Group 1 - The Hong Kong stock market showed slight recovery after several days of adjustment, with the consumption sector experiencing narrow fluctuations, particularly the Hong Kong Stock Connect Consumption ETF, which saw a minor increase [1] - Notable gainers in the holdings included Lao Pu Gold, Mao Ge Ping, Mengniu Dairy, and Samsonite, while Unification Enterprise China, Conant Optical, and Smoore International faced declines [1] - The Spring Festival travel period in 2026 recorded a historic high of 9.5 billion person-times of cross-regional movement, with over 2.8 billion person-times during the 9-day holiday, marking a 21% increase from 2025 [1] Group 2 - The service industry consumption is a key focus of policy support, with the general travel sector expected to continue benefiting from this trend [1] - The K-shaped recovery trend remains anticipated, with low base effects for mid-tier consumption leaders becoming evident, and overseas demand transitioning from pilot exploration to large-scale replication [1] - Supply-side innovations are expected to enhance emotional value premiums, supported by policy guidance, while AI empowerment is anticipated to improve efficiency and cost optimization [1] Group 3 - Various ETFs related to consumption sectors are being monitored for recovery opportunities, including the Food and Beverage ETF, which tracks a detailed food index covering leading companies in alcohol, dairy, condiments, beer, and soft drinks [2] - The Consumption ETF Huaxia tracks the main consumption industry index, providing balanced coverage across various consumption sub-sectors [2] - The Hong Kong Stock Connect Consumption ETF Huaxia encompasses nearly all areas of Hong Kong's consumption sector, while the Tourism ETF focuses on service consumption, excluding goods consumption, covering sectors like duty-free, airlines, and hotel dining [2]

港股通消费ETF华夏（513230）跟踪中证港股通消费主题指数，一键打包新消费龙头，成分股近乎 囊括港股消费的各个领域； 旅游ETF（562510）跟踪中证细分旅游指数，专注服务消费，不含商品消费，覆盖免税、航空公 司、酒店餐饮等细分行业。 每日经济新闻 （责任编辑：董萍萍 ） 消息面上，今年春节，是海南自贸港岛内居民消费的进境商品"零关税"政策落地后迎来的首个长 假，数据显示，春节假期全市预计实现社会消费品零售总额34.9亿元，同比增长2.6%。据统计，春节假 期全市离岛免税店累计销售额12.06亿元，同比增长12.7%。 近期，春节消费呈现结构性回暖特征，餐饮链表现尤为亮眼。国金证券指出，春节假期延长叠 加"乐购新春"消费补贴、以旧换新置换补贴等政策持续发力，显著拉动餐饮出行数据向好；调味品、速 冻食品等餐饮链板块节前经销商备货谨慎、库存处于合理水平，2月末至3月有望开启补库存行情，叠加 去年一季度基数偏低，板块需求有望逐步触底改善。同时，零食板块维持高景气，节前礼盒装产品动销 旺盛，量贩渠道大幅上新礼包并加速开店扩张，后续有望通过渠道渗透与新品推广实现业绩高增。 低位关注消费相关行业主题ETF修复机会： ...

Group 1 - Meituan's report indicates that popular travel destinations during the 2026 Spring Festival include Beijing, Shanghai, Chengdu, Chongqing, Shenzhen, Guangzhou, Xi'an, Hangzhou, Nanjing, and Wuhan, with Yiwu, Heshan, and Zhangjiagang being the top three county-level tourism hotspots [1] - The report highlights a 76% year-on-year increase in family ticket bookings, with "multi-generational travel" emerging as a new trend, and a 79% increase in total spending on group travel during the Spring Festival [1] - During the first four days of the 2026 Spring Festival holiday, the average daily sales of key retail and catering enterprises increased by 8.6% compared to the same period in 2025, marking four consecutive years of growth [1] Group 2 - The demand for dining during the Spring Festival saw a significant increase, with Meituan reporting a 105% year-on-year growth in reservations for New Year's Eve dinners [2] - There was notable performance in lower-tier markets, with Douyin reporting a 66% increase in group buying sales in third-tier and below cities, and a 72% increase in takeaway orders in rural areas of Guangdong [2] - The growth of prepared dishes is accelerating, driven by new national standards and ongoing changes in retail channels, with leading companies leveraging supply chain advantages to capture market share [2] Group 3 - The consumption-related industry theme ETFs are being closely monitored for recovery opportunities, including the Huaxia Consumption ETF (510630) which tracks major consumption industry indices [3] - The Hong Kong Stock Connect Consumption ETF (513230) tracks the consumption theme index, providing exposure to leading new consumption companies across various sectors [3] - The Tourism ETF (562510) focuses on service consumption, excluding commodity consumption, and covers sectors such as duty-free, airlines, and hotel dining [3]