Core Viewpoint - Shaanxi Tourism (603402.SH) officially listed on the Shanghai Stock Exchange on January 6, 2026, with an opening price of 131.15 yuan, representing a 63.04% increase from the issue price of 80.44 yuan, marking it as the first new listing in the A-share market for 2026 and the first cultural tourism company in five years [2][3]. Company Overview - Shaanxi Tourism primarily engages in tourism performances, cable cars, and dining services, leveraging high-quality tourism resources such as Huaqing Palace and Huashan Mountain, with a strong cultural heritage and stable business operations [2]. - The company is known for its popular performances like "The Long Hate Song" and "12.12 Xi'an Incident," which have a good reputation among consumers, and its cable car business is recognized as a leader in technical indicators and industry reputation [2]. Market Context - The Central Economic Work Conference in December 2025 emphasized the importance of domestic demand and the construction of a strong domestic market as a primary task for 2026, advocating for actions to boost consumption and unleash the potential of service consumption [2]. - In June 2025, six ministries, including the China Securities Regulatory Commission and the People's Bank of China, issued guidelines to support consumer-oriented companies in listing and financing, promoting high-quality development in the consumption sector [2][3]. IPO Details - Shaanxi Tourism's IPO was approved by the CSRC on November 19, 2025, and the issuance process began on December 18, 2025, with a total of 19.333334 million shares offered through a direct pricing method, marking it as the first company in the Shanghai market to adopt this method under the registration system [3]. - The issue price was set at 80.44 yuan per share, corresponding to a 2024 price-to-earnings ratio of 12.37 times, with total fundraising amounting to 1.555 billion yuan, aligning with the expected fundraising scale disclosed in the prospectus [4].
开门红！陕西旅游登陆沪市首日开盘上涨63%