*ST西域(300859) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was CNY 303,712,158.87, a decrease of 0.51% compared to CNY 305,259,432.30 in 2023[18]. - The net profit attributable to shareholders for 2024 was CNY 86,513,122.41, down 18.06% from CNY 105,583,391.05 in 2023[18]. - The net cash flow from operating activities decreased by 22.90% to CNY 115,937,216.93 in 2024 from CNY 150,366,030.87 in 2023[18]. - Basic earnings per share for 2024 were CNY 0.56, a decline of 17.65% compared to CNY 0.68 in 2023[18]. - Total assets at the end of 2024 reached CNY 1,090,237,415.00, an increase of 39.37% from CNY 782,260,679.80 at the end of 2023[18]. - The net assets attributable to shareholders increased by 5.58% to CNY 757,588,138.92 at the end of 2024 from CNY 717,532,990.69 at the end of 2023[18]. - The company reported a weighted average return on equity of 11.79% for 2024, down from 15.88% in 2023[18]. Revenue Breakdown - Main tourism revenue accounted for CNY 294,805,943.81, representing 97.07% of total revenue, down 0.72% from CNY 296,947,415.54 in 2023[41]. - Revenue from tourism passenger transport increased by 0.90% to CNY 195,385,615.07, making up 64.33% of total revenue[41]. - Revenue from cableway transportation decreased by 21.34% to CNY 46,380,236.77, which accounted for 15.27% of total revenue[41]. - Revenue from cruise services increased by 30.57% to CNY 44,185,231.69, representing 14.55% of total revenue[41]. Operational Challenges - The company faced a net loss in the first and fourth quarters of 2024, with a net profit of CNY 85,942,850.40 in the third quarter[20]. - The gross profit margin for the main tourism business was 55.80%, a decrease of 5.37% compared to the previous year[43]. - Direct labor costs in the tourism sector rose by 21.64% to CNY 64,766,396.30, accounting for 48.02% of total operating costs[49]. - Depreciation and amortization costs increased by 42.86% to CNY 30,439,182.40, representing 22.57% of total operating costs[49]. Investment and Financing - The company has signed significant sales contracts, with a total contract value of CNY 1,927.87 million, of which CNY 1,271.01 million has been fulfilled[45]. - Investment cash inflow skyrocketed by 386,856.00% to ¥3,869,560.03, due to cash dividends received from associates and proceeds from scrapped vehicles[57]. - Financing cash inflow increased by 1,411.72% to ¥135,147,358.44, reflecting new investments from minority shareholders and long-term loans[57]. Governance and Compliance - The company emphasizes the importance of high-quality governance and compliance with legal regulations to support sustainable development[102]. - The company maintains independence from its controlling shareholder, ensuring that major decisions are made by the shareholders' meeting[103]. - The company has established a complete and independent business system, capable of independently formulating product marketing strategies without reliance on shareholders or related parties[111]. - The company has a financial management system that complies with the Accounting Law and Accounting Standards of the People's Republic of China, ensuring independent financial decision-making[112]. Shareholder Relations - The company plans to distribute a cash dividend of CNY 3.00 per 10 shares based on a total share capital of 155,000,000 shares as of December 31, 2024[3]. - The cash dividend distribution represents 100% of the total profit distribution amount, aligning with the company's profit distribution policy[152]. - The company has not proposed any stock dividends or capital reserve transfers for the current fiscal year[154]. Risk Management - The company acknowledges potential risks from natural disasters and government pricing adjustments, implementing measures to mitigate these impacts[94]. - The company is addressing operational risks by diversifying its revenue sources beyond the Tianshan Tianchi scenic area[93]. - The company has outlined potential risk factors and countermeasures in its future development outlook section[3]. Employee Management - The total number of employees at the end of the reporting period is 674, including 449 from the parent company and 225 from major subsidiaries[146]. - The company emphasizes training and development, with spring training focusing on safety knowledge, multimedia marketing, internal control systems, and professional skills[149]. - The company implements a full labor contract system and pays social insurance, housing provident fund, and corporate annuity for employees[148]. Legal Matters - The company is currently involved in a lawsuit with Shenzhen Huanqiu International, with a claim amounting to 3.3042 million yuan[196]. - The court has frozen Tianchi Guolv's bank accounts with a total of 867,854.90 CNY as part of the asset preservation request by Shenzhen Hangyou[200]. - The company is pursuing legal action to ensure compliance with the contractual obligations and recover outstanding payments[199].