截至2025年6月30日，集团机队共181架飞机，其中包括151架自有飞机和30架代管飞机。按飞机数目 计，自有机队中89%为窄体机型，具备较高流动性且广受市场欢迎，整体资产价值受供给不足影响持续 上涨。受益于优质机队资产，除一架涉及俄罗斯航司的飞机外，集团自有机队出租率达100%。截至 2025年6月30日，集团自有机队的平均机龄为8.6年，平均剩余租期为5.7年。 飞机订单方面，作为全球少数几间可直接向飞机原始制造商(「OEMs」)采购飞机的租赁商之一，集团 在投资新一代节能机型的同时，亦持续助力国产飞机发展。截至2025年6月30日，集团拥有待交付订单 114架飞机，包括88架空客和26架中国商飞飞机。于2025年6月30日，本集团订单飞机数量已达到自有机 队规模的逾七成，能够有效支持未来发展。 格隆汇8月27日丨中国飞机租赁(01848.HK)公布中期业绩，2025年上半年，公司收入总额为24.052亿港 元，经营溢利为4.810亿港元，同比增长75.9%；公司股东应占溢利为1.405亿港元，同比增长6.7%，每 股盈利0.189港元，拟派中期息每股0.12港元。 于回顾期间，公司继续秉持审慎的机队策 ...

智通财经APP讯，中国飞机租赁(01848)发布截至2025年6月30日止六个月中期业绩，收入总额24.05亿港 元，同比减少4.86%;股东应占溢利1.41亿港元，同比增加6.66%;每股基本盈利0.189港元;拟派发中期股息 每股0.12港元。 公告称，于回顾期间，集团共向航司客户交付10架新飞机及1架二手飞机，其中多数为空客新一代节能 机型。同时，集团积极把握飞机价值上扬及降息周期带来的市场机遇，充分发挥全球交易网络优势，于 回顾期间新签署21架飞机的买卖协议╱意向书，完成19架飞机与2台发动机的出售，刷新同期飞机交易 纪录。通过飞机交易，集团在获得出售收益的同时可不断优化自身机队组合。 ...

格隆汇8月14日丨中国飞机租赁(01848.HK)宣布，本公司将于2025年8月27日(星期三)举行董事会会议， 以批准(其中包括)本公司及其附属公司截至2025年6月30日止六个月的中期业绩，以及考虑派付中期股 息(如有)。 ...

Core Viewpoint - The article discusses the recent insurance compensation received by Shanhe Intelligent (山河智能) for aircraft that could not be recovered from Russia due to geopolitical conflicts, highlighting the broader impact on the aircraft leasing industry and the financial implications for companies involved [3][5]. Group 1: Insurance Compensation - Shanhe Intelligent's subsidiary AVMAX received a total insurance compensation of $29 million, with a net amount of $22.97 million after legal fees [4][5]. - The insurance payout, after tax deductions, is expected to impact the company's net profit by approximately 126 million yuan, accounting for 172.92% of the previous year's net profit attributable to shareholders [5]. Group 2: Aircraft Leasing Challenges - AVMAX had previously fully impaired the value of the three aircraft involved, indicating that the insurance compensation is a non-recurring gain [6]. - Other companies, such as Rifa Precision Machinery (日发精机), also face challenges with aircraft stranded in Russia, having reported significant impairment losses due to the inability to recover their leased aircraft [6][8]. Group 3: Broader Industry Impact - Many Chinese leasing companies have encountered similar issues with aircraft stranded in Russia, leading to substantial impairment losses [9]. - The overall leasing business in Russia represents a small portion of the leasing companies' operations, but the rising global aviation market and supply chain issues are leading to increased rental prices for aircraft [10][11]. - Rental rates for narrow-body aircraft have increased by 20%-30% compared to 2019, with expectations of continued growth in 2025 due to ongoing production delays from manufacturers [11][13].

公告称，将予出售的资产包括由本集团拥有的六架连租约飞机，分别为四架空客 A320neo 飞机、一架 空客 A321neo 飞机及一架空客 A320ceo 飞机; 及由本集团管理的两架连租约飞机。 智通财经APP讯，中国飞机租赁(01848)发布公告，为提升资本利用率及追求长期可持续增长，于2025年 7月31日(交易时段后)，本公司的全资附属特殊目的实体(卖方)与独立第三方(买方)就出售八架连租约飞 机订立《飞机组合及资产买卖协议》，其中包括由本集团拥有的六架飞机以及由本集团管理的两架飞 机。出售事项预期于2025年10月底前完成。 ...

Core Viewpoint - Bohai Leasing has been awarded the "Carbon Road Practitioner Award" for its outstanding practices in carbon reduction, reflecting its commitment to integrating economic efficiency with social responsibility in the ESG domain [1][4]. Group 1: ESG Recognition - The award is established by Securities Star in collaboration with Miaoying Technology and Yingke Law Firm, aimed at recognizing companies that excel in environmental practices [1]. - Bohai Leasing's achievement is part of a broader initiative to promote sustainable development and environmental responsibility within the industry [4]. Group 2: Carbon Reduction Strategies - Bohai Leasing, as the world's second-largest aircraft leasing company, prioritizes fleet optimization as a core strategy for carbon reduction, committing to reduce aviation emissions and achieve decarbonization in air travel [4]. - By the end of 2024, the proportion of energy-efficient aircraft in its subsidiary Avolon's fleet reached 64%, an increase of 4 percentage points from 2023 [4]. Group 3: Future-Oriented Initiatives - The company is actively pursuing low-emission flight commercialization and has partnered with Airbus on the ZEROe project to explore hydrogen aviation [4]. - Avolon signed an intention to cooperate with Air New Zealand on the industry's first CTOL electric cargo aircraft leasing, supporting the commercialization of clean technology aircraft [4]. Group 4: Aircraft Retirement and Recycling - Bohai Leasing is exploring resource recycling models to address environmental challenges associated with aircraft retirement, including extending the lifespan of certain aircraft through conversion from passenger to cargo use [4]. - Avolon, as a member of the Aircraft Fleet Recycling Association (AFRA), is committed to sustainable practices in aircraft dismantling and management, using only AFRA-approved providers [5]. Group 5: Systematic Carbon Reduction Approach - The company's carbon reduction journey illustrates the unique value of leasing firms in climate action, guiding green upgrades in the industry through asset allocation and forward-looking investments [5]. - The recognition received is a result of a systematic carbon reduction strategy, transforming environmental commitments into measurable fleet data, technological collaborations, and recycling projects [5].

Core Viewpoint - Bohai Leasing's subsidiary Avolon has signed a contract with Airbus to purchase 15 A330NEO and 75 A321NEO aircraft, with potential additional purchases bringing the total to 100 A321NEO and 30 A330NEO, valued at approximately $21.842 billion based on 2018 list prices [1][2] Group 1: Aircraft Purchase Details - The aircraft procurement includes 15 A330NEO and 75 A321NEO, with an option to purchase an additional 25 A321NEO [1] - If all options are exercised, the total procurement could reach 100 A321NEO and 30 A330NEO, with a total value of about $21.842 billion [1] - The actual purchase price will be lower than the list price due to discounts, which is standard in the global aviation industry [1] Group 2: Financial and Operational Capacity - Avolon expects to fund the aircraft purchases through its own funds, self-raised funds, and future operating cash flow [1] - As of the end of Q2 2025, Avolon has $8.8 billion in non-restricted cash, aircraft sale contracts, and available loan capacity, indicating strong liquidity [1] Group 3: Fleet Composition and Strategy - Avolon's fleet consists of 1,076 aircraft, including 599 owned, 35 managed, and 442 on order, with a nearly 100% utilization rate [2] - The introduction of new aircraft is expected to enhance the technological advancement and market competitiveness of Avolon's fleet [2] - Avolon is simultaneously optimizing its existing assets by selling 13 aircraft for approximately $570 million, indicating a strategy of upgrading its fleet [2][3] Group 4: Aircraft Sale Details - The sale includes 10 narrow-body and 3 wide-body aircraft, with an average age of 10.1 years and an average remaining lease term of 5.8 years [3] - The transaction involves both direct ownership transfer and trust benefit rights transfer for the aircraft [3] - The sale of older CEO series aircraft contrasts with the procurement of new NEO series aircraft, reflecting a "replace old with new" fleet upgrade strategy [3]

Group 1 - The U.S. "GENIUS Act" signed by Trump on July 18 establishes the first federal regulatory framework for stablecoins, promoting global compliance in the stablecoin sector [1] - Major stablecoin issuers, cross-border payment institutions, and companies involved in Real World Assets (RWA) are expected to benefit significantly from this regulatory development [1] - Hong Kong and Singapore have introduced supportive regulatory frameworks for stablecoin development, providing new compliance pathways for cross-border fintech platforms [1] Group 2 - Leading brokerage firms like Futu Holdings and Tiger Brokers possess advantages in user base, technological capabilities, and payment channel development, which may enhance their international user expansion and revenue diversification [1] - Since Q2 2024, the rapid decline in short- to medium-term interest rates has led to an increase in existing bond prices and improved yield opportunities for new bond subscriptions and market-making transactions [1] - Brokerage firms are extending duration in the current interest rate environment, which is expected to yield significant valuation gains, with fixed income business becoming a key driver of brokerage mid-year performance, potentially exceeding expectations for some companies [1] Group 3 - The global leading aircraft manufacturers are experiencing extended order delivery cycles, resulting in a surge in demand for aircraft leasing [2] - Leasing companies with available aircraft fleets are seeing increased bargaining power and rental income, entering a high prosperity cycle driven by supply-demand mismatches [2] - Top leasing firms are leveraging flexible financing and a global customer network to quickly capture excess returns, leading to significant increases in asset yield and Return on Equity (ROE) [2]

Core Viewpoint - The company, SANY Heavy Industry, is intensifying its efforts in the international market by acquiring 16 DHC-8-300 aircraft from Qantas Airways for a total price of $51.14 million, aiming to capitalize on the recovery of the global aviation industry and the growth of the regional aviation market [1][2]. Acquisition Details - The acquisition involves 16 DHC-8-300 turboprop aircraft, with a total price of $51.14 million excluding tax, and $56.26 million including tax, which translates to over 400 million RMB at the current exchange rate [2]. - The aircraft will be delivered in batches by December 31, 2025, at designated airports in Australia [3]. - The payment structure includes a 15% deposit and 85% to be paid upon delivery [2][3]. Strategic Rationale - The acquisition is aimed at enhancing the company's competitiveness in the global regional aviation leasing market, with a focus on short-haul routes in the Asia-Pacific and North American markets [1][3]. - The company plans to introduce new generation environmentally friendly aircraft to meet the demand for short-haul routes in emerging markets [1][3]. Market Context - The global aviation industry is gradually recovering, with a sustained growth in the regional aviation market driven by increasing middle-class demand in emerging markets and environmental policies promoting turboprop aircraft [5]. - The current supply of aircraft is tight due to production constraints and aging fleets, which has increased the demand for aircraft leasing and purchases [5]. Business Performance - The aviation segment's revenue share has been recovering, reaching 14.24% in 2024, up from a low of 5.41% in 2021 [7]. - The company aims to expand its aviation business by enhancing its fleet and diversifying its operations, including aircraft leasing, maintenance, and parts supply [7][8]. International Expansion - Since acquiring Avmax in 2016, the company has seen a significant increase in its overseas revenue share, which exceeded 60% in 2024 [8]. - The company plans to maintain growth in North America and Europe while expanding into emerging markets in Africa and Latin America [8].

Core Viewpoint - The company Rifa Precision Machinery (002520.SZ) is facing significant financial losses due to the operational crises of its overseas subsidiaries, leading to a projected net profit loss of 223 million to 333 million yuan for the first half of 2025, representing an increase in losses of 855.45% to 1323.55% year-on-year [1]. Group 1: Financial Performance - Rifa Precision Machinery's revenue has been declining since 2022, with a reported revenue of 1.804 billion yuan in 2024, down 13.4% year-on-year, and a net profit loss of 675 million yuan [3]. - Cumulatively, the company has incurred losses of approximately 3.108 billion yuan over the past three years [3]. Group 2: Overseas Subsidiaries Issues - The financial losses are primarily attributed to two overseas subsidiaries: Airwork and MCM. Airwork has been taken over by a syndicate due to ongoing operational losses, while MCM has initiated bankruptcy protection due to liquidity crises [1][2]. - Airwork's aircraft leasing business has significantly contracted, leading to a notable decline in revenue and profits compared to the previous year [1][2]. - MCM's financial situation has deteriorated, with its net assets turning negative by March 2025, amounting to -57.33 million yuan [2]. Group 3: Acquisition and Goodwill Impairment - The company has faced repercussions from high-premium acquisitions, particularly the acquisition of Airwork for 1.335 billion yuan, which resulted in a goodwill of 668 million yuan [4]. - MCM was acquired for a total of 1.104 million euros for 80% equity, leading to a goodwill of 26.256 million yuan, which has since been fully impaired due to continuous losses [5][6][7]. - The company has been involved in legal disputes regarding performance guarantees related to these acquisitions, with significant financial implications [5].