Core Viewpoint - Jiangsu Shouxihu Cultural Tourism Co., Ltd. is preparing for an IPO, primarily relying on its water-based sightseeing services, which account for over 85% of its revenue [1][3]. Business Overview - The company has exclusive operating rights for water-based sightseeing in the Shugang-Shouxihu scenic area for 20 years and indefinite rights in the ancient canal area [3]. - Revenue from water-based sightseeing services has grown from 31 million RMB in 2022 to 111 million RMB in 2024, with net profit increasing from 2.98 million RMB to 42.88 million RMB during the same period [3]. - The main business segments include water-based sightseeing services, sightseeing vehicle services, and scenic area management services, with the latter two contributing a smaller portion of total revenue [3]. Revenue Breakdown - Water-based sightseeing services consistently represent over 85% of total revenue from 2022 to the first half of 2025, with specific percentages of 88.3%, 87.2%, 86.2%, and 85.6% respectively [3]. - The company introduced a new project, the Grand Canal Yangzhou performance cruise, which generated 18.44 million RMB in revenue in the first half of 2025, accounting for 21.8% of total revenue [3]. - Value-added services, such as tea experiences and corporate events, contributed 35.3% to total revenue in 2024 [3]. Market Position - In the Jiangsu province water-based sightseeing ticket sales market, the company holds a 16% market share, ranking second, but only 1% in the national market, placing it tenth [4][5]. Management and Leadership - The company is led by Xu Shunmei, who has a background as a tour guide and has been instrumental in developing the "Shouxihu Boat Girl" brand [7][10]. - Xu has emphasized the importance of training for the boat girls, ensuring they are skilled in various areas, including rowing and customer interaction [8]. Challenges and Future Outlook - The company previously listed on the New Third Board in 2017 but faces challenges in achieving a successful IPO in the Hong Kong market, where tourism companies have low valuations [10].

"烟花三月下扬州"，李白的一首诗，让扬州瘦西湖的湖光山色成了无数人心中的诗意远方。如今，泛舟这片国家5A级旅游景区的公司，正准备敲开资本市 场的大门，用船桨"摇"出一个IPO（首次公开发行）。 9月，江苏瘦西湖文化旅游股份有限公司（以下简称"瘦西湖文旅"）向港交所递交了招股书。这家年营收超1亿元的企业，核心收入主要来自"划船"——85% 以上营收依赖水上游船观光服务。公司掌舵者、55岁的董事长徐顺美，早年只是一名景点导游，但凭借对文旅行业的深耕，一路走向管理层，带领企业打响 了"瘦西湖船娘"这一招牌。 图片来源：公司招股书截图 游船业务收入占比超过八成主要业务仍"困"在扬州 作为扬州市内目前唯一一家持牌的水上游船观光运营商，瘦西湖文旅拥有蜀冈—瘦西湖风景区水上游船观光20年独家经营权，并在古运河区域享有运营水上 游船观光的无期限专营资格。 水上游船业务撑起了瘦西湖文旅的业绩。2022年至2024年，公司总营收从0.31亿元增长至1.11亿元，净利润从298万元增长到4288万元。 其主营业务可以分为三大板块：水上游船观光服务、观光车服务和景区管理服务。但后两项业务在总营收中占比较低。2022年至2024年及2 ...

Core Insights - Guangdong is positioning inbound tourism as a key growth area for cultural and tourism consumption, aiming to become the "first stop for inbound tourists to experience Chinese life" [1] - The "Discover Exciting Guangdong" global promotion event was held to enhance Guangdong's global influence in inbound tourism and to advance the construction of a world-class tourism destination in the Greater Bay Area [1][4] Group 1: Event Highlights - The event featured over 300 international travel professionals and influencers from more than 60 countries, showcasing Guangdong's culture and cuisine [1] - Attendees experienced a series of interactive cultural activities, including traditional lion dances and hands-on demonstrations of eight intangible cultural heritage skills [2] - A stage performance illustrated the emotional journey of discovering, exploring, and loving Guangdong, alongside the global premiere of a promotional video [2] Group 2: Tourism Statistics and Growth - Guangdong led the national inbound tourism market in 2023, with over 39.31 million inbound visitors and tourism foreign exchange income reaching 98.8 billion yuan, both showing over 30% year-on-year growth [4] - The province's inbound tourism is particularly strong from markets such as Singapore, Malaysia, Thailand, and France, with significant growth rates noted [4] Group 3: Future Initiatives - Guangdong plans to enhance its inbound tourism market through a series of global promotional activities and product innovations, including diverse travel packages and promotional campaigns [5] - The province will collaborate with various sectors to launch promotional activities around major events, such as the 15th National Games and the Spring Festival, to boost competitiveness [5] - A new "one-stop service counter upgrade" project will be launched in partnership with SF Express to improve the inbound tourism experience [6]

Core Viewpoint - Jiangsu Shouxihu Cultural Tourism Co., Ltd. is preparing for an IPO, primarily relying on its water-based sightseeing services, which account for over 85% of its revenue [1][3]. Group 1: Business Overview - The company has exclusive operating rights for water-based sightseeing in the Shouxi Lake scenic area for 20 years and indefinite rights in the ancient canal area [3]. - Revenue from water-based sightseeing services has significantly increased from 31 million RMB in 2022 to 111 million RMB in 2024, with net profit rising from 2.98 million RMB to 42.88 million RMB [3]. - The main business segments include water-based sightseeing services, sightseeing vehicle services, and scenic area management services, with the latter two contributing a smaller portion to total revenue [3][4]. Group 2: Revenue Breakdown - Water-based sightseeing services consistently contributed over 85% of total revenue from 2022 to the first half of 2025, with specific percentages of 88.3%, 87.2%, 86.2%, and 85.6% respectively [3][4]. - The company has introduced new projects such as the "Great Canal Yangzhou" performance, which generated 18.45 million RMB in revenue in the first half of 2025, accounting for 21.8% of total revenue [4]. - Value-added services, including tea experiences and corporate events, contributed 35.3% to total revenue in 2024 [4]. Group 3: Market Position - In the Jiangsu province water-based sightseeing ticket sales market, the company holds a 16% market share, ranking second, but only 1% nationally, placing it tenth [5][6]. - The top ten water-based sightseeing service providers account for 28.2% of the market, with the company generating 9.6 million RMB in ticket revenue [6]. Group 4: Management and Strategy - The company is led by 55-year-old Xu Shunmei, who has a background as a tour guide and has been instrumental in developing the "Shouxihu Boat Girl" brand [8][10]. - The company operates 206 boats, including 36 rowing boats, with a maximum daily capacity exceeding 35,000 passengers during peak seasons [8]. - The company has previously listed on the New Third Board in 2017 and is now attempting to enter the Hong Kong stock market, facing challenges due to low valuations for tourism companies [10].

Core Insights - Guangdong is positioning inbound tourism as a key growth area for cultural and tourism consumption, aiming to become the "first stop for international visitors to experience Chinese life" [1] Group 1: Event Overview - The "Discover Exciting Guangdong" global promotion event was held in Guangzhou, marking a significant step in enhancing Guangdong's global tourism influence and promoting the Greater Bay Area as a world-class tourist destination [1] - The event attracted 300 international travel professionals and influencers from over 60 countries, showcasing Guangdong's culture and cuisine [1][2] Group 2: Cultural Experience - The event featured an immersive cultural journey, including traditional lion dances and interactive experiences with local intangible cultural heritage [2] - A stage performance illustrated the emotional connection of "Discovering Guangdong - Exploring Guangdong - Loving Guangdong," alongside the premiere of a promotional video highlighting Guangdong's cultural symbols [2] Group 3: Tourism Statistics - Guangdong has led the national inbound tourism market since 2023, with over 39.31 million inbound visitors and tourism foreign exchange income reaching 98.8 billion yuan in the first half of 2025, both showing over 30% year-on-year growth [3] - Notable growth in inbound tourism has been observed from markets such as Singapore, Malaysia, Thailand, Indonesia, France, and Russia [3] Group 4: Policy Initiatives - The Guangdong Provincial Culture and Tourism Department, in collaboration with 12 other departments, has launched 23 policy measures to facilitate high-quality development in inbound tourism, focusing on visa facilitation, product innovation, and global marketing [4] - Future initiatives will include diverse inbound tourism products and promotional activities in conjunction with major events like the 15th National Games and the Spring Festival [4] Group 5: Service Enhancements - The Guangdong Provincial Culture and Tourism Department plans to collaborate with SF Express to enhance inbound tourism services, aiming to provide a more seamless and enjoyable experience for visitors [5]

针对青岛文旅品牌升级的具体路径，沈涵提出了以啤酒文化为核心打造超级IP的系统化方案。"青岛的啤酒文化不仅是城市的重要记忆符号，更蕴含着巨 大的产业价值与情感连接潜力。"在场景体验层面，她建议创新推出"啤酒交易所"游戏化互动模式，通过数字化手段将历史城区的空间资源转化为开放 式、可参与、可延伸的啤酒文化体验场域，让游客在互动中感受青岛啤酒（600600）文化的独特魅力。 齐鲁晚报齐鲁壹点李潇高雅洁张晓鹏王鑫 10月22日，"数智文旅媒动山海"城市文旅品牌建设交流会在青岛举行。交流会上，复旦大学旅游学系教授、中国旅游研究院文旅品牌研究基地主任沈涵以 《创意与技术赋能文旅融合发展实践路径》为主题进行了分享。沈涵表示，在当前文旅产业深度转型的关键阶段，数智技术与文化创意正共同构成推动品 牌突破的核心驱动力。青岛应充分发挥其独特的资源禀赋，着力构建具有"体验共鸣"特质的城市文旅IP，在数字时代实现品牌价值的全面提升。 沈涵表示，行业的竞争逻辑正在发生根本性转变——从过去的"规模扩张"为主导，逐步转向以"创新引领"为内核的新发展阶段。她指出，随着消费需求的 升级与技术的深度融合，沉浸式业态、城市微度假、内容IP等新赛道正 ...

Core Insights - The Jiangsu Changzhou Jintan Cultural Industry Promotion Conference was held in Shanghai, highlighting Jintan's strategic location and its integration into major regional development plans [1] - Jintan has focused on developing its cultural industry, emphasizing the integration of culture, commerce, sports, and tourism, and exploring new economic avenues such as the "pet economy" and "camping economy" [1] - The region has achieved significant recognition, ranking 30th among national districts for high-quality development and 62nd for investment potential [1] Group 1 - Jintan has established a "Five New Industries" system focusing on new energy, new infrastructure, new materials, new medicine, and new intelligent equipment, with 669 enterprises projected for 2024, accounting for over 85% of the industrial enterprises [2] - The total industrial output value for the "Five New Industries" is expected to reach 2129.1 billion yuan, representing over 90% of the total industrial output [2] - Jintan has nurtured 8 listed companies, quadrupling the number from ten years ago, with significant growth in the capital market presence [2] Group 2 - The promotion conference resulted in multiple key cultural industry projects being signed, including the integration of agriculture and tourism, professional sports events, and music-related projects [2] - Jintan officials conducted visits to key cultural enterprises in Shanghai to learn from advanced practices and consider differentiated strategies for cultural industry development [2]

农村的消费理念也在不断升级。 农村居民的收入增加，消费力增强，为他们出游创造了基础。农村的消费理念也在不断升级。实际上， 也不光是旅游，近年来随着收入的增长，县乡消费快速崛起，越来越多消费品牌布局县域。 中国旅游研究院（文化和旅游部数据中心）今年3月发布的《中国国内旅游发展年度报告2024》（下称 《报告》）显示，我国一二线城市旅游客源市场渐趋成熟饱和，低线城市、县域和农村在作为重要国内 旅游目的地的同时，也成为国内旅游客源新增长点。越来越多的低线城市、县域和农村居民参与国内旅 游活动，成为旅游消费新动力，旅游已经融入广大城乡居民的日常生活。 基础设施的改善、县域地区汽车的日益普及基础上，让农村居民出游更加方便，汽车的普及也极大地扩 展了很多农村居民的出行半径。"我数了一下，我们这个村民小组里，大概只有3户人家没买汽车 了。"来自闽南安溪的林先生说，很多车不贵，二手车就更加便宜，农村用车成本很低，很多家庭都买 了车。"有了小汽车，我们就经常开着车到附近市县的景点，乃至临省的一些景点转转。有时候在抖音 上看到哪里好玩，就开着去玩。一车坐好几个人，出行成本比较低。" 近年来，农村居民出游潜力不断释放，成为我国旅游 ...

Market Overview - The three major indices in the A-share market experienced a slight decline, with the Shanghai Composite Index closing at 3913.76 points, down 0.07% [4] - The total market turnover decreased to a new low of 1.69 trillion yuan, indicating reduced trading activity [1][5] - The two financing balances increased by 14.2 billion yuan, reflecting a slight uptick in leveraged trading [1] Geopolitical and Economic Context - Recent geopolitical tensions and trade uncertainties have shown signs of easing, leading to a sell-off in traditional safe-haven assets like gold [1][2] - A joint statement from leaders including Ukraine's President Zelensky and UK Prime Minister Starmer supported a ceasefire and negotiations, contributing to a significant drop in gold prices, which fell by as much as 6.3% to approximately $4080 per ounce [2] Consumer and Tourism Sector - Domestic tourism data for the first three quarters of 2025 showed a total of 4.998 billion trips, an increase of 760 million trips year-on-year, representing a growth of 18.0% [2][3] - Urban residents accounted for 3.789 billion trips, up 15.9%, while rural residents made 1.209 billion trips, marking a 25.0% increase, indicating strong growth in the rural tourism market [2][3] Sector Performance - In the A-share market, sectors such as oil and petrochemicals, banking, and household appliances saw gains, while non-ferrous metals, electric equipment, and agriculture faced declines [4] - The overall market sentiment remains cautious, with a focus on sectors that have shown strong performance in Q3 earnings and those with sufficient adjustments in valuation [1]

新华财经上海10月22日电（谈瑞、杜康）上海市统计局、国家统计局上海调查总队22日发布2025年前三 季度上海市国民经济运行情况。根据地区生产总值统一核算结果，上海全市实现地区生产总值40721.17 亿元，为首次在前三季度突破4万亿元。按不变价格计算，同比增长5.5%，增速快于全国水平，同时也 较上半年提升0.4个百分点。 透视细类数据不难发现，金融市场活力持续释放、外贸韧性不断增强、先导产业引领升级、新消费热点 加速涌现、入境旅游带动消费回暖等亮点突出，共同构成推动前三季度上海经济高质量发展的重要支 撑。 "经济增长的'稳'体现在基础牢固，同时在产业结构优化、新质生产力培育和内需释放方面展现出'进'的 势头。"上海交通大学中国金融研究院（高金智库）副院长、上海交通大学特聘教授朱启贵评价，这 份"成绩单"展现了上海经济"稳中有进、结构优化、新动能强劲"的特征，面对国际环境复杂严峻、自身 结构调整压力较大等困难挑战，彰显出上海经济的强大韧性与高质量发展成色。 金融业实现近两位数增长，为实体经济注入强劲动能 作为国际金融中心，上海金融业前三季度贡献度与活跃度双提升，为实体经济发展注入充足"金融活 水"。 从产业 ...