The Zhitong Finance App learned that Wanlian Securities released a research report saying that the Haikan Bulk Index (BDI) has rebounded and the crude oil transportation index (BDTI) continues to be adjusted; the number of civil aviation passenger flights increased slightly month-on-month last week, passenger traffic and passenger occupancy rates have declined month-on-month, fuel prices have risen further, and the pressure on the aviation cost side is still strong; the “Double Eleven” e-commerce promotion continues to advance. Driven by the peak season in the fourth quarter, the express delivery industry volume and price are expected to rise again; dividend assets, the express delivery industry volume and price are expected to rise again. The market rebounded strongly on Friday. Dividend assets were adjusted, and the market fluctuated during the adjustment period The value of allocating related high-dividend assets within various sectors of highways, railway transportation, and ports is highlighted, and it is recommended that they be allocated on dips.
The main views of Wanlian Securities are as follows:
Market review
2026/10/19-2026/10/23, Shenwan's primary industry transportation index fell 2.90%, the Shanghai and Shenzhen 300 index fell 1.57%, and the transportation industry index outperformed the market by 1.34pct; all second-level subsectors in the transportation industry fell; in terms of the third-level transportation sub-sector, only the warehousing, logistics and road freight indices rose, while all other indices fell.
aviation
According to flight manager data, in the 43rd week (10.19-10.25), the number of passenger flights carried out by civil aviation across the country exceeded 102,000, with an average daily flight volume of about 14,598, an increase of 0.9% over the previous week, and a decrease of 3.7% from 2025. The flight operation rate was 77.1%, up 2.1 percentage points from last week; of these, the number of domestic flights was 86,211, down 4.5% from 2025. In the 43rd week, the estimated passenger volume of civil aviation was 14.15 million, down 4.7% from 2025. The average passenger occupancy rate of civil aviation was about 86.0%, down about 1.2 percentage points from the same period in 2025. In the 43rd week of 2026, the number of international passenger flights of civil aviation was 13,589, recovering overall to 91.3% in 2019, a decrease of 0.8% over the previous month.
Express delivery
From October 19 to October 25, the postal express delivery volume was about 4.319 billion units, an increase of 12.24% over the previous month; the delivery volume was about 4.245 billion units, an increase of 9.78% over the previous month.
Dividend assets
From October 19 to October 25, the national railway carried 83.21 million tons of goods, an increase of 0.53%; 56.28 million highway trucks passed through the country, a decrease of 0.54%; the monitoring port completed cargo throughput of 245.612 million tons, a decrease of 6.38% over the previous month, and completed a container throughput of 6.749 million TEUs, a decrease of 3.03% over the previous month.
shipping
As of October 23, the Baltic Dry Bulk Index (BDI) closed at 2660.00 points, up 5.9% from October 16, down 8.9% from October 16, the Crude Oil Transportation Index (BDTI) closed at 7171.00 points, down 5.1% from October 16, the refined oil transport index (BCTI) rose 18.8% from October 16, and the Shanghai Export Container Freight Index closed at 3681.34 points, up 0.05% from last week.
Risk factors: Macroeconomic growth falls short of expectations, large exchange rate fluctuations, escalation of geopolitical conflicts, sharp fluctuations in oil prices, worsening competition, and other irresistible factors.