社会服务行业行业周报：育儿补贴有望推出，AI催化服务业变革

Investment Rating - The report maintains a "Recommend" rating for the social service industry [2] Core Insights - The social service industry experienced a weekly increase of 4.1%, with education leading at 6.9%, professional services at 5.7%, tourism and scenic spots at 2.0%, and hotel and catering at -0.5% [1][40] - The report highlights the potential introduction of childcare subsidies and the transformative impact of AI on the service industry [1][7] Industry Dynamics and News Education - Beijing's education authority has launched a plan for AI general education in primary and secondary schools, starting in the fall of 2025, requiring at least 8 hours of AI education per year [6][7] - The report suggests that this initiative will increase demand for AI-enabled educational tools, recommending companies like Vision China [6][7] Human Resources - AI is enhancing business processes in human resource institutions, with companies like Randstad and Recruit integrating AI for improved user experience [6][7] - The report recommends companies such as Foreign Service Holdings and Kory International for their AI capabilities [6][7] Chain Services - A central government childcare subsidy is expected to be introduced this year, which could boost birth rates and benefit companies in the mother-baby chain sector, such as Kidswant [7] - The report also notes that the issuance of consumer vouchers may enhance the market environment for chain catering enterprises, recommending companies like Haidilao and Mixue Ice City [7] Industry Data - In December 2024, China's total retail sales of consumer goods reached 45,172 billion yuan, with a year-on-year growth of 3.7% [9] - The report indicates that retail sales excluding automobiles grew by 4.2% year-on-year, with a month-on-month increase of 1.7% [9] Market Performance - The social service sector outperformed the CSI 300 index by 2.8 percentage points, ranking 6th among 31 industries for weekly performance [40] - The report attributes the sector's growth to overall market liquidity and renewed interest in AI-related policies during the National People's Congress [40] Key Stock Coverage and Earnings Forecast - The report provides earnings forecasts for key companies, recommending several firms across various sectors, including education, chain services, and tourism [44]