Market review of the previous week (2022.3.7-2022.3.11): after opening high this week, the Shanghai index continued to fall to the middle of the week, repeatedly hit a new low on the second and third days, and then maintained a low shock. The Shenzhen index has a similar course this week and rebounded to maintain shock after hitting a new low in the middle of the week. The Shanghai Composite Index fell 4.00% to close at 330975. The CSI 300 fell 4.22% last week to close at 430652. Last week, 0 of the sub sectors of social services and tourism retail rose, with the range from high to low: professional services (- 3.20%), tourism and scenic spots (- 7.16%), tourism retail (- 7.37%), education (- 9.90%) and hotel catering (- 11.65%). Last week, 0 of Shenwan (2021) 31 primary industries rose, and the five with the smallest decline were comprehensive, power equipment, food and beverage, medicine and biology, and architectural decoration. Among them, the social service sector fell 7.91%, ranking 31st among Shenwan’s 31 industries. The social service industry underperformed the CSI 300 index by 3.69pcts. Multi place relief measures help accelerate the recovery of tourism; “Her economy” and spring outing fever highlight the toughness of travel demand, and the construction of urban intelligent transportation network is conducive to tourism transportation; Medium and high-end hotels continue to expand, focusing on the development of sinking market.
Formulate policies in many places to promote the destruction of Tourism: Heilongjiang will take measures to realize the concentrated and intensive development of culture and tourism around key areas such as digital culture, cultural creativity, ice and snow tourism and ecotourism. Guangzhou will vigorously promote the construction of world-class tourism destinations and drive the development of tourism in the whole region with the construction of core scenic spots. Yunnan Province issued the policy of “epidemic prevention and control to accelerate tourism development”, tamped supply innovation in response to demand changes, and used fiscal and financial measures to support project development. The introduction of various policies aims to bring a diversified development pattern to the tourism industry and boost the recovery and development.
“Her economy” has distinct characteristics, and spring tourism is worth looking forward to: Ctrip report shows that the proportion of female tourists in per capita consumption, live orders, tourism shopping, etc. is higher than that of men, and more than 60% of family tourism decisions are dominated by women. OTA data show that with the advent of spring, flower viewing, spring outing, camping, outing search and orders have increased significantly year-on-year, and the forms of family and parent-child travel are expected to continue to become hot spots.
Smart transportation enabling Transformation: the 2022 government work report proposes to promote the development of digital economy, strengthen the overall layout of Digital China Construction, and China Transinfo Technology Co.Ltd(002373) enable urban traffic governance with digital technology to help alleviate congestion in Binjiang District of Hangzhou. Both electrification and intellectualization provide opportunities for the development of the transportation industry. Urban road network and artificial intelligence are expected to promote the development of urban tourism transportation.
The rate of opening up has been rising continuously. Hotels have focused on the sinking market. In recent years, the high-end high-end hotels have become an important trend in the development of hotels. According to the signing report of the Chinese mainland mid and above brand hotels in 2021, the city distribution of the contracted hotels in the past three years shows that the three tier city has reached the top 320, up 34% over the same period. Become the fastest growing investment market. Under the normalization of epidemic control, hotel brands pay more and more attention to sinking market development and development space. For the strategic layout and landing of third and fourth tier cities, it is expected to become another important factor determining the future development of hotels.
Investment suggestions:
The development strategy of revitalizing tourism recovery in all regions is conducive to creating a good market environment and expectations. As one of the industries most affected by the epidemic, tourism has a large employment capacity. The inclination of assistance policies may effectively promote the accelerated recovery of tourism. Women have become the key to family vacation decision-making, and their consumption power and influence have gradually increased; The amount of travel search and orders increased year-on-year in spring, and the tourism demand is still increasing; With the continuous expansion of hotels of various brands, sinking the market may become the focus of efforts. Continue to recommend tax-free leading enterprises China Tourism Group Duty Free Corporation Limited(601888) ; Recommend Btg Hotels (Group) Co.Ltd(600258) , Shanghai Jin Jiang International Hotels Co.Ltd(600754) , China Cyts Tours Holding Co.Ltd(600138) , Songcheng Performance Development Co.Ltd(300144) , Jiangsu Tianmu Lake Tourism Co.Ltd(603136) , Lijiang tourism, Utour Group Co.Ltd(002707) , Guangzhou Lingnan Group Holdings Company Limited(000524) , and other hotels, scenic spots and comprehensive tourism service targets in the logic of cultural tourism restoration; Recommend Changbai Mountain Tourism Co.Ltd(603099) to release the benefit target of ice and snow tourism demand and Shanghai Yuyuan Tourist Mart (Group) Co.Ltd(600655) to focus on high-frequency consumption scenes and innovation target of life services.
Risk tips:
Covid-19 virus epidemic situation is repeated, the industry recovery is less than expected, and the implementation and implementation of policies are less than expected.
