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]

Group 1 - The average stock price of A-shares is 13.49 yuan, with 24 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.51 yuan [1] - Among the low-priced stocks, 12 are ST stocks, accounting for 50% of the total [1] - The Shanghai Composite Index closed at 3831.66 points as of September 18 [1] Group 2 - Among the low-priced stocks, 11 increased in price today, with the highest gainers being Yongtai Energy (up 10.32%), Liao Port Co. (up 2.75%), and *ST Su Wu (up 2.15%) [1] - Conversely, 11 stocks decreased in price, with the largest declines seen in Rongsheng Development (down 8.54%), *ST Gao Hong (down 5.56%), and Zhitian Tui (down 5.36%) [1] - The stock price performance of low-priced stocks shows a mixed trend, indicating volatility in this segment [1]

Core Viewpoint - The aviation and airport sector experienced a decline of 2.43% on September 18, with Huaxia Airlines leading the drop. The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1]. Group 1: Stock Performance - The following stocks in the aviation and airport sector showed notable performance: - Hainan Airlines (600221) closed at 1.73, up 1.17% with a trading volume of 15.53 million shares [1]. - Baiyun Airport (600004) closed at 9.54, down 1.24% with a trading volume of 265,400 shares [1]. - Shanghai Airport (600009) closed at 31.94, down 1.39% with a trading volume of 146,200 shares [1]. - Spring Airlines (601021) closed at 53.31, down 1.82% with a trading volume of 63,800 shares [1]. - Xiamen Airport (600897) closed at 14.43, down 1.84% with a trading volume of 44,300 shares [1]. - Shenzhen Airport (000089) closed at 7.06, down 1.94% with a trading volume of 172,400 shares [1]. - Juneyao Airlines (603885) closed at 13.25, down 2.50% with a trading volume of 254,300 shares [1]. - CITIC Offshore Helicopter (000099) closed at 22.35, down 2.78% with a trading volume of 253,700 shares [1]. - Air China (601111) closed at 7.81, down 3.46% with a trading volume of 859,500 shares [1]. - China Eastern Airlines (600115) closed at 4.04, down 3.81% with a trading volume of 1,648,800 shares [1]. Group 2: Capital Flow - The aviation and airport sector saw a net outflow of 370 million yuan from institutional investors, while retail investors contributed a net inflow of 210 million yuan [2]. - The following stocks experienced significant capital flow: - Shenzhen Airport (000089) had a net inflow of 9.26 million yuan from institutional investors, but a net outflow of 733.53 million yuan from retail investors [3]. - Huaxia Airlines (002928) had a net inflow of 5.35 million yuan from institutional investors, with a net outflow of 137.69 million yuan from retail investors [3]. - Xiamen Airport (600897) had a net inflow of 1.24 million yuan from institutional investors, but a net outflow of 890.25 million yuan from retail investors [3]. - Shanghai Airport (600009) experienced a net outflow of 17.38 million yuan from institutional investors, while retail investors contributed a net inflow of 453.53 million yuan [3]. - Baiyun Airport (600004) had a net outflow of 21.21 million yuan from institutional investors, but a net inflow of 1.26 million yuan from retail investors [3].

该航线于9月13日开通，每周2班往返，在海口经停2.5小时。 证券之星 微信 扫描二维码 关注 证券之星微信 （原标题：刘鹏翔副总领事出席海南航空新航线开航仪式） 9月14日，刘鹏翔副总领事出席海南航空重庆—海口——奥克兰航线开航仪式并致辞。海航奥克兰营业部总经理、奥克兰机场 首席客户官、首航机组人员等参加此次活动。负责经商事务的领事果鹏文陪同。 刘副总表示，海南航空将奥克兰至海口航线延伸至重庆，有助于提升重庆市国际影响力及奥克兰航空枢纽地位，对加强两地 经贸合作和人文交流具有重要意义。希望海航与奥克兰机场加强合作，为旅客提供优质服务，努力打造精品航线，更好地展现中 国品牌和中国形象。 ...

Core Insights - The aviation and airport sector experienced a 2.16% increase on September 17, with China Eastern Airlines leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Stock Performance - China Eastern Airlines (600115) closed at 4.20, up 4.48% with a trading volume of 2.43 million shares and a turnover of 1.007 billion [1] - Xiamen Airport (600897) saw a slight decline of 0.14%, closing at 14.70 with a trading volume of 29,500 shares [2] - The highest gainers included China Eastern Airlines, Xiamen Airlines, and Southern Airlines, with respective increases of 4.48%, 3.03%, and 2.98% [1][2] Capital Flow - The aviation and airport sector saw a net inflow of 106 million in main funds, while retail funds had a net inflow of 103 million [2] - The main funds showed a net outflow of 210 million, indicating a mixed sentiment among institutional investors [2] Individual Stock Capital Flow - China Eastern Airlines had a net outflow of 50.94 million from main funds but a net inflow of 34.51 million from retail investors [3] - China Southern Airlines experienced a net inflow of 6.64 million from main funds, indicating positive retail sentiment despite overall mixed capital flow [3] - Xiamen Airport faced a significant net outflow of 15.59 million from main funds, suggesting weaker institutional interest [3]

Group 1 - The average stock price of A-shares is 13.65 yuan, with 24 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.54 yuan [1] - Among the low-priced stocks, 12 are ST stocks, accounting for 50% of the total [1] - The Shanghai Composite Index closed at 3876.34 points as of September 17 [1] Group 2 - Among the low-priced stocks, three increased in price today, with *ST Yuan Cheng leading at a rise of 4.97% [1] - The majority of low-priced stocks, 17 in total, experienced declines, with Rongsheng Development falling by 6.13% [2][1] - The trading volume and turnover rates vary significantly among low-priced stocks, with *ST Gao Hong having a turnover rate of 0.24% [1]

Investment Rating - The investment rating for the aviation transportation industry is "Positive" [2] Core Insights - The industry has maintained a high passenger load factor since the beginning of 2025, with a low growth rate in domestic capacity and a focus on increasing international routes. The net growth rate of airline fleets is below 3%, indicating a tight supply situation. The passenger load factor has improved compared to the same period last year and 2019, particularly in domestic routes. Domestic turnover has shown steady growth, while international turnover has significantly recovered to levels close to 2019 [13][14] - During the summer travel season, the industry experienced a high passenger load factor, and the decline in ticket prices has narrowed. This is expected to lead to a significant improvement in airlines' unit revenue. Additionally, the implementation of measures to curb "involution" and the "Self-Regulation Convention" by the China Air Transport Association is anticipated to reduce malicious price competition, potentially leading to a recovery in ticket prices and further boosting airlines' unit revenue [3][14] - The average ticket price in China for 2025 has been 864 yuan, down 8.8% year-on-year. The average ticket prices during the summer travel season in July and August were down 8.8% and 7.3% year-on-year, respectively, with a narrowing decline in August compared to the previous month [4][30] Summary by Sections 1. Investment Recommendations - The report suggests a positive outlook for airlines, particularly focusing on Southern Airlines, China Eastern Airlines, Air China, Spring Airlines, and Juneyao Airlines [3][14] 2. Capacity Growth and Passenger Load Factor - The industry has seen a high passenger load factor with a slowdown in capacity growth. In July 2025, the industry’s ASK and RPK increased by 5.5% and 6.1% year-on-year, respectively, with a passenger load factor of 84.5%, up 0.5 percentage points year-on-year [18][22] 3. Ticket Prices - The decline in ticket prices has narrowed, with the average ticket price in September showing a year-on-year decrease of 6.2%. The average ticket price for the first half of September was down 3.8% year-on-year [4][30] 4. Fuel Prices and Exchange Rates - The average price of aviation fuel in Q3 decreased by 11.2% year-on-year, with the domestic aviation fuel price in September dropping to 5545 yuan per ton, down 7.6% year-on-year. The exchange rate of the RMB has appreciated since the beginning of 2025 [5][42]