Guoyuan Securities·2026-02-04 06:33Investment Rating - The industry maintains a "Recommended" rating, with a focus on service consumption, beauty care, IP derivatives, and new consumption sectors such as gold and jewelry [6][27]. Core Insights - The report highlights the implementation of a government plan to accelerate the cultivation of new growth points in service consumption, focusing on key areas such as transportation services, domestic services, and cultural tourism [3][25]. - The beauty care sector is expected to see significant profit growth, with companies like Shanghai Jahwa and Huaxi Bio projecting substantial increases in net profits for 2025 [4][25]. - The travel sector anticipates a 16.2% year-on-year increase in domestic travel, with 6.30 trillion yuan in spending, indicating a strong recovery in consumer behavior [5][26]. Summary by Sections Market Performance - For the week of January 26 to January 30, 2026, the retail, social services, and beauty care sectors experienced declines of 4.18%, 3.45%, and 3.76% respectively, ranking 26th, 23rd, and 25th among 31 primary industries [16][18]. Key Industry Events and Information - The State Council issued a plan to enhance service consumption, proposing three support policies aimed at stimulating development in various service sectors [3][25]. - The Ministry of Culture and Tourism launched a national cultural and tourism consumption month, featuring numerous events and over 360 million yuan in consumer vouchers [3][25]. Investment Recommendations - The report emphasizes a focus on service consumption and highlights specific companies for investment, including Ruoyuchen, Maogeping, Shangmei, Pop Mart, Chaohongji, and Laopu Gold [6][27].