GTCL(000978)2021-10-28 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥65,458,459.12, a decrease of 13.24% compared to the same period last year[3] - The net profit attributable to shareholders was -¥34,049,871.05, representing an increase in loss of 104.71% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥36,185,784.33, a 39.82% increase in loss compared to the previous year[3] - The company reported a net loss attributable to shareholders increased to CNY -204,655,389.09 from CNY -106,990,502.30, indicating a worsening of approximately 91%[25] - Net profit for the first nine months was a loss of CNY 108,996,767.61, an improvement from a loss of CNY 151,435,560.12 in the previous year[27] - The total comprehensive income for the period was a loss of CNY 108,996,767.61, compared to a loss of CNY 151,435,560.12 in the previous year[27] - The company reported a basic and diluted earnings per share of -0.271, an improvement from -0.356 in the previous year[27] Assets and Liabilities - The total assets at the end of Q3 2021 were ¥2,589,356,103.63, a decrease of 2.89% from the end of the previous year[3] - The company's total liabilities increased to CNY 1,344,385,301.64 as of September 30, 2021, compared to CNY 1,312,326,803.59 at the end of 2020, representing an increase of about 2.4%[25] - The total equity attributable to the owners of the parent company decreased to CNY 1,218,803,990.39 from CNY 1,316,468,877.18, indicating a decline of approximately 7.4%[25] - The company's cash and cash equivalents decreased to CNY 45,252,446.33 from CNY 46,436,409.76, a decline of about 2.6%[23] - Total current assets amounted to 308,592,692.24, with cash and cash equivalents at 46,436,409.76[31] - Non-current assets totaled 2,357,701,680.94, including long-term equity investments of 430,030,958.16 and fixed assets of 1,128,329,648.94[32] - The company has a long-term borrowing of 859,620,000.00, indicating significant leverage in its capital structure[33] Cash Flow - The company reported a cash flow from operating activities net amount of -¥3,787,538.75, a significant decrease of 95.11%[3] - The net cash flow from operating activities was -378.75 million RMB, a decrease of 95.11% year-on-year[9] - Cash flow from operating activities showed a net outflow of CNY 3,787,538.75, an improvement from a net outflow of CNY 77,417,118.39 in the same period last year[29] - Cash flow from investing activities resulted in a net outflow of CNY 7,738,590.32, compared to a net inflow of CNY 4,292,375.32 in the previous year[29] - Cash flow from financing activities generated a net inflow of CNY 10,542,165.64, down from CNY 72,794,969.36 in the same period last year[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,702[13] - The largest shareholder, Guilin Tourism Development Group, holds 18.36% of the shares, totaling 66,120,473 shares[13] - The company plans to issue up to 108,030,000 shares at a price of 4.43 RMB per share, aiming to raise no more than 478.57 million RMB for repaying bank loans[15] - The approval for the non-public offering of shares was granted by the China Securities Regulatory Commission on June 25, 2021[15] - The board of directors extended the validity period of the non-public offering resolution by 12 months, until October 29, 2022[16] - As of the report date, the non-public offering of shares has not yet been implemented[17] Operational Highlights - The number of tourists received increased by 28% year-on-year, leading to a revenue increase of 19% for the first nine months of 2021[3] - The company recognized investment income of ¥1,894.33 million from associates, a substantial increase of 1357.29% year-on-year[3] - The company received government subsidies and tax reductions totaling ¥2,231,348.09 during the reporting period[5] - The company incurred a loss of ¥9,766.49 million in undistributed profits due to the impact of the COVID-19 pandemic[8] - In the first nine months of 2021, the company received 28% more visitors compared to the same period in 2020, leading to an increase in operating revenue[9] Accounting and Reporting - The company adopted new leasing accounting standards effective January 1, 2021, impacting the recognition of right-of-use assets and lease liabilities[34] - The third quarter report for 2021 was not audited, indicating that the figures may be subject to change upon final review[35] - The company reported a total asset value of 2,666,294,373.18, reflecting the adjustments made under the new accounting standards[33] - The company reported a provision for bad debts of CNY 2.72 million as of September 30, 2021, following a cautious assessment of the debts related to the bankrupt subsidiary[20]