Yunnan Tourism Co Ltd

Yunnan Tourism released its 2026 interim report, with net profit attributable to the parent company at minus 139 million yuan, a loss expansion of 42.4387 million yuan compared with the same period last year. The company's total operating revenue was 54.9407 million yuan, down 52.93 percent year-on-year. Net cash flow from operating activities was minus 19.3648 million yuan, an increase of 12.828 million yuan over the same period last year, marking three consecutive years of growth. The company's latest asset-liability ratio was 66.63 percent, gross margin was minus 142.81 percent, return on equity was minus 14.64 percent, and diluted earnings per share was minus 0.14 yuan.

Several tourism companies have disclosed their half-year results, showing overall profit growth but widening divergence. Lijiang Yulong Tourism reported first-half revenue of 419 million yuan and net profit attributable to shareholders of 133 million yuan, up 40.5 percent year on year. Yuyuan Tourist Mart reported first-half revenue of 17 billion yuan and net profit attributable to shareholders of 160 million yuan, up 157 percent year on year. Anhui Jiuhuashan Tourism Development posted net profit of 152 million yuan, up 7.27 percent year on year, mainly driven by cost control. Zhangjiajie Tourism Group turned losses into profits, with net profit attributable to shareholders of about 308 million yuan, up 1,026.8 percent year on year, but this relied mainly on non-recurring gains. Yunnan Tourism, China CYTS Tours Holding, and Sanxiang Impression reported expected losses or profit declines. Among them, China CYTS Tours Holding expects net profit attributable to shareholders of 22.5 million yuan, down 66.34 percent year on year. Yuyuan Tourist Mart Chairman Huang Zhen said the company's core business adjustment and transformation are showing results, while cultural expansion overseas is creating a new growth curve. In the second half of the year, the company will seize three major opportunity windows: trend-driven, structural, and innovative, while continuing to pursue global expansion.

Yunnan Tourism disclosed its earnings forecast, expecting a net loss attributable to the parent company of 100 million to 150 million yuan in the first half of 2026, compared with a loss of 96.9199 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 110 million to 165 million yuan, compared with a loss of 98.6775 million yuan a year earlier. The company said the widening loss was mainly due to the tourism, culture, and technology business project expansion falling short of expectations, and a significant decline in revenue caused by reversing project income based on arbitration results, while revenue from the traditional tourism business also decreased.