A-share listed company “Caesar Travel” suspected of falling victim to contract fraud. The company announced that its wholly-owned subsidiary discovered that the counterpart of a 26.95 million yuan (RMB, the same below) contract payment suddenly became unresponsive after payment, and the police have now filed a case.
On the evening of September 15th, Caesar Travel (SZ000796) issued a notice regarding “Important Matters of the Company’s Subsidiary,” disclosing that its wholly-owned subsidiary, Caesar Tongsheng Cultural Industry Development (Beijing) Co., Ltd. (hereinafter referred to as “Caesar Culture”), signed an entertainment service contract with the counterpart, but failed to establish effective contact after paying the contracted 26.95 million yuan. The company suspects the counterpart of contract fraud and has reported the case to the police for investigation.
The announcement stated that the matter is currently under investigation, and the progress and final outcome of the case are uncertain, which may have an adverse impact on the company’s current and future profits. Caesar Travel has initiated an internal special investigation and is cooperating with the police investigation to mitigate the losses.
By the end of September 15th, Caesar Travel’s stock price closed at 3.81 yuan, a decline of 6.62%, with a market value of 6.11 billion yuan.
Public records show that Caesar Travel was founded in 1996 and achieved a backdoor listing in 2015, becoming the second private travel agency listed in China, forming a dual main business of “travel + catering.” After completing bankruptcy reorganization in 2023, the company is now controlled by Qingdao State-owned Assets Holding Group, with the controlling shareholder being Qingdao Huanhai Bay Cultural Tourism Development Group Co., Ltd., and the ultimate controller being the State-owned Assets Operation and Development Center of Shibei District, Qingdao.
Caesar Travel mainly engages in travel services, aviation and railway catering services, and marine cultural tourism business.
On August 27th, Caesar Travel’s 2026 interim report revealed that in the first half of the year, the company realized operating income of approximately 435 million yuan, a year-on-year increase of 37.08%; a net loss attributable to the parent company of about 11.05 million yuan, a 54.68% reduction in losses year-on-year; and a non-GAAP net loss attributable to the parent company of about 42.93 million yuan, an increase in losses of 44% year-on-year.
Caesar Travel stated that the year-on-year increase in operating income in the first half of the year was mainly due to the increase in revenue from the tourism sector and marine cultural tourism business.
On April 10th, Caesar Travel announced its decision to reduce the capital of its wholly-owned subsidiary, Sanya Caesar Tongsheng Development Holding Co., Ltd., and its wholly-owned subsidiary, Caesar Shijiaxin Retail Co., Ltd. Sanya Caesar’s registered capital was reduced from 200 million yuan to 20 million yuan, and Caesar’s new retail registered capital was reduced from 200 million yuan to 50 million yuan, with the reduced registered capital being the capital not yet paid up. Caesar Travel stated that this capital reduction aims to focus on the development of the main business and alleviate future capital pressure.