证券日报网讯 2月27日，三峡旅游在互动平台回答投资者提问时表示，春节期间，公司游轮产品市场需 求旺盛，热门产品出现票源紧张情况，公司通过运力调剂与产品分流，全力保障游客出行体验。近年 来，公司游轮产品接待量稳步增长，公司已于2024年新增两艘游轮投入运营，未来，公司还将综合供需 变化、差异化需求、运力投入的经济性等因素，科学审慎规划游船建造及投放，以实现运力与市场需求 的精准匹配。稳定的产品价格是企业诚信的体现，也是游客信任的基石，公司游轮产品价格为企业自主 定价，以成本结构变化、产品服务提升以及市场竞争态势为依据，兼顾游客消费预期，并严格控制幅度 和节奏，暂不采用类似机票的动态浮动定价机制。与此同时，公司更多的是着眼于"主打走量"标准 化、"中端体验"个性化、"高端尊享"定制化的产品开发思路，通过丰富产品供给，提升产品附加值来提 高收益。公司首批两艘省际度假游轮预计投入运营时间将早于原计划时间，其中首艘省际游轮"长江行· 揽月"计划于2026年4月首航。 （文章来源：证券日报） ...

（文章来源：每日经济新闻） 每经AI快讯，三峡旅游（002627.SZ）2月27日在投资者互动平台表示，1. 春节期间，公司游轮产品市场 需求旺盛，热门产品出现票源紧张情况，公司通过运力调剂与产品分流，全力保障游客出行体验。近年 来，公司游轮产品接待量稳步增长，公司已于2024年新增两艘游轮投入运营，未来，公司还将综合供需 变化、差异化需求、运力投入的经济性等因素，科学审慎规划游船建造及投放，以实现运力与市场需求 的精准匹配。2. 稳定的产品价格是企业诚信的体现，也是游客信任的基石，公司游轮产品价格为企业自 主定价，以成本结构变化、产品服务提升以及市场竞争态势为依据，兼顾游客消费预期，并严格控制幅 度和节奏，暂不采用类似机票的动态浮动定价机制。与此同时，公司更多的是着眼于"主打走量"标准 化、"中端体验"个性化、"高端尊享"定制化的产品开发思路，通过丰富产品供给，提升产品附加值来提 高收益。3. 公司首批两艘省际度假游轮预计投入运营时间将早于原计划时间，其中首艘省际游轮"长江 行·揽月"计划于2026年4月首航。 ...

Group 1: AI and Power Equipment - Alphabet plans to raise $20 billion through bond issuance, exceeding previous expectations, to invest heavily in data centers crucial for its AI strategy [1] - The global demand for high-power, stable electricity supply for AI computing is increasing, leading to a supply-demand gap in high-voltage power equipment [1] - TBEA is a leading private transformer manufacturer in China, capable of integrated services in high-voltage cables and accessories [2] Group 2: AI and Security - The integration of AI into cybersecurity is creating new opportunities, with safety and trust becoming core themes in the industry [3] - The implementation of new cybersecurity regulations in China marks a shift towards more detailed governance in the sector [3] - Anheng Information has launched China's first AI security agent, enhancing its capabilities in various security scenarios [4] Group 3: Metal Prices - The price of indium has surged to its highest level in over a decade, with a significant increase of 88% from 2500 RMB/KG to 4700 RMB/KG [5] - China accounts for 70% of global indium production, and the supply growth has been limited, indicating potential for further price increases [5] - Xiyang Co. holds the largest indium resource reserves globally, producing 101.62 tons of indium [5] Group 4: Tourism Industry - The domestic tourism market is expected to see a 300% increase in planned trips during the upcoming Spring Festival, indicating a strong recovery [6] - Companies like Sanxia Tourism are expanding their offerings to meet diverse consumer demands, including high-end cruise services [7] Group 5: AI Content Creation - Reading Group is focusing on AI-driven content creation, aiming to enhance the efficiency and value of IP development [8] - Daily Interactive provides data intelligence services, catering to the short video and short drama sectors [9] Group 6: Automotive Industry - The Ministry of Commerce is implementing measures to boost automotive consumption, including trade reforms and policies to support vehicle replacement [11] - Companies like Feilong Co. and Xingyu Co. are positioned to benefit from the anticipated growth in the automotive sector [11]

消息面上，众信旅游的数据显示，2026年春节假期国内旅游市场热度持续上涨，计划出游人数较去年同期激增300%，市场呈现"量价齐升"的态势。 《智通财经早知道》：今日复盘+明日前瞻，精选更有价值的交易资讯。 注：智通财经VIP为内容资讯产品，并非投资建议。以下内容仅为资讯价值展示非对相关公司的推荐建议，非未来走势预测。投资有风险，入市 需谨慎。 | C MIXT | | 财经通讯社 准确·快速·权威·专业 | | --- | --- | --- | | | VID CHANCE Daily N | | | | 机会目报 | | | 星期四 05 | 情绪指数 27 分 涨停 56 VS 跌停 23 (含 st) | | | 上证指数 | 深圳成指 | 创业板指 | | 4075.92 | 13952.71 | 3260.28 | | -0.64% | -1.44% | -1.55% | ~ 今日行情 今日三大指数午后跌幅收窄，此前一度跌超 1%，北证 50 指数 跌超 2%。沪深两市成交额 2.18 万亿,较上一个交易日缩量 3048亿。盘面上,全市场超 3700只个股下跌。从板块来看,大 消费板块大涨,食品饮 ...

Core Viewpoint - The report from Huaxi Securities indicates that the company is entering the inter-provincial cruise market, marking a new growth era for its tourism business, supported by its existing "Two Gorges and One Dam" tourism products [1] Group 1: Business Development - The company’s current tourism products are steadily developing, providing solid support for existing performance [1] - The upcoming launch of two high-end luxury cruises, "Yangtze Voyage·Aurora" and "Yangtze Voyage·Moon", is expected to set sail in 2026, targeting the middle-aged and elderly demographic [1] - The new cruises are anticipated to have advantages in routes and cost-performance ratio, potentially becoming stable profit contributors for the company once operational [1] Group 2: Future Growth Potential - Looking ahead, the company plans to introduce two additional inter-provincial cruises by 2028, indicating ample long-term growth opportunities [1] - The initial coverage of the company has been rated as "Buy" [1]

证券研究报告|公司深度研究报告 [Table_Date] 2026 年 2 月 4 日 [Table_Title] 布局省际游轮业务，迎接成长新纪元 [Table_Title2] 三峡旅游(002627) [Table_Summary] ► 三峡游轮：立足"两峡一坝"旅游产品体系，省际 游轮项目即将落地 三峡旅游是宜昌市旅游行业头部企业，过往业务重心包括乘 用车经销及服务业务、旅游综合服务、供应链管理业务三 块，23 年 12 月通过出售股权形式剥离资金密集型的乘用车 经销及服务业务、供应链管理业务后，旅游综合业务成为主 业，观光游轮成为收入/毛利主要支撑点。观光游轮业务主 要基于"两峡一坝"运营一日游旅游产品，包括"长江夜 游"、"升船机"、"高峡平湖"等匹配多层次观光游览需求的 产品体系，根据 25 年半年报，截至 25H1 末公司旗下游船数 量已达 32 艘，其中两坝一峡豪华观光游轮 6 艘、其他游船 24 艘、在建省际豪华游轮 2 艘，24 年观光游轮业务贡献收 入 2.06 亿元/同比+17.73%，较 19 年同期+135.01%。 ► 银发群体需求匹配：省际游轮产品有效解决中老年 客群出行痛点， ...

证券研究报告|公司深度研究报告 [Table_Date] 2026 年 2 月 4 日 [Table_Title] 布局省际游轮业务，迎接成长新纪元 [Table_Title2] 三峡旅游(002627) [Table_Summary] ► 三峡游轮：立足"两峡一坝"旅游产品体系，省际 游轮项目即将落地 三峡旅游是宜昌市旅游行业头部企业，过往业务重心包括乘 用车经销及服务业务、旅游综合服务、供应链管理业务三 块，23 年 12 月通过出售股权形式剥离资金密集型的乘用车 经销及服务业务、供应链管理业务后，旅游综合业务成为主 业，观光游轮成为收入/毛利主要支撑点。观光游轮业务主 要基于"两峡一坝"运营一日游旅游产品，包括"长江夜 游"、"升船机"、"高峡平湖"等匹配多层次观光游览需求的 产品体系，根据 25 年半年报，截至 25H1 末公司旗下游船数 量已达 32 艘，其中两坝一峡豪华观光游轮 6 艘、其他游船 24 艘、在建省际豪华游轮 2 艘，24 年观光游轮业务贡献收 入 2.06 亿元/同比+17.73%，较 19 年同期+135.01%。 ► 银发群体需求匹配：省际游轮产品有效解决中老年 客群出行痛点， ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company's performance in Q3 2025 met expectations after excluding the impact of a one-time tax payment, with a revenue increase of 9.48% year-on-year [6] - The core cruise business showed strong growth, with a 19.51% increase in total visitors, indicating robust demand [6] - The company is advancing its inter-provincial cruise project, which is expected to open new growth opportunities [6] Financial Performance Summary - For the first three quarters of 2025, the company achieved a total revenue of 609 million yuan, with a net profit of 86 million yuan, reflecting a year-on-year decline of 23.29% due to non-operational factors [6] - The company expects total revenue to reach 805 million yuan in 2025, with a projected net profit of 111 million yuan, down from previous estimates [5][6] - The gross profit margin for 2025 is estimated at 32.8%, with a return on equity (ROE) of 3.6% [5] Business Development - The company is focusing on high-value inter-provincial cruise markets, with plans to build four luxury cruise ships, enhancing its growth potential [6] - The backlog of contracts has significantly increased, indicating strong future revenue assurance [6] - The company aims to leverage both existing day tour services and new inter-provincial cruise offerings to drive future growth [6]

Core Viewpoint - The "Yangtze River Journey: Embracing the Moon" cruise ship will leverage the "mother port economy" to enhance the integration of cultural and tourism resources along the Yangtze River and promote industrial collaboration [1] Group 1: Cruise Ship Overview - The "Yangtze River Journey: Embracing the Moon" measures approximately 150 meters in length and 23 meters in width, with a maximum capacity of 650 passengers and 259 guest rooms [3] - The cruise ship is developed by the Three Gorges Tourism Group in collaboration with Wuhan Yangtze Shipbuilding Design Institute and Germany's PSD Design Group, focusing on a design philosophy of "close to nature, spacious, bright, and comfortable" to meet high-quality demands for food, accommodation, transportation, entertainment, and leisure [3][5] Group 2: Environmental and Technological Features - The cruise ship features an energy-efficient design with a hybrid power system that combines fuel and battery power, enabling a range of 1,500 kilometers and achieving over 20% energy savings compared to similar-sized vessels [3][5] - It introduces Huawei's HarmonyOS smart home system to create a fully integrated smart cabin experience, allowing guests to control lighting, curtains, air conditioning, and smart locks through voice commands or touch panels [5] Group 3: Regional Tourism Development - Yichang, located at the junction of the upper and middle reaches of the Yangtze River, is rich in tourism resources, including the Three Gorges Dam and Xiling Gorge, and is actively promoting itself as a center for new energy cruise ship manufacturing and brand output [5]

Core Viewpoint - Three Gorges Tourism (002627.SZ) reported a revenue of 367 million yuan for the first half of 2025, marking a year-on-year increase of 7.47%, and a net profit attributable to shareholders of 63.62 million yuan, up 17.74% from the previous year [1] Group 1: Financial Performance - The company achieved a revenue of 367 million yuan, reflecting a year-on-year growth of 7.47% [1] - The net profit attributable to shareholders reached 63.62 million yuan, representing a year-on-year increase of 17.74% [1] - The non-recurring net profit was 58.39 million yuan, showing a growth of 19.00% year-on-year, marking a historical high for the half-year period [1] Group 2: Business Transformation and Strategy - Three Gorges Tourism has transitioned from its original business model to focus on the tourism sector, officially changing its name in 2021 and divesting from passenger car 4S and supply chain businesses in 2023 [1] - The company reported a revenue of 286 million yuan from its comprehensive tourism business, which is a 20.20% increase year-on-year [1] - The number of tourists served by the company's cruise products reached 1.2525 million, a 10.96% increase compared to the same period in 2024, achieving a new record [1] Group 3: Future Plans and Developments - The company aims to strengthen its tourism business by leveraging the advantages of its controlling shareholder and capital operations to integrate tourism resources in the "Two Dams and One Gorge" area [2] - Three Gorges Tourism is set to launch a new inter-provincial vacation cruise brand named "Yangtze River Cruise," with the first ship, "Yangtze River Cruise·Lan Yue," scheduled to begin operations in June 2026 [2] - The projected net profit for the new cruise project upon reaching full production is estimated to be around 100 million yuan, equivalent to creating another Three Gorges Tourism [2]