Core Insights - The domestic tourism market in China experienced a strong start during the 2026 New Year holiday, with significant growth in travel orders, particularly in Shanxi Province, which saw a 100% year-on-year increase in overall tourism orders on New Year's Day [1] - Young travelers, particularly those born after 2000, dominated the travel demographic, accounting for 39% of the total, reflecting a shift towards cultural and immersive travel experiences [2] - Shanxi's tourism offerings, including historical sites and cultural experiences, are increasingly appealing to both domestic and international tourists, with a notable increase in inbound tourism bookings [5] Domestic Tourism Growth - Shanxi Province's tourism orders on New Year's Day doubled compared to the previous year, with Taiyuan, the provincial capital, seeing a 57% increase in orders [1] - The number of travel bookings in Shanxi during the holiday surged by approximately 400%, with significant increases in car rentals and tour packages [1] - Popular tourist attractions in Shanxi included the Yungang Grottoes and the Jin Temple Museum, showcasing the province's rich cultural heritage [3] Young Travelers and Cultural Experiences - The trend among young travelers is shifting from mere sightseeing to engaging with historical and cultural sites, with a focus on experiences that nourish the soul [2] - The demand for intangible cultural heritage tourism increased by 85% during the holiday, indicating a strong interest in cultural experiences [2] - Shanxi's offerings, such as immersive performances and workshops, are designed to enhance visitor engagement and understanding of the region's history [4] Popular Attractions and Cultural Depth - The top five tourist attractions in Shanxi during the holiday were Yungang Grottoes, Jin Temple Museum, Hukou Waterfall, Pingyao Ancient City, and the Wooden Pagoda in Yingxian, highlighting the province's diverse cultural and natural assets [3] - The province is leveraging its unique cultural resources to create a "walking classroom" for Chinese civilization, promoting deeper understanding and longer stays among tourists [4] Inbound Tourism and International Interest - Inbound tourism in Shanxi showed positive signs, with a 110% increase in ticket bookings for international visitors during the New Year holiday [5] - Shanxi's status as a UNESCO World Heritage site attracts international tourists, particularly from Malaysia, Thailand, Singapore, and South Korea, who are interested in the region's historical heritage [5] Outbound Tourism Trends - The flexible holiday schedule during the New Year led to a significant increase in outbound tourism, with bookings for long-distance trips rising sharply [6] - Shanxi travelers' outbound bookings increased by 140%, with a notable rise in demand for car rentals and package tours [6] - Popular outbound destinations included Australia and various unique locations, reflecting a growing interest in diverse travel experiences among younger demographics [6]

Core Insights - The New Year's holiday period saw a significant increase in domestic travel and spending, with 142 million domestic trips and total spending of 84.789 billion yuan [1] - The overall inter-regional movement of people reached 595 million, averaging 198 million per day, marking a year-on-year increase of 19.62% [1] Group 1: Travel Trends - There is a notable rise in consumer willingness to travel, with a 20% increase in the number of items purchased per person and over a 30% increase in per capita spending compared to last year [1] - The popularity of unique travel experiences and the emphasis on "ceremony" in travel consumption reflect a shift towards more personalized and emotional experiences [2][3] Group 2: Popular Destinations - Ice and snow tourism dominated the holiday, accounting for about 40% of popular domestic travel routes, with Harbin Ice and Snow World being a top attraction [3] - Theme parks emerged as a favored choice for New Year celebrations, with half of the top ten popular scenic spots being theme parks, highlighting the appeal of domestic options over international ones [2] Group 3: International Travel - There was a marked increase in outbound tourism, driven by long holiday arrangements, with popular themes including island vacations and unique experiences in lesser-known destinations [4] - Young adults aged 25 to 45 and family groups are the primary demographics for outbound travel, showing a willingness to pay a premium for detailed itineraries and immersive experiences [4]

1月4日，交通运输部初步统计，今年元旦假期（1月1日至3日）全社会跨区域人员流动量预计达5.9亿人 次，日均1.98亿人次，较去年同期增长19.5%。而经文化和旅游部数据中心测算，元旦假期3天，全国国 内出游1.42亿人次，国内出游总花费847.89亿元。冰雪游稳占"C位"，海南封关点燃免税购物潮，中式 乐园、非遗旅游等新业态崛起，为全年文旅产业高质量发展注入强劲动力。 短途游与长线游交织并行，南北双向奔赴 小长假短途游备受青睐，京津冀、长三角、珠三角城市群迎来大批游客。上铁集团数据显示，1月1日， 上铁集团发送旅客376.6万人次，创元旦假期运输单日客发历史新高。交通运输部数据显示，元旦假期 首日交通出行人数超2亿人次，同比增长20.3%，其中全国铁路发送旅客1856万人次，同比增长67.9%。 而1-3日三天，铁路客运量预计为4822.3万人次，日均1607.5万人次，同比增长53.1%，增幅显著。公路 人员流动量预计达5.4亿人次，日均1.8亿人次，同比增长15.5%；其中，非营业性小客车出行量预计为 4.4亿人次，是公路出行的主体。水路客运量预计229万人次，同比增长35.3%。民航客运量预计588. ...

入境旅游市场同样保持蓬勃增长。航旅纵横数据显示，元旦假期入境航线机票预订量超32万张，同比增 长约11%。 在出境旅游目的地选择上，众信旅游（002707）数据显示，截至12月23日，短线度假游凭借温暖气候、 便捷的航班及免签政策，叠加丰富的海岛体验成为出境短线游的首选目的地，出游人数较去年同期增长 58%；此外，阿联酋、埃及等特色鲜明的中东目的地也吸引了大批游客。 随着近期多项移民管理创新举措的实施，通关便利化政策红利持续释放，元旦假期全国口岸将迎来出入 境客流高峰。 "受到拼假游带动作用，澳新、西葡等季节性条件优越的出境游长线目的地同样表现亮眼，澳新出游人 数较去年同期增长超三倍，欧洲出游人数也较去年同期大幅增长。"众信旅游市场公关部经理李梦然对 《证券日报》记者表示。 12月29日，记者从国家移民管理局获悉，据其预测，我国假期日均出入境旅客将突破210万人次，同比 增长22.4%，预计出入境客流高峰主要集中在2025年12月31日晚间和2026年1月1日。 飞猪数据也显示，出境游延续了2025年暑期、"十一"假期的火热势头，商品预订量已大幅超去年元旦假 期全程。"四小时飞行圈"内的中国港澳、东亚及东南亚 ...

玩法上，游客对个性化体验与跨年仪式感的追求不断提升。飞猪数据显示，截至目前，极光旅行、 宠物随行等特色体验类旅游玩法热度同比去年大增200%。西安市民王女士说："这次我特意带上宠物， 约了大学室友去上海跨年。" 今年元旦的跨年氛围愈发浓厚，跨年演出、烟花秀、灯光秀等"跨年游"相关玩法的搜索热度同比上 涨58%。在西安丝路欢乐世界，七大主题街区将上演超百场演艺。 2026年西安城墙灯会提前至元旦启幕，将从元旦假期持续至3月22日。本届城墙灯会以"千灯映长安 ·午马迎春来"为核心主题，围绕"国宝焕新颜、诗韵长安城、奔腾生肖马"三大脉络展开，为古城披上璀 璨华裳。"国宝焕新颜"联合西安及关中地区知名博物馆，将昭陵六骏、乾陵翼马等50余件国宝级文物转 化为花灯造型，让文物"活"起来。"诗韵长安城"聚焦"百坊千诗长安城"，串联李白、杜甫等10余位唐代 诗人的39首经典作品，通过场景化互动与唐诗长廊，让游客直观感受长安城坊市文化与诗韵。"奔腾生 肖马"紧扣丙午马年主题，从历代文物、书画中选取39匹形态各异的生肖马元素，以创意花灯形式呈 现。（记者：李卫） 12月19日，飞猪发布的《2026元旦假期出游风向标》显示，消费者 ...

Group 1 - The Ministry of Culture and Tourism of China has advised tourists to avoid traveling to Japan, leading to a surge in cancellations for group tours to Japan [1] - Popular outbound travel destinations have shifted significantly, with South Korea emerging as the new top destination, followed by Thailand, Hong Kong, Malaysia, Singapore, Vietnam, and Indonesia [1] - Data from travel platforms indicates that as of November 17, Seoul is the most searched destination for outbound flights, with Bangkok, Hong Kong, Singapore, and Kuala Lumpur also showing high search volumes [1] Group 2 - There has been a notable increase in inquiries and bookings for destinations like Bali, Phu Quoc in Vietnam, Malaysia, and Singapore, with a 20% rise in product inquiries for these locations [3] - The winter travel market is seeing a growing proportion of young travelers, with nearby destinations like South Korea, Singapore, and Malaysia becoming increasingly popular due to their proximity, convenient transportation, and rich tourism resources [4]

Core Insights - The Chinese Ministry of Culture and Tourism has advised tourists to avoid traveling to Japan, leading to a shift in outbound travel destinations for Chinese tourists [1] - South Korea has emerged as the top outbound travel destination, with significant increases in flight bookings and search volumes [2][4] Group 1: Outbound Travel Trends - South Korea has become the most popular outbound travel destination, with the highest search volume for international flight tickets as of November 17 [2] - The recent implementation of a visa exemption policy for Chinese group tourists by the South Korean government has contributed to the surge in interest [2] - Other popular destinations include Thailand, Hong Kong, Malaysia, Singapore, Vietnam, and Indonesia, which have also seen increased flight bookings [1][4] Group 2: Emerging and Niche Destinations - There is a notable increase in flight bookings for previously considered niche destinations such as Sri Lanka, Uzbekistan, and Cambodia, with Sri Lanka seeing a 36% increase and Uzbekistan a 21% increase compared to the previous week [3] - The growing interest in these destinations is attributed to travelers seeking unique cultural experiences and comfort, particularly among tourists aged 50 and above [3] - Kazakhstan and Uzbekistan have also seen a significant rise in market attention, with a 340% year-on-year increase in related product bookings [3] Group 3: Established Travel Destinations - Traditional travel destinations like Bangkok, Hong Kong, Singapore, Kuala Lumpur, Macau, Sydney, and Bali have maintained high search volumes, with Singapore, Sydney, and Bali experiencing over a 10% increase in search volume compared to the previous week [4] - The demand for staggered outbound travel among Chinese tourists is expected to remain strong until the end of 2025, with a diversification in destination choices [4]

Core Viewpoint - Caesar Travel Industry has shown significant stock performance with a year-to-date increase of 65.19%, indicating strong market interest and potential growth in the tourism sector [1][2]. Group 1: Stock Performance - On November 3, Caesar Travel's stock rose by 2.14%, reaching 6.69 CNY per share, with a trading volume of 4.23 billion CNY and a turnover rate of 4.82% [1]. - The company has experienced a net outflow of 12.94 million CNY in principal funds, while large orders accounted for 19.77% of purchases and 23.60% of sales [1]. - Over the past five trading days, the stock has increased by 8.96%, and over the last 60 days, it has risen by 28.90% [1]. Group 2: Company Overview - Caesar Travel, established on May 28, 1996, and listed on July 3, 1997, is primarily engaged in outbound tourism products, including wholesale and retail services, corporate event planning, and destination management [2]. - The company's revenue composition includes 40.56% from tourism services, 34.87% from airline catering, 11.02% from railway catering, 8.35% from food and beverage, and 5.20% from destination services [2]. - As of September 30, the number of shareholders increased by 75.58% to 112,500, while the average circulating shares per person decreased by 43.05% [2]. Group 3: Financial Performance - For the period from January to September 2025, Caesar Travel reported a revenue of 541 million CNY, reflecting a year-on-year growth of 6.52%, but a net loss of 26.78 million CNY, which is a 47.46% decrease compared to the previous year [2]. - The company has distributed a total of 104 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3].

Core Viewpoint - Caesar Travel Industry is a leading outbound travel service provider in China, with significant investment value due to its full industry chain advantages [1] Group 1: Business Performance - In Q3 2025, Caesar Travel's revenue was 541 million, ranking 4th among 5 companies in the industry, with the industry leader, Zhongxin Tourism, generating 5.241 billion [2] - The net profit for the same period was -16.99 million, also ranking 4th, while the industry leader, Sanxia Tourism, reported a net profit of 85.07 million [2] Group 2: Financial Ratios - As of Q3 2025, Caesar Travel's debt-to-asset ratio was 50.16%, lower than the previous year's 51.33% and below the industry average of 55.36% [3] - The gross profit margin for Q3 2025 was 22.57%, an increase from 22.04% year-on-year, and higher than the industry average of 18.19% [3] Group 3: Management and Shareholder Information - The chairman, Chi Yongjie, has a rich background and serves as the chairman of Qingdao Huanhaiwan Investment Development Group [4] - The total number of A-share shareholders increased by 75.58% to 112,500 as of September 30, 2025, while the average number of circulating A-shares held per shareholder decreased by 43.05% [5]

Core Viewpoint - Caesar Travel Industry's stock has shown significant volatility, with a year-to-date increase of 53.58% but a recent decline over the past five and twenty trading days [1][2] Group 1: Stock Performance - On October 27, Caesar Travel's stock rose by 2.13%, reaching 6.22 CNY per share, with a trading volume of 220 million CNY and a turnover rate of 2.70%, resulting in a total market capitalization of 9.976 billion CNY [1] - The stock has experienced a decline of 6.89% over the last five trading days and 7.85% over the last twenty trading days, while it has increased by 15.40% over the last sixty days [1] - The company has appeared on the trading leaderboard five times this year, with the most recent appearance on July 30, where it recorded a net buy of 172 million CNY [1] Group 2: Company Overview - Caesar Travel Industry, established on May 28, 1996, and listed on July 3, 1997, is based in Haikou, Hainan Province, and primarily engages in outbound tourism products, corporate event services, and destination tourism resource management [2] - The company's revenue composition includes 40.56% from tourism services, 34.87% from airline catering services, 11.02% from railway catering services, 8.35% from food and beverage, and 5.20% from destination services [2] - As of June 30, 2025, the number of shareholders was 64,100, a decrease of 5.71% from the previous period, with an average of 20,773 circulating shares per shareholder, an increase of 6.06% [2] Group 3: Financial Performance - For the first half of 2025, Caesar Travel reported an operating income of 317 million CNY, a year-on-year decrease of 1.20%, and a net profit attributable to shareholders of -24.28 million CNY, down 43.98% year-on-year [2] - The company has distributed a total of 104 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which holds 10.91 million shares as a new shareholder [3]