新浪科技讯 2月3日中午消息，继2025年开始与华住会、希尔顿、海底捞等伙伴合作后，滴滴正式宣布 与海南航空控股股份有限公司（以下简称"新海航海南航空"）建立合作伙伴关系，围绕双方的会员体系 建设开展深度合作，本次合作将"地面出行"与"空中体验"权益无缝衔接，双方会员完成相应挑战任务后 可解锁更丰富的会员权益，进一步提升出行体验。此外，滴滴还推出了打车往返机场可领海航金鹏俱乐 部消费积分的活动，为用户的机场出行增加更多价值感。 金鹏俱乐部作为新海航航空集团旗下12家成员航司共享的全球性常旅客奖励计划，已构建"吃、住、 行、游、购、娱"多元化跨界服务生态圈。本次合作中滴滴出行携手新海航海南航空推出"海航金卡挑 战"权益，首期活动自即日起至6月30日，滴滴会员V7、V8用户通过专属通道领取"海航金卡挑战"任务 后，自报名成功之日起99天（含）内，完成指定标准的定级航段累积，即可快速获得金鹏俱乐部相应的 贵宾会籍等级，享受金鹏贵宾会员全流程高端服务，包括贵宾休息室、公务舱值机柜台、优先登机等多 项会员礼遇，提升高频跨城商旅用户的出行效率与舒适度。 2026年6月30日前，海航金鹏俱乐部贵宾会员可通过海南航空App或 ...

Group 1: Industry Dynamics - The overall container shipping rates have decreased, with the SCFI composite index dropping by 9.7% to 1317 points, and specific routes such as Shanghai-Europe and Shanghai-Mediterranean seeing declines of 11.1% and 12.0% respectively [1][8] - The refined oil tanker rates have increased, with the BCTI index rising by 4.6% to 890 points, while the MR rates for the Pacific and Atlantic regions showed mixed results [1][9] - The dry bulk market has shown strength during the traditional off-season, with the BDI index increasing by 12.0% to 1949 points, driven by a mismatch in supply and demand [1][8] Group 2: Express Logistics - YTO Express held a conference emphasizing the importance of building a resilient supply chain and adhering to national postal policies [2] - The State Post Bureau has prioritized the governance of illegal charges in rural express delivery as part of its 2026 initiatives [3] - Macro trends indicate a resilient demand in the e-commerce express delivery sector, with companies like SF Express and JD Logistics expected to benefit from cyclical recovery and cost control [13] Group 3: Aviation Sector - The civil aviation sector is showing signs of recovery, with major airlines like China Southern and Hainan Airlines expected to turn profitable in 2025, while others like China Eastern and Air China are projected to reduce losses significantly [4] - The State Council has issued a plan to enhance service consumption, which includes transportation services, aiming to stimulate economic growth [4] - Spring Festival travel demand is strong, with domestic flight bookings exceeding 7.16 million, reflecting a 16% increase compared to the previous year [5][6] Group 4: Shipping and Port Operations - The geopolitical situation in the Middle East remains tense, with the U.S. increasing military presence, which could impact oil shipping routes [7] - The Atlantic freight market is experiencing a surge, with dry bulk rates showing unexpected strength due to concentrated cargo volumes and tight capacity [8] - China's port cargo throughput has decreased, with a reported decline of 1.70% in total cargo and a 4.35% drop in container throughput [10] Group 5: Road and Rail Transport - National logistics operations are running smoothly, with rail freight volumes showing a slight decline of 3.35% [11] - Shenzhen International reported a 3.3% increase in toll revenue for December 2025, indicating stable growth in road transport [12] - Zhongyuan Express plans to recognize credit impairment and asset impairment provisions totaling 950 million, forecasting a 30% decline in annual net profit [12]

Core Viewpoint - Hainan Airlines Holding Co., Ltd. has made progress in its restructuring plan, converting approximately $174.28 million (1.24 billion RMB) of debt into equity by issuing shares to Tianjin Bohai Leasing Co., Ltd. [2][3] Group 1: Restructuring Plan Execution - The company and its subsidiary, Yunnan Xiangpeng Airlines, reached a settlement with Tianjin Bohai Leasing Co., Ltd. for a total debt of approximately $174,284,960.95, converting this into 389,506,341 shares at a price of 3.18 RMB per share, representing about 0.90% of the total share capital [2][3] - As of December 31, 2025, 198,897,381 shares were registered with the China Securities Depository and Clearing Corporation Limited [3] - The remaining 190,608,960 shares were transferred to Tianjin Bohai Leasing Co., Ltd. on January 30, 2026, accounting for approximately 0.44% of the total share capital [4] Group 2: Impact on the Company - The implementation of the restructuring plan will not change the controlling shareholder or actual controller of the company and will not adversely affect daily operations [5] - The new shareholders, as part of Hainan Haihang No. 2 Trust Management Co., Ltd., will collectively hold 6.18% of the company's shares after the transfer [5] - The equity change is a result of the agreement made in the "Debt-to-Equity Agreement" signed earlier between the company and Tianjin Bohai Leasing's subsidiaries [12]

Performance Highlights - New Yi Sheng (300502.SZ) expects net profit between 9.4 billion and 9.9 billion CNY, a year-on-year increase of 231.24% to 248.86% due to rising demand for high-speed optical modules driven by global computing power investments[4] - Han's Chip (688256.SH) anticipates net profit between 1.85 billion and 2.15 billion CNY, turning from a loss of 450 million CNY last year, benefiting from the growing demand for AI computing power[5] - Zhongji Xuchuang (300308.SZ) projects net profit between 9.8 billion and 11.8 billion CNY, a year-on-year growth of 89.50% to 128.17%, driven by strong customer investment in computing infrastructure[6] - Runze Technology (300442.SZ) expects net profit between 5 billion and 5.3 billion CNY, a year-on-year increase of 179.28% to 196.03%, largely due to non-recurring gains from public REITs issuance[10] Underperformance Highlights - Great Wall Motors (601633.SH) forecasts net profit of 9.912 billion CNY, a year-on-year decline of 21.71% due to increased marketing expenses and competitive pressures[36] - GAC Group (601238.SH) expects a net loss between 8 billion and 9 billion CNY, turning from a profit of 824 million CNY last year, impacted by fierce competition and increased asset impairment provisions[39] - Xiexin Integrated (002506.SZ) anticipates a net loss between 890 million and 1.29 billion CNY, shifting from a profit of 68 million CNY last year due to structural supply-demand issues in the photovoltaic industry[41] - Baile Tianheng (688506.SH) projects a net loss of around 1.1 billion CNY, down from a profit of 3.708 billion CNY last year, primarily due to increased R&D expenses[42] Industry Trends - Technology-driven sectors like AI and innovative pharmaceuticals are leading growth, with companies like New Yi Sheng and Han's Chip benefiting from strong demand and technological advancements[69] - Cost control is becoming a critical competitive advantage, particularly in the energy and manufacturing sectors, as seen with companies like Datang Power (601991.SH) benefiting from lower coal prices[70] - Traditional cyclical industries such as real estate and agriculture are facing significant downward pressure, with companies like Vanke (000002.SZ) and Tianbang Foods (002124.SZ) experiencing substantial losses due to market adjustments[72]

Core Viewpoint - The performance of China's four major airlines in 2025 shows significant divergence, with Hainan Airlines and China Southern Airlines expected to turn losses into profits, while China National Aviation and Eastern Airlines are projected to remain in the red [1][2]. Group 1: Performance Forecasts - China National Aviation anticipates a net loss of approximately 1.3 billion to 1.9 billion RMB for 2025, with a non-recurring net loss expected to be between 1.9 billion and 2.7 billion RMB [1]. - Eastern Airlines projects a total profit of about 200 million to 300 million RMB, with a net loss estimated between 1.3 billion and 1.8 billion RMB, and a non-recurring net loss of 2.7 billion to 3.3 billion RMB [1]. - In contrast, Hainan Airlines expects a significant improvement, forecasting a net profit of 1.8 billion to 2.2 billion RMB, with a non-recurring net profit of 900 million to 1.1 billion RMB [1]. - China Southern Airlines also predicts a turnaround, with a net profit forecast of 800 million to 1 billion RMB and a non-recurring net profit of 130 million to 190 million RMB [1]. Group 2: Factors Influencing Performance - Hainan Airlines attributes its expected profitability to a favorable civil aviation market, improved capacity management, the positive impact of the Hainan Free Trade Port, and exchange gains from the appreciation of the RMB [1]. - China Southern Airlines highlights its ongoing improvement in operational efficiency despite external uncertainties, supply chain pressures, and rising costs of aircraft and materials [2]. - All four airlines reported profitability in the first three quarters of 2025, with China National Aviation achieving a net profit of 1.87 billion RMB, a year-on-year increase of 37.31% [2]. - Eastern Airlines reported a net profit of 2.1 billion RMB, successfully turning around from losses, while China Southern Airlines and Hainan Airlines reported net profits of 2.3 billion RMB and 2.8 billion RMB, reflecting year-on-year growth of 17.40% and 30.93%, respectively [2].

Core Viewpoint - The article highlights the performance forecast of various A-share listed companies, indicating a significant divergence in earnings growth across different sectors, driven by technological advancements, cost control, and industry cycles [4][62]. Group 1: Companies with Strong Earnings Growth - **New Yisheng (300502.SZ)**: Expected net profit of 9.4 billion to 9.9 billion, a year-on-year increase of 231.24% to 248.86%, driven by rising demand for high-speed optical modules due to global computing power investments [6]. - **Han's Laser (688256.SH)**: Expected net profit of 1.85 billion to 2.15 billion, turning from a loss of 0.452 billion in the previous year, benefiting from the increasing demand for AI computing power [8]. - **Zhongji Xuchuang (300308.SZ)**: Expected net profit of 9.8 billion to 11.8 billion, a year-on-year increase of 89.50% to 128.17%, supported by strong investment in computing infrastructure [10]. - **Runze Technology (300442.SZ)**: Expected net profit of 5 billion to 5.3 billion, a year-on-year increase of 179.28% to 196.03%, primarily due to non-recurring gains from public REITs issuance [12]. - **CITIC Securities (601995.SH)**: Expected net profit of 8.542 billion to 10.535 billion, a year-on-year increase of 50% to 85%, driven by steady growth in core business segments [15]. Group 2: Companies with Earnings Below Expectations - **Great Wall Motors (601633.SH)**: Expected net profit of 9.912 billion, a year-on-year decrease of 21.71%, impacted by increased marketing expenses and intense competition [34]. - **GAC Group (601238.SH)**: Expected net profit of -8 billion to -9 billion, turning from a profit of 0.824 billion in the previous year, due to fierce competition and adjustments in product structure [36]. - **GCL-Poly Energy (002506.SZ)**: Expected net profit of -0.89 billion to -1.29 billion, turning from a profit of 0.068 billion, affected by structural supply-demand issues in the photovoltaic industry [38]. - **Boli Tianheng (688506.SH)**: Expected net profit of -1.1 billion, turning from a profit of 3.708 billion, due to increased R&D expenses [39]. - **Daiyue City (000031.SZ)**: Expected net profit of -2.7 billion to -2.1 billion, continuing losses from the previous year, influenced by asset impairment provisions [42]. Group 3: Industry Trends - **Technological Breakthroughs**: Industries driven by technology, such as AI and innovative pharmaceuticals, are showing strong growth, with companies like New Yisheng and Rongchang Bio leading the way [62][63]. - **Cost Control**: The energy and manufacturing sectors are experiencing a clear divide, with companies like Datang Power benefiting from lower coal prices and effective cost management [64]. - **Downward Pressure from Industry Cycles**: The real estate, agriculture, and photovoltaic sectors are under significant pressure, with companies like Vanke and Tianbang Food facing substantial earnings declines [65][66].

观点网讯：2月2日，海航控股公告，公司及子公司祥鹏航空与天津渤海租赁下属子公司达成的1.24亿元 共益债转股方案已完成首批过户。 本次重整方案实施后，股票过入方及其一致行动人合计持股升至6.18%，但公司强调，交易不会导致控 股权变更，也不会对日常经营产生重大影响。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 根据协议，债权按3.18元/股折股，合计转增389,506,341股，占公司总股本0.9%。其中198,897,381股已 于2025年12月31日登记至债权人名下，剩余190,608,960股将于2026年1月30日完成过户。 ...

一、信息披露义务人及其一致行动人的基本信息 （一）身份类别 | | □控股股东/实际控制人及其一致行动人 其他 5%以上大股东及其一致行动人 | | --- | --- | | 投资者及其一致行动人的身份 | □合并口径第一大股东及其一致行动人（仅适用 | | | 于无控股股东、实际控制人） | | | □其他______________（请注明） | 证券代码：600221 、900945 证券简称：海航控股 、海控 B 股 公告编号：2026-010 海南航空控股股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的 提示性公告 投资者及其一致行动人保证向本公司提供的信息真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 临时公告 （二）信息披露义务人信息 | | □ | 控股股东/实控人 | | | | --- | --- | --- | --- | --- | | 广州南沙渤海八号租 | □ | 控股股东/实控人的一致 |  | 91440115MA59D9LP8W | | 赁有限公司 | 行动人 | | □ | 不适 ...

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 2026-009 海南航空控股股份有限公司 关于重整计划相关事项执行进展的公告 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。 重要内容提示： 根据《海南航空控股股份有限公司及其十家子公司重整计划》（以下简称《重 整计划》），海南航空控股股份有限公司（以下简称"海航控股"或"公司"）及子公司云 南祥鹏航空有限责任公司（以下简称"祥鹏航空"）就欠付的合计约 174,284,960.95 美 元(折合 1,238,630,163.81 元人民币)共益债与天津渤海租赁有限公司下属子公司达成 清偿方案，以 3.18 元/股的价格转换为海航控股 389,506,341 股股票，约占公司总股本 的 0.90%。上述股票中的 198,897,381 股股票已于 2025 年 12 月 31 日在中国证券登记 结算有限责任公司上海分公司完成过户登记手续。 2026 年 1 月 30 日，剩余 190,608,960 股股票已过户至天津渤海租赁有限公司 ...

海航控股公告称，公司及子公司祥鹏航空约1.24亿元共益债与天津渤海租赁下属子公司达成清偿方案， 以3.18元/股转389,506,341股公司股票，占总股本0.90%。其中198,897,381股于2025年12月31日完成过 户，剩余190,608,960股（占0.44%）于2026年1月30日完成。本次重整不影响控股权和日常经营，股票 过入方成股东，与一致行动人合计持股6.18%。 ...