Core Viewpoint - The 2026 upgraded version of the dance drama "Chang Hen Ge" has premiered in Xi'an, attracting nearly 10,000 viewers on its opening night, emphasizing the integration of cutting-edge technology and Tang Dynasty aesthetics for an immersive cultural experience [2][4]. Group 1: Upgraded Experience - The upgrade focuses on creating a comprehensive and immersive viewing experience, with adjustments to the audience seating layout to enhance visibility and comfort [4]. - A new CNC lighting system has been introduced to render the night scenery of Lishan and the palace atmosphere with higher precision, enhancing the poetic ambiance [4]. - The stage machinery has been precisely upgraded to allow seamless scene transitions, while the choreography has been refined to preserve the essence of Tang dance while exploring new emotional and narrative dimensions [5]. Group 2: Audience Engagement - To enhance audience participation, a pre-show interactive segment titled "Meeting at the Start" has been designed, featuring a Tang Dynasty-themed float parade to energize the atmosphere [7]. - NPCs representing Tang Dynasty characters interact with visitors, recreating the lively atmosphere of Chang'an's streets, encouraging guests to take photos [7]. - Large screen interactive quizzes are used to convey knowledge about Tang culture, transforming waiting time into a cultural experience [7]. Group 3: Emotional Connection - The performance included customized star lamps for the audience, which were synchronized to light up at the end of the show, creating a romantic scene that resonates with the starry sky of Lishan [10]. - This unique experience extends the emotional connection of the performance, enhancing the overall impact on the audience [10]. Group 4: Future Vision - The company aims to continue embedding cultural roots while leveraging technology and creative expression to innovate content and upgrade experiences, promoting cultural exchange through the stage [12]. - The goal is to revitalize the millennia-old cultural heritage in the modern era and contribute to the integration of cultural tourism and cultural outreach [12].

Core Viewpoint - Shaanxi Tourism Culture Industry Co., Ltd. has finally received acceptance for its IPO plan on the Shanghai Stock Exchange after eight years on the New Third Board, indicating a significant step towards public listing and capital raising in the recovering tourism sector [2]. Company Overview - Shaanxi Tourism is primarily controlled by Shaanxi State-owned Assets Supervision and Administration Commission, with its main business encompassing tourism performances, cable cars, dining, and project investment and management [2]. - The company's core assets include the performance "The Song of Everlasting Regret" and the cable car at Huashan Mountain [2]. Financial Performance - The company is projected to achieve revenues of CNY 1.071 billion (approximately USD 150 million) and CNY 1.245 billion (approximately USD 175 million) for the years 2023 and 2024, respectively [2]. - Net profits attributable to the parent company are expected to be CNY 418 million (approximately USD 59 million) and CNY 503 million (approximately USD 71 million) for the same years, reflecting a positive trend in performance due to the recovery of the tourism industry [2]. Revenue Breakdown - The main revenue contributors are the performance "The Song of Everlasting Regret" and the Huashan cable car, expected to generate CNY 681 million (approximately USD 96 million) and CNY 390 million (approximately USD 55 million) in 2024, accounting for 55.07% and 31.56% of total revenue, respectively [3]. - Both segments exhibit high gross margins of 84.06% and 66.73%, making them significant profit drivers for the company [3]. IPO Fundraising and Investment Projects - The company aims to raise CNY 1.555 billion (approximately USD 220 million) through the IPO, with plans to invest in seven projects, primarily focused on cable car acquisitions and related infrastructure [3][5]. - Key projects include the acquisition of equity in Taihua Cableway, Yaoguang Pavilion, and Shaohua Mountain Cableway, along with the construction of various service centers and tourist facilities [4][5]. - Notably, five out of the seven fundraising projects are related to cable car construction, with a total planned investment of CNY 876 million (approximately USD 124 million) [5]. Strategic Focus - The company is prioritizing cable car operations due to their quicker revenue generation potential compared to traditional performance-based businesses [5]. - The Taihua Cableway project is expected to have a single-direction capacity of 1,500 passengers per hour, with peak capacity reaching 3,000 passengers per hour, indicating strong operational potential [5].