*ST新联(000620) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,120,724,643.73, representing a 10.49% increase compared to CNY 1,919,444,605.20 in the same period last year[27]. - The net loss attributable to shareholders was CNY -992,997,756.85, which is a 36.80% increase in loss compared to CNY -725,878,444.43 in the previous year[27]. - The basic earnings per share were CNY -0.52, a decrease of 36.84% compared to CNY -0.38 in the same period last year[27]. - The company reported a net profit of CNY 298,582,102.76 for the first half of 2022, compared to CNY 285,731,905.69 in the first half of 2021, showing an increase of about 4.5%[198]. - Total operating costs for the first half of 2022 amounted to CNY 3,128,619,504.38, up from CNY 2,857,492,058.29 in the same period of 2021[198]. Cash Flow and Assets - The net cash flow from operating activities was CNY -10,482,829.53, a significant decline of 102.46% from CNY 426,624,517.64 in the same period last year[27]. - The total assets at the end of the reporting period were CNY 41,671,956,374.58, down 3.35% from CNY 43,115,873,472.90 at the end of the previous year[27]. - The net increase in cash and cash equivalents was -¥317,729,072.72, reflecting a 50.32% decline from -¥211,369,390.95, attributed to reduced cash receipts from sales[48]. - As of June 30, 2022, the total current assets amounted to approximately CNY 22.15 billion, a decrease from CNY 23.32 billion at the beginning of the year, representing a decline of about 5%[186]. - Cash and cash equivalents were reported at CNY 1.79 billion, down from CNY 2.31 billion, indicating a decrease of approximately 22.6%[186]. Liabilities and Debt - The total liabilities decreased from ¥38,778,245,578.19 to ¥38,330,225,743.78, a decline of approximately 1.15%[192]. - Long-term borrowings amounted to 8,185,025,008.87, representing 19.64% of total liabilities, a decrease of 2.00% compared to the previous period[57]. - The company is involved in a debt restructuring dispute with China Cinda Asset Management, with an amount of CNY 638.49 million, currently in the second instance[108]. - The company has reported a debt of 50,000 million for Changsha Xinhua Tongguanyao International Cultural Tourism Development Co., Ltd., with an outstanding amount of 47,755 million[143]. - The total approved guarantee amount for subsidiaries at the end of the reporting period is 1,851,742,000[147]. Operational Challenges - Domestic tourism total visits decreased by 22.2% in the first half of 2022, with a 28.2% decline in tourism revenue[37]. - The company’s cultural tourism segment faced a 45% decline in operational returns and a 61% drop in visitor rates due to pandemic impacts[38]. - The company’s real estate sales area decreased by 22.2%, with residential sales area down by 26.6% in the first half of 2022[37]. - The company’s financial expenses increased by 16.41% to 719.76 million yuan compared to the previous year[44]. - The company is actively addressing financial risks related to overdue debts and asset seizures, aiming to negotiate with creditors for extensions and settlements[77]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company plans to continue focusing on expanding its residential property sales while addressing the challenges in the cultural tourism sector[49]. - The company aims to enhance service quality and expand product offerings in the cultural tourism sector to improve operational performance[96]. - In the real estate sector, the company will implement a "one house, one price" sales policy to boost sales and profitability[96]. - The company is focused on accelerating the liquidation of non-scenic hotels and commercial properties to improve cash flow and asset-liability structure[97]. Legal and Regulatory Matters - The company is involved in a lawsuit with China Bank regarding a financial loan contract dispute, with an amount of CNY 496.97 million, currently in the execution stage[101]. - The company is also facing a lawsuit from Citic Bank concerning a financial loan contract dispute, with an amount of CNY 351.77 million, which has entered the execution stage[101]. - The company has a judgment against Beijing Jinyi Garden Engineering Co., Ltd. for CNY 240.75 million, which is currently in the execution stage[105]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[93]. - The company has not encountered any violations regarding external guarantees during the reporting period[94].