Core Viewpoint - The company anticipates a net profit attributable to shareholders of RMB 800 million to RMB 1 billion for the fiscal year 2025, indicating a turnaround from previous losses [1] Financial Projections - The net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be between RMB 130 million and RMB 190 million for 2025 [1] Industry Challenges - The civil aviation industry is expected to face significant challenges in 2025, including increased uncertainty in the external environment and ongoing supply chain tensions [1] - Rising costs for aircraft, aviation materials, and engines are contributing to the operational pressures faced by the industry [1] Company Strategies - The company is taking proactive measures to seize market opportunities, including precise capacity deployment and optimizing passenger and cargo operations [1] - There is a strong focus on lean cost management and improving quality and efficiency to enhance operational performance [1]

Core Viewpoint - The integration of aviation and cultural tourism in Hunan is being enhanced through the launch of new services and routes by China Southern Airlines, particularly focusing on the C919 aircraft and improving travel efficiency for the upcoming Spring Festival in 2026 [1][3]. Group 1: Capacity Upgrade - China Southern Airlines will increase the frequency of C919 flights on the Changsha to Beijing Daxing route, with more than three daily flights, making it the first domestic route operated by a large Chinese aircraft to Beijing [3]. - Since the introduction of the C919 in Hunan, the airline has executed 1,675 flights, carrying over 202,700 passengers on key business and tourism routes including Changsha to Guangzhou, Beijing Daxing, and Xi'an [3]. Group 2: Service Efficiency Upgrade - The "One Minute Boarding" service has been officially launched, reducing the boarding time from 30 minutes to 15 minutes for passengers without checked luggage, enhancing the travel experience [3]. Group 3: Cultural Tourism Integration - The "One City, One Month" themed flight plan will collaborate with tourism departments from 14 cities in Hunan, featuring flight attendants as "City Ambassadors" to promote local cuisine, attractions, and cultural heritage [5]. - The airline aims to deepen the integration of aviation and cultural tourism, enhance service quality, and develop integrated products such as "air tickets + scenic spots" and "air tickets + cultural products" to create a comprehensive service system [5].

行 业 及 产 业 交通运输/ 航空机场 2026 年 01 月 30 日 相关研究 《航空"反内卷"初见成效——航空迎来 黄金时代系列报告》 2026/01/20 《景气度持续提升，从量变到质变—— 2025 下半年航空板块投资策略》 2025/06/12 《全球格局持续演变，静待我国航司迈入 成熟期——2025 航空及海外飞机制造链 年度策略》 2024/11/27 《航空出行渐入常态，再强调"国际+供 给"双主线——2024 航空机场中期策 略》 2024/06/14 《不同周期阶段的不同演绎，民航业东升 西降趋势确定-2024 航空机场投资展望》 2023/12/05 证券分析师 王凯婕 A0230525110001 wangkj@swsresearch.com 闫海 A0230519010004 yanhai@swsresearch.com 罗石 A0230524080012 luoshi@swsresearch.com 郑逸欢 A0230526010001 zhengyh@swsresearch.com 联系人 王凯婕 A0230525110001 wangkj@swsresearch.com 本 ...

Core Insights - The event held on January 30 in Changsha focused on the integration of aviation and cultural tourism, highlighting the launch of new services by China Southern Airlines (CSA) to enhance travel experiences and support the tourism industry in Hunan province [1][3]. Group 1: Service Enhancements - CSA's Hunan branch will increase the frequency of flights on the Changsha-Beijing Daxing route using the C919 aircraft, with over three flights daily, expanding its operational network in central China [3]. - The "One Minute Boarding" service has been introduced, reducing the boarding time from 30 minutes to 15 minutes for passengers without checked luggage, enhancing travel efficiency [3]. - A monthly themed flight plan called "One Month, One City" will be launched, featuring flight attendants as "city ambassadors" to promote local cuisine, attractions, and culture from Hunan's 14 cities [3][5]. Group 2: Strategic Goals - CSA aims to deepen the integration of aviation and cultural tourism, enhancing service quality and expanding the C919 aircraft routes to create more premium express services [5]. - The collaboration with Hunan's cultural and tourism departments will lead to innovative integrated products like "air tickets + scenic spots" and "air tickets + cultural products," establishing a comprehensive service system [5]. - The Hunan Provincial Department of Culture and Tourism emphasizes the importance of this initiative in connecting cultural heritage with aviation networks, promoting Hunan as a prominent tourist destination [5].

1月30日，据南航集团消息，2026年春运将从2月2日起拉开序幕，到3月13日收官，共计40天。南航集团 计划在春运期间执行客运航班超12.6万班次（1个往返计2班次，下同）。其中，将在超260条航线上执 行加班约1.3万班次。 ...

Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies, with notable gains for Ningde Times, China Railway, and Shanghai Jahwa, reflecting strong market confidence in these sectors [1][2]. Group 2 - On January 29, the companies with the highest target price increases were Ningde Times (75.79%), China Railway (53.99%), and Shanghai Jahwa (52.17%), indicating significant bullish sentiment in the battery, infrastructure, and cosmetics industries respectively [1][2]. - A total of 27 listed companies received broker recommendations on January 29, with Qingdao Bank receiving the most recommendations at 5, followed by Mingyang Smart Energy and Ruoyuchen with 2 each [1][3]. - Three companies had their ratings upgraded on January 29, including TBEA, which was upgraded from "Hold" to "Buy" by Huatai Securities, reflecting improved outlooks for these firms [4][6]. - Five companies received initial coverage on January 29, with Qingdao Bank rated "Recommended" by Guolian Minsheng Securities, indicating new interest from analysts in these stocks [6][7].

证券代码：600029 证券简称：南方航空 公告编号：临2026-004 中国南方航空股份有限公司 第十届董事会第十二次会议决议公告 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 2026年1月29日，中国南方航空股份有限公司（以下简称"本公司""公司"）第十届董事会第十二次会议 在广州市白云区齐心路68号中国南方航空大厦33楼3301会议室以现场会议结合视频会议的方式召开。本 次会议应出席会议董事7人，实际出席会议董事7人。本次会议由董事长马须伦先生主持，公司部分高级 管理人员列席。本次会议的通知和资料已以书面方式发出。会议的召开及表决等程序符合《中华人民共 和国公司法》以及本公司章程的有关规定。 二、董事会会议审议情况 经出席本次董事会的董事审议并表决，一致通过以下议案： （一）关于聘任公司2026年度外部审计师并决定其酬金的议案； 该议案已经公司董事会审计与风险管理委员会审议通过，并同意提交公司董事会审议。 同意聘任信永中和会计师事务所（特殊普通合伙）为公司2026年度国内财务报告审计师和内部控 ...

中国南方航空（600029）股份(01055)发布公告，2026年1月29日，公司董事会收到曲光吉先生提交的辞 任申请。因工作变动，曲光吉先生申请辞去公司副总经理职务。曲光吉先生的辞任自2026年1月29日起 生效。 ...

毕马威将于完成2025年年度业绩的审计工作及2025年度报告发布后正式退任公司审计师。 中国南方航空（600029）股份(01055)发布公告，毕马威华振会计师事务所(特殊普通合伙)及毕马威会计 师事务所(统称"毕马威")连续十年为公司提供审计服务。根据《国有企业、上市公司选聘会计师事务所 管理办法》的相关规定，经公开招标程序并根据中标结果，公司董事会在取得董事会审计与风险管理委 员会的推荐意见后，决议建议委任信永中和会计师事务所(特殊普通合伙)为公司2026年度国内审计师和 内部控制审计师，信永中和(香港)会计师事务所有限公司为公司2026年度国际审计师(统称"信永中 和")。 ...

毕马威将于完成2025年年度业绩的审计工作及2025年度报告发布后正式退任公司审计师。 智通财经APP讯，中国南方航空股份(01055)发布公告，毕马威华振会计师事务所(特殊普通合伙)及毕马 威会计师事务所(统称"毕马威")连续十年为公司提供审计服务。根据《国有企业、上市公司选聘会计师 事务所管理办法》的相关规定，经公开招标程序并根据中标结果，公司董事会在取得董事会审计与风险 管理委员会的推荐意见后，决议建议委任信永中和会计师事务所(特殊普通合伙)为公司2026年度国内审 计师和内部控制审计师，信永中和(香港)会计师事务所有限公司为公司2026年度国际审计师(统称"信永 中和")。 ...