Lijiang Tourism net profit big drop not dividends

Because of a ropeway overhaul, Lijiang tourism net profit decline has become a well-established fact, the annual report shows that the company last year's net profits fell 73.64%, and lijiang tourism this year only to share not dividend program also let the company listed in the past 7 years of cash dividend records become history.　　Lijiang Tourism released in 2010 Annual report, 2010, the company achieved total operating income of 190 million yuan, an increase of 3.96%; The net profit of the listed company's shareholders is 10.0868 million yuan, the year-on-year decline of 73.64%; basic earnings per share 0.09 yuan, down 76.92%. For the reason of the sharp decline in net profit, Lijiang Tourism said that the company's main business income mainly from Yulongxue Shan scenic cableway transport Services, 2010 4-November, the company Yulongxue Shan Ropeway Technical Transformation outage, The number of visitors to the Yulongxue Shan Ropeway has decreased by 507,100 over the last 668,300, which is the most direct reason for the decline of net profit of Lijiang tourism.　　And with the Yulong Mountain Ropeway back to operation, the company's performance and cash flow will gradually return to normal. In addition, Lijiang tourism in the release of the 2010 annual report, but also announced the annual dividend program. Company to the end of 2010, the company's total share capital of 116 million shares as a base, to the Capital Provident Fund to all shareholders 10 shares to increase 3 shares. According to public information, this is Lijiang tourism since the listing in 2004, the first financial year without cash dividends. Analysts say the decline in net profits and tight cash flows are the main reasons why companies are abandoning cash dividends. Responsible Editor: NF058