Core Insights - The marine park industry is facing significant challenges, including declining visitor numbers and increasing operational costs, leading to closures and financial distress among facilities [1][6][15] - The shift in consumer preferences towards animal welfare and the impending ban on marine mammal performances in France has accelerated the crisis [1][4][6] - The industry has seen a trend of diversifying revenue streams, with some facilities offering alternative entertainment options and events to attract visitors [10][12][19] Industry Overview - The closure of the "Marine World" in France highlights the broader crisis in the marine park sector, with visitor numbers dropping from 1.2 million to 425,000 over the past decade [1][31] - In China, major marine parks like Dalian Shengya and Haichang Ocean Park have also faced financial difficulties, leading to low-cost ownership transfers [1][14] - The operational costs of maintaining marine mammals, such as white whales, are substantial, with expenses for water treatment and feeding being significant contributors to financial strain [8][9][10] Financial Dynamics - The financial model of many marine parks is under pressure, with reports indicating that some facilities are unable to cover basic animal care costs due to high operational expenses [34][36] - The trend of leasing marine mammals has increased, reflecting a shift in how facilities manage their animal populations amid financial constraints [32][34] - The industry has seen a rise in "three-no" aquariums, which lack proper technology, funding, and design, leading to high mortality rates among marine life [28][34] Consumer Behavior - Visitor demographics are changing, with many attendees seeking educational experiences rather than traditional animal performances, indicating a shift in consumer expectations [19][22] - The introduction of interactive exhibits and educational programs is becoming essential for attracting visitors and enhancing the educational value of marine parks [36][41] - The reliance on animal performances for revenue is being challenged, as public sentiment increasingly favors animal welfare and ethical treatment [23][31] Future Outlook - The marine park industry may need to transition towards a model focused on conservation and education, similar to successful international examples [36][39] - There is potential for marine parks to evolve into unique, specialized attractions that emphasize local marine biodiversity and conservation efforts [38][39] - The industry faces a critical juncture where leadership and operational strategies must adapt to changing market conditions and consumer expectations to ensure sustainability [41]

（文章来源：证券日报） 证券日报网讯 9月24日晚间，大连圣亚发布公告称，公司于2025年7月26日召开第九届六次董事会会 议、第九届五次监事会会议，审议通过了《关于公司2025年度向特定对象发行A股股票方案的议案》等 相关议案，及《关于及其摘要的议案》等相关议案，具体内容详见2025年7月29日披露于指定信息披露 媒体的相关文件。2025年9月24日，公司收到大连星海湾金融商务区投资管理股份有限公司转发的大连 市人民政府国有资产监督管理委员会（简称"大连市国资委"）《关于大连圣亚旅游控股股份有限公司发 行股票引入产业投资人相关事项的批复》（大国资改革[2025]231号）及《关于大连圣亚旅游控股股份 有限公司股权激励相关事项的批复》（大国资改革[2025]237号），大连市国资委原则同意公司向特定 对象发行A股股票的方案及公司2025年限制性股票激励计划（草案）。 ...

证券代码：600593 证券简称：大连圣亚 公告编号：2025-053 大连圣亚旅游控股股份有限公司 关于2025年向特定对象发行股票事项及2025年限制性股票激励计划 事项获得大连市国资委批复的公告 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。 2025 年 9 月 25 日 2025 年 9 月 24 日，公司收到大连星海湾金融商务区投资管理股份有限公司 转发的大连市人民政府国有资产监督管理委员会（以下简称"大连市国资委"） 《关于大连圣亚旅游控股股份有限公司发行股票引入产业投资人相关事项的批 复》（大国资改革[2025]231 号）及《关于大连圣亚旅游控股股份有限公司股权 激励相关事项的批复》（大国资改革[2025]237 号），大连市国资委原则同意公 司向特定对象发行 A 股股票的方案及公司 2025 年限制性股票激励计划（草案）。 公司2025年向特定对象发行股票事项及2025年限制性股票激励计划事项尚 需提交公司股东会审议通过，同时，本次向特定对象发行股票事项还需上海证券 交易所审核通过和中国证券监督管理委员会同 ...

Core Points - Dalian Shengya announced that the Dalian State-owned Assets Supervision and Administration Commission has preliminarily agreed to the company's plan to issue A-shares to specific targets and the 2025 restricted stock incentive plan [1] - The issuance of shares and the incentive plan are subject to approval by the company's shareholders' meeting, as well as review by the Shanghai Stock Exchange and approval from the China Securities Regulatory Commission [1] - The final number of shares issued and the amount of funds raised will be determined based on the approval from the China Securities Regulatory Commission [1]

Core Viewpoint - Dalian Shengya Tourism Holdings Co., Ltd. has approved the "2025 Restricted Stock Incentive Plan (Draft)" and its summary during the board and supervisory meetings held on July 26, 2025, and has publicly disclosed the list of initial incentive recipients [1][7]. Disclosure Situation - The company published the list of initial incentive recipients on August 19, 2025, through internal bulletin boards and the OA system, with the public disclosure period lasting until August 28, 2025 [1][7]. Verification Situation - The supervisory board verified the list of initial incentive recipients, including their identification documents, employment contracts with the company and its subsidiaries, and their positions within the company [3][9]. Verification Opinions - The supervisory board confirmed that the individuals listed as initial incentive recipients meet the qualifications and conditions set forth in relevant laws and regulations, including the Company Law and the Securities Law [4][10]. - None of the initial incentive recipients fall under the disqualifications outlined in Article 8 of the Management Measures, such as being deemed inappropriate candidates by the stock exchange or the China Securities Regulatory Commission (CSRC) within the last 12 months [5][11]. - The initial incentive recipients are all directors, senior management, middle management, and key employees of the company and its subsidiaries, excluding independent directors, supervisors, and shareholders holding more than 5% of the company's shares [6][12]. - The basic information regarding the initial incentive recipients is accurate, with no falsehoods or significant omissions [6][12].

大连圣亚旅游控股股份有限公司监事会 关于 2025 年限制性股票激励计划首次授予激励对象名单的 公示情况说明及核查意见 大连圣亚旅游控股股份有限公司（以下简称"公司"）于 2025 年 7 月 26 日 召开第九届六次董事会会议、第九届五次监事会会议，审议通过《关于<公司 2025 年限制性股票激励计划（草案）>及其摘要的议案》等相关议案。根据《上市公 司股权激励管理办法》（以下简称"《管理办法》"）的规定，公司对《公司 2025 年限制性股票激励计划（草案）》（以下简称"《激励计划》"）首次授予激励对象 的姓名和职务在公司内部进行了公示。公司监事会结合公示情况对《激励计划》 首次授予激励对象名单进行了核查，公示情况及核查意见如下： 一、公示情况 公司于 2025 年 8 月 19 日通过内部公示栏及 OA 系统同步发布了《大连圣亚 旅游控股股份有限公司 2025 年限制性股票激励计划激励对象名单的公示》，对 《激励计划》首次授予激励对象姓名和职务予以公示，公示时间自 2025 年 8 月 19 日起至 2025 年 8 月 28 日止。 截至公示期满，公司监事会未收到与《激励计划》首次授予激励对象有关的 异 ...

大连圣亚旅游控股股份有限公司 董事会薪酬与考核委员会关于 2025 年限制性股票激励计划首次授予 激励对象名单的公示情况说明及核查意见 大连圣亚旅游控股股份有限公司（以下简称"公司"）于 2025 年 7 月 26 日 召开第九届六次董事会会议、第九届五次监事会会议，审议通过《关于<公司 2025 年限制性股票激励计划（草案）>及其摘要的议案》等相关议案。根据《上市公 司股权激励管理办法》（以下简称"《管理办法》"）的规定，公司对《公司 2025 年限制性股票激励计划（草案）》（以下简称"《激励计划》"）首次授予激励对象 的姓名和职务在公司内部进行了公示。公司董事会薪酬与考核委员会结合公示情 况对《激励计划》首次授予激励对象名单进行了核查，公示情况及核查意见如下： 一、公示情况 公司于 2025 年 8 月 19 日通过内部公示栏及 OA 系统同步发布了《大连圣亚 旅游控股股份有限公司 2025 年限制性股票激励计划激励对象名单的公示》，对 《激励计划》首次授予激励对象姓名和职务予以公示，公示时间自 2025 年 8 月 19 日起至 2025 年 8 月 28 日止。 截至公示期满，公司董事会薪酬与考核委员 ...

Group 1 - The core viewpoint is that the travel demand is expected to increase significantly during the 2025 National Day and Mid-Autumn Festival holiday, with a search volume increase of over 20% year-on-year [1] - Flight bookings for both domestic and international routes show a notable recovery, with domestic flight bookings exceeding 3.26 million per day, up 26% year-on-year, and international bookings exceeding 1.16 million, up 15% [2] - High-quality hotel bookings are experiencing a surge, with a year-on-year increase of 58% for popular hotels and over 20% for high-quality hotels during the holiday period [3] Group 2 - The outbound travel market is benefiting from visa-free policies, with significant increases in travel to South Korea, the Middle East, and Africa, with outbound travel numbers up 130% year-on-year [4] - Investment recommendations include focusing on OTA sectors such as Tongcheng Travel and Trip.com Group, as well as companies in the ice and snow industry like Changbai Mountain and Dalian Shengya, and tourism retail companies like China Duty Free Group and Wangfujing [5]

Core Insights - The tourism and scenic spots sector experienced a rise of 2.37% on September 18, with Yunnan Tourism leading the gains [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Sector Performance - Yunnan Tourism (002059) saw a closing price of 6.68, with a significant increase of 10.05% and a trading volume of 1.1964 million shares, amounting to a transaction value of 765 million [1] - Qujiang Cultural Tourism (600706) also performed well, closing at 11.87 with a rise of 10.01% and a trading volume of 547,300 shares, resulting in a transaction value of 630 million [1] - Other notable performers included Tibet Tourism (600749) with a 7.06% increase, closing at 23.96, and Xi'an Tourism (000610) with a 6.69% increase, closing at 15.00 [1] Capital Flow - The tourism and scenic spots sector saw a net inflow of 232 million in main funds, while retail investors experienced a net outflow of 216 million [2][3] - The main funds' net inflow for Qujiang Cultural Tourism was 126 million, while it faced a net outflow of 48.38 million from speculative funds [3] - Tibet Tourism had a net inflow of 82.42 million from main funds, with a net outflow of 33.97 million from speculative funds [3]

Group 1 - The upcoming National Day and Mid-Autumn Festival holidays are driving an increase in certain tourism-related stocks in the A-share market [1] - Xi'an Tourism stock has risen over 6%, while Dalian Shengya has increased nearly 4% [1] - Other companies such as Lijiang Co., Lingnan Holdings, and Guilin Tourism have also seen their stocks rise by over 2% [1]