Core Insights - The company reported a total operating revenue of 10.935 billion yuan for the first half of 2025, representing a year-on-year increase of 21.92% [1] - The net profit for the same period reached 1.24 billion yuan, showing a significant year-on-year growth of 86.22% [1] Revenue Breakdown - The main business revenue amounted to 10.893 billion yuan, with a year-on-year growth of 22.22% [1] - The revenue from the air cargo segment increased by 16.51%, while costs rose by 11.25%, leading to a gross margin increase of 3.91 percentage points [1] - The air cargo station segment saw a revenue increase of 2.15%, with costs decreasing by 0.05%, resulting in a gross margin increase of 2.10 percentage points [1] Operational Factors - The growth in profitability is attributed to the expansion and optimization of the fleet size and route structure, along with effective capacity input and a decrease in aviation fuel prices [1] - The transformation towards a platform-based operational model for cargo stations has enhanced quality and efficiency, with a continuous increase in cargo station throughput driving improved performance [1]
国货航：上半年营业总收入109.35亿元，净利润12.4亿