Shaanxi Tourism Clarifies 'Low IPO Shareholder Threshold' Report; 38,144 Small Shareholders Rank as Co-8th Largest Shareholder

Gate News message, April 20 — Shaanxi Tourism Culture and Industry Co., Ltd. (603402.SH) issued a clarification statement regarding online reports claiming that the company's top ten shareholders included individuals holding only 500 shares, with a market value below 70,000 yuan (approximately $9,650). The company explained that as of the end of 2025, it had not yet been listed on the Shanghai Stock Exchange and had no tradable shares; therefore, the annual report's top ten shareholders list was filed in the order of the shareholder registry, without filling in details of top ten tradable shareholders.

Shaanxi Tourism completed its initial public offering on December 26, 2025, issuing 19,333,334 shares at a fixed price. According to the shareholder registry provided by China Securities Depository and Clearing Corporation Limited Shanghai Branch on the same day, the company had 38,581 shareholder accounts. Of these, 38,144 accounts that subscribed for 500 shares each are now ranked as co-8th largest shareholders. The issued shares began trading on January 6, 2026.

Financial results for 2025 show Shaanxi Tourism generated operating revenue of approximately 1.03 billion yuan, down 18.45% year-over-year, with net profit attributable to parent company of 384 million yuan, down 24.91% year-over-year. Non-GAAP net profit was approximately 383 million yuan, down 23.79% year-over-year.

By business segment, tourism performance revenue reached 602 million yuan (down 18.46%), tourism cable car revenue 341 million yuan (down 20.3%), road transportation revenue 37.29 million yuan (down 18.08%), and tourism participation revenue 41.71 million yuan (down 1.06%). The company's tourism performance business includes the theatrical production "The Long Hatred Song" and large-scale red-themed live performances.

As of the close of trading on April 20, Shaanxi Tourism shares closed at 136.88 yuan per share, down 0.01% from the previous trading day.