Core Viewpoint - The Yangtze River Three Gorges inter-provincial cruise market is currently in a critical phase of recovery and transformation, characterized by "demand rebound, structural optimization, intensified competition, and accelerated innovation" [1] Group 1: Company Overview - The company plans to operate four inter-provincial cruise ships, with the first two expected to launch in June and December 2026, and the second batch in June 2028 [1] - As of the end of 2024, there will be 12 inter-provincial cruise companies in the Yangtze River Three Gorges region, with a total of 47 cruise ships averaging 15.27 years in age, and a projected cumulative passenger volume of 1.2359 million [1] - The company operates the core tourism product "Two Dams and One Gorge," which is exclusive and does not compete with inter-provincial cruises, positioning Yichang as a major hub for inter-provincial vacation cruises [1] Group 2: Financial Projections - According to the feasibility study, the four inter-provincial cruise ships are expected to generate an operating income of 395 million yuan and a net profit of 100 million yuan in the year they reach full production, effectively creating a new revenue stream for the company [1] Group 3: Competitive Advantages - The company has established a comprehensive tourism port network centered around the Three Gorges Cruise Center, supported by Yichang Port and other ports, making it a key starting point for inter-provincial vacation cruises [2] - The first two inter-provincial cruise ships are the largest green low-carbon new energy inland cruise ships in China, featuring innovative technologies such as a hybrid power system and intelligent auxiliary driving systems [2] - The company has autonomous pricing power and focuses on developing standardized, mid-range, and customized high-end products to enhance revenue through diversified product offerings [2] Group 4: Future Plans - The company aims to expand its cruise industry scale by accelerating the construction of inter-provincial cruise ships and developing vacation cruise tourism, while also pursuing external growth to join the ranks of leading luxury cruise operators [2]