Core Viewpoint - Emei Mountain A has announced a shareholder reward program that offers various benefits, including free tickets and discounts, which has positively impacted its stock price and market perception [1][2]. Group 1: Shareholder Benefits - From December 1, 2025, to January 31, 2026, shareholders holding 500 shares or more will receive free access to scenic spots, cable cars, and hot springs, along with discounts for family members [1]. - The stock price surged to its limit on December 1, indicating strong market approval of the reward program [1]. - The cost of acquiring 500 shares is approximately 6,435 yuan, with the benefits translating to at least a 3% return over two months, appealing to small investors [1]. Group 2: Cost Efficiency of the Program - The reward program is cost-effective for Emei Mountain A due to the low marginal cost associated with additional visitors, as the fixed costs of operations do not significantly increase with more guests [2]. - The free benefits are seen as an efficient use of "idle capacity," which can lead to increased revenue through secondary spending by shareholders and their families [2]. Group 3: Broader Market Trends - Shareholder reward activities have become common in the A-share market, with other companies also offering various incentives to engage their shareholders [2]. - These activities aim to transform shareholders into consumers of the company's products and services, enhancing market visibility and potentially driving revenue growth [3]. Group 4: Long-term Relationship Building - The goal of shareholder reward programs should extend beyond short-term stock price boosts to fostering a long-term relationship between the company and its investors [3][4]. - By allowing shareholders to experience the company's offerings, it can lead to a better understanding of the business model and create a stable trust relationship, encouraging long-term investment [3].

Core Viewpoint - Emei Mountain A announced a shareholder reward program offering free benefits such as tickets and discounts for shareholders holding 500 shares or more, which has positively impacted its stock price, demonstrating a strong market response to the initiative [1][2]. Group 1: Shareholder Benefits - From December 1, 2025, to January 31, 2026, shareholders with 500 or more shares will receive free access to various attractions and discounts for family members, enhancing the appeal of the investment [1]. - The stock price surged to a limit up on the first trading day after the announcement, indicating strong market approval and investor interest in the reward program [1]. Group 2: Cost Management - The reward program is cost-effective for Emei Mountain A, as the marginal cost of accommodating additional visitors is nearly zero due to fixed operational costs, allowing for efficient utilization of idle capacity [2]. - The initiative is expected to drive additional revenue through secondary spending by shareholders and their families, rather than negatively impacting profits [2]. Group 3: Market Trends - Shareholder reward activities have become common in the A-share market, with other companies also offering various incentives to engage shareholders and enhance brand loyalty [2]. - These activities serve as a means of market management, transforming shareholders into customers and potentially increasing revenue [2]. Group 4: Long-term Relationship Building - Engaging shareholders through product and service experiences fosters a deeper understanding of the company's value proposition, leading to more informed investment decisions and a stable trust relationship [3]. - The ultimate goal of such initiatives should be to convey company value and ensure long-term shareholder retention, rather than merely boosting short-term stock prices [3][4].

Core Viewpoint - Emei Mountain A announced a shareholder reward program offering free benefits such as tickets and discounts for family members, which led to a significant increase in stock price, indicating strong market approval of the initiative [2][3]. Group 1: Shareholder Benefits - From December 1, 2025, to January 31, 2026, shareholders holding 500 shares or more will receive various free benefits, including tickets and discounts on services [2]. - The stock price surged to a limit up on the first trading day after the announcement, reflecting investor enthusiasm for the reward program [2]. Group 2: Cost Efficiency - The reward program is cost-effective for Emei Mountain A, as the marginal cost of accommodating additional visitors is nearly zero due to fixed operational costs [3]. - The free benefits are seen as an efficient use of "idle capacity," which can potentially increase revenue through additional spending by shareholders and their families [3]. Group 3: Market Trends - Shareholder reward activities have become common in the A-share market, with other companies also offering various incentives to engage shareholders [3]. - These activities aim to transform shareholders into consumers of the company's products and services, enhancing market visibility and driving revenue growth [4]. Group 4: Long-term Relationship Building - The primary goal of shareholder reward programs should be to convey company value and foster long-term relationships with investors, rather than merely boosting short-term stock prices [4][5]. - By allowing shareholders to experience the company's offerings, a more stable and trusting relationship can be established, promoting value and long-term investment [4][5]. Group 5: Strategic Implementation - Companies should leverage these opportunities to showcase their products and services while actively collecting shareholder feedback [5]. - The ultimate aim of these activities is to create a closed loop of operational improvement, market value growth, and enhanced governance [5].

Group 1 - The company announced a "2025 Shareholder Reward Activity" to give back to shareholders [1] - The activity will take place from September 30 to November 30, 2025 [1] - Eligible participants are all shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1] Group 2 - Shareholders can apply for five exclusive discount coupons through a designated mini-program called "Pure Hemp Era" [1] - The activity is not classified as a profit distribution and any unused benefits will expire [1]