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Edge20 Mar 2026
Tetra Pak: The Shape of Innovation
The story of Tetra Pak, the Rausing family, and how a paper tetrahedron gave rise to a company that now delivers almost 180 billion packages a year.
China Eastern Airlines
China Eastern Airlines (600115) investor relations material
China Eastern Airlines Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary31 Mar, 2026
Executive summary
Revenue reached RMB 139.94 billion in 2025, up 5.92% year-over-year; net loss attributable to shareholders narrowed to RMB -1.63 billion from RMB -4.23 billion in 2024.
Operating cash flow remained strong at RMB 37.94 billion, up 1.68% year-over-year.
International business saw significant growth, with international revenue up 20.82% and international passenger numbers up 21.39%.
The company completed a major acquisition, making STARCO a wholly-owned subsidiary, contributing to investment gains.
No cash dividend was proposed for 2025 due to accumulated losses.
Financial highlights
Operating income: RMB 139.94 billion (+5.92% YoY); operating cost: RMB 132.66 billion (+4.87% YoY).
Net loss attributable to shareholders: RMB -1.63 billion (2024: RMB -4.23 billion).
EBITDA/Total Debt ratio: 0.13 (2024: 0.12); interest coverage improved to 0.98 (2024: 0.22).
Cash and cash equivalents at year-end: RMB 7.16 billion (2024: RMB 4.07 billion).
Total assets: RMB 291.76 billion (+5.48% YoY); asset-liability ratio: 86.69%.
Outlook and guidance
2026 industry forecast: total turnover 175 billion ton-km, passenger volume 810 million, cargo 10.7 million tons.
Strategic focus on safety, digital transformation, international expansion, and brand value enhancement.
Planned introduction of 51 new aircraft in 2026, with continued fleet modernization.
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Latest events from China Eastern Airlines
- Revenue up, profit down in Q3; major capital and share buyback moves underway.600115
Q3 202415 Dec 2025 - Revenue up 29.67% YoY, net loss narrows as international demand rebounds.600115Q2 202415 Dec 2025
- Net loss widened and cash flow declined despite stable revenue amid fierce market competition.600115Q1 202515 Dec 2025
- 2024 revenue up 16%, net loss narrowed, no dividend due to negative profit.600115Q4 20243 Dec 2025
- Q3 net profit surged 34.37% year-over-year, with strong international growth and cost control.600115Q3 202530 Oct 2025
- Revenue up 4.09% YoY to RMB 66.8B, net loss narrows, international traffic rebounds.600115Q2 202529 Aug 2025
Next China Eastern Airlines earnings date
Q1 202630 Apr, 2026
China Eastern Airlines
Next China Eastern Airlines earnings date
Q1 202630 Apr, 2026
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