*ST西域(300859) - 2020 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2020 was ¥19,099,912.43, a decrease of 69.06% compared to ¥61,737,968.23 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥23,599,985.79, representing a decline of 768.06% from a profit of ¥3,532,599.84 in the previous year[17]. - The net cash flow from operating activities was negative at ¥18,421,147.95, down 182.55% from ¥22,316,395.04 in the same period last year[17]. - The basic earnings per share were -¥0.20, a decline of 766.67% compared to ¥0.03 in the same period last year[17]. - The company reported a significant reduction in tax expenses, down 79.07% to CNY 0.38 million due to losses in the first half of the year[39]. - The company reported a net profit loss for the first half of 2020, with significant reductions in both revenue and profit margins compared to the previous year[124]. - The total comprehensive income for the first half of 2020 was 3,697 million yuan, a decrease of 515.65 million yuan compared to the previous period[142]. Assets and Liabilities - The total assets at the end of the reporting period were ¥499,125,745.25, a decrease of 4.60% from ¥523,195,866.94 at the end of the previous year[17]. - The net assets attributable to shareholders decreased by 5.67% to ¥392,527,901.90 from ¥416,102,830.25 at the end of the previous year[17]. - The asset-liability ratio at the end of the reporting period was 21.38%[37]. - The total liabilities amounted to CNY 106,707,676.89, slightly down from CNY 106,846,476.93, indicating a marginal decrease of 0.1%[119]. - The total current liabilities decreased to CNY 39,264,611.60 from CNY 55,713,221.17, a reduction of 29.5%[119]. Operational Challenges - The company faced significant operational challenges due to external factors impacting the tourism industry[4]. - The tourism industry is significantly affected by macroeconomic conditions, and any downturn could adversely impact consumer spending and the company's performance[60]. - The company faces risks from natural disasters and pandemics, which can severely affect tourism demand and operational performance[61]. - Seasonal risks are present, with a notable decline in visitor numbers during the winter months, impacting profitability[63]. Strategic Initiatives - The company aims to leverage the recovery of the tourism market post-COVID-19, focusing on resource integration and business diversification to enhance competitiveness[29]. - The company has implemented various measures to enhance winter tourism activities to mitigate seasonal impacts[63]. - The company is focusing on cost control and operational efficiency to navigate the challenging market conditions[124]. Investments and Subsidiaries - The company holds a 36.22% stake in the Turpan Flaming Mountain project, with long-term equity investments accounting for 14.05% of total assets as of June 30, 2020, an increase of 13.75 percentage points year-on-year[30]. - The company has five wholly-owned subsidiaries and three affiliated companies, with the subsidiary Xinjiang Wucai Bay Tourism Entertainment Co., Ltd. contributing a net profit impact of over 10% to the company's overall performance[57]. - The company made an investment of CNY 55.03 million during the reporting period, a 100% increase from CNY 0 in the same period last year[47]. Compliance and Governance - The half-year report has not been audited, and no bankruptcy restructuring has occurred during the reporting period[70][72]. - The company has not experienced any significant litigation or arbitration matters during the reporting period, indicating no expected liabilities[73]. - There were no major penalties or rectifications reported during the reporting period, reflecting compliance with regulations[75]. - The company did not engage in any significant related party transactions during the reporting period, ensuring transparency in operations[77]. Cash Flow and Financial Management - The cash flow from operating activities in the first half of 2020 was ¥17,532,862.39, a decrease from ¥64,228,627.56 in the first half of 2019[132]. - The company reported a significant decline in cash received from sales of goods and services, totaling 13,539,647.44 CNY compared to 51,190,657.64 CNY in the first half of 2019[136]. - The company raised 27,000,000.00 CNY through borrowing, contributing to a net cash flow from financing activities of 13,283,310.46 CNY[134]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status[155]. - The company uses Renminbi as its functional currency for accounting purposes[157]. - The consolidated financial statements include all subsidiaries under the company's control, reflecting the overall financial status and results of the entire corporate group[159].