Market Overview - The equity markets experienced significant volatility due to strong quarterly performances from some blue-chip tech firms being overshadowed by concerns over the rising valuations of AI companies [1] - Experts predict that the growth of AI firms may not justify the substantial investments, potentially leading to a market correction [1] - The U.S. government shutdown has reached a record 38 days, contributing to investor uncertainty and increased market volatility [1] Economic Conditions - The U.S. economy showed signs of weakness with 153,000 job cuts in October, the highest for that month in 22 years, raising concerns about labor market conditions [2] - Investors are adopting a cautious "wait-and-see" approach, focusing on "cash cow" stocks that provide higher returns [2] Investment Metrics - Return on Equity (ROE) is highlighted as a crucial metric for assessing a company's financial health and efficiency in generating profits [3][4] - A high ROE indicates effective reinvestment of cash at a high rate of return, distinguishing profitable companies from less efficient ones [3][4] Stock Screening Criteria - Stocks are screened based on parameters such as Cash Flow greater than $1 billion and ROE exceeding the industry average [5] - Additional criteria include Price/Cash Flow lower than the industry average and Return on Assets (ROA) greater than the industry average [6] - A 5-Year EPS Historical Growth greater than the industry average is also considered to ensure continued earnings momentum [6] High-ROE Stocks - TE Connectivity, ZTO Express, Corning, Banco Bilbao, and VICI Properties are identified as high-ROE stocks that offer resilient investment options [7] - TE Connectivity has a long-term earnings growth expectation of 10.7% and a trailing four-quarter earnings surprise of 6.5% on average, with a Zacks Rank of 2 [9] - ZTO Express has a long-term earnings growth expectation of 1.7% and also carries a Zacks Rank of 2 [11] - Corning has a long-term earnings growth expectation of 18.2% and a trailing four-quarter earnings surprise of 4.1% on average, with a Zacks Rank of 1 [12] - Banco Bilbao has a long-term earnings growth expectation of 12% and a trailing four-quarter earnings surprise of 5.7% on average, with a Zacks Rank of 2 [13] - VICI Properties has a long-term earnings growth expectation of 4.2% and a trailing four-quarter earnings surprise of 0.4% on average, with a Zacks Rank of 2 [15]

中通快递-W(02057)发布公告，于2025年11月6日，该公司斥资528.73万美元回购27.88万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 第 2 頁 共 9 頁 v 1.3.0 | 9). | 購回股份但沒有註銷 | | 283,374 | % | USD | 18.95 | | --- | --- | --- | --- | --- | --- | --- | | | 於美國時間2025年10月8日購回283,374股美國存託股份(代表283,374股 | | | | | | | | A類普通股) | | | | | | | | 變動日期 | 2025年10月8日 | | | | | | 10). | 購回股份但沒有註銷 | | 423,128 | % | USD | 18.65 | | | 於美國時間2025年10月10日購回423,128股美國存託股份(代表423,128 | | | | | | | | 股A類普通股) | | | | | | | | 變動日期 | 2025年10月10日 | | | | | | | 購回股份但沒有註銷 | | | | | | | 11). | | | 450,069 | % | USD | 18.7 ...

格隆汇11月6日丨中通快递-W(02057.HK)发布公告，2025年11月5日耗资588.35万美元回购31.17万股， 每股回购价18.77-18.99美元。 ...

智通财经APP讯，中通快递-W(02057)发布公告，于2025年11月5日，该公司斥资588.35万美元回购31.17 万股。 ...

翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中通快遞（開曼）有限公司（於開曼群島註冊成立以不同投票權控制的有限責任公司） 呈交日期： 2025年11月6日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 FF305 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02057 | 說明 | A類普通股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份 ...

第 1 頁 共 11 頁 v 1.1.1 | 3. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | 其他類別 (請註明) | 於香港聯交所上市 (註1) | 否 | | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 未指定 | | | | 2. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | B | | | 於香港聯交所上市 (註1) | 否 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | B類普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0001 USD | | | 100,000 | | 增加 / 減少 (-) | | | | | | USD | | | | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類 ...

中通快递-W(02057)发布公告，于2025年11月4日，该公司斥资657.16万美元回购35.12万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中通快遞（開曼）有限公司（於開曼群島註冊成立以不同投票權控制的有限責任公司） 呈交日期： 2025年11月5日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02057 | 說明 | A類普通股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份 ...

Investment Rating - The report maintains a "stronger than market" rating for the transportation industry [6] Core Insights - Crude oil freight rates have significantly increased, with the China Import Crude Oil Composite Index (CTFI) rising to 2425.93 points, up 48.6% from October 23 [2][13] - The three major state-owned airlines in China reported collective profitability in the first three quarters of 2025, with Hainan Airlines becoming the most profitable domestic airline [15][16] - Jitu Express has launched the world's largest self-built logistics hub, which is expected to enhance logistics capabilities during the "Double 11" shopping festival [22][23] Industry Investment Opportunities - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [4] - Attention to the transportation demand increase driven by the construction of hydropower stations in the Yarlung Tsangpo River downstream, recommending Sichuan Chengyu, Chongqing Port, and Fulimin Transportation [4] - Investment opportunities in the low-altitude economy, recommending CITIC Offshore Helicopter [4] - Opportunities in the highway and railway sectors, recommending Gansu Expressway, Beijing-Shanghai High-Speed Railway, and others [4] - The cruise and water ferry sector presents thematic investment opportunities, recommending Bohai Ferry and Haixia Shares [4] - E-commerce and express delivery investment opportunities, recommending SF Express, Jitu Express, and Yunda Shares [4] - Investment opportunities in the aviation sector, recommending Air China, China Eastern Airlines, Spring Airlines, and others [4] Industry High-Frequency Data Tracking - The Baltic Air Freight Price Index has increased month-on-month, while year-on-year it has decreased [25] - Domestic freight volume for express delivery in September 2025 increased by 12.70% year-on-year, with revenue up by 7.20% [51] - In the first nine months of 2025, the total freight volume at national ports reached 1.3567 billion tons, a year-on-year increase of 4.6% [48]