格隆汇11月28日丨中信海直(000099.SZ)在互动平台表示，公司在低空经济领域进行了战略布局，包括 低空交通物流、无人机应用、基础设施、低空消费等领域，重点在大型无人机、eVTOL运营方面构建 能力与市场优势。已成功运行翼龙2无人机开展省级航空应急项目，运行双尾蝎A无人机承担气象部门 人工影响天气任务，应用吨级eVTOL顺利完成深圳—海上石油平台、合肥—安庆两次陆海间、跨城间 货运试验航线首飞。 ...

格隆汇11月28日丨中信海直(000099.SZ)在互动平台表示，公司在低空经济领域进行了战略布局，包括 低空交通物流、无人机应用、基础设施、低空消费等领域，重点在大型无人机、eVTOL运营方面构建 能力与市场优势。已成功运行翼龙2无人机开展省级航空应急项目，运行双尾蝎A无人机承担气象部门 人工影响天气任务，应用吨级eVTOL顺利完成深圳—海上石油平台、合肥—安庆两次陆海间、跨城间 货运试验航线首飞。 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 6600000 | 中信海直 | 20.32 | -0.39% | 10.06万 | 2.04亿 | | 601111 | 中国国航 | 8.03 | -0.37% | 55.60万 | 4.46 Z | | 002928 | 华夏航空 | 10.11 | -0.30% | 15.16万 | 1.53亿 | | 600115 | 中国东航 | 5.04 | -0.20% | 1 63.93万 | 3.23亿 | | 600009 | 上海机场 | 31.66 | 0.06% | 6.78万 | 2.14亿 | | 601021 | 春秋航空 | 54.96 | 0.11% | 2.83万 | 1.55亿 | | 600029 | 南方航空 | 6.78 | 0.15% | 51.52万 | 3.50亿 | | 600004 | 白云机场 | 9.65 | 0.31% | 11.05万 | 1.06亿 | | 603885 | 吉祥航空 | + 12 ...

证券之星消息，11月25日航空机场板块较上一交易日下跌1.84%，华夏航空领跌。当日上证指数报收于 3870.02，上涨0.87%。深证成指报收于12777.31，上涨1.53%。航空机场板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600897 | 厦门空港 | 16.17 | 3.26% | 6.05万 | 9713.69万 | | 600221 | 海航控股 | 69T | 1.20% | 400.90万 | 6.75亿 | | 600009 | 上海机场 | 31.55 | 0.03% | - 14.33万 | 4.53亿 | | 000089 | 深圳机场 | 6.92 | -0.14% | 17.13万 | 1.19亿 | | 600004 | 白云机场 | 9.60 | -0.31% | 16.52万 | 1.59亿 | | 000099 | 中信海直 | 20.35 | -0.54% | 8.70万 | 1.78亿 | | 601021 | 春秋航空 | ...

（文/观察者网 张志峰） 一面是低空经济产业以腾飞姿态频频见诸报端，另一面是受限于续航、安全、合规等因素，国内商业化 落地进展缓慢。宁德时代生态企业峰飞航空科技这次将目光投向水面。 11月22日，昆山淀山湖畔的湖面起降演示，为低空经济与海洋经济的融合写下了关键注脚——峰飞航空 科技发布全球首个海空一体低空经济解决方案，将零碳水上机场与eVTOL（电动垂直起降飞行器）的 协同模式正式推向市场。 在观察者网看来，相较于通勤、文旅等场景，该方案的首创性和实用性在能源运维场景表现得更为直 观。 58分钟跨海配送，改写能源运维规则 "在能源运维领域，我们不是在做一架更快的直升机，而是在做一套更聪明的运维网络。"峰飞航空高级 副总裁谢嘉直指核心。他介绍称，海上风电和油气平台由于距离海岸线远，天气复杂多变、作业窗口 短，运维工程师和关键零部件的每一次上船或上机，都要付出高昂的时间和成本。"有了海空一体节点 和eVTOL，我们可以把它压缩至1-2小时；随着规模化运营，单次运维成本显著下降。" 南海惠州19-3石油平台的运维人员至今记得8月3日那次特殊的"快递服务"：峰飞航空2吨级eVTOL"凯瑞 鸥"装载着新鲜水果与紧急药品 ...

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - Crude oil freight rates are rising while ocean freight rates are declining. The China Import Crude Oil Comprehensive Index (CTFI) reached 2325.40 points on November 20, up 4.2% from November 13. VLCC market activity remains strong, but overall market activity is expected to decline without actual cargo support [3][14] - Changlong Airlines has initiated its IPO process, and VOLANT has signed a confirmation order for the VE25-100 eVTOL aircraft with a state-owned investment group, with the order amount exceeding 100 million yuan [3][16] - The China-Europe Railway Express has surpassed 3500 trips this year, marking a historical high. A new "passenger-cargo-mail integration" model has been launched in cooperation between Rizhao Public Transport and SF Express [3][22] Summary by Sections Industry Hot Events - Crude oil freight rates are high while ocean freight rates are declining. The Shanghai port export price to Europe was $1367/TEU, down 3.5%, and to the US West and East Coast was $1645/FEU and $2384/FEU, down 9.8% and 8.3% respectively [3][15] - Changlong Airlines is preparing for its IPO, with a focus on expanding its operational capacity and market reach [3][16] - The China-Europe Railway Express has achieved a record of over 3500 trips this year, with a focus on high-value goods transportation [3][23] High-Frequency Data Tracking - The Baltic Air Freight Price Index has increased both month-on-month and year-on-year, indicating a positive trend in air freight pricing [4][28] - Domestic express delivery volume increased by 7.90% year-on-year in October 2025, with total express delivery volume reaching 176 billion pieces [4][50] - The national highway freight truck traffic increased by 2.57% week-on-week, indicating a recovery in road logistics [4][18] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [5] - Attention to the low-altitude economy sector, with recommendations for CITIC Offshore Helicopter [5] - Investment opportunities in the road and rail sectors, recommending companies such as Gansu Expressway and Beijing-Shanghai High-Speed Railway [5]

Core Viewpoint - The aviation and airport sector experienced a decline of 0.8% on November 20, with China Southern Airlines leading the losses. The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1]. Summary by Category Stock Performance - The following stocks in the aviation and airport sector showed notable performance: - Hainan Airlines (600221) closed at 1.77, up 0.57% with a trading volume of 5.3774 million shares and a transaction value of 9.57 billion yuan [1]. - China Eastern Airlines (600115) closed at 5.26, down 0.38% with a trading volume of 808.6 thousand shares and a transaction value of 4.28 billion yuan [2]. - Xiamen Airport (600897) closed at 16.50, down 0.96% with a trading volume of 69.3 thousand shares and a transaction value of 1.14 billion yuan [2]. Capital Flow - The aviation and airport sector saw a net outflow of 123 million yuan from institutional investors, while retail investors contributed a net inflow of 162 million yuan [2]. - The capital flow for specific stocks included: - Shanghai Airport (600009) had a net inflow of 45.5255 million yuan from institutional investors, but a net outflow of 47.5760 million yuan from retail investors [3]. - Hainan Airlines (600221) experienced a net outflow of 5.8716 million yuan from institutional investors, while retail investors had a net inflow of 22.9749 million yuan [3].

Core Insights - The aviation and airport sector experienced a decline of 0.62% on November 19, with Xiamen Airport leading the drop [1] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Stock Performance - Spring Airlines (601021) closed at 56.05, up 1.95% with a trading volume of 97,300 shares and a transaction value of 54.5 million [1] - China National Aviation (601111) closed at 8.77, up 0.69% with a trading volume of 682,100 shares and a transaction value of 601 million [1] - Xiamen Airport (600897) closed at 16.66, down 3.25% with a trading volume of 96,500 shares and a transaction value of 162 million [2] Capital Flow - The aviation and airport sector saw a net outflow of 274 million from institutional investors and 175 million from retail investors, while retail investors had a net inflow of 449 million [2] - Major stocks like Spring Airlines and China National Aviation experienced mixed capital flows, with Spring Airlines seeing a net inflow of 42.9 million from institutional investors [3] Individual Stock Analysis - Xiamen Airport had a significant net outflow of 21.74 million from institutional investors, while retail investors contributed a net inflow of 28.31 million [3] - China Eastern Airlines (600115) faced a net outflow of 4.71 million from institutional investors but saw a net inflow of 51.1 million from retail investors [3]

Core Viewpoint - The company's stock price volatility is influenced by multiple complex factors including macroeconomic environment, industry policies, market sentiment, sector rotation, and short-term capital flows [2] Group 1: Company Management and Investor Relations - The company places high importance on market value management and investor returns, establishing a systematic mechanism to enhance these efforts [2] - The company has completed cash dividends for the fiscal year 2024 and for the first half of 2025, indicating a commitment to increasing dividend frequency and proportion [2] Group 2: Business Development - In addition to traditional business operations, the company is actively exploring opportunities in the low-altitude economy, including helicopter tourism, short-distance transportation, and drone services [2] - The company aims to discover more possibilities within the low-altitude economy sector [2]

Group 1 - The company, CITIC Haineng (000099.SZ), has stated on its interactive platform that it has not yet established a partnership with Xiaopeng Huitian [1]