Core Viewpoint - Xiamen Airlines has no definitive plans for an IPO despite speculation arising from comments made by the chairman during a recent meeting, emphasizing the need for capital operations and corporate governance optimization [1][2]. Group 1: Company Overview - Xiamen Airlines was established in 1984 and is headquartered in Xiamen, Fujian Province, being the first airline in China to operate under a modern corporate system [2]. - The airline's fleet consists of 218 aircraft, operating over 400 domestic and international routes, with an annual passenger transport volume exceeding 43 million [2]. - Over 30 million members are enrolled in Xiamen Airlines' frequent flyer program [2]. Group 2: Financial Performance - Xiamen Airlines has reversed a three-year decline in performance, achieving profitability in 2023 and 2024, with net profits of 479 million yuan and 697 million yuan respectively [2]. - In 2024, Xiamen Airlines was the second-largest contributor to profits among Southern Airlines' subsidiaries, with only two out of seven subsidiaries reporting profits [2]. Group 3: Operational Metrics - In the first half of 2025, Xiamen Airlines reported a total transport turnover of 37.9 billion ton-kilometers, passenger transport of 23.03 million, and cargo/mail transport of 117,000 tons, reflecting year-on-year growth of 13.5%, 13%, and 12% respectively [3]. - The airline's subsidiaries have all reported profitability, indicating strong operational performance [3]. Group 4: Industry Challenges - The airline faces operational pressures, including rising cost pressures and declining market revenues, with both income and cost sides under pressure [3]. - The industry is experiencing "involution" in the short term, compounded by competition from high-speed rail, leading to a shift in the civil aviation sector from growth in scale to improvements in efficiency [3].

Core Viewpoint - Xiamen Airlines is looking to make breakthroughs in capital operations, potentially indicating plans for an IPO, while also facing operational pressures and market challenges [1][2]. Group 1: Company Strategy and Plans - Xiamen Airlines held a mid-year work meeting on July 14, 2025, where the chairman emphasized the need for innovation and integration of operations and finance, aiming to enhance corporate governance and efficiency [1]. - The company is expected to deepen reforms and expand its industrial ecosystem, aligning with the path of modern enterprise reform in China [1][2]. - A framework agreement was signed by shareholders to support further reforms at Xiamen Airlines during its 40th anniversary in July 2024, indicating a collaborative effort towards potential listing [2]. Group 2: Financial Performance - In 2024, Xiamen Airlines reported a revenue of 36.438 billion and a net profit of 0.697 billion, contributing positively to the financial recovery of its parent company, China Southern Airlines [3]. - China Southern Airlines reported a revenue of 174.224 billion in 2024, with a year-on-year growth of 8.9%, although it still faced a net loss of 1.696 billion [3]. Group 3: Market Challenges - Xiamen Airlines is experiencing increased cost pressures and declining market revenues, with both income and cost sides under pressure [5]. - The airline industry is shifting from growth in scale to improvements in efficiency, influenced by competitive pressures and high-speed rail alternatives [5]. - Despite these challenges, Xiamen Airlines' subsidiaries performed well in the first half of 2025, achieving profitability [6].

Core Insights - The domestic aviation industry is experiencing significant growth during the summer travel season, with Beijing emerging as the top destination due to its tourism and business advantages [1][4]. Passenger Volume and Flight Data - In July, domestic aviation passenger volume exceeded 60.34 million, marking a new high, while international routes saw a 10% year-on-year increase with over 7.76 million passengers [2]. - The total passenger transport volume for July reached 71.2 million, a 16.3% increase from the previous month and a 3% increase year-on-year [2]. - The number of flights operated in July reached 524,000, averaging 16,900 flights per day, with a year-on-year increase of 3.5% [3]. Popular Destinations and Trends - The most popular domestic destinations in July included Beijing, Chengdu, Shanghai, and Guangzhou, with Beijing leading due to its rich cultural heritage and business activities [4]. - The "cooling off" tourism trend was prominent in July, with significant increases in passenger volume to destinations like Xinjiang, which saw over 8% growth, and other regions like Yunnan and Ningxia [2][3]. Service Enhancements by Airlines - Airlines are enhancing their services to attract business travelers, with initiatives like "one-click boarding" and extended check-in times being introduced by major carriers [6][7]. - The introduction of pet-friendly services has expanded, with airlines increasing the number of pets allowed in the cabin and removing restrictions on certain breeds [7]. Pricing and Future Outlook - The average ticket price for domestic economy class in July was 840 yuan, showing a slight year-on-year decrease, while several key routes maintained average prices above 1,000 yuan [5]. - The capital airport anticipates continued growth in passenger throughput, with peak travel expected in late August [5].

天眼查商业履历信息显示，中国南方航空股份有限公司，成立于1995年，位于广州市，是一家以从事航 空运输业为主的企业。企业注册资本1812088.9795万人民币，实缴资本1812088.9795万人民币。公司法 定代表人为马须伦。 通过天眼查大数据分析，中国南方航空股份有限公司共对外投资了70家企业，参与招投标项目5000次， 知识产权方面有商标信息108条，专利信息321条，此外企业还拥有行政许可160个。 来源：金融界 南方航空最新一期业绩显示，截至2025一季报，公司营业总收入434.07亿元、同比减少2.68%，归属净 利润74700.00万元，同比减少198.81%，扣非净利润116000.00万元，同比减少312.45%，流动比率 0.257、速动比率0.241、资产负债率84.19%。 金融界消息 截至2025年8月5日收盘，南方航空（600029）报收于5.73元，上涨0.7%，换手率0.25%，成 交量31.48万手，成交金额1.80亿元。 资金流向方面，今日主力资金净流出1379.20万元，占比成交额7.66%。其中，超大单净流出480.40万 元、占成交额2.67%，大单净流出898.8 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000099 | 中信海直 | 23.66 | 1.76% | 50.05万 | | 11.59亿 | | 600221 | 海航控股 | 1.52 | 1.33% | 412.06万 | | 6.27亿 | | 000089 | 深圳机场 | 7.21 | 1.12% | 19.68万 | | 1.42 Z | | 600004 | 白云机场 | 9.46 | 0.96% | 10.59万 1 | | 9993.12万 | | 603885 | 吉祥航空 | 12.50 | 0.89% | 16.35万 | | 2.04亿 | | 600115 | 中国东航 | 3.82 | 0.79% | 49.67万 | | 1.89亿 | | 600009 | 上海机场 | 32.34 | 0.72% | 6.65万 | | 2.15亿 | | 600029 | 南方航空 | 5.73 | 0.70% | 31.48万 | | 1.80亿 ...

Group 1 - The report details the changes in the registered capital and issued shares of China Southern Airlines Co., Ltd. as of July 31, 2025, indicating no change in the registered capital for the securities with code 01055 and a slight increase of 486 shares for the securities with code 600029 [1] - The total registered capital at the end of the month is RMB 18,120,917,661, with the number of issued shares remaining stable for the securities with code 01055 and a minor increase for the securities with code 600029 [1] - The report confirms that all securities issuance and stock transactions have been authorized by the board of directors and comply with applicable listing rules and regulations [3] Group 2 - The report specifies that there were no changes in the stock options or warrants related to the issuer's stock option plan [1] - The convertible bonds had a conversion price adjustment from RMB 6.20 to RMB 6.17 per share, effective from November 28, 2022 [1] - The total increase in issued shares (excluding treasury shares) for the month is 486 ordinary shares, with no treasury shares being transferred [1]

呈交日期: 2025年8月4日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國南方航空股份有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01055 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 2. 股 ...

Core Insights - The article highlights the strong performance of China Southern Airlines (CSA) in Hunan during the summer travel peak, with significant increases in flight operations and passenger numbers [1][3]. Group 1: Flight Operations - In the first month of the summer travel season, CSA executed 2,145 inbound and outbound flights in Hunan, with over 170 additional flights, serving nearly 600,000 passengers [1][3]. - The average daily seat capacity reached 12,300, demonstrating the airline's commitment to meeting travel demand [1]. Group 2: Market Performance - The airline's domestic routes from Changsha to popular destinations like Tianjin, Xiamen, Qingdao, and Kunming achieved a passenger load factor of around 90% [3]. - International routes, including those to Tokyo and Nairobi, also showed strong performance with load factors close to 90% [3]. Group 3: Capacity and Pricing Strategy - CSA plans to increase its daily flight volume to a maximum of 146 flights in Hunan during the peak of August [3]. - To attract travelers during the expected decline in passenger flow in mid to late August, the airline is offering discounted fares on certain routes, such as Changsha to Beijing Daxing starting at 540 yuan, Changsha to Qingdao at 580 yuan, and others [3]. Group 4: Operational Efficiency - In July, the on-time performance of outbound flights from Changsha improved by 15.10% year-on-year, indicating enhanced operational efficiency [3]. Group 5: Customer Experience Initiatives - CSA has focused on improving passenger experience by dynamically increasing check-in counters and providing special services for vulnerable groups, assisting over 2,700 passengers with special needs [5]. - The airline introduced a "pet in cabin" service, successfully accommodating 9 pets traveling with their owners, and utilized 65 volunteers to enhance passenger guidance during key processes [5].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國南方航空股份有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01055 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,643,997,308 | RMB | | 1 | RMB | | 4,643,997,308 | | 2. 股 ...

证券之星消息，8月4日航空机场板块较上一交易日上涨0.55%，中信海直领涨。当日上证指数报收于 3583.31，上涨0.66%。深证成指报收于11041.56，上涨0.46%。航空机场板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 6600000 | 中信海直 | 1.43 Z | 8.70% | -8804.93万 | -5.36% | -5484.46万 | -3.34% | | 601021 | 春秋航空 | 2998.53万 | 14.06% | 983.11万 | 4.61% | -3981.63万 | -18.67% | | 601111 | 中国国航 | 2630.30万 | 6.91% | -231.62万 | -0.61% | -2398.68万 | -6.30% | | 6038882 | 吉祥航空 | 2215.69万 | 11.75% | -2337.93万 | -12. ...