The performance compensation of the Qinhuai scenery will not be able to receive the Qinhuai scenery.

A transition and acquisition of a transformation and acquisition of the company's lingering "psychological shadow" by Nanfang (SH600250, stock price of 5.18 yuan, and a market value of 1.609 billion yuan) has become a lingering "psychological shadow" of the company.

Nan Textiles disclosed on the evening of July 7 that the company has not received the performance compensation funds that the Nanjing Muzi Temple Cultural Tourism Group Co., Ltd. (hereinafter referred to as the Cultural Tourism Cultural Tourism) should be paid. Litigation procedures for Cultural Temple Cultural Tourism.

In 2019, Nanyang Co., Ltd., based on the purpose of "advancing the company's transformation to the tourism industry", acquired Nanjing Qinhuai Scenic Tourism Co., Ltd. (hereinafter referred to as Qinhuai Scenic) equity from Muzi Temple Cultural Tourism. However, the scenery of Qinhuai failed to complete the performance commitment. Focusing on performance compensation, there was a big difference between listed companies and Master Temple Cultural Tourism.

Nan Textiles will be in charge of the Cultural Tourism of Muzi Temple

According to the announcement of Nanfang Co., Ltd., on June 2nd, the company filed a lawsuit with the contract dispute between the Temple Cultural Tourism and the Qinhuai District People's Court (hereinafter referred to as the Qinhuai District Court) in Nanjing, requiring Master Temple to perform performance compensation for performance compensation. obligation. On July 7, the company received the Qinhuai District Court's "Notice of Acceptance Cases". The actual controller of Nanfang Co., Ltd. is a state -owned enterprise under the Nanjing State -owned Assets Supervision and Administration Commission, and the Muzi Temple Cultural Tourism is a state -owned enterprise under the Qinhuai District Government of Nanjing.

The dispute between Nanfang and Muzi Temple Cultural Tourism originated from Qinhuai's performance.

In the second half of 2019, Nanfang Co., Ltd. purchased 51%of the Qinhuai Scenery equity in the form of issuing shares to Muzi Temple Cultural Tourism. The 51%equity of Qinhuai Scenery shall be 272 million yuan, and the total number of shares issued by listed companies is 37.8169 million shares.

According to the agreement, Muzi Temple Cultural Tourism promises the actual net profit of Qinhuai scenery from 2019 to 2021, respectively not less than 48.6956 million yuan, 51.522 million yuan, and 59.218 million yuan; Essence

The performance of Qinhuai scenery in 2019 has achieved smooth standards; but due to factors such as the new crown epidemic, its 2020 performance has a big decline. In April 2021, Nanfang and Master Temple Cultural Tourism agreed that the commitment period made by Qinhuai scenery in 2020 and 2021's net profit was extended to 2021 and 2022. However, the net profit actually realized in the Qinhuai scenery in 2021 was 260.833 million yuan. In 2019 and 2021, the cumulative net profit was 84.6193 million yuan, with a completion rate of 84.44%. In view of this, the listed company requires Master Temple Cultural Tourism to remit its designated account by May 29 by May 29. The Capital Temple Culture Brigade said that the scenery of Qinhuai could not reach the commitment to the epidemic situation. The epidemic factor was force majeure. It belonged to the legal clause that the relevant parties could not implement the relevant contract obligations in the contract law, and they did not need to compensate for performance. The dispute between the two sides has occurred.

Nanfu shares fall into a period of downturn in performance

For Nanfang Co., Ltd., the acquisition of Qinhuai landscape is the iconic incident that the company has transformed into the cultural tourism business.

The main business of the Qinhuai scenery is to provide tourists with the water cruise tour tour service of the Qinhuai River waters; the company has the exclusive business right to operate the water routing tour project in the inner water channel of about 10 in the Qinhuai River.

For this acquisition, Nanfang has stated that the company, as the only listed company under Nanjing Tourism Group, has been positioned as a securitization platform and operation platform for operating tourism assets; at the same time The survival space is squeezed, the main business development is weak, and the growth of profit growth in the future is not optimistic. The company actively seek business transformation. "It is decided to use the acquisition as an opportunity to promote the company to the tourism industry. Business and assets. "

Unfortunately, under the influence of the epidemic and other factors, the overall performance of the tourism industry was not good. For Nanfang Co., Ltd., the epidemic has a great impact on its traditional trade business. In 2021, the company achieved 826 million yuan in operating revenue, a year -on -year decrease of 13.89%; net profit of returning home was 169 million yuan, which was from profit to losses year -on -year. In the first quarter of this year, the company's net profit loss loss of 37.0987 million yuan, a year -on -year decrease of 15.19%.

It is worth mentioning that Nanfang Co., Ltd. said in the 2021 annual report that it will continue to focus on the medium- and long -term development strategies of transformation to the cultural tourism industry, and based on the "tourism+commerce" dual main business.

According to the planning of listed companies, the company will continue to focus on the transformation of the cultural tourism industry to accelerate the transformation of cultural tourism. The first is to further sort out the internal tourism asset resources of tourism groups to improve the profitability and asset quality of listed companies, and study and demonstrate the integration path and feasibility; the second is to deeply cultivate characteristic businesses, use the leadership advantages of the Qinhuai scenery segment, strengthen brand management output , Expand the water tour business; the third is to strengthen cooperation with advanced enterprises in the industry, integrate resources, promote the integration and development of cultural tourism science and technology, build new formats, and develop new products; fourth, continue to find external high -quality cultural tourism industry investment and acquisition projects, strengthen project reserves, strengthen project reserves, and strengthen project reserves. Accelerate the extension of the layout of the cultural tourism industry chain.

Daily Economic News

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