Investment Rating - The report maintains a "Buy" rating for the company [2][8] Core Insights - The company is positioned as a leading player in the cultural tourism sector, driven by its dual business model of "performing arts + cable cars," with core assets including the live performance "Long Hate Song" and the Huashan cable car, creating a business loop and brand barrier [2][19] - The company is expected to achieve a revenue of 1.263 billion yuan in 2024, with a net profit of 511.73 million yuan, indicating stable growth in its main business [2][19] - The company benefits from supportive service consumption policies that promote the development of the cultural tourism industry [16][19] Financial Projections - Total revenue projections for the company are as follows: 1.088 billion yuan in 2023, 1.263 billion yuan in 2024, 1.052 billion yuan in 2025, 1.174 billion yuan in 2026, and 1.308 billion yuan in 2027 [1] - Net profit projections are: 427.45 million yuan in 2023, 511.73 million yuan in 2024, 394.30 million yuan in 2025, 513.89 million yuan in 2026, and 588.88 million yuan in 2027 [1] - The earnings per share (EPS) are projected to be 5.53 yuan in 2023, 6.62 yuan in 2024, 5.10 yuan in 2025, 6.65 yuan in 2026, and 7.61 yuan in 2027 [1] Business Segments - The performing arts segment is expected to generate 7.39 billion yuan in revenue in 2024, with the "Long Hate Song" contributing 6.81 billion yuan, reflecting a 26% year-on-year increase [25][36] - The cable car segment is projected to generate 4.73 billion yuan in revenue in 2024, with the Huashan cable car expected to carry 371 million passengers, reflecting a 10% increase [27][55] - The tourism catering segment is anticipated to generate 0.42 billion yuan in revenue in 2024, although it is expected to decline by 11% year-on-year [34][19] Group Support - The controlling shareholder, Shaanxi Tourism Group, is a significant player in the cultural tourism sector, with assets exceeding 54 billion yuan as of September 2025, providing comprehensive support to the company [57][60] - The group operates multiple 5A-level scenic spots and cultural performances, enhancing the company's operational capabilities and resource integration [60]

一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 176 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 61,129,550 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 79.0468 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次股东会由公司董事会召集，董事长马婷女士主持。会议采用现场投票和 (一) 股东会召开的时间：2026 年 2 月 12 日 (二) 股东会召开的地点：陕西省西安市长安区航天基地航创路 1 号陕旅豪布 斯卡 16 层陕西旅游文化产业股份有限公司会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 证券代码：603402 证券简称：陕西旅游 公告编号：2026-008 陕西旅游文化产业股份有限公司 2026年第一次临时股东会决议公告 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： 本次会议是否有否决议案：无 网络投票相 ...

北京市金杜律师事务所 关于陕西旅游文化产业股份有限公司 2026 年第一次临时股东会的 法律意见书 致：陕西旅游文化产业股份有限公司 北京市金杜律师事务所（以下简称本所）接受陕西旅游文化产业股份有限公 司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会 （以下简称中国证监会）《上市公司股东会规则》（以下简称《股东会规则》） 等中华人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包括中 国香港特别行政区、中国澳门特别行政区和中国台湾省）现行有效的法律、行政 法规、规章、规范性文件和现行有效的《陕西旅游文化产业股份有限公司章程》 （以下简称《公司章程》）有关规定，指派律师出席了公司于 2026 年 2 月 12 日 召开的 2026 年第一次临时股东会（以下简称本次股东会），并就本次股东会相关 事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2025 年第二次临时股东大会审议通过并已在公司首次公开发行 A 股股票并在上海证券交易所主板上市后生效的《 ...

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector [3]. Core Insights - The 2026 Spring Festival will feature a "9-day no work adjustment" policy, leading to a high public satisfaction rate of 92.9%. This extended holiday is expected to significantly boost travel and consumption during the Spring Festival period [7][8]. - The aviation sector anticipates a record passenger volume of 95 million during the 40-day Spring Festival travel period, representing a year-on-year increase of 5.3%. The number of flights planned by domestic airlines is expected to reach 657,000, also up by 5% [8]. - The domestic tourism market is experiencing diverse growth, with family travel becoming increasingly popular. The proportion of family travelers is expected to reach 39%, while the elderly demographic (aged 60 and above) will account for 19% of travelers [18][20]. - There is a notable increase in outbound travel demand, with booking volumes rising nearly 40% year-on-year. Southeast Asia is dominating international travel routes, capturing nearly 50% of outbound flights, while flights to Japan have decreased significantly [31][40]. Summary by Sections 1. Expansion of Aviation and Railway Capacity - The Spring Festival travel period will see a significant increase in passenger flow, with the aviation sector expecting 95 million passengers, and the railway sector projecting 539 million passengers, both reflecting a 5% increase year-on-year [8][16]. 2. Emergence of Diverse Customer Groups - Family travel is on the rise, with a notable increase in the average booking price for family accommodations, which is 9% higher than other types. The demand for larger, more private accommodations is also increasing, with a 77% year-on-year growth in bookings for standalone villas during the winter holiday [18][20]. 3. Restructuring of Destination Patterns - Outbound travel is seeing a shift, with Thailand regaining its position as the top destination. The demand for long-haul and differentiated travel experiences is becoming mainstream, with a significant increase in interest for destinations like Turkey and New Zealand [31][42]. 4. Investment Analysis Recommendations - The report suggests focusing on companies that can leverage the benefits of the extended holiday and the growth in inbound and long-haul outbound travel. Recommended sectors include tourism attractions, exhibition and sports events, human resources, hotels, and duty-free retail [43].

Group 1 - The core viewpoint of the news is that Shaanxi Tourism experienced a decline in stock price and trading volume, with a drop of 2.53% on February 10, resulting in a transaction amount of 352 million yuan [1] - On February 10, Shaanxi Tourism had a financing buy-in amount of 30.88 million yuan and a financing repayment of 45.58 million yuan, leading to a net financing outflow of 14.70 million yuan [1] - As of February 10, the total balance of margin trading for Shaanxi Tourism was 108 million yuan, which accounts for 3.55% of its circulating market value [1] Group 2 - As of January 6, the number of shareholders for Shaanxi Tourism reached 38,600, reflecting an increase of 642,916.67% compared to the previous period [2] - For the period from January to September 2025, Shaanxi Tourism reported an operating income of 889 million yuan, representing a year-on-year decrease of 18.80%, and a net profit attributable to shareholders of 369 million yuan, down 26.93% year-on-year [2] - The main business revenue composition of Shaanxi Tourism includes 57.14% from tourism performances, 34.72% from tourism cable cars, 3.79% from passenger road transport, 3.69% from tourism catering, and 0.66% from other sources [1]

2月6日，陕西旅游跌3.69%，成交额4.84亿元。两融数据显示，当日陕西旅游获融资买入额4308.68万 元，融资偿还2462.49万元，融资净买入1846.19万元。截至2月6日，陕西旅游融资融券余额合计1.23亿 元。 截至1月6日，陕西旅游股东户数3.86万，较上期增加642916.67%；人均流通股501股，较上期增加 0.00%。2025年1月-9月，陕西旅游实现营业收入8.89亿元，同比减少18.80%；归母净利润3.69亿元，同 比减少26.93%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 融券方面，陕西旅游2月6日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元。 资料显示，陕西旅游文化产业股份有限公司位于西安市长安区航创路1号，成立日期1988年1月19日，上 市日期2026年1月6日，公司主营业务涉及集旅游演艺、旅游 ...

Core Viewpoint - Shaanxi Tourism (stock code: sh603402) experienced a trading halt with a price increase of 10% to 168.7 yuan, resulting in a total market capitalization of 13.046 billion yuan and a circulating market capitalization of 3.262 billion yuan, with a total transaction amount of 0.565 billion yuan as of the report date [1]. Group 1 - The company successfully completed its IPO, increasing its registered capital to 77.33334 million yuan, significantly enhancing its capital strength [2]. - Post-IPO, the company has improved its governance structure by establishing and revising 24 governance systems, which cover various aspects such as the shareholders' meeting, board of directors, and professional committees, thereby increasing transparency in information disclosure [2]. - The company has a strong core business advantage, with recognized projects like "The Long Hate Song" providing stable revenue sources, and additional income from businesses like the Huashan West Peak Cableway [2]. Group 2 - The raised funds will be allocated to projects such as the second phase of Taishan Xiucheng, which is expected to cultivate new profit growth points [2]. - The company's price-to-earnings ratio is 12.37, significantly lower than the industry average of 23.29, indicating a relatively reasonable pricing [2]. - On January 31, 2026, China International Capital Corporation rated Shaanxi Tourism as "outperforming the industry" with a target price of 170 yuan, highlighting its strong product capabilities in the cultural tourism performance sector and potential for project expansion [2]. Group 3 - The tourism sector has recently gained momentum, influenced by holiday travel consumption expectations, leading to active performance among certain stocks within the sector, including Shaanxi Tourism [2]. - Although specific capital flow data is not yet available, the positive fundamentals of the company and favorable market expectations for the tourism sector have attracted investor attention [2]. - The technical indicators may also show a bullish trend, contributing to the stock price increase [2].

Group 1 - The tourism and hotel sector is experiencing strong performance, with notable stocks such as Shaanxi Tourism and Three Gorges Tourism hitting the daily limit up [1] - Other companies in the sector, including Junting Hotel, Huangshan Tourism, Jinjiang Hotel, and Dongbai Group, are also showing significant gains [1]

Core Viewpoint - The A-share market is witnessing a strong performance in tourism stocks, with significant increases in share prices driven by a surge in domestic travel demand for the upcoming 2026 Spring Festival holiday, as indicated by a 300% year-on-year increase in planned travel numbers [1]. Group 1: Stock Performance - Three Gorges Tourism has reached the daily limit up with a 10% increase, bringing its total market value to 7.253 billion [2]. - Shaanxi Tourism has seen an 8.89% rise, with a market capitalization of 12.9 billion [2]. - Huangshan Tourism has increased by 7.16%, with a total market value of 10.6 billion [2]. - Dongbai Group has risen by 6.03%, with a market capitalization of 14.7 billion [2]. - Songcheng Performance has increased by 4.47%, with a market value of 23.9 billion [2]. - Other notable increases include ST Zhengping at 4.16%, Caesar Travel at 3.86%, and Haikan Co. at 3.52% [2]. Group 2: Market Trends - The domestic tourism market is experiencing a "volume and price increase" trend, indicating a robust recovery and growth potential in the sector [1]. - The planned travel numbers for the 2026 Spring Festival are expected to significantly boost the tourism industry, reflecting a strong consumer sentiment and willingness to travel [1].

Group 1 - The tourism and scenic area sector increased by 0.71% on February 4, with Caesar Travel leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] - Key stocks in the tourism sector showed various performance, with Caesar Travel closing at 6.47, up 3.69%, and Xi'an Tourism at 10.53, up 3.54% [1] Group 2 - The tourism sector experienced a net outflow of 65.82 million yuan from main funds, while retail investors saw a net inflow of 132 million yuan [2] - Notable stocks with significant fund flows included Caesar Travel with a net inflow of 73.92 million yuan from main funds, but a net outflow from retail investors of 58.75 million yuan [3] - Yunnan Tourism had a net inflow of 14.19 million yuan from main funds, with a net outflow of 8.36 million yuan from retail investors [3]