责任编辑：张恒星 【澳航系统被"黑" 数百万客户数据遭泄露】 澳大利亚航空公司12日披露，先前遭黑客窃取的该公司570 万客户的隐私数据已被泄露于网络。澳航称，它正在配合网络安全专家调查具体哪些数据被泄露；同时 该公司总部所在的新南威尔士州最高法院已签发禁令，"防止被窃数据被任何人获取、观看、发布、使 用、传输或出版"。（新华社） ...

达美航空首席执行官埃德·巴斯蒂安。图片来源：Andrew Harnik—Getty Images 达美航空（Delta Air Lines）2025年第三季度财务业绩表现强劲，营收创下纪录并超出盈利预期，这主 要得益于高端及商务旅行需求的持续坚挺。 首席执行官埃德·巴斯蒂安对未来数月表示乐观，预计全年调整后每股收益（EPS）将达到约6美元，处 于此前指引区间的上限。展望2025年之后的未来，公司认为其战略定位有助于提高利润率 、增加 营收 并把握高端旅行趋势。这家美国最盈利航空公司的业绩凸显出乘客偏好明显向高端旅行倾斜。 达美航空预计，长期被视为奢侈品的高端舱位销售额将在公司历史上首次超越传统主舱，且这一里程碑 将在2026年实现，比此前预期整整提前一年。达美航空总裁格伦·豪恩斯坦此前曾预测高端舱位销售额 将在2027年超越主舱。在后续的分析师电话会议上，当被问及这一预测以及当前趋势是否意味着2026年 即可实现时，豪恩斯坦给出了肯定答复："我认为你会看到。" 主舱需求的"转折点" 在业绩电话会议上，豪恩斯坦与首席执行官埃德·巴斯蒂安均谈及他们眼中的主舱需求"转折点"：本季 度高端舱位（含头等舱和舒适经济舱） ...

中证报中证网讯(记者王婧涵)10月11日，记者从中国航协了解到，第三届CATA航空大会将于10月24日 至10月26日在北京首都国际会展中心举办。大会以"安全护航两翼齐飞创新驱动融合发展"为主题，延 续"一会一展"模式，包括开幕式、行业论坛和专业展览三大单元，共设1个主论坛和8个分论坛，围绕航 空安全、发展新质生产力、民航绿色发展、民航科技创新、民航财经、通航发展、夯实低空安全运营基 础与未来发展、"数"说低空——打造低空经济数字化商务新生态等热点话题展开探讨。 其中，特别设立的民航科教专区将呈现民航教育与科研的创新力量，"航空美食街"吸引了近50家航食企 业及供应商参展，致力于展现航食领域的新理念、新产品与新服务。展览将汇聚产业链各环节的领先企 业，通过实物、模型、多媒体等多种形式，为观众带来沉浸式的航空科技与文化体验，促进供需对接与 产业协作。 中国航协相关负责人介绍，大会的专业展览板块设置了运输航空、航空制造、航空金融、通用航空与低 空经济发展等多个主题展区，行业内外观众将了解到航空业全产业链的最新发展成果与未来趋势。 ...

Group 1 - The Ministry of Commerce and the General Administration of Customs announced export controls on superhard materials, certain rare earth equipment and raw materials, lithium batteries, and artificial graphite anode materials [2] - The State Council issued the "Electronic Seal Management Measures" to regulate the management and application of electronic seals for various organizations [3] - The National Development and Reform Commission and the State Administration for Market Regulation released measures to combat price disorder and maintain a good market price order [4] Group 2 - The Ministry of Industry and Information Technology reported that small and medium-sized enterprises in China showed stable economic performance with an increase in value-added of 7.6% year-on-year, outperforming large enterprises by 3.3 percentage points [5] - The latest data indicates that specialized and innovative small and medium-sized enterprises, referred to as "little giants," experienced a value-added growth of 8.7% [5] Group 3 - Silver prices in London reached $50 per ounce for the first time in history [6] - A ceasefire agreement in Gaza officially took effect, with negotiations facilitated by Egypt and Qatar [6] Group 4 - Companies such as Seres signed a business cooperation framework agreement with Volcano Engine [8] - Tongling Nonferrous Metals reported significant price increases for its main products, copper and gold, while copper concentrate processing fees remain low [8] - Ganfeng Lithium is in the process of introducing strategic investors for its energy storage segment, but no substantial agreements have been formed yet [8] Group 5 - Guandong Mingzhu expects a net profit of 215 million to 263 million yuan for the first three quarters, representing a year-on-year growth of 858.45% to 1071.44% [9] - TCL Technology completed the acquisition of 80% of LGDCA and 100% of LGDGZ [11]

Key Points - The Chinese government has announced export controls on superhard materials, certain rare earth equipment, lithium batteries, and artificial graphite anode materials [2] - The Ministry of Commerce has reactivated the "unreliable entity list" to sanction foreign entities involved in military technology cooperation with Taiwan, emphasizing the protection of national security [3] - The State Council has issued regulations on electronic seal management, applicable to various organizations [3] - The National Development and Reform Commission has introduced measures to combat price disorder in the market, including warnings, regulatory enforcement, and credit-based penalties [4] - The Ministry of Industry and Information Technology has updated the technical requirements for electric vehicles eligible for tax exemptions starting January 1, 2026 [5] - Data shows that small and medium-sized enterprises in China have maintained stable economic performance, with a 7.6% year-on-year increase in value added for industrial SMEs [5] - Silver prices in London have reached a historic high of $50 per ounce [6] - A ceasefire agreement in Gaza has been reached, with negotiations facilitated by Egypt and Qatar [6] Company News - Seres has signed a business cooperation framework agreement with Volcano Engine [8] - Tongling Nonferrous Metals has seen significant price increases in its main products, copper and gold [8] - Ganfeng Lithium has not yet formed any substantial agreements with strategic investors in its energy storage sector [8] - Zhonghuan Environmental Protection plans to change its controlling shareholder [9] - Guangdong Mingzhu expects a net profit of 215 million to 263 million yuan for the first three quarters, a year-on-year increase of 858.45% to 1071.44% [9] - TCL Technology has completed the acquisition of 80% of LGDCA and 100% of LGDGZ [9] - Sunshine Power has submitted an application for H-share listing on the Hong Kong Stock Exchange [9] Industry Insights - Guotai Junan believes that the Chinese aviation industry is entering a "super cycle," with expectations for significant profit growth as supply and demand recover [10] - Zhongyuan Securities suggests a balanced allocation between growth and value styles in investment strategies, focusing on TMT, pharmaceuticals, and securities sectors [11]

Core Viewpoint - The report emphasizes the long-term potential of the Chinese aviation industry, highlighting that the market has achieved price liberalization and that fleet growth has significantly slowed. It anticipates a substantial and sustainable increase in profitability as supply and demand recover, with a potential "super cycle" beginning in 2026 if commercial demand remains strong [1]. Group 1: Current Market Trends - The demand for travel during the National Day and Mid-Autumn Festival holidays in 2025 is expected to be robust, with a daily average increase of 6% in cross-regional personnel flow compared to the same period in 2024. Domestic air passenger volume is projected to grow over 3% year-on-year, while international routes may see over a 10% increase [1]. - Despite a slight increase in domestic oil-inclusive ticket prices, the high passenger load factor of 88-90% during the holiday period has helped maintain ticket prices, contrary to market expectations [1]. Group 2: Q3 Performance Outlook - The aviation industry is expected to show resilience in profitability, with preliminary estimates indicating a slight year-on-year increase in earnings for Q3 2023, despite a nearly 4% decline in domestic oil-inclusive ticket prices in July and August [2]. - The recovery in commercial demand and the impact of significant meetings in October are anticipated to drive an increase in passenger load factors and a near 2% rise in domestic oil-inclusive ticket prices in September [2]. Group 3: Future Profitability Drivers - The recovery of commercial demand is crucial for the aviation industry's profitability, with a notable increase in passenger load factors over the past year. If commercial demand continues to recover, the profitability of the industry is expected to rise significantly by 2026 [3]. - The Chinese aviation sector, primarily led by state-owned enterprises, is expected to benefit from regulatory measures that control flight schedule growth and low-price competition, which will support profitability recovery in the short to medium term [3].

（原标题：韩各界对中韩签证互免时代充满期待） 航空业率先行动。大韩航空和韩亚航空大幅增加中国航班，恢复昆明、成都、大连、长沙、长春等 主要航线，提升整体运力。济州航空、真航空等廉价航空公司也加密中小城市航线，并新开通上海、桂 林等航线。免税行业亦借机复苏，新世界、乐天和新罗免税店分别与中国多家企业洽谈合作，期待中国 游客带动销售。 韩国《亚洲日报》9月25日报道，韩国政府宣布自9月29日至明年6月30日对中国团体游客实施临时 免签政策，以刺激入境需求和地方经济。该举措被视为对中国去年11月实施对韩免签政策的积极回应。 随着政策落地，韩国各行业加紧准备迎接中国游客。 ...

航空 - 重磅专家交流：国庆中秋总结及后市展望 20251009 9 月份航空市场表现如何？ 摘要 2025 年国庆假期国内旅客量同比增长 3.7%，国际和地区旅客量增长 12.7%，客座率达 89%，部分航线超 90%，国内航线接近 92%，显示 航空需求旺盛。 9 月离港旅客量预计约 6,300 万人次，同比增长 4%，较 2019 年增长 12.9%。国内旅客量增长 2.8%，国际和地区旅客量增长 12.7%，客座 率同比上升 2.7 个百分点至 86.6%。 国庆期间航班增幅仅 2.5%，低于旅客量增幅 4%，9 月航班增幅甚至不 到 2%，表明运力投入不足，高负荷运营提升行业效率，支撑票价和盈 利能力。 国际航线增长趋于稳定，印度市场或成新增长点，但进展不明朗。中国 航空公司预计可占印度市场 30%-40%份额，规模约 100 万人次。 9 月工商旅客数量创历史新高，占比达 0.596，接近 0.6，与去年持平， 为今年最高水平，约为 3,310 万人次，主要受会展活动、节前拜访及长 假提前出行影响。 Q&A 今年国庆中秋假期的航空运输表现如何？ 今年（2025 年）的国庆中秋假期为期 8 天，比去 ...

国际航运公司反而加快向中国下新订单》。 倒计时！离10月14日还有6天，美国对中国拥有、运营和中国制造的停靠美国港口的船舶征收附加费的 政策即将生效，中国迅速采取得力措施进行反制，取得了不错成效，详见笔者《中国迅速亮剑打七寸！ 两记重拳精准回击美国制裁中国造船运输业》、《美国无力一手遮天！——美国强力打压中国造船业， 一、前期反击效果：目前，第一记重拳，中国对3家美国涉足航母、核潜艇等顶尖军工造船企业列入管 制管控名单，停止供应高精度数控机床、特种焊接材料、维修特钢，让美国本来就紧张的军舰的建造及 航母维修雪上加霜。 第二记重拳：既然美国借口"国内法"优于WTO世贸规则，启动对中国极限打压，那么，中国也从法理 上进行了完备，对《中国国际海运条例》进行了修改，明确规定，任何国家或地区对涉中国船舶、海上 运输采取歧视性措施，中国可根据实际情况采取必要的反制措施，明确告诉美国及其追随国，我们会依 法对等制裁。 反击初步显效，美国12个州已起诉特朗普政府"越权征税"；零售商、农业团体强烈反对，据说有389个 在美企业、机构和个人提出参加听证会，其中持反对意见占比高达90%。美国这做法标准是伤敌一千自 损一千五的做法。 ...

对旅游业最直观的冲击体现在全美范围内的航班延误现象，这主要源于空中交通管制人员短缺。统计数 据显示，周日累计有5233架次航班延误，周一增至6154架次，周二是3829架次，截至周三下午2点10分 至少已有1924架次。这些延误通过多种方式导致旅游经济活动萎缩。 本次停摆始于10月1日，起因是国会就2026财年预算案僵持不下，争议焦点涉及支出水平、《平价医疗 法案》医保补贴以及特朗普政府推行的医疗补助削减计划是否延续。 智通财经APP获悉，美国旅游协会估计，自政府停摆开始以来，旅游业已损失超过11亿美元的消费支 出。 美国旅游协会首席执行官杰夫·弗里曼表示，停摆正在造成真实且不可逆的损失。他指出："旅游业维系 着美国的运转。当旅行受阻、服务中断时，连锁反应将波及全美各个角落。" 共和党提出的重启政府拨款法案需在参议院获得60票才能克服阻挠议事程序。尽管宾夕法尼亚州议员约 翰·费特曼、内华达州议员凯瑟琳·科尔特斯·马斯托和缅因州议员安格斯·金打破党派界限与共和党共同投 票，但共和党参议员兰德·保罗却对党内提出的法案投下反对票。 展望未来，航空业财报季将于10月9日达美航空(DAL.US)公布业绩时正式开启。 ...