Group 1 - The increase in passenger traffic from Hainan is attributed to the implementation of the closure operation this year [1][6] - During the Spring Festival period, there is a peak in outbound transportation from Hainan, with tickets for flights and ferries becoming scarce [1][4] - For example, on February 20, the economy class tickets from Haikou to Guangzhou start at 2000 yuan (excluding taxes), and by February 22-23, all economy class tickets are sold out, leaving only a few business class tickets priced at 6210 yuan [1] Group 2 - The ferry tickets for the route from Haikou to Zhanjiang Xu Wen are fully sold out for the upcoming week, indicating high demand [4] - From February 2 to February 10, the total passenger flow in Hainan during the Spring Festival reached 4.86 million, a year-on-year increase of 6.34% [7] - The transportation of new energy vehicles saw a significant increase of 74% compared to the same period last year [7] Group 3 - The average daily inbound and outbound personnel during the Spring Festival is expected to reach 79,300, a 24.1% increase from last year [7] - In contrast, ticket prices for flights from mainland China to Hainan have significantly decreased, with prices as low as 320 yuan on February 24 [8]

Market Overview - The Hang Seng Index opened down 0.25% at 26,501.2 points, while the Hang Seng Tech Index fell 0.19% to 5,350.25 points, and the National Enterprises Index decreased by 0.08% to 9,025.6 points [1] - Major tech stocks experienced declines, with Alibaba down 1.8%, Tencent down 0.38%, and JD.com down 0.85%. However, Netease saw an increase of 1.83% [3][4] Industry Insights - Huatai Securities reported that the Hong Kong market experienced fluctuations last week, driven by global "reflation" trades and upgrades in AI domestic applications, leading to rebounds in resource products and certain software sectors. However, concerns over the intensifying competition among e-commerce giants suppressed the performance of heavyweight stocks [3] - The market remains volatile, with key factors influencing it being US stock performance, consumer activity during the Spring Festival, and advancements in AI technology [3] Regulatory News - The State Administration for Market Regulation held discussions with major platform companies including Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao, emphasizing compliance with various laws and regulations to enhance promotional practices [5] Company Developments - Qunhe Technology received approval from the China Securities Regulatory Commission for overseas issuance and listing, planning to issue up to approximately 312 million shares in Hong Kong, marking a significant step for the company [6] - China Merchants Energy signed shipbuilding contracts for one ethylene ship and eighteen oil tankers, totaling RMB 7.882 billion [7] - China Shenhua reported coal sales of 33.2 million tons in January, a year-on-year increase of 9.9%, and total electricity sales of 20.96 billion kWh, up 34.4% year-on-year [7] - China Southern Airlines saw a 1.1% decrease in passenger capacity and a 2.86% decline in passenger turnover in January, with a seat load factor of 83.26%, down 1.51 percentage points year-on-year [7] - China Eastern Airlines reported a 3.54% decrease in passenger capacity and a 1.03% decline in passenger turnover, with a seat load factor of 85.01%, up 2.16 percentage points year-on-year [7] - Huizhong Network completed the acquisition of a 25% stake in Jintongling, advancing its "production and sales integration" strategy [7] Performance Metrics - China General Nuclear Power completed 1,647.8 GWh of electricity generation in January, a year-on-year increase of 7.9% [8] - R&F Properties reported a contract sales revenue of approximately RMB 720 million in January, down 8.05% year-on-year [9] - Hopson Development Group recorded a contract sales amount of approximately RMB 591 million in January, a year-on-year increase of 24.95% [10] - Kaisa Group reported contract sales of RMB 325 million in January, down 35.3% year-on-year [11] - Jianye Real Estate reported contract sales of RMB 398 million in January, a year-on-year decrease of 31.1% [12] - Shanghai Fudan projected total revenue of approximately RMB 3.982 billion for 2025, a year-on-year increase of 10.92%, but a net profit decrease of 59.42% [12] - Ruian Real Estate issued a profit warning, expecting a net loss of between RMB 1.7 billion and 1.8 billion for the 2025 fiscal year [12]

货运运力投入同比下降0.03%，货邮周转量同比上升7.65%，货邮载运率为50.39%，同比上升3.59个百分 点。 当月无新增主要航线，退出1架A321飞机，截至2026年1月底运营971架运输飞机。 截至2026年2月13日收盘，南方航空（600029）报收于7.6元，较上周的8.22元下跌7.54%。本周，南方 航空2月9日盘中最高价报8.46元，股价触及近一年最高点。2月13日盘中最低价报7.58元。南方航空当前 最新总市值1377.19亿元，在航空机场板块市值排名2/12，在两市A股市值排名136/5189。 本周关注点 公司公告汇总 2026年1月，中国南方航空股份有限公司及所属子公司客运运力投入（按可利用座公里计）同比下降 1.10%，其中国内下降5.42%，地区上升0.12%，国际上升10.45%；旅客周转量同比下降2.86%，其中国 内下降6.91%，地区上升1.12%，国际上升7.96%；客座率为83.26%，同比下降1.51个百分点。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 公司公告汇总：南航2026年 ...

Investment Rating - The report assigns an "Accumulate" rating for the aviation industry [5]. Core Insights - The demand for civil aviation during the 2026 Spring Festival is expected to be strong, with limited additional flights, leading to a gradual narrowing of passenger growth rates. Ticket prices are anticipated to continue rising year-on-year during and after the holiday period. Coupled with lower oil prices, airline profitability is expected to improve significantly compared to the previous year [3][4]. Summary by Sections Industry Overview - The 2026 Spring Festival travel season officially began on February 2, with strong demand expected to set a new historical high for passenger flow. As of February 12, the overall flow of people increased by 2.3% year-on-year, with aviation leading at a growth rate of 5.4% [5][6]. Passenger Flow Analysis - Passenger flow for various transportation modes showed the following year-on-year growth rates: aviation at 5.4%, rail at 2.6%, and road at 2.2%. The first week of travel was impacted by adverse weather, but recovery was noted in the second week as conditions improved [5][6][8]. Airline Performance - Daily average passenger volume for civil aviation reached approximately 2.36 million, with a year-on-year increase of 5.4%. The growth rate is in line with expectations, although the limited number of additional flights may lead to a slight decrease in growth rates as the holiday approaches [5][8]. Ticket Pricing Trends - The report estimates that domestic load factors increased by about 1 percentage point year-on-year, with ticket prices (excluding fuel surcharges) rising by approximately 1-2%. Despite a 13% year-on-year decrease in jet fuel prices, the net ticket prices are expected to rise, indicating an improvement in airline gross margins [5][8]. Future Outlook - The report anticipates a "super cycle" for the Chinese aviation industry, driven by sustained demand growth and a shift towards market-driven pricing. The upcoming peak season is expected to significantly enhance airline profitability, with the first quarter of 2026 likely to see industry-wide profitability [5][8]. Recommended Stocks - The report recommends accumulating shares of key airlines, including Air China, Juneyao Airlines, China Eastern Airlines, China Southern Airlines, and Spring Airlines, based on their expected performance and market conditions [5][13].

本次召回范围内的部分车辆，由于高压电池生产工艺波动导致电池可靠性下降，且现有的电池管理系统 软件的控制策略可能造成这些电池单体承受过大载荷，增加其内部短路的风险，可能导致车辆起火事 故，存在安全隐患。 北京商报讯（记者 蔺雨葳）2月14日，国家市场监督管理总局召回中心发布的消息显示，日前，北京奔 驰汽车有限公司根据《缺陷汽车产品召回管理条例》和《缺陷汽车产品召回管理条例实施办法》的要 求，向国家市场监督管理总局备案了召回计划。 召回编号S2026M0026I：自2026年6月25日起，召回生产日期在2021年4月1日至2024年3月12日期间的部 分国产EQA和EQB汽车，共计19481辆。 为了确保用车安全，在更换高压电池前，建议用户将车辆的充电上限设定为不超过80%，并将车辆停放 在室外。 本次召回为2025年3月28日发布的《北京奔驰汽车有限公司召回部分国产EQA和EQB汽车》的再次召 回，并扩大了召回范围。 本次召回活动是在国家市场监督管理总局启动缺陷调查情况下开展的。受调查影响，北京奔驰汽车有限 公司将通过授权经销商为受影响的车辆更换高压电池，以消除安全隐患。 ...

"大吉大荔"新春伴手礼荔枝酥礼盒，鲍鱼红烧肉寓意"金玉满堂"……马年春运期间，万米高空也飘起了 浓郁的广府年味。返乡旅客陈先生通过南航App选购机上餐食时惊喜地发现，粤式明炉叉烧饭、金玉满 堂鲍鱼红烧肉等多款地道粤式年菜全新上线，一口鲜香便让归乡之旅多了几分暖意。2月13日，在中国 南方航空与中国大酒店联合研发下，"云端新遇·年味团圆"主题套餐正式推出，为返乡旅客及各地游客 带来别具一格的美食体验，也为"食在广州"金名片增添云端新场景，让广府美味随航线飞向全国。 据悉，乘坐南航广州始发明珠经济舱及经济舱正餐航班的旅客，可通过南航App提前24小时预订新春特 色餐食。主菜鲍鱼红烧肉寓意"金玉满堂"，冷荤"瑞彩捞鸡"取意"捞起捞起，风生水起"，搭配双福贺喜 元宝红豆酥与紫薯山药糕两款粤式茶点，让旅客在云端也能品味"舌尖上的年味"。据南航食品公司市场 部乘务长文歌介绍，双方联名推出的"大吉大荔"新春伴手礼荔枝酥礼盒，采用锁鲜保形工艺，留住高州 桂味荔枝的天然甜香，将在广州、北京、乌鲁木齐等全国15个站点出港航班免费派送，为万千归乡旅客 送上岭南专属的甜蜜年味。 此次云端美食的推出，是广州推动餐饮服务场景创新、拓展" ...

Core Viewpoint - China Southern Airlines has launched an interactive feature on its app that allows travelers to create personalized digital boarding passes using AI technology, enhancing the travel experience during the peak Spring Festival travel period [1] Group 1: Company Initiatives - China Southern Airlines has integrated the "AI Customize Your Destination Drawing" feature into its app, which utilizes the AI capabilities of Wanxiang to generate unique artistic boarding passes [1] - The feature allows travelers to select from 36 popular destinations, including Guangzhou and Shenzhen, and creates a boarding pass that incorporates local cultural elements [1] Group 2: Operational Details - The interactive activity is available through a pop-up on the China Southern Airlines app and a dedicated event page, running until February 25 [1] - This initiative aims to provide a personalized AI experience for over 80 million passengers expected during the Spring Festival travel peak [1]

公告显示，1月载客人数为13988.62千人，同比下降5.81%；货邮运量为160.02千吨，同比下降1.27%。 南方航空1月30日晚间披露2025年度业绩预告，预计2025年归母净利润8亿元，上年同期亏损16.96亿 元；扣非净利润预计1.3亿元至1.9亿元，上年同期亏损39.48亿元。 | 载客人数(千人) | | | | | | | --- | --- | --- | --- | --- | --- | | 国内 | 11, 884. 62 | 0. 77 | -7.82 | 11, 884. 62 | -7.82 | | 地区 | 153. 70 | 0. 75 | 0. 49 | 153. 70 | 0. 49 | | 国际 | 1, 950. 30 | 1.97 | 8. 04 | 1, 950. 30 | 8.04 | 来源：读创财经 | 合计 | 13. 988. 62 | 0. 94 | -5. 81 | 13.988.62 | -5.81 | | --- | --- | --- | --- | --- | --- | | 货运及邮运量(千吨) | | | | | | | 国内 | 77. ...

Core Viewpoint - The upcoming Spring Festival travel rush is expected to see a significant increase in passenger flow, with self-driving trips dominating the travel mode, accounting for approximately 80% of the total. The civil aviation passenger volume is projected to reach 95 million, surpassing historical records for both overall scale and daily peak [1]. Group 1: Self-Driving Travel - Self-driving remains the primary mode of travel, with 80% of travelers opting for this method [1] - New energy vehicle drivers can use the "e Road Smooth" app to check the status of charging stations in real-time, and should allow extra time for charging due to reduced efficiency in winter [2] - The upgraded "Eagle Eye Guardian" warning system provides real-time alerts for adverse weather and driving conditions, enhancing safety for self-driving travelers [3] Group 2: Car Rentals - Rental car orders are expected to surge during the Spring Festival, with companies optimizing pick-up and drop-off processes [4] - Shenzhou Car Rental offers free or low-cost options for returning cars in different locations, particularly in snow tourism hotspots [4] - Didi Car Rental provides free third-party damage assessment services to resolve disputes, while iRent continues to offer services like credit-free deposits and self-service returns [4] Group 3: Highway Travel - Small passenger cars will continue to enjoy free highway tolls during the Spring Festival, with the Ministry of Transport advising drivers to exit highways before the end of the free period to avoid full toll charges [5] Group 4: Air Travel - Passengers are advised to arrive at the airport 2-3 hours before their flight during the peak travel period to avoid missing flights [6] - Travelers can apply for temporary boarding passes through WeChat or Alipay if they forget their ID [7] - Specific guidelines for carrying and checking in seasonal goods, such as seafood and alcohol, are provided to ensure compliance with airline regulations [9][10] - Passengers should be cautious of scams involving fake calls about flight cancellations and verify information through official channels [11]

Core Viewpoint - The upcoming Spring Festival travel season is expected to see a peak in passenger flow, with self-driving trips remaining the primary mode of transportation, accounting for approximately 80% of total travel. The civil aviation passenger volume is projected to reach 95 million, surpassing historical records for both overall scale and single-day peak [1]. Self-Driving Travel - Charging and navigation tips include using the "e Road Smooth" app to check the status of charging stations in real-time, and being aware that charging efficiency may decrease in winter temperatures, necessitating more time for charging [2]. - Safety measures for self-driving include the upgraded "Eagle Eye Guardian" warning system, which provides real-time alerts for adverse weather conditions and critical driving scenarios, helping drivers to respond appropriately [3]. - Rental car services are enhancing their processes, with companies like Shenzhou Car Rental offering free or low-cost options for returning cars in different locations, and Didi Car Rental providing free third-party damage assessment services to avoid disputes [4]. Highway Travel - During the Spring Festival, small passenger cars will continue to enjoy free highway tolls, with the Ministry of Transport advising drivers to exit highways before the end of the free period to avoid full toll charges [5]. Air Travel - Passengers are advised to arrive at the airport 2-3 hours before their flight during the peak travel period to ensure timely check-in and customs clearance, especially for international flights [6]. - In case of forgetting identification, travelers can apply for a temporary boarding pass through WeChat or Alipay, or obtain a paper version at the airport police station [7]. - For carrying seasonal goods, it is recommended to properly package perishable items for checked baggage, while certain items like seafood are prohibited on international flights [9]. - Different airlines have varying policies for oversized luggage, such as ski equipment, and travelers should confirm these details in advance [10]. - Travelers are warned about potential scams involving impersonation of airline customer service representatives, and are advised to verify any flight changes through official channels [11].