May 4, 2017，Qinghai Shangbalinka Cultural Tourism Resources Development Co., Ltd. (hereinafter referred to as securities abbreviation: Shangbalinka，Stock code: 871235) is officially listed on the National Equities Exchange and Quotations for public transfer through agreement transfer。

188bet app download

According to Shambalingka’s disclosure in the “Public Transfer Statement” on March 17, 2017: Shambalingka’s main business mainly includes scenic hotel business(Shambhalinka Hotel four-star hotel)、Qinghai Tibetan Culture Center ticket business (national AAAA tourist attraction)、Scenic area shop leasing business、Businesses such as sales of tourist souvenirs in scenic spots and quality development training，Providing comprehensive tourism services to tourists。

According to Shambalingka’s public information disclosure: 188bet app download Shambalingka from January to August 2016、2015、Achieved operating income of 1552 in 2014.740,000 yuan、1621.670,000 yuan and 1347.700,000 yuan，Achieved net profit of 419 respectively.430,000 yuan、3727.600,000 yuan and-622.260,000 yuan。

Shambalingka’s main business is: scenic hotel business、Tibetan Culture Center ticket business、Scenic area shops and other asset leasing、Travel souvenir sales, etc.。January-August 2016、2015、The main business income of Shambhalinka in 2014 was 1512.210,000 yuan、1621.670,000 yuan、1347.700,000 yuan。

Shambalingka’s main business income by product and service type during the reporting period、Main business gross profit is as follows:

From the perspective of sales revenue composition，2014、2015 and 2016 January-August，The company’s hotel business income is 1028 respectively.550,000 yuan、1220.810,000 yuan and 964.94 million yuan；The proportion of operating income is 76.32%、75.28%、63.81%，is the main source of income of Shambhalinka during the reporting period。

2014、The gross profit margin of the main business in 2015 and January-August 2016 was 35 respectively.38%、40.51% and 57.30%，2015，Shambalingka has added some shops for rent，Income from 188bet Online Sports Betting and Casino asset leasing business has increased，However, the cost of leasing related assets is mainly the depreciation of investment real estate, etc.，No significant growth，Therefore，The gross profit margin of Shambhalinka asset leasing business increased in 2015，Driving an increase in overall gross profit margin in 2015。

According to the information disclosed by Shambhalinka newspaper,Shambalingka has a large customer base，Its sales to a single customer are smaller。Shambaling card before 2015 (inclusive)，The main business contents of the top five customers areConference，Disclosed in the annual report from January to August 2016，The main business content of the top five customers has changed toRed wine、Travel souvenirs；Development and training；Accommodation and catering；Publishing income，The customer base has also undergone major changes。January-August 2016、2015、2014，Shambalingka’s sales to the top five customers each accounted for 26% of the total sales for the current period.47%、6.44%、8.33%，There is no over-reliance on a single customer。

2. Equity structure: natural person holding

According to Shambhalinka’s disclosure in the “Public Transfer Statement” on March 17, 2017，Shambalingka is owned by natural persons，Shambalingka shareholder Ms. Yang Zhongli (chairman) directly holds 53.8 million shares，Indirectly holds 9.9 million shares through Shambhalinka Center，Holding a total of 63.7 million shares，The shareholding ratio is 70.78%。According to this, Ms. Yang Zhongli is identified as the actual controller and controlling shareholder of Shambalingka。

3.The risk of excessive assets and liabilities and uninvoiced early purchases coexists

Also，According to the annual report: 188bet app Shambalingka has the risk of having an excessively high asset-liability ratio。End of 2014、End of 2015、At the end of August 2016, the asset-liability ratio of the parent company was 98.08%、81.65%、84.25%，Currently，Due to the large initial development investment in the construction of the scenic spot，The relevant funds required during the construction process mainly rely on shareholder borrowings and bank loans，Resulting in a high asset-liability ratio of Shambalingka，Facing certain financial risks。

Also，Shambaling Card also has the risk of not obtaining purchase invoices and requiring tax adjustments。Shambalingka Hotel, a subsidiary of Shambalingka, is in the catering business，The ingredients used in the early stage were purchased directly from the local market，Some suppliers are self-employed，It is difficult to obtain formal supporting evidence such as invoices，The tax authorities may not allow pre-tax deductions on the grounds that corporate documents are non-compliant, causing tax risks。At the same time，Shampa Linka disclosed that it will standardize the procurement process starting from 2016，Relevant raw materials are beginning to be supplied by relevant large suppliers，And request the issuance of relevant invoices。

 * The author of this article is Liang Guoqing，Charging Analyst (WeChat: liangzi2015)。Welcome to communicate！

[Extra number]Want to capture the trend of the cultural tourism consumption 188bet sports betting app download industry？Want to know the most cutting-edge cross-border innovation in cultural tourism？Want to learn the latest information shared by industry leaders？Want to interact and have in-depth exchanges with industry elites？come“2017 China Cultural Tourism Consumption Innovation Summit”Let’s go!June 13-14, Beijing·International Conference Center，A feast of top content for cultural tourism consumption is waiting for you！Learn more about the meeting&Please click to register:I want to register！(Discount for early registration)