证券代码：000978 证券简称：桂林旅游 公告编号：2026-003 桂林旅游股份有限公司 关于董事会延期换届的提示性公告 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。 桂林旅游股份有限公司（以下简称"公司"）第七届董事会将于 2026 年 3 月 21 日任期届满。鉴于公司董事会换届工作尚在筹备中，为确保公司董事会相 关工作的连续性和稳定性，公司董事会将延期换届。公司第七届董事会董事、董 事会各专门委员会委员及高级管理人员的任期将相应顺延。 在董事会换届工作完成前，公司第七届董事会董事、董事会各专门委员会委 员及高级管理人员将按照相关法律法规和《公司章程》的有关规定，继续履行相 应职责。 公司董事会延期换届不会影响公司的正常运营。公司将根据相关工作进展情 况，尽快完成换届选举工作，并及时履行信息披露义务。 特此公告。 桂林旅游股份有限公司董事会 2026 年 3 月 20 日 ...

Investment Rating - The report maintains an "Overweight" rating for the retail industry [1] Core Insights - The government work report emphasizes the construction of a strong domestic market as a primary task for 2026, proposing various measures to boost consumption, including a 250 billion yuan special bond to support the replacement of consumer goods and a 100 billion yuan fund to promote domestic demand [3][8] - The report highlights the optimization of service consumption supply and the release of demand through financial tools, urban and rural income increases, and improved vacation systems for students and workers [3][9] - There is a strong focus on supporting new consumption and modern service industries through reforms in the ChiNext board, aiming to attract quality innovative enterprises for IPOs [3][9] - Investment suggestions include focusing on quality supply and reform-related stocks, particularly in service consumption and new consumption sectors [3][9] Summary by Sections Weekly Industry Insights - The report discusses the government's initiatives to enhance consumption, including urban and rural income plans, special bonds, and financial support for consumer loans [3][8] - It also mentions the importance of optimizing service consumption supply and developing new consumption scenarios to stimulate demand [3][8] Weekly Market Review - From March 2 to March 6, the retail index decreased by 3.91%, while the overall market indices showed varied performance, with the Shanghai Composite Index down by 0.93% [10] - Year-to-date, the retail index has declined by 6.82%, contrasting with positive performances in other sectors [10] Company Valuation Table - The report includes a detailed valuation table for various companies, indicating their market capitalization, closing prices, and projected earnings for 2024 to 2026, along with investment ratings [17][18]

Core Viewpoint - Guilin Tourism (000978) is expected to achieve a net profit of 11 million yuan in 2025, marking a successful turnaround from losses, driven by an increase in visitor numbers, asset optimization, and improved policy environment [1][2]. Group 1: Performance and Financial Situation - The company forecasts a net profit attributable to shareholders of 11 million yuan for 2025, successfully turning around from losses compared to the previous year [2]. - The improvement in performance is primarily due to a year-on-year increase in visitor numbers to approximately 6.25 million, recovery of past due payments, and gains from the disposal of inefficient assets [2]. - Despite the overall positive trend, the net profit excluding non-recurring gains remains negative, indicating ongoing challenges [2]. Group 2: Industry Policy and Environment - The "Guilin City Tourism Market Order Management Regulations" will take effect on December 1, 2025, focusing on addressing issues like "unreasonably low-priced tours" and establishing a satisfaction-based evaluation system for tourists [3]. - This regulation is expected to enhance the transparency and standardization of the Guilin tourism market, creating a more stable operating environment for local tourism enterprises [3]. Group 3: Strategic Initiatives - Guilin Tourism is actively implementing the "one core, one optimization, two wings, three expansions" strategy, aiming to enhance competitiveness through asset optimization, AI technology empowerment, and product innovation [4]. - The company reported a year-on-year increase of 9.97% in visitor reception in 2025, indicating a recovery momentum in its core business [4]. Group 4: Industry Policy Status - The domestic tourism market in 2025 is experiencing a strong recovery, with ongoing central and local government policies aimed at promoting consumption [5]. - As a leading tourism enterprise in Guangxi, Guilin Tourism is likely to benefit from the overall industry rebound and supportive policies [5].

Core Insights - Guilin Tourism (000978) reported that as of January 30, 2026, the total number of shareholders is 29,461 [1] Company Information - The company has engaged with investors through an interactive platform to provide updates on shareholder statistics [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]

Group 1 - The A-share market saw active performance in certain tourism stocks, with notable increases including Caesar Travel rising over 7%, and others like Hao Xiang Ni and Song Cheng Performing Arts increasing over 4% [1] - The State Council recently issued a work plan aimed at accelerating the cultivation of new growth points in service consumption, focusing on potential areas such as performance services, sports event services, and experiential services [1] - The plan emphasizes the improvement of infrastructure at travel destinations and promotes the enhancement and renovation of existing facilities [1] Group 2 - Specific stock performances include: - Caesar Travel (code: 000796) up 7.68% with a market cap of 10.3 billion and a year-to-date decline of 10.42% - Hao Xiang Ni (code: 002582) up 4.55% with a market cap of 5.758 billion and a year-to-date increase of 16.38% - Song Cheng Performing Arts (code: 300144) up 4.10% with a market cap of 22.7 billion and a year-to-date increase of 5.49% - Huangshan Tourism (code: 600054) up 3.67% with a market cap of 9.27 billion and a year-to-date increase of 12.93% - Other notable increases include Li'an Technology, Dongbai Group, and others with varying performances [2]

Market Overview - The tourism and scenic spots sector experienced a decline of 1.65% on January 27, with Sanxia Tourism leading the drop [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Stock Performance - Notable stock performances included: - Tianfu Culture and Tourism (000558) closed at 5.30, up 2.32% with a trading volume of 452,200 shares and a turnover of 236 million yuan [1] - Sanxia Tourism (002627) closed at 9.02, down 5.25% with a trading volume of 450,900 shares and a turnover of 411 million yuan [2] - Other stocks like Jiu Hua Tourism (661809) and Lingnan Holdings (000524) also saw declines of 0.61% and 0.72% respectively [1][2] Capital Flow - The tourism and scenic spots sector saw a net outflow of 440 million yuan from main funds, while retail investors contributed a net inflow of 418 million yuan [2] - The detailed capital flow for selected stocks showed: - Tianfu Culture and Tourism had a main fund net inflow of 41.04 million yuan, but retail investors had a net outflow of 22.57 million yuan [3] - Jiu Hua Tourism experienced a net outflow from main funds of 0.28% while retail investors had a net inflow of 0.55% [3]

Group 1 - The company, Guilin Tourism (000978), announced that it will disclose the number of shareholders at the end of each month at the beginning of the following month [1]

Group 1 - The core viewpoint of the article is that Guilin Tourism has signed a strategic cooperation agreement with Maiyue Technology to leverage their respective advantages in capital and industry, focusing on artificial intelligence and cultural tourism projects for mutual benefit [1] Group 2 - The collaboration will explore the integration of advanced technologies such as AI glasses, AR glasses, and translation cards aimed at the ASEAN market, showcased during the signing ceremony [1] - Future plans include the launch of co-branded products that will directly enhance tourism products and service upgrades through technological innovations [1]

Core Viewpoint - Guilin Tourism Co., Ltd. is expected to achieve a net profit of 11 million yuan in 2025, marking a successful turnaround from losses, with a basic earnings per share of 0.0235 yuan, indicating positive operational development and strategic transformation efforts [1][5]. Group 1: Financial Performance - The company anticipates a significant reduction in net losses for non-recurring profits in 2025, alongside a net profit of 11 million yuan [1][5]. - The company recovered 54.34 million yuan in overdue payments and reversed 19.99 million yuan in bad debt provisions, improving cash flow [6]. - The transfer of 100% equity and debt of Guilin Zijiang Danxia Tourism Co., Ltd. contributed approximately 29 million yuan to the net profit for the period [6]. Group 2: Strategic Initiatives - Guilin Tourism is implementing a strategy of "one core, one optimization, two wings, and three expansions," focusing on optimizing asset structure and resolving historical issues [6]. - The company is actively revitalizing dormant assets through tailored strategies, such as transforming the Tianzhitai Building into a multi-functional shopping center [6]. Group 3: Growth and Market Engagement - The company expects to receive approximately 6.25 million tourists in 2025, reflecting a year-on-year increase of 9.97%, showcasing the market's recognition of Guilin's tourism resources [2][6]. - Guilin Tourism is enhancing its product offerings through cultural tourism integration and cross-industry collaborations, including partnerships with top brands to develop high-end customized services [7]. Group 4: Technological Advancements - The company is leveraging AI technology for product innovation and operational efficiency, including the launch of an AI travel assistant and smart monitoring systems for cruise ships [8]. - The implementation of 5G Wi-Fi coverage in scenic areas and the introduction of AI interactive projects are part of the company's digital service enhancement efforts [8]. Group 5: Internal Reforms - Guilin Tourism is streamlining management structures and linking employee performance to compensation, which has led to a reduction in operating costs by approximately 911.77 thousand yuan in the first three quarters of 2025 [8]. - The company is implementing a performance-based reward system to boost employee motivation and creativity [8]. Group 6: Overall Business Outlook - The operational achievements in 2025 reflect the company's ongoing reforms and practical progress in addressing historical issues, indicating strong potential for core business development [9]. - The optimization of asset structure and the implementation of innovative measures are expected to provide substantial growth momentum for the company [9].