股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 同程旅行控股有限公司 呈交日期: 2026年1月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00780 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,000,000,000 | USD | | 0.0005 | USD | | 1,500,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,000,000,000 | USD | | 0.0005 | USD | | 1,500,000 | 本月底法定/註 ...

Core Viewpoint - The Hong Kong tourism sector stocks experienced a collective rise, indicating positive market sentiment towards the industry [1] Group 1: Stock Performance - Tongcheng Travel (00780.HK) increased by 5.02%, reaching HKD 23.86 [1] - Trip.com Group (09961.HK) rose by 4.08%, trading at HKD 600 [1] - Huazhu Group (01179.HK) saw a gain of 4.01%, priced at HKD 38.36 [1] - Meituan-W (03690.HK) grew by 1.42%, with a share price of HKD 106.9 [1]

智通财经APP获悉，旅游概念股集体走高，截至发稿，同程旅行(00780)涨5.02%，报23.86港元；携程集 团-S(09961)涨4.08%，报600港元；华住集团-S(01179)涨4.01%，报38.36港元；美团-W(03690)涨 1.42%，报106.9港元。 国家移民管理局报告显示，元旦假期期间日均出入境人次达220万人次，按年增长28.6%，较2019年水 平高约28%，其中内地居民出境人次按年增长39.1%。花旗发布研报称，2026年元旦国内出游表现平 稳，但跨境旅游人次表现稳健。然而该行认为即将到来的春节更为重要，并预期表现将较为强劲，因为 2026年春节假期为9天，较2025年多一天。 消息面上，经文化和旅游部数据中心测算，元旦假期3天，全国国内出游1.42亿人次、较2024年元旦假 期增长5.2%，国内出游总花费847.89亿元、较2024年元旦假期增长6.3%，人均消费较2024年元旦假期增 长1.1%，冬季特色供给丰富，冰雪游、避寒游、跨年游人气旺盛。 ...

旅游概念股集体走高，截至发稿，同程旅行(00780)涨5.02%，报23.86港元；携程集团-S(09961)涨 4.08%，报600港元；华住集团-S(01179)涨4.01%，报38.36港元；美团-W(03690)涨1.42%，报106.9港 元。 国家移民管理局报告显示，元旦假期期间日均出入境人次达220万人次，按年增长28.6%，较2019年水 平高约28%，其中内地居民出境人次按年增长39.1%。花旗发布研报称，2026年元旦国内出游表现平 稳，但跨境旅游人次表现稳健。然而该行认为即将到来的春节更为重要，并预期表现将较为强劲，因为 2026年春节假期为9天，较2025年多一天。 消息面上，经文化和旅游部数据中心测算，元旦假期3天，全国国内出游1.42亿人次、较2024年元旦假 期增长5.2%，国内出游总花费847.89亿元、较2024年元旦假期增长6.3%，人均消费较2024年元旦假期增 长1.1%，冬季特色供给丰富，冰雪游、避寒游、跨年游人气旺盛。 ...

Core Insights - The overall cultural and tourism market in China during the 2026 New Year holiday was stable and orderly, with significant consumer activity [1][2] - Domestic travel reached 142 million trips, generating a total expenditure of 84.789 billion yuan [1][2] - Popular travel trends included family trips, small town tourism, and outbound travel, contributing to a strong start for the tourism market [1][2] Domestic Travel Trends - Data from Qunar indicated a 26% year-on-year increase in flight bookings to popular destinations on January 1, with hotel occupancy in domestic hotspots rising by 120% [3] - Consumer spending power increased, with a more than 20% rise in the number of items purchased per person and over 30% growth in average spending [3] - Family travel saw an 80% increase in participation, with families preferring high-star hotels and full-service resorts [3] - Small town tourism remained popular, with significant order growth for destinations like Anji (930%), Qingyuan (774%), and others [3] Outbound Travel Growth - There was a notable increase in outbound travel compared to the previous year, with a 40% rise in the number of travelers visiting popular countries [4] Hainan Tourism Surge - Hainan experienced a significant increase in tourism during the New Year holiday, marking the first holiday after its border reopening [5] - The province welcomed 2.1716 million visitors, a 25.2% increase year-on-year, with total tourism expenditure reaching 3.136 billion yuan, up 28.9% [5] - Duty-free shopping in Hainan saw a remarkable rise, with sales of duty-free goods increasing by 52.4% and total spending reaching 712 million yuan, a 128.9% increase [5][6] International Visitor Trends - The New Year holiday attracted more foreign tourists to China, with a 110% increase in ticket bookings for inbound tourism [7] - Popular destinations for international visitors included major cities like Shanghai, Beijing, and Shenzhen, with significant growth in Hainan [7] - The "duty-free shopping + beach vacation" model has become a key attraction for international tourists, with inbound orders for Sanya increasing by 170% [7]

Core Insights - The travel demand during the New Year holiday in 2026 was significantly boosted by a three-day holiday combined with a "take 3 days off for 8 days" vacation trend, leading to increased bookings for flights, hotels, and homestays [1] Group 1: Domestic Travel Trends - The domestic travel market during the New Year holiday exhibited a pattern of "short-distance micro-vacations + long-distance north-south exchanges," with short trips within city clusters like Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta being particularly popular [2] - Ice and snow tourism dominated the holiday, accounting for about 40% of the top 20 domestic flight routes, with popular routes including Shanghai to Harbin and Guangzhou to Harbin [2] - Hainan's tourism was significantly boosted by its island-wide customs closure policy, with a 76% increase in flight bookings to and from its three major airports during the holiday [2] Group 2: Cultural and Unique Experiences - Tourists are increasingly seeking out less crowded, unique destinations for New Year celebrations, with places like Wuyuan and Nanjing experiencing a surge in popularity due to special events like drone shows and cultural performances [3] - The Nanjing Niushoushan Cultural Tourism Area saw a 43.70% year-on-year increase in visitor numbers, showcasing the effectiveness of innovative product offerings and unique activities in attracting tourists [3] - Non-heritage themed tourism saw an 85% increase in search and booking activity during the holiday, with cities like Luoyang and Xi'an becoming top destinations for traditional cultural experiences [3] Group 3: Concert-Driven Travel - The trend of traveling to cities for concerts continued to rise, with cities like Guangzhou and Wuhan hosting major performances that attracted many fans, leading to increased hotel bookings in those areas [4] Group 4: Outbound Travel Growth - The "take 3 days off for 8 days" vacation model significantly increased outbound travel interest during the New Year holiday, with themes like "island summer" and "Nordic aurora chasing" becoming popular [5] - Emerging destinations such as Serbia and Georgia gained attention, with a notable increase in bookings for vacation products to these less conventional countries [5] Group 5: Demographics of Travelers - Young adults aged 25-45 and family units are the primary demographic for outbound travel, showing a willingness to pay for quality travel experiences and detailed itineraries [6]

花旗认为2026年元旦国内出游表现平稳，但跨境旅游人次表现稳健。然而该行认为即将到来的春节更为 重要，并预期表现将较为强劲，因为2026年春节假期为9天，较2025年多一天。维持对携程-S(09961)和 同程旅行(00780)的"买入"评级。 智通财经APP获悉，花旗发布研报称，文旅部报告显示，2026年元旦内地3天假期，内地旅游人次及收 入分别达到1.42亿人次和847.9亿元人民币(下同)，相较2024年的3天假期(2025年元旦仅为1天假期)，两 年复合年增长率分别为2.6%和3.1%;人均消费录得597元，较2024年水平下降1%。 国家移民管理局报告显示，元旦假期期间日均出入境人次达220万人次，同比增长28.6%，较2019年水 平高约28%，其中内地居民出境人次同比增长39.1%。 ...

Core Viewpoint - Citigroup's report indicates that the Ministry of Culture and Tourism forecasts 142 million domestic tourist trips and revenue of 84.79 billion yuan during the three-day New Year holiday in 2026, representing a compound annual growth rate of 2.6% and 3.1% respectively compared to the three-day holiday in 2024 [1] Group 1 - The average spending per person is recorded at 597 yuan, which is a 1% decrease compared to the 2024 level [1] - Citigroup believes that domestic travel performance during the New Year is stable, while cross-border travel shows robust growth [1] - The upcoming Spring Festival is expected to be more significant, with a strong performance anticipated due to a nine-day holiday in 2026, one day longer than in 2025 [1] Group 2 - Citigroup maintains a "buy" rating for Trip.com and Tongcheng Travel [1]

Group 1 - The central economic work conference in 2025 prioritizes "boosting consumption and improving investment efficiency, comprehensively expanding domestic demand" as a key task [3] - A comprehensive package of consumption-boosting policies has been continuously enhanced from the central to local levels, including a special long-term bond fund of 300 billion yuan allocated for supporting the replacement of consumer goods [3] - Financial policies are encouraging financial institutions to increase personal consumption loan offerings, with many institutions introducing zero-interest installment plans and low-interest loans to lower payment thresholds for consumer goods [3] Group 2 - The "2025 Benchmark Award for Boosting Consumption" was awarded to Tongcheng Network Technology Co., Ltd. and Hunan Mingming Henmang Commercial Chain Co., Ltd. for their significant contributions to consumer market stimulation [4] - Mingming Henmang achieved a GMV of 41.1 billion yuan in the first half of 2025, demonstrating rapid growth in revenue and profit through its snack wholesale model [4] - Tongcheng Travel has effectively driven the recovery of cultural and tourism consumption by innovating travel services and optimizing travel experiences [4]

Group 1 - The report from Tongcheng Travel indicates a strong demand for travel during the New Year holiday, driven by the "take 3 days off and rest for 8" trend, leading to an increase in bookings for flights, hotels, and homestays [1] - There was an 85% increase in the search and booking of "intangible cultural heritage" themed tourism during the holiday, with Suzhou ranking among the top 10 popular destinations for such travel [1] - The trend of high-quality travel experiences is evident, with a significant rise in bookings for premium hotels, boutique homestays, and customized small group tours during the New Year holiday [1] Group 2 - The popularity of mountain scenic spots for New Year blessings has surged, with a more than 23% increase in bookings for hotels and homestays within these areas [2] - Young travelers are increasingly opting for beach destinations for New Year celebrations, with a 38% rise in bookings for boutique homestays featuring sea views [2] - Concerts by well-known artists during the holiday attracted many fans, leading to a noticeable increase in hotel bookings near concert venues [2] Group 3 - The heat for outbound travel during the New Year holiday has significantly surpassed previous years, with popular themes including island vacations and destinations with visa-free access [3] - Young adults aged 25 to 45 and family groups are the primary consumers of outbound travel, willing to pay a premium for detailed itineraries and immersive experiences [3] - The growth rate of outbound travel orders from non-first-tier cities is accelerating, with Turkey's visa exemption policy further simplifying travel for Chinese tourists [3][4]