JJIT(SH:900929)2017-03-29 16:00Financial Performance - In 2016, the company's operating revenue was CNY 1,907,531,142.26, a decrease of 16.34% compared to CNY 2,280,187,322.60 in 2015[18] - The net profit attributable to shareholders was CNY 61,137,877.20, showing a slight increase of 0.63% from CNY 60,752,458.26 in the previous year[18] - The net profit after deducting non-recurring gains and losses was CNY -4,926,519.82, indicating a significant decline from CNY 22,058,347.30 in 2015[18] - The net cash flow from operating activities was CNY -64,802,366.73, worsening from CNY -30,553,566.86 in 2015[18] - As of the end of 2016, the total assets amounted to CNY 1,657,818,410.73, down 7.68% from CNY 1,795,795,701.68 in 2015[18] - The net assets attributable to shareholders decreased to CNY 1,167,858,604.59, a decline of 7.98% from CNY 1,269,072,888.25 in the previous year[18] - Basic earnings per share for 2016 was CNY 0.4612, an increase of 0.63% compared to CNY 0.4583 in 2015[20] - The weighted average return on equity rose to 5.14% in 2016, up by 0.23 percentage points from 4.91% in 2015[20] - The company’s operating profit rose to CNY 6,587,850, an increase of 4.15% year-on-year, while the total profit reached CNY 7,343,940, up 8.17%[42] - The company reported a significant decline in comprehensive income, totaling RMB (70,827,249.66) in 2016 compared to RMB 107,200,740.63 in 2015[144] Dividends and Shareholder Returns - The company proposed a cash dividend of CNY 2.32 per 10 shares, totaling CNY 30,753,054.64, based on a total share capital of 132,556,270 shares[2] - The company reported a cash dividend of 30,753,054.64 RMB for the year 2016, representing 50.30% of the net profit attributable to ordinary shareholders[78] - The company distributed dividends totaling RMB 30,487,942.10 in 2016, compared to RMB 29,427,491.94 in 2015, indicating a slight increase in shareholder returns[156] Revenue Sources and Business Segments - The company’s tourism and related business accounted for 98.27% of total operating revenue in 2016, a slight decrease of 0.23 percentage points from the previous year[30] - The outbound tourism segment reported 15.56 million trips, a decline of 9.60% year-on-year, while inbound tourism saw 5.88 million trips, down 22.14%[37] - Domestic tourism increased to 17.16 million trips, reflecting a growth of 12.04% compared to the previous year[38] - The revenue from the company's mainland China operations decreased by 16.93% year-on-year, accounting for 94.28% of total operating revenue, a decrease of 0.44 percentage points compared to the previous year[48] - The company's other business revenue decreased by 18.42% year-on-year, accounting for 0.40% of total operating revenue, with no significant changes compared to the previous year[47] Cash Flow and Financial Stability - The net cash flow from operating activities for the reporting period was -CNY 64,802,400, a decrease of CNY 34,248,800 compared to the previous year, mainly due to reduced operating income and increased accounts receivable[52] - The net cash flow from investing activities was CNY 26,932,700, a decrease of CNY 117,336,400 compared to the previous year, primarily due to reduced cash received from investments and increased cash paid for investments[53] - The net cash flow from financing activities was -CNY 30,487,900, an increase in outflow of CNY 1,060,400 compared to the previous year, mainly due to increased cash dividends paid[54] - The cash inflow from operating activities was RMB 435,074,795.95 in 2016, down from RMB 512,810,346.81 in 2015, indicating a decline in sales performance[153] Risks and Challenges - The company has acknowledged potential risks in its annual report, urging investors to pay attention[5] - The company faces risks including industry sensitivity to political and economic events, operational risks related to accounts receivable, and currency fluctuation risks[73] Corporate Governance and Compliance - The company has engaged Deloitte Huayong as its auditor, with an audit fee of 930,000 RMB for the year[82] - There were no significant lawsuits or arbitration matters involving the company during the reporting period[82] - The company has not disclosed any stock incentive plans or employee stock ownership plans during the reporting period[83] - The company has committed to maintaining independence in its operations and ensuring the integrity of its financial practices[79] - The company strictly adheres to the requirements of the Company Law and relevant regulations regarding corporate governance[119] Employee and Management Information - The total number of employees in the parent company and major subsidiaries is 1,016, with 123 in the parent company and 893 in subsidiaries[110] - The company has established a salary growth mechanism for its subsidiaries, conducting annual collective salary negotiations[111] - The training program combines internal and external training, creating a tiered management and training system[112] - The company emphasizes a salary policy based on labor distribution, efficiency, fairness, and sustainable development[111] Future Outlook and Strategic Plans - The company plans to enhance its high-end medical tourism offerings through a strategic partnership with Shanghai Proton and Heavy Ion Hospital[39] - The company aims to support its subsidiaries in innovating business models and enhancing operational excellence, focusing on six key areas[69] - The company plans to optimize its business model through offline integration and online construction, enhancing its travel agency operations[68] - The tourism industry is projected to grow with an annual increase of approximately 10% in domestic travel and a total tourism revenue growth of over 11% annually[65]