| 板块名称 | 涨幅量 | 长汉 | 张停数 | | --- | --- | --- | --- | | 贵金属 | -6.09% | -0.01% | 0 | | 黄金概念 | -1.72% | +0.11% | D | | 金属铅 | -1.64% | +0.01% | 0 | | 金属锌 | -1.60% | +0.00% | 0 | | 厨卫电器 | -1.16% | -0.04% | 11 | | 金属铜 | -0.49% | -0.02% | 11 | | 银行 | -0.40% | -0.08% | 0 | | 第马概念 | -0.28% | +0.03% | 0 | | 兵装重组概念 | -0.24% | -0.02% | 0 | | 养鸡 | -0.21% | +0.05% | 0 | | 草甘麟 | -0.15% | -0.00% | 0 | | 转基因 | -0.14% | +0.07% | 0 | 2025.10.20 本文字数：1383，阅读时长大约2分钟 11:31 A股午盘丨科技股全线反弹 沪指涨0.69%，深成指涨1.38%，创业板指涨2.49%。 盘面上，科技股全线反弹，C ...

/ 航空机场 9 月数据点评：客座率整体维 持较高水平，国际线同比提升明显 事件：上市航司发布 9 月运营数据。9 月航司客座率整体维持了较高水平，国 际线客座率水平同比明显优于去年同期。 国内航线：反内卷背景下运力投放维持较低增长，客座率维持较高水平 9 月上市公司国内航线运力投放同比提升约 2.2%，环比 8 月下降约 15.7%， 运力投放水平与去年相比差异不大，在行业反内卷的大背景下，航司运力投放 较为稳健。 分航司看，除春秋运力投放同比提升较大外，其余航司运力投放增速都控制在 3%以内。环比看，进入 9 月后各航司都较大幅度下调了运力投放，主要系当 前旅游需求占比提升导致旺季与淡季需求端差距较大，整体情况与 23 年和 24 年类似。春秋能够在运力投放同比明显提升的情况下维持较高的客座率，则说 明消费降级的影响导致行业整体价格带出现了下移，低价格带需求占比提升， 这对航司的降本增效提出了更高的要求，成本端的优势在竞争中或有所放大。 客座率方面，上市公司整体客座率较去年同期提升约 2.1pct，环比 8 月下降 1.0pct。由于行业由旺季转向淡季，客座率环比下降是正常现象，同比看，9 月客座率维持在 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000099 | 中信海直 | 21.48 | -2.85% | 16.60万 | | 3.63亿 | | 600004 | 白云机场 | 9.47 | -1.46% | 17.54万 | | + 1.67亿 | | 600221 | 海航控股 | 1.68 | -1.18% | 807.77万 | | 13.70亿 | | 600009 | 上海机场 | 31.32 | -0.89% | 9.51万 | | 3.00亿 | | 600029 | 南方航空 | 6.21 | -0.80% | 55.32万 | | 3.46亿 | | 000089 | 深圳机场 | 7.10 | -0.42% | 11.79万 | | 8390.69万 | | 002928 | 华夏航空 | 10.68 | 0.00% | 39.08万 | | 4.20亿 | | 600115 | 中国东航 | 4.48 | 0.67% | 136.52万 | | ...

记者丨 周潇枭 见习记者张旭 编辑丨陈洁 海南的地理位置优越，4小时飞行时间可覆盖亚洲21个国家和地区、世界47%的人口；8小时飞 行时间可覆盖全球59个国家和地区、世界67%的人口和41%的GDP。 近日，21世纪经济报道记者跟随"活力中国调研行"采访团来到海南，发现一个有趣的现象：凭 借独特的区位优势和自贸港政策红利，海南正在发展飞机维修产业，努力吸引全球航司"回头 客"。 可不要小看这个市场的规模。根据空中客车发布的2024—2043年全球航空服务市场预测报 告，在中国，"维护、维修"市场板块占整个航空服务市场的83%。预期到2043年，"维护、维 修"市场将从目前的190亿美元增长至510亿美元，年复合增长率达5.3%。 记者走进海南自贸港一站式飞机维修产业基地（以下简称"基地"）的机库，十几架大型客机整 齐地停放在机库内，维修人员在机库内穿梭，搭载升降平台对机翼、起落架等部位进行检修。 机库外，国内外航司的数架客机在等待维修。 在政策赋能方面，海南自贸港优惠政策支持进境维修免保证金、暂时进境维修允许内销、维修 航材保税等，综合下来可为航司节省时间以及10%—15%的维修成本。加上海南具有得天独厚 的 ...

Core Points - The incident involving Hainan Airlines flight HU7573 was caused by heavy fog leading to flight delays, resulting in the aircraft returning to the gate for refueling after waiting on the runway [2][3] - Passengers expressed frustration during the delay, but ultimately chose to continue their journey after communication from the ground service team [3] Summary by Sections - **Flight Incident**: Hainan Airlines flight HU7573, scheduled to depart from Xi'an to Qingdao, faced delays due to heavy fog and runway changes, leading to insufficient fuel levels as per civil aviation regulations, prompting a return to the gate for refueling [2] - **Passenger Response**: Some passengers considered terminating their journey, but the ground service team effectively communicated with them, resulting in their decision to continue with the flight [3] - **Flight Schedule**: The flight was originally scheduled to take off at 10:30 AM and arrive at 12:35 PM, but it actually took off at 11:09 AM and arrived at 12:43 PM [3]

Investment Rating - The investment rating for the airline transportation industry is "Positive" [2]. Core Viewpoints - The industry has maintained a high passenger load factor since the beginning of 2025, with domestic airlines focusing on low growth in capacity while increasing investment in international routes. The supply remains tight with a net fleet growth rate below 3%. The passenger load factor has improved year-on-year and compared to the same period in 2019, particularly in domestic routes. Domestic turnover has shown steady growth, while international turnover has significantly recovered to 2019 levels. Ticket prices have turned positive during the National Day and Mid-Autumn Festival holidays, with demand remaining robust. The fourth quarter is expected to see improvements in year-on-year comparisons due to a low base from the previous year, which will support the recovery of unit revenue for airlines [12][13][36]. Summary by Sections Investment Suggestions - The report suggests focusing on airlines such as China Southern Airlines, China Eastern Airlines, Air China, Spring Airlines, and Juneyao Airlines due to the expected recovery in unit revenue and profitability [13][36]. Passenger Load Factor and Ticket Prices - The passenger load factor remains high, with the industry achieving a load factor of 87.5% in August 2025, up 0.6 percentage points year-on-year and 0.9 percentage points compared to 2019. Domestic turnover increased by 3.5% year-on-year, while international and regional routes have recovered to 100.4% of 2019 levels [15][19]. - Ticket prices have shown a positive trend, with the average domestic ticket price reaching 942 RMB during the National Day holiday, reflecting a year-on-year decrease of only 1.5%. The average ticket price for early October 2025 was up 2.2% year-on-year [4][23]. Oil Prices and Exchange Rates - The average aviation fuel price in October 2025 was 5572 RMB per ton, a slight decrease of 0.1% year-on-year. The Brent crude oil price has also decreased, with an average of 64.25 USD per barrel in October, down 16.7% year-on-year. The Chinese Yuan has appreciated against the US Dollar, with the exchange rate at 7.0968 RMB per USD as of October 16, 2025 [5][36][40]. Airline Operations and Fleet Growth - Airlines have continued to invest in international capacity, with domestic and international passenger load factors remaining high. In September 2025, the domestic load factor for major airlines showed significant year-on-year increases, with China Eastern Airlines leading with a 3.4 percentage point increase compared to 2019 [41][44]. - In terms of fleet growth, Air China had the highest net increase in aircraft in September 2025, adding 5 aircraft, while other airlines also showed modest growth [6][41].

新京报讯(记者赵敏吴淋姝)今日，有网友反映，10月15日，其在陕西西安咸阳机场乘坐海南航空班机 时，飞机排队起飞，延误一个半小时后，从跑道返回加油，机上有乘客情绪激动，与地勤工作人员发生 口角。10月16日晚，新京报记者从海南航空获悉，该航班因大雾天气延误，发动机因持续燃油消耗后低 于民航规章要求的油量，为确保飞行安全，机组决定滑回机位补充燃油后重新排队。 海南航空回复新京报记者称，海南航空HU7573(西安-青岛)航班因西安咸阳国际机场受大雾天气航班积 压影响，航班推出后排队等待起飞，到达跑道后又因天气原因更换跑道，在此过程中飞机发动机持续燃 油消耗。 此外，海南航空表示，在此期间部分旅客提出终止行程，地面服务团队迅速启动旅客服务预案，及时登 机沟通，最终旅客选择继续行程。在气象条件改善、空管部门发出放行指令后，航班于当日11点09分起 飞并安全抵达目的地。 海南航空称，对此次航班延误给乘客带来的不便深表歉意。将持续优化特殊情况下的服务流程，全力保 障旅客出行权益，并始终严守航空安全红线。 国内某大型航司的一名飞行员告诉新京报记者，飞机滑回停机位，油车再来加油的情况偶有发生。"燃 油计划现在都做得很仔细，一 ...

Investment Rating - The investment rating for the aviation industry is "Outperform" [7]. Core Views - The aviation industry is experiencing a golden era with continuous growth in capacity and passenger volume, driven by a recovery in demand and increased operational efficiency among airlines [4][6]. - Airlines are increasing capacity deployment, with passenger turnover growth outpacing capacity growth, indicating strong demand recovery [4]. - The report highlights that the average aircraft utilization rate has improved, with wide-body aircraft averaging 9.0 hours and narrow-body aircraft at 7.9 hours per day [4]. Summary by Sections Industry Overview - In September 2025, civil aviation passenger transport volume reached approximately 62.7 million, a year-on-year increase of 4.6% compared to 2024 [4]. - Domestic capacity increased by 1.0% year-on-year, while domestic passenger flow grew by 3.6% [4]. Airline Performance - Major airlines reported varying growth rates in capacity (ASK) and passenger turnover (RPK): - Air China: ASK +1%, RPK +6% - China Eastern Airlines: ASK +4%, RPK +9% - Southern Airlines: ASK +4%, RPK +5% - Spring Airlines: ASK +21%, RPK +23% - Hainan Airlines: ASK +6%, RPK +7% [4][5]. Domestic Market - The domestic market shows a balanced growth in supply and demand, with Spring Airlines experiencing significant growth in both capacity and passenger volume [4]. - The report indicates that the overall ASK and RPK for major airlines have shown modest growth compared to 2024, with some airlines like Spring Airlines showing substantial increases [5]. International Market - The international flight market is recovering, with airlines like Spring Airlines and China Eastern Airlines exceeding pre-pandemic levels in terms of capacity and passenger turnover [4]. - The report notes that international flights have seen a significant recovery, with the number of flights reaching 85.7% of the levels seen in 2019 [4]. Investment Recommendations - The report recommends focusing on the aviation sector due to strong supply-side logic and elastic demand, with potential for significant performance improvement in airlines [4]. - Specific airlines recommended for investment include China Eastern Airlines, Hainan Airlines, Air China, Southern Airlines, Spring Airlines, and Cathay Pacific [4].

证券日报网讯 10月16日晚间，海航控股发布公告称，公司于2025年4月29日召开第十届董事会第三十九 次会议，于2025年5月21日召开2024年年度股东大会，审议通过了《关于向中国银行间市场交易商协会 申请注册中期票据的议案》，同意公司在中国银行间市场交易商协会（简称"交易商协会"）申请注册发 行不超过人民币20亿元的中期票据。近日，公司收到交易商协会出具的《接受注册通知书》，交易商协 会同意接受公司中期票据注册，现将主要内容公告如下：一、公司本次中期票据注册金额为20亿元，注 册额度自《接受注册通知书》落款之日起2年内有效，由中国银河证券股份有限公司主承销。二、公司 在注册有效期内可分期发行中期票据，接受注册后如需备案发行，应事前先向交易商协会备案。公司应 按照有权机构决议及相关管理要求，进行发行管理。发行完成后，应通过交易商协会认可的途径披露发 行结果。 （文章来源：证券日报） ...

一、公司本次中期票据注册金额为20亿元，注册额度自《接受注册通知书》落款之日起2年内有效，由 中国银河证券股份有限公司主承销。二、公司在注册有效期内可分期发行中期票据，接受注册后如需备 案发行，应事前先向交易商协会备案。公司应按照有权机构决议及相关管理要求，进行发行管理。发行 完成后，应通过交易商协会认可的途径披露发行结果。 格隆汇10月16日丨海航控股(600221.SH)公布，近日，公司收到交易商协会出具的《接受注册通知 书》，交易商协会同意接受公司中期票据注册，现将主要内容公告如下： ...