*ST西域(300859) - 2020 Q4 - 年度财报

Financial Performance - In 2020, the company reported a revenue of CNY 51.19 million, a decrease of 78.76% compared to CNY 240.96 million in 2019[6] - The net profit attributable to shareholders was a loss of CNY 43.26 million, representing a decline of 158.81% from a profit of CNY 73.55 million in 2019[6] - The net profit after deducting non-recurring gains and losses was a loss of CNY 46.85 million, down 164.21% from a profit of CNY 72.96 million in 2019[6] - The company experienced a net cash flow from operating activities of -CNY 26.56 million, a decrease of 122.60% compared to CNY 117.53 million in 2019[6] - Basic and diluted earnings per share were both -CNY 0.33, a decline of 152.38% from CNY 0.63 in 2019[6] - The company reported a total of CNY 3,590,040.07 in non-recurring gains and losses for the year, including government subsidies[27] - The company reported a gross margin of 2.02% for its main tourism business, down 58.37% year-on-year[54] - The company focused on cost control, with operating costs for the main tourism business decreasing by 49.05% to 47.99 million yuan[56] - The company reported a total revenue of 4,352,245 CNY with a net loss of 5,198,533 CNY for its subsidiary, Bay Hot Spring Entertainment[90] - The company reported a net loss of 1,192,812 CNY for its subsidiary, Yaochi Tourism Transportation[90] Impact of COVID-19 - The COVID-19 pandemic significantly impacted the tourism industry, with visitor numbers down 81% year-on-year[6] - The company faces uncertainty regarding future operations due to the ongoing effects of the pandemic[7] - The company's operating revenue and net profit significantly declined in 2020, with domestic tourism numbers dropping by 52.1% year-on-year to 2.879 billion trips due to the impact of the COVID-19 pandemic[46] - The company has implemented various tourism incentives, including free admission to A-level scenic spots, to support the rapid recovery of the local tourism industry[46] - The company emphasized safety and standardization in operations during the pandemic, enhancing service quality[47] Business Operations - The company operates 253 vehicles for passenger transport in the Tianshan Tianchi scenic area, which is a core business segment[30] - The Ma Ya Mountain cableway, a key revenue source, has a height difference of approximately 312 meters and is equipped with French Poma technology[31] - The company offers various winter tourism activities on the frozen lake, including ice skating and snowmobile rides[31] - The Five Color Bay hot spring resort features a unique hot spring with a water temperature of up to 75 degrees Celsius, attracting visitors year-round[31] - The company has developed a complete tourism business chain, integrating various elements of tourism services[30] - The company continues to expand its travel agency services, catering to both domestic and international tourists[32] - The company holds a 36.22% stake in the Turpan Flaming Mountain tourism project and a 20% stake in the Xinjiang Natural Fragrance Agricultural Technology Co., enhancing its diversified business model[41] - The company has a unique operating right for the Tianshan Tianchi scenic area, valid for 30 years, which strengthens its competitive advantage[39] Financial Management and Fundraising - The company plans not to distribute cash dividends or issue bonus shares[8] - The company reported a total fundraising amount of RMB 236,694,700 after deducting underwriting fees and other related expenses[82] - As of the reporting period, the company has utilized RMB 67,000,000 of the raised funds, with the remaining RMB 170,003,200 yet to be used[82] - The company has invested RMB 80,000,000 in financial products, with a fair value change of RMB 246,575.34 during the reporting period[79] - The company has a total of RMB 9,181,080 in its special account for raised funds as of the end of the reporting period[82] - The company plans to implement the fundraising projects according to the original plan[82] - The company reported a net interest income of RMB 308,500 from the raised funds after deducting bank fees[82] Shareholder and Governance Matters - The company has established a sound corporate governance structure to protect the rights of shareholders and creditors[167] - The independent directors have expressed agreement with the profit distribution plan for 2020[101] - The company has not proposed any cash dividend distribution for the last three years, focusing on retaining earnings for future growth[104] - The company’s performance in 2020 reflects the challenges posed by the pandemic, necessitating a conservative approach to profit distribution[101] - The board's decision on profit distribution is pending approval from the upcoming annual shareholder meeting[101] Future Outlook and Strategy - The company aims to enhance tourist satisfaction and expand its service capacity, focusing on the Tianshan Tianchi scenic area as a key attraction[91] - The company plans to develop new tourism products and business models, leveraging the Tianshan Tianchi scenic area to increase visitor capacity and diversify offerings[92] - The company intends to establish a cultural tourism fund to invest in quality projects, aiming to improve performance and optimize tourism development[93] - The company aims to become the most influential comprehensive tourism service enterprise in Xinjiang, with a strong performance and stable growth[95] - The company plans to enhance its operational efficiency and improve its tourism industry chain over the next two to three years[91] Compliance and Regulatory Matters - The company has committed to compensating investors for any losses incurred due to false statements or omissions in its prospectus, ensuring investor protection[136] - The company is actively engaged in discussions with regulatory bodies to ensure compliance and address any potential legal issues arising from its financial disclosures[136] - The company has retained the same accounting firm, Lixin Accounting Firm, for 4 consecutive years, with an audit fee of 900,000 RMB[144] - The company has not reported any significant audit issues or non-standard audit reports for the reporting period, reflecting sound financial practices[139] Market Position and Competition - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[107] - The company plans to acquire a local competitor, which is expected to enhance its service offerings and increase market share by 15%[109] - The company has committed to measures to mitigate the risk of dilution of immediate returns for investors[131] - The company anticipates a decline in earnings per share in the short term if future business scale and net profit do not increase correspondingly[131]