Analysis of Zhongxin Tourism (002707) Consecutive Limit-Ups: Driven by Better-Than-Expected Spring Festival Travel Data

Zhongxin Tourism (002707) surged to a strong limit-up today, closing at RMB 8.26, and achieved a limit-up for the second consecutive trading day (2-consecutive limit-up streak), becoming a benchmark stock in the tourism and hotel sector that rallied against the market trend[1][2]. Against the backdrop of today’s overall volatile adjustment in the broader market (the Shanghai Composite Index fell by approximately 0.6%), the stock opened with a one-word limit-up, with stable closing orders during the session and light selling pressure, highlighting the high recognition of the stock by market funds[3].

can be attributed to the resonance of three forces. First, the company released the 2026 Spring Festival Travel Trend Report on January 12, 2026, which delivered significant positive news: domestic travel bookings surged 300% year-on-year, long-haul outbound travel grew 60%, and short-haul destinations saw an even larger year-on-year increase of 160%[4][5][6][7]. This better-than-expected booking data directly ignited the market’s bullish sentiment, providing solid fundamental support for the stock price. Second, the combination of the Spring Festival holiday effect – 2026 is known in the industry as “the longest Spring Festival holiday in history”, and the tourism market is gradually entering its peak season. Data from Qunar shows that as of January 14, hotel bookings in popular cities during the Spring Festival increased 70% year-on-year, while hotel bookings in Hainan after its customs closure surged more than 150% year-on-year[2]. Third, the ice-snow economy and winter escape tourism form a dual driver: bookings for ice-snow destinations such as Altay in Xinjiang and Changbai Mountain in Jilin are booming, while winter escape tourism products such as Hainan, Yunnan, and Southeast Asian islands are also popular, with bookings for Zhongxin’s ski-themed products exceeding 80%[4].

show that main funds recorded a net inflow of approximately RMB 340 million today, with a clear trend of active inflow of institutional capital[9]. The tourism and hotel sector index rose against the market today, hitting a new high in nearly 4 months, with significant sector linkage effects[2]. The concept of AI cooperation with Alibaba further adds a tech attribute: the company has successfully integrated Alibaba’s Tongyi Qianwen large language model with AI intelligent service platforms such as U-Escort. As a strategic investor, Alibaba holds 10.20% of the company’s shares and appoints directors to participate in decision-making, providing dual technical and capital guarantees for the company’s long-term development[8].

. Zhongxin Tourism’s limit-up is not an isolated event, but reflects the market’s deep recognition of the main line of tourism consumption recovery. From the perspective of the industrial chain, the better-than-expected Spring Festival travel data not only benefits Zhongxin Tourism itself, but also boosts sentiment for the entire tourism and hotel, aviation and airport, duty-free consumption and other sub-sectors. Notably, the implementation of AI cooperation with Alibaba marks that traditional tourism enterprises are actively embracing digital transformation, and this dual attribute of “consumption + technology” has high potential for valuation premium under the current market style.

. The market’s traditional perception of the tourism sector is stuck in the pattern of “pre-holiday speculation, post-holiday realization”, but the uniqueness of the 2026 Spring Festival lies in the super-long holiday coupled with multiple policy dividends (continuous expansion of visa-free policies, intensified consumption recovery policies), which may make the industry’s boom more sustainable than previous years. If consumption data during the Spring Festival continues to verify the recovery trend, the tourism sector is expected to switch from short-term theme speculation to medium-term growth logic.

. Against the backdrop of today’s broader market adjustment, main funds still chose to flow into the tourism sector on a large scale, indicating that institutional capital is conducting defensive position adjustments, preferring consumer sectors with fundamental support and relatively reasonable valuations. As a leading enterprise in the sub-sector, Zhongxin Tourism benefits from the trend of increasing industry concentration, and its medium-term allocation value is worth tracking.

Driving Factor	Details
Peak Season Data Verification	Spring Festival booking data continues to exceed expectations, and the industry is in an upward boom channel
Combination of Policy Dividends	The super-long holiday + visa-free policies + consumption recovery policies form multiple positive factors
Increased Fund Attention	Main funds have a large net inflow, with significant sector linkage effects
Relative Valuation Low	Compared with hot sectors such as AI and new energy, the tourism sector is at a relatively low valuation level

are mainly concentrated in the pressure of expectation realization. The stock price has closed at a limit-up for 2 consecutive trading days, accumulating a large number of profit-taking positions. If there is a lack of continuous follow-up funds, it may face the risk of a pullback after a surge due to profit-taking[9]. From a technical perspective, the position of the third limit-up (around RMB 9.09) will face significant pressure from unwinding locked-up positions.

require attention to seasonal fluctuation characteristics. The period after the Spring Festival is usually the traditional off-season for the tourism industry. If consumption data during the holiday fails to meet market expectations, there may be adjustments due to expectation revisions after the holiday. In addition, the degree of recovery in residents’ consumption willingness is still uncertain, and macroeconomic pressure may restrict tourism consumption.

: The broader market has shown signs of adjustment today, and it is necessary to guard against the spillover effect of the overall market decline on the tourism sector[3].

Zhongxin Tourism’s limit-up today is the result of the resonance of three factors:

. The Spring Festival travel data released by the company significantly exceeded expectations (300% increase in domestic travel bookings, 160% increase in short-haul travel), coupled with multiple themes such as “the longest Spring Festival holiday in history”, ice-snow economy, and AI cooperation with Alibaba, which pushed the stock to consecutive limit-ups. Main funds recorded a net inflow of RMB 340 million, indicating active inflow of institutional capital[9].

In the short term, the stock price has closed at a limit-up for 2 consecutive days and accumulated certain gains, so attention should be paid to the pressure of profit-taking. From a technical price perspective, the first resistance level is around RMB 9.09 (the third limit-up price), the second resistance level is the integer mark of RMB 10; the current support level is at the previous high of RMB 7.50, and the strong support level is near the gap at RMB 7.00. Market analysis expects that the probability of a consecutive limit-up on the next trading day is about 60% (moderately high), and it is more likely to present a high-level consolidation pattern[9].

In the medium term, the logic of the Spring Festival peak season is still being verified. If subsequent booking data continues to be positive, coupled with the background of consumption recovery, the stock price still has upside potential.

: Performance of tourism consumption data during the Spring Festival, fund inflow situation after the holiday, and sector rotation direction after the broader market stabilizes.