LN Holdings(000524)2024-06-07 11:25Group 1: Business Recovery and Growth - In 2023, Guangzhou Lingnan Group's travel business experienced a full recovery and accelerated development, with outbound travel revenue reaching CNY 75,893.15 million and domestic travel revenue at CNY 134,225.34 million, resulting in a total revenue of CNY 225,000.49 million, a year-on-year increase of 569.62% [2] - The company added over 100 new resource suppliers and organized 50 outbound travel teams covering more than 60 countries and regions [1] Group 2: Financial Performance - In 2023, the net profit was CNY 2,244.39 million, with a net profit attributable to shareholders of CNY 1,081.54 million, marking a turnaround from losses in the previous year [2] - For Q1 2024, the company reported a revenue of CNY 90,143.29 million, a year-on-year increase of 89.02%, and a net profit attributable to shareholders of CNY 2,411.25 million, up 176.89% [3] Group 3: Hotel and Accommodation Business - In 2023, the hotel management business expanded, with revenue reaching CNY 20,972.56 million, a 40.89% increase from the previous year and a 95.85% increase compared to 2019 [2] - The hotel operating business, including Guangzhou Huayuan Hotel, achieved a total revenue of CNY 95,942.68 million, reflecting a year-on-year growth of 73.42% [3] Group 4: Exhibition and Event Management - The company has developed an integrated exhibition operation model, successfully managing events like the Guangdong International Tourism Industry Expo and the Cantonese Cultural Carnival [3] - The subsidiary, Guangzhou Guangzhilv International Exhibition Service Co., has been executing international cooperation zones for three consecutive years [3] Group 5: Scenic Area Management - The company has extensive experience in scenic area management, currently managing several projects including the 5A-level Baiyun Mountain Mingchun Valley and 4A-level Gaodang Qianian Buyi Ancient Village [4] - The scenic area business is expanding beyond Guangdong, with projects in Guizhou and other provinces [4] Group 6: Future Plans and Shareholder Commitments - The controlling shareholder, Guangzhou Lingnan International Enterprise Group, signed an agreement to acquire 70% of Urban Hotel's equity, with management to be entrusted to Lingnan Hotel Management for three years [5] - The commitment includes avoiding competition and ensuring compliance with regulations to protect the interests of the company and minority shareholders [5]