Core Viewpoint - The company Shanhai Intelligent (山河智能) has received an insurance compensation of approximately 164 million RMB due to the inability to recall aircraft leased to Russian clients, highlighting the ongoing challenges faced by the aviation leasing industry in the context of geopolitical tensions [1][2]. Company Summary - Shanhai Intelligent's subsidiary Avmax Group Inc. (AVMAX) has been unable to recover three aircraft leased to Russian clients since February 2022, despite multiple attempts [2]. - AVMAX has reached an agreement with the insurance provider for a compensation of 29 million USD, with a net payout of approximately 22.97 million USD, equivalent to about 164 million RMB after currency conversion [2]. - The insurance compensation represents a non-recurring gain for AVMAX, as the company had previously fully impaired the value of the leased aircraft [2]. Industry Summary - Several domestic aviation leasing companies, including Zhongyin Aviation Leasing and Guoyin Financial Leasing, have also faced similar issues with aircraft stranded in Russia, leading to significant financial losses and insurance claims [4][5]. - Zhongyin Aviation Leasing terminated leases for 18 aircraft with Russian airlines, resulting in a 791 million USD asset impairment, and has since received approximately 258 million USD in insurance claims for 11 of the stranded aircraft [4]. - Guoyin Financial Leasing reported a total impairment loss of 2.414 billion RMB for 9 aircraft stranded in Russia and has received insurance compensation totaling 1.562 billion RMB for 5 of those aircraft [5]. - Bohai Leasing has also disclosed a 298 million USD impairment due to 10 aircraft remaining in Russia, with a subsequent settlement of approximately 177 million USD received [6]. - Some companies, like Airwork Holdings Limited, have resorted to legal action against insurance providers due to unresolved compensation claims for aircraft that remain in Russia [7].

Core Viewpoint - The article discusses the challenges faced by aircraft leasing companies in recovering leased planes from Russian clients due to ongoing geopolitical tensions, highlighting the financial implications and insurance claims associated with these situations [2][3][4]. Summary by Sections Aircraft Leasing and Insurance Claims - Shanhe Intelligent's subsidiary, Avmax Group Inc. (AVMAX), has been unable to recover three leased aircraft from Russian clients since February 2022 despite multiple attempts [3][4]. - AVMAX has reached an agreement with its insurance provider for a compensation of $29 million, with a net payout of approximately $22.97 million, equivalent to about RMB 164 million after currency conversion [4]. Financial Impact - The insurance payout is classified as a non-recurring gain, as AVMAX had previously fully impaired the value of the aircraft [5]. - The net profit impact from this insurance compensation is estimated at RMB 126 million, representing 172.92% of the company's audited net profit from the previous year [4]. Industry Context - Other domestic aircraft leasing companies, such as Bank of China Aviation Leasing and Guoyin Financial Leasing, have also faced similar challenges with aircraft stranded in Russia, leading to significant asset impairments and insurance claims [8][9]. - For instance, Bank of China Aviation Leasing reported a $791 million asset impairment and received approximately $258 million in insurance compensation for 11 aircraft [8]. - Guoyin Financial Leasing has successfully recovered some aircraft and received a total of RMB 1.562 billion in insurance compensation for five aircraft leased to Russian airlines [9]. Legal Actions - Some companies, like Airwork Holdings Limited, have resorted to legal action against insurance providers due to disagreements over compensation for aircraft that remain in Russia [11][12]. - Airwork has attempted to recover five aircraft but has only succeeded in retrieving one, leading to litigation as a means to resolve the insurance claim disputes [12].