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 Tracking 1240 U.S. listed China Stocks and Counting...
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 China Yida Holding Co (NASDAQ:CNYD)

Thursday, May 15, 2014
Comments & Business Outlook
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
 
   
For The Three Months Ended
 March 31,
 
   
2014
   
2013
 
Net revenue
               
  Advertisement
 
$
-
   
$
1,599,811
 
  Tourism
   
2,654,032
     
2,098,237
 
Total net revenue
   
2,654,032
     
3,698,048
 
                 
Cost of revenue
               
  Advertisement
   
-
     
919,144
 
  Tourism
   
2,688,245
     
1,469,626
 
Total cost of revenue
   
2,688,245
     
2,388,770
 
Gross profit (loss)
   
(34,213
)
   
1,309,278
 
                 
Operating expenses
               
  Selling expenses
   
2,908,961
     
2,391,508
 
  General and administrative expenses
   
2,179,591
     
1,604,721
 
Total operating expenses
   
5,088,552
     
3,996,229
 
Loss from operations
   
(5,122,765
)
   
(2,686,951
)
                 
Other income (expense)
               
  Other income (expense), net
   
216,523
     
(47,776
)
  Interest income
   
3,214
     
9,184
 
  Interest expense
   
(2,388,017
)
   
(23,597
)
Total other expenses
   
(2,168,280
)
   
(62,189
)
                 
Loss from continuing operations before income tax and non-controlling interest
   
(7,291,045
)
   
(2,749,140
)
                 
Less: Provision for income tax
   
-
     
130,926
 
                 
Net loss income from continuing operations
   
(7,291,045
)
   
(2,880,066
)
                 
Discontinued Operation
               
                 
Loss from discontinued operations, net of income taxes
   
-
     
(57,185
)
                 
Net Loss
   
(7,291,045
)
   
(2,937,251
)
                 
Net loss attributed to non-controlling interest:
               
     Net loss from discontinued operation
   
-
     
22,851
 
Net loss attributable to China Yida Holding Co.
 
$
(7,291,045
)
 
$
(2,914,400
)
                 
Net Loss
 
$
(7,291,045
)
 
$
(2,937,251
)
                 
Other comprehensive income
               
  Foreign currency translation (loss) gain
   
(1,098,639)
     
1,359,722
 
Comprehensive loss
   
(8,389,684
)
   
(1,577,529
)
Comprehensive income attributable to non-controlling interest
   
-
     
60,700
 
Comprehensive loss attributable to China Yida Holding Co.
 
$
(8,389,684
)
 
$
(1,516,829
)
                 
Amounts attributable to common stockholders:
               
  Net loss from continuing operations, net of income taxes
   
(7,291,045
)
   
(2,880,066
)
  Net loss from discontinued operations, net of income taxes
   
-
     
(34,334
)
  Net loss attributable to common stockholders
   
(7,291,045
)
   
(2,914,400
)
                 
Net loss attributable to common stockholders per share - basic and diluted:
         
- Basic & diluted loss per share from continuing operations
 
$
(1.86
)
 
$
(0.73
)
- Basic & diluted loss per share from discontinued operations
 
$
-
   
$
(0.01
)
- Basic & diluted loss per share attributable to common stockholders
 
$
(1.86
)
 
$
(0.74
)
                 
Weighted average shares outstanding
               
- Basic
   
3,914,580
     
3,914,580
 
- Diluted
   
3,914,580
     
3,914,580
 

Management Discussion and Analysis

Net Revenue

Net revenue decreased by approximately $1.04 million or approximately 28.23%, from approximately $3.70 million for the three months ended March 31, 2013 to approximately $2.65 million for the three months ended March 31, 2014. The decrease in net revenue was primarily due to the decrease in the revenue from advertisement revenue which was partially offset by an increase in tourism.


Net Loss
 
As a result of the above factors, we have net loss of approximately $7.29 million for the three months ended March 31, 2014 as compared to net loss of approximately $2.91 million for the three months ended March 31, 2013, representing an increase of approximately $4.38 million or approximately 150.17%. The increase was primarily attributable to the decrease in advertisement revenue because the agreement with FETV expired in July 2013, the increase in cost of revenue and general and administrative expenses for the operation of new tourism destination for the three months ended March 31, 2014 as compared with that for the three months ended March 31, 2013, and the increase in interest expense because the interest expense for the three months ended March 31, 2013 was capitalized as part of construction in progress.


Tuesday, April 1, 2014
Comments & Business Outlook
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31
 
   
2013
   
2012
 
Net revenue
           
  Advertisement
  $ 2,910,612     $ 16,993,999  
  Tourism
    14,930,274       10,611,890  
Total net revenue
    17,840,886       27,605,889  
                 
Cost of revenue
               
  Advertisement
    2,045,765       5,360,780  
  Tourism
    6,933,503       6,068,111  
Total cost of revenue
    8,979,268       11,428,891  
Gross profit
    8,861,618       16,176,998  
                 
Operating expenses
               
  Selling expenses
    11,217,087       6,691,946  
  General and administrative expenses
    8,535,974       4,296,548  
Total operating expenses
    19,753,061       10,998,494  
(Loss) Income from operations
    (10,891,443 )     5,188,504  
                 
Other income (expense)
               
  Other expense, net
    (227,307 )     (323,804 )
  Interest income
    90,717       30,754  
  Interest expense
    (5,936,638 )     (1,833,196 )
Total other expenses
    (6,073,228 )     (2,126,246 )
                 
(Loss) Income from continuing operations before income tax and non-controlling interest
    (16,964,671 )     3,062,258  
                 
Less: Provision for income tax
    133,323       2,847,274  
                 
Net (loss) income from continuing operations
    (17,097,994 )     214,984  
                 
Discontinued Operation
               
                 
Loss from discontinued operations, net of income taxes
    (255,536 )     (822,171 )
Gain on Disposal of Subsidiary
    999,133       -  
                 
Net income (loss) from discontinued operations, net of income taxes
    743,597       (822,171 )
                 
Net Loss
    (16,354,397 )     (607,187 )
                 
Net loss attributed to non-controlling interest:
               
     Net loss from discontinued operation
    102,215       327,683  
Net (loss) income attributable to China Yida Holding Co.
  $ (16,252,182 )   $ (279,504 )
                 
Net Loss
  $ (16,354,397 )   $ (607,187 )
                 
Other comprehensive income
               
  Foreign currency translation gain
    4,308,861       1,359,722  
Comprehensive (loss) income
    (12,045,536 )     752,535  
Comprehensive loss attributable to non-controlling interest
    390,730       275,219  
Comprehensive (loss) income attributable to China Yida Holding Co.
  $ (11,654,806 )   $ 1,027,754  
                 
Amounts attributable to common stockholders:
               
  Net income (loss) from continuing operations, net of income taxes
    (17,097,994 )     214,984  
  Net income (loss) from discontinued operations, net of income taxes
    845,812       (494,488 )
  Net Loss attributable to common stockholders
    (16,252,182 )     (279,504 )
                 
Net income (loss) attributable to common stockholders per share - basic and diluted:
         
- Basic & diluted earnings/(loss) per share from continuing operations
  $ (4.37 )   $ 0.06  
- Basic & diluted earnings/(loss) per share from discontinued operations
  $ 0.22     $ (0.13 )
- Basic & diluted earnings/(loss) per share attributable to common stockholders
  $ (4.15 )   $ (0.07 )
                 
Weighted average shares outstanding
               
- Basic
    3,914,580       3,913,000  
- Diluted
    3,914,580       3,913,000  

Management Discussion and Analysis

Net Revenue

Net revenue decreased by approximately $9.77 million or approximately 35.37%, from approximately $27.61 million for the year ended December 31, 2012 to approximately $17.84 million for the year ended December 31, 2013. The decrease in net revenue was primarily due to a decrease in advertisement revenue which was partially offset by an increase in tourism.

Net Loss
 
As a result of the above factors, we have net loss of approximately $16.25 million for the year ended December 31, 2013 as compared approximately $0.28 million for the year ended December 31, 2012, representing a decrease of approximately $15.97 million or approximately 5714.65%. The decrease was primarily attributable to the decrease in advertisement revenue from FETV and the increase in general and administrative expenses for the operation of new tourism destinations for the year ended December 31, 2013 as compared with the same period in 2012.


Wednesday, August 14, 2013
Comments & Business Outlook
CHINA YIDA HOLDING CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
   
Six Months Ended June 30,
   
Three Months Ended June 30,
 
   
2013
   
2012
   
2013
   
2012
 
Net revenue
                       
  Advertisement
  $ 2,581,410     $ 10,957,060     $ 981,599     $ 4,762,541  
  Tourism
    6,140,564       4,188,339       4,042,327       2,652,149  
                                 
Total net revenue
    8,721,974       15,145,399       5,023,926       7,414,690  
                                 
Cost of revenue
                               
  Advertisement
    1,766,983       2,990,408       847,839       1,431,408  
  Tourism
    3,152,029       2,759,334       1,682,403       1,491,741  
                                 
Total cost of revenue
    4,919,011       5,749,742       2,530,241       2,923,149  
                                 
Gross profit
    3,802,962       9,395,657       2,493,684       4,491,541  
                                 
Operating expenses
                               
  Selling expenses
    4,965,717       2,647,120       2,574,209       1,504,155  
  General and administrative expenses
    3,011,374       2,091,284       1,406,653       980,367  
                                 
Total operating expenses
    7,977,091       4,738,404       3,980,862       2,484,522  
                                 
(Loss) Income from operations
    (4,174,129 )     4,657,253       (1,487,178 )     2,007,019  
                                 
Other income (expense)
                               
  Other expense, net
    (85,910 )     (112,882 )     (38,134 )     (74,247 )
  Interest income
    75,688       16,350       66,504       10,284  
  Interest expense
    (2,558,423 )     (119,491 )     (2,534,826 )     (55,231 )
                                 
Total other expenses
    (2,568,645 )     (216,023 )     (2,506,456 )     (119,194 )
                                 
(Loss) Income from continuing operations before income tax and non-controlling interest
    (6,742,774 )     4,441,230       (3,993,634 )     1,887,825  
                                 
Less: Provision for income tax
    131,869       2,006,321       943       720,133  
                                 
Net (loss) income from continuing operations
    (6,874,643 )     2,434,909       (3,994,577 )     1,167,692  
                                 
Discontinued Operation
                               
  Loss from discontinued operations, net of income taxes
    (255,536 )     (330,078 )     (198,351 )     (161,821 )
  Gain on Disposal of Subsidiary
    999,133       -       999,133       -  
                                 
Net income (loss) from discontinued operations, net of income taxes
    743,597       (330,078 )     800,782       (161,821 )
                                 
Net (loss) Income
    (6,131,046 )     2,104,831       (3,193,795 )     1,005,871  
                                 
Net loss attributed to non-controlling interest:
                               
     Net loss from discontinued operation
    102,215       131,214       79,364       63,911  
                                 
Net (loss) income attributable to China Yida Holding Co.
  $ (6,028,831 )   $ 2,236,045     $ (3,114,431 )   $ 1,069,782  
                                 
Net (loss) income
  $ (6,131,046 )   $ 2,104,831     $ (3,193,795 )   $ 1,005,871  
                                 
Other comprehensive income
                               
  Foreign currency translation gain
    2,891,810       1,234,044       1,532,088       83,727  
                                 
Comprehensive (loss) income
    (3,239,236 )     3,338,875       (1,661,707 )     1,089,598  
                                 
Comprehensive loss attributable to non-controlling interest
    390,730       83,409       330,030       60,743  
                                 
Comprehensive (loss) income attributable to China Yida Holding Co.
  $ (2,848,506 )   $ 3,422,284     $ (1,331,677 )   $ 1,150,341  
                                 
Amounts attributable to common stockholders:
                               
  Net loss (income) from continuing operations, net of income taxes
    (6,874,643 )     2,434,909       (3,994,577 )     1,167,692  
  Net loss (income) from discontinued operations, net of income taxes
    845,812       (198,864 )     880,146       (97,910 )
       Net loss (income) attributable to common stockholders
    (6,028,831 )     2,236,045       (3,114,431 )     1,069,782  
                                 
Net loss (income) attributable to common stockholders per share - basic and diluted:
                               
- Basic & diluted earnings/(loss) per share from continuing operations
  $ (1.76 )   $ 0.62     $ (1.02 )   $ 0.30  
- Basic & diluted earnings/(loss) per share from discontinued operations
  $ 0.22     $ (0.05 )   $ 0.22     $ (0.03 )
- Basic & diluted earnings/(loss) per share attributable to common stockholders
  $ (1.54 )   $ 0.57     $ (0.80 )   $ 0.27  
                                 
Weighted average shares outstanding
                               
- Basic
    3,914,580       3,911,188       3,914,580       3,911,188  
- Diluted
    3,914,580       3,911,188       3,914,580       3,911,188  

Monday, March 25, 2013
Comments & Business Outlook

Fourth Quarter 2012 Results

  • Total consolidated net revenue for the Company's two business segments, Tourism and Media, was $6.1 millionin the fourth quarter of 2012, a decrease of 25.5% as compared to $8.2 million in the year-ago quarter. A review of each business segment follows.
  • Gross profit for China Yida's consolidated operations was $3.3 million in the fourth quarter of 2012, representing a gross profit margin of 54.0%, compared to gross profit of $5.3 million and a gross margin of 63.8% for the comparable period of 2011.
  • The net loss attributable to China Yida Holding Company for the fourth quarter of 2012 was $1.5 million, or $0.39 per diluted share, as compared to net income attributable to China Yida Holding Company of $1.5 million, or $0.38 per diluted share, for the fourth quarter of 2011.

"As previously stated, China Yida's mission is to be a preeminent tourist company with all of its operations to consist of existing and new tourist destinations, and so I am pleased to report that the Company's tourist segment showed a solid revenue gain of 14.8% in fiscal 2012 compared to fiscal 2011," stated Dr. Minhua Chen, Chairman and Chief Executive Officer of China Yida. "We are also pleased to report a robust 68.5% rise in tourism revenue for the fourth quarter of 2012 versus the year-ago quarter driven by increased visitor traffic to our two prime tourist destinations. However, we expect continued pressure from the high levels of debt that we have had to assume to fulfill our commitment to local governments to develop our new tourist projects outside Fujian Province. Therefore, we expect further losses in the quarters ahead and a loss for the full year 2013."

"We are especially pleased to see that visitor traffic to the Great Golden Lake has normalized this year and that a record number of tourists visited Yunding Recreational Park in the fourth quarter. We believe that both of these tourist destinations will generate even greater tourist traffic once ongoing road access issues are resolved," CEO Minhua Chen continued. "Given that the fundamentals in China's tourism market remains strong, we continue to be committed to our participation in this market and we will work hard to prevail despite our current funding challenges."

Business Update and 2013 Outlook

The Company experienced vastly improved attendance at its Great Golden Lake and Yunding Recreation Park tourist destinations in the fourth quarter of 2012 attributable to the promotion efforts of the Company's tourist agency as well as enhanced tourist attractions at the Yunding site. For the year, tourist traffic increased 9.4% at the Great Golden Lake to 339,000 visitors and tourist traffic increased 38.7% to 165,000 visitors at Yunding Recreational Park. The Company believes that there is room for improved tourist traffic to both tourist destinations when road construction that will enable easier travel to both sites is completed.


Monday, November 19, 2012
Share Structure

FUZHOU, China, November 19, 2012 /PRNewswire/ -- China Yida Holding Company (Nasdaq: CNYD) ("China Yida" or the "Company"), a diversified tourism and entertainment enterprise in China, today announced that its Board of Directors has approved a one (1) -for- five (5) reverse stock split of the Company's issued and outstanding common stock, par value $0.001 per share. Written consent was received as according to Delaware law for this action from holders of a majority of the Company's common stock.

The reverse stock split will be effective at the market opening on November 19, 2012, at which time the Company's common stock will begin trading on the NASDAQ Stock Market on a split-adjusted basis. The Company's common stock will continue to trade under the symbol "CNYD" (although NASDAQ will add the letter "D" to the end of the trading symbol for a period of 20 trading days to indicate that the reverse split has occurred) but under a new CUSIP number, 16945D303.

The Company is implementing the reverse stock split to regain compliance with NASDAQ continued listing standards. Following the reverse stock split, the Company will have approximately 3.9 million shares of common stock issued and outstanding. The number of the Company's authorized shares of common stock will remain unaffected at 100 million shares.


Tuesday, November 13, 2012
Comments & Business Outlook

Third Quarter 2012 Results

  • Total net revenue was $6.3 million, a decrease of 43.6% compared to $11.2 million in the year-ago period
  • Gross profit was $3.5 million, a decrease of 54.8% compared to $7.7 million in the year-ago period
  • Operating income was $0.3 million compared to $4.9 million in the third quarter of 2011.
  • Net loss attributable to China Yida Holding Company was $1.0 million, compared to net income attributable to China Yida Holding Company of $3.2 million in the year-ago period
  • Fully diluted loss was $0.05 per share compared to earnings $0.16 per share in the year-ago period

"We saw a solid level of tourist traffic to two of our key tourist destinations in the third quarter which drove a modest rise in revenue in our tourism segment. However, the quarter marked the expected contraction of our media business, which experienced the full effects of regulations that seriously hamper the means and mode of advertising. As a result, we reported a loss in the quarter and anticipate an eventual further move away from this business segment. Most important, we are committed to our vision of creating a pre�minent tourist company and therefore continue to focus our efforts on developing an array of attractive tourist destinations," commented Dr. Minhua Chen, Chairman and Chief Executive Officer of China Yida.

"We are especially pleased to see that visitor traffic to Great Golden Lake has stabilized with the site's full recovery and that visitor traffic to Yunding Park has begun to grow. Further, we believe that both tourist destinations have substantially greater visitor potential once ongoing road access issues are resolved," CEO Chen continued. "The development of our three new properties is largely on schedule and we expect to commence operation of these new tourist destinations during the first half of 2013. Given that the fundamentals in China's tourism market remain strong, we are confident that our tourism segment can achieve continued growth and that our strategy of developing distinctive and varied tourist destinations will succeed in the long run."


Monday, August 13, 2012
Comments & Business Outlook

Second Quarter 2012 Results

  • Total net revenue was $7.4 million, a decrease of 32.5% compared to $11.0 million in the year-ago period
  • Net revenue from the tourism business was $2.7 million, an increase of 6.1% year over year, with a gross margin of 35.8%
  • Net revenue from the media business was $4.8 million, a decrease of 43.9% year over year, with a gross margin of 64.2%
  • Gross profit was $4.5 million, a decrease of 40.2% compared to $7.5 million in the year-ago period
  • Operating income was $1.8 million, a decline of 64.3% compared to $5.2 million in 2011
  • Net income attributable to China Yida Holding Company was $1.1 million, a decrease of 69.3% compared to $3.5 million in the year-ago period
  • Fully diluted EPS was $0.05 per share compared to $0.18 in the year-ago period

"We are pleased to announce that we achieved a solid increase in tourist traffic to two of our key tourist destinations in the quarter as well as a modest rise in revenue from our tourism segment. We believe that this is a result of the successful execution of a number of initiatives, including our strategy to create scale economies in marketing that extends to all of our properties with the goal to boost tourist traffic to all of our sites," commented Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida. "We are encouraged to see that visitor traffic to Great Golden Lake has recovered and that visitor traffic to Yunding Park has begun to flourish, although both sites are hampered by ongoing road access issues. Given that the fundamentals in China's dynamic tourism market remain strong, we expect further contribution from our tourism segment growth to the Company's top and bottom line as the summer tourism season draws to a close."

"We reiterate that our focused growth strategy is the development of unique and attractive tourist destinations to meet the strong fundamentals for tourism in China and we plan upon strategically shifting more fully towards this segment of our business over time," Dr. Chen continued. "The development of three additional properties is on schedule and we expect to commence operation of these new tourist destinations in early 2013."


Saturday, July 7, 2012
Investor Alert
FUZHOU, China, July 7, 2012 /PRNewswire-Asia-FirstCall/ -- China Yida Holding Company (Nasdaq: CNYD) ("China Yida"or the "Company"), a diversified tourism and entertainment enterprise in China, today announced that the Company has received a letter from The NASDAQ Stock Market LLC ("Nasdaq") informing the Company that its common stock has not met the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The Company did not meet Nasdaq's minimum bid price requirement because the closing bid price for its common stock for each trading day in the 30-business day period from May 17, 2012 to June 28, 2012 was less than $1.00 per share. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), China Yida has a grace period of 180 calendar days, or until December 31, 2012, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for at least ten consecutive business days during this 180-day grace period. If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to the expiration date of the grace period in order to regain compliance. If the Company does not regain compliance within this period, it may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company fails to regain compliance within the grace period permitted by Nasdaq, the Company's common stock will be subject to delisting by Nasdaq. The Company will consider available options to resolve the noncompliance with the minimum bid price requirement. The notification letter has no immediate effect on the listing of the Company's common stock on The Nasdaq Capital Market. China Yida's common stock will continue to trade on The Nasdaq Capital Market under the symbol "CNYD."

Friday, May 11, 2012
Comments & Business Outlook

First Quarter 2012 Results

  • Total net revenue was $7.7 million, a decrease of 34.4% compared to $11.8 million in the
    year-ago period
  • Net revenue from the tourism business was $1.5 million, a decrease of 19.8% year over year, with a gross margin of 17.5%
  • Net revenue from the media business was $6.2 million, a decrease of 37.2% year over year, with a gross margin of 74.8%
  • Gross profit was $4.9 million, a decrease of 40.6% compared to $8.3 million in the year-ago period
  • Operating income was $2.5 million, a decline of 59.5% compared to $6.1 million in 2011.
  • Net income attributable to China Yida Holding Company was $1.2 million, a decrease of 70.5% compared to$4.0 million in the year-ago period
  • Fully diluted EPS was $0.06 per share, compared to $0.20 in the year-ago period.

"In the first quarter of 2012, we continue to face challenges in our tourism and media businesses. However, we are confident that our business model is sound and we remain committed to the dynamic tourism market in China," commented Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida. "Although road access issues continue to hinder visitor traffic to Great Golden Lake, we have forged ahead and plan to develop guest cottages that will accommodate overnight guests at Yunding Park, which has also benefited from enhanced marketing resulting in much improved tourist traffic. We have also developed a new pricing strategy at the Hua'An Tulou cluster to counter competitive pressures. We expect an increase in tourist traffic to all of our destinations as we enter the warm weather tourist season."

"Our media segment continued to feel the impact of restrictions imposed by domestic media authorities," Dr. Chen continued. "Despite the continued volatility of our media segment, our focused growth strategy remains the development of unique and attractive tourist destinations to meet the growing domestic demand for tourism in China. With the addition of three new properties in development, we foresee a strategic mix of six operating properties with the potential to generate a diversified income stream that will enhance shareholder value in the long run," concluded Dr. Chen.

Management believes that it can finance all of its ongoing capital expenditures from cash on hand, cash from operations and bank loans secured against its land bank. Entering 2012, new construction and development was adversely affected by more-than-normal rainy days. However, Management will undertake its best efforts to complete Phase I construction of these new projects and commence operation of the new tourist destinations by the end of 2012.


Wednesday, April 18, 2012
Auditor trail
FUZHOU, China, April 18, 2012 /PRNewswire-Asia-FirstCall/ -- China Yida Holding Company (Nasdaq: CNYD) ("China Yida" or the "Company"), a leading tourism and media enterprise in China, today announced that the Company has appointed KCCW Accountancy Corp. ("KCCW") to serve as its independent registered public accounting firm, replacing Friedman LLP ("Friedman"). KCCW will begin providing services for the first fiscal quarter of 2012. The decision to change auditors was not the result of any disagreement between the Company and Friedman LLP on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.

Thursday, March 29, 2012
Comments & Business Outlook

Fourth Quarter 2011 Results

  • Total consolidated net revenue for the Company's two business segments, Tourism and Media, decreased 33.2% to $8.2 million in the fourth quarter of 2011 as compared to $12.3 million in the fourth quarter of 2010.
  • Net income attributable to China Yida Holding Company for the fourth quarter of 2011 was $1.5 million, or $0.08 per diluted share, as compared with $5.3 million, or $0.26 per diluted share, for the fourth quarter of 2010.

"Although we were still profitable in a difficult year, our fiscal year 2011 results fell below our expectations reflecting certain challenges associated with our business segments that we are working hard to address. The recovery of tourist traffic to our Great Golden Lake destination has been slower than expected as has traffic to Yunding Recreational Park, as access to both sites is currently limited while modern roads are being built by the local governments. Also, while results from our media segment also fell somewhat due to restrictions imposed by domestic media authorities, our focus, first and foremost, is our tourism business which we are working very hard to grow and develop," Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida stated.

"We are currently taking steps to maximize the dollars earned from tourists who are visiting our existing destinations. We are building a new resort at Yunding Park that we hope will contribute to revenue by year-end 2012 and set the stage for a recovery in 2013. We anticipate that our operating cash flow and our reserve of land provides sufficient liquidity to maintain our development goals in the years ahead. With the Company operating a strategic mix of properties that yield a diversified revenue stream, and with three exciting projects currently in development, we anticipate a rising and sustainable level of revenue flow in the long run," Dr. Chen added.

Business Update and 2012 Outlook

In conjunction with strict regulations on certain types of TV advertising, Management expects that FETV's advertising revenue may decline further in 2012. Beginning in January 1, 2012, the State Administration of Radio Film and Television (SARFT) disallowed any commercial advertisements that are inserted in the midst of certain TV programming with the result that ad time is now minimized and only able to be inserted at a program's end. In addition, it has become challenging to find buyers for advertising on the Company's "Journey through China on the Train" railway program due to the absence of an automatic broadcasting and monitoring system.

As of December 31, 2011, China Yida has made significant progress in the development of its new tourism destinations in Anhui and Jiangxi Provinces, with over 200 million RMB invested in acquisition of land use rights and over 60 million RMB in construction of tourism facilities. Management reaffirms its belief that despite recent setbacks, the Company can finance all of its ongoing capital expenditures from cash on hand, cash from operations and bank loans secured against its land bank. Entering 2012, new construction and development was adversely affected by more-than-normal rainy days. However, Management will undertake its best efforts to generate revenues from the new properties by the end of 2012.


Monday, March 19, 2012
Investor Alert

FUZHOU, China, March 19, 2012 /PRNewswire-Asia-FirstCall/ -- China Yida Holding Company (Nasdaq: CNYD) ("China Yida" or the "Company"), a leading tourism and media enterprise in China, today warned investors as to inquiries from certain entities.

Recently, the Company heard from a few shareholders that they had received emails from some so-called merger management companies who claimed that they are acting in connection with a take-over deal. Shareholders were told these shareholders held common stock positions being registered as InteliSys Aviation Systems, a former entity of China Yida. Some investors were even offered very attractive prices and were told that there were warrants attached to these shares that had value. Please be advised that there are no warrants attached to the shares. Shareholders were also being requested to pay a documentation fee in advance in order to facilitate a transaction.

China Yida's management is concerned that these are scams from fraudulent entities. Although InteliSys Aviation Systems has the origin of being the Company's public shell company, there are no warrants attached to these InteliSys Aviation Systems shares. Management encourages investors to validate their CNYD stock positions first, by sending emails to ir@yidacn.net, and upon receiving these suspicious mails, to be extremely cautious about signing over shares or disbursing with any funds.


Tuesday, January 3, 2012
CFO Trail
FUZHOU, China, Jan. 2, 2012 /PRNewswire-FirstCall/ -- China Yida Holding Company (Nasdaq: CNYD) ("China Yida" or the "Company"), a leading tourism and media enterprise in China, today announced that Mr. Yongxi Lin was appointed to be the Company's interim Chief Financial Officer. Mr. Lin has been working with China Yida as its Financial Controller since 2003. Before joining China Yida, he was Chief Financial Director with Fujian Furi Group. He received his Bachelor's degree in Accounting in 1994 and is a member of the Chinese Institute of Certified Public Accountants (CICPA). About China Yida China Yida is a leading tourism and media enterprise focused on China's fast-growing leisure industry and headquartered in Fuzhou City, Fujian province of China. The Company provides tourism management services and specializes in the development, management and operation of natural, cultural and historic scenic sites. China Yida currently operates the Great Golden Lake tourist destination (Global Geopark, including Golden Lake, Shangqing River, Zhuangyuan Rock, Luohan Mountain and Taining Old Town), Hua'An Tulou tourist destination (World Culture Heritage, including Dadi Tulou cluster and the Shangping Tulou cluster) and China Yunding Park (National Park, including Flower Terrace, Heavenly Lake, Colorful Waterfall, Red River Valley and Jade Valley). China Yida is also developing three additional tourism projects including Ming Dynasty Entertainment World, China Yang-sheng (Nourishing Life) Tourism Project and the City of Caves. The Company's operating scenic sites total in aggregate over 300 square kilometers in area. The Company's media business provides operations management services including content and advertisement management for the Fujian Education Television Station ("FETV"), a top-rated provincial education television channel, and "Journey through China on the Train", an advertisement-embedded travel program, currently the only on-board media program from a third party authorized by China's Ministry of Railways.

Monday, November 7, 2011
Comments & Business Outlook

Third Quarter 2011 Results

  • Total net revenue was $11.2 million, an increase of 1.6% as compared to $11.0 million in the third quarter of 2010
  • Net revenue from the tourism business was $2.9 million, an increase of 121.9% year over year with a gross margin of 51.8%
  • Net revenue from the media business was $8.3 million, a decrease of 14.4% year over year with a gross margin of 74.3%
  • Gross profit was $7.7 million, a decrease of 7.0% compared to $8.3 million in the same period last year
  • Net income attributable to China Yida Holding Company was $3.2 million, a decrease of 31.3% as compared to $4.7 million posted in the same period last year
  • Fully diluted EPS was $0.16 per share, compared to $0.23 in the third quarter of 2010

"We are pleased to see a significant improvement in tourist traffic to our premier Great Golden Lake destination in the quarter, and remain confident about its continued full recovery. We are also reporting ongoing progress at Yunding Recreational Park, which we believe will develop into a highly popular destination with a wide array of attractions for people of all ages," said Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida.

"We remain confident about the future of our Company. With the Company operating and developing a strategic mix of properties that yield diversified revenue streams, we anticipate stable and sustainable sources of income. We remain committed to meeting the needs of the dynamic tourism market in China and believe that our unique tourist destinations will generate a high level of tourist satisfaction as well as sound returns on investment," concluded Dr. Chen.

"We are buoyed by the positive developments at the Great Golden Lake and Yunding as well as ongoing progress with our new projects," said Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida. "Our wholly-owned subsidiary, Fujian Yida Travel Service Co., Ltd., will integrate the marketing of all our tourist destinations and they have now opened 16 branches in seven provinces - which we plan to increase to 24 in 2012. Finally, our advertising and broadcast business currently presents certain challenges and we look forward to developing solutions to stabilize this segment," concluded Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida.

2011-2012 Outlook

In 2011, we have been constructing and developing Yunding Park’s second phase of construction and three new tourism projects, the Ming Dynasty Entertainment World in Bengbu City, Anhui province, the China Yang-sheng (Nourishing Life) Paradise in Zhangshu City, Jiangxi province, and the City of Caves in Fenyi City, Jiangxi province, which represent our commitment to expanding our business operations by applying our current business model to the development of other valuable tourist destinations out of Fujian province, and throughout China. The construction was in line with our schedule. We expect that we will complete the first phase construction of these three new projects and open them to the public by the end of 2012. In addition, in June 2011, we announced the establishment of our new subsidiary, Fujian Yida Travel Service Co., Ltd. Over the next three years, we will mainly focus on developing our existing six tourist destinations. All required construction funds will be funded either from our net income and operating cash flow or will be financed through bank loans.


Tuesday, August 9, 2011
Comments & Business Outlook

Second Quarter 2011 Highlights

     

  • Total net revenue was $11.0 million, a decrease of 32.9% as compared to $16.4 million in the second quarter of 2010
  • Net revenue from the tourism business was $2.5 million, a decrease of 64.5% year over year with gross margin of 51.9%
  • Net revenue from the media business was $8.5 million, a decrease of 9.0% year over year with a gross margin of 73.2%
  • Gross profit was $7.5 million a decrease of 43.4% to compared to $13.3 million in the same period last year
  • Net income attributable to China Yida Holding Company was $3.5 million, a decrease of 57.1% as compared to $8.1 million posted in the same period last year
  • Fully diluted EPS was $0.18 per share compared to $0.41 in the second quarter of 2010

"As anticipated, the performance of our tourism segment for the second quarter was below year-ago levels. However, though the continued effects of last year's floods continued to impact tourist traffic at our premier Great Golden Lake destination, we are encouraged by the healthy increase in visitors to the site from the first quarter," said Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida.

"We remain optimistic about the future of our Company. With three highly appealing tourist destinations in operation, three new projects under development, a newly-formalized tourism marketing entity and a valuable land reserve base, we are well positioned to take advantage of China's rapidly growing tourism industry for years to come, and we still believe that Yida will have a profitable future," concluded Dr. Chen.

Business Update and 2011 Second Half Outlook

The Company's strategic plan is to transition from what is currently a media and tourism company to one that is primarily a tourist company, where revenues derived from its tourism properties account for an ever-increasing percentage of its total revenues. The Company foresees many diverse sources of income emanating from its tourist properties. This further diversifies the contribution of all China Yida's properties so as to drive a sustainable level of total Company revenue growth, high margins and strong future earnings.

Of its existing tourist destinations, The Company anticipates that additional time is required for the Great Golden Lake to return to seasonal levels and that the third quarter will show additional progress towards that goal. At Yunding, the construction of the valley rafting facilities has been completed, and the restaurant in the gorges will be ready to operate at the end of 2011. In addition, the designs for the camping center and shopping plaza have been completed and the process to receive the necessary approval for construction has commenced. Finally, at Tulou, approval to improve the stream area is processing with the goal of reinstating the primitive beauty of the Dadi cluster. Once approved, the Company will enhance the stream area so as to further enrich the site's natural environment.

In order to launch and promote its strategic marketing plan, the Company has formed a wholly owned subsidiary, Fujian Yida Travel Service Co., Ltd. China Yida plans to conduct integrated marketing for its three current tourist destinations and eventually, for its three tourist destinations currently under construction.

In terms of its advertising and broadcast business, as previously disclosed, the Company expects that FETV's advertising revenue will be impacted by controls imposed by domestic media authorities that prohibit specialized channels such as FETV from broadcasting TV shopping programs, TV screen mini ads and certain medical ads. This has impacted the Company's revenues for the most recent quarter as the Company is utilizing media marketing strategies to prevent the continual decline of media revenue. The Company will seek to increase this advertising revenue and ultimately intends to upgrade the TV channel's profile which could lead to a more secure sourcing of advertising revenue. Finally, as also disclosed, Management continues to expect that its "Journey through China on the Train" infomercial program revenue will decline slightly in 2011 mostly due to an absence of an automatic broadcasting and monitoring system.

In terms of China Yida's three new tourism projects, development and construction events are proceeding according to schedule. The local government has approved most of the complex regulatory approvals necessary to ensure that the demolition, construction and development work will be done in line with the Company's estimates. Approximately $1.4 million in capital expenditures were disbursed during the second quarter for road construction for the Yang-sheng and City of Caves tourist destinations.

Management Share Buyback

The Company announces that Dr. Minhua Chen, Chairman and Chief Executive Officer of China Yida, intends to use his personal funds to purchase up to $250,000 worth of the Company's stock in open market transactions from the date of this announcement to the end of 2011, pursuant to a Rule 10b5-1 plan and subject to the restrictions of and consistent with the Company's securities trading policy.

"The purchase of the Company's shares reflects the confidence I have in the long-term fundamentals and growth prospects of China Yida," said Chairman Chen. "I remain committed to maximizing long-term value for shareholders and realizing the full potential of our business and operations."


Monday, July 11, 2011
Acquisition Activity

On June 24, 2011, China Yida Holding, Co. (the “Company”) incorporated an indirect wholly-owned subsidiary, China-Fujian Yida Travel Service Co., Ltd (the “New Subsidiary”), in Fuzhou City, Fujian Province, China. The New Subsidiary is 100% owned by our subsidiary Yida (Fujian) Tourism Group Limited, an indirect wholly foreign owned entity incorporated in China, which is 100% owned by our Hong Kong subsidiary, Hong Kong Yi Tat International Limited. The New Subsidiary is incorporated in China with a registered capital of RMB 10,000,000 (USD $1,546,670). Ms. Yanling Fan, the Chief Operating Officer and Director of the Company, is the President of the New Subsidiary. The authorized business term of the New Subsidiary is from June 24, 2011 to June 23, 2051.

The New Subsidiary’s business scope will be to conduct domestic and international traveling services in China, including but not limited to, operating the direct sales of travel services for our current tourist destinations at the Great Golden Lake, Yunding Recreational Park, and Hua’An Tulou Cluster, and our three tourist destinations currently under construction, Ming Dynasty Entertainment World, China Yang-sheng (Nourishing Life) Paradise, and the City of Caves. These destinations compose the tourism business segment of the Company.


Tuesday, May 10, 2011
Comments & Business Outlook

First Quarter Results:

  • Total net revenue was $11.8 million, a decrease of 20.4% as compared to $14.8 million in the first quarter of 2010
  • Net revenue from the tourism business was $1.9 million, a decrease of 68.3% year over year with a gross margin of 43.1%
  • Net revenue from the media business was $9.9 million, an increase of 12.6% year over year with a gross margin of 75.3%
  • Gross profit was $8.3 million a decrease of 30.5% to compared to $11.9 million in the same period last year
  • Net income attributable to China Yida Holding Company was $3.96 million, a decrease of 44.5% as compared to $7.1 million posted in the same period last year
  • Fully diluted EPS was $0.20 per share compared to $0.37 in the first quarter of 2010

"Our first quarter results were impacted by the lingering effects of declining tourist traffic at our Great Golden Lake destination as a result of last year's floods.  While the physical damage to the facilities was repaired late last year, the region's natural landscape continues to recover.  We are currently developing a new marketing strategy that will educate the public that Great Golden Lake has regained its former state of natural beauty and is an attractive tourist destination.  We anticipate a rebound in visitor traffic at Great Golden Lake beginning in the third quarter," said Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida.  


Monday, March 21, 2011
Liquidity Requirements

We believe that our currently available working capital, credit facilities referred to above and the expected additional credit facility should be adequate to sustain our operations at the current level for the next twelve monthsWe believe that our currently available working capital, credit facilities referred to above and the expected additional credit facility should be adequate to sustain our operations at the current level for the next twelve months.

Please note that the above statement and the statement made in CNYD 2010 third quarter 10Q..

In 2010, we have entered into agreements to develop three new tourism projects, the Ming Dynasty Entertainment World in Bengbu City, Anhui province, the China Yang-sheng (Nourishing Life) Paradise in Zhaungshu City, Jiangxi province, and the City of Caves in Fenyi City, Jiangxi province, which represent our commitment to expanding our business operations by applying our current business model to the development of other valuable tourist destinations throughout China. We expect these three projects will complete their first phase of construction and be open to the public by the end of 2012. In addition, in September 2010 we timely announced the grand opening of our Yunding Park to the public. Over the course of the next few years, we intend to further grow and expand our businesses in China’s tourism, media, entertainment and other related industry by acquiring additional tourist areas. Such acquisitions will be financed either through our revenues and cash flows or by financings.

Somewhat contradicts verbiage in its 2010 year end press release:

Management reaffirms its belief that, despite the recent setbacks, China Yida can finance all of its on-going capital expenditures from cash on hand, cash from operations and bank loans secured against its land bank.


Thursday, March 17, 2011
Comments & Business Outlook

Fourth Quarter Highlights:

  • Total net revenue decreased 15.1% to $12.3 million, compared to $14.5 million in the fourth quarter of 2009
  • Net revenue from the tourism business dropped 62.5% year over year to $2.2 million, with a gross margin of 44.3%
  • Net revenue from the media business increased 17.9% year over year to $10.1 million, with a gross margin of 77.8%
  • Gross profit decreased 22.4% to $8.8 million, compared to $11.4 million in the same period last year
  • Net income attributable to China Yida Holding Company decreased 10% to $5.3 million, compared to $5.9 million in the same period last year
  • Fully diluted EPS was $0.26 per share, compared to $0.34 in the fourth quarter of 2009

"Our 2010 results were adversely affected by a significant decline in tourist traffic at our Great Golden Lake destination during the back half of the year, as a result of the summer flash floods. I believe we have a two-phase process to recover from the unexpected damages caused by the floods.  We successfully completed the first phase in early December of last year, that is, we recovered from the physical damages to facilities in the destination and re-opened it to the public.  Now, we are in the second phase which requires us to strengthen the marketing effort to re-build Great Golden Lake's image in order to attract tourist traffic back to previous levels," Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida stated.

Management reaffirms its belief that, despite the recent setbacks, China Yida can finance all of its on-going capital expenditures from cash on hand, cash from operations and bank loans secured against its land bank.


Friday, January 14, 2011
Investor Presentations

Officers of China Yida Holding, Co. presented information and participated in information sessions with analysts and investors during the 9th Annual Consumer Conference held by Cowen and Company on January 10-11, 2011 in New York City.


Tuesday, November 23