Market review: from December 20 to December 24, 2021, CITIC consumer service industry index fell by 1.71% as a whole, ranking the 28th among all CITIC primary industry indexes, losing about 1.04 percentage points of the CSI 300 index in the same period. CITIC consumer service industry segment trend differentiation. Hotel catering and comprehensive services rose by 3.04% and 2.18% respectively, outperforming the Shanghai and Shenzhen 300 index; Education, tourism and leisure fell by 2.59% and 2.67 respectively, underperforming the Shanghai and Shenzhen 300 index. There were 24 listed companies with positive earnings in the industry, of which the top five were Shenzhen Kingsun Science & Technology Co.Ltd(300235) , Yunnan Tourism Co.Ltd(002059) , Dongguan Kingsun Optoelectronic Co.Ltd(002638) , Shanghai Jin Jiang International Hotels Co.Ltd(600754) , Dalian My Gym Education Technology Co.Ltd(002621) , up 30.07%, 22.22%, 9.52%, 5.78% and 5.25% respectively. 27 companies achieved negative returns, of which the top five listed companies were China Hi-Tech Group Co.Ltd(600730) , Offcn Education Technology Co.Ltd(002607) , Dark Horse Technology Group Co.Ltd(300688) , Kaiyuan Education Technology Group Co.Ltd(300338) , The Great Wall Of Culture Group Holding Co.Ltd.Guangdong(300089) , down 6.5%, 10.60%, 10.77%, 11.52% and 16.04% respectively.
Industry operation data: as of December 24, 2021, the vaccination volume of covid-19 vaccine per 100 people in China has reached 190.13 doses, the cumulative vaccination volume of covid-19 vaccine has reached 2.758 billion doses, and the average covid-19 vaccination volume in seven days is about 12.056 million doses. The total amount of covid-19 vaccination per 100 people in the world reached 113.56 doses, of which the complete vaccination rate of covid-19 vaccine per 100 people reached 48.21%, and the daily covid-19 vaccination volume reached 35.9749 million doses. In terms of tax exemption for outlying islands, from December 20 to December 26, 2021, the number of civil aviation inbound and outbound flights at Sanya Phoenix Airport reached 2388, up 0.29% month on month, down 9.37% from the same period in 2019; The number of inbound and outbound flights of Haikou Meilan International Airport reached 2682, a month on month decrease of 1.94% and a decrease of 17.63% compared with the same period in 2019. The number of inbound and outbound flights of Hainan civil aviation decreased slightly this week due to the scattered epidemic situation in Xi’an, Guangdong and other places.
Industry perspective: maintain the recommended rating of the industry. This week, the valuation of the consumer service industry was basically flat month on month, but the number of new cases of Xi’an epidemic did not improve over the weekend, and the short-term leisure service industry was under pressure. Pfizer and MSD oral covid-19 specific drugs have been approved and listed by FDA, which is expected to accelerate the influenza of covid-19 epidemic in the world. It is recommended to pay careful attention to the medium and long-term benefits from consumption upgrading and consumption return, Tax exempt leaders China Tourism Group Duty Free Corporation Limited(601888) (601888) with significantly warmer number of tourists in Hainan and low current valuation; chain hotel leaders Shanghai Jin Jiang International Hotels Co.Ltd(600754) (600754), Btg Hotels (Group) Co.Ltd(600258) (600258) with high proportion of franchise stores and stable performance.
Risk warning: macroeconomic fluctuations are downward; Changes in industrial policies; Repeated epidemic situation; Global vaccination is less than expected.
