证券代码：600754/900934 证券简称：锦江酒店/锦江B股 公告编号：2026-002 上海锦江国际酒店股份有限公司 关于控股股东一致行动人增持公司 B 股股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 已披露增持计划情况：上海锦江国际酒店股份有限公司（以下简称"公司"） 于 2025 年 3 月 1 日披露了《关于控股股东一致行动人增持公司 B 股股份及后续增 持计划的公告》，公司控股股东上海锦江资本有限公司（以下简称"锦江资本"） 一致行动人锦江国际酒店集团（香港）投资管理有限公司（以下简称"锦江香港")， 拟通过上海证券交易所允许的方式（包括但不限于集中竞价交易、大宗交易等） 增持公司 B 股股份。增持 B 股股份数不低于 900 万股（含本数），不超过 1,800 万股（含本数）。本次增持计划的实施期限为 12 个月，以锦江香港增持股份首日 为起始日。 ● 增持计划的实施结果：截止 2026 年 1 月 12 日，锦江香港通过上海证券交 易所交易系统以集中竞价交易方式 ...

北京市金杜律师事务所上海分所 关于上海锦江国际酒店股份有限公司 控股股东一致行动人增持公司股份之 法律意见书 致：上海锦江国际酒店股份有限公司 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券 法》（以下简称《证券法》）、《上市公司收购管理办法》（以下简称《收购管理办法》） 等有关规定，北京市金杜律师事务所上海分所（以下简称本所）接受上海锦江国际 酒店股份有限公司（以下简称公司）之委托，就公司控股股东之一致行动人锦江国 际酒店集团（香港）投资管理有限公司（以下简称增持人）增持公司股份（以下简 称本次增持）所涉相关事项，出具本法律意见书。 为出具本法律意见书，本所及本所律师根据《律师事务所从事证券法律业务管 理办法》和《律师事务所证券法律业务执业规则（试行）》等有关规定及本法律意 见书出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责 和诚实信用原则，对本次增持所涉及的事实和法律问题进行了充分的核查验证，保 证本法律意见书所认定的事实真实、准确、完整，所发表的结论性意见合法、准确， 不存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 本法律意见书的出具已得到公 ...

Market Overview - The hotel and catering sector experienced a decline of 0.9% on January 13, with Junting Hotel leading the drop [1] - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] Individual Stock Performance - Shoulu Hotel (600258) closed at 17.44, down 0.11% with a trading volume of 203,900 shares and a turnover of 353 million yuan [1] - Jinjiang Hotel (600754) closed at 26.09, down 0.46% with a trading volume of 120,400 shares and a turnover of 317 million yuan [1] - ST Yunwang (002306) closed at 2.02, down 0.49% with a trading volume of 205,800 shares and a turnover of 41.84 million yuan [1] - Jining Hotel (601007) closed at 7.82, down 1.01% with a trading volume of 112,400 shares and a turnover of 88.79 million yuan [1] - Quanjude (002186) closed at 11.91, down 1.24% with a trading volume of 95,600 shares and a turnover of 115 million yuan [1] - Tongqinglou (605108) closed at 19.64, down 1.50% with a trading volume of 53,900 shares and a turnover of 107 million yuan [1] - Huatian Hotel (000428) closed at 3.36, down 1.75% with a trading volume of 214,500 shares and a turnover of 72.81 million yuan [1] - Xi'an Catering (000721) closed at 9.13, down 2.14% with a trading volume of 258,800 shares and a turnover of 238 million yuan [1] - Junxi Hotel (301073) closed at 30.83, down 3.20% with a trading volume of 81,800 shares and a turnover of 253 million yuan [1] Capital Flow Analysis - The hotel and catering sector saw a net outflow of 124 million yuan from main funds, while retail investors had a net inflow of 143 million yuan [1] - The following stocks experienced significant net outflows from main funds: - Huatian Hotel: -214,000 yuan [2] - ST Yunwang: -3.14 million yuan [2] - Jining Hotel: -9.13 million yuan [2] - Quanjude: -9.32 million yuan [2] - Tongqinglou: -12.28 million yuan [2] - Shoulu Hotel: -12.90 million yuan [2] - Junting Hotel: -14.54 million yuan [2] - Jinjiang Hotel: -24.40 million yuan [2] - Xi'an Catering: -38.11 million yuan [2]

Core Insights - Shanghai's cultural and tourism market is gearing up for the upcoming Spring Festival with a wide array of activities and promotions aimed at both local residents and tourists [4][9]. Group 1: Event and Activity Highlights - A total of 2,570 unique activities will be launched during the Spring Festival, covering various aspects of travel including dining, accommodation, transportation, and entertainment [4]. - The first "Travel Super" competition has selected 150 high-quality travel guides from 3,125 submissions, focusing on themes like cultural performances and shopping experiences [5]. - Special "Year of the Horse" themed routes will be introduced, featuring traditional events such as the Yuyuan Garden Lantern Festival and local culinary experiences [5]. Group 2: Performance Market - The Shanghai performance market will see a significant increase in activity with 1,369 performances across 166 projects, including concerts, musicals, and children's plays [6]. - Notable events include large concerts featuring popular artists and high-quality international productions, alongside local performances that celebrate Shanghai's cultural heritage [6]. Group 3: Cultural Exhibitions and Heritage - Nearly 50 special exhibitions will be showcased, including the "Year of the Horse" zodiac exhibition at the Shanghai Museum and various other themed displays [7]. - A new Shanghai Pass will be available for 299 yuan, allowing access to 20 cultural venues, providing significant savings compared to the total ticket value of nearly 1,100 yuan [7]. Group 4: Community Engagement and Services - A series of community cultural activities will be launched, featuring nearly 1,000 events that promote local traditions and community engagement [8]. - Enhanced tourism services will be available, including a new immersive experience at key locations throughout the city, ensuring a smooth travel experience for visitors [8]. Group 5: Discounts and Promotions - Sixty popular attractions in Shanghai will offer discounts of up to 50%, with various promotional packages available for families and tourists [9]. - Special offers include discounted tickets for visitors born in the Year of the Horse and various bundled packages that combine accommodation with attraction access [9][10]. Group 6: Industry Initiatives - Major tourism companies are launching diverse promotional products, including discounted flight tickets and themed accommodation packages [10]. - Collaborations between Shanghai Pass and local hotel groups are creating comprehensive travel solutions that combine cultural experiences with lodging [10].

Group 1: Core Activities and Events - Shanghai will host 2,570 unique activities and 1,369 performances during the Spring Festival, aiming to attract both domestic and international visitors [1][2] - The city will feature nearly 50 special exhibitions in museums and over 100 high-quality art exhibitions in galleries, including major displays from the Louvre and Picasso [1] - The "Cultural Magnet" concept will be emphasized with a record number of performances and exhibitions, enhancing the festive atmosphere [1] Group 2: Cross-Industry Collaborations - The "Hu Xiao You" platform will offer 353 themed activities, including 54 science exhibitions and 4D movies, as well as industrial tourism experiences and waterway tours [2] - A New Year tennis event featuring renowned players and cross-industry celebrities will take place from the second to the fifth day of the Lunar New Year [2] - The 2026 New Year intangible cultural heritage series will include immersive experiences focused on local culinary and artistic traditions [2] Group 3: Discounts and Promotions - Major tourism companies in Shanghai are launching significant discounts, such as Eastern Airlines' "Shenqing Reunion Card" priced at 999 yuan for round trips and 559 yuan for single trips [3] - The Shanghai Pass is offering a New Year combined ticket for 299 yuan, which includes accommodation and cultural visits, catering to the demand for cultural experiences during the holiday [3] - Popular attractions will provide half-price tickets and special offers to enhance accessibility for all age groups [2]

1月12日，"旅选上海，超级新春"2026春节上海文旅场景精彩大放送暨第一届上海旅游攻略超级大 赛（第一季）阶段性成果发布新闻通气会在上海举行。 据介绍，首届"旅超"大赛专业组进展顺利。专业组已于2025年12月31日前从上海各区报送的640个 海选推荐攻略作品中，评审遴选出150个入围决赛的攻略作品，并通过"沪小游"等平台开展面向全社会 的网络投票。 2026年1月6日至9日，上海已组织开展对150个入围决赛的攻略作品进行评审，遴选出一至三等奖共 50名及其他单项奖50名。 其间，上海市、区文旅局指导有关旅行社对入围决赛的攻略作品开展转化工作，推进"攻略作品到 旅游产品"的转化。外省市游客和上海市民朋友们可以在马年春节期间"来上海，攻略我们给你的攻 略"。 上海旅游攻略超级大赛社会赛成果同样显著，共征集8000余件作品，抖音话题浏览量超2.5亿次。 赛事通过全民"种草"展现上海文旅魅力，后续将评选优秀作品、开展抽奖，深化成果转化。"旅选上海 超级元旦"城市打卡活动，上海全市350余个现场点位三天来共完成盖章打卡83000余人次，抖音平台新 增"#旅选上海超级元旦""#域见上海"打卡网帖3000余条。 上海市 ...

Core Viewpoint - The article highlights the upcoming 2026 Spring Festival in Shanghai, focusing on the tourism and cultural consumption market, with various new consumption models and promotional activities planned to attract both local residents and tourists [3]. Group 1: Event and Competition Highlights - The first "Travel Super" competition has successfully progressed, with 150 finalist travel guides evaluated, resulting in 50 awards and over 8,000 submissions [4]. - The competition has generated significant online engagement, with over 250 million views on Douyin, effectively converting exposure into consumer spending [4][5]. - During the competition, the "Half-Price Travel Shanghai" topic gained popularity, promoting the idea of affordable tourism in Shanghai [5]. Group 2: Promotional Activities and Discounts - For the 2026 Spring Festival, 60 popular attractions in Shanghai will offer tickets at half price, alongside 135 promotional products including travel agency packages, hotels, and homestays [5][6]. - A total of 2,570 activities will be organized, including performances, exhibitions, and cultural events, aimed at attracting both residents and tourists [6]. Group 3: Performance and Entertainment - The Shanghai performance market will feature 1,369 shows across 166 projects during the Spring Festival, including concerts and various theatrical performances [6]. - Notable events include large concerts by famous artists, expected to draw significant crowds and stimulate related consumption in accommodation, dining, and shopping [6]. Group 4: Sports and Cultural Integration - Sports events will also play a role in the consumption landscape, with a tennis tournament scheduled during the festival, featuring prominent athletes and influencers [7]. Group 5: Shanghai Pass Initiative - The "Shanghai Pass" will be launched, offering access to 20 cultural and artistic venues for a total ticket value of nearly 1,100 yuan, available for 299 yuan [8][9]. - The pass includes exclusive benefits and discounts at various dining establishments, promoting a seamless integration of cultural and commercial experiences [9]. Group 6: Trends in Tourism - Ctrip's data indicates a significant increase in inbound travel orders, driven by visa-free policies and cultural experiences appealing to international tourists [10]. - There is a growing demand for high-quality travel experiences that combine cultural exploration with immersive activities, reflecting a shift in consumer preferences [10]. - The diversity of tourist origins is expanding, with notable increases in visitors from regions beyond the Yangtze River Delta, including the Pearl River Delta and central-western areas [10].

Core Insights - The Shanghai tourism industry is gearing up for the upcoming Year of the Horse Spring Festival in 2026, with various new consumption models and promotional activities planned to attract both local residents and tourists [1] Group 1: Event and Competition Highlights - The first "Travel Selection Shanghai Super Spring Festival" event has successfully organized the evaluation of 150 finalist travel guides, awarding 50 prizes and additional category awards [2] - Over 8,000 entries were submitted for the social competition, with Douyin (TikTok) topic views exceeding 250 million, showcasing the appeal of Shanghai's cultural tourism [2] - The event has effectively transformed online traffic into real consumption, with significant increases in restaurant and tourism transaction volumes, including a doubling of restaurant transactions compared to the same period in 2024 [2] Group 2: Discounts and Promotions - During the 2026 Spring Festival, 60 popular attractions in Shanghai will offer tickets at half price, alongside 135 promotional products from travel agencies, hotels, and homestays [3] Group 3: Cultural and Entertainment Activities - The Shanghai Municipal Bureau of Culture and Tourism plans to host 2,570 activities across seven categories, including festive events, performances, and exhibitions, to attract visitors during the Spring Festival [4] - A total of 1,369 performances across 166 projects will be staged, including concerts and various theatrical productions, with notable events like concerts by Ren Xianqi and Capper expected to draw large crowds [4] Group 4: Sports Events - The New Year Tennis Stars Tournament will take place from the second to the fifth day of the Lunar New Year, featuring prominent tennis players and KOLs, further enhancing the festive atmosphere [5] Group 5: Shanghai Pass Initiative - The "Shanghai Pass" will be launched during the Spring Festival, offering access to 20 major cultural and artistic venues for a total ticket value of nearly 1,100 yuan, available for a promotional price of 299 yuan [6][7] - The pass includes benefits such as priority entry and discounts at popular venues, and it aims to integrate cultural consumption with local dining experiences [7] Group 6: Trends in Tourism - Ctrip's data indicates a significant increase in inbound travel orders, driven by visa-free policies and cultural experiences appealing to international tourists [8] - There is a growing demand for high-quality travel experiences that combine cultural exploration with immersive activities, reflecting a shift in tourist preferences [8] - The source markets for visitors are diversifying, with notable growth in tourists from regions beyond the Yangtze River Delta, including the Pearl River Delta and central-western areas [8]

Core Insights - Shanghai's cultural and tourism industry is gearing up for the 2026 Year of the Horse Spring Festival with various initiatives aimed at stimulating market activity [1] - The "Travel Selection Shanghai Super Spring Festival" event has successfully showcased the city's tourism appeal and is expected to drive consumer engagement [4] Group 1: Event and Promotion Initiatives - The first Shanghai Tourism Strategy Super Competition has received over 8,000 entries, with 150 finalists evaluated, resulting in 50 awards [4] - During the "Travel Super" event, the topic "Half-Price Travel in Shanghai" gained significant traction on Douyin, leading to a substantial increase in searches for related keywords [4] - Shanghai will offer half-price tickets at 60 popular attractions during the Spring Festival, alongside 135 promotional products including travel agency packages and hotel deals [5] Group 2: Cultural and Entertainment Activities - The Shanghai Municipal Bureau of Culture and Tourism plans to host 2,570 activities across seven categories, including performances, exhibitions, and public cultural events during the Spring Festival [6] - A total of 1,369 performances across 166 projects will be staged, including concerts and theatrical shows, with notable events featuring popular artists expected to attract visitors [6] - The introduction of large-scale concerts during the holiday is anticipated to boost consumption in accommodation, dining, and shopping sectors [6] Group 3: Sports and Other Attractions - The Spring Festival will also feature a tennis event, the "New Year Cup," showcasing prominent athletes and influencers, further enhancing the festive atmosphere [7] Group 4: Integrated Cultural Pass - The "Shanghai Pass" will be launched, offering access to 20 cultural venues for a total value of nearly 1,100 yuan, promoting a seamless experience of cultural and culinary activities [8] - The pass will be sold at a promotional price of 299 yuan and includes benefits such as priority access and discounts at various dining establishments [8] Group 5: Tourism Trends - Ctrip's data indicates a significant increase in inbound travel orders, driven by visa-free policies and cultural experiences appealing to international tourists [9] - There is a growing demand for high-quality travel experiences that combine cultural exploration with immersive activities [9] - The source of tourists is diversifying, with notable increases from regions beyond the Yangtze River Delta, including the Pearl River Delta and central-western areas [9]

Investment Rating - The report maintains a "Recommendation" rating for the consumer services industry, indicating an expected increase in the industry index exceeding the benchmark index by more than 5% in the next 3-6 months [40][42]. Core Insights - The report highlights that Jiangyun Co. plans to swap its assets related to passenger car sales and automotive services with the cultural and sports assets held by its controlling shareholder, Jiushi Group. This move is expected to promote the capitalization process of China's sports industry, presenting potential investment opportunities [5]. - The State Council's antitrust office is investigating the competitive landscape of the food delivery platform service industry, which may shift the focus from price wars to compliance battles [5]. - The report identifies several investment targets, including hotels with balanced supply and demand, human resources services with clear industry trends, and the sports sector with significant growth potential [5]. Industry Basic Data - The consumer services industry comprises 55 listed companies with a total market capitalization of 498.804 billion yuan and a circulating market capitalization of 457.081 billion yuan [2]. Market Performance - The consumer services sector experienced a weekly increase of 4.71%, outperforming the overall A-share market, which rose by 5.08%, and the CSI 300 index, which increased by 2.79% [8][27]. - Notable performers in the sector included Gu Ming, which rose by 8.72%, and Jun Ting Hotel, which increased by 12.13% [5][21]. Important Announcements - Key announcements from companies in the sector include: 1. Excellence Education Group purchased 51,000 shares in the open market [32]. 2. New Oriental will hold a board meeting on January 27 to approve its unaudited performance for the six months ending November 30, 2025 [32]. 3. JD Group plans to repurchase approximately 180 million Class A ordinary shares for about $3 billion [32]