格隆汇11月13日丨桂林旅游(000978.SZ)公布,公司董事会于2025年11月13日收到公司职工董事邓军先生 提交的书面辞职报告。离任生效时间2025年11月13日，离任后不在公司及其控股子公司任职。 ...

北京商报讯（记者 吴其芸）随着浙江、四川等多地中小学陆续进入"秋假时间"，假期效应迅速传导至旅游市场。11月13日，北京商报记者从部分旅游平 台获悉，受秋假及错峰出游需求拉动，部分热门目的地及景区热度显著攀升，上海迪士尼乐园未来一周门票均已售罄。与此同时，民航出行也迎来一波小 高峰，部分热门航线机票出现供不应求现象。 北京商报记者从上海迪士尼度假区App看到，11月13日—18日的乐园一日、二日门票已全部售罄。 民航方面，航旅纵横大数据显示，11月12日—23日，国内往返四川，浙江，广东，湖北的机票平均价格（不含税）约700元，同比去年增长约7%。另据航 旅纵横民航官方直销平台，秋假期间，成都—三亚、成都—海口、杭州—厦门等航线较为热门，部分航班已显示售罄，建议有出行需求的旅客提前购买往 返机票，以免耽误行程。 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9] Core Views - In Q3 2025, the company achieved operating revenue of 595 million yuan, a year-on-year increase of 3.05%, while the net profit attributable to the parent company was 127 million yuan, a year-on-year decline of 17.17% [2][6] - The company is advancing its comprehensive layout and leveraging technology, with the AI travel assistant fully integrated with the DeepSeek model, enhancing smart interaction and service experiences [2][6] - The company is expected to benefit from improved transportation conditions and hotel renovations, leading to steady revenue growth [2][6] Summary by Sections Financial Performance - For the first three quarters of 2025, the company reported total operating revenue of 1.535 billion yuan, a year-on-year increase of 8.75%, and a net profit of 253 million yuan, down 11.02% year-on-year [6] - In Q3 2025, the company received 1.493 million visitors, a slight increase of 0.02% year-on-year, while the increase in visitor numbers did not translate into profit growth due to rising resource usage fees [12] Project Developments - The company established Huangshan Yunqu Travel Service Co., Ltd. and successfully acquired land use rights for a state-owned construction site, which is expected to diversify its tourism offerings [12] - The renovation of the Beihai Hotel was completed in Q3 2025, and it opened on September 20, which is anticipated to contribute to new revenue growth [12] Profitability Analysis - The gross margin decreased by 4.43 percentage points to 53.61% due to increased resource usage fees [12] - The net profit margin fell by 5.65 percentage points to 23.13% as a result of rising operational costs [12] Earnings Forecast - The company forecasts net profits attributable to the parent company for 2025, 2026, and 2027 to be 343 million, 382 million, and 424 million yuan, respectively, with corresponding P/E ratios of 24, 22, and 19 [12]

Core Insights - Lushan tourism has seen a significant increase in visitor numbers, with over 19.5 million visitors from January to October, representing a nearly 28% year-on-year growth [1] - The transformation of Lushan tourism is driven by a deep internal reform aimed at enhancing service quality and product offerings, aligning with national economic development plans [1] Group 1: Service Enhancements - The introduction of thoughtful services, such as free ginger tea and warm clothing rentals, has contributed to a positive visitor experience [1] - The establishment of a permanent service team at scenic spots has improved visitor interactions and satisfaction [2] - The transportation services have been upgraded with added amenities like shade structures, seating, and entertainment during peak times [2] Group 2: Innovative Tourism Products - Lushan has focused on creating immersive experiences for visitors, such as interactive light displays and character interactions in scenic areas [3] - New business ventures, including KTV bars and modern cafes, have diversified the tourism offerings and enhanced the local atmosphere [3] - The local government aims to elevate Lushan to a world-class tourist destination, emphasizing high-quality and premium tourism experiences [3]

峨眉山A公告，乐山国有资产投资运营（集团）有限公司拟将其持有的四川省峨眉山乐山大佛旅游集团 有限公司90%的股权无偿划转给乐山产业投资（集团）有限公司，导致乐山产业投资（集团）有限公司 间接收购峨眉山旅游股份有限公司32.59%的股份。本次收购完成后，峨乐旅集团仍为公司控股股东， 乐山国投和乐山产业投资（集团）有限公司为公司间接控股股东，实际控制人未发生变化。 ...

Core Insights - Lushan tourism is experiencing significant growth, with visitor numbers exceeding 19.5 million from January to October, representing a nearly 28% year-on-year increase [1] - The transformation in Lushan tourism is driven by a deep internal reform aimed at enhancing service quality and innovating tourism products, aligning with national economic development goals [1][3] Group 1: Service Enhancements - Lushan has implemented various small yet impactful services, such as free ginger tea and warm clothing rentals, which contribute to a positive visitor experience [1] - The establishment of a permanent service team at scenic spots and the introduction of amenities like shaded seating and complimentary refreshments during peak times have improved visitor comfort [2] - Enhanced facilities, including clean restrooms with free supplies and service stations offering hot water and charging, have optimized the overall visitor experience [2] Group 2: Innovative Tourism Products - Lushan is shifting from merely showcasing scenery to providing immersive experiences, with features like light effects in autumn foliage and interactive NPCs enhancing visitor engagement [3] - New entertainment options, such as KTV bars and modern dining establishments, are being introduced to attract a diverse range of tourists [3] - The local government aims to elevate Lushan's tourism to a world-class level, focusing on high-end and quality-driven development while promoting the "Lushan Tianxia You" tourism brand [3]

张连禄表示，今年景区还将开设结合越南春卷、鸡肉粉等菜式的中越融合餐饮区，开发边境主题旅游纪 念品，深化与合作区联动，丰富旅游线路，吸引更多中越游客。 中新社崇左11月10日电 题：中越边境游业态扩充 小景点添大流量 作者 俞靖 近年来，随着中越边境游火热，广西边境县域喀斯特自然风貌备受中外游客青睐，当地县域文旅业态不 断扩充，涵盖中越边境徒步观光、中越界河咖啡店等小众景点项目增多，成为承接"老牌"景区客流，带 旺县域游的新载体。 "我看好边境旅游发展，靠着为游客讲解黑叶猴等动植物知识，就能吃上'旅游饭'。"家住广西大新县榄 圩乡的赵艳芳是名"00后"，在当地的伏那秘境项目从事徒步导赏工作。她表示，新景区的涌现，为其长 期从事旅游行业提供机遇，自己可学习动植物知识，向游客科普并助力自然保护区的保护工作。 上述伏那秘境项目坐落于广西恩城国家自然保护区内，保护区拥有黑叶猴等珍稀濒危物种，喀斯特峰 丛、洼地等地貌丰富，分布有众多山溪。该项目负责人黄声钊介绍，景区增设深度徒步、自然研学等项 目，尤以水上喀斯特森林景观为人称道。同时，项目还邀请当地非遗代表性传承人走进景点，向各地游 客展示壮族天琴以及歌圩文化。 "随着伏 ...

Summary of Changbai Mountain Conference Call Industry and Company Overview - The conference call focuses on the tourism industry, specifically the Changbai Mountain scenic area, which is enhancing its infrastructure and visitor experience to boost tourism and revenue [2][3][4]. Key Points and Arguments 1. **Infrastructure Improvements**: Changbai Mountain has invested in infrastructure, including repairing platforms and adding walkways, which has increased daily visitor capacity by approximately 20% compared to last year [2][3]. 2. **Visitor Statistics**: From July to September, the scenic area received 2.02 million visitors, a year-on-year increase of 20.24%. As of the end of October, total visitors reached 3.4073 million, with a target of 4 million for the year, which is under pressure due to weather conditions [2][5]. 3. **Winter Season Initiatives**: The 2025 winter season will feature new attractions, including a "Tomb Raider" themed sculpture and cultural displays, aimed at enhancing visitor experience and increasing spending [2][5]. 4. **Transportation Enhancements**: The opening of the Shenbai High-Speed Railway on September 28, 2025, has led to a 47% increase in passenger numbers during the National Day holiday, with expectations of reaching a capacity of over 10 million annual passengers, significantly boosting visitor numbers from Beijing and North China [2][8]. 5. **Hotel Performance**: The Crowne Plaza hotel reported a year-on-year increase in occupancy rates and a 10.45% rise in revenue from available rooms. The hotel is expected to perform well throughout the year [2][13]. 6. **New Projects and Facilities**: The company is advancing several projects, including the second phase of the hot spring project and the construction of a mountain sports park, which are expected to enhance competitiveness and attract more visitors [4][18]. 7. **Marketing Strategies**: The company has implemented various marketing strategies, including special events related to the "Tomb Raider" theme, to attract and retain visitors [3][5]. 8. **Revenue Contributions from New Facilities**: The opening of the Enduri commercial street and the new operation point in Deer Horn Village is expected to increase visitor dwell time and spending, contributing positively to the company's revenue [9][10]. Additional Important Insights 1. **Seasonal Challenges**: The company faces challenges in meeting its annual visitor target due to adverse weather conditions during the winter season, but the early start of the snow season and extended New Year holidays may provide a boost [5][12]. 2. **Future Development Plans**: The company plans to develop new tourism products and facilities over the next five years, including a snow-themed project and a top-tier mountain sports park, to adapt to market demands and enhance growth opportunities [18][20]. 3. **Economic Impact of High-Speed Rail**: The high-speed rail has improved access to Northeast China's ice and snow tourism routes, facilitating better connectivity between major tourist destinations [11][12]. This summary encapsulates the key points discussed in the conference call regarding the Changbai Mountain scenic area, highlighting its strategic initiatives, visitor statistics, and future growth plans.

Core Viewpoint - Zhengzhou's cultural and tourism market is thriving in 2025, driven by new attractions and activities that enhance visitor experiences and boost economic growth [2][3][4]. Group 1: Tourism Growth and Attractions - Zhengzhou has been recognized as a top departure city and a vibrant nightlife destination, showcasing its appeal to both domestic and international tourists [2][8]. - New attractions such as the "Animal Kingdom" featuring six pandas and the "Mythical Sea World" have been introduced to attract visitors, resulting in significant visitor numbers and revenue [3]. - The "Only Henan: Drama Fantasy City" and "Jianye Movie Town" have launched new performances and nostalgic activities, enhancing cultural tourism offerings [4]. Group 2: Seasonal Events and Visitor Engagement - The city has organized over 200 cultural and tourism activities for the Spring Festival, igniting consumer interest and participation [6]. - During the May Day holiday, Zhengzhou hosted more than 1.1 million visitors, showcasing the city's ability to attract large crowds through themed events [7]. - The combination of the National Day and Mid-Autumn Festival has led to a surge in visitor numbers, with new commercial districts attracting over a million visitors shortly after opening [8]. Group 3: Cultural Integration and Community Engagement - Zhengzhou has seen a rise in cultural exhibitions and events, such as the "Confucius Tour" and various art showcases, which have increased public engagement and tourism spending [9]. - The city has implemented community-focused arts initiatives, bringing high-quality performances to local neighborhoods and enhancing cultural accessibility [10]. - Policies aimed at promoting the performing arts and cultural tourism are being introduced to further stimulate economic growth and enhance the city's cultural landscape [10].

Group 1 - The 2025-2026 Harbin Ice and Snow Season is set to launch, featuring the Yabuli National Ski Resort and the Harbin Ice and Snow World, with a total ice storage of 200,000 cubic meters prepared for the event [1] - Harbin will create three flagship ice and snow tourism attractions, with the Harbin Ice and Snow World expanding from 1 million square meters to 1.2 million square meters, utilizing 400,000 cubic meters of ice [1] - The Sun Island Snow Expo will cover 1.5 million square meters, featuring over 260 snow sculptures and various interactive experiences, while the Songhua River Ice Carnival will offer over 60 ice entertainment projects [1] Group 2 - This winter, Harbin will open over 20 ski resorts with more than 70 ski trails catering to different skill levels, enhancing accessibility for both residents and tourists [2] - The Yabuli National Ski Resort will open on November 7, featuring interconnected ski areas for a seamless skiing experience [2] - Nearby ski resorts have been upgraded to provide thrilling experiences for skiing enthusiasts [2] Group 3 - Harbin is enhancing its ice and snow tourism services by upgrading visitor centers, restrooms, and communication facilities, improving overall visitor comfort [3] - Additional warming stations and services such as hot tea will be available at major attractions to enhance visitor experience during the cold winter [3] - Transportation improvements include the introduction of 10 special bus lines for popular tourist areas, making travel more convenient [3][4]