正值暑运高峰，为精准满足旅客出行需求、提升旅客出行效率，杭州机场联合相关航空公司，推出 值机优化举措，所有快线航班（国航杭州至北京首都、杭州至成都双流，南航杭州至广州）及长龙航空 国内航班的值机截载时间由原来的40分钟缩短至35分钟。 目前，杭州机场正以此次调整为试点，持续收集运行数据，计划将成熟经验逐步推广至更多航线， 不断打造"更便捷、更舒适、更人文"的航空出行体验，让服务更精准地贴合旅客的多样化需求。 据了解，为确保35分钟的截载时间既"提速"又"稳行"，杭州机场与国航、长龙、南航等航空公司深 度协作，对机位安排、行李分拣、航班配载、航班关舱等关键保障环节的时间节点进行精细梳理，通过 将"挤"出来的5分钟科学分配至各流程衔接中，使得在缩短值机时间的同时航班运行标准不降，确保安 全、服务与效率的兼顾。 节省的"5分钟"，将为搭乘上述快线及长龙航空航班的旅客带来切实便利。尤其是商务旅客等对时 间敏感的群体，获得了额外的5分钟弹性时间，同时有效减少了旅客赶在最后截止时间前抵达柜台的紧 迫感，值机体验更为舒适。 ...

转自：新京报我们视频 【#航司称旅客被烫伤厨师赔1万不符流程# 正协商解决】#航司回应旅客在机场休息室被烫伤# 近日，一 旅客反映在机场国航休息室因员工失误被烫伤。当事人左先生称7月20日事发休息室厨师误将高温热水 倒在他腿上，事发后厨师提出赔偿1万元或为左先生在航站楼内专柜买新裤子。左先生告诉记者，随后 联系他的航司相关负责人称会赔偿500元。7月31日，国航休息室相关负责人表示，厨师私下给出赔偿方 案不符合特殊情况处置流程，对于赔偿金额等问题，目前仍在与左先生协商。（记者：苗玉薪 制作： 张笑然） ...

【#航司回应旅客在机场休息室被烫伤#：厨师提出赔1万元不符合流程 正协商解决】近日，一旅客反映 在机场国航休息室因员工失误被烫伤。当事人左先生称7月20日事发休息室厨师误将高温热水倒在他腿 上，事发后厨师提出赔偿1万元或为左先生在航站楼内专柜买新裤子。左先生告诉@新京报 记者，随后 联系他的航司相关负责人称会赔偿500元。7月31日，国航休息室相关负责人表示，厨师私下给出赔偿方 案不符合特殊情况处置流程，对于赔偿金额等问题，目前仍在与左先生协商。 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report The report analyzes the performance and bond holdings of active bond funds in Q2 2025. It shows that the bond - type fund market expanded, active bond funds' performance improved, with increased leverage and duration, and there were specific trends in bond holdings and credit - bond investments [1][2]. 3. Summary by Relevant Catalogs 3.1 25Q2 Bond - Type Fund Market Overview - As of the end of Q2 2025, there were 3,862 public open - end bond - type funds, a 1.4% increase from Q1 2025. The market size was 10.93 trillion yuan, an 8.6% increase, and the fund shares were 9.60 trillion, with a net subscription of 565.67 billion shares (6.3% subscription ratio) [1][19]. - Except for convertible bond funds, all types of bond - type funds had net subscriptions and market - scale expansion. For example, mid - long - term bond funds had a net subscription of 207.647 billion shares (3.5% subscription ratio), and short - term bond funds had a net subscription of 152.705 billion shares (17.3% subscription ratio) [24]. 3.2 Active Bond Fund Quarterly Performance 3.2.1 Performance - In Q2 2025, the performance of all types of active bond funds improved compared to the previous quarter. The average returns of short - term pure - bond funds, mid - long - term pure - bond funds, mixed first - tier bond funds, and mixed second - tier bond funds were 0.66%, 0.94%, 1.22%, and 1.68% respectively [2][33]. 3.2.2 Leverage Ratio and Duration - By the end of Q2 2025, the average leverage ratios of short - term pure - bond funds, mid - long - term pure - bond funds, mixed first - tier bond funds, and mixed second - tier bond funds were 115.10%, 126.04%, 119.71%, and 117.98% respectively, all increasing from the previous quarter [39]. - The average durations of their top - five heavy - position bonds were 1.32 years, 3.26 years, 4.26 years, and 3.91 years respectively, also increasing from the previous quarter [42]. 3.2.3 Bond Holdings - By the end of Q2 2025, the total market value of active bond funds' bond holdings was 1.079925 trillion yuan, an 8.03% increase from the previous quarter. Interest - rate bonds were generally increased, and except for convertible bonds and asset - backed securities, the market values of other bond varieties increased [47]. 3.3 Active Bond Fund Heavy - Position Credit - Bond Analysis 3.3.1 Urban Investment Bonds - By the end of Q2 2025, the market value of active bond funds' heavy - position urban investment bonds was 72.406 billion yuan, a decrease of 1.794 billion yuan from Q1 2025. Zhejiang had the highest heavy - position market value, followed by Jiangsu and Shandong. Guangdong, Guangxi, and Shanghai were increased, while Hunan, Sichuan, and Henan were decreased [52]. - The average remaining term was 2.43 years, a decrease of 0.17 years from Q1 2025. Shaanxi had the longest average remaining term, and Ningxia had the shortest. The average valuation yield was 1.93%, a decrease of 25.63 BP from Q1 2025, and yields in all provinces decreased [52][53]. - The main heavy - position urban investment entities were high - rated ones like Shandong Hi - Speed Group and Jilin Hi - Speed Group. Entities like Yiwu State - owned Assets and Guangzhou Knowledge City Group were increased [57]. 3.3.2 Industrial Bonds - By the end of Q2 2025, the market value of active bond funds' heavy - position industrial bonds was 121.104 billion yuan, an increase of 20.135 billion yuan from Q1 2025. Non - bank finance, public utilities, and transportation had large positions. Public utilities and transportation were increased, while real estate and food and beverage were decreased [61]. - The average remaining term was 2.52 years, an increase of 0.05 years from Q1 2025. The average valuation yield was 1.88%, a decrease of 25.74 BP from Q1 2025, and yields in all industries decreased [61]. - The main heavy - position industrial entities were AAA - rated central state - owned enterprises like Central Huijin and State Grid. State Grid, China National New Energy Holdings, and China National Chemical Corporation were increased [66]. 3.3.3 Financial Bonds - By the end of Q2 2025, the market value of active bond funds' heavy - position financial bonds was 575.617 billion yuan, an increase of 8.97 billion yuan from Q1 2025. Ordinary commercial financial bonds and commercial bank secondary capital bonds accounted for the main scale. Secondary capital bonds were increased, and ordinary commercial financial bonds were decreased [69]. - The average remaining term was 3.75 years, an increase of 0.60 years from Q1 2025. The average valuation yield was 1.78%, a decrease of 21.39 BP from Q1 2025, and yields of all types of financial bonds decreased [70]. - The main heavy - position financial bond entities were large - state - owned and joint - stock banks like China Construction Bank, and entities like China Construction Bank, Industrial and Commercial Bank of China, and Bank of China were increased [74].

此外，梁译丰先生接替禤浩贤先生担任公司于上市规则第19A.13(2)条项下代表公司在中国香港接收法 律程序文件及通知的代理人，自2025年8月1日起生效。 中国国航（601111）(00753)发布公告，公司现任联席公司秘书肖烽先生获认可为香港公司治理公会及 特许公司治理公会的资深会士。因此，肖烽先生已取得香港联合交易所有限公司证券上市规则第3.28条 所规定的专业资格，并符合资格及能够独立履行公司秘书的职能。因此，禤浩贤先生辞任公司联席公司 秘书，自2025年8月1日起生效。禤浩贤先生辞任后，肖烽先生将继续担任并作为公司的唯一公司秘书。 ...

此外，梁译丰先生接替禤浩贤先生担任公司于上市规则第19A.13(2)条项下代表公司在中国香港接收法 律程序文件及通知的代理人，自2025年8月1日起生效。 智通财经APP讯，中国国航(00753)发布公告，公司现任联席公司秘书肖烽先生获认可为香港公司治理公 会及特许公司治理公会的资深会士。因此，肖烽先生已取得香港联合交易所有限公司证券上市规则第 3.28条所规定的专业资格，并符合资格及能够独立履行公司秘书的职能。因此，禤浩贤先生辞任公司联 席公司秘书，自2025年8月1日起生效。禤浩贤先生辞任后，肖烽先生将继续担任并作为公司的唯一公司 秘书。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 00753 公司秘書資格情況更新及於香港接收法律程序文件及通知的代理人變更 茲提述中國國際航空股份有限公司（「本公司」）日期為二零二四年三月二十八日之公告， 內容有關（其中包括）本公司更換聯席公司秘書和相關豁免。 本公司謹此宣佈，本公司現任聯席公司秘書肖烽先生（「肖先生」）獲認可為香港公司治理 公會及特許公司治理公會的資深會士。因此，肖先生已取得香港聯合交易所有限公司證 券上市規則（「上市規則」）第3.28條所規定的專業資格，並符合資格及能夠獨立履行公司秘 書的職能。因此，禤浩賢先生（「 先生」）辭任本公司聯席公司秘書，自二零二五年八月 一日起生效。禤先生辭任後，肖先生將繼續擔任並作為本公司之唯一公司秘書。 禤先生已確認彼與本公司董事會（「董事會」）並無任何意見分歧，亦無其他與其辭任有關 之事項而須敦請本公司股東垂注。 董事會進一步宣佈，梁譯丰先生接替禤先生擔任本公司於上市規則第19A.13(2)條項下代 ...

Investment Rating - The report provides an "Increase" rating for the aviation industry, indicating a potential growth of over 15% relative to the CSI 300 index [27]. Core Insights - The aviation industry is experiencing a steady improvement in supply and demand, leading to significant reductions in losses. The summer travel season has shown unexpected weakness in business travel, but the long-term logic of the aviation sector remains intact, with expectations of benefiting from a "reverse internal competition" strategy [2][3]. Summary by Sections Supply and Demand Dynamics - In Q2 2025, domestic supply maintained low growth with 107 new aircraft introduced, resulting in a net increase of only 52 aircraft. The industry’s Available Seat Kilometers (ASK) is estimated to have grown by 6.7% year-on-year [3]. - Domestic demand showed a steady recovery, with domestic passenger traffic increasing by 5.5% in Q2, while the average domestic ticket price (including fuel) remained stable compared to Q1 [3][9]. Financial Performance - The industry significantly reduced losses in Q2, with passenger load factors improving by 1.9 percentage points year-on-year, reaching a historical high for the same period. The average domestic fuel price decreased by 17% year-on-year, contributing to profitability [3][9]. - The report estimates that the industry may achieve profitability in May, with major airlines expected to report substantial reductions in losses for Q2 [3]. Summer Travel Season Insights - The summer travel season has seen a 3% year-on-year increase in passenger traffic, although ticket prices have decreased by 4-5%, which is lower than previous expectations. The supply growth remains limited due to a slight increase in fleet size and strict flight scheduling by the Civil Aviation Administration [3]. - There is a notable increase in leisure travel, particularly among families and young travelers, while business travel has unexpectedly weakened [3]. Long-term Outlook - The report emphasizes that the aviation industry is entering a low-growth supply era, but the medium-term growth trend remains stable. The anticipated policies aimed at reducing excessive low pricing are expected to support profitability recovery [3]. - The report recommends a contrarian investment approach in the aviation sector, highlighting the potential for significant earnings recovery in 2025, with specific recommendations to increase holdings in China National Aviation, Spring Airlines, and others [3][22].

Core Viewpoint - The total box office for the summer of 2025 has surpassed 6 billion, with the film "Nanjing Photo Studio" leading the charts [1]. Group 1: Film Overview - "Nanjing Photo Studio" is based on real evidence of Japanese war crimes during the Nanjing Massacre, focusing on the story of "Japanese war crime photographs" [3]. - The film reveals the origins of these historical photographs and showcases the challenges faced in exposing the evidence of war crimes [5]. - The film features actors Liu Haoran, Wang Chuanjun, Gao Ye, and Wang Xiao, and was released nationwide on July 25, coinciding with the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression [7]. Group 2: Promotional Activities - CCTV News, in collaboration with the National Film Administration, Air China, and ticketing platforms Maoyan and Taopiaopiao, launched a promotional event from July 21 to August 20, offering ticket buyers a chance to win flight discount coupons [9]. - The event allows participants to enter a lottery for a 500 yuan flight discount coupon after purchasing any movie ticket on the specified platforms [9]. - Additionally, a mileage points redemption program for movie tickets is ongoing, allowing users to exchange points for tickets through the CCTV News client [11].

Core Viewpoint - The global aviation industry is significantly impacted by delivery delays from aircraft and engine manufacturers, leading to reduced aircraft deliveries and increased operational challenges for airlines [1][3]. Group 1: Airbus Financial Performance - Airbus delivered 306 commercial aircraft in the first half of 2025, a decrease from 323 in the same period of 2024, due to engine supply issues [1]. - The company's consolidated revenue increased by 3% year-on-year to €29.6 billion, while revenue from the commercial aircraft segment decreased by 2% to €20.8 billion [1]. - Adjusted EBIT for the first half of 2025 was €2.204 billion, up from €1.391 billion in the same period of 2024, but adjusted EBIT related to commercial aircraft fell to €1.714 billion from €1.954 billion [1]. Group 2: Production Capacity and Supply Chain Challenges - Airbus aims to increase A320 production to 75 aircraft per month by 2027, with A330 production currently stable at 4 per month and a target of 5 by 2029 [2]. - Supply chain challenges have been exacerbated post-pandemic, affecting production capacity for A350 and A220 projects, with targets set for 12 A350s per month by 2028 and 14 A220s by 2026 [2]. - The pandemic led to significant layoffs in both aircraft manufacturers and parts suppliers, complicating the recovery process and causing delivery delays [2]. Group 3: Industry-Wide Impacts - The global backlog of undelivered aircraft exceeds 17,000, significantly higher than pre-pandemic levels, indicating potential delivery times of up to 14 years [3]. - Airlines are increasingly turning to the second-hand market or leasing aircraft due to delays in new deliveries, resulting in a 20-30% increase in narrow-body aircraft rental rates compared to 2019 [3]. - The supply chain issues have led to increased costs for airlines, including higher leasing costs and maintenance expenses due to aging fleets [4].