黄山旅游（600054）公告，2025年第一季度营收为4.03亿元，同比增长19.79%；净利润为3689.5万元， 同比增长44.69%。 ...

桂林旅游股份有限公司投资者关系活动记录表 1 编号：2025-001 投资者关系活 动类别 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □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 董事长陈靖女士，副董事长、总裁文政先生，独立董事常启 军先生，董事、副总裁郑宁丽女士，董事、副总裁、财务总 监、代董秘王小龙先生。 时间 2025年4月29日15:00至17:00 地点 深圳证券交易所"互动易"平台 （http://irm.cninfo.com.cn）"云访谈"栏目 形式 网络 交流内容及具 体问答记录 公司于 2025 年 4 月 29 日 15:00—17:00 采用网络远程的 方式在深圳证券交易所"互动易"平台"云访谈"栏目召开 2024 年度业绩说明会，公司参会领导与投资者互动交流情况 如下： 问题一："一核一优两翼三扩"战略中，存量优化和增量 提升具体指哪些举措？2025 年计划扩展哪些新业态（如 AI 文 旅、低空经济）？ 问题一回复： 尊敬的投资者，您好！ 存量优化的具体措施主要包括：一是借助 AI 解锁"未来 旅游"新体验，助力人民网打造"AI ...

错落有致的徽派民居与山野梯田交相辉映，勾勒出一幅美丽的水墨画卷。村里还随处可见支着画板、手持画笔、凝神创作的"写生大军"，不少 村民还将自家的古民居改造成了民宿、咖啡馆、茶吧等，吸引不少游客前来体验。 古建古韵 古村老宅续文脉 修缮保护焕新生 央视网消息：这几天，江西婺源有百余年历史的古村古建也吸引了大批游客错峰旅游。 古村落迎来错峰出游游客 这座古建筑已有300余年历史，在修复过程中，如何尽可能保持木结构古建筑的原貌，保留各时期的历史痕迹是最重要的问题。 婺源古建筑修复师 胡文全：作为我们古建筑保护来讲，我换一根新的更容易。因为要保护，要尽量把历史的有价值的材料要保留下来，所以 我们采用这一段腐烂的把它锯掉，我们用一个墩接的工艺，再用榫卯结构来加固，材料又保护了，又把它利用了回去，这叫保护与利用。 据了解，目前婺源县18个传统村落234幢闲置老屋使用权实现收储。这些老屋也华丽转身为民宿、茶馆、咖啡店等等，从"老破旧"变为文旅热 老房子维修好了，前来旅游的游客也越来越多。 潮中的"主力军"。 婺源古村落群是国内保存最多、最完好的古建筑地之一，近年来，当地加大保护和修缮，这些古建筑也成为当地重要的旅游资源。 这 ...

其中，水镇奇遇记线路串联了古北水镇、司马台长城、古御道等景区。山水探密记线路避开传统热门景 点，主打人少景美、山水刺激体验感，游客可到云蒙山领略"北方小黄山"的云海奇观，到黑龙潭感受碧 水绕幽谷，打卡清凉谷的空中缆车和玻璃天桥。乡野拾趣记线路串联云龙涧、水库观景台、金叵罗开心 农场，游客还可登上水库观景平台远眺密云水库与明长城交融的美景。萌宠乐园记线路以"亲子互动"为 核心，涵盖自然探索与主题娱乐，可登山识别蜜源植物，亲身体验劳动的乐趣。低空漫游记线路串联酒 庄、机场、展馆等元素。 此外，密云区文旅局整合全区景区民宿资源推出多项活动。比如，古北口镇推出"古韵长城光影传奇"长 城摄影展，游客可沉浸式观赏100余幅长城四季壮景照片；古北水镇景区开展"奇遇古北水镇"活动，游 客可免费体验放纸鸢、种植桃树、学习印染技巧等。此外，云蒙山风景区、黑龙潭风景区将于5月1日起 恢复开放。 5月31日前，密云区云龙涧景区、古北水镇、松鼠谷等多家景区针对乘坐怀密列车S5线或高铁至密云的 游客推出免票或折扣政策，游客凭两日内车票及身份证即可享受优惠。 新京报讯（记者吴婷婷）"五一"假期即将到来，密云区文旅局推出五条乡村旅游精品线路 ...

前十大流通股东累计持有： 12276.83万股，累计占流通股比： 48.33%，较上期变化： 13.33万股。 | 名称 持有数量(万股) | | 占总股本比例 | 增减情况(万 | | --- | --- | --- | --- | | | | (%) | 股) | | 西安曲江旅游投资(集团)有限公司 | 11451.11 | 45.08 | 不变 | | 富国中证旅游主题ETF | 163.60 | 0.64 | -116.04 | | 倪玉生 | 122.77 | 0.48 | 新进 | | 法国巴黎银行-自有资金 | 98.41 | 0.39 | 新进 | | MORGAN STANLEY & CO. INTERNATIONAL PLC. | 94.55 | 0.37 | 34.61 | | 王海榕 | 90.98 | 0.36 | 新进 | | 翁宏峰 | 80.72 | 0.32 | 30.35 | | 高盛公司有限责任公司 | 78.41 | 0.31 | 20.99 | | 华夏中证旅游主题ETF | 48.38 | 0.19 | -32.08 | | 杨林 | 47.90 | 0.19 | ...

转自：北京日报客户端 "五一"假期即将到来，密云区古北水镇景区将上新一系列文旅活动，邀市民游客赏景打卡，享受美 妙"微度假"。活动将从4月30日持续至5月5日。 "今年'五一'，我们的活动将围绕古今情缘、盛世繁华、机器时代、醉游千年、星空长城五大主题展 开，主打沉浸式。"古北水镇品牌传播中心负责人肖佳坤介绍。 "晚间亮灯后，摄影爱好者可以选择精酿时光小院，这里能拍出层次感极强的夜景照——远处是圆通 塔，中景是错落有致的仿古建筑，近景是银笺桥，出片率100%。"肖佳坤说。 今年"五一"，古北水镇将迎来大客流。交通方面，景区在现有的3647个车位之外，还增设了1400个临时 车位，所有管理人员也将24小时在岗。 "五一"期间，停车场开通了24小时值班电话，同时也已准备好各项应急物资，以帮助游客处理车辆搭 电、充气、换胎等各项基础救援工作。 超级巡游是最具特色的"沉浸式"活动之一。从南天门出发，由演员饰演的李白、西施以及众多身着华服 的"古人"组成巡游队伍，一路抵达日月岛广场。"李白"还会和游客互动对诗，对诗成功便能当场"领 奖"。 5月1日至5月5日期间，待夜幕降临，400架无人机与80架孔明灯将在空中"起舞"， ...

Group 1 - The article highlights the appeal of spring as a season that encourages people to take a break from work and explore nature, particularly in places like Guizhou [1][3] - Young travelers are seeking unique experiences in Guizhou's villages, engaging in local traditions and activities rather than typical tourist attractions [3][4] - The transformation of previously isolated villages, such as Huawu Village, into popular travel destinations showcases the region's natural beauty and cultural richness [4][6] Group 2 - Huawu Village, once cut off from modern amenities, has become a camping hotspot due to its stunning landscapes and local hospitality [6][9] - Visitors can participate in hands-on cultural experiences, such as wax dyeing and traditional embroidery, which enhance their understanding of the local heritage [9][11] - The article emphasizes the unique cultural identity of the Tuntou people in Anshun, who maintain distinct traditions and languages, contributing to the region's diverse cultural tapestry [13][16] Group 3 - The Tuntou culture is characterized by a blend of military history and agricultural practices, with a focus on trade and community [16][19] - The article describes the architectural features of Tuntou villages, which include defensive structures and intricate designs that reflect their historical significance [19][21] - Cultural performances, such as local theater, play a vital role in preserving the history and values of the Tuntou people, providing entertainment and a sense of community [21][23] Group 4 - The article suggests that visitors can experience authentic Tuntou culture in places like Benzhai, which retains traditional architectural styles and community values [21][25] - The region's hospitality is highlighted through local accommodations that offer immersive experiences, allowing guests to engage with the culture and environment [25][28] - The vibrant cultural scene in places like Zhaoxing Dong Village showcases the integration of traditional music and dance, creating a lively atmosphere for both locals and tourists [28][31] Group 5 - The article concludes by emphasizing the unique charm of Guizhou, where diverse cultures and natural beauty coexist, offering endless opportunities for exploration and discovery [31][34] - The region's culinary diversity and local ingredients reflect the rich cultural heritage, making it a destination for food enthusiasts [34]

Investment Rating - The report maintains a "Buy" rating for the company [9]. Core Views - In 2024, the company achieved operating revenue of 1.931 billion, a year-on-year increase of 0.09%, and a net profit attributable to the parent company of 317 million, a year-on-year decrease of 18.95%. The company is expected to benefit from improved transportation conditions and hotel project renovations, leading to stable revenue growth [2][6]. - The opening of the Chi-Huang high-speed railway in 2024, along with improved weather conditions, is anticipated to further increase visitor traffic to the mountains. Upgrades to hotels are expected to enhance both volume and pricing [2][6]. - Projected net profits for 2025-2027 are estimated at 377 million, 415 million, and 449 million, respectively, with corresponding price-to-earnings ratios of 23, 21, and 19 [2][6]. Summary by Sections Financial Performance - In Q4 2024, the company reported operating revenue of 519 million, a year-on-year increase of 4.93%, and a net profit of 45 million, marking a return to profitability [6]. - The total number of visitors to the scenic area reached 4.9224 million, a year-on-year increase of 7.6%, while the cable car service transported 9.8149 million visitors, up 3.25% year-on-year [12]. - The decline in profit despite increased visitor numbers was attributed to a decrease in ticket prices, adverse weather conditions, and increased depreciation from new investments [12]. Cost and Profitability - Operating costs increased by 4.98% year-on-year, outpacing revenue growth, primarily due to new investment projects still in the cultivation phase, leading to a gross margin of 51.78%, down 2.24 percentage points [12]. - The company's net profit margin decreased by 6.03 percentage points to 17.61% due to rising costs and increased expense ratios [12]. Business Segments - Revenue from the scenic area business declined by 9.22%, while hotel and cable car businesses saw increases of 2.55% and 1.02%, respectively. The decline in scenic area revenue was mainly due to lower ticket prices [12]. - The company is undertaking several renovation and investment projects, including a 150 million upgrade to the Huangshan International Hotel and a joint venture to develop a cultural performance project [12]. Future Outlook - The company is expected to benefit from multiple favorable factors, including improved transportation and hotel renovations, leading to steady revenue growth. Visitor traffic is projected to increase with the opening of the Chi-Huang high-speed railway [2][12].

Core Viewpoint - Guilin Tourism is facing significant financial losses, highlighting deeper systemic issues within the city of Guilin itself [1][5][21]. Financial Performance - In 2024, Guilin Tourism reported an operating income of 432 million yuan, a year-on-year decrease of 7.58%, and a net profit loss of 204 million yuan, a staggering decline of 1830.7%. Cumulatively, the company has lost nearly 1 billion yuan since 2020 [2][4]. Resource Management - Despite controlling key scenic resources such as the Li River and several five-star hotel assets, Guilin Tourism has failed to capitalize on these advantages, leading to increasing financial losses [3][4]. Investment Strategy - The company has engaged in blind expansion, investing in various projects that have largely failed, resulting in significant financial strain. Examples include: - Danxia Tourism Company, which reported a net profit of -24.13 million yuan and a 44% drop in visitor numbers [6]. - Luoshan Lake Tourism Company, which has been inactive since 2015 and reported a loss of 123 million yuan in 2024 [6]. - Guilin Tianzhitai Building project, which incurred losses exceeding 21 million yuan [7]. - Asset impairment and credit impairment alone accounted for 152 million yuan in losses, significantly impacting the profit statement [8]. Cash Flow Issues - Guilin Tourism continues to invest heavily despite declining revenues, with a net cash flow from investment activities of -45.16 million yuan in 2024, worsening from the previous year [12][13]. Visitor Experience - The overall visitor reception in 2024 decreased by 8.12%, with tourism revenue from scenic spots dropping by 16.5%. Negative experiences such as high ticket prices, poor service, and frequent complaints have damaged the company's reputation [16][18][20]. Systemic Challenges - The issues faced by Guilin Tourism reflect broader systemic problems within the city, including a lack of operational autonomy for state-owned enterprises and bureaucratic inefficiencies that hinder market responsiveness [21][25][41]. - The tourism market in Guilin has been plagued by persistent issues such as overcharging and forced shopping, which have eroded trust among visitors [28][30][32]. Future Outlook - There is potential for recovery, but it requires significant reforms, including granting operational autonomy to state-owned enterprises, eliminating bureaucratic barriers, and improving visitor experiences to restore trust [38][40][41].

创业板指数日K线图 郭晨凯 制图 ◎记者 李雨琪 4月25日，A股三大指数涨跌互现，沪指盘中一度站上3300点，创业板指反弹力度较大。截至收盘，上 证指数报3295.06点，微跌0.07%；深证成指报9917.06点，涨0.39%；创业板指报1947.19点，涨0.59%。 全市场当天成交额11370亿元，与上个交易日几乎持平。 盘面上，全市场上涨个股超2800只，算力、消费电子等科技题材的修复对昨日市场情绪有所提振。拓维 信息、中际旭创、新易盛、立讯精密等细分龙头不仅涨势明显，其成交量也位居前列。其中，拓维信 息、中际旭创全天成交额分别为56.50亿元、55.24亿元，分列A股第二位、第四位。 旅游出行板块热度较高 随着"五一"假期临近，旅游景区、酒店餐饮等板块昨日走势活跃。截至收盘，天府文旅、三峡旅游涨 停，众信旅游、桂林旅游、西安旅游等纷纷跟涨。 众信旅游近日表示，随着全球旅游市场加速回暖，中国出境游市场进入了体验旅游时代。公司零售业务 品牌众信优游在去年获得5000万元Pre-A轮融资后，目前众信旅游已拥有超过2300家零售门店，并计划 2026年底在全国范围内达到5000家门店的规模。 消息面上，近 ...