Soochow Securities: consumption of catering and other services continues to recover and options pick up somewhat.

[Soochow Securities: consumption of catering and other services continues to pick up] Soochow Securities pointed out that consumption recovered relatively steadily in May, consumption of catering and other services continued to recover, and options picked up somewhat. The focus of follow-up options is to boost performance in June. It is suggested to pay attention to: optional consumption areas such as ① jewelry with good recovery; parity consumption track with high ② scene; B2B and tax exemption of ③ industry, which have both long-term growth and post-epidemic restoration flexibility.