Changbai Shan Tourism

What Changbai Shan Tourism does

Changbai Shan Tourism Co., Ltd. is a Chinese state-controlled tourism operator listed on the Shanghai Stock Exchange under ticker 603099. The company is the exclusive manager of all three scenic areas of Changbai Mountain (North, West, and South), one of Northeast China's premier natural attractions, and operates from its headquarters in the Changbai Mountain Protection and Development Zone of Jilin Province. Its controlling shareholder is Changbai Shan Development & Construction Group, a state-owned enterprise.

The company runs a vertically integrated service portfolio built around the scenic areas: tourism transportation (including intra-scenic shuttles and Beidou-enabled fleet operations), hotel and lodging management (via subsidiary Tianchi Hotel Management, with an IHG-licensed Crowne Plaza as a flagship), hot spring operations (subsidiary Lanjing Hot Spring), ticketing, F&B, and a travel agency arm (Yilv Travel). Ancillary businesses include Yuehua Ecological Products (local retail), Tianchi Enterprise Consulting, and a gas station branch. Underpinning operations is a "5-level safety early warning" system, intelligent video monitoring, grid-based safety management, and a service quality standard that meets China's National Road Passenger Transport Safety Standardization Level 1.

The business model is a hybrid of (a) direct consumer revenue from ticketing, transport, lodging, and hot springs served to individual leisure travelers, (b) B2B and group revenue from corporate events, MICE, and partner travel agencies, and (c) asset-light "management output" (委托管理) fees from operating third-party scenic assets, including the Lushuihe Hunting Ground, Tibet Kangma Hot Spring Resort, Yanbian Mengdumi Tourism Resort, and several smaller sites. Monetization is concentrated in the peak summer season and increasingly the winter ice-and-snow tourism segment.

Name

Changbai Shan Tourism

Legal name

长白山旅游股份有限公司

Website

https://cbmt.com.cn

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Changbai Shan Tourism is a Chinese state-controlled operator managing all three scenic areas of Changbai Mountain under Shanghai Stock Exchange ticker 603099, offering integrated transportation, hotel, hot spring, ticketing, and asset-light management services to individual travelers, corporate groups, and partner scenic sites across China.

Ownership category

akta.pro rank

Product category

Mountain Scenic Area Tourism and Hospitality

NAICS

Tour Operators (561520), Scenic and Sightseeing Transportation, Other (4879), Recreational and Vacation Camps (except Campgrounds) (721214)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Services-Amusement & Recreation Services (7900), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Resort & Branded Residence Vacation Rental Management (BPAJAIAE)

akta.pro secondary industries

Resort-Area Full-Service Hotels (Non–All-Inclusive) (THAGAAAD), Luxury & VIP Destination Services (Concierge/Chauffeur) (THAKAEAG)

Keywords

• Scenic area management
• Tourism transportation
• Hot spring operations
• Hotel management
• Travel agency services

Headquarters

HQ city

Jilin

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Tourism Transportation Services (旅游客运): Core business providing scenic area transportation within Changbai Mountain's North, West, and South scenic zones. The company operates a fleet of tourist buses and specialized vehicles, charging visitors transportation fees as part of ticket packages.
2. Hotel Management (酒店管理): Operations through subsidiaries including Crown Plaza Changbaishan Hot Spring Hotel (长白山温泉皇冠假日酒店), managed under the IHG brand, and Tianchi Hotel Management Co. (天池酒店管理公司). Revenue generated from room bookings, F&B, and event services.
3. Hot Spring Operations (温泉运营): Hot spring resort operations including聚龙泉养生会馆, 长白山火山温泉部落, providing hot spring bathing and spa services. Revenue from day-use tickets, overnight packages, and F&B.
4. Scenic Area Tickets (景区门票): Revenue from gate tickets for Changbai Mountain's three scenic areas. North scenic area ticket: 105 RMB/person; West scenic area: 105 RMB/person; South scenic area: 105 RMB/person. Transportation bus and special vehicle fees additional.
5. Travel Agency Services (旅行社): Through subsidiaries including长白山易游旅游服务公司 (formerly吉林省长白山天池国际旅行社) and managed scenic areas including露水河狩猎场, 峡谷浮石林, providing tour packages and guiding services.
6. Management Output / Brand Licensing (管理输出): Management contracting services for third-party scenic areas including露水河狩猎场, 西藏康玛温泉度假酒店, 延边梦都美旅游度假区, charging management fees for brand and operational expertise.
7. Food & Beverage and Retail: Revenue from on-site dining at various locations including景区内餐厅,换乘中心食堂, and retail sales at attractions.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Changbai Shan Tourism operates the three core AAAA-level scenic areas of Changbai Mountain (North, West, and South) along with integrated tourism transportation services, hotel operations (including the Crowne Plaza hot spring hotel under IHG brand), hot spring resort operations, and travel agency services through wholly owned subsidiaries. The company also generates revenue through management output and brand licensing contracts with third-party scenic areas such as Lushuihe Hunting Ground and Tibet Kangma Hot Spring Resort.

Product overview

Changbai Shan Tourism operates as a comprehensive tourism platform managing multiple AAAA-level scenic areas (North, West, and South Changbai Mountain), hot spring resorts, hotels, and tourism transportation services. The company's core offerings include Changbai Mountain scenic area ticketing and transportation, supplemented by subsidiary operations covering travel agency services (易游旅游), hot spring development (蓝景温泉), hotel management (天池酒店), and enterprise consulting (天池企业管理咨询). The company also manages integrated resort products including hunting resorts (露水河), fishing resorts (青龙渔业), canyon scenic areas (峡谷浮石林), and cultural tourism destinations (云顶市集、雪绒花).

Differentiator

Problem solved

Functional benefit

Brands

• 长白山易游: 长白山保护开发区易游旅游服务有限公司提供的旅游服务品牌
• 蓝景温泉
• 天池酒店

Products and services

• Changbai Mountain North Scenic Area (长白山北景区) The North Scenic Area is the earliest developed tourist area on the north slope of Changbai Mountain, featuring AAAA-level attractions including Tianchi (Heavenly Lake), Changbai Waterfall, hot spring groups, Green Abyss Pool, Small Heavenly Lake, and Underground Forest. Entrance ticket 105 RMB/person; serves over 1 million visitors annually.
• Changbai Mountain West Scenic Area (长白山西景区) Located on the western slope, the West Scenic Area features Tianchi, Jinjiang Grand Canyon, Pine-Oak Romance, Wang Pool, Ladder River, Gasping Slope, and Alpine Garden with pristine natural landscapes. Entrance ticket 105 RMB/person.
• Changbai Mountain South Scenic Area (长白山南景区) The South Scenic Area showcases the Yalu River source, alpine wetlands, Yalu River Grand Canyon, carbonized wood relics, and Yuehua Twin Waterfalls with the most complete view of Tianchi. Entrance ticket 105 RMB/person.
• Tourism Transportation Services (旅游客运) Tourism passenger transportation services including shuttle buses, charter services, and special airport routes connecting scenic areas. Operates a fleet of tourist buses and specialized vehicles, charging visitors transportation fees.
• Crowne Plaza Changbai Mountain Hot Spring Hotel (长白山温泉皇冠假日酒店) Five-star hotel operated under the Crowne Plaza brand, one of the company's main hotel assets providing international-standard hotel management and distribution through IHG's global booking platform and brand network. Revenue generated from room bookings, F&B, and event services.
• Changbai Mountain Volcano Hot Spring Tribe (长白山火山温泉部落) Hot spring resort featuring outdoor hot springs amid snow, with water temperature reaching 42°C while ambient temperature drops to -30°C in winter. Operated by Jilin Province Changbai Mountain Lanjing Hot Spring Development Co., Ltd. including 聚龙泉养生会馆. Revenue from day-use tickets, overnight packages, and F&B.
• Travel Agency Services (旅行社) Tour packages and guiding services operated through Changbai Shan Yiyou Travel Services Co., Ltd. (formerly Jilin Province Changbai Mountain Tianchi International Travel Agency). Provincially licensed travel agency providing itinerary planning and tour operations.
• Da Xitai River Scenic Area (大戏台河景区) AAAA-level scenic area featuring a four-season forest dream lighting show, the only night tour scenic area in the Changbai Mountain region. 88 RMB/person (includes scenic area ticket + sightseeing bus).
• Canyon Floating Stone Forest and Ice Spring Scenic Area (峡谷浮石林、冰泉景区) AAAA-level scenic area featuring 800-year-old volcanic rock geomorphology, 30+ cold springs with 'first spring under Changbai Mountain' designation, 36m observation tower, and 3.1km stream tracing trail. 90 RMB/person.
• Lushui River Changbai Mountain Hunting Resort (露水河长白山狩猎度假区) AAAA-level hunting resort with 30,800 hectares, Asia's largest natural Korean pine mother forest, offering forest hunting, four-season rafting, clay pigeon shooting, ice fishing, and wilderness expansion activities. 70 RMB/person.
• Qinglong Fishery Tourism Resort (青龙渔业旅游度假区) AAAA-level resort featuring natural underground spring water aquaculture of salmonid fish, glass walkway, glass suspension bridge, marble slide, time tunnel, and integrated research, breeding, dining, accommodation and entertainment services.
• Management Output / Brand Licensing Services (管理输出) Management contracting services for third-party scenic areas including Lushuihe Hunting Ground, Tibet Kangma Hot Spring Resort, Yanbian Mengdumi Tourism Resort, and others, charging management fees for brand and operational expertise.
• Airport Shuttle Bus Service (旅游专线巴士) Shuttle bus service from Chibei District (Meirensong Garden/Jinshuihao Hotel) to Changbai Mountain Airport via West Scenic Area entrance and Baixi Resort Town. One-ticket system at 40 RMB/person/ride.
• Changbai Mountain Edelweiss / Snow Ronghua (长白山雪绒花) Winter tourism destination featuring music life hall, reindeer park, snow house hotpot, campfire tea, and snow playground with three ski slopes.
• Changbai Mountain Cloud Top Market (长白山云顶市集) Ice and snow culinary festival venue featuring over 60 F&B merchants, cultural creative booths, intangible heritage crafts, and 'ice and snow + cuisine + culture' integrated experience.
• Changbai Mountain Heping Mountain Sports Park (长白山和平山地运动公园) First four-season mountain sports park in China featuring ATV self-driving, UTV riding, mountain bike cross-country, and Bombardier X3 experiences on 19.75 hectares with 140m elevation drop.
• Seasonal Sightseeing Tourism Packages (观光旅游产品) Seasonal travel packages including spring snow-flower tours, summer cool retreat tours, autumn colorful forest tours, and winter snow kingdom tours. Includes themed products such as Changbai Mountain Tianchi Sunset viewing, hot spring tours, bike tours, and wedding photography tours.

Quantifiable outcome

• Served nearly 90,000 visitors for Lushuihe Hunting Ground in one year of operation after taking over management, generating revenue of over 9 million RMB
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Changbaishan Agricultural Bank (长白山农业银行)minorOthers · 1 March 2022During the COVID-19 pandemic in March 2022, Changbaishan Agricultural Bank donated medical supplies including surgical masks, protective clothing, goggles, face shields, and disinfectants valued at 18,000 RMB total.
• Changbaishan Rural Commercial Bank (长白山农村商业银行)minorOthers · 1 March 2022Donated pandemic prevention materials during the COVID-19 outbreak in March 2022 as part of joint regional anti-pandemic efforts.
• China Construction Bank Changbaishan Branch (中国建设银行白山分行长白山支行)minorOthers · 1 March 2022Donated pandemic prevention materials during the COVID-19 outbreak in March 2022, contributing to the company's anti-pandemic efforts.
• Lushuihe Forestry Bureau (continued partnership)coreStrategic or Co-development Partner · 17 June 2020On June 17, 2020, Lushuihe Forestry Bureau Director Zhao Wei led a delegation to Changbai Shan Tourism for business exchanges on forest tourism and forestry transformation. The meeting discussed deeper integration of forest resources and tourism, with the goal of integrating into the Greater Changbai Mountain ecological tourism circle.
• Lushuihe Forestry Bureau (露水河林业局)coreStrategic or Co-development Partner · 1 January 2019Since January 1, 2019, Changbai Shan Tourism has successfully managed the Lushuihe Forestry Bureau's hunting ground. After one year of operation, the company leveraged the Changbai Mountain brand advantage and channel strength to divert nearly 90,000 visitors, generating revenue of over 9 million RMB, achieving double growth in both traffic and revenue. The partnership aims to integrate forest and mountain tourism resources.
• Tibet Kangma Hot Spring Resort Hotel (西藏康玛温泉度假酒店)minorStrategic or Co-development Partner · 1 January 2018Management output partnership for a hot spring resort hotel in Tibet, part of the company's expansion strategy beyond Changbai Mountain.
• Yanbian Mengdumi Tourism Resort (延边梦都美旅游度假区)minorStrategic or Co-development Partner · 1 January 2018Management output partnership for Yanbian Mengdumi Tourism Resort, contributing to the broader Greater Changbai Mountain all-area tourism strategy.
• Baihe Forestry Bureau - Fuxulin and Bingshui Spring Scenic Areas (白河林业局浮石林、冰水泉景区)coreStrategic or Co-development Partner · 1 January 2018The company manages Fuxulin (浮石林) and Bingshui Spring (冰水泉) scenic areas under the Baihe Forestry Bureau. A tea room was built at Bingshui Spring, creating a tea culture experience journey, with cooperation to develop the canyon stone forest scenic area.
• Baihe Forestry Bureau - Daxiteitai River Scenic Area (白河林业局大戏台河景区)coreStrategic or Co-development Partner · 1 January 2018Cooperation with Daxiteitai River scenic area as part of the company's broader integration of the Greater Changbai Mountain tourism ecosystem.
• Baihe Forestry Bureau - Hongshi Stone Peak Scenic Area (白河林业局红石石峰景区)minorStrategic or Co-development Partner · 1 January 2018Cooperation with Hongshi Stone Peak scenic area for joint tourism development within the Greater Changbai Mountain region.
• Canyon Fuxulin Scenic Area (峡谷浮石林景区)coreStrategic or Co-development PartnerJoint investment with the canyon Fuxulin scenic area to build the Bingshui Spring tea room, creating a tea culture experience facility. Ice Spring is known as 'the first spring beneath Changbai Mountain,' with water temperature maintained at 6.5°C year-round.
• InterContinental Hotels Group (IHG) - Crown Plaza Changbai MountaincoreChannel Partner/ Reseller/ DistributorCrown Plaza Changbai Mountain Hot Spring is operated under IHG (InterContinental Hotels Group) brand, providing international-standard hotel management and distribution through IHG's global booking platform and brand network.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sante Cableway (三特索道): SZSE-listed (002159) operator of cableway and scenic area transportation services across multiple Chinese destinations. Highly comparable as a tourism transportation specialist serving scenic areas, similar to Changbai Shan's shuttle bus and tourism passenger transport business.
• Guilin Tourism Corporation (桂林旅游股份有限公司): SZSE-listed (000978) operator of scenic areas in Guilin including Li River cruise tourism. Comparable Chinese scenic area operator combining boat/transportation tourism, ticketing, and integrated tourism services under a public-listing structure.
• Jiuhua Tourism (九华旅游): SSE-listed (603199) operator of Jiuhua Mountain Buddhist cultural tourism in Anhui Province. Comparable mountain destination operator with cableway transportation, hotels, and tourism services under a similar A-share public listing structure.
• Huangshan Tourism (黄山旅游发展股份有限公司): SSE-listed (600054) operator of Huangshan (Yellow Mountain) scenic area in Anhui Province. Closest analog: integrated mountain scenic area operator with cable cars, hotels, and tourism services in a single premier destination, sharing the same SSE listing structure and government-linked ownership model.
• Emeishan Tourism Co., Ltd. (峨眉山旅游股份有限公司): SZSE-listed (000888) operator of Emeishan Mountain in Sichuan Province. Directly comparable as a Chinese mountain scenic area operator combining ticketing, cableway transportation, hotels, and snow/winter tourism offerings under a public-listing structure.
• Lijiang Tourism Co., Ltd. (丽江股份): SZSE-listed (002033) operator of scenic areas and tourism services in Yunnan Province including Yulong Snow Mountain. Comparable business model integrating cableway transportation, scenic area tickets, hotels, and impression/performance tourism in a single high-altitude destination.
• Zhangjiajie Tourism Group (张家界旅游集团): Operator of Wulingyuan/Avatar Mountain scenic area in Hunan Province with cableway and tourism services. Comparable Chinese mountain scenic area operator with similar integrated transportation and ticketing business model.

Broad incumbents

• China Tourism Group Duty Free (中国中免): Large SSE-listed (601888) state-owned tourism retail and duty-free operator. Comparable as a major Chinese state-owned tourism company, though focused on retail/duty-free rather than scenic area operations; useful benchmark for Chinese state-affiliated tourism company scale and valuation.
• OCT Group / Overseas China Town (华侨城): Major Chinese state-linked tourism and real estate conglomerate operating theme parks, hotels, and scenic areas across China. Comparable as a broad incumbent in Chinese destination tourism, though more diversified across theme parks and urban developments rather than concentrated on a single mountain destination.

Emerging players

• Songcheng Performance (宋城演艺): SZSE-listed (300144) operator of performance-based theme parks and live shows in scenic areas. Adjacent to Changbai Shan's destination tourism model through on-site cultural performances and themed attractions, though focused on entertainment content rather than mountain transportation/lodging.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Changbai Shan Tourism