Group 1 - China Eastern Airlines has resumed its flight route from Shanghai Pudong International Airport to Delhi, India, with a passenger load factor exceeding 95% on its inaugural flight, carrying 248 passengers [1] - This marks the first resumption of direct flights between China and India in five years, with China Eastern becoming the first Chinese airline to restore passenger flights between the two countries by 2025 [1] - The route will operate three times a week on Wednesdays, Saturdays, and Sundays, indicating a significant step towards revitalizing air travel between China and India [1] Group 2 - The resumption of direct flights is seen as a positive development for improving Sino-Indian relations, although the future trajectory of these relations remains uncertain [2] - Continuous interaction and mutual understanding are essential for achieving lasting trust and resolving differences between the two nations [2]

Major Events - Bluestar Jiahe Services (02606.HK) plans to repurchase up to 10% of its issued H-shares [1] - China People's Insurance Group (01339.HK) reported original premium income of 97.985 billion yuan in January, a year-on-year increase of 6.67% [1] - Hengteng Network (00136.HK) signed a strategic cooperation agreement with Evergrande Tourism Group [1] Financial Data - New Star Printing (01975.HK) achieved a net profit of 27.5 million HKD in the interim period, with an interim dividend of 1.5 HKD cents [1] Earnings Forecast - Qihua Environmental Protection (00976.HK) expects an increase in annual net loss [1] - Zhuyou Intelligent Manufacturing Technology (00726.HK) anticipates a net profit increase of approximately 40.8% for the year [1] - Birmingham Sports (02309.HK) raised its earnings forecast, expecting a mid-term profit of 70 million HKD [1] - Huazhang Technology (01673.HK) expects a mid-term profit of 15 to 20 million yuan, turning from loss to profit year-on-year [1] - Raffles Interior (01376.HK) anticipates a net loss of 4.5 million Singapore dollars for the 2020 fiscal year [1] - Fengcheng Holdings (08216.HK) expects a net profit increase of over 50% for the year [1] - New Fengtai Group (01771.HK) forecasts a net profit growth of approximately 20% for the year [1] - Yefeng Group (01695.HK) expects an annual loss not exceeding 4 million Malaysian ringgit [1] Operational Data - China People's Insurance Group (01339.HK) reported original premium income of 97.985 billion yuan in January, a year-on-year increase of 6.67% [1] - New China Life Insurance (01336.HK) reported original premium income of 34.63 billion yuan in January, a year-on-year increase of 12.78% [1] - China Property & Casualty Insurance (02328.HK) reported original insurance premium income of 53.112 billion yuan in January, a year-on-year increase of 1.2% [1] - China Metallurgical Group (01618.HK) signed new contracts worth 103.59 billion yuan in January, a year-on-year increase of 129.7% [1] - China Eastern Airlines (00670.HK) reported a 60.59% year-on-year decline in passenger turnover in January [1] - Sinopec Oilfield Services (01033.HK) recently signed overseas contracts worth 2.323 billion yuan [1] - China Southern Airlines (01055.HK) reported a 59.16% year-on-year decline in passenger turnover in January [1] - Huili Group (00806.HK) reported total managed assets of approximately 14.8 billion USD at the end of January [1]

Core Points - China Eastern Airlines has resumed its flight route from Shanghai Pudong International Airport to Delhi, marking the first Chinese airline to restore passenger flights between China and India since 2025, after a five-year hiatus [1] - The inaugural flight carried 248 passengers with a seat occupancy rate exceeding 95%, operating three times a week on Wednesdays, Saturdays, and Sundays [1] - The restoration of direct flights is seen as a significant step in enhancing economic and diplomatic relations between China and India, benefiting travelers by eliminating the need for multiple transfers [1] - Indian airline Indigo has also resumed direct flights, with plans to operate daily flights from Kolkata to Guangzhou and from Delhi to Guangzhou starting November 10 [1] Industry Insights - The resumption of direct flights between China and India has garnered significant international media attention, indicating a revitalization of air connectivity between the two nations [1] - Analysts suggest that while the restoration of direct flights injects positive momentum into Sino-Indian relations, the future trajectory of these relations remains uncertain and requires ongoing interaction and mutual understanding to resolve differences [2]

Group 1 - The eighth China International Import Expo has seen significant procurement amounts from Chinese companies, with Shanghai Zhenhua Heavy Industries Group signing contracts worth 2.8 billion RMB, setting a historical record [1] - China National Cereals, Oils and Foodstuffs Corporation (COFCO) has signed contracts exceeding 10 billion RMB for high-quality agricultural products and specialty foods during the expo [1] - China Southern Airlines Group's transaction amount exceeded 2 billion USD, marking a six-year high, while China Eastern Airlines signed 19 procurement agreements totaling 1.211 billion USD [1] Group 2 - China Coal Energy Group's subsidiary, China Coal Pingshuo Group, signed a procurement framework agreement with Michelin for giant tires, aiming to promote green and low-carbon development in the mining sector [2] - Nanjing Hongzhao Company has deepened cooperation with German exhibitor Heraeus, focusing on the integration of optoelectronic innovation technologies and high-quality development in industries such as optical fiber, AI, and big data [2]

Core Viewpoint - Eastern Airlines has officially resumed the "China-India route" after five years, marking a significant step in enhancing connectivity between the two countries [1] Group 1: Route Details - The resumed route is from Shanghai Pudong International Airport to Delhi, operated by an Airbus A330 wide-body aircraft, with three flights per week on Wednesdays, Saturdays, and Sundays [1] - The inaugural flight had a passenger load factor exceeding 95%, indicating strong demand for the route [1] Group 2: Strategic Importance - The Shanghai-Delhi route is considered one of the most strategically significant air corridors between China and India, facilitating comprehensive exchanges in trade and culture between the two major economic centers [1] - Eastern Airlines plans to adjust flight frequency based on market feedback and aims to restore the Kunming to Kolkata route and introduce a new route from Shanghai Pudong to Mumbai, further enhancing the air route network between China and India [1] Group 3: Connectivity and Services - Passengers arriving in China can easily connect to domestic flights to major cities and international routes to destinations in North America, Japan, and South Korea, leveraging Eastern Airlines' network and convenient transfer services at Pudong Airport [1]

Core Viewpoint - Eastern Airlines has officially resumed the "China-India route" after a five-year hiatus, marking a significant development in air travel between the two countries, with the first flight achieving a seat occupancy rate exceeding 95% [1][3]. Group 1: Route Details - The resumed route operates from Shanghai Pudong International Airport to Delhi, utilizing Airbus A330 wide-body aircraft, with three flights scheduled weekly [3]. - This route is considered one of the most strategically significant air passages between China and India, facilitating closer economic and cultural exchanges between Shanghai and Delhi [3]. Group 2: Future Plans - Eastern Airlines plans to adjust flight frequencies based on market feedback and aims to restore the Kunming to Kolkata route, as well as introduce a new route from Shanghai Pudong to Mumbai, enhancing the air route network between China and India [3]. - The airline's network at Pudong Airport allows passengers to easily connect to major cities in China and international destinations in North America, Japan, and South Korea [5]. Group 3: Connectivity - Delhi's Indira Gandhi International Airport serves as a major aviation hub in India, providing strong connectivity for travelers to various Indian cities and facilitating access to South Asia, the Middle East, and parts of Europe and Africa [5].

Core Points - Eastern Airlines has resumed its first passenger flight on the China-India route after five years, marking a significant milestone in the aviation industry [1] - The inaugural flight from Shanghai Pudong International Airport to Delhi had a seat occupancy rate exceeding 95% [1] Group 1: Flight Operations - The resumed route operates with an Airbus A330 wide-body aircraft, with three flights per week on Wednesdays, Saturdays, and Sundays [4] - Flight MU563 departs Shanghai at 12:50 and arrives in Delhi at 17:45 local time, while the return flight MU564 leaves Delhi at 19:55 and arrives in Shanghai at 04:10 the next day, with a total flight duration of approximately 8 hours [4] Group 2: Future Plans - Eastern Airlines plans to adjust the frequency of flights based on market feedback and aims to restore the Kunming to Kolkata route, as well as introduce a new route from Shanghai Pudong to Mumbai [3] - The airline is focused on expanding its network between China and India to enhance connectivity [3] Group 3: Connectivity and Transfer Services - Eastern Airlines offers convenient transfer services at Pudong Airport, allowing passengers to connect to major cities in China and international destinations in North America, Japan, and South Korea [6] - Delhi's Indira Gandhi International Airport serves as a major aviation hub in India, providing strong transfer capabilities for passengers traveling to various cities in India, as well as to South Asia, the Middle East, and parts of Europe and Africa [6]

Core Viewpoint - China Eastern Airlines has officially resumed flights on the China-India route after a five-year hiatus, marking a significant development in the aviation industry between the two countries [1] Group 1: Company Developments - China Eastern Airlines' flight MU563, carrying 248 passengers, departed from Shanghai Pudong International Airport to Delhi, becoming the first domestic airline to resume passenger flights on this route in 2025 [1] - The route will be operated by an Airbus A330 wide-body aircraft, with flights scheduled three times a week on Wednesdays, Saturdays, and Sundays [1] Group 2: Industry Context - The resumption of direct flights between China and India is part of a broader effort to enhance bilateral relations, as stated by the Chinese Foreign Ministry [1] - India's Indigo Airlines also resumed direct flights from Kolkata to Guangzhou, marking the first direct air link between India and mainland China since 2020 [1]

Core Viewpoint - The resumption of the China-India passenger route by Eastern Airlines marks a significant milestone in the aviation industry, indicating a recovery in international travel and connectivity between the two countries [1][3]. Group 1: Flight Details - Eastern Airlines' flight MU563 from Shanghai Pudong International Airport to Delhi has a passenger load factor exceeding 95% on its inaugural journey [1]. - The route is operated by an Airbus A330 wide-body aircraft, with three weekly flights scheduled on Wednesdays, Saturdays, and Sundays [3]. - The outbound flight departs at 12:50 PM from Shanghai and arrives in Delhi at 5:45 PM local time, with a total flight duration of approximately 8 hours [3]. Group 2: Future Plans - Eastern Airlines plans to adjust the frequency of the route based on market feedback and intends to restore the Kunming to Kolkata route, as well as introduce a new route from Shanghai Pudong to Mumbai [5]. - The airline aims to enhance the connectivity of the China-India route network further [5]. Group 3: Connectivity and Transfer Services - Passengers arriving in China can easily connect to domestic flights to major cities and international routes to destinations in North America, Japan, South Korea, and other regions, thanks to the network established by Eastern Airlines at Pudong Airport [7]. - Delhi's Indira Gandhi International Airport serves as a major aviation hub in India, providing strong transfer capabilities for passengers traveling to various cities in India, as well as to South Asia, the Middle East, and parts of Europe and Africa [7].

Investment Rating - The report maintains a "Recommendation" rating for the transportation industry [3] Core Insights - The transportation industry is experiencing a recovery, with various segments showing potential for growth, particularly in shipping, infrastructure, aviation, and express delivery [7][19][22][20] Shipping - The shipping sector is seeing mixed price movements, with the SCFI for the US East route down 17.2% and the Southeast Asia route up 6.4% [11] - The report highlights the importance of monitoring the price increases in container shipping and the potential recovery in oil tanker rates due to improved US-China trade relations [16][12] Infrastructure - Key metrics indicate a decline in truck traffic and railway cargo, while port throughput has increased significantly, suggesting a shift in market dynamics [17][18] - The report emphasizes the potential for dividend stocks in the infrastructure sector, particularly in ports, which are currently undervalued [19] Aviation - The aviation sector shows a positive trend with a 7.2% year-on-year increase in passenger volume, driven by improved demand and a low base effect [22] - The report suggests that the industry is poised for profitability in 2026, with a focus on valuation recovery and potential investment opportunities in major airlines [22] Express Delivery - The express delivery sector is benefiting from a reduction in price competition, with a notable increase in business volume and revenue [20] - The report indicates that the "anti-involution" policies are helping to stabilize prices and improve profitability in the sector [20] Logistics - The logistics segment is experiencing stable performance, with cross-border air freight prices showing a week-on-week increase [23] - The report notes the importance of monitoring the daily traffic at key ports and the implications for logistics operations [23]