Sou Hu Cai Jing·2025-10-28 12:33Core Viewpoint - The report from Xinda Securities on October 28 recommends a "Buy" rating for China Southern Airlines (600029.SH) based on several positive indicators for the company's performance and market conditions [1] Group 1: Financial Performance - Revenue showed a slight increase, with a significant year-on-year growth in net profit attributable to shareholders for Q3 2025 [1] - The company is expected to turn profitable for the full year, driven by a recovery in travel demand in the fourth quarter [1] Group 2: Market Conditions - High passenger load factors during the summer travel season indicate strong domestic and international travel demand [1] - There has been a slight decrease in ticket prices, while unit costs are benefiting from lower oil prices [1]