Core Insights - Sichuan province is set to launch nearly 3000 cultural and tourism activities and distribute over 30 million yuan in consumption vouchers to stimulate holiday tourism during the Spring Festival [1][2] Group 1: Cultural and Tourism Activities - The provincial cultural and tourism system will organize around 3000 events, including art performances, music shows, intangible cultural heritage markets, and New Year goods festivals, ensuring comprehensive coverage and all-time engagement [1] - The activities will be promoted through new media, OTA platforms, and industry influencers, utilizing online live broadcasts, offline interactions, and topic challenges to enhance the impact and excitement of Spring Festival tourism consumption [1] Group 2: Consumption Vouchers and Incentives - Over 30 million yuan in tourism consumption vouchers will be distributed, covering various spending scenarios such as scenic area visits, hotel stays, dining, and cultural performances, aimed at boosting public enthusiasm for tourism consumption [2] - Collaborations with major platforms and financial institutions will provide additional benefits, including a 3 million yuan investment from Sichuan Bank to support tourism consumption and special promotions from travel platforms like Tongcheng and Meituan [2] Group 3: Seasonal Product Innovations - The province will introduce seasonal products tailored to diverse consumer needs, focusing on winter tourism trends, such as ski resorts in the western plateau, folk experiences in the southern region, and wellness retreats in central and northern Sichuan [2]

Group 1 - The Milan Winter Olympics is driving a significant increase in tourism bookings, with hotel reservations in Milan rising over 200% year-on-year in the two weeks following the opening ceremony [1] - The surge in travel demand has led to a rapid increase in hotel prices, with the average nightly rate in Milan approaching 4000 RMB, reflecting a month-on-month increase of over 140% and a year-on-year increase exceeding 80% [1] - Other historical cities in Italy, such as Venice, Pisa, and Naples, are also experiencing substantial growth in travel demand, with hotel prices during the Spring Festival period rising over 60% compared to the previous year [1] Group 2 - The overlap of the Milan Winter Olympics with China's Spring Festival holiday has made Milan and other Italian destinations popular choices for European travel this year [2] - The travel platform offers multiple European travel routes for the Spring Festival, covering major Italian historical cities, and considers the sightseeing needs of tourists after attending the events [2]

Market Overview - The Hang Seng Index closed up 0.05% at 26,847.32 points, while the Hang Seng Tech Index fell by 1.84% to 5,366.44 points [1]. Sector Performance - Coal stocks led the gains, with Yanzhou Coal Mining rising over 10% and China Shenhua Energy increasing by over 5% [1]. - Chip stocks showed weak performance, with Shanghai Fudan down over 5% and Huahong Semiconductor declining nearly 5% [1]. - The technology sector overall performed poorly, with Tencent Holdings down nearly 4% and Bilibili falling over 3% [1]. - Domestic property stocks collectively rose, with Shimao Group increasing over 14% and Sunac China rising over 8% [1]. Individual Stock Movements - Among the Hang Seng Index constituents, Xinyi Glass, China Shenhua, and China Resources Land had the highest gains [1]. - Conversely, Ctrip Group, Tencent Holdings, and NetEase saw the largest declines [1]. - In the Hang Seng Tech Index, Li Auto, Leapmotor, and Haier Smart Home showed the most significant increases [1]. - On the downside, Kingdee International, Ctrip Group, and Tongcheng Travel experienced the largest drops [1].

本月底法定/註冊股本總額： USD 1,500,000 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 同程旅行控股有限公司 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00780 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,000,000,000 | USD | | 0.0005 | USD | | 1,500,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,000,000,000 | USD | | 0.0005 | ...

| 名称 | 现价 | 涨跌幅 ▲ | | --- | --- | --- | | 纳芯微 | 138.700 c | -6.66% | | 天域半导体 | 45.840 c | -6.41% | | 上海复日 | 47.880 c | -5.19% | | 华虹米昌体 | 102.400 c | -4.92% | | 兆易创新 | 304.400 c | -3.85% | | 伟志控股 | 0.790 c | -3.66% | | 峰昭科技 | 128.400 c | -2.65% | | 中村国际 | 68.750 c | -2.41% | | 普达特科技 | 0.224c | -2.18% | | 天岳先进 | 58.350 c | -1.77% | 煤炭股活跃，兖矿能源涨逾10%，中煤能源涨逾8%，中国神华涨逾5%。 2月4日，香港恒生指数收涨0.05%，恒生科技指数跌1.84%。 | 名称 | 现价 | 淵跌 | 涨跌幅 | | --- | --- | --- | --- | | 恒生指数 | 26847.32 | 12.55 | 0.05% | | 恒生科技 | 5366.44 | -100.82 ...

信义玻璃涨5.877%，中国神华涨5.665%，华润置地涨5.412%，创科实业涨5.283%，同程旅行跌 5.668%，携程集团-S跌6.147%，金蝶国际跌12.638%。 来源：滚动播报 ...

Group 1 - The report highlights that the new consumption sector performed well, with service consumption policies expected to continue catalyzing growth in 2026 [2][27] - In 2025, the overall performance of the optional consumption sector was weak, but sub-sectors like new consumption showed significant gains, particularly in the first half of the year [16][21] - The retail sales of consumer goods grew moderately, with service retail growth outpacing that of goods retail, indicating a shift towards service consumption [21][27] Group 2 - The tourism sector is expected to benefit from extended holiday periods and improved vacation policies, with companies like Trip.com and Tongcheng Travel being key focuses [3] - The hotel market is showing signs of recovery, with a narrowing decline in RevPAR and increasing leisure demand, highlighting companies like Jin Jiang Hotels and Huazhu Group [3] - The duty-free sector is experiencing a boost from new policies, particularly in Hainan, with a focus on high-end consumption recovery [3] Group 3 - The cosmetics industry saw a slight growth of 6.18% in 2025, with domestic brands continuing to gain market share [4][30] - The medical beauty market is projected to reach approximately 366.6 billion in 2025, with a K-shaped consumption differentiation emerging [4][30] - Innovations in core ingredients and the integration of biotechnology are driving brand growth in the cosmetics sector [4][36] Group 4 - The IP derivative market is expanding due to a flourishing supply of IP and commercial operations, with domestic policies expected to further mature the industry ecosystem [5] - Key players in the IP space include Shanghai Film, Light Media, and Pop Mart, with a focus on both domestic and international market expansion [5] Group 5 - The gold and jewelry sector saw a cumulative growth of 12.78% in retail sales from January to December, with a focus on brand premium capabilities and international expansion [6][9] - The rise of "self-wearing" scenarios is driving gold jewelry sales, with brands like Chao Hong Ji and Lao Pu Gold being highlighted for their international strategies [9]

同程旅行平台截至2月4日的数据显示，春节前后意大利出境游的核心客源地主要分布于上海、北京、广 州、成都、南京、武汉等地，其中，上海、成都飞往意大利的机票预订热度同比增幅均超过了130%。 随着2月6日米兰冬奥会开幕式临近，冬奥观赛游热度快速攀升，米兰及意大利主要城市的旅游预订热度 增长显著。同程旅行平台数据显示，冬奥会开幕后的两周内米兰当地酒店预订热度同比增长超200%。 大幅增长的出游需求带动米兰酒店价格快速上涨，截至2月4日，米兰酒店的平均每晚价格接近4000元人 民币，环比涨幅超140%，较去年同期的涨幅超过了80%。 同程旅行度假业务相关负责人表示，米兰冬奥会正好与中国的春节长假重合，米兰等意大利目的地因此 成为今年春节欧洲游的热门选项。同程旅行平台在售的多条春节欧洲游线路涵盖了米兰、威尼斯、罗 马、比萨等意大利历史文化名城，充分考虑到了部分游客观赛之后的旅游观光需求。 根据同程旅行发布的春节出境游相关数据，意大利位列热门长线目的地之列，米兰冬奥会带来的观赛游 需求进一步推高了意大利的春节出游热度。同程旅行平台数据显示，截至2月4日，春节期间米兰酒店的 预订热度较去年同期增长超200%，平均每间夜价格 ...

行的游客，就选择了"飞机+火车"的组合方式出行，如广州-长春-延边、杭州-南京-哈尔滨、上海-哈尔 滨-牡丹江、杭州-海口-万宁、杭州-昆明-西双版纳、上海-成都-乐山等都是热门的联运线路。 剧游联动"破圈"，赏梅地图"上新" 春节将至，年味渐浓。2026"宋"福杭州年系列活动已于近期正式启动，从1月8日至3月4日，杭州推 出了三大"事件"、五大产品、六大场景以及百项活动，为大家呈现一幅新春文旅"百骏图"。 正在热播的《太平年》，将千年前的吴越风华重新带入大众视野。近日，杭州文旅顺势推出"跟着 《太平年》游杭州"系列旅游线路，邀请市民游客用9天时间，沉浸式体验吴越文化的精髓。目前，杭州 文旅推出五条新春主题线路，分别是"溯源·吴越根脉线""禅意·吴越文脉线""慢赏·西湖塔影线""映晖·江 塔海塘线""活力·吴越市井线"，市民游客可化身"寻迹者"，解锁一条穿越古今的"剧游"线路。 融融暖意，铺满了2026年的春运旅途。这是有着9天"超长"春节假期的春运，多重客流叠加，预计2 月7日将会迎来第一波出行高峰。综合去哪儿、同程、携程等第三方平台的机票预订数据，杭州至昆 明、成都、哈尔滨等都是今年春运期间的热门航线；芒 ...

Core Insights - The upcoming 9-day Spring Festival holiday is expected to ignite a surge in travel demand, with various travel products already entering a "booking frenzy" [1] - The proportion of travelers during the 2026 Spring Festival is anticipated to increase, gradually catching up with the "returning home" crowd, highlighting a trend towards "segmented New Year" and "composite Spring Festival" experiences [1] Group 1: Travel Trends - "Non-cross-province" travel is gaining popularity, with many travelers preferring local trips to avoid delays in visiting family and friends [2] - Approximately 20% of the top 100 cities for hotel bookings during the Spring Festival are located in provinces with a high number of migrant workers, such as Henan, Anhui, Sichuan, and Jiangxi [2] - The "reverse New Year trend" is notable, with young people in major cities bringing their parents from rural areas to celebrate together [2] Group 2: Regional Highlights - Regions like Guangdong, Fujian, and Sichuan are launching campaigns to attract tourists, with Guangdong's hotel bookings increasing by 169% compared to last year [3] - Fuzhou has entered the top five for hotel bookings during the Spring Festival, with an increase of over 80% year-on-year [3] - Sichuan's New Year activities, including the famous lantern festival, are making it a sought-after destination, with hotel prices rising significantly [3] Group 3: Emerging Travel Patterns - A report indicates a clear trend towards segmented travel, with nearly 35% of users opting for early bird trips before the holiday peak [5] - The highest travel peak is expected on February 18, following family reunions and traditional New Year celebrations [6] - There is a growing interest in "niche" travel destinations and experiences, with social media playing a significant role in promoting lesser-known locations [6]