Core Insights - HNA Holding has reported a significant increase in revenue and net profit for the first three quarters of 2025, marking a successful transition into a profitable cycle [1] - The company's strategic focus on international routes and management improvements has driven its recent performance [2][3] Financial Performance - The company achieved an operating revenue of 53.438 billion yuan and a net profit attributable to shareholders of 2.845 billion yuan, representing a year-on-year growth of 30.93% [1] - By the end of Q3, the net assets exceeded 5.382 billion yuan, indicating a positive trend in the company's financial fundamentals [1] - The net cash flow from operating activities reached 5.708 billion yuan, reflecting a solid cash flow position [1] International Business Growth - The international route business has become the core engine of growth, with a focus on expanding the international route network [2] - As of October, Hainan Airlines has opened or restored 16 international routes, with plans to execute 70 international and regional routes by year-end [2] - The international market revenue passenger kilometers increased by 47.79%, and the international passenger transport volume grew by 46.83%, exceeding 3 million passengers [2] Policy and Market Opportunities - The Hainan Free Trade Port policy is providing strong momentum for development, with the company preparing for the full operation of the island by December 2025 [3] - The company is building a composite route network of "domestic express + international transfer" to capture the expected surge in business and tourism demand post-closure [3] - Tax incentives and reduced costs from the free trade policies are expected to enhance the company's operational efficiency and competitiveness [3]

Group 1 - HNA Holding (SH 600221) announced on October 31 that its 10th Board of Directors held its 47th meeting via telecommunication on October 30, 2025, to review the proposal regarding the purchase of aircraft spare engines [1] - For the first half of 2025, HNA Holding's revenue composition was as follows: passenger revenue accounted for 87.52%, other business accounted for 8.12%, and cargo and excess baggage revenue accounted for 4.36% [1]

Core Viewpoint - Hainan Airlines Holdings has shown a mixed performance in the aviation industry, ranking fourth in revenue but second in net profit among its peers, indicating potential for growth despite challenges in profitability and debt levels [2][3]. Financial Performance - For Q3 2025, Hainan Airlines reported a revenue of 53.438 billion, ranking 4th in the industry, below Southern Airlines' 137.665 billion and Air China's 129.826 billion, but above the industry median of 35.459 billion [2] - The company's net profit for the same period was 2.976 billion, ranking 2nd in the industry, only behind Southern Airlines' 3.996 billion, and above the industry average of 1.86 billion [2] Debt and Profitability - As of Q3 2025, Hainan Airlines' debt-to-asset ratio was 96.80%, slightly down from 97.28% year-on-year, but significantly higher than the industry average of 75.72% [3] - The gross profit margin for Q3 2025 was 11.27%, an increase from 10.62% year-on-year, yet still below the industry average of 12.66% [3] Executive Compensation - The chairman, Zhu Tao, received a salary of 1.3152 million, a decrease of 211,400 from the previous year, while the president, Yu Chaojie, earned 497,900 [4] Shareholder Information - As of December 31, 2024, the number of A-share shareholders decreased by 1.32% to 116,000, with an average holding of 3,206.92 shares, an increase of 1.39% [5] - The company reported a total revenue of 33.1 billion for H1 2025, a year-on-year increase of 4%, with a net profit of 60 million, marking a return to profitability [5] Future Outlook - Analysts expect Hainan Airlines to maintain its 'SKYTRAX Five-Star Airline' status in 2025, with improved brand value and operational metrics, including a fleet utilization rate restored to 106.6% of 2019 levels [5] - Forecasted net profits for 2025, 2026, and 2027 are 1.256 billion, 3.1 billion, and 5.44 billion respectively, with corresponding PE ratios of 31.10X, 15.77X, and 10.94X [5]

Core Insights - HNA Group reported a revenue of 20.354 billion yuan for Q3 2025, representing a year-on-year increase of 1.84% [1] - The net profit attributable to shareholders for Q3 2025 was 2.788 billion yuan, showing a slight decline of 0.75% year-on-year [1] - For the first three quarters of 2025, the total revenue reached 53.438 billion yuan, which is a 3.3% increase compared to the same period last year [1] - The net profit for the first three quarters of 2025 was 2.845 billion yuan, reflecting a significant year-on-year growth of 30.93% [1]

Core Viewpoint - HNA Group plans to purchase 7 new Trent series spare aircraft engines from Rolls-Royce for a total transaction amount not exceeding $275 million to ensure future operational needs and reduce operating costs [1] Group 1 - The purchase is part of the company's fleet planning to support future production and operational requirements [1] - The transaction aims to lower operational costs for the company [1]

格隆汇10月30日丨海航控股(600221.SH)公布2025年第三季度报告，营业收入为203.54亿元，同比上升 1.84%；归属于上市公司股东的净利润为27.88亿元，同比下降0.75%；归属于上市公司股东的扣除非经 常性损益的净利润为27.54亿元，同比上升0.49%。 ...

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：2025-100 海南航空控股股份有限公司 关于购买飞机备用发动机的公告 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： 海南航空控股股份有限公司（以下简称"海航控股"或"公司"）拟向 ROLLS- ROYCE PLC 购买 7 台全新 Trent 系列备用飞机发动机，交易总金额不高 于 2.75 亿美元。 本次交易不构成关联交易，也不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 本次交易已达到股东大会审议标准，尚需公司股东大会审议。 本次购买备用发动机，系为保障公司未来飞机正常生产运营需要进行的 采购。双方已达成合作共识，但是后续可能存在发动机交付进度不达预期或受不 可抗力影响而延期等风险。敬请广大投资者谨慎决策，注意投资风险。 一、交易概述 （一）本次交易的基本情况 1.本次交易概况 根据公司机队规划，为保障公司的未来生产运营需要，降低运营成本，公司 拟向 ROLLS- ROYCE PLC 购买 7 ...

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 2025-099 报告全文详见上海证券交易所网站 http://www.sse.com.cn。 海南航空控股股份有限公司 第十届监事会第十四次会议决议公告 本公司监事会及全体监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 10 月 30 日，海南航空控股股份有限公司（以下简称"公司"）第十届监 事会第十四次会议以通讯方式召开，应参会监事 5 名，实际参会监事 5 名，符合《公 司法》和《公司章程》的有关规定。会议审议并通过《海南航空控股股份有限公司 2025 年第三季度报告》。 根据《证券法》及其他有关法律、法规的相关规定，公司监事会对公司2025年第 三季度报告作出书面审核意见如下： 一、公司2025年第三季度报告的编制和审议程序符合法律、法规、《公司章程》 和公司内部管理制度的各项规定。 二、公司2025年第三季度报告的内容和格式符合中国证监会和上海证券交易所的 各项规定，所披露的信息真实地反映本公司的经营管理和财务状况，不存在任何虚假 ...

公司董事会审议并表决通过公司 2025 年第三季度报告，报告全文详见上海证券 交易所网站 http://www.sse.com.cn。 表决结果：赞成 12 票，反对 0 票，弃权 0 票。 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 10 月 30 日，海南航空控股股份有限公司（以下简称"公司"）第十届 董事会第四十七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、海南航空控股股份有限公司 2025 年第三季度报告 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 2025-098 海南航空控股股份有限公司 第十届董事会第四十七次会议决议公告 二、关于购买飞机备用发动机的议案 特此公告。 海南航空控股股份有限公司 董事会 二〇二五年十月三十一日 公司董事会同意公司向 ROLLS- ROYCE PLC 购买 7 台全新 Trent 系列备用飞机 发动机，交易总金额不高于 2.7 ...

Financial Performance - The company's operating revenue for the third quarter reached CNY 20,354,210,000, representing a year-on-year increase of 1.84%[4] - The total profit for the period was CNY 2,967,848,000, with a year-to-date increase of 38.01% compared to the same period last year[8] - The net profit attributable to shareholders was CNY 2,787,966,000, showing a slight decrease of 0.75% year-on-year[4] - The basic earnings per share for the year-to-date period was CNY 0.0645, a decrease of 0.77% year-on-year[4] - Net profit for the first three quarters of 2025 reached CNY 2,976,455 thousand, an increase from CNY 2,159,666 thousand in the same period of 2024, representing a growth of approximately 37.8%[19] - Operating profit for the first three quarters of 2025 was CNY 2,955,637 thousand, compared to CNY 2,000,787 thousand in 2024, reflecting a significant increase of about 47.7%[19] - Total comprehensive income for the first three quarters of 2025 amounted to CNY 3,176,863 thousand, up from CNY 2,045,788 thousand in 2024, indicating a growth of approximately 55.3%[20] - Net profit for the first three quarters of 2025 was CNY 3,028,083, representing a growth of 6.2% compared to CNY 2,852,889 in the same period of 2024[30] Cash Flow - The net cash flow from operating activities was CNY 5,707,671,000, reflecting an increase of 8.23% compared to the same quarter last year[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 11,335,026 thousand, slightly down from CNY 11,592,940 thousand in 2024, a decrease of approximately 2.2%[22] - Cash flow from investing activities showed a net outflow of CNY 1,008,017 thousand in 2025, an improvement from a net outflow of CNY 1,367,194 thousand in 2024[23] - Cash flow from financing activities resulted in a net outflow of CNY 7,859,432 thousand in 2025, compared to a net outflow of CNY 7,925,855 thousand in 2024, indicating a slight improvement[23] - The total cash and cash equivalents at the end of the third quarter of 2025 stood at CNY 3,917,236 thousand, down from CNY 4,208,217 thousand at the end of the same period in 2024[23] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 149,568,639,000, which is a 5.55% increase from the previous year[5] - Total current assets increased to RMB 36,139,631 thousand as of September 30, 2025, from RMB 29,683,319 thousand at the end of 2024, representing a growth of 21.7%[14] - Total liabilities amounted to RMB 144,775,683 thousand as of September 30, 2025, up from RMB 140,165,563 thousand at the end of 2024, reflecting a rise of 3.8%[16] - Total equity attributable to shareholders increased significantly by 136.78% to CNY 5,381,884,000 compared to the end of the previous year[5] - Total equity increased to CNY 23,232,031 as of September 30, 2025, compared to CNY 19,931,080 at the end of 2024, reflecting a growth of 16.5%[27] Operational Efficiency - The company has adjusted its capacity and improved management efficiency, contributing to a 30.93% increase in net profit attributable to shareholders year-to-date[8] - The company is focusing on enhancing its route network and operational efficiency to drive future growth[8] Other Information - The company reported non-recurring gains and losses totaling CNY 33,736,000 for the current period[7] - The company has not reported any significant new strategies or product developments during the reporting period[12] - The company has not adopted new accounting standards starting from 2025[32] - The financial report was released by Hainan Airlines Holding Co., Ltd. on October 31, 2025[32]