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。 证券代码：603885 证券简称：吉祥航空 公告编号：临 2025-078 上海吉祥航空股份有限公司 2025 年 10 月主要运营数据公告 上海吉祥航空股份有限公司（以下简称"吉祥航空"或"公司"）及所属子 公司九元航空有限公司（以下简称"九元航空"）2025 年 10 月份合并主要运营 数据： 新增岳阳—成都天府往返航线（每周 4 班） （一）运营情况 新增无锡—惠州—海口往返航线（每周 7 班） 2025 年 10 月，公司客运运力投入（按可用座位公里计）同比下降 0.81%， 其中国内、国际和地区航线客运运力投入同比变动分别为-6.88%、18.29%和 -34.55%；旅客周转量（按收入客公里计）同比上升 1.51%，其中国内、国际和 地区航线旅客周转量同比变动分别为-6.18%、30.57%和-30.26%；客座率为 87.16%，同比上升 1.99%，其中国内、国际和地区航线客座率同比变动分别为 0.68%、7.55%和 5.38%。 2025 年 10 月，吉祥航 ...

Core Insights - The company reported a year-on-year decrease of 0.81% in passenger capacity input for October 2025, with domestic, international, and regional routes showing changes of -6.88%, 18.29%, and -34.55% respectively [1] - Passenger turnover increased by 1.51% year-on-year, with domestic, international, and regional routes experiencing changes of -6.18%, 30.57%, and -30.26% respectively [1] - The passenger load factor reached 87.16%, up 1.99% year-on-year, with domestic, international, and regional routes showing changes of 0.68%, 7.55%, and 5.38% respectively [1] Domestic Operations - Domestic passenger capacity input increased by 4.69% month-on-month in October 2025 [1] - Domestic passenger turnover rose by 6.01% month-on-month [1] - Domestic route passenger load factor increased by 1.12% month-on-month [1] International Operations - International passenger capacity input increased by 1.99% month-on-month [1] - International passenger turnover rose by 3.10% month-on-month [1] - International route passenger load factor increased by 0.86% month-on-month [1] Fleet Information - As of October 31, 2025, the company operated 93 A320 series aircraft, including 27 A321, 22 A320neo, and 14 A321neo models, along with 10 Boeing 787 series aircraft [2] - The subsidiary, Jiuyuan Airlines, operated 26 Boeing 737 series aircraft [2]

Core Insights - The company, Juneyao Airlines (603885.SH), reported a year-on-year decrease of 0.81% in passenger capacity input (measured in available seat kilometers) for October 2025 [1] - Domestic, international, and regional passenger capacity inputs changed by -6.88%, 18.29%, and -34.55% respectively [1] - Passenger turnover (measured in revenue passenger kilometers) increased by 1.51% year-on-year, with domestic, international, and regional turnover changes of -6.18%, 30.57%, and -30.26% respectively [1] - The passenger load factor reached 87.16%, up by 1.99% year-on-year, with domestic, international, and regional load factors changing by 0.68%, 7.55%, and 5.38% respectively [1] Domestic Operations - In October 2025, domestic passenger capacity input increased by 4.69% month-on-month [1] - Domestic passenger turnover rose by 6.01% month-on-month [1] - The domestic route passenger load factor increased by 1.12% month-on-month [1] International Operations - International passenger capacity input rose by 1.99% month-on-month [1] - International passenger turnover increased by 3.10% month-on-month [1] - The international route passenger load factor saw a month-on-month increase of 0.86% [1]

吉祥航空（603885）(603885.SH)发布公告，2025年10月，公司客运运力投入(按可用座位公里计)同比下 降0.81%，其中国内、国际和地区航线客运运力投入同比变动分别为-6.88%、18.29%和-34.55%;旅客周 转量(按收入客公里计)同比上升1.51%，其中国内、国际和地区航线旅客周转量同比变动分别 为-6.18%、30.57%和-30.26%;客座率为87.16%，同比上升1.99%，其中国内、国际和地区航线客座率同 比变动分别为0.68%、7.55%和5.38%。 2025年10月，公司国内客运运力投入(按可用座位公里计)较上月环比上升4.69%，国内旅客周转量(按收 入客公里计)环比上升6.01%，国内航线客座率环比上升1.12%。国际客运运力投入(按可用座位公里计) 较上月环比上升1.99%，国际旅客周转量(按收入客公里计)环比上升3.10%，国际航线客座率环比上升 0.86%。 ...

Investment Rating - The report maintains a positive outlook on cyclical sectors, indicating that quality dividend stocks still have upward potential [1]. Core Insights - The transportation industry showed stable performance in the first three quarters of 2025, with infrastructure sector key stocks meeting expectations, shipping stocks recovering, and express delivery volumes and prices increasing due to anti-involution policies [1][7]. - The report emphasizes the importance of monitoring cyclical sector fundamentals and highlights the potential for further gains in quality dividend stocks [1][7]. Summary by Sections Overview of the Transportation Sector - The overall performance of the transportation industry from the beginning of 2025 to November 10 showed an increase of 8.5%, underperforming compared to the Shanghai and Shenzhen 300 index, which rose by 31.6% [11]. - The logistics sector benefited from anti-involution policies, while infrastructure sectors like highways and railways experienced declines [11]. Highway Sector - In the first three quarters of 2025, highway passenger transport decreased by 2.6% year-on-year, while freight transport increased by 4.1% [16]. - The performance of listed companies varied, with some showing stable toll revenue while others faced declines due to network adjustments and acquisitions [16][17]. Port Sector - National port cargo throughput reached 1.357 billion tons, a year-on-year increase of 4.6%, with container throughput growing by 6.3% [18]. - Key companies like China Merchants Port and Qingdao Port maintained stable performance, while Tangshan Port showed significant recovery in Q3 [18][19]. Railway Sector - Railway passenger volume grew by 6% year-on-year, while freight volume increased by 2.8% [22]. - The report anticipates continued growth in passenger transport, driven by new projects, although freight transport may face challenges due to economic conditions [22]. Shipping Sector - The shipping sector experienced a decline in container shipping rates in the first three quarters, but Q3 showed signs of recovery [25]. - The report forecasts improved performance for oil tanker companies in Q4 and 2026 due to favorable market conditions [28]. Express Delivery Sector - The express delivery industry saw a 17.2% increase in business volume in the first three quarters, although average prices fell by 7.1% [30]. - The report predicts a return to price increases in Q4, driven by anti-involution policies, with overall profitability expected to improve [31]. Logistics Supply Chain Sector - Cross-border air transport demand remained resilient, with a 6.4% year-on-year increase in cross-border e-commerce imports and exports [32]. - The report suggests that contract logistics volumes are expected to stabilize as economic conditions improve [33]. Aviation Sector - The aviation industry reported a 9.1% year-on-year increase in passenger turnover, with domestic routes showing a 4.2% increase [35]. - The report anticipates a significant reduction in losses for the industry in Q4, with a potential for profit recovery in 2026 [36]. Airport Sector - The airport sector experienced a 4.4% year-on-year increase in passenger throughput, with significant growth in international travel [38]. - The report highlights the ongoing recovery in airport operations and profitability due to increased passenger volumes and improved cost management [38].

Core Viewpoint - The aviation and airport sector experienced a rise of 1.24% on November 13, with Huaxia Airlines leading the gains, while the overall market indices also showed positive performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4029.5, up 0.73%, and the Shenzhen Component Index closed at 13476.52, up 1.78% [1]. - Key stocks in the aviation and airport sector showed varying degrees of increase, with Huaxia Airlines rising by 3.19% to a closing price of 12.30 [1]. Group 2: Stock Performance - The following stocks in the aviation and airport sector had notable performances: - Huaxia Airlines: 12.30, +3.19%, volume 287,000 [1] - Xiamen Airport: 17.22, +2.32%, volume 141,500 [1] - Shanghai Airport: 34.55, +1.74%, volume 264,200 [1] - Spring Airlines: 59.82, +1.54%, volume 55,700 [1] - China National Aviation: 8.85, +1.26%, volume 560,500 [1] - Baiyun Airport: 10.33, +1.18%, volume 250,100 [1] - China Eastern Airlines: 5.32, +1.14%, volume 1,091,200 [1] - Southern Airlines: 7.32, +1.10%, volume 456,700 [1] - HNA Holding: 1.87, +1.08%, volume 7,282,400 [1] - Juneyao Airlines: 14.75, +0.55%, volume 216,000 [1]. Group 3: Capital Flow - The aviation and airport sector saw a net outflow of 46.93 million yuan from institutional investors and a net outflow of 104 million yuan from speculative funds, while retail investors contributed a net inflow of 151 million yuan [2]. - Detailed capital flow for specific stocks indicated that: - China Eastern Airlines had a net inflow of 62.69 million yuan from institutional investors [3]. - HNA Holding experienced a net outflow of 31.68 million yuan from speculative funds [3]. - Retail investors showed a net inflow of 22.73 million yuan into Juneyao Airlines [3].

Market Overview - The aviation and airport sector increased by 0.18% on November 12, with Juneyao Airlines leading the gains [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Stock Performance - Juneyao Airlines (603885) closed at 14.67, up 2.88% with a trading volume of 330,300 shares and a turnover of 483 million yuan [1] - Shanghai Airport (600009) closed at 33.96, up 1.28% with a trading volume of 304,800 shares and a turnover of 1.041 billion yuan [1] - China Southern Airlines (600029) closed at 7.24, down 0.69% with a trading volume of 369,200 shares and a turnover of 26.9 million yuan [1][2] Capital Flow - The aviation and airport sector experienced a net outflow of 90.94 million yuan from institutional investors, while retail investors saw a net inflow of 72.62 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - HNA Holding (600221) had a net inflow of 11.8 million yuan from institutional investors, but a net outflow of 80.67 million yuan from retail investors [3] - China Eastern Airlines (600115) saw a net inflow of 9.36 million yuan from institutional investors, while retail investors had a net outflow of 22.33 million yuan [3] - Shenzhen Airport (000089) experienced a significant net outflow of 14.59 million yuan from institutional investors, but a net inflow of 12.94 million yuan from retail investors [3]

Group 1 - The core point of the news is that Juneyao Airlines experienced a stock price increase of 5.05%, reaching 14.98 CNY per share, with a trading volume of 340 million CNY and a turnover rate of 1.07%, resulting in a total market capitalization of 32.716 billion CNY [1] - Juneyao Airlines, established on March 23, 2006, and listed on May 27, 2015, is primarily engaged in air passenger and cargo transportation, with passenger revenue accounting for 94.98%, cargo revenue for 3.75%, and other revenues for 1.27% [1] Group 2 - The He Xu Zhi Yuan Fund has a significant holding in Juneyao Airlines, with its He Xu Zhi Yuan Consumer Theme Stock Initiation A Fund (007287) increasing its position by 4,000 shares to a total of 16,000 shares, representing 5.33% of the fund's net value, making it the second-largest holding [2] - The He Xu Zhi Yuan Consumer Theme Stock Initiation A Fund was established on July 3, 2019, with a current size of 1.3135 million CNY, achieving a year-to-date return of 8.28%, ranking 3841 out of 4216 in its category, and a one-year return of 4.53%, ranking 3410 out of 3937 [2] Group 3 - The fund manager of He Xu Zhi Yuan Consumer Theme Stock Initiation A Fund is Yang Zhiyong, who has been in the position for 3 years and 137 days, managing a total fund size of 12.2 million CNY, with the best fund return during his tenure being 34.38% and the worst being 2.96% [3]

Core Insights - The aviation and airport sector saw a slight increase of 0.27% on November 11, with Juneyao Airlines leading the gains [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Juneyao Airlines (603885) closed at 14.26, up 1.57% with a trading volume of 255,900 shares and a transaction value of 363 million yuan [1] - Xiamen Airport (600897) experienced a decline of 2.26%, closing at 16.85 with a trading volume of 87,700 shares and a transaction value of 148 million yuan [2] - China Eastern Airlines (600115) closed at 5.29, up 0.57% with a trading volume of 1,272,100 shares and a transaction value of 670 million yuan [2] Capital Flow - The aviation and airport sector experienced a net outflow of 132 million yuan from institutional investors, while retail investors saw a net inflow of 1.29 billion yuan [2][3] - China Eastern Airlines had a net inflow of 71.39 million yuan from institutional investors, but a net outflow of 39.65 million yuan from retail investors [3] - Xiamen Airport saw a net outflow of 12.81 million yuan from institutional investors, while retail investors contributed a net inflow of 12.27 million yuan [3]

Core Insights - The article highlights the launch of a digital check-in service by Juneyao Airlines, allowing travelers to check in via mobile devices and use electronic boarding passes for seamless travel experiences [1][3]. Group 1: Service Upgrade - Travelers can now check in and obtain electronic boarding passes through Juneyao Airlines' official app, WeChat mini-program, or SMS links, enhancing the overall travel experience [1][4]. - The service covers key travel processes, enabling passengers to complete seat selection and check-in in advance, significantly reducing waiting times at the airport [1][3]. Group 2: Environmental Impact - The introduction of electronic boarding passes aligns with Juneyao Airlines' commitment to ESG principles, promoting green travel by reducing paper usage and resource consumption [3]. - The electronic boarding pass features dynamic information updates, ensuring travelers receive real-time notifications about gate changes or flight delays, thereby improving travel reliability and passenger experience [3]. Group 3: Coverage and Accessibility - The new service is available for popular outbound routes from Shanghai to Hong Kong, Singapore, Malaysia, and Thailand, as well as inbound flights from these regions [4]. - Travelers can access more information about the online check-in service through Juneyao Airlines' official app, WeChat mini-program, or customer service hotline [4].