Core Viewpoint - The tourism and scenic spots sector experienced a slight increase of 0.48% on December 31, with Caesar Travel leading the gains. The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1]. Group 1: Stock Performance - Caesar Travel (000796) closed at 7.20, up 6.04%, with a trading volume of 1.89 million shares and a transaction value of 1.332 billion yuan [1]. - Other notable performers included ST Zhanggu (000430) at 7.76, up 2.51%, and Guilin Tourism (000978) at 7.24, up 2.26% [1]. - The overall trading volume and transaction values for various stocks in the tourism sector indicate active market participation, with total transaction values reaching billions [1]. Group 2: Capital Flow - The tourism and scenic spots sector saw a net outflow of 105 million yuan from main funds, while retail investors contributed a net inflow of 103 million yuan [2]. - The data indicates that while institutional investors withdrew funds, retail investors were more active in purchasing stocks within the sector [2]. - Specific stocks like Caesar Travel had a significant net inflow from retail investors, despite a net outflow from main funds [3].

Core Viewpoint - The Hainan Free Trade Zone sector experienced a short-term surge on December 31, with Hainan Development hitting the daily limit, and other companies such as Haikou Gas Group, Hainan Airport, Hainan Huatie, Caesar Travel, and Hainan Mining also seeing gains [1]. Company and Industry Summary - Hainan Development reached its daily limit increase [1] - Haikou Gas Group, Hainan Airport, Hainan Huatie, Caesar Travel, and Hainan Mining followed with notable increases [1]

Core Insights - The official launch of the Hainan Free Trade Port on December 18, 2025, marks a transition from preparation to implementation, with significant policy benefits expected in 2026, which is seen as a historic investment opportunity [1][2] - The Hainan Free Trade Port theme received a score of 61.25 based on eight dimensions, with 23 beneficiary stocks selected to form the Hainan Free Trade Port stock pool, which has outperformed the Wind All A index by 17.8% since the end of 2024 [4][3] Policy Foundation - The Hainan Free Trade Port is built on the "One Law and Three Core" principles, including "one line open, two lines controlled, and free flow within the island," which aims to enhance economic dynamism through a policy framework of "zero tariffs, low tax rates, and simplified tax systems" [2][13] - The "zero tariff" policy has shifted from a positive list to a negative list management approach, expanding the range of goods eligible for zero tariffs [16] Investment Opportunities in Core Industries - The free flow of production factors is expected to reshape Hainan's industrial structure, with tourism, cross-border logistics and finance, and new productive forces in commercial aerospace and deep-sea economy identified as the primary beneficiaries of policy dividends [3][18] - The tourism sector is transitioning from "duty-free on departure" to a "whole island consumption" model, enhancing the attractiveness of Hainan for both domestic and international consumers [21][19] - Cross-border logistics and finance are positioned to benefit from higher levels of openness, with Hainan becoming a hub for offshore trade and digital trade [30][32] - New productive forces are expected to thrive in Hainan's unique geographical and policy environment, particularly in commercial aerospace and deep-sea technology [38][40] Hainan Free Trade Port Theme Evaluation - The theme evaluation score of 61.25 reflects high scores in policy effectiveness, support intensity, and industry coverage, indicating a favorable investment environment [45][46] - The evaluation criteria include market capitalization, policy effectiveness, support intensity, industry coverage, valuation levels, trading congestion, performance realization capability, and future growth potential [46][47] Hainan Free Trade Port Stock Pool - The stock pool is constructed based on three dimensions: tourism, cross-border logistics, and new productive forces, providing a selection of stocks that could benefit from the Hainan Free Trade Port policies [48][49] - Specific sectors within the stock pool include duty-free retail, healthcare tourism, and experiential cultural tourism, which are expected to see significant growth [22][23][26] Hainan Free Trade Port Index - The Hainan Free Trade Port Index, based on the selected stocks, has shown a significant increase of 43.02% from December 31, 2024, to December 26, 2025, outperforming the Wind All A index by 17.8% [54][55]

证券代码：000796 证券简称：凯撒旅业 公告编号：2025-077 凯撒同盛发展股份有限公司 关于参与张家界旅游集团股份有限公司重整投资的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 三、备查文件 《证券过户登记确认书》。 特此公告。 凯撒同盛发展股份有限公司 2025 年 12 月 31 日 一、重整投资情况概述 凯撒同盛发展股份有限公司（以下简称"公司"）与广州海纳资产运营有限 公司组成联合体，作为产业投资人参与张家界旅游集团股份有限公司（以下简称 "张旅集团"）重整投资，并于 2025 年 11 月 13 日签署了《重整投资协议》，公 司和广州凯撒海纳投资合伙企业（有限合伙）（以下简称"凯撒海纳"）将作为 产业投资人认购张旅集团根据《重整计划》通过实施资本公积转增股本所产生的 800 万股股票，每股对价为 3.96 元，其中，公司受让股票总对价为 1,584 万元， 受让股票数量为 400 万股；凯撒海纳受让股票总对价为 1,584 万元，受让股票数 量为 400 万股。具体内容详见公司于 2025 年 11 月 15 日披露的《关于参与 ...

Group 1 - The tourism and scenic spots sector experienced a decline of 0.3% on December 30, with Caesar Travel leading the drop [1] - The Shanghai Composite Index closed at 3965.12, down 0.0%, while the Shenzhen Component Index closed at 13604.07, up 0.49% [1] - Notable stock performances included *ST Zhang Gu with a rise of 4.99% and Caesar Travel with a decline of 6.47% [2] Group 2 - The tourism and scenic spots sector saw a net outflow of 40.71 million yuan from major funds, while retail investors had a net inflow of 98.03 million yuan [2] - Key stocks with significant net inflows from retail investors included Changzi Mountain and Zhongqing Travel, while major funds showed outflows in several stocks [3] - The trading volume for Caesar Travel was 1.8435 million shares, with a transaction value of 1.274 billion yuan [2]

每经AI快讯，12月30日，离境退税指数盘中下跌2%，成分股整体表现疲软。东百集团跌8%，中百集团 下跌5.3%，南宁百货、厦门港务、凯撒旅业均跌超3%。 （文章来源：每日经济新闻） ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000796 | 凯撒旅业 | 7.26 | -3.97% | 217.12万 | 16.12亿 | | 600576 | 祥源文旅 | 6.39 | -3.18% | 57.00万 | 3.65亿 | | 600593 | 大连圣亚 | 40.68 | -2.68% | 4.75万 | 1.95亿 | | 6602099 | 长自山 | 44.90 | -2.22% | 6.89万 | 3.10亿 | | 000524 | 岭南控股 | 12.03 | -2.04% | 9.85万 | 1.19亿 | | 000888 | 峨眉山Ａ | 12.87 | -1.98% | 15.91万 | 2.05亿 | | 600706 | 曲江文旅 | 10.76 | -1.82% | 15.76万 | 1.69 Z | | 002159 | 三特索道 | 15.45 | -1.65% | 3.62万 | 5610.37万 | | 002707 | 众信旅游 ...

截至12月26日收盘，凯撒旅业报收于7.56元，上涨2.86%，换手率21.28%，成交量283.24万手，成交额 21.41亿元。 本报记者 张蓓 陈炳衡 北京报道 日前，记者观察到，受海南自贸港封关运作启动后的政策利好持续影响，凯撒旅业（股票代码： 000796.SZ）于12月24日涨停，涨停价7.84元，涨幅9.96%，然而，减持消息接踵而至。凯撒旅业于2025 年12月25日公告，其第三大股东中国金谷国际信托有限责任公司（下称：金谷信托）计划再度减持不超 过公司总股本3%的股份。这是该股东在近一年内发起的第二轮减持，此前其已于2025年9月完成一轮小 幅减持。受此消息影响，公司股价当日跌幅达6.25%。 尽管面临持续的股东减持压力与业绩亏损，截至发稿，凯撒旅业股价在2025年全年仍录得86.67%的显 著涨幅，短期基本面及筹码压力并不能反映市场对其长期行业复苏前景的期待。12月26日，凯撒旅业对 《华夏时报》记者表示，股东减持系公司股东基于自身资金需求及财务安排进行的。公司基于深交所信 息披露相关规则，在接到股东减持计划告知函后，及时履行信息披露程序。 股东减持的公告一经发布，资本市场立刻给出了负面反 ...

Group 1 - Hainan Airlines (600221) focuses on international, domestic, and regional air passenger and cargo transportation, operating nearly 1800 routes and covering all provinces in China, as well as over 100 international routes [1][30] - Hainan Airport (600515) operates major airports in Hainan and is involved in airport construction, management, and related industries, including aircraft maintenance and logistics [2][31] - Zhongtung High-tech (000657) is a state-owned enterprise focusing on the tungsten and hard alloy industry, with a complete industrial chain from tungsten ore to products, and is involved in high-end manufacturing sectors [3][32] Group 2 - Jinpan Technology (688676) is a key player in the new energy sector, specializing in the research and manufacturing of power distribution and control equipment, benefiting from supportive policies in Hainan [4][33] - Haixia Co., Ltd. (002320) controls important maritime transport routes, enhancing its passenger and cargo transport services, and is positioned to benefit from increased demand post-border closure [5][34] - Hainan Mining (601969) focuses on mineral resource extraction and processing, with products supporting the new energy battery industry, and is exploring green development models [6][35] Group 3 - Hainan Rubber (601118) is a leading enterprise in natural rubber production, extending its business into rubber products and international trade, leveraging Hainan's free trade policies [7][36] - Guangsheng Nonferrous (600259) specializes in non-ferrous metal mining and smelting, with a focus on rare earths and tungsten, essential for high-end manufacturing and new energy sectors [8][37] - Haima Automobile (000572) is transitioning into the new energy vehicle sector, supported by Hainan's policies, and is expanding its production capabilities [9][38] Group 4 - Haide Co., Ltd. (000567) focuses on distressed asset management, with a strategy to optimize asset allocation in the region, and is involved in photovoltaic projects [10][39] - Hainan Public Transport Group (603069) provides passenger transport services and is enhancing its operations through the integration of duty-free services [11][40] - Junda Co., Ltd. (002865) is engaged in the new energy sector, focusing on photovoltaic battery research and manufacturing, and is expanding its market presence [12][41] Group 5 - Luoniushan (000735) is involved in livestock farming and related industries, leveraging Hainan's agricultural resources to expand its market [13][42] - Jingliang Holdings (000505) focuses on oil processing and food manufacturing, utilizing Hainan's logistics advantages for trade [14][43] - Hainan Coconut Island (600238) specializes in alcoholic beverages, particularly health wines, and is expanding its market through tourism channels [15][44] Group 6 - Hainan Haiyao (000566) is a pharmaceutical manufacturer focusing on chemical raw materials and traditional Chinese medicine, benefiting from supportive policies for the pharmaceutical industry [16][45] - Hainan Ruize (002596) produces construction materials and is involved in tourism, aligning its business with Hainan's infrastructure development [17][46] - Hainan Expressway (000886) operates key highways in Hainan and is expanding its business through tourism and duty-free services [18][47] Group 7 - Puli Pharmaceutical (300630) specializes in chemical drug development and international market expansion, leveraging Hainan's trade policies [19][48] - Shennong Technology (300189) focuses on seed research and production, aiming to expand its market through trade policies [20][49] - Shuangcheng Pharmaceutical (002693) is dedicated to peptide drug development and international market expansion, supported by Hainan's policies [21][50] Group 8 - Xinlong Holdings (000955) specializes in non-woven fabrics and related products, with a focus on medical and industrial applications, and is exploring export opportunities [22][51] - ST Intercontinental (600759) is involved in oil and gas exploration and is expanding into the hydrogen energy sector [23][52] - Huawen Group (000793) operates in media, tourism, and supply chain services, aiming for growth through Hainan's logistics advantages [24][53]

2、相关定期报告存在重大遗漏。 3、"17凯撒03"债券相关定期报告存在重大遗漏。 上海久诚律师事务所股票索赔律师许峰提示，凯撒旅业（维权）（000796）虚假陈述引发的投资者索赔 案还在还在继续推进，如果投资者因此受损，目前还可发起索赔。凯撒旅业虚假陈述引发的投资者索赔 案已有投资者胜诉先例。（牛彬律师专栏） 2024年9月28日，凯撒旅业公告收到海南证监局《行政处罚决定书》，经查明，凯撒同盛存在以下违法 事实： 2020年1月至2022年12月，凯撒同盛通过资金拆借、应收款项被关联方代收、代关联方支付费用、委托 贷款、没有真实商业背景的股权投资及预付款项、保理放款等形式，与凯撒世嘉及其关联方发生非经营 性资金占用。截至2023年12月底，凯撒同盛上述资金占用情况已完成整改。具体违规包括： 1、未及时披露关联方非经营性资金占用。 专门从事股票索赔法律事务的上海久诚律师事务所主任许峰律师认为，在2020年1月8日到2023年9月5日 之间买入凯撒旅业股票，且在2023年9月5日后卖出或继续持有股票的投资者，目前还可发起索赔。（凯 撒旅业维权入口） （本文由上海久诚律师事务所主任许峰律师供稿，不代表新浪财经立场 ...