Last week (02.21-02.25), the social service sector (Shenwan) fell 3.14%, the Shanghai Composite Index fell 1.13%, the Shenzhen Component Index fell 0.35%, and the Shanghai and Shenzhen 300 fell 1.67%. The social service sector lost 2.01 percentage points to the Shanghai composite index last week, ranking 25th among the weekly rises and falls of Shenwan’s 35 primary sub industries.
Core view:
The second China International Consumer Goods Expo (2022) will be held in Haikou from April 12 to 16. Compared with the first consumer fair, this Consumer Fair has added more highlights. Some of the new household appliance industry segments, such as haidaihua, haidaihua and haidaixiang, are added by haidaihua and haidaihua. Some head brands have also expanded their exhibition scale. For example, the exhibition area of Swiss Richemont group has doubled from 300 square meters to 600 square meters, and watch brands such as Montblanc have been added. At the same time, a new national product boutique hall with an area of 6000 square meters has been set up in the consumer Expo. The domestic brands that have been confirmed to participate in the exhibition include Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) , Wuliangye Yibin Co.Ltd(000858) , Bloomage Biotechnology Corporation Limited(688363) , Zhong Xuegao. In addition, Estee Lauder will make its debut as a group for the first time and will bring its 13 iconic brands, including EST é e Lauder, lamer, MAC, Clinique, etc.
As the world’s largest tourism retailer, China free group will organize more than 200 stores around the world to appear in this consumer Expo. After nearly 40 years of rapid development, China free has established long-term and stable cooperative relations with more than 1000 world-famous brands around the world. This consumer Expo will make full use of the consumer Expo platform to deeply connect global brand resources, support and jointly host the “second global tax exemption and tourism retail conference”, and organize more than 200 stores and professional purchasing groups of the group to attend the conference. At present, the epidemic situation continues to improve. The state has successively issued policies such as the 14th five year plan for tourism development to support the development of tourism and tourism retail industry. The prosperity of the tax-free industry is expected to continue to repair. The holding of the consumer Expo will help China duty free and other tourism retailers further deepen their cooperation with international brands, enhance the international influence of China’s duty-free industry, establish stronger advantages in the introduction of brands and supply chain management, and help China’s duty-free enterprises achieve sustained and high performance growth.
Company announcement and industry information:
Btg Hotels (Group) Co.Ltd(600258) : idle raised funds will be used for cash management and redemption at maturity. The principal of entrusted financial products redeemed at maturity accounts for 3.34% of the net raised funds The function of ticket collection and distribution center is no longer reserved in the north of the scenic spot.
Investment suggestions:
Duty free industry: we are optimistic about the relatively clear recovery trend of the duty-free industry supported by the recovery of passenger flow. The related targets are China Tourism Group Duty Free Corporation Limited(601888) , which is expected to show a recovery in revenue and profit after the recovery of passenger flow.
Hotel Industry: the upgrading of industry structure and chain trend are obvious, the brand, scale and management advantages of leading hotel groups are obvious, and there is good growth space in the future. Related targets include leading enterprises Shanghai Jin Jiang International Hotels Co.Ltd(600754) , Btg Hotels (Group) Co.Ltd(600258) , Huazhu group.
Catering and Tourism: the trend of industry chain is obvious, and attention is paid to the expansion and business performance of leading catering enterprises. The relevant targets include seabed fishing, sipping and sipping.
Risk tips:
Repeated epidemic impact; Macroeconomic fluctuations; Policy supervision risk.
