Is the consumer sector all good?Huanxi Media fell by more than 12%, the institution said that it is necessary to pay attention to the emergence of an inflection point in fundamentals
News from the Financial Associated Press on January 30 (Editor Hu Jiarong)Consumption sectors such as catering and movies in the Hong Kong stock market opened sharply lower today. Among them, Jiumaojiu (09922.HK), Xiabuxiabu (00520.HK), Helens (09869.HK), Huanxi Media (01003.HK), IMAX China (01970.HK) fell by 7.59%, 6.74%, 5.20%, 12.16%, and 9.88% respectively.
In fact, benefiting from the positive impact of the Spring Festival, most consumer-related stocks strengthened sharply last Thursday and last Friday, but today’s trend shows a trend of adjustment. For example, Huanxi Media turned from rising to falling in early trading.
Note: In terms of Huanxi Media’s early market trend news, according to Maoyan Professional Edition, in the 2023 Spring Festival (January 21-January 27), the single-day box office exceeded 1 billion yuan for 5 consecutive days. Among them, the film “Manjianghong” produced by Huanxi Media has a single-day box office of over 400 million yuan for 6 consecutive days, and finally earned a total box office of 2.692 billion yuan, becoming the box office champion of this year’s Spring Festival. However, this news did not make Huanxi Media stronger again. The stock price rose by more than 5% in early trading, and now it has fallen by more than 12%.
All this is not without investors worrying whether the consumer sector will peak in the short term?
Spring Festival consumption recovers as expected
As Tianfeng Overseas pointed out, the trend of consumption recovery during the Spring Festival is obvious. In terms of movies, from January 21st to 25th (New Year’s Eve to the fourth day of the first month), the box office revenue was 4.66 billion yuan, a year-on-year increase of 5.8%; the number of movie viewers was 85.98 million, a year-on-year increase of 5.2%; A year-on-year increase of 33.1%; the average ticket price was 54.2 yuan, a year-on-year increase of 0.6%.
In terms of tourism, according to the news released by the Ministry of Culture and Tourism on January 27, according to the calculation of the data center of the Ministry of Culture and Tourism, there were 308 million domestic travel trips during the Spring Festival holiday this year, a year-on-year increase of 23.1%, returning to 88.6% of the same period in 2019. ; Realized domestic tourism revenue of 375.843 billion yuan, a year-on-year increase of 30%, recovering to 73.1% of the same period in 2019.
On the Ctrip platform, domestic and foreign travel orders during the Spring Festival have ushered in a three-year peak, and the overall travel orders have increased by 4 times compared with the Spring Festival of the Year of the Tiger. In addition, the overall order for outbound travel during the Spring Festival increased by 640% year-on-year, the number of overseas hotel bookings by mainland tourists increased by more than 4 times year-on-year, and the order for cross-border air tickets increased by more than 4 times.
On January 27, Meituan released consumption data for the 2023 Spring Festival, showing that the average daily consumption scale in the first six days of the holiday increased by 66% compared with the 2019 Spring Festival. In the first 6 days of the Spring Festival holiday, the number of orders for multiple dine-in set meals across the country increased by 53% year-on-year. The upsurge of returning home during the Spring Festival and going out to play after the festival has driven the rapid growth of consumption in other places. The data shows that consumption in other places increased by 76% compared with the same period last year. Among them, Sanya, Chengdu, Chongqing, Dali, Beijing and other places have become the top five cities with the largest number of dine-in orders from consumers from other places.
Pay attention to the fundamental inflection point of some individual stocks
From this point of view, consumption recovered as scheduled during the Spring Festival, which really boosted market confidence. Tianfeng pointed out that at present, we still need to pay attention to “the restoration of the overall valuation of Hong Kong stocks” and “the fundamental inflection point of some targets under the recovery”.
Among the specific targets, Tianfeng recommends paying attention to: social platforms represented by Tencent Holdings; Pinduoduo, Meituan, and Alibaba represented by e-commerce and local life; Ctrip Group represented by tourism, Tongcheng Travel; Maoyan Entertainment, Alibaba Pictures, and IMAX CHINA are represented by cinema chains.
