Huachuang Securities: Qingming holiday travel shows resilience, optimistic about long-term cultural and tourism sector.

Huachuang Securities released a research report stating that the performance of cultural tourism data during the Qingming holiday was impressive, with a total of 840 million people moving across regions in the society, an increase of about 5% compared to the same period last year. In addition, data from Fliggy showed that domestic hotel bookings during the Qingming holiday increased by about 40% compared to the same period last year. The better-than-expected performance of the Qingming holiday data sets a positive tone for the upcoming May Day and summer peak seasons. Combining with the continued introduction of cultural tourism policies to stimulate consumption across various regions, there are good investment opportunities in the tourism and related consumption sectors. Huachuang Securities' main points are as follows: Qingming travel shows resilience, fully optimistic about the recovery of service consumption. The cultural tourism data during the Qingming holiday was impressive, with a total of 840 million people moving across regions in the society, an increase of about 5% compared to the same period last year. A total of 5.77 million visitors were received in A-level tourist attractions in Sichuan province, with ticket revenue of 60.74 million yuan, a year-on-year increase of 14.51%. A total of 8.37 million visitors were received in A-level tourist attractions in Hubei province, a year-on-year increase of 14.05%. The tourism data from various regions confirms the resilience of residents' willingness to travel and the marginal improvement in consumption activity. The entire travel chain prospers, resonating with the lower-tier market and long-term travel It is estimated that the railway passenger volume is about 57.679 million, an increase of about 8.2% year-on-year. Waterway passenger volume is 3.725 million, an increase of about 9.8% year-on-year. Civil aviation passenger volume is 5.524 million, a decrease of 1.3% year-on-year. Road passenger flow is 778.45 million, an increase of about 5.8% year-on-year. In addition, Fliggy data shows that domestic hotel bookings during the Qingming holiday increased by about 40% year-on-year, and Tongcheng Travel data shows that hotel bookings in Wuhan increased by 176% year-on-year. The overall tourism market is showing a strong momentum. Risk warning A decline in the popularity of travel; A decrease in residents' income and job prospects; Macroeconomic growth falling short of expectations, etc.