黄山旅游发布重大关联交易进展公告，签署东海索道托管服务合同

核心要点

• 托管服务合同正式签署：黄山旅游发展股份有限公司（简称“黄山旅游”，A股代码：600054，B股代码：900942）与控股股东全资子公司黄山旅游集团有限公司旗下的黄山东海景区开发有限公司（简称“东海开发公司”）已正式签署《东海索道托管服务合同》。
• 东海索道分公司成立：东海开发公司将设立东海索道分公司（暂定名，最终以工商注册为准），作为东海索道项目的运营主体。
• 管理模式及期限：黄山旅游将受托管理东海索道分公司，全面负责其营业前筹备及日常经营管理。托管期限分为筹备期和运营期，筹备期自相关资料交接日起至索道正式营业止，运营期暂定1年，自正式营业日起算。若1年内完成资产转让，托管事项即行终止。
• 管理费结构：管理费包含三部分：
  – 筹备管理费：200万元（筹备期一次性费用）
  – 基本管理费：按运营期东海索道分公司营收的8%计提
  – 劳务报酬费：根据筹备及运营期间派驻人员数及公司薪酬标准核算
• 信息披露承诺：黄山旅游承诺将根据交易进展，及时履行信息披露义务，提醒投资者注意相关风险。

对股东及投资者的重要影响与潜在股价影响因素

• 潜在业绩增长动力：此项托管合同有望为黄山旅游带来新的收入来源，尤其是在索道正式运营后，基本管理费按营收8%提取，随着游客流量恢复和增长，有望增加公司业绩表现。
• 关联交易与规范运作：此次交易为典型的关联交易，涉及公司与控股股东全资子公司之间的业务合作。投资者应关注公司是否能做到规范运作，避免利益输送和合规风险。
• 资产转让可能影响：如在运营期内完成索道资产的转让，托管事项将提前终止，相关条款需投资者重点关注，可能影响公司未来收入和资产结构。
• 信息披露的及时性：公司承诺将按规定及时披露后续进展，投资者需关注后续公告，特别是涉及资产转让、业绩变动等关键信息。
• 风险提示：公司提示投资者注意投资风险，关联交易和新业务推进过程中可能存在不确定性。

结论

此次东海索道托管服务合同的签署，是黄山旅游向景区运营管理服务拓展的重要举措，具备一定的业绩增厚预期和战略意义，对公司未来发展具有积极影响。与此同时，因属关联交易，需持续关注后续履约、资产转让等事项的进展，相关信息或将影响公司股价表现。

免责声明：本文仅为信息披露和投资参考，不构成任何投资建议。投资者应结合自身实际情况审慎决策，注意市场风险。

English Version:

Huangshan Tourism Announces Progress on Major Related Party Transaction, Signs Donghai Cableway Entrustment Service Agreement

Key Highlights

• Entrustment Service Agreement Officially Signed: Huangshan Tourism Development Co., Ltd. (“Huangshan Tourism”, A-share code: 600054, B-share code: 900942) has officially signed the “Donghai Cableway Entrustment Service Agreement” with Donghai Scenic Area Development Co., Ltd. (“Donghai Development”), a wholly-owned subsidiary of its controlling shareholder.
• Establishment of Donghai Cableway Branch: Donghai Development will set up Donghai Cableway Branch (tentative name, subject to business registration) as the operating entity for the cableway project.
• Management Model and Duration: Huangshan Tourism will be entrusted to manage the Donghai Cableway Branch, being fully responsible for its pre-operation preparations and daily management. The entrustment period consists of a preparation period (from the handover of relevant documents until official operation) and an operation period (tentatively 1 year from official operation; if asset transfer is completed within this period, the entrustment ends).
• Management Fee Structure: Fees include:
  – Preparation Fee: RMB 2 million (one-time during preparation period)
  – Basic Management Fee: 8% of operational revenue during operation period
  – Service Fee: Based on the number of staff dispatched and company salary standards during both periods
• Commitment to Information Disclosure: Huangshan Tourism commits to timely disclosure of further developments, reminding investors of related risks.

Key Points for Shareholders and Potential Price-Sensitive Factors

• Potential Earnings Growth: The agreement may bring new income sources, especially with the 8% revenue management fee once the cableway is operational, creating upside for future performance as tourism rebounds.
• Related Party Transaction Compliance: As a typical related party transaction, investors should monitor for compliance, risk of interest transfer, and regulatory adherence.
• Impact of Asset Transfer: If asset transfer is completed within the operation period, the entrustment will terminate early, which may affect future revenue and asset structure—an important detail for investors to monitor.
• Timely Information Disclosure: Investors should stay alert for subsequent announcements, particularly pertaining to asset transfer and performance impacts.
• Risk Reminder: The company highlights potential uncertainties associated with related transactions and new business initiatives.

Conclusion

The signing of the Donghai Cableway Entrustment Service Agreement marks a significant step for Huangshan Tourism in expanding its scenic area operations, with potential for profit growth and strategic value. However, as a related party transaction, investors should closely follow subsequent developments such as contract performance and asset transfer, as these may affect share value.

Disclaimer: This article is for information disclosure and reference only and does not constitute investment advice. Investors should make prudent decisions based on their circumstances and be aware of market risks.

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