After experiencing a slow recovery in the second and third quarters of 2020，Many 188bet online sports betting companies have not escaped the fate of losses。Recently，Changbai Mountain (603099.SH）、Emeishan A (000888.SZ) and other 188bet online sports betting companies whose main business is tourist attractions have issued pre-performance announcements，The annual results in 2020 showed losses to varying degrees。

With the recurrence of the new coronavirus epidemic，Domestic epidemic prevention and control continues to escalate，Many tourist attractions have been closed or increased traffic restriction measures。According to analysis by Zhou Mingqi, analyst at Jingjian Think Tank，Affected by the epidemic、The influence of multiple factors such as economy，The overall depression of the industry，It may take a long time，The entire 188bet online sports betting industry will undergo a large-scale reshuffle，The business model also urgently needs to be changed。

The 188bet online sports betting may show general losses

According to the prediction of China 188bet online sports betting Academy，Full year 2020，Domestic tourist arrivals will have a negative growth rate of 15.5%，Decrease by 9 year-on-year.3.2 billion people；Negative growth in domestic 188bet online sports betting revenue 20.6%，Full-year 188bet online sports betting revenue decreased by 1.18 trillion yuan。

Judging from the performance of 188bet online sports betting，Although it improved after the second quarter，But it is still difficult to escape the bad luck of losing money throughout the year。According to Changbai Mountain Announcement，It is expected that the operating results in 2020 will be at a loss，The net profit attributable to shareholders of the listed company is about -54.94 million yuan；The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses is about -59.38 million yuan。

Mount Emei is expected，The company’s operating income will reach 5 in 2020.3-5.600 million yuan，The annual net profit loss attributable to shareholders of listed 188bet online sports betting is 35-45 million yuan。Tianmu Lake (603136.SH) also announced pre-reduction data，Its attributable net profit in 2020 is expected to decrease by 6185.55-7422.660,000 yuan，50%-60% year-on-year decrease。

Zhou Mingqi pointed out to the reporter of Financial Associated Press，The above listed companies are basically tourist attractions、Tourist destination，Their main income basically includes scenic spot tickets、Traffic Ropeway、Travel agency、Hotel accommodation、Different business formats such as 188bet online sports betting and performing arts，What they have in common is that they all rely on well-known domestic first-line traffic scenic spots，So their income changes can basically reflect the optimal state of tourist attractions。"If the overall shrinkage of the scenic spot in the head is this much，Then the operating conditions of other scenic spots can be imagined。”

Since 2020，Many well-known 188bet online sports betting have announced bankruptcy and reorganization，Including some national 5A、4A Scenic Area，Like Yesanpo in Hebei、Yangzigou in Luoyang, Henan、Chongqing Longmen Formation Scenic Area and Longtan Grand Canyon, etc.。

On the other hand，To alleviate financial problems caused by the epidemic，Some companies are also beginning to seek listing。Since the beginning of 2020，Zhejiang Southern Cultural 188bet online sports betting Technology Co., Ltd.、Canton Tower 188bet online sports betting and Culture Development Co., Ltd. (hereinafter referred to as "Canton Tower")、Shaanxi 188bet online sports betting、Qingdu 188bet online sports betting and others have announced the relevant listing process。Local governments represented by Guizhou are also preparing to support some 188bet online sports betting enterprises，Planning to formulate a work plan to promote the listing of 188bet online sports betting companies，The listing leadership team will analyze and judge the problem，Promote the province’s 188bet online sports betting enterprises to achieve a “zero” breakthrough in listing during the “14th Five-Year Plan” period。

But 188bet online sports betting companies are under the influence of low gross profits and the epidemic，Performance is not optimistic。Judging from the performance previously announced by Canton Tower，First half of 2020，It received a total of 250,000 visitors to the tower，A decrease of 850,000 passengers year-on-year，Decrease of 77%；Achieve operating income 1.0.2 billion yuan，Decreased by 67% year-on-year.57%，Loss of about 64.54 million yuan。 A brokerage analyst told a reporter from the Financial Associated Press，"Except for the impact of the epidemic，Adjustment of application threshold，It also makes the IPO channel smoother than before，This is also the reason why a large number of 188bet online sports betting companies have gathered together。”

“Under the influence of the epidemic，Many 188bet online sports betting companies have seen listings、Advantages of financing，Even some traditional scenic spots with state-owned assets，Also starting to prepare for listing。" Zhou Mingqi said。

Single model, difficult to turn around losses

Actually，Financial constraints have become a common problem for travel companies。"Get to the root cause，The epidemic is just an accelerator that leads to losses for 188bet online sports betting companies，Simple profit model is the fundamental problem。The ropeway that the scenic spot currently relies on、Cable car and other businesses belong to the ranks of traditional income，In the context of nationwide ticket price reductions，Profit space has been continuously compressed。”

Judging from the situation in Changbai Mountain，At the beginning of listing in 2012，Once considered by the industry to “depend on the weather”，Over-reliance on third quarter revenue。But many years later，This phenomenon has not changed，The core business is still the transportation of tourists within the 188bet online sports betting area、Travel vehicle rental、Mainly parking lot management, etc.。

“The operating efficiency of traditional scenic spots completely depends on tickets、Cable Car、Basic income such as transportation，Relying on monopolizing natural resources，Instead of making money by developing your own abilities，This is a chronic disease of 188bet online sports betting development。With the continuous deepening of the ticket reduction and exemption policy for scenic spots，This profit model will be broken sooner or later。" Zhou Mingqi thinks。

As understood，Except for listed travel companies that have disclosed pre-reduction announcements，Zhongxin、Caesar Travel and other listed travel companies whose main business is travel agencies are also facing loss pressure。The above-mentioned brokerage analysts told reporters from the Financial Associated Press，"Tourist Attraction、Part of the income at the destination is directly linked to the travel agency，Take Huangshan 188bet online sports betting as an example，This income accounts for about 5%，In 2020, this part of the income is basically negligible，It also affects the revenue of the scenic spot to a certain extent。”

Also，Hotel facilities in tourist attractions are affected by the epidemic，There is also a decline in revenue。"First and second quarters of 2020，The hotels in the scenic area are basically not open，Recovery in the third quarter，But the price is not as good as the same period in 2019。" A staff member of Huangshan 188bet online sports betting revealed to a reporter from the Financial Associated Press。

Judging from the current situation，The recurrence of the epidemic may have a lasting impact on the performance of 188bet online sports betting companies in the first quarter of 2021。BOC Securities pointed out in the research report，Recently, cultural and 188bet online sports betting departments in many places have strictly implemented epidemic prevention and control measures，For example, Hainan temporarily does not accept tourists from medium- and high-risk areas，Strictly control the travel team，It may put some pressure on the performance of companies related to the social services sector in the first quarter of 2021。The current global epidemic situation is still unclear，The situation is still serious，It is expected that the recovery pace of outbound 188bet online sports betting-related industries will still face great uncertainty。

2020，Some travel agencies already exist、Scenic Area Clearance。Many practitioners believe that，The industry as a whole will still be relatively difficult in 2021，The traffic restrictions in scenic spots will not be lifted in a short time。Currently，Most urban scenic spots have a traffic limit of 75%，Some scenic spots in medium and high-risk areas are closed，The Spring Festival 188bet online sports betting peak previously expected by the industry is basically impossible to achieve。

BOC Securities believes，From the current situation，Returning home during the Spring Festival is being affected by the reduction of movement and 188bet online sports betting recommendations strongly advocated by various places，Although there will not be large-scale unsubscriptions like last year，But it is difficult to reach the normal level of 188bet online sports betting in previous years。

"Facing industry difficulties，Travel 188bet online sports betting still need to change their thinking and profit models，From traditional income to vacation、Leisure Transformation。Integrating into new business formats，The company’s revenue will be more guaranteed，There may be more room for imagination in the capital market。" Zhou Mingqi said。

*188bet online sports betting articleComeSource: Financial Associated Press, author: Li Danyu, original title: "Many 188bet online sports betting have expected losses in 2020, and the industry turning point has not yet appeared, making it more difficult to turn around losses during the year》.