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。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00753） 海外市場公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條的規定而發表。 附件為中國國際航空股份有限公司於上海證券交易所刊發之 中國國際航空股份有限公司 第七屆董事會第九次會議決議公告 承董事會命 中國國際航空股份有限公司 公司秘書 於本公告日期，本公司的董事為劉鐵祥先生、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*。 * 本公司獨立非執行董事 证券代码：601111 股票简称：中国国航 公告编号：2025-049 中国国际航空股份有限公司 第七届董事会第九次会议决议公告 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。 一、董事会会议召开情况 肖烽 ...

Core Viewpoint - China National Airlines (SH 601111) announced a plan to issue A-shares to specific entities, aiming to raise up to RMB 20 billion for debt repayment and working capital enhancement [1]. Group 1: Share Issuance Details - The board meeting held on October 30, 2025, approved the issuance of A-shares to specific entities, namely AVIC Group and AVIC Holdings [1]. - The total number of A-shares to be issued will not exceed approximately 3.044 billion shares, representing up to 30% of the company's total share capital before the issuance [1]. - The pricing for the shares will be set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date or the higher of the latest audited net asset value per share [1]. Group 2: Financial Utilization - The funds raised from this issuance will be used entirely for debt repayment and to supplement working capital after deducting issuance costs [1]. Group 3: Revenue Composition - For the first half of 2025, the revenue composition of China National Airlines was as follows: passenger transport accounted for 90.64%, other services for 4.93%, and air cargo and mail transport for 4.43% [1]. Group 4: Market Capitalization - As of the report date, the market capitalization of China National Airlines was RMB 149.2 billion [2].

Core Insights - Beijing's inbound tourism market is experiencing rapid growth, with a 42.9% year-on-year increase in inbound visitors from January to September, totaling 3.884 million [3][4] - The total tourism expenditure reached $50.2 billion, marking a 47.1% increase compared to the previous year [3][4] - The recent National Day and Mid-Autumn Festival saw a 48% increase in inbound visitors, totaling 119,000, and a 54.1% increase in spending, amounting to 1.23 billion yuan [3][4] Policy Initiatives - The Beijing Municipal Bureau of Culture and Tourism introduced the "Beijing Inbound Tourism Service Optimization Action Plan," which includes 22 practical measures across product, promotion, service, and support [3][4] - A new funding management method was established to reward qualifying travel agencies and tourist attractions, enhancing market participation [3][4] Service Enhancements - Beijing has implemented a "temporary entry permit" area for streamlined processing and optimized group visa measures, allowing for online submission and immediate collection [4] - The city has improved cash services and mobile payment options for inbound tourists, including a new "Travel Pass" for seamless payment and communication [4] Tax Refund Improvements - The city has five centralized tax refund points for tourists, allowing for "buy and refund" services at over 1,500 stores [5] - The tax refund limit was raised from 50,000 yuan to 220,000 yuan, and the refund processing time extended from 17 days to 28 days, enhancing the shopping experience for international visitors [5][6] Product Development - Future plans for inbound tourism focus on high-quality, sustainable development, with an emphasis on diverse product offerings and thematic routes [7] - The "Beijing New Discoveries" initiative features ten themed routes, including experiences in traditional neighborhoods and industrial heritage sites [7][8] Market Participation - Companies like Ctrip, Air China, and Wormhole Creative are actively developing inbound tourism products, such as free half-day tours and VR experiences [8] - The combination of favorable policies, enhanced services, and diversified product offerings is positioning Beijing as a premier global travel destination [8]

Group 1 - The policy benefits are continuously being released, accelerating the inbound tourism market in Beijing, with a notable shift towards deep experience consumption models driven by the growth of independent travelers [1] - The inbound tourism market is in a rapid recovery phase, with the Italian market growing by 38% compared to 2019, and the Spanish market increasing by 20%, although challenges such as a shortage of small language guides remain [3] - The trend of independent travel is becoming mainstream, with a decrease in group travel, attributed to optimized visa policies and improved transportation convenience in China [6] Group 2 - The "Free Beijing Half-Day Tour" project has been upgraded to offer one-stop services, including attraction tickets, transportation, and cultural experiences, addressing the diverse needs of inbound tourists, especially families [8] - Air China operates 127 international and regional routes, providing a rich travel choice, and is exploring the "ticket root economy" model to enhance on-site consumption for inbound tourists [10] - The integration of technology and culture in tourism experiences is gaining traction, with strong interest from foreign tourists in innovative products, such as VR experiences, which are expected to enhance the inbound tourism product system [12][13]

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。 由於飛機出售框架協議項下的交易之各年度年度上限最高適用百分比率高於0.1%但低 於5%，故飛機出售框架協議項下之交易須遵守香港上市規則第14A章項下公告及年度 審核之規定，但獲豁免遵守獨立股東批准的規定。 - 1 - I. 飛機出售框架協議 於二零二五年十月三十日，本公司與北京租賃公司訂立飛機出售框架協議，據此， 在飛機出售框架協議約定期限內本公司不定期向北京租賃公司以協議轉讓方式出售 本公司擁有所有權的飛機。飛機出售框架協議的有效期自二零二五年十月三十日至 二零二七年十二月三十一日。 00753 持續關連交易 持續關連交易 於二零二五年十月三十日，本公司與北京租賃公司訂立飛機出售框架協議，據此，在 飛機出售框架協議約定期限內，本公司將不定期向北京租賃公司以協議轉讓方式出售 本公司擁有所有權的飛機。飛機出售框架協議的有效期自二零二五年十月三十日至二 零二七年十二月三十一日。 香港上市規則涵義 北京租賃公 ...

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、董事会会议召开情况 中国国际航空股份有限公司（以下简称"公司"）第七届董事会第九次会议 （以下简称"本次会议"）的通知和材料已于 2025 年 10 月 20 日以电子邮件的方 式发出。本次会议于 2025 年 10 月 30 日 14:00 在北京市顺义区天柱路 30 号国航 总部大楼 C713 会议室以现场结合视频方式召开。本次会议应出席董事 9 人，实 际出席董事 9 人，副董事长王明远先生、董事崔晓峰先生因公务委托董事长刘铁 祥先生出席并表决，董事贺以礼先生因公务委托独立董事禾云先生出席并表决， 董事肖鹏先生因公务委托独立董事高春雷先生出席并表决。本次会议由董事长刘 铁祥先生主持，公司高级管理人员列席本次会议。本次会议的召集和召开符合 《公司法》等相关法律、行政法规、规章、规范性文件以及公司章程的规定，合 法、有效。 二、董事会会议审议情况 本次会议审议并通过了如下议案： （一）关于 2025 年第三季度报告的议案 证券代码：601111 股票简称：中国国航 公告编号 ...

证券代码：601111 证券简称：中国国航 中国国际航空股份有限公司 2025 年度向特定对象发行 A 股股票方案 论证分析报告 二〇二五年十月 | 日求 ………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 1 | | --- | | 释义 | | 一、本次发行的背景与目的………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 3 | | (一) 本次向特定对象发行 A 股股票的背景 | | (二) 本次向特定对象发行 A 股股票的目的 | | 二、本次发行证券及其品种选择的必要性 | | (一 ) 本次发行证券的品种选择 | | (二) 本次发行证券品种选择的必要性 | | 三、本次发行对象的选择范围、数量和标准的话当性… | | 四、本次发行定价的原则、依据、方法和程序的合理性 | | (一) 本次发行定价的 ...

证券代码：601111 证券简称：中国国航 2、本次向特定对象发行 A 股股票完成后，公司经营与收益的变化，由公司 自行负责；因本次向特定对象发行 A 股股票引致的投资风险，由投资者自行负 责。 3、本预案是公司董事会对本次向特定对象发行 A 股股票的说明，任何与之 相反的声明均属不实陈述。 中国国际航空股份有限公司 2025 年度向特定对象发行 A 股股票预案 二〇二五年十月 中国国际航空股份有限公司 向特定对象发行 A 股股票预案 公司声明 1、公司及董事会全体成员保证本预案内容真实、准确、完整，并确认不存 在虚假记载、误导性陈述或重大遗漏，并对其内容的真实性、准确性、完整性承 担法律责任。 中国国际航空股份有限公司 向特定对象发行 A 股股票预案 特别提示 4、投资者如有任何疑问，应咨询自己的股票经纪人、律师、专业会计师或 其他专业顾问。 本部分所述的词语或简称与本预案"释义"中所定义的词语或简称具有相同 的含义。 1、本次向特定对象发行 A 股股票相关事项已经 2025 年 10 月 30 日召开的 公司第七届董事会第九次会议审议通过。 根据有关法律法规的规定，本次向特定对象发行 A 股股票相关事项尚 ...

证券代码：601111 股票简称：中国国航 公告编号：2025-054 中国国际航空股份有限公司 关于向特定对象发行股票股东权益变动的 提示性公告 本公司及董事会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： 本次权益变动源于中国国际航空股份有限公司（以下简称"本公司"或 "公司"）2025 年度向特定对象发行 A 股股票（以下简称"本次向特定对象发行" 或"本次发行"）。 本次权益变动不会导致公司控股股东及实际控制人发生变化。 本次向特定对象发行 A 股股票的交易对象是公司控股股东中国航空集团 有限公司（以下简称"中航集团"）和中航集团的全资子公司中国航空资本控股有 限责任公司（以下简称"中航控股"）。本次向特定对象发行 A 股股票相关事项尚 需履行国有资产监督管理职责的主体批准、公司股东大会审议通过、上海证券交 易所审核通过并报中国证券监督管理委员会（以下简称"中国证监会"）注册，在 中国证监会同意注册后方可实施。本次发行完成后，公司控股股东中航集团及其 下属全资子公司最终持有公司的股份比例将提升至约 60.58%。 1 ...

Core Viewpoint - China National Airlines (601111.SH) reported a slight increase in revenue for the first three quarters of 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - For the first three quarters, the company achieved operating revenue of 129.826 billion yuan, representing a year-on-year increase of 1.31% [1] - The net profit attributable to shareholders for the same period was 1.870 billion yuan, reflecting a year-on-year growth of 37.31% [1] - In the third quarter, the company recorded operating revenue of 49.069 billion yuan, which is a year-on-year increase of 0.90% [1] - The net profit attributable to shareholders in the third quarter was 3.676 billion yuan, showing a year-on-year decline of 11.31% [1]