TIBET TOURISM(SH:600749)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥25,387,253.27, representing a year-on-year increase of 139.69%[6]. - The net profit attributable to shareholders was -¥8,672,574.89, indicating a significant reduction in losses by approximately 62% compared to the previous period[6][9]. - The company reported a net loss of RMB 172,527,546.54 for the period ending March 31, 2023, compared to a net loss of RMB 163,854,971.65 for the same period in 2022[17]. - Net profit for Q1 2023 was a loss of ¥9,058,090.46, an improvement compared to a loss of ¥23,450,918.24 in Q1 2022, reflecting a reduction in losses by approximately 61.4%[20]. - The weighted average return on net assets was -0.8745%[6]. Cash Flow and Investments - The net cash flow from operating activities was -¥27,177,988.00, impacted by the payment of previous year's liabilities amounting to ¥20,510,000[7]. - Cash flow from operating activities in Q1 2023 was a net outflow of ¥27,177,988.00, an improvement from a net outflow of ¥32,018,403.84 in Q1 2022[21]. - Cash flow from investing activities in Q1 2023 resulted in a net outflow of ¥2,749,102.74, compared to a net outflow of ¥18,591,682.55 in Q1 2022, showing a significant reduction in investment losses[22]. - Cash flow from financing activities in Q1 2023 generated a net inflow of ¥76,527,850.04, contrasting with a net outflow of ¥83,667,590.17 in Q1 2022, indicating a positive shift in financing[22]. - The company’s investment income for Q1 2023 was ¥856,808.22, an increase from ¥499,802.56 in Q1 2022, representing a growth of approximately 71.7%[20]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,388,837,764.23, reflecting a 1.86% increase from the end of the previous year[7]. - The total liabilities of the company as of March 31, 2023, were RMB 399,567,408.49, compared to RMB 366,021,394.55 at the end of 2022, representing an increase of approximately 9.2%[17]. - The company's total equity decreased to RMB 989,270,355.74 from RMB 997,398,992.18 at the end of 2022, a decline of about 0.1%[17]. - The company’s inventory increased to RMB 7,580,884.73 from RMB 6,872,113.73 at the end of 2022, reflecting a growth of approximately 10.3%[15]. - The company’s accounts receivable rose to RMB 35,619,696.58 from RMB 32,620,945.12 at the end of 2022, an increase of about 9.2%[15]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 29,668[10]. - The top three shareholders held a combined total of 68,265,301 shares, accounting for 32.17% of the total shares[10]. - The company has adjusted its share repurchase plan to implement an employee stock ownership plan, indicating a strategic shift in capital management[15]. Operational Strategy and Market Outlook - The company is focusing on optimizing management mechanisms to enhance operational efficiency and reduce losses[9]. - The company plans to continue enhancing its product system and market channels to ensure steady recovery of annual operating performance[13]. - The company’s core scenic area visitor reception has nearly recovered to the levels of the same period in 2019, indicating a positive trend in tourism recovery[13]. Revenue and Costs - Total operating revenue for Q1 2023 was ¥25,387,253.27, a significant increase from ¥10,591,546.27 in Q1 2022, representing a growth of approximately 139.5%[19]. - Total operating costs for Q1 2023 were ¥35,443,666.70, slightly up from ¥35,369,549.98 in Q1 2022, indicating a marginal increase of 0.2%[19]. - The company experienced a 196.90% increase in taxes and surcharges due to the growth in operating revenue[9]. - The company's cash and cash equivalents reached RMB 475,323,543.59, up from RMB 428,722,784.29 at the end of 2022, indicating an increase of about 10.8%[15]. - The total cash and cash equivalents at the end of Q1 2023 were ¥420,829,449.28, up from ¥386,597,771.47 at the end of Q1 2022, reflecting an increase of approximately 8.8%[22]. - The company received cash from operating activities totaling ¥35,854,515.49 in Q1 2023, compared to ¥13,480,011.85 in Q1 2022, marking a growth of approximately 165.5%[21].