Group 1: Autumn Scenery and Tourism - The best time for leaf viewing has arrived in November, attracting many visitors to famous scenic spots in Beijing [1][5] - Beijing's National Botanical Garden features vibrant colors from ginkgo, ash trees, and maple trees, creating a picturesque environment [1] - Xiangshan Park has transformed into a colorful fairy tale world with a mix of red, orange, yellow, and green leaves [3] Group 2: Economic Impact of Leaf Viewing - The increase in visitors for leaf viewing has led to a rise in cultural, dining, and accommodation sectors in Beijing [6] - Cultural products related to red leaves have seen a revenue increase of 10% to 13% this year, driven by the launch of themed merchandise [6] - The "Maple Leaf Coffee" introduced at Xiangshan Park has become a popular item among visitors [8] Group 3: Visitor Statistics and Local Business Growth - Over 20,000 visitors have flocked to the red maple forest in Huairou's Beifang Town in the past week, boosting local dining and fruit sales [8] - A restaurant in Huairou reported a 30% increase in overall customer traffic, attributed to promotional efforts related to the red maple forest [10] - Local farmers have sold over 260,000 pounds of various fruits and vegetables during the leaf viewing period, marking a 70% year-on-year increase [12]

Core Viewpoint - The company received a notification from its shareholder, China Jilin Forest Industry Group Co., Ltd. ("Jilin Forest"), regarding a share reduction plan due to its own funding needs [1] Group 1: Shareholder Actions - Jilin Forest plans to reduce its holdings by up to 2.7236 million shares, which represents no more than 1% of the company's total share capital, within three months starting from 15 trading days after the announcement [1] - As of the announcement date, Jilin Forest holds 13.2075 million shares, accounting for 4.85% of the company's total share capital [1] - The company's other shareholder, Changbai Mountain Forest Industry Group Co., Ltd., holds 6.9477 million shares, representing 2.55% of the total share capital, bringing the combined holdings of both entities to 7.40% [1] Group 2: Share Reduction Details - The shares to be reduced were acquired prior to the company's initial public offering [1] - The timing, quantity, and price of the share reduction will depend on market conditions and stock price, indicating uncertainty in the execution of the plan [1]

Core Points - A tourist incident occurred at the Huajiang Grand Canyon Bridge in Guizhou, where a glass sightseeing elevator malfunctioned, leaving visitors stranded for two hours [1][4] - The incident highlighted significant safety management issues, as the elevator's maintenance and emergency contact information were not displayed [4][10] - Following the incident, the local authorities displayed a lack of accountability, leading to a "passing the buck" situation among different departments [7][12] Group 1: Incident Details - The elevator malfunction occurred on October 22, resulting in multiple tourists being trapped, including a safety officer [4] - After the incident, the affected tourists faced difficulties in communication with the local management, leading to a decision to cut their trip short [4][10] - The elevator was reported to be under maintenance and was expected to be repaired by December [11] Group 2: Management Response - The local tourism management initially failed to provide adequate support and communication to the affected tourists [7][12] - Following public attention on social media, the tourism management changed their approach and reached out to the affected tourist to resolve the issue [12] - The incident prompted a temporary suspension of certain attractions at the site for safety evaluations and improvements [10][11] Group 3: Public Reaction - The incident sparked widespread discussion online, with many previous visitors expressing concern and local residents apologizing for the negative experience [10] - The affected tourist expressed willingness to return to Guizhou but not to the specific attraction where the incident occurred [10] - The incident has raised awareness about the need for better safety protocols and management in tourist attractions [12]

Core Insights - The rise of NPCs (Non-Player Characters) in tourist attractions has become a significant trend, enhancing visitor engagement and experience [5][15][33] - Actors like Zheng Guolin have gained popularity by portraying historical figures in various scenic spots, leading to increased social media attention and visitor interaction [6][8][9] - The NPC phenomenon is evolving into a structured system involving celebrity NPCs, internet celebrity NPCs, and employee NPCs, creating a multi-tiered approach to attract visitors [14][28] Group 1: NPC Popularity and Impact - NPCs enhance visitor immersion and extend their stay, with data showing an average increase of 2.3 hours in visitor duration due to NPC interactions [17] - The social media presence of NPCs has led to significant engagement, with Zheng Guolin's videos receiving over 34,000 likes on Douyin [6][8] - Attractions are increasingly using NPCs to shift from traditional ticket sales to experience-driven economies, focusing on emotional connections and shareable moments [15][31] Group 2: Celebrity and Internet Celebrity Involvement - Many celebrities are participating as NPCs, with Zheng Guolin being a notable example, leading to a surge in visitor interest and social media buzz [6][9][28] - Internet celebrities and influencers are also being recruited as NPCs, capitalizing on their existing follower bases to draw visitors [10][12] - The competition for high-profile NPCs has intensified, with some attractions offering lucrative salaries and promotional opportunities to attract talent [23] Group 3: Operational Strategies and Challenges - Attractions are developing structured NPC roles with detailed guidelines to ensure consistent and engaging visitor interactions [19][22] - The sustainability of NPCs poses challenges, as many popular NPCs leave for other opportunities, necessitating a continuous influx of new talent [28][30] - Attractions are exploring diverse monetization strategies, including merchandise and collaborative events, to maximize the value of NPCs [30][31]

Summary of Long White Mountain Conference Call Company Overview - Long White Mountain reported a revenue growth of 6.99% year-on-year for the first three quarters, with a net profit increase of 1.05% [2][4] - In Q3, revenue rose by 17.78% to 400 million, and net profit increased by 19.43%, indicating accelerated growth [2][4] Industry Insights Tourism and Visitor Trends - The South Scenic Area closed on October 17 and is scheduled to reopen on May 1, 2026, which may temporarily affect visitor numbers but is expected to enhance the area's attractiveness in the long term [2] - The opening of the Shenbai High-Speed Railway has increased the proportion of visitors from Liaoning Province from 15.85% to 16.19%, with an absolute increase of approximately 14-15% [2][11] - New flight routes from cities like Guangzhou and Shenzhen are expected to significantly boost visitor numbers from Guangdong Province, which accounted for 20% of total visitors last year [2][12] Visitor Statistics - As of September 2025, the total visitor count reached 3.0619 million, a year-on-year increase of 10.4% [4] - The North Scenic Area saw a growth of 2.91%, while the West and South Scenic Areas experienced increases of 36.46% and 68.09%, respectively [4] Seasonal Outlook - The 2025 snow season is anticipated to be longer due to an early start and favorable weather conditions, with expectations of 3.8 to 3.9 million visitors, although reaching 4 million remains challenging [3][13] - The New Year holiday from February 17 to February 25, 2025, is expected to increase transportation and hotel demand, with projected visitor numbers during this period reaching 110-120 thousand [13] Financial Performance Hotel Operations - The occupancy rate of the Crowne Plaza hotel increased by 3.89% year-on-year, with an average room rate rise of 3.05% [6] - Newly opened hotels, such as Huazhu and Huazhu Luxury, reported occupancy rates of 45.76% and 39.74%, respectively, indicating positive growth trends [6] Urban Transportation Business - Revenue from urban transportation services grew by 26.47% year-on-year, although net profit declined by 2.12% due to rising costs [7] - In Q3, revenue increased by 22.23%, and net profit rose by 37.36%, showing improved profitability [7] Travel Agency Performance - The travel agency segment, including products like "Fly Over Changbai Mountain," saw a revenue increase of 44% and a net profit increase of 22% [8] Operational Developments Scenic Area Management - The company manages six surrounding scenic areas, receiving 1.57 million visitors in the first nine months, a 64% increase year-on-year, with revenue up by 42% [9] - The light asset operation model demonstrates significant growth potential despite its limited impact on overall economic indicators [9] Infrastructure and Project Updates - The second phase of the Changbai Mountain Hot Spring project is under construction, with an investment of 536 million, expected to open in Q4 2026 [17][18] - Platform upgrades and new equipment are anticipated to enhance operational capacity and visitor experience [10] Future Outlook - The company aims to achieve a visitor target of 3.8 to 3.9 million for the year, with long-term growth potential supported by improved infrastructure and management practices [21] - The expansion of the 331 National Road is expected to further enhance accessibility and support future visitor growth [21]

Core Viewpoint - The Nanshan Scenic Area has launched a seasonal product, Osmanthus Black Tea, enhancing the autumn experience for visitors by combining local tea culture with natural scenery [1] Group 1: Product Offering - The Osmanthus Black Tea is made from locally sourced black tea and freshly picked osmanthus flowers, utilizing a unique scenting process that lasts between 24 to 48 hours to blend the flavors [1] - The tea is available for tasting at the Nanshan Tea Tasting Area, where visitors can purchase tasting packages to enjoy with friends [1] Group 2: Visitor Experience - The scenic area aims to enrich visitor experiences by integrating natural landscapes with local specialty products, offering activities such as tea culture appreciation and flower viewing [1] - During autumn, visitors can enjoy the beauty of red leaves and golden osmanthus while tasting seasonal tea products, creating a multi-faceted experience of "viewing scenery, tasting tea, and appreciating autumn" [1] Group 3: Market Availability - The Osmanthus Black Tea is now available for visitors to taste on-site and purchase as a local specialty gift to take home [1]

Core Insights - The article discusses the transformation of Changbai Mountain's tourism strategy from development to quality enhancement, focusing on environmental protection and visitor experience improvement [2][3]. Group 1: Environmental Management - Changbai Mountain has shifted its development focus to quality enhancement, emphasizing standardized systems to improve visitor experience while adhering to environmental protection principles [2]. - The scenic area implements strict maximum capacity management, limiting daily visitors to 25,000 in the North area, 15,000 in the West area, and 4,000 in the South area [2]. - Measures include a zero-pollution waste management policy, banning snow-melting agents, and ensuring all operational vehicles meet environmental standards [2]. Group 2: Visitor Experience Enhancement - The scenic area has established a smart weather and ticketing system to improve the accuracy of weather forecasts and visitor arrangements, addressing visitor concerns about the unpredictability of viewing the Tianchi Lake [3]. - A standardized manual has been created to set higher operational standards than those required for national 5A tourist attractions, focusing on high-altitude and mountainous conditions [3]. - The introduction of a "first question responsibility" system ensures that the first staff member a visitor encounters is responsible for resolving any issues, eliminating the possibility of passing the buck [3]. Group 3: Ticketing and Transportation Innovations - The scenic area has implemented a free public transportation policy during peak tourist seasons and has increased bus frequency during high-demand periods [4]. - To combat ticket scalping, the ticketing system employs real-name verification, facial recognition, and time-slot reservations, ensuring fair access to tickets [4]. - The system allows for ticket reservations up to 15 days in advance and integrates with high-speed rail ticketing to enhance the purchasing experience [4].

Core Insights - The report indicates that Emei Mountain A experienced a decline in operating revenue while achieving a slight increase in net profit [1] Financial Performance - Emei Mountain A reported operating revenue of 276 million, representing a year-on-year decrease of 7.35% [1] - The net profit attributable to shareholders of the listed company was 113 million, showing a year-on-year increase of 1.38% [1]

Core Insights - Emei Mountain Tourism Co., Ltd. (Emei Mountain A, 000888.SZ) reported a decline in revenue and a slight increase in net profit for Q3 2025 [1] Financial Performance - Q3 2025 revenue was approximately 276 million RMB, a year-on-year decrease of 7.35% [1] - Q3 2025 net profit attributable to shareholders was approximately 113 million RMB, a year-on-year increase of 1.38% [1] - For the first three quarters of 2025, total revenue was approximately 733 million RMB, a year-on-year decrease of 9.06% [1] - Net profit attributable to shareholders for the first three quarters was approximately 234 million RMB, a year-on-year decrease of 3.98% [1] Visitor Statistics - From January to September 2025, Emei Mountain Scenic Area received a total of 5.1761 million visitors, a year-on-year increase of 5.44% [1] - The number of visitors entering the park was 3.411 million [1] - In Q3 2025, the scenic area received 2.1013 million visitors, a year-on-year increase of 9.39%, with 1.3157 million entering the park [1] Factors Affecting Performance - The decline in revenue and profit is attributed to a significant increase in visitors to the free-entry areas in the lower and middle mountain regions and a growing proportion of hikers [1]

Core Viewpoint - The trend of celebrities becoming NPCs (non-player characters) in tourist attractions is emerging as a new marketing strategy, effectively driving visitor engagement and ticket sales while providing a source of income for actors facing industry challenges [6][10][18]. Group 1: Celebrity NPCs as a Marketing Strategy - The presence of celebrity NPCs can significantly boost ticket sales, as evidenced by a 150% increase in ticket sales for a scenic area after a celebrity performance [8][9]. - The marketing impact of celebrity NPCs is immediate and more effective than traditional marketing campaigns, which often require substantial investment [10][9]. - The emotional value provided by celebrity NPCs enhances the visitor experience, making the ticket price worthwhile [16][19]. Group 2: Economic Viability for Actors - Many actors, facing a decline in traditional roles, are turning to NPC roles in tourist attractions as a viable source of income [18][21]. - The compensation for celebrity NPCs can be substantial, with reports indicating earnings of up to 42,000 yuan per month for certain actors, surpassing their income from short film roles [21][19]. - The trend is becoming increasingly popular among actors, leading to a competitive environment for these roles [21][24]. Group 3: Future Considerations for Tourist Attractions - Tourist attractions need to strategize on converting visitors drawn by celebrity NPCs into repeat visitors who are interested in the attractions themselves [25][29]. - Relying solely on celebrity NPCs may not be sustainable long-term; attractions must innovate to maintain visitor interest and engagement [27][29]. - Some attractions are successfully integrating local talent and creating content with celebrity NPCs to enhance their appeal and extend visitor engagement beyond the initial draw [28][29].