Core Insights - The ice and snow economy stocks have shown significant activity, with companies like Dalian Shenya (600593) and Xue Ren Group (002639) hitting the daily limit, indicating strong market interest in this sector [1] Group 1: Market Performance - On November 4, several ice and snow economy stocks experienced notable gains, including a more than 13% increase for Jingxue Energy (301010) and over 7% for Changbai Mountain (603099) [1] - The early opening of ski resorts across multiple regions has led to a surge in hotel bookings, with increases of 50% to 70% compared to previous periods [1] Group 2: Consumer Behavior - A report from Qunar Travel indicated that hotel bookings in areas surrounding ski resorts have increased significantly, with a 51.6% rise in bookings for hotels in Fuyun County after the opening of the Keketohai International Ski Resort [2] - The Zhangjiakou Chongli Wanlong Ski Resort opened on October 21, leading to a 243% year-on-year increase in hotel bookings for the next three months [2] Group 3: Travel Trends - The new winter-spring flight schedule initiated on October 26 has resulted in a 23% year-on-year increase in flight bookings to Harbin, a popular ice and snow destination [3] - Southern tourists are increasingly interested in ice and snow tourism, with over 60% of bookings for related products coming from southern cities [3]

Core Insights - The ice and snow industry in China is expected to exceed 1 trillion yuan, becoming a significant growth point for expanding domestic demand and fostering new consumption [1] - The popularity of ice and snow sports has surged, with a notable increase in outdoor skiing searches and participation across various cities [1][2] - The demand for related services, such as dining and accommodation near ski resorts, has also seen substantial growth [2] Industry Growth - The report indicates that from the 2024 to 2025 ski season, consumption within a two-kilometer radius of ski resorts is projected to grow by 27.97% year-on-year [2] - Search volume for "food near ski resorts" increased by 40%, while "hotels near ski resorts" saw over a 20% rise [2] - Specific ski resorts like Changbai Mountain and Yabuli have experienced significant increases in hotel search volume, with 620% and 447% respectively [2] Regional Insights - Harbin's Ice and Snow World is preparing for its largest-ever construction scale, incorporating more ice sculptures and snow creations, along with enhanced technological elements [2] - The top ten source cities for visitors to Harbin's Ice and Snow World include Liaoning, Beijing, Guangdong, and others, indicating a broad interest in ice tourism [2] Indoor Skiing Trends - Indoor ski resorts in cities like Shanghai and Shenzhen are becoming popular as high-frequency consumption venues, with China leading globally in the number of indoor ski facilities [3] - As of May 2025, China will host seven of the top ten indoor ski resorts worldwide, with Shanghai Yao Snow ranked first [3] Training and Participation - The demand for ice skating training services is on the rise, with significant increases in searches for ice skating and related training programs [3] - The number of participants in ice sports is expected to reach new highs this season, driven by the growing popularity of ice and snow activities [3]