Core Viewpoint - The report from Credit Lyonnais indicates that while awaiting data from the Ministry of Culture and Tourism regarding the Spring Festival, overall consumer sentiment in mainland China remains positive, with strong tourism activity observed [1] Group 1: Consumer and Tourism Trends - The average daily cross-border passenger flow is expected to increase by approximately 14% year-on-year, according to the National Immigration Administration [1] - Hainan's duty-free store consumption remains resilient due to stronger promotional activities and policy-driven demand, although this has largely been reflected in the stock price of China Duty Free Group (01880, 601888.SH) [1] Group 2: Box Office and Luxury Goods - Movie box office performance has been weak, reaching the lowest level in eight years [1] - Sales of gold and jewelry continue to face pressure due to fluctuations in gold prices, while some luxury brands have performed strongly year-to-date [1] Group 3: Investment Recommendations - Credit Lyonnais believes that the Spring Festival data will likely reflect strong travel and tourism, with good performance in high-end consumption, benefiting preferred stocks such as Samsonite (01910), luxury giant LVMH, Richemont (the parent company of Cartier), and Anta Sports (02020), which is related to domestic demand [1]