The first quarter press conference of the Ministry of culture and tourism was held, and a number of measures were taken to promote the recovery of tourism in the second quarter
1. The opinions on promoting the revitalization of rural areas enabled by cultural industry has promoted the development of cultural industry and tourism in rural areas, expanded consumers’ optional tourism modes and destinations, and provided a new direction for the development of China’s tourism industry; 2. This year, the establishment of a list of China’s special tourism resources will be carried out to classify high-quality tourism resources, which will help promote the maintenance and updating of tourism resources in various scenic spots and enhance their attraction to tourists; 3. In May this year, all parts of the country will organize China Tourism Day in an orderly manner to stimulate residents’ Tourism enthusiasm and promote the recovery of tourism through the issuance of cultural and tourism consumption vouchers, tourism enterprise promotion and other tourism benefit measures.
Zhejiang Province held a press conference on epidemic prevention and control, and the Provincial Department of culture and tourism said that cross-border tourism can be operated normally
At the press conference on epidemic prevention and control in Zhejiang Province, the Provincial Department of culture and tourism said that there were no medium and high-risk areas in the province, so travel agencies and online tourism enterprises in Zhejiang Province can normally operate inter provincial team tourism and “air ticket + Hotel” business. In the context of the “circuit breaker” mechanism, the non medium and high-risk areas in Zhejiang Province have created conditions for the opening of inter provincial tourism. From the perspective of epidemic prevention and control risk, it is less likely that inter provincial tourism between provinces in areas without medium and high risk will become a chain of virus transmission; From the perspective of economic recovery expectation, inter provincial tourism is a major driving force for urban development and GDP growth for provinces with booming scenic spot business. At present, there are 12 provinces (autonomous regions and municipalities directly under the central government) without medium and high-risk areas in China. With the warmer weather and the stabilization of the epidemic situation, inter provincial tours between provinces without medium and high-risk areas are expected to resume one after another.
Catering and tourism sector: Helen company disclosed the performance announcement in 2021 and opened stores throughout the year to achieve the goal of the prospectus
Helen company disclosed the performance announcement of 2021. In 2021, the company achieved revenue of 1.836 billion yuan / yoy + 124.4%; Operating profit: 3.05 yuan / yoy + 100.2%; After adjustment, the net profit was 100 million yuan / yoy + 32.2%, and the overall revenue performance was in line with expectations, mainly due to the rapid expansion of the tavern network. In 2021, the company opened a net of 431 to 782 stores, reaching the 400 + target in the prospectus.
Hotel sector: Btg Hotels (Group) Co.Ltd(600258) and Shanghai Jin Jiang International Hotels Co.Ltd(600754) disclose annual performance, and their revenue, profit and structure recover well
\u3000\u30001). Shanghai Jin Jiang International Hotels Co.Ltd(600754) disclosure of annual results: in 2021, the company achieved revenue of 11.339 billion yuan / yoy + 14.6% (compared with – 24.9% in the same period in 2019), net profit attributable to parent company of 101 million yuan / yoy-8.7% (compared with – 90.8% in the same period in 2019), net profit deducted from non attributable to parent company of – 120 million yuan / compared with – 670 million yuan in the same period last year. From the perspective of revenue structure, Lufu / Botao / VIENNA / Jinjiang system achieved revenue growth, in which Lufu significantly reduced losses and Botao / Vienna continued to increase. 2). Btg Hotels (Group) Co.Ltd(600258) disclosure of annual results: in 2021, the company achieved a revenue of 6.153 billion yuan / yoy + 16.49% (compared with the same period in 2019 – 25.96%), the net profit attributable to the parent company of 55.68 million yuan / yoy is not applicable (compared with the same period in 2019 – 93.7%), and 18002000 new hotels are planned to be opened in 2022
Investment advice
The Ministry of culture and tourism has taken many measures to promote the recovery of tourism in the second quarter. We suggest paying attention to the four main lines of recovery logic: 1) Recommend Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) , Shanghai Jin Jiang International Hotels Co.Ltd(600754) , Btg Hotels (Group) Co.Ltd(600258) , Huazhu group, which are at the bottom of the cycle / with stable long-term growth logic; 2). Recommend Songcheng Performance Development Co.Ltd(300144) , Jiangsu Tianmu Lake Tourism Co.Ltd(603136) , targets of high-quality scenic spots benefiting from the increased penetration of leisure tourism and peripheral tourism, and pay attention to China Cyts Tours Holding Co.Ltd(600138) , Wuxi Online Offline Communication Information Technology Co.Ltd(300959) , Fosun tourism culture opened up by Wuxi Online Offline Communication Information Technology Co.Ltd(300959) tourism business and Changbai Mountain Tourism Co.Ltd(603099) , which benefit from the increased attention of ice and snow tourism; 3). Recommend Helen’s and jiumaojiu, which are expected to be repaired in the same store after the epidemic, have strong growth fundamentals, and are incubating new brands & new business forms. It is suggested to pay attention to Haidilao, Xiabu and Xiabu, the leading restaurant; 4). It is recommended to recommend the tax-free sector benefiting from consumption return and consumption upgrading and the human services sector with obvious anti cyclical attribute. It is recommended to recommend China Tourism Group Duty Free Corporation Limited(601888) , Beijing Career International Co.Ltd(300662) .
Risk tips
Macroeconomic fluctuation risk; Repeated outbreaks exceed the expected risk; The risk of intensified industry competition; The landing of new projects / products is less than the expected risk; Food safety risks; Risk of major teaching accidents.
