2025年9月，公司国内客运运力投入（按可用座位公里计）较上月环比下降15.96%，国内旅客周转量 （按收入客公里计）环比下降17.52%，国内航线客座率环比下降1.67%。国际客运运力投入（按可用座 位公里计）较上月环比上升0.68%，国际旅客周转量（按收入客公里计）环比下降5.05%，国际航线客 座率环比下降4.80%。 本月公司及九元航空引进飞机0架，退役飞机0架。截至2025年9月30日，公司运营93架A320系列飞机 （其中27架为A321机型，22架为A320neo机型，14架为A321neo机型），10架波音787系列飞机。公司 子公司九元航空实际运营27架飞机，均为波音737系列飞机。 格隆汇10月15日丨吉祥航空(603885.SH)公布，2025年9月，公司客运运力投入（按可用座位公里计）同 比上升1.91%，其中国内、国际和地区航线客运运力投入同比变动分别为-5.57%、25.43%和-31.79%；旅 客周转量（按收入客公里计）同比上升4.85%，其中国内、国际和地区航线旅客周转量同比变动分别 为-3.84%、37.10%和-24.94%；客座率为86.07%，同比上升2.42%，其中 ...

证券代码：603885 证券简称：吉祥航空 公告编号：临 2025-072 上海吉祥航空股份有限公司 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。 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 9 月份合并主要运营 数据： | 国际 | 13,119.80 | 42.10% | 116,807.97 | 61.88% | | --- | --- | --- | --- | --- | | 地区 | 235.77 | -23.22% | 2,738.12 | -23.78% | | 收入客公里 | | | | | | （RPK）（万人公 | 390,924.11 | 4.85% | 3,716,463.27 | 3.10% | | 里） | | | | | | 国内 | 277,591.78 | -3.84% | 2,683,051.41 | -7.60% | | 国际 | 110,824.23 | 37.10 ...

Core Viewpoint - In September, the company reported a year-on-year increase in passenger capacity and passenger turnover, while domestic routes showed a decline in capacity and turnover compared to the previous month [1] Group 1: Passenger Capacity - In September, the company's passenger capacity (measured in available seat kilometers) increased by 1.91% year-on-year, with domestic, international, and regional routes showing changes of -5.57%, 25.43%, and -31.79% respectively [1] - The domestic passenger capacity decreased by 15.96% month-on-month [1] - The international passenger capacity increased by 0.68% month-on-month [1] Group 2: Passenger Turnover - The company's passenger turnover (measured in revenue passenger kilometers) increased by 4.85% year-on-year, with domestic, international, and regional routes showing changes of -3.84%, 37.10%, and -24.94% respectively [1] - The domestic passenger turnover decreased by 17.52% month-on-month [1] - The international passenger turnover decreased by 5.05% month-on-month [1] Group 3: Load Factor - The load factor was 86.07%, representing a year-on-year increase of 2.42%, with domestic, international, and regional routes showing changes of 1.61%, 6.77%, and 7.90% respectively [1] - The domestic load factor decreased by 1.67% month-on-month [1] - The international load factor decreased by 4.80% month-on-month [1]

Core Insights - The company reported an increase in passenger capacity input by 1.91% year-on-year in September [1] - The passenger turnover increased by 4.85% year-on-year, indicating a growth in demand [1] - The seat occupancy rate reached 86.07%, up by 2.42% year-on-year, reflecting improved operational efficiency [1]

Core Insights - The company announced a 1.91% year-on-year increase in passenger capacity input for September 2025, measured in available seat kilometers [1] Capacity Input - Domestic passenger capacity input decreased by 5.57% year-on-year [1] - International passenger capacity input increased by 25.43% year-on-year [1] - Regional passenger capacity input decreased by 31.79% year-on-year [1] Passenger Turnover - The company's passenger turnover, measured in revenue passenger kilometers, increased by 4.85% year-on-year [1] - Domestic passenger turnover decreased by 3.84% year-on-year [1] - International passenger turnover increased by 37.10% year-on-year [1] - Regional passenger turnover decreased by 24.94% year-on-year [1] Load Factor - The overall load factor reached 86.07%, reflecting a year-on-year increase of 2.42% [1] - Domestic load factor increased by 1.61% year-on-year [1] - International load factor increased by 6.77% year-on-year [1] - Regional load factor increased by 7.90% year-on-year [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]

Group 1 - The core point of the news is that Juneyao Airlines experienced a stock price increase of 5.02%, reaching 13.82 CNY per share, with a trading volume of 217 million CNY and a turnover rate of 0.73%, resulting in a total market capitalization of 30.183 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 - From the perspective of major fund holdings, HSBC Jintrust Fund has a significant position in Juneyao Airlines, with its HSBC Jintrust Small and Medium Cap Stock Fund holding 3.9311 million shares, representing 5.79% of the fund's net value, making it the ninth-largest holding [2] - The HSBC Jintrust Small and Medium Cap Stock Fund, established on December 11, 2009, has a current scale of 914 million CNY and has achieved a year-to-date return of 42.79%, ranking 669 out of 4220 in its category [2] - The fund manager, Zheng Xiaobing, has been in charge for 2 years and 101 days, with the fund's total asset size at 2.036 billion CNY, achieving a best return of 70.14% and a worst return of 62.4% during his tenure [2]

Core Viewpoint - 吉祥航空's stock price has shown fluctuations in recent trading sessions, with a slight increase on October 15, 2023, while the overall performance this year has seen a minor decline [1][2]. Financial Performance - As of June 30, 2025, 吉祥航空 reported a revenue of 11.067 billion yuan, reflecting a year-on-year growth of 1.02%, and a net profit attributable to shareholders of 505 million yuan, up by 3.29% [2]. - The company has cumulatively distributed 2.35 billion yuan in dividends since its A-share listing, with 565 million yuan distributed over the past three years [3]. Stock Market Activity - On October 15, 2023, 吉祥航空's stock price reached 13.43 yuan per share, with a trading volume of 85.235 million yuan and a turnover rate of 0.29%, resulting in a total market capitalization of 29.331 billion yuan [1]. - The stock has experienced a year-to-date decline of 1.26%, a decrease of 1.25% over the last five trading days, a rise of 3.07% over the last 20 days, and an increase of 7.18% over the last 60 days [2]. Shareholder Information - As of June 30, 2025, 吉祥航空 had 23,700 shareholders, a decrease of 2.13% from the previous period, with an average of 92,640 circulating shares per shareholder, which is an increase of 2.17% [2]. - The top ten circulating shareholders include various funds, with notable changes in holdings, such as 兴全商业模式混合(LOF)A reducing its stake by 1.4192 million shares [3].

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]