Guilin tourism’s net profit decreased by 333% in the first three quarters, and Danxia hot spring, a subsidiary, went into bankruptcy liquidation

On the evening of October 28, Guilin Tourism Co., Ltd. (hereinafter referred to as Guilin Tourism) released the third quarter report of 2020. In the third quarter, the company realized a revenue of 75.4518 million yuan, a year-on-year decrease of 56.88%; the net profit loss attributable to shareholders of listed companies was 16.633 million yuan, down 136.92% year-on-year. On the whole, Guilin Tourism achieved 171 million yuan of revenue in the first three quarters, a year-on-year decrease of 64.04%; the net profit loss of shareholders of listed companies was 128 million yuan, a year-on-year decrease of 333.19%. The non net profit loss attributable to shareholders of listed companies was 158 million yuan, down 399.42% year on year. In addition, from January to September, Guilin Tourism lost 77.417 million yuan in net cash flow from operating activities, a decrease of 174.7% over the same period of last year.

novel coronavirus pneumonia is a major factor in the performance of Guilin, which has declined 63% over the same period. Among the top ten circulating shareholders, Guilin Tourism Development Corporation (18.36%) was the largest shareholder of the company, Guilin air tourism group and Aladdin legend tourism industry (Beijing) were the second and third largest shareholders respectively, holding 16% and 1.33% respectively. It is worth noting that at present, all 57.616 million shares held by Guilin air tourism group, the second largest shareholder of the company, have been pledged, accounting for 100% of the total shares held by Guilin air tourism group. Danxia Tourism Co., Ltd. (hereinafter referred to as Danxia tourism company) has also issued an application for liquidation of Guilin hot spring (P < p > hereinafter). According to the announcement, in September 2020, Guilin Tourism deliberated and passed the proposal on Zijiang Danxia company’s application for bankruptcy liquidation of Danxia hot spring company. The board of directors and the board of supervisors of the company agreed that Zijiang Danxia company should apply to the court for bankruptcy liquidation of Danxia hot spring company in the capacity of creditor. According to the data, Danxia hot spring company has a registered capital of 10 million yuan, mainly engaged in hot spring, hotel accommodation, catering services, etc. Guilin Zijiang Danxia Tourism Co., Ltd., a wholly-owned subsidiary of Guilin tourism, holds 51% equity of Danxia hot spring company. On October 28, the people’s Court of Ziyuan County of Guangxi Zhuang Autonomous Region said in its ruling that “the application for bankruptcy liquidation of the applicant Guilin Zijiang Danxia Tourism Co., Ltd. against the respondent Guilin Danxia Hot Spring Tourism Co., Ltd. was accepted, and the ruling will take effect from this day.” According to Guilin tourism, Danxia hot spring company officially entered the bankruptcy liquidation procedure after the court of Ziyuan County ruled to accept the above bankruptcy application. After Danxia hot spring company is taken over by the bankruptcy administrator appointed by the court, Danxia hot spring company will no longer be included in the consolidated statement scope of Zijiang Danxia company. According to the official website, Guilin Tourism Co., Ltd. was established in April 1998 and listed on the Shenzhen Stock Exchange in 2000. At present, it has 26 subordinate enterprises, including national 5A level scenic spot “two rivers and four lakes scenic spot”, national 4A level scenic spot “silver rock” and “fengyuyan”, etc. In addition, the company also has the largest five-star Hotel Lijiang Waterfall Hotel, Guilin’s largest tourist car company, taxi company and the largest cruise company on Lijiang River. According to wind data, the total revenue of Guilin Tourism in 2019 is RMB 606 million, of which 43.45% is from scenic spots, with 2507 employees and Li Feiying as the legal representative. As of midday trading on October 29, 2020, Guilin Tourism offered 4.78 yuan per share, up 0.42%, and its total market value was 1.72 billion yuan. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.