技术自主化与产品创新，是白鲸航线新质生产力的核心底色。作为低空经济领域的标杆企业，白鲸航线立足支线航空货运市场需求，正向设计研发的W5000 无人货运大飞机，实现了载重5吨、航程2600公里的性能突破，可适配国内500个通航机场运行条件，相较传统航空货运飞机成本降低50%以上。其自主研发 的智能飞行系统完成100%国产自主化，核心系统安全性达10⁻⁷/小时，与有人驾驶飞机持平且具备融合飞行能力，凭借技术突破性构建起行业核心竞争力， 也让航空货运降本增效从理念变为现实。 瞄准行业痛点创造价值，是白鲸航线新质生产力的实践落点。面对电商发展、高端制造升级带来的货运需求，以及偏远地区物流、医疗急救运输等场景的传 统物流短板，白鲸航线通过整合国内供应链，让W5000无人货运飞机成为破解民航机场飞行时刻紧张、运营成本高昂的关键方案，助力实现国内货物当日送 达的国家战略。目前这款全球最大的无人货运飞机正处于试飞取证阶段，预计2027年上半年获批适航证，已斩获500多架意向订单，其市场认可度印证了技 术创新的商业价值与社会价值。 在新质生产力成为中国经济高质量发展核心引擎的当下，低空经济作为技术创新、要素创新、产业创新深度融 ...

2月14日凌晨，郑州的大街小巷早已褪去喧嚣，郑州机场北货运站却迎来了一天最繁忙的时刻：灯火通明，运 载车辆来回穿梭，不时有飞机降落、起飞，航空货运"货"力全开。 在新郑市中欧班列集结中心东作业区，准备发往老挝万象的集装箱正在装车。 栗璋鹏 摄 1时19分，一架墨西哥奥胜航空的A332货机，载着40余吨鲜李平稳降落在停机坪上。河南航空货运发展有限 公司市场营销部经理刘嘉琳小跑上前，协调卸货、清仓、转运，不一会儿，货物就被转运到几百米外的进境 水果指定监管场地。 刚在这里忙完，刘嘉琳又匆匆赶去国际快件中心安检区。这里，9条安检线繁忙运转，安检区外几十辆不同地 区牌照的大货车正在轮流卸货。后面3万平方米的仓储区，也被来自粤港澳大湾区的电子产品、日用品以及长 三角地区的服装等跨境电商商品堆得满满当当。 "协调卸货清仓、入库、调拨……在机场几个重要货运区往返早已成为家常便饭。"刘嘉琳说，"时效是我们工 作的生命线，特别是春节这段时间，必须保证货品更快到达客户手中，从国内厂商发货起算，运到郑州机场 再抵达全球各地，通常在72小时之内就能完成。" 责任编辑： 张家祺 不久前，一家中东航司代表来郑调研，为开航做准备，看完作业 ...

列日机场位于阿姆斯特丹、巴黎和法兰克福这一"黄金三角"区域的中心，拥有极为便利的公路连接，是全球增长最快的货运枢纽之一，2025年货物吞吐量增 长了14%。近年来，阿联酋航空SkyCargo货运部已通过临时货运航班为列日机场提供服务，运输包括鲜切花、电商包裹等特殊货物，以及为全球赛事运输马 匹的包机服务。鉴于持续增长的货运需求，阿联酋航空SkyCargo货运部现在将每周运营五个定期货运航班，每周增加500吨货物运力，实现货物快速、可 靠、高效地运送。 每周五班中有三个货运航班将把列日与芝加哥奥黑尔国际机场和迪拜的阿尔马克图姆国际机场连接，运输关键性、对温度敏感的药品，确保实现无缝、高效 的冷链运输。其他两个货运航班将从中国香港出发，运输电商货物，通过列日进行转运。 阿联酋航空SkyCargo货运商务部欧洲地区副总裁Khawla Abdulla表示："将列日纳入我们的货运航线网络是一个战略性步骤，增强了我们在欧洲的业务布 局，为全球客户提供了更多的连通性。2025年，我们通过货运航班和每日两班往返布鲁塞尔的客运腹舱载货运力，运输了超过15,000吨来自比利时的货物。 随着每周五个全货运航班的投入，我们预期将迎来 ...

中新社湖北鄂州2月17日电 题：亚洲最大专业货运机场让"世界味"速达"中国年" 中新社记者 武一力 "春节不打烊！马上起飞，明天抵达！"近日，在湖北鄂州一家生鲜仓库里，数千箱榴莲垒成一个个"直 播间"，主播杨宇紧盯手机屏幕，一边扒开刚刚卸机的进口榴莲，一边与网友互动。仅需48小时，这批 鲜果便可从东南亚果园抵达中国消费者的餐桌。 这家仓库距离亚洲最大专业货运机场——鄂州花湖国际机场约1公里。夜幕降临，机场迎来作业高峰 期，十余架飞机凌晨群降、清晨群起：来自中国西北的牛羊肉、大连的草莓，进口水果、海鲜等，消费 者翘首以盼的年货在此集结。 仓库里的榴莲正是乘机从东南亚运抵。该仓库负责人黄夕皓近日接受中新社记者采访时称，进口榴莲是 走亲访友的热门伴手礼，2月以来，他所经营的榴莲销售额同比增长35%，日销售最高可达3万单。尤其 是马来西亚的树熟榴莲，今年很受欢迎。 2026年，鄂州花湖国际机场预计新建8万平方米国际货站，新增60万吨国际货物年处理能力，还将进一 步拓展海外货站布局，对接中东、非洲等全球货运核心节点，持续丰富中转产品、提升国际中转比例。 黄夕皓介绍："进口树熟榴莲是我们以前不敢想的事，果实从树上掉下来那 ...

智通财经记者 | 陈怡轩 2月12日，一架满载纺织布匹与机械部件的空客A330-200P2F客改货机从重庆江北机场启航，飞往南 亚。这架货机于1月7日投入机队，并于2026年1月30日国内首航，曾搭载新疆牛羊肉往返于乌鲁木齐与 北京。 对于空客而言，这架货机背后代表了一个重要的新客户——京东航空。据悉，该货机是京东航空货机机 队的第12架飞机，也是首架空客A330宽体客改货机，此前以波音737-800改装全货机为主。 2025年初，空客团队开始与京东接洽宽体货机引入项目。空客全球副总裁、空客中国商务负责人王璀表 示，双方共同完成了定制化商务条款解决方案、租赁协议协同及国际化资源对接。通常情况下，引进一 架宽体飞机需耗时一年多，但这次前后只用了五个月。 "近几年，空客货机在内地市场逐渐实现从0到1，从无到有的突破。"王璀指出。去年11月，6架空客 A350F货机获得最新一笔国内航司订单，买家是国货航。 空客方面告诉智通财经，目前空客在国内航司货机机队中的市场份额正持续提升。空客A350F买家除国 货航外，还有国泰和星宇航空；A330客改货机也已逐渐成为国货航、川航、江西货航的主力机型。 作为京东航空机队首款宽体 ...

Core Viewpoint - JD Logistics has launched its first Airbus A330 wide-body cargo aircraft for international flights, enhancing the air cargo network between China and South Asia, starting with a route from Chongqing to South Asia [1][7]. Group 1: Aircraft and Operations - The Airbus A330 cargo aircraft has a maximum payload of approximately 60 tons, nearly tripling the capacity of previously operated narrow-body cargo planes, thus efficiently meeting the demands for long-distance transportation and large-volume cargo transfers [3][9]. - The launch of the Chongqing to South Asia international cargo route is a significant step in JD Logistics' strategy to expand its capacity for intercontinental operations [3][9]. Group 2: Regional Impact - Chongqing is being developed as an international aviation hub, with projections for the Jiangbei International Airport to handle over 50 million passengers and over 500,000 tons of cargo by 2025 [3][9]. - The new cargo route will significantly shorten the logistics turnaround time between Sichuan-Chongqing and South Asia, reducing cross-border trade logistics costs and facilitating further opening up of the region [3][9]. Group 3: Industry and Market Integration - The Chongqing to South Asia route aligns with the industrial needs of both regions, providing stable transport capacity for domestic textile and machinery products to reach the South Asian market, while also enabling efficient transport of South Asian seafood products to Chongqing [5][10]. - JD Logistics has accelerated its overseas expansion, operating over 130 overseas warehouses with a total management area exceeding 1.3 million square meters, enhancing its cross-border fulfillment capabilities [7][10].

Core Insights - JD Logistics has launched its first Airbus A330 wide-body cargo aircraft for international flights, enhancing the air freight network between China and South Asia [1] - The A330 cargo aircraft has a maximum payload of approximately 60 tons, nearly tripling the capacity of previous narrow-body aircraft, which supports cross-border e-commerce and bulk trade logistics [1] - The new international cargo route from Chongqing to South Asia is a significant step in establishing Chongqing as an international aviation hub, aiming for over 50,000 tons of cargo throughput by 2025 [1] Group 1 - The Chongqing to South Asia international cargo route aligns with local industrial needs, providing stable transport for domestic products like textiles and machinery to South Asia [3] - The route also facilitates the import of South Asian seafood, enriching consumer choices in Chongqing and serving the central and eastern regions of China [3] Group 2 - JD Logistics has accelerated its overseas expansion, operating over 130 overseas warehouses with a total management area exceeding 1.3 million square meters [4] - The launch of the A330 wide-body aircraft further enhances JD Logistics' cross-border fulfillment capabilities, contributing to a "2-3 day delivery" service in key global markets [4]

国际航空运输协会(IATA)2025年12月全球航空货运市场数据显示，2025年全年总需求(货运吨公里，CTK)同比2024年增长3.4%(国际需求增长4.2%)。2025 年全年运力(可用货运吨公里，ACTK)同比2024年增长3.7%(国际运力增长5.1%)。2025年12月，为全年业绩持续强劲画上圆满句号。全球需求同比2024年 12月增长4.3%(国际业务增长5.5%)。全球运力同比2024年12月增长4.5%(国际业务增长6.4%)。 此外，国际航协指出，全年收益率同比下降1.5%，为近三年来最小降幅。这表明，随着供需关系逐步回归常态，新冠疫情及后疫情时期形成的异常高收 益率正在持续回落。尽管竞争加剧限制了航空货运的定价空间，但当前收益率仍较2019年水平高出37.2%。 国际航协理事长威利.沃尔什(Willie Walsh)表示："2025年航空货运表现稳健，需求同比增长3.4%。全球电商持续走强，推动货量增长；与此同时，美国相 关贸易关系却面临关税上调、低值免税政策取消以及持续的政策不确定性。在此背景下，航空货运展现出较强韧性，积极应对市场变化。随着企业在关税 落地前提前安排货物交付，以及在美亚 ...

Investment Rating - The report maintains a "Recommended" rating for key companies in the transportation sector, including SF Holding, Eastern Airlines Logistics, and Spring Airlines, among others [2]. Core Insights - The report highlights the competitive landscape in the instant retail sector, emphasizing the strategic moves by Meituan and Alibaba to enhance their market positions. Meituan's acquisition of Dingdong Maicai and Alibaba's significant promotional activities are noted as key developments [7][10]. - The instant retail market in China is projected to grow rapidly, with a CAGR of 43.6% from 2018 to 2026, potentially reaching a market size of 1.2 trillion yuan in 2026 and over 2 trillion yuan by 2030 [14][19]. - The report underscores the importance of SF Express's positioning as a leading independent third-party delivery service, benefiting from the rapid expansion of the instant delivery market and increasing demand for express services [22][34]. - In the aviation sector, the report indicates a strong performance during the Spring Festival travel period, with passenger numbers and ticket prices showing positive trends. The average ticket price for domestic economy class has increased by 4.8% year-on-year [36][44]. - The report also discusses the recovery in air cargo demand, driven by seasonal inventory replenishment ahead of the Spring Festival, and recommends focusing on leading logistics companies like Eastern Airlines Logistics [59]. Summary by Sections Instant Retail Competition - Meituan and Alibaba are intensifying their efforts in instant retail, with Meituan acquiring Dingdong Maicai for approximately 7.17 billion yuan to enhance its supply chain capabilities [12]. - The instant retail market is expected to grow significantly, with a projected market size of 1.2 trillion yuan in 2026 and over 2 trillion yuan by 2030, driven by a CAGR of 43.6% [14][19]. - The competition in the instant retail space is intensifying, with major players like Douyin and Pinduoduo entering the market, indicating a "must-win" scenario for market share [21][34]. Aviation Sector Insights - The Spring Festival travel period has seen a surge in passenger numbers, with an average of 231.34 million passengers per day, a year-on-year increase of 5.48% [7][36]. - The average ticket price for domestic economy class has risen to 840.52 yuan, reflecting a 3.06% increase compared to the previous year [44]. - The report suggests that the aviation sector is poised for growth, with favorable supply-demand dynamics expected to drive ticket prices higher [47]. Air Cargo and Logistics - Air cargo demand is rebounding, with major airlines reporting increased cargo aircraft utilization rates, indicating a seasonal recovery in logistics operations [51][55]. - The report recommends focusing on leading logistics companies like Eastern Airlines Logistics, which are well-positioned to benefit from the recovery in air cargo demand [59]. Gankimau Port Operations - The average daily traffic at Gankimau Port has increased significantly, with a year-on-year growth of 117.3% [60]. - Indonesia plans to significantly reduce coal production in 2026, which may impact global coal prices and logistics operations [72].

Group 1 - The "no-invoice tax exemption" policy has officially launched, allowing Shenzhen cross-border e-commerce companies to register for tax exemption through an online platform, emphasizing compliance and proper documentation [4] - The U.S. has reduced tariffs on Indian goods from 25% to 18% as part of a trade agreement, significantly lowering the tax burden on various export sectors, while India has agreed to halt Russian oil purchases [5] - The global air freight market is projected to grow steadily in 2025, with demand increasing by 3.4% and capacity by 3.7%, driven by e-commerce growth and shifting trade routes due to tariff uncertainties [6] Group 2 - The global container shipping market is facing downward pressure on freight rates due to geopolitical tensions in the Red Sea and seasonal demand declines, with the SCFI index dropping by 9.7% [7][9] - ONE has announced an upgrade to its FP2 shipping route, adding Haiphong, Vietnam, to enhance transport efficiency and strengthen its market position in Southeast Asia [8] - Recent operational changes at Guangzhou Port have led to strict booking policies, with freight forwarders halting new orders due to congestion and limited shipping windows ahead of the Lunar New Year [10]