Core Insights - The 20th Central Committee of the Communist Party emphasizes the need to enhance the high-quality development momentum in key regions like the Yangtze River Delta [1] - The recent implementation opinions from the State Council aim to accelerate the cultivation and large-scale application of new scenarios [1] - The promotion conference for Suzhou Kunshan's integration into the Yangtze River Delta cooperation development highlights Kunshan's strategic positioning and commitment to national strategies [1] Group 1 - Kunshan has benefited from the industrial, talent, and capital spillover from Shanghai, leading to stable economic growth and transformation [1] - The city plans to further open up scenarios to promote industrial integration, innovation collaboration, and urban living [1] - Kunshan aims to create an attractive innovation ecosystem, a favorable business environment, and a comfortable urban quality of life [1] Group 2 - The promotion conference introduced over 300 cooperation scenarios across various sectors including industrial innovation, transportation logistics, financial investment, modern culture and tourism, education and healthcare, and social governance [2] - The "Action Plan for High-Quality Integration of Kunshan into the Yangtze River Delta" was released, detailing 22 specific measures across six major areas [2] - Strategic cooperation agreements were signed with major organizations, including Shanghai Port Group and China Telecom Jiangsu, covering 28 cooperative projects [2] Group 3 - The event showcased Kunshan's emerging industrial system, service brand, urban renewal projects, and comprehensive transportation initiatives [2] - The city highlighted its strong industrial foundation, complete industrial chain, solid ecological base, favorable business environment, and rich cultural tourism resources [2]

证券代码：600576 证券简称：祥源文旅 公告编号：临 2025-058 浙江祥源文旅股份有限公司 关于股东回馈活动的自愿性信息披露公告 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。 为建立长效、多样的股东回报机制，感谢广大股东长期以来对浙江祥源文旅 股份有限公司（以下简称"公司"或"祥源文旅"）的关心和支持，同时让股东 更好地了解公司和体验公司旅游产品及服务，提高投资者对公司内在价值的理解 与认识，公司将开展"祥源文旅 2025 年股东回馈"活动，具体方案如下： 一、活动时间 本次活动时间：2025 年 11 月 13 日 8:00 至 2025 年 12 月 31 日 24:00。 二、参加活动股东范围 2025 年 11 月 6 日（星期四）下午 15:00 交易结束后，当天在中国证券结算 有限责任公司上海分公司登记在册的持有公司股份的股东，即公司 2025 年第四 次临时股东大会的股权登记日当日在册股东。 注：个人股东限本人；法人股东限指定不超过 5 名（含 5 名）代表。 三、活动内容 （一）回馈政策 为回馈长期 ...

证券代码：600576 证券简称：祥源文旅 公告编号：临 2025-057 浙江祥源文旅股份有限公司 2025年第四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。 (二)股东大会召开的地点：杭州市密渡桥路 1 号白马大厦 12 楼祥源文旅会议室 (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： 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 11 月 12 日 | 1、出席会议的股东和代理人人数 | 385 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 653,667,406 | | 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（%） | 61.9855 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，董事长王衡先生主持，大会的召集、召开及表决方 式符合《公司法》等法律、法规和《公司章程》的有关 ...

浙江六和律师事务所 关于浙江祥源文旅股份有限公司 2025 年第四次临时股东大会的法律意见书 浙六和法意（2025）第 2066 号 致:浙江祥源文旅股份有限公司 根据《中华人民共和国证券法》（下称"《证券法》"）《中华人民共和国公 司法》（下称"《公司法》"）和中国证券监督管理委员会《上市公司股东大会规 则》等法律、法规和规范性文件的要求及《浙江祥源文旅股份有限公司章程》（下 称"《公司章程》"）的规定，浙江六和律师事务所（下称"本所"）接受浙江祥源 文旅股份有限公司（下称"祥源文旅"或"公司"）的委托，指派叶永祥律师、蒋贇 律师参加祥源文旅 2025 年第四次临时股东大会，对本次股东大会的召集和召开 程序、出席会议人员资格、表决方式、表决程序的合法性、有效性进行了认真审 查，并出具本法律意见书。 本法律意见书仅供祥源文旅 2025 年第四次临时股东大会之目的使用。本所 律师同意将本法律意见书随祥源文旅本次股东大会其他信息披露资料一并公告。 本所律师根据相关法律法规的要求，按照律师行业公认的业务标准、道德规 范和勤勉尽责的精神，出席了祥源文旅 2025 年第四次临时股东大会，对祥源文 旅本次股东大会所涉及的 ...

Core Viewpoint - Xiangyuan Cultural Tourism (600576) announced a shareholder reward activity aimed at enhancing shareholder engagement and loyalty through various benefits [1] Group 1: Shareholder Reward Activity - The activity will take place from November 13, 8:00 AM to December 31, 24:00 [1] - Eligible shareholders are those registered with the China Securities Depository and Clearing Corporation in Shanghai as of November 6, 3:00 PM [1] - Reward policies include free access to scenic area attractions such as elevators, cable cars, and boats, as well as a "buy one, get one free" offer for specified hotel room types [1]

Core Viewpoint - Xiangyuan Cultural Tourism (600576.SH) announced a shareholder reward program to express gratitude for shareholder support, scheduled from November 13 to December 31, 2025 [1] Group 1: Shareholder Reward Program - The reward program includes free access to attractions such as observation elevators, cable cars, and boats within the scenic area [1] - There is a promotional offer for hotel stays, where booking one designated room allows for a second room free of charge [1] - Shareholders can participate by verifying their identity through a WeChat mini-program to claim their benefits [1] Group 2: Program Terms - The company retains the right to interpret the activity, which does not constitute profit distribution [1] - Shareholders who do not participate or fail to successfully participate will not have any other rights [1]

Core Viewpoint - The tourism and scenic area sector experienced a decline of 0.28% on November 12, with Lingnan Holdings leading the drop. The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1]. Group 1: Market Performance - The tourism and scenic area sector saw a mixed performance among individual stocks, with notable gainers including Xiangyuan Cultural Tourism, which rose by 3.58% to close at 7.81, and Caesar Travel, which increased by 2.44% to 7.56 [1]. - Lingnan Holdings led the decline with a drop of 3.05%, closing at 12.39 [2]. - The overall trading volume for the tourism and scenic area sector was significant, with Caesar Travel recording a trading volume of 210.98 million shares and a transaction value of 1.612 billion [1]. Group 2: Capital Flow - The sector experienced a net outflow of 52.65 million from institutional investors and 71.76 million from speculative funds, while retail investors saw a net inflow of 124 million [2]. - Key stocks such as Caesar Travel and Xiangyuan Cultural Tourism had varying capital flows, with Caesar Travel seeing a net inflow of 81.60 million from institutional investors, while Xiangyuan Cultural Tourism had a net outflow of 7.78 million from speculative funds [3]. - The overall sentiment in the sector indicates a cautious approach from institutional and speculative investors, contrasted by a more favorable reception from retail investors [2][3].

证券代码：600576 证券简称：祥源文旅 公告编号：临 2025-056 浙江祥源文旅股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 投资者可于 2025 年 11 月 12 日至 11 月 18 日 16:00 前登录上证路演中心网站 首页点击"提问预征集"栏目或通过浙江祥源文旅股份有限公司（以下简称"公 司"）邮箱（irm@600576.com）进行提问。公司将在说明会上对投资者普遍关注 的问题进行回答。 公司已于 2025 年 10 月 25 日在《中国证券报》《上海证券报》《证券时报》 《证券日报》及上海证券交易所网站(https://www.sse.com.cn)披露《2025 年 第三季度报告》，为便于广大投资者更全面、深入地了解公司情况，公司决定于 2025 年 11 月 19 日上午 11:00-12:00 举行 2025 年第三季度业绩说明会，就投资 者关心的问题进行交流。 本次业绩说明会以网络互动形式召开，公司将针对 2025 ...

Market Overview - The tourism and scenic spots sector increased by 2.42% compared to the previous trading day, with Sanxia Tourism leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Top Performing Stocks - The top ten stocks in the tourism and scenic spots sector showed significant gains, with Sanxia Tourism (002627) closing at 6.47, up 5.20% with a trading volume of 367,000 shares and a turnover of 233 million [1] - Other notable performers included Dalian Shengya (600593) with a 4.88% increase, closing at 50.76, and *ST Zhanggu (000430) with a 4.63% increase, closing at 8.82 [1] Fund Flow Analysis - The tourism and scenic spots sector experienced a net inflow of 53.35 million from main funds, while retail funds saw a net outflow of 55.04 million [1] - Retail investors contributed a net inflow of 1.69 million, indicating mixed sentiment among different investor types [1] Individual Stock Fund Flow - Songcheng Performing Arts (300144) had a significant net outflow of 33.45 million from main funds, while Jiuhua Tourism (603199) saw a net inflow of 33.34 million [2] - Sanxia Tourism (002627) recorded a net inflow of 22.16 million from main funds, despite a net outflow of 9.41 million from retail investors [2]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The low-altitude economy is experiencing significant growth, with multiple orders signed at the China International Import Expo, indicating strong market demand and potential for future expansion [17][19] - Strategic collaborations, such as the partnership between Shenzhou Car Rental and Volant, are enhancing the integration of ground and air transportation services, which is expected to improve operational efficiency and customer experience [23] - The establishment of manufacturing bases and headquarters in Shanghai by companies like Shizhi Technology is expected to drive the development of the advanced manufacturing industry in the Yangtze River Delta region [25] Summary by Sections 1. Weekly Sector Review - The average weekly change for the low-altitude economy sector was +0.3%, with Wanzhe Co. leading the gains at +30.3% [4][10] - The top five gainers included Wanzhe Co. (+30.3%), Keli Co. (+17.5%), and Yunlu Co. (+16.1%), while the top five losers included Hangxin Technology (-17.2%) and Lingnan Holdings (-10.6%) [10][12] 2. Industry Dynamics - Shenzhou Car Rental and Volant signed a strategic cooperation agreement to develop a "ground + air" commuting solution, marking a significant step in the integration of transportation services [23] - On November 8, Jinan signed contracts for eight low-altitude economic projects, including the AS700 manned airship delivery center, which will support low-altitude tourism and emergency command scenarios [24] 3. Individual Company Developments - Shizhi Technology announced the establishment of its headquarters and manufacturing base in Shanghai, securing a 700 million yuan credit line and signing a procurement agreement for 100 eVTOLs [25] - Volant signed agreements for 95 eVTOLs at the Import Expo, totaling 2.375 billion yuan, and secured a high-level commercial passenger eVTOL order [26] - Yufeng Future showcased its upgraded passenger eVTOL product and signed intention orders for 200 eVTOLs, exceeding 2 billion yuan in total [27]