DOCSLIB.ORG

Banyan Tree Holdings Limited FY2010 Results Briefing !

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Banyan Tree Holdings Limited FY2010 Results Briefing ! ! ( ?X ?ÍNK,, Banyan Tree Holdings Limited FY2010 Results Briefing ! ( ?X ?ÍNK,, FORWARD LOOKING STATEMENTS This document is provi ded to you for information onl y and should not be relied on or used as a basis for making any specific investment, business or commercial decision. N o representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the information or opinions contained herein. This document does not constitute and should not be construed as, any offer or solicitation for the subscripti on, purchase or sale of any securities of Banyan Tree H oldings Limited (“Banyan Tree”). Nothing in this document should be construed as a r ecommendation regarding the securities of Banyan Tree. Certain statements in this document may constitute " forward-looki ng statements”, incl uding statements regardi ng, amongst other thi ngs, Banyan Tree’s business and growth strategy. These statements reflect Banyan Tree’s expectations and are subject to risks and uncertainties that may cause actual r esults to differ materially and may adversel y affect the outcome and financial effects of the plans described her ein. You ar e cauti oned not to rely on such forward-looking statements. Banyan Tree disclaims any obligation to update their view of such risks and uncertainties or to publicly announce the result of any r evisions to the forwar d-looking statements made herein, except where they would be required to do so under applicable law. Banyan Tree is under no obligation to keep current the information contained in this document and any opi nions expressed i n it are subj ect to change without notice. None of Banyan Tree or any of its affiliates, advisers or representati ves shall have any liability whatsoever for any loss whatsoever arising from any use of this document or its contents, or otherwise arising in connecti on with this document (whether direct, indirect, consequential or other). T his document is not intended to provi de professional advice and should not be relied upon i n that regard. Prospecti ve i nvestors should consult their tax, legal, accounti ng or other advisers. The i nfor mati on i n this document is gi ven in confidence and reproducti on of this document, in whol e or in part, or disclosure of any of its contents, without prior consent of Banyan Tree, is prohibited. T his document remai ns the property of Banyan Tree and on request must be retur ned and any copies destroyed. 2 ! ( ?X ?ÍNK,, AGENDA 1. Overview Ho KwonPing 2. Financial Highlights Eddy See 3. Outlook Ariel Vera 4. Portfolio (Existing and Pipeline) Ariel Vera 3 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, Overview 4 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, 4Q10 RESULTS BRIEFING 4Q10 results boosted by gain on sale of Dusit Laguna Phuket. ° Revenue 13% to S$82.0m ° EBITDA ü 238% to S$69.0m ° PATMI ü 6-fold to S$19.5m Lower revenue due to: ° Hotel revenue from Dusit Laguna Phuket ceased from Oct. 2010 with sale of the hotel. ° Lower property sales due to the knock-on effects of Thai political crisis. 2010 full year: ° Revenue † 3% to S$305.3m ° EBITDA ü 46% to S$101.4m ° PATMI ü 422% to S$15.7m 5 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, 4Q10 / FY10 RESULTS BRIEFING 2011 remains challenging ° Economies in our European target markets remain weak. ° Thailand political situation continues to be unstable albeit ‘quiet’ currently. ° Compensated by the Chinese growth market, domestic & outbound. − Top producing market since 2009 & is still growing Outbound market to our resorts ü 2-fold vs 2009 Overall contribution to group’s room revenue ü 59% vs 2009 ° Hotel forward bookings (same store) continue to improve for 1Q11: Thailand ü by 12% Non Thailand ü by 15% Overall ü by 13% ° Banyan Tree China Hospitality Fund (I) Final close in Jan 2011 of Rmb 1.07bn (S$210m). Construction slated to start in 3Q11. ° Strategy of rebalancing assets & portfolio to continue in 2011. ° Rebranding Sheraton Grande Laguna Phuket as Angsana resort. 6 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, Financial Highlights 7 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, REVENUE, EBITDA & PATMI for 4Q10/FY10 Highlights 4Q10 vs 4Q09 S$m ¡ 4Q10 vs 4Q09 2010 vs 2009 Rev enue 13% mainly from Hotel $350.0 Inv estments and Property Sales segments due to: $313.3 -3% $305.3 – Cessation of hotel revenue from $300.0 Dusit. – Knock-on effects of the Thai political situation. $250.0 ¢ However, EBITDA 238% due to¡ gain on sale of Dus ¢ it, but offset by revenue and operating exp $200.0 following the cessation of temporary cost cutting measures at the end of last year. $150.0 ¢ PATMI 555% helped by gain on 46% Dusit sales. $94.0 -13% $101.4 $100.0 $82.0 FY10 vs FY09 $69.5 ¡ 238% $69.0 Rev enue 3% mainly from Property $50.0 Sales segment, but cushioned by higher revenue from Fee-based $20.4 555% 422% $19.5 $15.7 segment. $3.0 $3.0 ¢ $0.0 EBITDA 46% mainly due to ga¡ in on sale of Dusit, but offset by 4Q9 4Q10 2009 2010 ¢ revenue and operating exp as REVENUE EBITDA PATMI mentioned above. ¢ ¢ PATMI 422% due to EBITDA, Note: Variance is computed based on figures to the nearest thousands & in line with announcement in masnet. and gain on sale of land in Seychelles by JV company. 8 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, KEY FINANCIAL RATIOS Income Statement 4Q10 4Q09 FY 2010 FY 2009 EBITDA margin 84.1% 21.7% 33.2% 22.2% PAT margin 43.1% 5.7% 9.9% 1.1% Earnings per share (cents) 2.56 0.39 2.07 0.40 As at As at Balance Sheet 31/12/10 31/12/09 Tangible Net Worth (TNW) (S$mil) 715.6 679.7 Net Debt/Equity ratio 0.29 0.43 Net Asset Value/share (S$) 0.69 0.67 9 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, EBITDA BY SEGMENTS Hotel Investments1 Highlights 4Q10 vs 4Q09 % £ S$m 4Q10 vs 4Q09 2010 vs 2009 EB£ ITDA 81% & EBITDA margin $35.0 50% 18% points respectively due to: ¡ $29.8m ° Revenue resulting from: $30.0 40% – Cessation of contribution from -49% Dusit hotel following the $25.0 completion of sale in Oct. 30% – Knock-on effects of political riots $20.0 in April/May 2010 in Bangkok. 22.7% ¢ $15.1m ° Operating expenses following $15.0 $13.1m 20% the cessation of temporary cost 16.0% cutting measures implemented last year. $10.0 -81% 8.0% 10% FY10 vs FY09 $5.0 4.9% £ EB£ ITDA 49% & EBITDA margin 8% points respectively due to: $2.5m $0.0 0% – Reasons mentioned above but 4Q09 4Q10 2009 2010 – Partially cushioned by better EBITDA (S$M) EBITDA margin performance in 1Q10 following global economic recovery. 1. H otel management fees attributed for hotels managed and owned by BTH was allocated to hotel management seg ment. 2. Variance is computed based on figures to the nearest thousands. 10 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, EBITDA Hotel Investments1 Thailand Hotels Highlights 4Q10 vs 4Q09 £ 4Q10 vs 4Q09 2010 vs 2009 EBITDA due to: S$m ¡ 14.0 ° Revenue resulting from: – Cessation of contribution from 12.0 $11.0m Dusit hotel following its sale in 10.0 Oct. 8.0 – Knock-on effects of political $6.8m -111% riots in Bangkok in April/May 6.0 2010. ¢ 4.0 ° Operating costs due to cessation of temporary cost 2.0 -154% cutting measures implemented last year, and provision for 0.0 employee benefits. -2.0 ($1.3m) FY10 vs FY09 ($3.6m) £ -4.0 EBITDA 111%mainly due to: 4Q09 4Q10 2009 2010 – Reasons mentioned above EBITDA (S$M) – Partially offset by better 1. H otel management fees attributed for hotels managed and owned by BTH was allocated to hotel management seg ment. performance in 1Q10 following 2. Variance is computed based on figures to the nearest thousands. global economic recovery. 11 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, EBITDA Hotel Investments1 Non - Thailand Hotels Highlights 4Q10 vs 4Q09 S$m 4Q10 vs 4Q09 2010 vs 2009 £ 20.0 $18.8m 4Q10 EBITDA 4% due to: -13% – Lower revenue from our resorts $16.4m in Maldives mainly due to translation loss (i.e. weaker US$ 15.0 vs S$). In US$ terms, revenue was in line with 4Q09. FY10 vs FY09 £ 10.0 EBITDA 13% mainly due to: – Lower revenue from our resorts $6.3m -4% $6.1m in China as travellers were 5.0 diverted to the World Expo 2010 held in Shanghai from May to October. ¤ – operating expenses due to 0.0 cessation of temporary cost 4Q09 4Q10 2009 2010 cutting measures implemented EBITDA (S$M) last year. 1. H otel management fees attributed for hotels managed and owned by BTH was allocated to hotel management seg ment. 2. Variance is computed based on figures to the nearest thousands. 12 Overview | Financials | Outlook | Portfolio (Existing and Pipeline) ! ( ?X ?ÍNK,, EBITDA BY SEGMENTS Property Sales Highlights % 4Q10 vs 4Q09 S$m 4Q10 vs 4Q09 2010 vs 2009 $20.0 80% EBITDA and EBITDA margin £ 83% and ¡ 21% points due 70% to sales and recognition for $16.3m entry level products eg. Laguna Village condominium $15.0 60% units and Lofts in 4Q10, as opposed to higher-value -80% 50% Laguna Village townhomes and bungalows recognised in $10.0 40% 4Q09.
Load more

Recommended publications
  • Ecological Risk Assessment of Typical Plateau Lakes
    E3S Web of Conferences 267, 01028 (2021) https://doi.org/10.1051/e3sconf/202126701028 ICESCE 2021 Ecological Risk Assessment of Typical Plateau Lakes Yuyadong1.2*, Yankun2 1.School of Ecology and Environmental Science Yunnan University, China 2.The Ecological and Environmental Monitoring Station of DEEY in Kunming, China Abstract. Plateau lakes have significant ecological value. With economic development, lake pollution and ecological degradation have become increasingly prominent. There are many ecological risk assessment methods. This article combines four different ecological risk assessment methods including single-factor pollution index, geological accumulation index method, potential risk index method, and pollution load index method to analyze the heavy metal pollution in Yangzong seabed mud as comprehensively as possible. It shows that the results obtained by different ecological risk assessment methods are slightly different. The overall trends of the geological pollution index and the single-factor pollution index are similar. In terms of time, except for the two elements of mercury and cadmium, the contents of other heavy metals in 2019 are lower than in 2018, indicating that heavy metal pollution has decreased in 2019; from the perspective of spatial distribution, In 2018, the overall pollution level on the south side of Yangzonghai was higher than that in the central and northern regions of Yangzonghai . On the whole, whether it is the potential risk index or the appropriate pollution load index, the pollution level on the south side of Yangzonghai is higher than that in the central and northern areas of Yangzonghai, and the northern area has the least pollution. ecosystems is relatively reduced, which makes the economic development of plateau lake basins face severe 1 Introduction challenges.
    [Show full text]
  • Water Resource Risk Assessment Based on Non-Point Source Pollution
    water Article Water Resource Risk Assessment Based on Non-Point Source Pollution Xiaodie Yuan and Zhang Jun * School of Architecture and Planning, Yunnan University, Kunming 650500, China; [email protected] * Correspondence: [email protected] Abstract: As one of the most important causes of water quality deterioration, NPS (non-point source) pollution has become an urgent environmental and livelihood issue. To date, there have been only a few studies focusing on NPS pollution conforming to the estimation, and the pollution sources are mainly concentrated in nitrogen and phosphorus nutrients. Unlike studies that only consider the intensity of nitrogen and phosphorus loads, the NPS pollution risk for the China’s Fuxian Lake Basin was evaluated in this study by using IECM (Improve Export Coefficient Model) and RUSLE (Revised Universal Soil Loss Equation) models to estimate nitrogen and phosphorus loads and soil loss and by using a multi-factor NPS pollution risk assessment index established on the basis of the data mentioned above. First, the results showed that the load intensity of nitrogen and phosphorus pollution in the Fuxian Lake Basin is low, so agricultural production and life are important sources of pollution. Second, the soil loss degree of erosion in the Fuxian Lake is mild, so topography is one of the most important factors affecting soil erosion. Third, the risk of NPS pollution in the Fuxian Lake Basin is at a medium level and its spatial distribution characteristics are similar to the intensity characteristics of nitrogen and phosphorus loss. Nitrogen, phosphorus, sediment, and mean concentrations are important factors affecting NPS pollution.
    [Show full text]
  • Supplement of a Systematic Examination of the Relationships Between CDOM and DOC in Inland Waters in China
    Supplement of Hydrol. Earth Syst. Sci., 21, 5127–5141, 2017 https://doi.org/10.5194/hess-21-5127-2017-supplement © Author(s) 2017. This work is distributed under the Creative Commons Attribution 3.0 License. Supplement of A systematic examination of the relationships between CDOM and DOC in inland waters in China Kaishan Song et al. Correspondence to: Kaishan Song ([email protected]) The copyright of individual parts of the supplement might differ from the CC BY 3.0 License. Figure S1. Sampling location at three rivers for tracing the temporal variation of CDOM and DOC. The average widths at sampling stations are about 1020 m, 206m and 152 m for the Songhua River, Hunjiang River and Yalu River, respectively. Table S1 the sampling information for fresh and saline water lakes, the location information shows the central positions of the lakes. Res. is the abbreviation for reservoir; N, numbers of samples collected; Lat., latitude; Long., longitude; A, area; L, maximum length in kilometer; W, maximum width in kilometer. Water body type Sampling date N Lat. Long. A(km2) L (km) W (km) Fresh water lake Shitoukou Res. 2009.08.28 10 43.9319 125.7472 59 17 6 Songhua Lake 2015.04.29 8 43.6146 126.9492 185 55 6 Erlong Lake 2011.06.24 6 43.1785 124.8264 98 29 8 Xinlicheng Res. 2011.06.13 7 43.6300 125.3400 43 22 6 Yueliang Lake 2011.09.01 6 45.7250 123.8667 116 15 15 Nierji Res. 2015.09.16 8 48.6073 124.5693 436 83 26 Shankou Res.
    [Show full text]
  • Acknowledgements
    Acknowledgements First of all, I sincerely thank all the people I met in Lisbon that helped me to finish this Master thesis. Foremost I am deeply grateful to my supervisor --- Prof. Ana Estela Barbosa from LNEC, for her life caring, and academic guidance for me. This paper will be completed under her guidance that helped me in all the time of research and writing of the paper, also. Her profound knowledge, rigorous attitude, high sense of responsibility and patience benefited me a lot in my life. Second of all, I'd like to thank my Chinese promoter professor Xu Wenbin, for his encouragement and concern with me. Without his consent, I could not have this opportunity to study abroad. My sincere thanks also goes to Prof. João Alfredo Santos for his giving me some Portuguese skill, and teacher Miss Susana for her settling me down and providing me a beautiful campus to live and study, and giving me a lot of supports such as helping me to successfully complete my visa prolonging. Many thanks go to my new friends in Lisbon, for patiently answering all of my questions and helping me to solve different kinds of difficulties in the study and life. The list is not ranked and they include: Angola Angolano, Garson Wong, Kai Lee, David Rajnoch, Catarina Paulo, Gonçalo Oliveira, Ondra Dohnálek, Lu Ye, Le Bo, Valentino Ho, Chancy Chen, André Maia, Takuma Sato, Eric Won, Paulo Henrique Zanin, João Pestana and so on. This thesis is dedicated to my parents who have given me the opportunity of studying abroad and support throughout my life.
    [Show full text]
  • The Countermeasure Research of Sustainable Development in the Fuxian Lake Basin
    2021 4th International Conference on Interdisciplinary Social Sciences & Humanities (SOSHU 2021) The Countermeasure Research of Sustainable Development in the Fuxian Lake Basin Qingjuan Meng, Guangzhou Zhao, Yong Tang, Yuanlin Hu, Jie Li, Hongzhe Zhang, Zhifang Chen, Junjie Li, Zhenhua Song, Hailong Wang, Youlin Zhang Oxbridge College, Kunming University of Science and Technology, Kunming, Yunnan, China, 650106 Keywords: The Countermeasure, Research of Sustainable Development, Fuxian Lake Abstract: The sustainable development of the Fuxian Lake Basin aims to maintain the sound and sustainable development of mountains, rivers, forests, croplands, lakes, and grasses in the basin and to coordinate the relationship of society, economy, environment, production, life, and ecological water utilization so that social economy in the basin can adapt to the carrying capacity of water resource environment to determine needs and development with rivers. Development is conducting in protection while protection is implementing in development, so as to strongly develop the circular economy. On the basis of the water environmental transition in the Fuxian Lake, this thesis analyzed the developmental status and existing problems of the Fuxian Lake Basin and put forward countermeasures from four aspects including ecological development, economic development, social development, and scientific development, hoping to provide theoretical support and practical experience of the sustainable development research for plateau lakes. The Fuxian Lake is situated in Yuxi City, Yunnan Province. It is the deep-water freshwater lake with the greatest water storage and also the only high-quality freshwater lake of China. The Fuxian Lake steps over Chengjiang, Jiangchuan, and Huaning, situated in the central part of five lakes(the Fuxian Lake, the Xingyun Lake, the Qilu Lake, Yangzong Lake, and Dianchi)(Figure 1).
    [Show full text]
  • 7. CET-Kunming
    7. CET-Kunming a. Ken Tanaka, Summer 2019 Final Report Introduction ​ A good amount of Yalies on the Light Fellowship probably won't consider studying in Kunming. Some might not even know that Kunming exists. Others might think that Kunming, a city with a measly population of 6.2 million in far-off Yunnan province, isn't as fun to spend the summer at in comparison to glitzy Shanghai or iconic Beijing. Yet some more students might automatically choose a program like HBA - after all, HBA is abound with Yale students, and who wouldn't want to spend some time in China with people you already know from school? If you don't consider Kunming as a potential place to study at, I'm going to keep it real with you and say that you're making a big mistake. Choosing to study Chinese through CET-Kunming has been one of the greatest experiences of my college time, and I believe that CET-Kunming, while perhaps not as renown as PiB, HBA, or ICLP, is truly a hidden gem. My name is Ken Tanaka, and I'm a current junior (class of 2021) majoring in Global Affairs. I took a year of Chinese my junior year of high school (equivalent to L1 here), and then took CHNS120, CHNS 130, and CHNS140 my freshman spring through my sophomore spring. As I was not a freshman when considering studying abroad in China, I will admit that I was a little bit hesitant at first when considering study abroad - after all, many of my peers were applying for internships.
    [Show full text]
  • Lake Status Records from China: Data Base Documentation
    Lake status records from China: Data Base Documentation G. Yu 1,2, S.P. Harrison 1, and B. Xue 2 1 Max Planck Institute for Biogeochemistry, Postfach 10 01 64, D-07701 Jena, Germany 2 Nanjing Institute of Geography and Limnology, Chinese Academy of Sciences. Nanjing 210008, China MPI-BGC Tech Rep 4: Yu, Harrison and Xue, 2001 ii MPI-BGC Tech Rep 4: Yu, Harrison and Xue, 2001 Table of Contents Table of Contents ............................................................................................................ iii 1. Introduction ...............................................................................................................1 1.1. Lakes as Indicators of Past Climate Changes........................................................1 1.2. Chinese Lakes as Indicators of Asian Monsoonal Climate Changes ....................1 1.3. Previous Work on Palaeohydrological Changes in China.....................................3 1.4. Data and Methods .................................................................................................6 1.4.1. The Data Set..................................................................................................6 1.4.2. Sources of Evidence for Changes in Lake Status..........................................7 1.4.3. Standardisation: Lake Status Coding ..........................................................11 1.4.4. Chronology and Dating Control..................................................................11 1.5. Structure of this Report .......................................................................................13
    [Show full text]
  • Yunnan Provincial Highway Bureau
    IPP740 REV World Bank-financed Yunnan Highway Assets management Project Public Disclosure Authorized Ethnic Minority Development Plan of the Yunnan Highway Assets Management Project Public Disclosure Authorized Public Disclosure Authorized Yunnan Provincial Highway Bureau July 2014 Public Disclosure Authorized EMDP of the Yunnan Highway Assets management Project Summary of the EMDP A. Introduction 1. According to the Feasibility Study Report and RF, the Project involves neither land acquisition nor house demolition, and involves temporary land occupation only. This report aims to strengthen the development of ethnic minorities in the project area, and includes mitigation and benefit enhancing measures, and funding sources. The project area involves a number of ethnic minorities, including Yi, Hani and Lisu. B. Socioeconomic profile of ethnic minorities 2. Poverty and income: The Project involves 16 cities/prefectures in Yunnan Province. In 2013, there were 6.61 million poor population in Yunnan Province, which accounting for 17.54% of total population. In 2013, the per capita net income of rural residents in Yunnan Province was 6,141 yuan. 3. Gender Heads of households are usually men, reflecting the superior status of men. Both men and women do farm work, where men usually do more physically demanding farm work, such as fertilization, cultivation, pesticide application, watering, harvesting and transport, while women usually do housework or less physically demanding farm work, such as washing clothes, cooking, taking care of old people and children, feeding livestock, and field management. In Lijiang and Dali, Bai and Naxi women also do physically demanding labor, which is related to ethnic customs. Means of production are usually purchased by men, while daily necessities usually by women.
    [Show full text]
  • Report on the State of the Environment in China 2016
    2016 The 2016 Report on the State of the Environment in China is hereby announced in accordance with the Environmental Protection Law of the People ’s Republic of China. Minister of Ministry of Environmental Protection, the People’s Republic of China May 31, 2017 2016 Summary.................................................................................................1 Atmospheric Environment....................................................................7 Freshwater Environment....................................................................17 Marine Environment...........................................................................31 Land Environment...............................................................................35 Natural and Ecological Environment.................................................36 Acoustic Environment.........................................................................41 Radiation Environment.......................................................................43 Transport and Energy.........................................................................46 Climate and Natural Disasters............................................................48 Data Sources and Explanations for Assessment ...............................52 2016 On January 18, 2016, the seminar for the studying of the spirit of the Sixth Plenary Session of the Eighteenth CPC Central Committee was opened in Party School of the CPC Central Committee, and it was oriented for leaders and cadres at provincial and ministerial
    [Show full text]
  • A New Freshwater Snail (Gastropoda, Pomatiopsidae) Endemic to Fuxian Lake (Yunnan, China) Identified, Based on Morphological and DNA Evidence
    Biodiversity Data Journal 8: e57218 doi: 10.3897/BDJ.8.e57218 Taxonomic Paper A new freshwater snail (Gastropoda, Pomatiopsidae) endemic to Fuxian Lake (Yunnan, China) identified, based on morphological and DNA evidence Ling Shi‡‡, Yu Shu , Chen Qiang‡‡, Ping Xu , Ying Tian‡,§, Yaqing Chang ‡ ‡ Key Laboratory of Mariculture & Stock Enhancement in North China Sea, Ministry of Agriculture, Dalian Ocean University, Dalian, China § Dalian Shell Museum, Dalian, China Corresponding author: Ying Tian ([email protected]), Yaqing Chang ([email protected]) Academic editor: Alexander M. Weigand Received: 04 Aug 2020 | Accepted: 23 Oct 2020 | Published: 03 Nov 2020 Citation: Shi L, Shu Y, Qiang C, Xu P, Tian Y, Chang Y (2020) A new freshwater snail (Gastropoda, Pomatiopsidae) endemic to Fuxian Lake (Yunnan, China) identified, based on morphological and DNA evidence. Biodiversity Data Journal 8: e57218. https://doi.org/10.3897/BDJ.8.e57218 ZooBank: urn:lsid:zoobank.org:pub:C1FF9D49-158C-4D86-A3D4-8E8818CC2DD8 Abstract Background Lacunopsis Deshayes, 1876 is restricted to South Asia and shows a remarkable regional distribution. Fifteen species have been reported from the lower Mekong River area of Laos, Cambodia, Thailand and Vietnam. Two species, Lacunopsis auris Y.-Y. Liu, Y.-X. Wang & W.-Z. Zhang, 1980 and L. yunnanensis Y.-Y. Liu, Y.-X. Wang & W.-Z. Zhang, 1980 occur in the Yunnan Province of China. The most recent treatments of Lacunopsis date back to the 1970s and 1980s, therefore detailed information on anatomy and DNA analysis is lacking. © Shi L et al. This is an open access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
    [Show full text]
  • Physical Studies of Asteroids at the Yunnan Observatories X
    Conference abstract Asteroids, Comets, Meteors Helsinki, 2014 Physical studies of asteroids at the Yunnan Observatories X. Wang1 and K. Muinonen2,3 1Yunnan observatories, CAS, China 2Department of Physics, University of Helsinki, Finland 3Finnish Geodetic Institute, Masala, Finland The Yunnan observatories are among the major astronomical observatories in China. There are three sites for the Yunnan observatories: Kunming, Lijiang, and Fuxian lake. There is a 1.0-m telescope at the Kunming site and a 2.4-m telescope at the Lijiang site; these are usually used for asteroid studies and are thus discussed here. Asteroids are thought to be remnants of planetesimals in the Solar System. Their physical properties, such as their spins and shapes, can provide important constraints on the formation and evolution of the entire Solar System as well as the individual small bodies themselves. Because the two telescopes are located at low latitudes (of about 25 degrees), they are useful for the observation of small Solar System bodies. With the photometric data obtained by the two telescopes, we have carried out studies on the determination of physical parameters for selected asteroids, e.g., the spin parameters and the convex shape. We analyze the surface characteristics of asteroids with the help of the spectral data from the 2.4-m telescope. For the determination of the spin parameters and the convex shape, several inversion methods have been developed [1,2; also, Muinonen et al., present meeting], e.g., the convex inversion method [3,4]. Under the frame of a collaboration between the Yunnan Observatories and the University of Helsinki, we carried out studies on lightcurve inversion.
    [Show full text]
  • The Strategy and Analysis of Optimizing Lugu Lake Tourism Image
    Dong , L Xu, C Chen,BL The strategy and analysis of optimizing lugu lake tourism Image Case Study Paper The strategy and analysis of optimizing lugu lake tourism Image based on online travel data Author 1 Le Dong, Shanghai Tongji urban planning and design institute; China Author 2 Chen Xu, Shanghai Tongji urban planning and design institute; China Author 2 Baolu Chen, Shanghai Tongji urban planning and design institute; China Abstract Tourism image is of great significant to construction of scenic areas and enhancement of scenic competitiveness. However, many scenic areas are facing problems such as ignoring their own cultural values, homogenization and self- positioning. It is meaningful to define what the tourism image actually is. For the past few years, the number of internet users are increasing dramatically, whose comments boost the progress of intelligent tourism. The utilization of these online information now becomes an important way for tourists to generate how the destinations look like. In the age of big data, analysis of online comments is helpful to explore cultural features, shape the scenic areas’ image and improve tourists’ satisfaction. This essay takes Lugu lake scenic area as an example, consist of three parts. The first part focus on comments extraction about tourism resources, infrastructures and service. After that, the second part mainly deals with the analysis of tourists’ behaviors and perception. Lastly, the third part proposes the optimization strategy in scenic marketing and precision services, scenic image creation, facilities improvement, linkage development with surrounding attractions and other perspectives. Online travelling comments are encouraged to spread among tourists, as a result, either good or bad reviews will lead to exponentially influence and exposure.
    [Show full text]