消息面上，据新华社12月27日报道，全国人大常委会会议12月27日表决通过新修订的民用航空法，自 2026年7月1日起施行。这部新修订的法律共16章262条，本次修法贯彻落实党中央决策部署，适应民航 事业发展新形势新要求，充实完善规范民用航空活动、保障民用航空安全和支持民航制造业、运输业、 低空经济发展的各方面制度措施，对于推动民航事业高质量发展具有重要意义。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 曾庆怡）12月29日上午，A股民用航空概念震荡上涨。截至10时11分，中国 国航涨超6%，中国东航、南方航空涨超3%。港股航空板块同步拉升，中国国航、中国东方航空股份涨 超3%，中国南方航空股份涨超2%。 上证报中国证券网讯（记者 曾庆怡）12月29日上午，A股民用航空概念震荡上涨。截至10时11分，中国 国航涨超6%，中国东航、南方航空涨超3%。港股航空板块同步拉升，中国国航、中国东方航空股份涨 超3%，中国南方航空股份涨超2%。 消息面上，据新华社12月27日报道，全国人大常委会会议12月27日表决通过新修订的民用航空法，自 2026年7月1日起施行。这部新修订的法律共16章262条，本次修法 ...

本文源自：金融界AI电报 近日连续回调的港股三大指数再度活跃，中国国航一度涨近5%刷新近期阶段新高，中国东方航空目前 涨3.5%，中国南方航空涨2%。 ...

Group 1 - The core viewpoint of the news highlights the recent rebound in Hong Kong's stock indices, particularly in the airline sector, with China National Aviation experiencing a nearly 5% increase, reaching a recent high [1] - The upcoming New Year holiday is expected to drive both volume and price increases in the airline ticket market, with significant activity noted in the tourism sector due to multiple factors including the closure of Hainan and the approaching holiday [1] - The civil aviation market for the New Year holiday shows a marked increase in activity compared to previous years, with airlines boosting capacity on popular winter tourism routes, leading to higher ticket sales progress [1] Group 2 - Specific stock performance includes China National Aviation at 7.070 with a 3.97% increase, China Eastern Airlines at 5.280 with a 3.53% increase, and China Southern Airlines at 5.700 with a 1.97% increase [2] - There is a notable increase in passenger flow from Northeast regions to Shenzhen, with a year-on-year growth of 4.3% in traffic at Shenzhen Airport [1]

Group 1 - The core viewpoint of the article highlights a significant increase in airline stocks, driven by favorable market conditions and upcoming holiday travel demand [1] - China Southern Airlines (01055) saw a stock increase of 1.97%, trading at 5.7 HKD, while China Eastern Airlines (00670) rose by 3.73% to 5.29 HKD, and Air China (00753) surged by 4.41% to 7.1 HKD [1] - The offshore RMB against the USD briefly surpassed the "7" mark, alleviating exchange rate pressure on airlines [1] Group 2 - Data indicates that domestic flight ticket bookings exceeded 2.71 million, representing a year-on-year increase of approximately 35% as of December 25 [1] - The upcoming New Year holiday from January 1 to January 3, 2026, is expected to boost travel, with flexible holiday arrangements encouraging more air travel [1] - Analysts from Zhongtai Securities express optimism regarding the airline sector, citing falling oil prices, a stronger RMB, and the holiday season as catalysts for improved airline performance [1]

消息上，元旦假期临近，2026年元旦机票市场预计会"量价齐升"。在海南封关及元旦假期临近等多重驱 动下，旅游板块近期持续活跃。 | 代码 | 名称 | 最新价 涨跌幅 v | | --- | --- | --- | | 00753 | 中国国航 | 7.070 3.97% | | 00670 | 中国东方航空股 | 5.280 3.53% | | 01055 | 中国南方航空股 | 5.700 1.97% | 近日连续回调的港股三大指数再度活跃，中国国航一度涨近5%刷新近期阶段新高，中国东方航空目前 涨3.5%，中国南方航空涨2%。 今年元旦假期民航市场热度较往年明显上升。多家航空公司在热门冰雪游航线上增投了运力，目前机票 销售进度已超其它航线。相关人士表示，深圳工作的人去北方旅游，东北地区的游客也流行来深圳旅 游。深圳机场往返东北客流量，最近已同比增长了4.3%。 ...

每经AI快讯，港股航空股早盘普涨，截至发稿，中国国航(00753.HK)涨4.41%，报7.1港元；东方航空 (00670.HK)涨3.73%，报5.29港元；南方航空(01055.HK)涨1.97%，报5.7港元。 ...

Group 1 - The core viewpoint of the article highlights a significant increase in airline stocks, driven by favorable market conditions and upcoming holiday travel demand [1] - China Southern Airlines (01055) saw a stock increase of 1.97%, reaching 5.7 HKD, while China Eastern Airlines (00670) rose by 3.73% to 5.29 HKD, and Air China (00753) increased by 4.41% to 7.1 HKD [1] - The offshore RMB against the USD has recently strengthened, surpassing the "7" mark, which alleviates the foreign exchange pressure on airlines [1] Group 2 - Data indicates that domestic flight ticket bookings exceeded 2.71 million, representing a year-on-year increase of approximately 35% as of December 25 [1] - The upcoming New Year holiday, from January 1 to January 3, 2026, is expected to boost travel, with flexible holiday arrangements encouraging more air travel [1] - Analysts from Zhongtai Securities express optimism regarding the airline sector, citing falling oil prices, a stronger RMB, and the holiday season as catalysts for improved airline performance [1]

消息面上，近日，离岸人民币对美元汇率一度升破"7"整数关口。另据央视财经报道，2026年元旦假期 快到了，越来越多的消费者通过旅行的方式辞旧迎新。数据显示：2026年元旦假期，从北京、天津、上 海等城市飞往三亚、海口、昆明、广州、长白山（603099）、哈尔滨等热门目的地的机票预订量环比上 涨较快。截至12月25日，国内航线机票预订量超271万张，同比增长约35%。 中泰证券（600918）认为，人民币汇率升值下航司汇兑压力缓解。此外，元旦假期将至（2026年元旦放 假安排为1月1日（周四）至3日（周六）），假期构成灵活，可通过拼假延长假期，利好航空出行。短 期来看，伴随原油价格破位下行、人民币汇率走强，以及元旦及春运假期催化，航空量价向好预期较 强，看好基本面积极变化带动下的航空投资机会。 航空股早盘普涨，截至发稿，中国国航（601111）(00753)涨4.41%，报7.1港元；东方航空(00670)涨 3.73%，报5.29港元；南方航空（600029）(01055)涨1.97%，报5.7港元。 ...

Investment Rating - The report does not explicitly state an overall investment rating for the industry, but it recommends specific companies such as SF Express and China Southern Airlines based on their performance and market conditions [2][4]. Core Views - The express delivery sector shows a year-on-year growth of 5% in November, with some companies benefiting from price increases due to reduced competition. The total express delivery volume reached approximately 180.6 billion pieces, while revenue decreased by 3.7% to 137.65 billion yuan [2]. - In logistics, the chemical transportation prices remained stable, and the report recommends Haichen Co. for its focus on smart logistics and improved demand [3]. - The aviation sector experienced a slight increase in flight operations, with an average of 14,612 flights per day, reflecting a 1.79% year-on-year growth. The report anticipates profit elasticity for airlines due to supply constraints and rising ticket prices [4]. - The shipping sector indicates a mixed performance, with container shipping rates showing a slight increase, while dry bulk shipping rates have decreased. The report highlights the impact of geopolitical events on oil tanker operations [5]. - The road and rail sector shows stable performance, with highway freight traffic increasing by 2.02% week-on-week, and the Daqin Railway reported a 1.75% increase in freight volume [6][89]. Summary by Sections 1. Market Review - The transportation index rose by 1.3% during the week of December 20-26, underperforming the Shanghai Composite Index, which increased by 1.9%. The logistics sector had the highest gain at 5.5%, while the aviation sector saw a decline of 0.7% [1][13]. 2. Industry Fundamentals Tracking 2.1 Shipping and Ports - The report notes a slowdown in container shipping declines, with support from seasonal demand and long-term contracts. However, it warns of potential downward pressure on rates in January due to increased capacity [24]. - The export container shipping index (CCFI) was reported at 1,146.67 points, up 2.0% week-on-week but down 24.3% year-on-year [25]. 2.2 Aviation and Airports - The civil aviation sector saw a total passenger volume of 60.17 million in November, a 6% increase year-on-year, with domestic routes growing by 5% and international routes by 19% [58]. - The report highlights that airlines are expected to see significant profit increases in Q4 due to high load factors and rising ticket prices [58]. 2.3 Rail and Road - The report indicates that national railway passenger volume reached 331 million in November, a year-on-year increase of 8.94%, while freight volume was 460 million tons, up 1.16% [83]. - The highway freight traffic showed a slight increase, with a total of 55.44 million trucks passing through highways during the week of December 16-21 [89].

Core Insights - A national-level technological achievement has been officially released, breaking the long-standing foreign monopoly and marking a significant step in the development of the low-altitude economy in the Guangdong-Hong Kong-Macao Greater Bay Area [1][21] - The conference highlighted the importance of mathematics and algorithms as foundational elements for advancing the low-altitude economy, emphasizing the need for collaboration among industry, academia, and research institutions [7][12] Group 1: Technological Breakthroughs - The "Flight Planning" project, led by Yao Zheng'an from Sun Yat-sen University, has achieved a major breakthrough in autonomous control of flight planning systems, which have been historically dominated by foreign companies [4][6] - The project introduced a "global four-dimensional flight route map" model and efficient algorithms, outperforming existing foreign systems in data validation with multiple airlines [6][12] - This achievement has led to the establishment of China's first set of group standards for civil aviation route planning, filling a gap in the industry and granting China the ability to set rules and standards [6][12] Group 2: Industry Challenges and Opportunities - The low-altitude economy faces numerous challenges, including dynamic airspace resource scheduling, flight vehicle coordination, and extreme weather response, all of which require complex system optimization [7][12] - Industry representatives discussed the need for government and enterprise collaboration to address regulatory hurdles and operational challenges in low-altitude operations, such as qualification approvals and airspace coordination [18][19] - The potential for commercial applications in agriculture and emergency services was highlighted, with suggestions for starting in less controversial areas to ease market entry [18][19] Group 3: Collaborative Frameworks - The establishment of the "Greater Bay Area Intelligent Low-altitude Economy Research Association" aims to create a closed-loop development model focusing on mathematics, algorithms, standards, and applications [21][23] - The conference emphasized the importance of integrating education, research, and industry to foster innovation and create a robust talent pipeline for the low-altitude economy [23] - Various universities in the Greater Bay Area are collaborating to develop specialized programs and research initiatives that support the low-altitude economy, emphasizing the need for interdisciplinary approaches [15][16][23]