10月22日，众信旅游跌0.14%，成交额6180.68万元。两融数据显示，当日众信旅游获融资买入额791.90 万元，融资偿还2014.73万元，融资净买入-1222.83万元。截至10月22日，众信旅游融资融券余额合计 4.01亿元。 截至6月30日，众信旅游股东户数7.12万，较上期增加12.79%；人均流通股11585股，较上期减少 11.34%。2025年1月-6月，众信旅游实现营业收入28.75亿元，同比增长9.85%；归母净利润4044.97万 元，同比减少43.64%。 分红方面，众信旅游A股上市后累计派现1.12亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年6月30日，众信旅游十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股2207.41万股，相比上期减少3877.71万股。富国中证旅游主题ETF（159766）位居第八大 流通股东，持股892.24万股，相比上期减少160.46万股。 责任编辑：小浪快报 融资方面，众信旅游当日融资买入791.90万元。当前融资余额4.01亿元，占流通市值的5.83%，融资余 额超过近一年60%分位水平，处于较高位。 融券方面 ...

Core Insights - On October 20, 2023, Zhongxin Tourism's stock rose by 2.34% with a trading volume of 112 million yuan [1] - The company reported a financing buy-in of 11.01 million yuan and a financing repayment of 14.01 million yuan, resulting in a net financing outflow of 3 million yuan [1] - As of October 20, 2023, the total financing and securities lending balance for Zhongxin Tourism was 407 million yuan, which is 5.93% of its market capitalization [1][2] Financing Overview - On October 20, 2023, Zhongxin Tourism had a financing buy-in of 11.01 million yuan, with a current financing balance of 407 million yuan, exceeding the 70th percentile of the past year [1] - The company’s securities lending showed no shares were repaid or sold on October 20, 2023, indicating a high level of securities lending activity [1] Business Performance - As of June 30, 2023, Zhongxin Tourism had 71,200 shareholders, an increase of 12.79% from the previous period, while the average circulating shares per person decreased by 11.34% [2] - For the first half of 2023, Zhongxin Tourism reported a revenue of 2.875 billion yuan, a year-on-year increase of 9.85%, but the net profit attributable to shareholders decreased by 43.64% to 40.45 million yuan [2] - Since its A-share listing, Zhongxin Tourism has distributed a total of 112 million yuan in dividends, with no dividends paid in the last three years [2] Shareholding Structure - As of June 30, 2023, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 22.07 million shares, a decrease of 38.78 million shares from the previous period [2] - The eighth largest circulating shareholder was the Fortune China Tourism Theme ETF, holding 8.92 million shares, down by 1.60 million shares from the previous period [2]

Core Insights - The tourism and scenic spots sector increased by 2.78% on October 20, with Dalian Shengya leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Sector Performance - Dalian Shengya (600593) closed at 41.78, up 10.01% with a trading volume of 138,700 shares [1] - Changzi Mountain (660E09) closed at 51.88, up 8.81% with a trading volume of 251,600 shares [1] - Caesar Travel (000796) closed at 6.68, up 7.05% with a trading volume of 2,334,700 shares [1] - Tianfu Cultural Tourism (000558) closed at 5.39, up 4.46% with a trading volume of 771,900 shares [1] - Other notable performers include Tibet Tourism (600749) up 3.08% and Xiyu Tourism (300859) up 2.69% [1] Capital Flow - The tourism and scenic spots sector saw a net inflow of 442 million yuan from main funds, while retail investors experienced a net outflow of 245 million yuan [2] - The main funds' net inflow for Caesar Travel was 171 million yuan, representing 10.87% of its trading volume [3] - Changzi Mountain also saw a significant net inflow of 123 million yuan, accounting for 9.60% of its trading volume [3]

Core Viewpoint - The company believes that the closure policy will positively impact its business in Hainan Province, facilitating market expansion and diversification [1] Company Summary - The company operates in the tourism service sector in Hainan Province [1] - The closure policy is expected to enhance local business operations [1]

Core Points - The first "Flash Global" World Culture Festival organized by Zhongxin Tourism took place in Beijing, offering an immersive travel experience that combines cultural activities, tourism promotion, and destination interaction [1] - The event featured participation from multiple overseas tourism boards and global partners, aiming to create a new IP in the cultural tourism industry and provide consumers with a one-stop experience of global cultures [1] - The festival transformed the Longfu Temple Art District into a "window to the world," showcasing various international tourism booths and allowing visitors to engage in hands-on activities and enjoy authentic cultural performances [1] Food Experience - The food area included renowned dining brands such as Qiao Dongbei, Niu Jiao Shao Rou, Wen Ye Cai, Leon's Bistro, Chu Zi Jin Jing, Tan Suo, and Lan Song, providing visitors with a diverse culinary experience [2]

Core Insights - The tourism and scenic area sector experienced a decline of 0.98% on October 17, with Xiangyuan Cultural Tourism leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Dalian Shengya saw an increase of 2.95% with a closing price of 37.98 and a trading volume of 87,800 shares, amounting to 333 million yuan [1] - Lingnan Holdings increased by 1.02% to close at 13.83, with a trading volume of 212,200 shares and a turnover of 294 million yuan [1] - Xiangyuan Cultural Tourism dropped by 3.82% to close at 7.05, with a trading volume of 142,700 shares [2] - ST Zhangjiajie decreased by 3.30% to close at 7.32, with a trading volume of 80,600 shares [2] Capital Flow - The tourism and scenic area sector saw a net outflow of 257 million yuan from main funds, while retail investors contributed a net inflow of 188 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors remained active [2][3] Individual Stock Capital Flow - Lingnan Holdings had a net inflow of 599,350 yuan from main funds, while retail investors saw a net outflow of 2,236,730 yuan [3] - Dalian Shengya experienced a net inflow of 549,780 yuan from main funds, with retail investors also seeing a net outflow of 779,850 yuan [3] - ST Zhangjiajie had a net outflow of 100,030 yuan from main funds, but retail investors had a net inflow of 457,220 yuan [3]

Core Insights - The tourism and scenic spots sector experienced a decline of 0.73% on October 13, with Tianfu Culture and Tourism leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance Summary - Dalian Shengya (600593) saw a closing price of 34.39 with an increase of 3.21% and a trading volume of 50,900 shares, totaling 174 million yuan [1] - Changzi Mountain (660E09) closed at 45.45, up 2.18%, with a trading volume of 85,200 shares and a total transaction value of 385 million yuan [1] - Tianfu Culture and Tourism (000558) closed at 5.17, down 2.27%, with a trading volume of 516,000 shares and a total transaction value of 265 million yuan [2] Capital Flow Analysis - The tourism and scenic spots sector experienced a net outflow of 115 million yuan from main funds, while retail investors saw a net inflow of 111 million yuan [2] - Main funds showed a net inflow of 27.41 million yuan for Changzi Mountain (660209), while Dalian Shengya (600593) had a net outflow of 16.77 million yuan [3] - Yunnan Tourism (002059) recorded a net inflow of 13.34 million yuan from main funds, despite a net outflow from retail investors [3]

Group 1: Tourism Market Trends - The upcoming National Day and Mid-Autumn Festival holidays are expected to drive significant growth in the tourism market, with a notable increase in travelers' willingness to travel and a shift towards experience-based consumption [1][2] - The Ministry of Transport predicts that the total number of travelers during the holidays will reach 2.36 billion, averaging about 295 million per day, which is a 3.2% increase compared to last year [2] - Self-driving remains the primary mode of travel, with an estimated 1.87 billion self-driving trips, accounting for nearly 80% of total travel [2] Group 2: Online Travel Platforms Performance - Major online travel platforms are reporting substantial increases in bookings, with a 130% surge in travelers on the Zhongxin Travel platform and a GMV of 117 million yuan, reflecting a growth of over 65% [3] - Tuniu reported over 60% growth in self-driving and free travel bookings, while group travel bookings increased by over 50% compared to the previous week [3] - Ctrip's data indicates a 45% year-on-year increase in cross-province travel orders, with a 115% increase in high-star hotel bookings among the younger demographic [3] Group 3: Quality and Experience in Travel - The trend towards high-quality travel products is evident, with a shift towards smaller group sizes for tours, enhancing the travel experience [4] - Emotional value is becoming a key factor in destination selection, with significant increases in searches for experiential products that combine scenery, culture, and activities [5] Group 4: Cultural and Recreational Integration - The integration of cultural and recreational activities is becoming a major trend, with increased interest in museum visits and archaeological tourism, leading to a rise in hotel searches near these attractions [6] - The popularity of events such as concerts and festivals is driving hotel and attraction searches, with some venues seeing search volume increase by over 200% [6] Group 5: Offline Consumption Trends - The offline consumption market is also experiencing a booking surge, particularly in dining and local cuisine, with significant growth in group purchases for regional dishes [7] - Notable increases in sales for various regional cuisines have been reported, with Yunnan and Guizhou cuisine seeing a 102% increase in group purchases [7] - Major restaurant chains are preparing for the holiday rush with new product launches and increased reservations, indicating a strong demand for dining experiences during the holidays [7]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The consumer sector experienced a decline across all segments, with notable drops in sectors such as home appliances, beauty care, food and beverage, textile and apparel, retail, and social services, with weekly declines of -0.66%, -2.25%, -2.49%, -2.59%, -4.32%, and -5.92% respectively [2] - The upcoming Mid-Autumn Festival and National Day holidays are expected to boost tourism, with significant increases in orders for cross-province travel, car rentals, and self-driving tours, with Ctrip reporting a 45% year-on-year increase in cross-province orders for the National Day period [2][14] - The home appliance export sector continues to face challenges, with a 3.6% year-on-year decline in the number of units exported in August 2025, although the decline rate has narrowed [2] Summary by Sections Market Weekly Review - The consumer sector saw a comprehensive decline, with specific sectors like food and beverage and home appliances showing significant fluctuations in stock performance [2][12][13] Industry News and Key Company Announcements - The report highlights the launch of a global cruise service ecosystem by Zhongxin Tourism, which has seen a 130% increase in cruise orders this year [14] - The Ministry of Commerce and other departments issued guidelines to promote digital consumption, focusing on enhancing supply and fostering digital consumption enterprises [15] - Haier's air conditioning production base in Thailand has commenced operations, with an annual capacity of 6 million units [14] - Ctrip reported a 125% increase in orders from South Korean tourists visiting China in the first half of 2025 [14]

Group 1 - The first domestic cultural tourism animation IP "Adventure in Nalati" was launched on September 22, 2025, utilizing a combination of CG technology and real-life shooting, bringing new vitality and perspective to the cultural tourism sector [1][10][11] - The Nalati scenic area has introduced over 100 IP-themed cultural and creative products, including figurines, plush toys, clothing, and accessories, allowing visitors to take home memories of Nalati [1][11] - The scenic area has partnered with major platforms like Baidu, Sina Weibo, and Douyin to launch a travel photography activity, attracting numerous KOLs with millions of followers, resulting in over ten million interactions [1][11] Group 2 - The Shenbai High-Speed Railway officially commenced operations on September 28, 2025, significantly reducing travel times to Long White Mountain Station, with the shortest travel times from Beijing Chaoyang Station and Shenyang North Station being 4 hours 33 minutes and 1 hour 53 minutes respectively [2][12] - This railway line is a crucial part of China's Northeast high-speed rail network, facilitating regional economic circulation and promoting tourism resource development along the route [2][12] Group 3 - The Ministry of Culture and Tourism predicts that over 12,000 cultural activities will be held nationwide during the National Day and Mid-Autumn Festival holidays, including more than 300 large-scale light shows and over 500 intangible cultural heritage exhibitions [3][13] - The holiday period is expected to extend from 12 to 16 days due to various holiday combinations, enhancing travel opportunities [3][13] Group 4 - There is a notable increase in long-distance outdoor consumption demand, with spending on domestic long-distance products rising over 20% year-on-year and bookings for domestic charter tours increasing by over 115% [5][16] - Hotel and scenic area package bookings have also seen a growth of over 20% year-on-year, indicating a trend towards integrated travel experiences [5][16] - The popularity of immersive consumption scenarios is on the rise, with cultural, historical, leisure, and entertainment activities driving new consumer demands [7][17] Group 5 - The report highlights a significant increase in outbound travel bookings, with a year-on-year growth of over 30% due to visa-free policies, and a nearly twofold increase in bookings for travel to Russia following the mutual visa exemption [7][17] - The top ten popular outbound travel destinations during the holiday period include Japan, Thailand, Hong Kong, Macau, Singapore, South Korea, Malaysia, the United States, Vietnam, and Indonesia [7][17]