Market Overview - The Hong Kong stock market showed signs of recovery, with the Hang Seng Index rising by 0.95% to close at 26,630 points, while the Hang Seng China Enterprises Index and the Hang Seng Tech Index increased by 0.51% and 0.56% respectively [1][2]. Technology Sector Performance - Major tech stocks led the market rebound, with Tencent's stock price reaching 530 HKD during the day. Other tech companies such as NetEase, Meituan, JD.com, and Baidu also saw positive performance [2][3]. Stock Performance Data - Notable stock performances included: - Tencent Holdings (00700) at 518.00 HKD, up by 6.00 HKD (+1.17%), with a total market capitalization of 4.717 trillion HKD - NetEase (09999) at 179.20 HKD, up by 4.20 HKD (+2.40%), with a market cap of 567.35 billion HKD - Meituan (03690) at 81.15 HKD, up by 0.70 HKD (+0.87%), with a market cap of 495.99 billion HKD [3]. Sector Movements - Other sectors such as banking, real estate, and coal also showed strength, while power, steel, and oil stocks were active [4]. - Conversely, sectors like aviation, consumer electronics, and building materials experienced declines [4]. Market Dynamics - The overall trading volume in the Hong Kong market was 288.42 billion HKD, indicating increased liquidity. Short selling amounted to 36.55 billion HKD, representing 12.67% of the total trading volume, highlighting ongoing market divergence [4]. - The market is experiencing rapid rotation of hot and cold sectors, with cyclical stocks like steel and rare earths gaining strength, while AI-related sectors such as storage and chips faced declines [5][7]. Policy Implications - Recent meetings by the Central Political Bureau emphasized the need for more proactive macro policies to expand domestic demand and optimize supply, which may provide further support for the market [7]. A-Share Market Correlation - The A-share market mirrored the performance of the Hong Kong market, with a total trading volume of approximately 24,880.24 billion HKD, showing a decrease of about 504.22 billion HKD from the previous trading day. Over 3,200 stocks rose, particularly in the cyclical sector [8].

铁路客运量预计1565万人次，环比下降8%，比2025年同期增长9.8%。 公路人员流动量（包括高速公路及普通国省道非营业性小客车人员出行量、公路营业性客运量） 预计20286万人次，环比下降3.4%，比2025年同期增长4.8%。其中，公路营业性客运量预计3238 万人次，环比下降2.2%，比2025年同期增长4.7%；高速公路及普通国省道非营业性小客车人员出 行量预计17048万人次，环比下降3.6%，比2025年同期增长4.8%。 水路客运量预计84万人次，环比下降14.2%，比2025年同期增长19.5%。 民航客运量预计259万人次，环比下降1.7%，比2025年同期增长10%。 铁路客运量1701.4万人次，环比下降6%，比2025年同期增长12.4%。 公路人员流动量（包括高速公路及普通国省道非营业性小客车人员出行量、公路营业性客运量） 20996万人次，环比下降4.8%，比2025年同期增长4.8%。其中，公路营业性客运量3312万人次， 环比增长0.9%，比2025年同期增长4.9%；高速公路及普通国省道非营业性小客车人员出行量 17684万人次，环比下降5.8%，比2025年同期增长4.7 ...

来源：央视新闻客户端 记者从交通运输部获悉，2月26日（春运第25天，农历正月初十），全社会跨区域人员流动量预计达 22194万人次，环比下降3.8%，比2025年同期增长5.2%。其中： 2月25日（春运第24天，农历正月初九，星期三），全社会跨区域人员流动量23058.9万人次，环比下降 4.9%，比2025年同期（星期四）增长5.4%。其中： 铁路客运量1701.4万人次，环比下降6%，比2025年同期增长12.4%。 公路人员流动量（包括高速公路及普通国省道非营业性小客车人员出行量、公路营业性客运量）20996 万人次，环比下降4.8%，比2025年同期增长4.8%。其中，公路营业性客运量3312万人次，环比增长 0.9%，比2025年同期增长4.9%；高速公路及普通国省道非营业性小客车人员出行量17684万人次，环比 下降5.8%，比2025年同期增长4.7%。 水路客运量97.9万人次，环比下降8.8%，比2025年同期增长20.2%。 民航客运量263.6万人次，环比下降0.2%，比2025年同期增长8.8%。 （总台央视记者 丛威娜 唐颖） 铁路客运量预计1565万人次，环比下降8%，比202 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 担保对象及基本情况 ■ ● 累计担保情况 公司与交通银行股份有限公司江西省分行签署的《保证合同》的主要内容： 一、担保情况概述 （一）担保的基本情况 ■ 三、担保协议的主要内容 ■ 为满足子公司生产经营需要，江西长运股份有限公司（以下简称"公司"或"本公司"）于2026年2月25日 与交通银行股份有限公司江西省分行签署《保证合同》，公司为全资子公司鄱阳县长途汽车运输有限公 司（以下简称"鄱阳长运"）在交通银行股份有限公司江西省分行办理流动资金借款形成的债务提供保证 担保，担保的主债权本金余额最高额为人民币800万元，保证期间为：自该笔债务履行期限届满之日 （或债权人垫付款项之日）起，计至全部主合同项下最后到期的主债务的债务履行期限届满之日（或债 权人垫付款项之日）后三年止，担保方式为连带责任保证。 公司2025年度为鄱阳长运在综合授信额度内贷款提供的新增担保额度为3,000万元。本次担保前，公司 为鄱阳长运已提供的担保余额为900万元。截至公告披露日，公司已实 ...

春节假期全省高速公路累计车流量约6969.83万车次，日均车流量约774.43万车次，同比增长13.94%， 车流量最高峰在2月23日（初七）约1005.64万车次，创历年春节假期单日车流量最高纪录。港珠澳大桥 车流量21.35万车次（日均约2.37万车次），同比增长23.26%，车流量最高峰在2月21日（初五）约2.95 万车次，继2月19日突破2.7万车次、2月20日约2.71万车次后，连续三天创历史新高；深中通道车流量 118.24万车次（日均约13.14万车次），同比增长6.78%，车流量最高峰在2月22日（初六）约16.73万车 次。 接下来，全省交通运输部门将继续紧盯"天气变化"和"大客流变化"趋势，会同各方持续抓好保安全、保 畅通、优服务工作，加强每日研判、值班值守和应急调度，确保实现"平安、便捷、温馨"的春运目标。 据广东省交通运输厅消息，今年春节假期（2月15日—23日）全省交通运输总体平稳有序，跨区域人员 流动量达27550.54万人次，日均约3061.17万人次，同比增长13.85%。其中，珠江游、琼州海峡客滚运 输和港珠澳大桥、机场、铁路等多项交通数据创历史或春运新高，未发生行业安全生 ...

2026年春节假期，全社会跨区域人员流动量累计超28亿人次，创历史新高。随着春节假期结束，学子返 校、务工返岗、旅游返家……亿万人带着暖意与期待，踏上了返程路。为了让旅客顺利抵达目的地，各 相关部门协同发力，聚焦各方需求，全力护好返程路。本报记者深入一线，在机场、火车站、港口、高 速公路收费站等交通场站，感受春运一线工作者的坚守与奉献，记录旅客们返程途中的新体验。 ——编 者 内蒙古鄂尔多斯以数字化赋能候车体验 坐火车，感受无缝换乘 本报记者 张 枨 "出了火车站直接坐公交车，等候区还有防风保暖棚，不怕倒春寒了！"2月23日，内蒙古鄂尔多斯站站 前广场，刚下火车的旅客张锋说。中国铁路呼和浩特局集团有限公司鄂尔多斯车务段持续完善"暖行驿 站"服务举措，以数字化赋能候车体验，通过跨部门联动畅通换乘环节，让旅客的返程之路更加顺畅舒 心。 针对返程客流高峰，该车务段开发了"暖心出行指南"二维码，旅客通过手机扫码输入车次，便能获取对 应检票口、站台的实景导航；动态增开检票通道、售票窗口，减少旅客排队等待时间，进一步提升通行 效率。针对旅客多样化需求，"暖行驿站"提档升级，增配多功能热水器、热风幕、电子投影、地标指 引、 ...

2月24日，丙午马年首个工作日，广东省委、省政府在广州召开全省高质量发展大会，擂响奋进战鼓， 发出实干强音。 刚刚过去的春节假期，广州人财两旺，热气腾腾。南都N视频记者从广州市交通运输部门了解到，春节 假期9天（2月15日至2月23日），离穗抵穗人员流动量累计约为3501.1万人次，日均389万人次，同比增 长9.5%，其中：营业性客运量（铁路、民航、公路和水路四种运输方式）累计到发旅客约1241.1万人 次，日均137.9万人次，同比增长20.3%；自驾车离穗、抵穗人员累计约2260万人次，日均251.1万人 次，同比增长4.4%。 亮眼数据也反映出枢纽功能对人流车流物流高效顺畅流动的强支撑，从而激活城市经济、产业、消费活 力。在春运期间，广州市交通运输部门通过优化枢纽衔接，在保障大客流安全有序出行的同时，也为服 务"广货行天下"专项活动提供坚实交通支持，加速了人才、资金、技术的跨区域高效流动，全力保障春 运期间"人享其行、物畅其流"的出行与物流环境，为区域协同发展与城乡融合发展持续注入强劲动力， 也为广州经济高质量发展筑牢坚实交通基础。 接下来，广州市交通运输部门将抢抓机遇、真抓实干，聚焦项目攻坚，科学编 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The high - frequency data during the 2026 Spring Festival shows that the "quantity" of travel and tourism consumption continued to recover, but the price recovery lagged; the logistics was differentiated, with strong foreign trade resilience and weak production and consumption logistics; the volume of hotels and scenic spots increased while the price decreased, and the box office was weak; the real - estate market continued to be under pressure, with weak transactions in both new and second - hand housing. With the price increase in the second half of last year and the carry - over effect, it is highly likely that the subsequent fundamentals will shift from "trading price for volume" to "trading volume for price". Currently in a low - interest - rate environment in China, minor fundamental changes have limited impact on the bond market, and the view of a volatile bond market is maintained. The short - end of the bond market depends on the central bank, and the carry - trade strategy may continue. The long - end, especially the 30 - year treasury bond, needs to focus on fiscal efforts and the bank's carrying capacity. In the medium - term, the inflation theme should be monitored [1][4][7][77]. 3. Summary by Relevant Catalogs 3.1. Travel: Long holidays release travel demand, and self - driving travel is popular - The demand for family visits and tourism during the Spring Festival was continuously released, and the overall passenger volume remained high. As of the sixth day of the first lunar month, during the first 21 days of the Spring Festival travel rush, the overall passenger volume increased by 6.0% year - on - year. Among different transportation modes, the waterway had the highest growth rate, with railway, civil aviation, highway, and waterway passenger volumes increasing by 5.3%, 5.5%, 6.0%, and 23.1% respectively [10]. - The cross - regional population flow during the Spring Festival travel rush in 2026 reached a new high in recent years, with a significant increase in travel willingness. The peak occurred on the sixth day of the first lunar month, with a 12.3% increase compared to 2025, a 20.6% increase compared to 2024, and a 46.9% increase compared to 2019 [10]. - There was an obvious characteristic of off - peak travel before the festival. The growth compared to 2025 was mainly concentrated in the post - festival peak, while the improvement compared to 2024 started from the 24th day of the twelfth lunar month. The growth compared to 2019 was throughout the whole period, indicating that the long holiday catalyzed the release of residents' travel demand [11]. - The travel choices during the Spring Festival travel rush in 2026 were dominated by self - driving, reflecting residents' preference for short - distance travel. The proportion of non - commercial highway (mainly private cars) flow reached 81.6%, a 11.9 - percentage - point increase compared to 2019 [18]. - The domestic flight volume, passenger volume, and occupancy rate remained prosperous, but the price recovery was weak, and the pattern of "trading price for volume" was difficult to reverse in the short term. The domestic flight volume increased by 4.0% year - on - year, the passenger volume increased by 6.5%, the occupancy rate increased by 1.2%, and the domestic oil - included ticket price decreased by 1.5% [22]. 3.2. Logistics: Foreign trade shows resilience, while production and consumption logistics weaken in advance - The national logistics near the Spring Festival in 2026 showed a pattern of "strong foreign - trade resilience, high - then - low production logistics, and early - weakening consumption logistics". The container throughput maintained a year - on - year positive growth of 9.3% - 12.2% in the four weeks before the festival, but the growth rate of the monitored port cargo throughput fluctuated and declined [34]. - The production logistics was high in the early stage and low in the later stage. The national highway truck traffic volume increased by 4.3% and 2.6% year - on - year in the four and three weeks before the festival respectively, but the growth rate slowed down and turned negative in the last two weeks before the festival, indicating a rapid contraction of production logistics near the holiday [34]. - The consumption logistics contracted in advance. The postal express collection volume declined from 9.2% four weeks before the festival to 0.5% one week before the festival, and the delivery volume declined from 7.9% to 1.4%, suggesting that the peak of New Year goods delivery was earlier than last year [34]. - The railway transportation was stable, and civil aviation continued to grow. The national railway freight volume fluctuated slightly around zero, and the civil aviation flight volume maintained a positive growth of 4.8% - 6.0% [34]. 3.3. Tourism Consumption: Hotels and Scenic Spots See Volume Increase but Price Decrease, and the Box Office is Weak - The hotel occupancy rate increased, but the price was under pressure. The occupancy rate of the overall sample of Chinese mainland hotels increased from 54.7% five weeks before the festival to 64.0% one week before the festival, a year - on - year increase of 11.7%. However, the revenue per available room (RevPAR) and the average daily rate (ADR) decreased compared to last year [40]. - The scenic spots' business improved. The number of tourists in many provincial - level key - monitored scenic spots increased significantly, and the revenue of some popular scenic spots also increased substantially. For example, the revenue of Zhangjiajie Huanglongdong increased by 79% [42][45]. - Hainan's tourism consumption recovered strongly, with both volume and price increasing. The number of passengers at Haikou Meilan Airport increased day by day, and the off - island duty - free shopping also rebounded significantly. From February 15 - 19, the shopping amount, number of people, and per - capita consumption were 13.8 billion yuan, 17.7 million person - times, and 7,797 yuan respectively, with year - on - year increases of 19%, 24.6%, and - 4.5% [45]. - The Spring Festival movie market had a weak performance in both volume and price. The 7 - day cumulative box office from New Year's Eve to the sixth day of the first lunar month was 5.09 billion yuan, with a recovery rate of only 86% compared to 2019, and the average ticket price decreased by 5% year - on - year [47]. 3.4. Real Estate: Both New and Second - hand Housing Transactions are Weak, and the Volume and Price in First - tier Cities are Declining - The new - housing market had a significant decline in transaction volume. The transaction area of commercial housing in 30 large and medium - sized cities in the two months before the Spring Festival in 2026 was significantly lower than the same period in the past five years. In the first week before the festival, it was only 1.102 million square meters, a year - on - year decrease of 36.6%, and during the Spring Festival week, it was 83,000 square meters, a year - on - year decrease of 20.4% [61]. - The second - hand housing market was weak in both volume and price. The 7 - day moving average (7DMA) of the second - hand housing transaction area in 12 cities was only 247,200 square meters in the first week before the Spring Festival, a year - on - year decrease of 15.3%. The national second - hand housing listing price index continued to decline, with a 7.0% year - on - year decrease in the first week before the festival [61]. - The land market was also sluggish. The premium rate of land transactions in 100 large and medium - sized cities was 2.42% in the first week before the festival, significantly lower than 9.86% in the same period last year [62]. 3.5. How will the Bond Market Price the Spring Festival Holiday Data? - The real - estate market is still in a downward pressure channel, with weak sales volume and price, especially in some first - tier cities where housing prices may decline at an accelerated pace. The consumer data shows a rapid recovery in volume but pressure on prices, continuing the "trading price for volume" trend. With the price increase in the second half of last year and the carry - over effect, it is likely that the fundamentals will shift from "trading price for volume" to "trading volume for price" [77]. - In the current low - interest - rate environment in China, minor fundamental changes have limited impact on the bond market. The view of a volatile bond market is maintained. The short - end of the bond market depends on the central bank, and the carry - trade strategy may continue. The long - end, especially the 30 - year treasury bond, needs to focus on fiscal efforts and the bank's carrying capacity. In the medium - term, the inflation theme should be monitored [77].

（来源：南京晨报） 转自：南京晨报 晨报讯（南京晨报/爱南京记者 陈彦）昨天下午，南京市交通运输局公布春假假期客流出行情况。据 悉，从2月15日至2月23日，南京包括铁路、民航、长途汽运共发送旅客247.5万人次，同比增长12.9%， 到达旅客249.5万人次，同比增长14.2%。 其中，铁路发送旅客191.3万人次，同比增长15.6%，到达旅客200.7万人次，同比增长17.5%；民航发送 旅客45.4万人次，同比增长4.7%，到达旅客44.7万人次，同比增长5.6%；长途汽运发送旅客10.7万人 次，同比增长4.7%，到达旅客4.1万人次，同比下降22.9%。城市公共出行方面，9天里共有3443.5万人 次出行，同比增长8.2%。其中，公交出行762.8万人次，同比增长3.6%；地铁出行1975.9万人次，同比 增长22.2%；有轨出行6.0万人次，同比增长38.9%；出租出行691.7万人次，同比2025年下降15.4%。 ...

（来源：千龙网） 记者从北京市交通委获悉，2026年春节假期，北京全市交通整体运行呈现进出京客流上升、市内公共交通客运量上升、城市路网交通指数下降的"两升一 降"态势。 其中，假期北京全市进出京客运总量达2940万人次，同比增长15.9%；市内公共交通日均客运量731万人次，同比上升3.3%，迎来2025年以来首次长假同比 增长。 2月23日，北京站出租车上客区，旅客有序候车、上车。 摄影/新京报记者 王贵彬 市内交通 市内公共交通客运量春节期间逆势上升 据统计，春节假期，北京市城际与市内交通运行质效同步提升。城际交通方面，假期北京全市进出京客运总量达2940万人次，同比增长15.9%，其中公路自 驾出行占比过半。客流空间分布高度集中，河北、天津、山东位列进出京客流来源地前三，占比超七成，充分彰显出京津冀及周边地区春节探亲访友、进京 旅游的强劲出行需求。 市内交通方面，假期市内庙会游园等文旅活动丰富多彩，叠加地铁、公交便捷的服务保障，公共交通吸引力显著提升。假期市内公共交通日均客运量731万 人次，同比上升3.3%，迎来2025年以来首次长假同比增长；城市路网运行持续保持畅通，高峰平均交通指数1.81，同比下 ...