[Xi'an Qujiang Cultural Tourism Co., Ltd. 2025 H1 Earnings Forecast](index=1&type=section&id=Xi'an%20Qujiang%20Cultural%20Tourism%20Co.,%20Ltd.%202025%20H1%20Earnings%20Forecast) [Performance Overview and Year-over-Year Comparison](index=1&type=section&id=I.%20Current%20Period%20Earnings%20Forecast%20%26%20II.%20Prior%20Year%20Period%20Performance%20and%20Financial%20Condition) The company projects a significantly narrowed net loss for H1 2025 compared to the prior year period Performance Forecast vs. Prior Year Period | Metric | H1 2025 (Forecast) | H1 2024 (Prior Year Period) | | :--- | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders (RMB Million) | -13.00 ~ -16.90 | -187.01 | | Net Profit Attributable to Parent Company Shareholders (Excl. Non-recurring Items) (RMB Million) | -69.00 ~ -72.90 | -188.58 | | Earnings Per Share (RMB) | Not Disclosed | -0.73 | - The earnings forecast data has not been audited by a certified public accountant[3](index=3&type=chunk) [Analysis of Performance Fluctuation](index=1&type=section&id=III.%20Main%20Reasons%20for%20the%20Current%20Period's%20Projected%20Loss) The improved performance is driven by a major reversal of impairment provisions, which offsets ongoing operating losses - Core Business Impact: **Operating losses** are mainly caused by product and market growth lagging behind the pace of fixed cost reductions[4](index=4&type=chunk) - Non-operating Items Impact: A **significant positive impact on net profit** resulted from the reversal of impairment provisions on receivables following the receipt of large collections during the reporting period[5](index=5&type=chunk) [Risk Warnings and Other Matters](index=2&type=section&id=IV.%20Risk%20Warnings%20%26%20V.%20Other%20Explanatory%20Notes) The company clarifies this forecast is preliminary and unaudited, with final figures pending the official report - The company emphasizes this earnings forecast is **unaudited** and is not aware of other material uncertainties that could affect its accuracy[6](index=6&type=chunk) - The company advises that this forecast is based on **preliminary calculations** and investors should refer to the official semi-annual report for final figures[7](index=7&type=chunk)

Core Viewpoint - Qujiang Cultural Tourism (600706) expects a net profit attributable to the parent company of approximately -13 million to -16.9 million yuan for the first half of 2025, indicating a challenging financial outlook for the company [1] Financial Performance - The company anticipates a net profit attributable to the parent company, excluding non-recurring gains and losses, of approximately -69 million to -72.9 million yuan for the first half of 2025 [1] - The projected losses reflect a significant decline in profitability compared to previous periods, highlighting ongoing financial difficulties [1] Business Strategy - In the first half of 2025, the company is actively promoting product and market growth plans [1] - However, the growth in products and markets is lower than the reduction in fixed costs, indicating potential inefficiencies in the company's operational strategy [1]

Group 1 - Aishuo Co., Ltd. expects a net loss of 170 million to 280 million yuan for the first half of 2025, with a net loss of 410 million to 520 million yuan after excluding non-recurring gains and losses [1] - Changcheng Military Industry anticipates a net loss of 25 million to 29.5 million yuan for the first half of 2025, with a net loss of 35 million to 41 million yuan after excluding non-recurring gains and losses [1] - Changyuan Donggu expects a net profit of 155 million to 180 million yuan for the first half of 2025, representing a year-on-year increase of 62.65% to 88.88% [1] Group 2 - Beifang Navigation forecasts a net profit of 105 million to 120 million yuan for the first half of 2025, turning around from a loss of 74.2168 million yuan in the same period last year [3] - Xizi Clean Energy expects a net profit of 130 million to 180 million yuan for the first half of 2025, a decrease of 47.40% to 62.01% compared to the same period last year [4] - Tianbao Infrastructure anticipates a net profit of 90 million to 130 million yuan for the first half of 2025, representing a year-on-year increase of 1581.80% to 2329.27% [4] Group 3 - Taiping Bird expects a net profit of approximately 77.7 million yuan for the first half of 2025, a decrease of about 55% compared to the same period last year [6] - Xibu Chuangye forecasts a net profit of approximately 295 million yuan for the first half of 2025, an increase of 88.99% compared to the same period last year [8] - Zhengbang Technology expects a net profit of 190 million to 210 million yuan for the first half of 2025, a year-on-year increase of 249.03% to 264.72% [9] Group 4 - Songzhi Co., Ltd. anticipates a net profit of 140 million to 170 million yuan for the first half of 2025, representing a year-on-year increase of 53.58% to 86.49% [10] - Hailide expects a net profit of 280 million to 310 million yuan for the first half of 2025, a year-on-year increase of 47.65% to 63.47% [12] - Chenhua Co., Ltd. forecasts a net profit of 48.8176 million to 56.6284 million yuan for the first half of 2025, a year-on-year increase of 25% to 45% [13] Group 5 - Yuanlin Co., Ltd. expects a net loss of 68 million to 92 million yuan for the first half of 2025, with a net loss of 70 million to 95 million yuan after excluding non-recurring gains and losses [14] - Chuanhua Zhili anticipates a net profit of 500 million to 550 million yuan for the first half of 2025, representing a year-on-year increase of 72.78% to 90.06% [15] - Longyuan Technology expects a net profit of 26 million to 31 million yuan for the first half of 2025, a year-on-year increase of 116.61% to 158.26% [17] Group 6 - Jiangshan Co., Ltd. forecasts a net profit of 300 million to 360 million yuan for the first half of 2025, a year-on-year increase of 75.65% to 110.78% [32] - Ganli Pharmaceutical expects a net profit of 600 million to 640 million yuan for the first half of 2025, a year-on-year increase of 100.73% to 114.12% [33] - Zhongyan Chemical's subsidiary signed a 6.809 billion yuan mining rights transfer contract [35]

Group 1 - The transportation industry is defined as a production sector that utilizes various transportation tools to facilitate the movement of passengers and goods along specific routes [1] - The main transportation tools include air transport, railways, highways, waterways, and pipelines [1] Group 2 - From 2015 to 2022, the passenger transport volume by road in China showed a declining trend, with a significant drop to 5.587 billion passengers in 2022. However, it is expected to rise to 11.781 billion passengers by 2024, reflecting a year-on-year growth of 7.0% [2] - The railway passenger transport volume in China experienced a steady increase from 2009 to 2019, but fell sharply to 2.2 billion passengers in 2020 due to the pandemic, a decrease of 39.9%. It is projected to recover to 4.31 billion passengers by 2024, with a year-on-year increase of 11.9% [6] - The civil aviation passenger transport turnover in China grew annually from 2015 to 2019, reaching 11,705.1 billion passenger-kilometers in 2019, an increase of 9.3%. However, it plummeted to 3,913.9 billion passenger-kilometers in 2022, a decline of 66.6% compared to 2019. By 2024, it is expected to reach 12,915.0 billion passenger-kilometers, showing a year-on-year growth of 25.3% [8] - The waterway passenger transport volume in China has shown fluctuations in recent years, with a significant decline following the COVID-19 pandemic. In 2021, the volume was 16 million passengers, dropping to 11.6 million passengers in 2022. It is anticipated to recover to 25.8 million passengers in 2023, with stability expected in 2024 [9]

Core Viewpoint - The article summarizes important announcements from various listed companies in the Shanghai and Shenzhen stock markets, providing insights for investors regarding operational updates, stock performance, and significant corporate actions. Group 1: Company Announcements - Huaguang Huaneng's stock has experienced five consecutive trading limit increases, with a trading volume of 29.41% over the last five days, indicating potential irrational speculation, although the company's fundamentals remain stable [3]. - Andeli's actual controller Wang An transferred 90% of the shares of BVI Ping An to his daughter Wang Meng, but this transfer does not affect the company's governance structure or control [5]. - Singshan Co. received a court notice regarding the judicial disposal of 4.26 million shares, accounting for 0.19% of the total share capital, but this is not expected to impact daily operations [6]. - Three Gorges Energy reported a total power generation of 39.314 billion kWh in the first half of 2025, an increase of 8.85% year-on-year [7]. - New Zhonggang's stock has seen four consecutive trading limits, with no significant media reports or market rumors affecting its price [8]. - ST Yazhen's stock was suspended for one trading day due to a tender offer by its controlling shareholder, with a total of 55.1779 million shares involved [9]. - Zhongli Co. plans to invest 478 million yuan in a smart logistics equipment project [11]. - Zhuoran Co. approved the sale of 95% equity in a subsidiary for 723 million yuan, which does not constitute a related party transaction [12]. - Jerry Co. received a project award for a natural gas booster station worth approximately 850 million USD [13]. - Qujiang Cultural Tourism plans to publicly transfer 38% equity in a subsidiary valued at approximately 22.98 million yuan [14]. - Foshan Technology intends to publicly transfer 100% equity of a subsidiary with a starting price of 180 million yuan [15]. Group 2: Performance Forecasts - Xianda Co. expects a net profit increase of 2443.43% to 2834.73% in the first half of 2025, driven by rising product prices and improved cost control [25]. - Muyuan Co. anticipates a net profit of 10.5 billion to 11 billion yuan, reflecting a year-on-year growth of 924.6% to 973.39% due to increased pig sales and lower costs [26]. - Jiangshan Co. forecasts a net profit increase of 75.65% to 110.78% in the first half of 2025, supported by product optimization and cost control [28]. - Chenguang Bio's net profit is expected to rise by 102.33% to 132.38%, primarily due to improved market conditions for its cottonseed business [29]. - Xinlian Electronics predicts a net profit of 166 million to 198 million yuan, marking a turnaround from a loss in the previous year [30]. - Wohua Pharmaceutical expects a net profit increase of 233.89% to 378.27% due to market adaptation and cost control measures [31]. - Yonghe Co. anticipates a net profit increase of 126.30% to 148.49% driven by rising refrigerant prices [32]. - Shanghai Pharmaceuticals expects a net profit increase of approximately 52% due to the acquisition of a stake in a subsidiary [34]. - AVIC Heavy Machinery forecasts a net profit decline of about 33.29% due to falling product prices [35]. - Jingneng Real Estate expects a net loss of 190 million to 210 million yuan in the first half of 2025 due to reduced scale and increased expenses [36]. Group 3: Major Contracts - Fengfan Co. won a bid for a project worth approximately 337 million yuan from the Southern Power Grid [37]. - Longjian Co. was part of a consortium that won a project bid worth 362 million yuan for infrastructure construction [38].

Group 1: Company Performance - Northern Rare Earth expects a net profit of 900 million to 960 million yuan for the first half of 2025, representing a year-on-year increase of 1882.54% to 2014.71% [1] - Muyuan Foods anticipates a net profit of 10.5 billion to 11 billion yuan for the first half of 2025, reflecting a year-on-year growth of 924.6% to 973.39% [2] - Hongta Securities projects a net profit of 651 million to 696 million yuan for the first half of 2025, indicating a year-on-year increase of 45% to 55% [3] Group 2: Business Developments - Dazhihui clarifies that it has not engaged in businesses related to "stablecoins," "virtual asset trading," or "cross-border payments," following a significant stock price fluctuation [4] - Bluetech announces a share transfer agreement where its actual controller will change, with the Ma'anshan Municipal Government becoming the actual controller after the transfer of 18% of shares [5] Group 3: Industry Trends - Jiangsu Electric Power reports a 5.01% year-on-year increase in electricity generation for the first half of 2025 [6] - Jin'an Guoji anticipates a non-recurring net profit growth of 4700% to 6300% for the first half of 2025 [6] - New Beiyang expects a non-recurring net profit growth of 650% to 720% for the first half of 2025 [6]

证券代码：600706 证券简称：曲江文旅 编号：临 2025-035 西安曲江文化旅游股份有限公司 关于公开挂牌转让温州雁荡山曲文旅游发展有限公司 38%股权的公告 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： ● 为推进实施公司发展战略规划，优化资源配置，提高资产运营效率，公司 拟在产权交易中心公开挂牌转让雁荡山公司 38%股权。根据嘉瑞国际资产评估有限 公司出具的《西安曲江文化旅游股份有限公司拟转让 38%股权项目涉及持有的温州 雁荡山曲文旅游发展有限公司股东全部权益价值资产评估报告》（嘉瑞评报字 （2025）第 0061 号），以 2024 年 12 月 31 日为评估基准日，雁荡山公司全部权益 价值为 6,047.68 万元。公司采用公开挂牌出让方式，即受让方收购公司持有的雁 荡山公司 38%股权，股权价值为 2,298.12 万元。 ● 本次交易采取公开挂牌方式进行，交易对方等相关事项尚未确定，目前无 法判断是否构成关联交易，交易存在不确定性，敬请广大投资者注意投资风险。 权交易中心公开挂牌转让雁 ...

本资产评估报告依据中国资产评估准则编制 嘉瑞评报字（2025）第 0061 号 嘉瑞国际资产评估有限公司 2025 年 4 月 10 日 | 报告编码: | 1111090007202500094 | | --- | --- | | 合同编号: | P20250046 | | 报告类型: | 法定评估业务资产评估报告 | | 报告文号: | 嘉瑞评报字(2025)第0061号 | | 报告名称: | 西安曲江文化旅游股份有限公司拟转让38%股权项目涉及持有的温 州雁荡山曲文旅游发展有限公司股东全部权益价值资产评估报告 | | 评估结论: | 60,476,834.24元 | | 评估报告日 : | 2025年04月10日 | | 评估机构名称: | 嘉瑞国际资产评估有限公司 | | 签名人员: | (资产评估师) 正式会员 编号:61200060 秦皓 | | | 杨斌 (资产评估师) 正式会员 编号:61040054 | | | 秦皓、杨斌已实名认可 | | | (可+++++++++++++++++++++ | 西安曲江文化旅游股份有限公司 拟转让 38%股权项目涉及持有的温州雁荡山曲 文旅游发展有限公司 ...

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Group 1: A-Level Tourist Attractions - The number of A-level tourist attractions in China is projected to increase annually, reaching 16,541 by the end of 2024, an increase of 820 from 2023 [1] - The number of directly employed personnel in A-level tourist attractions is expected to rise to 1.653 million by the end of 2024, an increase of 46,000 from 2023 [2] - The total number of visitors to A-level tourist attractions is anticipated to reach 6.76 billion in 2024, an increase of 1.01 billion from 2023 [4] - The total revenue generated by A-level tourist attractions is projected to be 481.42 billion yuan in 2024, an increase of 74.55 billion yuan from 2023 [5] Group 2: National Night Culture and Tourism Consumption Aggregation Areas - From 2021 to 2024, the Ministry of Culture and Tourism has announced three batches of national-level night culture and tourism consumption aggregation areas, totaling 345 [8] - The provinces with the highest number of selected areas include Shanghai, Jiangsu, Shandong, and Sichuan, each with 16 [10] - Other notable provinces include Zhejiang, Fujian, Guangdong, and Guangxi with 15 each, and Beijing, Jiangxi, Hunan, and Yunnan with 14 each [10]