collection efforts[13][14] - The company reduced short-term borrowings by 36.71%, from ¥79,000,000.00 to ¥50,000,000.00, as a result of repaying maturing loans[13][14] - The capital reserve increased by 120.87%, from ¥439,879,411.71 to ¥971,545,810.82, reflecting the completion of the non-public issuance of shares[13][17] - The company has observed an increase in tourist numbers due to the "Winter Travel to Tibet" policy, which has positively impacted its tourism service business during the traditional off-peak season[20] Challenges and Risks - The company anticipates a significant change in net profit compared to the previous year, as it has reported consecutive years of negative net profit, which may lead to a delisting risk warning[20] - The company anticipates a potential cumulative net loss by the next reporting period due to high fixed operating costs from newly opened hotels and uncertain tourist reception numbers[21] - The company's operating revenue growth was limited due to the "Winter Travel to Tibet" policy, which resulted in lower gross margins for tourism services compared to scenic area resource development and operation[21] - The company is facing challenges in the traditional tourist peak season due to the uncertain impact of the "Winter Travel to Tibet" policy on visitor numbers[21]