12月首个交易日，A股迎来开门红。沪指重返3900点上方，创业板指等涨超1%；港股震荡整理，两大股指 盘中均涨超1%。 | 14 | | | | --- | --- | --- | | | 10 51 | 1 | 半导体板块拉升 半导体板块午后强势拉升，光刻机、存储芯片概念亮眼，北京君正尾盘20%涨停。此外，容大感光涨近18%， 航宇微涨超14%，博通集成涨停，国科微、南大光电、乐鑫科技等涨超8%。 | 代码 名称 | | | 涨幅% | 现价 | 涨跌 | 买价 | 卖价 | 总量 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 300223 北京君正 | | | R 20.00 | 85.28 | 15.88 | 95.28 | | 709227 | | 300053 航导微 | | R | 14.75 | 17.43 | 2.24 | 17.42 | | 17.43 197.8万 | | 300102 乾照光电 | | 1 | 10.12 | 21.00 | 1.93 | 66'02 | | 21.00 261.6万 | | 603 ...

Core Insights - The annual ice and snow tourism season has officially begun as temperatures drop below zero across many regions in China, leading to increased hotel bookings and diverse winter activities [1][2] Group 1: Ice and Snow Tourism Trends - Ice and snow tourism has become a hot travel trend, with platforms like Tongcheng Travel reporting that ice sports and cultural tourism remain major consumer hotspots [1] - Popular destinations include ski resorts and ice-themed amusement parks, which are expected to continue attracting significant visitor traffic [1][2] Group 2: Hotel and Booking Trends - Ski resorts have opened earlier this season, leading to a 50-70% increase in hotel bookings in the surrounding areas [2] - For instance, hotel bookings in Fuyun County, near the Keketohai International Ski Resort, surged by 51.6% one week after its opening [2] Group 3: New Experiences and Activities - Various innovative activities such as ice fishing, snowmobile rides, and hot pot experiences in snow houses are drawing tourists [3] - The combination of "ice and snow" with hot springs has gained popularity among younger travelers, with a 30% increase in related accommodation bookings [3] Group 4: Diverse Destinations - The 2025-2026 snow season features a wider variety of popular destinations, including scenic spots like Yulong Snow Mountain and Changbai Mountain, appealing to tourists interested in snow viewing [4] - Families, particularly those from the 80s and 90s generations, prefer flexible travel options like self-driving and independent travel [4] Group 5: International Ice and Snow Travel - There is a growing trend in outbound ice and snow tourism, with popular destinations including Moscow, Switzerland, and Kazakhstan [5] - China is also emerging as a new destination for global ice and snow enthusiasts, with a 13.58% increase in bookings by non-Chinese passport holders for domestic flights [6]

央视网消息：随着新雪季开启，各地雪场迎来八方游客。今年冰雪旅游消费呈现出哪些丰富多元的 新场景？各景区又在软硬件上做了哪些调整升级？ ...

内蒙古扎兰屯：乐享冰雪游【3】 内蒙古扎兰屯：乐享冰雪游 内蒙古扎兰屯：乐享冰雪游【2】 内蒙古扎兰屯：乐享冰雪游【4】 内蒙古扎兰屯：乐享冰雪游【5】 内蒙古扎兰屯：乐享冰雪游【6】 ...

本文字数：1593，阅读时长大约2分钟 作者 | 第一财经 乐琰 封面图来源 | 视觉中国 随着冬季来临，冰雪游成为出行热点。"南方小土豆"再掀"北上"浪潮，途牛数据显示，上海、南京、 沈阳、北京、深圳、成都、杭州、天津、武汉、宁波等是冰雪旅游热门客源地城市。在截至目前预订 冰雪旅游相关产品的用户中，南方游客占比超过70%。 与此同时，冰雪旅游呈现"旅游+"的多元化模式，拉动更多消费产业，前十大冰雪游热门目的地，东 北占六席，哈尔滨等热门目的地民宿预订热度同比增长超80%。 气温降了，冰雪游升温了 同程旅行发布《2025-2026雪季冰雪游趋势报告》显示，冰雪运动和冰雪文旅依然是两大主要消费 热点，滑雪度假区、冰雪主题乐园等将继续扮演热门目的地的客流担当。基于同程旅行平台主要冰雪 2025.11. 21 元旦假期的临近，进一步点燃了游客的冬季出行热情。截至目前，春秋旅游春节期间出游预订人次与 销售进度，同比已超过去年同期。春秋旅游副总经理周卫红表示，"今年冬季旅游，尤其是元旦、春 节，在长假期的加持下，游客出游意愿不断被加热，尤其是涉及亲子家庭和长途出境旅游方向，长途 出境旅游目的地的'更热'与'更冷'两极分 ...

Core Insights - The winter tourism trend is significantly rising, particularly in snow-related activities, with southern tourists making up over 70% of bookings for snow tourism products [1][2][3] Group 1: Popular Destinations and Trends - Major cities contributing to snow tourism include Shanghai, Nanjing, Shenyang, Beijing, Shenzhen, Chengdu, Hangzhou, Tianjin, Wuhan, and Ningbo, with a notable increase in bookings for destinations like Harbin, which saw over 80% growth in homestay reservations [1][2] - The report from Tongcheng Travel indicates that popular destinations for the 2025-2026 snow season include Harbin, Shenyang, Urumqi, Changchun, Hulunbuir, Altay, Qiqihar, Daxing'anling, Changbai Mountain, and Ili [2] - The winter group tour bookings have more than doubled compared to last year, with a diverse range of destinations being favored, including both snow and warm winter tourism options [3] Group 2: Consumer Behavior and Preferences - There is a notable trend of consumers pre-booking accommodations in popular snow tourism destinations to lock in prices, with an average increase of over 80% in homestay bookings on the Tongcheng platform [2][3] - The demographic for winter hot spring tourism is shifting, with a significant portion of bookings coming from the post-90s generation, who account for about one-third of orders, and the post-00s generation showing a 43% increase in order volume [4] - Family-oriented travel is becoming more prevalent, with services catering to children, such as one-on-one ski coaching, seeing significant growth [4] Group 3: International Snow Tourism - The interest in outbound snow tourism is also increasing, with popular international destinations for the upcoming season including Moscow, Interlaken in Switzerland, Aspen in France, and Whistler in Canada [5] - The recent visa-free policy for Russia has led to a noticeable rise in winter tourism bookings, while traditional favorites like Japan's Hokkaido and Tokyo have seen a decline in popularity [5]

随着冬季来临，冰雪游成为出行热点。 随着冬季来临，冰雪游成为出行热点。"南方小土豆"再掀"北上"浪潮，途牛数据显示，上海、南京、沈阳、北京、深圳、 成都、杭州、天津、武汉、宁波等是冰雪旅游热门客源地城市。在截至目前预订冰雪旅游相关产品的用户中，南方游客占 比超过70%。 与此同时，冰雪旅游呈现"旅游+"的多元化模式，拉动更多消费产业，前十大冰雪游热门目的地，东北占六席，哈尔滨等 热门目的地民宿预订热度同比增长超80%。 气温降了，冰雪游升温了 同程旅行发布《2025-2026雪季冰雪游趋势报告》显示，冰雪运动和冰雪文旅依然是两大主要消费热点，滑雪度假区、冰雪 主题乐园等将继续扮演热门目的地的客流担当。基于同程旅行平台主要冰雪目的地的机票、酒店及度假线路预订数据， 2025～2026雪季的热门目的地主要有哈尔滨、沈阳、乌鲁木齐、长春、呼伦贝尔、阿勒泰、齐齐哈尔、大兴安岭、长白 山、伊犁。冰雪游客流高峰时段，热门目的地的酒店民宿预订热度和价格也将迎来一年中的高点。 不少消费者为提前锁定房价已陆续开始预订哈尔滨、吉林等热门冰雪游目的地11月下旬至12月份的房源，同程旅行平台上 相关目的地的民宿预订热度平均同比增长超 ...

Summary of Changbai Mountain Conference Call Industry and Company Overview - The conference call focuses on the Changbai Mountain tourism industry, particularly its winter sports and scenic area operations. Key Points and Arguments 1. **Visitor Trends and Impact** - From November 2024 to February 2025, nearly 3 million mainland Chinese tourists are expected to visit Japan, with an average spending of approximately 13,000 RMB per person. Some of these tourists may shift to domestic ice and snow tourism, benefiting Changbai Mountain's visitor numbers [2][3]. 2. **Operational Enhancements for 2025** - Changbai Mountain and the Pinghu Ski Resort opened early on November 2, 2025, compared to mid to late December in previous years. The expansion of the western scenic area is expected to lead to a double-digit growth in visitor numbers, potentially reaching 20% [2][4]. 3. **Stock Performance and Market Sentiment** - The stock price of Changbai Mountain has not yet surpassed the pre-2024 winter peak, but there is increasing market attention and potential for further price catalysts [2][4]. 4. **Future Development Plans for 2026** - The North Slope Corridor project is set to open before the summer of 2026, which is expected to increase the North Slope's visitor capacity by 10%. Additionally, vehicle procurement will continue to enhance capacity during peak seasons [5][6]. 5. **Transportation Improvements** - The opening of the high-speed rail from Shenyang to Changbai Mountain will reduce travel time to the western scenic area to just 20 minutes, significantly increasing visitor flow. The southern slope's capacity is also expected to improve [6]. 6. **Profit Forecasts** - For 2025, profits are projected to be between 150 million to 160 million RMB, with expectations of 190 million RMB in 2026. The return of Japanese tourists could further enhance profitability [2][7]. Additional Important Insights - The early opening of the ski season and the expected increase in visitor capacity are critical factors that could lead to a successful winter season for Changbai Mountain [4][6]. - The potential shift of tourists from Japan to domestic destinations due to geopolitical tensions is a significant driver for Changbai Mountain's growth [3].

Group 1: Retail and Commercial Changes - The Iron West Vientiane Mall in Shenyang has undergone significant changes, with nearly half of the stores on the B2 level closed or under renovation, indicating a rapid turnover of retail brands [1][21] - New stores include the Northeast's first "AIECHIRE Butter Theme Store" and "BLUEGLASS Yogurt," while several others have relocated or closed, reflecting a dynamic retail environment [8][12][19] - The mall's food brand turnover is described as "terrifyingly fast," suggesting a competitive and evolving market landscape [21] Group 2: Real Estate Developments - The Zhongtian Group has opened a temporary exhibition hall for its first project in Shenyang, "Zhongtian·Central Residence," just two months after acquiring land, showcasing efficient execution in the real estate sector [23][24] - The project is part of a broader strategy to establish a presence in Shenyang, with a focus on high-quality residential offerings [25] - Other notable projects include "Fangda·Zhenyue" and "Shenyang Metro·Chongshan Heyue," both emphasizing prime locations and integrated living environments [29][31] Group 3: Urban Development Initiatives - The "South Canal (Peace Section) Comprehensive Upgrade Project" aims to revitalize the urban core of Shenyang, focusing on cultural and ecological integration rather than traditional demolition [34][35] - The project will create a new urban landmark, enhancing the city's cultural and commercial vitality through innovative space utilization [37][41] - Future developments will include a mix of public spaces, commercial areas, and artistic installations, promoting a vibrant urban lifestyle [39][42] Group 4: Tourism and Seasonal Trends - Shenyang ranks second in the list of popular domestic ice and snow tourism destinations for the 2025-2026 season, indicating a growing interest in winter tourism [54] - The report highlights a diversification of popular destinations, with traditional locations like Harbin and Shenyang maintaining their appeal while new areas gain traction [55] - Ice sports and cultural tourism are identified as key trends driving consumer interest in winter travel [55]

Market Overview - A-shares experienced slight fluctuations with the main board performing better, as the Shanghai Composite Index rose by 0.53% to 4018.60, and the Shenzhen Component Index increased by 0.18% to 13427.61 [1][2] - The market turnover expanded to 2.19 trillion yuan, indicating a moderate increase in trading activity [1] Sector Performance - The hotel and catering, leisure food, medical beauty, and liquor sectors saw significant gains, while forestry, engineering machinery, electric motor manufacturing, and wind power equipment sectors faced declines [2] - The food and beverage industry attracted over 10 billion yuan in net inflows, with pharmaceuticals receiving over 7.2 billion yuan, and basic chemicals over 6.1 billion yuan [2] Future Market Outlook - Ping An Securities suggests that the current high-level fluctuations in A-shares are preparing for a mid-term upward trend, supported by positive economic expectations and stable institutional advantages [3] - Haitong International notes that the market's trading volume has not effectively increased, awaiting new catalysts for upward breakthroughs, particularly in the consumer and real estate sectors [3] Hot Stocks and Trends - The tourism sector saw a strong rally, with hotel and catering stocks leading the charge, as the sector index surged over 7%, marking the largest single-day increase in over a year [3][4] - The release of the 2026 holiday schedule led to a significant increase in domestic flight and hotel search volumes, with some searches doubling compared to the previous day [6] - The liquor sector experienced a collective rise, with the index increasing over 3%, the largest gain in eight months, driven by stocks like Shede Spirits and JiuGui Liquor hitting the daily limit [6][7] Investment Insights - The structural adjustment of the economy is enhancing the role of consumption, which is expected to provide long-term recovery potential for the liquor market [7] - The MACD golden cross signal formation indicates positive momentum for certain stocks, suggesting potential investment opportunities [8]