长白山20151223

Summary of Changbai Mountain Conference Call Industry Overview - The conference call discusses the tourism industry, specifically focusing on Changbai Mountain, a popular ski and tourist destination in China. Key Points and Arguments Visitor Traffic and Influencing Factors - The opening of the Shenbai High-Speed Railway on September 28, 2025, led to a significant increase in visitor traffic, with October's numbers showing over a 10% increase compared to the previous year [3][4] - Despite adverse weather conditions in November and December, the overall visitor flow remained stable, with only a slight decrease in November of about 3,000 visitors, approximately 1% [3] - The highest daily carrying capacity increased by 30% year-on-year due to operational adjustments, despite some days being closed due to weather [2][3] Impact of Shenbai High-Speed Railway - From October 1 to 18, 2025, the number of daily arrivals at the high-speed railway station increased by nearly 98% compared to the same period last year, indicating a positive impact on visitor numbers from regions like Liaoning, Hebei, and Shandong [4] - The core visitor sources remain from East and South China, with Liaoning's share rising to 5.94% due to the railway's opening [5] Hotel and Related Business Performance - Hotel occupancy rates have significantly improved, while room rates have remained stable, indicating effective conversion of new visitor traffic into accommodation revenue [6] - Related sectors such as dining and accommodation have also seen growth, with new attractions like the Yunding Sky Snow Sculpture drawing large crowds [6] Challenges and Future Plans - The scenic area faces challenges with visitor demand exceeding carrying capacity, necessitating increased investment in facilities such as warm houses and shelters to ensure visitor safety [2][7] - The second phase of the Hot Spring Village project is under construction, expected to add approximately 25% more rooms compared to the first phase, targeting a broader consumer base [10] New Projects and Revenue Support - New projects for the winter season include snowmobile rentals and a small ski area, which, while generating limited management fee income, contribute to overall revenue support [8][9] - The Deer Horn Village project, which includes a small ski area and interactive experiences, is anticipated to enhance visitor flow and revenue [9] Infrastructure and Capacity Enhancement - The company plans to continue expanding operational capacity, with a focus on improving infrastructure and transportation to accommodate growing visitor numbers [13][14] - Future developments include extending operational hours and enhancing transportation services, such as self-driving and rental services along key routes [15] Financial Projections and Budgeting - For 2026, the company plans to allocate approximately 30 million yuan for vehicle procurement to meet increasing visitor demands, with a conservative expectation of a 10% increase in visitor numbers [16] Long-term Development Strategy - The company aims to balance seasonal tourism by promoting both summer and winter activities, leveraging the Shenbai High-Speed Railway to enhance visitor stay duration and spending [15][17] Additional Important Information - The company is considering the potential integration of the ski area into its public listing structure, contingent on favorable operational conditions [11][12] - The focus on enhancing visitor experience through improved facilities and services is critical for sustaining growth in the competitive tourism market [7][13]