New stock news | Impression Dahongpao is ranked eighth in the 2024 Chinese cultural and tourism performance market after hearing in the Hong Kong Stock Exchange

According to the Hong Kong Stock Exchange disclosed on December 10, Impression Dahongpao Co., Ltd. (referred to as Impression Dahongpao) conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CISI FIN and Kaisun as its joint sponsors. According to the prospectus, Impression Dahongpao is a state-owned cultural and tourism service company headquartered in Wuyishan, Fujian Province. According to Frost & Sullivan data, based on sales revenue generated from cultural and tourism performance programs, Impression Dahongpao ranked eighth in the Chinese cultural and tourism performance market in 2024. The company's shares have been listed on the New Third Board since January 20, 2017 (stock code: 870608). The prospectus mentioned that Impression Dahongpao's business includes three main business divisions: (i) performance and entertainment services; (ii) Impression Cultural and Tourism Town business; and (iii) tea hotel business. Impression Dahongpao's performance and entertainment services division include three main services: (i) the iconic performance "Impression Dahongpao" landscape performance; (ii) the new performance "Moon Reflecting Wuyi" launched in May 2025; and (iii) providing customized performances for corporate clients, who usually commission the company to perform at their special corporate events such as team-building activities and annual meetings. Impression Dahongpao's main focus is the iconic performance - "Impression Dahongpao" landscape performance. According to Frost & Sullivan data, this performance is the first large-scale outdoor landscape performance in Fujian Province, and has historically been the company's main source of revenue. According to Frost & Sullivan data, in 2024, Impression Dahongpao's iconic performance ranked third in ticket sales in all tourism landscape performances in China, and tenth in all cultural tourism performances. "Impression Dahongpao" landscape performance was recognized as an outstanding performance project in the 2023 national performance market social and economic benefits, and was included in the national tourism performing arts list by the Ministry of Culture and Tourism of the People's Republic of China in 2023. Impression Dahongpao's "Impression Dahongpao" landscape performance is one of the acclaimed "Impression" series of large outdoor performances that combine visual effects, music, and choreography to showcase local culture and natural scenery. These performances are co-created by three famous film producers and directors - Mr. Zhang Yimou, Ms. Wang Chaoge, and Mr. Fan Yue, known as the Impression Triangle. The company has also designed a special 360-degree rotating audience seat, providing viewers with a dynamic perspective to fully immerse themselves in the unfolding scenery. As of the last practicable date, Impression Dahongpao's audience seat has 2,099 seats, out of which 1,521 are regular seats and 578 are VIP seats. As of the last practicable date, Impression Dahongpao has performed over 6,700 shows, attracting more than 9.4 million viewers since its premiere in 2010. To expand its performance services portfolio to cater to a wider range of tourist preferences, Impression Dahongpao launched a new performance, "Moon Reflecting Wuyi." This new performance made its debut on April 17, 2025, and was publicly premiered on May 1, 2025. Drawing on the successful experience of the "Impression Dahongpao" landscape performance, the new performance embodies the core concepts of "observation of objects to attain knowledge" and "cultivate virtuous knowledge," reflecting the Zhu Xi culture of Wuyishan as an indoor live performance different from the existing "Impression Dahongpao" landscape performance. Apart from the two performance shows, Impression Dahongpao strategically developed the Impression Cultural and Tourism Town. The Impression Cultural and Tourism Town of Impression Dahongpao mainly includes the Wuyi Tea Expo 4A scenic area, the Impression Jianzhou gourmet theme street, the Wuyi Tea Study Society, and other entertainment venues such as the Impression Market, providing more leisure options for Wuyishan tourists. However, as of May 31, 2025, due to the termination of cooperation agreement with its main operator, the Impression Market has temporarily ceased operation. As of the last practicable date, Impression Dahongpao is looking for a new main operator. Financially, for the six months ending on June 30 of 2022, 2023, 2024, and 2025, Impression Dahongpao recorded revenues of approximately 63.039 million, 144 million, 137 million, and 55.884 million RMB respectively; and during the same period, profits were approximately -2.599 million, 47.504 million, 42.809 million, and 6.775 million RMB respectively.