Investment Rating - The industry investment rating is "Recommended" [2] Core Viewpoints - Continuous efforts to combat "involution" in the aviation industry are underway, with expectations for ticket prices to stabilize and improve [9] - The demand side remains resilient due to endogenous growth in domestic demand and ongoing recovery in international routes [9] - Supply constraints are expected to persist, and a decrease in oil prices will alleviate cost pressures [9] - Positive outlook on domestic regional market leader Huaxia Airlines and low-cost airline leader Spring Airlines, which leverage their core competitiveness to optimize "traffic-cost-price" dynamics [9] - Anticipation of elasticity release from major airlines represented by Air China, with a favorable recovery in international routes and efficient operation of wide-body aircraft expected to benefit Juneyao Airlines [9] Summary by Sections 1. Airline Data Analysis for July - In July, the overall ASK (Available Seat Kilometers) growth rates were led by Spring Airlines (10.4%), followed by Eastern Airlines (7.4%), Southern Airlines (6.7%), Air China (2.3%), and Juneyao Airlines (-3.0%) [2] - RPK (Revenue Passenger Kilometers) growth rates for July were highest for Eastern Airlines (9.4%), followed by Spring Airlines (8.6%), Southern Airlines (7.3%), Air China (2.2%), and Juneyao Airlines (-3.2%) [2] - Cumulative ASK growth from January to July showed Spring Airlines (9.6%) leading, followed by Eastern Airlines (7.5%) and Southern Airlines (5.7%) [2] - Cumulative RPK growth for the same period was highest for Eastern Airlines (11.8%) [2] 2. Passenger Load Factor - In July, the passenger load factor was highest for Spring Airlines at 91.9%, followed by Juneyao Airlines and Eastern Airlines both at 84.8% [4] - Cumulative load factor from January to July showed Spring Airlines at 90.7%, with Southern Airlines at 85.3% [4] 3. Fleet Size - As of July 2025, the five listed airlines collectively added 7 aircraft, with a year-on-year fleet size increase of 3.5% [4]

Core Viewpoint - China International Airlines reported an increase in passenger turnover and cargo turnover for July 2025, indicating a positive trend in operational performance despite some declines in domestic and regional segments [1] Passenger Operations - The total passenger turnover (measured in revenue passenger kilometers) increased by 2.2% year-on-year in July 2025 - Passenger capacity (measured in available seat kilometers) rose by 2.3% year-on-year - Domestic passenger capacity decreased by 0.4%, with a corresponding decline in passenger turnover of 0.2% - International passenger capacity increased by 10.3%, with passenger turnover rising by 9.7% - Regional passenger capacity fell by 3.9%, with passenger turnover down by 3.4% - The average passenger load factor was 80.1%, a decrease of 0.1 percentage points year-on-year [1] Cargo Operations - Cargo capacity (measured in available cargo ton kilometers) increased by 3.3% year-on-year - Cargo and mail turnover (measured in revenue cargo ton kilometers) rose by 7.9% year-on-year - The cargo load factor was 42.9%, an increase of 1.8 percentage points year-on-year [1] Fleet Update - In July 2025, the group introduced 1 C919 aircraft, 1 A320 series aircraft, and 1 B737 series aircraft, while retiring 2 A330 series aircraft - As of the end of July 2025, the group operated a total of 935 aircraft, comprising 417 owned aircraft, 224 financed leased aircraft, and 294 operating leased aircraft [1]

Core Insights - The company reported an increase in passenger turnover volume (measured in revenue passenger kilometers) for July 2025 compared to the previous year [1] - The overall capacity input for passenger transport (measured in available seat kilometers) rose by 2.3% year-on-year, while passenger turnover volume increased by 2.2% [1] Domestic Operations - Domestic passenger capacity input decreased by 0.4% year-on-year, with passenger turnover volume also declining by 0.2% [1] - The average load factor for domestic routes increased by 0.1 percentage points year-on-year [1] International Operations - International passenger capacity input saw a significant increase of 10.3% year-on-year, with passenger turnover volume rising by 9.7% [1] - The average load factor for international routes decreased by 0.4 percentage points year-on-year [1] Regional Operations - Regional passenger capacity input declined by 3.9% year-on-year, with passenger turnover volume down by 3.4% [1] - The average load factor for regional routes increased by 0.3 percentage points year-on-year [1] Cargo Operations - Cargo capacity input (measured in available cargo ton kilometers) increased by 3.3% year-on-year, while cargo turnover volume (measured in revenue cargo ton kilometers) rose by 7.9% [1] - The cargo load factor was reported at 42.9%, an increase of 1.8 percentage points year-on-year [1] Fleet Update - In July 2025, the group introduced one C919 aircraft, one A320 series aircraft, and one B737 series aircraft, while retiring two A330 series aircraft [1] - As of the end of July 2025, the group operated a total of 935 aircraft, including 417 owned, 224 under finance leases, and 294 under operating leases [1]

Core Viewpoint - China International Airlines reported an increase in passenger turnover and cargo capacity in July 2025, indicating a positive trend in operational performance despite some declines in domestic and regional segments [1] Passenger Operations - The combined passenger turnover (measured in revenue passenger kilometers) increased by 2.2% year-on-year [1] - Passenger capacity (measured in available seat kilometers) rose by 2.3% year-on-year [1] - Domestic passenger capacity decreased by 0.4%, with a corresponding decline in passenger turnover of 0.2% [1] - International passenger capacity increased by 10.3%, with passenger turnover rising by 9.7% [1] - Regional passenger capacity fell by 3.9%, with passenger turnover down by 3.4% [1] - The average passenger load factor was 80.1%, a slight decrease of 0.1 percentage points year-on-year [1] - Domestic routes saw a load factor increase of 0.1 percentage points, while international routes decreased by 0.4 percentage points, and regional routes increased by 0.3 percentage points [1] Cargo Operations - Cargo capacity (measured in available cargo ton kilometers) increased by 3.3% year-on-year [1] - Cargo and mail turnover (measured in revenue cargo ton kilometers) rose by 7.9% year-on-year [1] - The cargo load factor was 42.9%, an increase of 1.8 percentage points year-on-year [1] Fleet Update - In July 2025, the group introduced one C919 aircraft, one A320 series aircraft, and one B737 series aircraft, while retiring two A330 series aircraft [1] - As of the end of July 2025, the group operated a total of 935 aircraft, comprising 417 owned, 224 under finance leases, and 294 under operating leases [1]

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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不會就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。 中國北京，二零二五年八月十五日 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00753） 二零二五年七月的主要營運數據公告 隨附公告（「上交所公告」）乃由中國國際航空股份有限公司（「中國國航」）於二零二五年八 月十五日在上海證券交易所刊發，其中載有中國國航及其附屬公司（統稱「本集團」）二零 二五年七月的合併營運數據。本公告附上上交所公告乃由中國國航根據香港聯合交易所 有限公司證券上市規則（「上市規則」）第13.09條及第13.10B條，以及香港法例第571章證 券及期貨條例第XIVA部項下之內幕消息條文（定義見上市規則）而作出。 隨附上交所公告載列的數據來自本集團內部統計，可能與相關期間定期報告披露的數據 有差異。投資者應注意不恰當信賴或使用以上信息可能造成投資風險。 承董事會命 中國國際航空股份有限公司 公司秘書 肖烽 於本公告日期，本公司的董事為馬崇賢先生、王明遠先生、崔曉峰先生、Pat ...

格隆汇8月15日丨中国国航(00753.HK)公告，公司将于2025年8月28日(星期四)举行董事会会议，藉以(其 中包括)审议及批准公司及其附属公司截至2025年6月30日止6个月中期业绩。 ...

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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就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。 00753 * 本公司獨立非執行董事 承董事會命 中國國際航空股份有限公司 公司秘書 肖烽 於本公告日期，本公司的董事為馬崇賢先生、王明遠先生、崔曉峰先生、 Patrick Healy（賀以禮）先生、肖鵬先生、徐念沙先生*、禾雲先生*、譚允芝女士*及 高春雷先生*。 董事會會議通告 茲通告中國國際航空股份有限公司（「本公司」）將於二零二五年八月二十八日（星期四）舉 行董事會會議，藉以（其中包括）審議及批准本公司及其附屬公司截至二零二五年六月三 十日止六個月之中期業績。 中國北京，二零二五年八月十五日 ...

Group 1 - The core viewpoint of the article highlights that China National Airlines reported an increase in passenger capacity and turnover for July, indicating a positive trend in operations [1] - The passenger capacity input, measured in available seat kilometers, rose by 2.3% year-on-year [1] - The passenger turnover increased by 2.2% year-on-year, reflecting a steady demand for air travel [1] - The average passenger load factor was 80.1%, which represents a slight decrease of 0.1 percentage points compared to the previous year [1]

证券代码：601111 股票简称：中国国航 公告编号：2025-034 中国国际航空股份有限公司 2025年7月主要运营数据公告 1 2025 年 7 月主要运营数据如下表： | | | | | | | 比上年 | | --- | --- | --- | --- | --- | --- | --- | | | | 本月实际 | 比上年同期 | 环比增长 | 当年累计 | 同期累 | | | | 完成数 | 1 增长(%) | 1 (%) | 完成数 | 计增长 | | | | | | | | 1 (%) | | 一、运输能力 | | | | | | | | 2 1、可用吨公里(百万) | | 4,091.4 | 2.5 | 13.2 | 26,519.7 | 3.6 | | 其中: | 国内航线 | 2,609.9 | -0.8 | 17.0 | 16,752.9 | -1.9 | | 国际航线 | | 1,377.8 | 10.1 | 7.1 | 9,069.0 | 16.3 | | 地区航线 | | 103.7 | -5.3 | 6.8 | 697.8 | -2.9 | | 3 2、可用座位公里(百万) ...

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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就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。 00753 董事會會議通告 茲通告中國國際航空股份有限公司（「本公司」）將於二零二五年八月二十八日（星期四）舉 行董事會會議，藉以（其中包括）審議及批准本公司及其附屬公司截至二零二五年六月三 十日止六個月之中期業績。 公司秘書 肖烽 中國北京，二零二五年八月十五日 於本公告日期，本公司的董事為馬崇賢先生、王明遠先生、崔曉峰先生、 Patrick Healy（賀以禮）先生、肖鵬先生、徐念沙先生*、禾雲先生*、譚允芝女士*及 高春雷先生*。 * 本公司獨立非執行董事 承董事會命 中國國際航空股份有限公司 ...