Investment Rating - The report rates the social services industry as "Overweight" indicating a positive outlook for the sector [4]. Core Insights - The report highlights the resurgence of instant film photography, particularly the popularity of "Peel Apart" film and the new "Life Four Frames" photo booths, driven by nostalgia and unique consumer experiences [5][11]. - The scarcity of Peel Apart film, with global inventory dropping below 500,000 boxes, has led to a dramatic price increase, with prices soaring from around 65-70 RMB per pack to 2800-3300 RMB on second-hand platforms, earning it the nickname "Paper Moutai" [9][11]. - The "Life Four Frames" photo booths have modernized the traditional photo booth experience, offering various backgrounds and instant photo printing, appealing to younger consumers [11][12]. Summary by Sections 1. New Trends in Photography - Peel Apart film has gained immense popularity due to its unique aesthetic and the limited availability of products from major manufacturers like Polaroid and Fujifilm, which have ceased production [8][9]. - The "Life Four Frames" photo booths have evolved from traditional photo booths, providing a more interactive and customizable experience for users [11]. 2. Market Performance Review - The social services sector saw a 2.09% increase in its index from June 2 to June 6, outperforming the broader market [13]. - Key stocks in the social services sector, such as ST United and Jinling Hotel, experienced significant gains, with increases of 21.46% and 11.87% respectively [18]. 3. Company Announcements - Companies in the retail and social services sectors are actively engaging in stock buybacks and shareholder reduction plans, indicating a focus on enhancing shareholder value [26][27]. 4. Industry Developments - The report notes significant developments in the social services industry, including record passenger numbers during the Dragon Boat Festival, showcasing a recovery in travel and tourism [30]. - The introduction of new technologies and partnerships, such as the investment in Acai Travel by Amadeus, reflects ongoing innovation within the industry [30]. 5. Valuation of Key Companies - The report provides a detailed valuation of key companies in the human resources, tourism, and hotel sectors, indicating a favorable outlook for these industries as they recover from previous downturns [32][33].

Core Insights - The domestic and international aviation market demand remains strong during the "May Day" holiday period from May 1 to May 5, with the Eastern Airport Group expecting peak passenger and flight volumes since the second quarter began [1] Group 1: Domestic Aviation Market - The Eastern Airport Group anticipates a total passenger throughput of 738,000 during the holiday, representing a 10% year-on-year increase [1] - Daily peak passenger flow is expected to exceed 155,000, setting a historical high for the same period [1] - Key domestic routes such as Guangzhou, Shenzhen, and Chengdu are experiencing robust demand, with tourist routes to Sanya, Haikou, and Lijiang seeing increased popularity [8] Group 2: Airport Operations and Services - Various airports are enhancing services and increasing flight frequencies to popular tourist destinations, such as Nanjing Airport adding flights to Sanya and Dalian, and Xu Zhou Airport expecting over 90% seat occupancy on flights to Guangzhou and Haikou [8][9] - Special services are being implemented at airports, including volunteer assistance at check-in and security areas, and tailored services for children and special needs passengers [9] Group 3: International and Regional Travel - The easing of entry and transit visa policies, along with instant tax refund options, is expected to boost inbound and outbound passenger flow during the holiday [8] - Popular international destinations for travelers remain concentrated in Japan, South Korea, Hong Kong, Macau, and Southeast Asia [8]