LIJIANG TOURISM(SZ:002033)2022-12-08 03:18Group 1: Company Overview - The company operates three main business segments: cableway operations, cultural performances, and hotel services [2][3] - The cableway business includes three lines: Yulong Snow Mountain, Yunshanping, and Yangpi, serving 3.37 million visitors in 2014 [3] - The cultural performance segment, acquired in 2011, includes the large-scale show "Impression Lijiang," attracting 2.359 million visitors in 2014 and contributing a net profit of 51 million CNY [3] Group 2: Financial Performance - The company forecasts a growth of 10%-40% for the cableway business in the first half of 2015, with performance within the expected range [4] - The hotel segment includes three hotels in Lijiang, each managed by different international hotel groups, catering to diverse customer needs [4] Group 3: Ongoing Projects - The company is currently constructing the Xiangbala Moonlight City project and a Tibetan cultural experience area, expected to be completed between 2016 and 2017 [4] - A boutique hotel project in Benzilan is anticipated to be completed this year and operational next year [4] Group 4: E-commerce Strategy - Since launching its B2C model on Tmall in July 2013, the company has expanded from a single channel to multiple e-commerce models, improving product offerings and consumer engagement [5] Group 5: Future Growth and Challenges - The company is exploring employee stock ownership plans and equity incentives due to its dispersed shareholding structure [5] - The hotel properties have appreciated significantly, but the company currently has no plans to sell or manage hotels independently [5] - The company has rented out 70% of the 5596 commercial street, retaining 30% for future rental increases [6] Group 6: Transportation and Infrastructure - Lijiang Airport has opened over 30 routes, including international flights, enhancing the region's tourism potential [6][7] - Road infrastructure has improved significantly, with major highways and railways completed, further benefiting tourism [7] Group 7: Restaurant Operations - The restaurant center's operations are gradually improving, with expectations of breaking even in the first half of the year [7] Group 8: Profit Growth Points - Future profit growth will focus on optimizing existing businesses, identifying suitable short-term projects, and completing ongoing projects [7]