jinglebingo| *ST Xinlian is about to lift its delisting risk warning of "picking stars and taking off its hat"

On the evening of May 19jinglebingoXinhualian Cultural Tourism Development Co., Ltd. issued an announcement stating that since the company's stock trading opened on May 21, delisting risk warnings and other risk warnings will be revoked. The stock abbreviation will be changed from "*ST Xinlian (Rights Protection)" to "Xinhualian", the stock code is still "000620", and the daily price limit for stock trading will be changed from "5%" to "10%." According to the relevant provisions of the "Stock Listing Rules", the company's shares will be suspended for one day on May 20 and resumed from the market opening on May 21.

It is understood that *ST Xinlian successfully completed the judicial reorganization in 2023, ensuring the company's dominant position in the market, optimizing the asset business structure, and significantly reducing interest-bearing liabilities, with a drop of 89%. The five investors introduced have injected a total of 19 into the company.jinglebingo.28 billion yuan in capital, effectively improving the overall value of the company. At the end of 2023, the company's net assets attributable to shareholders of listed companies were 5.377 billion yuan, net profit attributable to shareholders of listed companies was 352 million yuan, and operating income was 3.875 billion yuan. The company's operating conditions have improved significantly and returned to a healthy development track.

The announcement shows that Zhongxing Caiguanghua Certified Public Accountants issued a standard unqualified "Audit Report" for *ST Xinlian's 2023 annual financial report. The company's application for withdrawing stock trading delisting risk warnings and other risk warnings has been reviewed and approved by the Shenzhen Stock Exchange. On the same day, the company also disclosed the reply announcement of the Shenzhen Stock Exchange to the "Inquiry Letter on the 2023 Annual Report of Xinhualian Cultural Tourism Development Co., Ltd.".

Data from the first quarter showed that the company's operating results performed well, with operating income increasing by 64.10% compared with the same period last year. Net profit attributable to shareholders of listed companies increased significantly year-on-year, and earnings per share increased by 100.69% year-on-year. Due to the significant decline in interest-bearing liabilities after restructuring, the company's financial expenses fell by 96.33% in the first quarter.

Since the beginning of this year, the company has focused on the development of its main business of cultural tourism and fully revitalized high-quality cultural tourism assets, with obvious results. During the Spring Festival holiday, the scenic spot received nearly 130,000 tourists, a year-on-year increase of 26%; tourism revenue increased by 25% year-on-year. During the May Day holiday, its Tongguanyao Scenic Area received more than 82,000 tourists, making it one of the top ten tourist attractions in Changsha. Its Hunan Overseas Travel Agency focuses on "tourism +" articles, and achieved a year-on-year increase in performance in the first quarter of 105%.