Core Viewpoint - Emei Mountain A (000888.SZ) announced a shareholder reward program, leading to a "limit-up" in stock price, reflecting positive market response to the initiative [2][3]. Group 1: Shareholder Reward Program - The program allows shareholders holding over 500 shares to enjoy free entry to the scenic area, cable car rides, and hot springs, along with discounts for accompanying guests [2]. - Additional benefits include significant discounts on hotel stays and local products, enhancing the attractiveness of the program [2]. - Following the announcement, Emei Mountain A's stock price reached 14.16 yuan per share, with a market capitalization of 74.61 billion yuan [2][3]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported a revenue of 733 million yuan, a decrease of 9.06% year-on-year, and a net profit of 234 million yuan, down 3.98% [6][7]. - The decline in revenue and profit is attributed to a significant increase in visitors to the free-entry areas and a growing proportion of hikers [6][7]. - In the third quarter of 2025, the company received 2.1 million visitors, a 9.39% increase year-on-year, but revenue still fell by 7.35% [7]. Group 3: Industry Trends - Several tourism companies have launched similar shareholder reward programs, indicating a trend in the industry to enhance shareholder engagement through benefits [8]. - Other companies, such as Xiangyuan Tourism and Huangshan Tourism, have also introduced programs offering free or discounted access to attractions for shareholders [8].