Industry core view:
Last week (from March 14 to March 20), the Shanghai Composite Index fell by 1.77%, the Shenwan social service index rose by 0.85%, and the social service index outperformed the Shanghai Composite Index by 2.62 percentage points; Last week, the main sub sectors of social services were mixed: hotel catering 3.97%, tourism and scenic spots 4.8%, education – 2.1%, professional services – 2.22% and sports 0.01%. In March 14th, the National Health Protection Commission and the State Administration of traditional Chinese medicine announced the “New Coronavirus pneumonia diagnosis and treatment plan (trial version ninth)”, which will shorten the partial isolation time. Recently, the travel restrictions in most western countries are gradually lifted, and China’s cross-border tourism is expected to gradually resume. On March 15, the Ministry of culture and tourism held a leading group meeting on the prevention and control of covid-19 virus epidemic, emphasizing that class a scenic spots should strictly implement the requirements of “limit, reservation and peak staggering” and implement the ticket reservation system. The Civil Aviation Administration said at a regular press conference that international flights entering Shanghai will be diverted from March 21. In the context of the normalization of the epidemic, the gradual liberalization of foreign travel restrictions provides a reference for China’s prevention and control logic. The implementation of the policy of “precise prevention and control” will accelerate the recovery of the tourism industry. On March 14, the Beijing Municipal People’s government issued the outline of the Beijing Municipal action plan for the scientific quality of the whole people (20212035), which clearly increased the training of farmers, strengthened the training of vocational skills, and trained 10000 high-quality farmers every year. New Oriental Hefei School held a project cooperation signing ceremony with Hefei Vocational College of Finance and Economics under Zhuoya education group. Tal has begun a comprehensive transformation, and non education and training businesses such as science and technology services, intelligent hardware and life sciences will be its key businesses in the future. Under the double reduction policy, education and training giants have transformed into vocational education, education and science and technology enterprises. Their accumulated brand, channel and technical advantages will accelerate their transformation pace, and the situation of “the strong is always strong” is expected to continue.
1. Tourism: suggestions: 1) tax exemption leader with excellent and stable business performance and benefiting from policy support and channel advantages; 2) Head travel agencies benefiting from the popularity of suburban tourism, rural tourism and regional tourism support policies; 3) Performance leaders benefiting from the optimization of prevention and control policies, passenger flow recovery and consumption recovery under the normalization of the epidemic; 4) A hotel leader with strong anti risk ability.
2. Education: vocational education companies and educational technology enterprises that actively transform and develop and meet the policy requirements.
Key investment points:
19-7 days after the release of the latest version of the anti epidemic news: Zhang Wenhong’s response time to the disease at home is shortened; Culture and Tourism Department: class a scenic spots strictly implement the requirements of “limit, reservation and peak staggering”; Civil Aviation Administration: International Flights entering Shanghai will be diverted from March 21; Guangdong: carry out special rectification actions such as “unreasonable low price tour”. 2) Education: Beijing requires to strengthen the training of farmers and train 10000 high-quality farmers every year; New Oriental has arranged digital transformation services for Higher Vocational Colleges and carried out cooperation with Hefei Vocational College of Finance and economics; Tal Transformation: focus on non educational categories such as science and technology services, intelligent hardware and life sciences.
Important announcements of the listing company of listed companies are important announcements of the important announcements of the listed company of listed companies: the Centre Testing International Group Co.Ltd(300012) merger, increase or decrease of Beijing Kaiwen Education Technology Co.Ltd(002659) shares.
Risk factors: 1. Risk of natural disasters and safety accidents. 2. Policy risk. 3. Integration risk of investment and M & A
