Ping An Securities: The entire industrial chain of ice and snow sports has good development opportunities

Ping An Securities research report states that the entire industrial chain of ice and snow sports has good development opportunities. Specifically, the production end of outdoor footwear and apparel for ice and snow sports, the brand end of ice and snow brands, and the terminal facilities of ice and snow venues are all showing a trend of rapid development. As discretionary consumption gradually recovers and the terminal consumption environment improves, it may help the recovery of the outdoor-related industrial chain of ice and snow sports. Based on the logic of discretionary consumption recovery, and with strong support from national policies for the ice and snow economy and sports, the ice and snow sports industry may welcome new development opportunities. It is recommended to allocate high-quality core assets in the outdoor track of ice and snow sports, especially blue-chip stocks that are reversing from bottom difficulties. It is recommended to prioritize blue-chip stocks with strong performance certainty and high dividend yields. Among them, it is suggested to focus on ice and snow sports brand companies with marginal improvements, as well as leading companies with stable dividend payout rates, such as ANTA SPORTS, BOSIDENG, and SANFO OUTDOOR