Investment Rating - The report maintains an "Overweight" rating for the transportation industry [2] Core Insights - The aviation sector is expected to benefit from the Spring Festival travel peak, leading to a positive outlook for airline stocks. The report highlights a significant increase in flight operations and passenger volumes during this period, indicating a recovery in demand [4][6] - The report emphasizes the potential for oil transportation to rise, driven by geopolitical factors and structural demand growth, suggesting a favorable investment environment in the shipping sector [6][7] Summary by Sections Investment Highlights - The report identifies key investment opportunities in the aviation sector, particularly focusing on major airlines and low-cost carriers that are expected to benefit from rising ticket prices and improved operational performance [4][6] - It also highlights the logistics and express delivery sectors, noting the positive earnings forecast for companies like SF Express, which is capitalizing on the growth of instant delivery services [6] Aviation Data Tracking - Daily flight operations from February 2 to February 6 showed significant increases for major airlines, with Eastern Airlines and Southern Airlines leading the growth [4] - The average aircraft utilization rates also improved, indicating a recovery in operational efficiency across the sector [4] Shipping Data Tracking - The report tracks various shipping indices, noting a mixed performance in container shipping but a positive trend in oil transportation indices, suggesting a potential upturn in the oil shipping market [6][7] - The report recommends focusing on companies in the oil shipping sector due to limited supply and structural demand growth [6][7] Logistics Data Tracking - The report provides data on logistics performance, indicating a substantial increase in express delivery volumes, which is expected to continue benefiting from the growth in e-commerce and instant delivery services [6] - It highlights the importance of addressing industry challenges such as competition and regulatory changes to maintain profitability [6] Company Performance Tracking - The report includes performance metrics for key companies in the aviation and logistics sectors, showcasing their earnings forecasts and operational improvements [4][6] - It emphasizes the strategic positioning of companies like Spring Airlines and China Eastern Airlines, which are expected to leverage their market positions for growth [4][6]

Core Viewpoint - The recent "express delivery suspension" trending on social media has caused public anxiety, prompting multiple express delivery companies to announce their service arrangements during the Spring Festival, ensuring continued collection and delivery services to meet holiday demand [1] Group 1: Company Responses - SF Express and Debon Express confirmed that they will not suspend operations during the Spring Festival, although transportation fees will be adjusted. SF Express will impose a resource adjustment fee from February 16 to February 23, with some areas experiencing a price increase of 10 yuan [4] - China Post Express Logistics stated that they will operate year-round but may implement additional charges for pickup services, with specific regulations to be announced later [5] - JD Logistics indicated that service availability may vary based on express delivery volume during the Spring Festival, with potential resource adjustment fees depending on the station [5] - YTO Express announced that from February 15 to February 23, they will ensure service continuity and network stability, with normal operations in most regions except for certain areas affected by third-party logistics suspensions or weather conditions [9] - Yunda Express confirmed normal operations during the Spring Festival, with potential delays of 2-3 days for intra-province and 4-5 days for inter-province deliveries [9] - Zhongtong Express stated they will reasonably ensure customer delivery needs and maintain smooth logistics support, with variations in service based on local conditions [9] - Shentong Express affirmed they will operate normally during the Spring Festival, with possible adjustments to service arrangements and fees based on local circumstances [9] Group 2: Service Impact and Adjustments - Express delivery companies warned that service efficiency may be affected by limited resource allocation and extreme weather conditions during the holiday period [8]

近日，"快递停运"冲上微博热搜，引发网友热议，不少人表示有点"焦虑"。 对此，多家快递企业相继发布春节期间服务安排， 宣布将继续提供收派服务，全力满足节日期间的寄递需 求。 圆通速递、申通快递、韵达快递客服均表示，春节期间快递不停，且未收到加价通知。 中国邮政速递物流客服表示，快递运送全年无休，但有可能会出现上门取件加价情况，具体规定需看后续通 知。 中通快递客服称，目前暂未接到停运通知。另外，正常情况下，春节期间不会收取资源调节费。 京东物流则回应，根据春节期间快递流量情况，部分站点可能会出现排班情况，且会产生资源调度费，具体需 以站点为准。 此外，顺丰速运、德邦快递客服均回复春节期间不停运，但运输费用会有调整。 盘中，大幅拉升！重大突破！量子科技，突传利好！ 利好来了！多只A股，突发公告！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 同时，快递企业提醒：因节日期间资源调配受限、极端天气变化等多重因素，快件时效或将受到不同程度影 响。 来源：央广网 责编：刘珺宇 校对：祝甜婷 百万用户都在看 重大信号！49万亿巨头，批量减持！ 刚刚！美国宣布：制裁！特朗普下令：加征关 ...

Core Viewpoint - The topic of "express delivery suspension" has gained significant attention on social media as the Chinese New Year approaches, leading to public anxiety and increased online orders [1][2]. Group 1: Company Responses - Multiple express delivery companies have responded to the concerns about potential service suspensions during the holiday period. Zhongtong Express stated that they have not received any notice of suspension and typically do not charge resource adjustment fees during the Spring Festival [4]. - YTO Express, Shentong Express, and Yunda Express confirmed that they will continue operations during the Spring Festival and have not received any notifications regarding price increases [4]. - China Post Express Logistics indicated that while they operate year-round, there may be additional charges for pick-up services, with specific regulations to be announced later [5]. Group 2: Pricing Adjustments - JD Logistics mentioned that depending on the delivery volume during the Spring Festival, some stations may implement scheduling changes and charge resource adjustment fees. Their announcement specified that from January 19, 2026, to February 23, 2026, a peak resource adjustment fee of 0.1 to 1.2 yuan/kg will be added to express heavy cargo products [6]. - SF Express and Debon Express also confirmed that they will not suspend operations during the holiday but will adjust transportation fees. SF Express announced a resource adjustment fee of 0.1 to 1.5 yuan/kg for certain products weighing 20kg or more from January 19 to February 15, 2026, and additional fees during the holiday period [7]. - Debon Express will charge a resource adjustment fee of 0.2 to 0.5 yuan/kg for certain customers and products from January 19 to February 14, 2026, with additional fees during the Spring Festival [7].

Core Viewpoint - The logistics and express delivery services in China will continue to operate during the Spring Festival period from February 15 to February 23, 2026, with various companies implementing specific measures to ensure service continuity and efficiency [1][2][3][4][5][6][7][8][9]. Group 1: Company Arrangements - China Post will provide delivery services during the Spring Festival, with options for online booking and potential delays due to holiday factors [1]. - JD Logistics will ensure logistics safety and efficient delivery for popular products, with all "Asia No. 1" smart industrial parks operating around the clock [2]. - Zhongtong Express will maintain uninterrupted service during the Spring Festival, with staff arrangements based on business needs [3]. - SF Express has prepared for potential delays due to resource allocation and weather, with dynamic adjustments to service fees [4]. - YTO Express will ensure smooth operations and network stability, with some areas experiencing service limitations due to third-party logistics or weather [5]. - Shentong Express will operate normally during the holiday, with possible adjustments based on local conditions [6]. - Yunda Express will maintain normal operations, with some areas facing delays of 2-5 days [7]. - Debang Express will adjust service fees dynamically during peak periods to meet delivery demands [8]. - Best Express will suspend operations from February 11 to February 23, 2026, with potential delays in delivery times [9]. Group 2: Service Fees and Adjustments - JD Logistics will charge a resource adjustment fee of 0.1-1.2 yuan/kg for express heavy goods during the holiday period [2]. - SF Express will implement a resource adjustment fee of 0.1-1.5 yuan/kg for certain products before and during the Spring Festival [4]. - Debang Express will charge a fee of 0.2-0.5 yuan/kg for specific customers and products leading up to the holiday [8].

Core Viewpoint - The recent "express delivery suspension" topic has sparked significant discussion on social media, leading to public anxiety. However, multiple express delivery companies have announced their operational plans for the Spring Festival, confirming that they will continue to provide delivery services to meet holiday demand [1] Group 1: Company Responses - YTO Express, Shentong Express, and Yunda Express have confirmed that they will operate normally during the Spring Festival and have not received any notifications regarding price increases [1] - Zhongtong Express has stated that it has not received any suspension notices and will not impose additional charges during the Spring Festival [1] - JD Logistics indicated that there may be scheduling adjustments at some stations during the Spring Festival, which could incur resource adjustment fees [1] - SF Express and Debon Express have both confirmed that they will not suspend operations during the Spring Festival, although fees may be adjusted [1] - China Post Express Logistics has stated that it operates year-round but may implement additional charges for pickup services during the Spring Festival, with specific regulations to be announced later [1]

Core Viewpoint - The recent "express delivery suspension" topic has sparked significant discussion on social media, with many users expressing anxiety about potential service disruptions during the holiday season [1]. Group 1: Company Responses - Major express delivery companies, including YTO Express, Shentong Express, and Yunda Express, have confirmed that they will continue operations during the Spring Festival and have not received any notifications regarding price increases [3]. - China Post Express Logistics stated that while they will operate year-round, there may be additional charges for pickup services, subject to future notifications [3]. - ZTO Express has also indicated that they have not received any suspension notices and typically do not charge resource adjustment fees during the Spring Festival [3]. - JD Logistics mentioned that depending on the volume of deliveries during the holiday, some locations may experience scheduling changes and incur resource adjustment fees, which will vary by site [3]. Group 2: Service Arrangements and Challenges - Several express delivery companies have announced their service arrangements for the Spring Festival, committing to meet the delivery needs during the holiday period [4]. - SF Express and Debon Express have confirmed that they will not suspend operations during the holiday, although transportation costs may be adjusted [5]. - Companies have cautioned that due to limited resource allocation and potential extreme weather changes during the holiday, delivery times may be affected to varying degrees [7].

Group 1 - Multiple express delivery companies in China, including China Post, SF Express, JD Logistics, and Deppon Express, have announced their service arrangements for the Spring Festival, committing to meet the delivery demand during the holiday period [1] - These companies will actively allocate resources and manpower to ensure uninterrupted service during the Spring Festival [1] - However, they have also warned that delivery times may be affected due to limited resource allocation and extreme weather conditions during the holiday [1] Group 2 - On February 6, the topic of "express delivery suspension" trended on Weibo, but Zhongtong Express stated that they had not received any notice of suspension [3] - Other companies like YTO Express, Shentong Express, and Yunda Express confirmed that they would continue operations during the Spring Festival without any price increase notifications [3] - China Post Express Logistics mentioned that while they operate year-round, there may be additional charges for pick-up services, with specific regulations to be announced later [3] - JD Logistics indicated that some stations might experience scheduling changes and potential resource adjustment fees based on delivery volume during the holiday [3] - SF Express and Deppon Express also confirmed that they would not suspend operations, although transportation costs may be adjusted [3]

Group 1 - The topic of "express delivery suspension" has become a trending topic on Weibo, prompting inquiries about the actual situation [2] - Zhongtong Express has not received any notice of suspension, and typically does not charge resource adjustment fees during the Spring Festival [2] - YTO Express, Shentong Express, and Yunda Express have confirmed that they will continue operations during the Spring Festival without any price increase notifications [2] Group 2 - China Post Express Logistics stated that delivery services operate year-round, but there may be additional charges for pick-up services, subject to further notice [2] - JD Logistics indicated that some stations may experience scheduling changes during the Spring Festival based on delivery volume, which may incur resource adjustment fees [2] - SF Express and Debon Express confirmed they will not suspend operations during the Spring Festival, but transportation costs will be adjusted [2] Group 3 - SF Express announced that from January 19 to February 15, a resource adjustment fee of 0.1-1.5 yuan/kg will be charged for packages weighing 20kg or more, with additional fees during the Spring Festival [2] - Debon Express will charge a resource adjustment fee of 0.2-0.5 yuan/kg for certain customers and products from January 19 to February 14, and additional fees during the Spring Festival [2]

Core Viewpoint - The article discusses the current situation regarding the operation of express delivery services during the Chinese New Year, addressing rumors of service suspensions and potential price adjustments. Group 1: Service Operations - Zhongtong Express confirmed that there has been no notification of service suspension during the Chinese New Year [4] - YTO Express, Shentong Express, and Yunda Express also stated that they will continue operations during the holiday and have not received any price increase notifications [5] - China Post Express Logistics indicated that while services operate year-round, there may be additional charges for pick-up services, subject to further notice [6] Group 2: Pricing Adjustments - JD Logistics mentioned that depending on the volume of deliveries during the holiday, some locations may implement scheduling changes and resource adjustment fees, which will vary by site [8] - SF Express announced that from January 19 to February 15, they will charge a resource adjustment fee of 0.1-1.5 yuan per kg for packages over 20 kg, with additional fees during the holiday period [9] - Debon Express stated that from January 19 to February 14, they will impose a resource adjustment fee of 0.2-0.5 yuan per kg for certain customers and products, with similar fees during the holiday [9]