CAISSA TOURISM(SZ:000796)2023-02-24 10:16Group 1: Company Overview and Recovery - The company, Caesar Travel, has two core business segments: aviation and railway catering, both of which are recovering well post-pandemic [3] - During the Spring Festival, the highest single-day revenue for Sanya catering exceeded 450,000, while Haikou catering surpassed 350,000 [3] - The total number of people served by six aviation catering companies reached 320,000, with catering volumes in Sanya, Xinjiang, and Lanzhou recovering to over 70% of 2019 levels [3] Group 2: Tourism Business Recovery - The railway catering business served 11.62 million people, recovering to 91% of 2019 levels [3] - The "Caesar Preferred" mini-program saw a 1200% increase in daily visits on February 6, 2023, indicating strong consumer interest [3] - The company completed its first European tour group on February 7, 2023, showcasing its quick adaptation to market demands [3] Group 3: Market Trends and Changes - The tourism industry is expected to recover fully by 2024-2025, with significant growth anticipated compared to 2019 levels [4] - The pandemic has led to a consolidation in the industry, with smaller travel agencies exiting the market and larger agencies gaining market share [5] - Customized travel experiences are becoming increasingly popular, with a shift from sightseeing to leisure and vacation-oriented travel [5] Group 4: Cost and Pricing Dynamics - Rising overseas costs are impacting product pricing, but the company anticipates improved profit margins post-recovery due to lower competition [5] - The company holds a 28% market share in Antarctica, indicating strong positioning in niche markets [7] Group 5: Organizational Structure and Strategy - The company is adjusting its organizational structure to focus on tourism and food as primary business areas while optimizing operational efficiency [8] - There are plans to reintroduce retail outlets and enhance customer engagement through improved service delivery [8] Group 6: Financial Health and Risks - The company faces potential delisting risks due to three consecutive years of losses, with net assets expected to be negative by the end of 2022 [10] - The company is actively seeking strategic investors to improve its financial situation and market competitiveness [9]