Core Viewpoint - The purpose of the delisting of Fosun Tourism is to "retreat for advancement," allowing for more strategic choices and better resource allocation, avoiding short-term market fluctuations [1] Group 1: Privatization and Strategic Shift - Fosun Tourism announced a privatization plan that received over 99% approval, marking the beginning of its delisting countdown [1] - The company aims to accelerate its transition to a light asset model post-privatization, focusing on product innovation and core competitiveness [6][8] - The CEO emphasized the importance of long-term thinking and product-driven strategies in the company's governance and product line development [1][8] Group 2: Vacation Business Focus - Fosun Tourism will develop three vacation directions: urban vacations, destination vacations, and super integrated vacation complexes [1][4] - The company has established 70 Mediterranean resorts across 26 countries, indicating a strong commitment to the vacation sector [2] - The ice and snow economy is a key focus, with 24 ski-themed resorts projected to generate 5 billion yuan in revenue in 2024 [3] Group 3: Project Developments - The Taicang Alps International Resort's first phase has welcomed over 1 million visitors since its opening in October 2023, with the second phase set to begin construction with an investment of approximately 5 billion yuan [3] - The second phase will include an indoor ski resort and various entertainment projects, aiming to set new benchmarks in China's snow vacation market [3] Group 4: Market Challenges and Long-term Outlook - The competitive landscape in the leisure vacation sector is intensifying, with many companies focusing on vacation offerings, posing challenges for Fosun Tourism [6][7] - The shift to a light asset model means profitability will rely on brand licensing fees and management fees, which are influenced by market conditions [7] - Despite short-term pressures, the CEO believes that long-term value can be achieved if the company scales effectively [8][9]