JHT(SH:603199)2021-07-29 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 248,103,768.34, representing a 222.52% increase compared to CNY 76,926,765.21 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was CNY 52,830,659.96, a significant turnaround from a loss of CNY 31,454,032.10 in the previous year, marking a 267.96% increase[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 45,495,301.04, compared to a loss of CNY 36,548,652.37 in the same period last year, reflecting a 224.48% increase[17]. - The net cash flow from operating activities was CNY 48,794,618.36, a recovery from a negative cash flow of CNY 78,381,835.63 in the previous year, indicating a 162.25% improvement[17]. - Basic earnings per share increased to 0.4773 CNY, a 267.95% increase compared to the same period last year[18]. - Weighted average return on equity rose to 4.20%, an increase of 6.85 percentage points year-on-year[18]. - The company achieved operating revenue of 248.1 million RMB, a year-on-year increase of 222.52%[36]. - The net profit for the period was 52.83 million RMB, reflecting a year-on-year growth of 267.96%[36]. - The cash flow from operating activities showed a net increase of 162.25%, reaching 48.79 million RMB[36]. - The total profit for the first half of 2021 was CNY 59.11 million, compared to a loss of CNY 34.75 million in the same period of 2020, showcasing a strong recovery[90]. Assets and Liabilities - As of the end of the reporting period, the net assets attributable to shareholders were CNY 1,266,135,177.90, up 2.80% from CNY 1,231,624,160.24 at the end of the previous year[17]. - Total assets at the end of the reporting period were CNY 1,453,460,675.18, reflecting a 1.30% increase from CNY 1,434,839,417.77 at the end of the previous year[17]. - The company reported a significant increase in accounts receivable by 642.84%, amounting to 11.99 million RMB[39]. - The intangible assets increased by 47.92%, totaling 148.94 million RMB, primarily due to the impact of the newly acquired subsidiary[39]. - Total liabilities decreased to CNY 187,325,497.28 from CNY 203,215,257.53, a reduction of about 7.8%[79]. - Current assets totaled CNY 498,927,478.13, down from CNY 574,455,793.78 at the end of 2020, representing a decrease of about 13.2%[78]. - Non-current assets increased to CNY 954,533,197.05 from CNY 860,383,623.99, marking an increase of approximately 10.9%[78]. Investments and Acquisitions - The company acquired 100% equity of Chizhou JiuHuaShan Hongyuan Tourism Development Co., Ltd., impacting investment cash flow negatively by 390%[36]. - The company acquired 100% equity of Chizhou JiuHua Mountain Hongyuan Tourism Development Co., Ltd. for RMB 104.82 million in January 2021[42]. - The company acquired 100% equity of Jiuhua Mountain Hongyuan Tourism Development Co., Ltd. for 104,821,300 RMB on January 7, 2021[64]. - The company acquired 100% equity of Chizhou Ping Tian Tourism Development Co., Ltd. for 10,482.13 million RMB in January 2021[114]. Market and Business Strategy - The tourism market is showing steady recovery due to effective pandemic control, with domestic tourism consumption increasing[23]. - The company operates seven hotels, dominating the mid-to-high-end market in the local area, enhancing brand image and service quality[23]. - The company has three cable car lines providing stable revenue, leveraging its unique geographical advantages[24]. - The company’s travel agencies have a stable customer base and a well-established marketing network, contributing to overall business growth[27]. - The company is expanding its hotel business to surrounding areas, reducing dependency on local tourism resources[26]. - The management team possesses extensive experience and strategic insight, contributing to effective business performance[27]. - The company has actively pursued new strategies in response to changes in the tourism market, including the development of short videos and live streaming sales[29]. - The company has enhanced its WeChat platform functionalities to improve customer service and communication[29]. Risks and Challenges - The company faces risks from major pandemics and natural disasters, which could adversely impact operational performance, especially during peak tourism seasons[46]. - The company is addressing the risk of limited scenic area capacity due to increased traffic and visitor numbers, particularly during holidays[47]. - Safety risks associated with special equipment like cable cars and gondolas are a concern, as mismanagement or extreme weather could lead to safety issues[48]. Shareholder Information - The total number of ordinary shareholders reached 10,803 by the end of the reporting period[70]. - The largest shareholder, Anhui Jiuhua Mountain Cultural Tourism Group Co., Ltd., holds 36,109,376 shares, accounting for 32.63% of the total shares[70]. - Anhui Province High-tech Industry Investment Co., Ltd. holds 16,267,338 shares, representing 14.70% of the total shares[70]. - Anhui Jiarun Jindi Enterprise Management Co., Ltd. has 16,000,000 shares, which is 14.46% of the total shares[71]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders alone accounting for over 61%[70][71]. Corporate Governance and Compliance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[54]. - The company provided assistance of 20,000 RMB to San Yi Village in Qinyang County for poverty alleviation efforts in January 2021[57]. - The company reported a total of 1,200,000 RMB in expected related transactions for 2021, with actual transactions in the first half of 2021 amounting to 188,210 RMB[63]. - There were no changes in the total number of shares or the share structure during the reporting period[68]. - No major guarantees or contracts were reported during the period[67][69]. - The company did not disclose any new products or technologies in the half-year report[68]. - There were no significant changes in the financial relationships with related parties[67]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the enterprise accounting standards and reflect the company's financial status accurately[119]. - The company has included its subsidiaries in the consolidated financial statements, with a direct ownership of 100% in all subsidiaries listed[114]. - The accounting period for the company runs from January 1 to December 31 each year[120]. - The company will include the revenue, expenses, and profits of newly acquired subsidiaries in the consolidated profit statement from the acquisition date to the end of the reporting period[127]. - The consolidated cash flow statement will reflect cash flows from the acquired subsidiaries from the acquisition date to the end of the reporting period[127]. - The company will not adjust the beginning balances of the consolidated balance sheet for newly acquired subsidiaries under non-common control[128]. - Unrealized internal transaction profits from asset sales between subsidiaries will be fully offset against the net profit attributable to the parent company[129]. - The company will adjust capital reserves (capital surplus) for the difference between the purchase price of minority shares and the net asset share of the subsidiary from the acquisition date[131]. Employee Compensation and Benefits - The company calculates and recognizes liabilities for post-employment benefits based on actuarial assumptions and discount rates[194]. - Changes in the net liability or asset of defined benefit plans are directly recorded in other comprehensive income and cannot be reversed in subsequent periods[195]. - The company provides severance benefits to employees, recognizing the related employee compensation liability when the severance benefits cannot be unilaterally withdrawn or when costs related to restructuring are confirmed[196]. - Other long-term employee benefits are measured at the present value of the total contributions payable, in accordance with the established funding plan[198]. - The company recognizes employee compensation costs for other long-term employee benefits at the end of the reporting period, including service costs and interest on net liabilities or assets[198].