Since entering August，The pace of semi-annual report disclosure of 188bet mobile login the New OTC Market has also accelerated significantly，According to the Share Transfer System Announcement [2017] No. 182 issued by the Share Transfer System on June 27, 2017, "Notice on the Disclosure of the 2017 Semi-annual Report of the Quoted Company": The listed company should disclose the 2017 semi-annual report in August 2017. Complete the disclosure of the semi-annual report before March 31。

This year’s New OTC 188bet mobile login Enterprise First Half Annual Report，Mainly concentrated in August，Especially 8.7-8.11、8.14-8.18、8.21-8.26 three weeks。Accordingly，Zhihui will disclose semi-annual reports according to the rhythm of nearly 200 listed 188bet mobile login (including travel-related) companies on the New Third Board，Carry out corresponding real-time tracking reports and analysis。Detailed semi-annual situation of tourism companies mentioned in the serial series，Can be viewed on Zhihui official website，This serial series mainly focuses on the growth and innovation of enterprises，Combined with operating income during the reporting period、Net profit、Analysis of 188bet mobile login, investment and financing, etc.。In addition，Serial series within the above 3 cycles，No repeated processing，At the same time, no industry segmentation 188bet mobile login done。

This issue is 8.7-8.Within 11，About 16 188bet mobile login companies (including those released earlier) released their second half annual reports for 2017，The main typical representative is Harvest Day (836673 who operates Chinese catering services.188bet mobile login）、Qingyuan Co., Ltd. (836986 operates the Song Dynasty Cultural Reality Theme Park.188bet mobile login）、Juntu.com, a western online travel platform (839202.188bet mobile login）、Vision Shares engaged in outbound medical tourism (835495.188bet mobile login）、Hunting shares (870746 operated by hunting (tourism) theme cultural park.188bet mobile login）、Sea Bar Park Biluo Tower (833194.188bet mobile login) and engaged in the Yangtze River、Damei Cruise (831408 for tourism on the Pearl River waters.188bet mobile login) and blue dolphin (871599.188bet mobile login），The above-mentioned companies have shown good growth and innovation among the reporting companies。

1. High revenue PK high 188bet mobile login rate

Analysis at the revenue level from the first half annual reports of 2017 released by the above 16 188bet mobile login，According to the relevant regulations of entering the innovation level standard (2): continuous growth in the past 2 years and average revenue of not less than 40 million yuan。More than 8 companies have revenue exceeding 40 million yuan in the first half of 2017，One of the harvest days for Chinese catering services (836673.188bet mobile login) reaches 6.4.4 billion yuan；Juntu.com, a western online travel platform (839202.188bet mobile login) arrives at 2.4.8 billion yuan；Qingyuan Shares (836986 which specializes in Qingming Shangheyuan (5A Scenic Area) of Song Dynasty culture.188bet mobile login) reaches 1.4.5 billion yuan；Relatively speaking, it was listed early to engage in outbound high-end customized tours、Companion travel for cruise business (830812.188bet mobile login) reaches 1.1.5 billion yuan；Carstone (832971 is engaged in the (auto) exhibition business and is among the first to enter the innovation level.188bet mobile login) Implementation 1.1.2 billion yuan；In addition，Vision Shares engaged in outbound medical tourism (835495.188bet mobile login) also implements 1.0.9 billion yuan。

Combined with the revenue increase and decrease ratio，Similarly analyzed in accordance with the relevant provisions 188bet mobile login innovation layer standard (2): the compound growth rate shall not be less than 50%。The above 16 companies，Companies with revenue growth exceeding 50% in the first half of the year，Only the western online travel platform Juntu.com (839202.188bet mobile login) exceeds and reaches 102.57%。In addition，There are 8 companies whose revenue growth exceeded 25% in the first half of the year。Including becoming the first group to enter the innovation level due to meeting the standard (2)，Aichi Network (834817, which is mainly engaged in the construction of Internet smart scenic spots (B2B distribution).188bet mobile login) included，During the reporting period，Aichi Online Tourism Distribution Platform B2B online transactions increased significantly，Sales in the first half of 2017 were 292 compared with the same period last year.91%。

2. High net 188bet mobile login PK high growth rate

Analysis from the net 188bet mobile login level of the first half annual reports of 2017 published by the above 16 companies，According to the relevant provisions of the standard (1) for entering the innovation level: continuous profits in the past 2 years and the average net 188bet mobile login revenue is not less than 20 million yuan。The above 16 companies，Two companies have exceeded and reached a net profit of more than 60 million yuan，It is a good harvest day for Chinese catering service (836673.188bet mobile login) and Qingyuan Shares (836986 which operates the Song Dynasty Cultural Reality Theme Park.188bet mobile login）。Among them，Harvest Day was listed on the New Third Board by agreement transfer on April 11, 2016，Analysis of historical data disclosed by it (the weighted average return on net assets in the past 2 years is not less than 10%，The above are calculated after deducting non-losses)，As a representative of the NEEQ food field and a good harvest day for Shanghai’s local catering brand，Has met all the requirements of the innovation layer standard (1)。

Combined with the increase or decrease ratio of net 188bet mobile login，Nearly half of the companies have a net 188bet mobile login increase of more than 50%。Among them, Vision Shares engaged in outbound medical tourism (835495.188bet mobile login) and owned by Qunar.com (holding 56.80% shares) engaged in technology (ticket) service business ST Baituo (430110.188bet mobile login) Year-on-year increase in holdings by 778.06% and 350.00%；In addition，Western online travel platform Zijuntu.com (839202.188bet mobile login）Since official operation in 2014，Achieve stage profit for the first time 160.510,000 yuan，Net profit increased by 133% year-on-year.76%；The Blue Dolphin (871599 under the Guangdong Provincial State-owned Assets Supervision and Administration Commission is engaged in the Pearl River water tourism business.188bet mobile login），Optimizing business structure，Seize the advantages of the off-peak and peak seasons of holidays，Achieve net profit increase of 103% year-on-year.62%。

3. High gross 188bet mobile login PK revenue and 188bet mobile login

Analysis from the 188bet mobile login level of the first half of 2017 reports published by the above 16 companies，There are 9 companies with gross profit margins exceeding 30%，One of their common characteristics is: emphasis on destination resources or technology or strong exportability。For example, the gross profit margin is as high as 94.70% of Biluo Tower (833194.188bet mobile login) and gross profit margin as high as 73.31% of Qingyuan shares (836986.188bet mobile login) respectively operates and manages Biluota Bar Park, a national 4A scenic spot focusing on "sea culture + night culture" and Qingming Shanghe Garden Scenic Area, a national 5A scenic spot with "Song Dynasty Cultural Live Theme Park".，Especially Qingyuan Co., Ltd. is strengthening the planning of the third phase project，By "Theme Park + Performing Arts" 3.Version 0 upgraded to "Theme Park + Performing Arts + Technology Experience IP" 4.Version 0，At the same time, expand outward with an asset-light model，Output Management，Achieve sustainable development by breaking through bottlenecks，It is essentially based on Songcheng Performing Arts (300144.SZ)’s off-site expansion model，Joined Huaqiang Fantawild (834793.188bet mobile login)’s high-tech elements，At the same time, we also learn the elements of Disney to maintain the original cultural connotation of Disney’s super IP；And the gross profit margin is 60.60% harvest day (836673.188bet mobile login) Focusing on Chinese food brand building，Achieve diversified investment and development，In addition gross profit margin 47.15% hunting shares (870746.188bet mobile login) Focusing on the “New OTC Market’s First Hunting Stock” Taizishan Hunting Culture Theme Park，Copy the Hubei Taizishan Hunting Culture Theme Park model，Realize external output management。Signed the Abe Royal Hunting Ground Project in the first half of 2017，And recently established a wholly-owned subsidiary, Wuhan Hunting Enterprise Management Consulting Co., Ltd., whose main business is to export management models。In addition，Gross profit margin 52.48% of ST Baituo (430110.188bet mobile login)1282 in the first half of 2017.Income of 160,000 yuan，There are 70.76% of the income comes from technical service fees，Remaining 12.83% and 16.41% comes from service fee income and ticket agency income respectively；In the same period of 2016, the revenue was 2069.650,000 hits，Technical service fee income only accounts for 7.22%，Service fee income and ticket agency income account for 65% each.47% and 27.31%。

Combined with the increase and decrease ratio of 188bet mobile login，More than half of the companies have negative percentage growth in 188bet mobile login，It seems that the overall tourism market is not optimistic。Especially Tibet Sky Travel (837206 which is engaged in ground transportation business in Tibet.188bet mobile login），Market irregularities continued to worsen during the reporting period。Since listing on May 9, 2016，Gross profit margin continues to decline，Occurred in the first half of 2017-21.70% gross profit margin，Also in revenue、Net profit、Earnings per share、There is negative growth in assets and other aspects。Also，Listed on November 9, 2015，Qinhuang Tourism (834184, which is engaged in yacht rental business.188bet mobile login) is backed by Qinhuangdao Shengjing Real Estate Group Co., Ltd. (96 shares held).00%），Revenue since listing、Net profit also continues to be sluggish。During the reporting period，Gross profit margin is -16.30%，Net profit decreased by 4366 year-on-year.54%。Also on April 26, 2017，In view of the risks in Qinhuang Tourism’s 2016 annual report on short-term debt repayment and sustainable operating capabilities，Should Lixin Accounting Firm issue an audit report with an unqualified opinion with an emphasis on matters paragraph；Guodu Securities (the sponsoring securities firm) issued a risk warning announcement。

Combined with the queryable company valuation situation analysis，188bet mobile login that focus on destination resources or technology may have higher valuations。For example, Juntu.com (839202 is backed by Shaanxi Tourism Group (Shaanxi Provincial State-owned Assets Supervision and Administration Commission).188bet mobile login），Since its establishment in 2013，Mainly "taking Internet technology as the forerunner"，Vision of “deeply cultivating tourism destination resources”，Juntu Cloud Technology Segment has been established to provide technical services and data services related to smart tourism industry chain applications and decision-making、Juntu digital marketing segment based on “content + brand + media”、Juntu cultural and creative sector and Juntu tourism investment business sector that adhere to "cultural innovation + technological creativity"，A relatively complete Juntu.com ecosystem has been formed。Gross profit margin increased from 5 in the same period of 2016.71% increased to 9.57%，Ranked among the top 5 companies in terms of gross profit margin growth ratio，And achieved phased profits for the first time during the reporting period。And valuation 6.1.6 billion yuan to operate 4A scenic spot (Bailu Hot Spring Scenic Area) Bailu Hot Spring (835976.188bet mobile login) generated revenue during the reporting period、Both net profit and gross profit margin are declining，Mainly caused by the Hongyagu tourist resort project invested 3.2 billion in April 2016 in accordance with the national 4A scenic spot standards。During the reporting period，The total assets of Bailu Hot Spring are 8.5.3 billion yuan，Year-on-year growth of 8.58%。After the completion of Hongya Valley Tourist Resort，The "Bailu Hot Spring-Hongya Valley" tourist resort complex will be formed，It is expected to change the current unfavorable net profit situation of Bailu Hot Spring。

Of course，Not excluded currently，The current situation that 188bet mobile login the New OTC Market are generally undervalued and the differences among the companies reported in this issue。

4. The number and amount of funds raised are few and small

final，Analysis from the financing level of the first half of 2017 reports published by the above 16 188bet mobile login，The number and amount of funds raised are few and small。The above-mentioned companies have had a total of 3 fixed increases，The total amount is about 1.1.1 billion yuan，Among them, travel companions (830812.188bet mobile login) raised 62 million yuan in the stock issuance plan reviewed and approved on March 22, 2017，Used to the subsidiary Youban Travel Agency to pay the advance payment for the luxury cruise business and to acquire the equity or asset acquisition of the travel agency，Still in the inquiry stage during the reporting period。And on August 11th，The "Subscription Announcement" released by Yueban Travel shows: 15 yuan/share，Raised 30 million yuan。Therefore，The total amount of funds actually raised by the above-mentioned enterprises is 7922.million yuan。In addition，A good harvest day for Chinese catering service (836673.188bet mobile login) raised 11.22 million yuan mainly to provide preparatory funds for the company’s new store project，The funds have not been used during the reporting period；Juntu.com, a western e-commerce platform (839202.188bet mobile login) The 38.1 million yuan raised is mainly used by the company to pay investments and daily operations in subsidiaries。Invested 10 million yuan each in two wholly-owned subsidiaries, Juntu Cloud Data and Juntu Digital Media during the reporting period，Supplement Juntu Travel Agency’s working capital of 15.16 million yuan，In addition, the remaining investment amount for participating in Danxia Intelligent Travel during the non-reporting period is 2.94 million yuan。

* The author of this 188bet mobile login is Liang Guoqing，Charging Analyst (WeChat: liangzi2015)。Welcome to communicate！