国盛证券:端午出游热度持续 社服零售部分子行业边际转好
Zheng Quan Shi Bao Wang·2025-06-05 01:03

Group 1 - The core viewpoint of the report indicates a sustained increase in domestic travel during the Dragon Boat Festival in 2025, with 119 million trips made, representing a year-on-year growth of 5.7%, and total spending reaching 42.73 billion yuan, up 5.9% year-on-year [1] Group 2 - The report highlights that the consumer services retail sector has maintained a stable recovery since 2025, with some sub-industries showing marginal improvements, supported by policy stimuli [1] - New consumption trends are thriving, with notable companies including Gu Ming, Cha Bai Dao, Kid King, Ai Ying Shi, Chuang Yuan, Guang Bo, and Miniso [1] - The retail adjustment continues, with key players such as Yonghui Supermarket, Chongqing Department Store, Dashang Group, He Bai Group, Bubugao, Jiajiayue, and Hongqi Chain [1] - Cross-border leaders like Xiaoshangcheng, Anke Innovation, and Sumeida are maintaining growth, while companies like Ru Yuchen and Nanji E-commerce are worth tracking for their business models and transformations [1] - The tourism sector remains robust, with companies such as Xiangyuan Cultural Tourism, Songcheng Performing Arts, Jiuhua Tourism, Huangshan Tourism, Xiyu Tourism, Changbai Mountain, Emei Mountain, Lijiang Co., San Te Suodao, Tianmu Lake, China Youth Travel Service, and Zhongxin Tourism [1] - The report also mentions cyclical recovery in sectors like dining, hotels, and duty-free shops, along with other undervalued leading companies [1]

国盛证券:端午出游热度持续 社服零售部分子行业边际转好 - Reportify