XI'AN TOURISM(SZ:000610)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was ¥560,654,445.18, an increase of 87.28% compared to ¥299,367,471.17 in 2020[21]. - The net profit attributable to shareholders was a loss of ¥73,068,303.79, representing a decline of 294.45% from a profit of ¥37,576,277.91 in 2020[21]. - The net cash flow from operating activities improved to -¥115,542,663.95, a 33.25% improvement from -¥173,104,239.30 in 2020[21]. - The total assets at the end of 2021 were ¥2,216,158,784.58, reflecting a 67.17% increase from ¥1,325,718,425.36 at the end of 2020[21]. - The basic earnings per share for 2021 was -¥0.3086, compared to ¥0.1587 in 2020, indicating a significant decline[21]. - The company reported a total of ¥514,410,289.07 in revenue after deducting non-operating income, which was entirely related to its main business[22]. - The company experienced a net loss of ¥39,334,076.93 in the fourth quarter of 2021, contributing to the overall annual loss[26]. - Non-operating income included ¥14,618,122.69 from the disposal of non-current assets, down from ¥138,775,662.24 in 2020[27]. - The weighted average return on net assets was -8.56% for 2021, a decrease of 12.87% from 4.31% in 2020[21]. Business Operations - The company operates in various sectors including hotel management, catering services, and tourism product development[18]. - The company has undergone several changes in its business scope since its establishment, with the latest updates including travel agency services and tourism resource development[18]. - The company expanded its hotel operations, adding 24 hotels in 2021, including 16 direct-operated and 8 franchised[34]. - The travel agency segment launched multiple premium tourism and research study routes, signing strategic cooperation agreements with several scenic spots along the Qinling Mountains[37]. - The company developed nearly 100 self-operated tourism routes, including destinations in Guangdong, Guangxi, Hainan, Xinjiang, Tibet, and Sichuan[33]. - The company upgraded its Wan'ao hotel brand from version 1.0 to 2.0, enhancing its diversified brand lineup[34]. - The company established a "Five Heart" fresh food distribution platform, enhancing its supply chain capabilities and achieving good economic and social benefits[35]. - The company initiated the "Lemon Research Study" brand, creating nearly 100 high-quality research study and party-building products[34]. - The company launched the "Xi Travel" WeChat mini-program and upgraded its micro-mall system in 2021[37]. - The company is focusing on new business growth points in urban entertainment, outdoor living, natural education, and live e-commerce[35]. Revenue Breakdown - In 2021, the travel agency business generated revenue of CNY 144.63 million, representing a year-on-year growth of 21.22%[38]. - The hotel business achieved revenue of CNY 76.81 million in 2021, with a significant year-on-year increase of 195.53%[42]. - The commerce and logistics segment reported revenue of CNY 339.21 million, marking a year-on-year growth of 120.18%[39]. - The hotel segment accounted for 13.70% of total revenue, while the travel agency and commerce segments contributed 25.80% and 60.50%, respectively[42]. Subsidiaries and Acquisitions - The company acquired 100% equity of Sunshine Hotel for CNY 37.87 million, which was completed in January 2021[49]. - The company has established several new subsidiaries, including a full-owned subsidiary for scenic area management and a hotel management company[49]. - The company reported a net profit of 42.70 million CNY for the subsidiary Xi'an Hongtu Innovation Investment Co., with total assets of 205.46 million CNY and net assets of 176.09 million CNY as of the end of 2021[91]. - The company’s subsidiary, Xi'an Xili Conference and Exhibition Service Co., reported a net profit of 171.22 million yuan from an operating income of 515.97 million yuan, with total assets of 280.73 million yuan[90]. Financial Management and Control - The company emphasizes the importance of risk management and has outlined potential risks and countermeasures in its management discussion[4]. - The company has a commitment to ensuring the accuracy and completeness of its financial reports, as stated by its management[3]. - The internal control system has been continuously improved, ensuring low financial and operational risks[130]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2021[134]. - There were no major defects identified in the financial or non-financial reports, indicating a strong compliance and operational integrity[135][149]. Shareholder Information - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[5]. - The total number of shares is 236,747,901, with 99.43% being unrestricted shares and 0.57% being restricted shares[182]. - The largest shareholder, Xi'an Tourism Group Co., Ltd., holds 27.29% of the shares, totaling 64,602,145 shares[187]. - The company has not issued any new securities during the reporting period[186]. - The shareholding structure remains stable, with no significant changes in the asset and liability structure reported[186]. Management and Governance - The company has a diverse board with members holding various academic qualifications, including PhDs and master's degrees[109]. - The current management team includes experienced professionals with backgrounds in finance, tourism, and law, enhancing the company's strategic capabilities[110]. - The management team is focused on leveraging their expertise to drive the company's growth in the tourism sector[108]. - The total pre-tax remuneration for the board of directors, supervisors, and senior management amounted to 4.3982 million CNY[114]. - The company’s board of directors held a total of 4 meetings during the reporting period, with all members present[117]. Legal and Compliance - The company did not experience any significant litigation or arbitration matters during the reporting period, reflecting a stable legal standing[148]. - The company has not engaged in any major related party transactions during the reporting period, ensuring transparency in operations[150]. - There were no violations or penalties reported during the period, indicating adherence to regulatory standards[149]. Future Plans - The company plans to expand the "Xili Wan'ao" hotel brand across the country, enhancing brand awareness and developing franchise stores[93]. - The travel agency sector is expected to focus on post-pandemic recovery, enhancing product design and expanding self-operated product clusters[93]. - The company aims to establish a national automated ecological supply chain collection and distribution base within 3 to 5 years to reduce traditional supply costs[95]. - The company will develop a diversified brand portfolio in the hotel sector, including "Wan'ao Manor" and "Platinum Wan'ao" among others[93].