Core Insights - The "Su Super" league has significantly boosted local businesses in Changzhou, with a notable increase in consumer spending and engagement on platforms like Douyin [1][6]. Group 1: Business Impact - Douyin group purchase orders in Changzhou increased by 42% from June 21 to 22, with restaurant orders rising over 56% during the same period [1]. - The "土味" sponsor, Dongha Northeast Street Barbecue, saw a staggering 3074-fold increase in Douyin search volume, along with a 732-fold increase compared to the previous period [1]. - The "小恐龙" from the Changzhou China Dinosaur Park gained popularity, leading to a 125% increase in weekend group purchase orders for the park [4]. Group 2: Promotional Activities - The Tianmu Lake scenic area launched a promotional campaign offering free admission to bald visitors, which resulted in a 456% increase in Douyin live broadcast orders from June 21 to 22 [6]. - The Tianmu Lake also introduced special ticket offers, including children's tickets priced as low as 0.1 yuan, attracting significant attention [6]. - Douyin's initiative "Follow Su Super to Explore Jiangsu" aims to enhance business growth for Jiangsu merchants, leading to a 225% increase in leisure and sports group purchase orders and an 181% increase in in-store spending [6].

Core Viewpoint - The event "Cultural and Tourism Consumption Month" aims to stimulate the cultural, tourism, and commercial sectors through innovative mechanisms, including the distribution of over 1 million consumption vouchers, to boost regional economic activity [2][6]. Group 1: Event Overview - The event was launched on June 20 at the Longhua District Future City Exhibition Hall, featuring online distribution of over 1 million cultural and tourism consumption vouchers and a three-day market event at the Hongshan 6979 business district [2][3]. - The initiative is designed to create a "government platform, merchant discounts, and union subsidies" model to enhance consumer engagement and economic recovery [2][6]. Group 2: Consumption Vouchers - The consumption vouchers are divided into two main categories: "Enjoy Beautiful Accommodation" and "Play in Longhua," covering various local hotels and attractions [3]. - For example, a regular two-hour ski ticket at Karu Ice World priced at 208 yuan can be purchased for only 148 yuan using a 200 yuan discount voucher [3]. Group 3: Market Activities - The launch event included a live broadcast on multiple official platforms, with 6,600 vouchers released, leading to a rush for the vouchers [4]. - The market event featured product displays, interactive experiences, and live performances, attracting thousands of participants and creating a vibrant consumer atmosphere [4]. Group 4: Business Collaborations - The event also involved partnerships with real estate and automotive companies, offering additional discounts and benefits, such as a 2% discount on home purchases and a 2,000 yuan fuel card with car purchases [4]. - This cross-industry collaboration aims to create new consumer scenarios by integrating cultural tourism with real estate and automotive sectors [4]. Group 5: Long-term Strategy - The Longhua District Cultural, Radio, Television, Tourism, and Sports Bureau emphasizes the importance of cultural and tourism integration for economic growth and plans to continue promoting such initiatives [5][6]. - Future activities will include launching a must-try food list, developing concert economies, and creating unique travel routes to enhance tourism offerings and consumer engagement [6].

Core Points - Hainan Province is launching a dining coupon initiative specifically for concert attendees, offering a discount of 30 yuan on a minimum spend of 150 yuan [2] - The coupon distribution period is from June 13 to June 22, available through the Cloud Flash Payment APP, and can be used at over 1,000 participating restaurants in Hainan [2] - The initiative aims to enhance the concert experience for fans while boosting local dining consumption [2] Group 1: Dining Coupons - The dining coupons include various denominations, such as "150 yuan off 30 yuan," "30 yuan off 5 yuan," and the newly introduced concert-specific coupon [2] - The coupons can be combined with other in-store promotions, making them more attractive to consumers [2] Group 2: Additional Offers for Concert Attendees - The Haikou City Tourism and Cultural Industry Development Association has partnered with local businesses to provide exclusive offers for Eason Chan's fans, including free entry to certain attractions with concert ticket proof [3] - Various discounts are available at hotels and restaurants for concert ticket holders, including a 50% discount at any store under the Royal Horse Group [3] - Transportation benefits include free rides for fans who share their concert ticket proof on social media platforms [3]

Group 1 - The graduation travel trend is set to rise as various scenic spots across the country offer discounts for high school graduates and their parents, enhancing the celebratory atmosphere of the graduation season [1][2] - Discounts for high school and college entrance examination students are available from mid-June to August, with many scenic areas providing free admission [2] - Specific examples include free entry for students at various locations such as the Huizhou Ancient City and Jiuhua Mountain from June to August, as well as discounts for accompanying parents [2] Group 2 - Theme parks are popular destinations for students post-exams, with significant discounts on tickets, such as 40-50% off at Guangzhou Sunac Parks from June 9 to July 6 [3] - The Guangzhou Tower Theater offers a 30% discount on tickets for a musical for students with valid examination permits, promoting cultural engagement during the graduation season [3] - Local restaurants and hotels are also providing exclusive dining packages and themed events to celebrate graduation, enhancing the overall experience for students [3]

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].

以票根为媒介激活消费潜力，不仅得益于区域演出市场的繁荣，更折射出全国消费升级需求在特定场景 下的集中迸发。未来的消费竞争不再是景点与景点的单点比拼，而是生态与生态的系统较量。随着技术 与生态完善，票根有望成为连接供需的数字纽带，推动消费市场从规模扩张向质量提升转型。 这些挑战也是传统消费模式向数字化、生态化转型的共性难题，票根经济要实现持续健康发展需在三个 维度迭代升级。 机制上，建立动态激励体系，依据酒店景区的票根核销率、消费转化率给予额外奖励，引导企业从被动 参与转向主动运营。比如，杭州"文旅消费积分"模式可资借鉴——将票根消费与城市积分体系挂钩，赋 予积分兑换公共服务等附加价值，增强用户黏性。 技术上，构建统一的文旅消费数据中台，整合演出票务、酒店预订、景区票务等平台，建立标准化接口 与认证体系，实现票根信息跨区域流通，使区域特惠升级为全国通兑。 生态上，票根经济本质是对体验经济的具象实践。当一张票根能串联城市文化地标、商业设施与生活场 景，它便不再是消费终点，而成为探索城市的起点。 未来的消费竞争不再是景点与景点的单点比拼，而是生态与生态的系统较量。随着技术与生态完善，票 根有望成为连接供需的数字纽带 ...

Core Viewpoint - The initiative to boost tourism consumption through performance ticketing in Pudong aims to enhance the integration of cultural and tourism industries, creating a vibrant economic ecosystem that attracts visitors and encourages spending [1][2][3] Group 1: Event and Economic Impact - Pudong will host nearly 100 performances from May 30 to September 30, with ticket purchases on designated platforms allowing discounts on hotels and attractions [1] - The initiative is expected to increase not only ticket sales but also boost related sectors such as accommodation, dining, transportation, and shopping [1] - Large-scale performances account for nearly 70% of Shanghai's performing arts market, showcasing Pudong's unique advantages in the ticketing economy [2] Group 2: Financial Incentives and Collaborations - A "golden combination" of 30% government subsidies and 20% discounts from participating hotels and attractions will provide significant savings for consumers [2] - The initiative includes a "half-price package" for consumers, enhancing the attractiveness of Pudong's cultural offerings [2] Group 3: Technological and Operational Support - Pudong is developing a comprehensive technical support system to ensure accurate identification and redemption of ticketing information, addressing previous challenges in cross-industry data sharing [3] - The region aims to create a "real-name closed loop" for cultural tourism consumption, enhancing the overall visitor experience [3] Group 4: Future Development and Vision - Pudong plans to adopt a more open approach with diverse scenarios and high-quality services, positioning itself as a leading destination for cultural tourism in Shanghai [3]

Group 1 - The Hong Kong consumer sector is actively performing, with the CSI Hong Kong Stock Connect Consumer Theme Index showing a strong upward trend [1] - The Hong Kong Consumer ETF (159735) increased by 1.36%, with a trading volume exceeding 27 million and a turnover rate over 4% [1] - Key stocks in the consumer sector include Smoore International, XPeng Motors, Pop Mart, Geely Automobile, Li Auto, and Xiaomi, all showing significant gains [1] Group 2 - The Ministry of Commerce has launched the 2025 "Service Consumption Season" to promote integrated development in various sectors such as tourism, food, sports, and digital services [1] - The initiative aims to stimulate service consumption through promotional activities, experience events, and skill competitions, enhancing supply quality and unlocking consumption potential [1] - Citic Securities forecasts a high certainty of continued leisure tourism demand into 2025, with a focus on the recovery of the service sector and experience-based consumption [2] - Citic Jian Investment highlights the stable performance of the food and beverage sector in Q1, with a positive outlook on the recovery of consumption driven by government initiatives [2]

Group 1 - The "Follow the Performance Tour in Pudong" initiative aims to boost tourism consumption by encouraging audiences to stay longer and engage in more activities in Pudong, with nearly 100 performances participating in the program until September 30 [1] - Consumers purchasing tickets from designated platforms can redeem discounts on hotels and attractions, with a maximum discount of 1,000 yuan for hotel stays and 100 yuan for attraction tickets [1] - The concert industry significantly impacts local consumption, with a reported ratio of 1:4.8 in ticket revenue to local spending, and 83% of concertgoers planning related travel in 2024 [1] Group 2 - Hotels and attractions participating in the initiative express optimism about the potential for increased bookings and dining revenue, particularly on weekends [2] - Specific services are being tailored for concert attendees, including extended restaurant hours and late-night snack options to enhance the overall experience [2] - The "ticket root economy" is expected to positively influence cultural value and extend the tourism consumption chain, with attractions like the Oriental Pearl Tower planning to offer ticket discounts and promotional activities [2]

Core Insights - Ctrip's 2025 Dragon Boat Festival tourism report indicates a strong recovery in the tourism market, particularly in Shandong province, with hotel prices decreasing compared to the May Day holiday [1] Group 1: Shandong Tourism Market - Shandong's hotel order volume increased by 12% year-on-year during the Dragon Boat Festival, highlighting its strong appeal to tourists [2] - Major sources of visitors to Shandong include Beijing, Shanghai, Tianjin, Nanjing, and Shijiazhuang, which form the backbone of the tourism market [2] - Popular attractions in Shandong include Mount Tai, Baotu Spring, and Laoshan, known for their unique natural beauty and rich cultural heritage [2] Group 2: Jinan's Tourism Performance - Jinan's hotel order volume grew by 8% year-on-year, placing it in the top 8 domestic surrounding travel destinations [3] - Key visitor sources for Jinan are Beijing, Qingdao, Weifang, Tianjin, and Yantai [3] - Notable attractions in Jinan include Baotu Spring, Jinan Fantawild Oriental Heritage, and the First Spring in the World, which attract many visitors [3] Group 3: Qingdao's Tourism Growth - Qingdao's hotel order volume rose by 6% year-on-year, making it one of the popular domestic travel destinations [5] - Main sources of tourists to Qingdao are Beijing, Jinan, Shanghai, Weifang, and Yantai [5] - Key attractions in Qingdao include Laoshan, Qingdao Beer Museum, and Qingdao Forest Wild Animal World, which are popular among tourists [5] Group 4: Tai'an's Ticket Sales Surge - Tai'an's ticket order volume increased by 214% year-on-year, leading the domestic scenic area ticket sales growth [7] - Major visitor sources for Tai'an include Jinan, Beijing, Shanghai, Tianjin, and Qingdao [7] - Popular sites in Tai'an include Mount Tai, Dai Temple, and the Tai'an Underground Dragon Palace, known for their stunning natural scenery and cultural significance [7] Group 5: Rizhao's Tourism Recovery - Rizhao's hotel order volume grew by 13% year-on-year, ranking 7th in domestic scenic area ticket sales growth [8] - Key sources of visitors to Rizhao are Qingdao, Shanghai, Jinan, Linyi, and Beijing [8] - Notable attractions in Rizhao include the Rizhao Kaiyuan Senbo Resort, Rizhao Ocean Park, and Sunrise Oriental Sea Show, which are favored by families [8]