Core Viewpoint - China Tourism Group's subsidiary, Hong Kong China Travel International Investment Co., has announced the acquisition of Vanke Group's Jilin Songhua Lake International Resort Development Co. and Beijing Wanbingxue Sports Co. This move is aimed at enhancing its presence in the Northeast region and capitalizing on the growing winter sports market in China [1][4][12]. Group 1: Acquisition Details - The acquisition includes Jilin Songhua Lake International Resort, which has seen over 1 million ski visitors this season, breaking the long-standing dominance of European and American ski resorts [5]. - The resort is strategically located in the "ice and snow golden latitude belt," making it one of the world's top three powder snow bases, with a ski area of 220 hectares and 50 ski trails [3][12]. - The acquisition also includes Beijing Wanbingxue Sports Co., which manages multiple ski resorts and schools, enhancing operational capabilities [5][12]. Group 2: Market Context - The summer of 2023 has been exceptionally hot globally, yet Songhua Lake remains a cool retreat, attracting visitors for both summer and winter sports [2]. - The ski industry in China has seen significant growth, with ski visits reaching 23.08 million, a 16.3% increase year-on-year, indicating a rising interest in winter sports [7]. - The Songhua Lake resort is positioned to attract both domestic and international tourists, especially with the easing of travel restrictions and promotional activities targeting new skiers [8][9]. Group 3: Strategic Implications - China Tourism Group aims to establish Songhua Lake as a leading international tourist destination, leveraging its unique ecological and climatic resources [6][12]. - The acquisition aligns with the company's strategy of focusing on scarce resources and unique cultural assets, enhancing its competitive edge in the tourism market [10][12]. - The timing of this acquisition coincides with a growing trend in winter sports participation in China, positioning the company to capitalize on this emerging market [9][12].