Summary of Conference Call on Cultural Tourism and Sports Events Industry Overview - The conference call focused on the cultural tourism and sports events sectors, highlighting the impact of new government policies on these industries, particularly in 2026 [1][2]. Key Points and Arguments Government Policies - The 2026 government work report emphasizes "high-quality development of the cultural tourism industry" and supports the implementation of paid leave and staggered holidays, which is expected to boost tourism demand significantly [2][3]. - The introduction of "spring and autumn breaks" is anticipated to enhance off-peak capacity utilization in major tourist attractions, improving revenue and profit stability [3]. Company Highlights - **Lijiang Co.**: - The company is set to expand its Yak Niu Ping cableway in March 2026, increasing capacity from 360 to 1,900 passengers per hour, which is expected to alleviate long-standing visitor bottlenecks and enhance profits post-2028 [1][8]. - Post-pandemic, Lijiang's revenue and profits have surpassed pre-pandemic levels, driven by improved transportation infrastructure and increased visitor flow [10]. - **Song City Performance**: - The company anticipates a slight increase in visitor numbers for its "Eternal Love" projects in Q1 2026, supported by new policies that extend travel windows [5]. - The company is also developing a light-asset project in Qingdao and a heavy-asset project in Thailand, which are expected to contribute to growth [5]. - **Jiuhua Tourism**: - The company focuses on cultural tourism with a high repeat visitor rate, driven by its Buddhist cultural experiences. The Lion Peak cableway project is expected to contribute to revenue growth starting in late 2026 [6][7]. - **JunTing Hotels**: - Positioned as a leading domestic high-end hotel brand, benefiting from the growth in high-end demand and the advancement of REITs [4]. - **Lisheng Sports**: - The company plans to enter the golf sector in 2025, maintaining a revenue growth rate of over 10% [1]. Market Dynamics - The sports events economy is highlighted as a new focus area in the government report, with an emphasis on developing more community sports events [2]. - The sports venue operation sector is transitioning to a light-asset model, enhancing operational efficiency and profitability [12][13]. Valuation Insights - Current valuations for tourism and hotel stocks have returned to relatively low levels, suggesting potential for re-evaluation as demand increases [2][4][5]. - Jiuhua Tourism is estimated to have a valuation of around 20 times earnings, which is considered attractive compared to peers [6][7]. Risks and Considerations - The overall performance of Lijiang Co. has been stable, but there is a need for improved visitor growth to enhance profitability further [10]. - The sports industry is still in its early stages of marketization, which may limit immediate profitability for many companies [15][16]. Additional Important Content - The conference highlighted the importance of cultural attributes in driving repeat visits, particularly for Jiuhua Tourism, which differentiates itself from typical tourist attractions [6]. - The potential for increased collaboration between tourism and sports sectors is noted, with companies like Lisheng Sports and JunTing Hotels positioned to benefit from this trend [1][4][12]. This summary encapsulates the key insights from the conference call, focusing on the implications of government policies, company strategies, market dynamics, and valuation considerations within the cultural tourism and sports events sectors.

证券代码：002858 证券简称：力盛体育 公告编号：2026-008 力盛云动（上海）体育科技股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 力盛云动（上海）体育科技股份有限公司（以下简称"公司"）于 2025 年 5 月 13 日召开第五届董事会第十次会议，审议通过了《关于以集中竞价交易方 式回购股份方案的议案》，公司决定使用自有资金、自筹资金及股票回购专项贷 款以集中竞价交易方式回购公司发行的 A 股社会公众股，用于员工持股计划或 者股权激励。回购资金总额不超过人民币 4,000 万元（含）且不低于人民币 2,000 万元（含），本次回购股份价格上限不超过人民币 17.00 元/股（含）。若以回购 金额上限 4,000 万元、回购价格上限 17.00 元/股测算，预计回购股份数量约为 235.29 万股，约占公司目前已发行总股本的 1.44%；若以回购金额下限人民币 2,000 万元、回购价格上限 17.00 元/股测算，预计回购股份数量约为 117.65 万股， 约占公司目前已发行总股本的 0.72%。回购股份 ...

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].

Core Viewpoint - The company plans to increase its investment in the Hainan Development Center to accelerate its strategic business layout in Hainan, with a total capital increase of 37.5 million yuan [1] Group 1: Investment Details - The company intends to invest 37.5 million yuan in the Hainan Development Center using its own funds, with the possibility of using raised funds if available [1] - The investment will increase the registered capital of the Hainan Development Center from 245 million yuan to 307.5 million yuan [1] - The company will maintain a 60% ownership stake in the Hainan Development Center after the capital increase, with no change in the scope of the consolidated financial statements [1] Group 2: Stakeholder Actions - The company plans to sign a capital increase agreement with Hainan Development Center, Haizhi Investment, and Hailv Investment [1] - Haizhi Investment will waive its preferential subscription rights for this capital increase [1]

Group 1 - The company, Lisheng Sports, announced that its fifth board meeting was held on February 10, 2026, in Shanghai, combining in-person and remote voting methods [1] - The meeting reviewed documents including a proposal for capital increase in its controlling subsidiary [1]

证券代码：002858 证券简称：力盛体育 公告编号：2026-007 力盛云动（上海）体育科技股份有限公司 关于对控股子公司增资的公告 重要内容提示： 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 一、增资事项概述 海南智慧新能源汽车发展中心有限公司（以下简称"海南发展中心"）是力 盛云动（上海）体育科技股份有限公司（以下简称"公司"）控股子公司，注册 资本 24,500 万元，公司持有海南发展中心 60%股权，海南智慧新能源汽车生态 园投资有限公司（以下简称"海智投"）持有海南发展中心 16.33%股权，海口 海旅德方投资开发有限公司（以下简称"海旅投"）持有海南发展中心 23.67% 股权。公司于 2026 年 2 月 10 日召开第五届董事会第十六次会议，审议通过了《关 于对控股子公司增资的议案》，为进一步满足海南发展中心项目建设和业务发展 需要，加快推进公司在海南的战略业务布局，公司拟以自有资金（若向特定对象 发行股票募集资金到位后，将按照相关法律、法规规定的程序以募集资金置换） 对海南发展中心增资 3,750.00 万元，海旅投增资 2,500. ...

证券代码：002858 证券简称：力盛体育 公告编号：2026-006 力盛云动（上海）体育科技股份有限公司 第五届董事会第十六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、会议召开情况 公司董事会认为，公司本次以自有资金（若向特定对象发行股票募集资金到 位后，将按照相关法律、法规规定的程序以募集资金置换）出资 3,750.00 万元对 控股子公司海南智慧新能源汽车发展中心有限公司增资，有助于加快推动海南国 际赛车场建设，符合公司战略规划和经营发展需要。董事会同意上述交易事项。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 具体内容详见同日披露于《中国证券报》《上海证券报》《证券时报》《证券 日报》及巨潮资讯网（http://www.cninfo.com.cn）的《关于对控股子公司增资的 公告》（公告编号：2026-007）。 三、备查文件 1、公司第五届董事会第十六次会议决议。 特此公告。 力盛云动（上海）体育科技股份有限公司 力盛云动（上海）体育科技股份有限公司（以下简称"公司"）第五届董事 会第十六次会议于 2026 年 2 ...

格隆汇2月2日丨力盛体育(002858.SZ)公布，截至2026年1月31日，公司通过回购专用证券账户以集中竞 价交易方式回购公司股份1,828,500股，占公司总股本的1.1155%，最高成交价为16.4000元/股，最低成 交价为12.3000元/股，成交总金额为23,935,111.00元（不含交易费用）。本次回购符合相关法律法规的 要求，符合公司既定的回购方案。 ...

Group 1 - The company Lisheng Sports announced on February 2 that it has repurchased approximately 1.83 million shares, accounting for 1.1155% of its total share capital, through a centralized bidding transaction [1] - The highest transaction price for the repurchased shares was 16.4 yuan per share, while the lowest was 12.3 yuan per share, with a total transaction amount of approximately 23.94 million yuan [1] Group 2 - The automotive sales giant Baolide, known for selling luxury cars such as Rolls-Royce and Porsche, is now undergoing bankruptcy liquidation, with its headquarters in Hangzhou reportedly abandoned and its subsidiary in Yiwu sealed [1]

证券代码：002858 证券简称：力盛体育 公告编号：2026-005 关于回购公司股份的进展公告 1、公司回购股份的时间、回购的股份数量、回购股份价格及集中竞价交易 的委托时段符合《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》 的相关规定。公司未在下列期间内回购股票： 力盛云动（上海）体育科技股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 力盛云动（上海）体育科技股份有限公司（以下简称"公司"）于 2025 年 5 月 13 日召开第五届董事会第十次会议，审议通过了《关于以集中竞价交易方 式回购股份方案的议案》，公司决定使用自有资金、自筹资金及股票回购专项贷 款以集中竞价交易方式回购公司发行的 A 股社会公众股，用于员工持股计划或 者股权激励。回购资金总额不超过人民币 4,000 万元（含）且不低于人民币 2,000 万元（含），本次回购股份价格上限不超过人民币 17.00 元/股（含）。若以回购 金额上限 4,000 万元、回购价格上限 17.00 元/股测算，预计回购股份数量约为 235.29 万股，约占公司目前已发行总股本的 ...