Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook for its stock performance relative to the market [5]. Core Insights - The company is expected to achieve a net profit of 800-1,000 million yuan in 2025, marking a significant turnaround from previous losses, with a year-on-year increase of 2.5-2.7 billion yuan [3]. - The company anticipates a non-recurring net profit of 130-190 million yuan for 2025, reflecting a year-on-year increase of 408-414 million yuan [3]. - The report highlights that the company is increasing its passenger capacity and optimizing its cargo operations, which are expected to enhance profitability [5]. - The decline in oil prices is projected to improve cost structures, with a significant foreign exchange gain expected due to the appreciation of the yuan against the dollar [5]. - The report suggests that the aviation industry is entering a golden investment era, driven by supply-demand mismatches and increasing international travel demand [5]. Financial Data and Profit Forecast - Total revenue for 2025 is projected at 179.291 billion yuan, with a year-on-year growth rate of 2.9% [4]. - The net profit for 2025 is forecasted at 702 million yuan, with a substantial increase of 598.7% compared to the previous year [4]. - Earnings per share (EPS) for 2025 is estimated at 0.05 yuan, with a significant increase expected in subsequent years [4]. - The gross profit margin is projected to improve from 9.8% in 2025 to 16.9% by 2027 [4]. - Return on equity (ROE) is expected to rise from 2.5% in 2025 to 22.1% by 2027 [4].

格隆汇1月31日｜据澎湃，时隔五年，南航预计在三大航中率先实现年度扭亏。截至1月30日晚间，中国 国航、中国东航、南方航空、海航控股、华夏航空集中披露完2025年度业绩预告。其中，南航和海航预 计实现年度扭亏为盈，华夏航空净利润同比扩大，东航亏损同比收窄，而国航亏损同比扩大。 ...

Company News - Great Wall Motors (02333.HK) expects a total revenue of RMB 222.79 billion in 2025, representing a year-on-year increase of 10.19%. However, net profit is projected to decline by 21.71% to RMB 9.912 billion due to increased investments in new user channels and marketing for new models and technologies [2] - China Southern Airlines (01055.HK) anticipates turning a profit in 2025, with net profit expected to be between RMB 800 million and RMB 1 billion [2] - CICC (03908.HK) forecasts a net profit of RMB 8.542 billion to RMB 10.535 billion in 2025, reflecting a year-on-year increase of 50% to 85% [3] - Datang Power (00991.HK) projects a net profit of approximately RMB 6.8 billion to RMB 7.8 billion in 2025, indicating a year-on-year increase of about 51% to 73% [4] - Rongchang Bio (09995.HK) expects 2025 revenue of approximately RMB 3.25 billion, a year-on-year increase of about 89%, and a net profit of around RMB 716 million, achieving profitability [4] - Haijia Medical (06078.HK) anticipates revenue of approximately RMB 4.0 billion to RMB 4.05 billion in 2025, a year-on-year decrease of about 9% to 10%, with net profit expected to decline by 66% to 76% to around RMB 140 million to RMB 200 million [4] - Junshi Biosciences (01877.HK) expects 2025 revenue of around RMB 2.5 billion, a year-on-year increase of approximately 28.32%, with a net loss of about RMB 873 million, a reduction of 31.85% compared to the previous year [4] - Kaisa New Energy (01108.HK) issued a profit warning, expecting a year-on-year increase in net loss of approximately RMB 90.07 million to RMB 290 million [4] - Xingye Alloy (00505.HK) issued a profit warning, anticipating a year-on-year decrease in profit attributable to equity shareholders of about 50% [4] - Fudan Zhangjiang (01349.HK) issued a profit warning, expecting a net loss of approximately RMB 120 million to RMB 180 million in 2025 [4] - Chenming Paper (01812.HK) issued a profit warning, expecting a net loss of RMB 8.2 billion to RMB 8.8 billion, a significant increase compared to the previous year [5] - Tianqi Lithium (09696.HK) has commenced production of the first batch of standard chemical-grade lithium concentrate products from its third-phase expansion project [6] Financing and Buyback Activities - Xiaomi Group-W (01810.HK) repurchased approximately 4.2 million shares for about HKD 150 million, with repurchase prices ranging from HKD 35.13 to HKD 42.50 [10] - Vitasoy International (00345.HK) repurchased shares worth HKD 24.37 million, acquiring 3.492 million shares at prices between HKD 6.9 and HKD 7 [11] - Yujian Xiaomian (02408.HK) plans to repurchase up to HKD 100 million of H-shares [12] - Nanshan Aluminum International (02610.HK) completed a placement of 31 million shares, raising approximately HKD 1.987 billion [12]

2025年，民航业发展仍面临较多挑战，外部环境不确定性上升，供应链紧张局面仍是全行业面临的重大 挑战，飞机、航材、发动机涨价带来的生产经营压力持续扩大。公司积极主动作为，抢抓市场机遇，精 准投放运力，优化客货经营布局，强化精益成本管控，狠抓提质增效，经营效益持续改善，2025年度归 属于上市公司股东的净利润及归属于上市公司股东的扣除非经常性损益的净利润均实现扭亏为盈。 智通财经APP讯，中国南方航空股份(01055)公布，预计公司2025年度将实现扭亏为盈，实现归属于上市 公司股东的净利润为人民币8亿元到人民币10亿元。预计归属于上市公司股东扣除非经常性损益后的净 利润为人民币1.30亿元到人民币1.90亿元。 ...

格隆汇1月30日丨中国南方航空股份(01055.HK)公告，经公司财务部门初步测算，预计公司2025年度将 实现扭亏为盈，实现归属于上市公司股东的净利润为人民币8亿元到人民币10亿元。 2025年，民航业发展仍面临较多挑战，外部环境不确定性上升，供应链紧张局面仍是全行业面临的重大 挑战，飞机、航材、发动机涨价带来的生产经营压力持续扩大。公司积极主动作为，抢抓市场机遇，精 准投放运力，优化客货经营布局，强化精益成本管控，狠抓提质增效，经营效益持续改善，2025年度归 属于上市公司股东的净利润及归属于上市公司股东的扣除非经常性损益的净利润均实现扭亏为盈。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告乃由中國南方航空股份有限公司（「本公司」）根據香港聯合交易所有限公司證券 上市規則（「上市規則」）第13.09條及香港法例第571章證券及期貨條例第XIVA部項下之 內幕消息條文（定義見上市規則）而作出。 一、 本期業績預告情況 (一) 業績預告期間 2025年1月1日至2025年12月31日（「報告期」） (二) 業績預告情況 二、 上年同期業績情況 (一) 利潤總額：人民幣15.81億元。歸屬於上市公司股東的淨虧損：人民幣16.96億元。歸屬 於上市公司股東的扣除非經常性損益的淨虧損：人民幣39.48億元。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：1055） 2025年年度業績預告公告 1. 經本公司財務部門初步測算，預計本公司2025年度將實現扭虧為盈，實現歸屬於上市公 司股東的淨利潤為人民幣8億元到人民幣10億元。 2. 預計歸屬於上市公司股東扣除非經常性損益後的淨利潤為人 ...

南方航空在公告中表示，2025年，民航业发展仍面临较多挑战，外部环境不确定性上升，供应链紧张局 面仍是全行业面临的重大挑战，飞机，航材，发动机涨价带来的生产经营压力持续扩大。公司积极主动 作为，抢抓市场机遇，精准投放运力，优化客货经营布局，强化精益成本管控，狠抓提质增效，经营效 益持续改善。 北京商报讯（记者 关子辰 牛清妍）1月30日，南方航空发布2025年度业绩预告，报告期内，公司将实现 扭亏为盈，归属于上市公司股东的净利润预计为8亿—10亿元。2024年净亏损16.96亿元。 ...

本期业绩预告的主要原因：2025年，民航业发展仍面临较多挑战，外部环境不确定性上升，供应链紧张 局面仍是全行业面临的重大挑战，飞机、航材、发动机涨价带来的生产经营压力持续扩大。公司积极主 动作为，抢抓市场机遇，精准投放运力，优化客货经营布局，强化精益成本管控，狠抓提质增效，经营 效益持续改善，2025年度归属于上市公司股东的净利润及归属于上市公司股东的扣除非经常性损益的净 利润均实现扭亏为盈。 格隆汇1月30日丨南方航空(600029.SH)公布，公司归属于上市公司股东的净利润预计为人民币8.00亿元 到人民币10.00亿元，归属于上市公司股东扣除非经常性损益后的净利润预计为人民币1.30亿元到人民币 1.90亿元。 ...

本期业绩预告的主要原因：2025年，民航业发展仍面临较多挑战，外部环境不确定性上升，供应链紧张 局面仍是全行业面临的重大挑战，飞机、航材、发动机涨价带来的生产经营压力持续扩大。公司积极主 动作为，抢抓市场机遇，精准投放运力，优化客货经营布局，强化精益成本管控，狠抓提质增效，经营 效益持续改善，2025年度归属于上市公司股东的净利润及归属于上市公司股东的扣除非经常性损益的净 利润均实现扭亏为盈。 格隆汇1月30日丨南方航空(600029.SH)公布，公司归属于上市公司股东的净利润预计为人民币8.00亿元 到人民币10.00亿元，归属于上市公司股东扣除非经常性损益后的净利润预计为人民币1.30亿元到人民币 1.90亿元。 ...

格隆汇1月30日｜南方航空(600029.SH)公告称，预计2025年归属于上市公司股东的净利润为8.00亿元至 10.00亿元，上年同期为亏损16.96亿元，实现扭亏为盈。公司积极抢抓市场机遇，优化客货布局，强化 精益成本管控，经营效益持续改善。 ...