Core Viewpoint - The company reported a decline in revenue while achieving growth in net profit, indicating a focus on strategic management amidst challenging market conditions [1] Financial Performance - The company achieved an operating revenue of 246.31 million, a year-on-year decrease of 6.49% [1] - The net profit attributable to shareholders was 54.73 million, reflecting a year-on-year increase of 4.12% [1] Strategic Focus - The management emphasized a core strategy of "innovation-driven operations, enhancing quality through strong experiences, and promoting development via superior projects" [1] - The company is implementing a one-stop cultural tourism development model based on "product diversification, market diversification, and service systematization" [1] Market Challenges - The company is navigating multiple challenges, including an unstable macroeconomic recovery, intensified competition in the cultural tourism market, and structural fluctuations in consumer demand [1]

江苏天目湖旅游股份有限公司2025 年半年度报告 公司代码：603136 公司简称：天目湖 江苏天目湖旅游股份有限公司 2025 年半年度报告 1 / 138 江苏天目湖旅游股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人李淑香、主管会计工作负责人彭志亮及会计机构负责人（会计主管人员）盛小 鹏声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的公司发展战略、经营计划等前瞻性描述，均不构成公司对投资者的实质承 诺，敬请投资者理解计划、预测和承诺之间的差异，请注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准 ...

证券之星消息，8月22日旅游及景区板块较上一交易日上涨0.64%，西域旅游领涨。当日上证指数报收 于3825.76，上涨1.45%。深证成指报收于12166.06，上涨2.07%。旅游及景区板块个股涨跌见下表： 从资金流向上来看，当日旅游及景区板块主力资金净流出1.92亿元，游资资金净流出4643.61万元，散户 资金净流入2.38亿元。旅游及景区板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300859 | 西域旅游 | 45.08 | 8.52% | 27.11万 | 12.01亿 | | 6602099 | 长白山 | 42.10 | 2.33% | 12.53万 | 5.23 Z | | 000610 | 西安旅游 | 13.75 | 1.40% | 31.60万 | 4.31亿 | | 661809 | 九华旅游 | 37.35 | 1 ...

Core Insights - The tourism and scenic area sector experienced a rise of 2.16% on August 18, with Tibet Tourism leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Sector Performance - Tibet Tourism (600749) saw a closing price of 29.44, with a significant increase of 10.01% and a trading volume of 325,000 shares, amounting to a transaction value of 943 million yuan [1] - Caesar Travel (000796) also rose by 10.00% to a closing price of 5.28, with a trading volume of 1,111,300 shares, resulting in a transaction value of 575 million yuan [1] - Other notable performers included Huangshan Tourism (600054) with a 3.53% increase, closing at 12.31, and Dalian Shengya (600593) with a 3.13% increase, closing at 32.26 [1] Capital Flow - The tourism and scenic area sector saw a net inflow of 354 million yuan from main funds, while retail funds experienced a net outflow of 73.84 million yuan [2] - Major stocks like Tibet Tourism and Caesar Travel attracted significant main fund inflows of 204 million yuan and 202 million yuan, respectively [3] - Conversely, retail investors showed a net outflow from several stocks, including a notable outflow from Caesar Travel of 86.52 million yuan [3]

Group 1 - The article discusses a promotional campaign in Changzhou, where several tourist attractions are offering free admission to visitors with the surname Zhao, as well as those holding specific event tickets [1][3][5] - The Tianmu Lake scenic area has announced that from August 17 to 31, all visitors with the surname Zhao can enter for free, potentially impacting ticket revenue significantly, with estimates ranging from approximately 4.8 billion to 7.4 billion yuan if all Zhao surname holders visited [1][3][6] - Other attractions, such as Huaguo Qiyuan and the China Dinosaur Park, are also participating in the free admission initiative, extending the offer to visitors with the surname Wang, which could lead to an estimated total ticket revenue impact exceeding 7.8 billion yuan [3][5] Group 2 - Tianmu Lake's projected revenue for 2024 is 536 million yuan, which could allow for 2.06 million to 3.19 million Zhao surname visitors to enter for free, representing only 7% to 11% of the total Zhao population in China [2][6] - The company has experienced revenue fluctuations over the past three years, with reported revenues of 369 million yuan, 630 million yuan, and 536 million yuan for 2022, 2023, and 2024 respectively, alongside net profits of 20 million yuan, 147 million yuan, and 105 million yuan [6] - The two scenic areas involved in the free admission campaign, the Mountain Water Park and the South Bamboo Sea, reported revenues of 148 million yuan and 135 million yuan respectively last year, with high gross margins of 69.72% and 71.22% [6]

Group 1 - The tourism sector in Changzhou is offering free admission to visitors with the surname Zhao and those holding specific event tickets, aiming to attract more tourists during the promotional period from August 17 to 31 [1][3] - The Tianmu Lake scenic area has set ticket prices at 168 yuan for a basic package and 260 yuan for a package including boat rides, with potential ticket revenue losses estimated between 4.8 billion to 7.4 billion yuan if all Zhao surname holders visit [3][6] - Other local attractions, such as Huaguo Qiyuan and China Dinosaur Park, are also participating in the free admission initiative, with Huaguo Qiyuan offering free entry to both Zhao and Wang surname visitors [3][4] Group 2 - Tianmu Lake's projected revenue for 2024 is 536 million yuan, which could cover the ticket costs for approximately 2.06 million to 3.19 million Zhao surname visitors, representing only 7% to 11% of the total Zhao population in China [2][6] - The company has experienced revenue fluctuations over the past three years, with reported revenues of 369 million yuan in 2022, 630 million yuan in 2023, and 536 million yuan in 2024, alongside net profits of 20 million yuan, 147 million yuan, and 105 million yuan respectively [6] - The promotional strategy is linked to the performance of the Suzhou Super League, which has influenced local attractions to adopt similar free admission policies, highlighting the connection between sports events and tourism revenue [5][6]

Core Viewpoint - The Tianmu Lake scenic area in Changzhou, Jiangsu, is offering free admission to visitors with the surname Zhao from August 17 to August 31, following a local football team's victory, which has the potential to attract a significant number of visitors [2][4]. Company Overview - Tianmu Lake (603136.SH) is the first listed tourism scenic area enterprise in Jiangsu Province, having been listed on the A-share market in September 2017 [5]. - The company has experienced revenue fluctuations over the past three years, with revenues of 3.69 billion yuan, 6.3 billion yuan, and 5.36 billion yuan for the years 2022 to 2024, respectively [5]. Financial Performance - The company's net profit for the same period was 0.2 billion yuan, 1.47 billion yuan, and 1.05 billion yuan [5]. - In Q1 of the current year, the company reported a slight revenue decline of 1.6% to 1.05 billion yuan, while net profit increased by 26.45% to 13.84 million yuan [5]. Scenic Area Performance - The two scenic areas involved in the free admission offer, the Mountain Water Garden and Nanshan Bamboo Sea, generated revenues of 1.48 billion yuan and 1.35 billion yuan last year, showing year-on-year decreases of 17.47% and 7.58%, respectively [6]. - Both scenic areas have high gross profit margins, achieving 69.72% and 71.22% last year [6]. Visitor Potential - Based on the 2018 national surname report, there are approximately 28.6 million people with the surname Zhao in China [4]. - If all Zhao surname visitors were to visit Tianmu Lake, the potential ticket revenue could reach between 4.8 billion yuan and 7.4 billion yuan [4]. - The company could afford to cover the entrance fees for approximately 206,000 to 319,000 Zhao surname visitors, which represents only 7% to 11% of the total Zhao population [4].

Core Viewpoint - The Tianmu Lake scenic area in Changzhou, Jiangsu, is offering free admission to visitors with the surname Zhao from August 17 to August 31, following a local football team's victory attributed to a player with the same surname [2][4]. Company Overview - Tianmu Lake (603136.SH) is the first listed tourism scenic area enterprise in Jiangsu Province, having been listed on the Shanghai Stock Exchange in September 2017 [5]. - The company operates within a national-level tourism resort that spans 320 square kilometers and includes various ecological and recreational designations [4]. Financial Performance - The company has experienced revenue fluctuations over the past three years, with revenues of 3.69 billion yuan, 6.3 billion yuan, and 5.36 billion yuan for the years 2022, 2023, and 2024, respectively [6]. - The net profit attributable to shareholders for the same years was 0.2 billion yuan, 1.47 billion yuan, and 1.05 billion yuan [6]. - In Q1 of the current year, the company reported a slight revenue decline of 1.6% to 1.05 billion yuan, while net profit increased by 26.45% to 13.84 million yuan [6]. Visitor Impact and Revenue Potential - The scenic area has set a ticket price of 168 yuan for the combined mountain water park and bamboo sea, and 260 yuan including boat rides [4]. - If all 28.6 million people with the surname Zhao visited, the potential ticket revenue could reach approximately 4.8 billion to 7.4 billion yuan [4]. - Based on the 2024 revenue forecast, the company could afford to cover the entrance fees for 2.06 million to 3.19 million Zhao surname visitors, which represents only 7% to 11% of the total Zhao population [4].

Core Viewpoint - The article discusses the promotional strategy of free admission for visitors with specific surnames, particularly targeting the "Zhao" surname, in various tourist attractions in Changzhou, which could lead to significant financial implications for these businesses [3][6][8]. Group 1: Free Admission Promotions - From August 17 to 31, 2025, the Tianmu Lake Scenic Area offers free admission to all visitors with the surname "Zhao" [3][6]. - Other attractions, such as Huaguo Qiyuan and China Dinosaur Park, are also providing free entry to visitors with the surnames "Zhao" and "Wang" [3][6][8]. - The potential financial impact of these promotions could reach approximately 48 billion to 74 billion yuan if all 28.6 million "Zhao" surname holders visited the Tianmu Lake Scenic Area [3][6][8]. Group 2: Financial Implications for Tianmu Lake - Tianmu Lake's revenue for 2024 is projected at 5.36 billion yuan, which could allow for the free admission of 206,000 to 319,000 "Zhao" surname visitors, representing only 7% to 11% of the total "Zhao" population [4][8]. - The scenic area has experienced revenue fluctuations, with reported revenues of 3.69 billion yuan in 2022, 6.3 billion yuan in 2023, and 5.36 billion yuan in 2024 [8][9]. - In the first quarter of the current year, Tianmu Lake reported a slight revenue decline of 1.6% but a net profit increase of 26.45% [9]. Group 3: Market Context and Competitors - The promotional activities are part of a broader trend among local attractions in Changzhou, which are leveraging events like the "Suo Super" to attract visitors [3][8]. - The article highlights the presence of publicly listed companies and those planning to IPO in the tourism sector, indicating a competitive landscape influenced by these promotional strategies [8].

Group 1 - The article discusses the promotional strategy of free admission for visitors with the surname Zhao at various tourist attractions in Changzhou, which is expected to significantly impact ticket revenue [2][4][6] - The Tianmu Lake scenic area is offering free entry from August 17 to 31 for all Zhao surname visitors, with potential ticket revenue implications estimated between 4.8 billion to 7.4 billion yuan if all 28.6 million Zhao individuals in China visited [4][5] - Other attractions, such as Huaguo Qiyuan and China Dinosaur Park, are also participating in the free admission initiative, extending the offer to visitors with the surname Wang [4][5] Group 2 - Tianmu Lake's projected revenue for 2024 is 536 million yuan, which could cover the entry fees for approximately 206,000 to 319,000 Zhao surname visitors, representing only 7% to 11% of the total Zhao population [3][6] - The financial performance of Tianmu Lake has shown fluctuations, with revenues of 369 million yuan, 630 million yuan, and 536 million yuan from 2022 to 2024, alongside net profits of 20 million yuan, 147 million yuan, and 105 million yuan during the same period [6] - The two scenic spots, Shanshui Garden and Nanshan Bamboo Sea, reported revenues of 148 million yuan and 135 million yuan respectively last year, with high gross margins of 69.72% and 71.22% [6]