南方航空发布2025年度拟不进行利润分配公告，投资者需关注的关键细节

公告要点概述

• 不进行2025年度利润分配：中国南方航空股份有限公司（简称“南方航空”）董事会于2026年3月30日通过决议，拟定2025年度不进行利润分配，也不实施资本公积转增股本。
• 原因说明：截至2025年12月31日，公司母公司报表显示期末未分配利润为负值，不符合《公司章程》关于利润分配的条件。
• 决策流程合规：该项议案已在第十届董事会审计与风险管理委员会第十一次会议和第十届董事会第十四次会议上审议通过，并将提交至年度股东大会进一步审议。
• 风险提示：本次利润分配方案尚需提交股东大会审议通过后方可最终实施。
• 未触及风险警示条款：公司本次方案未违反《上海证券交易所股票上市规则》第9.8.1条第（八）项关于其他风险警示的相关规定。

投资者需关注的潜在影响及敏感信息

• 分红暂停对股价的潜在影响：

  由于公司2025年度母公司报表未分配利润为负，公司董事会决定不进行利润分配和资本公积转增股本。这意味着投资者在2025财年将不会获得现金分红或红股，对依赖分红收益的投资者来说可能不是利好消息，或对公司股价产生阶段性压力。

• 公司财务状况需关注：

  公告透露公司截至2025年底未分配利润为负，反映出企业在盈利能力上的压力，投资者需关注后续公司盈利恢复情况、成本管控及未来分红政策变化。

• 公司治理合规：

  南方航空严格履行了内部治理和信息披露流程，所有议案均经董事会及相关委员会审议，并将提交年度股东大会表决，保障透明度和合规性。

• 后续事项：

  该利润分配方案仍需年度股东大会通过，股东应关注大会表决结果及公司后续公告。

投资者建议

投资者应密切关注南方航空2025年年度股东大会相关决议和公司盈利改善情况。短期内分红政策的调整及公司盈利压力可能带来股价波动，建议投资者结合自身风险承受能力审慎决策。

免责声明

本文内容仅供投资者参考，不构成任何投资建议。投资有风险，决策需谨慎。请以公司正式公告及股东大会决议为准。

English Version

China Southern Airlines Announces No Dividend Distribution for 2025: Key Details for Investors

Summary of Key Points

• No Dividend Distribution for 2025: The Board of Directors of China Southern Airlines (CSA) resolved on March 30, 2026, not to distribute profits or convert capital reserves into shares for the 2025 fiscal year.
• Reason for No Distribution: As of December 31, 2025, the company’s parent-only financial statements showed a negative undistributed profit, making it ineligible for profit distribution under the company’s Articles of Association.
• Decision-Making Process: The proposal was approved at both the 11th meeting of the 10th Audit and Risk Management Committee and at the 14th meeting of the 10th Board, and will be submitted to the annual shareholders’ meeting for further review.
• Risk Reminder: The proposal is subject to approval at the annual shareholders’ meeting before being implemented.
• No Violation of Risk Warning Clauses: The company’s proposal does not violate the warning clauses of the Shanghai Stock Exchange Listing Rules (Article 9.8.1, Item 8).

Potential Impacts and Price-Sensitive Information for Shareholders

• Potential Share Price Impact Due to Dividend Suspension:

  The absence of profit distribution and share bonus for FY2025 means investors will not receive cash dividends or stock bonuses, which may not be favorable for those relying on dividend income and could exert short-term pressure on the stock price.

• Company’s Financial Condition:

  The announcement highlights that undistributed profits remain negative as of end-2025, indicating ongoing profitability challenges. Investors should monitor CSA’s profitability recovery, cost controls, and future dividend policy adjustments.

• Corporate Governance and Compliance:

  The company has strictly adhered to internal governance and information disclosure procedures, ensuring transparency and compliance by submitting all resolutions to the board and relevant committees, and will table the proposal at the shareholders’ meeting.

• Next Steps:

  The profit distribution plan requires approval from the annual shareholders’ meeting. Shareholders should keep a close eye on the meeting outcomes and future company announcements.

Investor Recommendations

Investors are advised to closely monitor the results of CSA’s 2025 annual shareholders’ meeting and the company’s efforts to improve profitability. The change in dividend policy and the company’s financial challenges may cause short-term share price volatility. Please assess your risk tolerance before making decisions.

Disclaimer

The content above is for reference only and does not constitute investment advice. Investment involves risks. Please refer to official company announcements and shareholder meeting resolutions for final decisions.

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