JHT(603199)2024-04-30 07:37Group 1: Visitor Statistics and Revenue - In 2023, Jiuhua Mountain Scenic Area received 9.2518 million visitors, a year-on-year increase of 16.63% [3] - The tourism revenue for 2023 reached 11.2 billion yuan, growing by 13.61% compared to the previous year [3] - The company achieved an operating income of 724 million yuan in 2023, a significant increase of 117.94% year-on-year, and net profit attributable to shareholders was 175 million yuan, marking a turnaround from losses [3] Group 2: Q1 2024 Performance - In Q1 2024, the company reported an operating income of 180 million yuan, a decrease of 6.13% year-on-year [3] - The net profit attributable to shareholders in Q1 2024 was 52.08 million yuan, down by 15.80% compared to the same period last year, primarily due to the delayed Spring Festival and adverse weather conditions [3] Group 3: Infrastructure Developments - The opening of the Chi-Huang High-Speed Railway is expected by the end of April 2024, which will enhance regional connectivity and tourism [4] - The Jiuhua Mountain Transportation Transfer Center, capable of parking 5,207 vehicles, has improved traffic flow and visitor experience during peak seasons [5] Group 4: New Projects and Investments - The new cable car project at Lion Peak is estimated to cost 326.07 million yuan, with construction expected to start in December 2024 and completion by November 2026 [6] - The projected passenger volume for the cable car in the first year is 224,000, with an anticipated annual growth rate of 15% [6] Group 5: Future Plans and Market Strategies - The company plans to enhance its marketing efforts for the Wen Zong Ancient Village project, which combines various leisure and hospitality offerings [7] - The Anhui provincial government is promoting the "Great Huangshan" strategy, which will benefit Jiuhua Tourism through increased investment in cultural and tourism projects [8] Group 6: Financial Policies and Shareholder Returns - The company has maintained a cash dividend policy, with a payout ratio exceeding 30% in recent years, and plans to distribute at least 20% of distributable profits as dividends annually from 2023 to 2025 [9] - Future capital expenditures will include improvements to the Jiuhua Mountain Transportation Transfer Center and the Lion Peak cable car project [10]