Core Viewpoint - The recent performance of Shanghai Airlines shows a mixed trend in operational metrics, with a notable increase in international travel while domestic metrics decline. The company's stock has experienced a slight decrease, and the pledging of shares by the controlling shareholder raises some attention but is deemed manageable. Group 1: Stock Performance - As of June 13, 2025, Shanghai Airlines' stock closed at 13.56 yuan, down 2.02% from the previous week [1] - The stock reached a weekly high of 14.48 yuan on June 10 and a low of 13.4 yuan on June 13 [1] - The current market capitalization is 29.819 billion yuan, ranking 7th in the aviation sector and 490th among A-shares [1] Group 2: Share Pledge Information - The controlling shareholder, Junyao Group, holds 1,020,862,080 shares, representing 46.42% of the total shares, with 81,275,000 shares pledged, accounting for 79.61% of their holdings and 36.96% of total shares [1] - Junyao Group has unpledged and re-pledged 33 million shares, with the pledge set to expire on June 11, 2026, to secure debt obligations [1] - The upcoming six months will see 12,850,000 shares maturing, which is 12.59% of Junyao Group's holdings and 5.84% of the total shares, with a corresponding financing balance of 950 million yuan [1] Group 3: Operational Data - In May 2025, the combined operational data for Shanghai Airlines and its subsidiary, Jiuyuan Airlines, showed a 0.46% year-on-year increase in passenger capacity, with domestic capacity down 11.38% and international capacity up 50.11% [2] - Passenger turnover increased by 4.97% year-on-year, with domestic turnover down 7.61% and international turnover up 66.68% [2] - The passenger load factor was 86.14%, reflecting a 3.70% year-on-year increase [2] - New routes include a round-trip service from Hangzhou to Huizhou to Haikou, operating 7 flights per week [2]