Core Viewpoint - The company Guohang (国货航) has experienced a decline in stock price, closing at 7.0 yuan, down 2.51% from the previous week, with a current market capitalization of 85.462 billion yuan, ranking 2nd in the logistics sector and 157th in the A-share market [1] Group 1: Company Announcements - The company’s articles of association were approved at the 2024 annual shareholders' meeting on May 23, 2025, with a registered capital of 12,208,881,225 yuan and an initial public offering of 1,519,354,020 shares scheduled for listing on December 30, 2024, on the Shenzhen Stock Exchange [2][5] - The company aims to serve national strategies and ensure supply chain stability, aspiring to become a globally competitive comprehensive logistics service provider, with operations in various fields including air cargo, mail transport, aircraft maintenance, and ground services [2] Group 2: Governance Rules - The rules for the shareholders' meeting are designed to protect the legal rights of the company and shareholders, ensuring efficient operation and clear responsibilities, with provisions for regular and extraordinary meetings [3] - The board of directors' rules aim to standardize operational procedures and ensure effective decision-making, with a structure that includes independent and employee directors, and mandates regular meetings at least four times a year [4]

Group 1: Business Overview - China International Cargo Airlines focuses on three main business segments: air cargo, air cargo stations, and integrated logistics solutions [2][3] - As of the end of 2024, the company achieved revenue of CNY 3.98 billion and a gross profit of CNY 590 million from its integrated logistics solutions [3][4] Group 2: Operational Capacity - The company operates a fleet of 22 freighters, including 4 retired aircraft, with B777 and B747 as the main models covering long-haul markets, and A330 as a supplementary model for medium-range markets [4][5] - In 2024, the average daily utilization of freighters was 13.0 hours, with a cargo load factor of 72.5% [3][4] Group 3: Network and Infrastructure - China International Cargo Airlines has established 6 major cargo stations in Beijing, Tianjin, Hangzhou, Chengdu, and Chongqing [4][5] - The company has a logistics service network covering over 40 cities in China, with 4 operational centers in Beijing, Guangzhou, Shanghai, and Chengdu [5][6] Group 4: Competitive Advantages - The company benefits from a strong brand presence as a subsidiary of the Aviation Industry Corporation of China, enhancing its market position [4][5] - A diversified shareholder structure supports long-term development and stability [5][6] - The company has established a high-quality international cargo station network through partnerships with over 30 trucking service providers, covering more than 1,500 global ground routes [5][6] Group 5: Strategic Initiatives - China International Cargo Airlines is committed to enhancing cash management and optimizing the use of funds to improve return on net assets [6][7] - The company has developed a market value management plan to ensure sustainable growth and reasonable returns for investors [6][7]

General Principles - The rules are established to protect the legal rights of China International Cargo Airlines Co., Ltd. and its shareholders, ensuring the proper functioning of the shareholders' meeting in accordance with relevant laws and regulations [1][2] - The rules apply to all shareholders, their representatives, directors, and other relevant personnel attending the shareholders' meeting [2] Shareholders' Meeting Regulations - The shareholders' meeting is the highest authority of the company, and all shareholders have the right to attend and exercise their rights [4][9] - The company must hold an annual shareholders' meeting within six months after the end of the previous fiscal year, and temporary meetings must be held within two months under certain conditions [6][7] Meeting Organization - The board of directors is responsible for organizing the shareholders' meeting and must comply with legal and regulatory requirements [3][5] - Independent directors can propose temporary meetings, and the board must respond within ten days [13][15] Proposals and Notifications - Proposals for the shareholders' meeting must fall within its authority and be submitted by the board, audit committee, or shareholders holding at least 1% of shares [19][20] - Notifications for the meeting must be sent out at least 20 days in advance for annual meetings and 15 days for temporary meetings, detailing the agenda and voting procedures [22][23] Voting and Resolutions - Resolutions can be ordinary or special, with ordinary resolutions requiring a simple majority and special resolutions requiring two-thirds approval [48][49] - Voting must be conducted in a transparent manner, with results announced immediately after the meeting [56][59] Meeting Records - The meeting records must include details such as time, location, attendees, and the results of each proposal, and must be preserved for at least 40 years [65][67] - The rules will take effect upon approval by the shareholders' meeting, replacing any previous regulations [68][70]

中国国际货运航空股份有限公司 董事会议事规则 第一章 总 则 第一条 为规范中国国际货运航空股份有限公司（以下简 称"公司"）董事会的运作程序，确保董事会的工作效率和科 学决策，根据《中华人民共和国公司法（2023 修订）》（以下 简称"《公司法》"）、《上市公司章程指引》、《上市公司 治理准则》等法律法规以及《中国国际货运航空股份有限公司 章程》（以下简称"公司章程"）的有关规定，特制定本规则。 第二条 董事会受股东会委托，负责经营和管理公司的法 人财产，是公司的经营决策中心。 第三条 董事会应当维护党委在公司中发挥把方向、管大 局、保落实的领导作用。公司重大经营管理事项，必须经党委 前置研究讨论后，再由董事会等按照职权和规定作出决定。 第二章 董事会的一般规定 第四条 公司董事会构成按公司章程规定设置，包括适当 比例的独立董事及职工董事。 第五条 职工董事由公司职工通过职工代表大会或者其他 形式民主选举产生。 第六条 董事每届任期三（3）年，任期届满，可连选连任。 但独立董事连任时间不得超过六（6）年。董事任期从选举产 11 生之日起，至本届董事会任期届满时为止。 董事任期届满未及时改选，在改选出的董事就 ...

中国国际货运航空股份有限公司 股东会议事规则 第一章 总 则 第一条 为维护中国国际货运航空股份有限公司（以下 简称"公司"）和股东的合法权益，明确股东会的职责和权 限，保证公司股东会规范、高效、平稳运作及依法行使职权， 根据《中华人民共和国公司法（2023 修订）》（以下简称"《公 司法》"）、《上市公司章程指引》、《上市公司治理准则》、《上 市公司股东会规则》等法律法规以及《中国国际货运航空股 份有限公司章程》（以下简称"公司章程"）的有关规定，特 制定本规则。 第二条 本规则适用于公司股东会，对公司、股东、出 席股东会的股东代理人、公司董事以及列席股东会会议的其 他有关人员均具有约束力。 第三条 公司董事会应严格遵循有关法律、法规及公司 章程关于召开股东会的各项规定组织股东会。公司董事不得 阻碍股东会依法行使职权。 1 第四条 公司登记在册的所有合法、有效持有公司股份 的股东均有权亲自出席或委派股东代理人出席股东会，并依 法享有知情、发言、质询和表决等各项权利。 第五条 出席股东会的股东及股东代理人，应当遵守有 关法律、法规、公司章程及本规则的规定，自觉维护会议秩 序，不得侵犯其他股东的合法权益。 第二 ...

中国国际货运航空股份有限公司 章 程 2022 年 6 月 22 日经公司创立大会暨第一次临时股东大会通过 2022 年 9 月 30 日经公司二〇二二年第五次临时股东大会通过 2023 年 8 月 31 日经公司二〇二三年第二次临时股东大会通过 2024 年 11 月 8 日经公司二〇二四年第五次临时股东大会通过 2025 年 3 月 13 日经公司二〇二五年第一次临时股东会通过 2025 年 5 月 23 日经公司二〇二四年度股东会通过 | . | œ | | --- | --- | | | | | 第一章 | 总则 | 1 | | --- | --- | --- | | 第二章 | | 公司名称和住所 3 | | 第三章 | | 公司经营宗旨和范围 4 | | 第四章 | 股份 | 5 | | 第一节 | | 股份发行 5 | | 第二节 | | 股份增减和回购 7 | | 第三节 | | 股份转让 9 | | 第五章 | 股东和股东会 | 11 | | 第一节 | | 股东的一般规定 11 | | 第二节 | | 控股股东和实际控制人 17 | | 第三节 | | 股东会的一般规定 19 | | 第四 ...

北京市海问律师事务所 关于中国国际货运航空股份有限公司 二〇二四年度股东会的法律意见书 致：中国国际货运航空股份有限公司 三、本次会议的表决程序与表决结果 北京市海问律师事务所（以下简称"本所"）作为中国国际货运航空股份有限 公司（以下简称"国货航"或"公司"）的常年法律顾问，应国货航要求，根据《中 华人民共和国公司法》《中华人民共和国证券法》（以下统称"有关法律"）及《中 国国际货运航空股份有限公司章程》（以下简称"公司章程"）的规定，就国货航 于 2025 年 5 月 23 日召开的二〇二四年度股东会（以下简称"本次会议"）出具本 法律意见书。 一、本次会议的召集和召开程序 经核查《中国国际货运航空股份有限公司第一届董事会第四十五次会议决议公 告》及《中国国际货运航空股份有限公司关于召开二〇二四年度股东会的通知》并 经见证本次会议，本次会议由公司董事会召集，会议召开的时间、地点、方式与会 议通知中所告知的时间、地点、方式一致，本次会议由公司董事长阎非先生主持。 本所律师认为，本次会议的召集和召开程序、召集人的资格符合有关法律和公 司章程的有关规定。 二、出席本次会议现场会议人员资格 海问律师事务所 HAI ...

证券代码：001391 证券简称：国货航 公告编号：2025-033 中国国际货运航空股份有限公司 二〇二四年度股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1.本次股东会未出现否决提案的情形； 2.本次股东会未涉及变更以往股东会已通过决议的情 形。 一、会议召开和出席情况 （一）会议召开情况 1.召开时间： (1)现场会议召开时间：2025年5月23日（星期五）9:30 (2)网络投票时间： 通过深圳证券交易所交易系统投票的时间为2025年5月 23日上午9:15—9:25，9:30—11:30和下午13:00—15:00； 通过深圳证券交易所互联网投票系统 （http://wltp.cninfo.com.cn）投票的时间为2025年5月23 日9:15－15:00期间的任意时间。 2.现场会议召开地点：中国北京市顺义区空港工业区天 柱路29号国货航总部综合楼三楼会议室 1 3.召开方式：采取现场表决与网络投票相结合的方式 4.召集人：本公司董事会 5.主持人：本公司董事长阎非先生 6.本次会议的召开符合《中华人民共和国公司法》 ...

交通运输行业资金流出榜 沪指5月14日上涨0.86%，申万所属行业中，今日上涨的有24个，涨幅居前的行业为非银金融、交通运 输，涨幅分别为3.99%、1.79%。交通运输行业位居今日涨幅榜第二。跌幅居前的行业为国防军工、美 容护理，跌幅分别为0.74%、0.39%。 资金面上看，两市主力资金全天净流入45.92亿元，今日有13个行业主力资金净流入，非银金融行业主 力资金净流入规模居首，该行业今日上涨3.99%，全天净流入资金87.55亿元，其次是交通运输行业，日 涨幅为1.79%，净流入资金为25.32亿元。 主力资金净流出的行业有18个，电力设备行业主力资金净流出规模居首，全天净流出资金28.94亿元， 其次是电子行业，净流出资金为20.89亿元，净流出资金较多的还有国防军工、机械设备、汽车等行 业。 交通运输行业今日上涨1.79%，全天主力资金净流入25.32亿元，该行业所属的个股共125只，今日上涨 的有97只，涨停的有15只；下跌的有21只，跌停的有1只。以资金流向数据进行统计，该行业资金净流 入的个股有78只，其中，净流入资金超亿元的有9只，净流入资金居首的是中远海控，今日净流入资金 4.73亿元， ...

Quantitative Models and Construction Methods 1. Model Name: Index Adjustment Prediction Model - **Model Construction Idea**: The model predicts the adjustment of constituent stocks in major indices (CSI 300 and CSI 500) based on the index compilation rules published by the China Securities Index Company[12][13][15] - **Model Construction Process**: - **Data Reference**: The model uses trading and financial data from May 1 of the previous year to April 30 of the current year for mid-year reviews, and from November 1 of the previous year to October 31 of the current year for year-end reviews[12] - **Adjustment Date**: Adjustments occur on the trading day following the second Friday of June and December each year[12] - **Sample Space**: - Excludes ST, *ST stocks, and delisted securities - Includes STAR Market and ChiNext stocks listed for over a year, or those with daily average market capitalization ranking in the top 30 since listing[12] - **Selection Method**: - For CSI 300: Securities are ranked by daily average trading volume, with the bottom 50% excluded, and then ranked by daily average market capitalization, selecting the top 300[12] - For CSI 500: Excludes CSI 300 constituents and the top 300 by market capitalization, then ranks by trading volume and market capitalization, selecting the top 500[12] - **Buffer Zone Rules**: - CSI 300: New samples ranked in the top 240 are prioritized for inclusion, while existing samples ranked in the top 360 are prioritized for retention[12] - CSI 500: New samples ranked in the top 400 are prioritized for inclusion, while existing samples ranked in the top 600 are prioritized for retention[12] 2. Model Name: Event Return Analysis Model - **Model Construction Idea**: This model analyzes the relationship between index sample adjustments and the cumulative excess returns of the adjusted stocks before and after the adjustment date[24] - **Model Construction Process**: - Collects data on all adjustment cycles since 2010 for CSI 300 and CSI 500 indices[24] - Calculates the cumulative excess returns of adjusted stocks relative to the index over a 60-day window before and after the adjustment date[24] - **Model Evaluation**: The model highlights that pre-adjustment event returns are more significant for investment strategies, as investors can trade in advance based on predictions or announcements[24] --- Model Backtesting Results 1. Index Adjustment Prediction Model - CSI 300 Index: Predicted 7 constituent stock adjustments, with additions primarily in the transportation and defense industries, and removals concentrated in the electrical equipment industry[13][14] - CSI 500 Index: Predicted 49 constituent stock adjustments, with additions mainly in the electronics, electrical equipment, and computer industries, and removals concentrated in the electrical equipment and pharmaceutical industries[15][16][23] 2. Event Return Analysis Model - **CSI 300 Index**: Stocks removed from the index showed negative excess returns before the adjustment date, while no significant conclusions were drawn for added stocks[5][24] - **CSI 500 Index**: Stocks added to the index exhibited positive excess returns before the adjustment date, while removed stocks showed negative excess returns[5][24]