证券代码：601156 证券简称：东航物流 公告编号：2025-006 东方航空物流股份有限公司 关于召开 2024 年度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 4 月 17 日(星期四)15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心图文展示+网络文字互动 问题征集方式：投资者可于 2025 年 4 月 10 日(星期四)至 4 月 16 日(星期 三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 EAL-IR@ceair.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 东方航空物流股份有限公司（以下简称"公司"）将于 2025 年 4 月 17 日披露 公司 2024 年度报告，为便于广大投资者更全面深入地了解公司 2024 年度业绩、经 营情况，公司计划于 2025 年 4 月 17 日(星期 ...

地震发生后，东航执行首班国际救援航班，搭载中国救援队37名队员及5吨救援物资抵达缅甸，东航物 流积极配合开展救援物资运输保障工作。3月28日20:40，东航物流西南分公司接到东航云南公司重大办 关于救灾物资运输保障的通知后，迅速启动应急响应，第一时间制定绿色通道保障方案，协调额外开通 安检通道，并提前向昆明机场海关报备物资运输计划。3月29日凌晨1时，救灾物资抵达东航物流西南分 公司昆明货站，早已在收货口待命的工作人员立即通过绿色安检通道开展收运工作。物资入库后，东航 物流西南分公司高效完成装卸、称重、复核等工作。当天06:38，装载着218件、5041公斤救灾物资的东 航MU9003航班顺利从云南昆明长水国际机场起飞，于北京时间08:35落地缅甸仰光国际机场。 首班航班保障之后，东航物流又接到其他用户关于提供救灾物资运输帮助的需求，需要将帐篷及防雨布 等物资运至缅甸仰光，东航物流西南分公司第一时间帮助其协调报关、运输相关事宜，同时向昆明机场 海关报备，确保货物顺利运输。自3月30日下午的MU2031航班开始，东航物流正陆续保障物资运往仰 光。后续，东航物流将密切关注缅甸地震灾情及救援需求，持续发挥航空物流优 ...

未来如有再质押计划，公司将按照相关法律法规要求及时履行披露义务。 证券代码：601156 股票简称：东航物流 公告编号：临 2025-005 东方航空物流股份有限公司 关于 5%以上股东部分股份解除质押的公告 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。 重要内容提示： 截至本公告披露日，股东天津睿远企业管理合伙企业（有限合伙）（以下简 称"天津睿远"）持有东方航空物流股份有限公司（以下简称"公司"）股 份 99,967,601 股，占公司总股本比例为 6.30%。天津睿远本次解除质押股份 数量 1,396,897 股，本次解除质押后，持有公司股份累计质押数量 0 股。 公司于 2025 年 3 月 26 日获悉，天津睿远将其所持有的公司部分股份办理了 解除质押业务，具体事项如下： | 股东名称 | 天津睿远企业管理合伙企业（有限合伙） | 本次解除质押股份 | 1,396,897 | 股 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Investment Rating - The report maintains a "Recommended" rating for the transportation industry [1] Core Insights - The report highlights that U.S. sanctions against Iran are intensifying, and OPEC has reached a consensus to increase production, indicating upward potential for the oil tanker sector [2][7] - The express delivery business volume has shown significant year-on-year growth, with a reported increase of 21.5% in 2024 [3] Summary by Sections Weekly Focus - The U.S. government has announced additional sanctions against Iran, targeting several individuals, entities, and vessels involved in Iranian oil exports, including 10 VLCC supertankers, which constitutes about 20% of the global tanker fleet [7] - OPEC has agreed to gradually increase production starting April, aiming to release 2.2 million barrels per day [7] Industry Data Tracking (2025.03.09 – 03.15) Aviation Data - Domestic flight volume for the week was 84,029 flights, averaging 12,004 flights per day, a slight decrease of 0.10% week-on-week and 0.50% year-on-year [10] - Domestic passenger volume reached 11.43 million, a 0.05% increase week-on-week and a 2.12% increase year-on-year [11] - The average domestic ticket price decreased by 3.49% week-on-week and 6.31% year-on-year [11] Express Delivery Data - For the week of March 3-9, the average daily collection volume was approximately 555 million pieces, a 3.99% increase from the previous week [17] - Year-to-date, the average daily collection volume is about 495 million pieces, reflecting a 36.00% increase year-on-year [17] - In 2024, the express delivery business volume increased by 21.5% year-on-year, with revenue up by 13.8% [3] Shipping Data - The BDI index for dry bulk shipping was reported at 1,517 points, a 20% increase week-on-week [48] - The VLCC-TCE rate was $38,329 per day, a 3% decrease week-on-week [49] Recent Key Reports - The report recommends focusing on companies such as COSCO Shipping Energy, Shandong Highway, and China Eastern Airlines, among others, as part of the investment strategy [4]

Investment Rating - The industry investment rating is "Recommended (Maintain)" [1] Core Insights - The report highlights that the recent decline in oil prices is expected to elevate the profit margins for the aviation sector, with Brent oil prices dropping below $70 per barrel and WTI prices below $67 per barrel [8] - The report suggests that if oil prices remain low, it could lead to cost savings of approximately 4-5 billion yuan for major airlines, equivalent to a ticket price reduction of about 3%-4% [8] - The report emphasizes the importance of monitoring supply-demand dynamics and macroeconomic conditions to ensure that the benefits of lower oil prices translate into profits for the airlines [13] Summary by Sections Weekly Focus - The focus of the week is on the accelerated decline in oil prices, which is expected to enhance the profit margins for the aviation industry [6] Industry Data Tracking (2025.03.02 - 03.08) Aviation High-Frequency Data Tracking - Domestic flight volume for the period was 81,367 flights, with a daily average of 11,624 flights, down 10.07% week-on-week and 7.47% year-on-year [10] - Domestic passenger volume reached 11.0615 million, down 12.05% week-on-week and 4.17% year-on-year [11] - The average full ticket price decreased by 4.76% week-on-week and 3.39% year-on-year [11] - The domestic passenger load factor was 83.18%, an increase of 3.73 percentage points year-on-year [12] - International passenger volume reached 1.315 million, down 5.27% week-on-week but up 26.01% year-on-year [14] Express Delivery High-Frequency Data Tracking - For the week of February 24 to March 2, the average daily express delivery volume was approximately 534 million pieces, with a delivery volume of about 541 million pieces, showing a slight decrease of 0.56% and an increase of 0.05% respectively compared to the previous week [19] - Year-to-date (January 1 to March 2), the average daily express delivery volume was approximately 488 million pieces, up 37.41% year-on-year [20] Shipping High-Frequency Data Tracking - The BDI index for the international dry bulk market was 1,263 points, up 17% week-on-week [51] - The CCFI index for the international container shipping market decreased by 3% week-on-week, while the SCFI index fell by 5% [51] - The VLCC-TCE rate for oil shipping was $39,359 per day, down 1% week-on-week [52] Recent Key Reports - The report includes a recommended investment portfolio consisting of companies such as COSCO Shipping Energy, Shandong Hi-Speed, and China Eastern Airlines, among others [5]

证券代码：601156 证券简称：东航物流 公告编号：临 2025-004 东方航空物流股份有限公司 关于 5%以上股东减持股份结果的公告 本公司董事会、全体董事及相关股东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： 5%以上股东持股的基本情况 本次股份减持计划实施前，股东天津睿远企业管理合伙企业（有限合伙）（以 下简称"天津睿远"）持有东方航空物流股份有限公司（以下简称"公司"）股份 142,880,000 股，占公司总股本的 9.00%。 减持计划的实施结果情况 2024 年 10 月 29 日，公司披露了《关于 5%以上股东减持股份计划公告》（公 告编号：临 2024-048），股东天津睿远拟自 2024 年 11 月 19 日至 2025 年 2 月 18 日通过集中竞价交易减持不超过 15,875,555 股，大宗交易减持不超过 31,751,111 股，合计减持数量不超过 47,626,666 股。截至 2025 年 2 月 18 日， 本次减持计划时间区间届满，天津睿远通过集中竞价交易减持 15,875,555 股， ...

证券代码：601156 股票简称：东航物流 公告编号：临 2025-003 东方航空物流股份有限公司 关于变更持续督导保荐代表人的公告 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。 2025 年 2 月 13 日 1 附件：唐加威先生简历 唐加威先生于 2017 年取得保荐代表人资格，曾经担任南京茂莱光学科技股 份有限公司科创板首次公开发行 A 股项目、科博达技术股份有限公司主板首次公 开发行 A 股项目、东方财富信息股份有限公司 2019 年度创业板公开发行可转换 公司债券项目、东方财富信息股份有限公司 2020 年度创业板向不特定对象发行 可转换公司债券项目的保荐代表人，在保荐业务执业过程中严格遵守《证券发行 上市保荐业务管理办法》等相关规定，执业记录良好。 中金公司系公司首次公开发行 A 股股票并上市的保荐机构，原委派持续督导 的保荐代表人为徐志骏先生、夏雨扬女士。现夏雨扬女士因工作变动，不再担任 公司持续督导保荐代表人。为不影响公司持续督导工作的正常进行，中金公司现 委派唐加威先生（简历见附件）接替夏雨扬女士担任公司 ...

证券代码：601156 股票简称：东航物流 公告编号：临 2025-002 东方航空物流股份有限公司 关于 5%以上股东部分股份解除质押及质押的公告 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。 重要内容提示： 公司于 2025 年 2 月 11 日获悉，珠海普东将其所持有的公司部分股份办理了 解除质押及质押业务，具体事项如下： | 股东名称 | 珠海普东股权投资有限公司 | | | | | --- | --- | --- | --- | --- | | 本次解除质押股份 | | 47,500,000 | | 股 | | 占其所持股份比例 | | | 59.81% | | | 占公司总股本比例 | | | | 2.99% | | 解除质押时间 | 2025 | 年 2 | 月 5 | 日 | | 持股数量 | | 79,420,100 | | 股 | | 持股比例 | | | 5.00% | | | 剩余被质押股份数量 | | | 0 | 股 | | 剩余被质押股份数量占其所持股份比例 | | | 0.00% | | | 剩 ...

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 17.08 CNY [5]. Core Views - The report highlights that Eastern Airlines Logistics is positioned as a leading player in the domestic air cargo sector, benefiting from a robust supply-demand dynamic in the air freight market, which is expected to drive significant growth in revenue and profits [1][4]. Summary by Sections Company Overview - Eastern Airlines Logistics is the first publicly listed air cargo company in China, backed by China Eastern Airlines Group, which holds a 40.5% stake in the company [1][9]. - The company has seen a continuous increase in its profit margins, with net profit margins rising from 5%-10% (2016-2019) to over 10% since 2020, reaching a net profit of 2.07 billion CNY in Q1-Q3 2024, a 24% year-on-year increase [1][21]. Industry Dynamics - The air cargo market is experiencing a tightening supply of freighter aircraft, which is expected to push freight rates higher. The global freighter fleet accounts for less than 8% of total air cargo capacity but handles 54% of air cargo volume [2][37]. - Demand for air cargo is benefiting from global economic growth and the rapid expansion of cross-border e-commerce, with a reported 11.8% year-on-year increase in global air cargo demand in 2024 [2][41]. Competitive Advantages - Eastern Airlines Logistics has established significant resource barriers, including a fleet of 14 B777 freighters with an average age of 3.5 years and exclusive access to cargo operations on nearly 800 passenger aircraft [3][16]. - The company has a comprehensive ground service network, with 17 self-operated cargo stations covering key air cargo hubs, enhancing its operational efficiency [3][15]. Financial Projections - The company is projected to achieve revenues of 24.45 billion CNY in 2024, with net profits expected to reach 2.72 billion CNY, reflecting a 9.3% growth year-on-year [4][19]. - Earnings per share (EPS) are forecasted to grow from 1.57 CNY in 2023 to 2.41 CNY by 2026, with a price-to-earnings (PE) ratio decreasing from 11 to 7 over the same period [4][19]. Conclusion - The report concludes that Eastern Airlines Logistics is well-positioned to capitalize on the growing demand for air cargo services, particularly in the cross-border e-commerce sector, and is expected to see substantial growth in both revenue and profitability in the coming years [4][30].

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between 2.5 billion and 2.9 billion CNY, an increase of 0.12 billion to 0.41 billion CNY compared to the previous year, representing a year-on-year growth of 0.48% to 16.56%[1]. - The projected net profit after deducting non-recurring gains and losses for 2024 is estimated to be between 2.4 billion and 2.8 billion CNY, an increase of 0.62 billion to 0.46 billion CNY compared to the previous year, indicating a year-on-year growth of 2.65% to 19.76%[2]. - In 2023, the company achieved a total profit of 3.754 billion CNY, with a net profit attributable to shareholders of 2.488 billion CNY and a net profit after deducting non-recurring gains and losses of 2.338 billion CNY[3]. - The company reported earnings per share of 1.57 CNY for the previous year[3]. - The performance forecast is based on preliminary estimates by the company's finance department and has not yet been audited by certified public accountants[6]. - Investors are advised to note that the forecast data is preliminary and the final audited financial data will be disclosed in the 2024 annual report[7]. Market Trends and Growth Drivers - The growth in performance for 2024 is attributed to the booming cross-border e-commerce and sustained growth in international air logistics demand, with air freight rates increasing year-on-year[4]. - Global air cargo demand is projected to grow by 8.2% year-on-year in November 2024, marking 16 consecutive months of positive growth[5]. - The cargo and mail transport volume in 2024 is expected to increase by 22.1% year-on-year according to the Civil Aviation Administration of China[5]. - The company aims to focus on its core responsibilities while optimizing its route network and expanding its cross-border e-commerce logistics and air cold chain business[5].