Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The report highlights a significant drop in crude oil shipping rates, while long-distance shipping rates have increased. The China Import Crude Oil Composite Index (CTFI) fell by 40.6% to 1354.35 points as of December 25, 2025. Conversely, shipping rates for routes to Europe and the US have risen, with rates for Shanghai to Europe increasing by 10.2% to $1690 per TEU, and rates to the US West and East coasts rising by 9.8% and 6.6% respectively [3][13] - The report notes that Peak Flying's Kai Rui Ou eVTOL successfully completed the first ton-level unmanned cross-strait flight over the Qiongzhou Strait, demonstrating the feasibility of low-altitude transportation. Additionally, China National Airlines plans to purchase 60 Airbus A320NEO aircraft, with a total list price of approximately $9.53 billion, scheduled for delivery between 2028 and 2032 [3][14][16] - JD.com has launched its first campus "Smart Wolf" front warehouse at Guangdong Industry and Commerce Vocational Technical University, contributing to a 5.0% year-on-year growth in national social logistics total, amounting to 331.2 trillion yuan for the first 11 months of 2025 [3][22][23] Summary by Sections Industry High-Frequency Data Tracking - The Baltic Air Freight Price Index has decreased both month-on-month and year-on-year. The Shanghai outbound air freight price index was reported at 5821.00 points, showing a year-on-year increase of 9.3% but a month-on-month decrease of 8.6% [25] - Domestic cargo flight operations saw a year-on-year decline of 3.24% in December 2025, while international flights increased by 15.99% [26] - The SCFI index for container shipping was reported at 1656.32 points, with a week-on-week increase of 6.66% but a year-on-year decrease of 32.68% [35] Investment Recommendations - The report suggests focusing on the equipment and manufacturing export chain, recommending companies such as COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics. It also highlights opportunities in low-altitude economy trends and road-rail investment opportunities [4][5]

未来，京东校园前置仓模式将快速迭代。京东物流已与广东工商职业技术大学计划引入无人车进行校内 短驳，并筹备无人机配送试点，逐步构建"前置仓+无人车+无人机"的立体校园智能配送网络。 据了解，消费者下单后，"智狼"货到人系统会在近500平米的前置仓内精准定位商品，快速完成分拣与 打包，并放至前置仓。骑手取件后进入校区，最终送至消费者手中，整个过程最快10分钟。这一前置仓 不仅服务于校内师生，也实现周边5公里社区30分钟送达。 北京商报讯（记者 何倩）12月30日，北京商报记者从京东获悉，京东全国首个校园"智狼"前置仓已在 广东工商职业技术大学正式投入运营，完整打通从入库、存储、分拣到配送的全链路。 ...