每经AI快讯，中国国航(00753.HK)盘中跌近3%，截至发稿跌2.44%，报6.81港元，成交额1.32亿港元。 ...

消息面上，中国国航公布，预计公司2025年度将出现亏损，归属于上市公司股东的净亏损约为人民币13 亿元到人民币19亿元，归属于上市公司股东扣除非经常性损益后的净亏损约为人民币19亿元到人民币27 亿元。2024年归属于上市公司股东的净亏损为人民币2.37亿元，归属于上市公司股东的扣除非经常性损 益的净亏损为人民币25.40亿元。 西部证券（002673）指出，2025年Q1-Q3中国国航累计实现归母净利润18.70亿元，结合预亏公告2025 全年归母净利润在-19至-13亿之间，由此可以推算公司25Q4亏损在31.7-37.7亿元之间。25Q4较24年同期 亏损幅度扩大。根据公告2024年Q4中国国航归母净利润为-16.00亿元，由此可说明25年Q4公司归母净 利润亏损幅度扩大，原因是公司对递延所得税资产的账面价值进行复核，相应转回部分递延所得税资 产。 中国国航（601111）(00753)盘中跌近3%，截至发稿，跌2.44%，报6.81港元，成交额1.32亿港元。 ...

西部证券指出，2025年Q1-Q3中国国航累计实现归母净利润18.70亿元，结合预亏公告2025全年归母净 利润在-19至-13亿之间，由此可以推算公司25Q4亏损在31.7-37.7亿元之间。25Q4较24年同期亏损幅度扩 大。根据公告2024年Q4中国国航归母净利润为-16.00亿元，由此可说明25年Q4公司归母净利润亏损幅 度扩大，原因是公司对递延所得税资产的账面价值进行复核，相应转回部分递延所得税资产。 消息面上，中国国航公布，预计公司2025年度将出现亏损，归属于上市公司股东的净亏损约为人民币13 亿元到人民币19亿元，归属于上市公司股东扣除非经常性损益后的净亏损约为人民币19亿元到人民币27 亿元。 2024年归属于上市公司股东的净亏损为人民币2.37亿元，归属于上市公司股东的扣除非经常性损 益的净亏损为人民币25.40亿元。 智通财经APP获悉，中国国航(00753)盘中跌近3%，截至发稿，跌2.44%，报6.81港元，成交额1.32亿港 元。 ...

Group 1 - The 2026 Spring Festival travel season will start on February 2 and end on March 13, lasting for 40 days, with a total of 88,800 flights planned at Beijing Capital and Daxing airports, representing a year-on-year increase of approximately 1.67% [1] - Air China plans to increase its fleet by 25 aircraft compared to last year, executing over 70,000 passenger flights during the Spring Festival, a 10.1% increase from 2025, with an average of 1,800 flights per day, an increase of 160 flights [1] - Air China will focus on key routes between major city clusters, maintaining high operational levels and covering nearly 50 domestic routes [1] Group 2 - In the western region, Air China will add over 500 flights covering popular tourist destinations such as Lijiang, Dali, and Xishuangbanna [2] - Eastern Airlines plans to deploy 822 passenger aircraft, including 14 domestic C919 aircraft, executing 125,000 flights during the Spring Festival, a year-on-year increase of about 3.6% [4] - Southern Airlines plans to operate over 126,000 passenger flights during the Spring Festival, with approximately 13,000 additional flights across more than 260 routes [4] Group 3 - Hainan Airlines expects to operate over 33,000 flights, transporting approximately 5.516 million passengers, with increased flight frequencies on major routes and tourist destinations [5] - Hainan Airlines will expand its international route network, adding several new international destinations from Beijing and Haikou compared to last year's Spring Festival [5]

国际地区航线方面，东南亚方向航班增加较为明显。海南航空已加密重庆—曼谷航线至每日1班；重庆航 空自2月起将陆续开通曼谷、胡志明、沙巴、槟城等航线。届时，重庆—曼谷的每日航班最多可达6班。中 国国航加密重庆—首尔航线至每日1班，加密重庆—新加坡航线至每日2班，加密后该航线每日航班最多可 达5班。天津航空也计划于3月1日起将重庆—莫斯科航线加密至每周2班。 目前，重庆江北国际机场在飞国际（地区）客运航线已达38条，每周执行航班约240班，可通达西雅图、 伦敦、巴黎、罗马、布达佩斯、迪拜、新加坡、首尔、普吉、河内等全球众多城市，为广大市民春节期间 出国旅游、探亲提供便利。 重庆江北国际机场提醒广大旅客：春运期间客流量大，建议旅客朋友们预留充足时间抵达机场办理值机手 续。T3航站楼10号线出口层，即B1层办理乘机手续客流小、过检速度快，有助于节约等候时间，提升出行 效率。 2月2日，2026年春运正式开启。重庆江北国际机场发布消息，据初步统计，春运40天预计保障航班起降超 过4万架次，迎送旅客超625万人次，机场在春运期间的客流量将创新高。 重庆江北国际机场T3航站楼 据介绍，春运40天，重庆江北国际机场预计保障航班 ...

春运期间，国航9架C919国产大飞机将全部投入春运航班运行，继续执飞北京至杭州、成都、武汉、西安等航线。此外，国航已完成旗下"快线"产品的整合 升级，"国航快线"覆盖13条航线。 国际方面，国航春运期间运力投入同比增长10.1%，增投航线覆盖悉尼、奥克兰、新加坡、首尔、曼谷等17条热门航线。 北京商报讯(记者关子辰牛清妍)2月2日，记者从国航获悉，春运期间国航计划执行客运航班超过7万班次，同比增长10.1%。在册飞机数量同比增加25架，日 均安排航班约1800班次，同比增加160班次。 国内方面，国航重点聚焦京津冀、长三角、粤港澳、成渝四大城市群间的近50条骨干航线，航线范围覆盖全国，航班保持高位运行。为满足旅客暖冬出行需 求，国航在华南及海南地区持续优化运力，计划执行广深相关航线航班超7000班次，其中宽体机执飞超过3000班次。海南方向，三亚航线已全部由宽体机执 飞；在客流高峰日，海口航线也将在北京、成都等关键航线上启用宽体机。 为更好服务冰雪旅游市场，国航在东北地区运力投入同比增长15%，北京、成都、上海、杭州等地至哈尔滨的航线已陆续投入宽体机运营，每周新增座位超 1.2万个。在西部地区，国航增班超50 ...

Market Overview - The Hang Seng Index is expected to test the 27,000 point level as 2026 marks the beginning of the 15th Five-Year Plan, with expectations for policy initiatives in the first quarter focusing on expanding domestic demand and achieving technological self-reliance [1] - Despite geopolitical instability affecting risk appetite, the upgrade of AI large models has led to a surge in financing activities within the industry, supporting the AI market [1][7] - The Hang Seng Index reached a high of 27,381 points, but recent developments regarding the Federal Reserve's leadership have led to a rebound in the US dollar index, suggesting a potential decline in the Hang Seng Index [1] Sector Focus - The market is currently focused on manufacturing purchasing manager indices (PMI) from China, Japan, the Eurozone, and the US for January [2] Corporate News - Xiaomi delivered over 39,000 vehicles in January, while sales of the SU7 Ultra model dropped significantly in December [4] - China National Aviation Holdings is expected to report a loss of 1.9 billion RMB for the previous year [5] - The telecommunications sector is facing revenue and profit impacts due to adjustments in the value-added tax scope, with major telecom companies like China Mobile, China Unicom, and China Telecom indicating potential effects on their financials [10] Economic Indicators - China's manufacturing PMI fell to 49.3 in January, indicating a contraction, while the non-manufacturing PMI dropped to 49.4, the lowest in over three years [9] - The Chinese government is considering issuing special bonds to inject 200 billion RMB into leading insurance companies, marking a significant move to strengthen the sector [9] - The overall public budget revenue in China for 2025 is projected at 21.6 trillion RMB, reflecting a year-on-year decline of 1.7% [9] International Developments - OPEC+ has agreed to continue suspending production increases in March, following a similar decision in January [8] - The US PPI for final demand rose by 3% year-on-year in December, exceeding expectations, indicating inflationary pressures [8]

（王潇雨 摄影） 本报（chinatimes.net.cn）记者王潇雨 北京报道 全球民航机队规模的迅速扩张，在为飞机制造商带来丰厚订单同时，也为航空产业链带来了更多市场空 间的增长，其中一个最重要的领域就是航空售后服务市场。 在最新发布的《全球航空服务市场预测》（Global Services Forecast，下称"GSF"）中，欧洲空中客车公 司（下称"空客"）方面预测，中国的航空售后服务市场规模预计将从2025年的248亿美元增长至2044年 的638亿美元。 全球最大市场 "全球航空售后服务市场正呈现出明显的重心东移趋势，中国也将成为市场价值最大的市场，"空客中国 副总裁、空客中国客户服务负责人赵辰在1月中旬举行的一次媒体宣讲会上对包括《华夏时报》记者在 内的媒体记者表示，"中国在机场基础设施建设和空中交通管理方面持续投入，在保持高运行效率的同 时，支撑了航空交通量的不断增长。根据空中客车全球市场预测（GMF），未来20年中国预计将接收 约9570架新飞机，这将进一步强化飞机全生命周期内对各类服务的需求。" 对于飞机制造商而言，尽管受益于空中交通运输需求的增长，每年都能够获得大量新飞机订单，且手握 ...

Group 1 - The report highlights that the non-ferrous metal sector is expected to benefit from the resonance between financial attributes and industrial trends, with short-term adjustments potentially providing mid-to-long-term investment opportunities [11][12] - The report notes that the A-share market is experiencing significant internal differentiation, with a potential shift in rhythm following the spring rally, although a major level switch has not yet occurred [13][14] - The report indicates that the U.S. interest rate cut cycle is not yet over, and after the current risk factors are released, the U.S. Treasury market may return to a downward yield trend [4][18] Group 2 - The manufacturing PMI for January indicates a decline in both supply and demand indices, with the manufacturing sector's sentiment falling into contraction territory [21][22] - The report discusses the government's new policy to optimize and expand service supply, aiming to enhance service consumption and support economic growth through structural reforms [29][30] - The transportation sector is projected to gradually enter a profitability cycle, with significant growth expected in air cargo demand and advancements in low-altitude economy initiatives [34][35] Group 3 - The report emphasizes the importance of service consumption, which is expected to continue growing, supported by favorable policies and structural improvements in supply [31][32] - The logistics sector is highlighted for its rapid growth, with significant advancements in automated delivery systems and international market expansion opportunities [36] - The report suggests investment opportunities in various sectors, including logistics, aviation, and low-altitude economy, indicating a positive outlook for these industries [36][37]

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The market turnover decreased to 82.799 billion, with net inflows of 484 million in the Hong Kong Stock Connect [1] - The three major indices in Hong Kong fell collectively, with the Hang Seng Index down 2.08%, the Hang Seng China Enterprises Index down 2.47%, and the Hang Seng Tech Index down 2.1% [1][5] Sector Performance - Local real estate, software, and 5G concept sectors saw significant declines, while gold stocks performed well against the market trend [1] - Gold stocks faced pressure due to fluctuations in international gold prices, with notable declines in companies like Chifeng Jilong Gold Mining (down 14.38%) and Shandong Gold Mining (down 14.31%) [1] - Conversely, education stocks rose, with China Spring (01969.HK) surging by 22.76% [1] US Market Performance - The US stock market closed positively, with the Dow Jones Industrial Average rising 1.73%, marking a nine-month consecutive increase [2] - Notable declines were observed in companies like Salesforce (down 19.86%) and Adobe (down 16.21%), while AMD saw an increase of 10.54% [2] Future Market Outlook - The report emphasizes the importance of technology self-reliance and AI applications as key themes for future growth in the Hong Kong stock market [3] - The report suggests continued focus on sectors supported by policies for "technology self-reliance," including AI, semiconductors, and industrial software [3] - There is a recommendation to pay attention to sectors benefiting from domestic consumption expansion policies, as well as undervalued central state-owned enterprises with high dividends [3] Key Company Insights - China Railway (0390.HK) was highlighted for its strong performance, gaining 11.0% over the past week [3] - The report suggests that companies in the upstream non-ferrous metals sector may benefit from anticipated interest rate cuts by the Federal Reserve in 2026 [3] Industry Highlights - The report notes that China's shipbuilding industry continues to lead globally, with significant growth in completion and order volumes [9] - The report recommends focusing on leading companies in the shipbuilding sector, such as China Shipbuilding Industry Corporation (0317.HK) and China International Marine Containers (3899.HK) [9]