Investment Rating - The report maintains a "Positive" outlook on the social services industry, indicating that it is expected to outperform the overall market performance [3][4]. Core Insights - The Jiangsu Urban Football League ("Su Chao") has emerged as a phenomenon, generating significant economic activity and consumer engagement, with over 110 billion views on related topics on short video platforms and 95.2% awareness among Jiangsu residents [3][8]. - The league has stimulated local consumption, with a 6.3% year-on-year increase in retail sales in May and a staggering 305% increase in scenic area bookings [3][11]. - Nanjing Tourism, a local cultural tourism enterprise, has seen substantial sales from its "Su Chao Viewing Tour" package, achieving over 12 million yuan in sales during the Dragon Boat Festival [3][11]. - The company plans to invest 60 million yuan to establish a hotel management company, further integrating football and cultural tourism [3][11]. Summary by Sections 1. Leveraging Su Chao for Nanjing Tourism's Transformation - "Su Chao" has become a significant IP, igniting consumer enthusiasm and enhancing local tourism [8][11]. - The league has increased the average stay of fans from 1.2 days to 2.5 days, boosting local food searches and tourism-related sales [3][8]. 2. Weekly Review of Leisure Services Industry - The social services index rose by 0.74% from June 30 to July 4, outperforming the broader market [3][4]. 3. Company Announcements - Nanjing Tourism has been actively restructuring, transitioning from a textile company to a cultural tourism platform, with significant acquisitions and management agreements in place [4][15]. 4. Industry Major Events Review - The report highlights the increasing integration of cultural and tourism assets within the leisure services sector, driven by events like "Su Chao" [3][4]. 5. Valuation of Key Industry Companies - The report provides detailed valuations for key players in the human resources, tourism, hotel, and restaurant sectors, indicating a positive outlook for these industries [3][40].