旅游业投资旺盛，行业景气度高。随着我国人均GDP不断提高、居民消 费升级持续，旅游消费需求有望继续呈上升趋势，加之政府对旅游业的 支持，旅游业投资额将继续保持较快增长的势头，行业仍处于扩张阶段。 收入增长、城镇化推进、交通改善利好旅游业发展。预计我国人均可支 配收入、城镇化程度和交通便利度还有很大的提升空间，而这些因素和 全国出游人次具有很强的正相关性，预计我国旅游业将继续较快增长。 国内游散客化趋势明显，多元业态应运而生。在国内游客数持续快速增 长的情况下，我国旅游市场呈现出向散客化发展的趋势。而随着散客化 的发展，周边游、亲子游、自驾游等业态人气渐高。建议关注靠近周边 客源市场、交通便利且符合家庭亲子出游的旅游类上市公司。
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电影产业方面，上半月优质影片缺乏，下半月重归增长。爆款电影《加勒比海盗 5：死无对证》和黑马《摔跤吧！爸爸》是下半月票房逆转上涨的主要原因。根据 6 月片单情况，国产片仍以小成本制作为主，预计票房表现依旧较乏力，预计 6 月份电影市场票房主要由进口片带动。院线方面，2017 年 5 月全国院线票房冠军仍为万达院线。

每周随笔， 《王者荣耀》研究报告发布关注国内手游市场付费潜力提升。《王者荣耀》、《阴阳师》等头部产品景气度高，行业整体增长强劲。但目前，随着智能手机的广泛普及，我们认为用户红利已经逐渐接近尾声。未来每位用户付费能力的提升将是驱动手游行业增长的关键。

我们认为，今年游戏龙头企业业绩确定性强，稳健内生增速与市场风格契合。随着后续估值切换以及资金对于板块的聚焦效应，龙头公司有望在 17H2获得估值水平的提升。下周（6.19~6.25） 票房主力预计为《变形金刚 5：最后的骑士》，此电影系列前四部的内地票房高达 37 亿元。近期，第23 届上海电视节与第 20 届上海电影节分别在上海拉开帷幕。优酷、蓝港影业、完美世界等众多影视传媒公司于近期举办发布会，公布 2017 年片单。

上周中信餐饮旅游指数下跌 0.86%，分别跑赢上证综指、沪深 300 指数 0.25个百分点和 0.74 个百分点。中证体育指数上涨 1.31%，分别跑赢上证综指、沪深 300 指数 2.43 个百分点和 2.92 个百分点。旅游类标的涨幅前三是西安饮食（6.98%）、长白山（6.75%）以及九华旅游（6.02%）；体育类标的涨幅前三是三夫户外（10.11%）、平潭发展（9.09%）以及双象股份（6.61%）。

回顾传媒行业，截至 2017 年 05 月 31 日 A 股 27 个子行业涨跌幅中传媒从2016年11月跌幅倒数第一 24.6%收窄至跌幅倒数第五 13.5%。2016年政策对游戏、影视内容等借壳、跨行业并购的收紧，以及细分行业中部分公司前期外延并购标的业绩不及预期、商誉减值等导致2016 年全年传媒行业跌幅最大。

MMA as a sport has been slowly gaining popularity with increasing participation in fitness MMA, especially by women in developed countries like the US. In the US, the participation in fitness MMA is more from women while men engage more in MMA. Since fitness MMA helps burn 590-600 calories during a 45-minute session, more people, especially women, are taking up the sport. Increasing concern regarding head injury, due to the lack of mandatory regulations regarding the use of headgear for MMA players above the age of 18 years, is hindering the market growth to a certain extent.

Gaming simulators are considered the super-category of video games. The main purpose of these simulators is to simulate various aspects of the virtual world through real-world motions. This would require the optimal use of software and hardware platforms. The software platform ensures an accurate mapping between the gaming movement inside the virtual world and the gamer input in the real world. The hardware platform ensures a swift interface that can attract the crowd. The addition of motion detection in simulators is one of the biggest innovations, especially in the hardware segment. The feedback received from virtual world obstacles should accurately be converted into physical movements of the simulator. The quality of hardware will depend on the same.

Skating gained prominence as a means of recreation activity and a sport in The Fens in England. Today, there are a number of recreational sports that fall within the purview of games that can be played on ice. A few of these sports are ice hockey, curling, speed skating, figure skating, bandy, ringette, tour skating, ice cross downhill, and barrel jumping. This report covers ice skating equipment used for recreational purposes and for speed skating.

In the lottery, a winner is randomly selected by drawing of lots. Gambling requires skills and chances both; however, lottery requires chance alone. The probability of winning becomes higher if a person buys more than one lot. These lots are generally in the form of tickets, and the prizes associated with lottery are mostly, but not limited to, money, precious metals, trips, and real estate. The governments of many countries consider the lottery to be illegal unless a skill is required, whereas a few governments allow the lottery to promote fundraising for charitable organizations. As lottery is governed by local, state, and national laws, regulations differ in different countries, as well as states.