Shaanxi Tourism (603402.SH) Opens Subscription, Aims to Be a Leading Cultural Tourism Provider

On December 22, Shaanxi Tourism Culture Industry Holding Co., Ltd. (603402.SH) opened its subscription with an issue price of RMB 80.44 per share. The subscription limit is set at 19,000 shares, and the P/E ratio stands at 12.37x. The listing is on the Shanghai Stock Exchange, with China International Capital Corporation (CICC) acting as the sponsor.

Founded in April 2011, Shaanxi Tourism primarily operates in the tourism industry, focusing on tourism performances, cableways, and catering. The company aims to become a leading provider of high-quality cultural tourism services. Leveraging abundant tourism resources and years of operational experience, it has established itself as a key player in the "scenic spots + cultural tourism" sector.

The company’s core businesses include tourism performances, cableways, and catering. It capitalizes on premium resources such as Huaqing Palace and Mount Hua, integrating tourism assets, professional management, and innovative products to deliver exceptional travel experiences.

In tourism performances, Shaanxi Tourism has produced acclaimed works like *The Song of Everlasting Sorrow*, China’s first large-scale historical dance drama, *12·12 Xi’an Incident*, an immersive theatrical production, and *The Beacon Fire of Mount Tai*, a red-themed performance. These works serve as cultural carriers, preserving Chinese history and traditions.

For cableway operations, the company manages the West Peak Cableway and Huayin Slideway at Mount Hua, featuring world-class technology and operational expertise. It also operates the Aojigou Cableway in Shaanxi’s Shaohua Mountain National Forest Park.

In catering, its Tang Dynasty Palace Theater Restaurant combines Tang-style performances with imperial banquets, earning recognition as a cultural landmark and the "Oriental Moulin Rouge."

With over a decade in tourism performances and cableways, Shaanxi Tourism’s core products have gained market validation and strong brand reputation. Its mature operational model reflects years of industry experience.

Financially, the company reported revenues of RMB 232 million (2022), RMB 1.088 billion (2023), RMB 1.263 billion (2024), and RMB 517 million (Jan–Jun 2025). Net profits were RMB -102 million (2022), RMB 530 million (2023), RMB 622 million (2024), and RMB 247 million (Jan–Jun 2025), demonstrating steady growth.