Core Viewpoint - China Southern Airlines is focusing on enhancing inbound tourism and optimizing its operational structures to improve performance amid challenges such as passenger structure changes and high-speed rail competition [1][2]. Group 1: Company Strategy and Performance - The company is actively promoting inbound tourism through personalized products and collaborations with tourism departments, launching initiatives like the "Explore China" program [1]. - In the first quarter, the company's performance declined compared to the previous year due to multiple factors, prompting a need for strategic adjustments [1]. - The company plans to implement a new round of five structural adjustments to enhance its core competitiveness in the aviation market [1]. Group 2: Market Outlook and Growth Drivers - The national civil aviation conference forecasts an 8.4% increase in total transport turnover and a 6.9% increase in passenger transport volume by 2025, indicating a stable growth trajectory for domestic passenger demand [2]. - Future profit growth is expected to be driven by lean management, improved aircraft utilization, strict cost control, and enhanced revenue management [2]. - The company aims to strengthen its hub network strategy and expand international cooperation to enhance its international operational capabilities [2]. Group 3: Industry Trends - Domestic route demand has exceeded 2019 levels for two consecutive years, with expectations for further recovery in business and tourism travel by 2025 [3]. - The international demand is anticipated to recover rapidly due to policies like the Belt and Road Initiative and visa-free policies [3]. - The company achieved a passenger load factor of 85.4% in the first quarter, surpassing the industry average, and plans to enhance market monitoring to align capacity and pricing with demand [3].

中新网广州4月30日电 (记者 郭军)4月29日，中国南方航空(以下简称"南航")首飞广州经莫尔兹比港至瓦 努阿图首都维拉港的客运航班，实现了中国内地至南太平洋岛国瓦努阿图的首次试运行，这也标志着中 国民航通航国家数量增至79个。 广州至瓦 据悉，继南航开通广州至南太平洋岛国巴布亚新几内亚首都莫尔兹比港直飞航线496天后，南航在4月29 日首次试运行广州经莫尔兹比港至另一个南太平洋岛国瓦努阿图首都维拉港的客运航线，并计划在5月6 日试运行第2班。CZ5307航班01:30从广州起飞，10:45抵达莫尔兹比港，停留1小时20分钟后，12:05从 莫尔兹比港起飞，17:00抵达瓦努阿图首都维拉港。次日回程航班号为CZ5308，07:30从维拉港起飞，于 10:45抵达莫尔兹比港，停留2小时后，12:45从莫尔兹比港起飞，17:45返回广州(以上均为当地时间)。 瓦努阿图位于南太平洋西部，地处澳大利亚布里斯班以东1900公里，斐济以西800公里，首都维拉港， 于1982年3月26日和我国建交。瓦努阿图属热带海洋性气候，旅游资源丰富，被誉为潜水天堂，旅游业 和农业是其支柱产业。 为保障旅客顺利出行，南航在广州白云国际 ...

海南航空方面表示，目前在北京首都机场运营国际及地区往返航线共23条，航线网络覆盖了美加墨、欧 洲多国、俄罗斯、日本、泰国等地区，周航班量已达每周100班。该航司对多条热门国际及地区航线进 行了增频，目前北京首都—蒂华纳—墨西哥城、北京首都—曼彻斯特、北京首都—莫斯科、北京首都— 大阪航线均已达到每天1班。 "五一"假期临近，多家航司近期发布最新航线计划，将加大在京运力投放，新增或加密北京航线。 "五一"假期，东方航空北京大兴至广州、深圳、昆明等热门旅游城市航线将更换大机型，确保运力供需 平衡。4月28日东方航空开通了上海浦东至阿布扎比航线，是国内首家执飞此航线的航司，北京旅客可 以通过经上海中转联运的行程抵达阿布扎比。 东方航空旗下中国联合航空加大运力资源投入，截至目前，北京大兴-郴州、北京大兴-北海、北京大兴- 九华山、北京大兴-怀化、北京大兴-鄂尔多斯-吐鲁番位列旅客选择最多的前五位航线。北京出发到日本 大阪、俄罗斯符拉迪沃斯托克、老挝万象国际航线受到旅客欢迎，该航司还将开通俄罗斯、日韩、东南 亚等方向更多国际航线。 4月28日至5月7日，南方航空计划在北京大兴至揭阳、桂林、常德、赣州、南充、长春等热门目 ...

Financial Performance - Operating revenue for Q1 2025 was CNY 43,407 million, a decrease of 2.68% compared to CNY 44,601 million in the same period last year[7]. - Net profit attributable to shareholders was CNY -747 million, compared to CNY 756 million in the previous year, indicating a significant loss[7]. - Basic earnings per share for the period were CNY -0.04, down from CNY 0.04 in the same period last year[7]. - The company reported a weighted average return on net assets of -2.17%, down from 2.03% in the previous year[7]. - The diluted earnings per share decreased compared to the same period last year, impacted by changes in passenger composition and other factors[11]. - Net profit for Q1 2025 was -369 million RMB, a significant decline from a net profit of 1,256 million RMB in Q1 2024[28]. - The company reported an operating profit of -69 million RMB for Q1 2025, compared to an operating profit of 1,519 million RMB in Q1 2024[27]. Cash Flow and Liquidity - Net cash flow from operating activities decreased by 54.67% to CNY 4,432 million from CNY 9,777 million year-on-year[7]. - The net cash flow from operating activities was 4,432 million RMB in Q1 2025, down from 9,777 million RMB in Q1 2024, reflecting a decline of 54.7%[34]. - The total cash paid for operating activities in Q1 2025 was 42,609 million RMB, compared to 40,142 million RMB in Q1 2024, representing an increase of 6.1%[34]. - The cash inflow from financing activities in Q1 2025 was 22,031 million RMB, significantly higher than 7,376 million RMB in Q1 2024, indicating increased borrowing[35]. - The company reported a net increase in cash and cash equivalents of -1,092 million RMB in Q1 2025, contrasting with a positive increase of 161 million RMB in Q1 2024[35]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 330,243 million, a slight increase of 0.15% from CNY 329,738 million at the end of the previous year[7]. - Total liabilities as of March 31, 2025, amounted to 278,017 million RMB, a slight increase from 277,143 million RMB at the end of 2024[22]. - Non-current liabilities totaled 141,857 million RMB as of March 31, 2025, compared to 138,741 million RMB at the end of 2024, marking a 1.53% increase[22]. - The company's total equity attributable to shareholders was 33,982 million RMB as of March 31, 2025, down from 34,729 million RMB at the end of 2024[22]. - The company's total non-current liabilities decreased to RMB 29,853 million from RMB 35,457 million, a reduction of approximately 15.93%[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 150,753[13]. - China Southern Airlines Group Co., Ltd. holds 51.90% of the shares, amounting to 9,404,468,936 shares[13]. - The top ten shareholders collectively hold significant stakes, with the second-largest being Nanjing Long Holdings Co., Ltd. at 14.41%[13]. - The number of shares held by the top ten unrestricted shareholders includes significant holdings by state-owned and foreign entities[14]. Operational Challenges - The net profit attributable to shareholders decreased due to changes in passenger composition, high-speed rail impacts, global supply chain tensions, and RMB depreciation[11]. - The company is facing challenges from global supply chain issues and currency fluctuations, which are affecting overall performance[11]. - The financial report has not been audited, indicating preliminary figures[5]. - The company has not disclosed specific future outlook or guidance in this report[3]. - The company has not disclosed any new strategies or product developments in the current reporting period[11]. Other Financial Metrics - Non-recurring gains and losses totaled CNY 413 million for the period, with significant contributions from asset disposals and other operating income[9]. - The company's cash and cash equivalents stood at RMB 14,477 million, down from RMB 15,994 million, indicating a decline of approximately 9.49%[19]. - The company's long-term equity investments increased to RMB 7,418 million from RMB 7,168 million, reflecting a growth of about 3.48%[20]. - The company's fixed assets rose to RMB 103,625 million from RMB 100,691 million, an increase of approximately 2.91%[20]. - The company recorded other income of 1,006 million RMB in Q1 2025, an increase from 767 million RMB in Q1 2024[27].

证券代码：600029 证券简称：南方航空 公告编号：临 2025-024 中国南方航空股份有限公司 关于授权厦门航空有限公司向下属子公司 提供担保额度的公告 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。 一、本次担保情况概述 2025 年 4 月 29 日，本公司第十届董事会第七次会议在广 州市白云区齐心路 68 号中国南方航空大厦 33 楼 3301 会议室 以现场会议结合视频会议的方式召开，一致审议同意厦门航空 在 2025 年 7 月 1 日至 2026 年 6 月 30 日期间： 向河北航空新增担保 13.5 亿元人民币或等值外币，期间最 高余额不超过人民币 36.1 亿元或等值外币；向 SPV 公司新增 担保 1.8 亿元人民币或等值外币，期间最高余额不超过人民币 25 亿元或等值外币；向厦航租赁及其 SPV 提供新增及期间最 高余额不超过 6 亿元人民币或等值外币的担保；在江西航空的 其他出资方以其出资比例提供相应担保的前提下，厦门航空按 出资比例为江西航空新增担保 6 亿元人民币或等值外币，期间 最高余额不 ...

证券代码：600029 证券简称：南方航空 公告编号：临 2025-025 中国南方航空股份有限公司 "提质增效重回报"2024 年度评估报告暨 2025 年度行动方案 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。 2024 年，公司着力提升市场核心竞争力，全力推动经营提 质增效。落实"两匹配两加强（运力与市场匹配、运量与运价匹 配、加强座位管控、加强客户基础）、边际贡献总量最大化"策 略，抢抓市场恢复机会；深化客户经营体系建设，强化客户分群 分类运营，采用多种措施提升触达转化效果；深化成本经营责任 体系建设，优化战略性、结构性、源头性成本的管理机制；稳步 提升货机经营能力，布局中东、中东欧等新兴市场，深化与国内 头部快递企业合作，国内首家实现跨境电商带电货物常态化运输。 全年公司旅客运输量 1.65 亿人次，货邮运输量 183 万吨，同比 分别增长 15.8%、15.7%；实现营业收入 1742.24 亿元，同比增长 8.94%。 2025 年，公司将积极开拓市场，开展精益成本管控。强化 运力配置，着力提高飞机日利用率， ...

关于召开2024年年度股东会的通知 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。 重要内容提示： 一、 召开会议的基本情况 (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"）2024年年度股东会 召开的日期时间：2025 年 5 月 23 日 9 点 00 分 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 股东会召开日期：2025年5月23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 证券代码：600029 证券简称：南方航空 公告编号：2025-026 中国南方航空股份有限公司 (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 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 5 月 23 日 至2025 年 5 月 23 日 采用上海证券交易所网络 ...

证券代码：600029 证券简称：南方航空 公告编号：临 2025-023 中国南方航空股份有限公司 第十届监事会第六次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 2025 年 4 月 29 日，中国南方航空股份有限公司（以下简称 "本公司""公司"）第十届监事会第六次会议在广州市白云区 齐心路 68 号中国南方航空大厦 34 楼 33A12 会议室以现场会议 方式召开。应出席会议监事 3 人，实际出席会议监事 3 人，任积 东 监事因公未亲自出席本次会议，授权魏振兴监事代为出席会议并 表决。本次会议由魏振兴监事主持，公司部分高级管理人员列席。 本次会议的通知和资料已以书面方式发出。会议的召开及表决等 程序符合《中华人民共和国公司法》、本公司章程和本公司监事 会议事规则的有关规定。 二、监事会会议审议情况 经出席本次监事会的监事审议并表决，一致通过以下议案： 1 （一）关于公司 2025 年第一季度报告的议案； 公司监事会全体成员对公司 2025 年第一季度报告进行了审 核，发表意见 ...

证券代码：600029 证券简称：南方航空 公告编号：临2025-022 中国南方航空股份有限公司 第十届董事会第七次会议决议公告 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。 一、董事会会议召开情况 2025 年 4 月 29 日，中国南方航空股份有限公司（以下简称 "本公司""公司"）第十届董事会第七次会议在广州市白云区 齐心路 68 号中国南方航空大厦 33 楼 3301 会议室以现场会议结 合视频会议的方式召开。本次会议应出席会议董事 5 人，实际出 席会议董事 5 人，张俊生董事因公未亲自出席本次会议，授权郭 为董事代为出席会议并表决。本次会议由董事长马须伦先生主持， 公司部分监事及部分高级管理人员列席。本次会议的通知和资料 已以书面方式发出。会议的召开及表决等程序符合《中华人民共 和国公司法》以及本公司章程的有关规定。 二、董事会会议审议情况 经出席本次董事会的董事审议并表决，一致通过以下议案： 1 表决情况：同意 5 票、反对 0 票、弃权 0 票，表决结果：通 过。 （二）关于厦门航空有限公司提供担保的议案 ...

Financial Performance - The operating revenue for the first quarter was RMB 43,407 million, a decrease of 2.68% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of RMB 747 million, compared to a profit of RMB 756 million in the previous year, indicating a significant decline[4] - The net loss for Q1 2025 was 1,518 million RMB, compared to a profit of 146 million RMB in Q1 2024[18] - The net profit for the first quarter of 2025 was -369 million RMB, compared to a net profit of 1,256 million RMB in the same period of 2024, representing a decline of 129.4%[19] - The total comprehensive income attributable to the parent company was -747 million RMB, compared to 756 million RMB in the same period last year[19] - The total profit for the first quarter was 33 million RMB, a decrease of 97.9% from 1,583 million RMB in the previous year[19] Cash Flow and Liquidity - The net cash flow from operating activities was RMB 4,432 million, down 54.67% year-on-year, primarily due to increased cash payments for goods and services exceeding cash inflows[5] - Cash flow from operating activities generated a net amount of 4,432 million RMB, down 54.7% from 9,777 million RMB in the first quarter of 2024[20] - Cash and cash equivalents decreased from 15,994 million RMB as of December 31, 2024, to 14,477 million RMB as of March 31, 2025[14] - Cash and cash equivalents at the end of the first quarter of 2025 totaled 11,892 million RMB, a decrease from 9,692 million RMB at the end of the first quarter of 2024[21] - The company experienced a net cash outflow from investing activities of -2,197 million RMB, an improvement from -3,649 million RMB in the previous year[21] - Total cash inflow from financing activities was 22,031 million RMB, compared to 7,376 million RMB in the first quarter of 2024, indicating a significant increase of 198.5%[21] - The company incurred a total operating cash outflow of 42,609 million RMB, which is an increase from 40,142 million RMB year-over-year[20] Assets and Liabilities - Total assets at the end of the reporting period were RMB 330,243 million, a slight increase of 0.15% from the end of the previous year[5] - The total assets as of March 31, 2025, were 330,243 million RMB, a slight increase from 329,738 million RMB at the end of 2024[17] - The total liabilities increased from 277,143 million RMB at the end of 2024 to 278,017 million RMB as of March 31, 2025[16] - The company's long-term borrowings stood at 36,394 million RMB, up from 35,985 million RMB at the end of 2024[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 150,753[9] - The largest shareholder, China Southern Airlines Group Co., Ltd., holds 51.90% of the shares, totaling 9,404,468,936 shares[9] Earnings and Profitability - The basic earnings per share were -0.04 RMB, compared to 0.04 RMB in the same period last year, reflecting a negative performance shift[5] - The weighted average return on equity was -2.17%, compared to 2.03% in the same period last year, indicating a decline in profitability[5] - The total operating profit for the first quarter was -69 million RMB, a significant decrease from 1,519 million RMB year-over-year[19] Other Financial Metrics - The company reported non-recurring gains and losses totaling RMB 413 million, with significant contributions from asset disposals and government subsidies[6] - The company reported a decrease in employee compensation payable from 4,716 million RMB in Q4 2024 to 3,275 million RMB in Q1 2025[16] - The company’s research and development expenses increased to 160 million RMB in Q1 2025, compared to 134 million RMB in Q1 2024[18] - The total operating costs for Q1 2025 were 44,225 million RMB, slightly higher than Q1 2024's 44,147 million RMB[18]