Core Viewpoint - The Shanghai Stock Exchange will review the initial public offering (IPO) of Shaanxi Tourism Culture Industry Co., Ltd. on November 7, 2025, aiming to raise approximately 155.51 million yuan for various tourism-related projects [1] Fundraising Allocation - The total amount to be raised is 155,512.79 thousand yuan, allocated to several projects including: - **Taishan Xiucheng Phase II Construction Project**: Total investment of 83,411.32 thousand yuan, utilizing 72,869.77 thousand yuan from the raised funds [2] - **Shaanxi Shaohua Mountain National Forest Park Cableway Capacity Expansion (South Line)**: Total investment of 30,000.00 thousand yuan, utilizing 13,905.88 thousand yuan from the raised funds [2] - **Taihua Cableway Comprehensive Service Center Project**: Total investment of 8,183.44 thousand yuan, utilizing 4,561.28 thousand yuan from the raised funds [2] - **Taihua Cableway Visitor Center Renovation Project**: Total investment of 4,900.00 thousand yuan, fully funded by the raised funds [2] - **Acquisition of Shaanxi Taihua Tourism Cableway Co., Ltd. Equity**: Total investment of 37,003.41 thousand yuan, fully funded by the raised funds [2] - **Acquisition of Shaanxi Yaoguang Pavilion Performing Arts Co., Ltd. Equity**: Total investment of 14,702.45 thousand yuan, fully funded by the raised funds [2] - **Acquisition of Shaanxi Shaohua Mountain Tourism Development Co., Ltd. Cableway Assets**: Total investment of 7,570.00 thousand yuan, fully funded by the raised funds [2] Shareholding Structure - As of the signing date of the prospectus, Shaanxi Tourism is controlled by Shaanxi Tourism Group, which holds 47.59% of the shares directly and an additional 6.69% indirectly through Shaanxi Tourism Co., Ltd. The actual controller of the company is the Shaanxi Provincial State-owned Assets Supervision and Administration Commission [2]