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民生证券给予中信海直推荐评级,2025年半年报点评:通航主业稳健增长,低空经济布局打开新局面

Group 1 - The core viewpoint of the report is that Minsheng Securities has given a "recommended" rating to CITIC Offshore Helicopter (000099.SZ) based on its stable growth in general aviation business and improved profitability due to operational efficiency and cost control [1] - The general aviation business provides a solid growth foundation for the company, while the low-altitude economy presents new growth opportunities [1] - The company successfully navigated the global first flight of a 2-ton eVTOL marine oil platform, seizing opportunities in the low-altitude economy sector [1] Group 2 - The report highlights potential risks, including lower-than-expected demand for offshore oil transportation, a single customer structure, and slower-than-anticipated commercialization of the low-altitude economy [1]