马婷 《长恨歌》表演现场 太华索道 ◎记者 张问之 从依托华清宫、华山等世界级资源起步，到将一部《长恨歌》打磨十八年，铸就演艺行业公认的"金字 招牌"；从深耕一方的旅游服务商，到成为近五年首家叩开A股大门的文旅企业……陕西旅游探索出一 条通过专业化运营与持续创新，让静态历史文化资源转化为高品质动态体验的可持续发展路径。 1月6日，陕西旅游登陆上交所主板。这一突破不仅为公司发展掀开新篇章，也为行业发展注入强劲的信 心。 站在资本市场的新起点，陕西旅游将如何借力资本深化主业、拓展布局？近日，陕西旅游董事长马婷接 受上海证券报记者专访，详述了公司作为行业标杆的发展逻辑与未来蓝图。 以扎实业绩叩开A股大门 "A股上市，我们倍感荣幸，更深感使命在肩。"马婷直言。作为2023年8月27日中国证监会发布《统筹 一二级市场平衡优化IPO、再融资监管安排》后首家获受理并过会的文旅企业，陕西旅游此次上市不仅 是公司自身发展的关键一步，也被视为检验文旅资产与资本市场对接可行性的重要风向标。 陕西旅游打造的"演艺+索道"双轮驱动业务模式，构成其稳固业绩基本盘的核心支撑。具体来看：以 《长恨歌》为核心的旅游演艺板块，成为拉动业绩增长的 ...

Core Insights - The national cultural tourism investment and financing market is experiencing a surge, characterized by a concentration of projects and emerging opportunities, with significant capital movements and policy support driving the transformation from "sightseeing" to "immersive experiences" in the industry [1] Group 1: Key Regional Projects - Major urban clusters are becoming the main battleground for cultural tourism investment, with landmark projects driving regional industrial upgrades. In the Guangdong-Hong Kong-Macao Greater Bay Area, the Nanhai Art Center project has a total investment of 2.018 billion, aiming to become a cultural landmark [2] - In the Yangtze River Delta, the sixth Yangtze River Delta Cultural Expo concluded with a transaction amount of 14.9 billion, highlighting the investment hotspot of "culture + technology" [2] - In the Beijing-Tianjin-Hebei region, four key projects were signed with a total investment of nearly 10 billion, including the first Ferrari World entertainment complex in Asia [3] Group 2: Capital Operations - Cultural tourism enterprises are optimizing their capital structures through IPOs, bond issuances, and equity acquisitions. Shaanxi Tourism received approval for an IPO to raise 1.555 billion for project development [4] - Salt City Cultural Tourism issued a 500 million bond to strengthen its financial reserves, while Luoyang Cultural Tourism successfully issued a 500 million high-growth industry bond [4] - Song City Performing Arts plans to acquire 100% equity of Hangzhou Song City for 963 million in cash to enhance operational efficiency [4] Group 3: Unique Regional IP Development - Regions like Northwest, Northeast, and Southwest are leveraging unique natural and cultural resources to launch distinctive projects, transitioning the industry from "sightseeing" to "experiential" tourism. The Xinjiang 577 Golden Sands Mountain Resort project has a total investment of 100 million, aiming to attract over 300,000 visitors annually [5] - In Northeast China, 14 financial institutions provided a total credit of 1.852 billion to support the ice and snow economy [5] - In Southwest China, Sichuan launched 480 cultural tourism projects worth 570 billion, including a theme park at the Chengdu Panda Base [5] Group 4: Policy and Model Innovations - The government is optimizing the investment environment for cultural tourism, with the expansion of REITs to include urban renewal facilities and hotels, enhancing financing channels [6] - Collaborative efforts between government and enterprises are being established, such as the partnership between Tianjin Dongjiang Comprehensive Bonded Zone and Tianjin Port Group to create a cultural tourism brand [6] - The Guangxi Cultural Tourism Conference focused on "cultural tourism + health care," showcasing over 270 smart tourism achievements [6] Conclusion - The combination of capital operations and policy innovations is providing solid support for the development of the cultural tourism industry, which is expected to evolve towards high-quality, immersive, and cross-regional experiences, injecting more vitality into economic growth [7]