Core Viewpoint - JiuHua Tourism, established in December 2000 and listed in March 2015, is the only tourism-related listed company in the JiuHua Mountain scenic area, possessing unique tourism resources and a complete tourism industry chain [1] Group 1: Business Performance - In Q3 2025, JiuHua Tourism reported revenue of 668 million yuan, ranking 4th in the industry out of 13 companies, with the industry leader Huangshan Tourism generating 1.535 billion yuan [2] - The company's net profit for the same period was 181 million yuan, also ranking 4th in the industry, with the top performer Huangshan Tourism at 275 million yuan [2] - The main business segments include travel agency services (193 million yuan, 39.88%), cable car services (185 million yuan, 38.41%), hotel services (133 million yuan, 27.62%), and passenger transport services (117 million yuan, 24.31%) [2] Group 2: Financial Ratios - As of Q3 2025, JiuHua Tourism's debt-to-asset ratio was 15.52%, down from 20.05% year-on-year, significantly lower than the industry average of 31% [3] - The gross profit margin was 51.88%, slightly up from 51.78% year-on-year, exceeding the industry average of 45.62% [3] Group 3: Executive Compensation - The chairman, Gao Zhengquan, received a salary of 1.2361 million yuan in 2024, an increase of 203,300 yuan from 2023 [4] - The general manager, Xu Zhen, earned 1.0285 million yuan in 2024, up by 284,600 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 8.55% to 14,700, with an average holding of 7,505.26 shares, down by 7.87% [5] - Notable changes among the top ten shareholders include an increase in holdings by the Fortune China Securities Tourism Theme ETF and a decrease in holdings by several other funds [5] Group 5: Future Projections - According to Citic Securities, JiuHua Tourism is expected to achieve net profits of 233 million, 274 million, and 323 million yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 25.2%, 17.5%, and 18.0% [6] - Guosheng Securities forecasts revenues of 890 million, 1.02 billion, and 1.22 billion yuan for the same years, with net profits of 230 million, 270 million, and 320 million yuan [6]

Core Insights - The tourism and scenic area sector experienced a decline of 1.26% on October 30, with Caesar Travel leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Major stocks in the tourism sector showed varied performance, with Dalian Shenya rising by 2.27% to a closing price of 50.41, while Caesar Travel fell by 5.43% to 6.09 [2] - The trading volume for Caesar Travel was significant at 1.24 million shares, with a transaction value of 770 million yuan [2] Capital Flow - The tourism and scenic area sector saw a net outflow of 341 million yuan from main funds, while retail investors contributed a net inflow of 330 million yuan [2][3] - Dalian Shenya had a net inflow of 6.57 million yuan from main funds, while Caesar Travel experienced a net outflow of 1.52 million yuan [3]

Core Insights - Jiuhua Tourism (603199.SH) reported a total operating revenue of 668 million yuan for Q3 2025, ranking 5th among disclosed peers, with a year-on-year increase of 98.99 million yuan, representing a 17.40% growth compared to the same period last year [1] - The company's net profit attributable to shareholders reached 181 million yuan, ranking 4th among peers, with an increase of 27.11 million yuan, reflecting a 17.65% year-on-year growth [1] - Operating cash flow amounted to 218 million yuan, ranking 5th among peers, with a year-on-year increase of 55.13 million yuan, which is a 33.94% rise compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio is 15.52%, ranking 4th among peers, down by 4.53 percentage points from the same period last year [3] - The gross profit margin stands at 51.88%, ranking 7th among peers, with a slight increase of 0.11 percentage points year-on-year [3] - Return on equity (ROE) is reported at 11.16%, ranking 4th among peers, with an increase of 0.80 percentage points compared to the previous year [3] Earnings Per Share and Turnover - The diluted earnings per share (EPS) is 1.63 yuan, ranking 1st among peers, with an increase of 0.25 yuan, marking a 17.66% year-on-year growth [3] - The total asset turnover ratio is 0.35 times, ranking 2nd among peers, with a year-on-year increase of 0.04 times, representing a 14.05% growth [3] - The inventory turnover ratio is 48.24 times, ranking 5th among peers, with a significant increase of 12.90 times year-on-year, reflecting a 36.51% growth [3] Shareholder Structure - The number of shareholders is reported at 14,700, with the top ten shareholders holding a total of 60.33 million shares, accounting for 54.51% of the total share capital [3] - The largest shareholder is Anhui Jiuhua Mountain Cultural Tourism Health Group Co., Ltd., holding 29.93% of the shares [3]

Core Viewpoint - The company, Anhui Jiuhua Mountain Tourism Development Co., Ltd., has released its third-quarter report for 2025, ensuring the accuracy and completeness of the information provided [1][2][15]. Financial Data - The third-quarter financial statements have not been audited [3]. - The report includes significant financial data and indicators, although specific figures are not detailed in the provided text [3]. Non-Recurring Gains and Losses - The company has indicated that it recognizes non-recurring gains and losses, but specific amounts and reasons for classification are not provided [4]. Shareholder Information - The report includes information on the total number of ordinary shareholders and the top ten shareholders, although specific details are not included in the text [5]. Board Meeting Resolutions - The board of directors unanimously approved the third-quarter report during a meeting held on October 29, 2025 [7][8]. - The board also approved a proposal for the company to apply for a non-financial guarantee from a bank, amounting to 8,201,104.31 RMB, to support a project [9]. - Additionally, the board approved the performance assessment results for the management team for the year 2024 [11][12]. Investor Communication - The company plans to hold an investor briefing on November 6, 2025, to discuss the third-quarter results and address investor questions [15][16]. - The briefing will be conducted online, allowing investors to participate and submit questions in advance [19].

Core Viewpoint - Anhui Jiuhua Mountain Tourism Development Co., Ltd. (Jiuhua Tourism, 603199.SH) reported its Q3 2025 financial results, showing a mixed performance with revenue growth but a slight decline in net profit [1] Financial Performance - The company's operating revenue for Q3 was approximately 185 million yuan, representing a year-on-year increase of 6.37% [1] - The net profit attributable to shareholders was about 39.02 million yuan, reflecting a year-on-year decrease of 0.7% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately 37.42 million yuan, which is a year-on-year increase of 1.07% [1]

Core Insights - JiuHua Tourism reported a revenue of 668,005,851.60 yuan for the first three quarters of 2025, representing a year-on-year growth of 17.40% [1] - The net profit attributable to shareholders of the listed company was 180,705,632.01 yuan, showing a year-on-year increase of 17.65% [1] Financial Performance - Revenue for the first three quarters of 2025: 668,005,851.60 yuan [1] - Year-on-year revenue growth: 17.40% [1] - Net profit for the first three quarters of 2025: 180,705,632.01 yuan [1] - Year-on-year net profit growth: 17.65% [1]

Core Insights - Jiuhua Tourism reported a revenue of 185 million yuan for Q3 2025, representing a year-on-year growth of 6.37% [1] - The net profit attributable to shareholders of the listed company was 39.02 million yuan, showing a slight decline of 0.7% compared to the previous year [1] Financial Performance - Revenue: 185 million yuan, up 6.37% year-on-year [1] - Net Profit: 39.02 million yuan, down 0.7% year-on-year [1]

格隆汇10月29日丨九华旅游(603199.SH)发布三季报，2025年前三季度实现营业总收入6.68亿元，同比增 长17.4%；归属母公司股东净利润1.81亿元，同比增长17.65%；基本每股收益为1.6327元。 ...

证券代码：603199 股票简称：九华旅游 公告编号：临2025-044 安徽九华山旅游发展股份有限公司 第九届董事会第七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 安徽九华山旅游发展股份有限公司(以下简称"公司")第九届董事会第七次 会议通知于 2025 年 10 月 24 日以专人派送或电子邮件的方式发出。会议于 2025 年 10 月 29 日以通讯表决方式召开，本次会议应出席董事 7 人，实际出席董事 7 人，会议的召开程序符合《中华人民共和国公司法》《公司章程》的有关规定。 会议由董事长高政权先生召集主持，经与会董事签署表决，一致通过并形成如下 决议： 一、审议通过了《2025 年第三季度报告》 本议案已经公司董事会审计委员会审议通过，同意提交公司董事会审议。 表决结果：7 票同意，0 票反对，0 票弃权。 本议案已经公司董事会审计委员会审议通过，同意提交公司董事会审议。 为顺利推进九华山狮子峰景区客运索道项目建设，积极履行公司与施工承包 方签订的建设工程施工合同，会议同意公司向中国农业银行股份有 ...

证券代码：603199 证券简称：九华旅游 公告编号：临 2025-045 安徽九华山旅游发展股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 投资者可于 2025 年 10 月 30 日（星期四）至 11 月 5 日（星期三）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 jhgf@jiuhuashan.cc 进行提问。公司将在说明会上对投资者普遍关注的问题进 行回答。 三、参加人员 董事长：高政权先生 独立董事：杨辉先生 安徽九华山旅游发展股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公 司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 6 日（星期 四）10:00-11:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行 交流。 一、说明会类型 本次投资者说明会以网络互动形式召开， ...