证券代码：600029 证券简称：南方航空 公告编号：临 2026-002 中国南方航空股份有限公司 2025 年 12 月主要运营数据公告 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。 2025年12月，本集团引进8架飞机（包含3架A320NEO飞机、 3架A321NEO飞机、1架B737-8飞机和1架C919飞机），退出2架 飞机（包含1架A321飞机和1架B737-700飞机）。截至2025年12 月底，本集团合计运营972架运输飞机，具体保有情况如下： | 机型 | 自行保有 | 融资租赁 | 经营租赁 | 小计 | | --- | --- | --- | --- | --- | | 空客 350 系列 | 6 | 14 | 0 | 20 | | 空客 330 系列 | 10 | 15 | 0 | 25 | | 空客 320 系列 | 152 | 110 | 146 | 408 | | 波音 787 系列 | 13 | 20 | 10 | 43 | | 波音 777 系列 | 19 | 15 | 0 | 34 | ...

货运方面，2025年12月，货运运力投入（按可利用吨公里—货邮运计）同比上升19.28%；货邮周转量 （按收入吨公里—货邮运计）同比上升10.86%；货邮载运率为51.95%，同比下降3.95个百分点。 格隆汇1月15日丨南方航空(600029.SH)公布，2025年12月，中国南方航空股份有限公司及所属子公司客 运运力投入（按可利用座公里计）同比上升11.89%，其中国内、地区和国际分别同比上升6.81%、 2.80%和25.76%；旅客周转量（按收入客公里计）同比上升11.20%，其中国内、地区和国际分别同比上 升6.88%、5.72%和22.77%；客座率为84.05%，同比下降0.53个百分点，其中国内和地区分别同比上升 0.05和2.16个百分点，国际同比下降2.03个百分点。 2025年12月，本集团新增主要航线情况如下：广州-嘉兴-广州（每周七班）、广州-达尔文-广州（每周 三班）、广州-马德里-广州（每周三班）。 2025年12月，本集团引进8架飞机（包含3架A320NEO飞机、3架A321NEO飞机、1架B737-8飞机和1架 C919飞机），退出2架飞机（包含1架A321飞机和1架B737 ...

格隆汇1月15日丨南方航空(600029.SH)公布，2025年12月，中国南方航空股份有限公司及所属子公司客 运运力投入（按可利用座公里计）同比上升11.89%，其中国内、地区和国际分别同比上升6.81%、 2.80%和25.76%；旅客周转量（按收入客公里计）同比上升11.20%，其中国内、地区和国际分别同比上 升6.88%、5.72%和22.77%；客座率为84.05%，同比下降0.53个百分点，其中国内和地区分别同比上升 0.05和2.16个百分点，国际同比下降2.03个百分点。 货运方面，2025年12月，货运运力投入（按可利用吨公里—货邮运计）同比上升19.28%；货邮周转量 （按收入吨公里—货邮运计）同比上升10.86%；货邮载运率为51.95%，同比下降3.95个百分点。 2025年12月，本集团新增主要航线情况如下：广州-嘉兴-广州（每周七班）、广州-达尔文-广州（每周 三班）、广州-马德里-广州（每周三班）。 2025年12月，本集团引进8架飞机（包含3架A320NEO飞机、3架A321NEO飞机、1架B737-8飞机和1架 C919飞机），退出2架飞机（包含1架A321飞机和1架B737 ...

Group 1 - The core point of the article is that China Southern Airlines (600029) announced an increase in passenger capacity and turnover for 2025, while the passenger load factor experienced a slight decline [1] Group 2 - The group's passenger capacity input is expected to rise by 11.89% year-on-year [1] - The passenger turnover volume is projected to increase by 11.2% year-on-year [1] - The passenger load factor stands at 84.05%, reflecting a year-on-year decrease of 0.53 percentage points [1]

南方航空公告，2025年12月，中国南方航空股份有限公司及所属子公司客运运力投入（按可利用座公里 计）同比上升11.89%，其中国内、地区和国际分别同比上升6.81%、2.80%和25.76%；旅客周转量（按 收入客公里计）同比上升11.20%，其中国内、地区和国际分别同比上升6.88%、5.72%和22.77%；客座 率为84.05%，同比下降0.53个百分点，其中国内和地区分别同比上升0.05和2.16个百分点，国际同比下 降2.03个百分点。 ...

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) has disclosed the 2024 salary information of over 80 central enterprise leaders, emphasizing the importance of transparency in key areas and responding to public concerns [1] Group 1: Salary Disclosure - The salary information for the leaders of China Petroleum and Chemical Corporation (Sinopec) has been disclosed, including details such as position, tenure, and total pre-tax remuneration [2][3] - The disclosed salaries include various components such as social insurance, corporate annuities, supplementary medical insurance, and housing provident fund contributions [4] - The total pre-tax salary for Sinopec's Chairman, Ma Yongsheng, is reported at 935,500 RMB, with additional income from allowances [3] Group 2: Other Central Enterprises - The salary information for China Southern Power Grid and China Southern Airlines has also been disclosed, with specific figures for each leader's pre-tax remuneration [5][6][7] - For China Southern Power Grid, the Chairman Meng Zhenping's salary is reported at 958,300 RMB, while other executives have varying salaries based on their roles and tenures [5] - In China Southern Airlines, the Chairman Ma Xulun's salary is reported at 850,500 RMB, with other executives receiving salaries in a similar range [6][7] Group 3: Additional Notes - The disclosed salaries represent the total pre-tax remuneration for the reporting period and do not include performance bonuses from previous years [3][5][6]

Group 1 - The global interest rate cut cycle is entering its second half in 2026, characterized by "internal and external easing resonance" and a shift from "extraordinary to normal" [3][4][5] - The macro liquidity environment remains favorable, with the People's Bank of China expected to maintain a moderately loose monetary policy, focusing on stabilizing economic growth and reasonable price recovery [7][59] - The depreciation of the US dollar is anticipated due to continued interest rate cuts by the Federal Reserve and worsening fiscal conditions, which will support the appreciation of the RMB and strengthen the A-share market [8][62][63] Group 2 - The long-term low interest rate environment is reshaping the stock-bond allocation logic, with a shift towards equity markets as the attractiveness of fixed income products continues to rise [13][16][44] - The "stock-bond seesaw" effect is expected to further support the A-share market, as funds flow into equities amid a low interest rate environment [14][17][44] - The demand for "deposit migration" from residents is projected to become the largest marginal increment for the market, as a significant amount of fixed-term deposits mature in 2026 [19][20][44] Group 3 - The capital market's status is significantly upgraded in the post-real estate era, becoming a core hub for economic development and resource allocation [22][47] - Policies are being implemented to enhance shareholder returns, with a focus on increasing dividend payouts and improving profit quality, which is becoming a trend in the market [32][33][56] - The overall funding ecology is improving, with a transition from a "financing-oriented" approach to a "balanced investment and financing" model, enhancing market attractiveness and stability [32][47][56]

Core Viewpoint - Harbin's winter tourism is experiencing a surge in visitor numbers, prompting China Southern Airlines (CSA) to implement innovative measures to enhance the travel experience for passengers visiting the city [1]. Group 1: Ice and Snow Theme Initiatives - CSA has developed customized in-flight services that include special broadcasts about Harbin's cultural and tourism offerings, enhancing passenger awareness and connection to the city [4]. - The airline has organized themed flights celebrating the "Ice and Snow Festival," allowing passengers to experience local delicacies and the beauty of Harbin during their journey [4]. Group 2: Warm Services in Cold Weather - CSA has opened a new high-end lounge at Harbin Taiping International Airport, providing a comfortable waiting environment for travelers [5]. - The airline offers temporary winter clothing for passengers who are inadequately dressed and provides hot drinks for those waiting for luggage [5]. - CSA has optimized boarding procedures to minimize outdoor waiting times and has implemented safety measures to prevent slips and falls in icy conditions [5]. Group 3: Services for Late Arrivals and Special Needs - CSA has introduced a "One-Minute Boarding" service for late passengers on specific routes, allowing them to board up to 15 minutes before departure [7]. - The airline has established dedicated check-in counters for large groups and educational tours, ensuring a smooth travel experience for all passengers [7]. - A special service for pet owners has been launched, allowing pets to travel in the cabin, addressing concerns about cold weather [7]. Group 4: Expansion of Flight Services - CSA plans to open new routes and increase the frequency of flights from Harbin to various destinations, including the addition of flights to Mohe and increased services to major cities [8]. - The airline is actively engaging in live broadcasts to promote Harbin's tourism and cultural heritage, reaching a wide audience and enhancing the region's tourism economy [8]. Group 5: Training and Development Initiatives - CSA has launched its first FNPT simulator in Heilongjiang, marking a significant step in local pilot training and supporting the airline's strategic goals [9]. - The simulator will facilitate customized training programs, improving pilots' operational skills and knowledge [9]. - The introduction of advanced training equipment is expected to enhance aviation education and tourism experiences in Harbin [9].

Group 1 - The Hong Kong aviation stocks are experiencing a continuous decline, with China Southern Airlines dropping over 3%, China Eastern Airlines falling by 2.3%, and Air China decreasing by 1.8% [1] - All three airlines have recorded a four-day losing streak [1]

Group 1 - The core viewpoint is that Hong Kong airline stocks are experiencing a decline, with China Southern Airlines dropping over 3%, China Eastern Airlines down 2.3%, and Air China falling 1.8%, marking four consecutive days of losses [1] - The winter travel market is expected to see a peak travel window for nearly a month after the New Year holiday, with online travel platforms indicating that current domestic flight and hotel prices are approximately 40% cheaper compared to the upcoming Spring Festival travel period [1] - Geopolitical tensions are causing oil prices to rise, which is a significant headwind for airline stocks and may lead to short-term volatility; however, the long-term stock price trends will be determined by fundamental factors such as industry supply and demand dynamics, oil price and exchange rate trends, and the companies' operational capabilities [1] Group 2 - The latest stock prices and changes for major Chinese airlines are as follows: China Eastern Airlines at 5.110 with a decrease of 2.85%, China Southern Airlines at 5.530 down 2.30%, and Air China at 6.820 down 1.87% [2]