Workflow
交运行业周报（2025/2/10-2/16）-20250319
Guoxin Securities Co., Ltd·2025-03-13 02:11

Investment Rating - The report maintains a "Positive" outlook for the transportation industry, expecting the industry index to outperform the market index by 5% over the next six months [6]. Core Insights - The Shanghai Composite Index fell by 1.19% last week, while the Shenwan Transportation Industry Index rose by 0.24%, underperforming the market by 0.95 percentage points, ranking 22nd among 31 Shenwan primary industries [2]. - The railway and highway sectors saw an increase of 0.90%, and the airport sector increased by 0.17%. Conversely, the shipping and port sector declined by 1.30% [2]. - Among the three major sectors, the largest gains were in public transport (+4.37%), road freight (+4.24%), and raw material supply chain services (+2.71%). The largest declines were in warehousing logistics (-1.79%), shipping (-1.56%), and ports (-0.83%) [2]. - As of February 16, 2025, the Shenwan Transportation sector's PE (TTM) was 16.47 times, positioned at the 66.76 percentile over the past five years [3]. Summary by Sections Market Review - The report provides a comprehensive overview of the market performance, highlighting the fluctuations in the transportation sector and individual stock performances [2]. Industry Key News - The National Development and Reform Commission is initiating a pilot project for logistics data openness to eliminate "information islands" [8]. - The postal and express delivery sector reported a month-on-month increase of approximately 45.05% in cumulative delivery volume [8]. - Hainan Province plans to introduce 18 measures to invigorate the general aviation and low-altitude economy [8]. - ASEAN countries' tourist groups can enter Yunnan's Xishuangbanna without a visa starting February 10 [8]. - The recovery trajectories of Chinese airports vary under complex circumstances [8]. Industry Data - The report includes detailed data on various segments such as aviation airports, shipping ports, logistics, and railways and highways, providing insights into their performance metrics [8].