Last week (December 27 – January 2), the Shanghai Composite Index rose 0.6%, the Shenwan social service index rose 4.88%, and the social service index outperformed the Shanghai Composite Index by 4.28 percentage points; Last week, all the main sub sectors of social services closed up: hotel catering 3.73%, tourism and scenic spots 3.81%, education 6.7%, professional services 3.89% and sports 3.47%. One after another outbreaks outside China put pressure on the performance of tourism retail, but at the end of the year, the sprint performance of major duty-free retailers in Hainan exceeded expectations. In 2021, the annual sales of 10 outlying island duty-free stores in Hainan reached 60.173 billion yuan, a year-on-year increase of 84%. During the new year’s day, short distance peripheral travel and ice and snow tourism have become hot spots, and high-end resort hotels that can give consideration to skiing and hot springs have become the main hotel choice for many young families during the new year’s Day holiday. At present, the epidemic situation in Xi’an has not yet reached an inflection point, so it is necessary to pay close attention to the follow-up dynamics of the epidemic situation. The “double reduction” in the education industry is taking action. Beijing, Shanghai and other places across the country have issued charging standards for Discipline after-school training, and the charging is subject to government guidance prices. At the same time, the expansion of quality education and the innovation of educational science and technology are also creating new opportunities for educational institutions in transition. It is suggested to pay attention to education companies committed to the development of educational technology and the transformation of quality education.
1. Tourism: it is suggested to pay attention to: 1) head travel agencies and tourist destinations that benefit from the integration of peripheral tourism and sports tourism; 2) Hotel leaders benefiting from the recovery of consumption and diversified product layout. 2. Education: the “double reduction” in the education industry is taking action. Beijing, Shanghai and other places across the country have introduced charging standards for Discipline after-school training. At the same time, the expansion of quality education and the innovation of educational science and technology are also creating new opportunities for educational institutions in transition. It is suggested to pay attention to education companies committed to the development of educational technology and the transformation of quality education. 3. Tourism retail: it is suggested to pay attention to the tax-free leader benefiting from policy support and comprehensive licensing channels.
Key investment points:
Last week (December 27 – January 2), the Shanghai Composite Index rose 0.6%, the Shenwan social service index rose 4.88%, and the social service index outperformed the Shanghai Composite Index by 4.28 percentage points, ranking first among the 31 primary industry indexes of Shenwan. Since the beginning of 2021, the Shanghai Composite Index has increased by 4.8%, and the Shenwan social service index has decreased by 10.27%. The Shenwan social index has lost the Shanghai Composite Index by 15.07 percentage points, ranking the 28th among the 31 Tier-1 sub industries of Shenwan.
Industry related news: 1) Tourism: in 2021, the total sales of 10 outlying island duty-free stores in Hainan exceeded 60 billion; The local epidemic situation in Xi’an is in the key stage of confrontation; On New Year’s day, ice and snow tourism bookings increased by 188%; The 2021 China Tourism inventory and 2022 outlook report was released. 2) Education: the number of college graduates in 2022 is expected to increase by 1.67 million year-on-year; Beijing announced the charging standards for Discipline after-school training; New Oriental Liu shuoyang: technology is the “accelerator” of the education industry.
Important announcements of listed companies: Beijing Fengshangshiji Culture Media Co.Ltd(300860) equity incentive, Huatian Hotel Group Co.Ltd(000428) , Xi’An Qujiang Cultural Tourism Co.Ltd(600706) related? Transaction, Tibet Tourism Co.Ltd(600749) stop asset restructuring, China Cyts Tours Holding Co.Ltd(600138) loan guarantee, Utour Group Co.Ltd(002707) equity transaction; China Hi-Tech Group Co.Ltd(600730) personnel change, Dongguan Kingsun Optoelectronic Co.Ltd(002638) suspension prompt, Talkweb Information System Co.Ltd(002261) project investment.
Risk factors: 1. Risk of natural disasters and safety accidents. 2. Policy risk. 3. Investment, M & A and integration risk.
