董事会 2025 年第 7 次会议决议公告 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。 中国东方航空股份有限公司（以下简称"公司"）董事会 2025 年第 7 次会 议，根据《公司章程》和《董事会议事规则》的规定，经董事长王志清召集，于 2025 年 7 月 31 日以通讯方式召开。 参加会议的董事确认会前均已收到本次董事会会议通知。本次会议的召开符 合《公司法》和《公司章程》的有关规定，参加本次会议的董事已达法定人数， 会议合法有效。 公司董事长王志清，副董事长刘铁祥，董事成国伟，独立董事孙铮、陆雄文、 罗群、冯咏仪、郑洪峰，职工董事揭小清审议了有关议案，一致同意并做出以下 决议： 中国东方航空股份有限公司 China Eastern Airlines Co., Ltd. 证券代码：600115 证券简称：中国东航 公告编号：临 2025-053 中国东方航空股份有限公司 1 中国东方航空股份有限公司 China Eastern Airlines Co., Ltd. 四、审议通过《关于广州新机场中联航基地项目立项的议案 ...

Core Points - Typhoon "Bamboo Grass" has gradually moved away from Shanghai and Zhejiang, allowing Eastern Airlines to restore flight operations [1] - Eastern Airlines has been closely monitoring weather changes and has resumed flight capacity at multiple airports in Shanghai and Zhejiang [1] - As of July 31, from midnight to 9 AM, Eastern Airlines executed 90 flight departures and arrivals at Shanghai's two major airports and 17 flights at Ningbo Airport [1] Flight Operations - Eastern Airlines began orderly resumption of flights at Shanghai Hongqiao and Shanghai Pudong airports starting from 11 PM on July 30 [1] - The first international flight to depart after the typhoon passed was MU739 from Pudong Airport [4] Passenger Services - Eastern Airlines has strengthened frontline service staff at relevant airports to assist stranded passengers with check-in and rebooking [6] - The airline is also focusing on providing services for special passengers and ensuring timely flight information updates through various platforms [6]

Core Viewpoint - The aviation sector continues to experience a downward trend in stock prices, influenced by rising fuel costs and geopolitical tensions, particularly related to U.S. tariffs on Indian goods and sanctions on Iran [1] Group 1: Stock Performance - China National Aviation (601111) saw a decline of 4.51%, trading at HKD 5.29 [1] - Capital Airport (00694) dropped by 3.15%, with a price of HKD 3.07 [1] - China Southern Airlines (600029) fell by 2.43%, priced at HKD 3.62 [1] - China Eastern Airlines (00670) decreased by 2.74%, trading at HKD 2.84 [1] Group 2: Geopolitical Impact - U.S. President Trump announced a 25% tariff on goods exported from India starting August 1, raising concerns about supply chain disruptions [1] - Additional sanctions may be imposed on India due to its continued energy purchases from Russia, further escalating geopolitical tensions [1] Group 3: Fuel Costs and Financial Implications - Fuel costs remain the largest expense for airlines, and rising oil prices are expected to lead to higher fuel surcharges [1] - The rapid increase in fuel prices may negatively impact demand due to cost pass-through effects, worsening airline profitability [1] - Airlines face significant foreign currency exposure due to aircraft purchases and leasing, which could result in substantial foreign exchange losses amid currency depreciation [1]

Core Viewpoint - The aviation sector continues to experience a downward trend, influenced by rising fuel costs and geopolitical tensions, particularly related to U.S. tariffs on Indian goods and sanctions on Iran, which are raising supply chain concerns and risk premiums [1] Group 1: Stock Performance - As of the latest update, major Chinese airlines are seeing significant declines in their stock prices: China National Aviation (00753) down 4.51% to HKD 5.29, Capital Airport (00694) down 3.15% to HKD 3.07, Southern Airlines (01055) down 2.43% to HKD 3.62, and Eastern Airlines (00670) down 2.74% to HKD 2.84 [1] Group 2: Geopolitical Impact - U.S. President Trump announced a 25% tariff on goods exported from India starting August 1, warning of potential additional penalties due to India's continued energy purchases from Russia, which raises concerns about supply disruptions [1] - The new sanctions against Iran's oil transport network are further constraining global supply, contributing to increased risk premiums in the market [1] Group 3: Fuel Costs and Financial Implications - According to Guosen Securities, fuel costs remain the largest expense for airlines, and the rapid increase in oil prices is likely to lead to higher fuel surcharges, which may negatively impact demand due to cost pass-through effects [1] - Airlines are significantly exposed to foreign currency liabilities due to aircraft purchases and leases being primarily denominated in foreign currencies, and the implementation of new leasing standards since 2021 has amplified this exposure, leading to substantial foreign exchange losses that could severely affect current profits [1]

证券时报·数据宝统计显示，7月30日有6家香港上市公司进行了股份回购，合计回购963.66万股，回购金 额3542.49万港元。 VITASOY INT'L回购数量212.20万股，回购金额1959.97万港元，回购最高价为9.260港元，最低价为 9.200港元，年内累计回购金额1.82亿港元；中国东方航空股份回购数量250.00万股，回购金额725.36万 港元，回购最高价为2.920港元，最低价为2.890港元，年内累计回购金额6.28亿港元；首程控股回购数 量300.00万股，回购金额562.83万港元，回购最高价为1.880港元，最低价为1.860港元，年内累计回购金 额7289.25万港元。 以金额进行统计，7月30日回购金额最多的是VITASOY INT'L，回购金额为1959.97万港元；其次是中国 东方航空股份，回购金额为725.36万港元；回购金额居前的还有首程控股、捷利交易宝等。回购数量上 看，7月30日回购股数最多的是首程控股，当日回购量为300.00万股；其次是中国东方航空股份、 VITASOY INT'L等，回购数量分别为250.00万股、212.20万股。 值得关注的是，本次回购 ...

Summary of Key Points Core Viewpoint - Several companies, including VITASOY INT'L, Miniso, and China Eastern Airlines, conducted share buybacks on July 30, 2025, with VITASOY INT'L leading in both quantity and monetary value of the buyback [1]. Group 1: Buyback Details - VITASOY INT'L (00345) repurchased 2.122 million shares for a total amount of 19.5997 million yuan, representing 1.806% of its total share capital for the year [2]. - China Eastern Airlines (00670) repurchased 2.5 million shares for 7.2536 million yuan, accounting for 2.202% of its total share capital for the year [2]. - First Travel Holdings (00697) repurchased 3 million shares for 5.6283 million yuan, which is 0.546% of its total share capital for the year [2]. - Jieli Trading (08017) repurchased 2 million shares for 2.689 million yuan, representing 7.480% of its total share capital for the year [2]. - Miniso (09896) repurchased 6.6 million shares for 250,600 yuan, which is 0.268% of its total share capital for the year [2]. - Meiheng Industrial (01897) repurchased 8 million shares for 36 million yuan, accounting for 0.850% of its total share capital for the year [2].

证券时报•数据宝统计，中国东方航空股份在港交所公告显示，7月30日以每股2.890港元至2.920港元的 价格回购250.00万股，回购金额达725.36万港元。该股当日收盘价2.920港元，下跌0.34%，全天成交额 6047.44万港元。 中国东方航空股份回购明细 | 日期 | 回购股数 | 回购最高价 | 回购最低价 | 回购金额 | | --- | --- | --- | --- | --- | | | （万股） | （港元） | （港元） | （万港元） | | 2025.07.30 | 250.00 | 2.920 | 2.890 | 725.36 | | 2025.07.29 | 250.00 | 2.980 | 2.900 | 730.88 | | 2025.07.28 | 250.00 | 3.030 | 2.970 | 749.83 | | 2025.07.25 | 5.40 | 3.030 | 2.960 | 16.29 | | 2025.07.24 | 150.00 | 2.980 | 2.920 | 444.28 | | 2025.07.23 | 250.00 | 2.970 | 2 ...

Core Insights - The launch of the "Civil Aviation Official Direct Sales Platform" by the Hanglv Zongheng App aims to provide a more transparent and efficient ticket purchasing experience for consumers [1][3] - The platform allows users to compare and purchase tickets directly from multiple airlines, eliminating issues such as price discrepancies and bundled sales that have plagued the industry [1] - Major domestic airlines, including Air China, China Southern Airlines, and China Eastern Airlines, have announced their support for this direct sales initiative, ensuring that ticket prices are transparent and consistent with airline policies [3] Group 1 - The direct sales platform is designed to address long-standing issues in the ticket sales market, such as third-party markups and inconsistent pricing [1] - The platform promises to offer transparent pricing, no bundled sales, and protection against data misuse, enhancing user data security [1] - The platform is operated by Hanglv Zongheng, a subsidiary of China Aviation Information Technology, which plans to expand its airline partnerships and introduce additional value-added services [1] Group 2 - The three major airlines have confirmed that all tickets sold through the Hanglv Zongheng platform are directly sourced from the airlines, ensuring price transparency and consistency with airline rules [3] - The airlines emphasize that the platform will prevent issues like "big data killing familiarity," ensuring that consumers are treated fairly [3] - The initiative aims to enhance the overall travel experience for passengers by providing a reliable and straightforward ticket purchasing process [3]

Performance Summary - Ningde Times (03750.HK) reported a revenue of 178.886 billion yuan for the first half of the year, an increase of 7.27% year-on-year, with a net profit of 30.512 billion yuan, up 33.02% year-on-year [2] - Hisense Home Appliances (00921.HK) achieved a total operating revenue of 49.34 billion yuan, a year-on-year increase of 1.44%, and a net profit of 2.077 billion yuan, up 3.01% year-on-year [2] - New Oriental-S (09901.HK) recorded a net revenue of 4.9 billion USD for the fiscal year 2025, a year-on-year increase of 13.6%, with a net profit of 372 million USD, up 20.1% year-on-year [2] - Weisheng Holdings (03393.HK) reported an operating income of 1.368 billion yuan, a year-on-year increase of 11.88%, and a net profit of 305 million yuan, up 12.24% year-on-year [2] - Yingda Real Estate (00432.HK) had a total revenue of 736 million HKD, a year-on-year growth of 35%, but reported a net loss of approximately 249 million HKD, an increase of 62.75% year-on-year [2] - Saint Bella (02508.HK) announced a profit alert, expecting a net profit of over 320 million yuan, turning from loss to profit year-on-year [2] - Aoneng Construction (01183.HK) issued a profit alert, expecting a net profit increase of over 125% to no less than 18 million MOP year-on-year [2] - Da Cheng Corn Group (03889.HK) issued a profit warning, expecting a net loss of approximately 65 to 85 million HKD, turning from profit to loss year-on-year [2] Company News - Sinopec Oilfield Services (01033.HK) announced that its subsidiary won a natural gas pipeline engineering project with a bid amount of 3.597 billion yuan, accounting for 4.44% of the 2024 revenue [2] - CSPC Pharmaceutical Group (01093.HK) signed an exclusive licensing agreement with MADRIGAL for SYH2086, with potential total payments of up to 2.075 billion USD [2] - China Biopharmaceutical (01177.HK) reported successful external licensing cooperation for LM-299, with a milestone payment of 300 million USD expected to be received soon [2] - Chunquan Industrial Trust (01426.HK) reported an average rental rate of approximately 86% for Huamao Property in the second quarter [2] - Sihuan Pharmaceutical (00460.HK) completed the first patient enrollment in a Phase III clinical trial for the new indication of the innovative drug Annelazole Sodium for gastroesophageal reflux disease [2] - Zhaoke Ophthalmology-B (06622.HK) received orphan drug designation from the FDA for Mephalan for the treatment of retinoblastoma in children [2] - Yunnan Construction Investment Concrete (01847.HK) continues to sign concrete supply contracts for the expansion project of Kunming Changshui International Airport, with a contract amount of approximately 283 million yuan [2] Buyback and Increase Dynamics - Vitasoy International (00345.HK) repurchased 2.122 million shares for approximately 19.6 million HKD at a price range of 9.2 to 9.26 HKD [2] - China Eastern Airlines (00670.HK) spent approximately 7.2536 million HKD to repurchase 2.5 million shares at a price range of 2.89 to 2.92 HKD [2]

Group 1 - China Eastern Airlines repurchased 2.5 million shares at an average price of HKD 2.90 per share, totaling approximately HKD 7.25 million, with a cumulative repurchase of 114 million shares this year, representing 2.20% of the total share capital [1][2] - As of the market close on the same day, the stock price of China Eastern Airlines decreased by 0.34%, closing at HKD 2.92 per share [1] - The stock repurchase indicates the company's confidence in its financial health, as it has sufficient cash flow to support the buyback, reflecting financial stability [2] Group 2 - China Eastern Airlines is one of the three major state-owned backbone airlines in China, primarily engaged in domestic and international passenger, cargo, mail, and baggage transportation services [3] - The company has established a wide route network covering numerous domestic cities and many important international business and tourism destinations [3] - In a competitive aviation environment, China Eastern Airlines is actively exploring innovative business models, enhancing cooperation with other airlines, and expanding value-added services related to aviation [3]