China CYTS Tours Holding Co Ltd

CYTS released its 2026 interim report. Total operating revenue was 5.385 billion yuan, up 10.68% year-on-year, marking a fourth consecutive year of growth. Net profit attributable to the parent company was 22.13 million yuan, down 66.90% year-on-year. Net cash inflow from operating activities was 150 million yuan, up 1,703.88% year-on-year. The asset-liability ratio was 50.39%, gross margin was 18.46%, return on equity was 0.35%, and diluted earnings per share was 0.03 yuan. Total asset turnover was 0.31 times, and inventory turnover was 2.03 times. The number of shareholders was 64,700, and the top ten shareholders held 27.43% of total share capital.

CYTS released its 2026 interim report. First-half operating revenue was 5.39 billion yuan, up 10.7% year-on-year, but net profit attributable to the parent was only 22.13 million yuan, down 66.9% year-on-year. The company said external negative factors such as weather, safety, and consumption continued to pile up, and all business segments were adversely affected to varying degrees. Wuzhen scenic area received 3.1754 million visitors, down 5.81% year-on-year, and Wuzhen Company's net profit was 132 million yuan, down 7.18% year-on-year. Gubei Water Town scenic area received 621,500 visitors, up 26.81% year-on-year, but recorded a net loss of 109.5 million yuan, a slight narrowing of losses year-on-year. The company also initiated the public listing and transfer of a 51% equity stake and related claims in Shanshui Hotel to accelerate the disposal of inefficient businesses. On August 20, the company announced that Chairman Ni Yangping had submitted a written resignation. As of the close on August 25, CYTS's share price had fallen 27.48% cumulatively this year.

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.

CYTS announced plans to publicly list and transfer its 51% equity stake in CYTS Shanshui Hotel Group and the corresponding creditor's rights through the Beijing Equity Exchange, with a reserve price of 121 million yuan. The transfer has been approved by the company's extraordinary general meeting, with the information disclosure period running from August 7 to September 4, 2026, and the final transaction price subject to the actual deal. In the first quarter of 2026, CYTS achieved revenue of 2.359 billion yuan, with a net loss attributable to the parent company of 36.9 million yuan.

CYTS has issued a performance forecast, estimating net profit attributable to owners of the parent for the first half of 2026 at 22.5 million yuan, a year-on-year decline of approximately 66.34%. During the reporting period, external negative factors such as weather, safety, and consumption converged, intensifying competition in the cultural tourism industry. The company's travel agency, building leasing, hotel, and scenic area businesses were all adversely affected, collectively impacting net profit by about negative 40.3 million yuan. At the same time, the company strengthened overall fund management, reducing interest expenses year-on-year, which had a positive impact on net profit of 17.9 million yuan.