Zheng Quan Shi Bao·2026-01-19 18:14Group 1: Core Insights - The tourism and travel sector in China is experiencing significant growth, driven by increased consumer demand and favorable government policies [5][6] - The upcoming Spring Festival is expected to boost travel, with a notable increase in ticket bookings and travel service reservations [4][6] - Social security funds have heavily invested in key tourism stocks, indicating strong institutional interest in the sector [6] Group 2: Company Performance - China Duty Free Group (中国中免) has seen a cumulative stock increase of 30.91% since October 2025, supported by its expansion into city duty-free stores [6] - Spring Airlines (春秋航空) reported a 23.68% year-on-year increase in available ton-kilometers in December 2025, reflecting growth in operational capacity [7] - China National Aviation Holding (中国国航) and Spring Airlines are among the top holdings by social security funds, with market values of 5.56 billion and 6.01 billion yuan respectively [6] Group 3: Market Trends - The domestic tourism market showed strong recovery in 2025, with 4.85 trillion yuan in spending, an 11.5% increase year-on-year [5] - The "reverse Spring Festival" trend is gaining traction, with a 35% increase in ticket bookings for parents traveling to their children's work locations [4] - The Wind tourism index rose by 2.5% on January 19, 2026, indicating a positive market sentiment ahead of the Spring Festival [3]