Report summary
Industry views and investment suggestions
This week, A-shares slightly adjusted, and the leisure service industry outperformed the market. This week, the epidemic situation in many parts of China began to improve, but the risk of proliferation in Xi’an increased, closed management began, and the stock prices of hotels, duty-free and some scenic spots began to rebound.
Boosted by the concept of meta universe, Yunnan Tourism Co.Ltd(002059) recorded three trading limits this week. Yunnan Tourism Co.Ltd(002059) the well-known virtual image IP “laughing two sisters” under OCT culture and tourism technology, a wholly-owned subsidiary, adopts advanced “real-time facial expression capture system” and “whole body dynamic capture technology”, which can interact with the audience in real time online. “Kwai two sisters” are synchronized playing over 20 short sighted platforms in the tiktok, over 13 million fans on the shaking and fast hands, and over 3 billion 100 million times in the entire network, which has a high influence. Recently, boosted by the concept of meta universe, the company has four days and three boards, which has attracted market attention.
In the peak season of new year’s day, pay attention to the consumption leader China Tourism Group Duty Free Corporation Limited(601888) . With the recent nationwide cooling, Hainan has ushered in the peak season of the year. Except Xi’an, the epidemic situation in many places in China has begun to improve, and the passenger flow in Hainan has gradually recovered. Next weekend is the new year’s Day holiday, which is expected to usher in a small peak of passenger flow. In the first 11 months of this year, the sales of duty-free shopping on outlying islands in the province exceeded 50 billion yuan and the average daily sales exceeded 150 million yuan, maintaining a high growth trend. Meilan Airport Phase II and Phoenix Airport Phase II, Haikou international duty free city and Sanya phase I site 2 to be opened in 2022 will significantly increase the duty-free business area, help the growth of medium and long-term sales and the improvement of market share, and the first mover advantages of China tax exemption in procurement, channel and management will be further highlighted. At present, the company’s share price is oversold and the valuation is low, which is worthy of layout.
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) , Tibet Tourism Co.Ltd(600749) are recommended.
Plate Market
In the current period (from December 20 to December 24), the leisure service industry index fell by 0.03%, while the Shanghai and Shenzhen 300 index fell by 0.67% in the same period. The leisure service industry index outperformed the Shanghai and Shenzhen 300 index by 0.64pct, ranking 13th among the 28 shenwanyi industries. The three stocks with the largest gains this week are Yunnan Tourism Co.Ltd(002059) (+ 22.22%), Shanghai Jin Jiang International Hotels Co.Ltd(600754) (+ 5.78%) and Hainan Dadonghai Tourism Centre (Holdings) Co.Ltd(000613) (+ 4.96%); the three stocks with the largest decline are Beijing Dataway Horizon Co.Ltd(301169) (- 11.8%), Beijing Fengshangshiji Culture Media Co.Ltd(300860) (- 9.83%) and Changbai Mountain Tourism Co.Ltd(603099) (- 5.88%).
Risk tips: systemic risk, epidemic risk, policy promotion, lower than expected enterprise operation, etc.
