Group 1 - Hainan Airlines Holding Co., Ltd. executed a block trade on November 20, with a transaction volume of 357,100 shares and a transaction amount of 660,600 yuan, at a price of 1.85 yuan, representing a premium of 4.52% over the closing price of the day [1] - The buyer of the block trade was Dongfang Securities Co., Ltd. Shanghai Huangpu District Zhonghua Road Securities Business Department, while the seller was Everbright Securities Co., Ltd. Shanghai Huaihai Middle Road Securities Business Department [1] - In the last three months, Hainan Airlines has recorded a total of four block trades, with a cumulative transaction amount of 35.1 million yuan [1] Group 2 - Hainan Airlines Holding Co., Ltd. was established on December 29, 1995, with a registered capital of 4,321,563.2535 million yuan [1]

关于召开 2025 年第三季度业绩说明会的公告 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： 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 2025-106 海南航空控股股份有限公司 ●会议召开时间：2025 年 11 月 28 日 （星期五） 14:00-15:00 ● 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） ●会议召开方式：上证路演中心网络互动 ●投资者可于 2025 年 11 月 21 日（星期五）至 11 月 27 日(星期四)16:00 前登录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 hhgfdshmsbgs@hnair.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 海南航空控股股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 ...

Summary of Key Points Core Viewpoint - On November 20, a total of 59 stocks in the A-share market experienced block trading, with a total transaction value of 1.91 billion yuan, indicating active trading activity in the market [1]. Group 1: Trading Activity - The top three stocks by transaction value were Zhongji Xuchuang (7.59 billion yuan), Tianyue Advanced (1.29 billion yuan), and Sichuan Shuangma (919.08 million yuan) [1]. - Among the stocks traded, 5 were sold at par value, 2 at a premium, and 52 at a discount [1]. Group 2: Price Changes - The stocks with the highest premium rates were Wantai Biological Pharmacy (6.05%) and HNA Holding (4.52%) [1]. - The stocks with the highest discount rates included Bihaiyuan (20.67%), Juguang Technology (20.53%), and Wens Foodstuff Group (19.52%) [1]. Group 3: Institutional Buying and Selling - The ranking of institutional buying was led by Zhongji Xuchuang (7.59 billion yuan), followed by Tianyue Advanced (93.35 million yuan) and Zhekuang Co. (28.37 million yuan) [1]. - The top three stocks sold by institutional investors were Xiangdian Co. (9.99 million yuan), Wanda Information (7.01 million yuan), and Wukuang New Energy (3.99 million yuan) [2].

Group 1 - HNA Holding's stock closed at 1.77 yuan, with a rise of 0.57% on November 20 [1] - A block trade occurred with a total volume of 357,100 shares and a transaction amount of 660,600 yuan, with a premium rate of 4.52% [1] - The buyer was Dongfang Securities Co., Ltd., and the seller was Everbright Securities Co., Ltd. [1] Group 2 - In the last three months, HNA Holding has had a total of four block trades, amounting to 35.1 million yuan [1] - Over the past five trading days, the stock has declined by 5.35%, with a total net outflow of 551 million yuan from main funds [1]

Group 1 - The core transaction of HNA Holding involved a block trade of 357,100 shares, with a total transaction value of 660,600 yuan, representing 0.07% of the total trading volume for the day [1] - The transaction price was 1.85 yuan per share, which is a premium of 4.52% compared to the market closing price of 1.77 yuan [1]

Core Viewpoint - The aviation and airport sector experienced a decline of 0.8% on November 20, with China Southern Airlines leading the losses. The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1]. Summary by Category Stock Performance - The following stocks in the aviation and airport sector showed notable performance: - Hainan Airlines (600221) closed at 1.77, up 0.57% with a trading volume of 5.3774 million shares and a transaction value of 9.57 billion yuan [1]. - China Eastern Airlines (600115) closed at 5.26, down 0.38% with a trading volume of 808.6 thousand shares and a transaction value of 4.28 billion yuan [2]. - Xiamen Airport (600897) closed at 16.50, down 0.96% with a trading volume of 69.3 thousand shares and a transaction value of 1.14 billion yuan [2]. Capital Flow - The aviation and airport sector saw a net outflow of 123 million yuan from institutional investors, while retail investors contributed a net inflow of 162 million yuan [2]. - The capital flow for specific stocks included: - Shanghai Airport (600009) had a net inflow of 45.5255 million yuan from institutional investors, but a net outflow of 47.5760 million yuan from retail investors [3]. - Hainan Airlines (600221) experienced a net outflow of 5.8716 million yuan from institutional investors, while retail investors had a net inflow of 22.9749 million yuan [3].

Core Points - The upcoming full closure operation of Hainan Free Trade Port on December 18, 2025, is a significant milestone for Hainan's openness and development as an aviation hub [2] - Hainan Airlines is actively expanding its international flight network, adding 74 international and regional flights by November 2025, with a total plan to increase by 80 flights [1][3] - The airline aims to strengthen connections with major countries along the Pacific and Indian Oceans, which is crucial for establishing the "Two Oceans" hub network [2] Group 1: International Route Expansion - Hainan Airlines has recently intensified its international routes from Hainan, including six intercontinental routes to Jeddah, Abu Dhabi, London, Auckland, Sydney, and Melbourne, as well as a route to Kuala Lumpur [1] - By November 2025, Hainan Airlines will operate 22 international and regional routes from Hainan, enhancing global connectivity [1][3] Group 2: Domestic Route Network - In addition to international routes, Hainan Airlines operates nearly 60 domestic routes connecting major cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing, and Chengdu [3] Group 3: Enhanced Passenger Experience - Hainan Airlines collaborates with Haikou Meilan International Airport to improve the transit experience for passengers, offering meal vouchers and free hotel stays for those with layovers [4] - The upgrades in ground services complement the expansion of the airline's route network, supporting the development of Hainan as a "Two Oceans" aviation hub [4]

Core Viewpoint - HNA Holding's stock price has shown fluctuations, with a recent increase of 2.27% and a year-to-date increase of 5.88%, indicating a mixed performance in the market [1][2]. Financial Performance - For the period from January to September 2025, HNA Holding achieved a revenue of 53.438 billion yuan, representing a year-on-year growth of 3.30% [2]. - The net profit attributable to the parent company for the same period was 2.845 billion yuan, reflecting a significant year-on-year increase of 30.93% [2]. Stock Market Activity - As of November 20, HNA Holding's stock was trading at 1.80 yuan per share, with a total market capitalization of 77.788 billion yuan [1]. - The stock has seen a trading volume of 639 million yuan on the same day, with a turnover rate of 1.09% [1]. - The company has appeared on the "龙虎榜" (Dragon and Tiger List) once this year, with a net buy of 116 million yuan on July 24 [1]. Shareholder Information - As of September 30, 2025, HNA Holding had 559,600 shareholders, a decrease of 4.09% from the previous period [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which is a new shareholder holding 558 million shares [3]. Dividend Information - Since its A-share listing, HNA Holding has distributed a total of 3.424 billion yuan in dividends, but there have been no dividends paid in the last three years [3]. Industry Classification - HNA Holding is classified under the transportation sector, specifically in the aviation and airport industry, with involvement in various concept sectors including Hainan Free Trade Zone and civil aviation [2].

Group 1 - The company announced the completion of a cash capital increase by its wholly-owned subsidiary, Hainan Airport Development Industry Group Co., Ltd., in partnership with non-related party Hainan Airlines Holding Co., Ltd. [2] - The capital increase involved an investment of approximately 766.85 million yuan and 1.63 billion yuan, raising the registered capital of Hainan Aviation Technology Co., Ltd. from 374.62 million yuan to 494.47 million yuan [2] - The ownership structure of Hainan Aviation Technology remains unchanged, with Hainan Airport holding 31.93% and Hainan Airlines holding 68.07% [2] Group 2 - The asset-liability ratio of Hainan Aviation Technology decreased to approximately 71.59%, a reduction of about 27.91 percentage points compared to the beginning of 2025 [2] - The company has completed the necessary business registration changes and obtained a new business license from the Hainan Provincial Market Supervision Administration [2] - Hainan Aviation Technology's business scope includes maintenance, repair, and refurbishment of aircraft and engines, as well as providing technical services and training for domestic and international airlines [2]

Core Viewpoint - Hainan Airport announced a capital increase for its subsidiary, Hainan Airport Development Industry Group Co., Ltd., in collaboration with non-related party Hainan Airlines Holding Co., Ltd., to invest in Hainan Aviation Technology Co., Ltd. [1] Group 1: Capital Increase Details - The capital increase amounts to 766,846,188.39 RMB and 1,634,764,147.78 RMB, respectively, for a total investment in Hainan Aviation Technology Co., Ltd. [1] - After the capital increase, the registered capital of Hainan Aviation Technology will rise from 374,617.22 million RMB to 494,471.8371 million RMB [1] - The shareholding ratios of Hainan Airport and Hainan Airlines Holding in Hainan Aviation Technology will remain unchanged at 31.9305% and 68.0695%, respectively [1] Group 2: Financial Impact - The asset-liability ratio of Hainan Aviation Technology decreased to approximately 71.59%, a reduction of about 27.91 percentage points compared to the beginning of 2025 [1] - The completion of the capital increase and the registration changes have been finalized with the Hainan Provincial Market Supervision Administration [1]