Market review last week (2022.1.4-2022.1.7): last week, the Shanghai index fluctuated on the first day, fell continuously on the next three days, and the Shenzhen index fluctuated downward for four consecutive days. The Shanghai Composite Index fell 1.65% to close at 3579.54. The CSI 300 fell 2.39% last week to close at 4822.37. The gem fell 6.80% last week to close at 3096.88. Last week, one of the sub sectors of social services and tourism retail rose, with the range from high to low: Tourism and scenic spots (+ 3.65%), hotel catering (- 0.54%), education (- 0.99%), professional services (- 3.40%) and tourism retail (- 5.30%). Last week, 13 of Shenwan (2021) 31 primary industries rose, and the top five rose in real estate, household appliances, building decoration, petroleum and petrochemical, and banking. Among them, the social service sector fell 0.86%, ranking 16th among Shenwan 31 industries, and the social service industry outperformed the Shanghai and Shenzhen 300 index by 1.53pcts. The main building of Sanya duty-free city project is capped, and members of the Beijing Municipal Committee of the Chinese people’s Political Consultative Conference suggest supporting the tax-free city; China’s boutique hotels have great room for improvement, and the contracted hotels for the Winter Olympics have entered the final preparation link; The new generation of tourists promote the change of tourism products, and the Ministry of culture and tourism promotes the high-quality development of rural villagers’ accommodation.
Main points:
The main structure of Sanya duty-free city has been capped. Members of the Beijing Municipal Committee of the Chinese people’s Political Consultative Conference proposed to support tax exemption in the city. The tax exemption data of outlying islands in 2021 are eye-catching: Recently, the main structure of the commercial project of land No. 2, phase I of China free Sanya International duty-free city has been officially capped, and the project construction has entered a new stage. Members of the Beijing Municipal Committee of the Chinese people’s Political Consultative Conference proposed to promote the implementation of duty-free business in Beijing and promote the growth of consumption in the field of duty-free by increasing the amount of duty-free, expanding duty-free varieties and setting up duty-free stores in the city. According to the Department of Commerce of Hainan Province, the total sales of 10 duty-free shops on outlying islands in Hainan in 2021 was 60.173 billion yuan, yoy + 84%. Among them, the tax-free sales volume was 50.49 billion yuan, yoy + 83%; 9.6766 million person times of duty-free shopping, yoy + 73%; 53.4925 million pieces were purchased duty-free, yooy + 71%. The tax-free industry has strong policy attributes. If different sales channels are successfully implemented, it may be beneficial for all business entities to continue to expand their territory and jointly expand the overall tax-free market.
The number of boutique hotels in China needs to be increased, and the signing hotels of the East Olympic Games have entered the final preparatory stage: the report analysis on the supply status and market scale of China’s boutique hotel industry in 2022 released by the Foresight Research Institute shows that China’s boutique hotels account for less than 1% of the overall market share of hotels, and the growth rate slows down, revealing room for improvement. Hotels signed for the Winter Olympics, such as BTG group and Marriott International Group, have entered the final preparation stage. The natural marketing attribute of the event is expected to drive hotel revenue and help develop long-term influence.
The new generation of tourists drives the diversified development of tourism, and the Ministry of culture and tourism promotes high-quality rural B & B: during the new year’s day, the same journey data show that nearly half of the people after 90 and 00 travel. New play methods such as night tour and script killing promote the change and diversified development of tourism products. The Ministry of culture and tourism will issue policy documents to promote the high-quality development of rural B & B and formulate a three-year action plan for the cultivation of grade tourism B & B. At present, rural tourism is still lack of planning professionalism and mobilization of villagers. The cultivation plan is expected to drive rural tourism to make up for its shortcomings.
Investment suggestions:
The construction of China free Sanya duty-free city project has entered a new stage. Members of the Beijing Municipal Committee of the Chinese people’s Political Consultative Conference proposed to support the tax-free city. Recently, the main structure of Sanya duty-free City Phase I and site 2 commercial project has been officially capped. In addition, Sanya tourism continues to improve its quality and upgrade towards high-quality development. The company has high-quality growth in the medium and long term. The number of boutique hotels in China needs to be increased, and the contracted hotels for the Winter Olympics have entered the final preparatory stage. The new generation of tourists stimulate the iteration of tourism products, and the Ministry of culture and tourism promotes the high-quality development of rural villagers’ accommodation. Continue to recommend China Tourism Group Duty Free Corporation Limited(601888) tax-free leading enterprises, and 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 tourism comprehensive service targets in the logic of cultural and tourism recovery; It is suggested to pay attention to enterprises that are good for the release of ice and snow tourism demand.
Risk tips:
The epidemic situation of covid-19 virus is repeated, the industry recovery is less than expected, and the implementation and implementation of policies are less than expected.
