Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥4.35 billion, an increase of 4.12% compared to ¥4.18 billion in the same period last year[13]. - The net profit attributable to shareholders of the listed company decreased by 31.84% to approximately ¥72.57 million, down from ¥106.47 million in the previous year[13]. - The net profit after deducting non-recurring gains and losses was approximately ¥73.83 million, a decrease of 26.26% from ¥100.13 million in the same period last year[13]. - Basic earnings per share decreased by 31.84% to ¥0.100258, down from ¥0.147096 in the same period last year[14]. - The net profit for the first half of 2024 was 72.57 million RMB, a decrease of 31.84% year-on-year due to increased costs such as labor and depreciation[23]. - The total profit for the first half of 2024 was CNY 169,962,090.80, compared to CNY 233,754,797.45 in the previous year, a decrease of about 27.3%[73]. - Operating profit for the first half of 2024 was CNY 176,845,012.70, down from CNY 234,807,638.20 in the same period of 2023, representing a decline of approximately 24.6%[73]. - The company’s total comprehensive income for the first half of 2024 was CNY 110,408,634.30, down from CNY 162,851,027.83 in the same period of 2023, indicating a decline of approximately 32.2%[73]. Cash Flow and Liquidity - The net cash flow from operating activities was approximately ¥197.25 million, compared to a negative cash flow of ¥970.14 thousand in the previous year[13]. - The company's cash flow from operating activities improved significantly, reaching 197.25 million RMB, compared to a negative cash flow in the previous year[31]. - The company's cash and cash equivalents decreased by 12.74% to ¥1,068,309,831.49 from ¥1,224,214,542.66 in the previous year[32]. - The ending cash and cash equivalents balance for the first half of 2024 was CNY 196,629,649.84, down from CNY 253,452,708.61 at the end of the first half of 2023[80]. - The company reported a total cash outflow from operating activities of CNY 5,212,730,617.14, compared to CNY 4,903,340,055.75 in the previous year, reflecting an increase of approximately 6.3%[77]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥16.95 billion, a decrease of 1.92% from ¥17.29 billion at the end of the previous year[13]. - The total liabilities decreased from CNY 8,939,441,063.75 to CNY 8,567,904,352.23, a decrease of approximately 4.14%[68]. - The company's long-term borrowings decreased significantly by 34.51% to ¥584,017,985.21 from ¥891,795,383.33 in the previous year[33]. - The total current assets as of June 30, 2024, amounted to approximately ¥6.28 billion, a decrease from ¥6.38 billion at the end of the previous year[66]. - The total amount of guarantees provided by the company is 26.17 billion RMB, which accounts for 42.03% of the company's net assets[56]. Market and Operational Insights - In the first half of 2024, domestic tourism trips reached 2.725 billion, a year-on-year increase of 14.3%[18]. - Total domestic tourism spending amounted to 2.73 trillion RMB, reflecting a year-on-year growth of 19.0%[18]. - The tourism market in 2024 faces challenges such as insufficient domestic demand and intensified competition, despite ongoing recovery[18]. - The company operates key cultural tourism destinations, including Wuzhen and Gubei Water Town, which are significant profit contributors[20]. - The company has established a comprehensive marketing service system, focusing on integrated marketing solutions for various clients[20]. Investment and Growth Strategies - The company is actively expanding its cultural tourism integration projects, including urban renewal and rural revitalization initiatives[29]. - The strategic investment business generated revenue of 1.647 billion RMB, contributing a net profit of 24.34 million RMB during the reporting period[30]. - The company aims to innovate its core products and services to attract a diverse customer base, mitigating risks associated with macroeconomic fluctuations[42]. - The company has initiated projects like the "One Field" rice and oil project in Jiangxi and the "Mushroom Fantasy Town" project in Henan, aimed at promoting high-quality rural development[51]. Shareholder and Governance Information - The company did not propose any cash dividends or capital reserve transfers during this reporting period[3]. - The total number of shares and the capital structure of the company remained unchanged during the reporting period[58]. - The largest shareholder, China Youth Travel Group Co., Ltd., holds 125,752,786 shares, representing 17.37% of the total shares[58]. - The company has appointed two new vice presidents, enhancing its leadership structure following recent personnel changes[45]. Risk Management and Compliance - The company has established emergency mechanisms to address risks from natural disasters and pandemics, which significantly impact consumer travel behavior[43]. - The company has identified intensified market competition as a risk, particularly in the tourism sector, and plans to enhance brand reputation and product quality to maintain competitive advantage[41]. - The company confirmed its ability to continue as a going concern for at least 12 months from the end of the reporting period[89]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[88].

证券代码：600138 证券简称：中青旅 公告编号：临 2024-027 中青旅控股股份有限公司 为控股子公司提供担保的公告 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个别及连带责任。 重要内容提示: 一、担保情况概述 中青旅控股股份有限公司（以下简称"公司"）于 2024 年 4 月 1 日召开第 九届董事会第五次会议、2024 年 4 月 24 日召开 2023 年年度股东大会，审议通 过了《2024 年度担保计划的议案》，其中，自 2023 年度股东大会至 2024 年度 股东大会期间，公司为北京中青旅创格科技有限公司（以下简称"中青旅创格"） 预计提供不超过 20 亿元额度的银行授信担保。 近日，为满足正常业务发展需要，中青旅创格向华夏银行股份有限公司北京 建国门支行申请人民币 1.6 亿元额度的银行授信，公司与华夏银行股份有限公司 北京建国门支行签订了《最高额保证合同》，约定公司为前述银行授信提供担保。 北京中盛宜管理咨询有限公司作为中青旅创格的少数股东, 按其持有的股 1 被担保人名称：北京中青旅创格科技有限公司 本次担 ...

图表目录 请仔细阅读本报告末页声明 内容目录 7. 风险提示 图表 1: 公司发展历程 | --- | |-----------------------------------------------------| | | | | | 图表 2: 公司主要业务 | | 图表 3: 2003-2023 年营业收入及 yoy . | | 图表 4： 2013-2023 年各业务营收占比 . | | 图表 5: 2013-2023 年签体及各业务毛利率 | | 图表 6: 2013-2023 年各业务毛利贡献（亿元）… | | 图表 7: 2013-2023 年公司主要费用率变化 | | 图表 8: 2013-2023 年公司利润水平… | | 图表 9: 公司股权架构（成至 2024年６月 27日） | | 图表 10: 2012-2022 年Ａ 级景区个数 | | 图表 11: 2012-2022 年Ａ线景区收入占国内求游收入比例 | | 图表 12: 2013-2023 年居民人均可支配收入及增速 | | 图表 13: 2015Q1—2023Q2 旅游经济景气指数 | | 图表 14: 2012-2024E ...

证券代码：600138 证券简称：中青旅 编号：临 2024-026 中青旅控股股份有限公司 关于公司副总裁离任的公告 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个别及连带责任。 公司董事会今日收到公司副总裁王新侠女士递交的辞职报告。因工作调整， 王新侠女士向董事会申请辞去公司副总裁职务。辞去副总裁职务后，王新侠女士 将继续在公司任职，担任纪委书记职务。 根据《上海证券交易所股票上市规则》《公司章程》相关规定，王新侠女士 的辞职报告自送达董事会之日起生效。 王新侠女士在担任公司副总裁期间勤勉尽责，公司董事会对王新侠女士在副 总裁任职期间为公司发展所做出的贡献表示衷心感谢。 特此公告。 中青旅控股股份有限公司董事会 二〇二四年六月二十六日 ...

Summary of the Conference Call for Zhongqing Travel Company Overview - The conference call featured Zhongqing Travel, focusing on its recent performance and industry trends in the tourism sector, particularly in hotel and scenic area operations [1][2]. Key Points and Arguments Recovery in Tourism Sector - The tourism sector is experiencing a gradual recovery, with significant growth in April and May compared to the previous year, particularly in areas like Wuzhen and travel agency operations [2][3]. - June has shown a slight seasonal dip due to exams, but there is an overall upward trend in data [2]. Policy Support for Tourism - There has been a notable increase in government support for the tourism industry, highlighted by the National Tourism Conference held on May 17, which was unprecedented in its level of attention from the central government [3][4]. - The conference outlined future directions for the tourism industry, focusing on urban renewal and rural revitalization, which are expected to drive local economic development [6]. Outbound Tourism Insights - The recovery of outbound tourism is progressing well, with improved policies and data indicating a positive trend compared to last year [9][10]. - The company has adjusted its outbound tourism strategy post-pandemic, focusing on thematic products that cater to changing consumer preferences [11][12]. Product and Service Enhancements - Zhongqing Travel is shifting towards offering more complex and thematic travel products, moving away from simple intermediary services to provide unique local experiences [12][14]. - The company aims to enhance its service offerings, including multi-destination products and specialized guides, to meet the evolving demands of travelers [13][14]. Financial Performance and Strategy - The outbound travel segment previously contributed significantly to revenue but faced challenges in profitability due to intense competition and market changes [15][16]. - The company has optimized its workforce during the pandemic, leading to a leaner operational structure, which is expected to improve efficiency and profitability moving forward [17][18]. Hotel and Scenic Area Developments - Wuzhen has seen an increase in room capacity from approximately 2,600 to 3,500, enhancing its ability to accommodate more guests and improve overall guest experience [25][26]. - The focus on conference and exhibition services in Wuzhen is expected to drive higher per capita spending, as these guests typically have higher spending power [28][29]. Challenges in Specific Areas - The ancient town of Gubei is facing challenges in attracting national tourists and converting itself from a regional destination to a nationwide attraction [32][34]. - The competition from outbound tourism is impacting local visitor numbers, leading to a need for strategic adjustments in marketing and product offerings [34]. Cost and Expense Management - The company anticipates an increase in costs due to expanded operations and staff, particularly in Wuzhen, where the workforce has grown significantly [43][44]. - Financial expenses are expected to decrease as loan repayments progress and cash flow improves, positively impacting net profit margins [46][47]. Future Outlook - The company aims for a break-even point in its travel agency operations this year, with a focus on maintaining high-margin products and reducing reliance on low-profit offerings [20][19]. - Capital expenditures are expected to remain cautious, with no significant new investments planned in the near term, focusing instead on optimizing existing resources [39][40]. Additional Important Insights - The competitive landscape for visa services is fragmented, with many players in the market, making it challenging for any single entity to dominate [36][37]. - Zhongqing Travel's brand recognition and service quality are seen as competitive advantages in the crowded travel service market [38][39]. This summary encapsulates the key discussions and insights from the conference call, providing a comprehensive overview of Zhongqing Travel's current status and future direction in the tourism industry.

证券代码：600138 证券简称：中青旅 公告编号：临 2024-025 中青旅控股股份有限公司 关于股东增持公司股份的提示性公告 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个别及连带责任。 重要内容提示： 本次权益变动属于增持，不触及要约收购。 本次增持后，中国光大集团股份公司（下称"光大集团"）直接和间接 合计持有公司股份比例增加至23.19%，本次增持不会使公司控股股东及实际控制 人发生变化。 一、本次权益变动基本情况 （一）本次增持情况 2024年6月5日，中青旅控股股份有限公司(下称"公司")接到控股股东中国 青旅集团有限公司（下称"青旅集团"）之股东光大集团通知，光大集团及全资 子公司自2022年6月18日至2024年6月4日，通过上海证券交易所集中竞价交易累 计增持公司股份7,763,286股，占公司总股本的1.07%（下称"本次增持"）。本 次增持的资金来源为光大集团及全资子公司自有资金。本次增持不会使公司控股 股东及实际控制人发生变化。 本次增持前，光大集团直接、间接合计持有公司 22.12%股份。其中，光大集 团 ...

证券代码：600138 证券简称：中青旅 公告编号：临 2024-024 中青旅控股股份有限公司 为控股子公司提供担保的公告 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个别及连带责任。 重要内容提示: 一、担保情况概述 中青旅控股股份有限公司（以下简称"公司"）于 2024 年 4 月 1 日召开第 九届董事会第五次会议、2024 年 4 月 24 日召开 2023 年年度股东大会，审议通 过了《2024 年度担保计划的议案》，其中，自 2023 年度股东大会至 2024 年度 股东大会期间，公司为北京中青旅创格科技有限公司（以下简称"中青旅创格"） 预计提供不超过 20 亿元额度的银行授信担保。 近日，为满足正常业务发展需要，中青旅创格向北京银行股份有限公司中轴 路支行申请人民币 2.5 亿元额度的银行授信，公司与北京银行股份有限公司中轴 路支行签订了《最高额保证合同》，约定公司为上述银行授信提供担保；中青旅 创格向中国银行股份有限公司北京密云支行申请人民币 2 亿元额度的银行授信， 1 被担保人名称：北京中青旅创格科技有限公司 ...

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price of 12.42 CNY, compared to the current price of 10.57 CNY [2][3]. Core Insights - In 2023, the company achieved a revenue of 9.635 billion CNY, a year-on-year increase of 50.15%. The net profit attributable to shareholders was 194 million CNY, recovering from a loss of 333 million CNY in 2022. The net cash flow from operating activities was 920 million CNY, significantly improving from a negative 312 million CNY in 2022 [2][3]. - For Q1 2024, the company reported a revenue of 1.922 billion CNY, a year-on-year increase of 15.96%, but a net loss of 29 million CNY, which is a larger loss compared to the 24 Q1 loss of 24.2 million CNY [2][3]. - The Wuzhen scenic area has seen a continuous recovery, with revenue reaching 1.784 billion CNY in 2023, recovering to 81.9% of the 2019 level, and a net profit of 284 million CNY. The number of visitors reached 7.721 million, recovering to 84.1% of the 2019 level [2][3]. - The company expects net profits for 2024-2026 to be 360 million CNY, 526 million CNY, and 609 million CNY, with growth rates of 85.3%, 46.2%, and 15.8% respectively [2][3]. Financial Summary - Total revenue for 2023 was 9.635 billion CNY, with a projected revenue of 11.094 billion CNY for 2024, reflecting a growth rate of 15.1% [4]. - The net profit attributable to shareholders for 2023 was 194 million CNY, with projections of 360 million CNY for 2024, indicating a growth rate of 158.2% [4]. - The earnings per share (EPS) for 2023 was 0.27 CNY, expected to rise to 0.50 CNY in 2024 [4].

证券代码：600138 证券简称：中青旅 公告编号：2024-023 中青旅控股股份有限公司 2023 年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利 0.085 元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2024/5/15 | － | 2024/5/16 | 2024/5/16 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 4 月 24 日的 2023 年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2023 年年度 2. 分派对象： 四、 分配实施办法 1. 实施办法 除公司自行发放对象外，公司其他股东的现金红利委托中国结算上海分公司通过其资金 清算系统向股权登记日上海证券交易所收市后登记在册并在上海证券交易所各会员办理了指 定交易的股东派发。已办 ...

中青旅控股股份有限公司 投资者调研会议记录 时间：2024年4月30日 方式：电话调研 接待人：董事会秘书 范思远 出席：中信证券、申万宏源、国信证券、汇丰前海证券等 调研内容纪要： 1.一季度折旧摊销和人工成本等费用提升较快，未来景区收入和成本费用的增 长情况展望？ 乌镇景区2023年五月初堤上酒店开业，折旧摊销增加；由于酒店投产， 原银行借款利息中可以资本化的部分转为财务费用；同时伴随业务恢复、运营 ...