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]

Core Viewpoint - Shanghai Juneyao Airlines Co., Ltd. reported operational data for May 2025, highlighting significant changes in passenger traffic and capacity across domestic, international, and regional routes, with a notable increase in international operations [1][2]. Operational Performance - Domestic passenger capacity decreased by 11.38%, while international capacity increased by 50.11%, and regional capacity fell by 34.91% [1]. - Passenger turnover (measured in revenue passenger kilometers) rose by 4.97% year-on-year, with domestic turnover down by 7.61%, international up by 66.68%, and regional down by 28.46% [1]. - The overall passenger load factor was 86.14%, an increase of 1.46% year-on-year [1]. Capacity Metrics - Available ton kilometers (ATK) for domestic routes decreased by 12.97% to 37,756.43 million ton kilometers, while international routes saw a 64.45% increase to 20,548.55 million ton kilometers [1]. - Available seat kilometers (ASK) for domestic routes fell by 11.38% to 332,689.08 million seat kilometers, while international routes increased by 50.11% to 139,659.43 million seat kilometers [1]. - Available freight ton kilometers (AFTK) for domestic routes decreased by 22.25% to 7,816.48 million ton kilometers, while international routes increased by 91.98% to 7,979.26 million ton kilometers [1]. Fleet Information - As of May 31, 2025, the company operated 93 A320 series aircraft and 9 Boeing 787 series aircraft, while its subsidiary, Juneyao Airlines, operated 27 Boeing 737 series aircraft [3]. - The fleet includes 34 A320 series aircraft purchased, 5 Boeing 787 series aircraft purchased, and 24 A320 series aircraft under financial leasing [3][5].

Core Viewpoint - The Japanese Ministry of Transport has stated that there are currently no plans to ground the Boeing 787 series aircraft following the recent crash incident involving Air India [1] Group 1 - The Japanese Ministry of Transport is monitoring the situation but has not indicated any immediate safety concerns regarding the Boeing 787 series [1]

Core Viewpoint - The Japanese Ministry of Transport has ordered domestic airlines to inspect Boeing 787 series aircraft as a safety measure following an incident involving Air India [1] Group 1 - The inspection directive is a response to a recent crash incident involving Air India, indicating heightened safety concerns within the aviation industry [1] - This action reflects the ongoing scrutiny and regulatory measures that airlines and aircraft manufacturers face in ensuring passenger safety [1]