Core Viewpoint - The company is focusing on the development of services tailored for the elderly demographic, in response to national policies promoting senior consumption [1] Group 1: Business Strategy - Since 2020, the company has been optimizing its travel agency business by segmenting customer needs and enhancing services for senior members through the "Fanghua Traveler" club [1] - The company has designed and customized products specifically for elderly travelers, creating a dedicated series of offerings under the "Fanghua Traveler" brand [1] Group 2: Service Enhancements - The Wuzhen scenic area offers ticket discounts for seniors and provides additional services such as manual ticket counters and wheelchair rentals to accommodate elderly visitors [1] - The Gubei Water Town has developed a health and wellness system that includes four main areas: hot spring health care, sports wellness, dietary therapy, and cultural experiences, catering to the travel needs of older tourists [1] Group 3: Financial Performance - In the first half of 2025, the company achieved revenue of 4.866 billion yuan, representing a year-on-year increase of 11.84% [1] - The net profit attributable to the parent company was 67 million yuan, showing a year-on-year decline of 7.88% [1]

9月8日，华侨城A发布第九届董事会第一次临时会议决议公告。会议根据议程逐项审议并通过《关于增 补公司非独立董事候选人的议案》，同意增补吴秉琪先生为公司第九届董事会非独立董事候选人，并同 意将其提交公司股东会选举。资料显示，吴秉琪，大学，硕士，高级工程师。曾任华润物业有限公司董 事、副总经理，华润营造（控股）有限公司董事、副总经理，华润置地有限公司副总裁、战略总监、成 都大区总经理、高级副总裁，华润置地有限公司党委副书记、总裁，中国建筑集团有限公司党组成员、 副总经理。现任华侨城集团有限公司党委副书记、董事、总经理。 浙江：开展宠物友好型旅游试点 满足"人宠共游"合理需求 近日，浙江省农业农村厅起草了《关于促进宠物经济发展的意见（征求意见稿）》。《意见》提出总体 要求，到2027年，省内宠物经济消费市场规模突破300亿元；到2030年，建成全国宠物经济创新策源 地、宠物食品品牌大省、宠物用品制造强省，力争省内宠物消费市场规模突破500亿元，形成宠物产业 升级与宠物环境友好协同并进的发展新格局。《意见》提到，推进宠物经济跨界融合。做好"宠物经济 +"系列文章，推动宠物经济与银发经济、文旅经济、悦己经济、会展经济等 ...

Core Viewpoint - The article highlights the innovative exploration of Zhangdian District in developing a diversified and multi-level elderly care service system, focusing on the new dynamics of the silver economy through practical visits to representative sites [1][3]. Group 1: Elderly Care Service Centers - The Zhangdian District Elderly Care Service Display Experience Center is the first modern elderly care display platform in the central Shandong region, featuring "scenario-based, intelligent, and full-link" characteristics [1][3]. - The center covers an area of 980 square meters and integrates multiple resources, creating four functional areas: smart elderly care experience area, real-life sample rooms, product exhibition area, and health lectures [3]. - The center aims to provide a one-stop solution for elderly families to make informed decisions and efficiently implement home modifications for elderly care [3][6]. Group 2: Care Facilities and Services - The Qinggeng Nursing and Filial Piety Garden, located in the Hengjiu Xiuyuan community, is a significant representative of the silver economy market in Zhangdian District, with a construction area of 7,000 square meters and 183 designed beds [5]. - The facility offers a comprehensive range of services, including daily living assistance, professional nursing, medical rehabilitation, and nutritional meals, while also emphasizing spiritual comfort, chronic disease management, and emergency rescue [5][6]. - Both the display center and the nursing garden represent the latest cases of Zhangdian District's move towards high-quality development in elderly care [6]. Group 3: Demographics and Market Dynamics - As of now, Zhangdian District has a total population of 806,400, with 138,600 individuals aged 60 and above, accounting for 17.19% of the population [6]. - There are currently 31 elderly care institutions in the district, with a total of 3,748 beds, and approximately 1,800 residents actually living in these facilities [6]. - Nearly 99% of the elderly population prefers home-based care, leading to the formation of a "9901" elderly care service model in Zhangdian District [6]. Group 4: Future Developments - The district plans to use the aforementioned projects as a foundation to develop a vibrant silver economy street, further aggregating high-quality resources in medical care, cultural education, dining, and fitness to create a comprehensive ecosystem for the silver economy [6].

防范养老诈骗。一些不法分子以"养老理财""会员制养老""投资养老项目"为名，承诺高额利息分红回 报、优先入住资格或享受消费优惠，引诱老年消费者办理"会员卡""预付卡"或投资入股，收取高额会员 费、保证金或投资本金，诈骗老年消费者钱财。建议消费者切勿轻信"高息回报"等虚假承诺，避免落入 非法集资陷阱。 当前，我国养老服务消费需求日益增长，银发经济迎来快速发展。与此同时，全国消协组织受理投诉情 况显示，养老服务消费中一些"坑老""骗老"行为和不良营销手段时有出现。为更好满足老年人服务需 求，切实减少养老服务消费侵权事件，全国老龄办、民政部、中国老龄协会、中国消费者协会近日特别 提醒广大老年消费者防范养老服务消费风险。 谨慎选择养老服务机构。一些组织未经登记就打着养老服务机构的名义开展活动，这类经营主体既无资 格资质、质量保证，又存在极大安全隐患。为方便消费者查询，民政部开通了全国养老服务信息平台， 消费者可通过该平台查询或选择具备资格资质的养老服务机构。 规范签订服务合同。老年消费者在缴纳养老服务费用前，应与养老服务经营者签订正规合同，特别要关 注涉及服务主体、服务内容、服务周期、服务收费等的条款，明确约定退费情 ...

Group 1 - Various regions in China, including Shanxi, Shandong, Chongqing, Zhejiang, and Gansu, are actively promoting elderly service consumption through meetings, new policies, and themed activities [1] - The "Elderly Service Consumption Season" launched in Shanxi aims to strengthen home-based elderly care and meet the diverse needs of the elderly [1] - The initiatives are expected to enhance consumer experience, improve the quality of life for the elderly, and attract more enterprises and capital into the elderly service sector, fostering innovation and growth in the silver economy [1] Group 2 - Consumption subsidies are highlighted as a key strategy to activate consumer willingness, reduce payment pressure for the elderly, and promote the development of the elderly service market [2] - Subsidies cover both elderly service consumption and home adaptation, supporting families in upgrading to age-friendly products [2] - The large elderly population in China is increasingly willing to spend, aligning with national strategies to expand domestic demand and boost consumption [2] Group 3 - The Ministry of Civil Affairs and the Ministry of Commerce have introduced measures to promote high-quality development in elderly services and enhance the quality of life for the elderly [3] - Sales revenue for community, institutional, and home-based elderly care services has seen significant year-on-year growth, with increases of 30.4%, 22.6%, and 18% respectively [3] - Recommendations for further market stimulation include strengthening planning for a comprehensive elderly service network, enhancing service standards, and encouraging financial institutions to innovate products to support elderly care facilities [3]

Group 1 - The 25th China International Investment Trade Fair concluded successfully, with a total exhibition area of 120,000 square meters, participation from 123 countries and regions, and over 1100 government and business groups, attracting more than 80,000 attendees [1][2] - A total of 1,154 investment projects were signed during the event, with a planned total investment of 644 billion yuan [1][6] - The fair aims to enhance its authority, internationality, professionalism, and effectiveness, becoming an important event in the global investment field [1][9] Group 2 - The theme of the fair was "Join Hands with China, Invest in the Future," focusing on creating a landmark exhibition for "Investing in China" and building a core service platform for two-way investment promotion [2] - Foreign enterprises view China as a key platform for development, with Panasonic's sales revenue in China nearing 100 billion yuan, accounting for about 25% of its global revenue [3] - The fair has become a significant window for global capital and enterprises seeking development and cooperation in China, showcasing the resilience of the Chinese economy and its open stance for win-win futures [3][4] Group 3 - China has maintained a leading position in attracting foreign investment for 15 consecutive years and in outbound investment for 12 years, with foreign investment stock exceeding 3.6 trillion and outbound investment stock exceeding 3.1 trillion USD by the end of 2024 [4] - The fair not only attracts foreign investment but also supports Chinese enterprises in expanding overseas, with significant investments in infrastructure and development opportunities in countries like Cambodia and Uzbekistan [7] - The fair serves as a crucial platform for companies to embark on their "going global" journey, facilitating communication and collaboration with industry partners and addressing challenges in overseas financing and supply chain coordination [9]

Core Insights - The "silver-haired cruise" market is gaining popularity, with a significant increase in cruise product bookings, particularly for overseas long-haul cruises, which surged by 120% year-on-year during the summer season [2][3] - The silver-haired demographic is a crucial customer base for cruise products, as companies like Three Gorges Tourism are tailoring their services to meet the needs of this group [2][11] - Three Gorges Tourism reported a revenue of 367 million yuan and a net profit of 64 million yuan in the first half of 2025, reflecting a year-on-year growth of 7.47% and 17.74% respectively [2][5] Company Performance - Three Gorges Tourism's cruise services generated 101 million yuan in revenue, marking a 19.59% increase year-on-year [2][5] - The subsidiary, Yichang Jiangyun Yangtze River Cruise Co., achieved a revenue of 105 million yuan, up 20.04%, and a net profit of 21 million yuan, up 34.67% in the same period [6] - The company is expanding its cruise offerings and plans to develop inter-provincial cruise tourism, aiming to become a leader in China's inland cruise tourism [2][5] Market Trends - The demand for high-quality cruise experiences is rising, with a shift from sightseeing to leisure and vacation tourism [7][10] - The market for silver-haired tourists is expanding, driven by an increase in this demographic and improvements in the industry supply chain [3][14] - Companies are focusing on enhancing service quality and product offerings to cater to the evolving needs of the silver-haired population [8][11] Industry Developments - The Long River Three Gorges is identified as a key area for the development of inland river cruises, benefiting from favorable conditions such as the completion of the Three Gorges Project [4][14] - The cruise market is seeing a growing interest in themed cabins and customized services, indicating a trend towards more personalized travel experiences [7][10] - The overall cruise tourism market in China is expected to grow, with a focus on high-end vacation experiences and the integration of health management services [3][10]

Group 1 - The 2025 China International Service Trade Fair (CIFTIS) features award-winning humanoid robots from the recent World Humanoid Robot Games, attracting significant public interest [1][4] - The sports service section of the fair focuses on internationalization, professionalism, and marketization, showcasing new technologies and innovations in the sports industry [2] - The exhibition area spans 7,650 square meters, with over 60 offline exhibitors and more than 350 online exhibitors, including participation from over 40 international organizations [2] Group 2 - A new gel ice material, developed by a team from Beijing Institute of Technology, offers a cost-effective and energy-efficient alternative for ice rink construction, reducing energy consumption by over 50% [3] - The fair includes interactive experiences such as 5G+VR technology for sports like skiing and table tennis, allowing audiences to engage with professional-level data analysis services [2] - The event features robot soccer and free fighting competitions, showcasing autonomous robots that have previously competed in international events [4][5] Group 3 - There is a growing interest in robotics, particularly in applications for the elderly care sector, with expectations for significant advancements in the next 5 to 10 years [5] - Current challenges in robotics include the need for breakthroughs in battery technology to support longer operational times for robots in various applications [5]

Core Viewpoint - Guangzhou Lingnan Group Holdings Co., Ltd. has shown significant growth in both revenue and profit in the first half of 2025, capitalizing on favorable national policies and enhancing its business operations across travel and accommodation sectors [2][3]. Financial Performance - The company achieved a revenue of 208,960.24 million yuan, an increase of 8.52% year-on-year, and a net profit of 49.52 million yuan, up 24.39% from the previous year [2]. - The net asset value at the end of the period was 226,085.81 million yuan, remaining stable compared to the previous year, with a net cash flow from operating activities of 12,477.96 million yuan and a debt ratio of 39.03% [2]. Business Segments - The core enterprise in the business travel sector is Guangzhou Guangzhilv International Travel Agency Co., Ltd., which reported a revenue of 153,571.45 million yuan, reflecting an 11.78% increase year-on-year, with net profit rising by 34.91% to 23.29 million yuan [2]. - The accommodation sector, including hotel management and operations, saw revenue growth of 1.60% year-on-year, totaling 11,855.54 million yuan, with net profit increasing by 23.26% to 973.47 million yuan [3]. National Expansion - The travel agency has expanded its store network, adding 12 new stores in the first half of 2025, bringing the total to approximately 200 nationwide, with 119 located in Guangdong province [4]. - The company is implementing a "North-South Coordination" strategy for its accommodation business, establishing a northern headquarters and expanding its hotel brand in major cities, signing 69 new projects and adding nearly 4,000 rooms [4]. Focus on Silver Economy and Online Business - The company has launched a dedicated "Leisure and Active" club for the elderly and introduced an upgraded "Travel Residence 2.0" product line, aiming to explore wellness destinations suitable for the elderly demographic [5]. - In terms of online business, the company has developed the "Easy Travel" and "Walking Net" smart tourism platforms, creating a comprehensive online and offline sales system [5].

编号：2025-008 广州岭南集团控股股份有限公司投资者关系活动记录表 | | √特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 活动参与人员 | 上市公司接待人员：董事会秘书石婷、证券事务代表吴旻 | | | 参与单位名称及人员：1、天弘基金管理有限公司行业研究部 | | | 研究总监俞仁钦；2、天弘基金管理有限公司股票投资研究部 | | | 研究员胡晓彤；3、中泰证券股份有限公司研究所商社首席分 | | | 析师郑澄怀；4、中泰证券股份有限公司华北区资深销售经理 | | | 付禹璇。 | | 时间 | 2025 年 9 月 11 日 | | 地点 | 公司会议室 | | 形式 | 现场调研 | | | 1、请介绍一下公司商旅出行和住宿业务及半年度的经营 | | | 情况。 | | | 公司把握国家全方位扩大内需、提振消费政策利好机遇， | | | 紧紧围绕公司"拼经济、促发展、增效益、保安全"年度工作 | | | 主题，发 ...