??????|?2024??:??,???

2024????????????,??????????,?????????

?????????????????(WTTC)????????????,2024??????????2019?????????????11%,????????2024???????,?,????,??????,????????????????,??????

??????????????????????,“??+”???????????????

?,2024????????????????????,2023?????????????????,??2019??,???????????????3.7???????????????????,??????????????????????????,???????,???????????????,?????????????2024?????????????“?”,????????????????????????“???????????”“???????”“???????????????”??????,?????

??????????????,??2024??????????,?????????????23%???????????,??????????????????????????????????????,???????3?????????????,?70%?????????????90????????????00???????????,8??3A?????

????????,???????????????????????????,????????????“??+”?,???

?,2024??,??????????414%,??95??7?,?????????????????,????????????????????????????????,??“??”????????,????193%?

??????????46??????????

??????????????«2024??»???????????????,2024???????????????46????????????????,?????3:7,???????????????,??2030?3000??????????????????????????,????15%?

“????????,??????????,?,???”?????????????????,??????????????,“???????????????????,?????????????????”

??«2024?????????????»???????,2024???????????80%,????30%???????????????,?????,????“??”???????????????????????????????2024?????????????????7????????????

???“?????????”???????,2024??????????????,90???????????00??,??00?2??????????????????,??????“?????????????”,05????5????

????????,?????????????????,2024??????0.7????????????,???????????????3.6????

????,??????????????,???,???????“??”?????????????????,??,??1000????????????,?????????????

??????????????????????????,???????????12?,??????????????????????36.81%,?????????????23%,?????????????

?????????????2024?????????????,??????????50????????????????,?????,2024????,??????2023??????22%,??????????,31%?2019??????????????2??????????????????,?????,???????

???????+???????????????????,????????????????10%,??????????????????????????3??????????????????????????20%?

“????,??2025???????,?????????,??????,??,?????????????????,?????????????????”????????

???????????????

?????????????????????????,???????????,?????

????????????????????????????,???????????????,???????????????????????,????????????????????,?????,???????????,?????,????????????????

????????????,???????????????????“??”??????,2024??????????????

2024??,???????????????????,??????????????????240????????????????????,???????“China Travel”??????????????,???????????????????

2024????,????????????????1??????????????????,???????54?????????189%?????????????????????????????????????????????????????????????????????????????????????????TOP10?,???????????????????????????????????????????????????????????????????????????,2024????????????????,??4???????1????????????????,?????

?????????????????????????,??????????????????????,??TOP20???,?????????????????17?????????,??????????????????????????????TOP5????????????????

??????,?,???????????OCC(???)?ADR(??)?????????,????????????????,????

“??,??????,??????????????????????????????????????????????????????,??????????????????,??,????????????????????????????????/????????????????????????”???????

???????????,2024????“???????????”,????????,??????,???????????????????,??????,??1????????????????????????????,2025??????,????,??????????????????,?????????????????????????????(??)

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????:1?????sn????:??????

2?????

3????????????

4??????

5??????????

??????|?2024??:??,???

2024????????????,??????????,?????????

?????????????????(WTTC)????????????,2024??????????2019?????????????11%,????????2024???????,?,????,??????,????????????????,??????

??????????????????????,“??+”???????????????

?,2024????????????????????,2023?????????????????,??2019??,???????????????3.7???????????????????,??????????????????????????,???????,???????????????,?????????????2024?????????????“?”,????????????????????????“???????????”“???????”“???????????????”??????,?????

??????????????,??2024??????????,?????????????23%???????????,??????????????????????????????????????,???????3?????????????,?70%?????????????90????????????00???????????,8??3A?????

????????,???????????????????????????,????????????“??+”?,???

?,2024??,??????????414%,??95??7?,?????????????????,????????????????????????????????,??“??”????????,????193%?

??????????46??????????

??????????????«2024??»???????????????,2024???????????????46????????????????,?????3:7,???????????????,??2030?3000??????????????????????????,????15%?

“????????,??????????,?,???”?????????????????,??????????????,“???????????????????,?????????????????”

??«2024?????????????»???????,2024???????????80%,????30%???????????????,?????,????“??”???????????????????????????????2024?????????????????7????????????

???“?????????”???????,2024??????????????,90???????????00??,??00?2??????????????????,??????“?????????????”,05????5????

????????,?????????????????,2024??????0.7????????????,???????????????3.6????

????,??????????????,???,???????“??”?????????????????,??,??1000????????????,?????????????

??????????????????????????,???????????12?,??????????????????????36.81%,?????????????23%,?????????????

?????????????2024?????????????,??????????50????????????????,?????,2024????,??????2023??????22%,??????????,31%?2019??????????????2??????????????????,?????,???????

???????+???????????????????,????????????????10%,??????????????????????????3??????????????????????????20%?

“????,??2025???????,?????????,??????,??,?????????????????,?????????????????”????????

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????????????,???????????????????“??”??????,2024??????????????

2024??,???????????????????,??????????????????240????????????????????,???????“China Travel”??????????????,???????????????????

2024????,????????????????1??????????????????,???????54?????????189%?????????????????????????????????????????????????????????????????????????????????????????TOP10?,???????????????????????????????????????????????????????????????????????????,2024????????????????,??4???????1????????????????,?????

?????????????????????????,??????????????????????,??TOP20???,?????????????????17?????????,??????????????????????????????TOP5????????????????

??????,?,???????????OCC(???)?ADR(??)?????????,????????????????,????

“??,??????,??????????????????????????????????????????????????????,??????????????????,??,????????????????????????????????/????????????????????????”???????

???????????,2024????“???????????”,????????,??????,???????????????????,??????,??1????????????????????????????,2025??????,????,??????????????????,?????????????????????????????(??)

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