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女导游一路奋斗到董事长，如今冲刺上市：公司靠“划船”年入亿元，“瘦西湖船娘”是重要招牌_我的网站

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一 | Major housing industry groups voiced "profound concern" in a letter this week urging the Federal Reserve to stop raising interest rates.The rare public admonishment from top business advocates -- including the National Association of Realtors and the National Association of Home Builders -- underscores a dramatic slowdown in the housing market due in large part to rising interest rates.The letter arrives roughly three weeks before the Fed plans to make its latest rate-hike decision.Mortgage rates have reached their highest level in more than two decades and they have continued to rise. Data released on Thursday showed that mortgage rates increased for the fifth consecutive week, according to Freddie Mac."The speed and magnitude of these [mortgage] rate increases, and resulting dislocation in our industry, is painful and unprecedented," the letter from the housing groups said.Here's what to know about why real estate groups called on the Fed to stop raising rates:

What's happening in the housing market?

Sky-high mortgage rates have dramatically slowed the housing market, since homebuyers have balked at stiff borrowing costs and home sellers have opted to stay on mortgages that lock them into relatively low rates.Mortgage applications have fallen to their lowest level since 1996, the Mortgage Brokers Association said earlier this month.Sales of previously owned homes, meanwhile, have plummeted more than 15% compared to a year ago, the National Association of Realtors found in August.The slowdown has coincided with a sharp rise in costs for potential homebuyers.The average interest rate for a 30-year fixed mortgage has climbed to nearly 7.6%, Freddie Mac data shows.When the Fed initiated the rise of bond yields with its first rate hike of the current series in March 2022, the average 30-year fixed mortgage stood at just 4.45%.Each percentage point increase in a mortgage rate can add thousands or tens of thousands in additional costs each year, depending on the price of the house, according to Rocket Mortgage.

What role is the Federal Reserve playing in the housing market slowdown?

An aggressive series of interest rate hikes at the Federal Reserve since last year has pushed up the 10-year Treasury yield, which loosely tracks with long-term mortgage rates.The Fed has fought elevated inflation with borrowing cost increases as it tries to slash price hikes by slowing the economy and choking off demand.While inflation has fallen significantly from a peak of about 9% last summer, price increases remain more than a percentage point higher than the Fed's inflation target.Price increases held steady in September, fresh data on Thursday showed, suggesting that elevated inflation remains resistant to the interest rate hikes.The persistence of elevated inflation has prompted the Fed to espouse a policy of holding interest rates at high levels for a prolonged period, which in turn has increased the 10-year Treasury yield and put upward pressure on mortgage rates.Moreover, the Fed expects to raise rates one more time this year, according to projections released last month.Speaking at a press conference in Washington, D.C., last month, Fed Chair Jerome Powell acknowledged the continued effect of interest rates on mortgages, noting that activity in the housing market "remains well below levels of a year ago, largely reflecting higher mortgage rates."

What do the housing industry groups want the Fed to do?

Housing industry advocates want the Fed to take swift actions that reassure investors and other market participants of an end to the policies cooling the industry.Most notably, the industry groups want the central bank to release a statement saying that it has abandoned consideration of additional rate hikes.In their letter to Fed officials, the housing groups cautioned that a further slowdown in real estate could help tip the U.S. economy into a recession, scuttling the central bank's effort to achieve a "soft landing.""We urge the Fed to take these simple steps to ensure that this sector does not precipitate the hard landing the Fed has tried so hard to avoid," the letter said.。本文来自微信公众号：每日经济新闻（ID：nbdnews），作者：每经记者 “烟花三月下扬州”，李白的一首诗，让扬州瘦西湖的湖光山色成了无数人心中的诗意远方。如今，泛舟这片国家5A级旅游景区的公司，正准备敲开资本市场的大门，用船桨“摇”出一个IPO（首次公开发行）。 9月，江苏瘦西湖文化旅游股份有限公司（以下简称“瘦西湖文旅”）向港交所递交了招股书。这家年营收超1亿元的企业，核心收入主要来自“划船”——85%以上营收依赖水上游船观光服务。公司掌舵者、55岁的董事长徐顺美，早年只是一名景点导游，但凭借对文旅行业的深耕，一路走向管理层，带领企业打响了“瘦西湖船娘”这一招牌。游船业务收入占比超过八成主要业务仍“困”在扬州作为扬州市内目前唯一一家持牌的水上游船观光运营商，瘦西湖文旅拥有蜀冈—瘦西湖风景区水上游船观光20年独家经营权，并在古运河区域享有运营水上游船观光的无期限专营资格。水上游船业务撑起了瘦西湖文旅的业绩。2022年至2024年，公司总营收从0.31亿元增长至1.11亿元，净利润从298万元增长到4288万元。

二 | 其主营业务可以分为三大板块：水上游船观光服务、观光车服务和景区管理服务。但后两项业务在总营收中占比较低。2022年至2024年及2025年上半年，瘦西湖文旅水上游船观光服务的收入占比始终维持在85%以上，分别为88.3%、87.2%、86.2%和85.6%。

三 | 为了打破单一业务依赖，瘦西湖文旅也做过尝试。去年10月，公司推出大运扬州行进式游船演艺，演出沿着扬州段大运河展开。该项目2025年上半年营收1844.8万元，占总收入21.8%。此外，瘦西湖文旅还推出“游船+”增值服务，比如早茶体验项目、研学项目、企业定制活动等。这类增值服务的收入在2024年占总营收的35.3%。游船业务高度集中在当地，也意味着公司的业务版图仍“困”在扬州。根据弗若斯特沙利文数据，瘦西湖文旅在2024年江苏省水上游览服务船票销售市场上占有16%的份额，排名第二。

四 | 但在全国水上游览市场中仅排名第十位，份额为1%。图片来源：公司招股书截图因此，瘦西湖文旅也在切入景区管理业务。公司在2022年开始与高邮清水潭旅游度假区签订托管协议，但这部分收入不算高。瘦西湖文旅与清水潭旅游度假区最新签订的合作协议显示，3年时间（2025年7月1日至2028年6月30日）里，瘦西湖文旅收取的固定管理费为350万元。值得注意的是，瘦西湖文旅这3年时间中，还需向扬州传媒公司支付合计180万元的高邮清水潭旅游度假区营销服务报酬。

五 | 公司主推摇橹船服务包船价1000元现年55岁的徐顺美是瘦西湖文旅的灵魂人物。她出生于1970年，职业生涯始于最基层的景点导游。凭借突出的能力和对景区的深刻理解，徐顺美一路晋升，历任瘦西湖公园秘书处处长、瘦西湖管理处副主任等职。 2011年，她担任瘦西湖文旅总经理一职，2019年后升任董事长。徐顺美一直主导设计并开发了多条水上旅游线路以及大运扬州行进式游船演艺，“瘦西湖船娘”这一核心品牌也离不开她的推动。 2009年，公司打造了“大学生瘦西湖船娘”品牌，并开始组建年轻化的船娘队伍。在票价方面，摇橹船包船服务价格一般为1000元，摇橹船的女性驾驶员称为“船娘”，男性驾驶员称为“船夫”。徐顺美曾表示，要让“瘦西湖船娘”这一品牌不断发光发亮，要让每一位船娘会摇船、会讲解、会游泳、会唱扬州小调、会做心理疏导。截至目前，公司共拥有206艘游船，其中包括36艘摇橹船、106艘自驾船和64艘主题船，标准运营下单航次总载客量达3817人，旅游高峰期每日最大承载量超3.5万人。其中，摇橹船最具特色。“瘦西湖船娘班”过去几年共接待超83万名享受摇橹船服务的游客，这成为瘦西湖文旅的重要收入来源。

六 | 2017年，瘦西湖文旅已成功挂牌新三板，迈出资本化第一步。但冲刺港股的道路并非坦途，港股市场上的文旅类企业估值普遍不高，且2025年以来尚无文旅企业在港股成功IPO的案例。这位从景点导游走向管理层的董事长徐顺美，能否完成这场从运河之畔到国际化资本市场的跳跃？（免责声明：文章内容和数据仅供参考，不构成投资建议。投资者据此操作，风险自担。