Zhangjiajie said core tourism operations are continuing to improve and H2
earnings are expected to strengthen as peak season, consolidation of the Tianzi
Mountain cableway and new projects progress. The Tianzi Mountain cableway
acquisition is complete, delivering cableway business synergies and did not
increase interest-bearing debt. Environmental passenger-transport operations
remain stable, Dayong Ancient City’s performance is improving, and rising
inbound tourism plus greater travel agency–hotel coordination should support
consumption and further improvement in profit excluding non-recurring items for
the year.