Core Viewpoint - The launch of the direct cargo flight route from Shanghai to Paris by Eastern Airlines Logistics marks a significant step in enhancing Sino-French economic cooperation and improving the efficiency of air cargo logistics between China and Europe [1][3]. Group 1: Route Details - The new cargo route operates with a Boeing 777 freighter, offering three round trips per week, primarily transporting machinery and clothing to Paris, while returning with chemical products and raw materials [3][4]. - The route connects to major European hubs such as Amsterdam, Frankfurt, and Budapest, creating a comprehensive cargo network that enhances logistics efficiency across Western and Central Eastern Europe [3][4]. Group 2: Market Response and Strategy - The opening of this route is a proactive response to the increasing air cargo volume between China and France, reflecting a stable and growing bilateral trade relationship [3]. - Eastern Airlines Logistics aims to deepen international cooperation, having previously partnered with Air France-KLM to extend its logistics network to South America, with plans to further explore emerging markets in Africa [3][4]. Group 3: Strategic Importance - This initiative aligns with China Eastern Airlines' strategic goals of expanding international operations and enhancing the integration of passenger and cargo services [4]. - The company has a long-standing presence in the Shanghai-Paris passenger route, increasing flight frequency from three to twelve per week over the past twenty years, which supports the new cargo operations [4].

Core Points - China Eastern Airlines Logistics has launched a new direct cargo flight route from Shanghai to Paris, enhancing the "Air Silk Road" between China and Europe [1][3] - The new route responds to the increasing demand for air cargo between China and France, facilitating a more efficient logistics support for expanding trade [3] Group 1 - The inaugural flight of the CK203 cargo service took off from Shanghai Pudong International Airport at 5:58 AM on November 20 [1] - The route operates three round trips per week using Boeing 777 freighters, focusing on machinery, clothing, chemicals, and raw materials [3] - The Paris hub connects with existing European destinations such as Amsterdam, Frankfurt, and Budapest, creating a comprehensive cargo network across Western and Central Eastern Europe [3] Group 2 - The new service allows for rapid distribution of goods to major European cities within 48 hours of arrival at Charles de Gaulle Airport, significantly improving logistics efficiency [3] - In 2023, China Eastern Airlines has also opened several passenger routes to European cities including Copenhagen, Milan, Geneva, and Barcelona, with plans to further expand its European network [3]

Core Viewpoint - The launch of the direct cargo flight route from Shanghai to Paris by Eastern Airlines Logistics marks a significant step in enhancing Sino-French economic cooperation and promoting the collaborative development of supply chains between Asia and Europe [1][3]. Group 1: Market Demand and Logistics Support - The air cargo volume from China to France has been steadily increasing, while the import air cargo flow from France to China has stabilized, creating a positive bilateral trade environment [3]. - The new route responds to the demand in the China-Europe air cargo market and aims to provide efficient and reliable logistics support for expanding trade scale [3]. Group 2: Operational Details - The route operates with a B777 freighter, offering three round trips per week, primarily transporting machinery and apparel on outbound flights, and focusing on chemical products and raw materials on return flights [3][4]. - Paris Charles de Gaulle Airport serves as a key hub, facilitating rapid distribution of goods to major European cities within 48 hours, thereby significantly enhancing overall logistics efficiency between China and Europe [3]. Group 3: Strategic Expansion - The launch of this cargo route is part of Eastern Airlines' strategy to expand internationally and tap into emerging markets, reinforcing its commitment to a dual passenger and cargo operation model [4]. - Eastern Airlines has been operating passenger flights on the Shanghai-Paris route for over 20 years, increasing flight frequency from three to twelve per week, which provides a solid foundation for the new cargo service [4]. - The company plans to continue expanding its European network and explore new routes in Central and Eastern Europe, further strengthening the "Air Silk Road" between China and Europe [4].

Core Points - The board of directors of China Eastern Airlines Corporation Limited held its 12th meeting in 2025, where several key resolutions were passed regarding asset management and internal auditing [1][6]. Group 1: Asset Management Decisions - The board approved the proposal to initiate land acquisition and asset disposal related to the Kunming Changshui Airport maintenance area, allowing the local government to expropriate land, buildings, and fixed assets from its subsidiary, Eastern Airlines Yunnan Co., Ltd [1]. - The board agreed to transfer 49% equity of Shanghai Eastern Airlines Supply Chain Management Co., Ltd from Eastern Airlines Import and Export Co., Ltd to its affiliate, Eastern Airlines Logistics Co., Ltd, based on an asset evaluation as of June 30, 2025 [2]. - The board consented to the sale of land and property at the Hongqiao base on Sui Ning Road from Shanghai Airlines Co., Ltd to China Cargo Airlines Co., Ltd, a subsidiary of Eastern Airlines Logistics, with the transfer price not less than the assessed asset value as of June 30, 2025 [3]. Group 2: Internal Audit Adjustments - The board approved adjustments to the internal audit work plan for 2025, which had been reviewed by the Audit and Risk Management Committee [4].

Core Insights - The logistics sector experienced a decline of 0.3% on November 19, with Longzhou Co. leading the drop [1] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Stock Performance - ST Xuefa (002485) saw a significant increase of 4.94%, closing at 5.10 with a trading volume of 54,200 shares and a turnover of 27.61 million yuan [1] - Longzhou Co. (002682) led the decline with a drop of 9.95%, closing at 7.06 with a trading volume of 2.24 million shares and a turnover of 1.648 billion yuan [2] - Other notable performers included Huapei (300350) with a 4.70% increase and Dongfang Jiasheng (002889) with a 4.07% increase [1] Capital Flow - The logistics sector saw a net outflow of 252 million yuan from institutional investors, while retail investors contributed a net inflow of 194 million yuan [2] - The table of capital flow indicates that Dongfang Jiasheng (002889) had a net inflow of 44.26 million yuan from institutional investors, while it faced a net outflow of 22.33 million yuan from retail investors [3]

Core Viewpoint - A batch of precious cultural relics from the National Museum of China, weighing a total of 619 kilograms, has been successfully transported for an exhibition, showcasing Chinese civilization to a global audience [1][4]. Group 1: Logistics and Transportation - The relics were transported by Eastern Airlines Logistics North China Branch, which established a specialized support team to ensure the safe transport of the artifacts [4]. - High-strength straps were used to scientifically secure the relics to the pallets during the assembly phase, enhancing their resistance to shocks and vibrations [4]. - The artifacts were stored in a dedicated isolation area monitored by 24-hour video surveillance, ensuring physical separation from regular cargo to mitigate risks [4]. Group 2: Experience and Future Plans - Eastern Airlines Logistics North China Branch has previously handled the transportation of cultural relics for the National Museum of China, gaining extensive experience in the cross-border transport of high-value artworks [4]. - The company plans to continue focusing on the "cultural export" sector, aiming to safely and timely present more Chinese treasures on the world stage, highlighting the depth and contemporary relevance of Chinese civilization [4].

鲜味直达 今冬首批车厘子"乘包机"抵达宁波 "我们围绕'车厘子专线'构建了全流程保障体系。"东航物流宁波业务相关负责人介绍，"从舱位预订、冷 链控温到地面接驳，每个环节都制定了细化方案，力求在有限班次中实现运输效能最大化。" 他表示，包机直飞不仅大幅压缩物流时间，也显著降低了货物损耗，为市民"餐桌新鲜"和商家"节前备 货"提供了有力支持。 面对生鲜货物对时效与操作的严苛要求，宁波机场翔鹰货站提前部署保障资源，不断完善地面保障流 程，强化节点衔接，实现货物快速周转。宁波机场海关也同步启动生鲜商品绿色通道，全面推行"提前 申报、到即查验、快速放行"的便利化通关模式。 "迈阿密=宁波"车厘子包机航线的运营，有效带动了航线双向货流的均衡发展，并显著提升了整体运营 效益。未来，宁波机场将持续发力，为南北半球优质商品与消费市场"双向奔赴"构建"新鲜纽带"，为深 今冬首批车厘子"乘包机"抵达宁波。宁波机场 供图 中新网宁波11月19日电(奚金燕 蒋钦卿 张丽婷 吴彪)11月19日清晨，一架载有47吨智利车厘子的"迈阿密 =宁波"水果货运包机，跨越重洋，历经10小时的飞行，顺利飞抵宁波栎社国际机场。这是本产季首批 以包机形式 ...

Core Insights - The shipping industry is experiencing fluctuations in oil freight rates, with the China Import Crude Oil Index (CTFI) rising by 9.5% to 2231.96 points as of November 13 [3] - VLCC market activity is slowing down as the end of November cargoes approaches, with a general optimism about future rates despite a temporary pause in geopolitical premiums [3] - The air transport sector sees significant developments, including Volant Air's completion of a multi-hundred million yuan Series B financing and the debut of China's C919 aircraft at the Dubai Airshow [2][3] - The logistics sector is witnessing record-breaking parcel volumes during the "Double Eleven" shopping festival, with Jitu Express reporting over 100 million parcels on November 11, a 9% year-on-year increase [2][3] Shipping Industry - Oil freight rates have shown a pattern of decline followed by an increase, with the CTFI reflecting a recent upward trend [3] - The European shipping market remains stable, with spot market rates increasing due to solid supply-demand fundamentals [3] - In contrast, the US shipping market is facing a lack of growth momentum, leading to a decline in booking prices for routes to the West and East coasts [3] Air Transport - Volant Air has successfully raised several hundred million yuan in Series B funding, with participation from various investors [2][3] - The C919 aircraft made its first appearance in the Middle East at the Dubai Airshow, marking a significant milestone for Chinese aviation [2][3] Logistics and Express Delivery - Jitu Express reported a record-breaking parcel volume during the "Double Eleven" shopping festival, with a daily average of 94.59 million parcels from November 1 to 12, reflecting a 15% year-on-year growth [2][3] - National postal services recorded a total of 13.938 billion parcels collected from October 21 to November 11, with a peak daily volume of 777 million parcels [2][3] Investment Recommendations - The company suggests focusing on the industrial goods export chain, recommending stocks such as COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [5] - There is an emphasis on investment opportunities related to the construction of hydropower stations in the Yarlung Tsangpo River basin, with recommendations for Sichuan Chengyu, Chongqing Port, and Fulinyunyi [5] - The low-altitude economy is highlighted as a trend for investment, with a recommendation for CITIC Offshore Helicopter [6] - The road and rail sectors are also noted for investment opportunities, with specific companies recommended [7] - The express delivery sector is advised for investment, with recommendations for SF Express, Jitu Express, and Yunda [8]

Investment Rating - The report rates the transportation industry as "Outperform" [1] Core Insights - Crude oil freight rates initially declined but then increased, with a divergence in container shipping rates on long-distance routes. The China Import Crude Oil Composite Index (CTFI) rose to 2231.96 points, up 9.5% from November 6 [2][13] - Volant Aviation completed a multi-hundred million yuan Series B financing round, and the C919 aircraft made its debut at the Dubai Airshow [2][15] - Jitu Express reported over 100 million packages on "Double Eleven," marking a 9% year-on-year increase, with an average daily package volume of 94.59 million during the peak season [2][23] Summary by Sections Industry Hot Events - Crude oil freight rates fluctuated, with the CTFI at 2231.96 points, a 9.5% increase from November 6. The VLCC market is optimistic about future rates due to tight vessel availability [2][13] - Volant Aviation's Series B financing was led by Huaying Capital, with existing shareholders also increasing their investments. The C919 aircraft is set to showcase its capabilities at the 2025 Dubai Airshow [2][15] - Jitu Express achieved a record-breaking package volume during "Double Eleven," with a total of 1.3938 billion packages collected nationwide from October 21 to November 11, reflecting a 17.8% increase in daily average volume [2][25] High-Frequency Dynamic Data Tracking - The Baltic Air Freight Price Index increased month-on-month but decreased year-on-year. The Shanghai outbound air freight price index was 5356.00 points, down 2.5% year-on-year [27][28] - Domestic freight flights increased by 0.32% year-on-year, while international flights rose by 11.12% [28] - The SCFI index reported a decrease of 2.92% week-on-week, while the CCFI index increased by 3.39% week-on-week [35] Investment Recommendations - Focus on the equipment and manufacturing industrial products export chain, recommending companies like COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [4] - Attention to the transportation demand increase driven by the construction of hydropower stations in the Yarlung Tsangpo River downstream [4] - Investment opportunities in the low-altitude economy, with a recommendation for CITIC Offshore Helicopter [4] - Recommendations for highway and railway sectors, including Gansu Expressway and Beijing-Shanghai High-Speed Railway [4] - Opportunities in the cruise and ferry sectors, recommending Bohai Ferry and Straits Shares [4] - E-commerce and express delivery investment opportunities, recommending SF Express, Jitu Express, and Yunda [4] - Investment opportunities in the aviation sector, recommending China National Aviation, Southern Airlines, and Spring Airlines [4]

Core Insights - China Eastern Airlines Logistics has launched its own charter flights for transporting fresh cherries from Chile, marking a new milestone in the importation process with a record transportation time of approximately 24 hours from Chile to Shanghai [1][4]. Group 1: Operational Highlights - The "Donghang Cold Chain" flight CK292 is set to transport 88.75 tons of fresh cherries, further enhancing the logistics capabilities of China Eastern Airlines in the fresh produce sector [1][4]. - Over 1,100 tons of cherries have already been transported to various ports in China, including Wuhan, Shanghai, Zhengzhou, Shenzhen, Hefei, Ningbo, and Hong Kong, showcasing the extensive operational reach of the company [4]. - The logistics operation integrates resources from nine major global airlines, creating a high-frequency and high-density flight schedule to optimize the supply chain for fresh produce [4]. Group 2: Technological Integration - The use of digital tools such as the "Dongdong Monitoring" temperature control system and the "Flying Fresh" intelligent scheduling platform allows for transparent management of the entire logistics process, from harvesting to delivery [4]. - This technological integration aims to ensure that consumers across different regions in China can access high-quality imported cherries at reasonable prices [4]. Group 3: Market Position and Strategy - Chile has been a key partner in agricultural trade with China, being the largest source of cherry imports for over a decade, and China Eastern Airlines Logistics has maintained its position as the largest air carrier and importer of Chilean cherries in China for twelve consecutive years [5]. - The company is actively enhancing its global fresh supply chain capabilities and is committed to supporting the dual circulation development strategy in China, contributing to the construction of Shanghai as an international shipping center [5]. - Future operational strategies will focus on optimizing the model of "bulk orders, partial shipments" to ensure broader coverage, faster delivery, and stable quality for consumers [5].