机构称政策支持与需求复苏双重驱动下，服务消费已成重要投资主线

Core Viewpoint - The Hong Kong consumer sector is experiencing downward pressure, with several popular stocks showing significant adjustments, but the "14th Five-Year Plan" policies may provide direct benefits to the sector, creating long-term investment opportunities [1] Group 1: Market Performance - The Hong Kong consumer ETF (513230) has dropped nearly 1%, indicating a broader market adjustment in the consumer sector [1] - Key stocks such as Uni-President China, Bilibili, Pop Mart, Gu Ming, and Alibaba are experiencing volatility and weakness [1] Group 2: Policy Impact - The "14th Five-Year Plan" suggests policies to expand service consumption and enhance service industry quality, which may benefit the Hong Kong consumer sector [1] - The policies aim to relax market access and promote integration of business formats, opening up growth opportunities for innovative internet platforms and new consumption enterprises [1] Group 3: Investment Recommendations - Huachuang Securities is optimistic about the overall development prospects of the Chinese consumer industry, emphasizing service consumption as a key investment theme driven by policy support and demand recovery [1] - Three main investment directions are suggested: 1. Service consumption platform companies such as Trip.com, Tongcheng Travel, and Meituan 2. Hotel groups with improving operations, including Shoulv, Huazhu, and Atour 3. Tourism sector companies with rising prospects, such as Jiuhua Tourism, Changbai Mountain, and Xiangyuan Cultural Tourism [1] Group 4: ETF Composition - The Hong Kong consumer ETF (513230) tracks the CSI Hong Kong Stock Connect Consumer Theme Index, encompassing leading internet e-commerce and new consumption companies [2] - The ETF includes major players across various consumer sectors, such as Pop Mart, Lao Pu Gold, and Miniso, as well as internet e-commerce giants like Tencent, Kuaishou, Alibaba, and Xiaomi, highlighting its strong tech and consumer attributes [2]