Core Viewpoint - The three major Chinese airlines (Air China, China Eastern Airlines, and China Southern Airlines) are expected to report significant reductions in net losses for the first half of 2025, but the overall performance remains uneven compared to international counterparts like Delta Airlines, highlighting a complex recovery landscape in the domestic aviation market [1][2]. Group 1: Financial Performance - Air China anticipates a net loss of between 17 billion to 22 billion yuan, with a non-recurring net loss of 18 billion to 24 billion yuan, showing improvement from a net loss of 27.82 billion yuan in the same period of 2024 [2]. - China Eastern Airlines expects a net loss of 12 billion to 16 billion yuan, with a non-recurring net loss of 16 billion to 21 billion yuan, down from a net loss of 27.68 billion yuan year-on-year [2]. - China Southern Airlines projects a net loss of 13.38 billion to 17.56 billion yuan, with a non-recurring net loss of 17.54 billion to 23.80 billion yuan, although its net loss is slightly higher than the previous year's 12.28 billion yuan [2]. Group 2: Factors Influencing Performance - The reduction in losses for the three major airlines is attributed to various strategies, including improved aircraft utilization, marketing strategies, and cost control measures [2]. - The airlines face challenges from high-speed rail competition on short-haul routes and insufficient ticket revenue, despite passenger volumes recovering to or exceeding 2019 levels [3][6]. - Hainan Airlines is expected to achieve a net profit of 45 million to 65 million yuan, indicating successful capacity adjustments and refined management compared to the larger airlines [3]. Group 3: Market Trends and Expectations - The civil aviation industry in China has shown significant recovery momentum, with passenger transport volume reaching 370 million in the first half of 2025, a 5.9% increase year-on-year [4]. - During the summer travel season, passenger transport volume is expected to reach 150 million, reflecting a 5.4% year-on-year growth [4]. - Despite the recovery, the average ticket price for domestic routes has decreased by 7.1%, indicating ongoing challenges in profitability for airlines [5]. Group 4: Future Outlook - The outlook for the second half of 2025 suggests that the three major airlines may further reduce losses, supported by declining fuel costs and a surge in outbound travel demand [4]. - However, the recovery path is complicated by factors such as consumer travel willingness, weather conditions, and ongoing competition from high-speed rail [6].

Core Viewpoint - Hainan Airlines Holding Co., Ltd. reported significant growth in operational metrics, with passenger traffic and cargo volume showing notable increases in the latest period compared to the previous year [2][3][4]. Operational Data Summary - **Revenue Passenger Kilometers (RPK)**: Total RPK increased by 7.62% year-on-year, with domestic RPK at 8,296.26 million (up 2.25%), regional RPK at 28.27 million (up 34.27%), and international RPK at 2,146.86 million (up 34.53%) [2][3]. - **Revenue Ton Kilometers (RTK)**: Total RTK rose by 11.88% year-on-year, with domestic RTK at 805.22 million (up 4.52%), regional RTK at 2.63 million (up 33.96%), and international RTK at 302.95 million (up 37.40%) [2][3]. - **Passenger Numbers**: Total passenger count reached 5,448.48 thousand, reflecting a 2.59% increase, with domestic passengers at 5,109.10 thousand (up 0.88%), regional at 21.58 thousand (up 32.19%), and international at 317.80 thousand (up 38.11%) [2][3]. - **Cargo and Mail Volume**: Total cargo and mail volume increased by 35.05%, with domestic at 42.41 thousand tons (up 34.37%), regional at 0.09 thousand tons (up 29.82%), and international at 12.86 thousand tons (up 37.38%) [2][3]. - **Available Seat Kilometers (ASK)**: Total ASK grew by 8.97% year-on-year, with domestic ASK at 9,671.96 million (up 2.11%), regional at 38.90 million (up 31.55%), and international at 2,994.63 million (up 38.78%) [2][3]. - **Cargo Mail Load Factor**: The cargo mail load factor increased by 10.24 percentage points, with domestic at 40.72% (up 7.08 pts), regional at 27.03% (down 2.61 pts), and international at 79.47% (up 12.29 pts) [3][4]. Additional Notes - The operational data is based on internal company records and has not been audited, indicating potential adjustments in the future [4].

临时公告 证券代码：600221、600221 证券简称：海航控股、海控 B 股 公告编号：2025-059 海南航空控股股份有限公司 关于为控股子公司提供担保的实施公告 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： 担保对象及基本情况 | | | 被担保人名称 | | 大新华飞机维修服务有限公司 | | | --- | --- | --- | --- | --- | --- | | 担 | 保 对 | 本次担保金额 | 5000 | 万元 | | | 象 | | 实际为其提供的担保余额 | 4700 | 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | 是 | □否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 | 248,118.12 | | 子公司对外担保余额（万元） | | | 对外担保余额占 ...

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 2025-058 临时公告 海南航空控股股份有限公司 2025 年 6 月主要运营数据公告 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 6 月，海南航空控股股份有限公司及所属子公司（以下简称"本集团"） 合并主要运营数据如下： | 载运量 | 2025 年 6 | 月 | 2025 年累计 | | | --- | --- | --- | --- | --- | | 数值 | | 同比变动（%） | 数值 | 同比变动（%） | | 收入客公里（RPK）（百万） | | | | | | 国内 | 8296.26 | 2.25 | 51793.50 | 3.54 | | 地区 | 28.27 | 34.27 | 140.73 | 60.07 | | 国际 | 2146.86 | 34.53 | 12545.93 | 68.68 | | 合计 | 10471.39 | 7.62 | 64480.17 | 12.05 | | ...

本报讯 7月14日晚，海南航空控股股份有限公司（以下简称"海航控股"）发布2025年半年度业绩预告。 报告显示，海航控股2025年半年度归属于母公司所有者的净利润预计4500万元到6500万元，与上年同期 （法定披露数据）相比，将实现扭亏为盈。 （文章来源：证券日报） 据了解，海航控股正致力于加大国际航线网络的开拓，目标是在年底前将国际航班数量提升至2019年的 130%，以提高其全球市场竞争力。2025年上半年，海航控股已累计新辟12条国际航线，覆盖亚洲、欧 洲及大洋洲等主要区域，显著增强国际航线网络竞争力，助力民航复苏及国际交流。 此外，海航控股所处海航航空集团在客运、货运、通用航空、维修、航校等航空产业链有丰富布局，公 司与集团内非上市公司间资源共享、业务上下游紧密合作，具有强大协同效应。 同时，海航控股率先通过能源管理体系认证，依托航路优化、新一代发动机水洗设备、APU管控等30余 项举措，并以机组加油符合度管控、CircleFly运行、单发滑入等节油项目为抓手，年度累计节油12.5万 吨，减排23.9万吨，降低运营成本，同时助力"双碳"目标落地。 海航控股锚定"安全第一、服务第一、利润第一"的世界级 ...

Group 1 - Cathay Pacific Haikou expects a net profit increase of 205%-218% for the first half of 2025, with a projected profit of 15.283 billion to 15.957 billion yuan [1] - The main reason for the profit increase is the merger with Haitong Securities, which has led to significant growth in wealth management and trading revenues [1] - Shenyuan Hongyuan anticipates a net profit increase of 92.66%-111.46% for the first half of 2025, with a projected profit of 4.1 billion to 4.5 billion yuan [6][7] Group 2 - Southern Airlines expects a net loss of 1.338 billion to 1.756 billion yuan for the first half of 2025, primarily due to changes in passenger structure and international uncertainties [2] - China Eastern Airlines projects a net loss of 1.2 billion to 1.6 billion yuan for the first half of 2025, influenced by intense domestic market competition [3] - Air China anticipates a net loss of 1.7 billion to 2.2 billion yuan for the first half of 2025, affected by market supply imbalances and international uncertainties [4] Group 3 - HNA Group expects to turn a profit in the first half of 2025, with a projected net profit of 45 million to 65 million yuan, attributed to improved market conditions and operational adjustments [5] - CICC forecasts a net profit increase of 55%-78% for the first half of 2025, with a projected profit of 3.453 billion to 3.966 billion yuan [8] - CITIC Securities anticipates a net profit increase of 55%-60% for the first half of 2025, with a projected profit of 4.43 billion to 4.573 billion yuan [9] Group 4 - Shandong Gold expects a net profit of 2.55 billion to 3.05 billion yuan for the first half of 2025, representing an increase of 84.3%-120.5% [10] - Poly Developments anticipates a net profit decrease of 63.15% for the first half of 2025, with a projected profit of 2.735 billion yuan [11] - Luoyang Molybdenum expects a net profit increase of 51%-68% for the first half of 2025, with a projected profit of 8.2 billion to 9.1 billion yuan [13] Group 5 - Longi Green Energy expects a net loss of 2.4 billion to 2.8 billion yuan for the first half of 2025, but with a significant reduction in losses compared to the previous year [14] - Tongwei Co. anticipates a net loss of 4.9 billion to 5.2 billion yuan for the first half of 2025, influenced by ongoing industry challenges [15] - Ganfeng Lithium expects a net loss of 300 million to 550 million yuan for the first half of 2025, an improvement from the previous year's loss [16] Group 6 - Jianghuai Automobile expects a net loss of approximately 680 million yuan for the first half of 2025, primarily due to increased competition in the international market [21] - Yonghui Supermarket anticipates a net loss of 240 million yuan for the first half of 2025, attributed to ongoing transformation challenges [22] - ST Huatuo expects a net profit increase of 107.2%-159% for the first half of 2025, with a projected profit of 2.4 billion to 3 billion yuan [23] Group 7 - New Hope anticipates a net profit of 680 million to 780 million yuan for the first half of 2025, marking a turnaround from losses [25] - Linyi Intelligent Manufacturing expects a net profit increase of 32%-67% for the first half of 2025, with a projected profit of 900 million to 1.14 billion yuan [27] - Pengding Holdings expects a net profit increase of 52.79%-60.62% for the first half of 2025, with a projected profit of 1.198 billion to 1.26 billion yuan [29] Group 8 - Hengtong Electronics expects a net profit increase of 740.95% for the first half of 2025, with a projected profit of approximately 251 million yuan [30] - Shengyi Technology anticipates a net profit increase of 50%-56% for the first half of 2025, with a projected profit of 1.4 billion to 1.45 billion yuan [31] - Founder Securities expects a net profit increase of 70%-80% for the first half of 2025, with a projected profit of 2.299 billion to 2.43 billion yuan [33]

Group 1 - The company expects a net profit attributable to shareholders of the parent company for the first half of 2025 to be between 45 million and 65 million yuan, indicating a turnaround from previous losses [1][3] - The company anticipates a net loss attributable to shareholders of the parent company, excluding non-recurring gains and losses, to be between 40 million and 60 million yuan [1][3] - The previous year's net profit attributable to shareholders of the parent company was a loss of 636.04 million yuan, with a total profit of -773.29 million yuan [1][3] Group 2 - The main reasons for the expected profit turnaround include improvements in operational efficiency, a decrease in fuel prices, and gains from asset disposals [3] - The company has benefited from foreign exchange gains due to the appreciation of the yuan against the dollar, as most of its lease debts and some loans are settled in foreign currency [3]

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 2025-057 海南航空控股股份有限公司 关于累计新增诉讼（仲裁）及已披露诉讼进展的公告 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： ●累计诉讼（仲裁）涉案金额：36,927.00 万元 ●是否会对上市公司损益产生负面影响：部分案件尚未产生具有法律效力的判决、 裁定或未执行完毕，对本期利润或期后利润产生的影响需以法院生效判决或执行结果 为准。针对已生效的判决，公司将根据企业会计准则的相关规定进行账务处理，预计 不会对公司本期利润或期后利润产生重大影响。公司将依据相关法律规定，积极行使 诉讼权利，维护公司及股东的合法权益。 1 临时公告 计净资产绝对值的 10%。累计新增诉讼（仲裁）具体情况如下： | 原告 | 被告 | 第三人 | 案件类型 | 涉案金额（万 | 进展情况 | | --- | --- | --- | --- | --- | --- | | | | | | 元） | | | 中国建设银行股 | 广州市 ...

重要内容提示： 一、本期业绩预告情况 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 2025-056 海南航空控股股份有限公司 2025 年半年度业绩预盈公告 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。 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 二、上年同期经营业绩情况 （一）利润总额：-77,329 万元。归属于母公司所有者的净利润：-63,604 万元。 归属于母公司所有者的扣除非经常性损益的净利润：-87,007 万元。 （二）业绩预告情况 1.经财务部门初步测算，预计 2025 年半年度实现归属于母公司所有者的净利润 4,500 万元到 6,500 万元，与上年同期（法定披露数据）相比，将实现扭亏为盈。 2. 预计 2025 年半年度实现归属于母公司所有者的扣除非经常性损益后的净利润 亏损 4,000 万元到 6,000 万元。 （三）本次业绩预告数据系公司初步测算，未经审计。 1 五、其他说明事项 以上预告数据仅为初步核算数 ...

Market Overview - The Shanghai Composite Index closed at 3525.40 points, above the annual line, with a change of 0.43% [1] - The total trading volume of A-shares reached 987.43 billion yuan [1] Stocks Breaking Annual Line - A total of 41 A-shares have surpassed the annual line today, with notable stocks including: - Siyuan Electric (002028) with a deviation rate of 7.62% - Tongyi Co., Ltd. (300538) with a deviation rate of 2.51% - Ruisheng Technology (688090) with a deviation rate of 2.05% [1] Stocks with Significant Deviation Rates - The stocks with the highest deviation rates from the annual line include: - Siyuan Electric: 10.00% increase, trading at 76.99 yuan - Tongyi Co., Ltd.: 2.50% increase, trading at 16.00 yuan - Ruisheng Technology: 3.24% increase, trading at 35.10 yuan [1] Additional Stocks with Minor Deviations - Other stocks that have just crossed the annual line with smaller deviation rates include: - Qianjiang Motorcycle, Jiuquan Technology, and Huadian International, which have just reached the annual line [1]