JINLING HOTEL(SH:601007)2018-03-01 16:00Financial Performance - The net profit attributable to the parent company for 2017 was CNY 103,477,134.30, representing a 148.57% increase compared to CNY 41,628,178.00 in 2016[5]. - The total operating revenue for 2017 reached CNY 938,412,720.82, which is a 12.43% increase from CNY 834,650,864.45 in 2016[23]. - The basic earnings per share for 2017 was CNY 0.345, up 148.20% from CNY 0.139 in 2016[24]. - The net profit after deducting non-recurring gains and losses was CNY 85,257,065.43, a significant increase of 373.34% from CNY 18,011,543.61 in 2016[23]. - The company achieved a total revenue of 938.41 million yuan in 2017, representing a year-on-year growth of 12.43%[49]. - The net profit attributable to the parent company was 103.48 million yuan, marking a significant growth of 148.57% compared to the previous year[49]. - Hotel business revenue reached 457.34 million yuan, with a year-on-year increase of 10.29%[49]. - The company achieved a net profit of 33.77 million yuan for the year, a significant increase from 3.29 million yuan in the previous year, marking a growth of over 900%[52]. - The company reported a net profit attributable to ordinary shareholders of RMB 103.48 million for the fiscal year 2017, with a cash dividend payout ratio of 69.58%[101]. Cash Flow and Assets - The net cash flow from operating activities for 2017 was CNY 283,411,099.05, a 143.94% increase from CNY 116,178,640.14 in 2016[23]. - The total assets at the end of 2017 were CNY 2,958,112,536.09, a decrease of 3.30% from CNY 3,059,195,645.74 at the end of 2016[23]. - The company’s total assets were 2.958 billion yuan at the end of the reporting period, a decrease of 3.30% from the previous year[49]. - The cash and cash equivalents at the end of the year were 172,112,803.56 CNY, down from 208,621,069.10 CNY at the beginning of the year, indicating a decrease of 17.4%[188]. - The company reported a cash inflow from financing activities of 36,000,000.00 RMB, primarily from dividend payments and interest[193]. Operational Highlights - The company operates 136 hotels across 74 cities, maintaining a leading position in the hotel industry in China[35]. - The company has secured distribution rights for over 400 types of alcoholic beverages, becoming the largest operator of mid-to-high-end liquor brands in Jiangsu Province[36]. - The company achieved operating revenue of 938.41 million yuan, an increase of 12.43% year-on-year[56]. - The company operates 136 chain hotels across 16 provinces and 74 cities, ranking 41st among the "Top 50 Global Hotel Groups" in terms of management scale[40]. - The company has established a comprehensive trade operation system, becoming the largest operator of mid-to-high-end liquor brands in Jiangsu province with over 400 varieties[42]. Strategic Initiatives - The company aims to continue expanding its market presence and enhancing its operational capabilities through innovative business models and strategic investments[35]. - The company is focusing on multi-brand development and aims to establish a new brand system to enhance competitiveness and influence in the hotel industry[91]. - The company is developing the "Tianquan Lake Tourism Ecological Park" and has initiated interior decoration and supporting projects for the Zixialing Lakeside Project[92]. - The company is expanding its e-commerce platform for hotel supplies, aiming to increase transaction volume and reduce operational costs[93]. - The company is committed to enhancing its core competitiveness and sustainable profitability through innovation and resource integration[91]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 1,382, with 939 in the parent company and 443 in subsidiaries[147]. - The company emphasizes employee well-being by offering free health check-ups and organizing various cultural and sports activities[149]. - The company has established a performance-oriented compensation distribution system, linking remuneration to operational and service quality indicators[148]. - The company completed 1,709 training courses, totaling 32,775 hours of training, with 31,347 participants throughout the year[150]. - The board of directors consists of 10 members, including 4 independent directors, complying with legal and regulatory requirements[154]. Market and Economic Outlook - The tourism industry in China contributed over 11% to the national economy in 2017, with a target of 13% growth in total tourism revenue for 2018[89]. - The company anticipates challenges from increased competition in the high-end hotel market, with an expected rise in five-star hotels to 50 in the next three years[94]. - The company is facing risks from global economic uncertainties and tightening monetary policies, which may impact its operations and profitability[94]. Compliance and Governance - The company has committed to strict compliance with national policies and regulations, adapting to changes in the business environment[97]. - The actual controller of the company is the Jiangsu Provincial State-owned Assets Supervision and Administration Commission, ensuring a stable governance structure[106]. - The company has not reported any significant errors in accounting that would require correction, indicating sound financial practices[104]. - The company has no major litigation or arbitration matters during the reporting period, indicating a stable legal standing[106].