Nan Fang Du Shi Bao·2025-08-11 15:19Core Viewpoint - Zhujiang Piano has acquired the management rights of the Bai Shui Xian Waterfall Scenic Area, aiming to transform it into a national 5A tourist attraction within five years, amidst a significant decline in its main business revenue [2][3][12]. Group 1: Acquisition Details - Zhujiang Piano's subsidiary, Guangzhou Bai Shui Zhai Scenic Area Operation Management Co., Ltd., won the bid for the Bai Shui Xian Waterfall Scenic Area, with a contract period of 20 years and a minimum investment of 400 million yuan [3][7]. - The annual resource usage fee for Zhujiang Piano is set at 8.43 million yuan, which is lower than the previous operator, Overseas Chinese Town Group [3][8]. - The company plans to enhance the scenic area through investment, development, management, and marketing efforts [7][12]. Group 2: Strategic Goals and Challenges - The company aims to increase annual visitor numbers by 1.5 million and integrate surrounding resources to promote rural industry upgrades [12][15]. - Zhujiang Piano has hired experienced personnel from the cultural tourism industry to lead the project, indicating a strategic shift towards cultural services [12][15]. - The company has faced a significant decline in revenue, with a 39.97% drop in 2024, leading to a net loss of 236 million yuan [15][16]. Group 3: Previous Operator's Performance - The previous operator, Overseas Chinese Town Group, failed to achieve the goal of upgrading the scenic area to a 5A rating within their operational period [8][10]. - The Bai Shui Xian Waterfall Scenic Area is currently rated as a 4A scenic area, with an annual visitor count of approximately 500,000 [8][10]. - Issues such as aging facilities and limited attractions have been noted, which Zhujiang Piano aims to address [8][12].