Group 1 - The upcoming National Day and Mid-Autumn Festival holidays are driving a surge in certain tourism-related stocks in the A-share market [1] - Guilin Tourism has reached its daily limit increase, while Xi'an Tourism has risen nearly 7% [1] - Other companies such as Lijiang Co., Xiangyuan Cultural Tourism have increased by nearly 5%, and Jiuhua Tourism and China Youth Travel have risen over 3% [1]

Core Insights - The tourism and scenic spots sector experienced a rise of 2.37% on September 18, with Yunnan Tourism leading the gains [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Sector Performance - Yunnan Tourism (002059) saw a closing price of 6.68, with a significant increase of 10.05% and a trading volume of 1.1964 million shares, amounting to a transaction value of 765 million [1] - Qujiang Cultural Tourism (600706) also performed well, closing at 11.87 with a rise of 10.01% and a trading volume of 547,300 shares, resulting in a transaction value of 630 million [1] - Other notable performers included Tibet Tourism (600749) with a 7.06% increase, closing at 23.96, and Xi'an Tourism (000610) with a 6.69% increase, closing at 15.00 [1] Capital Flow - The tourism and scenic spots sector saw a net inflow of 232 million in main funds, while retail investors experienced a net outflow of 216 million [2][3] - The main funds' net inflow for Qujiang Cultural Tourism was 126 million, while it faced a net outflow of 48.38 million from speculative funds [3] - Tibet Tourism had a net inflow of 82.42 million from main funds, with a net outflow of 33.97 million from speculative funds [3]

Group 1 - The upcoming National Day and Mid-Autumn Festival holidays are driving an increase in certain tourism-related stocks in the A-share market [1] - Xi'an Tourism stock has risen over 6%, while Dalian Shengya has increased nearly 4% [1] - Other companies such as Lijiang Co., Lingnan Holdings, and Guilin Tourism have also seen their stocks rise by over 2% [1]

Core Viewpoint - The company, Guilin Tourism Co., Ltd., is currently involved in a legal dispute regarding a share transfer, with an appeal process underway that has not yet reached a hearing stage [2][3]. Group 1: Litigation Overview - The company filed a civil lawsuit on April 10, 2024, regarding a share transfer dispute with specific individuals and a design engineering company [3]. - The amount involved in the case includes a 35% equity stake and approximately 44.3 million yuan [2]. - The company has appealed a civil judgment received on July 18, 2025, and the appeal has been accepted by the intermediate court [4]. Group 2: Parties Involved - The appellant (original plaintiff) is Guilin Tourism Co., Ltd., while the respondents (original defendants) include Liu Meixi and Guangxi Guizhen Decoration Design Engineering Co., Ltd. [5]. - The appeal requests the maintenance of the first judgment and the revocation of the second judgment, which includes claims for damages and penalties totaling approximately 33.68 million yuan [5]. Group 3: Financial Implications - The ongoing litigation is not expected to have a substantial impact on the company's production and operations, and the effect on current or future profits remains uncertain [2][6]. - Other minor litigation and arbitration matters involving the company amount to approximately 13.36 million yuan, representing 1.25% of the company's audited net assets as of December 31, 2024 [6].

证券代码：000978 证券简称：桂林旅游 公告编号：2025-043 桂林旅游股份有限公司诉讼进展公告 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.案件所处的诉讼阶段：上诉已受理，二审尚未开庭 2.公司所处的当事人地位：上诉人（一审原告） 3.涉案的金额：桂林桂圳投资置业有限责任公司 35%股权及 4,430.2567 万 元（暂计数） 4.对公司损益产生的影响：法院已受理上诉，目前二审尚未开庭，对公司的 生产经营无实质影响，对公司本年度或期后利润的影响尚不能确定。 一、本次诉讼基本情况 桂林旅游股份有限公司（以下简称"公司"）于 2024 年 4 月 10 日向桂林市 象山区人民法院（以下简称"象山法院"）提交了《民事起诉状》，就与文良天、 刘美希、广西桂圳装饰设计工程有限公司股权转让纠纷事宜向象山法院提起诉讼。 2025 年 7 月 18 日，公司收到象山法院作出的《民事判决书》，具体详见公 司 2025 年 7 月 22 日 在 《 中 国 证 券 报 》 《 证 券 时 报 》 以 及 巨 潮 资 讯 网 （www.cninfo. ...

Market Overview - The tourism and scenic spots sector experienced a decline of 1.43% on September 17, with Xiyu Tourism leading the drop [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Stock Performance - Notable gainers included Yunnan Tourism, which rose by 9.96% to a closing price of 6.07, with a trading volume of 1.29 million shares and a transaction value of 770 million [1] - Other stocks like Tibet Tourism and Emei Mountain A also showed slight increases, while several stocks, including Xiyu Tourism and Zhenfu Cultural Tourism, saw declines of 3.95% and 1.52%, respectively [2][1] Capital Flow - The tourism and scenic spots sector saw a net outflow of 717 million from main funds, while retail investors contributed a net inflow of 653 million [2] - The capital flow data indicates that Yunnan Tourism had a net inflow of 96.73 million from main funds, while Emei Mountain A and Tibet Tourism also experienced positive net inflows [3]

Market Overview - On September 15, the tourism and scenic spots sector rose by 0.12% compared to the previous trading day, with Xiyu Tourism leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Key Performers - Xiyu Tourism (300859) closed at 51.06, up 5.34% with a trading volume of 202,300 shares and a transaction value of 1.019 billion [1] - Songcheng Performance (300144) closed at 9.19, up 2.11% with a trading volume of 926,800 shares [1] - Other notable performers include Xi'an Tourism (000610) up 1.53%, Huangshan Tourism (600054) up 0.90%, and Guilin Tourism (000978) up 0.58% [1] Decliners - Longzi Mountain (603099) closed at 50.03, down 2.91% with a trading volume of 123,300 shares [2] - Dalian Shengya (600593) closed at 37.32, down 1.84% with a trading volume of 58,400 shares [2] - Other notable decliners include Lingnan Holdings (000524) down 1.43% and ST Zhangjiajie (000430) down 0.99% [2] Capital Flow - The tourism and scenic spots sector experienced a net outflow of 401 million in main funds, while retail investors saw a net inflow of 361 million [2] - Speculative funds had a net inflow of 39.31 million [2] Individual Stock Capital Flow - Songcheng Performance saw a main fund net outflow of 19.2 million, while retail investors had a net outflow of 23.37 million [3] - Qujiang Cultural Tourism (600706) had a main fund net inflow of 7.83 million, but a retail net outflow of 8.67 million [3] - Huangshan Tourism (600054) recorded a main fund net inflow of 7.2 million, with retail investors experiencing a net outflow of 4.23 million [3]

Group 1 - The company, Guilin Tourism Co., Ltd., has provided a guarantee and mortgage for a loan of up to 60 million yuan (approximately 8.82 million USD) taken by its wholly-owned subsidiary, Shengdong Lianhua Performing Arts Development Co., Ltd. [2] - As of June 30, 2025, the outstanding loan principal balance was 48.05 million yuan (approximately 7.06 million USD) [2] - On September 9, 2025, the company was notified that Shengdong Lianhua had fully repaid the loan principal and interest, leading to the release of the guarantee responsibility [3] Group 2 - After the release of the guarantee responsibility, the total amount of external guarantees by the company and its subsidiaries is 88.2 million yuan (approximately 12.93 million USD), which accounts for 8.23% of the company's latest audited net assets attributable to shareholders [4] - As of the date of the announcement, the company has no overdue guarantees and there are no guarantees involved in litigation or that would result in liability due to a judgment against the company [4]

Summary of Key Points - The company Guilin Tourism announced that its subsidiary Yinziyan provided a guarantee for a loan application of up to 60 million yuan by its wholly-owned subsidiary Shengdong Lianhua from Agricultural Bank of China Xiangshan Branch [2] - As of June 30, 2025, the principal balance of the loan was 48.05 million yuan, which was fully repaid along with interest by September 9, 2025, leading to the release of the guarantee responsibility [2] - After the release of the guarantee, the total amount of external guarantees provided by the company and its subsidiaries was 88.2 million yuan, accounting for 8.23% of the latest audited net assets attributable to the shareholders of the company [2]

一、担保情况概述 证券代码：000978 证券简称：桂林旅游 公告编号：2025-042 桂林旅游股份有限公司 关于控股子公司解除担保的公告 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。 桂林荔浦银子岩旅游有限责任公司（以下简称"银子岩公司"）为桂林旅游股 份有限公司（以下简称"公司"）的控股子公司；桂林生动莲花演艺发展有限公司 （以下简称"生动莲花公司"）为银子岩公司的全资子公司。 根据项目建设需要，生动莲花公司向中国农业银行股份有限公司桂林象山支 行（以下称"农行象山支行"）申请借款，借款本金不超过 6,000 万元，借款期限 10 年。银子岩公司为该项借款提供保证担保和抵押担保，担保本金不超过 6,000 万元。具体详见公司 2021 年 11 月 17 日发布的《桂林旅游股份有限公司关于控 股子公司提供保证担保和抵押担保的公告》（公告编号：2021-052）。 本次担保责任解除后，公司及控股子公司对外担保的总金额为 8,820 万元， 占公司最近一期经审计归属于公司股东净资产的 8.23%。截至本公告披露日，公 司无逾期担保；不存在涉及诉讼的担保及因 ...