正如中国传媒大学教授杨红所言，"旅游是展示非遗活态特征的最佳渠道"。各地正是找准了文化与旅游 的契合点，让非遗从"被观看"变为"可参与"。这种"不打扰式"的活化，既保留了古城的原真性，更让各 地非遗获得了持续的曝光度。 差异化深耕，更让各地文旅跳出"千城一面"的困局，绽放"各美其美"的独特魅力。漳州古城以布袋木偶 戏、歌仔戏为亮眼特色；泉州深耕"南音+世遗"底蕴；福州主打"闽剧+福州评话"的闽都风情；泰宁古城 则将梅林戏、泰宁山歌、客家擂茶等43项非遗"请出深闺"，让乡土文化浸润街巷。各地立足本土文化根 脉，深挖独有非遗资源，以"一地一特色"筑牢文旅辨识度，既让地域文化符号愈发鲜明，更让八方游客 在行走间感受文化的多元与厚重。 元旦假期，漳州古城闽南红砖古厝的窗台上，布袋木偶戏惊喜亮相，引得游客纷纷举着手机抓拍，叫好 声此起彼伏。而此前不久，泉州中山路百年骑楼的窗台同样化作舞台，南音、提线木偶轮番上演，一曲 《爱拼才会赢》响起，闽南人瞬间"DNA动了"，楼下游客仰头驻足，与窗台上的歌手齐声合唱，酣畅 快意的歌声感染了整条西街。各地以"小而美"的巧思活化利用古城空间，让非遗在街头巷尾的烟火日常 里活了起来、火了 ...

四川华蓥：迎新年 当地举办打铁花与无人机表演 央视网消息：元旦假期将至，全国文旅市场逐步升温，在福建和四川，当地通过独具特色的表演，给游客带来了美轮美奂的视听盛宴。 福建屏南：非遗民俗迎新年 特色表演"火凤凰"热闹登场 随着暮色渐浓，福建屏南县巴地村的一处文化广场上灯火璀璨。来自各地的游客聚集在篝火旁，翘首期盼当地的特色非遗民俗表演"畲族火凤凰"。当演 艺人员把火炭打碎成炭屑后，装进火笼，跟随着音乐的节拍，大力挥舞起挂着火笼的竹竿，火焰上下舞动，跳跃的火星酷似凤尾，仿佛一只"火凤凰"在夜空 振翅。游客们纷纷拍照留影。 在四川华蓥市，同样举办了迎新狂欢夜活动，非遗匠人手持特制工具，将高温铁水挥洒升空，瞬间绽放出漫天星火，火壶秀、风火轮表演相映成趣，金 色的火花在夜色中流转飞舞。随后，川剧变脸接续上演，现场观众近距离领略了传统戏曲的独特韵味。此外，还有上千架无人机在城市上空精准列队，先后 变换各式主题图案，引得现场观众纷纷举起手机记录这一精彩瞬间。 ...

"中国实景演出第一股"破发，映照文旅演艺行业增长承压格局 广东江门开平赤坎古镇《火秀》演出现场。 深圳商报记者肖晗文/图 12月22日，被称为"中国实景演出第一股"的印象大红袍(02695.HK)在港交所上市，开盘即破发，首日跌幅达 35.28%。23日、24日公司股价继续走低，24日收盘每股报2.02港元，较3.6港元的发行价累计跌幅达到44%。 这一表现不仅折射出市场对印象大红袍单一项目依赖的担忧，更映照出文旅演艺行业"市场持续走热，企业增 长承压"的分化格局。科技赋能、传播破圈、出海等成为企业破题选项。 收入来源单一埋下破发伏笔 公开资料显示，印象大红袍是一家国有文旅服务企业，总部位于福建省武夷山。 招股书披露的经营数据，或早已为其首日破发埋下伏笔。数据显示，印象大红袍近年业绩波动显著：2022年 至2024年及2025年上半年公司收入分别为6303.9万元、1.44亿元、1.37亿元、5588.4万元，期内净利润分别约 为-259.9万元、4750.4万元、4280.9万元、677.5万元。 市场对其信心不足的主因，更在于公司极度依赖单一收入来源的业务结构。招股书明确提示风险，公司所有 业务运营均集中 ...

Core Viewpoint - Impression Dahongpao, known as "China's first stock in live performances," faced a significant drop in its stock price after its debut on the Hong Kong Stock Exchange, reflecting market concerns over its reliance on a single project and the overall pressure on the cultural tourism performance industry [1][2]. Company Performance - Impression Dahongpao's financial performance has shown significant volatility, with revenues of 63.04 million yuan in 2022, projected to rise to 144 million yuan in 2023, but then declining to 137 million yuan in 2024, and dropping to 55.88 million yuan in the first half of 2025. Net profits have also fluctuated, with losses of approximately 2.6 million yuan in 2022, followed by profits of 4.75 million yuan in 2023, and 4.28 million yuan in 2024, before a projected profit of 677,500 yuan in the first half of 2025 [2]. - The company heavily relies on a single revenue source, with over 90% of its income coming from the "Impression Dahongpao" performance, which accounted for 91.4% to 87.8% of total revenue from 2022 to the first half of 2025 [2]. Industry Landscape - The Chinese cultural tourism performance industry is characterized by intense competition, with the top ten market participants holding only 26.3% of the market share. Major players like Songcheng Performing Arts have also reported revenue declines, with a 8.3% drop in revenue to 1.08 billion yuan in the first half of 2025 [6]. - The industry faces challenges such as high operational costs and the need for significant investment in large projects, which can range from 500 million to 1 billion yuan. Seasonal fluctuations in tourism further exacerbate operational risks [7]. Market Potential and Innovation - Despite the challenges, the cultural tourism performance market is expected to grow, with ticket sales reaching 16.39 billion yuan in the first three quarters of 2023, matching the total for the previous year. The market size is projected to increase from 4 billion yuan in 2020 to 32.8 billion yuan in 2024, with a compound annual growth rate of 68.8% [9][10]. - Companies are encouraged to innovate and enhance the quality of their offerings, shifting from merely selling tickets to providing unique experiences and emotional value. This includes leveraging local culture and technology to create immersive experiences [10][11]. - Some companies have successfully implemented innovative projects, such as the "Only Henan: Drama Fantasy City," which attracted over 40 million visitors, and Songcheng Performing Arts' international expansion efforts in Thailand [11].

Core Viewpoint - Songcheng Performance has established a unique "theme park + cultural performance" business model, gaining widespread recognition in the market and industry over nearly thirty years in the cultural tourism sector [2] Group 1: Company Achievements - The company has been recognized as one of the "Top 30 Cultural Enterprises in China" thirteen times [2] - It has received multiple national honors, including the National Cultural Industry Demonstration Base and the "Five Ones Project" award for spiritual civilization construction [2] Group 2: Future Strategy - The company plans to continue focusing on its core performance business while solidifying its unique advantages [2] - It aims to enrich content and enhance quality, thereby further consolidating its position in the industry [2]

Core Viewpoint - Impression Dahongpao officially listed on the Hong Kong Stock Exchange on December 22, with a significant drop in stock price on the first day, closing at HKD 2.33, a decline of 35.28% [1][9] Group 1: Company Overview - Impression Dahongpao was established in January 2009, primarily generating revenue from the performance and operation of the large-scale live water show "Impression Dahongpao" [3][11] - The company ranked eighth in China's cultural tourism performance market in 2024, based on sales revenue from cultural performances [3][11] - The company has faced unstable performance in recent years, with losses from 2020 to 2022, but began to recover in 2023 with revenue of CNY 143 million and a net profit of CNY 47.98 million [3][11] Group 2: Financial Performance - In 2024, revenue and net profit are projected to decline by 1.26% and 5.74%, respectively, following an 11.25% revenue growth in the first half of 2023, while net profit decreased by 18.86% [3][11] - The revenue from the "Impression Dahongpao" performance has consistently accounted for over 91% of total revenue in recent years [3][11] Group 3: Challenges and Risks - The company's reliance on a single performance creates two main issues: low growth potential and sustainability concerns, as the number of performances is expected to decrease from 567 in 2023 to 214 by mid-2025 [4][12] - The introduction of a new show, "Yueying Wuyi," scheduled to premiere on April 17, 2025, requires significant upfront capital investment and marketing expenses, which may impact profitability [4][13] - The company’s debt levels have increased significantly, with leasing liabilities rising from CNY 15.58 million to CNY 79.77 million, indicating financial pressure [4][13] Group 4: Industry Context - The cultural tourism performance sector is under pressure, with several companies reporting declines in revenue and profit margins [6][14] - Impression Dahongpao's performance metrics, including ticket sales and audience attendance, have also shown a downward trend in 2024 compared to 2023 [6][15] - The lifecycle of cultural performances typically sees a growth phase of about five years, a maturity phase of around ten years, and a need for adjustment after approximately fifteen years, which aligns with the 15-year mark since the premiere of "Impression Dahongpao" [6][15]

央视网消息：近期，上海多处商圈开启跨年迎新消费季，融合创意IP点亮冬日奇幻梦境。一些承载城市记忆的老街区褪去陈旧感，以一场 场主题市集、沉浸式表演以及艺术展陈，绘就冬日文旅消费新图景。 在上海新天地东台里6500平方米的全景天幕下，一座"极光冰雪小镇"点亮彩灯，雪人、云杉、热气球等各类装置，打造出冬日节庆氛围。 庆典期间，将有近30场极光灯光秀与40余场街区巡游表演轮番登场，打造不同风格的户外演艺现场，持续激活冬日夜经济。 东台路曾是万商云集的古玩老街与花鸟市场，在上海老城厢中见证着城市的发展和变迁。如今，东台里商业街区化身成为24小时的体验空间， 融合各类丰富业态，首店占比达到30%左右。 上海：各大商圈开启冬日亮灯模式 上海各大商圈开启冬日亮灯模式，营造出独特的节日氛围。主题化光影与故事化场景相映成趣，让商圈从购物空间变身治愈人心的冬日秘境， 在温暖氛围中为消费者解锁赏灯、打卡、体验、消费的多元新场景。 在上海的龙之梦商圈，古风街区点亮各色花灯，搭配木质廊架、亭台布景，让街区化身一处新中式打卡地。潮玩街区则引入未来剧场，以恐龙 为原型的仿生机械萌宠在街区穿梭，吸引小朋友追着互动。花艺街区则带用万盆鲜花铺就 ...

Group 1 - The article highlights the integration of technology and culture in Linyi, Shandong, through innovative performances and projects that bring historical figures to life using digital technology [1] - The "Night Painting Langya" performance features synchronized music and light shows on a moving boat, showcasing the cultural heritage of Langya with a precision of 2 seconds in synchronization [1] - The "Dazzling Yihe" light show combines historical culture with modern architecture, creating a visual narrative that connects the past with the present [1] Group 2 - Linyi is actively promoting the "Shandong Handcrafted · Made in Linyi" initiative, which focuses on the preservation and revitalization of intangible cultural heritage [2] - The city has established 297 intangible cultural heritage workshops and created 33 distinctive handcrafted villages, with 60 recognized inheritors of traditional crafts [2] - The county of Linshu is noted as the largest base for willow weaving in China, accounting for over 25% of the national export volume of willow products [2] Group 3 - The popularity of the TV series "Life of All Things" has significantly boosted tourism in the Red Sister's hometown in Yinan County, leading to a surge in visitor numbers [2] - The integration of film and tourism has revitalized the region, with immersive performances and interactive experiences attracting over 2 million visitors [2]

（文章来源：证券日报） 证券日报网讯 12月15日，宋城演艺在互动平台回答投资者提问时表示，公司致力于打造老少同乐的合 家欢文旅演艺产品，公司高度重视银发群体的需求，目前部分景区也推出定制的体验内容。公司也将持 续探索，力求为所有游客提供更优质的服务与体验。 ...

公司的主营业务为在武夷山景区的《印象·大红袍》山水实景演出。根据招股书，2023年公司实现营收 1.44亿元，净利润4750万元；2024年营收为1.37亿元，净利润4280万元；2025年上半年营收0.56亿元， 净利润677.5万元，业绩呈现一定压力。 公司核心业务具备能产生稳定现金流的业务特征，毛利率长期保持在50%以上，净利率约30%，经营性 现金流健康。然而，其核心风险在于超过94%的收入依赖于单一场演出。虽然公司已尝试通过新演出项 目《月映武夷》及文旅配套业务寻求突破，但新业务尚处培育期，短期内难以贡献利润。 此外，公司需为演出IP向关联方支付授权费，且户外演出受天气影响显著，业绩存在明显的季节性波 动。截至2025年6月末，公司因新项目租赁产生的负债有所上升。 二、稀缺题材与极小盘面 印象大红袍是港股市场为数不多的纯正文旅演艺标的，具有一定稀缺性。本次IPO全球发售股份数目较 少，若以每手1000股计算，香港公开发售部分货量极为有限，属于典型的发行规模极小、流通盘极小的 新股。 此类发行结构（无基石投资者、无回拨机制），结合其独特的区域文旅概念，在特定市场环境下容易因 供需失衡而产生较大价格波动 ...