JJIT(SH:900929)2014-03-26 16:00Financial Performance - The net profit for the parent company in 2013 was CNY 57,121,057.34, with a statutory surplus reserve of CNY 5,712,105.73 allocated, resulting in a total distributable profit of CNY 112,827,360.86 for shareholders[6]. - The proposed cash dividend is CNY 2.21 per 10 shares, amounting to a total distribution of CNY 29,294,935.67, leaving a retained profit of CNY 83,532,425.19 to be carried forward to the next year[6]. - The company achieved operating revenue of CNY 2,116,332,162.80 in 2013, representing a 1.43% increase compared to CNY 2,086,430,252.42 in 2012[34]. - Net profit attributable to shareholders was CNY 58,410,875.89, a significant increase of 38.63% from CNY 42,134,751.85 in the previous year[34]. - The company reported a net cash flow from operating activities of CNY 16,572,825.22, recovering from a negative cash flow of CNY -22,498,403.70 in 2012[37]. - The company’s basic earnings per share rose to CNY 0.4406, up 38.63% from CNY 0.3179 in 2012[27]. - The weighted average return on equity increased to 6.42%, up 1.67 percentage points from 4.75% in the previous year[27]. - The company’s total assets decreased by 1.71% to CNY 1,349,956,360.64 from CNY 1,373,509,615.70 in 2012[34]. - The company reported a total equity of RMB 899,985,983.43 as of December 31, 2013, down from RMB 902,326,307.06 in 2012[134]. - The company’s total comprehensive income for 2013 was RMB 18.76 million, a decrease from RMB 41.25 million in 2012 due to other comprehensive losses[142]. Tourism Business Performance - The outbound tourism business saw a 14.53% increase in participants, totaling 197,900 people in 2013[34]. - Inbound tourism participants decreased by 11.69%, totaling 86,900 people, reflecting ongoing challenges in the market[34]. - Domestic tourism participants fell by 8.93%, totaling 161,100 people, indicating a shift in consumer travel habits[35]. - Total revenue from major clients amounted to CNY 97,965,708.61, accounting for 4.63% of the company's total revenue[40]. - The cost of outbound tourism increased by 15.08% to CNY 1,090,932,052.28, representing 57.34% of total costs[40]. - Total revenue for the tourism and related business was CNY 2,079,954,839.45, with a year-on-year increase of 1.42%[47]. - Revenue from mainland China reached CNY 1,975,461,512.45, reflecting a growth of 2.83%[46]. Corporate Governance and Compliance - Deloitte Huayong Certified Public Accountants issued a standard unqualified audit report for the company[6]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[8]. - The company has not reported any violations of decision-making procedures regarding external guarantees[8]. - The company has maintained strict separation from its controlling shareholder in terms of business, personnel, assets, and finances, ensuring independent operations[107]. - The company has established a management system for insider information to prevent misuse and ensure compliance with regulations[109]. - The company has completed all rectification tasks related to corporate governance as per regulatory requirements and continues to enhance its governance practices[109]. - The company has a total of 3 independent directors on its board, ensuring compliance with legal and regulatory requirements[108]. Strategic Plans and Future Outlook - The company plans to continue expanding its outbound tourism offerings, capitalizing on the growth in this segment while addressing challenges in inbound and domestic tourism[34]. - The company aims to integrate online and offline resources, leveraging big data and cloud computing to innovate service models and product offerings[64]. - The company is committed to transforming traditional tourism operations and creating high-end tourism brands to enhance product value and economic benefits[65]. - The company anticipates that the tourism industry will benefit from favorable factors such as state-owned enterprise reforms and the Shanghai Free Trade Zone[62]. - The company recognizes the challenges posed by the rise of online travel agencies and changing consumer behaviors, necessitating strategic adjustments[63]. Employee and Management Information - The company employed a total of 1,136 staff, with 139 in the parent company and 997 in major subsidiaries[101]. - The total remuneration for the management team during the reporting period amounted to CNY 2.6015 million[93]. - The company has implemented a compensation policy that combines position salary and performance rewards, with regular assessments to ensure fairness and sustainability[102]. - The company has established a training program that includes both internal and external training, focusing on various employee needs such as onboarding and professional development[103]. - The company’s operational strategy includes a focus on expanding its workforce and enhancing management capabilities[101]. Financial Instruments and Accounting Policies - Financial assets and liabilities are initially recognized at fair value, with transaction costs directly expensed for those measured at fair value through profit or loss[178]. - The company classifies financial assets into categories such as trading financial assets, held-to-maturity investments, loans and receivables, and available-for-sale financial assets[182][184][185]. - The company assesses financial assets for impairment at each balance sheet date, recognizing impairment losses when there is objective evidence of impairment[187]. - Financial liabilities can be derecognized when the current obligation is fully or partially discharged[199]. - The company recognizes gains or losses on the derecognition of financial assets based on the difference between the carrying amount and the consideration received[192].