Industry core view:
Last week (February 14-february 20), the Shanghai Composite Index rose 0.8%, the Shenwan social service index fell 0.33%, and the social service index underperformed the Shanghai Composite Index by 1.13 percentage points; Last week, the main sub sectors of social services were mixed: Hotel Catering – 3.27%, tourism and scenic spots – 5.67%, education 5.9%, professional services 0.59% and sports 0.26%. Shenzhen is committed to promoting the expansion and acceleration of tax-free economy, and proposes to build tax-free stores in the city with Shenzhen characteristics to guide the return of overseas consumption. Major countries in Europe and the United States have laid flat epidemic prevention, and the epidemic situation in Hong Kong and many places in China has revived. Inbound and outbound tourism may be difficult to rise in the short term. The tourism industry is under pressure, and the hotel catering, tourism and scenic spots have fallen sharply this week. In order to alleviate the plight of the tourism industry, the Ministry of culture and tourism has issued a series of relief policies to increase targeted measures and precise assistance, which is conducive to stabilizing the basic market of the industry. Under the background of policy support and normalization of the epidemic situation, the long-term positive trend of tourism has not been significantly disturbed. The “double reduction” in the education industry is still on the road, and non subject after-school training is being stepped up into supervision. At the first press conference of the “education Spring Festival” series, it was mentioned that the Ministry of education will entrust a qualified and reputable third-party institution to carry out an independent investigation on the implementation of the “double reduction” by schools. Zhejiang Provincial Department of education has made it clear that qualified non subject after-school training institutions such as culture and art, science and technology and sports must also follow the principle of public welfare when entering the campus to provide after-school services. It is suggested to pay attention to non discipline education companies that promote the development of educational technology and meet the policy requirements.
1. Tourism: suggestions: 1) tax exemption leader benefiting from policy support and channel advantages; 2) The performance leader benefiting from the recovery of passenger flow and consumption under the normalization of the epidemic; 3) Head travel agencies benefiting from the expected recovery of cross-border travel and the popularity of surrounding tourism; 4) A hotel leader with strong anti risk ability. 2. Education: the “double reduction” is still on the road, and non subject after-school training is being stepped up into supervision. At the first press conference of the “education Spring Festival” series, it was mentioned that the Ministry of education will entrust a qualified and reputable third-party institution to carry out an independent investigation on the implementation of the “double reduction” by schools. Zhejiang Provincial Department of education has made it clear that qualified non subject after-school training institutions such as culture and art, science and technology and sports must also follow the principle of public welfare when entering the campus to provide after-school services. It is suggested to pay attention to non discipline education companies that promote the development of educational technology and meet the policy requirements.
Key investment points:
Last week (February 14-february 20), the Shanghai Composite Index rose 0.8%, the Shenwan social service index fell 0.33%, and the social service index lost 1.13 percentage points to the Shanghai Composite Index, ranking 23rd in the rise and fall of Shenwan 31 primary industry indexes. Since the beginning of the year, the Shanghai Composite Index has fallen by 4.09%, the Shenwan social service index has fallen by 2.91%, and the Shenwan social index has outperformed the Shanghai Composite Index by 1.18 percentage points, ranking 15th among the 31 primary sub industries of Shenwan.
Industry related news: 1) Tourism: Ministry of culture and Tourism: reduce pressure, increase vitality and stabilize the basic market of the tourism industry; Most of the listed travel enterprises suffered losses in advance and were eventually defeated by the outbreak raid; The number of people in Hong Kong increased by 4285 on the 16th, and the epidemic in Japan and South Korea continued to spread; Shenzhen: promote the construction of duty-free shops with Shenzhen characteristics and guide the return of overseas consumption. 2) Education: the Ministry of education will entrust a third-party institution to carry out an independent investigation on the implementation of “double reduction” in schools; The Ministry of culture and tourism implements the responsibility of “double reduction”, and issues a document to standardize the after-school training of culture and art; Zhejiang: how non subject after-school training institutions participate in after-school services; Shanghai: actively cultivating children
Important announcements of listed companies: Wuhan Sante Cableway Group Co.Ltd(002159) litigation and arbitration, Caissa Tosun Development Co.Ltd(000796) share reduction, Utour Group Co.Ltd(002707) , Wuhan Ddmc Culture & Sports Co.Ltd(600136) , Shenzhen Esun Display Co.Ltd(002751) personnel change, Beijing Career International Co.Ltd(300662) , Tongqinglou Catering Co.Ltd(605108) share reduction; Kaiyuan Education Technology Group Co.Ltd(300338) share pledge; Xueda (Xiamen) Education Technology Group Co.Ltd(000526) , Sansheng Intellectual Education Technology Co.Ltd(300282) personnel changes.
Risk factors: 1. Risk of natural disasters and safety accidents. 2. Policy risk. 3. Investment, M & A and integration risk.
