截至2025年9月30日，公司累计完成回购H股数量为11,400.60万股（约占公司总股本的0.5114%），回购 成交的最高价为3.03港元/股，最低价为2.26港元/股，成交总金额约为31,134.67万港元（不含交易费 用）。 截至2025年9月30日，公司累计完成回购股份数量为20,355.99万股，占公司总股份数的0.9132%。 格隆汇10月10日丨中国东航(600115.SH)公布，截至2025年9月30日，公司累计完成回购A股数量为 8,955.39万股（约占公司总股本的0.4017%），回购成交的最高价为4.10元/股，最低价为3.53元/股，成 交总金额约为33,680.02万元（不含交易费用）。 ...

Core Insights - The report from Guosen Securities highlights a significant increase in cross-regional travel during the National Day and Mid-Autumn Festival holiday, with a total of 2.433 billion trips made, reflecting a year-on-year increase of 6.3% and a 30.8% increase compared to 2019 [1] Group 1: Travel Volume and Trends - The total cross-regional travel volume during the eight-day holiday reached 2.433 billion trips, with an average daily increase of 6.3% year-on-year and a 30.8% increase compared to 2019 [1] - The breakdown of travel modes shows that railway, road, civil aviation, and water transport accounted for 154 million, 2.248 billion, 19.14 million, and 11.66 million trips respectively, with year-on-year increases of 2.6%, 6.6%, 3.3%, and 4.1% [1] - Self-driving trips remained the dominant mode of travel, with an average of 243 million trips per day, reflecting a year-on-year increase of 7.2% and accounting for approximately 80% of total travel volume [1] Group 2: Aviation Performance - Despite a high base from the previous year, civil aviation passenger flow still saw a year-on-year increase of 3.3% during the holiday, with an average daily passenger flow of 1.69 million flights, marking a 3.2% increase compared to the previous year and a 15.4% increase compared to 2019 [2] - The average ticket price for domestic economy class during the holiday was 849 yuan, showing a slight year-on-year increase of 0.3% and a minor decrease of 1.4% compared to 2019 [3] Group 3: Travel Behavior and Preferences - There was a notable increase in long-distance travel orders, with domestic long-distance travel orders rising by 3 percentage points year-on-year [4] - International travel saw a significant uptick, with outbound ticket bookings for popular destinations increasing by over 30% year-on-year, particularly in regions like Japan, South Korea, and Southeast Asia [4] Group 4: Tourism Revenue and Consumer Spending - Domestic tourism during the holiday reached 888 million trips, with total spending amounting to 809 billion yuan, reflecting a year-on-year increase of 1.0% [5] - The average tourism expenditure per person was 911.1 yuan, showing a slight decrease of 0.5% year-on-year but recovering to 97.4% of the level seen in 2019 [5] Group 5: Investment Outlook - The fourth quarter is expected to enter a travel off-season, but there may be a recovery in business travel demand compared to the previous year [6] - The report suggests that if travel demand continues to grow steadily, it could lead to a recovery in airline revenues, with potential for significant profit growth for airlines like Air China, China Eastern Airlines, and others [6]

Core Viewpoint - Eastern Airlines has officially upgraded its "Door-to-Door Luggage" service, integrating air and ground transportation resources to provide travelers with a comprehensive luggage solution between their homes and airports, enabling a "hands-free" travel experience [1][3]. Group 1: Service Features - The upgraded "Door-to-Door Luggage" service allows travelers to book through the Eastern Airlines app, where professional personnel will pick up luggage from their homes and deliver it directly to the departure airport (referred to as "Door-to-Port" service) [3]. - The service also includes the option for personnel to return luggage from the arrival airport directly back to the traveler's home (referred to as "Port-to-Door" service), eliminating the need for travelers to handle check-in and baggage retrieval at the airport [3]. Group 2: Customer Experience - This service addresses common pain points for travelers, such as carrying large luggage during transit or managing baggage during business trips, allowing them to travel without the burden of luggage [1][3]. - Travelers can track the status of their booked luggage service through the Eastern Airlines app, enhancing the overall customer experience [4].

（东航供图） 知识闯关紧随其后。"开国大典""改革开放""神舟飞天""亚运盛会"等高光时刻化作抢答题，旅客按亮呼 唤铃秒速作答，客舱变身"空中竞赛场"。"孩子全程认真听历史、答问题，立志就说长大要当飞行员报 效祖国！"刘女士牵着儿子兴奋地说。前往哈尔滨的王先生表示："从吃不饱饭到坐上飞机旅游，祖国的 变化就是我的幸福答卷！" 每一次起飞，都是爱国教育的延伸；每一次落地，都把崇高情感转化为守护安全、提升服务的源源动 力。此次"盛世国庆"主题航班，是西北分公司今年第五场"红色航班"活动。下一步，西北分公司党支部 将持续深耕"航空+思政"模式，让航班成为"流动课堂"，让更多旅客在起降之间触摸时代脉搏、在云端 之上感受中国力量，以高质量党建引领分公司高质量发展。（《中国民航报》、中国民航网 记者路 泞）（编辑：李季威 校对：张彤 审核：程凌） 10月1日，西安—哈尔滨航班上，西北分公司党支部以"云端庆华诞·同心筑梦行"为主题，再度升级"红 色航班"品牌，把万米高空变成一堂沉浸式爱国主义移动课，与旅客共祝新中国76周年华诞。 "76年前的今天，中华人民共和国庄严诞生；76年后的此刻，我们在云端为祖国喝彩！"乘务长化身" ...

Core Insights - During the 2025 National Day and Mid-Autumn Festival holiday, Eastern Airlines Northwest Branch successfully completed transportation tasks, ensuring safe and smooth travel for passengers [1][5] Flight Operations - From October 1 to October 8, Eastern Airlines operated a total of 1,332 flights from Xi'an Airport, including 1,255 domestic flights and 77 international and regional flights, averaging 167 flights per day [1] - The overall passenger load factor for flights departing from Xi'an reached 89.81%, with a total of 193,000 passengers carried [1] - The flight operation normal rate during the holiday was 96.07%, exceeding the airport average by 1.19 percentage points [2] Challenges and Responses - The airline faced challenges due to heavy rainfall in the central and southern regions, which caused delays for some flights heading to eastern China [2] - Despite these challenges, the flight department managed to increase flight hours by 3.56% compared to the previous year, totaling 5,310 hours over the holiday period [2] Safety and Security - The security management department ensured the safe operation of 2,177 flights, with a total of 9,857.2 flight hours and an average of 210 personnel on duty daily [2] - A total of 49,788 cargo items and 2,643 mail items were inspected, with no incidents of dangerous or prohibited items being overlooked [2] Customer Experience - The airline organized various themed activities to enhance the travel experience, including a dedicated service for first-time travelers and special decorations in lounges [4] - On October 1 and during the Mid-Autumn Festival, themed flights were conducted to celebrate the holiday, featuring traditional cultural elements and special treats for passengers [4] Overall Performance - Eastern Airlines Northwest Branch served a total of 374,400 passengers during the holiday, including 741 special passengers, successfully completing the last major holiday transportation task of the year [5]

Investment Rating - The investment rating for the aviation industry is "Overweight" [2]. Core Insights - The domestic aviation market has shown strong performance during the National Day holiday, with passenger transport volume averaging approximately 2.15 million people per day, a year-on-year increase of 31% compared to 2019 and 4% compared to 2024 [1]. - The average ticket price (including fuel) has increased by 7% compared to 2019 and 3% compared to 2024, indicating a positive trend in pricing despite some regional weather disruptions [1]. - The industry is expected to enter a "golden era" over the next 5-10 years, driven by supply chain improvements and increasing demand, with major airlines likely to continue reporting strong earnings [1]. Summary by Sections Passenger Transport Data - Daily average domestic passenger transport volume: 2.15 million, +31% YoY vs. 2019, +4% YoY vs. 2024 [1]. - Daily average domestic flight volume: 14,500 flights, +19% YoY vs. 2019, +2% YoY vs. 2024 [1]. - International passenger transport volume: 380,000, -13% YoY vs. 2019, +11% YoY vs. 2024 [1]. Market Perception - There are misconceptions regarding the recovery of Boeing and Airbus production capacity, which may not reverse the aging trend of aircraft [1]. - Current low domestic ticket prices do not necessarily correlate with poor airline profitability, as many airlines have seen international market recovery exceeding pre-pandemic levels [1]. Future Outlook - The aviation industry is expected to experience significant improvements in profitability, with a shift from losses to profitability anticipated in the coming years [1]. - The supply chain issues leading to aircraft shortages are projected to persist for 5-10 years, creating a favorable environment for airlines [1]. Investment Recommendations - Continued focus on the aviation sector is recommended, with specific attention to airlines such as China Eastern Airlines, Spring Airlines, and China Southern Airlines, among others [1][2].

黄金周期间，东航由武汉往返上海两场、北京大兴、成都天府、昆明、西安、广州等主要枢纽机场的国 内航线，客座率保持高位；同时，前往泉州、福州、厦门、青岛、济南、太原、天津、宁波等国内热门 旅游城市的航线客座率也超过90%。 国际及地区航线方面，东航于长假前夕的9月30日，开通了武汉至柬埔寨金边航线；东航在汉运营的国 际及地区航线至此达11条，继续保持武汉市场的领先地位。假期里，东航由武汉前往东京、吉隆坡、新 加坡、悉尼和台北等方向的国际及地区出行客流，热度持续攀升。 双节长假中，东航武汉公司推出了多项节日特色活动，10月1日，"耀东方 楚不凡"国庆节特色主题航 班，在武汉飞往北京大兴的航程中举行。中秋节当晚，武汉—博鳌航班举办"月满天涯 情系东航"中秋 特色活动，乘务组将定制中秋月饼送到每位旅客手中，并安排了"中秋诗词汇"互动。武汉机场的东航贵 宾室推出了黑芝麻、海盐芝士等多款特色月饼及玉兔造型点心，设计了投壶、猜灯谜等传统游戏 此次黄金周，东航在武汉当地科学调配运力，加强运行协调，航班正点率达到97.06%，高于机场平均 水平。东航武汉公司在武汉天河国际机场增开值机柜台，组织志愿者在关键区域进行分流引导、提供问 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國東方航空股份有限公司 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00670 | 說明 | | 中國東方航空股份有限公司H股 | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 5,176,777,777 | | 0 | | 5,176,777,777 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | 5,176,777,777 | | 0 | | 5,176,777,777 | | 2. 股份分類 | 普通 ...

Investment Rating - The report gives an "Overweight" rating for the aviation industry, indicating a positive outlook for the sector's performance compared to the overall market [8]. Core Insights - The National Day holiday data for the aviation industry exceeded expectations, signaling an upcoming golden era for airlines. The domestic aviation market showed stable performance despite adverse weather conditions, with daily passenger transport volume averaging approximately 2.15 million, a 31% increase compared to 2019 and a 4% increase compared to 2024 [2]. - The growth in passenger volume is primarily dependent on the increase in aircraft numbers, and a low growth rate in passenger volume amidst high load factors is seen as a positive indicator for profitability. If fleet size does not grow, passenger volume may stagnate or decline, leading to potential supply-demand mismatches and price fluctuations [2]. - The report highlights two misconceptions in the market: first, the belief that the recovery of Boeing and Airbus production capacity will reverse the aging trend of aircraft; second, the notion that lower ticket prices will negatively impact airline profitability. The report argues that many domestic airlines have already surpassed 2019 levels in international market recovery, and as long as the reduction in unit costs exceeds the decline in unit revenues, airline profitability will improve [2]. - The Chinese civil aviation sector is entering a golden age, expected to last 5-10 years, driven by supply chain improvements. Short-term indicators include record profits for major airlines during the National Day holiday, while medium-term expectations include a transition from losses to profitability for airlines [2]. - Investment recommendations include focusing on the aviation sector, with a strong supply-side logic and elastic demand. Airlines such as China Eastern Airlines, Spring Airlines, and China Southern Airlines are highlighted as potential investment opportunities, along with global aircraft leasing companies and airport sectors showing continuous recovery [2][3]. Summary by Sections - **Passenger Transport Data**: Daily domestic passenger transport volume reached approximately 2.15 million, with a 31% increase from 2019 and a 4% increase from 2024. Daily domestic flight volume averaged about 14,500 flights, a 19% increase from 2019 and a 2% increase from 2024 [2]. - **International Market Performance**: Daily international passenger transport volume averaged around 380,000, a 13% decrease from 2019 but an 11% increase from 2024. The average ticket price for international flights decreased by 12% compared to 2024 [2]. - **Company Valuation Table**: Key companies in the aviation sector, such as China Southern Airlines and China Eastern Airlines, have been rated as "Outperform" or "Buy," with projected earnings per share (EPS) growth indicating strong future performance [3].

Group 1 - The "Super Golden Week" holiday from October 1 to 8 saw Eastern Airlines operate nearly 25,000 domestic and international flights, transporting over 3.65 million passengers, with an average of over 3,100 flights per day, marking a year-on-year increase of 3.6% in flight operations and 6.2% in passenger volume [1][5][6] - Domestic routes from major hubs such as Shanghai, Beijing, Shenzhen, and Guangzhou to popular tourist destinations like Xiamen, Dalian, and Harbin experienced high passenger load factors, indicating strong demand [5][6] - Internationally, Eastern Airlines executed 3,484 flights during the holiday, carrying 552,000 passengers, with routes to Europe, North America, and Asia being particularly popular [5][6] Group 2 - To enhance passenger experience, Eastern Airlines increased check-in counters and ground staff at various airports and introduced "accompanying services" at major airports to cater to diverse travel needs [6] - The airline offered bundled products like "flight + hotel" and "flight + ticket" to enrich travel experiences, along with themed flights for the holidays to create a festive atmosphere [6]