Group 1 - Aerospace Science and Technology expects a net profit of 68 million to 95 million yuan for the first half of 2025, representing a growth of 1628.83% to 2315.27% compared to the same period last year [1] - Huaxia Airlines anticipates a net profit of 220 million to 290 million yuan for the first half of 2025, an increase of 741.26% to 1008.93% year-on-year [1] - Shida Group forecasts a net loss of 44 million to 65 million yuan for the first half of 2025, marking a shift from profit to loss [1] Group 2 - Jiaao Environmental Protection expects a net loss of 70 million to 90 million yuan for the first half of 2025 [3] - Haima Automobile predicts a net loss of 60 million to 90 million yuan for the first half of 2025, compared to a loss of 152 million yuan in the same period last year [3] - Huaibei Mining anticipates a net profit of approximately 1.027 billion yuan for the first half of 2025, a decrease of about 65% year-on-year [3] Group 3 - Quanfu Automobile expects a net loss of 155 million to 185 million yuan for the first half of 2025 [5] - Gaode Infrared signed a procurement agreement worth 879 million yuan, which is expected to positively impact its operating performance for the year [5] - Zhongchen Co. won a project from Southern Power Grid worth 379 million yuan, representing 12.26% of its audited revenue for 2024 [5] Group 4 - Daheng Technology anticipates a net loss of 406,000 yuan for the first half of 2025, compared to a loss of 988,250 yuan in the same period last year [6] - Dazhongnan expects a net profit of 6.5 million to 8 million yuan for the first half of 2025, a recovery from a loss of 15.325 million yuan last year [6] - Xianfeng Holdings projects a net profit of 34 million to 42 million yuan for the first half of 2025, a year-on-year increase of 524.58% to 671.53% [7] Group 5 - Shuangxiang Co. expects a net profit of 115 million to 150 million yuan for the first half of 2025, a growth of 128.1% to 197.53% year-on-year [8] - ST Xintong anticipates a net loss of 67 million to 97 million yuan for the first half of 2025 [9] - Jishi Media forecasts a net loss of 187 million to 233 million yuan for the first half of 2025 [10] Group 6 - Suli Co. expects a net profit of 72 million to 86 million yuan for the first half of 2025, a year-on-year increase of 1008.39% to 1223.91% [11] - Wanli Co. anticipates a net loss of 19 million yuan for the first half of 2025, compared to a loss of 12.9238 million yuan last year [12] - Langzi Co. projects a net profit of 22 million to 26 million yuan for the first half of 2025, an increase of 31.74% to 55.69% year-on-year [14] Group 7 - Changjiang Securities expects a net profit of 1.652 billion to 1.81 billion yuan for the first half of 2025, a growth of 110% to 130% [15] - Huahong Technology anticipates a net profit of 70 million to 85 million yuan for the first half of 2025, a year-on-year increase of 3047.48% to 3721.94% [16] - Chenhua Co. plans to invest 30 million yuan in financial products with an expected annual yield of 3.20% [16] Group 8 - Zijing Mining expects a net profit of approximately 23.2 billion yuan for the first half of 2025, a growth of about 54% year-on-year [28] - Limin Co. anticipates a net profit of 26 million to 28 million yuan for the first half of 2025, a year-on-year increase of 719.25% to 782.27% [29] - Huazhong Securities expects a net profit of 1.035 billion yuan for the first half of 2025, a growth of 44.94% year-on-year [30]

证券代码：002928 证券简称：华夏航空 公告编号：2025-033 2、业绩预告情况：预计净利润为正值且属于下列情形之一： □扭亏为盈 □√同向上升 □同向下降 | | 本报告期 | | | | | | | | | 上年同期 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 项目 | （2025 年 | 年 | 01 | 月 | 01 | 日—2025 | 06 | 月 | 30 | （2024 年 01 月 | 01 | | | | 日— | | | 日） | | | | | | | | | 06 月 | | 2024 年 | 30 | 日） | | | 归属于上市公 司股东的净利 | 盈利：22,000.00 万元–29,000.00 万元 | | | | | | | | | 盈利：2,615.13 | 万元 | | | | | | 润 | 比上年同期增长：741.26%–1,008.93% | | | | | | | | | | ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The report highlights the need for the express delivery industry to shift towards high-quality development, as the State Post Bureau opposes "involution" competition and aims to improve service quality [4] - The express delivery sector is currently experiencing a decline in per-package revenue, with major companies like Zhongtong, Yuantong, Yunda, and Shentong showing year-on-year decreases in revenue per package [4] - Jitu's Southeast Asian market has seen significant growth, with a total package volume of 7.392 billion pieces in Q2 2025, a year-on-year increase of 23.5% [5] - The airline industry is expected to benefit from macroeconomic recovery, with long-term supply-demand trends indicating potential for growth [12] - The shipping sector is anticipated to improve due to OPEC+ production increases and the Federal Reserve's interest rate cuts, with specific recommendations for companies like China Merchants Energy and COSCO Shipping [12] Summary by Sections Express Delivery - The express delivery market is facing intense competition, with major players experiencing a decline in revenue per package [4] - The report suggests that regulatory changes could help improve the situation by reducing low-cost competition and enhancing the performance of leading companies [4][12] Airline Industry - The airline sector is characterized by long-term low supply growth, but demand is expected to benefit from macroeconomic recovery [12] - Key companies to watch include China National Aviation Holding, Southern Airlines, and HNA Group [12] Shipping and Ports - The report indicates a positive outlook for oil transportation due to OPEC+ production increases and potential interest rate cuts [12] - Recommendations include focusing on companies like China Merchants Energy and COSCO Shipping for their growth potential in the shipping market [12] Road and Rail - The report notes that the Daqin Railway experienced a year-on-year decrease in freight volume in June 2025, while overall logistics operations remain stable [11][12] - Companies like Zhongyuan Expressway and Sichuan Chengyu are highlighted for their growth potential due to infrastructure developments [12]

Investment Rating - The report rates the transportation industry as "Outperforming the Market" [2] Core Insights - The easing of the Israel-Iran conflict has led to a decline in oil tanker rates, with the VLCC market shifting from geopolitical influences to supply-demand fundamentals [3][14] - The establishment of the General Aviation and Low Altitude Economy Working Group by the Civil Aviation Administration of China (CAAC) aims to enhance the development of low-altitude economy and general aviation [3][16] - The price of unmanned logistics vehicles has dropped to around 20,000 yuan, contributing to a 5.3% year-on-year growth in national social logistics total in the first five months of 2025 [3][22] Industry Highlights - The VLCC market sentiment has transitioned to supply-demand fundamentals, with tanker rates under pressure due to increased competition among shipowners and no significant rise in cargo volumes [3][14] - As of July 4, 2025, the shipping rates from Shanghai to Europe increased by 3.5% to 2,101 USD/TEU, while rates to the US West and East coasts decreased by 19.0% and 12.6%, respectively [3][15] - In the first half of 2025, 117 new international air cargo routes were opened in China, with over 233 round-trip flights added weekly [3][16][18] - The logistics sector has seen a total of 138.7 trillion yuan in social logistics, reflecting a 5.3% year-on-year increase, with a slight deceleration in growth compared to previous months [3][24] High-Frequency Data Tracking - In June 2025, domestic cargo flights increased by 9.42% year-on-year, while international flights rose by 32.87% [26][33] - The express delivery sector experienced a 17.20% year-on-year increase in business volume in May 2025, with total express business volume reaching 173.2 billion pieces [56][58] - The national port cargo throughput reached 7.345 billion tons in the first five months of 2025, marking a 3.8% year-on-year growth [52]

行业研究丨深度报告丨航空 [Table_Title] 破局时刻：在周期规律中寻找突破口 ——航空机场高速行业 2025年度中期投资策略 %% %% %% %% research.95579.com 1 丨证券研究报告丨 报告要点 [Table_Summary] 展望后市，赔率具强吸引力，多因素共振向好，Q2 拐点已至，盈利逐季上行；供给刚性收紧， 供需改善信号鲜明；收入与成本共振，周期弹性终释放。当前时点行业大多数公司单机市值居 于历史前 40%分位数，赔率具有强吸引力；考虑飞机引进持续受困、供给中期进一步刚性收紧， 叠加燃油成本大幅改善，行业积蓄向上动能，酝酿周期反转机遇。综合考虑业绩弹性以及估值 分位数，首先推荐 A 股民营航司（华夏、春秋以及吉祥）以及港股三大航；若 PMI 指标显著反 转，推荐弹性标的 A 股三大航。 分析师及联系人 [Table_Author] 韩轶超 赵超 张银晗 SAC：S0490512020001 SAC：S0490520020001 SAC：S0490520080027 SFC：BQK468 请阅读最后评级说明和重要声明 2 / 37 %% %% %% %% research ...

北京市金杜律师事务所 关于华夏航空股份有限公司 2025 年第一次临时股东大会 的法律意见书 致：华夏航空股份有限公司 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2022 年年度股东大会审议通过的《公司章程》； 2. 公司于 2025 年 6 月 18 日刊登于巨潮资讯网及深圳证券交易所网站的《华 夏航空股份有限公司第三届董事会第十九次会议决议公告》《华夏航空股份有限公 司第三届监事会第十八次会议决议公告》； 3. 公司于 2025 年 6 月 18 日刊登于巨潮资讯网及深圳证券交易所网站的《华 夏航空股份有限公司关于召开 2025 年第一次临时股东大会的通知》（以下简称《股 东大会通知》）； 4. 公司本次股东大会股权登记日的股东名册； 5. 出席现场会议的股东的到会登记记录及凭证资料； 北京市金杜律师事务所（以下简称本所）接受华夏航空股份有限公司（以下 简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、《中华 人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会《上市公司 股东会规则》（以下简称《股东会规则》）等中华人民共和国境内（以 ...

证券代码：002928 证券简称：华夏航空 公告编号：2025-032 华夏航空股份有限公司 2025 年第一次临时股东大会决议公告 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。 特别提示： 1、本次股东大会未出现否决提案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开情况： （1）会议召开时间：2025 年 07 月 03 日（星期四） 1）现场会议时间：2025 年 07 月 03 日（星期四）14:30 2）网络投票时间： 深圳证券交易所交易系统投票时间：2025 年 07 月 03 日 09:15～09:25， 09:30～11:30，13:00～15:00； 深圳证券交易所互联网投票系统投票时间：2025 年 07 月 03 日 09:15～15:00。 （2）会议召开地点：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 （3）会议召开方式：现场表决与网络投票相结合 （4）会议召集人：公司董事会 （5）会议主持人：公司董事长胡晓军先生 本次会议的召开符合《中华人民共和国 ...

近年来，锡林浩特机场航空通达性持续提升。截至目前，本年度已开通22条航线，通达区内外23个城 市。特别是暑运旺季期间，锡林浩特机场区外通航城市已达到10个，通达地区将覆盖我国华东（上海、 济南）、华南（深圳）、华北（北京两场、天津、石家庄）、西北（西安）、西南（重庆）以及东北 （哈尔滨、沈阳）等6大区域，为旅客提供更多出行选择。（编辑：张薇，校对：李季威，审核：韩 磊） 首航仪式 锡林浩特前往乌海首发团（本文图片由锡林浩特机场提供） 中国民航网 通讯员李海英 报道：7月2日10：09分，随着华夏航空G54893航班平稳降落，标志着锡"锡 林浩特—乌海—西安"首航成功。该航线是锡林浩特机场首次使用空客A320机型运行的"支支通"航线， 畅通了锡林浩特与乌海、西安"空中直连"通道。 根据航班计划，G54893航班于06：10从西安起飞，07：40抵达乌海，08：30乌海起飞，10：15降落锡 林浩特机场。返程航班G54894于11：15从锡林浩特起飞，13：00抵达乌海，13：50继续飞往西安， 15：15抵达终点。如此高效的航班时刻安排，极大地提升了旅客的出行效率，让旅客能够在更短的时间 内畅游三地，感受不同地 ...

Core Insights - The Civil Aviation Administration of China reported a total profit of 1.2 billion yuan for the aviation industry in 2024, marking a significant improvement of 20.61 billion yuan year-on-year, representing the first overall "loss reduction and profit increase" since the pandemic [1] - Private airlines demonstrated significantly better profitability compared to state-owned carriers, with Spring Airlines, Juneyao Airlines, and China United Airlines achieving net profits of 2.273 billion yuan, 914 million yuan, and 268 million yuan respectively [1] - State-owned airlines, including China Southern Airlines, China Eastern Airlines, and Air China, continued to face losses for the fifth consecutive year, with an average loss reduction from 5 billion USD in 2022 to 286 million USD in 2024 [2] Industry Structure - The profitability of private airlines is attributed to their low-cost operating models, with Spring Airlines exemplifying this approach by maintaining a focus on core metrics such as flight utilization, passenger load factor, and cost control [3] - Private airlines have shown greater flexibility in route selection, prioritizing market demand and profitability, which has allowed them to fill market gaps that state-owned airlines have overlooked [3] - The operational efficiency and decision-making agility of private airlines have enabled them to recover more quickly from the pandemic compared to state-owned counterparts [4] Future Outlook - The aviation market in China is expected to undergo a reshuffling in the coming years as it emerges from the pandemic, with private airlines likely to continue focusing on differentiated and segmented market strategies [4] - State-owned airlines may need to implement deep structural reforms in their organizational, financial, and operational mechanisms to escape the cycle of losses, potentially exploring mixed-ownership trials for non-core routes and subsidiaries [4]

Core Viewpoint - The event organized by Huaxia Airlines aimed to enhance aviation safety skills and celebrate the party's anniversary through practical training and competition [1]. Group 1: Competition Overview - The fifth aviation safety personnel skills competition was held in Chongqing, featuring 8 teams from various bases of Huaxia Airlines [1][3]. - The competition consisted of two main segments: theoretical duty competition and comprehensive physical fitness competition, integrating professional knowledge with competitive elements [3]. Group 2: Theoretical Duty Competition - The theoretical duty competition showcased the results of scenario-based training, including individual and group answering formats, as well as rapid response questions [3]. - Participants engaged with video presentations of real security incidents, enhancing their understanding of aviation security regulations and demonstrating their professional knowledge and psychological resilience [3]. Group 3: Comprehensive Physical Fitness Competition - The physical fitness segment combined high-intensity physical tasks, information memorization, psychological pressure resistance, and emergency response skills, creating a multi-dimensional assessment system [5][6]. - Contestants were required to memorize key information quickly, overcome physical obstacles, and respond to simulated emergencies using professional tactics, rigorously testing their emergency response capabilities [6]. Group 4: Results and Future Plans - After intense competition, the Inner Mongolia base security team won the group first prize, with six individual awards distributed among participants [7]. - Huaxia Airlines has successfully hosted this event for five consecutive years, significantly improving the operational capabilities and teamwork of aviation security personnel, while reinforcing the company's air defense safety measures [7]. - The company plans to continue prioritizing safety and strengthening its aviation security team to ensure passenger safety and contribute positively to the party's initiatives [7].