一、召开会议的基本情况 1、股东会届次：2026 年第一次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所股票上市规则》 《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等法律、行政法规、 部门规章、规范性文件及《公司章程》的有关规定。 证券代码：000888 证券简称：峨眉山Ａ 公告编号：2025-65 峨眉山旅游股份有限公司 关于召开 2026 年第一次临时股东会的通知 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。 4、会议时间： （1）现场会议时间：2026 年 01 月 08 日 15:00 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2026 年 01 月 08 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时 间为 2026 年 01 月 08 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2025 年 12 ...

证券代码：000888 证券简称：峨眉山A 公告编号：2025-61 峨眉山旅游股份有限公司 第五届董事会第一百五十一次会议决议公告 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、董事会会议召开情况 峨眉山旅游股份有限公司（以下简称"公司"）第五届董事 会第一百五十一次会议于2025年12月19日在公司会议室召开。 会议通知于 2025 年 12 月 16 日以书面、短信方式发出。本次会 议应参加会议董事 5 人，实际参加会议董事 5 人。会议由董事长 许拉弟主持，公司部分高级管理人员列席会议。本次会议召开符 合《中华人民共和国公司法》和《公司章程》的有关规定。 二、会议审议情况 经董事会审议并表决，通过以下决议： （一）审议通过《关于提名公司第六届董事会非独立董事候 选人的议案》 鉴于公司第五届董事会任期已届满，经公司董事会提名委员 会审查，公司董事会同意提名许拉弟先生、童建明先生、方俊先 生为公司第六届董事会非独立董事候选人，公司第六届董事会董 1 事任期自股东会审议通过之日起三年。 鉴于公司取消了监事会，监事会的职权由董事会审计委员会 行使，自 2 ...

（编辑 丛可心） 证券日报网讯 12月18日晚间，峨眉山A发布公告称，公司2025年第三季度利润分配方案为：以截至2025 年9月30日的总股本526，913，102股为基数，向全体股东按每10股派发现金股利0.8元（含税），共计 派发现金股利人民币42，153，048.16元（含税），不送红股，不以资本公积金转增股本。股权登记日 为2025年12月25日，除权除息日为2025年12月26日。 ...

Investment Rating - The report maintains an "Overweight" investment rating for the consumer services industry, expecting the industry index to outperform the market index by over 10% in the next six months [29]. Core Insights - The macroeconomic environment is experiencing fluctuations, and increasing domestic demand to boost consumption has become a crucial driver for economic growth. Recent policies have significantly enhanced support for service consumption, including a notice from the Ministry of Commerce to strengthen financial collaboration and support for service consumption [29][19]. - The consumer services industry index experienced a slight decline of 0.52% from December 5 to December 18, 2025, underperforming the CSI 300 index by approximately 0.66 percentage points [7]. - The report highlights a divergence in the performance of sub-sectors within the consumer services industry, with the education sector showing strength while the tourism and leisure sector faced challenges due to risks associated with major stakeholders [8][11]. - The overall price-to-earnings (PE) ratio for the consumer services industry is approximately 37.57 times, remaining stable compared to the previous period but below the average valuation of 43.42 times since 2016 [14]. Summary by Sections Market Review - The consumer services industry index showed a slight decline, ranking sixteenth among all CITIC first-level industry indices [7]. - Sub-sector performance varied, with comprehensive services and tourism leisure declining by 3.42% and 2.86%, respectively, while the education sector increased by 4.22% [8]. - A total of 31 listed companies in the industry achieved positive returns, with the top five performers being China High-Tech, Zhonggong Education, Tianmu Lake, Qujiang Cultural Tourism, and Doushen Education, with increases ranging from 10.11% to 17.76% [11]. - The industry’s overall PE ratio is approximately 37.57 times, which is lower than the historical average [14]. Industry News - The Ministry of Commerce issued a notice to enhance support for service consumption, focusing on various sectors including hospitality, education, and tourism [19]. - Hunan Province is promoting strategic mergers and acquisitions in the cultural tourism sector to support quality enterprises [18]. Company Announcements - China Duty Free Group won bids for two duty-free segments at Shanghai Airport, marking a significant expansion in its operations [23]. - Xiangyuan Cultural Tourism's major shareholder faces judicial freezes on shares, which may impact the company's stability [24]. Weekly Outlook - The report suggests focusing on themes such as ice and snow tourism and duty-free shopping as potential catalysts for growth in the consumer services sector. Recommended stocks include Jinjiang Hotels, Changbai Mountain, Emei Mountain A, and China Duty Free [29][30][32].

1.公司 2025 年第三季度利润分配方案为：以截至 2025 年 9 月 30 日的总股本 526,913,102 股为基数，向全体股东按每 10 股 派发现金股利 0.8 元（含税），共计派发现金股利人民币 42,153,048.16 元（含税），不送红股，不以资本公积金转增股 本。若本次利润分配方案实施前公司总股本发生变化的，公司将 按照分配总额固定不变的原则进行调整。 2.自权益分派方案披露至实施期间公司股本总额未发生变 化。 证券代码：000888 证券简称：峨眉山A 公告编号：2025-60 峨眉山旅游股份有限公司 2025年第三季度权益分派实施公告 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。 峨眉山旅游股份有限公司（以下简称"公司"或"本公司"） 2025 年第三季度权益分派方案已获公司 2025 年 11 月 18 日召开 的 2025 年第三次临时股东会审议通过，现将权益分派事宜公告 如下： 一、股东会审议通过权益分派方案情况 3.本次实施的分派方案与 2025 年第三次临时股东会审议通 1 过的分派方案及其调整原则一致。 4.本次实施分 ...

峨眉山A公告，公司2025年第三季度利润分配方案为：以截至2025年9月30日的总股本526,913,102股为 基数，向全体股东按每10股派发现金股利0.8元（含税），共计派发现金股利人民币42,153,048.16元（含 税），不送红股，不以资本公积金转增股本。若本次利润分配方案实施前公司总股本发生变化的，公司 将按照分配总额固定不变的原则进行调整。 ...

Core Viewpoint - The cultural tourism industry is entering a new phase characterized by expanding boundaries and deepening integration, with "cultural tourism + various industries" becoming the core driving force for development [1] Group 1: Cultural Experience Enhancement - The company aims to create immersive cultural experiences by leveraging unique resources such as heritage, martial arts, and ecological culture, utilizing technologies like AR/VR and holography to transform static heritage into dynamic narratives [2] - The development of an interactive project series called "Virtual-Reality Cross" is planned to enhance cultural engagement, alongside the establishment of an "Emei Mountain Metaverse" platform in collaboration with leading internet companies [2] Group 2: Infrastructure Improvement and Service Upgrade - The company is systematically upgrading infrastructure across the mountain, having completed approximately 6,000 square meters of trail renovations and over 2,000 updates to public service facilities [3] - A comprehensive environmental monitoring and smart scheduling network is being constructed, along with a "Warm Service" initiative to provide multilingual, accessible, and family-oriented support [3] Group 3: Cross-Industry Integration and Technological Warmth - The company is expanding the "cultural tourism +" model into areas such as health care, sports, education, cultural creativity, and festivals, creating a healing system and hosting innovative events like "VR Mountain Climbing Competitions" [4] - Emphasis is placed on the integration of technology with content and scenarios, highlighting the importance of humanistic care and emotional connections in technological applications [4] - The company is committed to preserving ecological integrity while embracing innovation, aiming to establish a world-class mountain cultural tourism benchmark through continuous exploration [4]

Core Viewpoint - The article discusses a new trend in the A-share market where companies are engaging in "physical dividends" to enhance shareholder experience and interaction, moving beyond traditional cash dividends and stock bonuses [1][2]. Group 1: Shareholder Engagement Initiatives - Emei Mountain A plans to offer free entrance tickets to its scenic area for shareholders holding more than 500 shares as part of its 2025 shareholder reward program [1]. - Over 30 listed companies have initiated similar engagement activities, providing products, coupons, and tourism rights to their investors [1][2]. - The trend includes a variety of sectors, such as food, home appliances, health products, and cultural tourism, showcasing a diverse approach to shareholder rewards [2]. Group 2: Benefits of Physical Dividends - Physical dividends can create a closed-loop ecosystem of "investment-consumption," enhancing shareholders' understanding of the company's product strength and brand vitality [6]. - This approach can serve as a low-cost, high-return brand public relations strategy, transforming shareholders into brand advocates through personal product experiences [6]. - It aligns with regulatory goals to enhance investor satisfaction, providing tangible rewards that can improve investor sentiment amidst market volatility [7]. Group 3: Risks and Challenges - There is a risk of prioritizing physical rewards over fundamental company performance, which could lead to shareholder dissatisfaction if the company's financial health is not strong [8]. - The disparity in shareholding can create fairness issues, potentially alienating minority shareholders while favoring larger ones [8]. - Implementing a physical rewards system introduces new operational costs and management challenges, which could backfire if not handled properly [8]. Group 4: Strategic Insights for Consumer Companies - Companies must ensure their products can impress even the most discerning shareholders, as this reflects their broader market potential [9]. - The goal should be to transition shareholders from passive investors to active partners in the company's growth, fostering a sense of shared identity and collaboration [9]. - Compliance with regulations is crucial to avoid legal risks, ensuring that all reward initiatives are transparent and fair [9][10]. Group 5: Conclusion on Value Creation - The ultimate aim of these initiatives is to create a value-sharing ecosystem among brands, users, and investors, moving beyond short-term stock price fluctuations [11]. - Companies should strive to make every shareholder a passionate advocate for their products, enhancing long-term loyalty and brand strength [11].

Core Viewpoint - The Hainan sector has shown significant strength, with a notable increase in stock prices following the release of the "14th Five-Year Plan" proposals, which aim to enhance the free trade port policy and stimulate economic growth in the region [1][4][6]. Group 1: Market Performance - The Hainan sector experienced a substantial rise, with an overall increase of over 5% and the Wind Hainan Free Trade Port Index rising by 6.6% [1][2]. - Specific stocks such as Shennong Agricultural, Xilong Holdings, and Haide Shares reached their daily limit up, with Shennong Agricultural seeing a 20.07% increase [1][3]. Group 2: Policy Implications - The "14th Five-Year Plan" emphasizes the acceleration of the free trade port policy system, aiming to significantly enhance trade liberalization and facilitation [4][5]. - Key initiatives include optimizing the tax system, improving foreign investment access, and establishing a competitive tax regime to attract businesses [5][6]. Group 3: Investment Opportunities - The implementation of the free trade port policies is expected to create new investment themes, particularly in tourism, modern services, and high-tech industries, which are projected to benefit from zero tariffs and other incentives [6][7]. - The upcoming full island closure operation on December 18 is anticipated to further stimulate investment in Hainan, with a focus on traditional industry upgrades and emerging sectors [6][7]. Group 4: Sector Focus - The newly added encouraged industries in the Hainan Free Trade Port include cultural tourism, renewable energy, healthcare, aerospace, and ecological protection, which are expected to attract quality enterprises [7].

Core Viewpoint - The trend of "physical dividends" is gaining momentum in the A-share market, with over 30 companies offering unique shareholder rewards that integrate their business and products in 2025 [2] Group 1: Overview of Physical Dividends - Companies are increasingly engaging in shareholder reward activities, with examples including tickets, food items, and discounts, reflecting a wave of "creative rewards" in the capital market [2][5] - The concept of "physical dividends" is popular among investors, who refer to these stocks as "wool stocks" that can be passed down through generations [2] - Experts warn that while this trend can strengthen shareholder relationships if aligned with long-term strategies, it risks becoming a short-term marketing gimmick if it deviates from core business [2] Group 2: Examples of Shareholder Rewards - Emei Mountain A (000888.SZ) offers tickets, cable cars, hotels, hot springs, skiing, and tea as rewards for shareholders holding over 500 shares [4] - Qianwei Central Kitchen (001215.SZ) provides product gift packages for shareholders holding 100 shares or more [4] - Other companies like Hainan Airlines (600221.SH) and Xiangxiang Cultural Tourism (600576.SH) offer various discounts and free access to attractions for all shareholders [4][5] Group 3: Industry Trends and Patterns - The consumer sector, particularly food and beverage, remains the primary driver of "creative rewards," with companies like Wufangzhai (603237.SH) giving out rice dumpling gift boxes [5] - Many companies have established regular "physical dividend" mechanisms, such as Xiangyuan Cultural Tourism (600576.SH), which has been rewarding shareholders for three consecutive years [6] - Continuous rewards are seen in companies like Zhongjing Food (300908.SZ), which provides mushroom sauce annually, and Jiahua Food (605300.SH), which has been giving coffee products for five years [7] Group 4: Strategic Implications - The trend of "physical dividends" represents a shift in investor relations management from a focus on financial returns to a more interactive value creation approach [8][9] - This strategy allows companies, especially small to mid-cap consumer firms, to reduce financial pressure while enhancing shareholder loyalty and market reach [10] - However, the sustainability of this model is questioned, as it relies heavily on the event's popularity and lacks fundamental support, which may lead to stock price volatility [10]