结果早上醒来一看美股插了个大阴棒，这高开低走的力度跟a股不遑多让。 | | 纳斯达克100指数ETF 均价:429.570 最新:416.060 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 443.138 | | | | | | | 4.59% | | 438.276 | | | | | | | 3.44% | | 433.414 | | | | | | | 2.30% | | 428.552 | | | | | | | 1.15% | | 423.690 | | | | | | | 0.00% | | 418.828 | | | | | | | 1.15% | | 413.966 | | | | | | | 2.30% | | 409.104 | | | | | | | 3.44% | | 404.242 | | | | | | | 4.59% | | 513.74 | | | | | | | 513.74 | | 342.49 | | | | | | | 342.49 | | 171.25 | | | | | | | ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [5]. Core Views - The Shanghai aviation transportation market is entering a phase of accelerated recovery, with the company expected to achieve significant year-on-year growth in 2024 [2]. - The company reported an estimated operating revenue of 12.369 billion yuan for 2024, representing a year-on-year increase of 11.97%, and a net profit attributable to shareholders of 1.934 billion yuan, reflecting a substantial growth of 107.05% [1][4]. - The company is actively expanding its market presence through joint marketing efforts with domestic and international airports and airlines, aiming to restore international flights and develop new routes [2]. Summary by Sections Financial Performance - For Q4 2024, the company anticipates an operating revenue of 3.178 billion yuan, a year-on-year increase of 1.7%, and a net profit of 732 million yuan, which is a 67.5% increase year-on-year [1]. - The company’s operating revenue and net profit forecasts for 2024-2026 have been adjusted downward due to slower-than-expected recovery in overseas routes and limited recovery in duty-free business [3]. Market Dynamics - The passenger throughput at Shanghai's two airports exceeded 124 million in 2024, setting a new historical record, while cargo and mail throughput surpassed 4.2 million tons, exceeding 2019 levels [2]. - The report highlights the strong recovery trend in the aviation market, particularly at Pudong Airport, which saw a 5.4% increase in aircraft movements and an 11.8% increase in passenger throughput in early 2025 [2]. Strategic Initiatives - The company is focusing on the integrated development of the Yangtze River Delta, enhancing regional collaboration and intermodal connectivity, and advancing the construction of a world-class aviation hub network [3].

Core Points - The article highlights the volunteer activities conducted by youth volunteers at Kunming Changshui International Airport during March, emphasizing the spirit of helping others and community service [1][2][4][6][10] Group 1: Volunteer Activities - Youth volunteers engaged in various activities, including teaching at a school for disabled and left-behind children, providing health check-ups, and conducting safety education [2][4][10] - The volunteers implemented a "delayed satisfaction mechanism" to continuously support the children's wishes, aiming to transform material assistance into spiritual nourishment [2] - The airport's security team integrated volunteer service with their daily operations, offering personalized assistance to travelers, especially the elderly and children [4][5] Group 2: Health and Safety Initiatives - Medical volunteers conducted free health check-ups for travelers, focusing on middle-aged and elderly individuals, and provided personalized health advice [10] - The airport's emergency response team demonstrated effective service during emergencies, ensuring the safety and comfort of travelers [6] Group 3: Environmental Initiatives - Youth volunteers participated in ecological activities, such as planting flowers and promoting environmental awareness, contributing to the airport's green initiatives [7]

此外，在夏秋航季，深圳往返韩国济州、日本大阪、新加坡、越南河内等国际及地区客运航线航班频次 也将增加，每周共增加20余班，以满足旅客前往东南亚、东北亚等区域的出行需求。在航班时刻调整方 面，新加坡航空将深圳—新加坡航线出港的航班提前1小时至02:15出港，以缩短旅客在凌晨时段的等待 时间，为中转旅客快速衔接后续航班以及公商务旅客抵达后的行程安排留出更为充裕的时间，提升出行 的效率和舒适度。 新京报讯 据深圳机场（000089）消息，根据民航航班换季安排，深圳机场从3月30日起开始执行夏秋航 季航班计划。新航季，深圳机场计划新开及加密航线接近30条，每周计划执行航班量（含客货航班）将 超过9200架次，其中客运航班约8200架次，货运航班约1000架次，日均航班量将超过1300架次。 夏秋航季是传统的旅游旺季，叠加劳动节、国庆节等假期，将持续释放出行需求潜力。国内航线方面， 深圳机场将新增甘肃陇南、新疆石河子两个国内客运新航点，进一步织密中西部航线网络，便利两地人 员往来，促进两地经济文化交流。上述两条新航线开通后，深圳机场国内通航点增至约120个，覆盖全 国主要经济圈及热门旅游目的地。 国际航线方面，深圳机场 ...

Group 1 - The Shanghai Composite Index decreased by 0.46%, while the CSI 300 Transportation Infrastructure Index reported at 1340.72 points [1] - The CSI 300 Transportation Infrastructure Index fell by 0.91% over the past month, 5.99% over the past three months, and 5.06% year-to-date [2] - The CSI 300 Index categorizes its 300 sample companies into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [2] Group 2 - The CSI 300 Transportation Infrastructure Index has a market composition of 70.35% from the Shanghai Stock Exchange and 29.65% from the Shenzhen Stock Exchange [2] - Within the CSI 300 Transportation Infrastructure Index, the airport sector accounts for 44.49%, highways for 37.77%, and ports for 17.74% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day following the second Friday of June and December [3]

这个周末我摄入的信息里，最有意思的是金沙创投朱啸虎的一篇采访，它起了一个比较醒目的标题：《我们正批量退出人形机器人公司》。 朱啸虎在创投圈名声很响，因为他不但投的准，压中了多个独角兽，更难得的是他卖的也挺准。他最著名的两个案例是滴滴和小黄车ofo，早期进 入，然后中间在估值高峰期果断退出股份，先后避开了网约车的政策转向，以及共享单车的行业大崩盘。 就是这么一个人，说目前批量退出人形机器人公司，让我很感兴趣他是怎么思考的。 朱啸虎的理由主要是两个： 人型机器人商业化路径不清晰 缺乏真实可持续的客户需求，现有客户多为高校研究机构、竞争对手或展示用途（如央企购买作前台展示），并非可持续的商 业化场景。 市场共识过高 行业估值因市场情绪快速上涨，但商业化能力未得到验证，多年从业经验告诉他这种时候该撤了。 说白了一句话，就是这些机器人公司估值涨太多了，但是又没想好怎么挣钱。 大致就这些，诸位也不必过于在乎他的观点，我前面没说朱啸虎也有不成功的交易，他卖小红书就卖的太早，踏空了后面巨大的利润空间。他这 次抛出的观点可以作为参考，尤其是现在全市场对人型机器人几乎全是溢美之词，很难看到泼冷水的话。 他提到的那两点，起码市场共 ...

Investment Rating - The report maintains an "Outperform" rating for Hainan Airport, indicating a positive outlook for the company's stock performance relative to the market [3][7]. Core Insights - The increase in shareholding by the controlling shareholder, Hainan Airport Group, signals confidence in the company's future development and strategic value as a hub in Hainan Free Trade Port [7]. - The company's short-term performance is under pressure, but profitability is expected to improve in the long term as it focuses on its core airport operations [7]. - The ongoing expansion of Sanya Phoenix International Airport is a key project that will enhance the company's operational capacity and growth potential [7]. - Adjustments to profit forecasts for 2024 and 2025 reflect the impact of previous high revenue from real estate and the slow recovery of duty-free consumption [7]. Financial Data and Profit Forecast - Total revenue for 2023 is projected at 6,762 million, with a significant decrease expected in 2024 to 5,106 million, reflecting a year-on-year decline of 24.5% [6][9]. - The net profit attributable to the parent company is expected to drop to 462 million in 2024, a decrease of 51.6% compared to the previous year [6][9]. - The company's gross margin is forecasted to decline from 48.9% in 2023 to 35.6% in 2024, with a gradual recovery expected thereafter [6][9]. - The estimated target market value for 2025 is projected to be 448 billion, based on a sum of valuations from its core airport and duty-free businesses [7].

Financial Performance Summary - In 2024, the total operating revenue reached 12.37 billion yuan, an increase of 11.97% compared to the previous year [1] - Operating profit was 2.72 billion yuan, showing a significant growth of 97.24% year-on-year [1] - Total profit amounted to 2.71 billion yuan, reflecting a 95.57% increase from the previous year [1] - Net profit attributable to shareholders was 1.93 billion yuan, with a year-on-year growth of 107.05% [1] - Basic earnings per share increased to 0.78 yuan, representing a 105.26% rise [1] - The weighted average return on equity improved to 4.69%, up by 2.36 percentage points [1] Operational Highlights - The company achieved a record high in passenger throughput, exceeding 1.24 billion passengers, marking a significant recovery post-pandemic [1] - Cargo and mail throughput surpassed 1 million tons, exceeding the levels seen in 2019 [1] - The increase in operating revenue was attributed to strict cost control and compensation received for property requisition [1]

Core Viewpoint - The China Securities Shanghai State-Owned Enterprises Index has experienced a decline, reflecting the overall performance of state-owned enterprises in Shanghai, with significant weight in financial and industrial sectors [1][2][3]. Group 1: Index Performance - The China Securities Shanghai State-Owned Enterprises Index fell by 0.16%, closing at 1328.54 points with a trading volume of 14.863 billion yuan [1]. - Over the past month, the index has decreased by 2.10%, by 6.29% over the last three months, and by 6.30% year-to-date [2]. Group 2: Index Composition - The top ten weighted stocks in the index include China Pacific Insurance (8.2%), Shanghai Airport (6.3%), Guotai Junan Securities (5.49%), Shanghai Bank (4.77%), and Shanghai Electric (3.57%) [2]. - The index is composed entirely of stocks listed on the Shanghai Stock Exchange, with financials making up 28.18%, industrials 23.95%, and consumer discretionary 12.50% of the holdings [3]. Group 3: Index Adjustment and Management - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [3]. - In special circumstances, the index may undergo temporary adjustments, such as removing stocks that are delisted or adjusting for mergers and acquisitions [3].

鹮游中国 首乘易行 汉中机场持续打造民航服务新质 生产力 在民航服务领域，首次乘机旅客往往面临流程陌生、操作复杂等难题。为破解这一痛点，汉中机场认真 落实民航西北地区管理局首乘服务系列活动要求，依托"汉中出发 鹮游中国"服务品牌，创新推出"首乘 易行"服务产品，通过数字化赋能、全流程陪伴和精准化服务，开启了民航服务新质生产力的积极探 索，得到了广大旅客的好评。 破局行业痛点，构建1+7服务矩阵 全流程标准化服务。通过制定"主动识别、主动引导、主动服务"三个主动服务工作思路，持续打造"1站 4点"的首乘工作场景，形成了"一眼能看到，一问就知道、一站能办理、一路有陪伴"的标准化服务流 程。 全岗位服务规范。在严格落实首问责任制的基础上，以客运服务岗位通岗作业技能提升为抓手，将首乘 服务操作规范纳入员工的SOP手册中，通过制定标识到位、话语到位、表情到位、手势到位、引导到 位、交接到位、信息到位的"7个到位"服务标准和实施全员首乘服务绩效考核，服务品质得到持续提 升。 全链条服务延伸。针对首次发货、提货的客户，汉中机场从费用优惠、时间缩短、专人接待等环节提升 服务体验，针对许多本地农民选择空运发送农副产品多的情况， ...