Core Viewpoint - Shaanxi Tourism Culture Industry Co., Ltd. has received approval for its IPO application on the Shanghai Stock Exchange, aiming to raise 1.555 billion RMB [1] Group 1: Business Overview - The company integrates tourism performances, cable cars, and dining services, leveraging premium tourism resources such as Huaqing Palace and Mount Huashan to provide high-quality tourism products and services [1] - Shaanxi Tourism has established itself as a leading destination enterprise with a core business of "scenic spots + cultural tourism" [1] - The company has produced notable tourism performances, including the large-scale historical dance drama "Chang Hen Ge" and the red-themed performance "Tie Dao You Ji Zhan" [1] Group 2: Financial Performance - In the fiscal years 2022, 2023, and 2024, the company reported revenues of approximately 224 million RMB, 1.071 billion RMB, and 1.245 billion RMB, respectively [2] - The net profits for the same years were approximately -105 million RMB, 520 million RMB, and 612 million RMB, indicating a significant turnaround in profitability [2] - Total assets increased from approximately 949.1 million RMB in 2022 to about 1.829 billion RMB in 2024, while equity attributable to shareholders rose from approximately 341.7 million RMB to about 1.046 billion RMB [3] Group 3: Market Environment - The tourism industry in China is experiencing rapid growth due to rising household incomes and increased government investment in tourism and cultural industries [3] - Competition among tourism destination enterprises is intensifying, driven by innovations in tourism and cultural products, as well as efforts to enhance visitor capacity and attract tourists [3]