Market Overview - As of August 21, the Shanghai Composite Index rose by 0.13% to close at 3771.0989 points, while the Shenzhen Component Index fell by 0.06% to close at 11919.763 points [1] Top Gainers in Hunan Stocks - Zhejiang Construction Investment opened at 9.600 and closed at 10.120, gaining 5.97% with a highest price of 10.180 and a lowest price of 9.600, trading volume was 794,215 lots [2] - ST Zhangjiajie opened at 7.300 and closed at 7.560, increasing by 3.99% with a highest price of 7.630 and a lowest price of 7.210, trading volume was 182,517 lots [2] - Jiu Gui Jiu opened at 65.000 and closed at 65.930, up by 3.88% with a highest price of 69.500 and a lowest price of 65.000, trading volume was 571,487 lots [2] - Hunan Gold opened at 19.700 and closed at 20.100, rising by 2.19% with a highest price of 20.730 and a lowest price of 19.690, trading volume was 699,102 lots [2] - Qidi Pharmaceutical opened at 12.530 and closed at 12.750, increasing by 2.00% with a highest price of 12.850 and a lowest price of 12.390, trading volume was 153,383 lots [2] Top Losers in Hunan Stocks - Hengli Tui opened at 0.160 and closed at 0.150, decreasing by 11.76% with a highest price of 0.170 and a lowest price of 0.150, trading volume was 611,606 lots [3] - Changlan Technology opened at 19.180 and closed at 18.550, down by 3.18% with a highest price of 19.200 and a lowest price of 18.460, trading volume was 131,350 lots [3] - Kaimete Gas opened at 15.970 and closed at 15.530, falling by 2.82% with a highest price of 16.220 and a lowest price of 15.400, trading volume was 949,923 lots [3] - Shanhe Intelligent opened at 17.350 and closed at 16.710, decreasing by 2.22% with a highest price of 17.500 and a lowest price of 16.640, trading volume was 1,267,365 lots [3] - Yanjin Puzhi opened at 74.960 and closed at 72.330, down by 2.20% with a highest price of 76.220 and a lowest price of 72.000, trading volume was 49,761 lots [3]

8月20日，山河智能连续4个交易日下跌，区间累计跌幅-14.59%。山河智能装备股份有限公司由中南大学教授何清华领衔创办于1999年,是世界500强企业 ——广州工业投资控股集团有限公司旗下子公司,已发展为以上市公司——山河智能装备股份有限公司为核心,以长沙为总部,在国内外具有一定影响力的国际 化企业集团。 财报显示，南方基金旗下南方中证1000ETF为山河智能前十大股东，今年一季度减持。今年以来收益率22.85%，同类排名735(总3420)。 简历显示，崔蕾女士:中国国籍,康奈尔大学金融工程硕士,金融风险管理师(FRM),特许金融分析师(CFA),具有基金从业资格。2015年2月加入南方基金,历任数 量化投资部助理研究员、研究员,指数投资部研究员;2019年7月12日至2021年4月23日,任南方小康ETF、南方小康ETF联接基金经理;2019年6月28日至2022年2 月18日,任大数据300基金经理;2020年3月26日至2023年3月27日,任南方粤港澳大湾区联接基金经理;2022年12月1日至2023年12月29日任南方上证科创板50成 份增强策略ETF基金的基金经理。2018年11月8日至202 ...

Market Performance - The Shanghai Composite Index rose by 1.04%, closing at 3766.2104 points [1] - The Shenzhen Component Index increased by 0.89%, closing at 11926.741 points [1] Top Gainers in Hunan Stocks - JiuGuiJiu opened at 57.010 and closed at 63.470, gaining 10.00% with a trading volume of 337,993 lots [2] - Hunan Gold opened at 18.880 and closed at 19.670, up 3.91% with a trading volume of 804,976 lots [2] - Yueyang Xingchang opened at 16.660 and closed at 17.330, increasing by 3.90% with a trading volume of 140,340 lots [2] - Yanjinpuzi opened at 71.300 and closed at 73.960, rising by 3.83% with a trading volume of 49,479 lots [2] - Huatian Hotel opened at 3.480 and closed at 3.560, up 2.89% with a trading volume of 482,926 lots [2] Top Losers in Hunan Stocks - Hengli Tui opened at 0.160 and closed at 0.150, down 11.76% with a trading volume of 611,606 lots [3] - Kaimeteqi opened at 16.920 and closed at 15.980, decreasing by 10.02% with a trading volume of 1,491,015 lots [3] - Changlan Technology opened at 19.600 and closed at 19.160, down 4.15% with a trading volume of 186,352 lots [3] - Shanhe Intelligent opened at 17.200 and closed at 17.090, decreasing by 2.90% with a trading volume of 1,915,990 lots [3] - *ST Gaosi opened at 8.970 and closed at 8.690, down 2.03% with a trading volume of 90,469 lots [3]

Core Viewpoint - The article discusses the implications of the ongoing Russo-Ukrainian War on aircraft leasing companies, particularly focusing on the seizure of leased aircraft by Russia and the subsequent insurance claims made by affected companies [1][5][6]. Group 1: Aircraft Leasing Context - Aircraft leasing is a common practice in the aviation industry, allowing airlines to operate without the high upfront costs of purchasing aircraft [3][4]. - As of the onset of the Russo-Ukrainian War, Russia had a fleet of 980 passenger aircraft, with 777 being leased, and 515 of those from foreign leasing companies [4][5]. Group 2: Impact of the Russo-Ukrainian War - Following the war's outbreak, Russia nationalized all foreign-leased aircraft as a countermeasure against Western sanctions, leading to significant losses for Western leasing companies, particularly AerCap [5][6]. - The article notes that some aircraft were seized and held in foreign jurisdictions, complicating the return process for leasing companies [5][6]. Group 3: Insurance Claims and Compensation - Leasing companies have pursued insurance claims for the seized aircraft, with some successfully receiving compensation, such as the $22.96 million received by AVMAX, a subsidiary of Shanhe Intelligent [1][8]. - The article highlights that the resolution of these claims often involves lengthy legal processes, with some companies opting for settlements with insurance providers [8][12]. Group 4: Future of Seized Aircraft - The article suggests that the resolution of remaining seized aircraft issues will be a prolonged process, potentially requiring the normalization of relations between Russia and Western countries post-war [14][15]. - It also mentions that some aircraft have been returned or compensated through insurance settlements, allowing for legal ownership transfer to Russian airlines [12][14]. Group 5: Market Dynamics - Despite the challenges posed by the war, the aircraft leasing market has seen increased rental rates due to supply chain constraints and a recovering aviation industry, benefiting leasing companies financially [16].

Group 1 - The stock price of Shanhe Intelligent closed at 17.60 yuan on August 19, 2025, down 1.20 yuan or 6.38% from the previous trading day [1] - The opening price was 18.66 yuan, with a highest point of 18.94 yuan and a lowest point of 17.58 yuan, with a trading volume of 2.2955 million hands and a transaction amount of 4.155 billion yuan [1] - On the morning of August 19, the stock experienced a rapid rebound around 9:35 AM, increasing over 2% within 5 minutes, reaching a peak of 18.80 yuan during that period, with a transaction amount of 434 million yuan [1] Group 2 - Shanhe Intelligent's main business includes the research, manufacturing, and sales of construction machinery equipment, such as excavators and pile machinery, serving multiple sectors including infrastructure construction and mining [1] - On August 19, the net outflow of main funds was 495 million yuan, accounting for 2.62% of the circulating market value, with a cumulative net outflow of 1.727 billion yuan over the past five trading days, representing 9.15% of the circulating market value [1]

Market Overview - The engineering machinery sector experienced a decline of 0.57% on August 19, with Shanhe Intelligent leading the drop [1] - The Shanghai Composite Index closed at 3727.29, down 0.02%, while the Shenzhen Component Index closed at 11821.63, down 0.12% [1] Stock Performance - Notable gainers in the engineering machinery sector included: - Wantong Hydraulic (Code: 630839) with a closing price of 39.80, up 16.41% [1] - Weibao Hydraulic (Code: 871245) with a closing price of 35.51, up 7.28% [1] - Nuo Li Co., Ltd. (Code: 603611) with a closing price of 28.94, up 4.86% [1] - Conversely, Shanhe Intelligent (Code: 002097) saw a significant decline of 6.38%, closing at 17.60 [2] - Other notable decliners included: - Southern Road Machinery (Code: 603280) down 5.98% [2] - Shaoyang Hydraulic (Code: 301079) down 4.90% [2] Capital Flow - The engineering machinery sector saw a net outflow of 930 million yuan from institutional investors, while retail investors contributed a net inflow of 1.169 billion yuan [2] - The capital flow for specific stocks indicated: - Anhui Heli (Code: 600761) had a net inflow of 37.1 million yuan from institutional investors [3] - Nuo Li Co., Ltd. (Code: 603611) experienced a net inflow of 26.4 million yuan from institutional investors [3] - Conversely, significant outflows were noted for several stocks, including Shaoyang Hydraulic with a net outflow of 32.2 million yuan from institutional investors [3]

8月11日晚，上市公司山河智能发表公告称，其全资子公司AVMAX租赁给俄罗斯航司并被扣押的三架飞机（dash-8）已获得投保的保险公司理赔，共获得 2296万美元的理赔款。 这次成功理赔让舆论场重新关注起了由于俄乌冲突爆发而被俄罗斯扣押的租赁飞机，有些人在追问被扣押飞机什么时候能归还，而另一部分人则把话题引 向了中俄关系与对俄罗斯的攻击。 在我看来，前者是有着朴素情感的群众，担心我们国家受损失。而后者嘛，怎么在与俄罗斯有关时就开始突击爱国了呢？真令人百思不得其解。 当然，自俄乌冲突爆发后俄罗斯将航司租赁的飞机全都国有化而拒不归还是客观事实，而几大航空租赁公司在过去三年半中想方设法解决被扣押飞机的问 题也是事实。那么事情到底如何呢？这里就给大家好好捋一捋。 一、俄罗斯为何扣押租赁飞机？ 顾名思义，飞机租赁就是租赁公司将飞机租给航空公司供航空公司运营用。由于航空是个重资产的行业，而且飞机的价值往往以亿来计，因此一个航司想 要买飞机的话往往有着较大的资金压力。 | 飞机类型 | 序列号 | 承租方 | 合同开始日期 | 合同到期日期 | 租期 | | --- | --- | --- | --- | --- | -- ...

Market Performance - As of August 18, the Shanghai Composite Index rose by 0.85%, closing at 3728.0273 points [1] - The Shenzhen Component Index increased by 1.73%, closing at 11835.572 points [1] Top Gainers in Hunan Stocks - Changlan Technology opened at 20.030 and closed at 21.130, with a daily increase of 9.99% and a trading volume of 460,259 lots [2] - *ST Gauss opened at 8.370 and closed at 8.580, rising by 5.02% with a trading volume of 36,994 lots [2] - Tuowei Information opened at 32.600 and closed at 33.790, up by 4.71% and a trading volume of 2,171,164 lots [2] - Jiugui Liquor opened at 50.620 and closed at 52.450, increasing by 3.59% with a trading volume of 158,619 lots [2] - Hunan Development opened at 12.640 and closed at 12.930, up by 2.86% with a trading volume of 234,758 lots [2] Top Losers in Hunan Stocks - Hengli Tui opened at 0.160 and closed at 0.150, decreasing by 11.76% with a trading volume of 611,606 lots [3] - Shanhe Intelligent opened at 19.020 and closed at 18.800, down by 2.64% with a trading volume of 2,368,356 lots [3] - Aoshikang opened at 39.420 and closed at 38.810, falling by 2.04% with a trading volume of 87,629 lots [3] - Hualing Steel opened at 5.590 and closed at 5.480, down by 1.97% with a trading volume of 122,223 lots [3] - ST Jingfeng opened at 5.800 and closed at 5.730, decreasing by 1.21% with a trading volume of 15,009 lots [3]

Group 1 - The core viewpoint of the news is that Shanhe Intelligent Equipment Co., Ltd. has applied for a patent for a special operation vehicle, indicating its ongoing innovation in engineering vehicle technology [1] - The patent application was filed on April 2025, and the publication number is CN120482159A, which highlights the company's focus on developing specialized machinery [1] - The patent describes a special operation vehicle that includes a working platform, a boom, a walking chassis, a frame, and a leg support component, showcasing the technical complexity and functionality of the vehicle [1] Group 2 - Shanhe Intelligent Equipment Co., Ltd. was established in 1999 and is located in Changsha, primarily engaged in the rubber and plastic products industry [2] - The company has a registered capital of 1,074.617264 million RMB, reflecting its substantial financial foundation [2] - Shanhe Intelligent has invested in 45 companies and participated in 1,416 bidding projects, indicating its active role in the market [2] - The company holds 1,308 patents and has 69 trademark registrations, demonstrating its commitment to innovation and intellectual property [2]

Group 1 - Company Shanhe Intelligent has received an insurance compensation of $29 million for three aircraft that were stranded in Russia for three years due to the Russia-Ukraine conflict [1][3] - The net amount after deducting legal fees is $22.9651 million, which is expected to impact the company's net profit by approximately 126 million yuan, accounting for 172.92% of the company's audited net profit for the previous year [1][3][4] - AVMAX, the wholly-owned subsidiary of Shanhe Intelligent, operates a large fleet of over 100 aircraft and is recognized as a leading player in the global aviation leasing market [2][3] Group 2 - AVMAX has been unable to recover the stranded aircraft despite multiple attempts and negotiations, highlighting the challenges faced by aviation leasing companies due to ongoing geopolitical tensions [3][4] - The insurance compensation received is considered a non-recurring gain, as AVMAX had previously fully accounted for impairment on the stranded aircraft [4] - Other Chinese leasing companies have also faced similar challenges, with some receiving insurance payouts while others continue to negotiate for their stranded assets [6][7]