丽江股份(002033) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥358,348,180.31, a decrease of 16.87% compared to ¥431,044,774.38 in 2020[18]. - The net profit attributable to shareholders was a loss of ¥37,803,207.56, representing a decline of 153.63% from a profit of ¥70,489,807.73 in 2020[18]. - The net cash flow from operating activities was ¥1,487,647.65, down 99.08% from ¥161,382,645.01 in the previous year[18]. - The basic earnings per share were -¥0.0688, a decrease of 153.62% compared to ¥0.1283 in 2020[18]. - Total assets at the end of 2021 were ¥2,690,235,513.89, a decrease of 5.17% from ¥2,836,940,274.42 at the end of 2020[18]. - The net assets attributable to shareholders decreased by 5.77% to ¥2,412,031,497.80 from ¥2,559,605,759.22 in 2020[18]. - The company reported a weighted average return on equity of -1.53%, down from 2.76% in 2020[18]. - The net profit after deducting non-recurring gains and losses was -¥32,825,352.02, a decline of 146.28% from ¥70,933,636.17 in 2020[18]. - The company indicated uncertainty regarding its ability to continue as a going concern, as the net profit for the last three accounting years has been negative[18]. Revenue and Visitor Statistics - The company received a total of 2.16 million visitors across its three cable cars, representing a year-on-year decrease of 22.40%[37]. - The Yulong Snow Mountain cable car received 1.53 million visitors, down 16.15% year-on-year, while the Yunshanping cable car saw a 29.52% decline with 0.59 million visitors[37]. - The company’s hotel segment, including the InterContinental and Indigo hotels, generated revenue of CNY 80.99 million, a decrease of 14.57% year-on-year[37]. - The third quarter is traditionally the peak season for tourism, driven by summer vacations, which significantly impacts the company's revenue streams from cableway transport and dining services[31]. Operational Challenges - The tourism industry, in which the company operates, faced severe impacts due to ongoing COVID-19 pandemic challenges, including multiple suspensions of inter-provincial travel in Yunnan Province[28]. - The company faced significant operational disruptions due to COVID-19, with a total of 92 days of suspended cross-province tourism activities[37]. - The company reported a significant decrease in depreciation for the cableway segment by 57.78% due to the completion of depreciation for certain fixed assets[50]. Strategic Initiatives and Future Plans - The company plans to expand its projects in the Greater Shangri-La tourism ecosystem, including the completion of the Lugu Lake Mosuo Town project and the Yulong Snow Mountain visitor center[39][40]. - The company aims to create 2 additional 5A-level scenic spots and 2 national-level tourist resorts as part of its development strategy[80]. - The company is focusing on three market segments: mass sightseeing, leisure vacation, and ecological special tourism, to expand its business[81]. - The company plans to enhance its marketing strategy by upgrading its smart marketing system to expand from "one machine to tour the snow mountain" to "one machine to tour Lijiang," aiming to cover all tourism resources in Lijiang[86]. - The company will actively seek investment opportunities in tourism resource development in areas like Lashi Lake and the Jinsha River tourism belt, with plans for new projects and potential acquisitions[88]. Governance and Management - The company has established a modern governance structure with a board of directors, supervisory board, and management team to ensure effective decision-making and oversight[91]. - The board of directors confirmed that there are no significant discrepancies between the company's governance practices and regulatory requirements[99]. - The company maintains a strong independence from its controlling shareholder, ensuring operational and financial autonomy[98]. - The company has established various internal management systems, including the subsidiary management system and internal audit management system, to ensure effective control over subsidiaries[133]. Environmental and Social Responsibility - The company has implemented environmental protection measures, including the establishment of a long-term mechanism to ensure sustainable development of the scenic area[139]. - The company has committed to an environmentally friendly and energy-saving development approach, ensuring all investment projects meet environmental protection requirements[139]. - The company emphasizes a "poverty alleviation first, education first" approach, providing various forms of educational support to Yilong Village annually[143]. - The company has deployed 3 well-respected team members to assist in poverty alleviation efforts in Yilong Village despite operational difficulties due to the COVID-19 pandemic[142]. Financial Management and Investments - The company reported a total distributable profit of ¥1,060,849,307.16, but did not propose any cash dividends or stock bonuses for the reporting period[131]. - The company has a total of CNY 211.22 million in unused raised funds, with CNY 100 million invested in structured deposits and the remainder held in a dedicated account[67]. - The company reported a significant increase in investment activity cash flow net amount by 305.63% to -¥177,387,932.14 in 2021 from -¥43,731,329.42 in 2020[58]. Audit and Compliance - The audit opinion for Lijiang Yulong Tourism Co., Ltd. is a standard unqualified opinion, indicating that the financial statements fairly present the company's financial position as of December 31, 2021[197]. - The financial statements were prepared in accordance with the accounting standards for enterprises, reflecting the company's operating results and cash flows for the year 2021[197]. - Key audit matters include revenue recognition, which is critical for the financial statement audit[200].