格隆汇9月30日丨海航控股(600221.SH)公布，金鹏航空系公司及控股子公司祥鹏航空的参股公司，公司持有9.2016%股权，祥鹏航空持有7.9051%股权，公司关联方海航航空集团持有77.8 本次交易完成后，海航货运、公司、祥鹏航空、海南航投股权投资基金管理合伙企业(有限合伙）将分别持有金鹏航空77.8948%、9.2016%、7.9051%、4.9985%的股权，公司及祥鹏航空对金 ...

临时公告 证券代码：600221 、900945 证券简称：海航控股 、海控 B 股 公告编号：2025-091 海南航空控股股份有限公司 关于放弃参股公司股权优先购买权暨关联交易 的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 海航航空集团有限公司（以下简称"海航航空集团"）拟通过出售及以股 权出资的形式转让其持有的金鹏航空有限责任公司（以下简称"金鹏航空"） 77.8948%的股权。海南航空控股股份有限公司（以下简称"海航控股"或"公司"） 及公司控股子公司云南祥鹏航空有限责任公司（以下简称"祥鹏航空"）为金鹏航 空参股股东，均拟放弃前述股权的优先购买权。 本次放弃优先购买权，未导致公司主营业务、资产、收入发生重大变化， 不构成《上市公司重大资产重组管理办法》规定的重大资产重组。本次交易完成 后，金鹏航空仍为公司参股公司，未导致公司合并报表范围变更。 一、关联交易概述 （一）本次交易的基本情况 1.本次交易概况 金鹏航空系公司及控股子公司祥鹏航空的参股公司，公司持有 9.2016%股权， 祥鹏航空持 ...

临时公告 证券代码：600221、900945 证券简称：海航控股、海控 B 股 编号：临 2025-092 海南航空控股股份有限公司 关于调整 2025 年度日常生产性关联交易预计金额的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 是否需要提交股东大会审议：是 海南航空控股股份有限公司（以下简称"海航控股"或"公司"）与关联方之 间日常生产性关联交易的目的是为了满足公司正常生产经营的需要，交易严格遵守平 等互利的市场交易原则及关联方交易定价原则，不存在损害上市公司和股东利益的情 形，公司的主要业务不会对关联人形成依赖，不会对公司持续经营能力及独立性造成 影响。 一、日常关联交易的基本情况 （一）日常关联交易履行的审议程序 海航控股于 2025 年 3 月 21 日和 2025 年 3 月 31 日召开第十届董事会第三十八次 会议及 2025 年第二次临时股东大会审议通过《关于 2025 年度日常生产性关联交易额 度预计的议案》。现根据日常生产性关联交易已发生的实际状况，及后续生产运营持 续快速增长的需 ...

临时公告 证券代码：600221 、900945 证券简称：海航控股 、海控 B 股 公告编号：2025-093 海南航空控股股份有限公司 关于召开2025年第四次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第四次临时股东大会 召开的日期时间：2025 年 10 月 20 日 14 点 30 分 召开地点：海南省海口市国兴大道 7 号海航大厦会议室 临时公告 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 10 月 20 日 至2025 年 10 月 20 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六) 融资融券、转融通、约定购回业务账户和沪 ...

临时公告 证券代码：600221、900945 证券简称：海航控股、海控 B 股 编号：临 2025-090 海南航空控股股份有限公司 第十届董事会第四十六次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2025 年 9 月 30 日，海南航空控股股份有限公司（以下简称"公司"）第十届董 事会第四十六次会议以通讯方式召开，应参会董事 12 名，实际参会董事 12 名，符合 《公司法》和《公司章程》的有关规定。会议审议并通过以下议案： 一、关于聘任郭烁先生为公司副总裁的议案 公司董事会同意聘任郭烁先生为公司副总裁，任期与公司第十届董事会任期一 致，自本次董事会批准之日起生效。 本次聘任副总裁事项已经公司第十届董事会提名委员会第十七次会议审议通过， 具体审核意见为：根据公司工作需要，并经本委员会审核通过，同意提名郭烁先生为 公司副总裁，并提交公司董事会审议。 表决结果：赞成 12 票，反对 0 票，弃权 0 票。 表决结果：赞成 5 票，反对 0 票，弃权 0 票，回避表决 7 票。 该事项尚需提交公司股东大会审议 ...

Core Viewpoint - The practice of paid seat selection by airlines has become a common revenue-generating strategy, raising concerns about consumer rights and transparency in the industry [2][3][8]. Group 1: Paid Seat Selection Practices - Many domestic airlines have implemented paid seat selection services, requiring passengers to pay extra or use mileage points to select certain seats [2][5]. - Airlines like China Southern and Air China have specific rules regarding seat locking, with some seats only available for purchase or mileage redemption [5][6]. - The proportion of locked seats varies by airline and flight, with no standardized regulations governing this practice [3][6]. Group 2: Consumer Rights and Legal Concerns - Experts argue that paid seat selection may violate consumer rights, particularly the right to know and choose freely, and could be seen as a breach of contract [3][8][9]. - The lack of transparency regarding seat availability and the rationale behind seat locking has been criticized, with calls for clearer communication from airlines [8][9]. - Historical precedents exist where airlines faced penalties for similar practices, indicating ongoing regulatory scrutiny in this area [7][8]. Group 3: Industry Implications - The shift towards paid seat selection is viewed as a move away from initial safety considerations to a focus on additional revenue, potentially harming airline reputations [6][9]. - Industry analysts suggest that this trend could lead to a deterioration of consumer trust and loyalty, as passengers feel their rights are being undermined [9].

Core Insights - Hainan Airlines is fully prepared for the upcoming "Super Golden Week" during the National Day and Mid-Autumn Festival in 2025, enhancing flight schedules and operational efficiency to ensure smooth travel for passengers [1][2] Flight Operations - The airline plans to operate approximately 6,622 domestic and international flights during the holiday period, representing a 17.5% increase compared to the same period in 2024, with an expected passenger volume of around 1.13 million, up 18.8% year-on-year [1] - In the domestic market, Hainan Airlines will execute 6,080 flights, a 16% increase from 2024, with an anticipated 1.04 million passengers, reflecting a 10% growth [2] - The international market will see 542 flights, a 35% increase, with an expected 90,000 passengers, marking a 30% year-on-year rise [2] Popular Routes and New Services - Key domestic routes include Beijing-Urumqi, Guangzhou-Urumqi, and Beijing-Sanya, while popular international routes feature Beijing to Osaka, Tokyo, and Sydney [2] - A new route from Haikou to Jakarta was launched on September 26, expanding international travel options for passengers [4] Capacity and Service Enhancements - Hainan Airlines will operate 1,695 domestic flights in the Hainan market, a 19% increase, with an expected 265,000 passengers, up 17% [4] - The airline has introduced various service enhancements, including a new boarding pass design that improves accessibility for elderly passengers and optimizes key travel information display [6][8] In-Flight Experience - To celebrate the dual festivals, Hainan Airlines will offer themed in-flight dining experiences, including special Mid-Autumn dishes and seasonal menus [5][7]

Core Viewpoints - The shipping industry is experiencing high volatility in crude oil freight rates while container shipping rates on long-distance routes are declining [3] - The first hybrid tilt-rotor unmanned aerial vehicle (eVTOL) model has been accepted for application by the Southwest Civil Aviation Administration, and a collaboration between Saudi Arabia and Ehang is set to launch autonomous flying vehicles and air taxi services [3] - China's first national standard for logistics enterprise digitization has been officially released, and the "parallel port" logistics model has achieved a throughput of over 76,000 tons in its first year of operation [3] Shipping Industry - As of September 25, the China Import Crude Oil Comprehensive Index (CTFI) was reported at 1908.03 points, a decrease of 3.4% from September 18 [3] - The VLCC market in the Middle East is seeing a slowdown in cargo availability, while the Atlantic and Gulf routes remain relatively calm [3] - The shipping rates from Shanghai to Europe and the U.S. have decreased, with rates to Europe at $971/TEU (down 7.7%) and to the U.S. West and East coasts at $1460/FEU (down 10.8%) and $2385/FEU (down 6.7%) respectively [3] Aviation Industry - The first hybrid tilt-rotor eVTOL model application has been accepted, marking a significant milestone in China's aviation sector [3] - Saudi Arabia's Front End and Cluster2Airports are collaborating with Ehang to introduce autonomous flying vehicles and air taxi services [3] Logistics and New Transportation Models - The national standard for logistics enterprise digitization was released on September 26, focusing on general requirements [3] - The "parallel port" logistics model has been operational for one year, achieving a throughput of 76.61 million tons and 37,000 standard containers [3] Investment Recommendations - Companies in the equipment and manufacturing export chain are recommended for attention, including COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [6] - Opportunities related to the construction of hydropower stations in the Yarlung Tsangpo River downstream are highlighted, with a focus on Sichuan Chengyu, Chongqing Port, and Fulmin Transportation [6] - The low-altitude economy and highway-railway sectors are also suggested for investment, with specific companies recommended for consideration [7]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - Crude oil freight rates are fluctuating at high levels while container shipping rates on long-distance routes are declining [3][14] - The first hybrid tilt-rotor unmanned aerial vehicle (eVTOL) model has been accepted for certification by the Southwest Regional Administration of Civil Aviation of China, and a collaboration between Saudi Arabia and Ehang is planned to launch autonomous aerial vehicles and air taxi services [3][16] - China's first national standard for logistics enterprise digitization has been officially released, and the "Parallel Port" logistics model has achieved a cargo throughput of over 760,000 tons in its first year of operation [3][24] Summary by Sections 1. Industry Hot Events - Crude oil freight rates are experiencing high volatility, with the China Import Crude Oil Composite Index (CTFI) reported at 1908.03 points, down 3.4% from September 18 [3][14] - Container shipping rates are declining, with the Shanghai port export rate to Europe at $971/TEU, down 7.7%, and to the US West and East coasts at $1460/FEU and $2385/FEU, down 10.8% and 6.7% respectively [3][15] - The DF600 unmanned aerial vehicle has received certification acceptance, marking a significant step in the eVTOL sector [3][16] - The "Parallel Port" logistics model has successfully handled 760,000 tons of cargo, significantly improving logistics efficiency [3][25] 2. Industry High-Frequency Data Tracking - Air cargo prices remain stable, with the Shanghai outbound air freight price index at 4516.00 points, down 6.6% year-on-year [4][26] - Domestic freight volumes for August 2025 increased by 12.29% year-on-year, with total express delivery volume reaching 16.15 billion pieces [4][50] - The shipping market shows a mixed trend, with the Baltic Dry Index (BDI) at 2259 points, up 2.54% week-on-week [4][44] 3. Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping Specialized, China Merchants Energy Shipping, and Huamao Logistics [5] - Attention to the transportation demand increase driven by hydropower station construction in the Yarlung Tsangpo River downstream area, recommending Sichuan Chengyu, Chongqing Port, and Fulimin Transportation [5] - Opportunities in the low-altitude economy sector, recommending CITIC Offshore Helicopter [5] - Investment opportunities in the highway and railway sectors, recommending Gansu Guangdong Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - The cruise and water ferry sector is highlighted, recommending Bohai Ferry and Straits Shares [5] - E-commerce and express delivery investment opportunities are recommended, including SF Express, Jitu Express, and Yunda Shares [5] - Opportunities in the aviation sector, recommending China National Aviation, Southern Airlines, Spring Airlines, and others [5]

Core Insights - The logistics sector is experiencing a dual peak in demand due to the upcoming Mid-Autumn Festival and National Day, with Southern Airlines Logistics (南航物流) reporting a total cargo volume exceeding 110,000 tons since September [1][3] Group 1: Domestic Logistics - The demand for fresh produce, including flowers, fruits, seafood, and e-commerce products, has surged, particularly for seasonal delicacies like hairy crabs and imported lobsters [3] - Southern Airlines Logistics has proactively communicated with e-commerce companies and fresh produce suppliers to understand the structure and volume of goods for the holidays, significantly reducing ground handling times for fresh goods [3] - The company has expanded its "truck flight" capacity nationwide and established a "green channel" at cargo stations to ensure efficient cold chain logistics, allowing seasonal fresh products to reach major cities within 24 hours [3][6] Group 2: International Logistics - There is a significant increase in cross-border e-commerce logistics demand, prompting Southern Airlines Logistics to enhance its international logistics support [5] - The company plans to deploy nearly 200 international cargo flights during the holiday period, optimizing international freight routes and improving customer service to ensure efficient package flow [5] Group 3: Weather Preparedness - Southern Airlines Logistics is closely monitoring weather conditions, particularly the frequent typhoons affecting South China, and has adjusted cargo flight schedules to mitigate the impact of extreme weather [6] - The company has implemented measures such as waterproof packaging for vulnerable goods and relocating them to indoor storage areas to prevent damage and ensure quick recovery of logistics channels [7]