专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 董秘作为连接投资者与上市公司的"桥梁"，在上市公司资本运作中发挥着关键作用。新浪财经《2024年度A股董秘数据报告》显示，2024年A股上市公司董 秘薪酬合计达40.86亿元，平均年薪75.43万元。 分行业来看，A股和新三板航空机场行业（申万二级）进入统计的上市公司共12家，董秘薪酬合计金额922.44万元，平均年薪76.87万元。 行业内，吉祥航空因公司法律意见书更正事项，未依法履行职责，在2024年9月收到监管工作函。 责任编辑：公司观察 然而，公司董秘徐骏民却仍涨薪近17万，以112.85万元的年薪，超越春秋航空，位居业内之首。 | 证券简称 | 行业(申万二级) | 董秘 | 2024薪酬 | 薪酬变化 | 増減幅 | 学历 | | --- | --- | --- | --- | --- | --- | --- | | 吉祥航空 | 航空机场 | 徐骏民 | 112. 85 | 16. 98 | 17.71% | 硕士 | | 春秋航空 | 航空机场 | 陈可 | 112. 16 | 10. 71 | 10. 56% ...

截至2025年8月6日收盘，吉祥航空股价报12.43元，较前一交易日下跌0.56%。当日成交量为152806手， 成交金额达1.90亿元。 来源：金融界 吉祥航空属于航空运输行业，主要从事国内、国际及港澳台航空客货运输业务。公司以上海为主运营基 地，拥有较为完善的航线网络布局。 风险提示：以上内容仅供参考，不构成投资建议。市场有风险，投资需谨慎。 最新数据显示，吉祥航空7月共执行航班约10133班，承运旅客近182万人次。其中国际航班约1873班， 较2024年同期增长超过9%。公司持续加大国际航线运力投入，为暑运旅客出行提供保障。 8月6日主力资金净流出2692.59万元，近五日累计净流出6578.89万元。 ...

Summary of Key Points from Conference Call Records Industry or Company Involved - **Industries**: Rental, Express Delivery, Aviation, Chemical, Cobalt, Coal - **Companies**: China Shipbuilding Leasing, Bank of China Aviation Leasing, Jitu, Shentong, Zhongtong, Yunda, SF Express, Huaxia Airlines, China Shenhua, Huayi Chemical, Wanhua, Hualu, Yangnong, Satellite Chemical, New Chemical, Huayou Cobalt, Likin, Shengtun, Jiayou International Core Points and Arguments 1. **U.S. Labor Market Impact**: The U.S. labor market data has raised expectations for a 25 basis point rate cut in September, increasing the likelihood to 75%, which is favorable for leasing companies like China Shipbuilding Leasing and Bank of China Aviation Leasing [1][2] 2. **Express Delivery Industry**: The political bureau meeting focused on capacity governance rather than production governance, which is expected to accelerate the anti-involution in the express delivery industry. Price increases are anticipated in regions like Yiwu and Guangdong, with recommended companies including Jitu, Shentong, Zhongtong, Yunda, SF Express [1][4] 3. **Aviation Industry Challenges**: Despite efforts to combat market involution, the aviation industry faces skepticism regarding joint price increases due to high transparency of data. Recommended stocks include Huaxia Airlines and major A-share airlines [1][5] 4. **Chemical Industry Trends**: The chemical sector is experiencing a bottoming out, with PPI showing continuous negative growth. However, prices for certain chemicals like epoxy chloropropane and lithium carbonate are rising due to downstream replenishment [1][8][10] 5. **Cobalt Market Tightness**: The cobalt market is experiencing supply tightness, with prices expected to average 250,000 yuan/ton this year. Companies like Huayou Cobalt and Likin are recommended for investment [1][19][20] 6. **Coal Industry Developments**: China Shenhua's acquisition of National Energy Group assets is expected to enhance its strength and positively impact the coal sector. Current coal prices remain strong despite recent declines in stock performance [1][22][23] Other Important but Possibly Overlooked Content 1. **Chemical Industry Profitability**: The chemical industry saw a revenue growth of 1.4% in June 2025, but profit growth was negative at -9%, indicating a widening profit decline despite revenue increases [1][12] 2. **Market Sentiment in Chemical Sector**: The increase in Penghua Chemical ETF shares by 1.1 billion yuan indicates a growing market interest in the chemical sector, despite it being at a relative bottom compared to other cyclical sectors [1][13] 3. **Potential for Price Stabilization**: The possibility of production limits in the chemical sector could help stabilize prices, as seen in past successful interventions [1][16] 4. **Investment Opportunities in New Materials**: Companies like Dongcai Technology and Xinzhou Bang are highlighted as key players in the new materials sector, particularly in the high-performance resin supply chain [1][17] 5. **Gold and Silver Market Dynamics**: Recent trends show that while industrial metals have risen, precious metals like gold have not seen similar increases, suggesting potential investment opportunities in gold stocks [1][18]

Investment Rating - The report provides a "Recommended" investment rating for several companies in the transportation sector, including China National Aviation (601111.SH), Southern Airlines (600029.SH), and others [11][12][13]. Core Insights - The transportation industry is experiencing a mixed recovery, with air travel demand expected to increase due to the resumption of international flights and domestic consumption recovery driven by policy support [9][10][13]. - The express delivery sector is showing growth, with a 9% increase in revenue and a 15.8% rise in business volume year-on-year as of June 2025 [77]. - The cross-border logistics segment is anticipated to benefit from the growth of cross-border e-commerce, with domestic brands expanding their international presence [9][10]. Summary by Sections 1. Industry Performance Overview - The transportation sector's cumulative performance from July 28 to August 2, 2025, showed a decline of 3.22%, ranking it 27th among 31 SW primary industries [17][19]. 2. Industry Fundamentals Tracking (a) Aviation and Airports - Domestic and international capacity recovery rates for major airlines in June 2025 reached 150.62% and 93.36% respectively compared to 2019 [26][31]. - Major airports also reported recovery rates for domestic passenger throughput, with Baiyun Airport at 120.08% and Shanghai Airport at 119.80% compared to 2019 [31]. (b) Shipping and Ports - The SCFI (Shanghai Containerized Freight Index) reported a decline of 53.47% year-on-year as of August 1, 2025, indicating challenges in the shipping market [36]. - The CCFI (China Containerized Freight Index) also showed significant year-on-year declines across various routes, with the East America route down 40.97% [36]. (c) Road and Rail - In June 2025, rail passenger volume increased by 3.61% year-on-year, while rail freight volume rose by 2.24% [61]. - Road freight volume reached 36.51 million tons, up 2.87% year-on-year, with road passenger volume declining by 3.72% [68]. (d) Express Logistics - The express delivery industry achieved a revenue of 126.32 billion yuan in June 2025, marking a 9% increase year-on-year, with a business volume of 1.687 billion pieces [77]. 3. Key News and Announcements - The report highlights significant developments in the aviation sector, including the launch of a long-distance drone logistics route in the Guangdong-Hong Kong-Macao Greater Bay Area [84]. - Southern Airlines signed a memorandum of cooperation with Uzbekistan Airways to enhance air connectivity and service offerings [86]. - Shenzhen plans to establish over 1,200 low-altitude takeoff and landing points by the end of 2026 to support low-altitude logistics and transportation [87].

证券代码：603885 证券简称：吉祥航空 公告编号：2025-053 上海吉祥航空股份有限公司 关于以集中竞价交易方式回购公司股份的回购进展公告 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： 回购方案首次披露日 2025/2/6 回购方案实施期限 2025 年 1 月 27 日~2026 年 1 月 26 日 预计回购金额 25,000万元~50,000万元 √减少注册资本 √用于员工持股计划或股权激励 回购用途 □用于转换公司可转债 □为维护公司价值及股东权益 累计已回购股数 30,767,686股 累计已回购股数占总股本比例 1.41% 累计已回购金额 391,261,887.53元 实际回购价格区间 11.93元/股~13.46元/股 一、 回购股份的基本情况 董事会第十五次会议审议通过了《关于以集中竞价交易方式回购公司股份方案的 议案》，同意公司以自有资金及自筹资金（含银行回购专项贷款）通过集中竞价交 易方式回购公司股份，并将回购股份全部用于员工持股计划或股权激励。回购资 金总额不低于人民币 25, ...

证券日报网讯 8月1日晚间，吉祥航空发布公告称，截至2025年7月31日，公司通过集中竞价交易方式累 计回购股份数量为30，767，686股，占公司目前总股本（2，184，005，268股）的比例为1.41%。 （编辑 姚尧） ...

证券代码：603885 证券简称：吉祥航空 公告编号：2025-053 上海吉祥航空股份有限公司 关于以集中竞价交易方式回购公司股份的回购进展公告 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： | 回购方案首次披露日 | 2025/2/6 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 月 27 1 | 1 | 日~2026 | 年 | 月 | 26 | 日 | | 预计回购金额 | 25,000万元~50,000万元 | | | | | | | | 回购用途 | √减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | | □为维护公司价值及股东权益 | | | | | | | | 累计已回购股数 | 30,767,686股 | | | | | | | | 累计已回购股数占总股本比例 | 1.41% | | | | | | | | 累计已回购金额 ...

Group 1 - As of July 31, 2025, the stock price of Juneyao Airlines is 12.24 yuan, down by 0.39 yuan, representing a decline of 3.09% from the previous trading day [1] - The trading volume on that day reached 410 million yuan, with a turnover rate of 1.52% [1] - Juneyao Airlines operates primarily from Shanghai and focuses on domestic and international passenger and cargo transportation [1] Group 2 - Research reports indicate that short-term demand fluctuations do not affect the long-term logic of the aviation industry, with market-driven ticket pricing and supply-demand improvements expected to drive industry profitability upward [1] - The growth rate of aviation supply is slowing, suggesting that the supply-demand relationship in the industry may further optimize over the next two years [1]

Investment Rating - The report provides an "Increase" rating for the aviation industry, indicating a potential growth of over 15% relative to the CSI 300 index [27]. Core Insights - The aviation industry is experiencing a steady improvement in supply and demand, leading to significant reductions in losses. The summer travel season has shown unexpected weakness in business travel, but the long-term logic of the aviation sector remains intact, with expectations of benefiting from a "reverse internal competition" strategy [2][3]. Summary by Sections Supply and Demand Dynamics - In Q2 2025, domestic supply maintained low growth with 107 new aircraft introduced, resulting in a net increase of only 52 aircraft. The industry’s Available Seat Kilometers (ASK) is estimated to have grown by 6.7% year-on-year [3]. - Domestic demand showed a steady recovery, with domestic passenger traffic increasing by 5.5% in Q2, while the average domestic ticket price (including fuel) remained stable compared to Q1 [3][9]. Financial Performance - The industry significantly reduced losses in Q2, with passenger load factors improving by 1.9 percentage points year-on-year, reaching a historical high for the same period. The average domestic fuel price decreased by 17% year-on-year, contributing to profitability [3][9]. - The report estimates that the industry may achieve profitability in May, with major airlines expected to report substantial reductions in losses for Q2 [3]. Summer Travel Season Insights - The summer travel season has seen a 3% year-on-year increase in passenger traffic, although ticket prices have decreased by 4-5%, which is lower than previous expectations. The supply growth remains limited due to a slight increase in fleet size and strict flight scheduling by the Civil Aviation Administration [3]. - There is a notable increase in leisure travel, particularly among families and young travelers, while business travel has unexpectedly weakened [3]. Long-term Outlook - The report emphasizes that the aviation industry is entering a low-growth supply era, but the medium-term growth trend remains stable. The anticipated policies aimed at reducing excessive low pricing are expected to support profitability recovery [3]. - The report recommends a contrarian investment approach in the aviation sector, highlighting the potential for significant earnings recovery in 2025, with specific recommendations to increase holdings in China National Aviation, Spring Airlines, and others [3][22].

Group 1 - The core theme of the event is "Aviation and Tourism Integration: Building Dreams in Hotan," aimed at attracting more tourists to the region and enhancing cultural exchanges [1][2] - Hotan region has seen significant growth in tourism, with over 15.3 million visitors and a revenue of 10.2 billion yuan in the first half of the year, both increasing by over 40% [1] - The local aviation market is characterized by an optimized demand structure, strengthened hub functions, accelerated development potential, and a booming low-altitude economy [1] Group 2 - Several cooperation agreements were signed between Hotan region and various airlines, including Spring Airlines and Xiamen Airlines, to enhance connectivity [2] - The establishment of the "Hotan Aviation and Tourism Alliance" signifies a new phase in the integration of cultural tourism and aviation development [2] - Chengdu Airlines has launched five new routes from Hotan, achieving an 80% seat occupancy rate, indicating confidence in the Hotan aviation market [2]