证券之星消息，10月27日旅游及景区板块较上一交易日上涨0.57%，大连圣亚领涨。当日上证指数报收于 3996.94，上涨1.18%。深证成指报收于13489.4，上涨1.51%。旅游及景区板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600593 | 大连圣亚 | 49.80 | 6.68% | 17.21万 | 8.43亿 | | 600749 | 西藏旅游 | 18.58 | 1.75% | 9.79万 | 1.81亿 | | 002033 | 配江股份 | 8.72 | 1.40% | 20.06万 | 1.75亿 | | 000524 | 岭南控股 | 13.81 | 0.95% | ● 15.67万 | 2.15亿 | | 000796 | 凯撒旋业 | 6.14 | 0.82% | 74.91万 | 4.61亿 | | 000430 | ST张家界 | 7.84 | 0.77% | 7.20万 | 5645.08万 | | 661809 | 九华旅游 | 3 ...

国盛证券发布研报称，据美团旅行数据显示，10月中旬以来，"室外滑雪场"搜索量同比上涨近900%， 开板较早的可可托海国际滑雪度假区搜索量上涨279%，哈尔滨冰雪大世界景区日均搜索量环比上涨近 163%。正值Q4雪季启动之际，建议关注冰雪旅游概念标的。春秋游方面，在扩大服务消费政策鼓励 下，各地中小学春秋假即将落地，春秋假带来的5天小长假，叠加各地景区优惠，有望给传统出游淡季 带来新机遇。 国盛证券主要观点如下： 冰雪旅游热度升温，概念行情启动 11月作为传统旅游淡季，多景区推出优惠举措 据各景区官方，长白山2025年10月15日-11月30日，面向东三省在读大学生有专属免票优惠，面向所有 游客购买北景区或西景区任意一张门票，可在3日内0元购另一景区门票；黄山风景区游客凭2025年10- 11月已核销入园的门票信息可获得2025年12月1日-2026年1月31日期间免门票再玩一次的机会；峨眉山 2025年10月9日-11月30日对在读全日制学生提供门票优惠价40元/人。 春秋假叠加景区优惠，有望提振淡季出游表现 10月15日，岭南集团旗下广之旅宣布，推出"跟着课本去旅行"主题系列产品，并同步上线近20条面向学 ...

下半年以来，中际旭创上涨239.03%，排在涨幅榜首位；阳光电源上涨145.06%，居次席；澜起科技、 亿纬锂能、兆易创新涨逾70%；我武生物上涨60.36%；科沃斯（603486）、中微公司、宁德时代、中兴 通讯、中芯国际涨逾50%；药明康德、安集科技涨逾40%；盐湖股份、达仁堂（600329）、芒果超媒 （300413）、长白山涨逾30%；沪硅产业、上海家化（600315）、国瓷材料、北方华创、恒瑞医药 （600276）等多只成分股涨逾20%。 □本报记者 王宇露 上周市场反弹，中证新华社民族品牌工程指数上涨4.14%，报2037.67点。中际旭创（300308）、视源股 份（002841）、阳光电源（300274）等成分股上周表现强势；下半年以来，中际旭创、阳光电源、澜起 科技等成分股涨幅居前。展望后市，机构认为，短期受不确定性因素影响，市场或维持震荡格局；中期 来看，上涨行情的核心逻辑未变。 多只成分股表现强势 上周市场反弹，上证指数上涨2.88%，深证成指上涨4.73%，创业板指上涨8.05%，沪深300指数上涨 3.24%，品牌工程指数上涨4.14%，报2037.67点。 上周品牌工程指数多只成分 ...

证券研究报告 | 行业周报 gszqdatemark 2025 10 26 年 月 日 社会服务 冰雪旅游热度升温，春秋假有望提振淡季出游 冰雪旅游热度升温，概念行情启动 冰雪经济规模将破万亿，政策效应显现。2024 年 10 月，国务院办公厅印 发《关于以冰雪运动高质量发展激发冰雪经济活力的若干意见》，指出到 2027 年，冰雪经济总规模达到 1.2 万亿元，到 2030 年达到 1.5 万亿元。 据新华社，意见出台后从 2024 年 11 月 1 日至 2025 年 2 月 4 日，全国 31个省（区、市）934个滑雪场累计接待客流 1.51亿人次/同比增长 27.8%。 2025Q4 冰雪旅游热度已升温。美团旅行数据显示，10 月中旬以来，"室 外滑雪场"搜索量同比上涨近 900%，开板较早的可可托海国际滑雪度假 区搜索量上涨 279%，哈尔滨冰雪大世界景区日均搜索量环比上涨近 163%。同程旅行数据显示，可可托海国际滑雪度假区新雪季开启后，阿 勒泰地区的酒店预订热度同比增长超 35%，以阿勒泰地区为目的地的国 内机票预订热度同比增长超过 65%。 冰雪旅游概念行情启动。万得冰雪旅游概念指数本周（10. ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000430 | ST张家界 | 7.78 | 2.50% | 6.32万 | - 4869.86万 | | 661809 | 九华旅游 | 35.82 | 0.00% | 1.44万 | 5146.64万 | | 600054 | 黄山旅游 | 11.35 | -0.26% | 4.23万 | 4806.49万 | | 600138 | 中青旅 | 9.71 | -0.51% | ﻟ 9.40万 | 9139.95万 | | 603136 | 天目湖 | 11.50 | -0.61% | 3.30万 | 3808.21万 | | 300144 | 宋城演艺 | 8.12 | -0.61% | 22.80万 | 1.85亿 | | 000888 | 峨眉山Ａ | 12.44 | -0.72% | 5.72万 | 7128.26万 | | 002059 | 云南旅游 | 5.53 | -0.90% | 27.55万 | 1.53亿 | | 00203 ...

Core Viewpoint - The phenomenon referred to as "Hai Hao" is actually a type of evaporation fog, not a new atmospheric phenomenon, resulting from a significant temperature difference between cold air and warmer water surfaces [4][9]. Group 1: Definition and Origin - "Hai Hao" is a term that originated from local dialects in Dalian, first reported in November 2015, and is not officially documented [4][7]. - The term describes a natural occurrence where cold air flows over warmer water, leading to the formation of fog [9]. Group 2: Weather Conditions and Occurrences - The phenomenon has been observed in various locations, including Changbai Mountain, Qingdao, and Dalian, particularly during cold weather conditions [4][5]. - Specific weather conditions necessary for the formation of this fog include a temperature difference of over 20°C between the air and water [8][9]. Group 3: Expert Insights - Experts from the Ocean University of China emphasize that "Hai Hao" is not a new atmospheric phenomenon but rather a well-known occurrence of evaporation fog under specific climatic conditions [6][9]. - The phenomenon is likened to the steam rising when boiling water, illustrating the visual similarity of the fog formation [9].

Market Overview - A-shares experienced fluctuations with a decrease in trading volume, totaling 1.06 trillion yuan, down 39.3 billion yuan from the previous trading day, with over 3,800 stocks declining [1] Sector Performance - The coal sector showed resilience, with major stocks like Dayou Energy hitting the limit up for the eighth consecutive day, and others like Zhengzhou Coal Power and Liaoning Energy achieving two limit ups in four days [1][3] - Local stocks in Shenzhen surged, with companies such as Jian Ke Yuan and Guangtian Group reaching limit up [2] - The computing hardware sector faced significant declines, particularly in CPO concept stocks, with Tianfu Communication and Changfei Optical Fiber experiencing substantial drops [1] Ice and Snow Industry - The ice and snow industry concept stocks saw rapid increases, with Dalian Shengya achieving two limit ups in four days, driven by a strong cold air mass affecting temperatures across the country [4] - A report indicated that the scale of China's ice and snow industry is expected to exceed 1 trillion yuan by 2025, reaching 1,005.3 billion yuan [4] Media Sector - The media and short drama sectors showed strength, with Hai Kan Co. and Huanrui Century hitting limit up, and several stocks rising over 3% [5] - iQIYI announced a new cooperation plan for short dramas, offering a revenue-sharing model with a 70% exclusive share and a 50% non-exclusive share [5] Banking Sector - The banking sector opened strong but later saw a narrowing of gains, with Postal Savings Bank rising over 4% [6] - Guotai Junan Securities projected a 0.4% and 1.1% year-on-year growth in revenue and net profit for listed banks in the first three quarters of 2025, respectively, with city commercial banks expected to lead in performance growth [6] - CITIC Securities highlighted that the fourth quarter of 2025 may present a key opportunity for dividend stock positioning, as current pessimistic expectations may have been fully reflected [6]

Market Overview - On October 23, A-shares experienced fluctuations and adjustments, with trading volume shrinking again, totaling 1.06 trillion yuan, a decrease of 39.3 billion yuan compared to the previous trading day. Over 3,800 stocks declined [1] - The Shanghai Composite Index closed at 3,888.08, down 25.67 points or 0.66%, while the Shenzhen Component Index fell by 112.71 points or 0.87% [2] Sector Performance - The coal sector showed resilience, with major stocks like Daqo Energy hitting the limit up for eight consecutive trading days, and several stocks such as Zhengzhou Coal and Electricity and Liaoning Energy achieving two limit-ups in four days [2] - Conversely, the computing hardware sector faced significant declines, particularly CPO concept stocks, with Tianfu Communication and Changfei Optical Fiber experiencing substantial drops [3] Local Market Developments - Shenzhen local stocks surged, with companies like Jian Ke Yuan, Guangtian Group, and Shen Saige hitting the limit up, leading to a collective rise in local stocks [3] - A new action plan was issued by Shenzhen to promote high-quality mergers and acquisitions, aiming for a total market value of listed companies to exceed 20 trillion yuan by the end of 2027, and to complete over 200 merger projects with a total transaction value exceeding 100 billion yuan [5] Industry Trends - The ice and snow industry concept stocks saw rapid increases, with Dalian Shengya achieving two limit-ups in four days, alongside other stocks like Changbai Mountain and Sanfu Outdoor rising [6] - The media and short drama sectors continued to strengthen, with stocks like Haikan Co. and Huanrui Century hitting the limit up, while several others rose over 3% [6] Banking Sector Insights - The banking sector opened strong but later narrowed gains, with Postal Savings Bank rising over 4% and other banks like Industrial Bank and Minsheng Bank following suit [8] - According to Guotai Junan Securities, the cumulative revenue and net profit of listed banks are expected to grow by 0.4% and 1.1% year-on-year, respectively, in the first three quarters of 2025, driven by a narrowing decline in net interest margins and reduced credit costs [9] Investment Strategy - CITIC Securities indicated that the fourth quarter of 2025 may be a critical time for bottom-fishing dividend stocks to achieve excess returns, as current pessimistic expectations may have been fully reflected in the market [10]

Group 1 - The core point of the article highlights the recent performance of Changbai Mountain Tourism Co., Ltd., which saw a stock price increase of 5.78%, reaching 52.88 CNY per share, with a trading volume of 680 million CNY and a turnover rate of 4.96%, resulting in a total market capitalization of 14.102 billion CNY [1] - Changbai Mountain Tourism Co., Ltd. is located in the Changbai Mountain Protection and Development Zone, Jilin Province, and was established on December 8, 2010, with its listing date on August 22, 2014. The company primarily operates in the tourism service industry, including tourist transportation, travel agency services, and hot spring water development and utilization [1] - The revenue composition of the company is as follows: tourist transportation accounts for 66.82%, hotel business 24.09%, other businesses 6.82%, and travel agency services 2.28% [1] Group 2 - From the perspective of major fund holdings, data shows that one fund under Dongfang Fund has a significant position in Changbai Mountain. The Dongfang New Emerging Growth Mixed Fund (400025) held 66,000 shares in the second quarter, representing 2.69% of the fund's net value, ranking as the ninth largest holding [2] - The estimated floating profit from this position today is approximately 190,700 CNY [2] - The Dongfang New Emerging Growth Mixed Fund (400025) was established on September 3, 2014, with a latest scale of 93.4732 million CNY. Year-to-date returns are 6.52%, ranking 6365 out of 8159 in its category; the one-year return is 1.7%, ranking 7527 out of 8030; and since inception, the return is 39.78% [2]

截至6月30日，长白山股东户数3.66万，较上期减少24.52%；人均流通股7289股，较上期增加32.48%。 2025年1月-6月，长白山实现营业收入2.35亿元，同比减少7.44%；归母净利润-205.13万元，同比减少 109.75%。 分红方面，长白山A股上市后累计派现1.44亿元。近三年，累计派现4253.39万元。 10月22日，长白山跌1.79%，成交额6.35亿元。两融数据显示，当日长白山获融资买入额7736.96万元， 融资偿还5691.02万元，融资净买入2045.94万元。截至10月22日，长白山融资融券余额合计3.65亿元。 融资方面，长白山当日融资买入7736.96万元。当前融资余额3.64亿元，占流通市值的2.73%，融资余额 超过近一年90%分位水平，处于高位。 融券方面，长白山10月22日融券偿还200.00股，融券卖出2300.00股，按当日收盘价计算，卖出金额 11.50万元；融券余量1.25万股，融券余额62.49万元，超过近一年90%分位水平，处于高位。 资料显示，长白山旅游股份有限公司位于吉林省长白山保护开发区池北区(白林西区和平街)，成立日期 2010年12月8日 ...