证券代码：601156 证券简称：东航物流 公告编号：临 2025-028 东方航空物流股份有限公司 第三届董事会 2025 年第 3 次例会决议公告 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。 根据《东方航空物流股份有限公司章程》（以下简称《公司章程》）《董事会 议事规则》的有关规定，东方航空物流股份有限公司（以下简称"公司"）第三 届董事会 2025 年第 3 次例会于 2025 年 8 月 28 日以现场结合通讯方式召开。公 司按照规定时间向全体董事发出了会议通知和会议文件，本次董事会应出席董事 9 人，实际出席董事 9 人。董事宁旻因公务原因未亲自出席，委托独立董事陈颂 铭代为出席并表决。本次会议由董事长郭丽君召集和主持，公司监事、高级管理 人员列席会议。 会议的召集及表决程序符合《中华人民共和国公司法》（以下简称《公司法》） 和《公司章程》等有关规定。本次会议审议通过以下议案： 一、审议通过《关于提名公司第三届董事会非独立董事候选人的议案》 董事会同意提名张戬（简历见附件）为公司第三届董事会非独立董事候选人， 任 ...

Core Insights - The launch of the first registered comprehensive aviation pre-cargo station in the country by Eastern Airlines at the Changjiang Delta International Airport in Kunshan significantly enhances logistics efficiency and reduces operational costs for local businesses [1][2] - The pre-cargo station enables a logistics time improvement of over 60% and a cost reduction of over 30% for enterprises in the Kunshan to Shanghai segment [1] - The station connects over 100 airlines and covers more than 100 countries and regions, providing a one-stop aviation logistics solution for local businesses [2] Group 1 - The Kunshan logistics center serves as a "port-type, direct-type" comprehensive aviation pre-cargo station, facilitating a direct global air freight channel for local enterprises [1] - The first batch of export goods was successfully transported to Shanghai Pudong Airport for international dispatch to Frankfurt, Germany, and Ho Chi Minh City, Vietnam [1] - The establishment of the pre-cargo station is a significant upgrade to the Kunshan aviation logistics service system, promoting stable growth in foreign trade [1] Group 2 - The logistics center achieved an import and export cargo value of 1.1 billion USD in the first half of 2025, reflecting a year-on-year growth of 14.84% [2] - Eastern Airlines Logistics aims to expand its reach and enhance global logistics channels for Kunshan and surrounding enterprises [1][2] - The initiative is part of Eastern Airlines' commitment to the integrated development strategy of the Yangtze River Delta and supports the construction of Shanghai as an international shipping center [1]

Core Viewpoint - The opening of the Zhuhai Airport International Cargo Port marks a significant development in establishing a comprehensive international air cargo hub on the west bank of the Pearl River, enhancing logistics efficiency and supporting the Greater Bay Area's economic growth [1][2][5]. Group 1: Infrastructure and Operational Efficiency - The Zhuhai Airport International Cargo Port has been operational since August 27, with its first flight reducing logistics costs by 10% and saving at least 2 hours in transit time compared to routes via Guangzhou and Shenzhen [1][2]. - The port covers an area of 64,700 square meters with a designed annual cargo handling capacity of 150,000 tons, facilitating a full process from collection to customs inspection [2][3]. - The port's establishment is expected to double the cargo throughput at Zhuhai Airport, contributing to the formation of a new regional air logistics pattern [2][3]. Group 2: Strategic Importance and Future Development - The port is positioned as a core air cargo hub in the Greater Bay Area, aiming to connect with major logistics centers in Hong Kong, Shenzhen, Guangzhou, and Macau [2][5]. - Future plans include expanding the international air cargo network and establishing more cargo routes to Asia and beyond, with a target of achieving 15,000 tons of cargo throughput [5][6]. - The port will leverage Zhuhai's comprehensive transportation network, including land, sea, and air, to enhance logistics solutions tailored to local industries such as high-end manufacturing and cross-border e-commerce [6]. Group 3: Market Demand and Industry Trends - The international cargo market is experiencing sustained growth driven by factors such as the rise of cross-border e-commerce, manufacturing upgrades, and supply chain restructuring [4]. - The logistics supply chain is becoming increasingly crucial for supporting industrial upgrades and economic development, emphasizing the need for safe, efficient, and intelligent logistics solutions [4].

Market Overview - The logistics sector experienced a decline of 1.81% on August 27, with Yongtaiyun leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - *ST Yuanshang saw a significant increase of 5.01%, closing at 18.43 with a trading volume of 24,600 [1] - Jiaoyou International rose by 4.39%, closing at 11.88 with a trading volume of 534,100 [1] - Shentong Express increased by 1.45%, closing at 18.24 with a trading volume of 387,800 [1] - Yongtaiyun experienced the largest decline of 6.48%, closing at 24.25 with a trading volume of 49,100 [2] - Hengjidadeng fell by 5.05%, closing at 6.96 with a trading volume of 159,900 [2] - New Ning Logistics dropped by 4.95%, closing at 4.03 with a trading volume of 454,500 [2] Capital Flow Analysis - The logistics sector saw a net outflow of 779 million yuan from institutional investors, while retail investors contributed a net inflow of 514 million yuan [2] - The net inflow from speculative funds was 265 million yuan [2] Detailed Capital Flow for Selected Stocks - Jiaoyou International had a net inflow of 23.72 million yuan from institutional investors, while it faced a net outflow of 24.30 million yuan from speculative funds [3] - Yongtaiyun had a net inflow of 2.08 million yuan from institutional investors, with a significant net inflow of 14.62 million yuan from speculative funds [3] - Shentong Express experienced a net inflow of 5.89 million yuan from institutional investors, but faced a net outflow of 33.15 million yuan from retail investors [3]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002468 | 申通快递 | 18.36 | -4.77% | 61.75万 | 11.43亿 | | 605050 | 福然德 | 15.74 | -4.61% | 20.56万 | 3.26亿 | | 600603 | ST广物 | 8.60 | -2.27% | 19.28万 | 1.67亿 | | 000906 | 浙商中拓 | 6.56 | -2.09% | - 36.42万 | 2.39亿 | | 600119 | 长江投资 | 9.35 | -1.79% | 10.50万 | 9803.19万 | | 300013 | 新宁物流 | 4.13 | -1.20% | 26.67万 | 1.10亿 | | 002889 | 东方嘉盛 | 16.54 | -1.08% | 9.08万 | 1.51亿 | | 600233 | 圆通速递 | 17.57 | -0.96% | 33.29万 | 5.85亿 | | 002800 | 天顺股份 ...

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The opening of the first low-altitude cargo route between Wuhan and Ezhou, along with high passenger traffic at Shanghai ports during the summer season, indicates growth in logistics and transportation [2][3] - Oil shipping rates remain low and fluctuating, while shipping rates for routes to Europe and the US continue to decline [3][16] - Joby Aviation successfully completed the world's first manned eVTOL flight between airports, showcasing advancements in aviation technology [3][17] - National railway coal shipments reached 1.02 billion tons in the first half of 2025, reflecting strong demand in the transportation sector [3][27] Industry Dynamics Shipping and Logistics - Oil shipping rates are experiencing low-level fluctuations, with the China Import Crude Oil Composite Index at 1064.60 points, up 0.7% from the previous week [15] - The shipping market is showing signs of weakness, with rates for routes to Europe and the US declining by 7.2% and 3.5% respectively [16] - The first low-altitude cargo flight between Ezhou and Wuhan was completed, marking a significant development in regional logistics [25][26] Passenger Transport - Shanghai's passenger traffic has remained high, averaging 129,000 daily entries and exits, a year-on-year increase of over 14% [18] - The peak day recorded 157,000 passengers, indicating a strong recovery in air travel [18] Freight and Rail Transport - In the first half of 2025, national railways transported 1.98 billion tons of goods, with coal shipments accounting for 1.02 billion tons [27] - The average daily loading of coal cars was 182,400, reflecting a 3.0% year-on-year increase [27] High-frequency Data Tracking - Air cargo prices have shown a slight decline, with the Shanghai outbound air freight price index at 4455.00 points, down 4.1% year-on-year [28] - The domestic air cargo flight volume increased by 7.61% year-on-year in July 2025, while international flights rose by 23.31% [37] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies such as COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics [5] - Consider opportunities in low-altitude economy investments, particularly in companies like CITIC Offshore Helicopter [5] - Explore investment opportunities in the road and rail sectors, with recommendations for Gansu Expressway, Beijing-Shanghai High-Speed Railway, and others [5] - Pay attention to the express delivery sector, recommending companies like SF Express, Jitu Express, and Yunda [5]

Market Overview - On August 22, the logistics sector declined by 0.49%, with Hengji Daxin leading the drop [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Stock Performance - Notable gainers in the logistics sector included: - Furande (605050) with a closing price of 16.50, up 6.04% and a trading volume of 128,200 shares, totaling 205 million yuan [1] - ST Yuanshang (603813) closed at 16.13, up 5.01% with a trading volume of 4,983 shares, totaling approximately 800,000 yuan [1] - Major decliners included: - Hengji Daxin (002492) closed at 7.24, down 2.82% with a trading volume of 131,800 shares, totaling approximately 96.3 million yuan [2] - Huami Duhai (872351) closed at 29.92, down 2.54% with a trading volume of 26,700 shares, totaling approximately 80.1 million yuan [2] Capital Flow - The logistics sector experienced a net outflow of 317 million yuan from institutional investors, while retail investors saw a net inflow of 245 million yuan [2] - Notable capital flows included: - Donghang Logistics (601156) had a net inflow of 66.26 million yuan from institutional investors, but a net outflow of 46.13 million yuan from retail investors [3] - Furande (605050) saw a net inflow of 33.59 million yuan from institutional investors, with retail investors experiencing a net outflow of 12.39 million yuan [3]

Core Insights - The launch of the first comprehensive aviation pre-cargo station in China by Eastern Airlines at the Kunshan International Airport Logistics Center significantly enhances logistics efficiency and reduces operational costs for businesses in the Yangtze River Delta region [1][2] Group 1: Operational Improvements - Logistics efficiency has improved by over 60%, while operational costs have decreased by over 30% due to the new cargo station [1] - The Kunshan Logistics Center connects over 100 airlines, covering more than 100 countries and regions, and reaching over 1,000 destinations [1] Group 2: Economic Impact - The Kunshan Logistics Center completed an import and export cargo value of $1.1 billion in the first half of the year, representing a year-on-year growth of 14.84% [2] - The establishment of the cargo station is expected to create a "direct global access" air freight channel for local enterprises [1] Group 3: Strategic Partnerships - The launch event included signing ceremonies for collaborations between Kunshan Development Zone and various logistics companies, enhancing the regional logistics network [2]

Group 1 - China Eastern Airlines Logistics has officially launched the first aviation pre-positioned cargo station in Kunshan, marking a significant step in enhancing logistics efficiency in the Yangtze River Delta region [1][4] - The new cargo station allows for the relocation of security checks, customs, and cargo consolidation functions from Shanghai to Kunshan, creating a streamlined service model that emphasizes "one-time security check, efficient customs clearance, and direct access to the airport" [1][4] - The project, initiated in March 2023, aims to improve logistics solutions for local businesses and facilitate rapid connections with major international airports in Shanghai [4][5] Group 2 - By 2025, the aviation pre-positioned cargo station is expected to further optimize processes and reduce cargo dwell time at airport ports, enhancing overall transportation efficiency [4] - The initiative is designed to support high-end manufacturing, cross-border e-commerce, and biopharmaceutical industries in the Yangtze River Delta by providing reliable aviation logistics services [4][5] - China Eastern Airlines Logistics plans to expand the service capabilities of the cargo station and promote the integration of aviation with various industries, contributing to the development of Shanghai as an international aviation hub [5]

Group 1 - The first comprehensive pre-loading cargo station in China, operated by Eastern Airlines, has been launched at the Kunshan International Airport Logistics Center, enhancing logistics efficiency and reducing operational costs for businesses [1] - The Kunshan International Airport has handled over 60,000 cargo items and achieved an import-export volume exceeding $3.4 billion in the past two years [1] - The new cargo station will connect 111 airlines and provide direct access to 1,036 global destinations, improving logistics time by over 60% and reducing costs by more than 30% for businesses in the Kunshan to Shanghai segment [1] Group 2 - Suzhou is increasing collaboration with Shanghai in the aviation logistics sector, with the launch of the first cross-province pre-loading cargo station in April and a cold chain service for biopharmaceutical companies in July [2]