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的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：1055） 中國南方航空股份有限公司（「本公司」）將於2026年3月2日（星期一）舉行2026年第一次 臨時股東會（「臨時股東會」）。一份載有將於臨時股東會上提呈的決議案詳情之通函，連 同臨時股東會通知，將在適當時候寄發予股東。 為確定符合資格出席臨時股東會及於會上投票的H股股份持有人，本公司將於2026年2月11 日（星期三）至2026年3月2日（星期一）（包括首尾兩日）暫停辦理H股股份持有人過戶登 記手續。為符合資格出席臨時股東會，所有H股過戶文件連同有關股票須於2026年2月10日 （星期二）下午4時30分前送達本公司香港股份過戶登記處香港中央證券登記有限公司，地 址為香港灣仔皇后大道東183號合和中心17樓1712-1716號鋪，以進行登記。 承董事會命 中國南方航空股份有限公司 聯席公司秘書 陳威華及劉巍 中華人民共和國，廣州 2026年 ...

Core Viewpoint - The aviation and airport sector experienced a decline of 2.33% on January 28, with China Eastern Airlines leading the drop, while the Shanghai Composite Index rose by 0.27% and the Shenzhen Component Index increased by 0.09% [1][3]. Market Performance - The closing prices and performance of key stocks in the aviation and airport sector are as follows: - Shenzhen Airport: 7.25, +1.26%, volume 211,700, turnover 153 million [1] - Xiamen Airport: 17.56, +0.98%, volume 60,500, turnover 106 million [1] - Baiyun Airport: 9.56, +0.53%, volume 226,700, turnover 217 million [1] - China Eastern Airlines: 5.44, -5.88%, volume 2,833,500, turnover 1.571 billion [3] - China Southern Airlines: 7.28, -3.58%, volume 1,041,200, turnover 767 million [3] - China National Aviation: 8.37, -2.33%, volume 985,600, turnover 828 million [3] Capital Flow - The aviation and airport sector saw a net outflow of 99.48 million from institutional investors, while retail investors experienced a net outflow of 14.7 million, and speculative funds had a net inflow of 247 million [4]. - The capital flow for specific stocks includes: - China Eastern Airlines: net inflow from institutions 29.99 million, net outflow from retail -12.8 million [4] - Shenzhen Airport: net inflow from institutions 28.87 million, net outflow from retail -24.85 million [4] - China National Aviation: net inflow from speculative funds 48.49 million, net outflow from retail -49.32 million [4] ETF Performance - Aerospace ETF (Product Code: 159227) tracked the aerospace industry index, with a five-day decline of 2.64% and a net subscription of 85.38 million [6]. - General Aviation ETF (Product Code: 159230) tracked the general aviation industry index, with a five-day decline of 2.52% and a net redemption of -39.41 million [7]. - Tourism ETF (Product Code: 562510) tracked the tourism theme index, with a five-day decline of 4.37% and a net subscription of 7.42 million [7].

| 2000 | 次發展發重機能分改人員名譽 (出版國的 員 Y ) 其中國際發動發展舞蹈的是韓國 | | | | MANTERS BE REGER HEREAS HERE FOR HERE FOR | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | a | Deal 200 | | (終多爾上越,世稱)存股票價股(日/月/第) 脚益 | | | | CS20260127E00333 | 中國獨方航空處國有限公司 400,000(L) | H101(L) | | HKD 5.0811 | 241,994,000(L) 12,00(L)22/01/2026 | | | | CS20260127E00337 | 中國酒批傳圖宜本抄股有限公 (101(L) 400,000(L) | | | HKD 5.0811 | 241,994,000(L) | 12.00(L)22/01/2026 | CS MULTER | 格隆汇1月27日丨根据联交所最新权益披露资料显示，2026年1月22日，中国外运(00598.HK)获中国南方 航空集团有限公司在场 ...

本交易涉及其他关联方：中国南方航空（600029）集团有限公司。 香港联交所最新数据显示，1月22日，中国南航集团资本控股有限公司增持中国外运（601598） (00598)40万股，每股作价5.0811港元，总金额约为203.24万港元。增持后最新持股数目约为2.42亿股， 持股比例为12%。 ...

Core Viewpoint - The aviation and airport sector experienced a decline of 0.82% on January 27, with Spring Airlines leading the drop, while the overall Shanghai Composite Index rose by 0.18% [1]. Market Performance - The Shanghai Composite Index closed at 4139.9, up 0.18% - The Shenzhen Component Index closed at 14329.91, up 0.09% [1]. Individual Stock Performance - Xiamen Airport (600897) closed at 17.39, up 0.58% with a trading volume of 50,100 shares and a turnover of 86.41 million yuan - Shenzhen Airport (000089) closed at 7.16, up 0.14% with a trading volume of 167,000 shares and a turnover of 119 million yuan - Shanghai Airport (600009) closed at 30.94, down 0.35% with a trading volume of 183,700 shares and a turnover of 569 million yuan - Spring Airlines (601021) closed at 57.01, down 1.93% with a trading volume of 49,400 shares and a turnover of 28.5 million yuan [1][3]. Capital Flow Analysis - The aviation and airport sector saw a net outflow of 53.6 million yuan from institutional investors, while retail investors experienced a net outflow of 46.2 million yuan - Speculative funds had a net inflow of 99.8 million yuan [3][4]. Individual Stock Capital Flow - China National Airlines (601111) had a net outflow of 41.69 million yuan from institutional investors, with a retail net outflow of 32.64 million yuan - Shenzhen Airport (000089) saw a net inflow of 25.27 million yuan from institutional investors, while retail investors had a net outflow of 19.11 million yuan - Shanghai Airport (600009) had a net inflow of 4.72 million yuan from speculative funds, but a net outflow of 54.46 million yuan from retail investors [4]. ETF Performance - Aerospace ETF (159227) tracked the national aerospace industry index, with a recent five-day change of 6.64% and a net subscription of 190 million yuan - General Aviation ETF (159230) tracked the national general aviation industry index, with a recent five-day change of 5.15% and a net redemption of 14.27 million yuan - Tourism ETF (562510) tracked the China Securities tourism theme index, with a recent five-day change of -1.79% and a net subscription of 10.83 million yuan [6][7].

Core Insights - China Southern Airlines Henan Aviation has established a comprehensive route network centered around Zhengzhou, connecting 61 domestic and international routes including London, Luxembourg, Seoul, Shanghai, Guangzhou, and Shenzhen [1][3] Group 1: Company Development - The development of China Southern Airlines Henan Aviation is closely linked to the rise of the Zhengzhou Airport Economic Comprehensive Experimental Zone, becoming the first base airline in Henan province [3] - In 2013, the State Council approved the development plan for the Zhengzhou Airport Economic Comprehensive Experimental Zone, providing unprecedented strategic development opportunities for China Southern Airlines [3] - In 2014, China Southern Airlines upgraded its operations in Henan from a "branch company" model to an independent "subsidiary," enhancing governance and integration with the local economy [3] Group 2: Route Expansion and Performance - In 2019, China Southern Airlines launched the first direct flight from Zhengzhou to London, enhancing connectivity between Henan and major global economies [3] - In 2023, to commemorate the 10th anniversary of the Zhengzhou-Luxembourg "Air Silk Road," the airline opened the first direct passenger route from Guangzhou to Luxembourg, further integrating into the experimental zone's development strategy [4] - The airline aims to achieve regular commercial operations of the domestically produced C919 aircraft on the Zhengzhou-Guangzhou route by 2025, while also enhancing boarding efficiency with the introduction of "one-minute boarding" service [4] - In 2023, the total passenger throughput for international and regional routes from Zhengzhou increased by 95.5%, with over 350,000 passengers carried, marking a year-on-year growth of over 100% [4]

Group 1 - The three major Chinese airlines, Air China, China Southern Airlines, and China Eastern Airlines, announced an extension of the free ticket refund and change policy for flights to and from Japan, applicable for tickets purchased before January 26 for travel dates from March 29 to October 24 [1] - The airlines have previously issued special handling plans for tickets related to Japan routes, with the initial free refund and change policy set to expire on March 28 [1] Group 2 - The Chinese Ministry of Foreign Affairs issued a warning advising citizens to avoid traveling to Japan during the upcoming Spring Festival due to rising safety concerns, including an increase in criminal cases against Chinese nationals and recent earthquakes [2] - As of January 26, 2026, there have been 49 flight routes canceled entirely, marking an increase from January, with a cancellation rate of 47.2% for flights from mainland China to Japan in January 2026, up by 7.8 percentage points from December 2025 [2]

Core Viewpoint - The commercial operation of China's C919 aircraft is steadily advancing, with production and delivery entering an accelerated phase, aiming for at least 28 deliveries in 2026, with a production rate of one aircraft every 10 to 15 days [1][3][4]. Production and Delivery - China Commercial Aircraft Corporation (COMAC) is improving the production and delivery pace of the C919 as supply chain issues are gradually resolved, with 15 aircraft delivered in 2025, an increase from 12 in 2024, although still below the initial target of 75 [1][4]. - In the last two months of 2025, 8 out of the 15 delivered C919s were completed, indicating a positive trend in production capacity [4][6]. - The company expects the supply chain situation to continue improving in 2026, with two C919s already entering the delivery process at the start of the new year [3][4]. Engine Supply and Political Factors - The reliance on Western-made LEAP-1C engines poses a challenge for COMAC, as political factors can disrupt engine procurement, making diversification of engine supply sources crucial for long-term supply chain security [4][6][5]. - Despite the political challenges, COMAC is working closely with Western partners to ensure a stable supply of engines, which is seen as the most feasible way to increase production in the short term [6][5]. Market Position and Future Prospects - The C919 has successfully transported over 4 million passengers since its domestic operation began in May 2023, and orders from major airlines are increasing, with plans for each of the three major Chinese airlines to purchase at least 100 C919s by 2031 [9][10]. - The aircraft's international certification process is ongoing, which is essential for competing with Boeing and Airbus in the global market [9][10]. - The entry of COMAC into the market is welcomed by competitors, who acknowledge that competition drives innovation and improvement across the industry [9].

Industry Highlights - The Ministry of Human Resources and Social Security will hold a regular press conference today to introduce the progress of human resources and social security work for 2025 [1] - Intel's first consumer laptops equipped with the third-generation Core Ultra processors will be launched globally today [1] - Microsoft has launched the next-generation AI chip Maia 200, aimed at reducing dependence on Nvidia [1] - The European Union has officially approved a complete ban on the import of Russian natural gas starting next year [1] - Alibaba has officially released the Qwen3-Max-Thinking flagship reasoning model, which is performance-comparable to GPT-5.2 [1] - Nvidia has made an additional investment of $2 billion in CoreWeave to accelerate data center construction [1] - Zijin Mining plans to acquire 100% of Allied Gold Corporation for approximately 28 billion yuan [1] - India is experiencing an outbreak of the Nipah virus, which has a high fatality rate, with vaccines entering clinical trials [1] - Several airlines, including Air China, China Eastern Airlines, and China Southern Airlines, have announced an extension of the free refund and change policy for flights to Japan until October 24 [1] Economic Data - In December, the profit of large-scale industrial enterprises decreased by 13.1% year-on-year [1] - For the entire year, the profit of large-scale industrial enterprises was flat at 0.1% year-on-year [1] - The Dallas Fed Business Activity Index for January was reported at -1.2 [1] - Durable goods orders in the U.S. for November increased by 5.3% month-on-month [1] A-Share Dynamics - Six listed companies are facing stock unlocks, with Haibo Shichuang unlocking 94.64 million shares (52.55% of total shares) and Yalian Machinery unlocking 27.2 million shares (31.18% of total shares) [1] - Several listed companies have announced dividend distributions, with some set for stock registration today and ex-dividend on January 28; Xiyes shares a dividend plan of 1.10 yuan per 10 shares (tax included) [1] - Zhejiang Construction Investment has announced a plan to issue approximately 243 million new shares, with total fundraising not fully disclosed; the listing date for the new shares is set for January 27, 2026 [1] - Ten listed companies have released information regarding suspension and resumption of trading, including ST Changyao, Longyun Co., Debang Co., and Aifute [1]

据新华社消息，国航、南航、东航1月26日发布公告称，根据外交部发布的出行提醒，为协助受影响旅客更好安排出行，针对1月26日12时前已购买、旅行 日期为3月29日至10月24日的上述航空公司日本航线进出港航班客票，可办理免费退改手续。 国航公告—— 南航公告—— 东航公告—— 来源：@新华社 据悉，上述航空公司已多次发布涉日本航线客票特殊处置方案，此前的免费退改政策执行至3月28日。 ...