Group 1 - Intercontinental Oil and Gas focuses on oil exploration and development, with significant operations in Kazakhstan and the Malacca Strait, benefiting from the Hainan Free Trade Port's zero-tariff policy which will reduce equipment import costs and enhance cross-border energy trade efficiency, with a projected 30% increase in trade scale over the next three years [1][34] - Jinpan Technology, a leading manufacturer of high-end power distribution equipment, will benefit from reduced raw material costs and a 15% corporate income tax reduction, enhancing profitability and enabling expansion into the ASEAN power equipment market [2][35] - Hainan Airlines, a major player in the aviation sector, expects a significant increase in passenger traffic due to the visa-free policy for 86 countries and duty-free upgrades, with projected passenger volume exceeding 80 million by 2026 [3][36] Group 2 - Junda Co., a top photovoltaic cell manufacturer, anticipates growth in its solar business due to reduced equipment costs and tax incentives, with plans to participate in Hainan's integrated wind and solar storage projects [4][37] - Caesar Travel, a comprehensive tourism service provider, expects a doubling of cross-border tourism business and a significant increase in tourist arrivals, with projections of 180 million visitors by 2026 [5][38] - Xinda A, a diversified company focusing on motorcycle manufacturing and coal mining, aims to leverage the zero-tariff policy to enhance profitability and expand into the electric vehicle market [6][39] Group 3 - ST Huluwawa, a leading pediatric pharmaceutical company, will benefit from reduced raw material costs and tax incentives, with plans to expand into the ASEAN pharmaceutical market [8][40] - Hainan Ruize, a construction industry leader, anticipates a surge in infrastructure demand with projected investments exceeding 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [9][42] - Hainan Airport, a key player in airport operations, expects a doubling of cargo business and significant passenger growth due to the visa-free policy and duty-free upgrades [10][43] Group 4 - Hainan Development, an investment platform, anticipates a substantial increase in duty-free sales, projected to exceed 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [11][45] - Hainan Highway, a major highway operator, expects a significant increase in traffic volume, projected to exceed 200 million vehicles by 2026, benefiting from the integration of tourism and real estate [20][56] - Hainan Rubber, the world's largest natural rubber producer, aims to expand its market presence in ASEAN due to favorable trade policies and tax incentives [21][57]

随着出境游市场持续复苏，连接中国与欧洲的"空中丝路"正不断增加，为游客带来更多便利。近期，中国 东方航空宣布4月20日起，将开通西安至奥地利维也纳的全新国际直飞航线，东航运营的欧洲航线总数也 随之达到27条。 "西安-维也纳"航线采用A330机型执飞，每周一、周四、周六执飞，并计划于北京时间01:30从西安咸阳国 际机场起飞 ，当地时间凌晨6:10抵达维也纳国际机场。目前，"西安-维也纳"航线机票已全面开放销售，官 方渠道显示，通过东航APP购买4月20日、23日、25日往返航班机票的东航会员，更可享积分翻倍礼遇。 与此同时，海南航空计划于2026年4月4日起，恢复运营深圳至西班牙马德里的直飞航线。海航计划每周运 营一班，由每周六执飞，使用波音787-9机型客机，现已开放售票。马德里作为西班牙首都以及最大都市， 是西班牙中央经济区的经济中心，同时也是南欧地区的文旅中心。"深圳-马德里"航线的复航，将重新构建 华南地区与西班牙之间的空中直连，极大便利国内外游客的多元出行需求。 采写：南都N视频记者 李行 实习生 许译匀 ...

Group 1 - The aviation and airport sector experienced a significant increase of 5.9% on February 4, with Huaxia Airlines leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] - Key stocks in the aviation sector showed notable price increases, with Huaxia Airlines rising by 10.02% to a closing price of 11.53, and China Eastern Airlines increasing by 9.98% to 6.28 [1] Group 2 - The net inflow of main funds in the aviation and airport sector was 796 million yuan, while retail funds saw a net outflow of 396 million yuan [1] - Major stocks like Hainan Airlines and China Eastern Airlines had varying levels of net fund inflow and outflow, with Hainan Airlines seeing a net inflow of 336 million yuan from main funds [2] - Retail investors showed a negative trend, with significant outflows from stocks such as China Eastern Airlines and China Southern Airlines, indicating a cautious sentiment among smaller investors [2]

Core Viewpoint - The A-share aviation sector experienced a significant surge, with major airlines like China Eastern Airlines and Huaxia Airlines hitting the daily limit, while Southern Airlines and Air China saw increases exceeding 6% [2][7]. Group 1: Market Performance - On February 4, 2026, the A-share aviation sector collectively rose, with Huaxia Airlines and China Eastern Airlines reaching the daily limit [2]. - Southern Airlines and Air China recorded gains of over 6% [2]. - The Shanghai Composite Index remained stable at 4067.67, while the ChiNext Index fell by 1.74% [3]. Group 2: Spring Festival Travel - The 2026 Spring Festival travel period began on February 2, with expectations of record-breaking passenger volumes [5]. - On the first day of the Spring Festival travel, civil aviation passenger volume reached 2.19 million, a 5.3% increase compared to the same period in 2025 [5]. - The average domestic economy class ticket price on the first day was 807 yuan, reflecting a 9.3% year-on-year increase, although it was a slight decrease of 1.5% compared to 2019 [5][6]. Group 3: Airline Strategies and Financial Performance - China Eastern Airlines has seen substantial stock price increases, with A-shares and H-shares rising by 50% and 105.79% respectively over the past year, making it the top performer among eight listed airlines in Shanghai and Hong Kong [7]. - The airline's "Three Flying Strategy" has contributed to its success, with the opening of 24 new international routes in 2025 [7]. - Huaxia Airlines is projected to report a net profit of 500 to 700 million yuan for 2025, marking an increase of 86.59% to 161.22% year-on-year [7]. - Southern Airlines is expected to turn a profit with a projected net profit of 800 to 1 billion yuan, while China Eastern and Air China anticipate significant reductions in losses due to tax adjustments [7].

2026.02. 04 本文字数：947，阅读时长大约1分钟 作者 | 第一财经 陈姗姗 2月4日，A股航空板块集体大涨。截至中午收盘，华夏航空和中国东航涨停，南方航空和中国国航涨幅也超过6%。 | 中国国航 | | | 8.94 | | 6.05% | | --- | --- | --- | --- | --- | --- | | 沪 601111 | | | | | | | 美元兑人民币(CFETS) | | | 6.9375 | | 0.02% | | FX USDCNY | | | | | | | NYMEX WTI原油 | | | 63.81 | | 0.95% | | 期 CL | | | | | | | 上证指数 | | | 4067.67 | | 0.00% | | 沪 000001 | | | | | | | 创业板指 | | | 3266.99 | | -1.74% | | 深 399006 | | | | | | | 海航控股 | | | 1.74 | | 4.19% | | 沪 600221 | | | | | | | 南方航空 | | | 8.25 | | 7.84% | | 沪 6 ...

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]

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]

2月3日，滴滴正式宣布与海南航空围绕双方的会员体系建设开展深度合作，双方会员完成相应挑战任务 后即可解锁权益。即日起至6月30日，滴滴用户完成 "海航金卡挑战"即可获得金鹏俱乐部相应的贵宾会 籍等级，享受贵宾休息室、公务舱值机柜台、优先登机等多项会员礼遇。此外，滴滴还推出了打车往返 机场可领海航金鹏俱乐部消费积分的活动，积分可兑换机票、舱位升级及实物礼品等。 ...

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 ...

Core Insights - The collaboration between Hainan Airlines and Didi Chuxing aims to enhance the travel experience by integrating air and ground transportation services, marking a significant innovation in the industry [1][3][4] Group 1: Membership Program - The "Heaven and Earth Integration, Enjoy Together" membership upgrade plan will provide dual membership benefits, enhancing the travel experience for frequent travelers [1][3] - Hainan Airlines' Golden Phoenix Club members can receive 90-day Didi membership cards (V5, V6, V7) through the Hainan Airlines app or the club's website, offering various ride-hailing benefits [3][4] - Didi members (V7, V8) can participate in a challenge to quickly obtain Hainan Airlines' VIP membership, which includes access to premium services such as lounges and priority boarding [4][6] Group 2: Points and Rewards - Didi members who use the service to and from airports in mainland China can earn Golden Phoenix Club points, which can be redeemed for rewards such as flight tickets and upgrades [6][9] - A flash event allows Didi members to participate in a points lottery, with a chance to win up to 15,000 Golden Phoenix Club points, equivalent to a flight ticket [6][9] Group 3: Strategic Alignment - This partnership aligns with China's "14th Five-Year Plan" to strengthen domestic circulation and reflects a proactive response to national strategies [3][4] - The collaboration is seen as a significant step towards integrating air and ground transportation services, enhancing customer satisfaction and travel efficiency [4][9]