Securities code: 600054 (A shares) stock abbreviation: Huangshan Tourism Development Co.Ltd(600054) (A shares) No.: 2022-005 900942 (B shares) Huangshan B shares (B shares)
Huangshan Tourism Development Co.Ltd(600054)
With regard to the announcement of Pinghu Holiday Hotel reconstruction project invested by the holding subsidiary, the board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and integrity of its contents. Important content tips:
● name of investment object: Pinghu Holiday Hotel reconstruction project
● investment amount: about 35 million yuan
● risk warning: during the project construction period, it may be affected by many factors such as material procurement, construction management and construction progress, thus affecting the project construction effect. At the same time, affected by covid-19 epidemic, economic environment, macro policies, industry development, operation and management and other factors, the project may have the risk of not reaching the expected income. 1、 Project investment overview
1. According to the resolution of the 28th meeting of the 7th board of directors of the company on August 5, 2020, The company and the related party Huangshan Saifu tourism and Cultural Industry Development Fund (limited partnership) (hereinafter referred to as “Huangshan Saifu fund”) jointly increased the capital of Huangshan Taiping Lake Cultural Tourism Co., Ltd. (hereinafter referred to as “Taiping Lake Cultural Tourism Company”) in the same proportion with Huangshan Huangshan state owned Assets Operation Co., Ltd. (hereinafter referred to as “Huangshan state owned assets company”), Among them, Huangshan District State owned assets management company invested 39.8 million yuan at the price of Pinghu Holiday Hotel and other assets (see the company’s Announcement No. 2020-032 for details).
2. In order to improve the level of reception facilities in Taiping Lake Scenic Area and enrich the business format of tourism products, the company held the 7th Meeting of the 8th board of directors on January 18, 2022, deliberated and adopted the proposal on the investment and construction of Pinghu Holiday Hotel reconstruction project by the holding subsidiary, and agreed to the investment and construction of Pinghu Holiday Hotel reconstruction project by Taiping Lake Culture and tourism company, the holding subsidiary of the company, The estimated investment amount is 35 million yuan, and the capital source is self raised by Taipinghu culture and tourism company.
3. The investment of this project does not constitute related party transactions, nor does it constitute major asset restructuring as stipulated in the administrative measures for major asset restructuring of listed companies.
4. The board of directors of the company authorizes the management to handle all matters related to the investment of the project, including but not limited to handling all other matters related to the follow-up.
2、 Basic information of investors
1. Company name: Huangshan Taiping Lake Cultural Tourism Co., Ltd
2. Unified social credit Code: 91341003ma2ncw0554
3. Enterprise type: other limited liability companies
4. Date of establishment: February 17, 2017
5. Registered address: Taiping Lake Management Committee, Taipinghu Town, Huangshan District, Huangshan City
6. Legal representative: Hu Caibao
7. Registered capital: 197.8 million yuan
8. Business scope: Tourism reception, consulting services, scenic spot tickets, tourism project construction, scenic spot operation and management, scenic spot development, tourism product development and sales, pre packaged food, retail of daily necessities, water sports, organizing festivals and events, catering services, real estate and hotel development and operation, passenger and freight services, port operation. (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments)
9. Equity structure: the company holds 50.96% equity of Taiping Lake Culture and tourism company, 40.04% equity of Huangshan District State owned assets company and 9.00% equity of Huangshan Saifu fund.
10. Main financial indicators:
Audited by Rongcheng Certified Public Accountants (special general partnership), as of December 31, 2020, the total assets of Taiping Lake Culture and tourism company in the consolidated statements were 237157100 yuan and the net assets were 228525400 yuan; In 2020, the operating income will be 8.5614 million yuan and the net profit will be -13.1581 million yuan.
As of September 30, 2021, the total assets in the consolidated statements of Taiping Lake Cultural Tourism Company were 226595500 yuan, and the net assets were 218552200 yuan; From January to September 2021, the company realized an operating revenue of 8.8975 million yuan and a net profit of -5.5196 million yuan (Unaudited).
3、 Basic information of investment object
1. Basic information of the project
Pinghu holiday hotel is the asset of Taiping Lake Culture and tourism company, a holding subsidiary of the company. It is located in Gongxing tourism wharf, Taiping Lake, Huangshan District, Huangshan City. The hotel covers an area of 1571.06 square meters and a total construction area of 10266.83 square meters.
In order to improve the level of reception facilities in Taiping Lake scenic spot, increase the supply of tourism products, meet market demand, increase asset use efficiency and improve asset income level, based on full investigation and demonstration, Taiping Lake Culture and tourism company, the holding subsidiary of the company, plans to invest in the reconstruction project of Pinghu Holiday Hotel, with an estimated investment amount of 35 million yuan, The source of funds is self raised by Taipinghu cultural tourism company. Through transformation, it will be built into a super middle-end lakeside leisure resort hotel integrating vacation and leisure, entertainment and shopping, sports and health care.
2. Main contents of the project
The reconstruction project of Pinghu holiday hotel has re planned the functional layout and work flow line. The main construction contents include the decoration of guest rooms, catering, lobby and shared space, as well as the reconstruction of the overall building facade and the landscape engineering around the hotel. The construction period of the project is expected to be 8-10 months from the date of commencement of the project. After the reconstruction of the project is completed, Pinghu holiday hotel will have 172 guest rooms and supporting restaurants, boxes, conference rooms, book bars and other spaces. The specific construction content of the project shall be subject to the planning and design scheme approved by the relevant competent government departments.
Through calculation, the payback period of the project investment is 8.61 years. After the reconstruction and operation of the project, it is expected that the room rental rate can be increased from 48% to 65% within ten years, and the annual operating revenue is expected to be 29.6 million yuan.
4、 Impact of project investment on Listed Companies
The investment and construction of Pinghu Holiday Hotel reconstruction project is an important measure for the company to comply with the development trend of tourism industry and build a tourism destination of Taiping Lake. It aims to improve the level of comprehensive reception facilities in Taiping Lake scenic spot, increase the supply of tourism products, meet the market demand, increase the use efficiency of assets and improve the level of asset income, which is conducive to further enriching the business format of tourism products, Expand the brand and market value of Taiping Lake scenic spot, improve tourist satisfaction, and enhance the overall competitiveness and sustainable development ability of Taiping Lake scenic spot, which is in line with the company’s long-term planning and development strategy.
The capital source of this project investment is self raised by Taipinghu culture and tourism company, which will not affect the normal operation of the company’s production and operation activities, have a significant impact on the company’s financial and operating conditions, and will not damage the interests of the listed company and all shareholders.
5、 Risk analysis of project investment
1. During the construction period of the project, many factors such as material procurement, construction management and construction progress may affect the construction effect of the project.
In this regard, the company will strengthen the bidding, quality and progress control in the process of the project, and pay attention to the prediction and prevention of possible adverse conditions and changing factors, so as to ensure that the project is completed according to quality and quantity.
2. The company has conducted sufficient feasibility demonstration when planning the above projects, but affected by covid-19 epidemic situation, economic environment, macro policies, industry development, operation and management and other factors, the project may have the risk of not reaching the expected income. The company will actively pay attention to the changes of the external environment, closely track the market demand, improve the operation and management level, strengthen publicity and promotion, improve the service quality of tourists, and actively respond to and prevent possible risks.
3. The investment planning, environmental protection, project initiation and other matters of the project still need to be approved by relevant competent government departments, and there is some uncertainty in the final approval.
According to the follow-up progress of the project investment, the company will timely perform the obligation of information disclosure in accordance with relevant regulations. Please pay attention to investment risks.
6、 Documents for future reference
Resolution of the 7th Meeting of the 8th board of directors of the company.
It is hereby announced.
Huangshan Tourism Development Co.Ltd(600054) board of directors January 19, 2022
