GTCL(SZ:000978)2020-10-28 16:00Financial Performance - Operating revenue for the current period was ¥75,451,794.28, a decrease of 56.88% year-on-year[7] - Net profit attributable to shareholders was -¥16,633,326.78, a decrease of 136.92% year-on-year[7] - Basic earnings per share was -¥0.046, a decrease of 136.80% year-on-year[7] - The company reported a net profit attributable to shareholders of CNY -12,819.22 million for the first nine months, a decrease of CNY 18,316.44 million or 333.19% year-on-year[15] - The net profit for Q3 2020 was a loss of CNY 22,229,726.17, compared to a profit of CNY 39,195,947.93 in Q3 2019, indicating a significant decline in profitability[49] - The net profit for the same period was a loss of CNY 46,695,812.39, compared to a profit of CNY 94,349,986.37 in the previous year, indicating a significant decline in profitability[55] Assets and Liabilities - Total assets decreased by 4.05% to ¥2,754,650,818.27 compared to the end of the previous year[7] - The company’s total assets decreased by CNY 3,119.83 million or 52.58% in investment properties, attributed to asset disposals[14] - The company’s total liabilities were CNY 1,315,344,957.72, slightly up from CNY 1,273,093,622.78, indicating a rise of approximately 3.3%[43] - Long-term borrowings increased significantly to CNY 883,880,000.00 from CNY 751,420,000.00, marking an increase of around 17.6%[43] - The company’s total liabilities rose to CNY 1,317,062,626.36 from CNY 1,263,825,567.50, reflecting an increase of 4.2%[47] Cash Flow - Net cash flow from operating activities was -¥7,930,174.70, a decrease of 107.03% year-on-year[7] - The net cash flow from operating activities was CNY -7,741.71 million, a decrease of CNY 18,105.69 million or 174.70% year-on-year, reflecting the significant drop in visitor numbers and revenue[18] - Cash flow from operating activities showed a net outflow of CNY 77,417,118.39, compared to a net inflow of CNY 103,639,750.92 in the previous year, reflecting operational challenges[57] - Net cash flow from operating activities was -CNY 95,971,146.47, worsening from -CNY 12,318,373.88 in the same period last year[59] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,087[11] - The largest shareholder, Guilin Tourism Development Company, holds 18.36% of the shares[11] Government and Legal Matters - Non-operating income included government subsidies totaling ¥19,616,311.69[8] - The company has approved the bankruptcy liquidation application for 桂林丹霞温泉旅游有限公司, with the court accepting the application on October 28, 2020[25] - The company is facing a lawsuit from a shareholder regarding the 2019 annual general meeting resolutions, with the court hearing held on September 27, 2020[23] Investment and Projects - The company plans to issue up to 108,030,000 shares at a price of CNY 4.43 per share, aiming to raise no more than CNY 478,572,900 for repaying bank loans[26] - The company has adjusted the total investment for the "境SHOW·生动莲花" project to CNY 11,000,000, with construction delayed due to the COVID-19 pandemic[27][28] Operational Changes - The company’s employee compensation payable decreased by CNY 2,285.08 million or 38.07%, influenced by salary adjustments due to the pandemic[14] - The company incurred sales expenses of CNY 1,779,691.92, down from CNY 3,347,275.26, reflecting cost-cutting measures[55] Accounting and Reporting - The company implemented the new revenue accounting standards starting January 1, 2020, without retrospective adjustment of prior comparable figures[64] - The third quarter report for 2020 was not audited[68] - The chairman of the company, Li Feiying, signed the report on October 28, 2020[69]