交通运输周报：2024数字交通大会在京举办，聚焦新质生产力，激发行业新动能

Investment Rating - The report does not explicitly state an investment rating for the transportation industry, but it suggests focusing on specific companies within the aviation and express delivery sectors, indicating a positive outlook for these areas [6][66]. Core Insights - The transportation index decreased by 0.1% from December 9 to December 13, 2024, outperforming the Shanghai Composite Index, which fell by 0.4%. Notable subsector performances included bus (+6.4%), express delivery (+1.4%), and warehousing logistics (+0.1%) [3][35]. - The 2024 Digital Transportation Conference highlighted the integration of new technologies in transportation, aiming to enhance productivity and stimulate industry momentum [50][55]. - The shipping sector is experiencing fluctuations, with the SCFI index rising by 5.7% while the BDI index fell by 9.9% during the same period [64][40]. Weekly Market Review - The transportation index from December 9 to December 13, 2024, showed a decline of 0.1%, while the Shanghai Composite Index fell by 0.4%. The performance of various subsectors included: - Bus: +6.4% - Express Delivery: +1.4% - Warehousing Logistics: +0.1% - Air Transport: +0.1% - Highway: 0.0% - Shipping: -0.3% - Cross-border Logistics: -0.4% - Port: -1.0% - Railway Transport: -1.2% - Road Freight: -1.7% [3][35]. Shipping Observations - As of December 13, 2024, the SCFI index was at 2384.4, up 5.7% from the previous week, while the BDI was at 1051, down 9.9% [64][41]. - The oil transport sector is expected to see a rise in profit margins due to tight supply-demand conditions, with limited new supply expected [68]. Recent Highlights - The 2024 Digital Transportation Conference focused on the integration of digital technologies in transportation, aiming to enhance productivity and industry momentum [50][55]. - Significant developments in shipping infrastructure were noted, including the completion of nearly half of the lock construction at the Pinglu Canal [65][54]. Investment Strategy - In the aviation sector, there is an expectation of increased demand for international travel in 2024, driven by improved international relations and visa policies. The report suggests focusing on companies like Spring Airlines, Hainan Airlines Holding, and Juneyao Airlines [66][69]. - For express delivery, the report notes a decline in average selling prices for major companies, indicating a need for strategic adjustments [67]. - The highway sector is highlighted for its defensive attributes and investment value, particularly in the context of a weak economic recovery [69].