Gelonghui, Feb. 21 | CICC released a report stating that travel data for the Chinese Spring Festival travel season is impressive, and there was a marked increase in passenger traffic during the Spring Festival in scenes such as restaurants, real-time retail of supermarket chains, and shopping malls. According to the Ministry of Commerce's business big data monitoring, sales of key supermarket chains in real-time retail and key monitoring catering companies increased by 10% and 17%, respectively, during the Spring Festival. The bank mentioned that during the Spring Festival, the average daily traffic in shopping malls across the country increased by 24% year-on-year. Local lifestyle service platforms such as Meituan and Douyin performed brilliantly during the Spring Festival. For example, the average daily consumption of Meituan's domestic Spring Festival lifestyle service industry during the Spring Festival holiday increased by 36% year on year. The average daily consumption of Douyin Life Service increased by 153% year-on-year, with food orders increasing by 99%. In addition, there is strong demand for Lunar New Year gifts/food/ready-to-eat food in the mainland, and the bank expects snack food/dairy/drinks/catering chains (such as beer/frozen) to benefit greatly. Recommended stocks to focus on include Yili Co., Ltd., Ganyuan Foods, Yantian Shop, Dongpeng Drinks, Mengniu Dairy, China Resources Beer, Tsingtao Brewery, Qianwei Yang Chef, and Yasui Foods. Among them, Mengniu and Dry Beer were rated as “outperforming the industry”. The target prices were HK$30 and HK$40.9, respectively.