Last week (January 17 to January 23), the Shanghai Composite Index rose 0.04%, the Shenwan social service index fell 1.29%, and the social service index underperformed the Shanghai Composite Index by 1.33 percentage points; In addition to tourism and scenic spots, the main sub blocks of social services fell last week: Hotel Catering – 0.41%, tourism and scenic spots 5.17%, education – 2.44%, professional services – 5.69% and sports – 4.03%. The 14th five year plan for tourism development issued by the State Council is expected to become a strong agent for the development of the tourism industry by alleviating the difficulties faced by the tourism industry, supporting the development exploration of market players and increasing the cultivation and development of the tourism market. The work report of Hainan provincial government puts forward the expected target of 100 billion tax-free sales of outlying islands in 2022, and the policy dividend is expected to continue to be released. It is optimistic about the high prosperity tax-free track for a long time. Tourism and scenic spots bucked the trend and led the industry. This week, the peak season of tourism consumption reservation for the Spring Festival was opened. Tourism travel recovered stably and showed significant localization and small radius characteristics. Short distance peripheral travel became popular. In addition, the Winter Olympics enabled ice and snow travel, and the Spring Festival ice and snow travel bookings on the flying pig platform increased by 484% year-on-year. In 2022, the national education work conference was held. Vocational education and double reduction are still policy hotspots. The conference called for the development of vocational education to meet the needs of new technology and industrial reform, and continue to fight the tough implementation war of “double reduction”. At the same time, Beijing, Guangdong and other places across the country actively responded to the implementation of the development of vocational education. It is suggested to pay attention to education companies committed to the development of educational technology and the layout of vocational education segments.
1. Tourism: suggestions and concerns: 1) tax exemption leader benefiting from the recovery expectation and policy support of inbound and outbound tourism; 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 expected recovery of cross-border travel; 4) Hotel leader with long-term competitiveness.
2. Education: the 2022 national education work conference calls for the development of vocational education to meet the needs of new technology and industrial reform, and continue to fight the implementation war of “double reduction”. At the same time, Beijing, Guangdong and other places across the country actively responded to the implementation of the development of vocational education. It is suggested to pay attention to education companies committed to the development of educational technology and the layout of vocational education segments.
Key investment points:
Last week (January 17 to January 23), the Shanghai Composite Index rose 0.04%, the Shenwan social service index fell 1.29%, and the social service index lost 1.33 percentage points to the Shanghai Composite Index, ranking 15th in the rise and fall of Shenwan’s 31 primary industry indexes. Since the beginning of the year, the Shanghai Composite Index has fallen by 3.22%, the Shenwan social service index has fallen by 2.97%, and the Shenwan social index has outperformed the Shanghai Composite Index by 0.25 percentage points, ranking 15th among the 31 primary sub industries of Shenwan.
Industry related news: 1) Tourism: the target of Hainan government work report in 2022: the sales of duty-free shops on outlying islands is 100 billion yuan; State Council: tourism development plan of the 14th five year plan; Flying pig: ice and snow tourism bookings for the Spring Festival increased by 484% year-on-year. 2) Education: National Bureau of Statistics: 12.69 million new urban jobs were created throughout the year; The national education conference will be held in 2022, and double reduction and vocational education are still the key words; 19 secondary vocational schools in Beijing added 35 majors this year, focusing on informatization and intelligent manufacturing; In 2022, Guangdong Province plans to allocate 600 million yuan to promote the development of vocational education.
Important announcements of listed companies: Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) , Huatian Hotel Group Co.Ltd(000428) , Changbai Mountain Tourism Co.Ltd(603099) , Songcheng Performance Development Co.Ltd(300144) , Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) performance forecast, China Tourism Group Duty Free Corporation Limited(601888) performance express; Suzhou Kingswood Education Technology Co.Ltd(300192) performance forecast, Eastern Pioneer Driving School Co.Ltd(603377) share repurchase; Guangzhou Shiyuan Electronic Technology Company Limited(002841) personnel changes.
Risk factors: 1. Risk of natural disasters and safety accidents. 2. Policy risk. 3. Investment, M & A and integration risk.
