Group 1 - The core viewpoint of the article highlights a significant increase in hotel stocks within the A-share market, indicating positive market sentiment towards the hospitality sector [1] Group 2 - Jin Jiang Hotels saw a rise of over 5% in its stock price [1] - Shou Lv Hotels experienced a 4% increase in its stock price [1] - Both Jinling Hotels and Lingnan Holdings reported stock price increases of over 2% [1] - Huaten Hotels' stock price rose nearly 2% [1]

Group 1 - The core point of the news is that Jin Jiang Hotels experienced a stock price increase of 5.21%, reaching 25.84 CNY per share, with a trading volume of 295 million CNY and a turnover rate of 1.30%, resulting in a total market capitalization of 27.553 billion CNY [1] - Jin Jiang International Hotel Co., Ltd. was established on December 13, 1994, and listed on October 11, 1996. The company primarily operates limited-service hotel management and food and beverage businesses [1] - The revenue composition of Jin Jiang Hotels includes 68.22% from limited-service hotel operations and management in mainland China, 28.32% from limited-service hotel operations and management outside mainland China, 1.87% from full-service hotel operations and management in mainland China, and 1.59% from food and beverage operations [1] Group 2 - From the perspective of fund holdings, one fund under Xiangcai Fund has Jin Jiang Hotels as a top ten holding. The Xiangcai Balanced Selection Mixed A Fund (018930) held 22,400 shares in the third quarter, accounting for 2.84% of the fund's net value, ranking as the tenth largest holding [2] - The Xiangcai Balanced Selection Mixed A Fund (018930) was established on September 21, 2023, with a latest scale of 15.1256 million CNY. Year-to-date returns are 1.31%, ranking 6732 out of 8823 in its category, while the one-year return is 0.99%, ranking 7890 out of 8083. Since inception, the fund has experienced a loss of 13.07% [2] - The fund manager of Xiangcai Balanced Selection Mixed A is Bao Jiamin, who has been in the position for 1 year and 310 days. The total asset scale of the fund is 509 million CNY, with the best return during the tenure being 47.98% and the worst return being -4.08% [3]

Group 1 - The hotel and catering sector increased by 0.66% on January 6, with Huazhong Hotel leading the gains [1] - The Shanghai Composite Index closed at 4083.67, up 1.5%, while the Shenzhen Component Index closed at 14022.55, up 1.4% [1] - Key stocks in the hotel and catering sector showed varied performance, with Huazhong Hotel closing at 3.31, up 1.22%, and Junxi Hotel slightly down by 0.12% at 25.72 [1] Group 2 - The net capital flow in the hotel and catering sector showed a net outflow of 13.89 million yuan from main funds and 13.71 million yuan from speculative funds, while retail investors had a net inflow of 27.60 million yuan [1] - Specific stock capital flows indicated that Huazhong Hotel had a main fund net inflow of 11.55 million yuan, while Shoulu Hotel experienced a significant net outflow of 30.23 million yuan from main funds [2] - Retail investors showed a notable net inflow in Shoulu Hotel of 37.48 million yuan, despite the overall negative trend in main and speculative funds [2]

从资金流向上来看，当日酒店餐饮板块主力资金净流出2429.75万元，游资资金净流入6324.34万元，散户 资金净流出3894.58万元。酒店餐饮板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000721 | 西安饮食 | > 854.90万 | 4.81% | -788.25万 | -4.44% | -66.65万 | -0.38% | | 002306 | *ST云网 | 519.56万 | 7.19% | -303.58万 | -4.20% | -215.98万 | -2.99% | | 002186 | 全聚德 | 487.07万 | 7.35% | 442.97万 | 6.69% | - -930.03万 | -14.04% | | 601007 | 金陵饭店 | 330.83万 | 3.88% | 615.87万 | 7.22% | -946.69万 | -11.10% | | ...

Investment Rating - The report assigns an "Accumulate" rating for the social services industry, indicating a positive outlook for investment opportunities [3]. Core Insights - The tourism market is showing a strong start in 2026, with expectations for continued growth as the Spring Festival approaches. The report highlights several recommended stocks in the OTA, hotel, and scenic area sectors [4]. - There is a significant increase in duty-free sales in Hainan, driven by the appreciation of the RMB, with a recommendation for China Duty Free Group [4]. - The report notes a substantial rise in domestic travel during the New Year holiday, with 142 million trips taken, reflecting a 5.19% increase compared to 2024 [4]. Summary by Sections Tourism Market - The report indicates that 142 million domestic trips were made during the New Year holiday, with total spending reaching 84.789 billion yuan, a 6.35% increase from 2024. The average spending per trip was 597.1 yuan, up by 1.1% [4]. - Recommended stocks in the OTA sector include Trip.com Group and Tongcheng Travel, while hotel recommendations include Huazhu Group, Jinjiang Hotels, and ShouLai Hotels [4]. Duty-Free Sales - Duty-free shopping in Hainan saw a remarkable increase, with sales of 307,000 items from January 1 to 2, 2026, marking a 48.3% year-on-year growth. The number of shoppers reached 65,000, up 60.9%, and total spending was 505 million yuan, a 121.5% increase [4]. Transportation - The report highlights that from January 1 to 3, 2026, the total inter-regional passenger flow is expected to reach 590 million, averaging 198 million per day, a 19.5% increase year-on-year. Railway passenger volume is projected at 48.223 million, with a 53.1% increase [4].

Investment Rating - The industry investment rating is maintained as "Add" [5] Core Insights - The consumption market shows strong growth during the New Year holiday, with significant increases in travel and spending among younger demographics [1][2][4] - The cross-year travel and ice-snow tourism are gaining popularity, with notable increases in ticket bookings and hotel reservations [2] - Hainan's duty-free sales doubled in the first two days of the New Year holiday, indicating robust consumer interest [3] - Various cities reported double-digit sales growth during the holiday, reflecting a vibrant consumption environment [4][7] Summary by Sections Travel Trends - High travel enthusiasm was noted during the New Year holiday, with a significant increase in ticket bookings and hotel reservations, particularly among younger travelers [1][2] - The search volume for "cross-year travel" increased by 125% year-on-year, with theme parks and concerts being major attractions [2] Duty-Free Sales - Hainan's duty-free sales reached 30.7 million items, with a 121.5% year-on-year increase in sales amounting to 5.05 billion yuan [3] - The sales in Sanya alone saw a remarkable increase, with sales amounting to 1.63 billion yuan on January 1, marking an 83.2% increase [3] Consumption Growth - Beijing's sales during the holiday reached 4.04 billion yuan, with a 16.3% year-on-year increase [4] - Shanghai reported an average daily consumption of 12.2 billion yuan, with online sales growing by 5.5% year-on-year [4] - Other cities like Qingdao and Nanjing also reported positive sales growth, indicating a broad recovery in consumer spending [4][7] Investment Recommendations - The report suggests focusing on Hainan and sectors with performance elasticity during the Spring Festival, including duty-free, cross-border e-commerce, and certain scenic spots [8] - It highlights the potential of new consumption trends and the importance of adapting to market changes in 2026 [8]

Investment Rating - The report assigns an "Accumulate" rating for the industry [4]. Core Insights - The travel industry is expected to continue outperforming expectations, with a positive outlook on the travel chain including OTA (Ctrip, Tongcheng), hotels (Atour, Huazhu, Jinjiang, Shoulv), duty-free (China Duty Free), and scenic spots (Emei Mountain, Three Gorges Tourism, Changbai Mountain) [4]. - The competitive landscape has significantly improved, particularly for companies like Huatu Mountain Ding, Caibai Co., and Laopu Gold [4]. - Notable dividend stocks include Sumida, Action Education, and Chongqing Department Store [4]. - The AI+ sector shows promise with companies like Konnate Optical, Fenbi, Tianli International Holdings, Kevin Education, and Doushen Education [4]. - Oversold stocks identified include China Oriental Education, Guoquan, Gaoxin Retail, and Junting Hotel [4]. Industry Updates - In the social service industry, Sanya's duty-free sales reached 163 million yuan on January 1, 2026, marking an 83.2% year-on-year increase, indicating a strong start for duty-free sales in 2026 [4]. - Ctrip's New Year travel report indicates that domestic scenic spot ticket bookings have increased over fourfold year-on-year, with significant growth in inbound travel bookings, sparking the first consumption boom of 2026 [4]. - Tongcheng Travel's report highlights a surge in travel demand during the New Year holiday, driven by a three-day holiday and the "request 3 days off for 8 days" trend, leading to increased bookings for flights, hotels, and homestays [4]. - Retail sector updates include: - Pang Donglai Group's sales in 2025 reached 23.531 billion yuan, a 39% increase from 16.9 billion yuan in 2024 [4]. - Hema's overall revenue growth exceeded 40% in 2025, with its core formats serving over 100 million consumers [4]. - Sam's Club in China surpassed 140 billion yuan in sales in 2025, with a year-on-year growth of approximately 40% [4]. Company Announcements - Kid King announced a profit forecast for 2025, expecting a net profit attributable to shareholders of 275 million to 330 million yuan, representing a year-on-year growth of 51.72% to 82.06% [4]. - Qingmu Technology's chairman reduced his stake by 464,100 shares, accounting for 0.50% of the company's total share capital, with a reduction price of 59.68 yuan [4].

Market Overview - The market is expected to experience style differentiation as it approaches the Spring Festival, maintaining a structural trend under narrow fluctuations[4] - Key focus areas include the release of December and annual economic data in late January and a concentrated period of earnings forecasts[4] Investment Strategy - The strategy emphasizes three main lines: 1. High-growth and high-elasticity sectors, including AI hardware (e.g., optical modules), energy storage, lithium batteries, and non-ferrous metals[4] 2. Market hot tracks such as commercial aerospace, robotics, and cultural tourism[4] 3. Low-position large financial sectors, focusing on high-certainty performance in brokerage, insurance, and banks with dividend expectations[4] Recommended Stocks - **Metals**: Yun Aluminum Co., Ltd. (000807.SZ) with a projected EPS of 1.87 in 2025 and a PE of 17.6[28] - **Chemicals**: Yara International (000893.SZ) with a projected EPS of 2.06 in 2025 and a PE of 23.3[28] - **New Energy**: Slin Smart Drive (301550.SZ) with a projected EPS of 1.32 in 2025 and a PE of 105.0[28] - **Machinery**: Hengli Hydraulic (601100.SH) with a projected EPS of 2.19 in 2025 and a PE of 50.2[28] - **Aerospace**: AVIC Xi'an Aircraft Industry Group (000768.SZ) with a projected EPS of 0.42 in 2025 and a PE of 60.3[28] - **Banking**: Jiangsu Bank (600919.SH) with a projected EPS of 1.76 in 2025 and a PE of 5.9[28] - **Non-Banking**: New China Life Insurance (601336.SH) with a projected EPS of 11.82 in 2025 and a PE of 5.9[28] - **Social Services**: Jin Jiang International (600754.SH) with a projected EPS of 0.89 in 2025 and a PE of 28.3[28] - **Electronics**: Dongshan Precision (002384.SZ) with a projected EPS of 0.77 in 2025 and a PE of 109.8[28] - **Telecommunications**: Zhongji Xuchuang (300308.SZ) with a projected EPS of 9.47 in 2025 and a PE of 64.4[28] Risk Factors - Economic recovery may fall short of expectations, leading to slow growth or stagnation[34] - Significant changes in individual stock fundamentals could adversely affect performance[34]

Core Insights - The hotel and catering sector increased by 2.63% on December 31, with Shoulu Hotel leading the gains [1] - The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1] Sector Performance - Shoulu Hotel (600258) closed at 16.75, up 4.17%, with a trading volume of 221,200 shares and a transaction value of 367 million yuan [1] - Jinjiang Hotel (600754) closed at 25.27, up 3.78%, with a trading volume of 169,100 shares and a transaction value of 423 million yuan [1] - Quanjude (002186) closed at 11.78, up 1.99%, with a trading volume of 77,400 shares and a transaction value of 90.11 million yuan [1] - JINLING Hotel (601007) closed at 7.81, up 1.17%, with a trading volume of 88,800 shares and a transaction value of 68.69 million yuan [1] - Tongqinglou (605108) closed at 19.22, up 1.00%, with a trading volume of 42,300 shares and a transaction value of 81.02 million yuan [1] - Huatian Hotel (000428) closed at 3.30, up 0.92%, with a trading volume of 173,400 shares and a transaction value of 56.89 million yuan [1] - Junxi Hotel (301073) closed at 26.06, up 0.81%, with a trading volume of 54,300 shares and a transaction value of 141 million yuan [1] - Xi'an Catering (000721) closed at 8.95, up 0.11%, with a trading volume of 135,200 shares and a transaction value of 121 million yuan [1] - ST Yunwang (002306) closed at 1.99, down 4.78%, with a trading volume of 357,600 shares and a transaction value of 71.47 million yuan [1] Capital Flow - The hotel and catering sector saw a net inflow of 21.16 million yuan from main funds, while retail investors experienced a net outflow of 36.62 million yuan [1] - Jinjiang Hotel had a main fund net inflow of 26.80 million yuan, while retail investors had a net outflow of 40.85 million yuan [2] - Shoulu Hotel had a main fund net inflow of 22.59 million yuan, with a retail net outflow of 24.93 million yuan [2] - Quanjude had a main fund net inflow of 4.52 million yuan, with a retail net outflow of 0.27 million yuan [2] - Tongqinglou had a main fund net inflow of 0.72 million yuan, with a retail net outflow of 2.12 million yuan [2] - Huatian Hotel had a main fund net outflow of 3.40 million yuan, with a retail net inflow of 3.03 million yuan [2] - Junxi Hotel had a main fund net outflow of 6.38 million yuan, with a retail net inflow of 4.68 million yuan [2] - Xi'an Catering had a main fund net outflow of 11.48 million yuan, with a retail net inflow of 18.37 million yuan [2] - ST Yunwang had a main fund net outflow of 12.36 million yuan, with a retail net inflow of 3.51 million yuan [2]

证券代码:600754/900934 证券简称:锦江酒店/锦江B股 公告编号:2026-001 上海锦江国际酒店股份有限公司 关于使用部分闲置募集资金进行现金管理到期 赎回并继续进行现金管理的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 现金管理受托方：中国建设银行股份有限公司上海浦东分行、上海浦东 发展银行股份有限公司闸北支行（以下简称"建设银行浦东分行"、"浦发银行 闸北支行"） 现金管理履行的审议程序：上海锦江国际酒店股份有限公司（以下简称 "锦江酒店"、"公司"或"本公司"）于 2025 年 6 月 30 日召开公司第十一届 董事会第二次会议，审议通过了《关于使用部分闲置募集资金进行现金管理的议 案》，同意公司自董事会审议通过之日起 12 个月内使用不超过 190,000.00 万元 暂时闲置募集资金进行现金管理，在前述额度和期限内，资金可循环滚动使用， 单个产品的持有期限不超过 12 个月。具体内容详见公司于 2025 年 7 月 1 日在上 海证券交易所网站(www.sse.com.cn ...