CICC published a research report indicating that Zhuhai will be the first to resume tourist visas to Macau from August 12 of this year (including individual visas and group travel visas). All people entering the mainland from Macau (other than those with a history of residence in a foreign country or other overseas region within 14 days) who have a negative nucleic acid test certificate within 7 days or include negative nucleic acid test information within 7 days”Health code”, then centralized quarantine medical observation will no longer be carried out for 14 days.

According to the bank, continued relaxation (which may be extended to other cities and provinces in the next few months) is a positive step for Macau. In particular, it is currently only about 1.5 months until Golden Week 11. At the same time, it is believed that the early relaxation of travel groups and individual travel visas to Macao in Hong Kong may indicate that individual travel visa policies for Hong Kong and Macau will be decoupled from each other in the future. This has positive implications for Macau, including opportunities to achieve some of the goals in this year's Policy Address: such as increasing the number of cities covered by individual travel visas; and cooperating with Guangdong Province to further relax visas to Macau.

The bank reiterated that it is optimistic about Bank Entertainment (0027.HK) and Sands (1928.HK) and is confident of their long-term growth. Based on the level of recovery that is faster than the industry's recovery level, MGM (2282.HK) is attractive based on valuation levels, all of the above”Outperform the industry” Ratings.

CICC's investment ratings and target prices for Haobang shares are shown in the table below: