Group 1 - New Yi Sheng expects a net profit increase of 327.68%-385.47% for the first half of 2025, reaching between 37 billion to 42 billion yuan, driven by growth in AI-related computing power demand and product structure optimization [2][4] - Xinghui Entertainment plans to sell 99.66% of its stake in the Spanish club Espanyol for 1.3 billion euros, with half of the payment in cash and the other half in shares [3] - *ST Yushun intends to acquire 100% of three companies for a total of 33.5 billion yuan, aiming to diversify its business into data center infrastructure services and related products [4] Group 2 - Salted Fish plans to reduce its shareholding by up to 2.04%, with a major shareholder intending to sell 5,455,572 shares [5] - Lian Microelectronics expects a net loss of approximately 1.21 billion yuan for the first half of 2025 [6] - Meinian Health anticipates a net loss of 1.92 billion to 2.36 billion yuan for the first half of 2025, with revenue expected to decline by 0.12%-5.83% [7] Group 3 - Chengdi Xiangjiang forecasts a net profit of 28 million to 42 million yuan for the first half of 2025, marking a turnaround from a loss of 69.29 million yuan in the previous year [8] - Jinpu Titanium plans to acquire 100% of Nanjing Lide Oriental Rubber and Plastic Technology Co., Ltd., with stock resuming trading after the announcement [9] - Bohai Leasing expects a net loss of 1.8 billion to 2.4 billion yuan for the first half of 2025 due to goodwill impairment from a subsidiary's asset sale [10] Group 4 - Foton Motor anticipates a net profit increase of approximately 87.5% for the first half of 2025, reaching about 777 million yuan [11] - Shenwan Hongyuan expects a net profit growth of 92.66%-111.46% for the first half of 2025, estimating profits between 4.1 billion to 4.5 billion yuan [12] - Ganfeng Lithium predicts a net loss of 5.5 billion to 3 billion yuan for the first half of 2025, an improvement from a loss of 7.6 billion yuan in the previous year [13] Group 5 - Suzhou Planning intends to acquire 100% of Beijing Dongjin Aviation Technology Co., Ltd., with stock resuming trading after the announcement [14] - Xiangyang Bearing expects a net loss of approximately 13 million yuan for the first half of 2025, slightly worse than the previous year's loss [15] - Tianqi Lithium forecasts a net profit of 0 to 1.55 billion yuan for the first half of 2025, a significant improvement from a loss of 5.2 billion yuan in the previous year [16] Group 6 - Shandong Gold anticipates a net profit increase of 84.3%-120.5% for the first half of 2025, estimating profits between 2.55 billion to 3.05 billion yuan [17] - Yunnan Geology expects a net profit of 16 million to 23 million yuan for the first half of 2025, marking a turnaround from a loss in the previous year [18] - Four-dimensional Map expects a net loss of 319 million to 268 million yuan for the first half of 2025, with revenue growth of 3.07%-14.30% [19] Group 7 - Tangrenshen anticipates a net loss of 54 million to 69 million yuan for the first half of 2025, a significant decline from the previous year's profit [20] - Changbai Mountain expects a net loss of 2.58 million to 1.58 million yuan for the first half of 2025, with revenue decreasing by approximately 7.48% [21] - Jiu Gui Jiu predicts a net profit of 8 million to 12 million yuan for the first half of 2025, a decline of 90.08%-93.39% compared to the previous year [22] Group 8 - Hengsheng Electronics expects a net profit increase of 740.95% for the first half of 2025, estimating profits around 251 million yuan [23] - Qixia Construction anticipates a net profit of 5.5 million to 8 million yuan for the first half of 2025, driven by increased project completions [24] - Poly Development expects a net profit decrease of 63.15% for the first half of 2025, estimating profits around 27.35 billion yuan [25] Group 9 - Anyuan Coal anticipates a net loss of 259 million to 310 million yuan for the first half of 2025, worsening from the previous year's loss [26] - Zhonghua Equipment plans to acquire 100% of Yiyang Rubber Machine and Beihua Machine, with stock suspension expected for no more than 10 trading days [27] - Bayi Steel expects a net loss of 650 million to 700 million yuan for the first half of 2025, primarily due to weak market conditions [28] Group 10 - Yuegui Co. anticipates a net profit increase of 58.67%-77.12% for the first half of 2025, estimating profits between 215 million to 240 million yuan [29] - Dalian Friendship expects a net loss of 38 million to 30 million yuan for the first half of 2025, with revenue impacted by tax-related issues [30] - Hangfa Power expects a net profit decrease of 84.53%-86.55% for the first half of 2025, estimating profits around 80 million to 92 million yuan [31] Group 11 - Dongfang Zirconium anticipates a net profit increase of 141.77%-156.80% for the first half of 2025, estimating profits between 25 million to 34 million yuan [32] - Hangzhou Steel expects a net profit decrease of 2% from a major shareholder's planned reduction [33] - Jingao Technology predicts a net loss of 2.5 billion to 3 billion yuan for the first half of 2025, worsening from the previous year's loss [34] Group 12 - Shanshan Co. expects a net profit increase of 810.41%-1265.61% for the first half of 2025, estimating profits between 160 million to 240 million yuan [35] - Guocheng Mining anticipates a net profit increase of 1046.75%-1174.69% for the first half of 2025, estimating profits between 493 million to 548 million yuan [36] - Jindi Group expects a net loss of 3.4 billion to 4.2 billion yuan for the first half of 2025, with significant declines in revenue [37] Group 13 - Founder Securities anticipates a net profit increase of 70%-80% for the first half of 2025, estimating profits between 22.96 billion to 24.32 billion yuan [38] - Hasi Lian expects a net loss of 98 million to 80 million yuan for the first half of 2025, a significant decline from the previous year [39] - Lanhua Ketech expects a net profit decrease of 89.12%-92.75% for the first half of 2025, estimating profits between 40 million to 60 million yuan [40] Group 14 - Shanxi Securities anticipates a net profit increase of 58.17%-70.72% for the first half of 2025, estimating profits between 5.04 billion to 5.44 billion yuan [41] - Xinda Real Estate expects a net loss of 3.5 billion to 3.9 billion yuan for the first half of 2025, with significant declines in revenue [42] - Xiangcai Co. anticipates a net profit increase of 63.64%-118.19% for the first half of 2025, estimating profits between 12 million to 16 million yuan [43] Group 15 - Longi Green Energy expects a net loss of 2.4 billion to 2.8 billion yuan for the first half of 2025, despite an increase in sales volume [44] - Wentai Technology anticipates a net profit increase of 178%-317% for the first half of 2025, estimating profits between 390 million to 585 million yuan [45] - Ruida Futures expects a net profit increase of 50.56%-83.15% for the first half of 2025, estimating profits between 206 million to 251 million yuan [46] Group 16 - Debang Co. anticipates a net profit decrease of 84.26%-87.86% for the first half of 2025, estimating profits between 40 million to 52 million yuan [47] - Jin Yi Culture expects a net loss of 20 million to 32 million yuan for the first half of 2025, a significant decline from the previous year [48] - Hongdian Film expects a net profit increase of 103.55%-160.09% for the first half of 2025, estimating profits between 180 million to 230 million yuan [49] Group 17 - Qiaqia Food anticipates a net profit decrease of 71.05%-76.25% for the first half of 2025, estimating profits between 80 million to 97.5 million yuan [50] - Guotai Haitong expects a net profit increase of 205%-218% for the first half of 2025, estimating profits between 15.283 billion to 15.957 billion yuan [51] - Xining Special Steel expects a net loss of approximately 234 million yuan for the first half of 2025, with revenue impacted by low steel prices [52]

Major Events - Zhonghua Equipment plans to acquire 100% equity of Yiyang Rubber and Plastic Machinery Group and Beihua Machinery, with stock suspension starting July 15, 2025 [3] - Suzhou Planning intends to purchase 100% equity of Dongjin Aerospace through a combination of cash and stock issuance, with stock resuming trading on July 15, 2025 [4] - Aerospace Development's independent director was detained for personal reasons unrelated to the company's operations, which remain stable [5][6] - *ST Tianmao issued a risk warning regarding potential delisting due to failure to disclose annual reports in time [7] - ST Shuntian will suspend trading for one day on July 15, 2025, and will remove other risk warnings, changing its stock name to Jiangsu Shuntian [8] - Xinghui Entertainment plans to transfer 99.66% equity of Espanyol Football Club for €130 million, focusing on core business areas [9] Performance Reports - China Salt Chemical reported a 5.76% decrease in revenue to ¥5.998 billion and an 88.04% drop in net profit to ¥52.71 million for the first half of 2025 [10] - Jiu Gui Jiu expects a net profit of ¥8 million to ¥12 million, down 90.08% to 93.39% year-on-year, with revenue around ¥560 million, a 43% decline [11] - Suli Co. anticipates a net profit of ¥72 million to ¥86 million, up 1008.39% to 1223.91% year-on-year, driven by increased sales and prices [12] - Te Yi Pharmaceutical expects a net profit of ¥34 million to ¥38 million, a growth of 1164.22% to 1312.95% year-on-year, due to strong sales of its core product [13] - Huahong Technology forecasts a net profit of ¥70 million to ¥85 million, up 3047.48% to 3721.94% year-on-year, benefiting from improved market conditions [14] - Qianfang Technology expects a net profit of ¥150 million to ¥200 million, an increase of 1125.99% to 1534.65% year-on-year, influenced by fair value changes of equity instruments [15] - Huaxia Airlines anticipates a net profit of ¥220 million to ¥290 million, up 741.26% to 1008.93% year-on-year, due to improved flight demand [16] - Xianfeng Holdings expects a net profit of ¥34 million to ¥42 million, a growth of 524.58% to 671.53% year-on-year, mainly from non-recurring gains [17] - Xinyi Sheng expects a net profit of ¥370 million to ¥420 million, up 327.68% to 385.47% year-on-year, driven by AI-related investments [18] - Haili Co. anticipates a net profit of ¥30.5 million to ¥36 million, a growth of 625.83% to 756.71% year-on-year, due to improved sales [19] - Hengsheng Electronics expects a net profit of approximately ¥251 million, an increase of about 740.95% year-on-year, due to significant non-recurring gains [20] - Tianqi Lithium expects a net profit of ¥0 to ¥155 million, recovering from a loss of ¥5.206 billion in the previous year [21] - Shui Jing Fang forecasts revenue of ¥1.498 billion, down 12.84%, and a net profit of ¥105 million, down 56.52% [22] - CICC expects a net profit of ¥3.453 billion to ¥3.966 billion, an increase of 55% to 78% year-on-year [23] - Shenwan Hongyuan anticipates a net profit of ¥4.1 billion to ¥4.5 billion, a growth of 92.66% to 111.46% year-on-year [24] - Xinda Securities expects a net profit of ¥921 million to ¥1.044 billion, an increase of 50% to 70% year-on-year [25] - Shanxi Securities anticipates a net profit of ¥504 million to ¥544 million, a growth of 58.17% to 70.72% year-on-year [26] - Guohai Securities expects a net profit of ¥370 million, a growth of 159.26% year-on-year [27] - Guocheng Mining anticipates a net profit of ¥493 million to ¥548 million, a growth of 1046.75% to 1174.69% year-on-year [28] - China Rare Earth expects a net profit of ¥136 million to ¥176 million, recovering from a loss of ¥244 million [29] - Perfect World anticipates a net profit of ¥480 million to ¥520 million, recovering from a loss of ¥177 million [30] - Fangda Carbon expects a net profit of ¥50 million to ¥60 million, down 65.13% to 70.93% year-on-year [31] - Huanghe Xuanfeng expects a net loss of ¥285 million [32] - JA Solar anticipates a net loss of ¥2.5 billion to ¥3 billion, worsening from a loss of ¥874 million [33] - Shanxi Black Cat expects a net loss of ¥490 million to ¥540 million [34] - Ganfeng Lithium anticipates a net loss of ¥300 million to ¥550 million, improving from a loss of ¥760 million [35] - Xinda Real Estate expects a net loss of ¥3.5 billion to ¥3.9 billion [36] - Greenland Holdings anticipates a net loss of ¥3 billion to ¥3.5 billion [37] - Air China expects a net loss of ¥1.7 billion to ¥2.2 billion [39] - OFILM expects a net loss of ¥85 million to ¥115 million [40] - Vanke A expects a net loss of ¥10 billion to ¥12 billion [41] Major Contracts - Zhongchen Co. won a project from Southern Power Grid worth ¥379 million, accounting for 12.26% of its 2024 audited revenue [42] - Gaode Infrared signed a procurement agreement worth ¥879 million, representing 32.84% of its 2024 audited revenue [43]

Group 1: Core Insights - The three major state-owned airlines in China have released their performance forecasts for the first half of 2025, indicating significant improvement but still reporting losses [2][3][4][5] - Air China (国航) expects a net loss of approximately 1.7 billion to 2.2 billion yuan, showing a reduction from a net loss of 2.782 billion yuan in the same period last year [2] - China Eastern Airlines (东航) anticipates a net loss of 1.2 billion to 1.6 billion yuan, a notable improvement from a net loss of 2.768 billion yuan in the previous year [3][4] - China Southern Airlines (南航) projects a net loss of 1.338 billion to 1.756 billion yuan, with no significant improvement compared to a net loss of 1.228 billion yuan in the same period last year [5] Group 2: Factors Influencing Performance - Air China's performance improvement is attributed to steady economic growth in China, enhanced operational efficiency, and strict cost control measures [2] - China Eastern Airlines credits its reduced losses to a favorable domestic economic environment, robust civil aviation market, and expansion of international routes [4] - China Southern Airlines cites multiple challenges including changes in passenger demographics, competition from high-speed rail, and global supply chain disruptions as factors maintaining significant operational pressure [5] Group 3: Strategic Initiatives - Air China is focusing on improving aircraft utilization, precise marketing strategies, and cost management to enhance operational efficiency [2] - China Eastern Airlines has rapidly expanded its international routes, launching numerous new flights and increasing its European destinations to 14 [4] - China Southern Airlines reports a significant increase in net profit excluding non-recurring items, indicating potential for future recovery despite current losses [5]

盈利預警 本公告由中國國際航空股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上市 規則（「上市規則」）第13.09條和第13.10B條，以及香港法例第571章證券及期貨條例第 XIVA部項下之內幕消息條文（定義見上市規則）而作出。 一、本期業績預告情況 （一）業績預告期間 2025年1月1日至2025年6月30日。 （二）業績預告情況 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 （二）每股收益：人民幣-0.18元。 三、本期業績預虧的主要原因 2025年中國經濟平穩增長，航空市場持續發展，本公司抓住機遇全力推進提質增 效。加強生產組織，提升可用飛機利用率夯實投入基本盤；精細營銷把控，推動「保 價爭量」穩定收益品質；嚴格成本管控，降低成本水平拓展效益空間；上半年經營效 益穩步改善，同比實現大幅減虧。但受市場供給不均衡、客源結構下沉、高鐵網絡 衝擊，以及國際環境不確定性加深、全球產業鏈供應鏈變化等因素影響，本公司上 半年仍處於虧損 ...

证券代码：601111 股票简称：中国国航 公告编号：2025-030 中国国际航空股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 属于上市公司股东的净亏损约为 17 亿元到 22 亿元。 后的净亏损约为 18 亿元到 24 亿元。 一、本期业绩预告情况 （一）业绩预告期间 （二）业绩预告情况 上市公司股东的净亏损约为 17 亿元到 22 亿元，归属于上市公司股东扣除非经常 性损益后的净亏损约为 18 亿元到 24 亿元。 二、上年同期业绩情况 （一）归属于上市公司股东的净亏损：27.82 亿元。 归属于上市公司股东的扣除非经常性损益的净亏损：34.40 亿元。 （二）每股收益：-0.18 元。 三、本期业绩预亏的主要原因 质增效。加强生产组织，提升可用飞机利用率夯实投入基本盘；精细营销把控， 推动"保价争量"稳定收益品质；严格成本管控，降低成本水平拓展效益空间； 上半年经营效益稳步改善，同比实现大幅减亏。但受市场供给不均衡、客源结构 下沉、高铁网络冲击，以及国际环境不确定性加深、全球产业链 ...

[I. Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company forecasts a net loss for the first half of 2025, with specific ranges for net loss attributable to shareholders and non-recurring net loss, pending audit [I. Performance Forecast Period](index=1&type=section&id=(I)%20Performance%20Forecast%20Period) The financial period for this performance forecast is from January 1, 2025, to June 30, 2025 - The performance forecast period is from January 1, 2025, to June 30, 2025[3](index=3&type=chunk) [II. Performance Forecast Details](index=1&type=section&id=(II)%20Performance%20Forecast%20Details) The company anticipates a net loss for the first half of 2025, with net loss attributable to shareholders projected between 1.7 billion and 2.2 billion yuan, and non-recurring net loss between 1.8 billion and 2.4 billion yuan; this forecast is unaudited 2025 Half-Year Performance Forecast Loss Range | Metric | Estimated Loss Range (Billion Yuan) | | :--- | :--- | | Net Loss Attributable to Shareholders | 1.7 - 2.2 | | Net Loss Excluding Non-Recurring Items | 1.8 - 2.4 | - This performance forecast has not been audited by a certified public accountant[3](index=3&type=chunk) [II. Prior Period Performance](index=1&type=section&id=II.%20Prior%20Period%20Performance) This section details the company's financial performance for the prior period, including net loss attributable to shareholders, non-recurring net loss, and earnings per share Prior Period Performance | Metric | Amount (Billion Yuan) | | :--- | :--- | | Net Loss Attributable to Shareholders | 2.782 | | Net Loss Excluding Non-Recurring Items | 3.440 | | Earnings Per Share | -0.18 Yuan | [III. Main Reasons for Current Period Forecasted Loss](index=2&type=section&id=III.%20Main%20Reasons%20for%20Current%20Period%20Forecasted%20Loss) The company's forecasted loss is attributed to market imbalances, shifts in customer base, high-speed rail competition, and global economic uncertainties, despite operational improvements - The company achieved significant loss reduction year-on-year in the first half through enhanced production organization, improved aircraft utilization, refined marketing control, and strict cost management[5](index=5&type=chunk) - The loss is primarily influenced by imbalanced market supply, a shift in customer demographics, impact from high-speed rail networks, increasing international uncertainties, and changes in global supply chains[5](index=5&type=chunk) [IV. Risk Warning](index=2&type=section&id=IV.%20Risk%20Warning) This section confirms the absence of uncertain factors that could impact the accuracy of the current performance forecast - There are no uncertain factors affecting the accuracy of this performance forecast[6](index=6&type=chunk) [V. Other Explanatory Matters](index=2&type=section&id=V.%20Other%20Explanatory%20Matters) This section clarifies that the forecast data is preliminary and advises investors to consider investment risks, awaiting the official half-year report - The forecast data represents preliminary figures, with definitive financial data subject to the company's official 2025 half-year report disclosure[7](index=7&type=chunk) - Investors are advised to exercise caution regarding investment risks[7](index=7&type=chunk)

中国国航（601111）公告，预计2025年半年度归属于上市公司股东的净亏损约为17亿元到22亿元。扣除 非经常性损益事项后，公司归属于上市公司股东扣除非经常性损益后的净亏损约为18亿元到24亿元。上 年同期归属于上市公司股东的净亏损27.82亿元，归属于上市公司股东的扣除非经常性损益的净亏损34.4 亿元。 ...

中国国航最新一期业绩显示，截至2025一季报，公司营业总收入400.23亿元、同比减少0.11%，归属净 利润204399.30万元，同比减少22.07%，扣非净利润212789.10万元，同比减少24.21%，流动比率0.320、 速动比率0.286、资产负债率88.89%。 金融界消息 截至2025年7月14日收盘，中国国航（601111）报收于7.48元，下跌0.13%，换手率0.53%， 成交量61.17万手，成交金额4.58亿元。 资金流向方面，今日主力资金净流入2202.41万元，占比成交额4.81%。其中，超大单净流入3495.52万 元、占成交额7.63%，大单净流出1293.11万元、占成交额2.82%，中单净流出流出56.41万元、占成交额 0.12%，小单净流出2146.00万元、占成交额4.69%。 天眼查商业履历信息显示，中国国际航空股份有限公司，成立于2006年，位于北京市，是一家以从事航 空运输业为主的企业。企业注册资本1620079.2838万人民币，实缴资本1452481.5185万人民币。公司法 定代表人为马崇贤。 通过天眼查大数据分析，中国国际航空股份有限公司共对外投资了 ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The report highlights the need for the express delivery industry to shift towards high-quality development, as the State Post Bureau opposes "involution" competition and aims to improve service quality [4] - The express delivery sector is currently experiencing a decline in per-package revenue, with major companies like Zhongtong, Yuantong, Yunda, and Shentong showing year-on-year decreases in revenue per package [4] - Jitu's Southeast Asian market has seen significant growth, with a total package volume of 7.392 billion pieces in Q2 2025, a year-on-year increase of 23.5% [5] - The airline industry is expected to benefit from macroeconomic recovery, with long-term supply-demand trends indicating potential for growth [12] - The shipping sector is anticipated to improve due to OPEC+ production increases and the Federal Reserve's interest rate cuts, with specific recommendations for companies like China Merchants Energy and COSCO Shipping [12] Summary by Sections Express Delivery - The express delivery market is facing intense competition, with major players experiencing a decline in revenue per package [4] - The report suggests that regulatory changes could help improve the situation by reducing low-cost competition and enhancing the performance of leading companies [4][12] Airline Industry - The airline sector is characterized by long-term low supply growth, but demand is expected to benefit from macroeconomic recovery [12] - Key companies to watch include China National Aviation Holding, Southern Airlines, and HNA Group [12] Shipping and Ports - The report indicates a positive outlook for oil transportation due to OPEC+ production increases and potential interest rate cuts [12] - Recommendations include focusing on companies like China Merchants Energy and COSCO Shipping for their growth potential in the shipping market [12] Road and Rail - The report notes that the Daqin Railway experienced a year-on-year decrease in freight volume in June 2025, while overall logistics operations remain stable [11][12] - Companies like Zhongyuan Expressway and Sichuan Chengyu are highlighted for their growth potential due to infrastructure developments [12]

| | | 7月11日融资持仓分布 | | | | --- | --- | --- | --- | --- | | 行业名称 | 持仓比例 | | 持仓市值 | 较20交 | | | | | (亿元) | 日前变 | | 电子 | | 14.77% | 2117.16 | 2.15% | | 非银金融 | | 11.11% | 1592.78 | 5.57% | | 计算机 | | 9.99% | 1431.31 | 6.45% | | 矢药生物 | | 9.23% | 1322.58 | 3.05% | | 汽车 | | 6.75% | 967.45 | 3.65% | | 机械设备 | 6.54% | | 936.74 | 1.07% | | 有色金属 | 5.72% | | 820.37 | 4.73% | | 国防军工 | 4.70% | | 673.66 | 4.52% | | 通信 | 4.47% | | 640.04 | 5.90% | | 银行 | 4.04% | | 578.77 | 8.18% | | 食品饮料 | 3.53% | | 506.24 | -2.85% | | 公用事业 | ...