Under the background of the epidemic, tourism, hotels, restaurants, airports and other fields have been greatly impacted, and relevant industries have carried out structural adjustment and upgrading in the "dormancy". With the gradual improvement of the epidemic situation and the continuous increase of policies, it further contributes to the recovery and "butterfly change" of the industry. The national standing committee meeting held on February 14 pointed out that industry and service industry play a backbone supporting role in economic development and stable employment. At present, the stable recovery trend of industrial economy is still not firm, and there are some special difficult industries in the service industry due to the impact of the epidemic. In the near future, we should speed up the introduction of measures and increase assistance. The meeting proposed that for industries with special difficulties such as catering, retail, tourism, transportation and passenger transport, we should strengthen support in terms of phased tax reduction and deferred payment of some social security fees, so as to promote stable employment and recovery of consumption. tourism It is expected to usher in a year of recovery During the Spring Festival this year, the recovery trend of peripheral tourism is obvious. The heat of the Winter Olympics has driven ice and snow leisure to become the mainstream of the market. On February 16, the data released by the National Bureau of statistics showed that the tourism price increased by 8.6% year-on-year and 2.1% month on month in January. According to the calculation of the data center of the Ministry of culture and tourism, 251 million domestic tourists will travel during the seven-day Spring Festival holiday in 2022, a year-on-year decrease of 2.0%, and it will return to 73.9% of the Spring Festival holiday in 2019 according to a comparable caliber. Anxin Securities pointed out that domestic tourism is expected to usher in more positive changes on the policy side in 2022. First, the epidemic prevention policy is expected to usher in new changes. Second, tourism support policies are expected to be strengthened. According to the calculation of the world tourism organization, every 1 yuan of direct income from tourism will bring 4.3 yuan of value-added benefits to industries related to the national economy. Boosting tourism is expected to become an important starting point for local governments to boost the economy in 2022 and 2023. After the festival (since February 7), the tourism and scenic area sector has increased by 10.58%, significantly outperforming the Shanghai stock index in the same period (up 3.11%). In terms of individual stocks, Qujiang cultural tourism (50.92%), Tibet tourism (24.91%), Caesar tourism (23.33%), St Haichuang (23.01%), Lingnan Holdings (20.76%) and other stocks increased by more than 20% during the period. Ma Cheng, chairman of juze investment, said in an interview with the reporter of Securities Daily that the main logic of the rise in the tourism sector is that the impact of the epidemic has gradually subsided and the market is expected to "reverse the dilemma". In the future, the performance of relevant companies in the industry will be repaired quickly, and the sector may usher in the double improvement of performance and valuation. As of February 16, 19 listed companies in the tourism and scenic spot sector have issued performance forecasts for 2021. Six companies, including Qujiang cultural tourism, Emeishan a, CYTS, * ST western regions, Songcheng performing arts and Huangshan Tourism, are expected to turn around their losses in 2021. For investment opportunities in tourism and scenic spots, Long Hao, chairman of Jinding assets, who was interviewed by the reporter of Securities Daily, said that under the influence of the epidemic and other factors, some changes have taken place in the characteristics of the tourism market and tourism consumption preferences, and industrial changes are inevitable. Domestic tourism and peripheral tourism with the theme of expanding domestic demand will become the focus. Dongguan Securities said that 2022 is expected to be the year of tourism recovery. It is suggested to pay careful attention to the leading outbound tourism enterprises that benefit from the recovery of inbound and outbound tourism, as well as the enterprises that are expected to benefit from the expected improvement of global tourism recovery and the expected response of valuation in advance. Policy driven Demand for hotel catering industry rebounded "With the gradual recovery of China's tourism industry and the continuous recovery of passenger flow, the performance of the hotel catering sector will be repaired rapidly and the loss narrowed in 2021. It is expected that the impact of the epidemic on the tourism industry will further decline in 2022, helping the profitability of hotel catering enterprises to repair. The anti risk ability of small and medium-sized hotels is low, and the epidemic will further accelerate the improvement of the concentration of the hotel industry. It is expected that after the epidemic, large-scale hotels will Store market share will continue to grow. It is suggested to pay attention to large chain hotel brands with national layout ability. " Chen Li, chief economist of Chuancai securities and director of the Research Institute, said in an interview with Securities Daily. Since February 7, the hotel catering sector has performed well, with an overall increase of 7.04%, significantly outperforming the Shanghai stock index in the same period (up 3.11%). Among them, the cumulative increase of Huatian Hotel was the first, up to 33.13%. The cumulative increase of two concept stocks such as Junting Hotel and * ST Donghai a exceeded 10%. In this regard, market participants said that at present, the hotel catering sector has three positive factors to support. First, policy level support. On January 20, the State Council issued the tourism development plan for the 14th five year plan, which proposed that by 2025, the development level of tourism will be continuously improved, the modern tourism system will be more perfect, the effective supply, high-quality supply and flexible supply of tourism will be more abundant, and the consumption demand of mass tourism will be better met. We will deepen the integration of culture and tourism, build a number of world-class scenic spots and resorts with rich cultural heritage, build a number of national tourism and leisure cities and blocks with distinctive cultural characteristics, and accelerate the development of red tourism and rural tourism. Secondly, the market demand of the hotel and catering industry recovered. According to the official WeChat official account of the people's Bank of China on February 7th, the amount of Chinese non cash payment business in 2022 was 20 billion 840 million, and the amount was 14 trillion and 900 billion yuan, which increased 10% and 16.2% respectively compared with the same period last year. Among them, during this period, the payment amount of catering merchants increased by 29.6% over the same period last year. Finally, the profits of listed enterprises continued to improve. Flush data show that up to now, eight listed companies in the hotel and catering industry have disclosed performance forecasts for 2021, and five are expected to be happy. Among them, four companies, including first travel hotel, Huatian Hotel, * ST Donghai A and Zhongke cloud, are expected to turn losses into profits. For the investment opportunities in the hotel catering sector, Hao Xinming, manager of Fangxin wealth investment fund, said that with the effective control of the epidemic, local tourism and peripheral tourism are expected to usher in a turnaround this year, so as to drive the prosperity of hotel catering and other related industries. With the increasing advancement of hotel chain process, the advantages of leading enterprises will become more and more obvious. Airport Industry The starting point of a new cycle has arrived Since February 7, the airport sector has been active, with a cumulative increase of 4.76%, outperforming the Shanghai Composite Index in the same period (up 3.11%). Among them, the cumulative increase of Shanghai airport was the first, reaching 11.15%, * ST HNA, Xiamen airport and Shenzhen Airport increased by 8.74%, 5.49% and 5.47% respectively. Under the impact of the epidemic, the profitability of Listed Companies in the airport industry is weak. According to tonghuashun data, as of February 16, 10 listed companies in the airport industry have disclosed the performance forecast for 2021, * ST HNA, Spring Airlines and other two companies are expected to turn losses into profits, and the other eight companies are expected to make losses. Yang Delong, chief economist of Qianhai Kaiyuan, who was interviewed by the reporter of Securities Daily, said, "with the effective control of the epidemic this year, the marginal relaxation of superimposed entry-exit restrictions is gradually approaching, further boosting the expectation of the orderly recovery of China's entry-exit tourism. Under this background, the market demand of air airports is expected to recover gradually, and the fundamental profits of the industry are expected to improve." In fact, the civil aviation market is accelerating the recovery. According to the Civil Aviation Administration of China on February 7, during the Spring Festival holiday in 2022 (from January 31 to February 6), national airlines transported a total of 5.01 million passengers, an increase of 40.2% over the Spring Festival holiday in 2021. At the same time, the policy level is also strongly supported. In January this year, the Civil Aviation Administration of China, the national development and Reform Commission and the Ministry of transport jointly issued the civil aviation development plan for the 14th five year plan, which proposed that the development of civil aviation in the 14th five year plan should be divided into two stages: the recovery period and savings period from 2021 to 2022; The period from 2023 to 2025 is a period of growth and release. The focus is to expand the domestic market, restore the international market, release the effectiveness of reform, improve the level of opening to the outside world, strive to enhance the momentum of innovation and development, accelerate the improvement of capacity, scale and quality efficiency, and promote the high-quality development of civil aviation in an all-round way. The Civil Aviation Administration recently issued the special plan for the development of aviation logistics in the 14th five year plan. It is proposed that by 2025, a safe, intelligent, efficient and green aviation logistics system will be preliminarily established, with significantly enhanced aviation logistics support capacity, significant cost reduction and efficiency efficiency gains, and significantly improved independent and controllable ability of the system. Aviation logistics will have a significant impact on high-end manufacturing, postal express The service capacity of cross-border e-commerce and other industries continued to improve. "The starting point of a new cycle of the airport industry has come." Societe Generale Securities said that looking at the longer term, it is now the starting point of a new cycle of the industry. It is expected that after the opening of the international line in the next three to five years, the competition intensity may decline under tight supply and demand, and the profitability elasticity of the industry will appear. (Xinhua News Agency)