社会服务行业双周报（第109期）：AI教育产品密集发布，曹操出行港股上市-20250630

Investment Rating - The report maintains an "Outperform" rating for the social services sector [3][24]. Core Insights - The rapid iteration and commercialization of AI education products are enhancing visibility in the market, with companies like New Oriental and Tianli International Holdings launching innovative AI applications [1][16]. - The consumer services sector has shown resilience, with a reported increase of 1.70% during the review period, outperforming the broader market by 0.21 percentage points [12][14]. - Major companies in the sector, such as Meituan and Alibaba, are implementing strategic upgrades to enhance their market positions and operational efficiencies [16][17]. Summary by Sections Investment Recommendations - The report suggests a focus on companies like Mixue Group, Atour, Tianli International Holdings, China Oriental Education, and Ctrip Group, among others, for potential investment opportunities [3][24]. Industry and Company Dynamics - Meituan is expanding its instant retail business with a focus on supply chain enhancement and category expansion [16]. - Alibaba has integrated Ele.me and Fliggy into its e-commerce ecosystem to create a comprehensive consumer platform [16]. - The successful IPO of Cao Cao Travel on the Hong Kong Stock Exchange highlights the company's innovative model in the ride-hailing sector [17]. Stock Performance - Notable stock performances in the consumer services sector include significant gains for companies like New Macau International Development and MGM China, with increases of 19.94% and 19.10% respectively [14][15]. - The report also notes changes in shareholding percentages for various companies, indicating increased investor interest in Tianli International Holdings and Mixue Group [22].