Group 1 - Qujiang Cultural Tourism (曲江文旅) disclosed that Shaanxi Runyan Technology won a judicial auction for 12 million shares, representing 4.70% of the company's total shares, at an average price of approximately 9.57 yuan per share, totaling about 115 million yuan [1] - Following the share transfer, Qujiang Tourism Investment's stake in Qujiang Cultural Tourism will decrease to 37.06%, as it is currently facing a debt crisis with all its shares frozen [1] - The auction attracted significant interest, with one block of 4 million shares starting at a price of 29.4952 million yuan and receiving 261 bids before being won by Shaanxi Runyan for 39.1152 million yuan [1] Group 2 - Shaanxi Runyan was established in July 2021 with a registered capital of 5 million yuan and is fully controlled by Hong Kong Junyan Investment [2] - Li Bozheng, the actual controller of Junyan Capital, serves as the executive director and general manager of Shaanxi Runyan [2] - Junyan Investment has developed a large investment system, focusing on private equity funds, private securities, and real estate asset management [3] Group 3 - Junyan Investment has previously engaged in asset integration for local listed companies, including a significant asset restructuring involving the sale of 100% equity of two companies for a total of 8.84 billion yuan [4] - The companies involved in the restructuring have reported continuous losses since 2022, with significant net losses recorded [5] - Despite these efforts, the restructuring did not save the listed status of Renrenle, which was delisted in July 2023 [6] Group 4 - Qujiang Cultural Tourism has been experiencing continuous losses, with a projected loss of 13 million to 16.9 million yuan for the first half of 2025, and a projected non-net profit loss of 69 million to 72.9 million yuan [6]

公司回答表示：投资者您好，公司千岛湖牧心谷项目建设工作正在有序推进中，暂时没有预计的营业时 间，感谢您的关注。 金融界8月8日消息，有投资者在互动平台向三特索道提问：董秘您好，千岛湖牧心谷项目预计营业时间 是什么时候。 ...

Core Insights - The company reported a total operating revenue of 378 million yuan for the first half of 2025, representing a year-on-year decrease of 1.85% [1] - The net profit attributable to shareholders was 94.5 million yuan, down 15.86% compared to the same period last year [1] - The decline in revenue and profit is primarily attributed to adverse weather conditions, including strong winds and heavy snowfall, which increased the number of operational downtime days for the company's cable cars [1] - Additionally, the Indigo Hotel at Lugu Lake began trial operations in July 2024, but has not yet generated profit during the reporting period [1]

在西藏念青唐古拉山的深处，深藏着许多世界级的风景。近年来，随着交通条件的不断改善，这些昔日的"小众"秘境，向更多的游客敞开怀 抱。一起走进雪山秘境，看如诗美景，感受百姓在家门口吃上"旅游饭"的幸福生活。 俊秀的雪山，起伏的草甸，环抱着幽蓝的湖水。这里是藏在念青唐古拉山深处的秘境——萨普。 这里的山峰很特别。正中间那座山，山脊线条笔直，就像用尺子比着画出来的，居然一座雪山能长成如此标准的等边三角形。它的独特还来自 冰川。庞大的冰川搭起了一座高高的"舞台"，群峰立于高台之上，一展绝美的容颜。 在藏语中，"萨"是"雪豹","普"是"山沟深处"。由于道路偏远，萨普雪山少有人至，直到2017年，才因为探险者的镜头走进大众视野。在社交网 络上，这幅"牦牛过桥"的景象惊艳了许多人，人们不远千里慕名而来，只为见它一面。 当地旅游部门抓住机会，积极打造生态旅游。远道而来的游客可以策马驰骋、观景旅拍，也可以夜宿帐篷，看静夜星空的浩瀚、日照金山的震 撼，更可以在雪山脚下欣赏一场特别的实景演出——"达布阿谐"。这种由劳动场景演变而来的舞蹈，是国家级非物质文化遗产。演员们载歌载 舞，为游客带来沉浸式的非遗体验。 今年7月，萨普景区获评 ...

Core Viewpoint - Lijiang Co., Ltd. (002033.SZ) reported a decrease in institutional ownership in its semi-annual report for 2025, with a total of 7 institutional investors holding 278 million shares, representing 50.64% of the total share capital, a slight decline of 0.11 percentage points from the previous quarter [1] Institutional Ownership - As of August 7, 2025, institutional investors include Lijiang Yulong Snow Mountain Tourism Development Co., Ltd., Huabang Life Health Co., Ltd., Yunnan Yuntou Capital Operation Co., Ltd., Lijiang Yulong Snow Mountain Scenic Area Investment Management Co., Ltd., Hong Kong Central Clearing Limited, Lijiang Moses Cultural Park Co., Ltd., and Bank of China Co., Ltd. - Fortune China Securities Tourism Theme ETF [1] - The total institutional ownership decreased by 0.11 percentage points compared to the previous quarter [1] Public Fund Holdings - One public fund, Fortune China Securities Tourism Theme ETF, reported a decrease in holdings by 0.15% compared to the previous quarter [1] - One public fund, Jin Xin Consumption Upgrade Stock A, was not disclosed in the current period compared to the previous quarter [1] Foreign Investment - One foreign fund, Hong Kong Central Clearing Limited, also reported a slight decrease in holdings compared to the previous quarter [1]

Group 1 - The core objective is to establish Zhangjiajie as a world-class tourist destination by leveraging cultural and tourism integration, enhancing management, and transforming unique resources into competitive advantages [1][2] - The Duyong Ancient City project, initially a star attraction with an investment of 2.4 billion yuan, has faced significant operational challenges, accumulating losses exceeding 1 billion yuan after four years of trial operation [2][3] - Zhangjiajie received 27.82 million visitors from January to July this year, with total spending reaching 39.48 billion yuan, marking increases of 5.2% and 8.1% respectively [1] Group 2 - The Duyong Ancient City has a limited operational model, primarily consisting of commercial streets and guesthouses, which has not attracted sufficient visitor traffic [3] - The local government is actively working on revitalizing the Duyong Ancient City, aiming for a quality upgrade and operational launch by July next year, while ensuring the preservation of cultural elements [5] - Nationally, over 2,800 ancient towns have been developed or are under development, with many facing operational difficulties, as nearly 40% of related tourism enterprises are in poor financial condition [2]

Core Viewpoint - The investment management system of Lijiang Yulong Tourism Co., Ltd. aims to regulate investment activities, control risks, and enhance returns while safeguarding the interests of the company and its shareholders [1][2]. Summary by Sections General Principles - The investment management system is established based on relevant laws and regulations to ensure effective management of investment activities [1]. - Investment activities are defined as cash operations and management of idle funds to achieve capital preservation and appreciation [1]. Management Principles - The company adheres to principles of standardized operations, risk prevention, cautious investment, and value preservation, ensuring that investment activities do not disrupt normal business operations [2]. - Funds used for investment must be idle funds and should not affect operational and project construction funds [2]. Approval Authority and Decision-Making Procedures - The finance department is responsible for managing investment activities, including pre-investment analysis, execution supervision, and information disclosure [2]. - Different approval levels are established based on the percentage of assets involved in the investment, with varying authorities from the general manager to the shareholders' meeting [2][3]. Accounting Management - Upon completion of investment activities, the company must obtain relevant investment proof and timely record it in the accounts [4]. - The finance department is responsible for daily accounting of investment activities in accordance with accounting standards [5]. Risk Control and Information Disclosure - The company must select reputable financial institutions for investment and sign contracts with them [5]. - The audit department supervises investment activities, ensuring compliance with approval processes and monitoring fund usage [5]. - Any investment activities that meet disclosure standards must be reported in a timely manner according to regulations [5]. Supplementary Provisions - The board of directors is responsible for the formulation and revision of the investment management system, while the finance department executes it [6]. - The system takes effect upon approval by the board of directors [6].

（编辑 何成浩） 证券日报网讯 8月7日晚间，丽江股份发布公告称，2025年上半年实现营业收入377，703，495.14元，同 比下降1.85%；归属于上市公司股东的净利润94，502，232.85元，同比下降15.86%。 ...

证券日报网讯 8月7日晚间，丽江股份发布公告称，公司第七届监事会第二十九次会议审议通过了《关 于的议案》《关于与丽江旅投集团2025年度日常关联交易预计的议案》。 （文章来源：证券日报） ...

Core Insights - Lijiang Co., Ltd. (002033.SZ) reported a revenue of 378 million yuan for the first half of 2025, representing a year-on-year decrease of 1.85% [1] - The net profit attributable to shareholders of the listed company was 94.5 million yuan, down 15.86% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 96.1 million yuan, a decrease of 14.31% compared to the previous year [1] - Basic earnings per share were 0.172 yuan [1] Revenue and Profit Analysis - The decline in revenue and profit was attributed to increased weather-related disruptions and downtime, which negatively impacted the income and profit from the company's cableway and performance businesses [1] - Conversely, the hotel business saw revenue growth, and the extent of losses in this segment narrowed [1]