华夏航空股份有限公司 信息披露暂缓与豁免事务管理制度 第一章 总则 1 第一条 华夏航空股份有限公司（以下简称"公司"）为进一步规范信 息披露暂缓与豁免行为，确保公司及相关信息披露义务人（以下简称"信息披 露义务人"）依法依规履行信息披露义务，根据《中华人民共和国证券法》 《上市公司信息披露暂缓与豁免管理规定》（以下简称《暂缓与豁免管理规 定》）、《深圳证券交易所股票上市规则》（以下简称《股票上市规则》）、 《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》 《深圳证券交易所上市公司自律监管指引第 5 号——信息披露事务管理》等法 律、法规、规范性文件及《华夏航空股份有限公司章程》（以下简称《公司章 程》）等内部制度的有关规定，结合公司实际情况，制定本制度。 第二条 信息披露义务人按照《股票上市规则》及深圳证券交易所（以 下简称"深交所"）其他相关业务规则的规定，办理信息披露暂缓、豁免事务 的，适用本制度。 第三条 应当披露的信息存在《股票上市规则》及深交所其他相关业务 规则中规定的可暂缓、豁免信息披露的情形的，可以无须向深交所申请，经信 息披露义务人自行审慎判断后决定是否暂缓或豁免披露 ...

华夏航空股份有限公司 董事和高级管理人员所持本公司股份及其变动管理制度 第一章 总 则 （二）本人离职后半年内； （三）公司因涉嫌证券期货违法犯罪，被中国证监会立案调查或者被司法机 关立案侦查，或者被行政处罚、判处刑罚未满 6 个月的； 第一条 为加强对华夏航空股份有限公司（以下简称"公司"）董事和高 级管理人员所持本公司股份及其变动的管理，进一步明确管理程序，根据《中华 人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以 下简称《证券法》）、中国证券监督管理委员会（以下简称"中国证监会"）发 布的《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》《深圳 证券交易所股票上市规则》（以下简称《股票上市规则》）、《深圳证券交易所 上市公司自律监管指引第 1 号——主板上市公司规范运作》（以下简称《规范运 作指引》）、《深圳证券交易所上市公司自律监管指引第 10 号——股份变动管 理》等有关法律、法规、规章、规范性文件和《华夏航空股份有限公司章程》 （以下简称《公司章程》）的有关规定，并结合本公司的实际情况，制定本制度。 第二条 本制度适用于公司董事和高级管理人员所持本公司股份及其变动 ...

华夏航空股份有限公司 董事会秘书工作细则 第一章 总则 第一条 为规范公司运作，根据《中华人民共和国公司法》（以下简称 《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、《上市公 司治理准则》《深圳证券交易所股票上市规则》（以下简称《股票上市规则》）、 《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》 （以下简称《规范运作指引》）等有关法律、法规、规章、规范性文件和《华夏 航空股份有限公司章程》（以下简称《公司章程》）的有关规定，并结合本公司 的实际情况，制定本工作细则。 第二条 董事会设董事会秘书，由董事长提名，董事会聘任或解聘，对董 事会负责。 第二章 董事会秘书的任职资格 第三条 董事会秘书应当具备履行职责所必需的财务、管理、法律等专业 知识，具有良好的职业道德和个人品质，并确保在任职期间投入足够的时间和精 力于公司事务，切实履行董事会秘书应履行的各项职责。 第四条 具有下列情形之一的人士不得担任公司董事会秘书： （一）《公司法》规定不得担任董事、高级管理人员的情形； （二）被中国证券监督管理委员会（以下简称"中国证监会"）采取不得担 任上市公司董事、高级管理人员的证 ...

华夏航空股份有限公司 内幕信息知情人登记备案制度 第三条 公司董事会为内幕信息的管理机构，应当保证内幕信息知情人档案真实、 准确和完整，内幕信息知情人档案和重大事项进程备忘录自记录（含补充完善）之日起 至少保存十年。董事长为内幕信息保密工作的主要责任人。董事会秘书负责组织和协调 公司信息披露事务，具体实施内幕信息的保密、登记备案和管理工作，汇集公司应予披 露的信息并报告董事会，持续关注媒体对公司的报道并主动求证报道的真实情况。 第一章 总则 第一条 为规范华夏航空股份有限公司（以下简称"公司"）的内幕信息管理，加 强内幕信息知情人登记备案工作，杜绝相关人员利用内幕信息从事内幕交易，以维护信 息披露的公开、公平、公正原则，根据《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司信息披露管理办法》《上市公司监管指引第5号——上市公司内幕信息 知情人登记管理制度》《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律 监管指引第1号——主板上市公司规范运作》等相关法律法规和《华夏航空股份有限公 司章程》《华夏航空股份有限公司信息披露管理办法》的规定，制定本制度。 第二条 本制度的适用范围包括母公司、分公 ...

Core Insights - The aviation and airport sector saw a slight increase of 0.39% on August 28, with Baiyun Airport leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Baiyun Airport (600004) closed at 9.94, up 1.02% with a trading volume of 289,200 shares and a turnover of 286 million yuan [1] - China Eastern Airlines (600115) closed at 4.15, up 0.97% with a trading volume of 1,051,800 shares and a turnover of 43.5 million yuan [1] - HNA Holding (600221) closed at 1.58, up 0.64% with a trading volume of 5,617,700 shares and a turnover of 887 million yuan [1] - Shenzhen Airport (000089) closed at 7.21, up 0.42% with a trading volume of 224,900 shares and a turnover of 162 million yuan [1] - Shanghai Airport (600009) closed at 32.65, up 0.40% with a trading volume of 159,000 shares and a turnover of 519 million yuan [1] - China National Aviation (601111) closed at 7.55, up 0.40% with a trading volume of 718,000 shares and a turnover of 538 million yuan [1] - Xiamen Airport (600897) closed at 14.94, up 0.34% with a trading volume of 29,500 shares and a turnover of 43.81 million yuan [1] - China Southern Airlines (600029) closed at 6.03, up 0.33% with a trading volume of 654,400 shares and a turnover of 393 million yuan [1] - Spring Airlines (601021) closed at 54.00, unchanged with a trading volume of 62,700 shares and a turnover of 337 million yuan [1] - Juneyao Airlines (603885) closed at 12.54, down 0.08% with a trading volume of 209,000 shares and a turnover of 262 million yuan [1] Capital Flow - The aviation and airport sector experienced a net outflow of 232 million yuan from institutional investors, while retail investors saw a net inflow of 219 million yuan [2] - The detailed capital flow for individual stocks shows varying trends, with some stocks experiencing significant outflows from institutional investors [3] Individual Stock Capital Flow - Shenzhen Airport (000089) had a net outflow of 30.91 million yuan from institutional investors, with a retail net inflow of 22.64 million yuan [3] - Juneyao Airlines (603885) had a net inflow of 3.39 million yuan from institutional investors, but a net outflow of 10.06 million yuan from retail investors [3] - China National Aviation (601111) saw a net outflow of 8.40 million yuan from institutional investors, with a retail net inflow of 7.28 million yuan [3] - China Eastern Airlines (600115) had a net outflow of 37.44 million yuan from institutional investors, with a retail net inflow of 22.91 million yuan [3]

Investment Rating - The report recommends a "Buy" rating for the aviation sector, highlighting potential long-term benefits from the civil aviation authority's "anti-involution" policy and the expected recovery in airline revenues [90][91]. Core Insights - The global aviation market is experiencing a normalization phase with a year-on-year increase in passenger turnover (RPK) of 5.1% in H1 2025, driven by a higher growth rate in international RPK at 7.0% compared to domestic RPK at 2.0% [3][5]. - The U.S. aviation industry shows signs of stabilization with a profit margin of 3.6% in H1 2025, an increase of 0.9 percentage points year-on-year, despite a 1% increase in revenue and a 1% rise in costs [30][32]. - The European aviation market faces uncertainties but shows potential for profit growth, with ticket prices fluctuating significantly due to seasonal factors [66][72]. - In Asia, key markets like Southeast Asia and Japan are witnessing a recovery in passenger volumes, with some airports exceeding pre-pandemic levels [78][81]. Summary by Sections Global Aviation Market Overview - The global aviation market's growth rate has slowed, with H1 2025 showing a 5.1% increase in RPK and a 4.8% increase in available seat kilometers (ASK) [3][5]. - The market's load factor improved to 82.5%, reflecting a 0.2 percentage point increase year-on-year [3]. U.S. Aviation Market Tracking - The U.S. aviation sector's profit margin reached 3.6% in H1 2025, with a 1% increase in revenue and a 1% rise in costs, including a 13% decrease in fuel costs [30][32]. - Ticket prices in the U.S. have seen a decline, with a 5.1% drop in inflation-adjusted prices from January to July 2025 [34][38]. European Aviation Market Tracking - The European aviation market's ticket prices showed volatility, with significant fluctuations in early 2025, but overall recovery in passenger volumes is noted [66][63]. - Major airlines like Lufthansa and IAG reported profit growth in Q2 2025, driven by increased ticket prices and demand recovery [66][72]. Asian Aviation Market Tracking - Southeast Asia and Japan's airports are experiencing a resurgence in passenger traffic, with notable increases in throughput compared to pre-pandemic levels [78][81]. - Key transit airports in the region, such as Singapore and Doha, also reported growth in passenger numbers [81]. Investment Analysis Opinion - The report suggests that the seasonal increase in passenger volume coupled with a decrease in ticket prices has been adequately reflected in market expectations, indicating a favorable outlook for airline profitability [90]. - The report recommends focusing on airlines such as China Southern Airlines, China Eastern Airlines, and Spring Airlines, as well as global aircraft leasing companies and airport operators [90][91].

Market Overview - On August 27, the aviation and airport sector declined by 1.27% compared to the previous trading day, with CITIC Hainan leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Spring Airlines closed at 54.00, up 0.52% with a trading volume of 113,200 shares and a transaction value of 616 million yuan [1] - China Southern Airlines closed at 6.01, down 0.99% with a trading volume of 852,200 shares and a transaction value of 516 million yuan [1] - Shanghai Airport closed at 32.52, down 1.90% with a trading volume of 191,200 shares and a transaction value of 629 million yuan [1][2] Capital Flow Analysis - The aviation and airport sector experienced a net outflow of 369 million yuan from institutional investors, while retail investors saw a net inflow of 217 million yuan [2][3] - Major stocks like Shenzhen Airport and China Eastern Airlines had significant net outflows from institutional investors, indicating a shift in investment sentiment [3] Detailed Stock Capital Flow - Shenzhen Airport had a net inflow of 33.24 million yuan from retail investors but a net outflow of 19.39 million yuan from institutional investors [3] - China Eastern Airlines saw a net outflow of 54.94 million yuan from institutional investors, while retail investors contributed a net inflow of 41.58 million yuan [3] - The overall trend indicates a preference for retail investment in certain stocks despite the overall sector decline [3]

Core Viewpoint - The aviation and airport sector experienced a slight increase of 0.78% on August 26, with CITIC Heli leading the gains, while the overall market showed mixed results with the Shanghai Composite Index down by 0.39% and the Shenzhen Component Index up by 0.26% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3868.38, down 0.39% [1] - The Shenzhen Component Index closed at 12473.17, up 0.26% [1] - CITIC Heli's stock price increased by 3.65% to 25.27, with a trading volume of 733,100 shares and a transaction value of 1.835 billion yuan [1] Group 2: Individual Stock Performance - Major stocks in the aviation sector showed varied performance, with Hainan Airlines up by 1.26% to 1.61 and Southern Airlines up by 1.17% to 6.07 [1] - Shanghai Airport's stock price rose by 1.10% to 33.15, with a trading volume of 210,400 shares and a transaction value of 695 million yuan [1] - Xiamen Airport's stock price increased by 0.13% to 15.14, with a trading volume of 26,000 shares and a transaction value of 39.3871 million yuan [2] Group 3: Fund Flow Analysis - The aviation and airport sector saw a net outflow of 15.1482 million yuan from institutional funds, while retail funds experienced a net inflow of 19.8807 million yuan [2] - The main stocks with significant net inflows included Shanghai Airport with 62.3442 million yuan and CITIC Heli with 62.0524 million yuan [3] - Conversely, China Eastern Airlines experienced a net outflow of 17.5615 million yuan from institutional funds [3]

Core Viewpoint - Starting from September 21, a total of 13 airlines will shift all domestic passenger flights operating at Chongqing Jiangbei International Airport from Terminal 2 (T2) to Terminal 3 (T3) [1] Group 1: Airlines Affected - The airlines involved in the terminal change include Western Airlines (PN), Capital Airlines (JD), Xiangpeng Airlines (8L), Chang'an Airlines (9H), Jinpeng Airlines (Y8), Fuzhou Airlines (FU), Beibu Gulf Airlines (GX), Urumqi Airlines (UQ), Spring Airlines (9C), Qingdao Airlines (QW), Jiuyuan Airlines (AQ), Guilin Airlines (GT), and Longjiang Airlines (LT) [1] Group 2: Airlines Remaining in T2 - Sichuan Airlines (3U), Huaxia Airlines (G5), Hunan Airlines (A6), and Donghai Airlines (DZ) will continue to operate in Terminal 2 (T2), with check-in, security check areas, and passenger transfer processes remaining unchanged [1]

金融界消息 截至2025年8月25日收盘，华夏航空（002928）报收于9.16元，上涨0.99%，换手率1.3%， 成交量16.63万手，成交金额1.51亿元。 天眼查商业履历信息显示，华夏航空股份有限公司，成立于2006年，位于贵阳市，是一家以从事航空运 输业为主的企业。企业注册资本127824.155万人民币，实缴资本36000万人民币。公司法定代表人为胡 晓军。 通过天眼查大数据分析，华夏航空股份有限公司共对外投资了35家企业，参与招投标项目386次，知识 产权方面有商标信息268条，专利信息9条，此外企业还拥有行政许可22个。 资金流向方面，今日主力资金净流入1355.23万元，占比成交额8.97%。其中，超大单净流出101.34万 元、占成交额0.67%，大单净流入1456.57万元、占成交额9.64%，中单净流出流出349.97万元、占成交 额2.32%，小单净流出1005.26万元、占成交额6.66%。 华夏航空最新一期业绩显示，截至2025一季报，公司营业总收入17.74亿元、同比增长9.78%，归属净利 润8197.68万元，同比增长232.31%，扣非净利润7590.25万元，同比增长3 ...