交通运输行业周报：中国与所罗门群岛互免签证，特朗普胜选

Investment Rating - The report maintains a "Recommended" rating for the transportation industry [2][6]. Core Insights - The transportation industry experienced a cumulative increase of 4.85% from November 4 to November 8, 2024, ranking 24th among 31 SW primary industries, while the CSI 300 index rose by 5.50% [2]. - The aviation sector shows signs of recovery, with domestic flight volumes reaching 85,603 flights, a week-on-week increase of 1.50%, recovering to 104.30% of 2019 levels [2][6]. - The shipping sector is expected to benefit from rising freight rates due to geopolitical tensions, particularly in the Red Sea and Middle East regions [7]. Summary by Sections 1. Industry Market Review - The transportation sector's performance from November 4 to November 8, 2024, was +4.85%, with the aviation and logistics sub-sectors showing significant gains [2]. - The report highlights the performance of various sub-sectors: road freight (+20.87%), airports (+13.44%), and logistics (+6.49%) [2][6]. 2. Fundamental Tracking Aviation - In the week of November 4 to November 10, 2024, a total of 99,000 passenger flights were executed, with domestic flights recovering to 104.30% of 2019 levels [2]. - International flight recovery rates vary by destination, with the UK at 102% and Italy at 131% compared to 2019 [2][6]. Shipping - The SCFI index reached 2,332 points, a week-on-week increase of 1.22% and a year-on-year increase of 126.31% [2]. - The CCFI index also showed positive trends across various routes, indicating a robust shipping market [2]. Road and Rail - In September 2024, road passenger volume was 976 million, up 3.27% year-on-year, while rail freight volume reached 427 million tons, up 3.37% year-on-year [3][6]. Express Logistics - The express delivery sector reported revenues of 118.79 billion yuan in September 2024, a year-on-year increase of 10.3%, with a business volume of 14.97 billion pieces, up 18.7% [6]. 3. Investment Recommendations - The report recommends stocks such as China National Aviation (601111.SH), Southern Airlines (600029.SH), and Yunda Holdings (002120.SZ) based on their potential for recovery and growth in the aviation and logistics sectors [6][9].