证券之星消息，8月1日旅游及景区板块较上一交易日下跌0.24%，西域旅游领跌。当日上证指数报收于 3559.95，下跌0.37%。深证成指报收于10991.32，下跌0.17%。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) | | --- | --- | --- | --- | --- | --- | | 000558 | 天府文旅 | 7.37 | 10.00% | 327.07万 | 23.01亿 | | 000430 | ST张家界 | 7.18 | 1.27% | 3.37万 | 2404.46万 | | 600706 | 曲江文旅 | 10.51 | 1.25% | 9.13万 | 9480.64万 | | 000888 | 峨眉山Ａ | 14.25 | 0.35% | 16.94万 | 2.39亿 | | 600749 | 西藏旅游 | 28.20 | 0.00% | 67.81万 | 17.80亿 | | 000978 | 桂林旅游 | 6.46 | -0.15% | 7.79万 | 5036.22万 | | 600054 | 黄 ...

青岛银行：上半年净利润30.65亿元 同比增长16.05% 8月1日，青岛银行（002948）发布2025年半年度快报，公司上半年实现营业收入76.62亿元，同比增长 7.50%；实现归属于母公司股东的净利润30.65亿元，同比增长16.05%。 资料显示，青岛银行成立于1996年11月，主营业务是向客户提供公司及个人存款、贷款、支付结算等服 务和产品。 所属行业：银行–城商行Ⅱ–城商行Ⅲ 富安娜：拟5585万–1.04亿元回购公司股份 8月1日，富安娜（002327）发布公告称，公司计划以集中竞价交易方式回购公司股份，回购资金总额不 低于5585万元且不超过1.04亿元，回购价格不超过11元/股。回购的股份将全部用于实施员工持股计划或 股权激励计划。 资料显示，富安娜成立于1994年8月，主营业务是纺织家居、睡眠家居、生活类产品的研发、设计、生 产及销售。 所属行业：纺织服饰–服装家纺–家纺 资料显示，正丹股份成立于2007年1月，主营业务是高端环保新材料和特种精细化学品的研发、生产和 销售。 所属行业：基础化工–化学制品–其他化学制品 汇绿生态：控股子公司拟增加投资额度至8亿元建设光模块生产基地 8月1日 ...

7月31日晚，微芯生物（688321）发布公告称，公司的全资子公司微芯生物科技（美国）有限公司于7月 31日收到美国食品药品监督管理局（简称"FDA"）签发的关于允许公司自主研发的CS231295开展治疗 晚期实体瘤的I期临床试验的通知。CS231295是一种透脑Aurora B选择性抑制剂，具有良好的血脑屏障 穿透能力，对脑部原发或脑转移性肿瘤具有明显治疗优势。 资料显示，微芯生物成立于2001年8月，主营业务是药物技术开发、相关成果商业应用。 捷佳伟创：上半年净利润预增38.65%–59.85% 7月31日晚，捷佳伟创（300724）发布2025年半年度预告，公司预计上半年实现归属于上市公司股东的 净利润17亿元至19.6亿元，同比增长38.65%至59.85%；预计实现扣除非经常性损益后的净利润15.49亿 元至18.09亿元，同比增长31.37%至53.41%。 资料显示，捷佳伟创成立于2007年6月，主营业务是太阳能电池设备研发、生产和销售。 所属行业：电力设备–光伏设备–光伏加工设备 微芯生物：CS231295临床试验申请获FDA批准 所属行业：医药生物–化学制药–化学制剂 中国石化：上半年净利润 ...

Group 1 - The State-owned Assets Supervision and Administration Commission announced the establishment of China Chang'an Automobile Group Co., Ltd., which will be managed by the State Council [2] - The Hong Kong Monetary Authority released documents regarding the regulatory framework for stablecoin issuers, effective from August 1, 2025 [3] - The Ministry of Finance reported that from January to June 2025, state-owned enterprises had total operating revenue of 4,074.96 billion yuan, a year-on-year decrease of 0.2% [3] Group 2 - Zhejiang Province's Science and Technology Department proposed measures to enhance financial support for innovation, aiming for 80% of new listed companies in the technology sector by 2027 [4] - Companies such as Chang'an Automobile and Dong'an Power have undergone changes in their indirect controlling shareholders to China Chang'an Automobile [6] - Shijia Photon reported a net profit of 217 million yuan for the first half of the year, a year-on-year increase of 1712% [6]

从资金流向上来看，当日旅游及景区板块主力资金净流出2.85亿元，游资资金净流入235.21万元，散户 资金净流入2.83亿元。旅游及景区板块个股资金流向见下表： 证券之星消息，7月29日旅游及景区板块较上一交易日上涨0.27%，西藏旅游领涨。当日上证指数报收 于3609.71，上涨0.33%。深证成指报收于11289.41，上涨0.64%。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) | | --- | --- | --- | --- | --- | --- | | 600749 | 西藏旅游 | 23.31 | 10.00% | 3.99万 | 9295.36万 | | 000558 | 天府文旅 | 5.99 | 4.90% | 305.55万 | 17.72亿 | | 000796 | 凯撒旅业 | 5.16 | 2.99% | 235.36万 | 12.28 Z | | 300859 | 西域旅游 | 38.30 | 0.55% | 6 6.29万 | 2.40亿 | | 000430 | ST张家界 | 7.25 | 0.28% | ...

瑞联新材：拟终止渭南瑞联制药有限责任公司原料药项目 7月29日，瑞联新材（688550）发布公告称，公司拟终止渭南瑞联制药有限责任公司原料药项目（简 称"原料药项目"），综合考虑二期工程建设时间节点的不确定性，公司拟终止原料药项目的整体建设， 待二期产品方案明确后使用自有资金推进二期项目工程建设。 资料显示，瑞联新材成立于1999年4月，主营业务是研发、生产和销售专用有机新材料。 所属行业：电子–电子化学品Ⅱ–电子化学品Ⅲ 海大集团：上半年净利润26.39亿元 同比增长24.16% 7月29日，海大集团（002311）发布2025年半年度报告，公司上半年实现营业收入588.31亿元，同比增 长12.50%；实现归属于上市公司股东的净利润26.39亿元，同比增长24.16%。 资料显示，海大集团成立于2004年1月，主营业务是围绕动物养殖提供整体解决方案进行产业链业务布 局。 所属行业：医药生物–化学制药–化学制剂 金城医药：子公司获得磷酸奥司他韦化学原料药CEP证书 7月29日，金城医药（300233）发布公告称，公司之全资子公司北京金城泰尔制药有限公司于近日收到 欧洲药品质量管理局（EDQM）核准签发的磷酸 ...

Investment Rating - The industry is rated as "Outperforming the Market" with an expected relative increase of over 10% in the next six months compared to the market index [25]. Core Insights - As of July 25, 2025, 31 listed companies in the social service sector have released their performance forecasts for the first half of 2025, with a disclosure rate of 39%. The overall pre-profit rate stands at 55%, ranking fourth among eight major consumption sectors [1][2][23]. - The sector is expected to support stable economic growth through consumption stimulation and expansion of domestic demand. The potential of lower-tier markets continues to be released, while overseas expansion opens up new growth opportunities. Service consumption is approaching a critical point of 50%, likely accelerating its role as the main component of household consumption [1][23]. Summary by Sections Disclosure Rate and Performance - The social service industry has a disclosure rate of 39%, ranking third among the eight major consumption sectors. Out of 80 A-share companies, 31 have published performance forecasts, with 17 companies expected to be profitable, resulting in a pre-profit rate of 55% [2][10]. - The performance differentiation is notable, with the proportion of companies expecting profit increases or slight increases significantly declining to 13% and 6%, respectively. Additionally, 19% of companies are expected to turn losses into profits, an increase of 11 percentage points compared to the first half of 2024 [2][10]. Sector Performance - Service sectors are performing better, with over half of the companies in sports, hotel and catering, tourism and scenic spots, and education disclosing their half-year results. The education sector shows a pre-profit rate of 63%, indicating marginal improvement, while the tourism sector faces pressure with pre-profit rates of 40% and 36% for hotel and catering, and tourism and scenic spots, respectively [3][14]. - The tourism and scenic spots sector continues to face challenges, with the proportion of companies expecting profit increases dropping from 29% to 9%, while the proportion of companies continuing to incur losses has risen to 45%. However, 18% of companies have shown signs of recovery [3][15]. Investment Recommendations - The report suggests focusing on companies with scale effects and significant performance elasticity in the chain catering sector, stable operators in natural scenic spots and ice and snow tourism, travel agencies benefiting from the recovery of customer flow, and duty-free retailers driven by both policy and demand [1][23].

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4]. Core Views - The company is positioned as a leading player in the outbound group travel industry, with ongoing business recovery and an expanding layout [3][14]. - The domestic and outbound/inbound tourism industries are experiencing steady growth, with significant recovery following unconventional cycles [10][34]. - The company benefits from a robust supply chain, strong cash reserves, and a comprehensive online and offline channel strategy [3][10]. Summary by Sections Industry Overview - The outbound tourism penetration rate in China has been increasing, reaching 11.0% in 2019, but still lags behind developed countries like the US and South Korea [2]. - The outbound tourism market is characterized by a predominance of young, highly educated travelers who prefer personalized and customized experiences [2][10]. - The inbound tourism sector is supported by favorable policies and increased payment facilitation measures, enhancing the willingness of foreign tourists to visit China [1][10]. Company Positioning - The company operates in the midstream of the outbound tourism industry, primarily benefiting from industry growth and its leading market position [2][10]. - The company has maintained its core team and supply chain, enabling a swift recovery post-pandemic [3][10]. - The company has a strong brand value and resource integration capability, with plans to expand its retail business through a franchise model [3][10]. Financial Projections - Revenue is projected to grow significantly, with estimates of CNY 75.00 billion, CNY 87.35 billion, and CNY 103.39 billion for 2025, 2026, and 2027 respectively [3][8]. - The company is expected to achieve a net profit of CNY 1.16 billion, CNY 1.55 billion, and CNY 1.94 billion for the same years, reflecting a strong recovery trajectory [3][8]. - The projected P/E ratios for 2025, 2026, and 2027 are 67.2X, 50.4X, and 40.2X respectively, indicating a favorable valuation outlook [3][8].

Investment Rating - The report maintains an "Outperform" rating for the social services industry, expecting it to perform better than the benchmark index in the next 6-12 months [2][48]. Core Insights - The social services sector saw a 3.18% increase in the last two trading weeks, ranking 9th among 31 sectors in the Shenwan classification, outperforming the CSI 300 index by 1.26 percentage points [2][13]. - The competitive "involution" in the food delivery market has negatively impacted retail sales in June, but the summer travel market is expected to remain robust, indicating potential for growth in related industries [2][5]. - The report highlights the significant impact of visa-free policies on inbound tourism, with a notable increase in inbound travel expected during the summer season [5][41]. Market Review & Industry Dynamics - The social services sector's performance was strong, with sub-sectors like professional services (+7.53%) and tourism retail (+2.85%) leading the gains, while hotel and catering services saw a slight decline of -0.17% [17][20]. - The report notes that from July 1 to August 31, the national railway is expected to send 953 million passengers, a year-on-year increase of 5.8% [5][30]. - The inbound tourism market has shown a strong recovery, with 33.3 million inbound travelers in the first half of 2025, a 15.8% increase year-on-year [5][30]. Investment Recommendations - The report suggests focusing on companies with strong growth potential in the travel and related industries, including Huangshan Tourism, Lijiang Co., Songcheng Performance, and others [5][41]. - It also recommends monitoring hotel brands like Junting Hotel and Jinjiang Hotel, which are expected to benefit from the recovery in business travel [5][41]. - Companies involved in the recovery of the duty-free market, such as China Duty Free Group and Wangfujing, are also highlighted as potential investment opportunities [5][41].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [4][6]. Core Viewpoints - The company is positioned as a leading cultural tourism service provider, focusing on destination investment and operation, with a robust expansion of its business footprint [1][4]. - The tourism industry is experiencing a recovery driven by policy support, with significant growth in both domestic and inbound tourism expected [2][29]. - The company has established three major international tourism destination systems, achieving breakthroughs in light asset operations [3][4]. Company Overview - The company, Xiangyuan Cultural Tourism, was listed in 2017 and has since acquired several high-quality scenic assets, forming a comprehensive tourism service model that includes destination resorts, travel services, cultural consumption, and digital technology [1][14]. - In 2024, the company is projected to achieve revenue of 860 million yuan, a year-on-year increase of 19.6%, with a net profit of 147 million yuan, reflecting a slight decline of 3.1% [1][4]. Industry Insights - Domestic tourism is expected to see 5.62 billion visitors in 2024, a 14.9% increase year-on-year, with tourism revenue reaching 5.8 trillion yuan, up 17.0% [2][29]. - Inbound tourism is projected to recover significantly, with 132 million visitors anticipated in 2024, marking a 60.9% increase from the previous year [2][38]. - The report highlights the ongoing policy initiatives aimed at bolstering the tourism sector, which is recognized as a strategic pillar of the national economy [29][41]. Business Development - The company has successfully integrated various scenic assets through acquisitions, enhancing its operational capabilities and expanding its market presence [3][4]. - The establishment of three major tourism areas—Daxiangxi, Dahuangshan, and Dananling—demonstrates the company's strategic focus on high-potential regions [3][4]. - The company has developed a comprehensive operational model that includes light asset management for eight scenic spots, providing full-chain operational services [1][3]. Financial Projections - The company is expected to achieve revenues of 1.36 billion yuan in 2025, with a net profit of 383 million yuan, reflecting a significant growth trajectory [4][5]. - The projected P/E ratios for 2025, 2026, and 2027 are 21.3x, 17.6x, and 15.6x respectively, indicating potential for valuation improvement [4][5].