Core Insights - The aviation industry experienced an expansion in supply and demand growth year-on-year in November, with domestic routes showing significant improvement and international routes surpassing 2019 levels [1][3] - The overall passenger load factor increased by 2.5 percentage points to 85.6%, with domestic routes seeing a 2.1 percentage point increase to 86.6% [1] - Despite short-term demand pressure on China-Japan international routes, the long-term recovery trend remains intact, supported by resilient demand and price elasticity [3] Industry Performance - In November, the total supply and demand for six listed airlines increased by 7.1% and 10.3% year-on-year, respectively, reaching 110.4% and 116.7% of the levels seen in the same month of 2019 [1] - Domestic routes saw supply and demand growth of 4.2% and 6.8%, while international routes experienced a more robust increase of 15.0% and 20.7% [1] - The three major airlines reported a supply and demand increase of 6.7% and 10.3% year-on-year, with Eastern Airlines leading in passenger load factor at 87.4% [2] Airline-Specific Insights - Spring Airlines and Eastern Airlines led in passenger load factors among private carriers, with Spring Airlines achieving a 92.3% load factor [2] - China National Airlines showed the fastest recovery in load factor, increasing by 3.9 percentage points to 83.3% in November [2] - Hainan Airlines and China National Airlines are highlighted as preferred investment choices due to their performance and recovery potential [3]

Core Viewpoint - Huaxia Airlines experienced a stock price decline of 2.07% on December 19, with a current price of 11.33 yuan per share and a total market capitalization of 14.482 billion yuan [1] Group 1: Stock Performance - The stock price of Huaxia Airlines has increased by 46.01% year-to-date, with a 12.51% rise over the last five trading days, a 0.98% increase over the last 20 days, and an 18.39% rise over the last 60 days [1] - The trading volume on December 19 was 174 million yuan, with a turnover rate of 1.19% [1] Group 2: Financial Performance - For the period from January to September 2025, Huaxia Airlines reported operating revenue of 5.734 billion yuan, representing a year-on-year growth of 11.25%, and a net profit attributable to shareholders of 620 million yuan, reflecting a significant increase of 102.17% [2] - The company has distributed a total of 209 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders of Huaxia Airlines was 21,100, a decrease of 4.88% from the previous period, while the average number of circulating shares per person increased by 5.13% to 60,533 shares [2] - The top ten circulating shareholders include several funds, with notable changes in holdings, such as Zhonggeng Value Pioneer Stock reducing its holdings by 13.27 million shares [2]

证券代码：002928 证券简称：华夏航空 公告编号：2025-078 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、担保额度审批情况概述 华夏航空股份有限公司（以下简称"公司"）分别于 2025 年 04 月 24 日召开 第三届董事会第十七次会议、第三届监事会第十六次会议，于 2025 年 05 月 16 日召开 2024 年年度股东大会，审议通过《关于为全资子公司提供担保的议案》， 同意公司为全资子公司向银行或其他金融机构申请授信不超过人民币 17 亿元或 等值外币提供担保，主要用于子公司引进飞机、飞机预付款、项目建设、购买航 材、设备采购、日常运营等事项；其中，对全资子公司华夏云飞融资租赁（上海） 有限公司（以下简称"华夏云飞"）及其全资子公司云飞飞机租赁（上海）有限 公司（以下简称"云飞租赁"）担保额度合计为 10 亿元。上述担保额度不含此 前已提供且仍在担保期限内的担保余额（此前已提供且仍在担保期限内的担保余 额继续有效），自 2024 年年度股东大会审议通过之日起至 2025 年年度股东会召 开日期间该担保额度可循环使用。具体内容详见公司于 ...

Core Viewpoint - The company has agreed to provide guarantees for its wholly-owned subsidiary, with a total amount not exceeding 1.7 billion yuan or equivalent foreign currency [1] Group 1: Guarantee Details - The guarantee limit for Huaxia Yunfei and its subsidiary Yunfei Leasing has been increased to 1.1 billion yuan [1] - The company has signed two guarantee contracts with Shanghai Rural Commercial Bank, providing joint liability guarantees for two debts of Yunfei Leasing, with principal amounts of 147 million yuan and 146 million yuan respectively [1] Group 2: Current Guarantee Status - As of the announcement date, the actual guarantee balance for Yunfei Leasing is 860 million yuan, with a remaining guarantee capacity of 610 million yuan for Huaxia Yunfei and Yunfei Leasing [1] - The cumulative external guarantee balance for the company and its subsidiaries is 1.235 billion yuan, accounting for 36.77% of the net assets as of the end of 2024, with no overdue external guarantees [1]

Core Viewpoint - The event "C909 Arrives at Thousands, Flying over Huaxia and Zhoushan" aims to promote the integration of civil aviation and cultural tourism, enhancing high-quality tourism product supply in line with the decisions from the 20th National Congress of the Communist Party of China [1] Group 1: Event Overview - The event was launched on December 17, marked by the landing of a Huaxia Airlines C909 at Zhoushan Putuoshan International Airport [1] - The event is organized by China Transportation News Agency, with Huaxia Airlines and Zhoushan Putuoshan International Airport as co-organizers [1] - Over 20 central and industry media reporters, along with online influencers, participated in the flight from Chongqing to Zhoushan, engaging in interactive quizzes about Zhoushan's cultural tourism and domestic aircraft [1] Group 2: Industry Impact - Zhoushan is recognized as China's first important port city established by an archipelago, known as the "Thousand Island City," and is a hotspot for domestic island tourism [1] - Huaxia Airlines has facilitated direct connections from Zhoushan to 13 destinations and linked nearly 100 underserved cities through its connecting flight network, enhancing the potential for civil aviation consumption in tourism cities [1] - Wang Xingyue, Chairman of Zhoushan Putuoshan Airport Co., Ltd., highlighted Huaxia Airlines' experience in regional route planning and its role in improving the airport's connectivity within the Yangtze River Delta aviation network [2]

Core Viewpoint - Huaxia Airlines announced the approval of two significant resolutions during the third meeting of its fourth board of directors, focusing on the conclusion of certain fundraising projects and the internal adjustment of guarantee limits for its wholly-owned subsidiary [2] Group 1 - The company approved the resolution regarding the conclusion of certain fundraising projects and the allocation of surplus funds to other fundraising projects [2] - The company also approved a resolution to internally adjust the guarantee limits for its wholly-owned subsidiary [2]

Core Viewpoint - The company has approved the reallocation of surplus funds from a completed aircraft acquisition project to another aircraft acquisition project to enhance capital efficiency [2] Group 1: Company Actions - The company announced the completion of the project to acquire 5 C909 series aircraft, which are now in a usable state [2] - The company plans to transfer surplus funds amounting to 13.3265 million yuan (including interest income) to the project for acquiring 2 A320 series aircraft [2] - Following the transfer of surplus funds, the company will close the relevant special account for raised funds and terminate the associated tripartite supervision agreement [2]

Core Viewpoint - Huaxia Airlines (002928) announced that the company has no overdue external guarantees and is not involved in any litigation related to guarantees, nor has it incurred any losses due to being ruled against in guarantee-related cases [1] Group 1 - The company confirmed the absence of overdue external guarantees [1] - There are no ongoing litigations related to guarantees [1] - The company has not faced any losses from guarantee-related judgments [1]

（记者 王瀚黎） 每经AI快讯，华夏航空12月17日晚间发布公告称，公司第四届第三次董事会会议于2025年12月17日在 重庆市渝北区江北国际机场航安路30号华夏航空新办公楼524会议室以现场结合通讯表决方式召开。会 议审议了《关于对全资子公司担保额度进行内部调剂的议案》等文件。 每经头条（nbdtoutiao）——"太空快递"来了？全国首个民营飞船成功"上天"！背后公司创始人：正积 极开发"中型货运飞船"低成本产品 ...

Core Viewpoint - The company has approved the conclusion of certain fundraising projects and plans to reallocate surplus funds to other investment projects [1] Group 1: Fundraising Projects - The project "Introduction of 5 C909 Series Aircraft" has been completed, with a total investment of 911.67 million yuan [1] - The surplus funds from this project amount to 13.33 million yuan, including interest income [1] - The company intends to use the surplus funds for the project "Introduction of 2 A320 Series Aircraft" [1] Group 2: Financial Management - After the transfer of surplus funds, the company will cancel the special fundraising account for the "Introduction of 5 C909 Series Aircraft" project [1] - The related "Three-party Supervision Agreement" and "Supplementary Agreement" will also be terminated [1]