Core Viewpoint - Jiangsu's cultural and tourism system has effectively implemented the "14th Five-Year Plan," achieving significant progress in cultural and tourism development, aiming to establish a culturally strong province and a world-class tourist destination [1] Group 1: Cultural and Artistic Development - The cultural and tourism system in Jiangsu has focused on combining talent development with artistic output, enhancing the creative environment, and improving the organization of artistic production [2] - Notable artistic achievements include the award-winning performances such as the Xiju "Candlelight Ahead" and the Kunqu "Qu Qiubai," showcasing the province's commitment to high-quality artistic creation [2][3] - Initiatives like the "New Three-Year Plan" for the Kunshan Hundred Dramas Festival have been recognized as top cases of reform and innovation in the cultural tourism sector [2] Group 2: Public Cultural Services - Jiangsu has aimed to enhance public cultural services, transitioning from full coverage to high efficiency, ensuring equitable access to cultural resources for the public [4] - The province has implemented the "Double Thousand Plan" to foster cultural stations and teams that serve the community, enhancing cultural engagement [4] - New initiatives have been launched to bring quality cultural resources closer to the public, including local exhibitions and performances [4] Group 3: Cultural Heritage and Preservation - The province has emphasized the systematic protection and active transmission of cultural heritage, aiming to creatively transform and develop traditional culture [5][6] - Jiangsu has initiated major archaeological projects and established a modern museum system to enhance the preservation and utilization of cultural relics [6] - The number of UNESCO intangible cultural heritage items has increased to 12, ranking first in the country, reflecting the province's commitment to heritage preservation [7] Group 4: Tourism Industry Growth - In 2024, Jiangsu had 12,138 large-scale cultural enterprises, generating revenue of 1.61 trillion yuan, accounting for 11.3% of the national total [8] - The province received 1.09 billion domestic and international tourists, with tourism revenue reaching 1.34 trillion yuan, marking growth rates of 15.8% and 11.5% respectively [8] - Policies have been introduced to stimulate tourism consumption, including night tourism and cultural events, contributing to the recovery of the tourism market [8][9] Group 5: Digital Transformation in Cultural Tourism - Jiangsu has leveraged modern technology to drive transformation in the cultural tourism sector, establishing a smart tourism platform with extensive data assets [12] - The province has expanded the application of technologies like 5G and AI to create immersive experiences and enhance tourism services [12][13] - Innovative projects have been launched to integrate culture, creativity, and technology, appealing to younger audiences [12][13]

证券研究报告：传媒 | 公司点评报告 发布时间：2025-06-30 股票投资评级 资料来源：聚源，中邮证券研究所 | 公司基本情况 | | --- | | 最新收盘价（元） | 12.60 | | --- | --- | | 总股本/流通股本（亿股）2.53 / 2.53 | | | 总市值/流通市值（亿元）32 / 32 | | | 52 周内最高/最低价 | 18.38 / 7.61 | | 资产负债率(%) | 90.8% | | 市盈率 | -5.83 | | 第一大股东 | 湖南湘江新区发展集团 | | 有限公司 | | 研究所 分析师:王晓萱 SAC 登记编号:S1340522080005 Email:wangxiaoxuan@cnpsec.com 华扬联众(603825) 实控人变更，治理改善，拓展文旅业务新增长点 ⚫ 事件回顾 2025 年 4 月 29 日，公司发布 2024 年年报及 2025 年一季报。 2024 年公司实现营业收入 20.30 亿元，同比下降 63.07%；归母净利 润-5.47 亿元，上年同期为-6.84 亿元。2025 年一季度公司实现营业收 入 1.75 亿元， ...

Core Insights - Yunnan Smart Cultural Tourism Group showcased two digital innovations at the 2025 Digital China Construction Summit: the "Dali Accommodation Regulatory Service Platform" and the "Cultural Tourism Industry Decision-Making Hub (Cultural Tourism Smart Brain)" [1] Group 1: Dali Accommodation Regulatory Service Platform - The platform introduces an innovative service model combining "basic regulatory services + data value-added services + industry chain collaborative services + intelligent decision support," creating a dynamic regulatory network for the Dali accommodation industry [3] - It connects various levels of government and departments, including cultural tourism, market supervision, and taxation, enhancing real-time monitoring and risk event warnings through AI algorithms and big data analysis [4] - The platform aims to transition government regulation from "passive response" to "active governance," supporting precise financing for small and micro accommodations and promoting a shift from "flow economy" to "retention economy" [4] Group 2: Cultural Tourism Industry Decision-Making Hub - The pre-released "Cultural Tourism Industry Decision-Making Hub" integrates government, enterprise, and tourist behavior data, forming a "Cloud Data Cube" data hub and intelligent decision engine to support strategic planning and policy simulation [6] - Its SaaS solution covers various scenarios, including accommodation regulation and public opinion analysis, with independent data deployment ensuring security [6] Group 3: Strategic Collaborations and Future Implications - Yunnan Smart Cultural Tourism Group collaborates with leading technology companies to enhance core technology security and data governance systems, laying a solid foundation for the digital upgrade of the cultural tourism industry [7] - This new digital model may serve as a template for the digital transformation of the cultural tourism sector, addressing regulatory challenges and invigorating market vitality, providing new solutions for border governance and cultural tourism integration [7]