Hong Kong Stock Concept Tracking | Snow and ice tourism welcome policy catalyzes the transformation of “cold resources” into a “hot economy” at an accelerated pace (with concept stocks)

The Zhitong Finance App learned that on December 11, the “Three-Year Action Plan for the High-Quality Development of Ice and Snow Tourism in Liaoning Province (2025-2027)” was publicly solicited for comments. It proposed cultivating 10 ski tourist resorts above the provincial level and building more than 10 boutique ice and snow tourism routes. The driving effect of the comprehensive consumption of snow and ice tourism was significantly enhanced, and the influence of the ice and snow brand in Liaoning increased overall. By 2027, the annual number of visitors to snow and ice tourism in the province will exceed 260 million, and the annual comprehensive revenue will reach more than 250 billion yuan.

According to reports, the snow and ice economy has become an emerging force that cannot be ignored in China's economic development. From the successful hosting of the Beijing Winter Olympics to the deepening of the “South Exhibition and Westward Expansion” strategy for snow and ice sports, China's ice and snow industry is drawing a new chapter in high-quality development at an unprecedented speed and scale. With the arrival of the new snow season, snow and ice activities that have been planned for a long time are also being “released” one after another in various places.

On November 27, the Beijing-Tianjin-Hebei Cultural Tourism Collaborative Development and Cultural Tourism Consumption Promotion Campaign was held. Cultural tourism departments, related enterprises, financial institutions and OTA platforms of the three regions centrally released a number of cultural tourism consumption welfare measures. Combining various elements such as “food, lodging, travel, shopping and entertainment”, 5 boutique ice and snow tourism routes and 8 boutique inbound tourism routes were launched.

On November 22, the 2025-2026 new snow season in Jilin Province kicked off and the 31st Jilin Wusong Ice and Snow Festival opened. The Jilin Provincial Department of Culture and Tourism announced that 100 million yuan of ice and snow vouchers will be issued to tourists and local residents from inside and outside the province, which can be used in cultural tourism consumption scenarios such as ski tickets, hotel accommodations at scenic spots, and hot spring experiences.

Furthermore, many parts of the south are also promoting the snow and ice economy to continue to heat up by creating new venues and new scenarios. Shenzhen Qianhai Ice and Snow World was unveiled this year. It has 5 professional trails, covering various types of trails, and added 14 snow entertainment programs, including snow karting. At the same time, buses to and from Hong Kong have also been opened to make it easier for Hong Kong residents to go skiing. Currently, it has received over 700,000 visitors.

Recently, the “15th Five-Year Plan” planning proposals have been released one after another in various regions. The “15th Five-Year Plan” proposal of Heilongjiang Province proposes to accelerate the development of the ice and snow economy, promote the development of the entire ice and snow sports, ice and snow culture, ice and snow tourism industry chain; expand the ice and snow economy 100 billion industrial clusters; promote the construction of snow and ice sports stadiums and schools specializing in snow and ice sports; cultivate a team of high-level snow and ice sports talents; and develop mass snow and ice sports events. Enrich the supply of ice and snow cultural and creative products; develop a series of policy initiatives such as high-end ice and snow equipment and cold weather testing, cold weather clothing, and cold weather supplies.

In addition, a number of northern provinces have mentioned the ice and snow economy in the “15th Five-Year Plan” planning proposals. For example, Jilin Province proposed vigorously developing the ice and snow economy, speeding up the construction of the “Ice and Snow Silk Road” innovation pilot zone, continuously improving the quality of snow and ice tourism, and building a world-class snow and ice and snow tourism destination; the Inner Mongolia Autonomous Region proposed developing the snow and ice industry to expand the ice and snow economy; and Beijing proposed developing the snow and ice economy to amplify the effects of new types of consumption.

According to the “China Ice and Snow Industry Development Research Report (2025)”, the scale of China's ice and snow industry increased from 270 billion yuan in 2015 to 980 billion yuan in 2024. It is expected to break the trillion yuan mark and reach 1005.3 billion yuan in 2025. Looking at ice and snow consumption trends, during the 2024-2025 ice and snow season, residents participated in snow and ice sports and drove spending more than 187.5 billion yuan, an increase of more than 25% over the previous year; the amount spent on ski resorts nationwide reached 78.613 billion yuan, and the amount spent two kilometers around the ski resort increased by 27.97%.

Ping An Securities believes that in recent years, with the popularity of snow and ice sports and the development of snow and ice tourism, the snow and ice economy has gradually become a new economic growth point. The snow and ice economy covers a comprehensive economic system covering snow and ice sports, snow and ice tourism, snow and ice equipment, snow and ice culture, etc. It has the characteristics of a long industrial chain, great diversion effect, and high social benefits, and has become an important force in promoting regional economic and social development and the integrated development of urban and rural areas. With the gradual spread of snow and ice sports in China, the popularity of snow and ice tourism continues to heat up, “cold resources” are being transformed at an accelerated pace into a “hot economy”, and the scale of the snow and ice industry is growing rapidly. It is recommended to focus on snow and ice sports brand companies with marginal improvements, as well as leading companies with steady dividend payout rates. The main focus is on targets: Anta Sports, Bosideng, Sanfu Outdoor.

Related concept stocks:

Anta Sports (02020): Recently, Anta released the Kaishan Snow Suit V3 equipped with “Thermal Current 3rd Generation” technology, which will be promoted to a large number of outdoor skiers and even the mass market this winter.

Bosideng (03998): Since the first launch of the “Xuelong” in 1999, Bosideng has continued to assist China in many Antarctic and Arctic expeditions and the ascent of Mount Everest, protecting the survey members with world-leading thermal technology and functional materials. Polar extreme cold down jackets pioneered dynamic cold weather technology breaking through the extreme low temperature of -50℃, becoming a landmark innovation in the field of scientific research equipment. Furthermore, Bosideng cooperated with Harbin to launch the “Erbin x Bosideng” joint series, pioneering a new model of cooperation between cities and brands, deeply integrating the ice and snow economy with Guochao culture, and becoming an innovative practice for coordinated regional development.

Fosun Tourism Culture (01992): The company's Club Med Taicang Alps International Ski Resort includes six themed experience areas: Alps Ski Resort, Alps Ice and Snow Park, ClubMed Mediterranean Day Ark Taicang Resort, Alps Time Scene, Alps Camp, and Alps Light and Shadow World. According to Xu Bingxuan, Co-President of Fosun Travel and Culture and Global Deputy CEO of Club Med Club Med, the Beidahu Resort's “all-inclusive” model covers ski courses, accommodations, meals, and a variety of activities, providing families with highly reliable and cost-effective spending choices for snow and ice travelers.