长白山(603099) - 2020 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for 2020 was -55,785,352.56 CNY, with distributable profits amounting to 383,129,690.07 CNY[4] - The company will not distribute cash dividends for the year 2020, opting to retain undistributed profits for operational and investment needs[4] - In 2020, the company's operating revenue was CNY 147,596,718.85, a decrease of 68.41% compared to CNY 467,196,177.44 in 2019[22] - The net profit attributable to shareholders was a loss of CNY 55,785,352.56 in 2020, down 174.12% from a profit of CNY 75,259,381.62 in 2019[22] - The basic earnings per share in 2020 was -0.21 CNY, a decrease of 175% compared to 0.28 CNY in 2019[22] - The weighted average return on equity decreased by 12.52 percentage points to -5.32% in 2020 from 7.20% in 2019[22] - The total assets at the end of 2020 were CNY 1,208,171,080.30, down 8.17% from CNY 1,315,694,562.31 at the end of 2019[22] - The net cash flow from operating activities was -8,572,988.38 CNY in 2020, a decline of 106.94% from CNY 123,503,823.29 in 2019[22] - The company reported a total of CNY 5,108,723.58 in non-recurring gains and losses for 2020[26] - The company experienced a significant decline in net profit, with a loss of CNY 16,084,131.86 in Q4 2020, compared to a profit in previous quarters[24] Operational Strategy - The company is focusing on enhancing its operational strategies and market expansion efforts in the coming year[4] - The company has outlined potential risks in the "Discussion and Analysis of Operating Conditions" section of the annual report[4] - The company has exclusive operating rights for transportation in three scenic areas of Changbai Mountain, enhancing its competitive advantage in tourism transportation[32] - The hotel management segment, in collaboration with InterContinental Hotels Group, has established the Crowne Plaza brand, which has become a landmark hotel in the region[32] - The company is actively developing new hot spring projects to align with post-pandemic tourism market demands[37] - The company is focusing on developing a diverse range of tourism products, including sports, wellness, and educational tourism, to meet changing market demands[62] - The company aims for a revenue target of 348.78 million CNY and a net profit of 17.35 million CNY for 2021, focusing on resource integration and service quality improvement[62] Financial Management - The company has not indicated any plans for capital reserve transfers to increase share capital for 2020[4] - The company has committed to not engaging in similar business activities as its controlling shareholders, ensuring no competition arises[74] - The company will support the repurchase of shares to stabilize stock prices and fulfill obligations related to increasing holdings in the company's stock[82] - The company will initiate a buyback program within five trading days if the prospectus is found to contain false statements or omissions, with the buyback price based on the market price at that time[86] - The company will compensate investors for any losses caused by violations of commitments[92] - The company will ensure that any earnings from violations will be returned to the company, compensating for any losses incurred by investors[94] Governance and Compliance - The company has implemented a comprehensive management system to ensure safety and service standards, positioning itself as a leader in scenic area management[32] - The company is enhancing its governance structure to improve decision-making and ensure compliance with financial management regulations[62] - The company has appointed independent directors with extensive backgrounds in finance and law to strengthen governance[140] - The company adheres to the governance requirements set by the China Securities Regulatory Commission, ensuring effective implementation of decision-making and supervisory rights[157] - The company did not report any risks identified by the supervisory board during the reporting period[161] Social Responsibility - The company actively fulfilled social responsibilities, focusing on environmental protection and sustainable development, implementing energy-saving and pollution prevention measures[114] - The company supported 14 impoverished households in Xisan Village, achieving complete poverty alleviation without signs of relapse[114] - The company organized donation activities for employees facing severe illnesses or disasters, ensuring all employees achieved poverty alleviation[114] - The company reported zero COVID-19 infections among employees during the pandemic, showcasing effective preventive measures[114] Shareholder Information - The total number of ordinary shareholders reached 16,491 by the end of the reporting period, an increase from 16,182[121] - The largest shareholder, Jilin Province Changbai, held 158,533,060 shares, representing 59.45% of total shares, with 79,266,530 shares pledged[121] - The company has a history of cash dividend distributions, with a cash dividend of RMB 0.43 per share in 2019, amounting to RMB 11,466,810.00, representing 15.24% of the net profit attributable to shareholders[71] Audit and Internal Control - The company has reported a standard unqualified audit opinion from Xinyong Zhonghe Accounting Firm[4] - The internal control audit was also conducted by Xinyong Zhonghe Accounting Firm with a fee of 200,000 RMB[105] - The internal control audit report issued by Xinyong Zhonghe Accounting Firm confirmed that the company maintained effective financial reporting internal controls as of December 31, 2020[164] - There were no significant deficiencies in internal controls reported during the audit period[168] Market Conditions and Risks - The tourism industry is highly sensitive to macroeconomic conditions, and a slowdown in economic growth could adversely affect disposable income and tourism demand, impacting revenue and profit growth[67] - Seasonal fluctuations significantly affect the company's performance, with over 60% of annual tourist numbers and revenue concentrated in the third quarter[67] - The company faces risks related to price adjustments for transportation and heating services, which require approval from regulatory authorities, limiting its ability to respond to rising costs due to inflation[67] - The tourism industry is vulnerable to unexpected events such as natural disasters and pandemics, which can severely impact operational performance[67]