长白山 20251118 摘要 长白山景区 7 月游客量同比增长 40%，8 月增长 13.9%，暑期客流增 长推动公司业绩。但上半年受新年假期提前结束和极端天气影响，公司 出现亏损。 沈白高铁 10 月开通，缩短沈阳至长白山时空距离至 4 小时，辽宁方向 游客提升近 20%。高铁提升游客行程灵活性，增加门票销售不确定性。 景区通过提前放票和实时调整票务策略应对突发天气，高铁支撑游客快 速抵达。11 月 5 日和 14 日游客量分别接近 7,000 和超过 1 万人。 秋假期间南方省市游客显著增长，浙江省游客占比达 16.73%，广东省 游客翻倍增长，对稳定 11 月客流起积极作用。 长白山温泉皇冠假日酒店前九个月入住率同比上升 0.31%，平均房价下 降 6.4%；但三季度入住率和平均房价均上涨，售房收入上升 10.45%。 包车业务及其他交通服务表现良好，前九个月主营业务收入同比增长 26.47%，第三季度包车业务收入同比增长 22.23%，净利润增幅 37.36%。 度假服务公司前九个月收入同比增长 44.74%，净利润增幅 22.25%， 第三季度收入增幅达 53.54%。"飞跃长白山"项目贡献显著。 ...

Core Insights - The opening of the Shenyang-Baishan high-speed railway has significantly boosted tourism in the Changbai Mountain area, with ticket sales for major attractions sold out during the National Day holiday [1][4][6] - The railway reduces travel time from Beijing to Changbai Mountain from six hours to approximately four and a half hours, enhancing accessibility for tourists from the Beijing-Tianjin-Hebei region [2][4] - The National Day holiday saw over 13,000 visitors arriving at Changbai Mountain station on the first day, indicating a strong demand for tourism in the region [4][6] Transportation and Accessibility - The Shenyang-Baishan high-speed railway, which officially opened on September 28, covers a distance of 430 kilometers and connects several cities, facilitating faster travel for tourists [1][2] - The railway's design speed is 350 kilometers per hour, with travel times from Shenyang to various stations significantly reduced [2] Tourism Demand and Growth - During the National Day holiday, ticket reservations for Changbai Mountain attractions were in "waiting" status, reflecting high visitor interest [6] - Data from Ctrip indicates a nearly 200% year-on-year increase in orders for tourism in Jilin Province during the holiday, with specific attractions like Changbai Mountain Valley seeing a 328% increase [6] Economic Development and Cultural Initiatives - The area around Changbai Mountain is leveraging its tourism potential by developing IP (intellectual property) economies and themed attractions, such as the "Cloud Top Palace" inspired by popular literature [7][8] - The Endu Li leisure and vacation community is positioned as a core driver of the night economy, featuring a mix of cultural, culinary, and entertainment offerings [8][10] - The Endu Li project has transformed a previously stalled asset into a vibrant tourism destination, with plans for seasonal events to attract visitors [10]

Core Insights - The opening of the Shenyang-Baishan high-speed railway has significantly boosted tourism in the Changbai Mountain area, with ticket sales for major attractions sold out during the National Day holiday [1][4][10] - The travel time from Beijing to Changbai Mountain has been reduced from six hours to approximately four and a half hours, enhancing accessibility for tourists from the Beijing-Tianjin-Hebei region [1][4] - The high-speed railway connects multiple cities, marking a milestone in the development of high-speed rail in Liaoning Province, with all 14 cities now having access to high-speed rail [4] Tourism Impact - The first day of the National Day holiday saw over 13,000 visitors arriving at Changbai Mountain Station, indicating a surge in tourist numbers [6] - The scenic area is experiencing a peak in visitor numbers, coinciding with the beautiful autumn scenery, making it a popular destination during the holiday [9] - Data from Ctrip shows that orders for tourism in Jilin Province during the holiday period have increased by nearly 200%, with specific attractions like Changbai Mountain Valley seeing a 328% increase in orders [10] Economic Development - The opening of the high-speed railway has created opportunities for local tourism and economic growth, with the establishment of various popular street markets and cultural attractions in the area [11][12] - The "Yunding Market" in Erdao Baihe Town has become a major leisure and entertainment hub, attracting tourists with its unique offerings and themed events [12] - The "Enduri" leisure and vacation community is positioned as a core driver of night economy, featuring a mix of local culture and modern entertainment [12][15] Future Prospects - The Enduri project is seen as a model for revitalizing underutilized assets, with plans for seasonal events and activities to attract more visitors during the winter [15] - Adjustments to operating hours for various attractions and markets are being made to enhance visitor experience and cater to diverse tourist needs [15]

【导读】沈白高铁开通，长白山游客如织， 10 月 1 日 — 7 日门票已售罄 中国基金报记者 晨曦 文旅搭乘高铁起飞，成为这个长假消费经济的新亮点。 来看详情 —— 沈白高铁开通 9 月 28 日，沈白高铁正式开通。这条新高铁线路全长 430 公里，串联起沈阳、抚顺、通 化、白山等多个城市，实现游客出行的 " 大提速 " ，为当地文旅产业提供更多机遇。 记者注意到，在沈白高铁开通后，从北京前往长白山的时间从此前的六个小时压缩到约四个 半小时，进一步便利京津冀地区游客前往游览。 10 月 1 日，记者通过 " 长白山景区 " 小程 序查询发现， 10 月 1 日至 10 月 7 日长白山主要景区门票均为 " 候补 " 状态。 长白山站迎来大量新游客 " 车轮一响，黄金万两 " ，随着沈白高铁的开通，长白山站迎来了游客的新高峰。 9 月 28 日，国家 " 十四五 " 规划重点项目、我国 " 八纵八横 " 高铁网主通道区域连接线 —— 沈阳至长白山高速铁路正式开通运营。沈白高铁的开通，让抚顺、通化、白山三座城市 迈入高铁时代，也宣告了辽宁省 14 个地市实现 " 市市通高铁 " 。 据悉，沈白高铁设计时速 35 ...

Group 1 - The company’s subsidiary, Yiyou Tourism Service Co., plans to purchase tickets for Changbai Mountain scenic area from its controlling shareholder, Changbai Mountain Development Group, at a 15% discount, with a total purchase amount of 15 million yuan [2][3][6] - The board of directors and supervisory board have approved this related party transaction, which does not require shareholder meeting approval [2][10][14] - The expected ticket usage is 1.5 million yuan from September to December 2025 and 11 million yuan for the year 2026, with sales completion anticipated by March 2027 [3][9] Group 2 - Changbai Mountain Development Group holds a 59.45% stake in the company, qualifying it as a controlling shareholder under relevant regulations [4][17] - The group has total assets of approximately 2.05 billion yuan and a net profit of 50.20 million yuan for the year ending December 31, 2024 [5][19] Group 3 - The pricing for the tickets is set at 89.25 yuan for full-price tickets and 44.625 yuan for half-price tickets, reflecting a 15% discount from the online selling price of 105 yuan [7][8] - The contract stipulates that the discount is valid for five years, and any remaining balance will be settled based on actual usage [7][8] Group 4 - The transaction is expected to reduce costs and enhance profit margins for the company, ensuring the interests of both the company and its shareholders are protected [9][24] - The board and supervisory board have confirmed that the transaction does not harm the company's financial status or operational results [10][26] Group 5 - The company is also involved in a separate capital increase of 20 million yuan to its subsidiary, En Duli Commercial Management Co., with the company contributing 10.2 million yuan and the controlling shareholder contributing 9.8 million yuan [13][15] - This capital increase aims to accelerate the development of the En Duli restaurant project and will not alter the existing shareholding ratios [15][21] Group 6 - The company has also entered into a related transaction to purchase 3.15 million yuan worth of ski tickets from a subsidiary of its controlling shareholder, with the aim of enhancing its offerings in the winter sports market [34][35] - The company will hold exclusive agency rights for the ski tickets, which will be marketed through both online and offline channels [36][40]