Core Viewpoint - The company has signed a firm order for six A350F freighters with Airbus, with deliveries expected between 2029 and 2031, and holds an option for four additional A350F freighters to be exercised by the end of 2026 [1] Group 1 - The procurement aims to optimize the fleet structure and supplement long-term capacity, establishing a collaborative capacity system for large and medium-sized freighters [1] - The A350F freighter is noted for its high fuel efficiency and strong payload and range performance, which will enhance the company's long-term operational resilience [1]

Group 1: Aircraft Acquisition and Utilization - The company has signed a confirmed order for 6 A350F freighters, with deliveries expected between 2029 and 2031, and holds an option for 4 additional units, exercisable by the end of 2026 [2][3] - The average daily utilization of all-cargo aircraft for the first half of 2025 was 13.29 hours, showing a significant improvement compared to the same period in 2024 [3] Group 2: Financial Performance - In the first three quarters of 2025, the air cargo segment's revenue increased by 11.95% year-on-year, with a gross margin rise of 2.28 percentage points, attributed to fleet expansion and optimization, as well as a decrease in aviation fuel prices [3] - The logistics solutions segment saw a revenue increase of 41.11% year-on-year, with a gross margin increase of 5.04 percentage points, driven by the expansion of cross-border e-commerce partnerships [3] Group 3: Cost Sensitivity and Market Trends - Aviation fuel costs are a significant variable cost for the company, with a potential fluctuation of approximately CNY 52 million for every CNY 100 per ton change in fuel procurement price based on 2024 usage [3] - The company's performance showed a trend of decline followed by recovery in 2023, influenced by increased bellyhold capacity from passenger aircraft and a return to normal market conditions [4] Group 4: Competitive Advantages - The company benefits from its unique position as a flag carrier, a diversified ownership structure, a large fleet, and a robust route network [4] - The company emphasizes digital empowerment to enhance service quality and operational efficiency [4]

中国青年报客户端讯（中青报·中青网记者 张真齐）12月8日，由中国国际货运航空公司（以下简称"国 货航"）执飞的CA1095航班，搭载中国政府援助斯里兰卡的85吨救援物资，从上海浦东国际机场起飞后 顺利抵达斯里兰卡科伦坡机场，完成本次国际应急运输任务。 由于物资种类多、批次密集，对运输组织和现场作业衔接提出了较高要求。国货航在接到任务通知后立 即启动应急响应机制，同步开展航线规划、航权申报、时刻编排等准备工作。为保障运输任务顺利进 行，国货航组织运行控制、航班监控、机务维修等多个部门联合值守，实时监测航班状态和天气变化， 为机组提供全程技术支持。在地面保障方面，公司与海关、货站等单位积极协调，优化物资入库、安检 和装载流程，安排专人现场监管，确保各环节衔接顺畅。全部救援物资在80分钟内完成装载，为航班准 点起飞提供了保障。 近期受热带气旋"迪特瓦"影响，斯里兰卡多地连日来遭遇暴雨大风等恶劣天气，引发洪水、山体滑坡等 灾害。此次运输的救援物资包括毯子、救生衣、床单、帐篷等多种生活用品。 来源：中国青年报客户端 ...

《中国民航报》、中国民航网 记者张丰蘩 通讯员禹武臣、王颀 报道：北京时间12月8日13时4分，自上 海浦东国际机场起飞的国货航CA1095航班，搭载着中国政府援助斯里兰卡的85吨救援物资，平稳降落 于斯里兰卡科伦坡国际机场。此次运输物资主要包括毯子、救生衣、床单、帐篷等。 为确保圆满完成本次任务，国货航第一时间启动应急响应，同步推进航线规划、航行情报准备、性能评 估、时刻编排、业载测算等关键环节，并在短时间内完成全部申报与沟通工作。国货航运行控制、航班 监控、机务维修、运输服务等席位联合值守，对航班运行状态、天气变化及飞机技术状况实时监测，并 通过多种系统为机组提供技术支持，确保航班在全程受控条件下运行。此外，国货航还提前与海关、货 站等相关单位沟通协调，在物资入库、安检、组板等环节安排专人盯控，优化现场流程，提高作业衔接 效率，实现全部救援物资在80分钟内完成装载，为航班按计划起飞提供了有力支撑。 据斯里兰卡灾害管理中心通报，受热带气旋"迪特瓦"引发的极端天气影响，该国近期灾情严重，已造成 600余人死亡、超过200万人受灾，全国超4000栋房屋全毁、超6万栋房屋部分受损。（编辑：李季威 校 对：张彤 审 ...

相关企业：南方航空物流股份有限公司、顺丰航空有限公司、杭州圆通货运航空有限公司、三亚佳翔航 空货运服务有限公司、中都友邦国际物流（北京）有限公司、中交航空港有限公司、北京富来特国际货 运代理有限责任公司、南通机场集团有限公司、金鹏航空有限责任公司、上海腾达国际物流股份有限公 司、上海傲湃国际货物运输代理有限公司、西部机场集团航空地勤（西安）有限公司 内容概要：航空货运服务是以航空器为载体、专注于机场至机场空中运输环节的现代物流方式，凭借速 度快、安全性高、空间跨度大等核心优势，成为高附加值、强时效性国际贸易货物运输的关键支撑。近 年来，国家持续强化政策引导，推动行业从"重客轻货"向"客货并重"转型，出台《"十四五"航空物流发 展专项规划》等系列文件，从枢纽建设、运力提升、数据互通等多维度构建支撑体系，为行业规模化、 专业化和国际化发展奠定制度基础。近年来，我国航空货运规模持续增长，2024年货邮运输量达898.2 万吨，其中国际航线表现尤为亮眼，增速接近30%，2025年1-10月继续保持两位数增长，凸显其在国际 供应链中的重要地位。然而，行业仍面临全货机运力供给不足、国际航线网络恢复缓慢等结构性挑战。 供需 ...

证券日报网讯 12月3日，国货航在互动平台回答投资者提问时表示，公司已经在2025年度三季度报告中 披露了截至2025年9月30日的股东数量，为134973户。 （文章来源：证券日报） ...

Core Viewpoint - The article highlights the successful listing of Guohang (国货航) on the Shenzhen Stock Exchange, emphasizing its role in enhancing the quality of listed companies and supporting high-quality economic development through capital market engagement [1][2]. Group 1: Company Development and Market Position - Guohang officially listed on the Shenzhen Stock Exchange on December 30, 2024, marking a significant milestone that opens up vast opportunities in the capital market [2]. - The company has established a stable and diverse shareholder structure, enhancing strategic collaboration, particularly with partners like Cainiao Network in cross-border e-commerce logistics [2]. - Guohang's operational capacity has been bolstered by the introduction of four B777 freighters and the conversion of five A330 passenger aircraft to cargo, increasing its fleet to 25 freighters by June 2025 [2]. Group 2: Financial Performance and Shareholder Engagement - In 2025 Q3, Guohang reported revenues of 5.701 billion yuan, a year-on-year increase of 8.39%, and a net profit of 596 million yuan, up 35.91% [7]. - The company has implemented a stable dividend policy to enhance investor satisfaction and has engaged in various investor relations activities to maintain diverse interactions with the capital market [3]. Group 3: Technological Innovation and Digital Transformation - Guohang has significantly increased its R&D investment to 24.5971 million yuan in 2024, a sevenfold increase from 2023, with a focus on technological innovation as a core competitive advantage [4]. - The company has launched several digital initiatives, including a fully online sales bidding system and a logistics data governance project, enhancing operational efficiency and data management [5][6]. - Guohang is leading an AI-based security project to improve the detection rates of dangerous goods, which has received recognition from aviation authorities [5][6]. Group 4: Industry Trends and Future Outlook - The aviation logistics industry is experiencing a period of high demand and favorable policies, with significant growth in cross-border e-commerce and high-end manufacturing logistics [7]. - Guohang plans to expand its fleet and continue digital upgrades during the 14th Five-Year Plan period, aiming to strengthen its operational foundation and strategic positioning [8].

Core Viewpoint - The article emphasizes the importance of listed companies in driving high-quality economic development, highlighting the role of Guohang as a benchmark in the air logistics industry since its listing on the Shenzhen Stock Exchange in December 2024, leveraging capital markets for operational upgrades and digital transformation [1][2]. Group 1: Company Development and Market Position - Guohang officially listed on the Shenzhen Stock Exchange on December 30, 2024, marking a significant milestone that opens up extensive opportunities in the capital market [2]. - The company has established a diversified and stable shareholder structure, enhancing strategic collaboration with partners like Cainiao Network and others to optimize domestic market layout and expand global routes [2][3]. - Guohang's operational capacity has been bolstered by capital market support, with the introduction of four B777 freighters and the conversion of five A330 passenger planes to freighters by mid-2025, resulting in a fleet of 25 freighters [2]. Group 2: Financial Performance and Shareholder Engagement - In 2025 Q3, Guohang reported revenue of 5.701 billion yuan, an increase of 8.39% year-on-year, and a net profit of 596 million yuan, up 35.91% [6]. - The company has maintained strong investor relations through various engagement methods, including performance briefings and investor surveys, and has completed its 2024 dividend distribution [3]. Group 3: Technological Innovation and Digital Transformation - Guohang has significantly increased its R&D investment, reaching 24.5971 million yuan in 2024, a sevenfold increase from 2023, with a focus on technological innovation as a core competitive advantage [4]. - The company has implemented several innovative projects, including a fully online sales bidding system that generated 1.599 billion yuan in revenue and saved 5,000 man-hours [4][5]. - Guohang is advancing its digital transformation, launching a digital platform for cargo stations and enhancing data exchange capabilities to improve operational efficiency [5]. Group 4: Industry Trends and Future Outlook - The air cargo industry is experiencing a period of high demand and favorable policies, with the global market expanding and a shift towards professional, efficient, and green logistics [6]. - Guohang plans to further expand its fleet and deepen digital upgrades during the 14th Five-Year Plan period, aiming to enhance operational fundamentals and strategic positioning [7].

Core Viewpoint - The launch of the Chengdu-Glasgow all-cargo flight route marks a significant step for the company in expanding its logistics capabilities and enhancing its presence in the European cargo market [1][3]. Group 1: Route and Logistics Expansion - The Chengdu-Glasgow all-cargo route is an important logistics channel connecting Southwest China with Northern England, effectively broadening the air cargo transport options between China and the UK [1]. - The route will operate four flights per week using the Airbus A330 freighter, providing direct access to Scotland and the Northwest of England, which helps to alleviate cargo volume congestion in central England [1]. - This new route facilitates the export of local Scottish products such as salmon and whisky to China, improving logistics efficiency and reducing overall transportation costs [1]. Group 2: Strategic Network Development - With the opening of the Glasgow route, the company has established a multi-directional network connecting Europe, North America, and the Middle East from its Chengdu hub [3]. - The current all-cargo routes from Chengdu cover major global cargo hubs including Frankfurt, Liege, Paris, Amsterdam, Chicago, and Dubai, enhancing the strategic function of Chengdu's air transport network [3]. - The company plans to continue optimizing its international route layout and strengthen cargo transport organization and service capabilities, contributing to the stability and security of supply chains [3].

Core Insights - On November 17, Guohang Airlines experienced no change in stock price, with a trading volume of 86.98 million yuan [1] - The company reported a financing buy-in of 9.07 million yuan and a financing repayment of 10.27 million yuan, resulting in a net financing outflow of 1.20 million yuan [1][2] - As of November 17, the total margin balance for Guohang Airlines was 257 million yuan [1] Financing and Margin Data - On the same day, Guohang Airlines had a financing balance of 256 million yuan, accounting for 4.53% of its market capitalization [2] - The company repaid 4,400 shares in short selling and sold 5,400 shares, with a selling amount of 35,500 yuan based on the closing price [2] - The remaining short selling volume was 109,600 shares, with a short selling balance of 721,200 yuan [2] Company Overview - Guohang Airlines, established on November 14, 2003, is located in Shunyi District, Beijing, and is set to be listed on December 30, 2024 [2] - The company specializes in air cargo services, air cargo station services, and comprehensive logistics solutions, with revenue composition as follows: air cargo 71.01%, comprehensive logistics solutions 22.65%, air cargo station services 5.95%, and others 0.39% [2] - As of September 30, the number of shareholders was 135,000, a decrease of 17.77% from the previous period, while the average circulating shares per person increased by 21.60% to 6,362 shares [2] Financial Performance - For the period from January to September 2025, Guohang Airlines achieved a revenue of 16.64 billion yuan, representing a year-on-year growth of 16.92% [2] - The net profit attributable to the parent company was 1.84 billion yuan, reflecting a significant year-on-year increase of 66.21% [2] Dividend Information - Since its A-share listing, Guohang Airlines has distributed a total of 794 million yuan in dividends [3] Institutional Holdings - As of September 30, 2025, the largest circulating shareholder was Huatai-PB CSI 300 ETF, holding 14.44 million shares, an increase of 126,700 shares from the previous period [3] - The second-largest shareholder was E Fund CSI 300 ETF, holding 10.52 million shares, a decrease of 362,000 shares [3] - Other notable shareholders include Huaxia CSI 300 ETF and 嘉实沪深300ETF, with respective holdings of 7.85 million shares and 6.77 million shares, both showing a decrease from the previous period [3]