Group 1 - The State Council announced the holiday schedule for 2026, including a 3-day New Year holiday from January 1 to 3 and a 9-day Spring Festival holiday from February 15 to 23, marking the longest Spring Festival holiday in history [1][4] - Following the announcement, there was a significant increase in travel-related searches, with train ticket and international flight searches doubling within half an hour, and flight searches for the Spring Festival increasing threefold [4][6] - Meituan Travel reported a 235% year-on-year increase in flight bookings for the Spring Festival on November 5, indicating a strong market interest in travel during this period [4][6] Group 2 - The top ten domestic travel destinations during the Spring Festival include cities like Shanghai, Harbin, Kunming, and Beijing, with notable increases in searches for flights from Shanghai to northeastern cities [6][7] - The Spring Festival holiday is also driving an increase in "winter escape" travel, with destinations like Kunming, Chengdu, and Sanya becoming popular for travelers seeking warmer climates [6][7] - There is a trend where early ticket purchases can lead to higher prices, while last-minute tickets may be cheaper, particularly for less popular flights, highlighting the complexities of flight pricing strategies [7][8]

Core Viewpoint - Ctrip Group-S (09961.HK) announced that its audit committee will hold a meeting on November 17, 2025, to approve the financial results for the three months ending September 30, 2025, and to publish these results [1] Group 1 - The meeting of the audit committee is scheduled for November 17, 2025 [1] - The financial results will cover the period ending September 30, 2025 [1] - The company plans to announce its financial performance on November 18, 2025, before trading hours on the Hong Kong Stock Exchange [1]

据飞猪此前消息，今年双11飞猪官方直播间加大在微信视频号、小红书等平台的投入力度，多元化的渠 道和更契合的种草内容进一步催化了机票次卡的销售。以小红书平台为例，截至目前飞猪官方直播间已 诞生多个成交额千万级的机票次卡爆款。 "机票卡相对来说价格更优惠、可选航班多，时间不合适了也能无损退。"来自北京的刘女士今年双11在 飞猪小红书官方直播间下单了两张飞东南亚、一张飞日本的机票次卡，"已经预约好了航班，准备和朋 友12月一起去日本玩。" 每年双11，即买即约的机票次卡都是消费者囤旅游购物车里的"常客"。据飞猪消息，截至11月4日24 时，双11机票次卡、随心飞类商品已累计售出超60万件，其中跨境机票次卡占比近八成。 南航国际单人经济舱含税机票卡、全日空经济舱双人含税机票卡、东航全球飞单人往返经济舱含税机票 卡、国航飞全球单人往返经济舱含税机票卡、日本航空经济舱单人往返含税机票卡等十多个活动商品成 为爆款，销量均超过1万件。其中，南航国际单人经济舱含税机票卡单品销量超过9万件。 近几年首次参与飞猪双11的国泰航空和亚洲航空也取得不俗成绩。飞猪数据显示，包括国泰航空经济舱 单人单程含税机票卡、国泰航空经济舱双人同行往 ...

Core Insights - The latest data from Meituan Travel indicates a significant increase in flight bookings during the Spring Festival, with a year-on-year growth of 235%, highlighting strong market enthusiasm [1] - Flight search volumes for both New Year's Day and the Spring Festival have shown a "double-line growth" trend, with New Year's flight searches up by 167% and Spring Festival searches up by 156% [1] - The data reflects consumers' strong willingness to plan long vacations in advance, as many have also booked train tickets through Meituan [1] Travel Trends - The top ten domestic travel destinations during the Spring Festival include: Shanghai, Harbin, Kunming, Beijing, Chengdu, Sanya, Shenzhen, Haikou, Guangzhou, and Changchun [1] - Popular flight routes include: Ningbo to Kunming, Shanghai to Chengdu, Shanghai to Harbin, Guangzhou to Beijing, Shanghai to Changchun, and Shenzhen to Xi'an [1] - There is a notable increase in search interest for flights from Shanghai to northeastern cities like Harbin and Changchun, indicating that Shanghai is becoming a key source of travelers heading to the northeast for the New Year [1] - The Spring Festival is driving an increase in "winter escape" tourism, with destinations like Kunming, Chengdu, and Sanya becoming popular for travelers heading south [1]

Group 1 - The core theme of the news is the deep collaboration between Ctrip Group and the China International Import Expo, showcasing its innovative inbound tourism services and commitment to enhancing the travel experience for international visitors [1][5] - Ctrip Group is recognized as the "official travel service partner" for the expo, providing comprehensive services including flight bookings, hotel accommodations, and local experiences, highlighting its strength as a leading global travel service provider [1][3] - Inbound tourism continues to thrive, with Ctrip reporting over 100% growth in flight segments and hotel nights for foreign visitors compared to the previous year, and a remarkable 300% increase in ticket sales [1][3] Group 2 - The establishment of China's first one-stop inbound tourism consultation center aims to provide extensive services for overseas tourists, promoting a cross-industry collaboration model [3] - The "Go China" annual marketing campaign achieved over 500 million global exposures, while the new "FLiP !T Trips" initiative invites over a thousand international influencers to experience various local cultures [3] - Ctrip's "free city half-day tour" program has successfully hosted over 10,000 tourists from more than 100 countries, enhancing long-term travel interest [3][5] Group 3 - Ctrip Group's exhibition at the expo also emphasizes its multi-dimensional practices in ESG and corporate sustainability, focusing on carbon reduction in tourism, family-friendly travel services, and community inclusivity [5] - The company plans to continue investing in innovation, leveraging technology and global partnerships to enhance inbound tourism services and promote a more open and friendly image of China [5]

Core Insights - The announcement of the longest Spring Festival holiday in 2026, from February 15 to 23, has led to a significant increase in travel-related searches and bookings, indicating a strong demand for travel during this period [1][2]. Group 1: Travel Demand and Booking Trends - The search volume for train and international flight tickets during the New Year and Spring Festival periods has doubled within half an hour of the announcement, with flight searches for the Spring Festival increasing threefold [1]. - As of November 4, 2026, domestic flight and hotel searches for February 14 and 15 have more than doubled compared to the previous day, with travelers already booking tickets for destinations like Haikou, Sanya, and international locations such as Hong Kong and Seoul [1][2]. - The number of booked flights for the 2026 Spring Festival is expected to increase by 63% compared to the previous year, reflecting a growing trend in travel during this extended holiday [1]. Group 2: Impact of Extended Holiday on Travel Behavior - The extended holiday is anticipated to facilitate staggered travel, leading to a more balanced daily passenger flow and a comfortable travel experience, with overall travel orders and volumes expected to reach new highs [2]. - The implementation of longer holidays, including "spring and autumn breaks" and "snow holidays," is seen as a tool to enhance regional consumption and population mobility [2]. - The increased holiday duration not only allows for family reunions but also provides opportunities for diverse travel arrangements, including long-distance domestic and outbound tourism [2].

Core Insights - The announcement of the 2026 holiday schedule has led to a significant increase in ticket searches for the New Year and Spring Festival, with Spring Festival being the longest in history, lasting from February 15 to 23, totaling 9 days [1][3][4]. Group 1: Holiday Schedule and Search Trends - The New Year holiday will be from January 1 to 3, 2026, and the Spring Festival holiday will be from February 15 to 23, 2026, marking the longest Spring Festival ever [3]. - Within half an hour of the announcement, searches for train tickets and international flights during the New Year and Spring Festival surged, with Spring Festival flight searches increasing threefold [1][3]. - Data from Qunar indicates that as of November 4, 2026, searches for domestic flights and hotels on February 14 and 15 have more than doubled compared to the previous day [3][4]. Group 2: Travel Destinations and Booking Trends - Popular domestic destinations for the Spring Festival include Haikou, Sanya, and Hangzhou, while international destinations include Hong Kong, Seoul, and Tokyo [3][4]. - The number of booked flights for the Spring Festival in 2026 is expected to increase by 63% compared to 2025 [4]. - Over 350 cities have travelers searching for Spring Festival travel options, with some modifying their travel plans to start on February 15 instead of February 16 [4]. Group 3: Impact on Travel Industry - The extended holiday is expected to lead to a record high in overall travel orders and passenger volume, with a more balanced daily flow of travelers [5][6]. - The holiday extension reflects a growing trend in using vacation policies to boost regional consumption and population mobility [6]. - The integration of AI tools in travel planning is becoming more prevalent, with travelers utilizing platforms like DeepTrip for itinerary planning [6].

Core Insights - The recent approval from the central bank has finalized the acquisition of multiple payment licenses, with Xinxing Payment being acquired by Tongcheng Travel and Yongyi Payment being taken over by Zhengkai Group [1][2][3] Group 1: Company Acquisitions - Tongcheng Travel has expanded its financial services by acquiring Xinxing Payment, which is the only licensed payment institution in Hainan Province, enhancing its licensing capabilities [1][3] - Zhengkai Group, a top 500 private enterprise in China, has acquired Yongyi Payment, which previously had a connection with Bilibili, highlighting the competitive landscape for payment licenses [1][4] Group 2: Strategic Importance of Payment Licenses - The acquisition of payment licenses is crucial for companies like Tongcheng Travel, as it reduces reliance on external payment channels, lowers transaction costs, and enhances fund settlement efficiency [6][7] - Payment licenses serve as a foundational support for commercial transactions, enabling companies to connect users, merchants, and scenarios, thus enhancing business synergy and ecosystem development [6][7] Group 3: Industry Trends - The trend of major internet companies acquiring payment licenses is becoming standard, as these licenses are essential for building comprehensive financial service platforms and improving digital capabilities [6][7] - The integration of payment services with other financial products, such as consumer finance and insurance, is seen as a strategic move to strengthen overall business operations and competitiveness in the digital economy [6][7]

Core Insights - China's online travel platform Qunar reported a surge in hotel bookings in ski resort areas as many ski resorts opened earlier than last year, with bookings increasing by 50% to 70% compared to the previous year [1] - The most popular winter travel destinations for ice and snow tourism include Harbin, Shenyang, Changchun, Hohhot, and Altay, Xinjiang, among others [1] - The demand for winter travel has evolved from traditional sightseeing to more immersive experiences, such as "ice and snow + research" and "ice and snow + intangible cultural heritage" [1][2] Group 1: Ski Resort Trends - Ski resorts in regions like Xinjiang, Hebei, and Jilin opened approximately half a month earlier than last year, leading to a significant increase in hotel bookings [1] - Activities such as hot pot in snow houses, ice fishing, and snowmobile rides are enhancing visitor experiences [1] - New offerings like snow meditation courses in collaboration with yoga institutions are being introduced to attract tourists [1] Group 2: International Tourism Growth - China has become a new destination for global ice and snow tourism, with a 13.58% year-on-year increase in flight bookings by non-Chinese passport holders from 101 cities [2] - Popular destinations for foreign tourists include Harbin, Dalian, Changchun, and Altay, with visitors primarily from Japan, South Korea, Vietnam, and several Western countries [2]

Core Insights - The State Council of China announced the holiday schedule for 2026, with the Spring Festival holiday from February 15 to February 23, totaling 9 days, and New Year's holiday from January 1 to January 3, totaling 3 days [1] Group 1: Travel Demand Surge - Following the announcement, there was a significant increase in ticket searches on travel platforms, with train ticket searches for the New Year and Spring Festival doubling within half an hour [1] - Flight searches for the Spring Festival period surged threefold, indicating heightened interest in travel during this extended holiday [1] - Data from Tongcheng Travel showed that searches for domestic flights and hotels on February 14 and 15 increased by over 100% compared to the previous day [1] Group 2: Popular Destinations - The top five domestic flight routes during the Spring Festival are: Shenzhen to Shanghai, Shanghai to Harbin, Harbin to Shanghai, Guangzhou to Shanghai, and Guangzhou to Changchun [1] - The most popular cities for accommodation during the holiday are Beijing, Shanghai, Harbin, Guangzhou, and Sanya, highlighting the appeal of winter travel destinations [1] Group 3: Booking Trends - Some travelers have already booked flights for the days leading up to the Spring Festival, with popular domestic destinations including Haikou, Sanya, and Hangzhou, and international destinations like Hong Kong, Seoul, and Tokyo [2] - The search volume for domestic travel during the Spring Festival is notably high for cities such as Sanya, Dali, Harbin, Haikou, and Xishuangbanna, while international interest has increased for Berlin, Busan, and Melbourne [2] Group 4: Impact of Extended Holidays - The extended Spring Festival holiday and pilot programs for "spring and autumn breaks" and "snow holidays" are seen as tools to enhance macroeconomic and regional consumption and population mobility [3] - The adoption of AI tools for travel planning is on the rise, with users utilizing platforms like Tongcheng Travel's DeepTrip for itinerary planning [3]