商社行业周报：政策加码，冰雪游进入预订高峰

Investment Rating - The report maintains an "Overweight" rating for the industry [2]. Core Insights - The report emphasizes the importance of high-growth sectors and those showing signs of recovery, particularly in education, internet platforms, and tourism [3]. - It highlights a significant increase in bookings for ice and snow-related tourism, with a 30% year-on-year growth in reservations [3]. - The report notes that various companies within the tourism sector are experiencing differing levels of performance, suggesting selective investment opportunities [3]. Summary by Relevant Sections Education and Internet Platforms - Companies such as卓越教育集团, 思考乐教育, 新东方, and 途虎-W are identified as high-growth opportunities [3]. Retail Sector - The report mentions the introduction of a 6 trillion yuan debt quota to stimulate consumption, which is expected to benefit retail companies [3]. - Notable companies in this sector include 名创优品, 小商品城, and 绿联科技, which are recommended for investment [3]. Tourism Sector - The report indicates that major ski resorts are expected to see a surge in bookings from mid-November, with a second peak anticipated in late December to early January [3]. - Companies such as 同程旅行, 携程集团-S, and 三特索道 are highlighted as potential investment targets due to their expected performance [3]. Jewelry Sector - The report suggests that the rise of domestic brands will support long-term growth in the gold jewelry market, recommending companies like 老铺黄金 and 潮宏基 [3]. Supermarket and Retail Adjustments - The report notes the opening of a new store format by 永辉超市, which is part of a broader trend of supermarket adjustments [3]. E-commerce and Technology - Companies like 安克创新 and 绿联科技 are recommended for their growth potential in the e-commerce and technology sectors [3]. Summary of Key Companies and Their Ratings - The report provides a detailed table of key companies with their projected earnings and ratings, all maintaining an "Overweight" stance [5][6].