Reporter Li Qiaoyu

　　Up to now, the interim report of the listed travel company's performance has been disclosed.

The data shows that under the Shenwan industry classification, 19 listed travel companies in the attractions and tourism sectors all lost money in the first half of the year, of which 10 companies achieved profits in the same period last year, and their performance in the first half of this year turned from profit to loss year-on-year.

　　"It is to be expected that A-share listed tourism companies are generally losing money, which is a common phenomenon in the industry." Cheng Chaogong, chief researcher of Tongcheng Research Institute, told the "Securities Daily" reporter that the three major regional economic centers in my country have experienced a rebound in local epidemics, and the tourism industry is welcoming. The most difficult time since the epidemic has come.

From a structural point of view, A-share listed travel companies are mainly distributed in two major sectors: cultural tourism (including scenic spots, tourism performances and related industries) and travel agencies. These two sectors have been greatly affected by the epidemic, and the performance of related companies has been greatly affected. Shock, losses are inevitable.

　　Listed travel companies lose money across the board

　　According to the semi-annual report of CYTS, in the first half of 2022, due to the rebound of the epidemic in Beijing, Shanghai and other cities and the impact of stricter epidemic prevention policies, the company's operations continued to be under pressure. There is limited room for compression of fixed costs such as amortization. During the reporting period, the net profit attributable to shareholders of the listed company was -205 million yuan.

In the same period last year, the company achieved a net profit of 33.6239 million yuan attributable to shareholders of listed companies.

　　In the first half of this year, both Wuzhen Scenic Spot and Gubei Water Town under CYTS were temporarily closed. During the non-closed period, the operation of the scenic spot was also severely impacted by the normalized control of the epidemic. Due to repeated rounds of epidemics, some businesses were postponed or cancelled, and the company integrated marketing business. In the first half of 2022, the operating income was 351 million yuan, a year-on-year decrease of 52.11%, and the net profit was a loss of 22 million yuan. During the same period, the company's hotel business and travel agency business were also affected.

　　CYTS also stated that in the face of the complex and severe external environment, the company adhered to the general work principle of seeking progress while maintaining stability, focused on operation and production, strengthened refined management, continued to reduce costs and increase efficiency, and the loss rate in the second quarter narrowed.

　　Zhongxin Tourism's semi-annual report shows that in the first half of 2022, the company's total operating income was 126 million yuan, a year-on-year decrease of 59.60%; the net profit attributable to shareholders of the parent company was -80.8532 million yuan.

Affected by the short-term impact of the epidemic, the company's operating income decreased compared with the same period last year, but benefiting from strict control of various expenses and fixed costs, the company has achieved results in saving expenses, resulting in a significant decrease in expenses during the reporting period, and the loss compared with the same period last year. continue to narrow.

　　In addition to CYTS and Zhongxin Travel, the remaining 17 listed travel companies also suffered losses across the board.

"Compared with the same period last year, the tourism industry was significantly more severely impacted by the epidemic in the first half of this year. The recovery process of the entire industry slowed down significantly in the second quarter, and many sub-sectors experienced the most severe moment since the epidemic." Cheng Chaogong said.

　　Despite the sluggish performance of listed travel companies in the first half of the year, they have performed well in the secondary market.

　　Flush data shows that in the first half of this year, the Shanghai Composite Index fell 6.63%. As of the close on September 1, the Shanghai Composite Index fell 12.5% ​​this year; in the first half of this year, the Shenzhen Component Index fell 13.2%. The Component Index has fallen 21.17% this year; in the first half of this year, the ChiNext Index fell 15.41%, and as of the close on September 1, the ChiNext Index fell 23.74%.

Overall, the trend of the attractions and tourism sector surpassed the trend of the three major indexes. In the first half of this year, the scenic spot and tourism sector index rose by 28.86%. As of the close of September 1, the attractions and tourism sector index rose by 8.68%.

　　Talking about the performance of listed travel companies in the capital market, Wei Xiang, a professor at the Institute of Financial and Economic Strategy of the Chinese Academy of Social Sciences, told the "Securities Daily" reporter that the tourism industry is vulnerable to external factors, but after the impact, the tourism industry can still achieve The rapid rebound, the capital market is optimistic about the recovery of the tourism industry, thus raising its expectations.

　　Existing travel companies are planning overseas travel ahead of schedule

　　The summer parade has brought new vitality to the tourism industry.

　　Judging from the number of trips in the summer tourism market, Tuniu data shows that the number of tourists in July this year increased by 146% month-on-month. Since August, despite the sudden outbreak of epidemics in some popular destinations, the number of tourists in August still achieved 5% compared to July. a small increase in points.

　　Cheng Chaogong believes that the overall performance of this year's summer tourism industry is slightly better than expected.

After multiple rounds of repeated epidemics, the tourism industry has gradually formed a new strategy of "guerrilla warfare" and "quick fight and quick withdrawal".

On the whole, the overall recovery momentum of the tourism industry this year may be slightly weaker than last year, especially the first half of the year has a large gap with the same period last year, but the recovery situation in the second half of the year may be slightly better than the same period last year.

　　In addition, the market's expectations for the recovery of international travel have become stronger.

At present, there are already listed travel companies making arrangements for the overseas travel market in advance.

　　In August of this year, Zhongxin Travel announced that its high-end brand Miracle Travel has become a special partner of MSC Cruises on its 2024 global route, accumulating energy for the post-epidemic era and ready to meet new opportunities for cruise tourism development.

Zhongxin Tourism said that it hopes to use this global route as the entry point to regain confidence in the outbound tourism market.

　　In addition to the cruise market, the civil aviation market is also resuming overseas routes in an orderly manner.

On August 22, Hainan Airlines announced that it will resume its international route between Beijing and Manchester from August 22; on August 31, Juneyao Airlines announced that it plans to open a route between Nanjing and Seoul in early October.

　　"The gradual resumption of international travel is one of the important links in the overall layout of the current domestic 'six stability and six guarantees'. Since July, the supply of international flights has gradually improved, and policies such as visas have become more scientific and accurate. It is believed that with the gradual improvement of relevant response mechanisms Perfect, the orderly opening of international travel from the second half of this year to the first half of next year is worth looking forward to." Cheng Chaogong said.

　　Wei Xiang predicts that in October this year and around the Spring Festival next year, the domestic tourism market may usher in a rebound.

In terms of international travel, inbound travel may be the first to recover.

(Securities Daily)