长白山跌2.05%，成交额3.20亿元，主力资金净流出1375.67万元

Core Viewpoint - Changbai Mountain's stock price has shown fluctuations, with a year-to-date increase of 19.61% and a recent decline over the past 20 days, indicating potential volatility in the tourism sector [1][2]. Company Overview - Changbai Mountain Tourism Co., Ltd. was established on December 8, 2010, and listed on August 22, 2014. The company operates in the tourism service industry, focusing on passenger transport, travel agency services, and hot spring water development [1]. - The main revenue sources are: passenger transport (66.82%), hotel services (24.09%), other businesses (6.82%), and travel agency services (2.28%) [1]. Financial Performance - For the period from January to September 2025, Changbai Mountain reported revenue of 636 million yuan, a year-on-year increase of 6.99%, and a net profit attributable to shareholders of 149 million yuan, up 1.05% [2]. - Since its A-share listing, the company has distributed a total of 144 million yuan in dividends, with 42.53 million yuan distributed over the past three years [2]. Stock Market Activity - As of December 3, the stock price was 50.28 yuan per share, with a market capitalization of 13.694 billion yuan. The stock experienced a net outflow of 13.76 million yuan in principal funds on that day [1]. - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on November 5, where it recorded a net buy of -69.6151 million yuan [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 25.35% to 45,900, with an average of 5,814 circulating shares per person, a decrease of 20.23% [2][3]. - Notable institutional shareholders include Hong Kong Central Clearing Limited and various ETFs, with some new entrants and exits among the top ten circulating shareholders [3].