Before the start of May Day holiday24hourbingonearmeThe relevant listed companies of the tourism industry chain were investigated by a large number of organizations.
Specifically, Boshi Fund, Eastern Securities Management, Great Wall Fund, Southwest Securities (600369) and other institutions conducted research, including Bohai Ferry (603167), China Youth Travel Service (600138) and three Gorges Tourism.
The key issues concerned by the organization include the performance of the passenger roll transport market of Bohai ferry during the "May Day" period, the recovery trend of CYTS travel agency business, and the cruise ship operation and new capacity plan of the three Gorges tourism.
Bohai Sea Ferry investigation by Boshi Fund, Eastern Securities Management, etc.
On April 17, Bohai Ferry held an online research meeting, which attracted the participation of many institutions, including Xinhua assets, Guojin Securities (600109), Boshi Fund, East Securities Management, CITIC Construction Investment (601066) Securities, founder Securities (601901), Southwest Securities, Shenwanlingxin Fund, Nuoan Fund and so on.
Bohai Ferry is the first shipping company in Shandong Province to land on the A-share market, and it is one of the largest passenger roll transport enterprises with the strongest comprehensive transport capacity in Asia. The company is mainly engaged in passenger roll transportation, international tourism, international passenger boxes, financial leasing, fuel supply and other business.
At present, the company owns "Bohai Silver Pearl", "Bohai Pearl", "Bohai Jade Pearl", "Bohai Pearl", "Bohai Jade Pearl", "Bohai Cuizhu", "Bohai Crystal Pearl", "Bohai Diamond Pearl", "Bohai Mazhu" and two large ro-ro ships such as "Bohai Pearl" and "Bohai Golden Pearl". It mainly operates three golden routes from Yantai to Dalian, Penglai to Lushun and Longkou to Lushun.24hourbingonearmeAn international luxury cruise ship, "China Taishan", mainly operates on international routes such as China-Japan, China-South Korea, China-Russia, China-Vietnam and mainland-China Taiwan routes.
By the end of the first quarter of 2023, the company's institutional investors include Juming Investment, BoCom Schroeder Fund, Huatai Berry Fund, Huitianfu Fund and so on. Well-known fund managers who hold positions include Yang Jinjin and Wang Chong of BoCom Schroeder Fund.
When asked about the company's current passenger traffic, the company said that since the beginning of April, there are clear signs of recovery. Some bulk transport vehicles began to increase, such as clam seedlings, steel, auto parts and so on. In terms of passenger volume, with the "May Day" short holiday approaching, the number of tickets sold in advance is also increasing. The passenger transport market is expected to pick up gradually with the improvement of the domestic economy. When asked about the passenger volume expected for this summer, the company said that judging from the passenger volume of this year's Spring Festival transportation and the pre-sale of tickets during the May Day short holiday, it is preliminarily judged that this summer will still be the peak of passenger flow, and the peak passenger load rate of ships is expected to hit a new high.
Southwest Securities, Northeast Securities (000686), etc.
On April 3, CYTS held a research meeting, which attracted the participation of many institutions, including Societe Generale Securities (601377), Southwest Securities and Northeast Securities.
CYTS is mainly engaged in tourism and high-tech investment, as well as inbound tourism, domestic tourism and outbound tourism for Chinese citizens at their own expense. As a leading brand and integrated operator in China's tourism industry, the company has a series of tourism enterprises and product brands, such as CYTS Convention and Exhibition, Wuzhen, Landscape Hotel, Travel Network, Vancouver, Guangzhou, Nanjing, Hangzhou, Shenzhen and other core cities at home and abroad.
By the end of the first quarter of this year, many institutional investors held shares in CYTS, including Wells Fargo Fund, Huaxia Fund, ICBC Credit Suisse Fund, East China Sea Fund and so on.
During the survey, some institutional investors asked how to view the recovery trend of travel agency business in 2024. The company said that the travel agency business is recovering, but there is still a large gap between it and before the epidemic, especially in the outbound travel market. From the perspective of domestic tourism, the supply side is relatively scattered, and the number of travel agencies in China is about 5 by the end of 2023.24hourbingonearme.60,000, an increase of about 1. 1 over 2019.24hourbingonearme.70,000, with fierce competition in subdivided fields, it is difficult for large travel agencies to give full play to their strong competitive advantage. The focus of large travel agencies is still on the outbound market, but it will take time to return to 2019 due to resources, rising prices in destination countries, exchange rates and other factors.
CYTS said that the company has great advantages in outbound travel, and its service system is perfect. At present, it is not only a product supplier, but also attaches importance to channel building. At the same time, it has also carried out internal resource integration. Under the circumstances of the overall market recovery, CYTS travel agency business can do better.
Research on the three Gorges Tourism by the Great Wall Fund and Societe Generale Securities
On April 23, the three Gorges Tourism Research Conference attracted the participation of many institutions, including the Great Wall Fund, Societe Generale Securities and so on.
Three Gorges Tourism is a first-class enterprise of road passenger transport assessed by China Road Transport Association. The company's main business is passenger transport service and car distribution. Among them, passenger transport service is the company's core business, covering road passenger transport, Yangtze River water high-speed passenger transport and automobile passenger station, port station service. After years of development, the company has formed a diversified passenger service capacity that integrates road passenger transport, water passenger transport, tourist passenger transport, passenger transport port and station services.
During the research, some investors asked about the company's cruise ship situation and the new capacity in recent years. The three Gorges Tourism replied that as of March 31, 2024, the company had 27 cruise ships, 6 luxury cruise ships of the Yangtze River three Gorges series, 10 luxury cruise ships of the Xiling Gorge series, 3 cruise ships of the three Gorges Gallery series, 4 cruise ships of the Gaoxia Pinghu series, 2 chained vessels of the three Gorges families, 1 Changyou and 1 Jinfei. In terms of new capacity, two new energy cruise ships in Xiling Gorge will be put into operation at the end of April, adding about 1500 seats, which will further alleviate the problem of insufficient capacity during peak periods. At the same time, construction of two inter-provincial luxury cruise ships has also begun.
Responsible editor: tactical constancy
Proofread: Yang Lilin?
