Sante(SZ:002159)2020-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥97,395,962.44, a decrease of 65.60% compared to ¥283,124,252.34 in the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥113,288,999.80, representing a decline of 204.54% from a loss of ¥37,199,519.44 in the previous year[19]. - The net cash flow from operating activities was negative at ¥53,847,428.79, a decrease of 170.87% compared to a positive cash flow of ¥75,975,540.53 in the same period last year[19]. - The basic earnings per share were -¥0.82, down 203.70% from -¥0.27 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was a loss of ¥152,554,480.85, a decrease of 259.30% from a loss of ¥42,459,141.50 in the same period last year[19]. - The significant decline in revenue and profit was primarily due to the suspension of operations at over 20 tourism projects across 9 provinces starting January 22, 2020, due to the COVID-19 pandemic[39]. - The company's revenue for the reporting period was ¥97,395,962.44, a decrease of 65.60% compared to ¥283,124,252.34 in the same period last year, primarily due to the impact of COVID-19 which led to the suspension of operations from January 22 for 1 to 3 months[59]. - The operating income from the tourism sector was ¥91,143,344.80, accounting for 93.58% of total revenue, which represents a 66.37% decrease from ¥271,025,894.13 in the previous year[61]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,565,909,061.69, a decrease of 10.78% from ¥2,876,048,554.68 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 10.07%, from ¥1,065,755,896.37 to ¥958,428,738.78[19]. - Cash and cash equivalents decreased by 40.91% compared to the beginning of the period, mainly due to loan repayments and interest payments[31]. - Accounts receivable decreased by 32.72% compared to the beginning of the period, primarily due to the collection of 2019 "Great Wuhan Annual Card" settlement payments[31]. - The company's asset-liability ratio for the first half of 2020 was approximately 60.71%, slightly down from the same period last year, but still at a high level[91]. - Total liabilities as of June 30, 2020, were CNY 1.98 billion, a slight decrease from CNY 2.04 billion at the end of 2019, showing a reduction of 2.8%[179]. Operational Adjustments and Strategies - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company does not foresee any significant risks affecting its normal operations[5]. - The company has established a nationwide layout of tourism projects across 9 provinces, including Shaanxi, Guizhou, Hainan, Inner Mongolia, Hubei, and Zhejiang[25]. - The company is focused on expanding its market presence through mergers and acquisitions to enhance profitability and resource control[34]. - The company has implemented various marketing strategies, including over 400 online promotions and 20 cloud tourism videos, achieving a total exposure of 556 million times to boost local tourism demand[47]. - The company is actively applying for government subsidies and engaging in discussions regarding tax and fee reductions to support its operations during the pandemic[87]. - The company has established a special leadership group to coordinate pandemic response efforts and has initiated a comprehensive plan for operational recovery[87]. Community and Social Responsibility - The company reported a total funding of 129.91 million yuan for poverty alleviation efforts[136]. - A total of 61 registered impoverished individuals were helped to escape poverty through the company's initiatives[136]. - The company invested 16.21 million yuan in 10 tourism and e-commerce poverty alleviation projects[136]. - The company provided 39.5 million yuan for vocational skills training to facilitate employment for impoverished individuals[136]. - The company emphasized the importance of tourism as a key industry for poverty alleviation in affected regions[129]. - Over 90% of the company's employees are local residents, contributing to community income during the pandemic[134]. Management and Governance - The management team has undergone a restructuring, with over half of the senior management being from the "post-80s" generation, aiming to enhance operational efficiency and innovation[51]. - The company underwent a significant management change on May 21, 2020, with multiple new appointments and departures, including the election of Zhang Quan as Chairman[166]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period, reflecting a focus on other strategic initiatives[106]. - There were no major lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[102]. Financial Outlook and Future Plans - The company plans to raise ¥363 million through a non-public stock issuance to repay bank loans and supplement working capital, which will help lower the debt-to-asset ratio[49]. - The company aims to capitalize on market opportunities by acquiring and integrating high-quality tourism assets during the industry's consolidation phase[54]. - The company plans to issue up to 41,599,999 A-shares, representing 30% of the total share capital before issuance, to raise a maximum of RMB 391,039,990.60[111]. - The fundraising amount was adjusted to a maximum of RMB 363,165,794.60 due to market conditions and company circumstances[112].