HSTD(SH:900942)2020-08-21 16:00Financial Performance - The company's operating revenue for the first half of 2020 was CNY 200,095,908.80, a decrease of 72.53% compared to CNY 728,444,103.86 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2020 was a loss of CNY 88,424,218.55, representing a decline of 152.60% from a profit of CNY 168,095,510.40 in the previous year[21]. - The net cash flow from operating activities was a negative CNY 158,768,168.25, a decrease of 223.59% compared to CNY 128,467,195.72 in the same period last year[21]. - Basic earnings per share decreased to -0.1212 yuan, a decline of 153.02% compared to the same period last year[22]. - Revenue dropped significantly due to a 68.21% year-on-year decrease in visitor numbers caused by the COVID-19 pandemic[22]. - The weighted average return on net assets fell to -2.07%, a decrease of 6.14 percentage points from the previous year[22]. - The total profit for the first half of 2020 was a loss of CNY 82,201,366.15, compared to a profit of CNY 240,353,089.10 in the same period of 2019[99]. - The total comprehensive income for the first half of 2020 was a loss of CNY 104,759,405.60, compared to a profit of CNY 233,384,096.17 in the same period of 2019[99]. - The company reported a significant reduction in investment income to CNY 28,260,341.70 from CNY 84,034,197.95 in the first half of 2019[101]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were CNY 4,176,840,655.67, down 4.18% from CNY 4,359,078,733.18 at the end of the previous year[21]. - Total assets decreased by 5.22%, amounting to CNY 4,708,641,772.73 compared to CNY 4,967,778,433.03 at the end of the previous year[21]. - Cash and cash equivalents decreased by 56.07% to ¥791,381,117.67, accounting for 16.81% of total assets[45]. - The company's current assets decreased to RMB 1,894,128,368.77 from RMB 2,210,386,720.24, reflecting a decline of approximately 14.3%[90]. - The total liabilities decreased to RMB 276,406,390.89 from RMB 342,979,653.34, a decline of about 19.4%[91]. - The total liabilities as of June 30, 2020, were CNY 452,742,381.04, down from CNY 477,982,561.36 at the end of 2019[96]. Operational Adjustments and Strategies - The company implemented 28 measures to respond to the pandemic, including maintaining employment and launching health-oriented products[36]. - The company is enhancing its scenic area product offerings and core competitiveness through organizational restructuring and product improvement initiatives[26]. - The company is focusing on integrating high-quality tourism resources in Huangshan and southern Anhui through capital operations[33]. - The company plans to strengthen marketing, control costs, and seek favorable policy support to mitigate the adverse effects of the pandemic[55]. - The company aims to accelerate the implementation of the "Mountain Water Village Cave" and "Tourism+" strategies to enhance its competitive advantage[57]. Visitor Statistics - In the first half of 2020, the company received 516,000 visitors, a decrease of 110,800 visitors or 68.2% compared to the same period last year[35]. - The company's operating revenue was 200 million RMB, down 72.53% year-on-year[35]. Subsidiaries and Investments - The company invested ¥100 million to establish Huangshan Guiyin Rural Tourism Investment Development Co., Ltd. to expand its rural tourism segment[49]. - The company contributed ¥50.65 million to increase its stake in Taiping Lake Cultural Tourism Company, maintaining a 50.96% ownership[49]. - The company reported a net profit of ¥1,401.12 million from its subsidiary Huangshan Yuping Cableway Co., Ltd.[53]. Risk Management and Compliance - The report includes a risk statement regarding forward-looking statements, indicating potential risks for investors[8]. - The company continues to comply with all regulatory requirements and maintains a good integrity status during the reporting period[64]. - The company has established emergency mechanisms to minimize losses from natural disasters and unforeseen events[58]. Corporate Governance - The company appointed new executives, including Sun Jun as Executive Vice President and Tang Shinan and Ding Wei as Senior Vice Presidents[85]. - The company's independent director Guo Yongqing resigned due to personal reasons during the reporting period[86]. Social Responsibility - The company has engaged in poverty alleviation efforts, spending a total of 77,300 RMB on purchasing local agricultural products to support impoverished areas[71]. - The company has helped 13 registered impoverished individuals to escape poverty through various initiatives, including employment opportunities and agricultural support[73]. - The company has established a photovoltaic power station project to provide job opportunities for impoverished households, distributing profit dividends[75]. Financial Reporting and Accounting - The report is unaudited, and the management has confirmed the accuracy and completeness of the financial report[6]. - The financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring a true and complete reflection of the company's financial status[128]. - The company recognizes long-term equity investments at initial cost, which includes the book value of previously held investments plus the fair value of additional investments made on the consolidation date[143].