社会服务行业周报：政策强力背书，旅游市场供需两旺

Investment Rating - The report maintains an "Overweight" rating for the social services industry [5]. Core Viewpoints - The tourism market is experiencing strong supply and demand, supported by robust policy backing. The National Development and Reform Commission, along with other governmental bodies, has released a plan aimed at updating cultural and tourism facilities by 2027, which is expected to sustain investment growth and enhance service quality [5][27]. - The upcoming summer tourism peak season is anticipated to further stimulate the tourism industry, making it a favorable time to focus on related listed companies [5]. Summary by Sections Market Performance - The social services industry index fell by 3.98% in the past week, underperforming the CSI 300 index by 1.90 percentage points. The CSI 300 index decreased by 2.08% [8][13]. - Among the sub-sectors, hotel and catering dropped by 4.79%, tourism and scenic spots by 2.90%, education by 3.00%, and professional services by 5.23% [8][13]. Investment Suggestions - Recommended stocks include Huazhu Group in the hotel sector, Haidilao in the catering sector, China Youth Travel Service and Changbai Mountain in the tourism sector, China Duty Free Group in the duty-free sector, and Midea International in the professional services sector [9]. Industry News - The report highlights a significant growth in the restaurant food ingredient consumption scale, which reached 2.12 trillion yuan in 2023, marking a year-on-year increase of 20.45% [20]. - The report also notes the rapid expansion of the overseas market for trendy toy brands, with Pop Mart's revenue from Hong Kong, Macau, and overseas markets growing by 245%-250% year-on-year in Q1 2024 [6][8]. Company Announcements - The report mentions that the Shanghai Disney Resort will implement a new six-tier ticket pricing structure starting November 24, 2024, while maintaining the base and highest ticket prices [27]. - Jin Jiang Hotels reported a 29.53% year-on-year increase in revenue for 2023, reaching 14.649 billion yuan, with a net profit growth of 691% [32][33].