证券研究报告 | Table_Invest] [公司评级 | 买入 | | --- | --- | | 当前价格 | 13.26 元 | | 合理价值 | 16.88 元 | | 报告日期 | 2026-02-04 | 基本数据 [Table_BaseInfo] | 总股本/流通股本（百万股） | 729.38/729.38 | | --- | --- | | 总市值/流通市值（百万元） | 9671.57/9671.57 | | 一年内最高/最低（元） | 13.26/11.10 | | 30 日日均成交量/成交额（百万） | 12.71/155.00 | | 近 3 个月/6 个月涨跌幅（%） | 17.40/14.78 | [Table_Page] 公司深度研究|旅游及景区 [分析师： Table_Author]嵇文欣 SAC 执证号：S0260520050001 SFC CE No. BUA982 021-38003653 jiwenxin@gf.com.cn 分析师： 包晗 SAC 执证号：S0260522070001 021-38003651 baohan@gf.com.cn 请注意，包晗并非香港 ...

据了解，昂坪360为香港重要的旅游景点，是一个位于大屿山并结合大自然景观和文化探索的旅游新体 验。昂坪缆车的总长度为5.7公里，主要来往东涌和昂坪。昂坪缆车是亚洲最大型的架空双缆索缆车系 统，游客可在约25分钟的缆车旅程中欣赏北大屿郊野公园的自然生态、东涌湾、港珠澳大桥和香港国际 机场的辽阔美景。 据介绍，香港昂坪360于2026年迎来二十周年。昂坪360将推出一系列日夜连场庆祝活动，包括提供入夜 后搭乘缆车的机会，让游客能够在夜间从车厢内欣赏大屿山夜间美景，并参与昂坪市集的夜间音乐会， 更可以与香港标志性的霓虹灯装饰拍照。此外，昂坪360将针对春节等节日陆续开展一系列季节性活 动。 针对京津冀游客，昂坪360特别推出专享礼遇，2026年上半年，京津冀游客乘坐昂坪缆车专属福利包括 持有效缆车票到昂坪市集360旅游咨询中心，出示身份证或来往港澳通行证，即可免费升级昂坪至东涌 缆车。 北京商报讯（记者 吴其芸）2月3日，北京商报记者从香港昂坪360获悉，最新数据显示，与2019年相 比，2025年昂坪360日均接待内地游客人数上升8.1%，且每位游客的消费额显著增长15.4%。值得一提 的是，通过内地电商平台购票 ...

Core Insights - The tourism market in Liaoning Province experienced a significant increase during the three-day New Year holiday in 2025, with a year-on-year growth of 19.72% in visitor numbers and a 20.64% increase in overall tourism revenue [1] Group 1: Visitor Statistics - The total number of visitors received in Liaoning Province during the holiday period showed a year-on-year increase of 19.72% [1] - Key tourist attractions, ice and snow hot springs, and urban leisure projects saw concentrated visitor traffic [1] Group 2: Revenue and Economic Impact - The tourism sector achieved a comprehensive revenue growth of 20.64% compared to the previous year [1] - Average hotel occupancy rates in cities such as Shenyang, Dalian, and Anshan exceeded 80% during the holiday [1] Group 3: Related Consumption - Associated sectors such as transportation, dining, and retail also experienced a simultaneous uplift in consumption during the holiday period [1]

Core Insights - Chengdu's tourism market experienced significant growth during the New Year holiday, ranking as the second most popular travel destination in China and the top city for lantern festivals [1][2] - The city's offline consumption reached 171.2 billion yuan, with a year-on-year increase of 6.7%, and a notable 20.5% increase in foot traffic across major shopping districts [3] - The food and dining sector also saw substantial growth, with a 16% increase in retail sales among key restaurants during the holiday period [4] Group 1: Tourism Growth - Chengdu ranked second in the list of popular travel destinations during the New Year holiday, with a significant increase in searches for lantern festivals, particularly the Chengdu Lantern Festival [1] - The city saw a threefold increase in tourism bookings compared to last year, with ticket bookings growing approximately fourfold [1] - Chengdu was listed among the top five cities for inbound tourism, reflecting a strong interest from international visitors [2] Group 2: Consumer Spending - Total offline consumption in Chengdu reached 171.2 billion yuan, with a 6.7% year-on-year growth, driven by various promotional activities [3] - Major shopping districts recorded a total foot traffic of 850.1 million visits, marking a 20.5% increase compared to the previous year [3] - The "old for new" policy positively impacted consumer behavior, particularly in the home appliance and communication sectors, with growth rates of 4.6% and 9.7% respectively [3] Group 3: Food and Dining Sector - The dining sector experienced a 16% increase in retail sales among key restaurants, with online dining consumption rising by 98.1% [4] - Chengdu's food scene was highlighted in various rankings, showcasing its popularity and the significant increase in food-related searches during the holiday [4] - The "Food in Rongcheng" dining coupon initiative contributed to the accelerated growth in restaurant sales [4]

Core Insights - The core viewpoint of the article highlights a significant increase in consumer travel intentions and spending power during the New Year holiday, as reported by Fliggy's travel report for the 2026 New Year holiday [1] Group 1: Consumer Behavior - The average number of items purchased per consumer increased by over 20% year-on-year [1] - The average spending amount per consumer rose by more than 30% compared to last year [1] Group 2: Booking Trends - On January 1, the number of domestic hotel bookings surged by 280% year-on-year [1] - The booking volume for domestic destination leisure products increased by over 270% compared to the previous year [1]

Group 1 - The domestic tourism industry experienced a significant surge during the New Year's holiday, with hotel bookings increasing over three times compared to the same period last year [1][2] - The opening of Hainan Free Trade Port and the operation of the Shenyang-Baihe high-speed railway stimulated travel enthusiasm, leading to popular travel routes between northern and southern regions of China [1] - Major cities such as Beijing, Shanghai, and Guangzhou ranked among the top destinations for hotel bookings during the holiday period [2] Group 2 - The demand for travel was further fueled by various New Year's Eve events, including fireworks shows and music festivals, resulting in a more than 100% increase in ticket sales for events compared to the previous year [1] - The top ten cities for hotel bookings included Beijing, Shanghai, and Chongqing, indicating a strong recovery in the hospitality sector [2]

Core Insights - The core viewpoint of the article highlights the significant growth in travel spending and booking trends for the upcoming New Year holiday, indicating a robust recovery in the tourism sector [1] Group 1: Travel Spending Trends - The average spending per customer for the New Year holiday has increased by 10% compared to last year [1] - The number of items purchased per person has risen by 9% year-on-year [1] Group 2: Outbound Travel - Outbound travel continues to show strong momentum, with the booking volume for related products significantly surpassing the total bookings from the previous New Year holiday [1]

Group 1 - The core point of the article highlights the significant increase in flight operations and passenger traffic at Shanghai airports during the National Day and Mid-Autumn Festival holiday period, indicating a recovery in travel demand [1][4]. - During the holiday from October 1 to 8, Shanghai Pudong and Hongqiao airports together handled 19,000 flight takeoffs and landings, with an average of 2,448 flights per day, representing a year-on-year growth of 6.0% [1]. - The total number of passengers traveling in and out of the airports reached 3.251 million, with an average of 406,000 passengers per day, marking a year-on-year increase of 9.3% and setting a historical record for the National Day holiday [4]. Group 2 - The 8-day holiday period stimulated growth in both outbound and domestic long-distance tourism, with Shanghai emerging as a popular destination for foreign tourists due to the expanded visa-free policy [3].

Group 1 - During the National Day and Mid-Autumn Festival holiday, Tianjin received a total of 22.1959 million tourists, representing a year-on-year increase of 5.7% compared to the same period in 2024 [1] - Tourist spending in Tianjin reached 21.575 billion yuan, which is a year-on-year increase of 13.2% compared to the same period in 2024 [1]

Core Insights - The data released by Qunar Travel indicates a significant increase in domestic and international travel bookings for the 2025 National Day and Mid-Autumn Festival holidays, reflecting a strong recovery in the travel industry [1] Domestic Travel - Hotel booking volume in popular domestic cities has increased by over 20% year-on-year [1] International Travel - The booking volume for outbound flight tickets to popular destinations has surged by over 30% year-on-year, with a notable increase of over 50% among teenagers and university students [1] Inbound Travel - The volume of flight tickets booked for domestic flights using non-Chinese passports has grown by over 30% year-on-year, covering nearly 100 cities across the country [1]