社会服务行业周报（2025年第3周）

Investment Rating - The industry is rated as "Outperforming the Market" [4][36]. Core Insights - The social service industry experienced a significant increase of 6.39% from January 13 to January 17, 2025, outperforming the Shanghai Composite Index by approximately 4.25% [8][11]. - Key segments within the industry, including tourism and scenic spots, professional services, education, and hotel catering, saw respective increases of 7.34%, 6.22%, 6.08%, and 5.84% [11][15]. - The upcoming Spring Festival is expected to boost both inbound and outbound tourism, driven by relaxed entry and exit policies, leading to increased consumer spending during the holiday [2][26]. Industry Weekly Performance - The Shanghai Composite Index rose by 2.14% during the same period, while the social service industry led the gains [8]. - The education sector recorded the highest weekly transaction volume at 188.50 billion yuan, with a turnover rate of 80.52% [15][16]. - The average price-to-earnings ratio for the education sector was 97 times, while the price-to-book ratio was 4.3 times [15][16]. Industry High-Frequency Data Tracking - The average daily number of domestic flights from January 13 to January 19, 2025, was 14,029, reflecting a week-on-week increase of 9.55% and a year-on-year increase of 8.82% [20]. - The tourism consumption price index in Hainan was recorded at 98.39, showing a week-on-week decrease of 3.16% and a year-on-year decrease of 2.58% [21]. - In December 2024, the duty-free sales in China increased by 55.85% month-on-month, amounting to 2.917 billion yuan, although it represented a year-on-year decline of 5.79% [24]. Industry News and Company Announcements - There has been a notable increase in overseas users searching for domestic travel information on Chinese social media platforms, with hotel searches up by 36% and flight searches up by 28% [26]. - The Ministry of Culture and Tourism announced the resumption of group tours from Fujian and Shanghai to Taiwan, leading to a 48% increase in related searches on travel platforms [27]. - Visa applications for the Spring Festival have seen a year-on-year increase of 58%, with popular destinations including Japan, Australia, and the United States [28]. - China Duty Free Group announced the successful bidding for the operation rights of six city duty-free stores, expanding its presence to 13 cities [30].