【深圳商报讯】（记者 肖晗）一年一度的"双11"如期而至。今年电商大促周期拉长，物流高峰呈现"多 波段、长周期"特征，叠加湾区全运会赛事寄递保障需求，顺丰预测，今年"双11"期间深莞顺丰整体业 务量较平日增幅达21%，同比去年增长16%。 科技创新成为物流保障亮点。据深莞顺丰运营规划负责人介绍，在深圳龙岗、坪山、宝安等多个区域， 顺丰无人车已实现常态化运营，覆盖180条线路，日均行驶车辆约135辆，目前高峰期间单日快件处理量 峰值可达9万票。据悉，这些无人车广泛应用于分拨中心至网点、网点至区域的短途接驳，并在校园、 福田空铁轨联运、宝安空地协同、胜立转运站等特殊场景中发挥重要作用，有效减少了中转环节，降低 运营成本，同时减轻了快递员的劳动强度。 低空物流支持也成为业务高峰的重要助力。据透露，顺丰持续构建以深圳为核心、辐射粤港澳大湾区主 要城市的低空物流网络，目前已开通深圳至东莞、中山、珠海等多条跨城航线，并推出面向个人用户 的"跨城飞送"服务。以深圳龙华—东莞塘厦航线为例，深莞顺丰塘厦镇清湖头村营业点负责人吴良广告 诉记者，该营业点与深圳龙华的和记中转场地面距离仅十余公里，但传统运输模式需要经过多次中转， 全 ...

该股主要指标及行业内排名如下： 证券之星消息，截至2025年11月10日收盘，顺丰控股(002352)报收于40.8元，上涨2.05%，换手率 0.76%，成交量36.25万手，成交额14.7亿元。 11月10日的资金流向数据方面，主力资金净流入1.15亿元，占总成交额7.81%，游资资金净流出1.3亿 元，占总成交额8.86%，散户资金净流入1540.84万元，占总成交额1.05%。 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净点比 散户净流入 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-11-10 | 40.80 | 2.05% | 1.15 Z | 7.81% | -1.30亿 | -8.86% | 1540.84万 | 1.05% | | 2025-11-07 | 39.98 | -0.12% | 1514.86万 | 1.27% | -2962.92万 | -2.49% | 1448.07万 | 1.22% | | 2025-11- ...

证 券 研 究 报 告 市场情绪监控周报（20251103-20251107） 本周热度变化最大行业为石油石化、综合 本周市场热度跟踪 本周宽基热度变化方面：热度变化率最大的为中证 2000，相比上周提高 7.38%， 最小的为"其他"，相比上周降低 5.69%。 本周申万行业热度变化方面，一级行业中热度变化率正向变化前 5 的一级行 业分别为石油石化、综合、农林牧渔、建筑材料、煤炭，负向变化前 5 的一级 行业分别为食品饮料、银行、纺织服饰、商贸零售、有色金属；申万二级行业 中，热度正向变化率最大的 5 个行业是油服工程、航天装备Ⅱ、冶钢原料、文 娱用品、元件。 本周概念热度变化最大的 5 个概念为科创次新股、中韩自贸区、青蒿素、家庭 医生、云办公。 本周市场估值跟踪 本周宽基和行业估值： 金融工程 沪深 300、中证 500、中证 1000 的滚动 5 年历史分位数分别为 85%、97%、 96%。 申万一级行业中，从 2015 年开始回溯，当前估值处于历史分位数 80%以上的 一级行业有：综合、电力设备、电子、轻工制造、商贸零售、银行、钢铁、计 算机、医药生物、煤炭、建筑材料、国防军工；位于估值历史 2 ...

日，在浙江省温州市瓯海区的一家网络科技公司，主播通过网络直播销售鞋子。新华社发（刘吉利摄） ↑ 11月10 日，在浙江省温州市瓯海区的一家网络科技公司，主播通过网络直播销售鞋子。新华社发（刘吉利摄） ↑ 11月10 ↑ 11月10 日，在浙江省湖州市长兴县三点一线商贸物流共配中心，工作人员忙着将快递装车外运。新华社发（谭 云俸摄） "双十一"来临，各地电商和快递企业工作人员忙着销售、发货，一派繁忙景象。 ↑ 11月10 日，在浙江省湖州市长兴县物流园区一家快递企业，工作人员在全自动流水线上分拣快递包裹。新华社 发（谭云俸摄） ↑ 11月10 日，在浙江省湖州市长兴县物流园区一家快递企业，工作人员在全自动流水线上分拣快递包裹。新华社 发（谭云俸摄） ↑ 11月10 日，在江苏省连云港市海州区天马电商产业园，工作人员在按照订单发货。新华社发（耿玉和摄） ↑ 11月10 日，在江苏省连云港市连云区一家电商物流仓库，工作人员在转运货物。新华社发（王春摄） 日，在江苏省连云港市海州区天马电商产业园，工作人员按照订单发货。新华社发（耿玉和摄） ↑ 11月10 ↑ 11月10日，在中国邮政速递物流股份有限公司四川省达州市分 ...

Core Insights - The logistics sector experienced a rise of 1.44% on November 10, with *ST Yuanshang leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Stock Performance - *ST Yuanshang (603813) closed at 34.35, up 5.01% with a trading volume of 15,300 [1] - Guanghui Logistics (600603) closed at 7.80, up 3.59% with a trading volume of 288,600 [1] - Xiamen Xiangyu (600057) closed at 8.70, up 3.33% with a trading volume of 361,800 [1] - Jianshe Co. (600153) closed at 10.56, up 3.12% with a trading volume of 357,800 [1] - Milkewei (603713) closed at 61.84, up 3.00% with a trading volume of 29,200 [1] - Shentong Express (002468) closed at 15.54, up 2.57% with a trading volume of 247,800 [1] - Chuanhua Zhili (002010) closed at 6.29, up 2.44% with a trading volume of 415,600 [1] - YTO Express (600233) closed at 16.85, up 2.12% with a trading volume of 149,200 [1] - *ST Haiqin (600753) closed at 7.78, up 2.10% with a trading volume of 29,500 [1] - SF Holding (002352) closed at 40.80, up 2.05% with a trading volume of 362,500 [1] Capital Flow - The logistics sector saw a net inflow of 84.64 million yuan from main funds, while retail funds experienced a net outflow of 100 million yuan [2] - Retail investors contributed a net inflow of 15.74 million yuan [2] Individual Stock Capital Flow - SF Holding (002352) had a main fund net inflow of 1.15 million yuan, with retail net inflow of 15.41 million yuan [3] - Chuanhua Zhili (002010) saw a main fund net inflow of 28.29 million yuan, but retail funds had a net outflow of 13.33 million yuan [3] - Shanghai Yashi (603329) experienced a main fund net inflow of 20.30 million yuan, with a retail net outflow of 14.06 million yuan [3] - Guanghui Logistics (600603) had a main fund net inflow of 9.01 million yuan, with retail net outflow of 7.86 million yuan [3]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - Crude oil freight rates have decreased, and long-distance shipping rates have also declined. The China Import Crude Oil Composite Index (CTFI) reported 2037.91 points on November 6, down 16.0% from October 30. The VLCC market is seeing a gradual entry of cargoes for late November, with a balanced supply of available vessels [3][14] - The Yufeng Future M1 aircraft has received over 2 billion yuan in orders, with 200 units ordered from domestic and international clients. The International Air Transport Association (IATA) has added the Chinese yuan as a settlement currency, expected to be operational by December 2025 [3][16][17] - China Post and COSCO Shipping have signed a strategic cooperation agreement, and ZTO Express has launched four new logistics hubs to enhance service efficiency during peak seasons [3][24][25] Industry High-Frequency Data Tracking - **Air Cargo**: The Baltic Air Freight Index has increased month-on-month but decreased year-on-year. The Shanghai outbound air freight price index was 5366.00 points, down 2.3% year-on-year but up 7.1% month-on-month [26] - **Shipping Ports**: The SCFI index reported 1495.10 points, down 3.59% week-on-week and down 35.88% year-on-year. The CCFI index was 1058.17 points, up 3.60% week-on-week but down 23.78% year-on-year [36] - **Express Logistics**: In September 2025, express delivery volume increased by 12.70% year-on-year, with revenue rising by 7.20%. Cumulative express delivery volume for the first nine months of 2025 reached 1450.8 billion pieces, up 17.20% year-on-year [48] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics. Attention is also drawn to Eastern Airlines Logistics and China Foreign Trade [5] - Opportunities in low-altitude economy investments are highlighted, recommending CITIC Offshore Helicopter [5] - Investment opportunities in the highway and railway sectors are suggested, recommending Ganyue Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - The report also suggests investment opportunities in the cruise and ferry sectors, recommending Bohai Ferry and Straits Shares [5]

Core Viewpoint - SF Holding's stock price has shown a modest increase of 3.50% year-to-date, with recent fluctuations indicating a slight decline over the past 20 and 60 days, reflecting market volatility and investor sentiment [2]. Financial Performance - For the period from January to September 2025, SF Holding reported a revenue of 225.26 billion yuan, marking an 8.89% year-on-year growth, while the net profit attributable to shareholders reached 8.31 billion yuan, up 9.07% year-on-year [2]. - Cumulative cash dividends since the A-share listing amount to 21.48 billion yuan, with 15.35 billion yuan distributed over the past three years [3]. Stock Market Activity - As of November 10, SF Holding's stock price rose by 2.00% to 40.78 yuan per share, with a trading volume of 948 million yuan and a turnover rate of 0.49%, leading to a total market capitalization of 205.51 billion yuan [1]. - The stock has experienced a net inflow of 121 million yuan from major funds, with significant buying activity from large orders [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders for SF Holding increased to 269,700, a rise of 90.71%, while the average circulating shares per person decreased by 47.83% to 17,702 shares [2][3]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 259 million shares, which is a decrease of 9.06 million shares from the previous period [3].

Investment Rating - The report maintains a "Recommendation" rating for the transportation industry [3] Core Insights - The transportation industry is experiencing a recovery, with various segments showing potential for growth, particularly in shipping, infrastructure, aviation, and express delivery [7][19][22][20] Shipping - The shipping sector is seeing mixed price movements, with the SCFI for the US East route down 17.2% and the Southeast Asia route up 6.4% [11] - The report highlights the importance of monitoring the price increases in container shipping and the potential recovery in oil tanker rates due to improved US-China trade relations [16][12] Infrastructure - Key metrics indicate a decline in truck traffic and railway cargo, while port throughput has increased significantly, suggesting a shift in market dynamics [17][18] - The report emphasizes the potential for dividend stocks in the infrastructure sector, particularly in ports, which are currently undervalued [19] Aviation - The aviation sector shows a positive trend with a 7.2% year-on-year increase in passenger volume, driven by improved demand and a low base effect [22] - The report suggests that the industry is poised for profitability in 2026, with a focus on valuation recovery and potential investment opportunities in major airlines [22] Express Delivery - The express delivery sector is benefiting from a reduction in price competition, with a notable increase in business volume and revenue [20] - The report indicates that the "anti-involution" policies are helping to stabilize prices and improve profitability in the sector [20] Logistics - The logistics segment is experiencing stable performance, with cross-border air freight prices showing a week-on-week increase [23] - The report notes the importance of monitoring the daily traffic at key ports and the implications for logistics operations [23]

Core Viewpoint - The launch of SF Express's cold chain logistics service in Chengde marks a significant step in the company's strategic layout and a milestone in the development of cold chain logistics in the region, enhancing infrastructure and service capabilities for economic growth and public welfare [1] Group 1: Company Developments - SF Express has officially launched its cold chain logistics service across Chengde, which is a crucial part of its strategic expansion [1] - The cold chain service aims to facilitate the transportation of Chengde's unique agricultural products, such as Pingquan mushrooms and Longhua beef, enhancing their market access [1] Group 2: Industry Impact - The new cold chain logistics service is expected to improve the safety and freshness of consumer goods and provide efficient medical cold chain services [1] - The Chengde Postal Administration plans to enhance regulatory and service responsibilities to support the cold chain industry, ensuring temperature control and quality traceability for fresh agricultural products and pharmaceuticals [1] - There will be efforts to optimize the business environment and improve cold chain infrastructure and logistics networks in the region, contributing to the development of a modern agricultural supply chain and integrated logistics [1]

Core Points - The "2025 Nanshan Badminton Mixed Team Cup" was successfully held, showcasing a unique blend of sports and business networking [1][3] - The event featured teams from 27 listed companies, 2 financial institutions, and 3 government departments, emphasizing the collaborative spirit of Nanshan's business environment [3][4] - Nanshan District is recognized for its high density of listed companies, with 218 currently, benefiting from a favorable business ecosystem [4] Group 1: Event Overview - The event was guided by the Nanshan District People's Government and aimed to enhance interaction among listed companies through badminton [1][3] - Notable companies such as Tencent, ZTE, and Mindray participated, highlighting the competitive and collaborative nature of the local business community [4][6] - The opening ceremony included a performance that creatively combined workplace themes with badminton, promoting a balance between work and health [7] Group 2: Networking Opportunities - The "CEO Coffee Area" provided a relaxed environment for executives to discuss business needs and explore collaboration opportunities without formalities [8][10] - Direct interactions between company executives and government officials facilitated quick responses to business inquiries and policy consultations [10] - The event served as a platform for companies to showcase their latest products and innovations, fostering potential partnerships [12][14] Group 3: Future Prospects - The Nanshan Badminton series will continue with upcoming finals in December, featuring top teams from various categories [14] - The district aims to enhance its service model for businesses, promoting resource connections and addressing industry challenges [17]