或有"过期""失真"问题，可参考别依赖 | | #AN 方家A: 西雕城进+亚班总(开口行程) | | --- | --- | | | **頭樣**: 北京 ◆ 唐陽波 ◆ 马六甲(陆麟) ◆ 青陽城 * 兰手里 * 稱城 → 臺 日 + 北京 | | | ******** PEK-KUL NUL-LEK LOK-PEN PEN-BKI BKI-PEK | | | 出发日期 天数 透阴日期 去程 填内股小计 回程 **息价 ** | | | --- | | | = 2/11 11天 2/21 ¥1,587 ¥1,145 ¥2,972 ¥5,624 | | | 2/11 12天 2/22 41,507 ¥1,145 ¥3,772 ¥6,424 | | | 2/12 11天 2/22 ¥1,755 ¥1,145 ¥3,772 ¥6,672 | | | 2/12 12% 2/23 M1,755 W1,145 42,629 46,529 | | . | 2/13 11天 2/23 ¥1,786 ¥1,145 ¥3,629 ¥6,560 | | | 2/13 12天 2/24 ¥1,786 ¥1,145 ¥2,834 ...

本报记者 张蓓 陈炳衡 杭州报道 1月17日，西湖水面上反射着介于铂金与浅灰之间的天光。《华夏时报》记者站在断桥东侧，一股混合 着湿润水汽、远处蜡梅冷香与现烤酥饼甜腻气味的风，拂过面颊。视线所及，游人的羽绒服与冲锋衣组 成流动的彩色色块，而导游陈伟那面略显褪色的杏黄旗，是其中最醒目的坐标。她的声音透过有些杂音 的扩音器传来，却带着一种笃定的清晰："这座桥的砖石，每一块都承载着比传说更厚重的历史层积。 而未来，根据杭州的规划，历史将以更可感的方式融入各位的旅程。"记者观察到，当她提及北山街 的"微更新"与即将引入的艺术项目时，团队中几位年轻游客迅速抬起了手机，并非拍照，而是打开备忘 录开始记录。 陈薇在团队自由活动间隙接受了记者采访。她拧开保温杯喝了一口水，语气平和但语速较快："变化是 具体的。去年市里和景区管理局组织了六轮专题培训，良渚玉器纹样的演变、宋代杭州城坊与当代城市 肌理的对照，都是必修课。压力大吗？当然。但需求是真实的。"她向记者展示手机里一个研学团的行 程单，上面用荧光笔标满了注记，"你看，这个寒假，来自高校的团队订单同比增加了四成。他们的问 题不再是'哪里拍照好看'，而是'宋代西湖的水利系统如何 ...

Core Viewpoint - The National Stadium in Beijing is focusing on the deep integration of culture, commerce, tourism, and sports to boost domestic demand and enhance consumption, positioning itself as a key driver of the local economy and urban branding [3][4]. Group 1: Development Strategy - The National Stadium aims to create four typical consumption scenarios: brand promotion and display for enterprises, on-site sales of well-known brands, resource alliance for external output, and ticketing linkage to expand consumption boundaries [3]. - As a core symbol of the Olympic Center, the National Stadium is set to enhance regional vitality and international influence by hosting major international events, including the World Athletics Championships in 2027 [3][4]. Group 2: Economic Impact - The 15th Ice and Snow Season at the National Stadium achieved online ticket pre-sales of 500,000, significantly contributing to surrounding industries such as accommodation, dining, and tourism [4]. - Approximately 70% of attendees at sports events and performances are from outside Beijing, with a notable demographic of 70% being under 35 years old and 70% female, indicating strong consumption potential [4]. Group 3: Future Plans - In 2025, the National Stadium plans to host 56 large-scale events, attracting over 3 million ticket buyers and generating over 13.7 billion yuan in comprehensive consumption for Beijing [5]. - The number of large-scale events in 2026 is expected to exceed 65, with an anticipated attendance of around 6 million, alongside an additional 30 million free visitors [5]. Group 4: Consumption Chain Extension - During the 14th Five-Year Plan period, the National Stadium will deepen group development and enhance tourism quality, aiming for a revenue target of over 1.2 billion yuan by 2030 [6]. - The stadium will create multi-functional consumption scenarios, integrating various industries such as food and beverage, merchandise, and advertising to promote consumption [6]. Group 5: IP Development and Sustainability - The National Stadium is developing IP products, including a mascot and related merchandise, with projected sales exceeding 100 million yuan by 2025 [7]. - The stadium has established a comprehensive operational model that includes event planning, tourism services, and commercial management, achieving over 500 million yuan in revenue in 2025 while maintaining profitability [7].

证券日报网讯 1月26日，陕西旅游发布公告称，公司于2026年1月26日召开第四届董事会第八次会议， 审议通过了《关于聘任证券事务代表的议案》，同意聘任樊帆女士为公司证券事务代表，任期自董事会 审议通过之日起至公司第四届董事会任期届满之日止。 （文章来源：证券日报） ...

Core Viewpoint - China Youth Travel Holdings Co., Ltd. reported a significant increase in revenue for 2025, achieving 11.339 billion yuan, a year-on-year growth of 13.88%, driven by the recovery of inbound and outbound tourism and steady progress in strategic investment business. However, the net profit attributable to shareholders plummeted by 47.72% to 83.8872 million yuan, indicating a notable "revenue growth without profit increase" trend [1][5]. Financial Performance - Total operating revenue reached 11.339 billion yuan, up from 9.956 billion yuan, reflecting a growth of 13.88% [3][7]. - Operating profit decreased by 35.23% to 2.691 million yuan, while total profit fell by 29.48% to 2.862 million yuan [4][8]. - Net profit attributable to shareholders dropped by 47.72% to 83.8872 million yuan, with basic earnings per share declining to 0.1159 yuan, also a 47.72% decrease [4][8]. - The weighted average return on net assets fell to 1.33%, a reduction of 1.23 percentage points compared to the previous year [4][8]. Asset Status - As of the end of the reporting period, total assets were 17.634 billion yuan, a slight decrease of 0.32% year-on-year [4][8]. - Shareholders' equity attributable to the company increased by 0.47% to 6.337 billion yuan [4][8]. - The company's share capital remained unchanged at 7.238 billion yuan, with net asset value per share rising to 8.76 yuan, an increase of 0.47% [3][7]. Industry Context - The performance of China Youth Travel is not an isolated case; the domestic tourism market is recovering, but the "revenue growth without profit increase" phenomenon is prevalent across the industry. Other companies in the cultural tourism sector, such as Huangshan Tourism and Zhongxin Tourism, have also reported revenue growth alongside declining net profits [4][8]. - Key issues affecting profitability include rising operational costs and intensified price competition due to product homogeneity [4][8].

Group 1: Consumer Trends - The Chinese consumer market is expected to show new highlights by 2025, driven by targeted policies [8] - Home appliance consumption is shifting from "basic needs" to "smart experiences," with sales of refrigerators, kitchen appliances, and communication devices increasing by 17.4%, 12.9%, and 18.6% respectively [1] - The sales of new energy passenger vehicles are projected to grow by 24.3% in volume and 21.1% in revenue by 2025 [1] Group 2: Entertainment and Travel - Immersive and scenario-based performances are gaining popularity, with sales in arts and performances expected to rise by 17.3% [2] - Travel-related services, including travel agencies and scenic spots, are anticipated to see sales growth of 11.2% and 26.1% respectively [2] Group 3: Digital and Online Services - Internet life service platforms and food delivery services are projected to grow by 9.4% and 13.3% respectively, indicating a robust expansion in online consumption [3] - Digital cultural services, including gaming and animation, are expected to see a sales increase of 16.6% [3] Group 4: Sports and Events - The sports economy, exemplified by events like "Su Super" and "Zhe BA," is emerging as a new engine for consumption, with sports exhibition services and consulting services expected to grow by 12.2% and 27.8% respectively [4] Group 5: Health and Wellness - Health management and wellness services are becoming new consumption hotspots, with sales in health consulting, wellness services, and sports health services expected to grow by 11.7%, 12%, and 16.5% respectively [5] Group 6: Aging Population - The increasing population of the elderly is driving demand for senior care services, with sales in elderly care, social assistance, and nursing home services projected to grow by 24.9%, 23.1%, and 15.4% respectively [6] Group 7: Inbound Tourism and Shopping - Measures to enhance the inbound shopping experience are expected to significantly boost consumption, with the number of foreign travelers benefiting from tax refunds increasing by 305% and sales of tax-refunded goods rising by 95.9% [7] - The number of tax refund stores has reached 12,930, with over 7,000 offering "buy and refund" services [7]

格隆汇1月26日丨中青旅(600138.SH)公布2025年年度业绩快报，2025年，公司预计实现营业收入113.39 亿元，同比增长13.88%，主要是受益于出入境旅游市场稳步恢复，旅游产品服务收入同比提升，同时 策略性投资业务稳中有进，持续为公司提供稳健的收入贡献。 报告期内，公司预计实现归属于上市公司股东的净利润8,388.72万元，同比下降47.72%。前表部分财务 数据下滑超过30%，主要原因是收入结构变化导致的净利润水平下降，其中旅游产品服务和策略性投资 业务虽收入增长较好但毛利水平相对较低，景区经营业务受细分市场竞争加剧、天气原因影响经营数据 同比有所下降，投资收益进一步降低。 ...

Core Viewpoint - The event "Please Come to Guangdong for the New Year" aims to promote cultural and tourism consumption in Guangdong, featuring various activities and subsidies to stimulate the local economy during the Spring Festival season [1][4]. Group 1: Event Overview - The main event took place in Shunde, Foshan, and is part of the broader "Guangdong Goods Go Global" initiative and the "Enjoy Warm Winter, Travel Guangdong" consumption season [1]. - The theme of the event is "Galloping Guangdong Year, Good Fortune Ahead," marking the start of the province's new spring cultural tourism consumption promotion activities [1]. Group 2: Activities and Experiences - A "one-stop" themed long table banquet was held, allowing visitors to experience a variety of culinary delights, including dishes from Shunde, Chaozhou, Hakka, and Macau [2]. - The banquet utilized holographic projection technology to enhance the presentation of dishes, merging visual art with culinary culture [2]. - The event featured a "Water Flower Street" display, showcasing themed flower boats and creating a festive atmosphere with light and sound [3]. Group 3: Subsidy Program - The second phase of the "Please Come to Guangdong for the New Year" tourism consumption subsidy program runs from January 23 to March 31, with daily limited offers starting at 9:00 AM [5][6]. - Five tiers of subsidies are available, ranging from 20 to 300 yuan, applicable to various tourism-related expenses such as travel routes, tickets, accommodations, and cultural performances [6]. - The program is accessible both online through travel platforms and offline via UnionPay's "Cloud Flash Payment" app, ensuring convenience for both domestic and international tourists [4][6]. Group 4: Broader Impact and Participation - The initiative promotes a comprehensive "eating, lodging, traveling, shopping, and entertainment" system, encouraging participation from the government, businesses, and the public [4]. - Various cities in Guangdong, including Guangzhou and Shenzhen, are organizing multiple events to showcase local cultural resources and attract visitors during the festive season [4].

格隆汇1月26日丨陕西旅游(603402.SH)公布，公司董事会于2026年1月26日收到公司副总经理王新建先 生提交的书面辞职报告，王新建先生因个人原因申请辞去公司副总经理职务。辞职后，王新建先生不再 在公司及下属子公司担任任何职务。 ...

格隆汇1月26日｜东吴证券研报指出，陕西旅游主营业务为旅游演艺、旅游索道、旅游餐饮及旅游项目 投资与管理，运营着被誉为"中国旅游文化演艺典范"的《长恨歌》大型实景历史舞剧，以及位于世界自 然与文化双遗产——华山的旅游索道等核心资产。2024年公司实现营业收入12.63亿元，同比+16.03%； 归母净利润达5.12亿元，同比+19.72%。市场景气延续，消费提质升级。2026年元旦假期，全国国内旅 游出游共计1.42亿人次，相比2024年同期增长5.2%。中央陆续出台政策文件明确支持推进文旅深度融合 发展。公司核心资产主业稳健，股东赋能增长。陕西旅游依托华清宫和华山核心资源运营演艺和索道业 务，背靠陕西省国资享受政策红利。考虑到陕西旅游新项目和股东赋能增长，首次覆盖给予"买入"评 级。 ...