April Cultural Tourism Industry Operation Development Report·Perspective Monthly Index

Opinion Index Before the Qingming Festival and May Day holidays, the Ministry of Culture and Tourism announced that it would lift restrictions on the number of tourists in scenic spots, and the enthusiasm for travel continues to rise.

In terms of investment, investment in the cultural tourism industry was relatively active in April, with 195 new investments, more than 19 times that of the same period in 2020. In addition, there are 5 cultural tourism project signings, located in Hubei, Jiangsu, Guangdong, Shanghai, and Henan. The total number of signed projects is 167, and the total contract value is 142.499 billion yuan.

Judging from the first-quarter financial reports released by various companies, the recovery trend of cultural and tourism companies is gratifying. Cultural tourism companies such as Overseas Chinese Town and Songcheng Performing Arts continue to achieve growth in revenue and net profit, and some companies that suffered losses in 2020 are also gradually reducing their losses.

Investment continues to be active, and the cultural tourism market has recovered significantly

According to incomplete statistics from the Viewpoint Index, there were 195 new investments in cultural and tourism projects in April, more than 19 times the same period in 2020. Investment The total amount was 301.109 billion yuan, an increase of 138.7% over the same period last year, and still exceeded 70 billion yuan compared with the first small growth peak in March (some projects were only included in the number of investment cases due to unknown specific investment amounts). Among them, the investment amount of 6 projects exceeds 10 billion yuan.

It is worth noting that there were 5 centralized cultural and tourism signing events in April, held in Hubei, Jiangsu, Guangdong, Shanghai, and Henan, with the number of signed projects being 11, 25, 21, 15, and 95 respectively. , with total contract amounts of 4.145 billion, 14.06 billion, 43.884 billion, 27.4 billion, and 53.01 billion respectively. Centralized signing activities will help save information screening costs and promote local cultural tourism project cooperation in a direct and efficient way.

Data source: Compilation of opinion index

In terms of corporate dynamics, OCT had two contracted projects in April ***, namely Jinghong Dadu, Yunnan Province Gang Tea Garden Tourist Town Project and OCT Group-Mabian Valley Xi Meicun Cultural Tourism Project.

On April 9, the Jinghong Municipal People's Government signed a framework agreement with OCT Yunnan Group and Yunnan Yifeng Tourism Development Co., Ltd. on the "Dadugang Tea Garden Tourism Town" project. This is the Guxi Meicun Culture The tourism project focuses on rural tourism, combines the characteristics of local natural scenery and the integration of Yi and Miao people, and helps the development of Mabian's cultural tourism industry. It is one of the "beautiful countryside" products that OCT has vigorously created.

It can be seen that the two projects invested by OCT in April continue to practice the practice of "integration of culture and tourism + beautiful countryside", give full play to the development potential of the sinking market, achieve tourist attraction and conversion while also creating income.

According to the financial report of OCT in the first quarter of 2021, five pieces of land were acquired through bidding, auction and listing during the period, four of which were used for the construction of cultural tourism and entertainment projects. It is expected that OCT will be in the cultural tourism sector in 2021 There will still be big moves.

Data source: OCT’s first quarter financial report for 2021

Weiguang Huitong also made major moves during the month. Three projects started construction in April. A new project is signed.

On April 23, Lijiang Kaihua County Government and Weiguang Huitong Cultural Tourism Investment Co., Ltd. signed an investment cooperation framework agreement for the "Kaihua Ancient City" and officially settled in the historical city of Kaihua. The first phase of the project was invested The amount is approximately 1.5 billion yuan.

The second phase of the Canli Street District of Weiguang Huitong's Xushuguan Ancient Town project in Jiangsu Province also officially launched the groundbreaking ceremony on April 25. The starting area this time is the core area on the east bank of the ancient town. It is reported that this project has been included in the list of major projects in Jiangsu Province in 2021. The total planning scope of the project is about 3,400 acres, with a total investment of 16.4 billion yuan.

After the project is completed, it is expected to attract 5 million tourists every year and achieve an annual comprehensive income of approximately 6 billion yuan. The project is expected to be fully opened before 2025.

Weiguang Huitong’s projects that started construction in April include Jiangxi Jinxi Xiangshan Heart City Cultural Tourism Project and Guangxi Wuxuan Zhongliu Ancient City Cultural Tourism Comprehensive Development Project.

It is reported that Weiguang Huitong and Jincheng Holding Group signed a strategic cooperation agreement in the field of cultural tourism town development on April 16. During the critical period of post-epidemic reconstruction, Weiguang Huitong chose to seek strong partners, join forces, and continue to work hard on small town projects to achieve mutual benefit and win-win results.

In terms of performing arts, the much-anticipated Shanghai Songcheng Performing Arts Kingdom was successfully opened at the end of April.

The Shanghai Songcheng project is located in the World Expo Park and has rich tourist resources. In terms of performance forms, a large number of outdoor interactive performing arts projects have been added to form an open art block and a comprehensive art performance platform, which is expected to become a benchmark for the transformation and upgrading of other traditional performing arts projects in Songcheng.

The operating conditions of cultural and tourism companies are improving, and losses have narrowed

In terms of cultural and tourism performance, many companies have released reports for the first quarter of 2021. Even though the epidemic has continued to recur at the beginning of the year, cultural and tourism The overall recovery situation of enterprises is good. Leading cultural and tourism companies such as Overseas Chinese Town and Songcheng Performing Arts continue to achieve growth in revenue and net profit, and some companies that suffered losses in 2020 are also gradually reducing their losses.

OCT achieved revenue of 8.547 billion yuan in the first quarter, a year-on-year increase of 25.35% and a month-on-month increase of 2.11%; net profit attributable to shareholders of the parent company was 902 million yuan, a year-on-year increase of 7.46%, and the gross profit margin was 47.26%.

However, OCT’s high operating costs of 4.507 billion yuan in the first quarter resulted in a mismatch between revenue and net profit growth rates. In the first quarter report, OCT did not provide a detailed explanation of operating costs, but public information shows that projects such as Xi'an Happy Valley and Yueqing OCT are still under construction during the Spring Festival. It is expected that these projects will bring more profits to OCT after completion.

Data source: corporate announcements, opinion index compilation

Due to the impact of the epidemic on the business of scenic spots, and the company’s reduction in provision for long-term equity investments held In preparation for the value, Songcheng Entertainment's net profit attributable to its parent company in 2020 was -1.752 billion yuan. In the first quarter of 2021, it achieved operating income of 306 million yuan, a year-on-year increase of 128.1%; net profit attributable to its parent company was 132 million yuan, returning to 3.57 billion yuan in the same period before the epidemic. %; the gross profit margin was 63.1%, an increase of 2.2 percentage points from the end of 2020, and the overall profitability is gradually recovering.

China Youth Travel Service, Xinhualian Cultural Tourism and Qujiang Cultural Tourism also released their first quarter reports. The net profits attributable to the parent company of the three companies were all negative, which were -0.65, -3.795 and - respectively. 20 million yuan. Although it failed to achieve profitability this quarter, its losses have been significantly reduced compared with those during the epidemic.

The number of travelers is close to the same period before the epidemic, and tourism revenue in many provinces exceeds 5 billion

According to estimates from the data center of the Ministry of Culture and Tourism, during the Qingming Festival in 2021, there will be 102 million domestic tourism trips across the country. It increased by 144.6% year-on-year, and recovered to 94.5% of the same period before the epidemic on a comparable basis; domestic tourism revenue was 27.168 billion yuan, a year-on-year increase of 228.9%, and recovered to 56.7% of the same period before the epidemic on a comparable basis.

It can be seen from the Qingming travel data that domestic tourism has basically returned to pre-epidemic levels, and is expected to achieve growth exceeding pre-epidemic levels in the second half of the year.

The Opinion Index compiled cities with public tourism data during the Qingming Festival and found that Guizhou performed outstandingly, recording a total tourism revenue of 8.612 billion yuan. Guangdong Province received the largest number of tourists, receiving 17.218 million. person times.

Data source: Public data from the culture and tourism departments/bureaus of various provinces, autonomous regions and municipalities, compiled by opinion index

In April, government departments issued a report on the development of the cultural tourism industry Many policies have been introduced, mainly focusing on rural areas, rural tourism, etc. In addition, Hainan Province’s duty-free business continues to be popular. With policy guidance and support, Hainan Province is expected to develop more rural tourism businesses. During the Qingming Festival holiday, Hainan Province received a total of 1.2379 million tourists, a year-on-year increase of 160.6%; it achieved tourism revenue of 1.661 billion yuan, a year-on-year increase of 464.7%.

Generally speaking, in the past April, whether it was the performance of enterprises, the overall situation of the cultural tourism industry or the strength of policy support, the cultural tourism industry showed a vitality.

However, the epidemic has not yet been completely controlled. Cultural tourism companies that rely on tourist traffic as their profit base still need to be prudent and be ready to face challenges at any time.