Core Viewpoint - China Eastern Airlines Corporation Limited announced the cancellation of 114 million repurchased H-shares and 89.5539 million repurchased A-shares, effective November 11, 2025 [1] Summary by Category - **Share Repurchase** - The company will cancel a total of 114 million H-shares that have been repurchased [1] - Additionally, 89.5539 million A-shares will also be canceled [1] - **Effective Date** - The cancellation of the shares will take effect on November 11, 2025 [1]

Core Viewpoint - China Eastern Airlines Corporation Limited (00670) announced the cancellation of 114 million repurchased H-shares and 89.5539 million repurchased A-shares on November 11, 2025 [1] Summary by Category - **Share Repurchase** - The company will cancel a total of 114 million H-shares that have been repurchased [1] - Additionally, 89.5539 million A-shares that have been repurchased will also be canceled [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國東方航空股份有限公司 呈交日期： 2025年11月11日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 | | 否 | | | | 證券代號 (如上市) | 600115 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | 每股發 ...

Group 1 - China Eastern Airlines has launched the "Qili Dongfang 11.11" series of activities for the 2025 Double Eleven shopping festival, offering cash ticket discounts and "buy now, use later" ticket packages to enhance travel convenience for passengers [1][4] - Starting from 0:00 on November 11, the airline offers a direct cash discount of 11% on selected tickets marked with the "Double 11 Promotion" label on its app, with an additional discount of 30 yuan for orders over 999 yuan when using designated bank cards [4] - Special one-price promotions are available for certain domestic and international flights, such as round-trip tickets from Shanghai to Hong Kong for only 540 yuan and from Shanghai to Okayama, Japan for 700 yuan, providing high-value travel options [4] Group 2 - This year, China Eastern Airlines has introduced a ticket package section on its official platform in response to the "buy now, use later" consumer trend, featuring the popular "Donghang Quyou Card" which allows passengers to purchase tickets at a fixed price and redeem them later based on travel plans [5] - The "Quyou Card" is available in various versions based on travel destinations, with different options for the number of exchanges and cabin classes, allowing travelers to customize their purchases according to travel frequency and comfort needs [5] - During the Double Eleven period, the national version of the "Quyou Card" is offered at a limited-time price, with a 5-exchange card available for as low as 2160 yuan, and unused products are refundable at any time [5]

Core Insights - The successful completion of flight training for China Eastern Airlines' Airbus A320 at Chizhou Jiuhua Mountain Airport marks a significant milestone for the airport and the Anhui region, showcasing the expansion of operational capabilities for smaller airports in the area [1][2]. Group 1: Training Overview - The flight training commenced on September 7 and concluded on October 29, lasting nearly two months, with a total of 7 training batches and over 2000 takeoffs and landings [2]. - The training focused on core competencies for transport aviation flight crews, emphasizing visual approach and landing operations, while also covering critical subjects such as approach routes, go-arounds, and standard recovery procedures [2]. Group 2: Regulatory Oversight - The Anhui Regulatory Bureau prioritized safety and planning for the training, providing detailed guidance to optimize the special support plan for visual approach training [3]. - Key operational elements such as airspace division, landing schedules, runway conditions, and communication/navigation equipment were thoroughly checked to ensure safety during the training [3]. Group 3: Future Directions - The Anhui Regulatory Bureau plans to continue balancing regulatory oversight with service, encouraging local airports to enhance their capabilities for flight training and diverse operational support [3][5].

Core Insights - The aviation and airport sector saw a slight increase of 0.27% on November 11, with Juneyao Airlines leading the gains [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Juneyao Airlines (603885) closed at 14.26, up 1.57% with a trading volume of 255,900 shares and a transaction value of 363 million yuan [1] - Xiamen Airport (600897) experienced a decline of 2.26%, closing at 16.85 with a trading volume of 87,700 shares and a transaction value of 148 million yuan [2] - China Eastern Airlines (600115) closed at 5.29, up 0.57% with a trading volume of 1,272,100 shares and a transaction value of 670 million yuan [2] Capital Flow - The aviation and airport sector experienced a net outflow of 132 million yuan from institutional investors, while retail investors saw a net inflow of 1.29 billion yuan [2][3] - China Eastern Airlines had a net inflow of 71.39 million yuan from institutional investors, but a net outflow of 39.65 million yuan from retail investors [3] - Xiamen Airport saw a net outflow of 12.81 million yuan from institutional investors, while retail investors contributed a net inflow of 12.27 million yuan [3]

Market Performance - A-shares saw a rise with the Shanghai Composite Index closing up 0.53% at 4018.6 points, while the Shenzhen Component Index increased by 0.18%[1] - The Hang Seng Index in Hong Kong closed up 1.55% at 26649.06 points, with the Hang Seng Tech Index rising 1.34% and the Hang Seng China Enterprises Index up 1.90%[1] - The total market turnover in Hong Kong decreased to 2147.878 million HKD[1] Economic Indicators - The U.S. government shutdown is expected to end soon, with the Senate likely to vote on a temporary funding bill[1] - China's passenger car sales fell for the first time in over a year, with a 0.8% year-on-year decline in October due to the withdrawal of trade-in subsidies[1][12] International Trade - Switzerland is reportedly close to reaching an agreement with the U.S. to reduce export tax rates from 39% to 15%, with a potential deal expected in the next two weeks[12] - The U.S. trade representative is optimistic about reaching a trade agreement with India, which may involve lowering tariffs on Indian goods[12]

Core Points - Eastern Airlines has officially resumed the "China-India route" after a 5-year hiatus, marking it as the first domestic airline to restart passenger flights between China and India in 2025 [1] - The inaugural flight MU563 from Shanghai Pudong International Airport to Delhi carried 248 passengers with a seat occupancy rate exceeding 95% [1] - The route will be operated by an Airbus A330 aircraft with three weekly flights on Wednesdays, Saturdays, and Sundays [1] Summary by Sections Route Details - The resumed route connects Shanghai and Delhi, two major economic centers, facilitating comprehensive exchanges in trade and culture between China and India [1] - Flight MU563 departs Shanghai at 12:50 PM and arrives in Delhi at 5:45 PM local time, while the return flight MU564 leaves Delhi at 7:55 PM and arrives back in Shanghai at 4:10 AM the next day, with a total flight duration of approximately 8 hours [1] Future Plans - Eastern Airlines plans to adjust the frequency of flights based on market feedback and aims to restore the Kunming to Kolkata route, as well as introduce a new route from Shanghai Pudong to Mumbai, further enhancing the air route network between China and India [1]

Core Points - Eastern Airlines has officially resumed the "China-India route" after a five-year hiatus, marking it as the first domestic airline to restart passenger flights between China and India in 2025 [2] - The inaugural flight MU563 from Shanghai Pudong International Airport to Delhi carried 248 passengers with a seat occupancy rate exceeding 95% [2] - The route will be operated by an Airbus A330 wide-body aircraft with three weekly flights on Wednesdays, Saturdays, and Sundays [2] Route Details - The flight schedule includes departure from Shanghai at 12:50 PM and arrival in Delhi at 5:45 PM local time, with the return flight MU564 departing Delhi at 7:55 PM and arriving back in Shanghai at 4:10 AM the next day [2] - This route connects two major economic centers, Shanghai and Delhi, facilitating comprehensive exchanges in trade and culture between the two countries [2] Future Plans - Eastern Airlines plans to adjust the frequency of flights based on market feedback and aims to restore the Kunming to Kolkata route, as well as introduce a new route from Shanghai Pudong to Mumbai [2]

Macroeconomic Insights - Global asset performance shows mixed results, with the Hang Seng Index up 1.29% and the Shanghai Composite Index up 1.08%, while developed markets like the S&P 500 fell by 1.63%[6] - In October, the U.S. ISM Manufacturing PMI declined, indicating economic slowdown, while consumer confidence continued to drop according to the University of Michigan index[7] Inflation and Prices - October CPI in China rose by 0.2% year-on-year, while PPI decreased by 2.1%, indicating a stable inflation environment with core service prices reaching their highest level since March 2024[11] - The rise in core CPI is attributed to reduced food drag and increased service contributions, with gold prices significantly impacting jewelry costs[13] Trade and Exports - In October, China's exports fell by 1.1% year-on-year, while imports grew by 1.0%, leading to a slight decrease in trade surplus[16] - The export structure shows weakness in non-U.S. markets, particularly the EU, while exports to the U.S. and ASEAN remained strong[18] Investment Strategies - The asset allocation report suggests an overweight position in Chinese A-shares and industrial commodities, with equity allocation set at 45% and bonds at 45%[22] - The report emphasizes the importance of AI industry trends and the potential for volatility in global equity markets, recommending a focus on quality assets[23] Market Dynamics - The trading activity has decreased, with turnover rates and transaction volumes declining across indices, indicating a cautious market sentiment[28] - The report highlights a decrease in northbound capital flow, with a net outflow of 2.6 billion CNY in the recent week, reflecting investor sentiment shifts[34]