近段时间，飞机"锁座"以及有偿选座服务引发广泛热议，不少消费者反映，在线选座时，经济舱前排、靠窗、靠过道等较为便利、舒适的座位常被单独锁 定，要想选择则需要额外付费。对此，消费者是怎么看的呢？ 记者在采访中发现，不少消费者都遭遇过飞机"锁座"的情况。张女士告诉记者，如果没有足够的积分，要想兑换心仪的座位就需要花钱购买积分，对此，张 女士算了一笔账。 消费者 张女士：我在它的App上看到，它显示的是10个积分两块钱。按照这个兑换，第一排需要2000积分，换算下来需要额外加400元，对于我来说是不公 平的。我既然购买了经济舱机票，我应该拥有去选择座位的权利。 江苏省消保委已对10家航司展开调查 针对旅客反映航班"锁座"的问题，江苏省消费者权益保护委员会选取了国内10家航空公司进行调查，包括南方航空、中国国航、海南航空、厦门航空、深圳 航空、山东航空、四川航空、东方航空、春秋航空、吉祥航空，并于近日（11月26日）公布了调查结果。 此次调查通过实际购票体验等方式，重点核查这10家航空公司在经济舱的锁座比例、锁座范围、兑换模式等内容，结果发现，这10家航空公司的经济舱均存 在锁座行为，购票阶段锁座比例介于19.9%到 ...

后续，航科院将联合多方技术团队，聚焦GLS的深度应用与融合创新，加快技术成果的转化与推广步 伐。 本次试飞采用我国自主研发并获适航认证的国产地面导航设备，飞行程序由中国民航科学技术研究院独 立设计，实地验证飞行则由中国国际航空公司专业团队执行。从设备、程序到验证飞行，全环节均依托 国内专业技术力量完成，是我国在RNP AR衔接GLS精密进近技术领域拥有完全自主知识产权的集中体 现。 拉萨贡嘎机场地处海拔3500米以上的高高原地区，地形复杂、气象条件多变，长期以来对航班运行安全 和准点率构成严峻挑战。此次成功验证的GLS程序，深度融合了RNP AR路径灵活性与GLS高精度水平 及垂直引导能力，有效突破了传统导航手段在复杂地形与恶劣天气下的局限，首次实现拉萨机场双向精 密进近。这意味着即便在低能见度等不利气象条件下，航班仍可安全、高效地执行精密进近与着陆，显 著提升运行安全裕度与航班正常性。 本次试飞成功，充分验证了GBAS程序及GLS与RNP AR技术融合运行的安全性与可操作性，为我国民 航后续推进GBAS技术应用，以及高高原机场GLS与RNP AR导航技术组合，提供了完整的实践方案与 经验。项目的成功实施，体 ...

Core Insights - The appreciation of the Renminbi has led to a significant increase in the related sectors, with a 2.61% rise compared to the previous trading day, and China Duty Free Group (中国中免) leading the gains [1] Market Performance - The Shanghai Composite Index closed at 3914.01, up 0.65% - The Shenzhen Component Index closed at 13146.72, up 1.25% [1] Top Gainers in Renminbi Appreciation Beneficiary Sector - China Duty Free Group (601888) closed at 84.46, up 6.87%, with a trading volume of 736,300 shares and a turnover of 6.094 billion yuan - Tongling Nonferrous Metals (000630) closed at 5.42, up 6.27%, with a trading volume of 4,738,300 shares and a turnover of 2.57 billion yuan - Air China (601111) closed at 8.46, up 5.35%, with a trading volume of 1,095,600 shares and a turnover of 904 million yuan [1] Capital Flow Analysis - The Renminbi appreciation beneficiary sector saw a net inflow of 312 million yuan from institutional investors, while retail investors experienced a net outflow of 494 million yuan [2] - The top stocks in terms of capital flow included: - China Duty Free Group with a net inflow of 3.44 billion yuan from institutional investors - Tongling Nonferrous Metals with a net inflow of 79.34 million yuan from institutional investors [3]

证券之星消息，12月1日航空机场板块较上一交易日上涨2.31%，中国国航领涨。当日上证指数报收于 3914.01，上涨0.65%。深证成指报收于13146.72，上涨1.25%。航空机场板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000099 | 中信海直 | 2756.93万 | 11.80% | -2113.64万 | -9.04% | -643.29万 | -2.75% | | 600004 | 白云机场 | 2219.52万 | 14.25% | 1343.56万 | 8.62% | -3563.08万 | -22.87% | | 601111 | 中国国航 | 1863.18万 | 2.06% | -4011.04万 | -4.44% | 2147.86万 | 2.38% | | 603885 | 吉祥航空 | 1360.84万 | 3.91% | 2080.02万 | 5.98 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 FF301 致：香港交易及結算所有限公司 公司名稱: 中國國際航空股份有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 H | | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00753 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,955,610,672 | RMB | | | 1 RMB | | 4,955,610,672 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,955,610,672 | RMB | | | 1 RMB | | 4,955,610,672 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國國際航空股份有限公司 呈交日期: 2025年12月1日 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00753 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 4,955,610,672 | | 0 | | 4,955,610,672 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 4,955,610,672 | | 0 | | 4,955,610,672 | | 2. 股份分類 | 普通股 | 股份類別 | A | | ...

国泰海通证券发布研报称，日本线客流缩减航司转投，不改航空超级周期长逻辑。该行指出，2025第三 季度航司整体业绩在暑运公商需求走弱压力下实现逆势增长，预计2025第四季度行业将继续大幅减亏， 2025年将实现全年扭亏。中国航空将开启"超级周期"，考虑票价市场化，需求稳健增长与客源结构优化 将驱动2026年航司盈利中枢开启上升。 航空股再度走高，截至发稿，中国国航（601111）(00753)涨4.27%，报6.6港元；南方航空（600029） (01055)涨2.66%，报5.41港元；东方航空(00670)涨2.18%，报4.69港元；首都机场(00694)涨1.43%，报 2.84港元。 消息面上，据民航局数据，10月，我国民航运输规模增势良好，共完成运输总周转量146亿吨公里，国 际航线旅客运输量、货邮运输量同比增速均超过20%。客运方面，10月国内航线完成旅客运输量6084.5 万人次，同比增长4.4%；国际航线完成旅客运输量699万人次，同比增长20.4%。 ...

Group 1 - China International Airlines Co., Ltd. experienced a stock price increase of 5.23%, reaching 8.45 CNY per share, with a trading volume of 827 million CNY and a turnover rate of 0.86%, resulting in a total market capitalization of 147.439 billion CNY [1] - The company, established on March 27, 2006, and listed on August 18, 2006, primarily engages in air passenger transport (90.64% of revenue), with air cargo and postal services contributing 4.43% and other services 4.93% [1] Group 2 - Tianhong Fund has a significant holding in China International Airlines, with Tianhong Multi-Strategy One Year Fund (010257) reducing its stake by 35,000 shares to hold 99,600 shares, representing 1.52% of the fund's net value, ranking as the tenth largest holding [2] - The Tianhong Multi-Strategy One Year Fund was established on November 18, 2020, with a current size of 516.762 million CNY, yielding a return of 2.41% this year, ranking 7412 out of 8199 in its category, and a one-year return of 3.76%, ranking 7226 out of 8131 [2]

Group 1 - The tourism sector stocks have shown strong performance, with China Duty Free Group rising over 6%, and Songcheng Performance, China Southern Airlines, and Air China each increasing by over 2% [1] - The tourism ETF, which tracks the CSI Tourism Theme Index, has also risen by more than 2% due to market influences [1] Group 2 - The CSI Tourism Theme Index includes no more than 50 listed companies involved in various aspects of the tourism industry, such as accommodation, sightseeing, shopping, entertainment, and travel services, reflecting the overall performance of tourism-related stocks [2] - From a supply perspective, all segments of the tourism industry, including scenic spots, hotels, travel agencies, and retail, are experiencing a comprehensive recovery [2] - The government continues to implement policies to support the tourism industry, focusing on regulating industry development, enhancing the supply of quality tourism products and services, optimizing infrastructure investment, improving transportation services, and broadening financing channels [2] - The upcoming New Year and extended Spring Festival holidays, along with the rising popularity of winter tourism and the introduction of duty-free and visa-free policies, have significantly boosted interest in the tourism sector recently [2]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The report highlights an upward trend in crude oil freight rates, with the China Import Crude Oil Index (CTFI) reaching 2520.07 points, an increase of 8.4% from November 20 [3][13] - The postal industry revenue surpassed the telecommunications industry for the first time in history, reaching 1.47 trillion yuan, compared to 1.467 trillion yuan for telecommunications [3][24] - The civil aviation sector showed growth in both passenger and cargo transport volumes in October, with international routes performing particularly well [3][17] Summary by Sections Industry Hot Events - Crude oil freight rates are rising, with the Middle East route seeing a 10.76% increase in rates [13] - Qifly Aviation signed a procurement agreement for 105 eVTOL aircraft with three companies in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on low-altitude logistics [15][16] - The postal industry revenue for January to October 2025 reached 1.47 trillion yuan, marking a significant milestone [24][25] High-Frequency Data Tracking - The Baltic Air Freight Price Index decreased month-on-month but increased year-on-year [26] - Domestic freight flights in October 2025 increased by 0.32% year-on-year, while international flights rose by 11.12% [32] - The express delivery business volume in October 2025 increased by 7.90% year-on-year, with total revenue reaching 131.67 billion yuan [50] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping and China Merchants Energy [5] - Attention to low-altitude economy investment opportunities, particularly in companies like CITIC Offshore Helicopter [5] - Consider investment opportunities in the express delivery sector, recommending SF Express and Jitu Express [5]