Core Viewpoint - Shaanxi Tourism Cultural Industry Co., Ltd. is conducting its initial public offering (IPO) and aims to enhance its governance and operational efficiency while providing high-quality tourism products and services to investors and stakeholders [7][8]. Company Overview - The company focuses on the cultural tourism industry, engaging in tourism performances, cable cars, dining, and project investment and management, leveraging resources from sites like Huaqing Palace and Mount Huashan [7][12]. - The flagship product, the large-scale historical performance "The Song of Everlasting Regret," is recognized as a top tourism brand in Shaanxi and has won multiple national awards [7][8]. - The company operates the West Peak Cableway at Mount Huashan, which utilizes advanced technology and meets international safety standards [7][8]. Financial Performance - The company's main business revenue for the reporting period was as follows: 228.09 million yuan, 1.0805 billion yuan, 1.2542 billion yuan, and 512.77 million yuan [19]. - The gross profit margin for the same periods was -5.32%, 69.49%, 71.10%, and 69.61%, indicating significant fluctuations influenced by revenue changes [20]. - The net profit attributable to the parent company was -72.07 million yuan, 427.45 million yuan, 511.73 million yuan, and 204.39 million yuan, reflecting a trend consistent with revenue changes [21]. Business Development and Strategy - The company plans to capitalize on the rapid growth of the tourism industry in China, focusing on enhancing service quality and expanding its market presence both domestically and nationally [22]. - Future measures include improving service quality, strengthening marketing, and innovating products to enhance competitiveness [23]. - The company has identified several competitive advantages, including geographical location, cultural significance, and established sales channels [24][27]. Industry Context - The tourism industry in China is experiencing robust growth, with domestic tourism reaching 3.285 billion visits and generating 3.15 trillion yuan in revenue in the first half of 2025, marking a 20.6% and 15.2% increase year-on-year, respectively [29]. - Shaanxi Province aims to develop a trillion-yuan cultural tourism industry by 2025, with significant investments in infrastructure and marketing to enhance its status as a premier tourist destination [30][31]. - The overall outlook for the tourism industry remains positive, driven by rising incomes, improved infrastructure, and favorable government policies [32][34]. IPO Details - The company plans to issue up to 19.33 million shares, representing no less than 25% of the total share capital post-issue [35]. - The raised funds will be allocated to various projects, including the construction of cable car services and acquisitions to enhance operational capacity and service quality [36][37].