Core Viewpoint - The debt crisis of Qujiang Cultural Tourism continues to escalate, with its controlling shareholder's shares being judicially frozen and auctioned, significantly impacting the company's financial performance and operational stability [3][4][5]. Shareholder and Shareholding Structure - The controlling shareholder, Xi'an Qujiang Tourism Investment Group, holds 114,511,120 shares, accounting for 44.90% of the total share capital. All of these shares have been frozen, with 210,000 shares directly frozen, 57,050,000 shares under provisional freezing, and 57,250,000 shares marked for judicial purposes [1][4]. Debt Situation - The total amount involved in the lawsuits related to the controlling shareholder's debt issues is 303.18 million yuan, with significant debts owed to various financial institutions [5]. The controlling shareholder is also under pressure due to guarantees for loans totaling 20.3 million yuan [5]. Financial Performance - In Q1 2025, the company reported a revenue decline of 23.67% to 306 million yuan, with a net loss of 43.61 million yuan, marking a staggering year-on-year drop of 2161.76% [3][11]. For the full year 2024, the company recorded a revenue of 1.253 billion yuan, down 16.68%, and a net loss of 131 million yuan, although this was a 32.79% improvement from the previous year's loss [8][11]. Operational Challenges - The company's core business segments, particularly scenic area operations, hotel and catering, and tourism product sales, have all seen significant revenue declines. The scenic area operations, which account for 52% of the main business revenue, dropped by 32.57% to 651 million yuan [9][10]. The overall gross margin has also decreased from 37.30% to 23.73% [9]. Recent Developments - The company has faced multiple instances of its shares being put up for judicial auction, with significant portions of its equity at risk. This situation has raised concerns about the controlling shareholder's ability to make decisions regarding the company's future [7][8]. The company is actively seeking to resolve these issues before judicial actions are finalized [5][6].

Core Viewpoint - Changbai Mountain Tourism Co., Ltd. is in the process of issuing A-shares to specific investors, having received approval from the Shanghai Stock Exchange, pending final registration from the China Securities Regulatory Commission [1] Group 1: Issuance Details - The company plans to issue A-shares to no more than 35 specific investors, including various institutional and individual investors, with cash subscriptions only [4] - The total amount to be raised from the issuance is capped at 235.8495 million yuan, with net proceeds intended for investment in the Changbai Mountain Volcano Hot Spring Phase II and tourism transportation equipment enhancement projects [5][6] - The issuance will not exceed 30% of the company's total share capital prior to the issuance, amounting to a maximum of 80,001,000 shares [5] Group 2: Financial Adjustments - The initial fundraising target was 435.8495 million yuan, which has been adjusted down to 235.8495 million yuan, while the intended projects remain unchanged [3] - The total investment for the Changbai Mountain Volcano Hot Spring Phase II project is 536.4892 million yuan, with 200 million yuan expected to be funded from the issuance [6] Group 3: Shareholding Structure - As of the announcement date, the company has a total share capital of 266,670,000 shares, with the controlling shareholder, Construction Group, holding 59.45% [7] - Post-issuance, Construction Group's shareholding will remain above 45.73%, ensuring no change in control of the company [7] Group 4: Regulatory Updates - The company has extended the validity period for the shareholder resolution regarding the issuance by an additional 12 months, now set to expire on December 20, 2025 [2] - A change in the sponsoring representative from Northeast Securities has been made to ensure the orderly progress of the issuance project [7]

5月14日，峨眉山旅游股份有限公司(以下简称"峨眉山A")召开业绩说明会。峨眉山A董事长许拉弟在业 绩说明会上回答《证券日报》记者提问时表示，公司高度重视、抢抓低空经济风口，积极探索"低空 +科创+旅游"发展模式。景区已开始在低空经济和无人机应用方面进行尝试，旨在满足游客需求和提升 管理服务效率。公司将低空经济视为新的增长点，未来将根据市场需要，经严格论证后适时推进低空经 济领域的发展。 峨眉山A在2024年年报中提及，公司将以市场需求为导向，加大市场拓展力度，争取尽早形成公司新的 业绩支撑点，推动公司多元化发展。 峨眉山A营销总监何群在回答《证券日报》记者提问时表示，未来将深耕文旅市场，依据峨眉山风景区 的总体规划，围绕"行、游、吃、住、娱"等旅游要素科学规划，审慎决策一批文旅项目，提升公司知名 度和景区美誉度；深化景城企一体化全域发展格局，提升资产配置水平；丰富创新产品体系，推动高质 量发展，使公司业绩稳健上升。 "我们将推进构建公司'1+N一体化营销体系'，赋能峨旅产业产能升级，助力峨旅高质量发展；此外，多 措并举，立足成渝本地市场，积极拓展全国重点市场，有序拓展海外市场；借势'赛事+文旅''体育+文 ...

[Table_MeetReportDate] 2025 年 05 月 14 日 星期三 [Table_Summary] 概览 核心观点 [Table_Title] 万联晨会 【市场回顾】 周二 A 股三大指数涨跌不一，截止收盘，沪指收涨 0.17%，深成指收 跌 0.13%，创业板指收跌 0.12%。沪深两市成交额 12913.65 亿元；申 万行业方面，银行、美容护理、医药生物领涨，国防军工、计算机、 机械设备领跌；概念板块方面，中韩自贸区、航运概念、硅能源概念 涨幅居前，中船系、国产航母、军工信息化概念跌幅居前；港股方面， 恒生指数收跌 1.87%，恒生科技指数收跌 3.26%；海外方面，美国三 大指数涨跌不一，道指收跌 0.64%，标普 500 收涨 0.72%，纳指收涨 1.61%。 【重要新闻】 【国务院关税税则委员会发布公告】自 5 月 14 日 12 时 01 分起，调 整对原产于美国的进口商品加征关税措施。其中，国务院关税税则委 员会 2025 年第 4 号公告规定的加征关税税率，由 34%调整为 10%，在 90 天内暂停实施 24%的对美加征关税税率；停止实施 2025 年第 5 号、 第 ...

营收增长利润承压，旅游景区业绩稳健 [Table_ReportType] ——社会服务行业 2024 年业绩综述报告[Table_ReportDate] [投资要点： Table_Summary] 社会服务板块全年业绩增收不增利。2024 年上市公司业绩出炉，社会 服务板块增收不增利，营业收入合计 1907.95 亿元，同比增长 6.95%， 在申万一级行业中排名第 3；归母净利润合计 73.66 亿元，同比下降 31.26%，在申万一级行业中排名第 22。 旅游及景区板块：2024 年旅游及景区板块实现营收 354.23 亿元，同比 +15.24%，归母净利润 16.73 亿元，同比+7.19%。五一黄金周居民旅游 热情高涨，旅游市场持续回暖。调休工作日的减少使得更多游客选择拼 假开启早鸟游或节末错峰游，推动长线游目的地表现亮眼，各地创新和 丰富消费场景，以多元供给激发消费潜力、市场活力，为游客带来深度 体验。 3288 酒店餐饮板块：2024 年酒店餐饮板块实现营收 298.53 亿元，同比- 1.49%，归母净利润 15.67 亿元，同比-19.73%。消费承压导致板块业绩 出现波动，全年表现不佳。行业 ...

云上恩施报道（建始通联记者 田莉 通讯员 黄昆）"你好，推荐一下去地心谷游玩的攻略……"近日，蝶舞清江地心谷景区与建始电信达成合作， 双方将共同推动景区服务的智能化升级，引领旅游行业迈入全新的科技创新时代。 在蝶舞清江地心谷景区的各大APP上，将先进的AI技术融入座机、微信公众号、小红书、微博、抖音等平台，实现了全方位、无死角的智能客服 服务，为游客带来前所未有的便捷与智能体验。 "我们来之前在小红书上搜索了攻略，他们景区的客服（AI）也给我推荐了几个打卡点，今天过来玩就比较方便。"来自北京的小张正在地之心打 卡拍照。 为了更加高效地与海外游客进行沟通交流，蝶舞清江地心谷景区还开通了电信国际专线，借助这一专线，分享其独特的自然风光和深厚的文化底 蕴，从而吸引更多海外游客慕名而来，共赏地心谷的奇景异致。 建始电信相关负责人告诉记者，此次成功实践将进一步巩固双方在智能化服务领域的领先地位，未来，将共同探索智能旅游的无限可能。 DeepSeek模型的强大功能使得AI客服能够轻松应对各种旅游咨询，无论是景区介绍、门票价格还是开放时间，都能为游客提供详尽且准确的解 答。同时，还能根据游客的个性化需求，量身定制专属的旅游 ...

如今玄学当道，越来越多的年轻人在上课和上香之间，毫不犹豫选择了后者。由于他们热衷购买各类寺庙转运法物和文创，间接促进了寺庙经济的火爆。 但寺庙经济的走红，竟能促进背后旅游公司上市，倒有些新鲜。比如正筹备上市普陀山，已经上市的峨眉山和九华山旅游股份有限公司。 这些佛教名山被包装上市的事或许会越来越多。而年轻人本想朝拜的净土，变成了上市公司一日游。资本裹挟着信仰，还是寺庙钻进了钱眼？ 寺庙"掘金"新姿势 寺庙经济之所以能火，原因在于年轻人工作上被996压得喘不过气，房价物价高得让人绝望，教育医疗费用的昂贵让家庭负担沉重。年轻人的日常就是被 焦虑推着走，内心则迫切希望找到一个能安抚情绪的一隅。寺庙，正好成了他们的"心灵慰藉所"。 在寺庙烧香拜佛，点灯祈福，再买些周边文创，仿佛能把烦恼带走。艾媒咨询的数据显示，56.5%的年轻人坦言，上香是他们释放压力的方式之一。寺庙 的香火越来越旺，不是偶然，而是年轻人集体"求佛"的缩影。 但寺庙的火爆，并不只是年轻人寻求心理安慰。它还代表了年轻人的社交需求、跟风心理。在小红书上，#寺庙旅行#有176万多篇笔记，话题浏览量突破 2.4亿。北京雍和宫、杭州灵隐寺等热门寺庙更是流量爆表 ...

Core Viewpoint - The company, Qujiang Cultural Tourism, is facing significant financial challenges, including a planned auction of shares held by its controlling shareholder due to legal issues, while also projecting a decline in revenue for the upcoming year [1][2][3]. Group 1: Share Auction and Legal Issues - The controlling shareholder, Xi'an Qujiang Tourism Investment Group, is set to auction 12 million shares of Qujiang Cultural Tourism, representing 10.48% of its holdings and 4.70% of the total share capital [1][3]. - The shares are currently frozen due to a legal dispute involving a loan guarantee, with the auction scheduled to take place on a judicial auction platform [5][6]. - The company is actively seeking to resolve the matter before judicial proceedings to protect its interests [2][5]. Group 2: Financial Performance - Qujiang Cultural Tourism has reported continuous losses over the past three years, with a total loss of 574 million yuan [2][8]. - The company's revenue for 2022, 2023, and 2024 was 891 million yuan, 1.504 billion yuan, and 1.253 billion yuan, respectively, showing a decline of 34.75% in 2022 and a further decrease of 16.68% in 2024 [8][9]. - The company expects revenue to drop by approximately 20% in 2025, projecting around 1 billion yuan in revenue [2][10]. Group 3: Business Segments and Performance - The company operates in seven major business segments, with three experiencing declines in revenue [9]. - In 2024, revenue from scenic area operations fell by 32.57% to 651 million yuan, while hotel and restaurant revenue decreased by 10.6% to 277 million yuan [9]. - Conversely, tourism services, landscaping, and sports projects showed growth, with increases of 54.01%, 35.09%, and 52.62%, respectively [9].

Core Points - The article highlights the various benefits and cultural activities prepared by the Miyun District for the upcoming "5·19 China Tourism Day" to attract citizens and tourists [3][4][28]. Group 1: Discounts and Free Tickets - Visitors can receive free admission tickets to various scenic spots by presenting train or high-speed rail tickets to Miyun Station, valid until May 31, 2025 [3][4][5]. - Specific attractions offering discounts include: - Yunlongjian Scenic Area: Free ticket with valid transportation [3]. - Yishi Manor: 98 yuan voucher for admission [3]. - Honeybee World: Free ticket with valid transportation [3]. - Gubei Water Town: Ticket available for 100 yuan [4]. - Zhangyu Aifei Castle: 20% discount on admission [4]. - Happy Squirrel Valley: 30% discount on admission [4]. Group 2: Accommodation Offers - Various accommodations are offering special spring discounts, valid until May 31, 2025: - Yundong Wild Luxury Resort: 40% off from Monday to Thursday, 50% off for stays of two days or more [6]. - Impression Yunxi Inn: Special packages with significant discounts for weekdays and weekends [7]. - Other inns and hotels are providing various discounts ranging from 20% to 50% off regular prices [10][19][24]. Group 3: Cultural Activities - The Miyun District Cultural Center is hosting a series of training classes and cultural events throughout May, including singing, dancing, and traditional arts [28][31]. - Special performances, such as a youth crosstalk event, are scheduled with ticket discounts available [31]. Group 4: Special Offers for Specific Groups - Discounts are available for labor models and other advanced groups, with significant reductions on accommodation prices [29][30].

Core Viewpoint - The article highlights the immersive experience offered by the film town in Zhengzhou, Henan, which recreates the atmosphere of "Old Zhengzhou" from the 1920s and 1930s, attracting a significant number of tourists through interactive performances and nostalgic settings [1][6][10]. Group 1: Immersive Experience - The film town features retro-style streets and shops, with neon lights illuminating old-style signs, creating a vibrant atmosphere reminiscent of a century ago [1][6]. - Actors interact with visitors throughout the street, enhancing the immersive experience as tourists can engage with them at any moment [5][8]. - The storyline of the performances takes visitors on a journey, depicting a foreign director's quest for Tai Chi in Zhengzhou, connecting various scenes within the park [10]. Group 2: Cultural Performances - The park showcases various cultural performances, including traditional iron flower displays and fire pot shows, set against a backdrop of Chinese aesthetics [12][14]. - The performances are designed to be visually stunning, with fire and light elements that enhance the overall experience for visitors [12][14]. Group 3: Night Tourism Growth - The film town has seen a surge in night tourism, with over 40,000 daily visitors during the recent "May Day" holiday, and more than 50% of them participating in night activities [17]. - The local government is enhancing night tourism by extending public transport services, ensuring safe and convenient return options for visitors [21][23]. Group 4: Broader Tourism Strategy - The surrounding area is also developing additional night entertainment options, including other theme parks that offer nighttime performances, diversifying the tourism experience [20].