Core Viewpoint - The company Qianwei Yangchu is implementing a shareholder return program by offering product gift packages to shareholders, aiming to enhance shareholder engagement and understanding of the company's value [1][4]. Group 1: Shareholder Return Activity - Qianwei Yangchu announced a "shareholder return activity" where shareholders holding 100 shares or more can receive a gift package valued at 200 yuan, with institutional shareholders eligible for three packages [1]. - The activity is designed to express gratitude to shareholders and improve their understanding of the company's products [1][4]. - The program has a cutoff date on the announcement day, indicating a more sincere approach compared to previous practices by other companies [4]. Group 2: Financial Impact - As of December 1, Qianwei Yangchu's stock price was 36.78 yuan per share, making the threshold for participation 3,678 yuan for individual shareholders [4]. - The value of the gift package translates to a dividend yield of approximately 5.44% for shareholders holding 100 shares [5]. - The company reported a total revenue of 1.378 billion yuan and a net profit of 53.775 million yuan for the third quarter, with a year-on-year revenue growth of 4.27% [7]. Group 3: Market Reaction - Following the announcement, there was significant discussion among shareholders, with mixed reactions ranging from excitement to skepticism about the nature of the products offered [5]. - The stock market response to similar shareholder return activities by other companies has been positive, with instances of stock price increases following such announcements [8][9].

Core Viewpoint - Emei Mountain A (000888.SZ) announced a shareholder reward program, leading to a "limit-up" in stock price, reflecting positive market response to the initiative [2][3]. Group 1: Shareholder Reward Program - The program allows shareholders holding over 500 shares to enjoy free entry to the scenic area, cable car rides, and hot springs, along with discounts for accompanying guests [2]. - Additional benefits include significant discounts on hotel stays and local products, enhancing the attractiveness of the program [2]. - Following the announcement, Emei Mountain A's stock price reached 14.16 yuan per share, with a market capitalization of 74.61 billion yuan [2][3]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported a revenue of 733 million yuan, a decrease of 9.06% year-on-year, and a net profit of 234 million yuan, down 3.98% [6][7]. - The decline in revenue and profit is attributed to a significant increase in visitors to the free-entry areas and a growing proportion of hikers [6][7]. - In the third quarter of 2025, the company received 2.1 million visitors, a 9.39% increase year-on-year, but revenue still fell by 7.35% [7]. Group 3: Industry Trends - Several tourism companies have launched similar shareholder reward programs, indicating a trend in the industry to enhance shareholder engagement through benefits [8]. - Other companies, such as Xiangyuan Tourism and Huangshan Tourism, have also introduced programs offering free or discounted access to attractions for shareholders [8].

Core Viewpoint - The increasing emphasis on investor relations management by listed companies in China's capital market is highlighted, with shareholder return activities becoming a focal point of market attention [1]. Group 1: Shareholder Return Activities - As of May 16, 2023, eight A-share listed companies have conducted shareholder return activities this year [2]. - Anhui Yingjia Distillery Co., Ltd. announced a "10th Anniversary Shareholder Return" event, offering limited edition commemorative liquor at a discounted price for shareholders [2]. - Shede Distillery Co., Ltd. is also providing discounts on commemorative liquor for shareholders as part of its "2025 Shareholder Return" initiative [2]. Group 2: Continuous Engagement - Jiangsu Aipeng Medical Technology Co., Ltd. has been conducting shareholder return activities for four consecutive years, offering free health products to shareholders [3]. - Hainan Strait Shipping Co., Ltd. has also been engaging in shareholder return activities for multiple years, providing discounted tickets for shareholders and their friends [3]. Group 3: Future Trends - Experts suggest that shareholder return activities are likely to become a regular practice among listed companies, with a focus on innovation in form and content [3]. - Companies are expected to design more personalized and diversified return activities based on strategic positioning, product characteristics, and shareholder needs [3].