Group 1 - The core viewpoint of the news highlights the continued weakness in Hong Kong airline stocks, with China Eastern Airlines dropping over 5%, losing its market value below HKD 100 billion, while China Southern Airlines and Air China also experienced declines of 3% and 3.6% respectively [1] - As of now, the number of planned domestic flights to Japan from November 24 to December 31 has increased by approximately 56% compared to the same period last month [1] - Following the announcement of special ticketing plans for Japan routes by the three major airlines on November 15, there has been a noticeable decline in ticket bookings to Japan, with a reduction of about 29% in the future 60-day ticket bookings compared to the bookings made on November 15 [1] Group 2 - East Asia Securities believes that airlines with a significant proportion of international routes to Japan may face certain impacts due to the large passenger flow on these routes [1]

Core Viewpoint - China Southern Airlines' stock has experienced fluctuations, with a recent decline of 2.01% and a year-to-date increase of 4.93% [1][2]. Financial Performance - For the period from January to September 2025, China Southern Airlines reported a revenue of 137.67 billion yuan, representing a year-on-year growth of 2.23%. The net profit attributable to shareholders was 2.31 billion yuan, showing a year-on-year increase of 17.40% [2]. Stock Market Activity - As of November 25, the stock price was 6.81 yuan per share, with a market capitalization of 123.40 billion yuan. The trading volume was 51.94 million yuan, with a turnover rate of 0.06% [1]. - The net outflow of main funds was 3.83 million yuan, with large orders showing a buy of 7.81 million yuan and a sell of 11.55 million yuan [1]. Shareholder Information - As of September 30, 2025, the number of shareholders was 133,300, a decrease of 4.76% from the previous period. The average circulating shares per person remained at 0 [2][3]. - The top circulating shareholder, Hong Kong Central Clearing Limited, held 586 million shares, an increase of 4.32 million shares from the previous period [3].

Core Viewpoint - China Southern Airlines is convening its first extraordinary general meeting of shareholders in 2025 on December 12, 2025, to discuss various proposals approved by the board of directors [2][6]. Meeting Details - The meeting will take place on December 12, 2025, at 14:30 in the conference room on the 33rd floor of China Southern Airlines Building, Guangzhou, Guangdong Province [2][12]. - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's shareholder meeting voting system [2][3]. Voting Procedures - The online voting will be available on the day of the meeting from 9:15 to 15:00, with specific trading time slots for the voting platform [3]. - Shareholders can vote through either the trading system or the internet voting platform, with identity verification required for first-time users [7][8]. Agenda Items - The meeting will review proposals that have already been approved by the board, with specific items requiring special resolutions and separate counting for minority investors [6]. - Related shareholders, including China Southern Airlines Group Co., Ltd., are required to abstain from voting on certain proposals [6]. Attendance Requirements - Shareholders must register for the meeting between December 5 and December 8, 2025, and must present identification and shareholder account cards [12][13]. - The meeting is open to shareholders registered by the close of trading on the registration date, as well as company directors, supervisors, and appointed lawyers [9][10]. Additional Information - The company will provide reminders to minority investors about the meeting and voting through SMS notifications [7]. - Shareholders with multiple accounts can aggregate their voting rights across all accounts for the meeting [8].

（ 在 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：1055） 持有本公司普通股 股 現委任 4 , ， 地址為： 作為本人╱吾等的代理人，代表本人╱吾等出席中國南方航空股份有限公司（「本公司」或「公司」）在2025年12月12日（星 期五）下午2時30分假座中國廣東省廣州市白雲區齊心路68號中國南方航空大廈33樓3301會議室舉行的第一次臨時股 東會（「臨時股東會」，並於該臨時股東會代表本人╱吾等，依照本人╱吾等下列的指示就下列決議案投票 5 。 | | 普通決議案 | 5 贊成 | 5 反對 | 5 棄權 | | --- | --- | --- | --- | --- | | 1 | 關於廈門航空有限公司2026年度提供擔保的議案 | | | | | 2 | 關於公司與中國南航集團財務有限公司續簽《金融服務框 | | | | | | 架協議》暨關聯交易事項的議案 | | | | | 3 | 關於公司與南航國際融資租賃有限公司續簽《融資與租賃 | | | | | | 服務框架協議》暨關聯交易事項的議案 | | | | | | 特別決議案 | 5 贊成 | 5 反對 ...

Core Viewpoint - The article discusses the significant reduction and cancellation of flights between China and Japan due to recent political tensions, affecting travel plans for the upcoming winter and spring seasons [1][2]. Flight Reductions and Cancellations - Starting December 1, 16 Chinese airlines will reduce weekly flights to Japan by 156, with the most significant cuts from Juneyao Airlines, which will decrease its flights from 114 to 79 per week, a reduction of 31% [1]. - China Southern Airlines, Shenzhen Airlines, and Eastern Airlines will also see reductions of 23, 22, and 18 flights per week, respectively [1]. - The cancellation rate for planned flights to Japan is projected to reach 21.6% by November 27, with 12 routes already canceling all flights [1][2]. Impact on Travelers - The reduction in flights coincides with the peak travel season for skiing and hot springs in Japan, leading to potential disruptions for travelers planning winter trips [2]. - Specific routes with high cancellation rates include Tianjin Binhai to Kansai International (65.0%) and Nanjing Lukou to Kansai International (59.4%) [2]. Aircraft Type Adjustments - Airlines are not only reducing flight frequencies but also changing aircraft types to smaller models, such as switching from the Airbus A330-300 to the A321, which has a lower passenger capacity [3]. - Some airlines, like Shandong Airlines and Xiamen Airlines, have not made any adjustments to their Japan routes [3]. Price Increases - Spring Airlines has raised the minimum ticket prices for several routes, with the lowest fare for Shanghai to Okinawa reaching 42,900 JPY (approximately 2,000 CNY) [4]. Summary of Adjustments by Airlines - A detailed table lists various airlines and their specific route adjustments, including reductions in frequency and cancellations, with some airlines maintaining their original schedules [5][6][7].

審 議 及 酌 情 批 准 下 列 決 議 案 為 普 通 決 議 案： 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通告的內 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 不對因本通告全部或任何部份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：1055） 臨時股東會通告 茲通告 中 國 南 方 航 空 股 份 有 限 公 司（「本公司」或「公 司」）將 於2025年12月 12日（星 期 五）下 午 二 時 三 十 分 假 座 中 國 廣 東 省 廣 州 市 白 雲 區 齊 心 路68 號中國南方航空大廈33樓3301會議室舉行2025年 第 一 次 臨 時 股 東 會（「臨 時股東會」），以 考 慮 酌 情 批 准 下 列 決 議 案。除 另 有 指 明 外，本 通 告 所 用 詞彙與本公司日期為2025年11月25日 之 通 函（「該通函」）所 界 定 者 具 有 相 同 涵 義： 普通決議案 1. 關於 ...

此乃要件 請即處理 閣下對本通函任何方面如有任何疑問，應諮詢 閣下之股票經紀或其他註冊證券交易商、銀行經理、 律師、專業會計師或其他專業顧問。 閣下如已將名下全部之中國南方航空股份有限公司股份售出或轉讓，應立即將本通函交予買主或 承讓人或經手買賣之銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 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通函之內容概不負責，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本通函全部或任何部分內容而產生或因倚賴該等 內容而引致之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：1055） (1) 有關金融服務框架協議的主要及關連交易及持續關連交易； (2) 有關2026–2028年融資和租賃服務框架協議的須予披露及主要交易及 持續關連交易； (3) 授權廈門航空有限公司向下屬子公司提供擔保額度； (4) 建議修訂公司章程及議事規則並取消監事會；及 (5) 臨時股東會通告 獨立董事委員會及獨立股東之獨立財務顧問 本公司將於2025年12月12日（星期五）下午二時三十分假座中國廣東省廣州市白雲 ...

Core Viewpoint - The impact of recent comments from the Japanese Prime Minister has led to significant reductions and cancellations of flights between China and Japan, affecting travel plans during the peak winter and spring festival seasons. Group 1: Flight Reductions and Cancellations - Starting from December 1, Chinese airlines will face substantial reductions and cancellations of flights to Japan, with adjustments expected to last until the end of March 2026 [1] - A total of 16 Chinese airlines will reduce weekly flights to Japan by 156, with the largest reduction from Juneyao Airlines, cutting 35 flights per week, which is 31% of its total Japan routes [1] - China Southern, Shenzhen Airlines, and China Eastern will also reduce flights by 23, 22, and 18 per week, respectively [1] Group 2: Cancellation Rates and Specific Routes - The cancellation rate for planned flights to Japan is projected to reach 21.6% by November 27, with 12 routes already canceling all flights [2] - Among the top 20 routes, the highest cancellation rates include Tianjin Binhai to Kansai International at 65.0%, Nanjing Lukou to Kansai International at 59.4%, and Guangzhou Baiyun to Kansai International at 31.3% [2] - Smaller airlines, such as Beijing Capital Airlines, have also announced significant cancellations, including all flights on certain routes from December 9 to March 3 [2] Group 3: Aircraft Type Adjustments - Airlines are not only reducing flight frequencies but also changing aircraft types to smaller models, such as switching from the Airbus A330-300 to the A321, which has a lower passenger capacity [3] - Some airlines, like Shandong Airlines and Xiamen Airlines, have not made any changes to their Japan flight plans [3] - The overall trend indicates a reduction in capacity on China-Japan routes, leading to increased travel costs for consumers during the New Year and Spring Festival [3] Group 4: Price Increases - Spring Airlines has raised the minimum ticket prices on several routes, with one route's lowest fare increasing to 42,900 yen, indicating a trend of rising travel costs [3]

证券代码：600029 证券简称：南方航空 公告编号：2025-059 中国南方航空股份有限公司 关于召开2025年第一次临时股东会的通知 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。 (一) 股东会类型和届次 中国南方航空股份有限公司（以下简称"公司""本公司"）2025年第一次临 时股东会 召开的日期时间：2025 年 12 月 12 日 14 点 30 分 股东会召开日期：2025年12月12日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 召开地点：中国广东省广州市白云区齐心路 68 号中国南方航空大厦 33 楼 3301 会议室 重要内容提示： 一、 召开会议的基本情况 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者 的投票，应按照《上海证券交易所上市公司自律监管指引 ...

2025 年第一次临时股东会 中国南方航空股份有限公司 CHINA SOUTHERN AIRLINES CO., LTD. 2025 年第一次临时股东会 会议资料 2025 年 11 月 25 日 1 | 一、会议须知··········································3 | | --- | | 二、会议议程··········································5 | | 三、会议议案··········································7 | 2025 年第一次临时股东会 中国南方航空股份有限公司 2025 年第一次临时股东会会议须知 尊敬的各位股东及股东代表： 为确保中国南方航空股份有限公司（以下简称"本公司""公 司"）股东在公司 2025 年第一次临时股东会（以下简称"临时 股东会"）期间依法行使股东权利，保证临时股东会的会议秩序 和议事效率，依据中国证券监督管理委员会《上市公司股东会规 则》及《中国南方航空股份有限公司章程》（以下简称"《公司 章程》"）、《中国南方航空股份有限公司股东会议事规则》的 有关规定 ...