Market Overview - The logistics sector increased by 0.68% on January 29, with Tian Shun Co. leading the gains [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] Top Gainers in Logistics Sector - Tian Shun Co. (002800) closed at 16.68, up 3.86% with a trading volume of 90,800 shares and a turnover of 150 million yuan [1] - Jianfa Co. (600153) closed at 9.65, up 3.21% with a trading volume of 482,500 shares [1] - Hengji Daxin (002492) closed at 9.13, up 2.82% with a trading volume of 263,100 shares and a turnover of 240 million yuan [1] - Milkway (603713) closed at 63.79, up 2.62% with a trading volume of 36,000 shares and a turnover of 230 million yuan [1] - Jia You International (603871) closed at 13.81, up 2.07% with a trading volume of 99,600 shares [1] Top Losers in Logistics Sector - Changjiang Investment (600119) closed at 7.25, down 9.94% with a trading volume of 37,800 shares and a turnover of 27.42 million yuan [2] - ST Yuanshang (603813) closed at 39.90, down 3.69% with a trading volume of 6,332 shares and a turnover of 25.57 million yuan [2] - Pu Lu Tong (002769) closed at 11.57, down 3.26% with a trading volume of 158,100 shares [2] Capital Flow Analysis - The logistics sector experienced a net outflow of 27.94 million yuan from institutional investors and a net outflow of 199 million yuan from retail investors, while retail investors saw a net inflow of 227 million yuan [2] - Notable net inflows from retail investors were observed in several companies, including SF Holding (002352) with a net inflow of 16.21 million yuan [3] - China Foreign Transport (601598) had a significant net inflow of 39.42 million yuan from institutional investors, representing 20.76% of its trading volume [3]

Core Viewpoint - Shentong Express has reported a significant increase in express delivery volume, exceeding last year's daily average by over 20%, indicating a strong demand for the upcoming Chinese New Year shopping season, comparable in scale to "Double 11" [1] Group 1: Delivery Volume and Market Trends - The express delivery volume during this year's Chinese New Year shopping season is expected to be high and prolonged, significantly longer than traditional e-commerce promotions [1] - Big data forecasts suggest that the overall scale of this year's delivery volume will be comparable to major shopping events like "Double 11" [1] Group 2: Operational Adjustments - In response to the anticipated peak in delivery volume, Shentong has activated a peak operation mode across its 76 direct transfer centers nationwide [1] - The company is utilizing its self-developed intelligent system to adjust capacity in real-time, ensuring stability in delivery timelines despite extreme weather and fluctuations in volume [1] Group 3: Product Offerings - Shentong's quality network, Dan Niao, has launched a "Flash Purchase 4-hour delivery" service in 16 key cities to enhance its product matrix [1]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：证券之星 近日，申通快递（002468.SZ）实控人陈小英被前夫奚春阳追讨2028.42万股股份一事，引发外界广泛关 注。按当时股价测算，所涉股份对应市值约2.8亿元。 01． 离婚十三年后掀起股权纠纷 据申通快递此前公告显示，公司于近日收到玉环市人民法院送达的《民事起诉状》《应诉通知书》等有 关诉讼材料，自然人奚春阳以股东资格确认纠纷为由对公司及实控人之一陈小英提起民事诉讼。 证券之星注意到，此次诉讼不仅涉及双方离婚时的财产分割约定，也将公司早期创业往事再次推至公众 视野。尤其是在离婚已过去13年之后，奚春阳选择在此时提起诉讼，其背后的动机亦成为外界关注的焦 点。掉队多年后，申通快递业绩虽有所回暖，但现金流下滑、毛利率承压等挑战尚存。同时，公司在合 规经营方面也面临考验，旗下分支机构被开出了多张罚单。 奚春阳在诉讼中提出以下请求：判令陈小英名下的2028.42万股股份归其所有；同时要求申通快递及陈 小英就该部分股票向中登公司办理非交易过户手续；由公司与陈小英共同承担本案案件受理费。 若按照公告当日市值计算，此次诉讼所涉2028. ...

以下文章来源于雷达Finance ，作者X编辑 雷达Finance . 遨游广袤的财富世界。 "快递女王"被前夫告上法庭，索要2.8亿元股权。 来源：雷达财经 文：丁禹 编：孟帅 2026年开年第一个月，被外界誉为"快递女王"的陈小英和她创办的申通快递，一同被前夫奚 春阳告上了法庭。 除了陈小英前夫的身份外，奚春阳还是申通快递的前副总经理。据悉，奚春阳与陈小英在 2012年结婚，又在同年离婚。 而此番奚春阳提起诉讼，源于双方之间的离婚财产分割涉及的股东资格确权纠纷，其诉求为判 令陈小英名下约2028万股申通股份归其所有。 截至公告发布日（1月21日）收盘，申通股价为13.78元/股，据此计算这部分股权对应市值约 2.8亿元。 天眼查显示，目前申通快递由陈小英哥哥陈德军担任董事长。在陈德军的带领下，申通快递近 年来的业绩保持稳步增长。 去年前三季度，申通快递营收同比增长15.17%至385.7亿元，归母净利润增长15.81%至 7.56亿元。不过，公司也面临资产负债率较高、短期偿债能力偏弱等隐忧。 值得一提的是，在去年10月公布的《2025胡润百富榜》中，陈德军、陈小英分别以115亿 元、60亿元的身家登榜，财 ...

文丨金融八卦女特约作者：身披铠甲的方方 · · · 2026年初的快递圈，还没盼来行业回暖的好消息，倒先爆了个创始人夫妻恩怨大瓜。 1月22日，申通快递突发公告，把很多人都快忘了的陈小英，又拎回公众视野。原因很简单——她那位 离婚13年的前夫奚春阳，突然现身，说要分她名下申通的股份。 两人2012年就各走各路了，陈小英2019年已经高位卖股、基本退出快递江湖。该翻篇的早翻了，偏偏现 在又翻出来。这一纸诉状背后，显然不只是旧情，还有一堆"老账"没说完。 ▲诉讼基 本情况 来源：申通快递官网 陈小英名下4056.85万股，一人一半，2028.4万股，按当天股价一算，差不多2.8个亿。网友当场破 防："原来有钱人的离婚，真的是可以晚十几年再结算的。" 更让人看不懂的是时机。两人2012年就各走各路了，陈小英2019年已经高位卖股、基本退出快递江湖。 该翻篇的早翻了，偏偏现在又翻出来。是当年没算清，还是现在这个点，终于等到了？这一纸诉状背 后，显然不只是旧情，还有一堆"老账"没说完。 如果只看表面，这是一桩并不新鲜的离婚后财产纠纷，但问题恰恰出在"时间点"上。 而奚春阳的诉求也相当明确——他认为，登记在陈小英名下的4 ...

Core Viewpoint - The performance landscape of China's major express delivery companies is becoming clearer as they report their 2025 operational data, indicating a shift towards high-quality development in the industry, with significant growth in business volume and revenue [1][6]. Group 1: Performance of Major Companies - SF Holding achieved a milestone in 2025 with annual revenue surpassing 300 billion yuan, driven by logistics and international business growth, despite a slight decline in per-package revenue [2][6]. - YTO Express maintained its leading position within the Tongda system, reporting 683.18 billion yuan in revenue and 311.44 billion packages delivered, with a focus on cost control and international expansion [3][6]. - Shentong Express emerged as a significant player in 2025, with a 28.23% year-on-year increase in revenue to 58.36 billion yuan, benefiting from the consolidation of Daniao Logistics [3][6]. - Yunda Express experienced a decline in package volume but managed to increase per-package revenue, indicating a strategic shift towards rational development and profitability [4][6]. Group 2: Industry Trends and Developments - The express delivery industry is transitioning from low-price competition to high-quality development, with companies prioritizing profitability over volume [6][8]. - Technological advancements and green transformation are becoming key drivers of industry growth, with increased investment in smart logistics and sustainable practices [7][8]. - Internationalization and collaborative development are emerging as strategic priorities for leading companies, enhancing their global service networks and competitiveness [7][8]. Group 3: Future Outlook - The ongoing optimization of industry structure is expected to enhance the resource integration capabilities and brand advantages of leading companies, while compressing the survival space for smaller firms [8]. - Competition surrounding service upgrades, technological innovation, and international expansion is anticipated to intensify, positioning the Chinese express delivery industry for robust resilience and growth potential in the global logistics market [8].

每次上市公司实控人的"离婚账本"一摊开，总能牵动投资者的神经。 从统计结果来看，在上述12家公司里，10家股价从公告日到2025年最后一个交易日实现上涨，占比 83.33%。其中，悦安新材股价涨幅最多，累计涨幅达到37.21%；金圆股份（000546）、威士顿 （301315）等公司的股价涨幅也超过20%，实控人的前任们属于"躺赚"，只有善水科技（301190）、金 丹科技（300829）两家公司股价出现下跌，最大跌幅为13%。 全文请见：2025年A股上市公司实控人离婚"分手费"全景，近60亿元财富被分割！ 近日，申通快递（002468）实控人之一陈小英在离婚14年后，被前夫起诉索要公司2028.4万股。按公告 当日(1月21日)公司的收盘价13.78元/股计算，这部分股权对应的市值约为2.8亿元。 事实上，这样的"离婚分割股权大戏"并不少见。《每日经济新闻》记者统计发现，2025年全年共有12家 上市公司因实控人离婚卷入股权分割，股权分割的总市值从公告当日的57.83亿元涨到年底的63.21亿 元，并且没有实控人及前任实施减持。 投资者普遍关心的焦点是，上市公司实控人在离婚分割股权后，公司股价会否因配偶减 ...

Investment Rating - The report maintains an "Overweight" rating for the aviation and oil shipping sectors [4]. Core Insights - The aviation sector is expected to see record passenger flow during the Spring Festival, with a projected increase of approximately 5.3% year-on-year, reaching 9.5 billion trips in 2026. The report anticipates strong demand during the Spring Festival, with limited additional flights due to strict management by airlines [4]. - In the oil shipping sector, high oil freight rates are expected to persist, with a significant year-on-year increase in tanker profits anticipated for Q1 2026. The report highlights a bullish long-term outlook for oil shipping driven by global oil production growth and an aging fleet [4]. - The express delivery sector is projected to experience a growth rate of 14% in 2025, with a notable recovery in profitability driven by effective measures against excessive competition [4]. Summary by Relevant Sections Aviation - The report forecasts a record high in passenger flow during the Spring Festival, with a year-on-year growth of 5.3% in civil aviation passenger transport [4][5]. - The pre-sale trends for airline tickets are positive, and the overall flight capacity increase during the Spring Festival is expected to be limited, benefiting airline revenue management [4]. - The report suggests a strategic investment in the aviation sector, highlighting companies such as Air China, China Eastern Airlines, and Spring Airlines as potential beneficiaries [4]. Oil Shipping - Oil freight rates are expected to remain high, with a significant increase in tanker profits projected for Q1 2026 due to rising oil production from the Middle East and South America [4]. - The report emphasizes the long-term bullish logic for oil shipping, driven by increased demand and a tightening supply due to an aging fleet [4]. - Recommended companies in the oil shipping sector include COSCO Shipping Energy Transportation and China Merchants Energy Shipping [4]. Express Delivery - The express delivery sector is expected to see a growth rate of 14% in 2025, with a decline in growth rate towards the end of the year [4]. - The report notes that measures against excessive competition have led to a recovery in profitability for leading companies in the sector [4]. - Companies such as SF Express and ZTO Express are highlighted as key players to watch in this sector [4].

中国经营报 . 《中国经营报》由《中国经营报》社有限公司出版，与中国企业同步成长，对话商业领袖，传播商业理想，服务商业人群，掌控中国商界绝对话语权。 来源|中国经营报 作者|杨让晨 张家振 1月22日，申通快递（002468.SZ）公告称，公司于近日收到玉环市人民法院送达的《民事起诉状》《应诉通知书》【（2026）浙1083民初243 号】等有关诉讼材料，自然人奚春阳以股东资格确认纠纷为由对申通快递、实际控制人之一陈小英提起民事诉讼。 以下文章来源于中国经营报 ，作者杨让晨 张家振 申通快递公告 《中国经营报》记者注意到，奚春阳认为，根据双方离婚时对财产分割的约定，申通快递与陈小英均应就4056.85万股股份的50%，即约2028.42万 股归属于自己，并向中国证券登记结算有限责任公司申请办理非交易过户至其名下的手续。 据了解，奚春阳与陈小英已于2012年解除婚姻关系，本次诉讼事项是奚春阳与陈小英之间的离婚财产分割涉及的股东资格确权纠纷。 申通快递方面在公告中表示，此诉讼不会对正常生产经营造成重大不利影响，不会对内部治理和规范运作产生重大不利影响，也不会对实际控制权产 生影响。就此，记者1月23日联系申通快递 ...

Investment Rating - The report maintains a "Buy" rating for major airlines including China Southern Airlines, China Eastern Airlines, Spring Airlines, and others, while recommending "Hold" for YTO Express and Shentong Express [2]. Core Insights - The report highlights a positive outlook for the aviation sector driven by multiple factors, including the upcoming Spring Festival travel peak, the appreciation of the RMB easing cost pressures, and the increase in visa-free countries for Chinese citizens, which is expected to boost international travel demand [4][7]. - The anticipated passenger transport volume during the 2026 Spring Festival is projected to reach a historical high of 95 million, with a daily average of 2.38 million passengers, reflecting a year-on-year growth of approximately 5.3% [4]. - The report emphasizes the cyclical recovery of the civil aviation market, with expectations of rising passenger load factors and ticket prices, driven by a gradual recovery in demand and limited capacity growth [4][7]. Summary by Sections Aviation and Airports - Daily flight operations from January 19 to January 23 showed slight fluctuations, with Eastern Airlines and Southern Airlines operating 2,245.80 and 2,221.80 flights respectively, while year-on-year comparisons indicate a decrease in operations [4]. - The average aircraft utilization rates during the same period were reported, with Spring Airlines achieving the highest at 9.20 hours per day, although all airlines showed a decline compared to the previous year [4]. - The report suggests that the upcoming Spring Festival will significantly enhance market demand, particularly from student travelers, as the holiday season approaches [4][7]. Logistics and Express Delivery - The report notes a divergence in the growth rates of express delivery companies, with a total of approximately 4.073 billion packages collected from January 12 to January 18, reflecting a year-on-year decline of 11.82% [7]. - It highlights the ongoing high-quality development of the express delivery industry, with policies aimed at reducing competition ("anti-involution") expected to improve profitability [7]. - The report recommends focusing on express companies with significant profit elasticity, such as Shentong Express and YTO Express, as well as those with strong growth potential in overseas markets like Jitu Express [7]. Infrastructure - The report tracks various transportation metrics, including highway and railway freight volumes, indicating a mixed performance across sectors [7]. - It suggests that the low-interest-rate environment will continue to support investment in infrastructure, with a focus on high-quality assets [7]. - Specific recommendations include investing in highway companies like Shandong Highway and Anhui Expressway, as well as railway companies like Daqin Railway and Beijing-Shanghai High-Speed Railway [7]. Shipping and Trade - The report indicates a mixed performance in shipping rates, with the SCFI index showing a decline of 7.39% week-on-week and a year-on-year drop of 28.73% [7]. - It emphasizes the potential for investment opportunities in oil and bulk shipping due to geopolitical factors and structural demand growth [7]. - Recommendations include focusing on companies like COSCO Shipping Energy and COSCO Shipping Holdings for oil shipping investments, as well as Hai Tong Development for bulk shipping [7].