Market review of last week (2022.3.142022.3.18): the Shanghai index began with a sharp decline for two consecutive days last week, rebounded continuously after the third day, and ended with a rise. The trend of the Shenzhen index was the same, repeatedly refreshing the new low to the middle of the week, and then maintaining a three-day rebound. The Shanghai Composite Index fell 1.77% to close at 325107. The CSI 300 fell 0.94% last week to close at 426590. Last week, two of the sub sectors of social services and tourism retail rose, with the range from high to low: Tourism and scenic spots (+ 4.80%), hotel catering (+ 3.97%), education (- 2.10%), professional services (- 2.22%) and tourism retail (- 5.44%). Last week, four of Shenwan (2021) 31 Tier-1 industries rose, with the top five rising in real estate, non bank finance, medicine and biology, social services and power equipment. Among them, the social services sector rose 0.85%, ranking fourth among Shenwan’s 31 industries. The social service industry outperformed the CSI 300 index by 1.79 PCTs. Haikong optimizes tax-free services, and Hefei plans to build a tax-free system in the city; The sinking market is concerned by the hotel, “online class room” has become a new trend of accommodation; The new diagnosis and treatment plan is expected to help the recovery of tourism, and the public prefers different tourism modes.
Haikong upgraded the duty-free business of outlying islands and Hefei hopes for International Development: Haikong global boutique duty-free city plans to continuously improve its service quality and launch more duty-free businesses of outlying islands through differentiated and multi-channel channels. Recently, Anhui Provincial Development and Reform Commission issued the “14th five year plan” for the development of service industry in Anhui Province, which proposed to support Hefei to create a characteristic international consumption center city in the next few years and strive to set up in City stores and departure tax rebate stores. Taking advantage of Hefei’s special geographical location, we will achieve linkage with the Yangtze River Delta, radiate the central and western regions, and comprehensively improve the added value of its service industry. China’s tax-free development is expected to maintain its development momentum for a long time.
Chain portable hotels struggled to sink the market, and online class rooms landed on several platforms: Recently, the Wanda Plaza store in Heyuan, a convenient city, opened. ELong Anyun successfully signed a contract with Kashgar, Xinjiang, known as the “Pearl of the Silk Road”. The hotel actively explored the strong consumption potential in the sinking market and provided afterforce for expansion. As of March 18, the search volume of “online class room” package on Ctrip platform increased by more than 200% compared with the previous day. “Online class room”, as a special rigid demand in the period of repeated epidemic, has brought a new idea for the hotel industry to increase revenue in the short term.
The supervision of the Ministry of culture and tourism is not relaxed, the new diagnosis and treatment plan promotes the recovery, and new exploration of inter epidemic Tourism: on March 15, the Ministry of culture and tourism held a leading group meeting on the prevention and control of covid-19 virus epidemic, clearly promoted the recovery and development of the culture and tourism industry and created a safe and harmonious environment, adhered to the general strategy of “external defense input and internal defense rebound” and the general policy of “dynamic clearing”, and strictly implemented the “circuit breaker mechanism” of inter provincial tourism; The new version of covid-19 diagnosis and treatment plan was issued, hoping to repair the expectation of medium and long-distance travel and travel, and consolidate the confidence of the industry. During the epidemic period, the frequency of new forms of tourism such as micro vacation, script killing and short video increased, consolidating the foundation for the recovery of the industry and Innovating Tourism models in many aspects.
Investment suggestions:
Driven by the policy support of the 14th five year plan and the popularity of duty-free shopping, the return of consumption will still maintain high growth expectations, and the epidemic in Hainan may cause short-term pressure; The sinking market of hotels has emerged as a new force of brand consumption, causing multiple brands to seize market dividends. The concept of “Hotel + X” introduced by “online class room” is expected to become a new driving force for development; The new diagnosis and treatment plan is expected to help the recovery of tourism and the expected recovery. The diversion of tourism among the epidemic cases and multiple non-traditional consumption branches reflect the resilience of the industry. 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 Yulong Tourism Co.Ltd(002033) , Utour Group Co.Ltd(002707) , Guangzhou Lingnan Group Holdings Company Limited(000524) and other comprehensive service targets of hotels, scenic spots and tourism 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.
