证券代码：601111 股票简称：中国国航 公告编号：2025-046 中国国际航空股份有限公司 2025年9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 9 月，中国国际航空股份有限公司（以下简称"本公司"）及所属 子公司（以下简称"本集团"）合并旅客周转量（按收入客公里计）同比上升。 客运运力投入（按可用座位公里计）同比上升 1.2%，旅客周转量同比上升 5.6%。 其中，国内客运运力投入同比下降 0.3%，旅客周转量同比上升 3.4%；国际客运 运力投入同比上升 4.8%，旅客周转量同比上升 11.4%；地区客运运力投入同比 下降 0.8%，旅客周转量同比上升 6.6%。平均客座率 83.2%，同比上升 3.5 个百 分点。其中，国内航线同比上升 3.0 个百分点，国际航线同比上升 4.7 个百分点， 地区航线同比上升 5.1 个百分点。 货运方面，货运运力投入（按可用货运吨公里计）同比下降 2.9%，货邮周 转量（按收入货运吨公里计）同比上升 4.6%。货运载运率为 41.4%，同比 ...

Core Viewpoint - China National Airlines (601111) reported an increase in passenger capacity and turnover for September, while cargo capacity saw a decline but cargo turnover increased [1] Group 1: Passenger Operations - Passenger capacity (measured in available seat kilometers) increased by 1.2% year-on-year in September [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 5.6% year-on-year [1] Group 2: Cargo Operations - Cargo capacity (measured in available cargo ton kilometers) decreased by 2.9% year-on-year [1] - Cargo turnover (measured in revenue cargo ton kilometers) increased by 4.6% year-on-year [1]

南财智讯10月15日电，中国国航公告，9月旅客运输量为13082.2千人，同比增长3.7%，平均客座率提升 至83.2%，同比上升3.5个百分点。货运运力投入同比下降2.9%，但货邮周转量同比上升4.6%，货运载运 率为41.4%，同比上升3.0个百分点。当月新增北京大兴-赣州瑞金航线，同时引进多架新飞机并退出部 分老旧飞机，截至月底，集团共运营946架飞机。 ...

Core Insights - The company announced an increase in consolidated passenger turnover (measured in revenue passenger kilometers) for September 2025 compared to the previous year [1] Capacity and Turnover Summary - Passenger capacity input (measured in available seat kilometers) increased by 1.2% year-on-year, while passenger turnover rose by 5.6% [1] - Domestic passenger capacity input decreased by 0.3%, with passenger turnover increasing by 3.4% [1] - International passenger capacity input increased by 4.8%, leading to a 11.4% rise in passenger turnover [1] - Regional passenger capacity input saw a decline of 0.8%, but passenger turnover increased by 6.6% [1] Load Factor Analysis - The average passenger load factor reached 83.2%, an increase of 3.5 percentage points year-on-year [1] - Domestic routes experienced a load factor increase of 3.0 percentage points [1] - International routes saw a load factor increase of 4.7 percentage points [1] - Regional routes had a load factor increase of 5.1 percentage points [1]

Core Insights - The aviation and airport sector experienced a significant increase of 4.15% on October 15, with Huaxia Airlines leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Stock Performance Summary - Huaxia Airlines (002928) closed at 10.76, up 10.02% with a trading volume of 355,600 shares and a transaction value of 369 million [1] - China National Aviation (601111) closed at 8.27, up 6.99% with a trading volume of 1,570,800 shares and a transaction value of 1.269 billion [1] - 吉祥航空 (603885) closed at 14.05, up 6.76% with a trading volume of 391,300 shares and a transaction value of 539 million [1] - China Eastern Airlines (600115) closed at 4.39, up 5.78% with a trading volume of 2,425,000 shares and a transaction value of 1.046 billion [1] - China Southern Airlines (600029) closed at 6.30, up 5.18% with a trading volume of 1,435,300 shares and a transaction value of 889 million [1] - Spring Airlines (601021) closed at 53.68, up 2.85% with a trading volume of 107,000 shares and a transaction value of 566 million [1] - HNA Holding (600221) closed at 1.67, up 2.45% with a trading volume of 5,192,500 shares and a transaction value of 859 million [1] - Shenzhen Airport (000089) closed at 7.10, up 1.28% with a trading volume of 141,200 shares and a transaction value of 99.67 million [1] - Shanghai Airport (600009) closed at 31.88, up 0.92% with a trading volume of 91,400 shares and a transaction value of 290 million [1] - Baiyun Airport (600004) closed at 9.60, up 0.63% with a trading volume of 212,200 shares and a transaction value of 203 million [1] Capital Flow Analysis - The aviation and airport sector saw a net inflow of 362 million from institutional investors, while retail investors experienced a net outflow of 206 million [2] - Major stocks like HNA Holding and China Southern Airlines had varying net inflows and outflows from different investor types, indicating mixed investor sentiment [3] - HNA Holding had a net inflow of 11.7 million from institutional investors, while retail investors showed a net outflow of 47.34 million [3]

Market Overview - The A-share market rebounded, with the Shanghai Composite Index rising by 1.22% to close above 3900 points, while the Shenzhen Component Index and the ChiNext Index increased by 1.73% and 2.36% respectively [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 2.07 trillion yuan, a decrease of 503.4 billion yuan compared to the previous trading day [1] Sector Performance - The aviation transportation, innovative drugs, robotics, and charging pile sectors showed strong gains, while sectors such as photolithography and rare earths experienced declines [5][6] - The aviation sector saw significant stock price increases, with Huaxia Airlines reaching the daily limit, and other major airlines like China National Aviation and China Eastern Airlines rising over 5% [7][8] Robotics Sector - The robotics sector experienced a strong afternoon rally, with Zhenghe Industrial hitting the daily limit and achieving a historical high, while other companies like Sanhua Intelligent Control also saw significant gains [9][10] - There are rumors of Tesla placing a $685 million order for linear actuators with Sanhua Intelligent Control, which the company is currently verifying [9] Innovative Pharmaceuticals - The innovative pharmaceutical sector continued its upward trend, with stocks like Guangshengtang and Shutaishen increasing by over 17% and 12% respectively [11] - Anticipation is building for the upcoming European Society for Medical Oncology (ESMO) conference, where significant clinical research results are expected to be announced [11] - In the first eight months of 2025, the number of business development transactions by Chinese innovative pharmaceutical companies reached 83, with a total transaction value of 84.5 billion yuan, marking a 62.81% increase compared to the entire year of 2024 [11]

Core Viewpoint - China International Airlines (Air China) experienced a stock price increase of 5.17%, reaching 8.13 CNY per share, with a trading volume of 709 million CNY and a turnover rate of 0.77%, resulting in a total market capitalization of 141.856 billion CNY [1] Group 1: Company Overview - Air China is headquartered in Beijing and was established on March 27, 2006, with its listing date on August 18, 2006 [1] - The company's main business includes air passenger transport and air cargo and mail services, with revenue composition as follows: air passenger transport 90.64%, other services 4.93%, and air cargo and mail services 4.43% [1] Group 2: Fund Holdings - In terms of fund holdings, Invesco Great Wall Fund has a significant position in Air China, with its Invesco Great Wall Rui Cheng Mixed A Fund (004707) increasing its holdings by 343,700 shares in the second quarter, totaling 2.5309 million shares, which accounts for 3.48% of the fund's net value, ranking it as the seventh-largest holding [2] - The Invesco Great Wall Rui Cheng Mixed A Fund was established on November 10, 2017, with a current size of 486 million CNY and has achieved a year-to-date return of 35.55%, ranking 1869 out of 8161 in its category [2] - The fund's performance over the past year shows a return of 29.68%, ranking 2478 out of 8015, and since its inception, it has returned 102.98% [2]

上周，美国运输部提议禁止中国航空公司飞越俄罗斯往返美国的航线，并表示飞行时间的减少使美国航 空公司处于不利地位。 (责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇10月15日｜美国特朗普政府此前提议禁止中国航空公司使用途经俄罗斯领空的路线往返美国。美 国联合航空敦促将禁令扩大至国泰航空，以及其他以香港为基地的航空公司。 内地主要航空公司促请放弃禁止飞越俄罗斯的计划，称将增加飞行时间、提高机票价格，并可能扰乱一 些航线。东航表示，此举可能会使其部分最重要航线的飞行时间延长2至3个小时，大大增加错过转机的 风险，并增加燃油消耗。国航及南航表示，这项决定将对美国和中国的大量乘客产生不利影响。南航预 计，至少有2800名原定于11月至12月假期高峰期间出行的乘客需要重新订票，这将危及他们的旅行计 划。 ...

国信证券发布研报称，四季度进入出行淡季，去年同期公商务出行需求相对较弱，今年同比或有一定修 复。未来运力供给增速放缓确定性增强，若出行需求能保持稳增，带动航司座收持续修复，有望带来航 司业绩高弹性；叠加油价中枢下行、汇率稳定等，航司利润向上空间可期。 航空股集体走高，截至发稿，东方航空(00670)涨5.43%，报3.3港元；中国国航（601111）(00753)涨 4.24%，报5.65港元；南方航空（600029）(01055)涨3.24%，报4.14港元；国泰航空(00293)涨1.23%，报 10.66港元。 消息面上，国庆及中秋假期八天，全社会跨区域人员流动量累计达到24.33亿人次，日均同比+6.3%，较 2019年同期+30.8%。去年同期国庆假期（七天）民航出行基数较高，日均客流量同比+11.1%；今年同 期假期八天，民航日均客流同比仍实现+3.3%增长。航班管家数据显示，假期国内线经济舱平均票价 849元，同比+0.3%，基本持平，对比2019年同期微降1.4%，假期票价表现较为平稳。 ...

Domestic Flight Schedule - Domestic airlines' average daily flight schedule for winter 2025 is 15,439 flights, a decrease of 1.8% compared to 2024 and an increase of 20% compared to 2019[4] - Total average daily flight schedule for domestic airlines is 16,911 flights, down 1.6% from 2024 and up 15% from 2019[4] - The average daily flight schedule for international flights is 1,276, an increase of 1.8% from 2024 but a decrease of 19% from 2019[4] International and Regional Flight Recovery - International flight schedules are recovering to 81% of 2019 levels, with domestic airlines' international flights averaging 1,472, maintaining the same recovery rate as 2024[6] - Flights to Australia, North America, Southeast Asia, and Europe are recovering to 79%, 25%, 77%, and 129% of 2019 levels respectively[6] - The average daily flight schedule for international and regional flights is 2,403, recovering to 77% of 2019 levels[52] Investment Insights - The aviation sector is expected to see significant improvements in profitability, driven by strong supply logic and elastic demand[6] - Recommended stocks include China Eastern Airlines, Spring Airlines, China National Aviation, and others, with a focus on the aviation sector's recovery potential[6] - Risks include fluctuations in oil prices, economic growth not meeting expectations, and aviation safety incidents[6]