Core Viewpoint - HNA Group announced the introduction of new aircraft and reported significant growth in passenger and cargo metrics for October 2025 [1] Aircraft Fleet Expansion - The company will introduce 1 A330NEO, 1 A321NEO, and 2 737-8MAX aircraft by October 2025 [1] - By the end of October 2025, the total operational fleet will reach 358 aircraft [1] Passenger Metrics - Passenger capacity (measured in available seat kilometers) increased by 6.81% year-on-year in October 2025 [1] - Revenue passenger kilometers grew by 7.33% year-on-year [1] - The number of passengers transported rose by 3.59% year-on-year [1] Cargo Metrics - Cargo and mail revenue ton kilometers increased by 25.37% year-on-year [1] - Cargo and mail volume grew by 20.07% year-on-year [1] - The cargo and mail load factor improved by 4.37 percentage points [1]

Core Points - China National Airlines' stock price increased by 2.05% to 8.47 CNY per share as of 09:51 on November 10, with a total market capitalization of 147.79 billion CNY [1] - The company reported a year-to-date stock price increase of 7.08%, with a 7.76% increase over the last five trading days and a 16.35% increase over the last 60 days [1] - For the first nine months of 2025, the company achieved a revenue of 129.83 billion CNY, a year-on-year growth of 1.31%, and a net profit attributable to shareholders of 1.87 billion CNY, reflecting a 37.31% increase [2] Financial Performance - The company has cumulatively distributed dividends of 13.32 billion CNY since its A-share listing, with no dividends distributed in the last three years [3] - As of September 30, 2025, the number of shareholders decreased by 0.12% to 129,100, with an average of 0 shares per shareholder [2][3] Shareholding Structure - The top ten circulating shareholders include China Securities Finance Corporation, holding 311 million shares, and Hong Kong Central Clearing Limited, holding 156 million shares, which decreased by 123 million shares compared to the previous period [3] - Industrial Bank Co., Ltd. Convertible Bond (003401) is a new entrant among the top ten shareholders, holding 65.22 million shares [3]

Core Viewpoint - China National Airlines (SH 601111) announced a plan to issue A-shares to specific entities, aiming to raise up to RMB 20 billion for debt repayment and working capital enhancement [1]. Group 1: Share Issuance Details - The board meeting held on October 30, 2025, approved the issuance of A-shares to specific entities, namely AVIC Group and AVIC Holdings [1]. - The total number of A-shares to be issued will not exceed approximately 3.044 billion shares, representing up to 30% of the company's total share capital before the issuance [1]. - The pricing for the shares will be set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date or the higher of the latest audited net asset value per share [1]. Group 2: Financial Utilization - The funds raised from this issuance will be used entirely for debt repayment and to supplement working capital after deducting issuance costs [1]. Group 3: Revenue Composition - For the first half of 2025, the revenue composition of China National Airlines was as follows: passenger transport accounted for 90.64%, other services for 4.93%, and air cargo and mail transport for 4.43% [1]. Group 4: Market Capitalization - As of the report date, the market capitalization of China National Airlines was RMB 149.2 billion [2].

Core Viewpoint - China National Aviation Holdings Company (Air China) has shown a positive stock performance with a year-to-date increase of 9.23% and a market capitalization of 150.75 billion yuan as of October 28 [1]. Group 1: Stock Performance - As of October 28, Air China's stock price increased by 2.13% to 8.64 yuan per share, with a trading volume of 92.62 million yuan and a turnover rate of 0.09% [1]. - The stock has experienced a 1.65% increase over the last five trading days, a 9.64% increase over the last 20 days, and a 14.44% increase over the last 60 days [1]. Group 2: Financial Performance - For the first half of 2025, Air China reported operating revenue of 80.76 billion yuan, representing a year-on-year growth of 1.56%, while the net profit attributable to shareholders was -1.81 billion yuan, an increase of 35.11% year-on-year [2]. - The company has cumulatively distributed dividends of 13.32 billion yuan since its A-share listing, with no dividends distributed in the last three years [3]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders for Air China was 129,200, a decrease of 14.55% from the previous period [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 279 million shares, an increase of 35.08 million shares from the previous period [3].

Core Viewpoint - China National Airlines announced the resignation of Chief Engineer Xiao Peng due to age, effective immediately [1] Financial Performance - For the first half of 2025, the revenue composition of China National Airlines is as follows: passenger air transport accounts for 90.64%, other services account for 4.93%, and air cargo and mail transport account for 4.43% [1] - As of the report date, the market capitalization of China National Airlines is 149.7 billion yuan [1]

Core Viewpoint - HNA Group announced the introduction of one A321NEO aircraft and the retirement of one B737-800 aircraft by September 2025, resulting in a total fleet of 354 aircraft by the end of September 2025 [1] Operational Performance - Passenger capacity (measured in available seat kilometers) increased by 5.84% year-on-year as of September 2025 [1] - Revenue passenger kilometers grew by 7.04% year-on-year [1] - Passenger traffic volume rose by 2.53% year-on-year [1] - Load factor improved by 0.96 percentage points [1] Cargo Performance - Cargo and mail revenue ton kilometers increased by 23.42% year-on-year [1] - Cargo and mail volume grew by 15.96% year-on-year [1] - Cargo and mail load factor improved by 10.72 percentage points [1] New Routes - New route from Chongqing to Haikou to Auckland launched on September 13, operating two flights per week [1] - New route from Changchun to Haikou to Singapore launched on September 21, operating four flights per week [1] - New route from Haikou to Jakarta launched on September 26, operating four flights per week [1]

海南航空控股股份有限公司 2025 年 9 月主要运营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 临时公告 证券代码：600221、900945 证券简称：海航控股、海控 B 股 编号：临 2025-094 2025 年 9 月，海南航空控股股份有限公司及所属子公司（以下简称"本集团"） 合并主要运营数据如下： | 载运量 | 年 2025 9 | 月 | 年累计 2025 | | | --- | --- | --- | --- | --- | | 数值 | | 同比变动（%） | 数值 | 同比变动（%） | | 收入客公里（RPK）（百万） | | | | | | 国内 | 8828.98 | 3.48 | 82190.58 | 2.51 | | 地区 | 24.82 | 2.29 | 224.88 | 38.50 | | 国际 | 2294.39 | 23.47 | 19755.12 | 47.79 | | 合计 | 11148.19 | 7.04 | 102170.59 | 9.03 | | 收入吨公里（ ...

Core Viewpoint - China International Airlines (Air China) experienced a stock price increase of 5.17%, reaching 8.13 CNY per share, with a trading volume of 709 million CNY and a turnover rate of 0.77%, resulting in a total market capitalization of 141.856 billion CNY [1] Group 1: Company Overview - Air China is headquartered in Beijing and was established on March 27, 2006, with its listing date on August 18, 2006 [1] - The company's main business includes air passenger transport and air cargo and mail services, with revenue composition as follows: air passenger transport 90.64%, other services 4.93%, and air cargo and mail services 4.43% [1] Group 2: Fund Holdings - In terms of fund holdings, Invesco Great Wall Fund has a significant position in Air China, with its Invesco Great Wall Rui Cheng Mixed A Fund (004707) increasing its holdings by 343,700 shares in the second quarter, totaling 2.5309 million shares, which accounts for 3.48% of the fund's net value, ranking it as the seventh-largest holding [2] - The Invesco Great Wall Rui Cheng Mixed A Fund was established on November 10, 2017, with a current size of 486 million CNY and has achieved a year-to-date return of 35.55%, ranking 1869 out of 8161 in its category [2] - The fund's performance over the past year shows a return of 29.68%, ranking 2478 out of 8015, and since its inception, it has returned 102.98% [2]

Group 1 - The chairman of China International Airlines, Ma Chongxian, has resigned due to work adjustments, effective immediately [1] - Liu Tiexiang has been elected as the new chairman and will also serve as the head of the board's strategic and investment committee, nomination committee, and aviation safety committee [1] - For the first half of 2025, the revenue composition of China International Airlines is as follows: passenger air transport accounts for 90.64%, other services account for 4.93%, and air cargo and mail transport account for 4.43% [1] Group 2 - As of the report, the market capitalization of China International Airlines is 137.1 billion yuan [2]

Group 1 - The core viewpoint of the news is that China National Aviation Holdings Company (Air China) has experienced a decline in stock price and significant net outflow of funds, indicating potential investor concerns [1][2]. - As of September 24, Air China's stock price dropped by 2.05% to 7.65 CNY per share, with a total market capitalization of 133.48 billion CNY [1]. - Year-to-date, Air China's stock has decreased by 3.29%, with a 5.44% drop over the last five trading days [2]. Group 2 - Air China's main business revenue composition includes 90.64% from passenger air transport, 4.93% from other services, and 4.43% from cargo and mail transport [2]. - As of June 30, 2025, Air China reported operating revenue of 80.76 billion CNY, a year-on-year increase of 1.56%, while the net profit attributable to shareholders was -1.81 billion CNY, reflecting a year-on-year growth of 35.11% [2]. - The company has not distributed any dividends in the past three years, with a total payout of 13.32 billion CNY since its A-share listing [3]. Group 3 - As of June 30, 2025, the number of shareholders for Air China decreased by 14.55% to 129,200, with an average of 0 circulating shares per shareholder [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 279 million shares, an increase of 35.08 million shares from the previous period [3]. - The company is classified under the transportation industry, specifically in the aviation sector, and is part of various concept sectors including civil aviation and large-cap stocks [2].