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2026-10-13 12:57:55 CMBI released a research report stating that consumption momentum during China's National Day Golden Week was mild, broadly similar to the trend seen during the Dragon Boat Festival holiday. The broker maintained an "Outperform" rating on China's consumer sector. In terms of stock selection, the broker recommended investors choose consumer staples stocks with strong earnings visibility, stable cash flow and attractive dividends, as well as oversold discretionary consumer and tourism stocks supported by holiday consumption activities. The broker cited data showing that total domestic tourism spending from Oct 1 to 7 reached RMB738.4 billion, with daily average growth of 4.3% YoY, similar to the Dragon Boat Festival holiday. Tourist trips reached 826 million, with daily average growth of 6.3% YoY, outperforming the Dragon Boat Festival holiday. However, per capita travel spending fell 1.9% YoY, significantly weaker than 1H26. During the period, cross-regional passenger traffic reached 2.142 billion trips, or a daily average of 306 million trips, up 0.6% YoY, similar to the Dragon Boat Festival holiday. The report mentioned that data showed trips of four days or longer accounted for more than 60% of domestic leisure tourism, the first time since 2024. In addition, catering service revenue rose 9% YoY, including 15.5% growth in snacks and 30.6% growth in fast food. Driven by rapid growth in freshly made tea beverages, beverage revenue surged more than 200% YoY. However, average daily box office revenue during the period fell 27.4% YoY, while ticket prices dropped 0.77%. (sl/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |