Core Viewpoint - The ST sector has shown a positive performance with a 1.11% increase, leading among concept sectors, while some stocks within the sector have reached their daily limit up [1][2]. Group 1: ST Sector Performance - As of May 9, the ST sector increased by 1.11%, with 123 stocks rising, including *ST Huicheng, ST Xuefa, and *ST Dongyi, which hit the daily limit up [1]. - Notable gainers in the ST sector included ST Xiangxue (up 8.70%), ST Kaili (up 7.54%), and ST Xindongli (up 5.26%) [1]. - The stocks with the largest declines included *ST Dongtong (down 5.73%), ST Huaxi (down 5.08%), and *ST Mubang (down 4.99%) [1]. Group 2: Capital Flow Analysis - The ST sector experienced a net outflow of 341 million yuan from major funds, with 88 stocks receiving net inflows [2]. - The stock with the highest net inflow was *ST Jinglun, which saw a net inflow of 50.59 million yuan, followed by *ST Xingguang and *ST Nanzhi with net inflows of 27.10 million yuan and 21.03 million yuan, respectively [2]. - In terms of net inflow ratios, *ST Chuangxing, *ST Heke, and *ST Lihang led with net inflow ratios of 86.30%, 76.60%, and 58.28% respectively [3]. Group 3: Individual Stock Performance - The top performers in the ST sector based on daily change included *ST Jinglun (up 3.23%), *ST Xingguang (up 4.82%), and *ST Nanzhi (up 2.61%) [3][4]. - Other notable gainers included ST Zhangjiajie (up 5.00%) and ST Shengtun (up 1.44%) [4]. - Conversely, *ST Dongtong and ST Huaxi were among the largest decliners, with significant drops of 5.73% and 5.08% respectively [6].

Core Viewpoint - Zhangjiajie Lotus International Airport has introduced five innovative service measures to enhance passenger travel experience during the peak travel period of the May Day holiday, ensuring a worry-free journey from check-in to boarding [1][9]. Group 1: Efficient Check-in Services - The airport has established a "No Checked Baggage Counter" at the B check-in island, allowing travelers without checked luggage to complete check-in quickly, promoting an "arrive and go" efficient travel experience [1]. - The "Le Xiang Yong" service platform enables travel agencies and tour guides to pre-book team check-in services, allowing them to skip queues and receive boarding passes in advance. Since the start of the flight season, 237 teams and 4,019 passengers have benefited from this service [3]. Group 2: Streamlined Security Checks - To improve efficiency during peak times, the airport has increased early morning staff and opened additional security check channels 30 minutes earlier. A pre-check area for luggage has also been established to assist passengers in ensuring compliance with carry-on regulations [5][6]. - Special assistance is provided for travelers with large luggage, mobility issues, and vulnerable groups such as the elderly, children, and pregnant women, with dedicated personnel to help with luggage retrieval and priority boarding [5]. Group 3: Volunteer Services - A volunteer service team composed of party members and youth league members is actively providing assistance in key areas such as check-in halls, security checkpoints, and boarding areas, offering help with travel procedures, route guidance, inquiries, and maintaining order [8]. - During peak times, the team enhances crowd management to reduce waiting times, embodying the concept of "service with warmth" [8].

Core Viewpoint - The article discusses the severe congestion experienced at Zhangjiajie National Forest Park during peak tourist seasons, highlighting the inadequacies in crowd management and infrastructure that lead to long wait times for visitors [3][8][12]. Group 1: Congestion Issues - Zhangjiajie has faced significant congestion issues during peak times, with reports of visitors waiting for hours to descend the mountain, leading to frustrations and even missed flights [3][6][7]. - On May 2, 2023, the park received 64,339 visitors, a 45.22% increase year-on-year, with approximately 34,000 visitors on the second day alone, contributing to the congestion [11][15]. - The park's infrastructure, including the world's highest outdoor elevator, the Bailong Elevator, and the Tianzi Mountain cableway, has limited capacity, exacerbating the congestion problem [9][11]. Group 2: Management and Capacity - Despite the congestion, the park's management believes that the visitor numbers are still below the maximum capacity, which is set at 61,730 for peak times, indicating a disconnect between perceived and actual capacity [13][15]. - The article suggests that the park's management has not effectively implemented crowd control measures, as the visitor numbers on peak days do not trigger the necessary traffic and entry controls [16][18]. - The need for improved transportation efficiency and additional access routes to alleviate congestion is emphasized, as current bottlenecks at key transport points remain unresolved [17][22]. Group 3: Financial Aspects - Zhangjiajie Tourism Group, which operates the park, has faced financial difficulties, being labeled as "ST Zhangjiajie" due to continuous losses exceeding 1.3 billion [23][24]. - Despite the losses, certain attractions like the Bailong Elevator have proven to be profitable, generating significant tax revenue and visitor numbers, indicating potential for financial recovery if managed properly [24][25]. - The article highlights the complexity of changing the existing profit structures within the park, which may hinder efforts to improve visitor experience and infrastructure [26].

5月4日，张家界市武陵源区委旅游工作委员会办公室发布情况通报称，受2日客流激增影响，当晚19:20 至20:30返城车流高峰时段，张家界国家森林公园南门至武陵源城区的部分路段出现拥堵，车辆通行受 阻，导致接驳的城景客运专线车辆通行效率降低，部分游客在景区南门外栖凤岗亭候车处滞留。情况发 生后，有关部门立即加大交通疏导力度并增加接驳车辆，21:53游客全部接送完毕。 张家界市武陵源区委旅游工作委员会办公室称，为做好"五一"假日旅游接待工作，武陵源区采取了涉旅 岗位工作人员全员上岗、提早开放景区、延长服务时间、分时分站预约等措施，但仍然存在游客乘坐电 梯、缆车、环保车排队时间较长等现象。这反映出武陵源区在旅游高峰时段的综合管理能力方面还存在 较大差距。在此，对所有受影响的游客表示诚挚的歉意。有关部门将深刻汲取教训，科学实施景区限 流、优化分时分站预约、强化交通疏导和运力保障等措施，切实提升旅游管理和接待服务水平，为广大 游客提供良好的旅游环境。 （文章来源：南方都市报） 5月4日，南都记者注意到，湖南张家界市武陵源区委旅游工作委员会办公室发布情况通报称，5月2日， 张家界市武陵源区客流激增，导致张家界国家森林公园 ...

Market Overview - The Shanghai Composite Index fell by 0.20% on April 28, with five industries rising, led by banking and steel, which increased by 0.98% and 0.53% respectively [1] - The real estate and comprehensive sectors experienced the largest declines, down by 3.66% and 2.52% respectively [1] - The social services sector ranked third in terms of decline for the day [1] Capital Flow - The main capital outflow from both markets totaled 29.894 billion yuan, with only two sectors seeing net inflows: steel (200 million yuan) and oil & petrochemicals (66.933 million yuan) [1] - The electronics sector had the largest net outflow, totaling 3.104 billion yuan, followed by the automotive sector with a net outflow of 2.516 billion yuan [1] Social Services Sector - The social services sector declined by 2.19% with a net capital outflow of 524 million yuan [2] - Out of 77 stocks in this sector, 10 rose while 63 fell, including one stock that hit the daily limit down [2] - The top three stocks with the highest net outflows included Zhongxin Tourism (59.004 million yuan), Zhonggong Education (54.230 million yuan), and Guomai Technology (44.444 million yuan) [2] Notable Stocks in Social Services - The stock *ST Chuan Zhi saw a net inflow of 54.911 million yuan, while ST Zhangjiajie and Gangyan Nake followed with inflows of 18.9027 million yuan and 16.4099 million yuan respectively [4] - The stocks with the largest capital outflows included Zhongxin Tourism (-5.90037 million yuan), Zhonggong Education (-5.423 million yuan), and Guomai Technology (-4.4444 million yuan) [2][3]

张家界旅游集团股份有限公司（以下简称"公司"）股票日均换 手率连续 1 个交易日（2025 年 4 月 24 日）与前 5 个交易日日均换手 率比值达 160.96 倍，且累计换手率达 24.79%，属于《深圳证券交易 所交易规则》规定的股票交易异常波动的情况。 二、公司关注及核实情况说明 针对股票交易异常波动，公司对有关事项进行了核查，公司董事 会通过现场、短信等问询方式，对公司控股股东及实际控制人、公司 董事、监事及高级管理人员就相关问题进行了核实，现将有关情况说 明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 证券代码：000430 证券简称：ST张家界 公告编号：2025-026 张家界旅游集团股份有限公司 关于公司股票交易异常波动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 5、公司、控股股东和实际控制人不存在关于本公司的应披露而 未披露的重大事项，或处于筹划阶段的重大事项。 6、在公司本次股票异常波动期间，不存在公司控股股东、实际 控制人及公司董事、监事、高级管理人员买卖公司股票的情况。 三、是 ...

Core Viewpoint - ST Zhangjiajie (000430) has signed a strategic cooperation agreement with Caesar Travel (000796) to establish a long-term partnership aimed at promoting high-quality development in Zhangjiajie's tourism industry [1] Group 1: Strategic Cooperation - The agreement focuses on integrating resources from both companies to enhance tourism offerings in Zhangjiajie [1] - It includes joint efforts to explore Zhangjiajie's natural resources and cultural attractions, as well as the development of complementary tourism products [1] Group 2: Areas of Collaboration - The partnership will involve deep cooperation in inbound tourism, health and wellness tourism, and educational travel [1] - Caesar Travel's global tourism channel network will be leveraged to jointly promote Zhangjiajie tourism, increasing its visibility and influence [1] Group 3: Agreement Details - The strategic cooperation agreement is valid for one year, effective from the date of signing and sealing by both parties [1]

证券代码：000430 证券简称：ST张家界 公告编号：2025-025 张家界旅游集团股份有限公司 关于签署战略合作框架协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 特别提示： 1.《关于张家界旅游集团股份有限公司与凯撒同盛发展股份有限 公司之战略合作协议》（以下简称"本协议"或"《战略合作协议》"） 为张家界旅游集团股份有限公司（以下简称"张旅集团"或"公司"） 与凯撒同盛发展股份有限公司（以下简称"凯撒旅业"）进行战略性 合作签署的框架性意向协议，不具有强制法律约束力。 2.本协议为双方基于合作意向而达成的框架性约定，具体合作事 项需根据业务合作进展的实际情况由双方协商确定，经双方履行有效 审批程序后另行签署相关合同/协议，具体实施情况尚存在不确定性。 3.本协议对公司本年度及未来年度财务状况、经营业绩的影响存 在不确定性。 一、协议签署情况 2025 年 4 月 24 日，公司与凯撒旅业签署《关于张家界旅游集团 股份有限公司与凯撒同盛发展股份有限公司之战略合作协议》，双方 本着长期合作、自愿平等、诚实守信、互惠互利、共同发展的宗旨， 从长 ...

Core Insights - Guilin Tourism has accumulated losses of nearly 1 billion yuan since 2020, with a revenue drop of 7.58% in 2024 and a net profit loss of 204 million yuan, reflecting a significant decline of 1830.7% year-on-year [1] - Zhangjiajie, another well-known tourist operator, has also faced severe financial difficulties, leading to its stock being marked as "ST Zhangjiajie" due to continuous losses [1] - The traditional "ticket economy" model is facing severe challenges, as high ticket prices are no longer sustainable in the current competitive tourism market [2][7] Industry Challenges - The reliance on high ticket prices for profit has reached a bottleneck, with the National Development and Reform Commission urging reductions in ticket prices for state-owned scenic spots [2] - Despite ticket price reductions, such as Zhangjiajie's core scenic area ticket dropping from 248 yuan to 165 yuan, total revenue still declined by 5%, indicating that merely lowering prices does not resolve the underlying profitability issues [2] - Tourists are increasingly sensitive to ticket prices, especially when they represent a significant portion of their daily wages, limiting their willingness to pay [2][3] Shift in Consumer Expectations - Tourists now seek comprehensive experiences rather than just scenic views, leading to a redefinition of value in tourism [3][4] - Negative feedback about high ticket prices and poor experiences is prevalent on social media, highlighting the mismatch between ticket prices and the quality of service and experience provided [3][4] - Successful examples, such as the West Lake in Hangzhou, demonstrate that free access can enhance visitor satisfaction and stimulate surrounding businesses, indicating a shift towards experience-driven tourism [3][4] Need for Business Model Innovation - The traditional "high ticket price + low service" model is unsustainable, and scenic spots must evolve to meet modern consumer expectations [6][7] - Many scenic areas still operate under outdated "sightseeing 1.0" models, focusing on physical attractions while neglecting service quality and visitor experience [7] - There is a pressing need for diversified revenue streams beyond ticket sales, with successful destinations integrating secondary consumption such as hotels and performances into their business models [9] Recommendations for Future Development - Scenic areas should focus on enhancing the quality and diversity of their offerings, moving from a "ticket seller" to an "experience designer" [9] - Developing unique cultural experiences, themed routes, and high-quality service can help attract visitors and improve profitability [9] - Emphasizing digital technology and cultural integration will be crucial for creating value and meeting the evolving demands of tourists [9]

证券代码：000430 证券简称：ST张家界 公告编号：2025-024 张家界旅游集团股份有限公司 关于公司股票交易异常波动的公告 张家界旅游集团股份有限公司（以下简称"公司"）股票（证券 代码：000430，证券简称：ST 张家界）于 2025 年 4 月 17 日、2025 年 4 月 18 日、2025 年 4 月 21 日连续三个交易日收盘价格涨幅偏离 值累计超过-15.95%，根据深圳证券交易所的有关规定，属于股票交 易异常波动的情形。 二、公司关注及核实情况说明 针对股票交易异常波动，公司对有关事项进行了核查，公司董事 会通过现场、短信等问询方式，对公司控股股东及实际控制人、公司 董事、监事及高级管理人员就相关问题进行了核实，现将有关情况说 明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司于 2024 年 8 月 26 日披露了《关于全资子公司被债权人 申请重整的提示性公告》，于 2024 年 9 月 18 日披露了《关于法院裁 定受理全资子公司重整并指定管理人的公告》，于 2024 年 9 月 24 日 披露了《关于法院同意全资子公司在重整期间继续营业及自行管理财 产和营业 ...