Investment Rating - The report maintains a "Recommend" rating for the aviation sector, highlighting potential opportunities in the industry [2][3]. Core Insights - The Spring Festival travel rush has begun, with air passenger volume averaging 2.313 million per day, up 5.5% year-on-year, while railway passenger volume averaged 11.792 million, down 0.7% year-on-year [1][10]. - The report emphasizes the competitive landscape in instant retail, particularly with the launch of the "30 Billion Free Order" campaign by Qianwen, which saw over 10 million orders in just 9 hours [2][35]. - The report identifies key players in the aviation sector, including China National Airlines, Southern Airlines, and Eastern Airlines, as well as low-cost carriers like Spring Airlines, which are expected to benefit from high price elasticity and operational efficiency [2][34]. Industry Data Tracking - Air freight rates at Pudong Airport increased by 5.3% week-on-week and 8.9% year-on-year as of February 2 [7][44]. - The VLCC freight rate rose by 2% week-on-week, while the BDI decreased by 10% [7][48]. - The report highlights the growth potential in the express logistics sector, particularly for leading companies like Zhongtong and Yuantong, as well as the promising outlook for instant retail leader SF Express [7][31]. Investment Recommendations - The report suggests focusing on "performance elasticity" and "dividend value" as key investment themes for the transportation sector in 2026 [7][31]. - It recommends continued investment in the aviation sector due to expected low growth in aircraft supply and a projected 5% increase in passenger numbers [2][31]. - The report also emphasizes the importance of dividend assets, recommending companies like Sichuan Chengyu and China Merchants Port for their stable performance and potential for increased dividends [7][31].

（来源：消费日报官方平台） 据中国新闻周刊，对此，2月6日，记者致电中国国际航空客服热线了解到，称体重是为了保证航班的业载重量保持在限制范围之内，"飞机承重是有上限 的，可能是担心这个问题"，对于旅客体重情况不记名，"肯定会进行保密"。客服人员表示，目前对旅客没有体重方面的限制。 rant 144, 2 1191 A 201 .. .. � 05 e start the state ge the t re, and 7 0 10 art a provin r (4) 与日 70 d a Amil == 917 p 34 r 44.2 评论区有网友提出，部分乘客可能对公开称重数据有所顾虑，是否可以自主选择不参与体重测量？针对体重测量是否采取自愿参与的方式，航空公司客服 回应需要进一步核实后给予明确答复。而发布相关讨论的网友补充说明："现场工作人员会逐一征询乘客意见，所有测量都是在自愿基础上进行的，参与 者还会收到纪念品。" 有部分网友坚决反对，认为体重属于高度个人隐私，绝不应被公开。还有部分网友表示，为了安全可以理解。 转自：消费日报官方平台 近日，有网友发文称，乘坐中国国航的航班在登机前要现场称体重，引发热议 ...

童声飞出大山 让世界听见昭平 《中国民航报》、中国民航网 记者张丰繁 报道：踏上国航春运归途的航班，一段柔和而辽远的旋律在 舱内缓缓流淌……这不仅是登机的背景音乐，更是国航为您与亲友的相聚，悉心编织的一段跨越山海的 温暖前奏。 国航2026年版全新登机音乐《远方的远方》，以动人的词曲，承载了一份持续十几年的温暖叙事——它 是从脱贫攻坚到乡村振兴，国航人与帮扶地区群众一路相伴的深情回响；它也是一把轻盈的情感钥匙， 为每一位归家的游子，轻轻推开那扇连接故乡与心灵的窗。 歌曲诞生后，获得了更动人的演绎——在昭平县江口村，有一支由国航打造的"凤之音"山区少儿合唱 团。孩子们用清澈纯真的嗓音，唱响了这首属于他们家乡的歌。他们的演唱被制作成MV，孩子们淳朴 的声音和昭平如画的山水，感动了无数人。这歌声飞到了北京，飞到了苏尼特草原，也飞到了贵州"村 超"现场……国航如一只传递吉祥的凤凰，托举孩子们看见了更远的世界，也让昭平的声音传向远方。 匠心融入云端 让温情陪伴每一段旅程 "远方的远方"是旅人归家的渴望，是团圆的期盼，也是一次美好的出发本身。当承载着温情和奋斗故事 的旋律响起，它如同一座无形的桥梁，连接起个体的旅程与宏大 ...

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) announced the incentive income for executives of central enterprises for the 2022-2024 term, which consists of annual salary and term incentive income, with the latter being distributed every three years [1][3]. Group 1: Incentive Income Overview - A total of 87 central enterprises have disclosed their incentive income for the 2022-2024 term [3]. - Notable executives and their respective incentive incomes include: - Jie Houliang, Chairman of China National Petroleum Corporation, with an incentive income of 86.21 million RMB [3]. - Ma Yongsheng, Chairman of Sinopec, with an incentive income of 84.81 million RMB [5]. - Wang Dongjin, Chairman of CNOOC, with an incentive income of 86.06 million RMB [7]. - Zhang Wei, Chairman of State Grid Corporation, with an incentive income of 78.17 million RMB [10]. - Meng Zhenping, Chairman of China Southern Power Grid, with an incentive income of 83.54 million RMB [11]. Group 2: Additional Executive Incentive Incomes - Other notable executives include: - Wen Shugang, Chairman of China Huaneng Group, with an incentive income of 63.47 million RMB [12]. - Zou Lei, Chairman of China Datang Corporation, with an incentive income of 80.02 million RMB [14]. - Liu Mingsheng, Chairman of State Power Investment Corporation, with an incentive income of 26.02 million RMB [16]. - Wang Xiangming, Chairman of China Resources Group, with an incentive income of 82.44 million RMB [36]. - Miao Jianmin, Chairman of China Merchants Group, with an incentive income of 85.08 million RMB [34].

Group 1 - The aviation stocks experienced significant gains in the afternoon trading session, with Eastern Airlines (00670) rising by 7.76% to HKD 6.25 [1][3] - Air China (00753) saw an increase of 5.21%, reaching HKD 7.47 [1][3] - China Southern Airlines (01055) rose by 6.23%, trading at HKD 6.48 [1][3] - Cathay Pacific Airways (00293) had a more modest increase of 0.97%, priced at HKD 12.52 [1][3]

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) announced the incentive income for executives of central enterprises for the 2022-2024 term, with a total of 87 enterprises disclosing their incentive income figures. Group 1: Incentive Income Overview - The total incentive income for central enterprise executives consists of annual salary and term incentive income, with the latter being distributed every three years [1]. - Notable figures include: - Jiao Houliang, Chairman of China National Petroleum Corporation, with an incentive income of 86.21 million RMB for the 2022-2024 term [1]. - Ma Yongsheng, Chairman of Sinopec, with an incentive income of 84.81 million RMB [3]. - Wang Dongjin, Chairman of China National Offshore Oil Corporation, with an incentive income of 86.06 million RMB [4]. Group 2: Specific Executive Incentive Income - Zhang Wei, Chairman of the National Oil and Gas Pipeline Group, has an incentive income of 78.17 million RMB [6]. - Meng Zhenping, Chairman of China Southern Power Grid, has an incentive income of 83.54 million RMB [8]. - Temperature of incentive income varies across different enterprises, with some executives like Liu Mingsheng from China Power Investment Corporation receiving 26.02 million RMB for the 2022-2024 term [13]. Group 3: Additional Notable Executives - Chen Zhongyue, Chairman of China Unicom, has an incentive income of 80.49 million RMB [17]. - Xu Peng, from China First Automobile Group, has an incentive income of 82.54 million RMB [23]. - Wang Xianming, Chairman of China Resources Group, has an incentive income of 82.44 million RMB [54].

Group 1 - Hong Kong aviation stocks experienced a significant upward trend, with China Eastern Airlines (00670.HK) rising over 7% [1] - China Southern Airlines (01055.HK) saw an increase of more than 6% [1] - Other stocks such as Air China (00753.HK) and Cathay Pacific Airways (00293.HK) also followed the upward movement [1]

| 来源：新浪财经 （免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。） | | --- | | 编辑 段炼 杜恒峰 | | 校对 何小桃 | | 封面图片：视觉中国（图文无关） | 每日经济新闻综合自公开资料 每经编辑｜段炼 2月4日，A股航空运输板块集体爆发。截至发稿，东航涨停，南航涨超7%，国航涨超6%，华夏航空、春秋航空、吉祥航空、海航等纷纷上涨。 ...

Group 1 - The core viewpoint of the article highlights a significant increase in airline stocks, with China National Airlines, Eastern Airlines, Southern Airlines, and Cathay Pacific experiencing notable gains in their stock prices [1] - The 2026 Spring Festival holiday has been extended, which is expected to boost travel for family visits and tourism [1] - The national Spring Festival transportation conference predicts that cross-regional passenger flow during the 2026 Spring Festival will reach 9.5 billion trips, representing a year-on-year increase of approximately 5.3%, setting a new historical record [1] Group 2 - Data from the travel industry indicates that as of January 29, domestic flight bookings have exceeded 7.16 million, with a daily average booking increase of 16% year-on-year [1] - Galaxy Securities reports that high-frequency booking data corroborates official passenger volume forecasts, reflecting strong demand for civil aviation travel [1] - The combination of robust travel demand and steady release of flight supply is expected to support improvements in both passenger flow and revenue levels for civil aviation during the Spring Festival [1]

Group 1 - The core viewpoint of the article highlights a significant increase in airline stocks, with China National Aviation (00753) rising by 5.49% to HKD 7.49, Eastern Airlines (00670) up by 5.17% to HKD 6.1, Southern Airlines (01055) increasing by 4.92% to HKD 6.4, and Cathay Pacific (00293) rising by 0.97% to HKD 12.52 [1] - The 2026 Spring Festival holiday has been extended, which is expected to boost travel for family visits and tourism [1] - The national Spring Festival transportation meeting forecasts that cross-regional personnel flow during the 2026 Spring Festival will reach 9.5 billion trips, a year-on-year increase of approximately 5.3%, setting a new historical high [1] Group 2 - Data from the travel industry indicates that as of January 29, domestic flight bookings have exceeded 7.16 million, with an average daily ticket booking volume increasing by 16% year-on-year [1] - Galaxy Securities notes that high-frequency booking data corroborates official transportation volume forecasts, reflecting strong demand for civil aviation travel, which, combined with a steady release of flight supply, is expected to support improvements in both passenger flow and revenue levels during the Spring Festival [1]