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西域旅游(300859)新股询价报告

Western Travel (300859) IPO Quotation Report

華鑫證券 ·  Jul 21, 2020 00:00  · Researches

  The company's main business is the development and management of tourism resources. Through the development of scenic attractions, it provides tourism services to tourists, mainly including passenger transportation, alpine ropeway sightseeing, cruise sightseeing, hot spring hotels, travel agencies and other services. Currently, the scenic spots operated by the company include Tianchi Scenic Area and Wucaiwan Hot Spring Scenic Area. The company provides comprehensive tourism services such as passenger transportation, cruise sightseeing, ropeway sightseeing, and performing arts in the Tianchi Scenic Area; it provides comprehensive services such as hot springs, entertainment, hotels, and meetings in the Wucai Bay Scenic Area. Tianchi International Travel Service, a subsidiary of the company, organizes visits to Tianchi Scenic Area and Wucaiwan Hot Springs, and also undertakes other travel services for tourists.

(1) Tianchi of Tianshan Mountain is located in the middle of the mountainside below Bogda Peak in Fukang, Xinjiang, 97 kilometers east of Urumqi, with convenient transportation. In 1980, the Xinjiang Uygur Autonomous Region established Tianchi Nature Reserve; in 1982, Tianchi Tianchi was approved by the State Council as the first batch of key scenic spots in the country; in 1990, UNESCO established the Bogda Peak “International Man and Nature Biosphere Reserve” protection network with Tianchi in Tianshan Mountain as the center; in 2007, Tianchi Tianchi was rated as a national 5A tourist attraction by the National Tourism Administration; in 2013, the Ministry of Land and Resources officially included Tianshan Tianchi in the list of national geoparks; in 2013, Tianchi in Xinjiang was included in the UNESCO list of national geoparks World Heritage List. Mt. Tien Shan Bogda is 5,445 meters above sea level. Snow covers all year round, and glaciers continue. According to differences in elevation, it can be divided into glacial and snow belts, alpine belts, subalpine belts, mountainous coniferous forest belts, and low mountain belts.

(2) The company signed the “Tianchi Scenic Area Franchise Agreement” with the Tianchi Management Committee. The company has sole management rights for the Tianchi Main Scenic Area Lake, Tianchi Scenic Area Road, Ma Yashan Ropeway and Restaurant Plaza, which is valid for 30 years. The company was founded early, has been operating in the tourism industry for many years, has rich experience in the industry, and is familiar with the operation of tourist passenger transportation, ropeways, cruise ships, etc. At the same time, through training and external introduction, the company has created a high-quality workforce that can provide customers with a high level of travel services, established a good reputation among customers, and shaped its brand image.

(3) The company's business is quite diversified. The company has carried out a number of tourism projects at Tianchi Scenic Area in Tianshan Mountain to meet the different needs of tourists. At the same time, it has developed the Wucaiwan Hot Spring Tourism Project, which has enriched the company's business content, increased the company's revenue during the off-season travel season, and enhanced the company's resilience to risks.

In addition to performing in the Tianchi Scenic Area, the performing arts company also undertakes performances within and outside the country, expanding the popularity of the company's brand. Tianshan Tianchi Scenic Area is about 97 kilometers from Urumqi, the capital city of Xinjiang Province, about 60 kilometers from Urumqi Diwopu Airport, and close to the “Tu-Wu Da” Expressway and National Highway 216. The transportation is very convenient. Among the famous scenic spots in Xinjiang, it is the closest to Urumqi

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