（文章来源：新华财经） 新华财经上海11月14日电国际航协消息，中国东方航空公司宣布加入国际航协航班计划数据交互项目 （SDEP）。至此，该计划已涵盖中国四大航空公司——中国国际航空公司、中国东方航空公司、中国 南方航空公司和海南航空公司，标志着该计划在中国市场的推进迈出了重要一步。随着中国四大航空公 司加入航班计划数据交互项目，该项目目前涵盖了中国民航75%以上的运力。 ...

2025年11月11日，由中国东方航空与复旦大学联合主办、环球网提供媒体支持的"从上海到世界：中外 视角共探全球城市文化赋能新路径"活动成功举行。活动汇聚了亚非欧拉四大洲的智慧与声音，来自中 国、新加坡、印度尼西亚、喀麦隆、德国、塞尔维亚、巴西等国约20位学界专家、业界领袖与媒体代 表，通过专题研讨与沉浸式文化参访，共同探索全球城市文化发展的创新路径与实践方案。 来源：环球网 会上，复旦大学党委常委、宣传部部长方明和中国东航新闻发言人、品牌管理部总经理刘晓东、环球网 总经理单成彪出席大会并致辞。整场大会围绕"跨界视角"和"多国视角"展开，与会嘉宾聚焦上海样本探 讨"城市文化赋能"的多元路径，共同为如何让上海故事更好地融入全球叙事建言献策。 跨界赋能：上海融入世界文明交流的发展机遇、理论与实践 在主旨演讲环节，学界、业界代表分别从"国际关系与国际传播""航空+文旅""世界中国学"和"科技考 古"等角度，提出对城市文化赋能的前沿思考。 多国共话：上海作为实践样本的产业解读、传播观察与美学叙事 复旦大学国际关系与公共事务学院教授张骥指出，全球城市和企业需要在中国参与全球秩序的构建中重 新定位自身角色和发展空间。一方 ...

人民财讯11月14日电，记者今日从国际航协获悉，中国东方航空公司宣布加入国际航协航班计划数据交 互项目(SDEP)。至此，该计划已涵盖中国四大航空公司——中国国际航空公司、中国东方航空公司、 中国南方航空（600029）公司和海南航空公司，标志着该计划在中国市场的推进迈出了重要一步。随着 中国四大航空公司加入航班计划数据交互项目，该项目目前涵盖了中国民航75%以上的运力。 ...

Core Insights - The report highlights a potential rotation in consumer styles, driven by a recovery in CPI and favorable profit-valuation comparisons, suggesting that consumer sectors may experience a rebound [6][2][7] Company Summaries 1. China Eastern Airlines (600115.SH) - Notable inclusion in the November stock selection list, indicating positive sentiment towards the airline sector [1] 2. Baijiu Industry - The baijiu industry is experiencing a significant decline, with revenue and net profit growth rates of -5.8% and -6.9% respectively for the first three quarters of 2025. The third quarter saw a sharper decline with revenue and net profit growth rates of -18.5% and -22.1% respectively. The industry is transitioning from "over-competition" to "orderly competition" as companies reduce channel expenses to stabilize prices [8][7] 3. Baijun Medical (佰仁医疗) - The company reported a revenue of 382 million yuan for the first three quarters of 2025, a year-on-year increase of 30.58%. The net profit attributable to shareholders was 93 million yuan, up 57.93%. The third quarter alone saw a revenue of 134 million yuan, a 31.54% increase year-on-year, although net profit decreased by 9.39% [3][11][12] 4. Food and Beverage Sector - The food and beverage industry is expected to recover due to policies aimed at boosting consumer spending and improving macroeconomic data. The report notes that the core CPI has shown signs of recovery, with September and October figures at 1.0% and 1.2% respectively, indicating a positive trend in consumer prices [7][2][6] 5. Frozen Food and Beer Sectors - The frozen food sector is closely linked to the restaurant industry, with leading companies showing significant recovery as they adapt to market changes. The beer sector, while still facing challenges, is expected to benefit from the recovery in restaurant consumption in 2026 [9][8] 6. Consumer Spending - The report emphasizes that improving consumer spending is a key goal in the "14th Five-Year Plan," with a focus on enhancing domestic demand as a primary driver of economic growth. The contribution of final consumption expenditure to GDP growth has been higher than that of capital formation in recent years [7][6] 7. Research and Development in Baijun Medical - Baijun Medical has increased its R&D investment, with 118 million yuan spent in the first three quarters, accounting for 30.81% of its revenue. The company has several products in the approval process, which are expected to contribute to future growth [13][12][11]

Investment Rating - The report maintains a positive outlook on cyclical sectors, indicating that quality dividend stocks still have upward potential [1]. Core Insights - The transportation industry showed stable performance in the first three quarters of 2025, with infrastructure sector key stocks meeting expectations, shipping stocks recovering, and express delivery volumes and prices increasing due to anti-involution policies [1][7]. - The report emphasizes the importance of monitoring cyclical sector fundamentals and highlights the potential for further gains in quality dividend stocks [1][7]. Summary by Sections Overview of the Transportation Sector - The overall performance of the transportation industry from the beginning of 2025 to November 10 showed an increase of 8.5%, underperforming compared to the Shanghai and Shenzhen 300 index, which rose by 31.6% [11]. - The logistics sector benefited from anti-involution policies, while infrastructure sectors like highways and railways experienced declines [11]. Highway Sector - In the first three quarters of 2025, highway passenger transport decreased by 2.6% year-on-year, while freight transport increased by 4.1% [16]. - The performance of listed companies varied, with some showing stable toll revenue while others faced declines due to network adjustments and acquisitions [16][17]. Port Sector - National port cargo throughput reached 1.357 billion tons, a year-on-year increase of 4.6%, with container throughput growing by 6.3% [18]. - Key companies like China Merchants Port and Qingdao Port maintained stable performance, while Tangshan Port showed significant recovery in Q3 [18][19]. Railway Sector - Railway passenger volume grew by 6% year-on-year, while freight volume increased by 2.8% [22]. - The report anticipates continued growth in passenger transport, driven by new projects, although freight transport may face challenges due to economic conditions [22]. Shipping Sector - The shipping sector experienced a decline in container shipping rates in the first three quarters, but Q3 showed signs of recovery [25]. - The report forecasts improved performance for oil tanker companies in Q4 and 2026 due to favorable market conditions [28]. Express Delivery Sector - The express delivery industry saw a 17.2% increase in business volume in the first three quarters, although average prices fell by 7.1% [30]. - The report predicts a return to price increases in Q4, driven by anti-involution policies, with overall profitability expected to improve [31]. Logistics Supply Chain Sector - Cross-border air transport demand remained resilient, with a 6.4% year-on-year increase in cross-border e-commerce imports and exports [32]. - The report suggests that contract logistics volumes are expected to stabilize as economic conditions improve [33]. Aviation Sector - The aviation industry reported a 9.1% year-on-year increase in passenger turnover, with domestic routes showing a 4.2% increase [35]. - The report anticipates a significant reduction in losses for the industry in Q4, with a potential for profit recovery in 2026 [36]. Airport Sector - The airport sector experienced a 4.4% year-on-year increase in passenger throughput, with significant growth in international travel [38]. - The report highlights the ongoing recovery in airport operations and profitability due to increased passenger volumes and improved cost management [38].

Core Insights - The appreciation of the Renminbi has led to a 1.03% increase in the benefiting sectors compared to the previous trading day, with ST Chenming leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Sector Performance - ST Chenming (000488) closed at 2.25, with a gain of 5.14% and a trading volume of 578,700 shares, amounting to a transaction value of 129 million [1] - Tongling Nonferrous Metals (000630) closed at 5.40, up 3.65%, with a trading volume of 3,796,000 shares and a transaction value of 204.5 million [1] - Shanying International (600567) closed at 1.86, gaining 2.76%, with a trading volume of 2,988,000 shares and a transaction value of 550 million [1] - China National Duty-Free (601888) closed at 90.52, up 1.47%, with a trading volume of 854,000 shares and a transaction value of 7.624 billion [1] Capital Flow - The net inflow of main funds in the Renminbi appreciation benefiting sector was 41.75 million, while retail funds saw a net inflow of 64.44 million [2] - The net outflow of speculative funds was 106 million [2] Individual Stock Capital Flow - Tongling Nonferrous Metals (000630) had a main fund net inflow of 1.29 billion, but speculative and retail funds saw net outflows of 55.30 million and 73.20 million respectively [3] - China National Duty-Free (601888) experienced a main fund net inflow of 64.16 million, while retail funds had a net outflow of 103 million [3] - ST Chenming (000488) had a significant main fund net inflow of 38.29 million, but both speculative and retail funds experienced net outflows [3]

Core Viewpoint - The aviation and airport sector experienced a rise of 1.24% on November 13, with Huaxia Airlines leading the gains, while the overall market indices also showed positive performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4029.5, up 0.73%, and the Shenzhen Component Index closed at 13476.52, up 1.78% [1]. - Key stocks in the aviation and airport sector showed varying degrees of increase, with Huaxia Airlines rising by 3.19% to a closing price of 12.30 [1]. Group 2: Stock Performance - The following stocks in the aviation and airport sector had notable performances: - Huaxia Airlines: 12.30, +3.19%, volume 287,000 [1] - Xiamen Airport: 17.22, +2.32%, volume 141,500 [1] - Shanghai Airport: 34.55, +1.74%, volume 264,200 [1] - Spring Airlines: 59.82, +1.54%, volume 55,700 [1] - China National Aviation: 8.85, +1.26%, volume 560,500 [1] - Baiyun Airport: 10.33, +1.18%, volume 250,100 [1] - China Eastern Airlines: 5.32, +1.14%, volume 1,091,200 [1] - Southern Airlines: 7.32, +1.10%, volume 456,700 [1] - HNA Holding: 1.87, +1.08%, volume 7,282,400 [1] - Juneyao Airlines: 14.75, +0.55%, volume 216,000 [1]. Group 3: Capital Flow - The aviation and airport sector saw a net outflow of 46.93 million yuan from institutional investors and a net outflow of 104 million yuan from speculative funds, while retail investors contributed a net inflow of 151 million yuan [2]. - Detailed capital flow for specific stocks indicated that: - China Eastern Airlines had a net inflow of 62.69 million yuan from institutional investors [3]. - HNA Holding experienced a net outflow of 31.68 million yuan from speculative funds [3]. - Retail investors showed a net inflow of 22.73 million yuan into Juneyao Airlines [3].

Core Points - Eastern Airlines has launched the "MU Cabin Steward" APP, which includes an electronic handover module for lost items, aimed at improving the efficiency and accuracy of the item recovery process [1] Group 1: Digital Transformation - The traditional process for handling lost items relied on paper documents, which posed risks of miscommunication and errors during handover [1] - The new electronic handover module was developed collaboratively by the cabin service department, ground service department, and Eastern Airlines Digital Science [1] - The module enables real-time input of lost item information by cabin crew through the MU Cabin Steward APP, enhancing transparency and efficiency in information flow [1] Group 2: Process Improvement - The module features a visual workflow that allows for comprehensive tracking and management across departments, significantly reducing the response time for item handover [1] - Ground service personnel can receive and initiate processing of lost items promptly via the Eastern Airlines APP [1] - The system incorporates automatic flight information integration and intelligent verification technology, creating a digital closed-loop management process for the registration, transfer, and claim of lost items [1]

这一活动是为东方万里行会员开启挑战月活动，前100名达成"报名序位+出行履约"双重条件的会员，可 由东航常旅客系统自动、精准地发放活动专属的积分奖励。 东航数科为大赛开发的系统，实现会员自主报名队列的实时处理，当报名人数达到预设阈值时，模块将 自动激活当月挑战活动。在挑战周期内，模块实时追踪所有报名会员的飞行航段数据，智能筛选达标用 户群体；同时，依托强大的实时计算能力，实现竞赛排名机制的自动化校验、实时化处理与公平化结 算，并实现"任务完成即兑现"的自动化奖励发放。（编辑：张彤 校对：张薇 审核：韩磊） 《中国民航报》、中国民航网 记者钱擘 通讯员周思佚、王兆欣 报道：近日，东航正式推出"攀顶1%大 奖赛"创新营销活动。该活动依托东航常旅客系统，构建新模块打造全新互动平台，标志着东航在业务 敏捷营销与深化用户精细化运营方面迈出关键一步。 ...

Core Viewpoint - China Eastern Airlines is convening its third extraordinary general meeting of shareholders in 2025 on December 2, 2025, to discuss various matters related to the company [1]. Group 1: Meeting Details - The meeting will be held on December 2, 2025, at 14:00 in the Eastern Airlines Hotel, located at 99 Konggang San Road, Changning District, Shanghai [2]. - Voting will be conducted through a combination of on-site and online methods, utilizing the Shanghai Stock Exchange's shareholder meeting online voting system [2][5]. - The online voting period is set for December 2, 2025, with specific time slots for trading system voting and internet platform voting [2]. Group 2: Voting Procedures - Shareholders involved in margin trading, transfer financing, and other related accounts must follow the regulations outlined in the Shanghai Stock Exchange's self-regulatory guidelines [3]. - There will be no solicitation of shareholder voting rights for this meeting [4]. - Shareholders can vote through the Shanghai Stock Exchange's online voting system, either via the trading system or the internet platform, with identity verification required for first-time users [6][7]. Group 3: Attendance and Registration - Only shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the close of trading on the record date are eligible to attend the meeting [9]. - Shareholders must register for the meeting by providing identification and shareholder account information, with registration open from November 27 to December 1, 2025 [12][12]. - The company will provide a reminder service for small and medium-sized investors to ensure they can participate in the meeting [7].