Industry core view:
Last week (March 21-march 27), the Shanghai Composite Index fell 1.19%, the Shenwan social service index fell 2.6%, and the social service index underperformed the Shanghai Composite Index by 1.41 percentage points; The main sub sectors of social services, except professional services, all fell: Hotel Catering – 4.94%, tourism and scenic spots – 2.86%, education – 4.47%, professional services 1.44% and sports – 0.4%. Recently, the epidemic broke out in many places across the country, with more than 1000 new cases for many consecutive days. The prevention and control situation is still grim, and the recovery of the travel industry may be overdue. China Eastern Airlines plane crash continues to ferment, and the public’s willingness to travel will be greatly impacted in the short term. The further decline of air travel demand under the influence of the epidemic will hinder the recovery of the aviation industry. The implementation plan of the 14th five year plan for the construction of Beibu Gulf urban agglomeration was approved. The reply requires Beibu Gulf Urban Agglomeration to jointly promote the construction of Hainan free trade port. The implementation of the plan will further deepen the opening and cooperation between Hainan and coastal urban agglomeration and provide support for the development of Tourism and tax-free business in Hainan. Guangdong has issued 13 + 7 policy targeted relief measures for tourism. The expansion and upgrading of travel agency business will alleviate the negative impact of the epidemic on travel agencies. The annual performance reports of 2021 released by several OTAs show that the market revenue of local and peripheral tourism is one of the main growth points of the performance in 2021. The creative exploration based on suburban tourism resources will become a breakthrough in the growth of short-distance tourism market in the future. However, due to the shortage of artificial intelligence and artificial intelligence in the field of education in 2022, there is still a large gap in the field of artificial intelligence and artificial intelligence, which will be introduced into the field of education in 2022. The meta universe education experience center recently built by Huike also shows the application of meta universe in digital education. In addition, k12 education faces the pressure of transformation, and the field of preschool education has attracted much attention. New Oriental’s first store in the field of nursery education has landed in Wuhan and is expected to open in the second half of the year.
1. Tourism: suggestions: 1) tax exemption leader with excellent and stable business performance and benefiting from policy support and channel advantages; 2) The performance leader benefiting from the recovery of passenger flow and consumption under the normalization of the epidemic; 3) Head travel agencies benefiting from the popularity of suburban travel, peripheral travel and more relaxed support policies; 4) A hotel leader with strong anti risk ability. 2. Education: vocational education and preschool education companies that actively transform and develop and meet the policy requirements.
Key investment points:
Industry related news: 1) Tourism: worse, the recovery of pressure demand in the civil aviation industry depends on two core elements; National Health Commission: the epidemic situation in Shanghai, Hebei, Fujian and Liaoning has increased rapidly recently, and there is a risk of community transmission; The implementation plan of the 14th five year plan for the construction of Beibu Gulf urban agglomeration has been approved, and Hainan is worth looking forward to!; In 2021, the performance of online tourism recovers, and short-distance travel carries the banner. 2) Education: blue book on Artificial Intelligence Education in 2022: artificial intelligence education may become an important supplement to “after-school service”; Huike creates a meta universe education experience center and cooperates with many colleges and universities to jointly build a pilot of meta universe education; Progress of New Oriental nursery education: the first store is located in Wuhan and is expected to open in the second half of 2022.
Important announcements of listed companies important announcements of listed companies important announcements of listed companies: the annual disclosure of the Guangzhou Lingnan Group Holdings Company Limited(000524) securities lending stopped and Jiangsu Chuanzhiboke Education Technology Co.Ltd(003032) shares were repurchased.
Risk factors: 1. Risk of natural disasters and safety accidents. 2. Policy risk. 3. Investment, M & A and integration risk.
