中信建投证券股份有限公司关于江苏天目湖旅游股份有限公司 延长募集资金投资项目实施期限的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐机构"） 作为江苏天目湖旅游股份有限公司（以下简称"天目湖"或"公司"）公开发行 可转换公司债券的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公 司募集资金监管规则》《上海证券交易所上市公司自律监管指引第1号——规范运 作》和《上海证券交易所上市公司自律监管指引第11号——持续督导》等有关规 定，对天目湖延长募集资金投资项目实施期限的事项进行了审慎核查，核查情况 如下： 一、募集资金的基本情况 经中国证券监督管理委员会《关于核准江苏天目湖旅游股份有限公司公开发 行可转换公司债券的批复》（证监许可〔2019〕2697号）文核准，公司向社会公 开发行可转换公司债券3,000,000张，每张面值为人民币100.00元，按面值发行。 本次募集资金发行总额为人民币300,000,000.00元，扣除发行费用人民币 10,269,000.00元后，实际募集资金净额为289,731,000.00元，用于"南山小寨二期 项目"、"御水温泉（一期）装修改造项目"。 该 ...

证券代码：603136 证券简称：天目湖 公告编号：2025-037 江苏天目湖旅游股份有限公司 关于延长募集资金投资项目实施期限的公告 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。 江苏天目湖旅游股份有限公司（以下简称"公司"）于 2025 年 8 月 22 日召 开了第六届董事会第十四次会议，审议通过了《关于延长募集资金投资项目实施 期限的议案》。具体内容如下： 一、募集资金的基本情况 经中国证券监督管理委员会《关于核准江苏天目湖旅游股份有限公司公开发 行可转换公司债券的批复》（证监许可〔2019〕2697 号）文核准，公司向社会 公开发行可转换公司债券 3,000,000 张，每张面值为人民币 100.00 元，按面值 发行。本次募集资金发行总额为人民币 300,000,000.00 元，扣除发行费用人民 币 10,269,000.00 元后，实际募集资金净额为 289,731,000.00 元，用于"南山 小寨二期项目"、"御水温泉（一期）装修改造项目"。 该募集资金已于 2020 年 3 月 5 日全部到位 ...

证券代码：603136 证券简称：天目湖 公告编号：2025-036 江苏天目湖旅游股份有限公司 关于 2025 年半年度募集资金存放与实际使用情况的 专项报告 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。 根据中国证券监督管理委员会（以下简称"中国证监会"）《上市公司监管指引 第 2 号—上市公司募集资金管理和使用的监管要求》、上海证券交易所及《上海证券 交易所上市公司自律监管指引第 1 号——规范运作》等文件的要求，现将江苏天目湖 旅游股份有限公司（以下简称"公司"）截至 2025 年 6 月 30 日募集资金存放与实际 使用情况专项说明如下： 一、募集资金基本情况 （一）扣除发行费用后的实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于核准江苏天目湖旅游股份有限公司公开发行可 转换公司债券的批复》（证监许可〔2019〕2697号）文核准，公司向社会公开发行可 转换公司债券3,000,000张，每张面值为人民币100.00元，按面值发行。本次募集资 金发行总额为人民币300,000,000.00元，扣 ...

证券代码：603136 证券简称：天目湖 公告编号：2025-035 江苏天目湖旅游股份有限公司 关于第六届董事会第十四次会议决议的公告 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。 一、董事会会议召开情况 江苏天目湖旅游股份有限公司（以下简称"公司"）第六届董事会第十四次 会议于 2025 年 8 月 22 日在公司行政楼一楼会议室以现场结合通讯表决的方式召 开，会议通知于 2025 年 8 月 12 日书面发出。 本次会议由董事长李淑香女士主持。公司应参会董事共 9 名，实际到会董事 9 名，公司全体高级管理人员列席了本次会议，会议召开程序符合《中华人民共 和国公司法》和《公司章程》有关规定。 二、董事会会议审议情况 （二）审议通过《关于<2025 年半年度募集资金存放与实际使用情况的专项 报告>的议案》。 表决结果：同意 9 票；弃权 0 票；反对 0 票。 公司董事会同意《2025 年半年度募集资金存放与实际使用情况的专项报告》 的内容。 截 至 2025 年 6 月 30 日 ， 本 公 司 实 际 使 用 ...

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 ...

Core Viewpoint - The tourism and scenic area sector experienced a rise of 0.64% on August 22, with Xiyu Tourism leading the gains. The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1]. Group 1: Stock Performance - Xiyu Tourism (300859) saw a closing price of 45.08, with an increase of 8.52% and a trading volume of 271,100 shares, amounting to a transaction value of 1.201 billion yuan [1]. - Changbai Mountain (6602099) closed at 42.10, up 2.33%, with a trading volume of 125,300 shares and a transaction value of 523 million yuan [1]. - Xi'an Tourism (000610) closed at 13.75, up 1.40%, with a trading volume of 316,000 shares and a transaction value of 431 million yuan [1]. - Other notable performers include Jiuhua Tourism (661809) at 37.35 (+1.00%), Songcheng Performance (300144) at 8.86 (+0.80%), and Xiangyuan Cultural Tourism (600576) at 7.92 (+0.51%) [1]. Group 2: Market Trends - The tourism and scenic area sector experienced a net outflow of 192 million yuan from main funds, while retail investors saw a net inflow of 238 million yuan [2]. - The overall market sentiment indicates a mixed performance, with some stocks experiencing declines, such as Tibet Tourism (600749) down 2.96% and Caesar Travel (000796) down 1.49% [2].

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]