Market Overview - The three major A-share indices collectively declined, with the Shanghai Composite Index down 0.64% to 4075 points, the Shenzhen Component Index down 1.44%, and the ChiNext Index down 1.55% [1][2] - The total market turnover was 2.19 trillion yuan, a decrease of 309 billion yuan compared to the previous trading day, with over 3700 stocks declining [1] Sector Performance - Precious metals stocks experienced significant declines, with Hunan Silver and Sichuan Gold dropping over 9%, and Xiaocheng Technology falling more than 10% [4][5] - The space photovoltaic concept stocks entered a "cooling period," with several stocks, including Junda Co. and Shuangliang Energy, hitting the daily limit down [2][6] - Lithium mining stocks also saw collective declines, with Ganfeng Lithium and Tianqi Lithium both dropping over 6% [7][8] - The tourism sector showed strength, with Sanxia Tourism hitting the daily limit up and Shaanxi Tourism rising over 8% [9][10] - New retail concept stocks were active, with companies like Huangting Hotel and Maoye Commercial hitting the daily limit up [11][12] - Bank stocks performed well, with Xiamen Bank hitting the daily limit up and Chongqing Bank rising over 5% [13] Key Stock Movements - Notable declines in precious metals included Xiaocheng Technology at -10.20%, Hunan Silver at -9.97%, and Sichuan Gold at -9.79% [5] - In the space photovoltaic sector, significant drops included Optech at -12.51% and Jiejia Weichuang at -12.39% [6] - Lithium stocks saw Ganfeng Lithium at -6.31% and Tianqi Lithium at -6.27% [8] - In the tourism sector, Sanxia Tourism rose by 10% and Shaanxi Tourism by 8.57% [10] - New retail stocks like Huangting International rose by 10.11% and Maoye Commercial by 10.04% [12] - Bank stocks showed strong performance with Xiamen Bank at +9.99% and Chongqing Bank at +5.73% [13]

Market Overview - The A-share market saw a narrowing of declines in the afternoon, with the three major indices initially dropping over 1%, and the North Securities 50 Index falling over 2% [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.18 trillion, a decrease of 304.8 billion compared to the previous trading day [1][7] - A total of over 3,700 stocks in the market experienced declines, indicating a broad market downturn [1] Sector Performance - The consumer sector experienced significant gains, with food and beverage, retail, film and television, and tourism sectors showing active performance. Notable stocks included Hengdian Film, which achieved five consecutive trading limits, and Anji Food, which also hit the limit [1] - The financial sector strengthened in the afternoon, with stocks like Hualin Securities and Xiamen Bank reaching their daily limits [1] - The commercial aerospace concept saw localized activity, with Shenjian shares achieving two limits in three days [1] - The computing power leasing concept showed signs of recovery, with Qunxing Toys hitting the limit for two consecutive days [1] Declining Sectors - The non-ferrous metals, electric grid equipment, and oil and gas sectors were among the hardest hit, with precious metals concepts collectively experiencing significant declines, including Hunan Silver hitting the limit down [2] Index Performance - At the close, the Shanghai Composite Index fell by 0.64%, the Shenzhen Component Index dropped by 1.44%, and the ChiNext Index decreased by 1.55% [3][4]

Group 1 - The A-share tourism and hotel sector is experiencing a significant rally, driven by a consumption recovery trend, with Sanxia Tourism hitting the daily limit and becoming a core engine of the sector [1] - Other companies such as Shaanxi Tourism and Juntin Hotel saw gains exceeding 8%, indicating strong performance, while Huangshan Tourism and Jinjiang Hotel also participated in the upward movement, showcasing a synchronized strengthening pattern [1] - The overall recovery of the industry is highlighted by increased market attention and investment in scenic tourism and chain hotel segments [1] Group 2 - The number of planned travelers for the 2026 Spring Festival is expected to surge by 300% year-on-year, leading to an explosion in tourism and hotel demand, which directly catalyzed the sector's rise [2] - The hotel industry's supply-demand dynamics are improving, with leading companies expected to see RevPAR growth and a recovery in profit expectations, as noted in a report by CITIC Securities [2] - The ongoing anti-monopoly investigations on OTA platforms are anticipated to enhance the chain rate in the hotel industry, benefiting leading chain hotels [2] Group 3 - The scenic tourism sector is a core beneficiary of the Spring Festival travel boom, with companies like Sanxia Tourism and Huangshan Tourism directly benefiting from increased demand [3] - The chain hotel sector is also benefiting from improved supply-demand conditions and rising chain rates, with companies like Juntin Hotel and Jinjiang Hotel experiencing simultaneous gains [3] - The tourism service sector, including companies like Shaanxi Tourism, is capitalizing on the recovery of the tourism market, with significant gains reflecting the growth in travel demand [3]

Group 1 - The tourism and hotel sector is experiencing strong performance, with notable stocks such as Shaanxi Tourism and Three Gorges Tourism hitting the daily limit up [1] - Other companies in the sector, including Junting Hotel, Huangshan Tourism, Jinjiang Hotel, and Dongbai Group, are also showing significant gains [1]

Market Overview - The indices experienced fluctuations in the afternoon, with declines narrowing. The Shanghai Composite Index reported at 4078.82 points, down 0.57%, while the Shenzhen Component Index was at 13969.10 points, down 1.32%, and the ChiNext Index at 3266.71 points, down 1.35% [1] Sector Performance - The banking sector saw significant gains, with Xiamen Bank hitting the daily limit and reaching a new high since June 2021 [1] - The innovative drug sector was notably active, with Guangsheng Tang rising over 10% [1] - The securities sector also experienced a surge, with Hualin Securities hitting the daily limit and other companies like Huaxin Securities, Huatai Securities, and Dongfang Caifu following suit [1] - The tourism and hotel sector showed strength, with Sanxia Tourism reaching the daily limit [1] - Conversely, the precious metals sector faced ongoing adjustments, with Hunan Gold and Hunan Silver hitting the daily limit down [1] - The afternoon saw weakness in the electric grid equipment stocks, with Sifang Co. hitting the daily limit down [1] Stock Movement - Overall, the market saw more stocks declining than rising, with over 3500 stocks down [1] - The beauty care, film and television, and banking sectors led in gains, while BC batteries, photovoltaic equipment, and precious metals sectors led in losses [1]

Core Viewpoint - The A-share market is witnessing a strong performance in tourism stocks, with significant increases in share prices driven by a surge in domestic travel demand for the upcoming 2026 Spring Festival holiday, as indicated by a 300% year-on-year increase in planned travel numbers [1]. Group 1: Stock Performance - Three Gorges Tourism has reached the daily limit up with a 10% increase, bringing its total market value to 7.253 billion [2]. - Shaanxi Tourism has seen an 8.89% rise, with a market capitalization of 12.9 billion [2]. - Huangshan Tourism has increased by 7.16%, with a total market value of 10.6 billion [2]. - Dongbai Group has risen by 6.03%, with a market capitalization of 14.7 billion [2]. - Songcheng Performance has increased by 4.47%, with a market value of 23.9 billion [2]. - Other notable increases include ST Zhengping at 4.16%, Caesar Travel at 3.86%, and Haikan Co. at 3.52% [2]. Group 2: Market Trends - The domestic tourism market is experiencing a "volume and price increase" trend, indicating a robust recovery and growth potential in the sector [1]. - The planned travel numbers for the 2026 Spring Festival are expected to significantly boost the tourism industry, reflecting a strong consumer sentiment and willingness to travel [1].

Group 1 - The tourism and hotel sector showed strong performance on February 5, with significant gains observed in various companies [2] - Three Gorges Tourism reached its daily limit increase, indicating robust investor interest [2] - Other companies such as Shaanxi Tourism, Juntin Hotel, Huangshan Tourism, Songcheng Performance, and Caesar Travel also experienced upward movement in their stock prices [2]

对于人才招聘，蜜雪冰城还公布了相应的任职要求。根据招聘信息，乐园相关岗位需要五年以上主题乐 园、文旅综合体工程项目管理经验，熟悉IP主题乐园场景及游乐设备安装、主题包装工艺、沉浸式体验 项目（如VR、特效剧场）的工程实施。同时，具备如环球、迪士尼、长隆等大型乐园施工管理经验者 优先。 蜜雪冰城高薪招聘乐园岗位一时引发热议。2月4日，北京商报记者在BOSS直聘上看到，蜜雪冰城发布 了乐园演艺统筹岗、内容编剧岗、周边产品统筹岗等岗位招聘信息，月薪1.1万元起，最高2.4万元，部 分岗位不仅需要五年以上相关文旅项目经验，更标注迪士尼、环球影城等大型乐园IP管理经验优先。消 息一出，一时引发业界对于蜜雪冰城将跨界打造主题乐园项目的猜测。此前泡泡玛特、爱奇艺分别从零 售、流媒体等行业成功进行跨界。业内专家分析，蜜雪冰城如果跨界主题乐园，其产业链有望得到延伸 和拓展，但是跨界并非易事，仍需重构商业逻辑。 具备环球影城、迪士尼等乐园管理经验者优先 蜜雪冰城因发布乐园相关岗位，引发文旅业内的关注。 BOSS直聘显示，蜜雪冰城发布了乐园内容编剧岗、演艺统筹岗、工程管理岗以及周边产品统筹岗等岗 位招聘信息，月薪1.1万元起，最高 ...

Group 1 - The tourism and scenic area sector increased by 0.71% on February 4, with Caesar Travel leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] - Key stocks in the tourism sector showed various performance, with Caesar Travel closing at 6.47, up 3.69%, and Xi'an Tourism at 10.53, up 3.54% [1] Group 2 - The tourism sector experienced a net outflow of 65.82 million yuan from main funds, while retail investors saw a net inflow of 132 million yuan [2] - Notable stocks with significant fund flows included Caesar Travel with a net inflow of 73.92 million yuan from main funds, but a net outflow from retail investors of 58.75 million yuan [3] - Yunnan Tourism had a net inflow of 14.19 million yuan from main funds, with a net outflow of 8.36 million yuan from retail investors [3]

证券研究报告|公司深度研究报告 [Table_Date] 2026 年 2 月 4 日 [Table_Title] 布局省际游轮业务，迎接成长新纪元 [Table_Title2] 三峡旅游(002627) [Table_Summary] ► 三峡游轮：立足"两峡一坝"旅游产品体系，省际 游轮项目即将落地 三峡旅游是宜昌市旅游行业头部企业，过往业务重心包括乘 用车经销及服务业务、旅游综合服务、供应链管理业务三 块，23 年 12 月通过出售股权形式剥离资金密集型的乘用车 经销及服务业务、供应链管理业务后，旅游综合业务成为主 业，观光游轮成为收入/毛利主要支撑点。观光游轮业务主 要基于"两峡一坝"运营一日游旅游产品，包括"长江夜 游"、"升船机"、"高峡平湖"等匹配多层次观光游览需求的 产品体系，根据 25 年半年报，截至 25H1 末公司旗下游船数 量已达 32 艘，其中两坝一峡豪华观光游轮 6 艘、其他游船 24 艘、在建省际豪华游轮 2 艘，24 年观光游轮业务贡献收 入 2.06 亿元/同比+17.73%，较 19 年同期+135.01%。 ► 银发群体需求匹配：省际游轮产品有效解决中老年 客群出行痛点， ...