Investment Rating - The report maintains a "Recommended" rating for China Eastern Airlines (600115.SH) [4][6] Core Views - The company reported a revenue of 66.8 billion yuan for the first half of 2025, a year-on-year increase of 4.1%, with a reduced net loss of 1.43 billion yuan compared to a loss of 2.77 billion yuan in the first half of 2024 [1] - The company is focusing on cost control and optimizing its capital and debt structure, which has led to a significant reduction in losses [2][3] - The international route capacity has reached 118% of the same period in 2019, indicating a strategic shift towards enhancing its international network [3] Summary by Sections Financial Performance - In Q2 2025, the company achieved a revenue of 33.4 billion yuan, a year-on-year increase of 7.8%, with a net loss of 440 million yuan, significantly improved from a loss of 1.97 billion yuan in Q2 2024 [1][2] - The overall seat revenue decreased by 3.1% year-on-year, with domestic routes down by 4.4% and international routes up by 0.5% [2] - The company has effectively controlled costs, with a 2.4% increase in unit fuel costs but a 3.9% decrease in total unit costs due to falling oil prices [2] Strategic Initiatives - The company is enhancing its position as an international hub in Shanghai and expanding its international route network, which is expected to contribute positively to profitability [3] - Adjustments to the aircraft fleet plan have been made, reducing the number of aircraft to be introduced in 2026 and 2027, focusing on optimizing existing operations [3] Future Outlook - The report projects a net loss of 1.07 billion yuan for 2025, with a recovery expected in 2026 and 2027, forecasting net profits of 3.47 billion yuan and 5.18 billion yuan respectively [4][5] - The current stock price corresponds to a price-to-earnings ratio of 26 times for 2026 and 17 times for 2027 [4][5]

Core Insights - China Eastern Airlines and Shanghai Electric held discussions to deepen cooperation and promote green collaborative development [1] - China Eastern Airlines aims to leverage its market application advantages to integrate with Shanghai Electric's technological capabilities for the commercialization of green fuels in aviation [1] - Shanghai Electric has developed core technologies and key equipment for green hydrogen-based fuels, providing clean and sustainable fuel supply solutions for the aviation industry [1] Company Collaboration - The meeting was attended by Wang Zhiqing, Chairman of China Eastern Airlines, and Wu Lei, Chairman of Shanghai Electric [1] - Both companies expressed a desire to enhance communication and collaboration, focusing on technological innovation to drive high-quality development in the aviation sector [1]

Group 1 - The report details the changes in the registered capital and issued shares of China Eastern Airlines Corporation Limited as of August 31, 2025, indicating no changes in the number of shares for both H-shares and A-shares [1][2] - The total registered capital at the end of the month is RMB 22,291,296,570, with H-shares totaling 5,176,777,777 shares and A-shares totaling 17,114,518,793 shares, both remaining unchanged from the previous month [1][2] - There are no changes reported in the issued shares or treasury shares for both H-shares and A-shares, maintaining the same figures as the previous month [1][2] Group 2 - The report confirms that there are no details regarding stock options, warrants, or convertible bonds applicable to the company [1][2] - No additional agreements or arrangements related to the issuance of shares have been noted in the report [1][2] - The report does not provide any information regarding Hong Kong depositary receipts [2]

证券日报网讯 9月2日晚间，中国东航发布公告称，2025年8月份，公司未进行A股回购。 （文章来源：证券日报） ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國東方航空股份有限公司 呈交日期: 2025年9月2日 I. 法定/註冊股本變動 FF301 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00670 | 說明 | | 中國東方航空股份有限公司H股 | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,176,777,777 | RMB | | 1 RMB | | 5,176,777,777 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 5,176,777,777 | RMB | | 1 RMB | | 5,176,777,777 | | 2. 股份 ...

Summary of Key Points Core Viewpoint - China Eastern Airlines Corporation Limited (00670) announced that as of August 31, 2025, it had not conducted any A-share repurchases, with a total of 89.55 million A-shares repurchased, representing approximately 0.4017% of the total share capital [1] A-Share Repurchase Details - The total number of A-shares repurchased is 89.55 million [1] - The highest repurchase price for A-shares was 4.10 CNY per share, while the lowest was 3.53 CNY per share [1] - The total amount spent on A-share repurchases was approximately 337 million CNY, excluding transaction fees [1] H-Share Repurchase Details - The total number of H-shares repurchased is 114 million [1] - The highest repurchase price for H-shares was 3.03 HKD per share, while the lowest was 2.26 HKD per share [1] - The total amount spent on H-share repurchases was approximately 311 million HKD, excluding transaction fees [1]

智通财经APP讯，中国东方航空股份(00670)发布公告，2025年8月，公司未进行A股回购。截至2025年8 月31日，公司累计完成回购A股数量为8955.39万股(约占公司总股本的0.4017%)，回购成交的最高价为 4.10元/股，最低价为3.53元/股，成交总金额约为3.37亿元(不含交易费用)。 2025年8月，公司未进行H股回购。截至2025年8月31日，公司累计完成回购H股数量为1.14亿股(约占公 司总股本的0.5114%)，回购成交的最高价为3.03港元/股，最低价为2.26港元/股，成交总金额约为3.11亿 港元(不含交易费用)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00670） 海外監管公告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則第13.10B條作出。 茲載列中國東方航空股份有限公司在上海證券交易所網站刊登的以下資料中文全文，僅供參 閱： 承董事會命 中國東方航空股份有限公司 李干斌 聯席公司秘書 中華人民共和國，上海 2025年9月2日 於本公告日期，本公司董事包括王志清（董事長）、成國偉（董事）、孫錚（獨立非執行董事）、陸雄文（獨立非執行董 事）、羅群（獨立非執行董事）、馮詠儀（獨立非執行董事）、鄭洪峰（獨立非執行董事）及揭小清（職工董事）。 中国东方航空股份有限公司 China Eastern Airlines Co., Ltd. ⚫ 截至 2025 年 8 月 31 日，H 股回购进展如下： 证券代码：600115 证券简称：中国东航 公告编号：临 2025-062 中国东方航空股份有 ...

Core Points - Eastern Airlines has upgraded its "pet in cabin" service starting September 1, covering 31 airports and 110 popular routes, allowing more travelers to enjoy the experience of traveling with pets [2] - The service is currently available only in designated areas of the economy class, with a maximum of 2 pets per flight and 1 pet per passenger [2] Group 1 - The upgrade of the pet service aims to enhance customer experience by allowing pets to travel with their owners [2] - The implementation of this service reflects a growing trend in the airline industry to accommodate pet owners [2] Group 2 - The service includes health checks for pets conducted by Eastern Airlines ground staff at the airport [5][6] - Passengers are required to ensure their pets are properly secured in pet carriers, which are then handled by the airline staff [10][11][12]

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 2025-062 中国东方航空股份有限公司 关于股份回购进展公告 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： | 股回购方案首次披露日 A | | 2024/8/30 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股回购方案实施期限 A | | 年 月 月 2024 | 11 | 8 | 日~2025 | 年 | 11 | 日 7 | | 预计回购 A | 股金额 | 2.5（含）亿元~5（不含）亿元 | | | | | | | | 回购用途 | | √减少注册资本 □用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | | | □为维护公司价值及股东权益 | | | | | | | | 累计已回购 | A 股股数 | 8,955.3 ...