从资金流向上来看，当日旅游及景区板块主力资金净流入2405.6万元，游资资金净流出1.07亿元，散户资 金净流入8252.14万元。旅游及景区板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000524 岭南控股 | | 2780.38万 | 9.91% | -762.14万 | -2.72% | -2018.24万 | -7.19% | | 000888 峨眉山 A | | 2435.45万 | 6.89% | -2143.60万 | -6.06% | -291.85万 | -0.83% | | 002707 众信旅游 | | 2015.84万 | 5.29% | -2776.46万 | -7.29% | 760.61万 | 2.00% | | 603402 陕西旅游 | | 1204.43万 | 3.23% | -798.08万 | -2.14% | -406.35万 | -1.09% | ...

旅游及景区 旅游及景区 2026 年 01 月 28 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -10% 0% 10% 19% 29% 38% 2025-01 2025-05 2025-09 旅游及景区 沪深300 相关研究报告 海南专题报告：风宜长物放眼量，自贸港赶海正当时 风险提示：宏观经济波动风险、政策落地不及预期、高端消费复苏不及预期。 ——行业深度报告 | 初敏（分析师） | 叶彬慧（联系人） | | --- | --- | | chumin@kysec.cn | yebinhui@kysec.cn | | 证书编号：S0790522080008 | 证书编号：S0790124070053 | yebinhui@kysec.cn 证书编号：S0790124070053 海南自贸港：双向循环战略支点，枢纽功能徐徐演进 开 源 证 券 证 券 研 海南自贸港是中央基于全球化格局深度调整、全球供应链加速重构背景，高标准 建设的中国特色自由贸易港，享有国内高规格、系统性的开放试验授权。对比全 球成熟的自贸港枢纽，依托内地超大规模统一市场的腹地优势和最大经济特区禀 赋，海南聚焦打造三大核心定位： ...

从资金流向上来看，当日旅游及景区板块主力资金净流出1.93亿元，游资资金净流出169.22万元，散户资 金净流入1.95亿元。旅游及景区板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600593 | 大连圣亚 | 47.38 | 2.98% | 9.03万 | 4.22亿 | | 002707 | 众信旅游 | 7.90 | 1.80% | 40.45万 | 3.18亿 | | 600054 | 黄山旅游 | 11.89 | 1.19% | 8.36万 | 9916.21万 | | 000610 | 西安旅游 | 12.50 | 0.48% | 6 9.41万 | 1.17亿 | | 603099 | 长自山 | 43.16 | 0.42% | 6.22万 | 2.69亿 | | 002059 | 云南旅游 | 5.42 | 0.37% | 10.89万 | 5889.49万 | | 600138 | 中青旅 | 9.72 | 0.21% | 14.55万 | 1.4 ...

证券之星消息，1月27日旅游及景区板块较上一交易日下跌1.65%，三峡旅游领跌。当日上证指数报收于 4139.9，上涨0.18%。深证成指报收于14329.91，上涨0.09%。旅游及景区板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002627 | 三峡旅游 | 9.02 | -5.25% | 45.09万 | 4.11亿 | | 6030aa | 长自山 | 42.98 | -3.87% | 10.22万 | 4.43 Z | | 603402 | 陕西旅游 | 154.18 | -3.58% | 2.29万 | 3.53亿 | | 600138 | 中青旅 | 9.70 | -2.90% | 1 25.69万 | 2.50亿 | | 000610 | 西安旅游 | 12.44 | -2.43% | 14.94万 | 1.86亿 | | 600749 | 西藏旅游 | 16.61 | -2.41% | 8.30万 | 1.38亿 | | 000978 | 桂林旅游 | ...

证券之星消息，1月26日旅游及景区板块较上一交易日下跌1.7%，众信旅游领跌。当日上证指数报收于 4132.61，下跌0.09%。深证成指报收于14316.64，下跌0.85%。旅游及景区板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002707 | 众信旅游 | 7.92 | -5.49% | 67.47万 | 5.42亿 | | 600749 | 西藏旅游 | 17.02 | -3.46% | 9.50万 | 1.63亿 | | 000796 | 凯撒旋业 | 6.09 | -3.03% | 68.55万 | 4.20亿 | | 603099 | 长自山 | 44.71 | -2.80% | 8.16万 | 3.67亿 | | 600576 | 祥源文旅 | 6.59 | -2.80% | 25.94万 | 1.71亿 | | 661809 | 九华旅游 | 42.55 | -2.41% | 3.32万 | 1.42亿 | | 000558 | 天府文旅 | 5.18 ...

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Investment Rating - The report maintains a "Recommendation" rating for the consumer services industry, expecting the industry index to outperform the benchmark index by more than 5% in the next 3-6 months [41]. Core Insights - The report highlights a significant increase in ticket bookings for domestic and international flights during the upcoming Spring Festival travel period, with domestic flight bookings exceeding 7.54 million, a year-on-year increase of approximately 12% [5]. - The Ministry of Finance and other departments have established a special guarantee plan with a scale of 500 billion yuan to support loans for small and micro enterprises, which is expected to leverage nearly 900 billion yuan in private investment [5]. - The report suggests that the pre-holiday booking window for the Spring Festival has opened, with positive year-on-year performance in flight bookings, particularly benefiting destinations like Hainan due to increased tourist flow [5]. - The report recommends monitoring changes in booking data for transportation and hotels leading up to the Spring Festival, as well as investment opportunities arising from policies promoting service consumption [5]. Industry Data - The consumer services industry consists of 55 listed companies with a total market capitalization of 498.8 billion yuan and a circulating market capitalization of 457.1 billion yuan [2]. - The industry experienced a weekly increase of 3.20%, outperforming the overall A-share market, which saw a 1.80% increase, while the CSI 300 index decreased by 0.62% [8][10]. - The report notes that the hotel and restaurant sectors showed positive performance, with hotel stocks rising by 3.69% and restaurant stocks by 3.31% during the reporting period [18]. Related Companies - Recommended companies include hotels with balanced supply and demand such as Junting Hotel, Jinjiang Hotel, and Huazhu Group, as well as human resources services like Core International and Beijing Renli [5]. - The report also highlights companies in the duty-free sector benefiting from new policies, such as China Duty Free Group and Zhuhai Duty Free Group [5]. - Other notable mentions include online and offline integrated platforms like Meituan and Alibaba, and innovative tourism companies like Three Gorges Tourism and Changbai Mountain [5].

Investment Rating - The report maintains a "Recommendation" rating for the consumer services industry, expecting the industry index to outperform the benchmark index by more than 5% in the next 3-6 months [41][43]. Core Insights - The report highlights a significant increase in ticket bookings for domestic and international flights during the upcoming Spring Festival travel period, with domestic flight bookings exceeding 7.54 million, a year-on-year increase of approximately 12% [5]. - The Ministry of Finance and other departments have established a special guarantee plan with a scale of 500 billion yuan to support loans for small and micro enterprises, which is expected to leverage nearly 900 billion yuan in private investment [5]. - The report suggests that the pre-holiday booking window for the Spring Festival has opened, with positive year-on-year performance in flight bookings, particularly benefiting destinations like Hainan due to increased tourist flow [5]. - The report recommends monitoring changes in booking data for transportation and hotels leading up to the Spring Festival, as well as the impact of service consumption-related policies on investment opportunities [5]. Industry Data - The consumer services industry consists of 55 listed companies with a total market capitalization of 498.8 billion yuan and a circulating market capitalization of 457.1 billion yuan [2]. - The absolute performance of the industry over the past month is -7.7%, while the relative performance is -6.9% [3]. Weekly Performance - The consumer services industry experienced a weekly increase of 3.20%, outperforming the overall A-share market, which saw a rise of 1.80%, and the CSI 300 index, which declined by 0.62% [8]. - Notable performers in the sector included SF City with a 34.27% increase and Jiuhua Tourism with a 10.89% increase [5]. Important Announcements - Beijing Human Resources reported a planned reduction of 1.698 million shares by a shareholder, amounting to 313 million yuan, reducing their stake to 5.8% [31]. - Guilin Tourism expects to turn a profit in 2025 with a projected net profit of 11 million yuan, driven by a 10% increase in tourist numbers [31]. - Jinling Hotel anticipates a net profit of 55 million to 63.5 million yuan in 2025, representing a year-on-year growth of 65.37% to 90.93% [31].

证券研究报告 社会服务 | 旅游及景区 非金融|首次覆盖报告 hyzqdatemark 2026 年 01 月 25 日 证券分析师 丁一 SAC：S1350524040003 dingyi@huayuanstock.com 李禹蒙 liyumeng@huayuanstock.com 市场表现： | 基本数据 | | 年 | 01 | | | 月 | | 日 | | | 2026 | 20 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | | | | 13.11 | | | | | | | | 年 内 最 最 低 | / | | | 高 | | | | | | | | 17.77/9.22 | 一 | | （元） | | | | | | | | | | | | | | | 总市值（百万元） | | | | | | | | | 8,786.43 | | | | | | 流通市值（百万元） | | | | | | | | | 8,783.03 | | ...

证券之星消息，1月23日旅游及景区板块较上一交易日上涨0.42%，三峡旅游领涨。当日上证指数报收于 4136.16，上涨0.33%。深证成指报收于14439.66，上涨0.79%。旅游及景区板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002627 | 三峡旅游 | 9.70 | 3.63% | 34.95万 | 3.41亿 | | 002707 | 众信旅游 | 8.38 | 2.07% | 56.17万 | 4.69亿 | | 600749 | 四藏旅游 | 17.63 | 1.97% | 7.00万 | 1.22亿 | | 661809 | 九华旅游 | 43.60 | 1.89% | 5.92万 | 2.58亿 | | 300859 | 西域旅游 | 39.12 | 1.77% | 6.18万 | 2.40亿 | | 600593 | 大连圣亚 | 46.77 | 1.08% | 7.67万 | 3.54亿 | | 600576 | 祥源文旅 | 6.78 | 0 ...