Core Viewpoint - The practice of charging for seat selection in airlines is seen as a method to increase revenue by locking premium seats, which raises concerns about consumer rights and fair trading [1] Group 1: General Findings - The survey conducted by Jiangsu Consumer Protection Committee revealed that all 10 selected domestic airlines have implemented seat locking practices, with no airline fully opening all economy class seats [2] - The average seat locking rate across the surveyed routes is 38.7%, with some airlines like Spring Airlines and Shenzhen Airlines exceeding 60% and 50% respectively [2] Group 2: Payment for Unlocking Seats - Many airlines require consumers to use miles or membership points to unlock preferred seats, with specific examples showing that certain seats can require up to 2000 points for unlocking [3] - Some airlines have introduced additional paid options for purchasing points or miles, further pushing consumers towards paid unlocking methods [3] Group 3: Lack of Transparency - Airlines provided vague explanations for seat locking, citing reasons such as reserving seats for special passengers or maintaining flight balance, which do not align with the high locking rates observed [4][5] - Customer service responses were often unclear, failing to provide solid justifications for the locking practices [5] Group 4: Unfair Terms - The seat selection agreements of the airlines contain unfair terms, lacking clear communication about locking rules and fees, which may infringe on consumer rights [6] - Airlines are currently evaluating their policies to balance revenue optimization with consumer rights and improve transparency in seat selection information [6]

Core Viewpoint - The investigation by Jiangsu Consumer Protection Committee reveals that the practice of locking seats by airlines is widespread and raises concerns about consumer rights and transparency in the airline industry [3][4]. Group 1: Investigation Findings - The survey included 10 major domestic airlines, all of which confirmed the existence of seat locking practices, with no airline fully opening all economy class seats [4]. - The average seat locking ratio across the surveyed airlines is 38.7%, with some routes showing locking ratios as high as 62.1%, such as Spring Airlines' "Nanjing-Lanzhou" route [4]. - Preferred seating areas, such as front rows and exit rows, are commonly included in the locked categories, with higher fees or points required for unlocking these seats [4]. Group 2: Payment and Redemption Issues - Some airlines require consumers to use miles or membership points to unlock preferred seats, with specific examples showing redemption thresholds of 2000 points for premium seats [5]. - Airlines have introduced additional paid options for purchasing points or miles, further pushing consumers towards paid unlocking methods [6]. Group 3: Transparency and Communication - Airlines provided vague explanations for seat locking, citing reasons like reserving seats for special passengers or maintaining flight balance, which contradicts the high locking ratios observed [7]. - Customer service responses were often unclear, failing to provide satisfactory explanations for the locking practices, which raises concerns about consumer rights [7]. Group 4: Unfair Terms and Conditions - The seat selection agreements of the airlines contain unfair terms, lacking clear communication about locking rules and fees, which may infringe on consumer rights [8]. - Airlines often use ambiguous language in their agreements, avoiding the disclosure of free seat availability and locking practices, which benefits the airlines at the expense of consumer transparency [8].

Group 1 - The core point of the article is that China Southern Airlines (01055.HK) experienced a significant increase in stock price, rising over 5% during trading and currently up by 3.78%, reaching HKD 5.77 per share [1] - The trading volume for China Southern Airlines reached HKD 44.52 million [1]

Core Viewpoint - Southern Airlines (01055) has shown a positive market response, with a stock price increase of over 5% during trading, currently at 5.77 HKD, supported by a report from Huatai Securities highlighting optimistic operational forecasts for 2025 [1] Group 1: Operational Performance - Southern Airlines announced a projected growth in ASK (Available Seat Kilometers) and RPK (Revenue Passenger Kilometers) of 6.6% and 8.3% respectively for 2025, with a passenger load factor of 85.7%, marking a year-on-year increase of 1.4 percentage points, setting a new historical high for the year [1] - The airline's fleet size is industry-leading, and the improvement in passenger traffic is expected to enhance revenue levels [1] Group 2: Profitability Outlook - Huatai Securities has raised its net profit forecasts for Southern Airlines for the years 2025 to 2027 by 59%, 42%, and 29% respectively, estimating net profits of 1.023 billion, 8.573 billion, and 11.035 billion RMB, which correspond to earnings per share of 0.06, 0.47, and 0.61 RMB [1] - The upward revision in performance is primarily attributed to improved industry supply and demand dynamics, along with deeper implementation of anti-involution policies, leading to an increase in unit revenue per passenger kilometer by 0.1%, 1.1%, and 1.6% [1] Group 3: Market Catalysts - The improvement in the airline industry is expected to boost revenue levels and profitability for Southern Airlines, with short-term catalysts such as the upcoming Spring Festival travel data potentially driving further positive momentum [1] - Favorable conditions such as oil prices and the USD to RMB exchange rate are anticipated to benefit the company's profit margins [1]

Core Viewpoint - The aviation sector is experiencing significant stock price increases, driven by positive forecasts for passenger transport during the upcoming Spring Festival travel season in 2026 [1] Group 1: Stock Performance - Eastern Airlines (00670) shares rose by 7.66%, trading at HKD 5.62 [1] - Southern Airlines (01055) shares increased by 4.68%, trading at HKD 5.82 [1] - Air China (00753) shares grew by 3.18%, trading at HKD 7.13 [1] - Cathay Pacific (00293) shares saw a modest rise of 0.66%, trading at HKD 12.29 [1] Group 2: Passenger Transport Forecast - The Spring Festival travel period in 2026 is set to begin on February 2 and end on March 13 [1] - The predicted passenger transport volume for the 40-day Spring Festival is expected to reach 95 million, averaging 2.375 million passengers per day, which represents a year-on-year growth of 5.3% [1] Group 3: Market Demand Insights - A report from Zhongtai Securities indicates that the later timing of the Spring Festival this year may lead to varied return travel patterns among different demographics [1] - The ongoing winter break for universities is expected to boost travel demand among students [1] - Short-term favorable conditions in oil and exchange rates, combined with the "anti-involution" trend and the Spring Festival holiday, are likely to enhance the aviation sector's volume and pricing outlook [1]

Group 1 - The core viewpoint of the article highlights a significant increase in airline stocks, with Eastern Airlines rising by 7.66%, Southern Airlines by 4.68%, Air China by 3.18%, and Cathay Pacific by 0.66% [1] - The 2026 Spring Festival travel season is set to begin on February 2 and end on March 13, with an expected passenger volume of 95 million over the 40 days, averaging 2.375 million passengers per day, representing a year-on-year growth of 5.3% [1] - A report from Zhongtai Securities indicates that the later timing of the Spring Festival this year may lead to varied return travel patterns among different demographics, particularly benefiting student travel as schools begin their winter breaks, which is expected to boost market demand [1] Group 2 - Short-term favorable conditions in oil and exchange rates are anticipated to continue, alongside the "anti-involution" trend and the Spring Festival holiday, creating a strong expectation for improved airline volume and pricing [1] - The positive changes in the fundamentals of the airline industry are expected to present investment opportunities [1]

Group 1 - The core viewpoint of the article highlights a significant rise in Hong Kong's airline stocks, with China Eastern Airlines increasing by over 6% and both Air China and China Southern Airlines rising by over 2% [1]

Group 1 - The core viewpoint of the article highlights that China Southern Airlines (CZ) is enhancing its flight services in Guizhou to meet the travel demand during the upcoming Spring Festival by adding new direct flights and increasing the frequency of popular routes [2][3] Group 2 - A new direct flight route from Guiyang to Shenyang will commence on February 2, with daily departures at 09:30 from Guiyang and arrivals at 13:05 in Shenyang, significantly reducing travel time between Northeast and Southwest regions [2] - The airline will also increase the frequency of several busy routes, including the Guiyang-Urumqi route, which will have daily flights starting February 2, and the Guiyang-Yiwu route, with daily flights also starting February 2 [2] - From January 27, the Guiyang-Hangzhou route will see an increase in frequency, with daily flights scheduled [2][3] - After these adjustments, there will be three daily flights from Guiyang to both Hangzhou and Urumqi, and two daily flights to Shenyang and Yiwu [3] - The airline is utilizing big data analysis to dynamically adjust flight plans based on passenger flow, prioritizing transportation for workers, students, and family visits during the Spring Festival [3] - Currently, China Southern Airlines operates routes from Guiyang to 28 cities nationwide, establishing a comprehensive air network that connects the east and west, as well as the north and south [3]

Market Overview - The Hong Kong stock index opened high but closed lower, with the Hang Seng Index down 0.29% at 26,844.96 points, the Hang Seng Tech Index down 0.11% at 5,822.18 points, the National Enterprises Index down 0.5% at 9,220.81 points, and the Red Chip Index down 0.34% at 4,139.41 points [1] Company News - Tencent Holdings (00700.HK) repurchased 1.017 million shares for HKD 636 million at a price range of HKD 619-632 [2] - Xiaomi Group (01810.HK) repurchased 3.9 million shares for HKD 148 million at a price range of HKD 37.86-37.92 [3] - Six Fortune Group (00590.HK) reported a retail value increase of 26%, retail income increase of 17%, and same-store sales increase of 15% in Q3, exceeding expectations [3] - China Southern Airlines (01055.HK) reported a 11.89% increase in passenger capacity and a 19.28% increase in cargo capacity for December 2025 [6] Industry Insights - Tianfeng Securities noted that the Hong Kong stock market has a basis for short-term valuation recovery and sentiment improvement, but upward momentum may be constrained by high overseas interest rates [7] - The firm suggested a focus on technology and consumer sectors that are relatively undervalued [7] - According to Huatai Securities, the market is experiencing a shift towards a bullish sentiment, with historical data indicating a high probability of price increases following a period of panic [8] - Industry recommendations include prioritizing leading companies in the AI sector and exploring opportunities in insurance, banking, energy, and new consumption areas [8]

Core Viewpoint - China Southern Airlines has experienced a decline in stock price and significant net outflow of funds, indicating potential challenges in the market despite a slight increase in revenue and profit year-on-year [1][2]. Group 1: Stock Performance - As of January 16, China Southern Airlines' stock price fell by 2.12% to 7.38 CNY per share, with a total market capitalization of 133.73 billion CNY [1]. - The stock has decreased by 7.87% year-to-date, with a 7.40% drop over the last five trading days and a 1.47% decline over the last 20 days, although it has increased by 11.31% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, China Southern Airlines reported operating revenue of 137.67 billion CNY, representing a year-on-year growth of 2.23% [2]. - The net profit attributable to shareholders for the same period was 2.31 billion CNY, reflecting a year-on-year increase of 17.40% [2]. Group 3: Shareholder and Dividend Information - Since its A-share listing, China Southern Airlines has distributed a total of 6.63 billion CNY in dividends, with no dividends paid in the last three years [3]. - As of September 30, 2025, the number of shareholders decreased by 4.76% to 133,300, with an average of 0 shares per shareholder [2][3]. - The top circulating shareholder, Hong Kong Central Clearing Limited, increased its holdings by 4.32 million shares to 586 million shares [3].