Core Insights - The tourism and scenic spots sector increased by 0.57% on October 27, with Dalian Shengya leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Sector Performance - Dalian Shengya (600593) closed at 49.80, up 6.68% with a trading volume of 172,100 shares and a transaction value of 843 million [1] - Other notable performers include: - Tibet Tourism (600749) at 18.58, up 1.75% [1] - Peijiang Co. (002033) at 8.72, up 1.40% [1] - Lingnan Holdings (000524) at 13.81, up 0.95% [1] - Caesar's Rotating Industry (000796) at 6.14, up 0.82% [1] Capital Flow - The tourism and scenic spots sector experienced a net outflow of 77.52 million from institutional investors, while retail investors saw a net inflow of 187 million [2] - Key individual stock capital flows include: - Dalian Shengya with a net inflow of 65.19 million from institutional investors [3] - Caesar's Rotating Industry with a net inflow of 35.32 million from institutional investors [3] - Jiuhua Tourism (661809) with a net inflow of 8.69 million from institutional investors [3]

Core Insights - The 2025 "Top Listed Companies Reputation List" has entered a critical phase of data model screening, aiming to identify publicly listed companies with long-term growth value through multi-dimensional data analysis [1] - The collaboration with Tonghuashun, a leading financial data company, has been established to enhance the selection process, which was previously initiated in 2024 [1][4] - The performance of last year's listed companies has validated the effectiveness of the data model used in the selection process [4] Group 1: Market Performance - Over a hundred A-share companies that were on last year's list have outperformed the "Double Innovation Index" in terms of stock price growth this year [2] - The highest stock price increases among these companies include Zhejiang Rongtai at 430.84%, New Yi Sheng at 387.74%, and Giant Network at 283.15% [2] - The overall A-share market has shown a robust upward trend, driven by macroeconomic recovery and improved corporate earnings [2] Group 2: Industry Trends - The 2025 list has introduced new industry categories, including artificial intelligence, overseas industries, aerospace, and innovative pharmaceuticals, reflecting the current economic transformation in China [4][5] - Companies like Giant Network and New Yi Sheng are positioned well in the AI and global markets, with New Yi Sheng achieving 79% of its revenue from overseas [4][5] - The focus on traditional consumption sectors remains, as they are crucial for economic growth despite facing pressure this year [5] Group 3: Future Outlook - The "14th Five-Year Plan" emphasizes expanding domestic demand and enhancing consumption, which is vital for stabilizing the economy [6] - The ongoing data screening phase aims to identify companies that can emerge as the next growth benchmarks in their respective sectors [6] - The final candidate list will be revealed on November 23, 2025, highlighting companies that demonstrate long-term value [6]

Core Viewpoint - The company, Tibet Tourism Co., Ltd., has announced the termination of a major asset restructuring plan involving the acquisition of a 60% stake in Beihai Xinyi Cruise Co., Ltd. from New World Holdings, citing the decision made during the board meeting on September 24, 2025 [1]. Group 1: Termination of Major Asset Restructuring - The board of Tibet Tourism approved the termination of the major asset restructuring plan to acquire a stake in Beihai Xinyi Cruise [1]. - The announcement regarding the termination was disclosed on September 25, 2025, through the Shanghai Stock Exchange and other designated media [1]. Group 2: Insider Information and Stock Trading - The self-inspection period for insider information related to the transaction was from July 17, 2023, to September 25, 2025 [2]. - The scope of the insider information included various parties such as the company's directors, major shareholders, and service providers involved in the restructuring [3]. - Individuals involved in the transaction confirmed that their stock trading activities were based on publicly available information and not on insider information related to the restructuring [4][5]. Group 3: Conclusion of the Investigation - The investigation concluded that the trading activities of relevant parties during the self-inspection period did not constitute insider trading and would not pose a legal obstacle to the transaction [6].

证券代码：600749 证券简称：西藏旅游 公告编号：2025-046 号 西藏旅游股份有限公司 相关内幕信息知情人买卖公司股票情况查询结果的公告 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。 2025 年 9 月 24 日，西藏旅游股份有限公司（以下简称"西藏旅游""公司" "上市公司"）召开第九届董事会第十次会议，审议通过《关于终止重大资产重 组事项的议案》等相关议案，同意公司终止以现金方式购买新奥控股投资股份有 限公司（以下简称"交易对方""新奥控股"）持有的北海新绎游船有限公司（以下 简称"新绎游船"）60%股权（以下简称"本次交易""本次重大资产重组"）事项。 具体内容详见公司于 2025 年 9 月 25 日在上海证券交易所网站及指定媒体披露的 《关于终止重大资产重组事项的公告》（公告编号：2025-043 号）。 根据《上市公司重大资产重组管理办法》《关于规范上市公司信息披露及相 关各方行为的通知》（证监公司字【2007】128 号）、《公开发行证券的公司信 息披露内容与格式准则第 26 号—上市公司重大 ...

北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 邮编；100005 电话（Tel）: 010-88004488/66090088 传真（Fax）: 010-66090016 北京国枫律师事务所 关于西藏旅游股份有限公司 终止重大资产重组项目之相关人员买卖股票情况的 专项核查意见 国枫律证字[2023]AN129-6 号 GRANDWAY 北京国枫律师事务所 关于西藏旅游股份有限公司 终止重大资产重组项目之相关人员买卖股票情况的 专项核查意见 国枫律证字[2023]AN129-6号 致:西藏旅游股份有限公司 根据北京国枫律师事务所(以下称"本所")与西藏旅游股份有限公司(以 下称"西藏旅游""上市公司")签订的律师服务协议书,本所接受西藏旅游的 委托,担任西藏旅游拟以现金方式购买北海新经游船有限公司(以下称"新绎游 船")60%股权(以下称"本次重组""本次交易")的特聘专项法律顾问,并 对知悉本次重组内幕信息的相关单位及自然人买卖西藏旅游股票的情况进行核 查。 2025 年 9 月 24 日,西藏旅游召开第九届董事会第十次会议,决议同意 ...

华泰联合证券有限责任公司 关于西藏旅游股份有限公司 终止重大资产重组事项之相关人员买卖股票情况的 专项核查意见 华泰联合证券有限责任公司(以下简称"华泰联合证券"或"独立财务顾问") 接受西藏旅游股份有限公司 (以下简称"上市公司"或"公司"或"西藏旅游") 委托,担任其支付现金购买北海新绛游船有限公司(以下简称"标的公司"或"新 绛游船"）60%股权暨关联交易(以下简称"本次交易"或"本次重大资产重组") 的独立财务顾问。 2025 年 9 月 24 日，西藏旅游召开第九届董事会第十次会议, 决议同意终止 本次交易。根据《中华人民共和国证券法》《上市公司重大资产重组管理办法》 《监管规则适用指引 -- 上市类第1号》等有关法律、行政法规及规范性文件的 规定,本独立财务顾问对本次交易的重组报告书披露之日 (即 2023年 7 月 17 日) 起至西藏旅游披露终止本次交易之日(即 2025年 9 月 25日) 期间（以下称 "核查期间"）内幕信息知情人员买卖西藏旅游股票的情况进行了核查,具体情 况如下: 一、本次重组相关主体的核查范围及核查期间 (一) 核查期间 本次交易相关主体买卖上市公司股票的自查期间为本次 ...

西藏旅游公告称，2025年9月24日公司终止以现金购买新奥控股持有的新绎游船60%股权。自查期间为 2023年7月17日至2025年9月25日，核查范围涉及公司、交易对方等相关人员。除王芸等3名自然人和西 藏国风文化发展有限公司有股票买卖情况外，其他内幕信息知情人无买卖行为。王芸等3人及西藏国风 文化发展有限公司均承诺其买卖行为与重组无关，未利用内幕信息。核查结论显示，相关人员买卖行为 不构成内幕交易，不会对交易构成实质性法律障碍。 ...

Core Insights - The tourism and scenic spots sector increased by 2.78% on October 20, with Dalian Shengya leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Sector Performance - Dalian Shengya (600593) closed at 41.78, up 10.01% with a trading volume of 138,700 shares [1] - Changzi Mountain (660E09) closed at 51.88, up 8.81% with a trading volume of 251,600 shares [1] - Caesar Travel (000796) closed at 6.68, up 7.05% with a trading volume of 2,334,700 shares [1] - Tianfu Cultural Tourism (000558) closed at 5.39, up 4.46% with a trading volume of 771,900 shares [1] - Other notable performers include Tibet Tourism (600749) up 3.08% and Xiyu Tourism (300859) up 2.69% [1] Capital Flow - The tourism and scenic spots sector saw a net inflow of 442 million yuan from main funds, while retail investors experienced a net outflow of 245 million yuan [2] - The main funds' net inflow for Caesar Travel was 171 million yuan, representing 10.87% of its trading volume [3] - Changzi Mountain also saw a significant net inflow of 123 million yuan, accounting for 9.60% of its trading volume [3]

Core Viewpoint - The A-share market has seen a significant rise in ice and snow economy concept stocks, driven by the recent International Winter Sports Expo held in Beijing, which forecasts the ice and snow industry in China to exceed 1 trillion yuan by 2025 [1][2]. Group 1: Stock Performance - Changbaishan (603099) reached its daily limit up, while Dalian Shengya (600593) previously hit its limit up, indicating strong investor interest in these stocks [1]. - Iceberg Cold Chain (000530) increased by nearly 8%, and Tianfu Culture Tourism (000558) rose by 5%, showcasing a positive trend in the sector [1]. - Other notable performers include Tibet Tourism (600749), Sanfu Outdoor (002780), and Xiyu Tourism (300859), all of which saw gains exceeding 3% [1]. Group 2: Market Data - Dalian Shengya (600593) has a market capitalization of 5.381 billion yuan and a year-to-date increase of 15.16% [2]. - Changbaishan (603099) has a market cap of 13.9 billion yuan with a year-to-date increase of 24.30% [2]. - The ice and snow industry is projected to welcome 817,000 inbound tourists during the 2024-2025 snow season, reflecting growing interest and investment in this sector [2].

Group 1 - The ice and snow industry concept experienced a strong rebound in the afternoon of October 20, with notable stocks such as Changbai Mountain and Dalian Shengya reaching their daily limit up [1] - Other companies in the sector, including Bingshan Cold Chain, Tianfu Culture Tourism, Tibet Tourism, and Xiyu Tourism, also saw significant gains [1]