Investment Rating - The report rates the industry as "Overweight" [1] Core Insights - The report highlights the upcoming "2026 Spring Festival Special Activity Plan" aimed at boosting consumption during the holiday season [3] - It emphasizes the positive outlook for travel-related sectors, including hotels, duty-free shops, and scenic spots, due to improved vacation policies and anti-monopoly measures in the OTA sector [4] - The report also notes the potential in the gold and jewelry market, recommending stocks with low valuations and improved competitive landscapes [4] - The impact of subsidies on the milk tea sector is acknowledged, with specific recommendations for brands benefiting from these subsidies [4] - AI applications and undervalued new consumer sectors are identified as areas of interest, with several companies recommended for investment [4] Summary by Sections Travel and Hospitality - The report recommends several hotel stocks, including Huazhu Group, ShouLai Hotel, and JinJiang Hotels, as well as duty-free stocks like China Duty Free Group [4] - Scenic spots such as Emei Mountain A, Jiuhua Tourism, and Huangshan Tourism are highlighted as investment opportunities [4] Gold and Jewelry - Stocks like Caibai Co., Luk Fook Holdings, and Laopuhuangjin are recommended based on short-term data exceeding expectations and improved competitive dynamics [4] New Consumer Trends - Companies such as Kangnait Optical, Huatu Shanding, and Tianli International Holdings are suggested for their potential in AI applications and new consumer trends [4] Low Valuation and High Dividend Stocks - Recommendations include Jiangsu Guotai, Yum China, and Haidilao, focusing on low valuation and high dividend yield stocks [4] Market Performance - The report notes a decline of 0.91% in the retail sector and a rise of 0.70% in consumer services, ranking them 20th and 9th respectively among 30 industries [4] - Notable stock performances include Junting Hotel (+10.38%) and Haidilao (+8.64%) [4] Industry Updates - The report discusses the issuance of a special activity plan by multiple government departments to promote various consumption sectors [4] - It also mentions the acceptance of the first commercial real estate REITs by the Shenzhen Stock Exchange [4] - Recent acquisitions, such as Meituan's purchase of Dingdong Maicai's China business for approximately $717 million, are highlighted [4]

Investment Rating - The report rates the industry as "Overweight" [1] Core Insights - The report highlights the upcoming "2026 Spring Festival Special Activity Plan" aimed at boosting consumption during the holiday season [3] - It emphasizes optimism towards tourism-related sectors, including hotels, duty-free shops, and scenic spots, due to improved vacation policies and ongoing anti-monopoly measures in the OTA sector [4] - The report also suggests a favorable outlook for the gold and jewelry sector, recommending stocks with low valuations and improved competitive landscapes [4] - The impact of subsidies on the milk tea industry is noted, with specific recommendations for brands benefiting from these initiatives [4] - AI applications and undervalued new consumer sectors are highlighted, with several companies recommended for investment [4] Summary by Sections Investment Highlights - The report suggests continued optimism for tourism-related sectors, recommending specific companies such as Huazhu Group, ShouLai Hotel, and China Duty Free Group [4] - It also recommends gold and jewelry companies like Caibai Co., Luk Fook Holdings, and Laopuhuangjin, focusing on those with short-term data exceeding expectations [4] - The milk tea sector is expected to benefit from subsidies, with recommendations for brands like Guming and Hushang Ayi [4] - AI and new consumer applications are highlighted, with recommendations for companies like Kangnait Optical and Huatu Shanding [4] - Low valuation and high dividend yield stocks are recommended, including Jiangsu Guotai and Haidilao [4] Market Review - The report notes a decline of 0.91% in the retail sector and a rise of 0.70% in consumer services, ranking them 20th and 9th respectively among 30 industries [4] - Notable stock performances include Junting Hotel (+10.38%) and Haidilao (+8.64%) [4] Industry Updates - The report mentions the issuance of a special activity plan by multiple government departments to promote various consumption sectors [4] - It also notes the acceptance of the first commercial real estate REITs by the Shenzhen Stock Exchange, expanding the scope to retail, hotels, and office buildings [4] - Recent acquisitions, such as Meituan's purchase of Dingdong Maicai's China business for approximately $717 million, are highlighted [4] Company Announcements - Key announcements include the resignation of the general manager of HeBai Group and the signing of a land compensation agreement by a subsidiary of an agricultural products company [4]

格隆汇2月4日丨江苏国泰(002091.SZ)在投资者互动平台表示，公司供应链服务以消费品进出口贸易为 主。2025年1–6月，公司境外收入占主营业务收入的82.78%，产品主要销往美国、欧盟、孟加拉、越 南、日本等国家和地区。 ...

证券日报网讯 2月2日，江苏国泰在互动平台回答投资者提问时表示，公司严格遵守《深圳证券交易所 股票上市规则》的相关规定履行信披义务。二级市场股价波动受宏观经济环境、行业政策、市场情绪等 多重因素影响。未来，公司将继续深耕主业，优化经营管理，严格按照相关法律法规的要求，持续做好 生产经营工作，努力提高企业内在价值和股东的长期回报，与投资者分享公司成长和发展的成果。敬请 广大投资者注意投资风险。 （文章来源：证券日报） ...

从资金流向上来看，当日贸易板块主力资金净流出4.22亿元，游资资金净流入7093.14万元，散户资金净 流入3.52亿元。贸易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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600710 | 苏美达 | 317.53万 | 1.07% | 949.27万 | 3.19% | -1266.80万 | -4.25% | | 600287 | 苏蒙时尚 | 62.60万 | 1.44% | 275.90万 | 6.35% | -338.51万 | -7.79% | | 600608 | *ST沪科 | -36.03万 | -1.93% | -15.17万 | -0.81% | 51.20万 | 2.74% | | 002072 | 凯瑞德 | -150.41万 | -5.04% | 17.67万 | 0.59% | 132.74万 | 4.44% | | 600278 东方创业 | | -313. ...

Investment Rating - The report assigns an "Accumulate" rating for the industry [4]. Core Insights - The civil aviation sector is expected to see record-high passenger transport volumes during the Spring Festival [2]. - The report highlights optimism for travel-related sectors, including hotels, duty-free shops, and scenic spots, due to the upcoming holiday and improved vacation policies [4]. - The report suggests selecting short-term outperformers in the gold sector as the recent surge in gold prices may be ending [4]. - AI applications and undervalued new consumption sectors are also recommended for investment [4]. Summary by Relevant Sections Industry Overview - The report notes a significant increase in domestic flight ticket bookings, with over 7.16 million tickets reserved as of January 29, 2026, reflecting a year-on-year growth of approximately 16% [4]. - International flight bookings also show slight growth, with over 1.72 million tickets reserved [4]. Retail Sector Insights - The report cites a Bain & Company report indicating a 3% to 5% contraction in China's personal luxury goods market in 2025, although this represents a significant improvement compared to the previous year's decline [4]. Company Announcements - Cai Bai Co. expects a net profit of 1.06 billion to 1.23 billion RMB for 2025, a year-on-year increase of 47.43% to 71.07% [4]. - Lai Shen Tong Ling anticipates a turnaround with a projected net profit of 58 million RMB for 2025, compared to a loss of 184 million RMB in the previous year [4]. - Yu Garden Co. expects a net loss of approximately 4.8 billion RMB for 2025, a significant decline from a profit of 125 million RMB in the previous year [4]. - Cuihua Jewelry forecasts a net profit of 21 million to 31 million RMB for 2025, a decrease of 85.69% to 90.31% compared to the previous year [4]. Key Stock Recommendations - The report recommends several stocks across various sectors, including: - Hotels: Huazhu Group, ShouLai Hotel, JinJiang Hotels [4]. - Duty-free: China Duty Free Group [4]. - Scenic spots: Emei Mountain A, Jiuhua Tourism, Huangshan Tourism [4]. - Gold sector: Cai Bai Co., Luk Fook Holdings, Lao Pu Gold [4]. - AI and new consumption: Kangnait Optical, Huatu Shanding, Tianli International Holdings [4].

Investment Rating - The report assigns an "Accumulate" rating for the industry [4]. Core Insights - The upcoming Spring Festival is expected to see record-high passenger transport volumes in civil aviation [2]. - The report highlights optimism for travel-related sectors, including hotels, duty-free shops, and scenic spots, due to improved vacation policies and anti-monopoly measures in online travel agencies (OTAs) [4]. - The report suggests selecting short-term outperformers in the gold market, as the recent surge in gold prices may be ending [4]. - AI applications and undervalued new consumption sectors are also recommended for investment [4]. Industry Updates - The State Council issued a plan to accelerate the cultivation of new growth points in service consumption, urging local governments to enhance policy design and support measures [4]. - As of January 29, 2026, domestic flight ticket bookings for the Spring Festival exceeded 7.16 million, with a daily average increase of approximately 16% year-on-year [4]. - Retail sector insights indicate a 3% to 5% contraction in China's personal luxury goods market in 2025, showing signs of recovery compared to a significant decline in 2024 [4]. Company Performance Forecasts - Cai Bai Co. expects a net profit of 1.06 billion to 1.23 billion RMB for 2025, representing a year-on-year increase of 47.43% to 71.07% [4]. - Lai Shen Tong Ling anticipates a turnaround with a projected net profit of 58 million RMB for 2025, compared to a loss of 184 million RMB in the previous year [4]. - Yu Garden Co. forecasts a net loss of approximately 4.8 billion RMB for 2025, a significant decline from a profit of 125 million RMB in the previous year [4]. - The report includes various companies with "Accumulate" ratings, such as Zhou Dafu, Cai Bai Co., and others, with detailed profit forecasts and valuation metrics [5].

证券日报网讯1月30日，江苏国泰（002091）在互动平台回答投资者提问时表示，2025年前三季度公司 实现营业收入296.04亿元，同比增长2.06%；实现归母净利润9.35亿元，同比增长5.37%。与行业发展保 持一致步调，展现出较强的抗压能力和竞争力，实现了稳中向好、提质增效的发展态势。公司主营业务 包括供应链服务和化工新能源业务两大板块。公司控股子公司瑞泰新材（301238）(股票代码：301238) 主要从事锂离子电池材料以及硅烷偶联剂等化工新材料的研发、生产和销售。其业务的发展情况，在一 定程度上对公司化工新能源业务板块形成积极支撑。 ...

证券日报网讯1月29日，江苏国泰（002091）在互动平台回答投资者提问时表示，根据《募集说明书》 的约定，公司本次可交债发行规模为12亿元人民币，债券期限为3年，票面利率为0.01%，在本期债券 存续期限内保持不变，本期债券票面利率采取单利按年计息，不计复利，并拟全部用于偿还银行贷款。 未来若有相关信息触及公司信息披露义务，公司将严格按照有关法律法规的规定和要求及时履行信息披 露义务。 ...

每经AI快讯，江苏国泰1月29日晚间发布公告称，公司2025年度拟计提资产减值准备金额约2.36亿元 ~2.92亿元，主要系公司控股子公司瑞泰新材计提固定资产减值准备造成。本次拟计提资产减值准备预 计将减少公司2025年归属于母公司股东的净利润1.57亿元~1.9亿元，减少归属于母公司股东权益1.57亿 元~1.9亿元。本次拟计提减值准备的金额未经审计，最终数据以公司披露的2025年年度报告为准。 每经头条（nbdtoutiao）——水贝黄金平台"杰我睿"兑付危机调查：40倍杠杆对赌，金价越涨平台越 亏！老板自称"还在深圳"，投资者：兑付方案本金打两折，无法接受 （记者 曾健辉） ...