丽江股份(002033) - 2022 Q3 - 季度财报

Main Financial Data Key Accounting Data and Financial Indicators In Q3 2022, the company's performance showed explosive growth due to a low base from the prior year's pandemic impact, with single-quarter operating revenue increasing by 101.91% and net profit attributable to shareholders surging by 8,764.15%; however, year-to-date operating revenue decreased by 11.64%, while cumulative net profit attributable to shareholders grew by 143.52% benefiting from non-recurring gains Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3 2022) | YoY Change (Current Period) | Year-to-Date | YoY Change (Year-to-Date) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 177,489,410.49 | 101.91% | 256,460,761.19 | -11.64% | | Net Profit Attributable to Shareholders (RMB) | 80,107,705.06 | 8,764.15% | 26,688,034.28 | 143.52% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 70,236,224.01 | 1,782,962.48% | 10,374,215.10 | -6.82% | | Net Cash Flow from Operating Activities (RMB) | — | — | 131,911,155.58 | 346.38% | | Basic Earnings Per Share (RMB/share) | 0.1458 | 9,012.50% | 0.0486 | 144.22% | | Total Assets (RMB) | 2,720,750,303.84 | 1.13% (vs. end of prior year) | 2,720,750,303.84 | 1.13% (vs. end of prior year) | | Total Equity Attributable to Shareholders (RMB) | 2,438,772,476.72 | 1.11% (vs. end of prior year) | 2,438,772,476.72 | 1.11% (vs. end of prior year) | Non-recurring Gains and Losses and Amounts Year-to-date, the company's total non-recurring gains and losses amounted to RMB 16.31 million, primarily driven by a RMB 9.77 million gain from the disposal of Nuomeile Company equity, along with government subsidies and structured deposit interest Major Non-recurring Gains and Losses Year-to-Date | Item | Amount Year-to-Date (RMB) | Description | | :--- | :--- | :--- | | Other gains and losses meeting the definition of non-recurring items | 10,446,937.44 | Primarily a RMB 9.77 million gain from disposal of Nuomeile Company equity | | Government subsidies recognized in current profit or loss | 8,020,813.70 | Primarily RMB 4 million environmental funds exempted by Lijiang Municipal Government and other subsidies | | Fair value changes from transactional financial assets | 1,537,102.09 | Primarily interest from structured deposits | | Total | 16,313,819.18 | -- | Analysis of Changes in Key Financial Indicators During the reporting period, several financial indicators showed significant changes, with Q3 performance growth primarily due to a low base from the prior year's pandemic impact; construction in progress substantially increased due to project advancement, while long-term equity investments decreased due to equity transfer; management expenses declined due to accounting adjustments, and investment income significantly rose from equity disposal - Operating revenue and net profit in the current period (Q3) significantly increased year-on-year, primarily due to a low comparative base from the prior year's pandemic impact and suspension of inter-provincial tourism[9] - The ending balance of construction in progress increased by 63.35% from the beginning of the year, mainly due to continuous investment in the Mosuo Town and Ganhaizi Tourist Distribution Center projects[10] - Management expenses decreased by 39.73% year-on-year, primarily due to the reclassification of Hofu Hotel's depreciation and amortization to operating costs, and the inclusion of start-up expenses for Diqing Moonlight City Indigo Hotel in the prior period[12] - Investment income increased by 1196.16% year-on-year, mainly from the gain on disposal of Nuomeile Company equity in the current period[12] Shareholder Information Common Shareholder Information As of the end of the reporting period, the company had 43,794 common shareholders, with Lijiang Yulong Snow Mountain Tourism Development Co., Ltd. (15.73% stake) and Huabang Life Health Co., Ltd. (14.26% stake) as the top two, forming a concerted action relationship - As of the end of the reporting period, the company had 43,794 common shareholders[16] Top Five Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Lijiang Yulong Snow Mountain Tourism Development Co., Ltd. | State-owned Legal Person | 15.73% | 86,438,390 | | Huabang Life Health Co., Ltd. | Domestic Non-state-owned Legal Person | 14.26% | 78,370,500 | | Yunnan Provincial Investment Holding Group Co., Ltd. | State-owned Legal Person | 9.20% | 50,563,500 | | Lijiang Yulong Snow Mountain Scenic Area Investment Management Co., Ltd. | State-owned Legal Person | 5.81% | 31,902,745 | | Chen Shihui | Domestic Natural Person | 5.14% | 28,245,427 | - Lijiang Yulong Snow Mountain Tourism Development Co., Ltd. and Huabang Life Health Co., Ltd. constitute a concerted action relationship[17] Preferred Shareholder Information The company has no preferred shareholders - During the reporting period, the company had no preferred shareholders[19] Other Significant Matters The company disclosed progress on two core construction projects: the Indigo Hotel within the Lugu Lake Mosuo Town project is progressing well with the guest room main structure topped out, and the civil engineering for the Yulong Snow Mountain Scenic Area Ganhaizi Tourist Distribution Center project is largely complete, indicating steady advancement of key investment initiatives - The hotel brand within the Lugu Lake Mosuo Town project has been upgraded from "Holiday Resort" to "Indigo," with the total investment adjusted to RMB 317 million; the main structure of the guest room area has been topped out[19][20] - The Yulong Snow Mountain Scenic Area Ganhaizi Tourist Distribution Center project is progressing smoothly, with roof pouring completed and civil engineering largely finished, accumulating an investment of approximately RMB 47 million[20] Quarterly Financial Statements Financial Statements This section presents the company's consolidated balance sheet as of September 30, 2022, and the consolidated income statement and consolidated cash flow statement for the year-to-date period Consolidated Balance Sheet As of September 30, 2022, the company's total assets were RMB 2.72 billion, a 1.13% increase from the beginning of the year; total liabilities were RMB 172.36 million, a decrease from the beginning of the year; and total equity attributable to the parent company was RMB 2.44 billion, indicating a stable asset structure Key Balance Sheet Items | Item | September 30, 2022 (RMB) | January 1, 2022 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,720,750,303.84 | 2,690,235,513.89 | 1.13% | | Total Liabilities | 172,355,225.45 | 179,090,602.11 | -3.76% | | Total Equity Attributable to Parent Company Shareholders | 2,438,772,476.72 | 2,412,031,497.80 | 1.11% | Consolidated Income Statement (Year-to-Date) In the first three quarters of 2022, the company achieved operating revenue of RMB 256.46 million, a 11.64% year-on-year decrease; despite the revenue decline, operating profit was RMB 31.77 million, total profit was RMB 36.23 million, and net profit attributable to parent company shareholders reached RMB 26.69 million, increasing by 143.52% year-on-year, benefiting from increased investment income and cost control Key Income Statement Items (Year-to-Date) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 256,460,761.19 | 290,258,180.51 | -11.64% | | Operating Profit | 31,773,294.38 | 33,786,995.62 | -5.96% | | Total Profit | 36,233,507.37 | 30,282,688.01 | 19.65% | | Net Profit Attributable to Parent Company Shareholders | 26,688,034.28 | 10,959,382.36 | 143.52% | Consolidated Cash Flow Statement (Year-to-Date) In the first three quarters of 2022, net cash flow from operating activities was RMB 131.91 million, a significant 346.38% year-on-year increase, primarily due to increased tax refunds and reduced cost expenditures; net cash outflow from investing activities was RMB 158.64 million, mainly for project construction and wealth management product purchases; and net cash outflow from financing activities significantly decreased due to no cash dividends in the current period Key Cash Flow Statement Items (Year-to-Date) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 131,911,155.58 | 29,551,021.73 | 346.38% | | Net Cash Flow from Investing Activities | -158,637,533.75 | -151,377,581.31 | -4.80% | | Net Cash Flow from Financing Activities | -440,700.00 | -110,224,942.20 | 99.60% | | Net Increase in Cash and Cash Equivalents | -27,167,078.17 | -232,051,501.78 | 88.29% | Audit Report The company's Q3 2022 report is unaudited - The company explicitly states that this quarterly report is unaudited[33]