Industry Dynamics Tracking - The overall container shipping rates have decreased, with the SCFI composite index dropping by 9.7% to 1317 points. Specific routes such as Shanghai-Europe and Shanghai-Mediterranean saw declines of 11.1% and 12.0% respectively [3][4] - The refined oil tanker rates have increased, with the BCTI index rising by 4.6% to 890 points. The MR rates in the Pacific and Atlantic regions showed mixed results, with a notable increase of 12.7% in the Atlantic [8] - The logistics sector is witnessing a resilient demand, with the e-commerce express delivery industry expected to benefit from a recovery in the economy and a reduction in costs, leading to improved profitability for companies like SF Express and JD Logistics [12] Air Transport - The civil aviation sector is showing signs of recovery, with major airlines like China Southern and Hainan Airlines expected to turn profitable in 2025, while Eastern and Air China are projected to reduce their losses significantly [3] - The State Council has issued a plan to accelerate the cultivation of new growth points in service consumption, focusing on transportation services among others, which is expected to support the aviation sector [3] Shipping and Port Operations - The dry bulk shipping market is experiencing a "strong off-season" due to a combination of high demand in the Atlantic region and tight capacity, with the BDI index rising by 12.0% to 1949 points [8] - The geopolitical situation in the Middle East is tense, with the U.S. increasing military presence and Iran conducting live-fire exercises, which could impact oil shipping routes [6] - China's port cargo throughput has decreased, with a reported decline of 1.70% in total cargo and a 4.35% drop in container throughput [9] Road and Rail Transport - National logistics operations are running smoothly, with rail freight volumes reported at 7441.9 million tons, a decrease of 3.35% [10] - Shenzhen International reported a 3.3% increase in toll revenue for December 2025, indicating stable revenue growth in the road transport sector [11] Investment Opportunities - In the express delivery sector, companies like YTO Express and ZTO Express are expected to benefit from market share growth and operational improvements, while SF Express is noted for its cost control and shareholder returns [12] - The oil transportation market is anticipated to improve due to OPEC+ production increases and potential interest rate cuts, suggesting a favorable outlook for companies like China Merchants Energy and COSCO Shipping Energy [13] - The dry bulk shipping market is expected to continue its recovery, driven by environmental regulations and increased demand for commodities, with companies like China Merchants Energy and Haitong Development highlighted as potential beneficiaries [13]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 中國南方航空股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01055 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 2. 股份分類 | 普通股 | 股份類別 | A | | ...

Group 1 - The aviation and airport sector increased by 2.35% on February 3, with Southern Airlines leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Key stocks in the aviation sector showed varied performance, with Southern Airlines closing at 7.65, up 5.37%, and China Eastern Airlines at 5.71, up 4.20% [1] Group 2 - The aviation and airport sector experienced a net outflow of 43.44 million yuan from institutional investors, while retail investors saw a net outflow of 106 million yuan [3] - Notable inflows from speculative funds were recorded at 149 million yuan [3] - The stock performance of major companies included China Eastern Airlines with a net inflow of 69.47 million yuan from institutional investors [4] Group 3 - The Aerospace ETF (product code: 159227) tracked the National Aerospace Industry Index and saw a decline of 8.15% over the past five days, with a net subscription of 12.87 million yuan [6] - The General Aviation ETF (product code: 159230) tracked the National General Aviation Industry Index and experienced a decline of 9.25%, with a net subscription of 10.71 million yuan [7] - The Tourism ETF (product code: 562510) tracked the CSI Tourism Theme Index and saw a decline of 2.92%, with a net subscription of 8.91 million yuan [7]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國南方航空股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01055 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 2. 股 ...

当春运首趟列车出发的汽笛在广州白云站拉响，当国产大飞机的航迹首次划过珠海的天空……2月2日， 2026年春运热气腾腾地拉开序幕。 今年春运叠加春节9天超长假期，40天里，预计广东跨区域人员流动量约11.59亿人次。当"十五五"开局 之年的首个春运到来，日趋完善的交通网络、愈加温情的暖心服务、智慧高效的科技赋能，处处彰显着 大湾区流动的生机与温情。 更从容 春运首日的广州南站热热闹闹又忙中有序，书法家现场挥毫，为旅客免费书写春联、赠送福字，不少旅 客手捧着墨香四溢的春联笑意盈盈出发，候车大厅里洋溢着喜庆祥和的节日氛围。当天，车站到发旅客 53万人次，同比去年春运首日增长19%。 今年春运，客流量迎来增长，但旅客回家的路更从容了。 新线首秀—— 广湛高铁、汕汕高铁汕头至汕头南段首次亮相春运，成为广东铁路交通网络升级的重要突破口。 枢纽升级—— 广州站转型为高铁枢纽后，主要办理京广、贵广、南广方向跨线动车，春运期间安排开行列车196列， 同比增加74列，覆盖郑州、济南、西安、南昌等热门出行方向。 广州白云站今年春运首次全面承担普速临客运输任务，以"高铁+普速"双网协同模式，有效缓解了核心 枢纽的客流压力。 广州白云 ...

Core Insights - The article discusses the implementation of a dynamic assessment mechanism for aviation security instructors at China Southern Airlines' Xinjiang branch, aimed at enhancing the quality of aviation security training [1][4]. Group 1: Assessment Mechanism - The assessment includes a comprehensive evaluation of instructors through multiple dimensions to stimulate teaching vitality and improve training quality [1][4]. - The evaluation process consists of theoretical assessments, courseware production, live teaching demonstrations, and student feedback [5]. Group 2: Theoretical Assessment - The theoretical assessment focuses on key regulations such as the "Regulations on the Qualification Certification of Aviation Security Personnel" and the "Management Measures for Aviation Security Instructors," using closed-book written tests to evaluate instructors' grasp of industry standards [4]. Group 3: Courseware Production - Instructors are required to design courseware that aligns with aviation security business capabilities, adhering to the company's course management regulations, ensuring both compliance with industry standards and practical innovation [4]. Group 4: Live Teaching Demonstrations - During the live teaching assessment, instructors present an 8-minute teaching demonstration, evaluated on various aspects including professional image, content delivery, teaching methods, and classroom management [4]. Group 5: Student Feedback - Student evaluations are conducted through an app, assessing instructors on professional qualities, business capabilities, teaching quality, and classroom management, integrating feedback into the assessment system to enhance teaching methods and student satisfaction [5]. Group 6: Continuous Improvement - The assessment results will be used to continuously refine the dynamic assessment mechanism, promoting instructor capability upgrades and strengthening the talent foundation for aviation security [5].

Core Viewpoint - The Spring Festival travel rush officially began on February 2, 2026, with China Southern Airlines (CSA) operating over 220 flights in Xinjiang, transporting nearly 34,000 passengers on the first day of the travel period [1][4]. Group 1: Passenger Flow and Flight Operations - Due to the late Spring Festival, the travel demand for the winter vacation and family visits started early, with many travelers opting for a "travel first, celebrate later" approach [4]. - On the first day of the Spring Festival travel rush, CSA's outbound passenger flow in Xinjiang was concentrated, with high seat occupancy rates on popular routes such as Urumqi to Beijing, Shanghai, Chengdu, and Chongqing exceeding 85% [4]. - Routes from Kashgar to Guangzhou and Yining to Chengdu saw occupancy rates close to 90%, while flights from Urumqi to Sanya and Haikou also had occupancy rates near 85% [4]. - The international routes from Urumqi to Tbilisi, Bishkek, and Tashkent had occupancy rates above 83% [4]. Group 2: Customer Service Enhancements - CSA has increased the frequency of monitoring in the waiting area at Urumqi Tianshan International Airport, actively identifying group travelers and families to enhance processing efficiency [5]. - Special services have been implemented for vulnerable groups such as unaccompanied minors, wheelchair users, and elderly travelers, including personalized assistance throughout the travel process [5]. - Various travel service products have been launched to cater to diverse traveler needs, including "Family Travel" and "Ice and Snow Travel" products, as well as a "Family Express" service for priority boarding and increased baggage allowance [5]. Group 3: Future Outlook - As the Spring Festival approaches, the peak in air passenger flow is expected to gradually increase, and CSA is committed to ensuring safe and smooth travel for passengers, enhancing their overall experience during the festive season [6].

航空股今日回暖，截至发稿，东方航空(00670)涨4.81%，报5.66港元；南方航空（600029）(01055)涨 4.15%，报6.03港元；中国国航（601111）(00753)涨2.79%，报6.99港元；国泰航空(00293)涨1.48%，报 12.37港元。 招商证券发布研报称，25年四季度以来，受益行业票价同比改善、未来盈利修复预期强化以及市场整体 上涨影响，行业估值总体大幅上行，1月下旬以来受国际油价较快上涨影响板块有所回落，当前时点建 议关注春运行业量价表现、供需政策落地情况及中东局对油价影响。 消息面上，航旅纵横大数据显示：截至1月29日，2026年节前春运，国内航线机票预订量超1246万张， 比去年春运同期增长约8%；出境航线机票预订量超137万张，入境航线航线机票预订量超147万张，比 去年春运同期增长约5%。 ...

日前，南航、东航、国航、海航四大航司相继披露了2025年的业绩预告。南都N视频记者梳理公告获 悉，在民航业持续复苏的背景及公司各项成本管控举措下，南航、海航预计2025年将实现扭亏为盈，其 中海航盈利水平仍居四大航之首，且扭亏幅度最大。中国国航净亏损同比扩大，东航净亏损收窄，预计 利润总额将实现同比扭亏。 南航海航预计2025年扭亏为盈 南航预计，2025年度将实现扭亏为盈，实现归母净利润8亿元至10亿元，上年同期录得净亏损16.96亿 元，增长24亿元至26亿元。同期，实现归母扣除非经常性损益后的净利润1.3亿元到1.9亿元。南航因不 同于国航东航，未将货运物流板块拆分，因此货运业务的增长也为整体业绩的改善带来积极影响。 中国国航预计，2025年将实现归母净亏损约13亿元至19亿元，同比增亏至净亏损2.37亿元。同期，实现 归母扣除非经常性损益的净亏损约为19亿元到27亿元。国航称，亏损原因是，公司在资产负债表日对递 延所得税资产的账面价值进行复核，相应转回部分递延所得税资产。 海南航空预计，2025年将实现扭亏为盈，实现归母净利润18亿元至22亿元，上年同期录得净亏损9.21亿 元，增长27.21亿元至3 ...

为应对客流增长，东航今年春运在广东投入的座位数同比增加超过10万个，增幅达8.43%；执行航班约 8100班，同比增长约5.11%；预计运输旅客128万人次，同比增长8.21%。 根据目前广东各机场的客票销售情况来看，2026年春运返乡、探亲、学生、旅游等客流已形成叠加态 势，客票预订量近期迎来显著增长。 为应对旅客出行需求，东航在广州加密了往返西安、昆明、成都、兰州、太原、南京的航班；在深圳加 密了往返大理、太原、武汉航班，并新增深圳往返哈尔滨的直飞航班；在珠海加密了往返昆明、上海虹 桥的航班；在近年来火爆的潮汕市场，新增或加密往返上海、成都、南京、郑州、北京、宁波、昆明、 南昌、兰州等地的航班；在湛江加密往返南京、上海、武汉、南昌、成都的航班；在梅州新增往返上海 浦东的航班。 中新网广州2月3日电 (记者 郭军)2026年春运2日开启。记者从各大航空运输单位了解到，为服务广东地 区不断增长的旅客出行需求，各大航空公司纷纷增加运力投入，多措并举提升服务保障水平。 另一方面，今年春运的返乡、探亲客流也受到长假期的利好影响，特别是"先返乡探亲、后出门旅 游"的"二次出行"模式会更为普遍。东航预计节前节后将迎来一 ...