Core Insights - The appreciation of the Renminbi has positively impacted certain sectors, with the Renminbi appreciation benefiting stocks rising by 0.54% compared to the previous trading day [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index closed at 12907.83, up 1.02% [1] Summary of Benefiting Stocks - China Eastern Airlines (600115) led the gainers with a closing price of 5.06, up 2.43%, with a trading volume of 1.2588 million shares and a turnover of 634 million yuan [1] - Other notable gainers include: - Pinwo Food (300892) at 34.70, up 2.18%, with a turnover of 172 million yuan [1] - Liangxing Paper (002067) at 5.51, up 1.85%, with a turnover of 4.98 million yuan [1] - Tongling Nonferrous Metals (000630) at 5.04, up 1.00%, with a turnover of 1.074 billion yuan [1] - China National Aviation (601111) at 8.08, up 0.25%, with a turnover of 716 million yuan [1] Capital Flow Analysis - The Renminbi appreciation benefiting sector saw a net inflow of 94.82 million yuan from main funds, while speculative funds had a net inflow of 248 million yuan, and retail investors experienced a net outflow of 342 million yuan [2] - Key stocks in terms of capital flow include: - China National Duty-Free (601888) with a main fund net inflow of 2.30 billion yuan and a retail net outflow of 3.19 billion yuan [3] - Tongling Nonferrous Metals (000630) with a main fund net inflow of 94.99 million yuan and a retail net outflow of 60.20 million yuan [3] - Rongsheng Petrochemical (002493) with a main fund net inflow of 13.96 million yuan and a retail net outflow of 14.28 million yuan [3]

Core Viewpoint - The tourism and scenic spots sector experienced a rise of 1.32% on November 24, with Tianfu Culture and Tourism leading the gains [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3836.77, up 0.05%, while the Shenzhen Component Index closed at 12585.08, up 0.37% [1] - Key stocks in the tourism sector showed significant increases, with Tianfu Culture and Tourism rising by 4.55% to a closing price of 5.51 [1] Group 2: Stock Performance - Notable performers included: - Tianfu Culture and Tourism (000558): 5.51, +4.55%, 844,600 shares traded, 463 million yuan turnover [1] - Zhongxin Tourism (002707): 6.97, +3.41%, 220,200 shares traded, 152 million yuan turnover [1] - Qujiang Culture and Tourism (600706): 10.60, +3.11%, 101,500 shares traded, 107 million yuan turnover [1] - Conversely, Caesar Travel (000796) saw a decline of 6.69% to 6.69, with a trading volume of 1,428,100 shares and a turnover of 973 million yuan [2] Group 3: Capital Flow - The tourism and scenic spots sector experienced a net outflow of 40.05 million yuan from institutional investors, while retail investors saw a net inflow of 105 million yuan [2] - Specific stock capital flows indicated: - Tianfu Culture and Tourism: -30.41 million yuan from institutional investors [3] - Zhongxin Tourism: +13.34 million yuan from institutional investors [3] - Yunnan Tourism (002059): +10.78 million yuan from institutional investors, but -33.39 million yuan from retail investors [3]

Core Viewpoint - Zhongxin Tourism has established itself as the largest operator of polar cruise products in China, holding the top market share in the polar tourism sector [2] Group 1: Company Positioning - The company is a dual-certified member of two authoritative organizations: the International Association of Antarctica Tour Operators and the Association of Arctic Expedition Cruise Operators, indicating its credibility in the polar tourism market [2] - Zhongxin Tourism is committed to maximizing tourist benefits in its product development, which has led to numerous positive market reviews [2]

Core Viewpoint - The company has established itself as the largest operator of polar cruise products in China, holding the top market share in the polar tourism sector [1] Group 1: Company Positioning - The company is a dual-certified member of two authoritative polar tourism organizations: the International Association of Antarctica Tour Operators and the Association of Arctic Expedition Cruise Operators [1] - The company focuses on maximizing tourist benefits in its product development philosophy, which has led to numerous positive market reviews [1]

Core Viewpoint - The company has established itself as the largest operator of polar cruise products in China, holding the top market share in the polar tourism sector [1] Group 1 - The company is continuously deepening its engagement in the polar tourism market, focusing on both the Arctic and Antarctic regions [1] - The company has become a dual-certified member of two authoritative organizations: the International Association of Antarctica Tour Operators and the Association of Arctic Expedition Cruise Operators [1] - The company's polar products are developed with a focus on maximizing tourist benefits, which has led to numerous positive market reviews [1]

Market Overview - The tourism and scenic spots sector experienced a decline of 3.08% on November 21, with Dalian Shengya leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Stock Performance - Dalian Shengya saw a significant drop of 10.00%, closing at 47.34, with a trading volume of 147,500 shares and a transaction value of 714 million [2] - Other notable declines included Tianfu Culture Tourism (-4.18%), Changzi Mountain (-4.08%), and Qujiang Culture Tourism (-3.93%) [2] Capital Flow - The tourism and scenic spots sector experienced a net outflow of 486 million from main funds, while retail investors saw a net inflow of 461 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors increased their positions [2] Individual Stock Capital Flow - Yunnan Tourism had a main fund net inflow of 10.99 million, while it faced a retail net outflow of 32.27 million [3] - Huangshan Tourism and Sanxia Tourism experienced significant net outflows from main funds, at 10.61 million and 11.62 million respectively, while both saw positive retail inflows [3]

Core Viewpoint - Zhongxin Tourism announced the election of Mr. Zhang Lei as the employee representative director of the sixth board of directors through a democratic election at the employee representative assembly [2] Company Summary - The company held an employee representative assembly where Mr. Zhang Lei was elected as the employee representative director [2]

Investment Rating - The report maintains an "Overweight" rating for the retail industry [1] Core Insights - The 2025 Double Eleven sales period saw a total e-commerce sales of approximately 1,695 billion yuan, representing a year-on-year increase of 14.2%. The comprehensive e-commerce platforms accounted for 1,619.1 billion yuan, with a year-on-year growth of 12.3% [4][9] - Instant retail showed remarkable growth, with sales reaching 67 billion yuan during the Double Eleven period, marking a year-on-year increase of 138% [10][15] - Key product categories such as digital appliances, food and beverages, furniture, and pet products experienced significant growth, with pet sales reaching 9.2 billion yuan, up 59% year-on-year [15][16] Summary by Sections Weekly Industry Viewpoint - The Double Eleven sales period was extended, contributing to steady growth in total e-commerce sales. The sales period for 2025 was from October 7 to November 11, compared to October 14 to November 11 in 2024 [9] - Instant retail emerged as a highlight, with substantial growth compared to traditional e-commerce formats [10] Weekly Market Review - From November 10 to November 16, the Shenwan retail index increased by 4.06%, while the Shanghai Composite Index decreased by 0.18% [17] - Year-to-date performance shows the Shenwan retail index up by 8.43%, compared to a 19.06% increase in the Shanghai Composite Index [17][22] Company Valuation Table - The report includes a detailed valuation table for various companies in the retail sector, with specific metrics such as market capitalization and P/E ratios [24][25]

众信旅游集团股份有限公司 章程 （经公司 2025 年第二次临时股东大会审议通过） 1 | | | | 第一章 | 总 则 3 | | | --- | --- | --- | | 第二章 | 经营宗旨和范围 4 | | | 第三章 | 股份 5 | | | 第一节 | 股份发行 5 | | | 第二节 | 股份增减和回购 6 | | | 第三节 | 股份转让 7 | | | 第四章 | 股东和股东会 8 | | | 第一节 | 股东的一般规定 8 | | | 第二节 | 控股股东和实际控制人 | 11 | | 第三节 | 股东会的一般规定 12 | | | 第四节 | 股东会的召集 | 14 | | 第五节 | 股东会的提案与通知 15 | | | 第六节 | 股东会的召开 | 17 | | 第七节 | 股东会的表决和决议 20 | | | 第五章 | 董事和董事会 | 23 | | 第一节 | 董事的一般规定 | 23 | | 第二节 | 董事会 | 26 | | 第三节 | 独立董事 | 32 | | 第四节 | 董事会专门委员会 35 | | | 第六章 | 高级管理人员 | 37 | | 第七章 | ...

公司于近日通过公司职工代表大会民主选举张磊先生为公司第六届董事会 职工代表董事（简历详见附件），张磊先生将由第六届董事会非独立董事变更为 第六届董事会职工代表董事，同时继续担任第六届董事会审计委员会委员。任期 自本次职工代表大会选举通过之日起至第六届董事会任期届满之日止。张磊先生 变更为职工代表董事后，公司第六届董事会人员构成不变。 股票代码：002707 股票简称：众信旅游 公告编号：2025-046 众信旅游集团股份有限公司 关于选举公司第六届董事会职工代表董事的公告 本公司及董事会全体成员保证本公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上市公司 章程指引》的相关规定，众信旅游集团股份有限公司（以下简称"公司"）于 2025 年 11 月 18 日召开了 2025 年第二次临时股东大会，审议通过了《关于修订 <公司章程>及其附件的议案》。根据修订后的《公司章程》，公司董事会设职 工代表董事一名，通过职工代表大会等形式民主选举产生。 股票代码：002707 股票简称：众信旅游 公告编号：2025-046 附件： 众信旅游集团 ...