Summary of Changbai Mountain Company Conference Call Industry Overview - The conference call discusses the performance and operational strategies of Changbai Mountain Company, focusing on tourism and hospitality in the context of the scenic area. Key Points Visitor Statistics - In the first three quarters of 2025, Changbai Mountain received 3.06 million visitors, a year-on-year increase of 10.4% [2][3] - In Q3 2025, the company welcomed 2.02 million visitors, marking a 20.24% increase compared to the same period last year [2][3] Revenue and Profitability - For the first three quarters of 2025, the company's revenue reached 636 million yuan, up 6.99% year-on-year, with a net profit of 149 million yuan, reflecting a 1.05% increase [3] - Q3 revenue was 400 million yuan, a 17.78% increase year-on-year, with net profit rising by 19.43% to 151 million yuan [3] Impact of Transportation Infrastructure - The opening of the Shenbai High-Speed Railway on September 28, 2025, significantly boosted visitor numbers during the National Day holiday, with arrivals at Changbai Mountain station nearly doubling [6][11] - October saw an 18.25% increase in overall visitor numbers compared to the previous year, attributed to the railway's impact [6][11] Seasonal Performance and Marketing Strategies - The company plans to conduct marketing activities during the off-peak season to extend peak periods into quieter months, such as opening the Peace Ski Resort earlier [10] - Daily visitor numbers at the Peace Ski Resort have increased significantly, with a year-on-year growth of 60% to 70% [10] Hotel Performance - The Crowne Plaza Hotel reported a 20% increase in occupancy rates in November 2025 compared to the previous year, with a 10.45% rise in revenue from available rooms [13] - The hotel achieved full occupancy for several consecutive days in mid-November, indicating strong performance heading into the winter tourism season [13] Snow Season Expectations - The company anticipates a peak season for snow tourism due to early snowfall and a long holiday period extending into February 2026 [9][8] - New projects for the snow season, such as snowmobiles and snow sculpture attractions, are expected to enhance visitor experiences [8][16] New Developments and Future Plans - The second phase of the hot spring project is expected to launch in 2026, enhancing the area's facilities and attractiveness [14] - The company has added 142 new guest rooms in the Enduri area, which are projected to contribute significantly to revenue despite a short operational period [17] Competitive Landscape - The company maintains a cooperative relationship with other businesses in the area, such as Wanda and Luneng, focusing on shared growth rather than direct competition [19] Transportation and Operational Efficiency - Since 2022, the company has increased its vehicle fleet from over 600 to 900, supporting a rise in visitor numbers from 2.75 million in 2023 to an expected 3.41 million in 2024 [20][21] - The company aims to enhance transportation capacity while managing operational costs to improve profit margins [23] Guesthouse Performance - The Enduri brand guesthouses have shown promising occupancy rates since their opening, with expectations for improved performance during the snow season [25][26] Pricing and Policy Considerations - Transportation pricing within the scenic area is regulated by provincial authorities, while external services like charter buses can set their own prices [24] This summary encapsulates the key insights and operational strategies discussed during the conference call, highlighting the company's growth trajectory and future plans in the tourism and hospitality sector.