CAISSA TOURISM(000796)2024-04-25 16:56Financial Performance - The company's operating revenue for 2022 was ¥306,511,188.76, a decrease of 67.39% compared to ¥939,943,076.83 in 2021[30]. - The net profit attributable to shareholders for 2022 was -¥1,035,231,515.96, representing a decline of 50.08% from -¥689,774,420.35 in 2021[30]. - The cash flow from operating activities for 2022 was -¥383,392,186.86, a significant decrease of 352.89% compared to -¥84,654,019.91 in 2021[30]. - The total assets at the end of 2022 were ¥2,437,081,970.46, down 28.98% from ¥3,431,759,274.78 at the end of 2021[30]. - The net assets attributable to shareholders at the end of 2022 were -¥945,519,991.08, a decrease of 799.44% from ¥135,182,894.20 at the end of 2021[30]. - The basic earnings per share for 2022 was -0.6455, an improvement of 24.85% compared to -0.859 in 2021[30]. - Total revenue for 2022 was ¥306,511,188.76, a decrease of 67.39% compared to ¥939,943,076.83 in 2021[70]. - Catering business revenue was ¥196,740,968.53, accounting for 64.19% of total revenue, down 59.40% from ¥484,569,157.28 in 2021[70]. - Tourism service revenue dropped to ¥62,055,663.45, representing 20.25% of total revenue, a decline of 82.45% from ¥353,556,687.98 in 2021[70]. - The company reported a total revenue of 1.6 billion in 2022, reflecting a year-over-year increase of 20%[123]. - The company reported a total revenue of 36,200 million CNY for the year 2022, with a net profit margin of approximately 21.88%[192]. Audit and Compliance - The company received an "unable to express opinion" audit report for the 2022 financial report, indicating significant concerns regarding financial accuracy and completeness[6]. - The board of directors and supervisory board have issued special statements regarding the audit report and the company's financial situation, urging investors to pay attention to investment risks[6]. - The company has reported uncertainty regarding its ability to continue as a going concern, as indicated in the latest audit report[30]. - The internal control audit report issued a negative opinion due to the presence of major defects affecting the financial reporting[161]. - The company is committed to strengthening governance and compliance to protect the interests of all shareholders[163]. - The board of directors is taking measures to address the issues raised in the audit report to protect the interests of investors[200]. Market Conditions and Competition - The company faced major impacts on its operating performance due to macroeconomic conditions over the past three years, including natural disasters and public health events[7]. - The company is experiencing intensified market competition and risks related to exchange rate fluctuations[8]. - The overall economic recovery in tourism showed significant fluctuations, with a gradual market rebound in the second half of 2022 due to macro policy adjustments[51]. - In 2022, the domestic tourism market in China saw a total of 2.53 billion trips, a year-on-year decrease of approximately 20%[42]. - Domestic tourism revenue reached 2.04 trillion yuan, down 30% year-on-year, marking the lowest in three years[42]. Strategic Initiatives and Future Outlook - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves for the fiscal year 2022[9]. - The company has not provided specific performance guidance for the upcoming fiscal year, reflecting uncertainty in future operations[8]. - The company expects China's economy to grow by 5.2% in 2023, with domestic tourism expected to recover to 70% of pre-2020 levels[103]. - International flight volumes are projected to recover to about 50% of pre-2020 levels in 2023, with potential growth beyond 2019 levels in 2024[103]. - The company plans to deepen its "Hainan strategy" to leverage Hainan's international development, enhancing inbound and outbound tourism services[109]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its offerings[125]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million allocated for potential deals[123]. Operational Changes and Management - The company has undergone changes in its registered address and corporate structure, which may impact its operational strategy[24]. - The company has undergone several changes in its main business since its listing, shifting from retail to aviation food and railway catering, and later adding tourism service management[28]. - The company has established an independent financial department with a compliant financial accounting system, enabling autonomous financial decision-making[118]. - The company has undergone significant management changes, with multiple directors and executives resigning or being appointed, including the appointment of a new president on March 17, 2022[126]. - The company is focusing on performance incentives and efficiency output in its compensation policy due to significant impacts from macroeconomic fluctuations[150]. User Engagement and Product Development - User data showed an increase in active users by 15% compared to the previous year, reaching a total of 2.5 million active users[123]. - The company is investing 200 million in research and development for new technologies aimed at enhancing user experience[123]. - The company is focusing on expanding its destination management services under the leadership of Vice President Zhang Rui[130]. - The company is actively involved in the tourism sector, leveraging its management expertise to enhance operational efficiency[130]. - The company is exploring new product development and technology advancements to drive market expansion and improve operational efficiency[196]. Related Party Transactions and Governance - The company is actively fulfilling commitments related to related party transactions and ensuring fair pricing in transactions with its subsidiaries[171]. - The company has established long-term cooperation agreements with six catering companies, ensuring service quality at fair prices[172]. - The company has committed to avoiding any direct or indirect competition with its main business activities, ensuring compliance with competitive regulations[173]. - The company confirmed that all commitments made are independently enforceable, and any invalid or terminated commitment will not affect the validity of other commitments[175]. - The company has committed to maintaining compliance with legal and regulatory requirements regarding related party transactions, ensuring transparency and fairness[190]. Employee and Training Initiatives - The total number of employees at the end of the reporting period was 4,270, with 4,054 receiving salaries[149]. - The company has implemented online training initiatives to improve employee skills and management capabilities amid macroeconomic challenges[151]. - The company has a total of 74 employees with postgraduate degrees and 872 with bachelor's degrees[149]. - The company has no stock incentive plans, employee stock ownership plans, or other employee incentive measures in place during the reporting period[154].