Ge Long Hui A P P·2026-01-28 07:15Core Viewpoint - Emei Mountain A is experiencing a recovery in visitor traffic, supported by shareholder rewards during the off-peak season, with expectations for improved capacity [1] Group 1: Visitor Traffic and Shareholder Rewards - During the New Year holiday from January 1 to January 3, 2026, the scenic area received 126,166 visitors, a 20.88% increase compared to the same period in 2024 [1] - Shareholder reward activities from December 1, 2025, to January 31, 2026, excluding statutory holidays, are expected to boost visitor traffic in December and January during non-holiday periods [1] Group 2: Capacity and Long-term Outlook - Improvements in transportation and capacity are anticipated, which will likely enhance long-term visitor traffic [1] - The company continues to provide cash dividends to shareholders, reflecting strong cash flow quality and a commitment to shareholder returns, which also aids in improving capital efficiency and investor return certainty [1] Group 3: Financial Forecast and Valuation - Due to weak revenue in 2025, the company has adjusted its EPS forecasts for 2025-2027 to 0.45, 0.54, and 0.61 yuan, down from previous estimates of 0.63 and 0.69 yuan for 2025-2026 [1] - Based on comparable companies, the target price for 2026 is set at 17.28 yuan, applying a 32x PE ratio, while maintaining a "buy" rating [1]