港股航空股盘中持续走强，中国国航(00753.HK)、中国东方航空股份(00670.HK)均大涨超8.5%，南方航 空(600029.SH)涨超8%，北京首都机场(00694.HK)涨超4%，国泰航空(00293.HK)涨超2%。 ...

Group 1 - Hong Kong aviation stocks experienced a significant rise at the beginning of trading, with China National Aviation (00753.HK) increasing by over 6% [1] - China Southern Airlines (01055.HK) and Beijing Capital International Airport (00694.HK) both saw gains of over 4%, while China Eastern Airlines (00670.HK) rose nearly 4% [1] - The appreciation of Asian currencies during the May Day holiday is expected to help airlines reduce transportation costs [1]

Performance Summary - Industrial and Commercial Bank of China (01398.HK) reported Q1 revenue of 204.688 billion yuan, a decrease of 2.61% year-on-year, and a net profit of 84.156 billion yuan, down 3.99% [3] - China Construction Bank (00939.HK) had Q1 operating income of 185.99 billion yuan, down 4.76% year-on-year, with a net profit of 83.351 billion yuan, also down 3.99% [3] - Agricultural Bank of China (01288.HK) achieved Q1 revenue of 186.735 billion yuan, an increase of 0.32% year-on-year, and a net profit of 71.931 billion yuan, up 2.2% [3] - Bank of China (03988.HK) reported Q1 revenue of 164.911 billion yuan, an increase of 2.41% year-on-year, but a net profit of 58.644 billion yuan, down 2.22% [3] - Postal Savings Bank of China (01658.HK) had Q1 revenue of 89.406 billion yuan, a slight decrease of 0.1%, and a net profit of 25.246 billion yuan, down 2.62% [3] - China Merchants Bank (03968.HK) reported Q1 revenue of 83.731 billion yuan, down 3.11% year-on-year, with a net profit of 37.286 billion yuan, down 2.08% [3] - Bank of Communications (03328.HK) had Q1 net operating income of 66.44 billion yuan, down 1.13%, but a net profit of 25.372 billion yuan, up 1.54% [3] - HSBC Holdings (00005.HK) reported Q1 revenue of 17.649 billion USD, down 14.95%, and a post-tax profit of 7.57 billion USD, down 30.15% [3] - China People's Insurance Group (01339.HK) achieved Q1 revenue of 156.589 billion yuan, up 12.8%, and a net profit of 12.849 billion yuan, up 43.4% [3] - China Life Insurance (02628.HK) reported Q1 revenue of 110.177 billion yuan, down 8.9%, but a net profit of 28.802 billion yuan, up 39.5% [3] - New China Life Insurance (01336.HK) had Q1 revenue of 33.402 billion yuan, up 26.1%, and a net profit of 5.882 billion yuan, up 19% [3] - China National Petroleum Corporation (00857.HK) reported Q1 revenue of 753.108 billion yuan, down 7.3%, but a net profit of 46.809 billion yuan, up 2.3% [3] - CNOOC (00883.HK) had Q1 revenue of 106.854 billion yuan, down 4.1%, and a net profit of 36.563 billion yuan, down 7.9% [3] - Huadian International Power (01071.HK) reported Q1 revenue of 26.577 billion yuan, down 14.14%, but a net profit of 1.93 billion yuan, up 3.66% [3] - China International Marine Containers (01880.HK) had Q1 revenue of 16.746 billion yuan, down 10.96%, and a net profit of 1.938 billion yuan, down 15.98% [3] - Air China (00753.HK) reported Q1 revenue of 40.023 billion yuan, down 0.11%, with a net loss of 2.044 billion yuan, an increase of 22.07% [3] - CITIC Securities (06030.HK) achieved Q1 revenue of 17.761 billion yuan, up 29.13%, and a net profit of 6.545 billion yuan, up 32% [3] - China Galaxy Securities (06881.HK) reported Q1 revenue of approximately 7.558 billion yuan, up 4.77%, and a net profit of approximately 3.016 billion yuan, up 84.86% [3] - CITIC Construction Investment Securities (06066.HK) had Q1 operating income of 4.919 billion yuan, up 14.54%, and a net profit of 1.843 billion yuan, up 50.07% [3] - Huatai Securities (06886.HK) reported Q1 revenue of approximately 8.232 billion yuan, up 34.83%, and a net profit of approximately 3.642 billion yuan, up 58.97% [3] - China Railway Construction (01186.HK) had Q1 revenue of 256.762 billion yuan, down 6.61%, and a net profit of 5.151 billion yuan, down 14.51% [3] - China Energy Engineering (03996.HK) reported Q1 revenue of 100.371 billion yuan, up 3.05%, and a net profit of 1.612 billion yuan, up 8.83% [3] - Times Electric (03898.HK) achieved Q1 revenue of 4.537 billion yuan, up 14.81%, and a net profit of 631 million yuan, up 13.42% [3] - Midea Group (00300.HK) reported Q1 revenue of 127.839 billion yuan, up 20.49%, and a net profit of 12.422 billion yuan, up 38.02% [3] - WH Group (00288.HK) had Q1 revenue of 6.554 billion USD, up 6.0%, and a profit of 364 million USD, up 20.9% [3] - Suncity Group (00880.HK) reported Q1 total revenue of 7.48 billion HKD, up 8.1%, and a net profit of 31 million HKD, turning profitable [3] - COSCO Shipping Ports (01199.HK) had Q1 revenue of 3.82 billion USD, up 14.7%, and a net profit of 839 million USD, up 33.5% [3] - Flat Glass Group (06865.HK) reported Q1 revenue of 4.079 billion yuan, down 28.76%, and a net profit of 106 million yuan, down 86.03% [3] - Zoomlion Heavy Industry (01157.HK) achieved Q1 revenue of 12.117 billion yuan, up 2.92%, and a net profit of 1.41 billion yuan, up 53.98% [3] - Ganfeng Lithium (01772.HK) reported Q1 revenue of approximately 3.772 billion yuan, down 25.43%, with a net loss of approximately 356 million yuan, narrowing by 18.93% [3] - Qingdao Port (06198.HK) had Q1 revenue of 4.807 billion yuan, up 8.51%, and a net profit of 1.402 billion yuan, up 6.51% [3] - China Shipbuilding Defense (00317.HK) reported Q1 revenue of approximately 3.641 billion yuan, up 29.73%, and a net profit of approximately 184 million yuan, up about 11 times [3] - Baiyunshan Pharmaceutical (00874.HK) had Q1 revenue of 22.473 billion yuan, down 2.06%, and a net profit of 1.821 billion yuan, down 6.99% [3] Investment Activities - New China Life Insurance (01336.HK) plans to invest no more than 10 billion yuan to subscribe to a private fund [4] - China Life Insurance (02628.HK) intends to invest 2 billion yuan to establish a partnership [4] Contract Signing - China Metallurgical Group (01618.HK) reported a new contract signing amount of 230.66 billion yuan in Q1, a decrease of 27.2% year-on-year, with overseas contracts amounting to 12.04 billion yuan, down 35.7% [5] Energy Production - Xin Tian Green Energy (00956.HK) completed power generation of 4.5442 million MWh in Q1, an increase of 10.37% year-on-year [6] - China Power (02380.HK) reported total electricity sales of 30.7477 million MWh in the first three months, up 2.59% year-on-year, with March sales of 10.9617 million MWh, up 3.95% [6] - Qingdao Port (06198.HK) achieved a total cargo throughput of 177 million tons in the first three months, up 2.9% year-on-year [6] Licensing Agreement - Fuhong Hanlin (02696.HK) entered into a licensing agreement with Sandoz AG for the commercialization of HLX13 in specified regions [6] Privatization Offer - Dingsheng Creation (00113.HK) received a privatization offer at a premium of approximately 50.63%, with a maximum cash consideration of about 1.0986 billion HKD [7] Share Buybacks - AIA Group (01299.HK) repurchased shares for 342.6 million HKD, buying back 6.2592 million shares at prices between 54.25 and 55.35 HKD [8] - J&T Express-W (01519.HK) repurchased shares for 9.2485 million HKD, buying back 1.54 million shares at prices between 5.98 and 6.03 HKD [8]

Financial Performance - Total revenue for Q1 2025 was RMB 40,023,324 thousand, a slight decrease of 0.11% compared to RMB 40,065,742 thousand in the same period last year[7] - Net profit attributable to shareholders was a loss of RMB 2,043,993 thousand, representing a decline of 22.07% from a loss of RMB 1,674,456 thousand year-on-year[7] - Basic and diluted earnings per share were both RMB -0.12, a decrease of 9.09% compared to RMB -0.11 in the same period last year[7] - The company reported a net loss of RMB 32,788,113 for the period ending March 31, 2025, compared to a net loss of RMB 30,744,120 for the same period in 2024[24] - Net profit for Q1 2025 was -2,535,241, compared to -2,001,897 in Q1 2024, indicating a worsening of approximately 26.6%[26] - The company reported a total comprehensive loss of -2,614,262 in Q1 2025, compared to -2,063,807 in Q1 2024, reflecting an increase in losses of about 26.7%[27] - Operating revenue for Q1 2025 was 23,876,695, a decrease of 2.14% compared to Q1 2024's 24,397,913[39] - Net profit for Q1 2025 was -2,156,781, compared to -1,874,550 in Q1 2024, indicating a worsening performance[39] - The company’s operating profit for Q1 2025 was -2,197,849, compared to -1,894,801 in Q1 2024, indicating continued operational challenges[39] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 11.33% to RMB 8,341,401 thousand from RMB 9,407,344 thousand in the previous year[7] - Cash flow from operating activities for Q1 2025 was 3,262,802, down 34.6% from 4,994,564 in Q1 2024[43] - Cash inflows from operating activities totaled 44,580,447 in Q1 2025, slightly lower than 44,716,587 in Q1 2024[30] - Cash and cash equivalents increased to RMB 23,305,212 as of March 31, 2025, from RMB 22,467,901 as of December 31, 2024, marking a growth of approximately 3.70%[21] - The total cash and cash equivalents at the end of Q1 2025 stood at RMB 21,771,862 thousand, slightly down from RMB 21,935,304 thousand at the end of Q1 2024[32] - The company reported a net increase in cash and cash equivalents of RMB 732,390 thousand in Q1 2025, compared to a significant increase of RMB 6,918,500 thousand in Q1 2024[32] Assets and Liabilities - Total assets at the end of the reporting period were RMB 345,163,318 thousand, down 0.18% from RMB 345,769,412 thousand at the end of the previous year[9] - The total liabilities as of March 31, 2025, were RMB 306,832,371, compared to RMB 304,824,203 as of December 31, 2024, representing an increase of approximately 0.66%[23] - Current assets decreased to RMB 16,568,932 thousand as of March 31, 2025, from RMB 17,354,179 thousand as of December 31, 2024, reflecting a decline of 4.5%[34] - Total non-current assets decreased to RMB 217,128,502 thousand as of March 31, 2025, from RMB 218,389,381 thousand as of December 31, 2024, a decrease of 0.6%[35] - Owner's equity decreased to RMB 49,144,037 thousand as of March 31, 2025, down from RMB 51,300,818 thousand as of December 31, 2024, a decline of 4.2%[37] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 151,206[15] - The largest shareholder, China National Aviation Holding Company, held 42.53% of the shares, with 854,700,854 shares frozen[17] - The major shareholders collectively hold 53.71% of the company's shares, with China Aviation Group being the largest shareholder[18] Operating Costs and Expenses - Total operating costs increased to 44,421,862 in Q1 2025 from 43,614,326 in Q1 2024, representing a year-over-year increase of approximately 1.84%[25] - The company incurred sales expenses of 1,741,182 in Q1 2025, marginally higher than 1,740,842 in Q1 2024[25] - Research and development expenses remained stable at 85,246 in Q1 2025 compared to 85,305 in Q1 2024[25] - Research and development expenses for Q1 2025 were 36,966, a slight decrease from 38,241 in Q1 2024[39] - Interest expenses for Q1 2025 were 875,749, down from 1,039,229 in Q1 2024, reflecting a reduction in financing costs[39] Investment Activities - Cash inflow from investment activities totaled RMB 509,314 thousand in Q1 2025, up from RMB 358,112 thousand in Q1 2024, representing an increase of 42.2%[31] - Cash outflow from investment activities increased significantly to RMB 4,723,565 thousand in Q1 2025 from RMB 2,868,384 thousand in Q1 2024, marking a rise of 64.5%[31] - The company reported a net cash outflow from investing activities of -3,045,555 in Q1 2025, compared to -1,798,943 in Q1 2024[43] Strategic Focus - The company continues to focus on expanding its market presence and enhancing its operational efficiency through strategic initiatives[19] - The total revenue for the first quarter of 2025 is yet to be disclosed, but the company is expected to provide guidance in the upcoming earnings call[24]

Financial Performance - The operating revenue for Q1 2025 was CNY 40,023,324, a slight decrease of 0.11% compared to CNY 40,065,742 in the same period last year[3] - The net profit attributable to shareholders was a loss of CNY 2,043,993, representing a decline of 22.07% from a loss of CNY 1,674,456 in the previous year[3] - The basic and diluted earnings per share were both -CNY 0.12, a decrease of 9.09% compared to -CNY 0.11 in the same period last year[3] - The weighted average return on equity was -4.64%, a decrease of 0.17 percentage points from -4.47% in the previous year[3] - The company reported a significant increase in non-recurring gains from government subsidies and other income, contributing positively to the overall financial performance despite the net loss[5] - The company reported a net loss of RMB 32,788,113 for the period, compared to a loss of RMB 30,744,120 in the previous period, reflecting a worsening of approximately 6.67%[14] - The company’s total comprehensive income for Q1 2025 was -2,614,262 thousand RMB, compared to -2,063,807 thousand RMB in Q1 2024, reflecting a worsening financial position[18] - Net profit for Q1 2025 was -2,535,241 thousand RMB, compared to -2,001,897 thousand RMB in Q1 2024, indicating a decline in profitability[18] Cash Flow and Assets - The net cash flow from operating activities decreased by 11.33% to CNY 8,341,401 from CNY 9,407,344 year-on-year[3] - Cash inflows from operating activities in Q1 2025 totaled RMB 25,058,044 thousand, down 6.20% from RMB 26,718,182 thousand in Q1 2024[28] - The total current assets amounted to RMB 41,772,386, an increase from RMB 40,687,203 as of December 31, 2024, reflecting a growth of approximately 2.66%[12] - The total non-current assets decreased to RMB 303,390,932 from RMB 305,082,209, indicating a decline of about 0.56%[13] - The total cash and cash equivalents at the end of the period stood at $7,487,197, slightly up from $7,371,111[29] Liabilities and Equity - The total liabilities as of March 31, 2025, were RMB 306,832,371, compared to RMB 304,824,203 at the end of 2024, representing an increase of approximately 0.66%[14] - The total equity attributable to shareholders decreased to RMB 43,020,170 from RMB 45,147,411, a decline of about 4.69%[14] - The total liabilities to equity ratio increased, indicating a higher leverage position for the company as of March 31, 2025[14] - The total equity as of March 31, 2025, was RMB 49,144,037 thousand, down from RMB 51,300,818 thousand as of December 31, 2024, indicating a decrease of 4.19%[25] Costs and Expenditures - Total operating costs increased to 44,421,862 thousand RMB in Q1 2025 from 43,614,326 thousand RMB in Q1 2024, an increase of about 1.8%[17] - The company's operating costs in Q1 2025 were RMB 24,236,502 thousand, an increase of 1.03% from RMB 23,989,695 thousand in Q1 2024[25] - Cash paid to employees increased to $5,185,651 from $4,750,531, reflecting a rise of about 9.1%[29] - Cash paid for taxes rose to $252,138 from $132,783, indicating an increase of approximately 89.8%[29] - Cash paid for the acquisition of fixed assets surged to $3,104,043 from $1,776,276, marking an increase of approximately 74.6%[29] Shareholder Information - The top shareholder, China National Aviation Holding Company, holds 42.53% of the shares, amounting to 7,421,462,701 shares[7] Investment Activities - Investment activities resulted in a net cash outflow of -4,214,251 thousand RMB in Q1 2025, compared to -2,510,272 thousand RMB in Q1 2024, showing increased investment expenditures[21]

Core Viewpoint - Gengxing Co., Ltd. will be subject to delisting risk warnings and other risk warnings starting from April 29, with its stock name changed to *ST Gengxing, and a daily price fluctuation limit of 5% [2][3]. Summary by Relevant Sections Delisting Risk Warning - Gengxing Co., Ltd. is facing delisting risk due to negative values in total profit, net profit, or net profit after deducting non-recurring gains and losses for 2024, along with operating revenue below 300 million yuan [3]. - The company’s audited net assets at the end of 2024 are also negative, which triggers the delisting risk warning according to the Shanghai Stock Exchange listing rules [3]. Other Risk Warning - The company will also receive other risk warnings because its net profit after deducting non-recurring gains and losses has been negative for three consecutive years, and the audit report for 2024 indicates significant uncertainty regarding its ability to continue as a going concern [5]. Financial Performance - In Q1 2025, Gengxing Co., Ltd. reported an operating revenue of 83.19 million yuan, a decrease of 53.42% year-on-year [6][7]. - The net profit attributable to shareholders was -1.53 million yuan, and the net profit after deducting non-recurring gains and losses was -1.82 million yuan [7]. - As of the end of Q1 2025, the company's net assets attributable to shareholders were -4.97 million yuan, compared to -3.44 million yuan at the end of 2024 [9]. Business Strategy - The company aims to revoke the delisting risk warning by focusing on its core business, optimizing resource allocation, and seeking new profit growth points [6]. - Gengxing Co., Ltd. has shifted its focus to bulk commodity supply chain business, particularly liquefied petroleum gas, after reducing its coal supply chain operations [6][10].

2024 年 度 報 告 | 中國國際航空股份有限公司 | | | | --- | --- | --- | | 股份代號: 00753 香港 | 601111 上海 | AIRC 倫敦 | 中國國際航空股份有限公司簡稱中國國航， 英文名稱為Air China Limited ，簡稱Air China ， 是中國唯一載國旗飛行的航空公司。 「鳳凰者，仁鳥也」「見則天下寧」。中國國航 的企業標識由一隻藝術化的鳳凰和中國改革開放 的總設計師鄧小平同志書寫的「中國國際航空公 司」以及英文「AIR CHINA」構成。鳳凰是中華民 族遠古傳說中的祥瑞之鳥，為百鳥之王。鳳凰「出 於東方君子之國，翱翔四海之外」，擷英咀華，志 存高遠。中國國航推崇的鳳凰精神的核心內涵是 「傳遞吉祥，引領群倫，超越自我」。中國國航具 有深厚的歷史積澱，身為中國民航業發展的踐行 者、推動者和引領者，秉承鳳凰精神，致力於打 造完美航程，傳遞平安吉祥，致力於引領行業發 展，打造國家名片，致力於創新進取，追求事業 輝煌。 中國國航於2004年12月15日在香港聯合交易 所有限公司（股票代碼00753）和倫敦證券交易所 （交易代碼AIRC）上市；於200 ...

从国内运力部署来看，国航新开北京-阿勒泰、北京-大连-绥芬河、温州-南充、重庆-喀什、武汉-兰州- 敦煌5条航线，复航成都-武夷山和上海-温州，加密枢纽城市与二、三线城市航班，强化区域通达性， 满足国内外旅客商务、旅游、务工、求学等多元出行需求。 同时，国航宣布即将推出国航APP的AI助手功能。该功能通过在国航APP中全新植入AI交互模块，整合 多项创新服务，全流程智慧引导。除帮助旅客"一键"完成机票查询、值机等操作，实时解答APP操作、 航班动态、行李规则等常见问题外，更能帮助旅客科学规划行程。 中新网杭州4月24日电 (陈昊星)4月24日，中国国际航空股份有限公司(以下简称"国航")在杭州举办"新启 航、智未来"——2025年产品分享会，会上对2025年夏秋航季航线的网络规划、运力安排做出新的部 署。 在分享会上，国航与行业内部人士探讨AI技术与航空业融合发展的实践路径，并展示了近年来数智化 赋能企业服务领域的最新进展，覆盖旅客出行全流程。 在会议现场，国航着重介绍了2025年夏秋航季的运力部署计划。在国际和地区方面，重点推出北京至开 罗和多伦多航线，新开北京至符拉迪沃斯托克和伊尔库茨克航线，同时在大兴机 ...

据中国民航报消息，4月23日，国航西南分公司在成都天府国际机场接收了第12架国产C909飞机，标志 着国航初步完成C909飞机在西南区域的部署。自2023年12月以来，国航在成都的C909运营基地不断扩 展，优化航线网络和飞行员培训，确保国产飞机的安全运营。目前，国航成都基地运营的C909飞机已 覆盖14条航线，助力成都国际航空枢纽的发展。 ...

目录 | 关于本报告 | 02 | | --- | --- | | 董事长致辞 | 04 | | 董事会 ESG 声明 | 06 | | C919 引进大事记 | 08 | | 走进国航 | 10 | | 2024 ESG 核心绩效 | 16 | | 荣誉奖项 | 18 | | 联合国 2030 可持续发展目标 | 20 | 可持续发展管理 01 03 06 ESG 治理体系 利益相关方沟通 重要性议题判定 公司治理 风险管理 反贪腐与商业道德 责任供应链 创新驱动 知识产权保护 平等对待中小企业 数字化转型 24 26 29 30 35 39 42 44 46 46 46 安全运营 05 02 | 安全管理 | | --- | | 保障旅客安全 | 低碳发展 | 环境管理与生态保护 | 05162 | | --- | --- | | 应对气候变化 | 64 | | 资源利用 | 75 | | 污染防治 | 78 | 品质服务 服务质量管理 客户体验优化 04 07284 84 89 | 员工发展 | | --- | | 员工雇佣与权益 | | 员工培训与发展 | | 员工健康与安全 | | 08294 | ...