Core Viewpoint - In April 2025, the company reported significant financial growth for the year 2024, with a notable increase in net profit and cash flow, while also facing various risks and challenges [1] Financial Metrics Summary - Revenue for 2024 reached 6,455,113,793.27 yuan, a 95.70% increase from 3,298,487,387.88 yuan in the previous year, driven by a full recovery in the tourism market [2] - The wholesale tourism revenue was 4,793,326,984.18 yuan, up 136.43%; retail tourism revenue was 745,595,955.24 yuan, up 59.83%; integrated marketing service revenue was 869,836,054.79 yuan, up 11.61% [2] - Net profit attributable to shareholders was 105,918,494.95 yuan, a 228.18% increase from 32,274,227.71 yuan; net profit excluding non-recurring items was 105,173,136.70 yuan, up 1053.47% [3] - Basic and diluted earnings per share both increased to 0.108 yuan, a growth of 227.27% from 0.033 yuan [4] - Sales expenses rose to 547,586,109.95 yuan, a 103.29% increase, while management expenses grew by 19.40% to 126,722,099.38 yuan; financial expenses decreased by 44.11% to 8,679,182.77 yuan [4] Cash Flow Summary - Net cash flow from operating activities was 347,407,687.74 yuan, a 104.45% increase from 169,918,987.17 yuan, indicating improved cash generation capability [5] - Net cash flow from investing activities was 1,926,381.16 yuan, a significant recovery from -88,353,656.74 yuan in the previous year [5] - Net cash flow from financing activities was -287,436,825.55 yuan, reflecting adjustments in funding and repayment strategies [5] Risk Factors Analysis - The company faces macroeconomic volatility risks, as tourism is significantly influenced by economic indicators such as GDP and disposable income [6] - Increased market competition poses a challenge, necessitating continuous innovation and service optimization to maintain competitive advantage [8] - The company is also exposed to risks from uncontrollable factors such as political, economic, and natural events that can impact travel choices [9] - Service quality control risks are present, as maintaining high service standards is crucial in the tourism industry [10] - Currency fluctuation risks exist due to the nature of the business, which involves foreign currency procurement [11] - Acquisition and integration risks are associated with cross-border mergers and acquisitions, which may not yield expected benefits if not managed properly [12] Management Compensation - The total remuneration for the board of directors, supervisors, and senior management was 3.3174 million yuan, with the chairman and CEO receiving a pre-tax total of 720,000 yuan, reflecting a performance-linked incentive mechanism [13]

智通财经APP获悉，在美联储独立性危机与关税争端升级的夹击下，国际资本正加速逃离美元资产。周二外汇市场传来惊雷：日元兑美元汇率一举突破被视 为重要心理关口的140大关，单日飙升0.7%至1美元兑139.90日元，创下去年九月以来的最高水平，稳居当日G10货币涨幅榜首位。截至发稿，日元兑美元汇 率下跌0.37%，至1美元兑140.34日元。 技术面上，日元升势已触发关键转折点。瑞穗证券分析指出，伴随美股回调及日美财长即将展开的货币谈判，汇率可能测试去年创造的139.58高点。这可能 有助于进一步升值。 东海东京情报研究所(Tokai Tokyo Intelligence Laboratory Co.)高级固定收益和外汇策略师柴田英树(Hideki Shibata)警告，"如果日元明显超过140的水平，或者 去年9月触及的139.50附近水平，技术因素将更容易引发日元买盘和美元卖盘，从而加速日元升值。" 投机资本的动向更印证了这轮升势的强劲。美国商品期货交易委员会最新数据显示，对冲基金对日元的看涨仓位已达历史峰值。市场正屏息以待日本财务大 臣加藤胜信与美国财政部长斯科特・贝森特的关键会晤，特朗普曾多次抨击日本刻意 ...

美元兑日元USD/JPY周一盘初累跌近30点，跌破142，现报141.86。 ...