Core Viewpoint - Hong Kong China Travel International Investment Co., Ltd. has acquired Vanke's Jilin Songhua Lake International Resort Development Co., Ltd. and Beijing Wanbingxue Sports Co., Ltd., marking its first large-scale ski resort project and a significant step in promoting the ice and snow economy and revitalizing the cultural tourism industry in Northeast China [1][11]. Industry Summary - The ice and snow tourism market in China is experiencing robust growth, with participation expected to reach 520 million person-times in the 2024-2025 season, a year-on-year increase of 18%, and total revenue exceeding 630 billion RMB [3]. - The State Council has set ambitious targets for the ice and snow economy, aiming for a total scale of 1.2 trillion RMB by 2027 and 1.5 trillion RMB by 2030, indicating sustained growth in the sector [3]. Company Summary - Songhua Lake Resort is positioned as a premier winter tourism destination, located in Jilin City, which is part of the "golden latitude belt" for snow sports, comparable to the Alps and Rockies [4]. - The resort features a skiing area of 220 hectares with 50 ski trails, accommodating up to 15,000 skiers simultaneously, and has received over 9 million visitors in its ten years of operation [7]. - The acquisition of Wanbingxue Company provides access to a professional team and resources, enhancing the company's capabilities in managing ski resorts and expanding its operational footprint [11]. - China Travel International has over 60 tourism projects under its management, including 17 5A scenic spots and 21 4A scenic spots, demonstrating its comprehensive operational capabilities in the tourism sector [13].
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