Tongcheng-Elong Holdings Ltd

On August 20, the A-share tourism sector strengthened amid intraday volatility. Nanjing Commercial & Tourism and Cuivei Co. hit their daily limit up, while Baiona Qiancheng, Jiuhua Tourism, Jinpu Landscape, Ciwen Media, and Shaanxi Tourism also rose in tandem. On the news front, according to the State Council General Office's notice on holiday arrangements for 2026, the Mid-Autumn Festival holiday runs from September 25 to 27, a total of 3 days with no adjusted working days, while the National Day holiday runs from October 1 to 7 with adjusted working days, a total of 7 days. The two holidays are separated by only 3 working days. If consumers apply for leave during those 3 working days, they can piece together a super-long 13-day holiday from September 25 to October 7. Entering August, the "take 3 days off for a 13-day break" leave strategy quickly gained momentum in the tourism consumption market, directly driving a rapid rise in search and booking interest for long-haul and outbound travel. Inquiry volumes for related products on online travel platforms such as Ctrip, Tongcheng, and Tuniu rose noticeably. According to data from Qunar, as of August 10, booking interest for popular domestic cities during the Mid-Autumn and National Day holidays grew 30% year on year, while interest in popular outbound cities grew more than 50%. According to data from U-Tour, as of August 12, travel products for the National Day golden week had already accounted for 75% of customer intake, with the pace of bookings significantly faster than the same period last year, and overall trip registrations up 70% year on year. According to big data from the official civil aviation direct sales platform Umetrip, as of August 11, bookings for domestic flight tickets with travel dates from September 25 to October 7 exceeded 1.71 million, up about 7% year on year, while bookings for international and regional flight tickets exceeded 1.28 million, up about 11% year on year. BOC International analysis pointed out that this year's Mid-Autumn and National Day holidays are only 3 days apart, and some consumers have already pieced together a long holiday through the "take 3 days off for a 13-day break" approach. A longer holiday period is expected to help unleash demand for long-haul and cross-border travel. In the first half of 2026, domestic residents made 3.463 billion trips, an increase of 178 million over the same period last year, up 5.4% year on year, with total travel spending reaching 3.21 trillion yuan, up 2.0% year on year. With State Council approval, the Ministry of Culture and Tourism recently issued the 15th Five-Year Plan for building a strong tourism nation, proposing that by 2030 domestic residents will make 8.3 billion trips, total domestic travel spending will reach 7.7 trillion yuan, and inbound tourism will reach 190 million visits with total spending exceeding 150 billion US dollars.