峨眉山A涨停，中国中免涨超6%，旅游ETF涨超3%

Market Performance - On the first trading day of December, A-shares opened higher with the Shanghai Composite Index returning above 3900 points, closing up 0.65% at 3914 points, the Shenzhen Component Index rising 1.25%, and the ChiNext Index increasing by 1.31% [1] - The total market turnover reached 1.89 trillion yuan, an increase of 291.7 billion yuan compared to the previous trading day, with nearly 3400 stocks rising [1] Tourism Sector - Tourism concept stocks performed strongly, with Emei Mountain A shares hitting the daily limit, and China Duty Free Group rising over 6%, driving the tourism ETF up more than 3% [2] - The tourism ETF, which tracks the CSI Tourism Index, covers sectors such as air transport, tourism retail, and natural scenic spots, with holdings in companies like China Duty Free Group and Emei Mountain [3] Emei Mountain Shareholder Benefits - Emei Mountain announced a shareholder reward program for those holding over 500 shares from December 1, 2025, to January 31, 2026, offering free admission to the scenic area and discounts on various services [4] - The current share price of Emei Mountain is 12.87 yuan, meaning an investor holding 500 shares would have a cost of 6435 yuan, while the entrance ticket price is 160 yuan per person [4] Consumer Market Trends - The Ministry of Industry and Information Technology and other government bodies issued a plan to enhance the adaptability of consumer goods supply and demand, promoting diverse interest consumption products and expanding low-altitude tourism and automotive aftermarket consumption [5] - The Hainan Free Trade Port is approaching a zero-tariff policy, which will cover approximately 6600 products, significantly reducing tax costs for imported equipment [5] Duty-Free Sales Growth - According to Industrial Securities, high-end consumption recovery, strong sales in 3C categories, and the peak tourism season in Hainan have led to double-digit growth in duty-free sales from October to November [6] - The optimization of duty-free policies and the opening of new city duty-free stores are expected to enhance sales coverage and customer reach, indicating a positive outlook for the duty-free sector [6]