JJIT(SH:900929)2018-03-28 16:00Financial Performance - In 2017, the company's operating revenue was CNY 1,710,185,432.74, a decrease of 10.35% compared to CNY 1,907,531,142.26 in 2016[24] - The net profit attributable to shareholders was CNY 61,228,732.75, showing a slight increase of 0.15% from CNY 61,137,877.20 in the previous year[24] - The net cash flow from operating activities was CNY -53,436,817.99, an improvement from CNY -64,802,366.73 in 2016[24] - As of the end of 2017, total assets amounted to CNY 1,603,039,374.36, down 3.30% from CNY 1,657,818,410.73 at the end of 2016[24] - The company's net assets attributable to shareholders were CNY 1,147,555,643.09, a decrease of 1.74% from CNY 1,167,858,604.59 in 2016[24] - Basic earnings per share for 2017 was CNY 0.4619, a 0.15% increase compared to CNY 0.4612 in 2016[25] - The weighted average return on equity increased to 5.24% in 2017 from 5.14% in 2016, an increase of 0.10 percentage points[25] - The company reported a net profit of CNY -2,011,245.10 after deducting non-recurring gains and losses, compared to CNY -4,926,519.82 in 2016[24] - The total profit for the year was CNY 76.19 million, reflecting a growth of 3.75% compared to the previous year[47] Revenue Breakdown - The tourism and related business accounted for 98.12% of total revenue in 2017, a decrease of 0.15 percentage points from the previous year[32] - Revenue from inbound tourism increased by 36.96% to CNY 143,202,746.78, while outbound tourism revenue decreased by 23.98% to CNY 776,947,259.47[51] - The outbound tourism business saw a decline of 32.39%, with 105,200 tourists served during the reporting period[41] - Domestic tourism experienced a decline of 19.81%, with 137,600 tourists served during the reporting period[43] - The inbound tourism business showed signs of recovery, with traditional inbound group tours increasing by 32.41% to 38,400 tourists[42] Cash Flow and Investments - The company reported a net cash flow from operating activities of -CNY 32,556,630.30 in Q4 2017, indicating a significant cash outflow[26] - The investment activities generated a net cash flow of CNY 80,739,707.82, a significant increase of 199.78% compared to CNY 26,932,683.66 last year[49] - The net cash flow from investing activities for the current period is 80.74 million yuan, an increase of 53.80 million yuan compared to the same period last year[61] - The net cash flow from financing activities for the current period is -30.75 million yuan, a slight increase of 0.27 million yuan compared to the same period last year, mainly due to increased cash dividends[62] Shareholder Information - The proposed cash dividend for 2017 is CNY 2.34 per 10 shares, totaling CNY 31,018,167.18, with remaining undistributed profits of CNY 277,901,512.96 to be carried forward[5] - The company reported a cash dividend of CNY 31,018,167.18 for the year 2017, with a payout ratio of 50.66% of the net profit attributable to shareholders[101] - The total number of ordinary shareholders at the end of the reporting period is 13,634, an increase from 13,500 at the end of the previous month[131] - The largest shareholder, Shanghai Jin Jiang International Hotel (Group), holds 66,556,270 shares, representing 50.21% of total shares[133] Operational Strategies - The company emphasizes the importance of risk awareness regarding future plans and strategies, advising investors to be cautious[7] - The company is adapting to new consumer demands, focusing on high-quality, personalized travel experiences[34] - The company is focusing on product innovation and has developed new high-end travel routes, including customized tours to Israel, Jordan, and Morocco[41] - The company plans to enhance operational quality and efficiency by consolidating travel agency operations under the "Jinjiang Tourism" brand[87] - The company aims to create 1 million new jobs in the tourism sector through ongoing investment and development initiatives[89] Audit and Compliance - The audit report for the financial statements was issued by Deloitte Huayong, confirming the accuracy and completeness of the financial report[4] - The company will report government subsidies separately under "Other Income" in the profit statement starting from January 1, 2017, as per the new accounting standards[105] - The company has not encountered any significant accounting errors that require correction[109] - The company will ensure compliance with the new accounting standards for financial reporting from 2017 onwards[107] Employee and Corporate Governance - The total number of employees in the parent company is 97, while the main subsidiaries employ 890, resulting in a total of 987 employees[155] - The company has established a salary growth mechanism for its subsidiaries, conducting annual collective salary negotiations[156] - The company has implemented a training program that combines internal and external training methods[157] - The company has 3 independent directors on its board, ensuring compliance with legal requirements[161] Market Outlook - The company provided a positive outlook for 2018, projecting a revenue growth of 10% to 12%[148] - The tourism industry is expected to see over 5.7 billion domestic and inbound tourists in 2018, with total tourism revenue projected to exceed 6 trillion CNY[89] - The company is considering strategic acquisitions to bolster its market position, with a budget of 100 million allocated for potential deals[148] Social Responsibility and Customer Focus - The company has made significant strides in fulfilling its social responsibilities, particularly in consumer rights protection and employee welfare[120] - The company emphasizes employee care and has conducted nearly 100 communication activities to support reform and adjustment efforts[124] - The company maintains a focus on consumer rights protection, implementing quality management systems to ensure high service standards[122]