On June 27, the three major indexes of A shares were "red", and the hotel, catering, scenic spots and tourism sectors collectively rose, and the concept stock performed strongly!
As of the close of the market, the stock price of Junting Hotel (301073.SZ) hit a new high, rising nearly 17%; Lingnan Holdings (000524.SZ), Lijiang Shares (002033.SZ) once hit the daily limit during the session, and Shout Travel Hotel (600258.SH), Jinling Hotel (601007.SH), Emeishan A (000888.SZ) and others followed suit.
is the pioneering horn in the post-epidemic era, and this turnover is inseparable from the catalysis of positive news.
Shanghai dine-in will be resumed soon!
Food is the most important thing for people, and catering is the first in all industries!
On June 26, the Shanghai New Coronavirus Pneumonia Epidemic Prevention and Control Press Conference proposed that from June 29, streets and towns in the jurisdiction that have no medium-risk areas and no social epidemics in the past week will be open for dining and dine-in in an orderly manner. Once the policy of
was issued, Shanghai catering companies were "happy" and couldn't wait to welcome the arrival of the canteen!
You should know that as a service industry that focuses on offline operations, the repeated epidemic has caused an impact on the accommodation and catering industry that cannot be ignored. Data shows that the added value of the accommodation and catering industry in the first quarter fell by 0.3% year-on-year, and catering revenue in March and April fell by 16.4% and 22.7% year-on-year.
Affected by the epidemic, enterprises in the industry face great challenges, especially during the silent management period in Shanghai, the dine-in in Shanghai for more than two months, and offline catering consumption was severely set.
Haiyin Research Institute compiled, there are 95,495 catering enterprises in Shanghai, of which the registration time is 16.6% and 45.6% respectively, and the registered capital is within 1 million. These companies have not accumulated much in the face of old customers, and have been suspended for two consecutive months in a tight cash flow of and , which has a great overall operating pressure.
Now, as the epidemic is gradually under control, offline consumption is also expected to usher in a retaliatory rebound after the resumption of business.
Zhongtai Securities stated that with the lifting of the entire region's static management in early June, the economy entered a repair channel, and the flow of people represented by subway passenger traffic was gradually restored. Open dining and dine-in will help further promote the return of personnel flow to the same level as in previous years and accelerate the slope of economic recovery.
National tourism industry has accelerated recovery
Looking across the country, the epidemic prevention and control situation has stabilized and improved. Since June, many places including Zhejiang, Gansu, Jiangxi, Jiangsu, Qinghai and other places have adjusted their cross-provincial mobility policies to drive the tourism industry to accelerate its recovery. Data from
Tuniu Travel Network shows that as of June 21, the number of cross-provincial travel orders in June increased by 336% compared with May, and the number of tourists increased by nearly 400% compared with May. Up to now, except for Beijing and Shanghai, the national cross-provincial tourism market has been further opened, and cross-provincial tourism has almost resumed entirely before the summer vacation.
is located at the current time. With the arrival of summer, various places have launched free tickets or other discount activities.
Specifically, from June to the end of the year, 11 new state-owned A-level tourist attractions have been opened for domestic and foreign tourists from June to the end of the year; Xiamen will be opened for free from tickets to 8 paid state-owned A-level scenic spots, including the main scenic spots on Gulangyu ; Shaanxi Huashan, Jiangxi Lushan , Qinghai Chaka Salt Lake, Jilin Changbai Mountain and other scenic spots have been free of tickets to tourists across the country for one month in June.
In addition, Hainan has also vigorously launched offshore duty-free consumption coupons. In addition to issuing 20 million yuan offshore duty-free consumption coupons from June 25, the provincial government will add additional funds in a timely manner, and the municipal and county governments will also arrange supporting facilities to continue issuing consumption coupons.
can be seen that in order to give full play to the tourism industry to stimulate consumption, various places have rescued themselves, which has activated the consumption enthusiasm suppressed by the epidemic to a certain extent.
According to Tongcheng Travel "2022 Summer Travel Consumption Forecast Report", comprehensively, the optimization and adjustment of epidemic prevention and control policies and the support of various favorable policies, compared with the same period in 2021, it is expected that the domestic tourism market in the summer of 2022 will return to the track, and the overall number of tourists will be expected to recover to more than 70% of the same period in 2019.
BOC Securities believes that the tourism market is expected to rebound significantly against the background of improving the epidemic situation, stimulus consumption and favorable industrial policies.
A new round of investment opportunities are gradually emerging?
Performance level, under the influence of the epidemic, companies involved in catering and scenic spot tourism in 2021 suffered a lot of losses, and losses spread in the first quarter of this year.
According to Tonghuashun iFinD data, among the 32 concept stock companies that have been listed on the A-share market, a total of 17 concept stocks suffered losses in 2021, and in the first quarter of 2022, the number of companies that have lost money has increased to 28.
Among them, , which has a smaller overall operating scale, delisted Haichuang and Donghai A, both are about to withdraw from the A-share stage due to continuous losses and are currently in the delisting settlement period.
It is worth mentioning that Donghai A, a well-known tourism and hotel listed company in Sanya City, Hainan Province, has reached its peak since its listing in 1997, and its annual operating income has basically been around 30 million yuan, and its net profit attributable to shareholders is also hovering between losses and profits.
In addition, there are also *ST Xuefa and "formerly tourism giant" ST Caesar. Due to financial fraud and poor management, they have become "the glory is no longer there."
Compared with the "indecent" performance in the past, in the secondary market, the "rebound market" of most concept stocks has already taken the lead due to the improvement of the epidemic and the increasing consumption intensity. In terms of the stock price of
, since the sector market rebounded on May 9, except for the above 4 stocks , which are about to be delisted or face the risk of delisting, the other concept stocks have all recovered significantly. The recent active Western Region Tourism has rebounded by nearly 50%, and Lingnan Holdings, Junting Hotel, and Lijiang Co., Ltd. have all risen by more than 30%.
Regarding the future market, Oriental Securities pointed out that although the epidemic has caused a major impact on the industry's recovery, due to the sector pricing, the sub-industry performance is more considered after the epidemic, and the sub-industry performance is tax-free for scenic spots in hotels and catering in this year.
looks forward to the second half of the year. As the epidemic stabilizes, travel passenger flow has gradually recovered since June. However, considering the complexity of the epidemic and the short-term epidemic prevention policies will remain strict, and residents' consumption power will also be impacted. The bank believes that under the optional + offline attributes, the industry will still maintain a weak recovery trend.
Author: Hong Xiaodou
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