社会服务行业周报（2024年第49周）

Investment Rating - The report maintains an "Outperform" rating for the social services industry [3][41]. Core Insights - The social services industry saw a weekly increase of 4.51%, outperforming the Shanghai Composite Index by approximately 3.19%, ranking it 4th among sectors [8][10]. - The tourism and scenic spots sector led the gains with a rise of 6.49%, followed by hotel and catering at 6.39%, education at 3.89%, and professional services at 2.13% [10][11]. - The education sector recorded the highest weekly transaction volume at 30.46 billion yuan, with an average turnover rate of 94.02%, and a price-to-earnings ratio of 113 times [15][16]. Industry Weekly Performance - From November 25 to November 29, the Shanghai Composite Index rose by 1.32%, while the social services sector increased by 4.51% [8]. - The breakdown of weekly performance shows tourism and scenic spots at 6.49%, hotel and catering at 6.39%, education at 3.89%, and professional services at 2.13% [10][11]. Industry High-Frequency Data Tracking - The average daily number of domestic flights from November 25 to December 1 was 12,076, a decrease of 1.81% from the previous week but an increase of 2.28% compared to the same period in 2023 [20]. - The total tourism consumption price index in Hainan for the same week was 105.48, down 0.40% from the previous week but up 2.55% year-on-year [23]. - In October 2024, the duty-free sales improved by 27.90% month-on-month, totaling 2.144 billion yuan, although it represented a year-on-year decline of 35.40% [30]. Industry News and Company Announcements - The 2024 China International Tourism Trade Fair was held in Shanghai, themed "Hello! China," attracting numerous international exhibitors and travel agents [33]. - Starting November 30, 2024, China implemented visa-free policies for citizens from nine countries, including Japan and several Eastern European nations, enhancing international travel [34]. - The "Poetic Zhejiang·Cultural Tourism Benefit Card" was launched to promote tourism in Zhejiang, allowing access to 112 quality scenic spots at a promotional price [37].