Core Insights - The article highlights the significance of the Three Gorges Project in Yichang, which contributes 10% of China's hydropower generation despite occupying only 0.2% of the country's land area [1][2] - The project has been pivotal in flood control, navigation, power generation, and water resource management since its inception in 1994, showcasing continuous innovation and development [2][3] Group 1: Flood Control and Navigation - The Three Gorges Project has successfully implemented flood control measures, utilizing its capacity to store over 2,300 billion cubic meters of water, equivalent to approximately 16,000 West Lakes, since its operation began in 2003 [2] - In the first three quarters of 2025, the Three Gorges hub facilitated the passage of 32,018 vessels, marking a 4.03% increase year-on-year, and handled over 126 million tons of cargo, reflecting an 11.15% growth [3] Group 2: Power Generation and Environmental Impact - By August 2025, the Three Gorges Power Station is expected to have generated over 18 trillion kilowatt-hours of electricity, saving 540 million tons of standard coal and reducing carbon dioxide emissions by 1.48 billion tons [2] - The project plays a crucial role in promoting a green transition in economic and social development [2] Group 3: Innovation and Technological Advancements - The Three Gorges Project has achieved over 100 world records and more than 900 patents, demonstrating its commitment to self-innovation and mastery of core technologies [4] - The project features the world's largest and most technologically advanced vertical ship lift, which can elevate vessels up to 113 meters, enhancing navigation efficiency [7] Group 4: Educational and Cultural Impact - The Three Gorges Project Museum, opened in August 2022, serves as a national-level educational platform, attracting over 88,000 visitors during the recent holiday, showcasing the project's achievements and fostering a spirit of innovation and patriotism [8]

Core Insights - The Three Gorges Hub has achieved a cumulative throughput of 128.32 million tons in the first three quarters of 2025, marking an 11.15% year-on-year increase [1] - The Three Gorges Ship Lock has handled over 125 million tons of cargo, reflecting a growth of over 13% compared to the previous year [3] - The Three Gorges Ship Lift has set a record for monthly passenger volume, reaching 86,400 in July, following a planned maintenance period [3] Group 1 - The Three Gorges Hub has facilitated the passage of 32,018 vessels, a 4.03% increase year-on-year, and has supported the transport of 33.30 million tons of essential goods [1] - The Three Gorges Ship Lock has been operational since June 18, 2003, with a cumulative cargo throughput exceeding 2.2 billion tons and annual cargo volumes consistently surpassing 100 million tons for 11 consecutive years [5] - The Three Gorges Ship Lift has been operational since 2016, transporting over 30,000 vessels and 2 million passengers, while also moving more than 19 million tons of goods [5] Group 2 - The Three Gorges Ship Lock and Ship Lift operate in a complementary manner, enhancing shipping efficiency and reducing costs, thereby injecting growth into regional industries [3] - The implementation of an intelligent scheduling system and precise maintenance measures has been crucial in meeting the increasing shipping demands [3] - Future developments include the construction of a digital twin system utilizing IoT and big data for real-time equipment monitoring and predictive maintenance, aiming for smarter operations [5]

Core Points - The Three Gorges Ship Lift in Yichang, Hubei, has successfully completed its maintenance tasks and is now back in operation for 2025 [1][2][3] Group 1 - The maintenance work was crucial for ensuring the operational efficiency and safety of the ship lift [1][2] - The successful resumption of operations is expected to enhance shipping capacity and improve logistics in the region [3][4] - The Three Gorges Ship Lift plays a significant role in facilitating navigation through the Yangtze River, impacting both local and national trade [5]

Core Points - The Three Gorges Ship Lift has successfully completed its scheduled maintenance and resumed operations on September 29, 2025 [1][5] Group 1: Maintenance Details - The scheduled maintenance began on August 25, 2025, lasting for 35 days, marking the fifth planned maintenance since the lift began operations [2] - A total of over 60 maintenance tasks were completed across seven categories, including metal structure, hydraulic, electrical, and water engineering [2] - The maintenance aimed to eliminate equipment defects and ensure the long-term safe and efficient operation of the Three Gorges navigation hub [2] Group 2: Efficiency Improvements - The maintenance process was optimized, resulting in nearly a 20% increase in efficiency for certain tasks, such as the single balance chain maintenance [2] - New equipment, including large nut column laser cleaning devices and specialized floating cranes, significantly improved cleaning efficiency by over three times and addressed challenges related to space and material transport during maintenance [5] Group 3: Operational Statistics - The Three Gorges Ship Lift is the largest and most technically advanced ship lift in the world, capable of quickly lifting vessels with a displacement of 3,000 tons [6] - Since its operation, it has safely and steadily handled 32,600 vessels, transporting over 2.02 million passengers and 19.63 million tons of cargo [6]

Market Environment - The inter-provincial cruise market on the Yangtze River is currently in a phase of recovery and transformation, characterized by "demand recovery, structural optimization, intensified competition, and accelerated innovation" [2] - As of the end of 2024, there are 12 inter-provincial cruise companies in the Yangtze River Three Gorges area, with 47 vessels averaging 15.27 years in age and a total capacity of 19,453 passengers [2] Revenue and Profit Expectations - According to the feasibility study, the operation of 4 new inter-provincial cruise vessels is expected to generate an annual revenue of CNY 395 million and a net profit of CNY 100 million in the year of full operation [4] - The project has a post-tax dynamic investment payback period of 11.90 years and a post-tax internal rate of return of 10.11%, indicating good investment returns [4] Competitive Advantages - The company plans to operate 4 inter-provincial cruise vessels, with the first two expected to launch in June and December 2026, and the second batch in June 2028 [5] - The company has over 20 years of experience in water transport and tourism services, providing a strong operational management advantage [5] - A well-structured tourism port network supports the company’s operations, with the Three Gorges Cruise Center as the main hub [5] - The company has developed a comprehensive service system for inter-provincial cruises, enhancing operational efficiency [5] - The company has a professional marketing team and a mature marketing system that combines remote, local, and online marketing strategies [6][7] Pricing Strategy - The company has the autonomy to set prices for its cruise products, with adjustments made based on service quality, cost changes, and partnerships with distributors [8] - The focus is on developing a diverse product range to enhance value rather than frequent price increases [8] Dividend Policy - The company has consistently returned profits to investors, with a cash dividend of CNY 68.94 million in 2024, representing 58.63% of the net profit [9] - The cash distribution ratio has been increased from 10% to 30% of distributable profits, with a commitment to distribute at least 50% of the average annual distributable profits over the last three years [9] Strategic Goals - The company aims to become a leader in the Yangtze River Three Gorges tourism sector and a pioneer in China's inland cruise tourism [10] - Strategies include leveraging the parent company's resources for mergers and partnerships, and expanding the cruise industry through self-built and external growth initiatives [10]

Core Viewpoint - The Three Gorges Ship Lift in Yichang, Hubei, is set to undergo planned maintenance and will be out of service in 2025, impacting shipping operations in the region [1][2][4]. Group 1 - The planned maintenance is part of a regular schedule to ensure the operational efficiency and safety of the ship lift [1][5]. - The maintenance period will be strategically planned to minimize disruptions to shipping activities [2][6]. - The Three Gorges Ship Lift is a critical infrastructure for facilitating navigation on the Yangtze River, and its temporary closure will require adjustments in shipping routes [4][5].

Core Viewpoint - The planned maintenance of the Three Gorges Ship Lift is aimed at enhancing operational reliability and safety, marking the fifth scheduled maintenance since its operation began in 2016 [1] Group 1 - The maintenance officially commenced on August 25, 2023, at 8:00 AM, with the inspection gates lowered [1] - The maintenance is scheduled to conclude on September 29, 2023, at 8:00 AM, when navigation will resume [1] - During the maintenance period, vessels meeting the technical requirements for navigation can pass through the Three Gorges double-line five-level ship lock [1]

Group 1 - The Three Gorges Ship Lift has officially commenced its planned maintenance on August 25, 2025, marking the fifth annual "check-up" since its operation began [1][3] - The ship lift is the largest and most technically challenging in the world, capable of quickly elevating vessels with a displacement of 3,000 tons, and has facilitated over 48,500 safe operations and transported more than 19 million tons of goods since its trial navigation in 2016 [1][2] Group 2 - The primary goal of the planned maintenance is to eliminate equipment defects and enhance the reliability and safety of the ship lift's operations [2] - The maintenance work involves over 60 tasks across seven categories, with participation from 15 units and more than 290 technical personnel and workers, scheduled to last for 35 days [2][4] - Compared to previous years, the workload for this maintenance has increased by nearly 20%, with a focus on complex projects and high technical requirements [4]

Core Points - The Three Gorges Ship Lift has achieved a cumulative passenger volume of over 2 million since its trial operation began in September 2016, reaching this milestone in less than 9 years [1] - The increase from 1 million to 2 million passengers took only 1 year and 7 months, indicating a rapid growth in usage [1] - The ship lift, the largest and most technically challenging vertical ship lift in the world, has a maximum lifting height of 113 meters and allows 3,000-ton vessels to pass through the dam quickly [1] Passenger Traffic - The Three Gorges Ship Lift has maintained high passenger traffic, with July alone recording a historical monthly high of 86,400 passengers [1] - The scenic beauty of the Three Gorges has attracted numerous tourists, contributing to the high volume of passenger traffic [1] Operational Efficiency - The Yangtze River Three Gorges Navigation Administration has optimized ship scheduling and enhanced safety monitoring for passenger vessels, ensuring efficient operations [1] - Technological innovations have been implemented to guarantee the safe and stable operation of the ship lift, which has completed nearly 50,000 lift operations and facilitated the passage of over 30,000 vessels [1] Economic Impact - The Three Gorges Ship Lift has not only supported the transportation of essential goods in the southwestern region but has also stimulated economic development along the route through a "transportation + tourism" model [1] - The cargo volume transported through the ship lift has exceeded 19 million tons, highlighting its significance in logistics and regional economic activities [1]

Core Insights - The Three Gorges Ship Lift is the largest and most technically challenging vertical ship lift in the world, with a maximum lifting height of 113 meters, allowing 3,000-ton vessels to transit quickly through the dam in an elevator-like manner [2] - The tourism route "Two Dams and One Gorge" has seen a significant increase in popularity, with July recording a monthly passenger volume of 86,400, setting a historical high for monthly passenger traffic [2] - The cumulative passenger volume has increased from 1 million to 2 million in just 1 year and 7 months, establishing a global record for similar projects [2] Industry Impact - Since its trial operation in 2016, the Three Gorges Ship Lift has safely operated nearly 50,000 times, facilitating the passage of over 30,000 vessels and achieving a freight volume exceeding 19 million tons [4] - The ship lift not only supports the transportation of essential goods in the southwestern region but also promotes economic development along the route through a "transportation + tourism" model, successfully transforming a "hardcore transportation facility" into a popular tourism IP [4]