格隆汇10月10日丨东航物流(601156.SH)上公布，因自身资金规划安排，股东天津睿远拟自本公告之日 起15个交易日后的3个月内，通过集中竞价交易减持不超过1587.56万股，减持比例不超过1%。具体减 持价格将按市场价格确定。 ...

Core Viewpoint - Eastern Airlines Logistics (601156.SH) announced that its shareholder, Tianjin Ruiyuan Enterprise Management Partnership (Limited Partnership), plans to reduce its holdings by up to 15,875,556 shares, representing a maximum reduction of 1% within three months after 15 trading days from the announcement date [1] Summary by Category - **Shareholder Action** - Tianjin Ruiyuan Enterprise Management Partnership intends to reduce its stake in Eastern Airlines Logistics through centralized bidding transactions [1] - The planned reduction is capped at 15,875,556 shares, which is equivalent to a maximum of 1% of the total shares [1]

东航物流公告，截至本公告披露日，股东天津睿远企业管理合伙企业（有限合伙）持有公司9996.76万 股，占6.30%；因自身资金规划安排，天津睿远计划自本公告披露之日起15个交易日后的3个月内，即 2025年11月3日～2026年2月2日期间，通过集中竞价减持不超过1587.56万股，减持比例不超过1%，拟 减持股份来源为IPO前取得。 ...

Core Viewpoint - Eastern Airlines Logistics has shown a mixed performance in terms of stock trading and financial metrics, with notable activity in margin trading and a slight decline in revenue while maintaining profit growth [1][2]. Group 1: Stock Performance - On October 9, Eastern Airlines Logistics' stock rose by 0.51%, with a trading volume of 215 million yuan [1]. - The margin trading data indicates a net purchase of 25.44 million yuan on the same day, with a total margin balance of 1.159 billion yuan, representing 7.74% of the circulating market value [1]. - The margin balance is at a high level, exceeding the 90th percentile of the past year [1]. Group 2: Financial Metrics - For the first half of 2025, Eastern Airlines Logistics reported a revenue of 11.256 billion yuan, a slight decrease of 0.26% year-on-year, while the net profit attributable to shareholders increased by 0.90% to 1.289 billion yuan [2]. - Cumulative cash dividends since the company's A-share listing amount to 2.726 billion yuan, with 1.630 billion yuan distributed over the past three years [2]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders increased to 53,900, while the average circulating shares per person decreased by 2.27% to 17,532 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 17.0624 million shares, an increase of 1.3299 million shares from the previous period [2].

Core Insights - Eastern Airlines Logistics has implemented a specialized air freight solution to ensure the freshness of Yangcheng Lake hairy crabs delivered to the Guangdong-Hong Kong-Macao Greater Bay Area, utilizing a dedicated cargo flight CK5067 to transport 41 tons of crabs [1][6] Group 1: Transportation and Logistics - The newly established Kunshan air freight station, the first of its kind in the country, significantly enhances the efficiency of crab transportation by reducing transfer time from the pond to the airport [2] - A dedicated team from Eastern Airlines Transportation Company has been assigned to ensure the safe and efficient ground transport of crabs, employing special binding methods to prevent damage during transit [2][5] - The use of a dedicated Boeing 777-200F freighter for crab transport this year, as opposed to previous years' passenger aircraft, creates an optimal environment for preserving the crabs' freshness [5] Group 2: Supply Chain and Market Impact - The transportation initiative not only broadens the sales channels for Yangcheng Lake hairy crabs but also meets the consumer demand in the Greater Bay Area during the dual festival season [6] - The logistics strategy includes a "three-priority" approach—priority collection, inspection, and loading—to expedite the handling of crabs at the cargo station [5] - The efficient supply chain established allows for rapid delivery from the airport to major supermarkets and e-commerce warehouses in Shenzhen, as well as extending to cities like Guangzhou and Dongguan [5][6]

Core Viewpoints - The shipping industry is experiencing high volatility in crude oil freight rates while container shipping rates on long-distance routes are declining [3] - The first hybrid tilt-rotor unmanned aerial vehicle (eVTOL) model has been accepted for application by the Southwest Civil Aviation Administration, and a collaboration between Saudi Arabia and Ehang is set to launch autonomous flying vehicles and air taxi services [3] - China's first national standard for logistics enterprise digitization has been officially released, and the "parallel port" logistics model has achieved a throughput of over 76,000 tons in its first year of operation [3] Shipping Industry - As of September 25, the China Import Crude Oil Comprehensive Index (CTFI) was reported at 1908.03 points, a decrease of 3.4% from September 18 [3] - The VLCC market in the Middle East is seeing a slowdown in cargo availability, while the Atlantic and Gulf routes remain relatively calm [3] - The shipping rates from Shanghai to Europe and the U.S. have decreased, with rates to Europe at $971/TEU (down 7.7%) and to the U.S. West and East coasts at $1460/FEU (down 10.8%) and $2385/FEU (down 6.7%) respectively [3] Aviation Industry - The first hybrid tilt-rotor eVTOL model application has been accepted, marking a significant milestone in China's aviation sector [3] - Saudi Arabia's Front End and Cluster2Airports are collaborating with Ehang to introduce autonomous flying vehicles and air taxi services [3] Logistics and New Transportation Models - The national standard for logistics enterprise digitization was released on September 26, focusing on general requirements [3] - The "parallel port" logistics model has been operational for one year, achieving a throughput of 76.61 million tons and 37,000 standard containers [3] Investment Recommendations - Companies in the equipment and manufacturing export chain are recommended for attention, including COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [6] - Opportunities related to the construction of hydropower stations in the Yarlung Tsangpo River downstream are highlighted, with a focus on Sichuan Chengyu, Chongqing Port, and Fulmin Transportation [6] - The low-altitude economy and highway-railway sectors are also suggested for investment, with specific companies recommended for consideration [7]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - Crude oil freight rates are fluctuating at high levels while container shipping rates on long-distance routes are declining [3][14] - The first hybrid tilt-rotor unmanned aerial vehicle (eVTOL) model has been accepted for certification by the Southwest Regional Administration of Civil Aviation of China, and a collaboration between Saudi Arabia and Ehang is planned to launch autonomous aerial vehicles and air taxi services [3][16] - China's first national standard for logistics enterprise digitization has been officially released, and the "Parallel Port" logistics model has achieved a cargo throughput of over 760,000 tons in its first year of operation [3][24] Summary by Sections 1. Industry Hot Events - Crude oil freight rates are experiencing high volatility, with the China Import Crude Oil Composite Index (CTFI) reported at 1908.03 points, down 3.4% from September 18 [3][14] - Container shipping rates are declining, with the Shanghai port export rate to Europe at $971/TEU, down 7.7%, and to the US West and East coasts at $1460/FEU and $2385/FEU, down 10.8% and 6.7% respectively [3][15] - The DF600 unmanned aerial vehicle has received certification acceptance, marking a significant step in the eVTOL sector [3][16] - The "Parallel Port" logistics model has successfully handled 760,000 tons of cargo, significantly improving logistics efficiency [3][25] 2. Industry High-Frequency Data Tracking - Air cargo prices remain stable, with the Shanghai outbound air freight price index at 4516.00 points, down 6.6% year-on-year [4][26] - Domestic freight volumes for August 2025 increased by 12.29% year-on-year, with total express delivery volume reaching 16.15 billion pieces [4][50] - The shipping market shows a mixed trend, with the Baltic Dry Index (BDI) at 2259 points, up 2.54% week-on-week [4][44] 3. Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [5] - Attention to the transportation demand increase driven by hydropower station construction in the Yarlung Tsangpo River downstream area, recommending Sichuan Chengyu, Chongqing Port, and Fulimin Transportation [5] - Opportunities in the low-altitude economy sector, recommending CITIC Offshore Helicopter [5] - Investment opportunities in the highway and railway sectors, recommending Gansu Guangdong Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - The cruise and water ferry sector is highlighted, recommending Bohai Ferry and Straits Shares [5] - E-commerce and express delivery investment opportunities are recommended, including SF Express, Jitu Express, and Yunda Shares [5] - Opportunities in the aviation sector, recommending China National Aviation, Southern Airlines, Spring Airlines, and others [5]

Core Viewpoint - The 20th China International Logistics Festival and the 22nd China International Transportation and Logistics Expo were recently held in Jinan, where Eastern Airlines Logistics was awarded the 2025 "Golden Pegasus" Logistics Brand Value TOP 100 award [1] Group 1: Event Overview - The logistics festival had a theme of "Building International Logistics Corridors and Opening New Blue Oceans for Global Trade" [1] - The exhibition area exceeded 30,000 square meters and featured over 300 quality exhibitors [1] Group 2: Company Highlights - Eastern Airlines Logistics showcased its breakthroughs and achievements in various fields such as air transportation, ground operations, cold chain logistics, and warehousing services [1] - The company employed immersive scenarios and professional explanations to attract numerous clients for discussions, with several enterprises expressing willingness to cooperate on-site [1] Group 3: Strategic Initiatives - In recent years, Eastern Airlines Logistics has been enhancing its core competitiveness through strategies such as market expansion, new route openings, partnerships with foreign airlines, and optimizing its air network [1]

《中国民航报》、中国民航网 记者钱擘 报道：近日，2025中国国际水果展与第19届上海国际渔业博览 会在上海新国际博览中心同期举办。作为冷链供应链服务集成商，东航物流旗下东航冷链携全产业链冷 链服务解决方案亮相展会。 深耕进口果蔬和海鲜产品十余载，东航冷链始终致力于构建安全、高效、透明、智能的全球温敏产品快 供应链体系，方便中国消费者"不出国门、消费全球"。未来，东航冷链还将持续深化围绕国产医药和高 品质农产品出海、生鲜产品深加工的升级转型，携手更多合作伙伴共建高品质产品供应链。（编辑：王 亚玲 校对：金杰妮 审核：韩磊） 在渔业博览会现场，东航冷链重点展示了挪威冰鲜三文鱼、俄罗斯帝王蟹、加拿大龙虾等高端海产品的 供应链解决方案。依托东航通达全球、且在国内高密度覆盖的航线网络，东航冷链为客户提供从原产地 到终端渠道的全流程高效服务，同时，借助自主研发的"东东测"、航空吸水托盘、移动深海模拟仓等技 术，东航冷链有效解决了传统冷链运输中"信息断链、温度断链、监控断链"的行业痛点，上述成果在展 会上吸引了众多海内外采购商驻足咨询，多家企业现场表达了对"产地直达"合作模式的合作意向。 在中国国际水果展上，东航冷链以" ...

26日，承运着第八届中国国际进口博览会首票展品的东航物流所属中货航CK216航班，从德国法兰克福 飞抵上海浦东国际机场。航班搭载的高价值进博展品总重近360公斤，在顺利驳运至机坪货站后高效完 成通关。（记者狄春） ...