On the afternoon of November 24, Chengdu New Tianfu Culture Tourism Development Co., Ltd. (000558.SZ) announced plans to use its own funds to acquire a 34.30% stake in Lixian Bipenggou Tourism Development Co., Ltd. (referred to as "Bipenggou Company"). According to the announcement, the company intends to collaborate with Aba Da Jiuzhai Tourism Group Co., Ltd. (referred to as "Da Jiulv Group") in the operation of the Bipenggou Scenic Area project in Lixian County.
Under the agreement, Da Jiulv Group will acquire a 51% stake in Bipenggou Company from Chongqing Guanzhong Tourism Development Co., Ltd. (referred to as "Chongqing Guanzhong") in cash, while Chengdu New Tianfu will purchase a 34.3% stake from Chengdu Western Tourism Investment Holdings (Group) Co., Ltd. (referred to as "Western Tourism") in cash. The acquisition excludes revenue related to scenic area ticket sales.
Following the announcement, Chengdu New Tianfu's stock surged during trading, hitting the daily limit-up at one point with a peak gain of 9.98%. By the close, the stock was trading at 5.89 yuan per share, up 6.90%, with a turnover rate of 18.08% and a total market capitalization of 7.594 billion yuan.
Established in August 1998 with a registered capital of 213.8026 million yuan, Bipenggou Company primarily operates businesses within the Bipenggou Scenic Area, providing tourism-related services such as transportation (including sightseeing buses and electric vehicles), hotel catering, and winter snow entertainment activities. Located in Suoluo Village, Putou Township, Lixian County, Sichuan Province, the Bipenggou Scenic Area is a large-scale ecotourism destination featuring pristine landscapes, mountaineering, polar exploration, skiing, and leisure vacations.
As of now, Chongqing Guanzhong holds a 51% stake in Bipenggou Company with a capital contribution of approximately 109 million yuan, while Western Tourism holds a 34.3% stake with a contribution of about 73.3343 million yuan. The Lixian Scenic Area Management Office retains a 14.7% stake with a contribution of around 31.429 million yuan.
Chengdu New Tianfu stated that the investment in Bipenggou Company aims to strengthen its strategic positioning in winter tourism, expand its leisure destination portfolio, optimize its asset structure, and enhance operational efficiency. However, the company cautioned that the acquisition is still in the planning phase, and its financial and operational impact for the current year will depend on the execution of formal agreements and transaction completion.
Public records show that Chengdu New Tianfu primarily engages in winter tourism, film-tourism integration, conference and exhibition services, sports, and limited real estate leasing and sales. Its subsidiary, Tianfu Tourism Co., Ltd., operates cableways, skiing (grass skiing), hotels, and entertainment businesses at the Xiling Snow Mountain Scenic Area.
Da Jiulv Group, established in 2006, is a state-owned enterprise founded by the Aba Prefecture government to consolidate premium tourism resources. Its core businesses include scenic area transportation, cableway operations, hotels, and tourism development.
In a related move, Chengdu New Tianfu also announced a framework agreement with Deyang's Culture, Radio, Television, and Tourism Bureau and Da Jiulv Group to promote film-tourism integration. The collaboration aims to leverage both parties' strengths, explore market opportunities, and deepen cultural industry cooperation to create a high-quality integrated tourism, cultural, and film hub in western China.
Key initiatives include project partnerships to enhance film production support services, establish a full industrial chain for filmmaking, and develop a comprehensive system covering production, distribution, and digital copyright trading.
Comments