西安旅游2025年中报简析：亏损收窄

Core Viewpoint - Xi'an Tourism reported a narrowing loss in its 2025 interim financial results, with total operating revenue declining and net profit showing a slight improvement compared to the previous year [1] Financial Performance - Total operating revenue for 2025 was 218 million yuan, a decrease of 13.54% year-on-year from 252 million yuan in 2024 [1] - The net profit attributable to shareholders was -55.99 million yuan, an improvement of 12.06% from -63.66 million yuan in the previous year [1] - The gross profit margin was 2.09%, down 48.19% from 4.03% in 2024 [1] - The net profit margin was -28.28%, a slight decrease of 3.17% from -27.41% in 2024 [1] - Total expenses (selling, administrative, and financial) amounted to 63.49 million yuan, accounting for 29.12% of revenue, a decrease of 2.18% year-on-year [1] Cash Flow and Debt Situation - Cash and cash equivalents decreased to 134 million yuan, down 28.68% from 188 million yuan in 2024 [1] - Accounts receivable decreased to 53.43 million yuan, a decline of 33.98% from 80.93 million yuan [1] - Interest-bearing liabilities increased to 935 million yuan, up 6.40% from 879 million yuan [1] - The company has a cash flow situation that requires attention, with cash and cash equivalents to current liabilities ratio at 14.79% [3] Strategic Focus - The company is focusing on reducing losses and improving efficiency through several strategies, including expanding its hotel business and enhancing the travel agency's profitability [3] - The company aims to leverage its tourism resources to improve its main business and drive quality enhancement [3]