Core Viewpoint - The issue of "seat locking" and paid seat selection services by airlines has sparked widespread discussion among consumers, with many reporting that desirable seats in economy class are often locked and require additional fees to select [1] Group 1: Investigation Results - The Jiangsu Provincial Consumer Rights Protection Committee conducted a survey of 10 domestic airlines, including China Southern Airlines, Air China, Hainan Airlines, Xiamen Airlines, Shenzhen Airlines, Shandong Airlines, Sichuan Airlines, Eastern Airlines, Spring Airlines, and Juneyao Airlines [1] - The survey revealed that all 10 airlines engage in seat locking practices, with Xiamen Airlines having a seat locking rate as high as 42.5%, while most airlines reported seat locking rates exceeding 30%, and some even surpassing 50% [1] - The Jiangsu Provincial Consumer Rights Protection Committee has issued clear rectification requirements to the 10 airlines regarding the seat locking issue, demanding written reports on corrective actions within 15 working days [1]

Core Points - The company has approved a share repurchase plan to buy back shares using its own and raised funds, with a total repurchase amount between RMB 25 million and RMB 50 million, at a maximum price of RMB 15.80 per share, within a 12-month period [1] Group 1: Share Repurchase Basic Information - The company plans to use the repurchased shares for employee stock ownership plans or equity incentives [1] - The repurchase will be conducted through centralized bidding [1] Group 2: Progress of Share Repurchase - As of November 2025, the company has repurchased a total of 36,474,886 shares, representing 1.67% of the total share capital, with a total expenditure of RMB 463,348,666.73 [2] - The highest purchase price was RMB 13.46 per share, and the lowest was RMB 11.93 per share [2] Group 3: Changes or Termination of Repurchase Plan - The company has changed the purpose of 15 million repurchased shares from employee stock ownership plans to cancellation and reduction of registered capital, which was executed on July 1, 2025 [2] - This change is aimed at enhancing long-term investment value and improving earnings per share [2] Group 4: Adjustments to Repurchase Price Cap - The maximum repurchase price was adjusted from RMB 15.80 to RMB 15.7017 per share starting June 4, 2025, while other aspects of the repurchase plan remain unchanged [3] Group 5: Other Matters - The company will adhere to relevant regulations and will make repurchase decisions based on market conditions, ensuring timely disclosure of progress [5]

近段时间，飞机"锁座"以及有偿选座服务引发广泛热议，不少消费者反映，在线选座时，经济舱前排、靠窗、靠过道等较为便利、舒适的座位常被单独锁 定，要想选择则需要额外付费。对此，消费者是怎么看的呢？ 记者在采访中发现，不少消费者都遭遇过飞机"锁座"的情况。张女士告诉记者，如果没有足够的积分，要想兑换心仪的座位就需要花钱购买积分，对此，张 女士算了一笔账。 消费者 张女士：我在它的App上看到，它显示的是10个积分两块钱。按照这个兑换，第一排需要2000积分，换算下来需要额外加400元，对于我来说是不公 平的。我既然购买了经济舱机票，我应该拥有去选择座位的权利。 江苏省消保委已对10家航司展开调查 针对旅客反映航班"锁座"的问题，江苏省消费者权益保护委员会选取了国内10家航空公司进行调查，包括南方航空、中国国航、海南航空、厦门航空、深圳 航空、山东航空、四川航空、东方航空、春秋航空、吉祥航空，并于近日（11月26日）公布了调查结果。 此次调查通过实际购票体验等方式，重点核查这10家航空公司在经济舱的锁座比例、锁座范围、兑换模式等内容，结果发现，这10家航空公司的经济舱均存 在锁座行为，购票阶段锁座比例介于19.9%到 ...

Group 1: BYD Performance - BYD announced a production of 474,200 new energy vehicles (NEVs) and sales of 480,200 NEVs in November 2025 [1] - Cumulative production for the year reached 4,117,600 units, representing a year-on-year increase of 7.29% [1] - Cumulative sales for the year totaled 4,182,000 units, with a year-on-year growth of 11.30% [1] - In November, BYD exported 131,900 NEVs and installed approximately 27.669 GWh of power batteries and energy storage batteries [1] Group 2: Investment Initiatives - Lushin Venture Capital plans to establish a 400 million yuan investment fund focusing on life sciences, advanced manufacturing, and AI [2] - Chint Electric's wholly-owned subsidiary intends to invest up to 201 million yuan in a green private equity investment fund with a total scale of 700 million yuan [8] Group 3: Corporate Actions - Qianwei Central Kitchen will conduct a shareholder reward activity, offering a product package worth 200 yuan to individual shareholders holding 100 shares or more [3] - Huaxia Happiness plans to use trust beneficiary rights to offset financial debts totaling up to 24 billion yuan as part of its debt restructuring plan [4] - Tailong Pharmaceutical's controlling shareholder is planning a share transfer, leading to a temporary suspension of the company's stock [5] - ST Xianhe has applied to revoke other risk warnings, pending approval from the Shenzhen Stock Exchange [6] - *ST Yuancheng's stock will be delisted due to a market value below 500 million yuan for 20 consecutive trading days [7] Group 4: Sales and Contracts - SAIC Group reported sales of 4,108,000 vehicles from January to November 2025, a year-on-year increase of 16.4% [10] - Geely Automobile's total sales in November reached 310,428 units, marking a 24% increase year-on-year [11] - Far East Holdings' subsidiaries secured contracts worth 2.383 billion yuan in November, positively impacting future earnings [18] - Samsung Medical's subsidiary signed a contract for an annual bidding project in Indonesia worth approximately 160 million yuan [19] - Zhongchao Holdings' subsidiaries recently won contracts totaling 1.318 billion yuan [20] - Changhua Group received a project development notice from a domestic automaker, with an expected total sales amount of approximately 732 million yuan [21]

上海吉祥航空股份有限公司 证券代码：603885 证券简称：吉祥航空 公告编号：2025-082 关于以集中竞价交易方式回购公司股份的回购进展公告 | 回购方案首次披露日 | 2025/2/6 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 1 月 1 | 27 | 日~2026 | 年 | 月 | 26 日 | | 预计回购金额 | 25,000万元~50,000万元 | | | | | | | 回购用途 | √减少注册资本 √用于员工持股计划或股权激励 | | | | | | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 36,474,886股 | | | | | | | 累计已回购股数占总股本比例 | 1.67% | | | | | | | 累计已回购金额 | 463,348,666.73元 | | | | | | | 实际回购价格区间 | 11.93元/股~13.46元/股 | | | | | | 一、回购股份的基本情况 2025 年 1 ...

Group 1 - The core point of the article is that 吉祥航空 (China Eastern Airlines) has repurchased a total of 36.4749 million shares, which represents 1.67% of the company's total share capital, as of November 30, 2025 [1] - The highest purchase price for the repurchased shares was RMB 13.46 per share, while the lowest price was RMB 11.93 per share [1] - The total amount spent on the share repurchase, excluding transaction fees, is RMB 463 million [1]

Group 1 - The core point of the article is that 吉祥航空 (Juneyao Airlines) has announced a share buyback program, repurchasing approximately 36.47 million shares, which represents 1.67% of its total share capital of about 2.184 billion shares, with a total expenditure of approximately 463 million RMB [1][1][1] - The highest purchase price for the shares was 13.46 RMB per share, while the lowest was 11.93 RMB per share [1][1][1] - As of the report, the market capitalization of 吉祥航空 is 29.1 billion RMB [1][1][1] Group 2 - For the first half of 2025, the revenue composition of 吉祥航空 is entirely from transportation, warehousing, and postal services, accounting for 100% [1][1][1]

吉祥航空公告称，2025年1月27日公司拟以2.5亿元-5亿元回购股份，用于员工持股计划或股权激励，回 购期限至2026年1月26日。截至11月30日，累计回购36,474,886股，占总股本1.67%，支付总金额4.63亿 元，回购价11.93元/股-13.46元/股。此外，公司变更1500万股用途并注销，自6月4日起，回购价格上限 由15.80元/股调整为15.7017元/股。 ...

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The report highlights an upward trend in crude oil freight rates, with the China Import Crude Oil Index (CTFI) reaching 2520.07 points, an increase of 8.4% from November 20 [3][13] - The postal industry revenue surpassed the telecommunications industry for the first time in history, reaching 1.47 trillion yuan, compared to 1.467 trillion yuan for telecommunications [3][24] - The civil aviation sector showed growth in both passenger and cargo transport volumes in October, with international routes performing particularly well [3][17] Summary by Sections Industry Hot Events - Crude oil freight rates are rising, with the Middle East route seeing a 10.76% increase in rates [13] - Qifly Aviation signed a procurement agreement for 105 eVTOL aircraft with three companies in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on low-altitude logistics [15][16] - The postal industry revenue for January to October 2025 reached 1.47 trillion yuan, marking a significant milestone [24][25] High-Frequency Data Tracking - The Baltic Air Freight Price Index decreased month-on-month but increased year-on-year [26] - Domestic freight flights in October 2025 increased by 0.32% year-on-year, while international flights rose by 11.12% [32] - The express delivery business volume in October 2025 increased by 7.90% year-on-year, with total revenue reaching 131.67 billion yuan [50] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping and China Merchants Energy [5] - Attention to low-altitude economy investment opportunities, particularly in companies like CITIC Offshore Helicopter [5] - Consider investment opportunities in the express delivery sector, recommending SF Express and Jitu Express [5]

Core Viewpoint - The long-standing and controversial airline "seat locking" phenomenon is expected to undergo rectification following a special investigation by the Jiangsu Provincial Consumer Protection Committee, which has interviewed ten domestic airlines and requested written responses regarding corrective actions [1][5]. Group 1: Investigation Findings - The Jiangsu Provincial Consumer Protection Committee conducted an investigation into the "seat locking" practices of ten major airlines, revealing that the proportion of locked seats during the purchasing phase ranged from 19.9% to 62.1%, with an average of 38.7% [2][3]. - Notably, Spring Airlines' Nanjing-Lanzhou route had a seat locking rate exceeding 60%, while Shenzhen Airlines' Shenzhen-Zhanjiang route exceeded 50% [2][3]. - Other airlines like Hainan Airlines, Eastern Airlines, and Xiamen Airlines had locking rates between 40% and 46%, while Lucky Air had a relatively low rate of less than 20% [2][3]. Group 2: Reasons for Seat Locking - Airlines provided various justifications for seat locking, including reserving seats for special passengers, ensuring emergency seat availability, and maintaining flight load balance [4]. - The investigation identified common issues with the "seat locking" phenomenon, including a lack of clear communication regarding seat locking rules, vague explanations, differential resource allocation based on membership levels, and unilateral rights granted to airlines [4]. Group 3: Consumer Feedback and Reactions - Consumers expressed dissatisfaction with the differentiation of paid and free seating areas in economy class, indicating that such practices increase travel costs and lead to a frustrating experience [6][10]. - Feedback highlighted that many passengers were unaware of the specific rules regarding seat locking, leading to limited seat choices, especially for families traveling together [10][11]. Group 4: Regulatory Actions and Implications - The Jiangsu Provincial Consumer Protection Committee has mandated that the airlines submit written corrective actions within 15 working days, including self-inspections and revisions of unfair terms related to "seat locking" [5][15]. - Legal experts have commented that the "seat locking" practice infringes on consumer rights and may violate consumer protection laws, suggesting that the committee's actions could serve as a model for regulatory oversight in other regions [15][16].