Zhong Guo Jing Ji Wang·2025-11-08 08:54Core Viewpoint - Shaanxi Tourism Cultural Industry Co., Ltd. has passed the IPO review by the Shanghai Stock Exchange, marking it as the 70th company approved for listing this year, with a focus on leveraging high-quality tourism resources for enhanced visitor experiences [1][2]. Group 1: Company Overview - Shaanxi Tourism integrates various tourism-related services, including performance, cable cars, dining, and project investment and management, capitalizing on resources like Huaqing Palace and Huashan Mountain [1]. - The controlling shareholder of Shaanxi Tourism is Shaanxi Tourism Group Co., Ltd., which holds 47.59% of the shares directly and an additional 6.69% indirectly through Shaanxi Tourism Development Co., Ltd. [2]. Group 2: IPO Details - The company plans to publicly issue up to 19.333334 million shares on the Shanghai Stock Exchange, representing no less than 25% of the total share capital post-issuance [2]. - The IPO aims to raise approximately 1.5551279 billion yuan, which will be allocated to several projects, including the construction of the Taishan Xiucheng Phase II project and the expansion of cable car services at Shaohua Mountain National Forest Park [2]. Group 3: Market and Performance Inquiry - The listing committee raised inquiries regarding the sustainability of the company's products and revenue, the stability of its operating performance, and the adequacy of risk disclosures related to its key projects, including the "Chang Hen Ge" performance and cable car operations [3]. - Questions were also posed about the operational metrics such as attendance rates and profit margins for the Taishan Xiucheng Phase I project, assessing the rationale for further investment in the Phase II project [3].