Yangtze River Business Daily reporter Liu Qianwen
The tourism industry has recovered strongly, and Sante Cableway (002159. SZ) profitability improved substantially.
On April 24, Sante Cableway released its 2023 annual report, in which the company achieved operating income of 719 million yuan, an increase of 180.67% over the same period of the previous year, and the net profit attributable to the parent company and the non-net profit deducted both achieved a turnaround, and the non-net profit deducted was 136 million yuan, reaching the highest level in the past ten years.
The company's asset-liability ratio was further reduced to 23.25%, and the financial expenses were 12.6661 million yuan, down 46.25% from the same period last year.
Net profit turned into a profit
After a three-year trough, the domestic tourism industry will achieve a high and steady recovery in 2023. With the continuous release of market vitality, the number of tourists in most of the projects of Sante Cableway has increased, and the performance has improved significantly.
According to the financial report, in 2023, Sante Cableway will achieve operating income of 719 million yuan, a year-on-year increase of 180.67%, net profit attributable to shareholders of listed companies of 128 million yuan, a year-on-year increase of 266.11%, and non-net profit of about 136 million yuan, a year-on-year increase of 182.49%, both of which will turn losses into profits.
According to a reporter from the Yangtze River Business Daily, in 2023, the net profit of Sante Cableway will hit the highest level in nearly a decade.
Sante Cableway said that by comprehensively improving the level of operation and management, adding secondary consumption, optimizing the source structure, and improving the conversion rate of tourists, it will promote the increase of customer unit price and drive performance growth.
With good performance, Sante Cableway will distribute a cash dividend of 2.2 yuan (tax included) to all shareholders for every 10 shares, with a total cash dividend of 39.006 million yuan (tax included).
It is worth mentioning that in 2023, the East Lake Ocean Park Company, a subsidiary of Sante Cableway, will turn losses into profits, with an annual visitor volume of more than one million. In 2023, Sante Cableway will achieve profitability of seven subsidiaries, with a total operating income of 694 million yuan, accounting for 96.53% of the company's total operating income, and a total net profit of 275 million yuan.
Gearing ratio reduced to 23.25%
Founded in 1989, Sante Cableway is one of the first batch of high-tech enterprises in Wuhan to pilot the joint-stock reform. The company is mainly engaged in the comprehensive development and operation of tourism resources nationwide. After more than 30 years of development, the company's projects are mainly distributed in 9 provinces (autonomous regions) including Shaanxi, Guizhou, Hainan, Hubei, Zhejiang, Guangdong and Inner Mongolia, and have gradually realized the national layout and brand chain operation.
In May 2023, Sante Cableway officially bid farewell to the "contemporary system", Hi-Tech Group became the controlling shareholder of Sante Cableway, and the Management Committee of Wuhan East Lake High-tech Development Zone became the actual controller of Sante Cableway. Since the state-owned assets holding, Sante Cableway has successively released the best semi-annual report, three quarterly reports and annual reports in history.
With the rapid recovery of the state-owned assets holding industry, Sante Cableway has continuously optimized the asset-liability structure, and effectively reduced the debt ratio and cost through refined management and strict control of financing scale and financing costs. At the end of the third quarter of 2023, the asset-liability ratio of Sante Cableway dropped to 26.32%, and the annual report disclosed that the company's debt ratio further decreased to 23.25%, the lowest value in the past decade. The company's annual financial expenses were 12.6661 million yuan, a decrease of 46.25% over the same period of last year, the financing cost decreased significantly, and the financial structure was more stable.
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