Group 1: Financing and Investment Plans - Shengyi Electronics plans to raise no more than 2.6 billion yuan through a private placement to invest in AI computing HDI production base, smart manufacturing high-layer circuit board projects, and to supplement working capital and repay bank loans [2] - Lianmicro intends to invest 2.262 billion yuan to construct a project with an annual production capacity of 1.8 million pieces of 12-inch heavily doped substrate wafers [3] - Daimei Co. plans to invest 100 million yuan to establish a wholly-owned subsidiary focused on robotics technology [5] Group 2: Stock Performance and Trading - Furi Shares experienced a significant stock price fluctuation, with an 8-day cumulative deviation of 113.94%, indicating potential irrational speculation [2] - Tianfu Communication has set the initial inquiry transfer price at 140 yuan per share, reflecting a 7.2% discount from the closing price [7] - Ningde Times' third-largest shareholder is transferring shares at a price of 376.12 yuan per share, with full subscription from 16 institutional investors [6] Group 3: Operational Updates - Yongtai Technology's wholly-owned subsidiary is set to begin trial production of a lithium battery additive project with an annual capacity of 5,000 tons, increasing the total capacity to 10,000 tons per year [3] - Trina Solar's subsidiary signed contracts for the sale of 2.66 GWh of energy storage products, which is expected to positively impact future operating performance [5] - Yinglian Co. signed a strategic procurement contract for over 50 million square meters of composite aluminum foil materials for quasi-solid-state batteries, which will enhance its operational development in 2026-2027 [5] Group 4: Corporate Restructuring and Management - Huaxia Happiness has been designated a temporary manager for pre-restructuring by the court, pending a decision on its restructuring application [8] - The National Integrated Circuit Fund has reduced its stake in Shengke Communication by 2.49%, completing its planned share reduction [4]

（文章来源：证券日报） 证券日报网讯 11月17日晚间，中国东航发布公告称，中国东方航空股份有限公司2025年10月份客运运 力投入（按可用座公里计）同比上升6.84%；旅客周转量（按客运人公里计）同比上升10.58%；客座率 为87.52%，同比上升2.97个百分点。2025年10月份货邮周转量（按货邮载运吨公里计）同比上升 14.59%。 ...

Core Insights - China Eastern Airlines reported a 6.84% year-on-year increase in passenger capacity for October 2025, measured in available seat kilometers [1] - The passenger turnover for October 2025 rose by 10.58% year-on-year, measured in revenue passenger kilometers [1] - The passenger load factor reached 87.52%, an increase of 2.97 percentage points year-on-year [1] - Cargo and mail turnover increased by 14.59% year-on-year, measured in cargo and mail ton kilometers [1] Domestic Market Developments - New domestic routes launched include Chengdu Tianfu-Cangyuan, Chengdu Tianfu-Tianjin, Hangzhou-Urumqi, Hefei-Fuzhou, and Hefei-Jinjiang [1] - Resumed flights on routes such as Shanghai Pudong-Nanchong, Kunming-Luoyang, Qingdao-Jieyang Chaoshan, and Yantai-Ningbo [1] - Increased frequency on routes including Shanghai Hongqiao-Beijing Daxing, Shanghai Hongqiao-Guangzhou, and Shanghai Pudong-Xi'an [1] International Market Developments - New international routes include Taiyuan-Changsha-Singapore and Taiyuan-Kunming-Kuala Lumpur [1] - Increased frequency on international routes such as Shanghai Pudong-Phuket, Shanghai Pudong-Colombo, and Shanghai Pudong-Kuala Lumpur [1] Fleet Update - The company introduced 4 A320 series aircraft and retired 2 A320 series aircraft in October 2025 [1] - As of the end of October 2025, the total operational fleet consists of 822 aircraft [1]

Core Insights - China Eastern Airlines reported a 6.84% year-on-year increase in passenger capacity for October 2025, measured in available seat kilometers [1] - The passenger turnover increased by 10.58% year-on-year, measured in revenue passenger kilometers [1] - The passenger load factor reached 87.52%, up by 2.97 percentage points year-on-year [1] - Cargo and mail turnover saw a year-on-year increase of 14.59%, measured in cargo and mail ton kilometers [1] Domestic Market Developments - New domestic routes launched include Chengdu Tianfu-Cangyuan, Chengdu Tianfu-Tianjin, Hangzhou-Urumqi, Hefei-Fuzhou, and Hefei-Jinjiang [1] - Resumed routes include Shanghai Pudong-Nanchong, Kunming-Luoyang, Qingdao-Jieyang Chaoshan, and Yantai-Ningbo [1] - Increased frequency on routes such as Shanghai Hongqiao-Beijing Daxing, Shanghai Hongqiao-Guangzhou, and Shanghai Pudong-Xi'an [1] International Market Developments - New international routes include Taiyuan-Changsha-Singapore and Taiyuan-Kunming-Kuala Lumpur [1] - Increased frequency on international routes such as Shanghai Pudong-Phuket, Shanghai Pudong-Colombo, and Shanghai Pudong-Kuala Lumpur [1] Fleet Update - The company introduced 4 A320 series aircraft and retired 2 A320 series aircraft in October 2025 [1] - As of the end of October 2025, the total operational fleet consists of 822 aircraft [1]

Core Viewpoint - Eastern Airlines announced an increase in passenger capacity and turnover for October 2025, indicating growth in operational performance and demand in the airline industry [1] Group 1: Capacity and Performance Metrics - The passenger capacity (measured in available seat kilometers) for October 2025 is projected to increase by 6.84% year-on-year [1] - The passenger turnover (measured in revenue passenger kilometers) for October 2025 is expected to rise by 10.58% year-on-year [1] - The passenger load factor for October 2025 is reported at 87.52%, reflecting an increase of 2.97 percentage points year-on-year [1] Group 2: Cargo Performance - The cargo and mail turnover (measured in cargo mail ton kilometers) for October 2025 is anticipated to grow by 14.59% year-on-year [1]

Core Viewpoint - China Eastern Airlines reported a significant increase in passenger capacity and turnover for October 2025, indicating strong growth in both domestic and international markets [1] Group 1: Passenger Metrics - The passenger capacity input (measured in available seat kilometers) for October 2025 increased by 6.84% year-on-year [1] - The passenger turnover (measured in revenue passenger kilometers) rose by 10.58% year-on-year [1] - The passenger load factor reached 87.52%, up by 2.97 percentage points year-on-year [1] Group 2: Cargo Metrics - The cargo and mail turnover (measured in cargo mail ton kilometers) saw a year-on-year increase of 14.59% for October 2025 [1] Group 3: Route Expansion - New domestic routes launched include Chengdu Tianfu-Cangyuan, Chengdu Tianfu-Tianjin, Hangzhou-Urumqi, Hefei-Fuzhou, and Hefei-Jinjiang [1] - Resumed domestic routes include Shanghai Pudong-Nanchong, Kunming-Luoyang, Qingdao-Jieyang Chaoshan, and Yantai-Ningbo [1] - Increased frequency on key domestic routes such as Shanghai Hongqiao-Beijing Daxing, Shanghai Hongqiao-Guangzhou, and Shanghai Hongqiao-Sanya [1] Group 4: International Route Expansion - New international routes include Taiyuan-Changsha-Singapore and Taiyuan-Kunming-Kuala Lumpur [1] - Increased frequency on international routes such as Shanghai Pudong-Phuket, Shanghai Pudong-Colombo, and Shanghai Pudong-Kuala Lumpur [1]

Group 1 - Japan has been a significant destination for Chinese tourists, but recent warnings from the Chinese Ministry of Foreign Affairs advise against traveling to Japan due to safety concerns and rising incidents of crime against Chinese citizens [2] - Following the advisory, multiple Chinese airlines have announced free ticket change and refund policies for flights to Japan, indicating a response to the deteriorating travel conditions [3][4] - Major airlines such as Air China, China Southern Airlines, and China Eastern Airlines have implemented similar policies, allowing passengers to change or cancel their flights without fees [4] Group 2 - The number of flights between mainland China and Japan has been declining for four consecutive weeks, with flight numbers dropping from 1,223 to 1,189 during this period, representing a significant decrease compared to 2019 [5] - The inbound tourism market from mainland China to Japan may be adversely affected, as data shows a substantial increase in Chinese tourists visiting Japan in previous months, but the current trend suggests a potential downturn [5]

2025年10月货邮周转量(按货邮载运吨公里计)同比上升14.59%。2025年10月，国内市场：新开成都天府 －沧源、成都天府－天津、杭州－乌鲁木齐、合肥－福州、合肥－晋江等航线；复飞上海浦东－南充、 昆明－洛阳、青岛－揭阳潮汕、烟台－宁波等航线；加密上海虹桥－北京大兴、上海虹桥－广州、上海 虹桥－三亚、上海虹桥－长沙、上海浦东－西安、上海浦东－昆明、上海浦东－三亚等航线。国际地区 市场：新开太原－长沙－新加坡、太原－昆明－吉隆坡等航线；加密上海浦东－普吉、上海浦东－科伦 坡、上海浦东－吉隆坡、昆明－香港、太原－香港等航线。 格隆汇11月17日丨中国东方航空股份(00670.HK)公告，公司2025年10月客运运力投入(按可用座公里计) 同比上升6.84%；旅客周转量(按客运人公里计)同比上升10.58%；客座率为87.52%，同比上升2.97个百 分点。 ...

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公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分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：00670） 內幕消息 海外監管公告 2025 年 1 0 月運營數據公告 此海外監管公告是根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及 第13.10B條及證券及期貨條例（香港法例第571章）第XIVA部項下的內幕消息條文（定義見 上市規則）發出。 中國東方航空股份有限公司（「本公司」）及董事會全體成員保證公告內容真實、準確和完 整，不存在虛假記載、誤導性陳述或者重大遺漏。 一、運營情況 本公司2025年10月客運運力投入（按可用座公里計）同比上升6.84%；旅客周轉量（按客 運人公里計）同比上升10.58%；客座率為87.52%，同比上升2.97個百分點。2025年10月 貨郵周轉量（按貨郵載運噸公里計）同比上升14.59%。 2025年10月，國內市場：新開成都天府－滄源、成都天府－天津、杭州－烏魯木齊、 合肥－福州、 ...

Investment Rating - The investment rating for China Eastern Airlines is "Buy" with a maintained rating for the next six months [5]. Core Views - The report indicates that the operating performance of China Eastern Airlines is expected to grow significantly due to the expansion of visa-free policies, leading to a substantial increase in international route business [1][4]. - The international route revenue share increased to 16% in the first half of 2025, with a year-on-year growth of 22% [1]. - The report forecasts a potential increase in international flight passenger volume by approximately 15% if the current growth trends continue [2]. Financial Performance Summary - For the first three quarters of 2025, China Eastern Airlines reported operating revenue of 106.41 billion yuan, a year-on-year increase of 3.73% [1]. - Gross profit reached 7.76 billion yuan, up 19.69%, with a gross margin of 7.29%, an increase of 0.97 percentage points year-on-year [1]. - The total profit surged from 0.51 million yuan in the same period last year to 2.35 billion yuan, while the net profit attributable to shareholders rose from a loss of 138 million yuan to 2.10 billion yuan [1]. Market Dynamics - The report highlights that the recovery in inbound tourism is expected to drive the aviation industry's revival, with both international and domestic routes anticipated to see revenue growth [3]. - The international route RPK (Revenue Passenger Kilometers) for China Eastern Airlines grew by 24.16% year-on-year, while ASK (Available Seat Kilometers) increased by 20.08% [2]. - The report notes that the domestic flight load factor is expected to rise, leading to potential fare increases [3]. Profit Forecasts - The profit forecasts for 2025 and 2026 have been revised downwards to 1.01 billion yuan and 6.33 billion yuan, respectively, due to slower-than-expected recovery in air travel demand [4]. - The report introduces a profit forecast for 2027 at 11.74 billion yuan, with corresponding P/E ratios of 119, 19, and 10 times for the respective years [4].