00753 董事名單與其角色和職能 中國國際航空股份有限公司董事會（「董事會」）成員載列如下。 肖鵬 獨立非執行董事 徐念沙 禾雲 譚允芝 高春雷 董事會設立五個委員會。下表提供各董事會成員在這些委員會中所擔任的職位。 | 董事會委員會 | 戰略和投資 | 審計和風險管理委員會 | 提名 | 薪酬與考核 | 航空安全 | | --- | --- | --- | --- | --- | --- | | 董事 | 委員會 | （監督委員會） | 委員會 | 委員會 | 委員會 | | 劉鐵祥 | C | | C | | M | | 王明遠 | | | | | C | | 徐念沙* | M | M | | C | M | | 禾雲* | M | M | M | M | | | 譚允芝* | | M | M | | | | 高春雷* | | C | M | M | | 附註： 執行董事 劉鐵祥 （主席） 王明遠 非執行董事 崔曉峰 Patrick Healy（賀以禮） 職工董事 * 獨立非執行董事 C 有關委員會的主任委員 M 有關委員會的成員 中國北京，二零二五年十月十日 ...

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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不會就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。 - 1 - 劉先生亦已接替馬先生獲委任為香港上市規則第3.05條項下所規定的本公司授權代表，自 二零二五年十月十日起生效。 承董事會命 中國國際航空股份有限公司 00753 變更董事長 變更董事會委員會成員 及 變更本公司授權代表 中國國際航空股份有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，董事會收到馬 崇賢先生（「馬先生」）的辭呈，因工作調整，馬先生不再擔任執行董事及董事長職務，同 時亦不再擔任董事會戰略和投資委員會主任、董事會提名委員會主任及董事會航空安全 委員會委員，自二零二五年十月十日起生效。 馬先生確認其與董事會和本公司無意見分歧，亦不存在任何需要本公司股東及董事會知 悉的有關其辭任的其他事宜。董事會對馬先生於任職期間對本公司作出的卓越貢獻表示 衷心的感謝。 於二零二五年十月十日，第七屆董事會第八次會議決議選舉劉鐵祥先生（「劉先生」）為董 事長，同時擔任董事會戰略和投資委員會主 ...

臨時股東會投票表決結果 中國國際航空股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司臨 時股東會（「臨時股東會」）已於二零二五年十月十日（星期五）舉行，於臨時股東會上提 呈的決議案已獲正式通過。 茲提述本公司日期為二零二五年九月十八日之公告（「該公告」）及日期為二零二五年九月 十八日的臨時股東會通告（「通告」）。除非本公告另有規定，否則本公告所用詞彙與該公 告及通告所界定者具有相同涵義。 董事會欣然宣佈，通告內載列之決議案已於二零二五年十月十日（星期五）上午十時正假 座中國北京市順義區天柱路30號C713會議室舉行之臨時股東會上由股東以投票表決方式 正式通過。本公司於舉行臨時股東會時的所有董事（即王明遠先生、崔曉峰先生、Patrick Healy（賀以禮）先生、肖鵬先生、徐念沙先生、禾雲先生、譚允芝女士及高春雷先生）均 出席了臨時股東會。 臨時股東會的結果 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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不會就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。 00753 臨時股東會 ...

Investment Rating - The report maintains an "Overweight" rating for the transportation industry, indicating a positive outlook compared to the overall market performance [12]. Core Insights - The report highlights a recovery in profits for the express delivery sector driven by anti-competition policies, with an expected increase in prices leading to improved profitability for companies like Shentong Express and YTO Express [5][6]. - The shipping sector is experiencing strong demand, particularly for oil tankers, with historical high freight rates observed in August and September 2025. The report anticipates continued demand growth due to OPEC+ production increases and a release of pent-up inventory demand [5]. - The shipbuilding industry is in a phase of profit release as high-priced orders are being delivered, with a strong demand for replacing old vessels. The report notes that the implementation of the 301 policy is expected to stimulate order volumes and ship prices [5]. - The airline sector is projected to see significant improvements in operational performance due to increased capacity and a recovery in international travel, with major airlines like China Eastern Airlines and Southern Airlines expected to benefit [5][6]. - The report also indicates that the highway and railway sectors are likely to maintain growth in traffic volumes, with improvements in railway freight performance anticipated due to the retraction of previous freight rate reductions [5]. Summary by Sections Shipping - Oil tanker freight rates reached historical highs in August and September 2025, with a projected 14% decline in VLCC market rates for Q3, while Cape-sized bulk carriers are expected to see a 19% increase in rates [5]. - The report recommends companies such as China Merchants Energy Shipping and China Merchants Heavy Industry, highlighting the strong demand and supply constraints in the sector [5]. Shipbuilding - The shipbuilding industry is characterized by a tight supply-demand balance, with ongoing demand for replacing old vessels. The report suggests that the implementation of the 301 policy will positively impact order volumes and ship prices [5]. - Recommended companies include China Shipbuilding Industry Corporation and China State Shipbuilding Corporation, which are expected to benefit from the current market dynamics [5]. Airlines - The airline sector is entering a peak travel season with increased capacity and improved passenger flow. The report anticipates significant operational improvements for major airlines due to favorable external factors such as lower oil prices [5][6]. - Companies like China Eastern Airlines and Spring Airlines are highlighted as key beneficiaries of this trend [5]. Express Delivery - The express delivery sector is expected to see a recovery in profits due to rising prices and reduced competition. The report notes a 12.3% year-on-year growth in express delivery volume in August 2025 [5]. - Recommended companies include Shentong Express and YTO Express, which are expected to benefit from the ongoing price increases [5]. Highway and Railway - The report forecasts growth in highway traffic and railway passenger and freight volumes, with a notable increase in railway freight performance expected in Q3 2025 [5]. - Recommended companies include Zhejiang Huhangyong and Beijing-Shanghai High-Speed Railway, which are expected to perform well in the current environment [5].

Core Viewpoint - China National Airlines announced the resignation of Chairman Ma Chongxian due to work adjustments, effective immediately, and expressed gratitude for his contributions during his tenure [1] Group 1: Leadership Changes - Ma Chongxian has resigned from his positions as Executive Director and Chairman of the company, as well as from various committee roles [1] - The company held its eighth meeting of the seventh board of directors on the same day, where Liu Tiexiang was elected as the new Chairman [1] - Liu Tiexiang will also take on roles as the head of the Strategic and Investment Committee, Nomination Committee, and will serve as a member of the Aviation Safety Committee [1]

Core Viewpoint - China National Airlines announced the resignation of Chairman Ma Chongxian due to work adjustments, effective immediately [1] Group 1: Leadership Changes - Ma Chongxian has resigned from his positions as Executive Director and Chairman of the company, as well as from various committee roles [1] - Liu Tiexiang has been elected as the new Chairman of the company and will also take on roles as the head of the Strategic and Investment Committee, Nomination Committee, and a member of the Aviation Safety Committee [1]

Group 1 - The chairman of China International Airlines, Ma Chongxian, has resigned due to work adjustments, effective immediately [1] - Liu Tiexiang has been elected as the new chairman and will also serve as the head of the board's strategic and investment committee, nomination committee, and aviation safety committee [1] - For the first half of 2025, the revenue composition of China International Airlines is as follows: passenger air transport accounts for 90.64%, other services account for 4.93%, and air cargo and mail transport account for 4.43% [1] Group 2 - As of the report, the market capitalization of China International Airlines is 137.1 billion yuan [2]

证券代码：601111 股票简称：中国国航 公告编号：2025-045 中国国际航空股份有限公司 关于董事长变更的公告 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。 中国国际航空股份有限公司（以下简称"公司"）收到董事长马崇贤先生辞 呈，因工作调整，马崇贤先生不再担任公司执行董事和董事长职务，同时亦不再 担任董事会战略和投资委员会主任、提名委员会主任、航空安全委员会委员职务。 该辞任即日起生效。 马崇贤先生确认与公司董事会和公司无意见分歧，亦不存在需要公司股东知 悉的有关其辞任的其他事宜。公司董事会对马崇贤先生在任职期间为公司做出的 卓越贡献表示衷心的感谢。 同日，公司召开第七届董事会第八次会议，审议并通过《关于选举刘铁祥先 生为董事长的议案》，选举刘铁祥先生为公司董事长，同时担任董事会战略和投 资委员会主任、提名委员会主任、航空安全委员会委员职务。 特此公告。 中国国际航空股份有限公司董事会 中国北京，二〇二五年十月十日 1 ...

北京德恒律师事务所 关于中国国际航空股份有限公司 2025 年第二次临时股东会的 法律意见 北京德恒律师事务所 DeHeng Law Offices 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于中国国际航空股份有限公司 2025 年第二次临时股东会的法律意见 北京德恒律师事务所 关于中国国际航空股份有限公司 2025年第二次临时股东会的 法律意见 德恒 01G20230131-6 号 致:中国国际航空股份有限公司 北京德恒律师事务所(以下简称"本所")受中国国际航空股份有限公司(以 下简称"公司")委托,指派本所律师出席公司于 2025年 10月 10日召开的 2025 年第二次临时股东会(以下简称"本次会议"),对本次会议的合法性进行见证 并出具法律意见。 本法律意见根据《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司股东会规则》(以下统称"有关法律")及《中国国际航空股份有限公司 章程》(以下简称"《公司章程》")等有关法律、法规和规范性文件而出具。 北京德恒律师事务所 关于 ...

中国国际航空股份有限公司 2025年第二次临时股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 证券代码：601111 证券简称：中国国航 公告编号：2025-043 （四） 表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况 等。 公司 2025 年第二次临时股东会由公司董事会召集，本次会议由副董事长王 明远先生主持，会议的召集、召开及表决符合《公司法》等法律、法规、规范性 文件和《公司章程》的有关规定。 （五） 公司董事和董事会秘书的出席情况 1、公司在任董事8人，出席8人。 | 1、出席会议的股东和代理人人数 | 412 | | --- | --- | | 股股东人数 其中：A | 409 | | 境外上市外资股股东人数（H 股） | 3 | | 2、出席会议的股东所持有表决权的股份总数（股） | 12,311,156,518 | | 股股东持有股份总数 其中：A | 8,884,588,931 | | 股） 境外上市外资股股 ...