智通财经10月9日讯（编辑 冯轶）智通财经为您带来今日港股重要公告 1）公司要闻 舜宇光学(02382.HK)：拟约19.03亿元转让上海奥来并入股歌尔光学，携手歌尔布局AI/AR光学业务。 东方海外国际(00316.HK)：前9月航线收入较去年同期减少8.3%，达约66.96亿美元。整体运载率较2024年同期下降1.5%，每个标准箱的整体平均航线收入较 去年同期减少12.4%。 赛伯乐国际控股(01020.HK)：完成收购Newsbaba LTD 100%股权。 石药集团(01093)：SYH2070注射液(双链小干扰RNA药物)在美国获临床试验批准。 迅销(06288.HK)：发布截至2025年8月31日止年度全年业绩，取得收益34005.39亿日圆，同比增长9.6%；净利润4330.09亿日圆，同比增长16.4%。 东风集团股份(00489.HK)：前9个月累计汽车销量为131.68万辆，同比下降约3.6%。 亚洲金融(00662.HK)：完成出售亚洲保险持有的香港人寿股权，涉资2.95亿港元。 金地商置(00535.HK)：前9个月累计合约销售总额约85.33亿元，同比减少39.81%。 宝龙地产(0 ...

中银航空租赁(02588)公布截至2025年9月30日止第三季度的营运交易情况，投资组合共计812架╱台自 有、代管及已订购的飞机和发动机，442架自有飞机的平均机龄为5.0年、平均剩余租期为7.8年;因公司 不再担任15架飞机的服务商，代管机队现包括17架飞机;订单簿包括343架飞机;自有及代管机队的客户 群覆盖46个国家及地区的88家航空公司;自有飞机利用率保持在100%。 2025年第三季度共执行34项交易，其中包括：承诺购买3架飞机，交付11架飞机，售出10架自有飞机， 签署10份租约承诺，发行5亿美元5.5年期债券，票面利率为每年4.25%，较5年期美国国债上浮58个基 点，债券利差创公司新低。 ...

2025年第三季度共执行34项交易，其中包括： 承诺购买3架飞机，交付11架飞机，售出10架自有飞机， 签署10份租约承诺，发行5亿美元5.5年期债券，票面利率为每年4.25%，较5年期美国国债上浮58 个基 点，债券利差创公司新低。 智通财经APP讯，中银航空租赁(02588)公布截至2025年9月30日止第三季度的营运交易情况，投资组合 共计812架╱台自有、代管及已订购的飞机和发动机，442架自有飞机的平均机龄为5.0年、平均剩余租 期为7.8年;因公司不再担任15架飞机的服务商，代管机队现包括17架飞机;订单簿包括343架飞机;自有及 代管机队的客户群覆盖46个国家及地区的88家航空公司;自有飞机利用率保持在100%。 ...

智通财经APP讯，中银航空租赁(02588)发布公告，将于2025年10月13日派发截至2025年6月30日止六个 月的中期股息每股1.1483港元。 ...

有一抹红，飘扬在五洲四海，那是永不褪色的信仰；有一份情，扎根于异国他乡，那是对祖国最深沉的 告白。 今天，就让我们一起倾听，四川国资国企人从世界各地传来的，祝福祖国母亲的赤子心声！ 四川发展（控股）有限责任公司 四川发展（控股）公司下属企业四川发展国际控股有限公司与世界500强渣打银行于2017年在国际航空 租赁产业核心区爱尔兰成立国翔国际飞机租赁有限公司，公司拟投入资本金5亿美元。2023年，渣打银 行将所持有股权出售予沙特主权财富基金（PIF）全资飞机租赁公司AviLease。 借助股东各自优势，国翔国际加快切入国际航空租赁这一高端航空金融业，"聚焦中国、面向全球"，打 造由省级政府平台直接控制的国际航空租赁产业平台，力争引领和聚集全球航空产业资源和金融资源， 推动我省航空及相关产业发展，助力我省西部金融中心、西部综合交通枢纽及四川自贸区的建设。 蜀道投资集团有限责任公司 川路桥孟加拉达卡绕城公司项目图 四川路桥于2018年与孟加拉当地企业Shamim Enterprise (Pvt.)Ltd(简称SEL)、UDC Construction Limited(简称UDC)按60%:30%:10%的股权比例组 ...

Group 1 - Air Lease is being acquired by a consortium of investment firms including Sumitomo Group, Apollo Global Management, and Brookfield Asset Management for $7.4 billion [1] - The acquisition price per share is set at $65, with a total equity value of approximately $7.4 billion, and an enterprise value of about $28.2 billion including debt [1] - Post-acquisition, Air Lease will be renamed Sumisho Air Lease and will merge with SMBC Aviation Capital, aiming to scale up to compete closely with industry leader AerCap [1]

Market Movements - As of September 3, U.S. stock index futures showed mixed results with Dow futures down 0.05%, S&P 500 futures up 0.39%, and Nasdaq futures up 0.62% [1] - European indices also saw positive movements, with Germany's DAX up 0.64%, UK's FTSE 100 up 0.52%, France's CAC 40 up 0.90%, and the Euro Stoxx 50 up 0.82% [2][3] - WTI crude oil prices fell by 1.91% to $64.34 per barrel, while Brent crude oil dropped by 1.69% to $67.97 per barrel [4] Market News - Federated Hermes expressed optimism about U.S. equities, citing strong corporate earnings and economic outlook, suggesting that recent market pullbacks present buying opportunities [5] - Deutsche Bank's CEO indicated that the global bond sell-off is not just a temporary fluctuation, predicting that yields will remain high due to political uncertainties and rising debt levels [5] Volatility and Gold Market - The VIX index surged over 11%, indicating increased market volatility as traders prepare for significant fluctuations following the Labor Day holiday and upcoming non-farm payroll data [6] - UBS analysts suggested that gold prices could reach $4,000 per ounce, driven by geopolitical uncertainties and potential interest rate declines, with current prices hovering above $3,500 [6] Company-Specific News - Google (GOOGL.US) received a favorable ruling in its online search monopoly case, allowing it to retain its Chrome browser and Android system without divestiture, while being required to share some search index data with competitors [7] - Apple (AAPL.US) is expected to launch foldable iPhones and iPads starting in 2026, with projected shipments significantly increased to 8-10 million units in 2026 and 20-25 million units in 2027 [8][9] - Nvidia (NVDA.US) denied rumors of a shortage of its H100 and H200 AI chips, asserting that supply is sufficient to meet demand [9] - Macy's (M.US) reported Q2 sales of $4.81 billion, exceeding expectations, and raised its full-year guidance for sales and earnings [9] - Kraft Heinz (KHC.US) faced backlash from major shareholder Warren Buffett over its business split plan, leading to Moody's placing the company on review for a potential downgrade [10] - Air Lease (AL.US) agreed to be acquired for $7.4 billion, indicating a trend of consolidation in the aircraft leasing industry [10]

Core Viewpoint - 中银航空租赁的1H25业绩符合预期，显示出强劲的业绩释放能力和市场需求的增长 [1][3] Financial Performance - 1H25 total revenue reached 1.24 billion USD, a year-on-year increase of 6% [1] - Taxed net profit was 342 million USD, a 20% increase compared to core net profit in 1H24 [1] - The interim dividend was set at 0.1476 USD, corresponding to a dividend payout ratio of 30% [1] Asset Side - The order book expanded significantly, with expected deliveries in 2025 projected to increase by 26% year-on-year [2] - As of the end of 1H25, the fleet size was 834 aircraft, with a 100% utilization rate for owned aircraft [2] - The average age of the fleet was 5.0 years, significantly younger than the global average of 15 years [2] - The company sold 18 owned aircraft and signed 43 new leasing commitments in 1H25 [2] - New aircraft deliveries in 1H25 totaled 24, accounting for 63% of the total expected deliveries for 2024 [2] Revenue Side - Demand in the Asia-Pacific region is leading, with a strong performance in both volume and pricing [3] - The market value of the fleet increased by 15% compared to book value, driving up leasing yields [3] - Net leasing yield rose to 7.5% in 1H25, compared to 7.0% in 1H24 [3] - The Asia-Pacific region accounted for 37.2% of the company's aircraft assets and 42.7% of rental income [3] Expenditure Side - The annualized funding cost remained stable at 4.6%, with the company maintaining the lowest spread in the industry [4] - Financial expenses accounted for 44% of total operating expenses, making them a key factor in profitability [4] Investment Analysis - Profit forecasts have been raised, with net profit estimates for 2025-2027 adjusted to 702, 739, and 763 million USD respectively [4] - The company maintains a buy rating based on improved net leasing yields [4]

Core Viewpoint - 中银航空租赁（BOCA）reported a net profit of $342 million for 1H25, a 20% year-on-year increase, aligning with Bloomberg's consensus estimate of $337 million [1] - The aviation leasing industry is experiencing a gradual recovery, with aircraft manufacturers increasing production capacity, leading to a 12% year-on-year rise in total aircraft deliveries [1] Supply and Demand - Total aircraft deliveries in 1H25 increased by 12%, with Boeing's deliveries rebounding by 53%, compensating for a 7% decline in Airbus deliveries due to engine shortages [2] - The global new aircraft delivery value is expected to reach $100 billion in 2025, the highest since 2019, and is projected to exceed $141 billion by 2027 [2] - IATA forecasts a 5.8% growth in global Revenue Passenger Kilometers (RPK) in 2025, supporting airline profitability, which is expected to reach $36 billion, up from $32 billion in 2024 [2] Capital Expenditure and Asset Growth - In the context of supply recovery, the company is actively expanding its fleet and optimizing its asset structure, with 24 aircraft deliveries in 1H25 compared to 18 in 1H24, and capital expenditure reaching $1.9 billion, a 150% year-on-year increase [2] - The company announced its largest aircraft order in March, increasing its total order backlog by over 50% to 351 aircraft, with committed capital expenditure of $20 billion [2] - As of the end of 1H25, the company owned 441 aircraft with an average age of 5 years and maintained a 100% utilization rate, indicating a healthy fleet [2] Profitability Improvement - The rental yield for operating leases increased by 50 basis points to 10.3% in 1H25, while the cost of debt remained stable at 4.6% [3] - The net lease yield (NLY) rose by 50 basis points to 7.5%, primarily due to the sale of older, low-yield aircraft and the introduction of higher-yield new models [3] - The company anticipates that the recovery in upstream capacity will facilitate smoother capital expenditure deployment, with rising rental rates expected to enhance asset yield [3] Earnings Forecast and Valuation - The company adjusted its net profit forecasts for 2025, 2026, and 2027 to $710 million, $800 million, and $830 million, respectively, reflecting increases of 0.7%, 1.1%, and 3.2% [3] - The target price has been raised to HKD 85 from HKD 82, based on a price-to-book ratio of 1.13x for 2025E [3] - The company's stock is currently trading at 0.96x 2025E PB and offers a 3.9% dividend yield, indicating potential investment value [3]

Core Viewpoint - BOC Aviation (BOCA) reported strong financial results for 1H25, with total revenue and other income increasing by 5.8% YoY to US$1,242 million, despite a significant drop in net profit due to the absence of non-recurring income from the previous year [1][2]. Financial Performance - Net profit decreased by 25.8% YoY to US$341.5 million in 1H25, primarily due to the lack of non-recurring income, which included US$175 million of write-backs related to aircraft in Russia in 1H24 [2]. - Excluding the impact of the Russia event, core net profit after tax increased by 20% YoY in 1H25 [2]. - Finance expenses rose by 2.3% YoY, with the cost of debt stabilizing at 4.6% in 1H25, unchanged from 1H24 [2]. - An interim dividend of US$0.1476 per share was declared in 1H25 [2]. Market and Operational Insights - The market values of aircraft exceeded net book value by 15% at the end of June 2025, which is favorable for BOCA's operating leased fleet [3]. - Lease rental yield increased to 10.3% in 1H25 from 9.8% in 1H24, while net lease yield rose to 7.5% from 7.0% in the same period [3]. - Core lease rental income increased by 24% YoY to US$276 million in 1H25 [3]. - Interest income from finance leases surged by 35.6% YoY to US$130.2 million, accounting for 10.5% of total revenues and other income [4]. - Net gain on the sale of aircraft increased by 8% YoY to US$60.3 million in 1H25 [4]. Fleet Utilization and Valuation - Owned aircraft utilization reached 100% at the end of June 2025, consistent with previous quarters [5]. - The average fleet age was reported at 5.0 years, with an average remaining lease term of 7.9 years [5]. - BOCA is positioned as a geared beneficiary of steady growth in the global airline industry, with a projected dividend yield of approximately 3.9% in 2025 [6]. - The target price for BOCA was increased from HK$83.84 to HK$83.9, based on a 1.1x 2025E P/B ratio [6].