Core Viewpoint - The tourism market in China is experiencing a significant recovery and transformation, with traditional travel agencies adapting to new consumer preferences and competition from online travel agencies (OTAs) [2][5][11]. Current Situation - The Ministry of Culture and Tourism reported that domestic tourism in 2024 is expected to reach 5.62 billion trips, a year-on-year increase of 14.8% [2]. - The number of travel agencies in China has increased to 64,616, up from 56,275 in 2023, adding over 8,000 agencies [2]. - Despite the growth in travel agencies, the popularity of traditional group tours is declining, with younger consumers favoring free and customized travel options [2][4]. Emerging Trends - Free travel and self-driving tours are gaining traction, supported by social media platforms that provide rich information on transportation, attractions, and food [4]. - The rise of niche themed tours offered by companies like Daocaoren and Youxiake is creating new social travel experiences for young people [4]. Company Performance - Many travel companies are reporting steady growth despite challenges, with companies like China Youth Travel Service (CYTS) achieving a revenue of approximately 1.949 billion yuan, a year-on-year increase of 58.13% [5]. - Lingnan Holdings' travel business also showed strong performance, with revenue of 3.121 billion yuan, up 36.77% [5]. Transformation Strategies - Travel agencies are shifting towards smaller, customized group tours, moving away from large group tours [6][8]. - Customized services are becoming a key offering, with agencies providing tailored travel plans based on individual customer needs [9]. - The rise of educational travel and conference services is becoming a significant part of travel agency offerings, with companies like Kanghui establishing dedicated educational travel centers [10]. Future Directions - Travel agencies are focusing on niche markets and personalized services to attract and retain customers, particularly targeting the aging population [11][12]. - Innovative travel packages that combine tourism with events like concerts and sports are emerging as popular options [11]. - Digital transformation is crucial for traditional travel agencies to enhance service delivery and competitiveness [13].

Core Viewpoint - The article discusses the challenges and failures faced by ancient town tourism projects in China, highlighting the need for innovative approaches to avoid the pitfalls of oversaturation and ineffective investment in the sector [1][12]. Group 1: Investment Challenges - Hunan Zhangjiajie Duyong Ancient Town, which cost 2.4 billion yuan to build, has suffered losses exceeding 1 billion yuan over four years, raising concerns about the sustainability of such investments [1]. - Many ancient town projects across the country have faced delays, inefficiencies, or have been abandoned, indicating a trend of "zombie towns" and wasted resources [12][14]. Group 2: Successful Models - Zhouzhuang, known as "China's first water town," successfully transformed its economy through tourism, with ticket sales starting in 1989 and the establishment of a unified ticketing system in 1995 [3][4]. - Wuzhen, another successful case, underwent significant renovations to preserve its historical essence, leading to a dramatic increase in tourist numbers and revenue after its development began in 1999 [6][7][8]. Group 3: Failed Projects - Puyuan Ancient Town, developed under a similar model to Wuzhen, faced significant delays and financial losses, leading to the exit of its major investor, China Youth Travel Service, after only six months of trial operations [9][10][11]. - The financial struggles of Puyuan are attributed to the downturn in the real estate market and the challenges of the "cultural tourism + real estate" model, which became unsustainable [10][11]. Group 4: Future Directions - The article suggests that future developments in ancient town tourism should focus on integrating local culture and providing authentic experiences to meet the evolving demands of consumers [12][14]. - Innovative approaches, such as creating unique cultural events and interactive experiences, are essential for attracting visitors and revitalizing struggling projects [14].

Group 1 - The influx of foreign tourists to China is significantly increasing, with Beijing reporting over 10 million entries and exits, a 21.1% year-on-year growth, and 2.95 million foreign visitors, a 38.1% increase [1] - Shanghai welcomed 4.248 million inbound tourists from January to June, marking a 38.5% rise, and saw a remarkable 85% growth in sales of tax refund goods [1] - The growth in inbound tourism is attributed to continuous innovation in products and services by travel companies, catering to the personalized needs of overseas tourists, alongside targeted government policies [1] Group 2 - Travel agencies are enhancing their inbound tourism offerings, with China Youth Travel Service launching customized travel products and a series of short-term and long-term tour options [2] - The inbound tourism market is characterized by a diverse visitor demographic, with a rapid increase in tourists from Southeast Asia and significant growth potential from European and American markets [2] - Social media plays a crucial role in promoting inbound tourism by sharing visitor experiences and attracting more tourists [2] Group 3 - Shanghai's action plan for optimizing the tax refund consumption environment aims to have over 3,000 tax refund stores and more than 10,000 outlets by 2027, with a focus on immediate refunds and coverage in central urban areas [3] - Continuous optimization of visa facilitation measures and the promotion of Chinese culture abroad are expected to attract more overseas tourists, further driving the growth of inbound tourism [3]

以下文章来源于智谷趋势Trend ，作者澜瑟 布语 又一个泡沫破了！ 被寄予厚望的旅游，突然成了2025年最难做的生意 。 近日，青海省旅游投资集团股份有限公司（以下简称"青海旅投"）及下属13家公司集体破产清 算，给整个旅游圈带来不小的震撼。 这家曾喊出"三年投融资百亿，五年上市"的省级国资文旅平台，干光4.8亿注册资本，整个过程 充满荒诞：高管团灭、2371万投给无产权营地、收购资不抵债公司倒贴3000万…… 云南、张家界、桂林、西安、大连、西藏等地的文旅公司，个个都处于困顿期。 截至目前，有 44家上市公司披露了一季度财报，其中有25家营收负增长，占整体的56.8% 。 智谷趋势Trend . 新中产的首席财富顾问 作者： 女兆 来源：智谷趋势Trend 01 青海旅投 ，其实 是"含着金钥匙出生的"。 这家省属文旅国企，既有得天独厚的自然资源，又有令人羡慕的政策资源，还有非常丰厚的金融 资源。 自然资源方面，青海是新兴的旅游大省，不仅有中国面积最大的高原内陆咸水湖青海湖，还有世 界闻名的可可西里、历史悠久的唐蕃古道，更是长江、黄河和澜沧江三大河流的发源地。 ---------------------- ...

Core Points - The company held its first meeting of the tenth board of directors on June 12, 2025, with all 11 directors present, including 3 via video conference [1] - The board elected Ni Yangping as the chairman and Zhao Peng as the vice chairman, both serving terms consistent with the tenth board [1][2] - The board established various specialized committees, appointing independent directors as chairs, with terms aligned with the board's duration [2] - Zhao Peng was appointed as the company's president, with his term also aligned with the tenth board [2][3] - The board appointed Gao Luhua as the secretary of the board and Li Lan as the securities affairs representative, both serving terms consistent with the tenth board [3] Committee Appointments - The Audit Committee will be chaired by independent director Dou Chao [2] - The Nomination Committee will be chaired by independent director Li Renzhi [2] - The Remuneration and Assessment Committee will be chaired by independent director Li Juhe [2] - The Sustainable Development Committee will be chaired by director Ni Yangping [2] Management Profiles - Zhao Peng, born in September 1973, has a background in economics and extensive experience in risk management and compliance within China Everbright Bank [4] - Gao Luhua, born in March 1971, holds a degree in management and has served in various financial management roles within China Everbright Bank [5] - Liu Zhuofei, born in August 1981, has a graduate degree and has held managerial positions in financial services and investment within China Everbright Group [6] - Li Lan, born in July 1982, is a lawyer with a master's degree in management and has experience in legal and compliance roles within the company [7]

Group 1 - The company held its first extraordinary general meeting on June 27, 2025, in compliance with relevant laws and regulations [1][5][19] - The meeting was attended by a total of 580 participants, representing 188,919,074 shares, which accounted for 26.0995% of the total voting shares [6][19] - The meeting's resolutions were passed with significant majority votes, including the election of new board members [8][10][19] Group 2 - The legal opinion issued confirmed that the procedures for convening and holding the general meeting complied with the Company Law and Securities Law [3][19] - The voting results showed that the majority of shareholders supported the proposed resolutions, with some resolutions receiving over 94% approval [7][19] - The participation of minority investors was noted, with 84.1610% of them voting in favor of the resolutions [7][19]

公司近日以现场方式召开职工代表大会，会议选举卜方方女士为公司第十届 董事会职工代表董事，任期与第十届董事会一致。 本次职工代表大会选举产生的职工代表董事简历如下： 卜方方，女，1979 年 12 月生，大学本科学历，文学学士，中共党员。历任 中青旅控股股份有限公司市场推广部副总经理，中青旅遨游网总部内容创意部执 行总经理，中青旅控股公司联盟秘书处副秘书长，办公室/党委办公室副主任， 党群工作部部长。现任中青旅控股股份有限公司党委办公室/公司办公室主任、 工会副主席。与本公司董事、高级管理人员不存在关联关系，与本公司实际控制 人、持股 5%以上的股东不存在关联关系，不存在不得担任上市公司董事的情形， 持有本公司股份 0 股，未受过中国证监会及其他有关部门的处罚和证券交易所 惩戒。 特此公告。 股票代码：600138 股票简称：中青旅 编号：临 2025-030 中青旅控股股份有限公司 关于选举职工代表董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《中青旅控股股份有限公司章程》的规定，中青旅控股股份有限公司（以 ...

证券代码：600138 证券简称：中青旅 公告编号：2025-028 中青旅控股股份有限公司 2025年第一次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 06 月 27 日 (二)股东大会召开的地点：中青旅大厦 2009 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 580 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 188,919,074 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 26.0995 | (四)表决方式是否符合《公司法》及《公司章程》规定，股东大会主持情况等。 1.00 关于选举公司第十届董事会董事的议案 1.01 议案名称：关于选举倪阳平先生为公司第十届董事会董事的议案 审议结果：通过 表决情况： | 股东类 ...

证券代码：600138 证券简称：中青旅 公告编号：临 2025-029 中青旅控股股份有限公司 第十届董事会第一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中青旅控股股份有限公司（以下简称"公司"）第十届董事会第一次会议于 2025 年 6 月 27 日以现场和视频相结合的方式在公司 2009 会议室召开。会议通 知及会议文件于 2025 年 6 月 12 日以电子邮件方式送达董事。会议应到董事 11 人，实到董事 11 人，其中以视频方式出席的董事 3 人。公司高级管理人员列席 会议，会议由董事长倪阳平主持。会议的召开符合《公司法》和公司《章程》的 规定，会议以记名投票表决的方式审议通过了以下事项： 一、关于选举公司第十届董事会董事长的议案 二、关于选举公司第十届董事会副董事长的议案 表决结果：通过。 根据《公司法》和公司《章程》的有关规定，第十届董事会选举倪阳平先生 为公司董事长，任期与公司第十届董事会一致。 11 票赞成，0 票反对，0 票弃权。 表决结果：通过。 根据《公司法》和公司《章程》的有关 ...

北京市金杜律师事务所 关于中青旅控股股份有限公司 2025 年第一次临时股东大会的法律意见书 致：中青旅控股股份有限公司 北京市金杜律师事务所（以下简称本所）接受中青旅控股股份有限公司（以 下简称公司）的委托，根据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会 （以下简称中国证监会）《上市公司股东会规则（2025 年修订）》（以下简称 《股东会规则》）等中华人民共和国境内（以下简称中国境内，为本法律意见书 之目的，不包括中国香港特别行政区、中国澳门特别行政区和中国台湾省）现行 有效的法律、行政法规、部门规章、规范性文件和现行有效的《公司章程》有关 规定，指派律师出席了公司于 2025 年 6 月 27 日召开的 2025 年第一次临时股东 大会（以下简称本次股东大会），并就本次股东大会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2023 年年度股东大会审议通过的《中青旅控股股份有限公司章程》 （以下简称《公司章程》）； 2. 公司于 2025 年 6 月 12 日刊登于 ...