上海吉祥航空股份有限公司 2024年年度股东会决议公告 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 (一)股东会召开的时间：2025 年 05 月 12 日 (二)股东会召开的地点：上海市浦东新区康桥东路 2 弄 2 号楼 2212 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 证券代码：603885 证券简称：吉祥航空 公告编号：2025-037 | 1、出席会议的股东和代理人人数 | 259 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,528,555,970 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 70.6950 | (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议由公司董事长召集，采用现场会议、现场投票与网络投票的方式召开。 公司董事长王均金先生主持会议，符合《公司法》等法律、法规 ...

证券代码：603885 证券简称：吉祥航空 公告编号：临 2025-038 上海吉祥航空股份有限公司 关于注销部分回购股份减少注册资本暨通知债权人的公告 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。 一、通知债权人的原因 1 据原债权文件的约定继续履行，本次回购股份的注销将按法定程序继续实施。 （一）债权申报所需材料 公司债权人如要求本公司清偿债务或提供相应担保的，应根据《中华人民共 和国公司法》等法律法规的有关规定向公司提出书面要求，并随附有关证明文件, 包括但不限于证明债权债务关系存在的合同、协议及其他凭证的原件及复印件等。 1、如债权人为法人的，需同时提交法人营业执照副本复印件、法定代表人 身份证明文件复印件；委托他人申报的，除上述文件外，还需提交法定代表人授 权委托书和代理人有效身份证的复印件。 上海吉祥航空股份有限公司（以下简称"公司"）分别于 2025 年 4 月 18 日、2025 年 5 月 12 日召开公司第五届董事会第十六次会议及 2024 年年度股东 会，审议通过《关于拟变更部分回购股份用途并注销的议案 ...

北京 上海 深圳 杭州 广州 昆明 天津 成都 宁波 福州 西安 南京 南宁 济南 香港 巴黎 马德里 硅谷 BEIJING SHANGHAI SHENZHEN HANGZHOU GUANGZHOU KUNMING TIANJIN CHENGDU NINGBO FUZHOU XI'AN NANJING NANNING JINAN H O N G K O N G PARIS MADRID S I L I C O N V A L L E Y 上海市静安区山西北路 99 号苏河湾中心 MT25-28 楼 邮编：200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China 电话/Tel: +86 21 5234 1668 传真/Fax: +86 21 5234 1670 网址/Website: http://www.grandall.com.cn 国浩律师（上海）事务所 关于上海吉祥航空股份有限公司 2024 年年度股东会的 法律意见书 致：上海吉祥航空股份有限公司 根据《中华人民共和国公司法》（以下简称"《公 ...

上海吉祥航空股份有限公司 公司章程 章程 （2025 年 5 月） 上海吉祥航空股份有限公司 公司章程 目录 第五章 董事会 上海吉祥航空股份有限公司 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东会 第一节 股东 第二节 股东会的一般规定 第三节 股东会的召集 第四节 股东会的提案与通知 第五节 股东会的召开 第六节 股东会的表决和决议 第一节 董事 第二节 董事会 第三节 董事会专门委员会 第六章 总裁及其他高级管理人员 第七章 监事会 第一节 监事 第二节 监事会 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 上海吉祥航空股份有限公司 公司章程 第九章 通知与公告 第一节 通知 第二节 公告 第十章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十一章 修改章程 第十二章 附则 上海吉祥航空股份有限公司 公司章程 上海吉祥航空股份有限公司 章程 第一章 总则 第一条 为维护上海吉祥航空股份有限公司（以下简称"公司"或" ...

Core Viewpoint - 吉祥航空 has announced the resumption of direct flights from Changsha to Osaka starting June 1, 2024, to meet travel demand between Central China and the Kansai economic region, enhancing tourism, cultural, and economic exchanges between China and Japan [1][4]. Group 1: Flight Details - The flight route will operate in two phases: the first phase from June 1 to June 19, with flights on Mondays, Wednesdays, Fridays, and Sundays, and the second phase starting June 20, increasing to daily flights [2][4]. - The initial flight schedule includes departure from Changsha at 10:45 AM, arriving in Osaka at 3:00 PM, and the return flight from Osaka at 4:00 PM, arriving in Changsha at 6:30 PM [2][4]. - From June 20, the departure time from Changsha will be adjusted to 11:15 AM, with arrival in Osaka at 3:30 PM, and the return flight will leave Osaka at 4:30 PM, arriving in Changsha at 7:00 PM [2][4]. Group 2: Market Context and Strategic Importance - The resumption of this route coincides with a 60.8% year-on-year increase in inbound tourists to China in 2024, with a significant rise in Japanese tourists [4]. - The timing aligns with the 2025 Osaka World Expo, providing a convenient travel option for visitors from Central China [4]. - 吉祥航空's expansion now includes 15 routes to Japan, with over 40 flights daily covering major cities such as Tokyo, Osaka, Nagoya, Sapporo, and Kobe [4]. Group 3: Promotional Offers - To celebrate the new route, 吉祥航空 is offering multiple promotions, including an additional free checked bag for all passengers from June 1 to June 30, totaling three bags, and four bags for students with valid identification [5]. - Passengers can earn triple points for flights taken within the first three months and receive an extra 20% in membership points [5]. - Travelers booking flights from June 1 to June 30 will also benefit from a free date change service [5].

Group 1 - Li Auto's founder and CEO Li Xiang's reported salary of 639 million RMB for 2024 is inaccurate, consisting of 2.665 million RMB in salary, 160,000 RMB in retirement contributions, and 636.309 million RMB in stock-based compensation [1][2] - Li Auto has set a target for Li Xiang to achieve annual sales of 500,000 vehicles and for the company's stock price to significantly exceed $29.26 to realize stock compensation, with a current stock price of $25.68 requiring Li Xiang to pay the company $32 million, equivalent to 230 million RMB [2] Group 2 - Geely Auto plans to acquire all outstanding shares of Zeekr, aiming for a complete merger, as Geely currently holds approximately 65.7% of Zeekr's shares [1] - Geely's chairman Li Shufu emphasized the need for business integration and innovation to enhance long-term value in a competitive market [1] Group 3 - Douyin's VP Li Liang commented on the recent incident involving complaints against a brand, advocating for legal action as a more effective means of protecting corporate rights [1] - He highlighted the challenges platforms face in proactively addressing infringement without sufficient information from affected parties [1] Group 4 - Nayuki Tea is undergoing a brand upgrade, introducing a new logo and name as part of its tenth-anniversary celebration [3][5] - This marks the second name change for Nayuki in three years, having previously simplified its name from "Nayuki no Cha" to "Nayuki Tea" [5] Group 5 - JD's customer service acknowledged delays in food delivery during peak times, attributing issues to various factors including city conditions and weather [1] - The platform is currently offering a promotion for free orders if delivery exceeds 20 minutes [1] Group 6 - Nvidia announced the release of the RTX 5060 graphics card, priced at 2499 RMB, with availability starting on May 20 [1] Group 7 - Xiaopeng Motors is considering an IPO for its flying car subsidiary, Xiaopeng Huitian, with plans to list in Hong Kong or the US [1][9] - The company has invited multiple banks to participate in the IPO process [9] Group 8 - Tesla's sales in Europe saw a significant decline in April, with a drop of 81% in Sweden and 46% in Germany, attributed to increased competition and consumer backlash against Elon Musk's political stance [16] - This decline led to a 1.75% drop in Tesla's stock price [16] Group 9 - OpenAI plans to reduce its revenue-sharing ratio with Microsoft by at least half by the end of the decade [16] - Apple is exploring AI-driven search options for its Safari browser, potentially challenging Google's dominance in search [16] Group 10 - TikTok announced a new data center project in Finland with an investment of 1 billion euros, part of a broader initiative to enhance data security in Europe [16] Group 11 - Uber is set to invest an additional 100 million USD in WeRide, marking its largest investment in the autonomous driving sector to date [17] - Samsung's Harman International has acquired Masimo's audio business for 350 million USD [17]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Views - The company reported a slight decline in performance, with Q1 2025 revenue at 5.72 billion yuan, a year-on-year increase of 0.05%, while net profit attributable to shareholders was 350 million yuan, down 7.9% year-on-year [2][6]. - The company faced pressure on revenue due to a high base from the previous year, with a 4.7% year-on-year decline in unit revenue, although the decline was less than that of comparable companies in the industry, indicating resilient demand [11]. - Financial expenses have been reduced, and other income has supported profitability, with a 73 million yuan increase in other income year-on-year in Q1 2025 [11]. Summary by Relevant Sections Financial Performance - In Q1 2025, the company achieved an ASK growth of 6.7% and an RPK growth of 5.0%, with a passenger load factor of 84.1%, down 1.4 percentage points year-on-year [11]. - The company recorded a non-oil cost increase of 3.1% due to engine maintenance and aircraft downtime, which affected profitability [11]. Financial Outlook - The company is expected to see a gradual improvement in profitability due to ongoing operational enhancements and cash flow improvements, with projected net profits of 1.651 billion, 2.295 billion, and 2.788 billion yuan for 2025, 2026, and 2027 respectively [11]. - The current market valuation reflects a PE ratio of 16.52, 11.88, and 9.78 for the years 2025, 2026, and 2027, indicating attractive investment value [11].

在业绩说明会中，吉祥航空董事长王均金告诉投资者，公司将坚持双品牌、双模式及双枢纽运行的发展 战略。"目前，公司正按计划推进国际化战略，吉祥航空已开通上海至雅典、曼彻斯特、悉尼、墨尔 本、布鲁塞尔等洲际航线，并将持续拓展欧洲及大洋洲市场。"王均金在业绩说明会中对投资者介绍。 5月7日，上海吉祥航空股份有限公司（以下简称"吉祥航空"）召开业绩说明会，多位高管就投资者关心 的航线开发、品牌战略、市场布局等热点问题进行了解答。 "国内市场方面，公司会持续优化航线结构质量，满足旅客的出行需求；国际市场方面，公司会持续推 进中转枢纽网络的构建与深化，积极主动地强化与合作各方的交流对接，进一步提升公司在浦东机场的 洲际航线连通能力以及在全球范围内的辐射影响力。"吉祥航空董事长助理兼董事会秘书徐骏民在回答 《证券日报》记者提问时说。 吉祥航空2024年的年报显示，报告期内，吉祥航空航班总量快速恢复，运行总量稳中有升，其中国际航 班全年执行超2万班，同比2023年增长90%，较2019年恢复119%，在飞国际（地区）航点26个。区域布 局呈现三大突破：亚洲方向巩固日本市场（航班量居行业前列），首次开通印尼、马来西亚等东南亚4 ...

Core Viewpoint - The airline industry is experiencing intense competition, leading to a decline in net profits despite slight revenue growth for companies like 吉祥航空 in Q1 2025 [1][4]. Financial Performance - 吉祥航空 reported a revenue of 57.22 billion yuan in Q1 2025, a year-on-year increase of 0.05%, while net profit decreased by 7.87% to 3.45 billion yuan [1]. - The company's net profit excluding non-recurring items fell by 29.50% to 2.63 billion yuan [1][3]. - In 2024, 吉祥航空 achieved a total revenue of 220.95 billion yuan, a 9.95% increase, and a net profit of 9.14 billion yuan, up 17.52% [3]. Industry Trends - The aviation industry is adopting a "price for volume" strategy due to heightened competition and pressure from high-speed rail, resulting in a decline in average ticket prices by over 10% in 2024 [2][4]. - The average revenue per passenger kilometer decreased by 12.5% year-on-year [2]. International Business Expansion - 吉祥航空 significantly increased its international flight operations, executing over 20,000 international flights in 2024, a 90% increase from 2023 [5]. - The international business revenue for 吉祥航空 reached 46.95 billion yuan in 2024, marking an 82.15% increase, while domestic revenue slightly declined by 1.00% [6]. - The company is focusing on expanding its international routes, including new destinations in Europe and Oceania, and enhancing its hub network [6][7]. Market Outlook - The airline industry is expected to see a potential improvement in ticket prices in Q2 2025, driven by seasonal travel demand [4]. - The overall international passenger volume for Chinese airlines increased by 34% year-on-year in Q1 2025, indicating a recovery trend in international travel [6].

Investment Rating - The report rates the transportation industry as "Outperform the Market" [1] Core Insights - COSCO Shipping Specialised Carriers reported a revenue of 5.196 billion yuan in Q1 2025, a year-on-year increase of 51.47%, with a net profit of 345 million yuan, up 1.56% [2][12] - HNA Holding achieved a revenue of 65.236 billion yuan in 2024, reflecting an 11.25% increase, while Guangzhou Baiyun Airport's net profit doubled [2][14] - YTO Express reported a business volume growth of 25.32% in 2024, with a total logistics value of 91 trillion yuan in Q1 2025, marking a 5.7% year-on-year increase [2][18] Summary by Sections 1. Industry Hot Events - COSCO Shipping Specialised Carriers maintained steady growth despite global shipping market volatility, with a Q1 revenue of 5.196 billion yuan, a 51.47% increase year-on-year [12] - HNA Holding's 2024 revenue reached 65.236 billion yuan, an 11.25% increase, while Guangzhou Baiyun Airport's net profit surged by 109.51% [14][16] - YTO Express's business volume grew by 25.32% in 2024, with a logistics total of 91 trillion yuan in Q1 2025, up 5.7% year-on-year [18][19] 2. Industry High-Frequency Data Tracking - In April 2025, domestic air cargo flights decreased by 1.67% year-on-year, while international flights increased by 25.08% [33] - The SCFI index for container shipping reported a decrease of 1.66% week-on-week, while the PDCI index for domestic shipping increased by 0.67% [40] - In March 2025, express delivery volume rose by 20.30% year-on-year, with total revenue reaching 124.6 billion yuan [51] 3. Company Performance - COSCO Shipping Specialised Carriers added 13 new vessels in Q1 2025, increasing total capacity to 691.5 thousand deadweight tons, a 12.53% increase from the end of 2024 [13] - HNA Holding's passenger transport volume exceeded 68 million in 2024, a 14.36% increase, with international passenger transport volume growing by 132.68% [15] - YTO Express's capital expenditure exceeded 6.7 billion yuan in 2024, focusing on automation upgrades and expanding its logistics network [19]