华夏航空 11 月股价上涨 30%，领跑上市航司。前 11 个月民航支线补 贴约 3,100 元/小时，同比增长超 10%，较疫情前翻倍。预计全年飞机 利用率 8.1 小时，2026 年有望达 8.5 小时，反映运营效率提升潜力。 公司面临机长短缺（C909 机型缺口 20%）和普惠发动机维修挑战（22 台受影响，预计明年底解决 15 台），影响轮档小时数恢复，预计全年 22.3 万小时，低于预期。 9 月起票价同比转正，增幅 3-4%。11 月客座率达 82%，创历史新高。 前三季度江补平均 1.6 亿元/季度，同比增长超 25%，显示盈利能力改 善。 机队规模达 78 架，年底预计 80 架（31 架 A320、33 架 CRJ900、16 架 C909）。计划处置 CRJ900 并引进 3 架 A320 和 6 架 C909，总量 或有 1-2 架增量，优化机队结构。 航班换季后，时刻同比增加 4.5%，西北区域（兰州）增幅 82%，华东 区域（舟山新增基地）增幅近 40%，新疆增加 11%，反映公司战略重 点区域调整。 Q&A 今年（2025 年）以来，华夏航空的经营情况如何？未来展望如何？ 今年（2 ...

完整早报音频，请点击标题下方小耳机收听 【影视飓风否认冲锋衣致癌】 11 月 30 日，影视飓风旗下账号 @ 飓风商店 MediaStore 发布视频 回应冲锋衣相关质疑。影视飓风晒出检测报告，证明 PFOA 是"未检出"，还指出质疑者送检的样品 本身已破坏、报告不完整，反指对方是断章取义带节奏，并表示已准备走法律程序。"近期有一位电 商服装博主 H 先生小韩哥对我们 25 款的三合一冲锋衣发布了多条质疑视频，引发了讨论。我们希 望针对对应的质疑进行具体技术说明，和大家讲明情况，来证伪这位博主的指控。"（中华网） 【徐新 3.4 万亿估值拿下字节跳动部分股权，成为张一鸣"新股东"】 据彭博社报道，一家中国投资 公司在 19 日举行的竞标中击败其他数家意向方，从字节跳动早期机构投资者中银集团投资有限公司 （以下简称中银投）手中收购了其持有的部分股权。知情人士表示，这批股票最初定价约 2 亿美元， 对应字节跳动估值为 3600 亿美元。而最终的收购价达到约 3 亿美元，估值更是高达 4800 亿美 元，约合人民币 3.4 万亿元。这家机构，正是徐新掌管的今日资本（ Capital Today ）。业内人士 指出， ...

法国当地时间11月28日，欧盟航空安全局EASA颁布紧急适航指令，要求立即停飞所有的涉及的空客 320飞机。 （原标题：全球约6000架A320飞机需紧急停飞） 这份指令是源自空客向EASA报告，相当数量A320系列客机因飞行控制软件易受强烈太阳辐射影响，需 要紧急停飞，并实施现有软件和/或硬件防护方案，确保机队飞行安全。空客方面表示，约有6000架客 机受到影响，将进行紧急维修。 有报道称空客将召回6000架A320飞机。但空客中国方面向21世纪经济报道表示此表述不正确，涉及的 飞机只需本地进行软件调整即可。 ...

法国当地时间11月28日，欧盟航空安全局EASA颁布紧急适航指令，要求立即停飞所有的涉及的空客320飞机。 这份紧急适航指令是源自空客向EASA报告相当数量A320系列客机因飞行控制软件易受强烈太阳辐射影响，需要紧急停飞，并 实施现有软件和/或硬件防护方案，确保机队飞行安全。空客方面表示，约有6000架客机受到影响，将进行紧急维修。 有报道称空客将召回6000架A320飞机。但空客中国方面向21世纪经济报道表示此表述不正确，涉及的飞机只需本地进行软件调 整即可。 空客进行的初步技术评估确定受影响的 ELAC 故障可能是促成因素。如果未纠正，此状况在最坏情况下可能导致未指令的升降 舵移动，从而超过飞机的结构能力。为了应对此潜在不安全状况，空客发布了 AOT，提供安装可服役的ELAC的说明。 欧盟EASA适航当局解释称，之所以要求涉及的多款A320飞机紧急停飞，因为一架空客A320飞机最近经历了未指令且有限的俯 冲事件。自动驾驶在整个事件中保持接通，伴随短暂且有限的高度损失，其余飞行正常。 空客11月28日也发布一份声明，解释了一下此事由来，指出空客A320飞机需要紧急更换一种易受太阳辐射影响的飞行控制软 件，强 ...

Market Overview - The Shanghai and Shenzhen stock indices opened lower on October 22, with significant fluctuations observed throughout the morning session, leading to a decline by midday [1] - The Shanghai Composite Index closed at 3899.05 points, down 0.44%, with a trading volume of approximately 479.3 billion yuan [1] - The Shenzhen Component Index closed at 12971.98 points, down 0.81%, with a trading volume of approximately 618.7 billion yuan [1] - The ChiNext Index closed at 3056.23 points, down 0.89%, with a trading volume of approximately 280.7 billion yuan [1] - The North Star 50 Index, however, saw an increase of 1.19%, closing at 1475.71 points with a trading volume of approximately 16.2 billion yuan [1] Sector Performance - The artificial meat and combustible ice sectors led the gains in the early trading session, while engineering machinery and wind power sectors experienced significant increases [1] - Notable declines were observed in the precious metals, shipping, and non-ferrous metals sectors [1] Industry Insights - Citic Securities highlighted the acceleration of commercialization in quantum communication and measurement, with domestic research leading globally and key advancements in industrial applications [3] - The report emphasized the potential investment opportunities in the quantum information sector due to supportive policies and competitive advancements [3] Government Initiatives - The Guangdong provincial government announced an action plan for AI empowerment in manufacturing from 2025 to 2027, focusing on digital transformation and intelligent upgrades across various industries [5] - The plan includes 16 policy measures aimed at enhancing supply, promoting application, and optimizing support systems for manufacturing [5] - Specific industries targeted for AI application include smart terminals, new energy vehicles, and textiles, with financial support for qualifying small and medium-sized enterprises [5] Corporate Engagement - The Chinese Minister of Commerce met with the CEO of Airbus, discussing continued cooperation in the Chinese market, which has become a significant consumer and import market [4] - Airbus expressed confidence in the Chinese economy and the aviation industry, particularly with the upcoming launch of a second A320 assembly line in Tianjin [4]

Core Viewpoint - The meeting between China's Minister of Commerce Wang Wentao and Airbus CEO Guillaume Faury highlights the strengthening cooperation between Airbus and China, particularly in light of the expansion of the Chinese market and the establishment of a new A320 assembly line in Tianjin [1][3]. Group 1: Market Expansion - China has become the world's second-largest consumer and import market, indicating significant growth potential for foreign companies like Airbus [3]. - The Chinese government is committed to advancing modernization and developing new productive forces, which will create ample opportunities for foreign investment [3]. Group 2: Cooperation and Development - Airbus is encouraged to leverage the new A320 assembly line in Tianjin as a means to enhance its collaboration with China and provide high-quality aviation products and services [3]. - Airbus expresses confidence in the development of China's economy and civil aviation industry, viewing the new assembly line as a favorable condition for deepening cooperation [5]. Group 3: Global Economic Context - The current global economic environment is characterized by fragmentation, unilateralism, and protectionism, which pose challenges to international trade and economic order [5]. - The Chinese side aims to utilize the foreign investment enterprise roundtable to address issues faced by Airbus in its operations in China, thereby contributing to the stability of global supply chains [5].

Core Viewpoint - Advanced manufacturing in China is leveraging resilience and innovation to navigate global supply chain challenges and technological revolutions, particularly through the integration of artificial intelligence (AI) [1][2]. Group 1: Resilience in Supply Chains - The concept of "resilient supply chains" is emphasized as essential for advanced manufacturing to withstand economic cycles and global disruptions [2][3]. - Chinese supply chains are characterized by their comprehensive nature, stability, and responsiveness, making them indispensable for companies like Honeywell [3][5]. - Airbus highlights the importance of localizing supply chains in China, stating that many components of their aircraft are manufactured locally, which enhances their operational efficiency [2][3]. Group 2: Innovation and AI Integration - Siemens has introduced 18 new products for the Chinese market, with 16 developed locally in just nine months, showcasing the speed and creativity of "Chinese-style innovation" [1][5]. - AI is recognized as a transformative force in manufacturing, reshaping the industry's core capabilities and driving new productivity [6][8]. - Schneider Electric is integrating AI with automation solutions to meet the growing demands for smart and sustainable manufacturing [6][8]. Group 3: Collaborative Ecosystems - The construction of collaborative ecosystems is vital for enhancing supply chain resilience, with companies focusing on integrating value elements and fostering cooperation among various stakeholders [5][6]. - The concept of "ecological circles" is introduced, where companies act as "weavers" to connect upstream and downstream partners, facilitating dialogue and collaboration [5][6]. - The need for standardization and long-term symbiosis among companies is highlighted as a pathway to achieving mutual benefits in the supply chain [5][6]. Group 4: Future Manufacturing Trends - The shift towards "smart factories" is illustrated by the development of automated systems that reduce reliance on manual labor, enhancing safety and efficiency [7][8]. - Companies like Wacker are investing in digital twin technologies to optimize manufacturing processes before physical implementation, thereby reducing costs and time [7][8]. - The ultimate goal for traditional manufacturers is to evolve into "native digital enterprises," leveraging digital assets to enhance production capabilities [8][9].

Group 1 - The Chain Expo showcased over 110 renowned companies in advanced manufacturing, including China CRRC, China Aluminum Group, Siemens, Honeywell, Corning, and Sumitomo Electric, highlighting the latest practices in rail transportation, aerospace, low-altitude economy, and industrial automation [1] - The theme event "Leading New Quality Productivity Development with Technological Innovation" emphasized that modern manufacturing is essential for a better life, and international cooperation is crucial for accelerating advanced manufacturing development [1] - Airbus's COO in China highlighted the importance of a global supply chain in the aviation industry, showcasing the relationship between Chinese manufacturing and the A320 aircraft, with components produced in China [1] Group 2 - Intelligent manufacturing is becoming the main focus for upgrading the manufacturing industry, with Siemens developing 18 digital and intelligent products, 16 of which were completed in just 9 months in China [2] - Honeywell is empowering small and medium-sized enterprises for digital transformation, emphasizing the unique demands of the Chinese market and collaborating with local associations, universities, suppliers, and customers [2] - China Aluminum Group is embracing digitalization by establishing the first "dark factory" in the non-ferrous metal industry, aiming for automation to improve efficiency and safety while reducing costs [2]

Group 1 - Airbus has signed a new cooperation agreement with its Chinese partner, AVIC Xi'an Aircraft Industrial Group, to localize the production of A321 aircraft in China [1] - The project extends a similar collaboration on the A320 aircraft and signals positive developments ahead of the upcoming China-Europe summit [3] - Analysts predict that Airbus may sign a multi-billion dollar deal at the summit, following a previous order from China's three major state-owned airlines for approximately 300 single-aisle aircraft valued at around $37.2 billion [3] Group 2 - The first A321 aircraft components for assembly in Tianjin have arrived, with installation expected to be completed by October [3] - The assembly process includes various stages such as incoming inspection, insulation installation, bracket installation, and testing of electrical, electronic, drainage, oxygen, flight control, and hydraulic systems [3] - The Tianjin facility is Airbus's first commercial aircraft assembly line outside of Europe, established in 2008, and delivered its first A321 aircraft in 2023 [3] Group 3 - Meanwhile, the domestically produced C919 aircraft is making steady progress, with COMAC delivering 11 C919 jets to China Eastern Airlines by the end of June [5] - The C919's delivery pace is considered rapid compared to mainstream models like the A320, although it still requires further commercial flights to gather operational data [5] - The C919 has not yet received approval for international routes, necessitating continued reliance on established Airbus aircraft during this period [5]

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 2025-039 海南航空控股股份有限公司 2025 年 4 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。 2025 年 4 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 | 2025 年 4 | 月 | 2025 年累计 | | | --- | --- | --- | --- | --- | | 数值 | | 同比变动（%） | 数值 | 同比变动（%） | | 收入客公里（RPK）（百万） | | | | | | 国内 | 8071.61 | 0.94 | 35173.37 | 3.12 | | 地区 | 25.93 | 90.15 | 86.64 | 83.10 | | 国际 | 2248.72 | 64.46 | 8236.33 | 82.78 | | 合计 | 10346.26 | 10.33 | 43496.34 | 12.50 | | 收入吨公里（ ...