Core Viewpoint - The opening of the Zhuhai Airport International Cargo Port marks a significant development in establishing a comprehensive international air cargo hub on the west bank of the Pearl River, enhancing logistics efficiency and supporting the Greater Bay Area's economic growth [1][2][5]. Group 1: Infrastructure and Operational Efficiency - The Zhuhai Airport International Cargo Port has been operational since August 27, with its first flight reducing logistics costs by 10% and saving at least 2 hours in transit time compared to routes via Guangzhou and Shenzhen [1][2]. - The port covers an area of 64,700 square meters with a designed annual cargo handling capacity of 150,000 tons, facilitating a full process from collection to customs inspection [2][3]. - The port's establishment is expected to double the cargo throughput at Zhuhai Airport, contributing to the formation of a new regional air logistics pattern [2][3]. Group 2: Strategic Importance and Future Development - The port is positioned as a core air cargo hub in the Greater Bay Area, aiming to connect with major logistics centers in Hong Kong, Shenzhen, Guangzhou, and Macau [2][5]. - Future plans include expanding the international air cargo network and establishing more cargo routes to Asia and beyond, with a target of achieving 15,000 tons of cargo throughput [5][6]. - The port will leverage Zhuhai's comprehensive transportation network, including land, sea, and air, to enhance logistics solutions tailored to local industries such as high-end manufacturing and cross-border e-commerce [6]. Group 3: Market Demand and Industry Trends - The international cargo market is experiencing sustained growth driven by factors such as the rise of cross-border e-commerce, manufacturing upgrades, and supply chain restructuring [4]. - The logistics supply chain is becoming increasingly crucial for supporting industrial upgrades and economic development, emphasizing the need for safe, efficient, and intelligent logistics solutions [4].

证券之星消息，8月27日物流板块较上一交易日下跌1.81%，永泰运领跌。当日上证指数报收于3800.35， 下跌1.76%。深证成指报收于12295.07，下跌1.43%。物流板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603813 | *ST原尚 | 18.43 | 5.01% | 2.46万 | - 4404.89万 | | 603871 | 嘉友国际 | 11.88 | 4.39% | 53.41万 | 6.38亿 | | 002468 | 申通快递 | 18.24 | 1.45% | 38.78万 | 7.05亿 | | 600753 | *ST海钦 | 6.97 | 1.01% | + 4.58万 | 3221.10万 | | 603560 | 长久物流 | 8.84 | 0.23% | 30.18万 | 2.71亿 | | 601598 | 中国外运 | 5.63 | -0.18% | 24.77万 | 1.41亿 | | 601156 | 东航物流 | 1 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002468 | 申通快递 | 18.36 | -4.77% | 61.75万 | 11.43亿 | | 605050 | 福然德 | 15.74 | -4.61% | 20.56万 | 3.26亿 | | 600603 | ST广物 | 8.60 | -2.27% | 19.28万 | 1.67亿 | | 000906 | 浙商中拓 | 6.56 | -2.09% | - 36.42万 | 2.39亿 | | 600119 | 长江投资 | 9.35 | -1.79% | 10.50万 | 9803.19万 | | 300013 | 新宁物流 | 4.13 | -1.20% | 26.67万 | 1.10亿 | | 002889 | 东方嘉盛 | 16.54 | -1.08% | 9.08万 | 1.51亿 | | 600233 | 圆通速递 | 17.57 | -0.96% | 33.29万 | 5.85亿 | | 002800 | 天顺股份 ...

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The opening of the first low-altitude cargo route between Wuhan and Ezhou, along with high passenger traffic at Shanghai ports during the summer season, indicates growth in logistics and transportation [2][3] - Oil shipping rates remain low and fluctuating, while shipping rates for routes to Europe and the US continue to decline [3][16] - Joby Aviation successfully completed the world's first manned eVTOL flight between airports, showcasing advancements in aviation technology [3][17] - National railway coal shipments reached 1.02 billion tons in the first half of 2025, reflecting strong demand in the transportation sector [3][27] Industry Dynamics Shipping and Logistics - Oil shipping rates are experiencing low-level fluctuations, with the China Import Crude Oil Composite Index at 1064.60 points, up 0.7% from the previous week [15] - The shipping market is showing signs of weakness, with rates for routes to Europe and the US declining by 7.2% and 3.5% respectively [16] - The first low-altitude cargo flight between Ezhou and Wuhan was completed, marking a significant development in regional logistics [25][26] Passenger Transport - Shanghai's passenger traffic has remained high, averaging 129,000 daily entries and exits, a year-on-year increase of over 14% [18] - The peak day recorded 157,000 passengers, indicating a strong recovery in air travel [18] Freight and Rail Transport - In the first half of 2025, national railways transported 1.98 billion tons of goods, with coal shipments accounting for 1.02 billion tons [27] - The average daily loading of coal cars was 182,400, reflecting a 3.0% year-on-year increase [27] High-frequency Data Tracking - Air cargo prices have shown a slight decline, with the Shanghai outbound air freight price index at 4455.00 points, down 4.1% year-on-year [28] - The domestic air cargo flight volume increased by 7.61% year-on-year in July 2025, while international flights rose by 23.31% [37] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies such as COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [5] - Consider opportunities in low-altitude economy investments, particularly in companies like CITIC Offshore Helicopter [5] - Explore investment opportunities in the road and rail sectors, with recommendations for Gansu Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - Pay attention to the express delivery sector, recommending companies like SF Express, Jitu Express, and Yunda [5]

Market Overview - On August 22, the logistics sector declined by 0.49%, with Hengji Daxin leading the drop [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Stock Performance - Notable gainers in the logistics sector included: - Furande (605050) with a closing price of 16.50, up 6.04% and a trading volume of 128,200 shares, totaling 205 million yuan [1] - ST Yuanshang (603813) closed at 16.13, up 5.01% with a trading volume of 4,983 shares, totaling approximately 800,000 yuan [1] - Major decliners included: - Hengji Daxin (002492) closed at 7.24, down 2.82% with a trading volume of 131,800 shares, totaling approximately 96.3 million yuan [2] - Huami Duhai (872351) closed at 29.92, down 2.54% with a trading volume of 26,700 shares, totaling approximately 80.1 million yuan [2] Capital Flow - The logistics sector experienced a net outflow of 317 million yuan from institutional investors, while retail investors saw a net inflow of 245 million yuan [2] - Notable capital flows included: - Donghang Logistics (601156) had a net inflow of 66.26 million yuan from institutional investors, but a net outflow of 46.13 million yuan from retail investors [3] - Furande (605050) saw a net inflow of 33.59 million yuan from institutional investors, with retail investors experiencing a net outflow of 12.39 million yuan [3]

Core Insights - The launch of the first comprehensive aviation pre-cargo station in China by Eastern Airlines at the Kunshan International Airport Logistics Center significantly enhances logistics efficiency and reduces operational costs for businesses in the Yangtze River Delta region [1][2] Group 1: Operational Improvements - Logistics efficiency has improved by over 60%, while operational costs have decreased by over 30% due to the new cargo station [1] - The Kunshan Logistics Center connects over 100 airlines, covering more than 100 countries and regions, and reaching over 1,000 destinations [1] Group 2: Economic Impact - The Kunshan Logistics Center completed an import and export cargo value of $1.1 billion in the first half of the year, representing a year-on-year growth of 14.84% [2] - The establishment of the cargo station is expected to create a "direct global access" air freight channel for local enterprises [1] Group 3: Strategic Partnerships - The launch event included signing ceremonies for collaborations between Kunshan Development Zone and various logistics companies, enhancing the regional logistics network [2]

Group 1 - China Eastern Airlines Logistics has officially launched the first aviation pre-positioned cargo station in Kunshan, marking a significant step in enhancing logistics efficiency in the Yangtze River Delta region [1][4] - The new cargo station allows for the relocation of security checks, customs, and cargo consolidation functions from Shanghai to Kunshan, creating a streamlined service model that emphasizes "one-time security check, efficient customs clearance, and direct access to the airport" [1][4] - The project, initiated in March 2023, aims to improve logistics solutions for local businesses and facilitate rapid connections with major international airports in Shanghai [4][5] Group 2 - By 2025, the aviation pre-positioned cargo station is expected to further optimize processes and reduce cargo dwell time at airport ports, enhancing overall transportation efficiency [4] - The initiative is designed to support high-end manufacturing, cross-border e-commerce, and biopharmaceutical industries in the Yangtze River Delta by providing reliable aviation logistics services [4][5] - China Eastern Airlines Logistics plans to expand the service capabilities of the cargo station and promote the integration of aviation with various industries, contributing to the development of Shanghai as an international aviation hub [5]

昆山国际空港近2年来已完成货运量6万余件，进出口超34亿美元。随着此次前置货站的启用，长三角国 际空港昆山物流中心成为"口岸型、直通型"综合性航空前置货站，将链接111家航空公司、直达全球 1036个目的地。昆山至上海段企业物流时效可提升60%以上，运营成本下降30%以上。 中新网苏州8月21日电 (记者 钟升)全国首家备案制综合型航空前置货站——东方航空—昆山国际空港前 置货站21日在长三角国际空港昆山物流中心启用。当天，首批出口货物在货站经过一次性安检、打板 后，通过专用驳运卡车直达上海浦东机场，随后发往德国法兰克福和越南胡志明市。 尚无民用机场的苏州正持续加大与上海在航空物流领域的合作。今年4月，全国首个跨省(市)、跨关区 的前置货站——上海机场-苏州前置货站在苏州工业园区综合保税区启用；7月8日，上海机场-苏州前置 货站冷链专列正式开通，为苏州4000家生物医药企业提供专业的冷链保障。(完) 昆山市委书记陈丽艳在启用仪式上说，此次前置安检货站的启用，将有力促进物流效率跃升，推动企业 运营成本下降，以物流发展的高效率助推昆山经济高质量发展。同时，将为昆山企业拓展全球市场提供 更多机遇，进一步提升昆山外贸 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600794 | 保税科技 | 4.83 | 5.46% | 133.59万 | | 6.37亿 | | 603713 | 密尔克卫 | 62.38 | 2.50% | 2.92万 | | = 1.82亿 | | 002468 | 申通快递 | 19.48 | 2.47% | 51.21万 | | 9.79亿 | | 002492 | 恒基达整 | 7.45 | 1.78% | 15.96万 | | 1.18亿 | | 600119 | 长江投资 | 9.54 | 1.49% | 8.59万 | | 8191.39万 | | 601598 | 中国外运 | 5.63 | 1.26% | 15.09万 | | 8470.72万 | | 603871 | 嘉友国际 | 11.51 | 1.23% | 21.09万 | | 2.42亿 | | 002800 | 天顺股份 | 15.58 | 1.17% | 10.24万 | | 1.59亿 ...

Group 1 - The company received a resignation letter from Mr. Dongfang Hao, a board member, due to work arrangements [1] - Mr. Dongfang Hao's resignation is effective upon delivery of the letter and he confirmed there are no disagreements with the board [1] - The resignation will not affect the legal number of board members or the normal operations of the company [1] Group 2 - The company will promptly complete the election of a new board member in accordance with relevant laws and regulations [1] - The board expressed gratitude for Mr. Dongfang Hao's contributions during his tenure [1]