Wudang Tourism (836374): Tourism service + education and culture two-wheel drive
Event: The company released its 2018 annual report, which reported integration to achieve total revenue1.
78 ppm, an increase of 10 in ten years.
09%, net profit attributable to mother was 3993.
750,000 yuan, down 13 each year.
95%, net profit after deduction is 3717.
230,000 yuan, an increase of 65 in ten years.
(Company Annual Report) The company relies on the Wudang Mountain Natural Scenic Area to form the Wudang Mountain Scenic Area’s fleet operation, hotel and retail business, and comprehensively develop martial arts schools, cultural health, study travel and other services to form a complete tourism business chain: the company relies on natural scenic areasThe unique resource advantage of the attractions provides tourists with integrated tourism services for sightseeing, leisure and entertainment.
According to the company’s annual report, the revenue from the operation of the scenic fleet in 2018 reached 1.
1.6 billion, accounting for 65.
12%, the proportion of the years before 2017 decreased significantly, and the proportion of retail business was 4.
01% while the hotel business (accounting for 12.
88%), education and teaching business (proportion).
87%), parking lot management business (proportion 2.
52%), cultural health business (proportion).
50%), research travel business (proportion 1.
Revenues from various businesses have grown steadily, and three expense ratios have continued to decline: Report a series of company revenues that have grown for ten years.
09%, of which the company’s operating fleet revenue increased by 1 every year.
23%, mainly due to the increase in the number of tourists over the same period.
30,000 people; hotel business income has increased by 11 every year.
83%, which is mainly due to the increase in reported team and conference revenue; the retail business revenue increased by 7.
06%, mainly to adjust the rental format, reduce idle shops; parking lot management business income increased by 13 each year.
19%, mainly due to the continuous increase in the number of self-driving cars, leading to a steady increase in parking lot income; education and teaching business income further increased 24.
49%, the main department of Wudangshan International Martial Arts Institute increased the number of students in 2018, according to the annual budget plan, the increase in distribution increased.
The company’s cost control ability budget, three expenses in 201820.
75% for five consecutive years.
(Company annual report) Tourism service + education and culture two-wheel drive, committed to creating a pioneer in Wudang cultural industry: the company and the Hubei Wudangshan Special Zone Management Committee led the “Contract Letter”, the company agreed to the Wudang Mountain scenic area of Qiongtai, Wuyaling, PurpleXiao, Prince Edward Po, Jianhe Bridge, Mo Needle have a total of 6 parking lots and operating lines with independent management rights.
At present, a tourism service chain focusing on the operation of scenic spots, hotel management, and cultural street shops is formed. In 2014, it invested in the construction and management of Wudang International Martial Arts Institute, a second-level unit of Wuhan Institute of Physical Education, and focused on recruiting undergraduates nationwide to form a unique tourism industry.Services + supporting education and cultural industries.
The Wudang Mountain International Martial Arts Institute increased its students in 2018, and its education and teaching revenue reached 1397.
430,000 yuan, an annual increase of 24.
The comprehensive gross profit margin increased significantly, and 杭州夜网论坛 the company’s net cash flow was stable: the company’s comprehensive gross profit margin increased significantly to 47 in 2018.
95%, an increase of 7 compared with the same period last year.
99%, mainly due to the government’s cessation of collection of fees for the use of scenic spots resources, leading to a decline in the cost of sightseeing bus business, leading to an increase in overall gross profit margin.
The company’s operating net cash flow in 2018 was 6,831.
290,000 yuan, the average operating net cash flow in the past three years was 70.8 million yuan, and cash flow remained stable.
Investment suggestion: The undistributed profit of the company to its mother is 8,747.920,000 yuan, the company plans to use the undistributed profits to all shareholders for every 10 shares of cash dividends1.
20 yuan (including tax), a total of 6 million yuan in dividends, 15% of dividends.
In the semi-annual dividend recovery of 19% in 2018, attention is recommended.
Risk reminder: policy risk, budget risk, security operation risk.