Zhong Guo Zheng Quan Bao·2025-12-08 04:41Core Viewpoint - The trend of companies offering "physical dividends" to shareholders is increasing, with over 30 listed companies implementing various shareholder reward activities this year, particularly in the tourism and food sectors [1][3][10]. Group 1: Company Initiatives - Qianwei Yangchu announced a shareholder reward activity where shareholders holding 100 shares or more can receive a product gift package worth 200 yuan, while corporate shareholders can receive three packages [3]. - Emei Mountain A has launched a shareholder reward program allowing shareholders holding 500 shares or more to enjoy free admission to the scenic area and other benefits from December 1 to January 31, 2026 [5]. - Xiangyuan Cultural Tourism initiated the "Xiangyuan Cultural Tourism 2025 Shareholder Reward" program, offering multiple benefits including free access to key scenic spots and hotel stay discounts [6][8]. Group 2: Market Analysis - Market analysts suggest that these shareholder benefits serve as a marketing and communication innovation, emphasizing the importance of focusing on the company's long-term value rather than short-term rewards [10]. - The nature of these physical or rights-based rewards differs fundamentally from the ongoing cash dividends advocated by regulators, often leading to short-term stimulation effects [10]. - Investors are advised to maintain a rational perspective on these activities, as they may create emotional trading opportunities but lack sustainability in driving long-term company performance [10].