Market Overview - On September 22, the aviation and airport sector declined by 0.27%, with Xiamen Airport leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Stock Performance - Notable stock performances included: - CITIC Hainan Airlines (Code: 6600000) closed at 22.68, up 2.81% with a trading volume of 220,300 shares and a turnover of 497 million yuan [1] - China National Aviation (Code: 601111) closed at 7.88, up 0.51% with a trading volume of 543,300 shares [1] - Xiamen Airport (Code: 600897) closed at 14.46, down 1.57% with a trading volume of 16,800 shares and a turnover of 24.29 million yuan [2] Capital Flow - The aviation and airport sector experienced a net outflow of 126 million yuan from institutional investors, while retail investors saw a net inflow of 126 million yuan [2] - The capital flow for individual stocks showed: - CITIC Hainan Airlines had a net inflow of 39.99 million yuan from institutional investors [3] - Xiamen Airport had a net inflow of 4.81 million yuan from institutional investors [3] - China Eastern Airlines (Code: 600115) had a net inflow of 24.98 million yuan from institutional investors [3]

中国民航网 通讯员杨映娟、孙素文、梁辛元报道：9月20日，吉林省长春市委副书记、市长顾刚会见海 南省发展控股有限公司董事长周军平、海航航空集团总裁谢锐、吉林省民航机场集团有限公司总经理李 树英一行，共同见证吉林省民航机场集团有限公司、海口美兰国际机场有限责任公司、海南航空控股股 份有限公司签署战略合作协议。 9月20日，长春市委副书记、市长顾刚会见海南省发展控股有限公司董事长周军平、海航航空集团总裁 谢锐、吉林省民航机场集团有限公司总经理李树英一行，并见证签约 9月21日北京时间17：00，海南航空HU447（长春—海口—新加坡）航班从长春龙嘉国际机场腾空而 起，经停海口后飞往新加坡，标志着海南航空长春—海口—新加坡航线正式通航。从谋划到首航，时间 仅用两个月，再次彰显了"长春速度"。顾刚希望海南控股、海航航空集团持续优化航线布局，加大运力 投放，加密航线网络，与长春共同做好"航空+"文章，推动航空业与旅游业、制造业等深度融合。海南 控股和海航航空集团表示，将积极利用新加坡及东南亚资源，更多讲好吉林故事，宣传好长春，助力长 春高水平对外开放。周军平等企业负责人表示，将立足长春所需、企业所能，加强对接交流，找准 ...

Core Viewpoint - HNA Group's stock price has experienced a decline of 4.71% year-to-date, with a recent drop of 2.41% on September 22, 2023, indicating ongoing market challenges for the company [1][2]. Financial Performance - For the first half of 2025, HNA Group reported a revenue of 33.083 billion yuan, reflecting a year-on-year growth of 4.22%, while the net profit attributable to shareholders was 56.945 million yuan, showing a significant increase of 108.95% [2]. - Cumulatively, HNA Group has distributed a total of 3.424 billion yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - As of September 22, 2023, HNA Group's stock was trading at 1.62 yuan per share, with a total market capitalization of 70.009 billion yuan and a trading volume of 696 million yuan [1]. - The stock has seen a 0.00% change over the last five trading days, a 1.89% increase over the last 20 days, and a 20.90% increase over the last 60 days [2]. - The company has appeared on the "Dragon and Tiger List" once this year, with a net buy of 116 million yuan on July 24, 2023 [2]. Shareholder Information - As of June 30, 2025, HNA Group had 583,500 shareholders, a decrease of 5.71% from the previous period, with an average of 0 circulating shares per shareholder [2]. - Notably, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]. Business Overview - HNA Group, established on December 29, 1995, and listed on November 25, 1999, primarily engages in scheduled and non-scheduled air passenger and cargo transportation, with passenger transport accounting for 87.52% of its revenue [2]. - The company operates within the transportation sector, specifically in the aviation industry, and is associated with concepts such as Hainan Free Trade Zone and civil aviation [2].

Core Insights - In August, China's civil aviation transportation scale reached a historical high, with total turnover surpassing 150 billion ton-kilometers for the first time, showing a positive operational trend [1] - The overall transportation turnover was 151.8 billion ton-kilometers, with passenger transport volume at 75.36 million and cargo mail transport volume at 865,000 tons, representing year-on-year growth of 8%, 3.3%, and 13.3% respectively [1] - Domestic passenger transport volume increased by 2.2% to 67.89 million, while international routes saw a 15.3% increase to 7.465 million passengers [1] Industry Performance - From January to August, the total transportation turnover reached 1,083.3 billion ton-kilometers, a year-on-year increase of 10.5%, with domestic and international routes growing by 4.7% and 22.4% respectively [2] - Cargo mail transport volume for the same period was 651.6 thousand tons, up 14.5% year-on-year [2] Airline Operations - China International Airlines reported a 2.3% increase in passenger capacity and a 3.2% rise in passenger turnover for August, with cargo capacity up 1.5% and cargo turnover up 10.2% [2] - China Southern Airlines saw a 6.37% increase in passenger capacity and a 0.90% increase in cargo capacity in August, with a total of 952 operational aircraft [3] Market Trends - Airlines are actively expanding international routes, with China Eastern Airlines resuming and increasing flights on several international routes [4] - Hainan Airlines plans to enhance its international route network, focusing on Southeast Asia and Europe, to strengthen its competitive position in the international market [5] Future Outlook - Analysts express cautious optimism regarding the annual performance of listed airlines, anticipating improvements in supply-demand relationships and potential profitability recovery [5]

Group 1 - The new regular passenger route "Singapore ⇌ Haikou ⇌ Changchun" has been launched at Haikou Meilan International Airport, providing more travel options for passengers during the National Day and Mid-Autumn Festival holidays [1] - This launch marks a significant step in the substantive cooperation between Meilan Airport, Jilin Province Civil Aviation Airport Group, and Hainan Airlines, following the signing of a tripartite strategic cooperation agreement on September 20 [1] - The route is operated by Hainan Airlines using a B737 aircraft, with flights scheduled every Monday, Wednesday, Friday, and Sunday [1] Group 2 - The outbound flight HU448 departs from Singapore at 4:40 AM local time and arrives in Haikou at 8:10 AM Beijing time, then departs Haikou at 10:15 AM and arrives in Changchun at 3:15 PM [1] - The return flight HU447 departs from Changchun at 5:00 PM Beijing time, arrives in Haikou at 10:00 PM, and then departs Haikou at 11:50 PM, arriving in Singapore at 3:10 AM the next day local time [1] - Passengers traveling during the upcoming holidays are advised to purchase round-trip tickets in advance due to expected high travel volume [1] Group 3 - Haikou Meilan International Airport offers incentives for international transfer passengers, including dining vouchers worth 60 or 100 yuan or a free night’s stay at the airport hotel [1] - Non-Haikou residents traveling on international and regional outbound flights from Meilan Airport can also enjoy similar benefits [1]

（文章来源：中国新闻网） 中新网海口9月21日电 (蔡莲珠林杉)海口美兰国际机场(下称"美兰机场")21日开通"新加坡海口长春"定期 客运航线，为旅客在国庆、中秋假期出行提供更多选择。 9月20日，美兰机场与吉林省民航机场集团、海南航空共同签署三方战略合作协议。根据协议，三方将 聚焦航线结构优化、中转市场开发、服务品质提升及市场营销推广等方面展开协同合作，通过资源互 补、信息共享与协同创新，共同打造高效顺畅的区域航空服务网络，为国内外旅客提供更便捷、舒适的 航空出行体验。(完) 据介绍，该航线由海南航空运营，采用B737客机执飞，计划每周一、三、五、日各执飞一班。来程航 班HU448于当地时间4时40分从新加坡起飞，北京时间8时10分抵达海口，10时15分由海口起飞，15时15 分抵达长春；返程航班HU447于北京时间17时从长春起飞，22时抵达海口，23时50分由海口起飞，次日 当地时间3时10分抵达新加坡。 ...

9月20日，美兰机场与吉林省民航机场集团、海南航空共同签署三方战略合作协议。根据战略合作协议，美兰机场与吉林省民航机场集团、海南航空三方将 聚焦航线结构优化、中转市场开发、服务品质提升及市场营销推广等方面的协同合作，旨在通过资源互补、信息共享与协同创新，共同打造高效顺畅的区域 航空服务网络，为国内外旅客提供更便捷、舒适的航空出行体验。 北京商报讯（记者 关子辰 牛清妍）9月21日，北京商报记者从海口美兰国际机场（以下简称"美兰机场"）获悉，新加坡—海口—长春定期客运航线正式开 通。 据悉，该航线由海南航空运营，采用B737客机执飞，计划每周一、三、五、日各执飞一班。去程航班HU448于当地时间4:40从新加坡起飞，北京时间8:10抵 达海口，10:15由海口起飞，15:15抵达长春；返程航班HU447于北京时间17:00从长春起飞，22:00抵达海口，23:50由海口起飞，次日当地时间3:10抵达新加 坡。具体时间以航司官方发布为准。 ...

中新网海口9月21日电 (蔡莲珠 林杉)海口美兰国际机场(下称"美兰机场")21日开通"新加坡⇌海口⇌长 春"定期客运航线，为旅客在国庆、中秋假期出行提供更多选择。 9月20日，美兰机场与吉林省民航机场集团、海南航空共同签署三方战略合作协议。根据协议，三方将 聚焦航线结构优化、中转市场开发、服务品质提升及市场营销推广等方面展开协同合作，通过资源互 补、信息共享与协同创新，共同打造高效顺畅的区域航空服务网络，为国内外旅客提供更便捷、舒适的 航空出行体验。(完)【编辑:田博群】 据介绍，该航线由海南航空运营，采用B737客机执飞，计划每周一、三、五、日各执飞一班。来程航 班HU448于当地时间4时40分从新加坡起飞，北京时间8时10分抵达海口，10时15分由海口起飞，15时15 分抵达长春；返程航班HU447于北京时间17时从长春起飞，22时抵达海口，23时50分由海口起飞，次日 当地时间3时10分抵达新加坡。 ...

Core Viewpoint - The Shanghai Composite Index fell by 0.30% on September 19, with 16 out of the 28 sectors rising, particularly coal and non-ferrous metals, which increased by 1.97% and 1.19% respectively. The transportation sector rose by 0.65%, while the automotive and pharmaceutical sectors saw declines of 1.94% and 1.41% respectively [1]. Market Overview - The net outflow of capital from the two markets reached 58.733 billion yuan, with 8 sectors experiencing net inflows. The non-ferrous metals sector led with a net inflow of 872 million yuan, followed by the media sector with a net inflow of 692 million yuan [1]. - A total of 23 sectors experienced net outflows, with the computer sector seeing the largest outflow of 10.723 billion yuan, followed by the automotive sector with an outflow of 7.929 billion yuan [1]. Transportation Sector Analysis - The transportation sector saw a net inflow of 657 million yuan, with 81 out of 127 stocks rising, including 2 hitting the daily limit. The top inflow stocks included Nanjing Port with a net inflow of 249 million yuan, followed by Shentong Express and COSCO Shipping with inflows of 208 million yuan and 123 million yuan respectively [2]. - The outflow leaderboard in the transportation sector was led by HNA Holding with a net outflow of 197 million yuan, followed by COSCO Shipping Development and Beijing-Shanghai High-Speed Railway with outflows of 46 million yuan and 45 million yuan respectively [3].

Core Insights - The aviation and airport sector saw a slight increase of 0.24% on September 19, with Huaxia Airlines leading the gains [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Stock Performance - Huaxia Airlines (002928) closed at 9.80, up 2.40% with a trading volume of 180,100 shares and a transaction value of 174 million [1] - Xiamen Airport (600897) closed at 14.69, up 1.80% with a trading volume of 34,500 shares and a transaction value of 49.97 million [1] - China Eastern Airlines (600115) closed at 4.07, up 0.74% with a trading volume of 1,130,800 shares and a transaction value of 457 million [1] Capital Flow - The aviation and airport sector experienced a net outflow of 242 million from institutional investors, while retail investors saw a net inflow of 213 million [2] - The net inflow from speculative funds was 29.57 million [2] Individual Stock Capital Flow - Shanghai Airport (600009) had a net inflow of 19.13 million from institutional investors, while retail investors had a net outflow of 1.09 million [3] - Huaxia Airlines (002928) saw a net inflow of 4.48 million from institutional investors and a net outflow of 8.98 million from retail investors [3] - China Southern Airlines (600029) experienced a net outflow of 2.13 million from institutional investors, with a net inflow of 3.73 million from speculative funds [3]