PRSU Latest Report

Financial Performance

Based on the provided data, Pursuit Attractions (stock code: PRSU) recorded a total operating revenue of -741251000 yuan at the end of 2024, a YoY decrease of 24.19% from -596716000 yuan at the end of 2023. This change indicates that the company's revenue performance during the reporting period was unsatisfactory, with a significant reduction in revenue levels.

Key Financial Data

1. The sales cost in 2024 was -644266000 yuan, an increase of approximately 17.93% from -546166000 yuan in 2023.

2. The operating revenue in 2024 was -144114000 yuan, a significant decrease from -57632000 yuan in 2023.

3. The special items of operating expenses in 2024 were 47129000 yuan, an increase from 7082000 yuan in 2023, which may lead to an overall increase in operating expenses.

4. The non-current operating income in 2024 was 424860000 yuan, indicating that the company's performance in its core business was unsatisfactory and relied on non-recurring income to make up for losses.

Peer Comparison

1. Industry-wide analysis: In the industry where Pursuit Attractions is located, the overall operating revenue may be affected by macroeconomic conditions, intensified industry competition, and changes in consumer demand. The tourism and entertainment industry is usually hit hard during economic slowdowns, leading to a decline in overall revenue.

2. Peer evaluation analysis: The significant decrease in PRSU's operating revenue may reflect its insufficient competitiveness in the market. Compared with the revenue changes of other companies in the same industry, PRSU's performance appears weaker, and measures need to be taken to improve its market position.

Conclusion

This analysis suggests that Pursuit Attractions' financial performance is unsatisfactory, with a significant decrease in operating revenue, increased sales costs, and reliance on non-current operating income, reflecting problems in its operations and market strategies. Considering the industry competition and macroeconomic environment, the company's future development faces higher requirements.

Opportunities

1. The trend of recovery in the domestic tourism market may provide new revenue growth points for the company.

2. Government policy support can bring benefits to the tourism industry, helping the company improve its market performance.

3. Adjusting sales strategies, strengthening market research, and cost control can help improve competitiveness.

Risks

1. Continuous operating revenue losses may lead to further deterioration of the company's financial situation.

2. Intensified industry competition may put the company under greater market pressure.

3. The model of relying on non-current operating income may not support the company's long-term development.