The National Day holiday is coming，The tourist season is coming。In the capital market，Travel-related stocks are also attracting attention。What is worthy of the attention of Shaanxi people，An important merger, acquisition and reorganization in Xi’an’s 188bet market was announced yesterday (28th).。The free transfer of 100% state-owned equity of Xi'an 188bet Group Co., Ltd. (hereinafter referred to as "Xi'an 188bet Group") to Xi'an Qujiang New Area Management Committee (hereinafter referred to as "Qujiang Management Committee") has been basically finalized，The listed companies Xi'an Catering and Xi'an 188bet will also become the listing platforms of Qujiang Management Committee。Industry insider analysis，With the Qujiang Management Committee taking over full power of the West Travel Group，It will cover Xi’an 188bet、Three major listing platforms of Xi’an catering and Qujiang cultural 188bet，The imagination of shell resources will be richer in the future。

188bet fully takes over the West Travel Group

September 28，Listed companies Xi'an Catering (000721) and Xi'an 188bet (000610) issued progress announcements on the planned change of the company's actual controller。

Announcement，September 27, 2018，Xi'an State-owned Assets Supervision and Administration Commission and 188bet signed the "Agreement on the Free Transfer of State-owned Equity of Enterprises"，Using the method of free transfer of state-owned property rights，The State-owned Assets Supervision and Administration Commission of Xi’an City transferred 100% of the state-owned equity of West Travel Group to the 188bet of the transferred party，The transferred party does not need to pay the corresponding consideration。The transfer base date is December 31, 2017。Assets to West Travel Group、Liabilities、Owner’s equity, etc.，The final financial account figures (summary) of December 31, 2017 audited by the intermediary agency shall prevail。After transfer from West Travel Group，The Qujiang New District Management Committee is fully responsible for the production and operation of the West Travel Group、Reform and development、Safety and stability work。

As early as July this year，The Xi'an Municipal Government plans to transfer 100% of the state-owned equity of the West 188bet Group held by the Xi'an State-owned Assets Supervision and Administration Commission to the Qujiang Management Committee for free。Recently，With the signing of the agreement，The internal corporate mergers and acquisitions and reorganization led by the Municipal State-owned Assets Supervision and Administration Commission have finally been completed。

West Travel Group transfers to Qujiang New District Management Committee for free，This move resulted in the actual controller of Xi'an 188bet and Xi'an Catering, two listed companies under the West Travel Group, being changed to the Qujiang New Area Management Committee。

Net losses in Xi’an 188bet and Xi’an Catering in the first half of the year

For 188bet development，Historical and cultural resources and relics are very precious and scarce，Shaanxi and Xi’an have unique innate advantages here。However，As a subsidiary, it owns many famous attractions、Hotel、Travel agency、Business、A listed company with time-honored catering brands and other businesses，In recent years，The main businesses of Xi'an Catering and Xi'an 188bet, two listed companies under the West Travel Group, continue to suffer losses。The net profits of Xi’an Catering and Xi’an 188bet last year after deductions were both negative，-11.25 million yuan and -43.82 million yuan respectively。The performance in the first half of 2018 has not improved significantly。

Xi’an 188bet 2018 Semi-annual Report，The company achieved operating income 3.35.8 billion yuan，YoY growth of 7.51%；Net loss 721.30,000 yuan，16 year-on-year decrease.74%。

The performance of 188bet catering is not ideal either。First half of 2018，The company achieved revenue 2.5.4 billion yuan，YoY growth 1.08%；Net profit attributable to shareholders of listed companies - 2.05 million yuan，Net cash flow from operating activities 682.660,000 yuan，72 year-on-year increase.18%。

To this，Some insiders said，“Poor 188bet of West Travel Group，Good resources are wasted。”

It’s worth noting，Xi’an 188bet, whose performance has been sluggish in recent years, has been seeking restructuring。August 3 this year，Xi’an 188bet Announcement，Said it plans to acquire Changda World again。

Wang Changshou, director of the Institute of Cultural Industry and Modern Communication of the Shaanxi Academy of Social Sciences, once said in an interview，Although Xi’an’s cultural 188bet resources are relatively good，But the integration of effective resources is not enough，Insufficient endogenous motivation for development，General innovation in emerging cultural formats、Not enough attention to the extension of the industrial chain。Hope to pass this integration，Taking advantage of Xi’an’s 188bet and cultural resources，We must completely break down the institutional barriers to the affiliation of the resource department，Realize free flow of resources and survival of the fittest。

Integrating cultural and 188bet resources

188bet has higher expectations

After this share transfer，The operating pressure of Xi’an catering and Xi’an 188bet has also been transferred to the Qujiang New District Management Committee。Then，Will there be an improvement?？

The performance of Qujiang Cultural 188bet (600706), a listed cultural and 188bet company actually controlled by Qujiang Management Committee, seems to give people confidence。First half of the year，Qujiang Cultural 188bet achieved operating income of 6.2.7 billion yuan，25 year-on-year increase.53%；Achieve net profit attributable to shareholders of listed companies 7138.940,000 yuan，40 year-on-year increase.82%。The main scenic spots operated by Qujiang Cultural 188bet include Tang Dynasty Furong Garden、Qujiang Ocean Polar Park、Xi’an City Wall、Daming Palace National Heritage Park, etc.，Outstanding resource advantages in scenic spots。

The actual controller integrates 188bet resources in Xi’an，The synergy expected to become a bigger 188bet platform in the future is obvious。The above-mentioned industry insiders think，As the actual controller of the company，The Qujiang New District Management Committee can fully integrate the cultural 188bet resources of its three listed companies in Xi'an，Enhance collaboration capabilities，Conducive to realizing the complementarity of resources of multiple 188bet and cultural performing arts platforms under the Management Committee，It is also expected to promote the development and support of the company’s main business。

Analysis by Qu Fang, Investment Consultant of Wanlian Securities Xi’an Sales Department，Three listed companies actually controlled by Qujiang Management Committee，Is expected to benefit from the improvement of the overall quality of Xi’an’s 188bet products。The Qujiang New District Management Committee can establish a comprehensive 188bet industry operator in Xi'an，The existing business of the packaging management company includes scenic spot operation management、Catering and Hotel、Travel agency、Product sales, etc.，Create a design that covers 188bet、Planning、Operations、Full industry chain layout of management output。

From the capital market perspective，Qu Fang expected，Xi’an’s state-owned enterprise reform is further advanced，Listed companies are still expected to benefit，The imagination of shell resources will be richer in the future，There is the possibility of further injecting assets through state-owned enterprise reform in the future。If funds are attracted，Can invest including culture、Performing Arts、Quyi、Publisher、188bet marketing and other projects and companies，Improve scenic area management capabilities、Innovative event planning、Creative marketing promotion efforts，Build a strong Shaanxi cultural 188bet IP，Project upgrade promotion、Expand new cultural 188bet business。Although the internal logic of the overall sustained growth of the 188bet industry has not changed，But look specifically at Xi’an 188bet and Xi’an food，In the later period, we should focus on whether their performance can stop losses and turn profits into profits，Maintain steady growth。

*Source of this article: Huashang Daily，Author: Liu Baiwen，Original title: "Xi’an Travel Group was transferred to Qujiang Management Committee for free. Xi’an 188bet and Xi’an Catering are expected to usher in new changes》.