ZTG(SZ:000430)2021-04-19 16:00Financial Performance - The company's operating revenue for 2020 was ¥169,196,685.24, a decrease of 60.21% compared to ¥425,258,692.37 in 2019[19]. - The net profit attributable to shareholders for 2020 was a loss of ¥92,205,465.44, representing a decline of 933.99% from a profit of ¥11,055,878.66 in 2019[19]. - The net cash flow from operating activities was negative at ¥21,621,183.64, down 113.87% from ¥155,829,995.12 in 2019[19]. - The basic earnings per share for 2020 was -¥0.23, compared to ¥0.03 in 2019, marking a decrease of 866.67%[19]. - The total revenue from travel agency services was 25,723,744.00, a decrease of 74.18% compared to 99,609,825.54 in 2019[51]. - The company reported a total revenue of 64,758,525 with a net loss of 25,313,910[74]. - The company reported a net loss of 200 million RMB for 2020, primarily due to the impact of the COVID-19 pandemic on tourism[156]. - The company reported a net loss of 50 million yuan for 2020, compared to a profit of 200 million yuan in 2019[168]. Assets and Liabilities - Total assets at the end of 2020 amounted to ¥2,795,611,103.77, an increase of 4.78% from ¥2,668,026,912.74 at the end of 2019[19]. - The net assets attributable to shareholders decreased by 5.64% to ¥1,512,082,326.15 at the end of 2020 from ¥1,602,499,905.75 at the end of 2019[19]. - The total amount of cash and cash equivalents decreased by 92,262,441.75, marking an 875.61% decline from the previous year[59]. - The total amount of cash outflow from investment activities increased by 45.73% to 307,775,282.97, compared to 211,192,320.83 in 2019[59]. - The company reported a significant increase in contract liabilities, with the end-of-period amount rising by CNY 1,318,915.85 and the beginning-of-period amount increasing by CNY 2,538,648.42[97]. Operational Challenges - The company reported a significant decline in both net profit and operating revenue, indicating challenges in the tourism sector due to external factors[19]. - The company has identified potential risks in its future development outlook, which investors should be aware of[6]. - The company experienced a significant decline in the travel agency service revenue, which was CNY 28.79 million, down 74.03% from CNY 110.85 million in 2019[1][4]. - The company faces challenges from increased competition and the need to upgrade the quality of its attractions[78]. Strategic Initiatives - The company is focusing on transforming its tourism business from traditional sightseeing to a combination of leisure and vacation experiences[83]. - The company aims to enhance its market share and profitability by integrating culture and sports into its tourism offerings[80]. - The company is implementing measures to mitigate the impact of COVID-19, including strict cost control and market promotions[82]. - The company is looking to capitalize on the recovery of the tourism industry post-pandemic to strengthen its market position[77]. - The company is focusing on enhancing operational efficiency by strengthening project initiatives and cultivating competitive advantages, particularly through the promotion of the core project "Duyong Ancient City" which is expected to open within the year[87]. Shareholder and Governance - The company has not distributed cash dividends or issued new shares from capital reserves in the past three years, including the current reporting period[91]. - The net profit attributable to ordinary shareholders for 2020 was -92,205,465.44 yuan, with a cash dividend payout ratio of 0.00%[92]. - The company has maintained a continuous relationship with Tianzhi International Accounting Firm for 12 years, with an audit fee of CNY 550,000 for the current period[100]. - The company has established a governance structure that complies with the regulations set by the China Securities Regulatory Commission, ensuring effective communication with shareholders[183]. Employee and Management - The total number of employees in the company is 1,074, with 51 in the parent company and 1,023 in major subsidiaries[175]. - The total pre-tax remuneration for the board of directors and senior management during the reporting period is 336.47 million yuan[174]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and senior management, ensuring transparency and compliance with legal regulations[184]. - The management team is committed to strategic planning and operational efficiency to drive growth in the tourism sector[151]. Community and Environmental Responsibility - The company invested a total of 540,000 RMB in poverty alleviation efforts, helping 60 individuals and supporting 2 communities[118]. - The company actively participated in COVID-19 prevention efforts, including donations and providing accommodation for travelers from Hubei[118]. - The company has focused on ecological protection by increasing the use of gas and new energy vehicles[118]. - The management team emphasized the importance of sustainability initiatives, with plans to allocate 5% of the annual budget towards environmental conservation projects[168].