桂林旅游(000978) - 2019 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of CNY 606.15 million, a year-on-year increase of 5.77%[31]. - The net profit attributable to shareholders decreased by 31.57% to CNY 55.02 million[59]. - The company's operating revenue for 2019 was CNY 606,147,910.89, an increase of 5.77% compared to CNY 573,070,306.91 in 2018[16]. - The net profit after deducting non-recurring gains and losses was CNY 48,503,828.65, down 35.28% from CNY 74,940,968.68 in 2018[16]. - The total operating costs rose to CNY 621.70 million, an increase of 15.78% year-on-year[31]. - The net cash flow from operating activities increased by 15.12% to CNY 188,676,202.71 in 2019 from CNY 163,894,731.81 in 2018[16]. - The company's total assets at the end of 2019 were CNY 2,871,037,043.45, a decrease of 1.77% from CNY 2,922,710,811.49 at the end of 2018[16]. - The net assets attributable to shareholders increased by 1.37% to CNY 1,592,261,983.98 at the end of 2019 from CNY 1,570,756,430.54 at the end of 2018[16]. - The company reported a net profit impact of -299,700 CNY from the transfer of 100% equity in Guilin City Ring Water System Real Estate Development Co., Ltd. to clean up real estate assets[107]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.2 RMB per 10 shares to all shareholders, based on a total of 360,100,000 shares[4]. - The company achieved a net profit attributable to shareholders of CNY 55,018,583.76 for the fiscal year 2019, with a proposed cash dividend of CNY 7,202,000.00, representing 13.09% of the net profit[144]. - The company has a total of CNY 166,666,404.50 in undistributed profits at the end of the reporting period, with CNY 148,727,380.20 attributable to the parent company[148]. - The company’s cash dividend payout ratio for 2018 was 35.83%, with a total cash dividend of CNY 28,808,000.00[147]. - The company’s cash dividend payout ratio for 2017 was 47.61%, with a total cash dividend of CNY 25,207,000.00[146]. Business Operations and Expansion - The company has expanded its business scope to include inbound tourism, domestic tourism, and outbound tourism services[14]. - The company has increased its operational capabilities by adding travel agency services and cultural event planning to its business scope[14]. - The company is actively restructuring and revitalizing underperforming assets, including the integration of several subsidiaries[37]. - The company has established exclusive online ticketing agency agreements with major OTAs, enhancing its marketing reach[33]. - The company is focusing on the development of new tourism projects, including the "Vivid Lotus" project, to attract more visitors post-pandemic[133]. - The company plans to strengthen market promotions and control costs to mitigate the negative impact of the COVID-19 pandemic on its operations in 2020[133]. - The company aims to enhance service quality and upgrade its scenic spots and hotels to improve customer experience[130]. - The company is exploring refinancing options to support its growth initiatives and asset management strategies[133]. Visitor Statistics and Market Trends - The company received a total of 8.99 million visitors, a slight increase of 0.38% year-on-year[59]. - The scenic area received 4.34 million visitors, a decrease of 8.92% year-on-year[59]. - The subsidiary Yinzi Rock received 2.64 million visitors, generating revenue of CNY 103.48 million and a net profit of CNY 64.71 million[32]. - The subsidiary Two Rivers and Four Lakes received 1.24 million visitors, with revenue of CNY 117.31 million and a net profit of CNY 1.78 million[32]. - The company’s cruise division served 666,300 visitors, a year-on-year increase of 9.83%, with revenue of CNY 116.39 million, up 8.54%[32]. Financial Management and Compliance - The company has confirmed the accuracy and completeness of its financial report, with key personnel taking responsibility for its content[3]. - The company has established a comprehensive disclosure system, utilizing multiple media for reporting financial information[13]. - The company has engaged Da Xin Accounting Firm for auditing services during the reporting period[15]. - The company is committed to maintaining transparency in its financial disclosures and ensuring accurate reporting[193]. - The company has not experienced any major litigation or arbitration matters during the reporting period[165]. Strategic Initiatives and Future Outlook - The company plans to issue up to 72.02 million shares to raise no more than CNY 400 million for working capital and loan repayment[57]. - The company aims to improve operational efficiency, targeting a reduction in costs by 4%[9]. - The company is positioned to benefit from the booming domestic tourism market, with increasing consumer spending and a shift towards personalized travel experiences[128]. - The company is committed to improving its internal management and operational efficiency through digital transformation and refined management practices[138]. - The company is exploring potential mergers and acquisitions to strengthen its market presence[193]. Related Party Transactions - The actual amount of related party transactions for purchasing scenic tickets from Guilin Tourism Development Co., Ltd. was 12.8554 million yuan[170]. - The rental contract signed with Guilin Tourism Development Co., Ltd. for the Tianzhitai office building has a total rent and property management fee of 8.3211 million yuan over a 10-year period[171]. - The company has engaged in various significant related transactions, including ticket revenue sharing and lease agreements with its controlling shareholder[181]. - The company signed a new management contract with individual Meng Dongyu for Hong Kong Guijiang Tourism Co., Ltd. for a one-year period from January 1, 2019, to December 31, 2019, with a management fee of 10,000 RMB[186]. Asset Management and Investments - The company has a fleet of 41 star-rated cruise ships, accounting for approximately 33.09% of the total star-rated cruise capacity in Guilin[30]. - The company acquired two cruise ships, "Shengjing" and "Dijing," for a total purchase price of RMB 17.75 million, enhancing its cruise capacity on the Li River[50]. - The company has invested 30 million CNY in the Elephant Trunk Hill project, with a cooperation period of 40 years[178]. - The company is involved in leasing various properties, including hotels and office spaces, to enhance its revenue streams[188]. - The company is committed to sustainable practices in its operations, aligning with market trends towards eco-friendly tourism[188].