Xiyu Tourism Development Co., Ltd. 2025 Annual Report Summary

Stock Code: 300859
Stock Abbreviation: Xiyu Tourism
Announcement No.: 2026-003

1. Important Reminders

This summary of the annual report is derived from the full annual report. To fully understand the company’s operating results, financial condition, and future development plans, investors should carefully read the full annual report published through the media designated by the China Securities Regulatory Commission.

All directors attended the board meeting that reviewed this report.

Daxin Certified Public Accountants (Special General Partnership) issued an unqualified opinion on the company’s financial statements for the year.

Non-standard audit opinion indication

□ Applicable √ Not applicable

The company was not profitable at the time of listing and has not yet achieved profitability.

□ Applicable √ Not applicable

Profit distribution plan or capital reserve conversion plan approved by the board of directors for the reporting period.

√ Applicable □ Not applicable

The profit distribution plan approved by the board of directors for this reporting period is: based on the total share capital of 155,000,000 shares as of December 31, 2025, a cash dividend of RMB 3.00 (tax included) per 10 shares will be distributed to all shareholders; no bonus shares will be issued; and no capital reserve will be converted into share capital.

The company’s preferred stock profit distribution plan approved by the board of directors.

□ Applicable □ Not applicable

2. Basic Company Information

3. Company Overview

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2. Main Business or Product Introduction During the Reporting Period

During the reporting period, the company’s main business remained largely unchanged, with specific details as follows:

(1) Main Business

1. Road Passenger Transportation:

Operates road passenger transportation within Tianshan Tianchi Scenic Area, mainly providing passenger transport and tourist vehicle rental services for visitors. Passenger transport is one of the company’s core businesses and a foundation for further expansion. The company holds the franchise rights for roads within the scenic area.

2. Cable Car Business:

The cable car operated by the company is located in the Mǎyá Mountain Scenic Area of Tianshan Tianchi. The Mǎyá Mountain cable car is 3 kilometers southwest of Tianchi Lake, at an altitude of 3,056 meters. It uses equipment from France’s Poma, with an 8-person loop detachable grip gondola. The line has a height difference of about 312 meters. Visitors can take the cable car to the summit of Mǎyá Mountain, overlooking Tianchi Lake and the snow-capped peaks of Boda Mountain to the south, enjoying views of alpine meadows, stone forests, and other scenery. It is suitable for year-round tourism. The cable car is a major revenue source. The company holds the franchise rights for the Mǎyá Mountain cable car within the scenic area.

3. Sightseeing Boats:

The company provides sightseeing boat services on Tianchi Lake, offering options such as traditional painted boats and electric boats. In line with the scenic area’s professional management and the strategic goal of “environmentally friendly tourism,” the company offers a comfortable and relaxing boat experience. In winter, when the lake freezes, winter activities such as ice skating, ice dragon boat racing, electric dog sledding, and electric snowmobiles are available. The company holds the lake surface franchise rights within the scenic area.

4. Hot Springs and Hotels:

The Wucaiwan Guhai Hot Spring Scenic Area is located in Jimsar County, Changji Hui Autonomous Prefecture, Xinjiang, 200 km from Urumqi and 170 km from Tianshan Tianchi Scenic Area. It is the only hot spring in China situated in a desert, formed by natural seepage of ancient sea sediment water. According to analysis by the Xinjiang Chemical Research Institute of the Chinese Academy of Sciences, the water age is approximately 770 million years, with a temperature of up to 75°C at the spring outlet, exhibiting high permeability and natural eruption features. Wucaiwan Hot Spring has a quasi-four-star ecological hotel and courtyard-style rooms, with 21 distinctive pools. The company has developed bathing and health services using Guhai spring water, extending to accommodation, dining, and conference services. In winter, visitors can experience the contrast of sub-zero water temperatures and water temperatures of several tens of degrees Celsius, enjoying therapeutic effects.

5. Travel Agency:

The company’s travel agency business includes domestic and international tourism. Domestic tours are mainly led by guides; international tours are organized through partnerships with foreign travel agencies, with local foreign agencies responsible for arrangements. Current services include: connecting with Tianchi Scenic Area and Wucaiwan Scenic Area for tourism services, designing various sightseeing packages; organizing inbound tourists’ travel within China, some of which are coordinated with other travel agencies; organizing outbound tourism for domestic tourists.

6. Tourism Performances:

The company actively develops tourism performance projects, focusing on two major programs: “Encounter Kashgar” and “Encounter Sayhu.” These aim to provide immersive cultural tourism experiences. “Encounter Kashgar” is a large indoor immersive performance project that combines cultural tourism with local intangible cultural heritage. “Encounter Sayhu” integrates digital technology, live filming, and real actors to create an immersive experience where audiences can enjoy the beauty of Sayram Lake across seasons in a high-definition environment.

(2) Main Operating Conditions

During the reporting period, the company’s operating model and key performance drivers remained largely unchanged.

As a leading enterprise in Xinjiang’s tourism industry, the company plays an important role in promoting regional tourism development, with resource monopoly and integration advantages. Under the “Tourism Revitalization of Xinjiang” strategy, the company’s regional position and market share are expected to remain stable and continue to grow.

In 2025, the company closely monitored industry trends, seized development opportunities, and maintained steady progress. It leveraged its listing platform to serve real economy businesses, achieving good economic and social benefits. Revenue for 2025 was RMB 325.9475 million, a 7.32% increase from the previous year; net profit attributable to shareholders was RMB 74.6815 million, down 13.68%; net profit after deducting non-recurring gains and losses was RMB 74.7931 million, down 12.72%. As of December 31, 2025, total assets were RMB 1,125.6067 million, shareholders’ equity was RMB 781.6731 million, and the asset-liability ratio was 28.91%.

3. Major Accounting Data and Financial Indicators

(1) Key Accounting Data and Financial Indicators for the Past Three Years

The company does not need to retrospectively adjust or restate previous years’ financial data.

□ Yes √ No

Unit: RMB

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(2) Key Quarterly Financial Data

Unit: RMB

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Are the above financial indicators or their totals significantly different from the related financial indicators disclosed in the company’s quarterly or semi-annual reports?

□ Yes √ No

4. Share Capital and Shareholder Information

(1) Top 10 Shareholders and Shareholding of Shareholders with Voting Rights Restored

Unit: Shares

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Participation of shareholders holding over 5% and the top 10 shareholders, as well as the top 10 unrestricted circulating shareholders, in securities lending and borrowing activities.

□ Applicable √ Not applicable

Changes in shareholding due to securities lending/return activities by the top 10 shareholders and top 10 unrestricted circulating shareholders.

□ Applicable √ Not applicable

Does the company have any arrangements for differences in voting rights?

□ Yes √ No

(2) Top 10 preferred shareholders and their shareholdings

The company had no preferred shareholders during the reporting period.

(3) Ownership and control relationship between the company and the actual controller in a block diagram.

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5. Bonds Outstanding as of the Approval Date of the Annual Report

□ Applicable √ Not applicable

3. Important Matters

Not applicable