EMEI SHAN(000888)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥431,091,359.44, a decrease of 31.43% compared to ¥628,714,261.98 in 2021[21]. - The net profit attributable to shareholders for 2022 was -¥145,825,735.42, representing a decline of 906.35% from ¥18,084,562.88 in 2021[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥153,726,641.43, a decrease of 2,880.68% compared to ¥5,528,382.88 in 2021[21]. - Cash generated from operating activities was -¥12,689,402.56, down 106.47% from ¥196,007,384.43 in 2021[21]. - The total assets at the end of 2022 were CNY 3,081,010,187.33, down 11.66% from CNY 3,487,600,143.33 at the end of 2021[22]. - The net assets attributable to shareholders decreased by 7.27% to CNY 2,262,445,619.96 from CNY 2,439,886,141.50 in 2021[22]. - The company reported a negative cash flow from operating activities of CNY -63,614,432.09 in 2022, compared to a positive cash flow of CNY 28,337,379.75 in 2021[27]. - The total profit for the company was -201.086 million yuan, an increase in loss of 2321.61% year-on-year[42]. - The net profit for 2022 was -203.1861 million yuan, an increase in loss of 653.45% year-on-year[42]. - The revenue from ticket sales was 89.4793 million yuan, a decrease of 43.22% year-on-year[43]. - The revenue from the hotel business was 95.3248 million yuan, down 23.24% year-on-year[43]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company has identified various risks including market, management, and operational risks, with detailed descriptions provided in the report[3]. - The company’s future plans and development strategies are outlined, but they do not constitute a substantive commitment to investors[3]. - The company is focusing on enhancing its tourism offerings, including new products and experiences driven by trends such as local and short-distance travel[32]. - The company is committed to strategic measures to stabilize operations and enhance efficiency in response to the challenging market environment[32]. - The company aims to build a world-class tourism destination, implementing a "Visitor First, Safety First" philosophy to improve service quality and diversify tourism products[40]. - The company is focused on expanding its market presence through the development of educational camps and innovative product offerings, targeting the youth market[41]. - The company plans to enhance market expansion efforts to create new economic support points[43]. - The company aims to transition its business model from ticket sales to a more diversified economy, aligning with its development strategy of "cultural tourism integration" and "expansion and quality improvement"[90]. Operational Developments - The company operates the Jin Ding and Wan Nian cable cars, which have been recognized for their safety and service quality, contributing to the overall tourism experience[34]. - The company operates several hotels, including Hongzhushan Hotel and Emei Mountain Hotel, benefiting from increased tourism and consumer spending, with a focus on enhancing service quality[35]. - The company has developed a smart tourism platform, providing comprehensive solutions for tourism data analysis and online sales, enhancing visitor experience and operational efficiency[38]. - The company has established a smart tourism big data center to improve management efficiency and resource integration, enhancing visitor comfort[40]. - The company has integrated various tourism-related businesses, enhancing customer convenience and satisfaction[50]. - The company has received multiple honors, including UNESCO World Heritage status, which supports its operational development[51]. - The company is focused on cost control, service quality improvement, and market expansion to sustain its competitive position[51]. - The company has committed to invest ¥200 million in the Emei Mountain Tourism Cultural Center project, with a cumulative investment of approximately ¥79.30 million, achieving 1.64% of the expected benefits[85]. Market Trends and Challenges - The company experienced a decline in the average return on equity, which was -6.20% in 2022 compared to 0.74% in 2021[22]. - In 2022, the company received 1.7152 million visitors, a year-on-year decrease of 33.14%[42]. - The company reported a significant impact on retail and group purchase businesses due to ongoing economic conditions, affecting overall performance[86]. - The company recognizes operational risks due to external factors affecting its main revenue sources, such as ticket sales and tourism services, and plans to diversify its tourism-related product offerings[102]. - The company faces competition risks from new attractions emerging in the tourism market and plans to enhance its marketing and service quality to maintain its competitive edge[103]. Governance and Compliance - The company emphasized its governance structure, adhering to legal regulations and ensuring effective decision-making processes[110]. - The company maintained a transparent relationship with shareholders, ensuring equal rights and opportunities for all investors to participate in decision-making[111]. - The company has established a performance evaluation and incentive mechanism for its directors and managers, ensuring transparency and compliance with legal standards[112]. - The company committed to strict information disclosure practices, ensuring accurate and complete information is available to all shareholders[113]. - The company has implemented a robust internal control system, which is deemed effective, although it acknowledges potential deficiencies due to changing business environments[184]. Social Responsibility and Community Engagement - The company actively supported poverty alleviation and rural revitalization efforts in 2022, focusing on Ebian Yi Autonomous County and Maban Yi Autonomous County[200]. - The company implemented an "industry poverty alleviation" strategy, establishing a standardized demonstration area for tea cultivation and processing, which included the donation of high-quality tea seedlings to local farmers[200]. - The company provided training to 285 local tea farmers on scientific planting, pruning, fertilization, pest control, and premium tea production[200]. - The company guaranteed the purchase of green tea leaves at a minimum price, ensuring a stable income for farmers[200]. - The company contributed 1 million yuan in sponsorship for the 14th Provincial Games and raised over 30,000 yuan for educational assistance through employee donations[199].