FOTON(SH:600166) Yang Guang Wang·2025-06-08 04:51Core Viewpoint - The long-distance passenger transport industry is facing a significant decline, with many bus stations shutting down or undergoing transformation due to changing travel preferences and market dynamics [1][2][3]. Group 1: Industry Trends - National passenger transport volume is projected to decrease by 57.8% in 2024 compared to 2019, with a further decline of 11.2% in the first quarter of 2025 [1]. - Over 1,200 long-distance passenger stations are expected to close or transform between 2023 and 2025, averaging more than 33 stations disappearing each month [2]. - The rise of high-speed rail and other transportation modes has significantly impacted the long-distance bus market, with rail mileage increasing from 0.9 million kilometers in 2012 to 4.8 million kilometers by the end of 2024 [3]. Group 2: Company Responses - The Shenzhen Futian Bus Station has temporarily suspended operations for approximately five months due to upgrades, with plans to relocate operations to other stations during this period [2]. - Companies are adapting by reallocating bus services to other stations and ensuring staff are reassigned to maintain operational efficiency [2]. - The transformation of bus stations into multi-functional transport hubs is being emphasized, integrating services such as logistics and commercial activities [3][5]. Group 3: Future Directions - The future of long-distance bus stations lies in their transformation into comprehensive transport hubs that offer seamless connections with other transport modes [5][6]. - Innovations such as online ticketing and customized transport services are being explored to enhance customer experience and cater to the evolving travel demands [6]. - Government support is crucial for the industry's transition, with initiatives including a proposed investment of 12 billion yuan to support the upgrade of over 600 bus stations [5].