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瘦西湖赴港IPO,超8成收入来自水上游船业务,行业竞争激烈
Ge Long Hui· 2025-09-29 10:48
国庆假期临近,又到了旅游旺季,许多人都准备出门游山玩水了。 旅游公司是怎样赚钱的?现在的水上游览服务生意好做吗?不妨通过瘦西湖来一探究竟。 1 超8成收入来自水上游船业务,摇橹船为标志性游船 瘦西湖的收入主要来自提供水上游船观光服务、观光车服务、管理服务。 公司主要在蜀冈—瘦西湖风景区、古运河等区域运营,拥有"瘦西湖船娘"品牌,其提供的水上游船服务分为摇橹船、 自驾船、主题船三类。 2024年我国旅游消费总额达到5.8万亿元,随着推出特色旅游产品、发展夜间文化旅游经济等举措的实施,预计到2029 年中国旅游消费总额将超过10万亿元,2024年至2029年的复合年增长率为12%。 如今国内已有不少旅游上市公司,最近有做水上游船观光服务的公司冲击IPO。 格隆汇获悉,近日,江苏瘦西湖文化旅游股份有限公司(简称"瘦西湖")向港交所递交招股书,拟在香港主板上市, 光大证券国际为独家保荐人。 瘦西湖主要在扬州的知名景区运营水上游船观光服务,也许有人会误以为瘦西湖就是杭州西湖,其实他俩并不是同一 个景区。 杭州西湖以"自然山水+人文遗迹"著称,有雷峰塔、岳王庙、三潭印月等景点;而扬州瘦西湖以"狭长曲水+精巧园 林"为特色 ...
瘦西湖文旅招股书解读:净利激增1458% 董事薪酬涨200%背后的隐忧
Xin Lang Cai Jing· 2025-09-28 02:31
Business Model - The company operates as a state-owned comprehensive water tour service provider, primarily in the Yangzhou Shugang - Shouxihu Scenic Area and the Ancient Canal region, holding exclusive operational rights for water tours for 20 years and in the Ancient Canal area without time limits, capturing a 16.0% market share in Jiangsu's water tour service market [1] Diversified Business Collaboration - In addition to water tour services, the company offers sightseeing bus services and management services, with a fleet of 206 boats and 25 buses, and has introduced innovative service models such as "Boat+" and charter services [2] Financial Performance - The company's revenue has seen significant growth, with total revenues projected at approximately RMB 31 million, RMB 109 million, and RMB 111 million for 2022, 2023, and 2024 respectively, marking a 249.3% increase in 2023 compared to 2022 due to the rebound in tourism post-pandemic and the exclusive operation of sightseeing bus services starting August 2022 [3] - Net profit for the same period is projected at approximately RMB 3 million, RMB 46 million, and RMB 43 million, with a staggering increase of 1,458.1% in 2023 compared to 2022, but a decline of about 7.6% in 2024 due to rising costs [4] Profitability Metrics - Gross margin and net margin have shown volatility, with gross margins of 21.8%, 59.0%, and 54.4% for 2022, 2023, and 2024 respectively, and net margins of 9.5%, 42.6%, and 38.5% for the same years, indicating a significant rise in 2023 followed by a decrease in 2024 [5][6] Revenue Composition - Water tour services remain the primary revenue source, contributing approximately RMB 28 million, RMB 95 million, and RMB 96 million for 2022, 2023, and 2024 respectively, accounting for 88.3%, 87.2%, and 86.2% of total revenue [6][7] Management Team - The company's board consists of nine directors, including six executive directors with extensive experience in the cultural tourism industry, ensuring strong leadership and operational oversight [8] Compensation Growth - The total compensation for directors and senior management has increased significantly, with a 200% rise in 2023 compared to 2022, raising concerns about cost control despite the potential for attracting talent [9]
雪乡宣布:调价
证券时报· 2025-09-14 04:41
来源:哈尔滨日报 13日,雪乡国家森林公园发布"关于雪乡国家森林公园门票价格调整的通知": 门票价格 雪乡国家森林公园雪乡景区门票实行淡旺季价格: 旺季(11月1日—次年4月30日)为每人次140元, 淡季(5月1日—10月31日)为每人次70元。 按国家、省、市有关政策规定,对儿童、学生、老年人、现役军人、残疾人、公安民警等特定群体实 行优惠政策。 观光车价格 游客进入雪乡景区应按照规定主动购买游览参观门票,购票起48小时内有效,可在门票有效期内往返游览 景区。推荐游客在雪乡电子商务网或微信公众平台提前实名制购票。 责编:万健祎 校对: 祝甜婷 版权声明 证券时报各平台所有原创内容,未经书面授权,任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理,微信ID:SecuritiesTimes END 雪乡国家森林公园雪乡景区内观光车往返票价每人次15元。 按照"自愿有偿"的原则,是否乘坐观光车由游客自主选择,不强制提供服务。 优惠人群乘坐观光车按照以上规定执行。 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 ...
行进中国丨山沟沟变金沟沟
Ren Min Wang· 2025-08-24 12:37
Core Viewpoint - The transformation of Kang Village from a deep poverty-stricken area to a thriving tourist destination along the Duku Highway highlights the potential of leveraging local resources and tourism for economic development [2][9][10] Group 1: Economic Development - Kang Village, previously known for its poverty with an average of less than 0.76 acres of arable land per person, is now capitalizing on its geographical advantages and tourism resources [2] - The village has seen significant changes, including improved infrastructure such as road hardening, housing renovations, and the establishment of a health clinic, which have contributed to increased economic activity [5][9] - The establishment of the "Duku First Village Tourism Scenic Area" has created job opportunities, with over 60 villagers employed in various capacities, and has attracted returning university graduates [6][9] Group 2: Community Initiatives - Local initiatives led by village committees and support from external organizations have focused on developing tourism as a means to alleviate poverty and improve living standards [2][6] - The formation of cooperative ventures, such as the "Adasi Inn," has allowed villagers to share resources and profits, with some households earning between 10,000 to over 20,000 yuan annually [5][6] - The village has successfully organized collective profit-sharing events, distributing dividends ranging from 200 to 900 yuan per household, reflecting the growth of the village's collective economy [9][10] Group 3: Tourism Impact - The Duku Highway has significantly increased tourist traffic, with daily vehicle counts reaching approximately 20,000 and over 30,000 visitors, transforming the local economy [9] - The development of local attractions and services, such as coffee shops and scenic tours, has enhanced the visitor experience and contributed to the village's economic revival [9][10] - The once impoverished village is now characterized by a vibrant community atmosphere, with well-maintained homes and flourishing local businesses catering to tourists [10]
瘦西湖文旅:拟赴港上市,2024年营收1.12亿
Sou Hu Cai Jing· 2025-08-11 14:06
Core Viewpoint - Jiangsu Shouxihu Cultural Tourism Co., Ltd. is preparing for an IPO in Hong Kong, aiming to enhance its brand influence and attract strategic investors and funding [1]. Company Overview - Shouxihu has a total share capital of 27.972 million shares, with the controlling shareholder, Yangzhou Shouxihu Tourism Development Group, holding 65.24% [3]. - Other significant shareholders include Yangzhou All-region Tourism Co., Ltd. with 24.75% and Jiangsu Grand Canal (Yangzhou) Cultural Tourism Development Fund with 10% [3]. Financial Performance - For the fiscal year 2024, the company reported a revenue of 112 million yuan and a net profit of 42.87 million yuan [1][3]. - Compared to A-share tourism companies, Shouxihu is relatively small, but ranks among the top ten in revenue among over 50 similar companies listed on the New Third Board [1]. Revenue Breakdown - The core revenue driver for Shouxihu is its boat business, which generated 96.045 million yuan in 2024 [1][3]. - The sightseeing vehicle business contributed 9.2303 million yuan, while the management and operation of the Gaoyou Qingshui Lake scenic area brought in 7.0405 million yuan [1][3].