Industry views and investment suggestions
This week, A-Shares stopped falling and rebounded. The Shanghai stock index rose 0.8% and the gem rose 2.93%. Due to the large increase in the week after the festival, the share price of the social service industry generally adjusted this week. Outbound tourism, hotels, duty-free and scenic spot stocks all fell significantly.
Notice on jointly Issuing Several Policies on promoting the recovery and development of difficult industries in the service industry by multiple departments. The policy puts forward 43 Specific measures from three aspects: inclusive support and relief, targeted support and relief and accurate implementation of epidemic prevention and control. In terms of inclusive support policies, we will continue the policy of adding and subtracting value-added tax in the service industry. For catering, retail and other industries greatly affected by the epidemic, we will increase support in epidemic prevention subsidies, deferred payment of some social security fees, credit financing and so on. For the tourism industry, continue to implement the temporary refund of travel service quality deposit by travel agencies, and allow the deferred payment of part of social security expenses; When the government purchases accommodation, conference, catering and other service items, it is required not to restrict relevant enterprises from participating in government procurement based on star rating and ownership; Government agencies, enterprises and institutions are encouraged to hold trade union activities and exhibition activities, which are undertaken by travel agencies. The policy provides targeted support for the survival and development of small, medium-sized and micro enterprises in the service industry, emphasizes precise prevention and control, effectively restores and maintains the normal order of the development of the service industry, and provides a favorable guarantee for the gradual recovery of service enterprises under the background of the normalization of the epidemic.
This year, the total sales of duty-free shops in Hainan outlying islands reached 10 billion yuan. As of February 13, the total sales of 10 duty-free shops on outlying islands in Hainan this year were 9.954 billion yuan, a year-on-year increase of 70%. Among them, the tax-free sales volume was 9.199 billion yuan, a year-on-year increase of 74%; The number of duty-free shoppers was 1605800, a year-on-year increase of 68%; The number of duty-free purchases was 9.5992 million, an increase of 89% year-on-year. From February 1 to 13, the total sales of 10 outlying island duty-free stores in Hainan reached 4.132 billion yuan, a year-on-year increase of 127%. Since February, the average daily sales have exceeded 300 million yuan. The Spring Festival is the peak season of tax exemption for outlying islands throughout the year. During the Spring Festival this year, the passenger flow in Hainan increased significantly. Driven by the joint efforts of major operators and officials, the tax-free sales of outlying islands increased significantly. From the daily average sales in February, there is still a lot of room for the growth of tax exemption for outlying islands. Investment suggestion: continue to be optimistic about the development space of China’s tax-free industry and continue to recommend China Tourism Group Duty Free Corporation Limited(601888) . In addition, the industry leaders of fine molecules Beijing Career International Co.Ltd(300662) , Btg Hotels (Group) Co.Ltd(600258) , Songcheng Performance Development Co.Ltd(300144) are recommended..
Plate Market
In the current period (from February 14 to February 18), the leisure service industry index fell by 0.33%, while the CSI 300 index rose by 1.08% in the same period. The leisure service industry index underperformed the CSI 300 index by 1.41pct, ranking 23rd among the 28 Shenwan industries.
Risk tips: systemic risk, epidemic risk, policy promotion, lower than expected business conditions and other risks.
