00999 Overview

Spring Festival Travel Rush: The first week of the 2026 Spring Festival travel rush saw significant growth in passenger flows, with strong flight and hotel bookings, indicating a positive outlook for leisure travel demand during the holiday period.

Market Optimism: CICC expressed optimism regarding the recovery of the social services sector, anticipating that leading enterprises will experience price rebounds or restoration of same-store sales due to a stabilizing competitive landscape.

Investment Recommendations: BofAS highlighted that YUM CHINA's 4Q25 results exceeded expectations, leading to slightly raised EPS forecasts, and recommended several companies including Luckin Coffee and Atour Lifestyle Holdings for investors.

Short Selling Data: The report included short selling data for various companies, indicating varying levels of short interest, with notable figures for YUM CHINA and HAIDILAO among others.

Southbound Fund Inflows: Morgan Stanley reports that all 27 major Hong Kong consumer stocks monitored experienced net inflows from southbound funds in July, with an average increase of 0.8 percentage points in southbound holdings month-over-month.

Stock Performance Overview: While 27 stocks saw inflows, 38 recorded outflows; notable inflows were seen in CR BEVERAGE and XIAOCAIYUAN, while CHINA RES BEER and SAMSONITE faced significant outflows. Year-to-date, 41 stocks have had inflows compared to 25 with outflows.