JJIT(SH:900929)2019-03-28 16:00Financial Performance - In 2018, the company's operating revenue was CNY 1,519,627,495.36, a decrease of 11.14% compared to CNY 1,710,185,432.74 in 2017[22] - The net profit attributable to shareholders was CNY 63,467,905.06, representing a 3.66% increase from CNY 61,228,732.75 in the previous year[22] - The company's total revenue for the year was CNY 1,519,627,495.35, with a quarterly breakdown showing Q1 at CNY 315,548,278.77, Q2 at CNY 386,650,350.47, Q3 at CNY 418,094,370.75, and Q4 at CNY 399,334,495.37[25] - The net profit attributable to shareholders for the year was CNY 63,467,905.06, with a significant drop in Q4 to CNY 8,276,361.60 from CNY 36,976,247.42 in Q2[25] - The company reported an operating profit of CNY 144.92 million, an increase of 94.19% year-on-year[46] - The revenue from outbound tourism decreased by 28.26% to CNY 557.38 million, while inbound tourism revenue increased by 8.48% to CNY 155.35 million[50] - The company's main business revenue from tourism and related services accounted for 97.32% of total revenue, down 0.73 percentage points from the previous year[52] - The gross profit margin for tourism and related services increased by 0.97 percentage points, primarily due to higher margins in outbound and incentive travel[53] Assets and Liabilities - The total assets at the end of 2018 were CNY 1,448,480,205.60, down 9.64% from CNY 1,603,039,374.36 in 2017[22] - The net assets attributable to shareholders decreased by 24.93% to CNY 861,523,048.63 from CNY 1,147,555,643.09 in 2017[22] - The total current assets as of December 31, 2018, amounted to RMB 716,272,048.64, an increase from RMB 380,494,183.49 at the beginning of the year, reflecting a growth of approximately 88.4%[199] - The total liabilities amounted to ¥584,404,788.79, up from ¥455,907,295.44, reflecting an increase of approximately 28.2%[200] - Total current liabilities increased to ¥489,296,721.27 from ¥320,741,218.16, representing a growth of approximately 52.5% year-over-year[200] - Total non-current liabilities decreased to ¥95,108,067.52 from ¥135,166,077.28, indicating a reduction of about 29.6%[200] Cash Flow - The company reported a net cash flow from operating activities of CNY -72,719,875.31, indicating a decline in operational cash generation[22] - The net cash flow from operating activities was negative in Q1 and Q3, with Q1 at CNY -16,747,834.44 and Q3 at CNY -72,432,967.65[25] - The company's cash flow from investment activities showed a significant increase of 161.64%, reaching CNY 211.25 million[48] - The net cash flow from operating activities for the reporting period was -CNY 72,719,900, a decrease of CNY 19,283,100 compared to the previous year[59] Dividends - The company proposed a cash dividend of CNY 2.40 per 10 shares, totaling CNY 31,813,504.80, with a remaining undistributed profit of CNY 467,991,944.83 to be carried forward[5] - The cash dividend for B shares is set at $0.036561 per share, based on the exchange rate of 1 USD to 6.4003 CNY[112] - The company distributed cash dividends of 2.40 RMB per 10 shares in 2018, with a total cash dividend amounting to 31,813,504.80 RMB, representing 50.13% of the net profit attributable to ordinary shareholders[113] Operational Strategy - The company emphasizes the importance of risk awareness regarding future plans and development strategies[6] - The company implemented a multi-channel marketing strategy, including the launch of a new flagship store and the establishment of a direct sales department, improving overall business performance[43] - The company plans to enhance service quality and innovate content creation in the travel service industry, focusing on niche travel platforms that emphasize cultural and educational experiences[100] - The company aims to improve operational efficiency through precise marketing and refined internal operations, which will help reduce customer acquisition costs[100] - The company is set to accelerate the development of MICE (Meetings, Incentives, Conferences, and Exhibitions), inbound, and study tour businesses, leveraging market recovery opportunities[105] Industry Context - The tourism industry in China has shown steady growth, significantly contributing to the national economy, with a focus on high-quality tourism consumption trends[32] - The overall tourism revenue in China reached ¥5.97 trillion, growing by 10.5% year-on-year, indicating a positive trend in the travel industry[86] - The travel service industry is expected to see increased demand for high-quality services, driving competition beyond just pricing[100] Corporate Governance - The audit report issued by Deloitte Huayong was a standard unqualified opinion, ensuring the accuracy of the financial report[4] - The independent audit of the company's internal control effectiveness was conducted by Deloitte, resulting in a standard unqualified opinion[177] - The company has established a quality leadership team to improve service quality amidst a challenging tourism environment[133] Employee and Community Engagement - The company emphasizes employee rights protection and has completed the "Harmonious Labor Relations" creation activity in June 2018[132] - The company actively participates in social governance and community service activities, enhancing community interaction[134] - The total number of employees in the parent company and major subsidiaries is 816, with 79 in the parent company and 737 in subsidiaries[164] Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 13,399, an increase from 13,347 at the end of the previous month[143] - Shanghai Jin Jiang International Hotel (Group) Co., Ltd. holds 66,556,270 shares, representing 50.21% of the total shares[146] - The actual controller is the Shanghai Municipal State-owned Assets Supervision and Administration Commission, responsible for supervising state-owned assets[151]