Hong Kong Exchanges and Clearing
Limited and The Stock Exchange of Hong Kong Limited take no
responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly
disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of
this announcement.
中國國際航空股份有限公司
AIR CHINA
LIMITED
(a joint stock limited
company incorporated in the People's Republic of China with limited
liability)
(Stock
Code: 00753)
FIRST
QUARTERLY REPORT OF 2024
This announcement is made pursuant to Part XIVA of the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong) and Rule 13.09 and Rule 13.10B of the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong
Limited.
The board of directors (the "Board") of Air China Limited (the "Company") held a meeting of the Board on 26 April 2024
and passed the resolution approving the first quarterly report of
2024 of the Company for the period ended 31 March 2024 (the
"Reporting Period" or "Period") prepared in accordance with the PRC Accounting
Standards for Business Enterprises.
IMPORTANT NOTICE
The Board and the supervisory committee of the Company
together with the directors, supervisors and the senior management
of the Company guarantee that the contents of the quarterly report
are true, accurate and complete and do not contain any false
representation, misleading statement or material omission, and
shall jointly and severally accept legal liability.
The person in charge of the Company, person in charge
of accounting function and person in charge of accounting
department (accounting superintendent) hereby guarantee that the
financial information set out in this quarterly report are true,
accurate and complete.
Whether the first quarterly report of the Company is
audited
o Yes þNo
1. MAJOR FINANCIAL
DATA
(1) MAJOR ACCOUNTING DATA AND
FINANCIAL INDICATORS
Unit:
RMB'000
|
Items
|
During the
Reporting Period
|
Increase/
decrease as compared
to the same period of
the previous
year (%)
|
|
|
|
|
|
Revenue
|
40,065,742
|
59.83%
|
|
Net profit attributable to shareholders
of the listed company
|
-1,674,456
|
N/A
|
|
Net profit attributable to shareholders
of the listed company after deducting
non-recurring profits and losses
|
-1,713,176
|
N/A
|
|
Net cash flow from operating activities
|
9,407,344
|
38.42%
|
|
Basic earnings per share (RMB per share)
|
-0.11
|
N/A
|
|
Diluted earnings per share (RMB per share)
|
N/A
|
N/A
|
|
Weighted average return on net assets (%)
|
-4.47%
|
Increased by 3.56
percentage points
|
|
|
At the
end
of the Reporting Period
|
At the
end
of the
previous
year
|
Increase/
decrease at
the end of
the Reporting Period as compared to
the end of
the previous
year (%)
|
|
|
|
|
|
|
Total assets
|
341,316,757
|
335,302,681
|
1.79%
|
|
Owners' equity attributable to shareholders of the
listed company
|
37,343,846
|
37,229,962
|
0.31%
|
(2) Items and amounts of
non-recurring profits and losses
þ Applicable o Not applicable
Unit:
RMB'000
|
Items of non-recurring profits and
losses
|
Amounts
for
the Period
|
|
|
|
|
Gains or losses on disposal of non-current
assets,
including provision for asset impairment being written off
|
-3,507
|
|
Government subsidies recorded in profit or loss for
the current period (excluding those closely related to the
Company's normal business operations, comply with national policies
and regulations, were entitled in accordance with the requirements
determined and posed a lasting impact on the Company's profit or
loss)
|
29,046
|
|
Gain or loss from change in fair value arising from
holding financial assets and financial liabilities by non-financial
enterprises, and gain or loss arising from disposal of financial
assets and financial liabilities, excluding the effective hedging
businesses related with the normal operations of the Company
|
34
|
|
Reversal of provision for impairment of receivable
that has undergone impairment test alone
|
947
|
|
Other non-operating income and
expenses besides the above items
|
21,322
|
|
Less: Effect of income tax
|
5,803
|
|
Effect of non-controlling interests (after tax)
|
3,319
|
|
|
|
|
|
|
|
Total
|
38,720
|
|
|
|
Explanation by the Company of items not listed in the
"Interpretative Announcement for Information Disclosure of
Companies That Issue Securities to the Public No.1 - Non-recurring
Profits and Losses" (《公開發行證券的公司信息披露解釋性公告第1號－非經常性損益》)
which are identified as non-recurring profits and losses items with
significant amount and of non-recurring profits and losses items
listed in the "Interpretative Announcement for Information
Disclosure of Companies That Issue Securities to the Public No.1 -
Non-recurring Profits and Losses" (《公開發行證券的公司信息披露解釋性公告第1號－非經常性損益》)
which are defined as recurring profits and losses items
o Applicable þ Not applicable
(3) Particulars of, and
reasons for, changes in major accounting data and financial
indicators
þ Applicable o
Not applicable
|
Items
|
Percentage
of Change (%)
|
Major Reasons
|
|
|
|
|
|
Revenue
|
59.83
|
With its active investment and production, and
enhanced yield level management capabilities, the operating income
increased significantly year-on-year
|
|
Net profit attributable to shareholders of the listed
company
|
N/A
|
With a significant year-on-year increase in operating
income, as well as strengthening cost control, the loss
significantly reduced year-on-year
|
|
Net profit attributable to shareholders of the listed
company after deducting non-recurring profits and losses
|
N/A
|
With a significant year-on-year increase in operating
income, as well as strengthening cost control, the loss
significantly reduced year-on-year
|
|
Net cash flow from operating activities
|
38.42
|
Mainly due to a substantial year-on-year increase in
operating income
|
|
Basic earnings per share (RMB per share)
|
N/A
|
Mainly due to substantial year-on-year loss
reduction
|
2. INFORMATION OF
SHAREHOLDERS
(1) Total number of holders of
ordinary shares, the number of holders of preference shares with
restored voting rights and the particulars of the top 10
shareholders
Unit:
share
|
Total number of holders of
ordinary shares as at the end
of the Reporting Period
|
167,174
|
Total number of holders of preference
shares with restored voting rights as at the end of the Reporting
Period (if any)
|
/
|
|
Particulars of the top 10 shareholders (excluding shares lent
through securities lending and refinancing)
|
|
Name of shareholder
|
Nature of shareholder
|
Number of
shares held
|
Shareholding percentage
|
Number of
shares held subject to selling restrictions
|
Shares pledged,
marked or frozen
|
|
Status
|
Number
|
|
|
|
|
(%)
|
|
|
|
|
|
|
|
|
|
|
|
|
China National Aviation Holding Corporation
Limited
|
State-owned
legal person
|
6,566,761,847
|
39.57
|
614,525,150
|
Frozen
|
127,445,536
|
|
Cathay Pacific Airways Limited
|
Foreign legal person
|
2,633,725,455
|
15.87
|
0
|
Nil
|
0
|
|
China National Aviation
Corporation (Group) Limited
|
Foreign legal person
|
1,949,262,228
|
11.75
|
392,927,308
|
Frozen
|
36,454,464
|
|
HKSCC NOMINEES LIMITED
|
Foreign legal person
|
1,689,255,335
|
10.18
|
0
|
Nil
|
0
|
|
China Securities Finance Corporation Limited
|
Other
|
311,302,365
|
1.88
|
0
|
Nil
|
0
|
|
China National Aviation
Fuel Group Corporation
|
State-owned legal person
|
238,524,158
|
1.44
|
0
|
Nil
|
0
|
|
Hong Kong Securities
Clearing Company Ltd.
|
Foreign legal person
|
188,468,149
|
1.14
|
0
|
Nil
|
0
|
|
China Structural Reform
Fund Co., Ltd. （中國國有企業結構調整基金股份有限公司）
|
State-owned legal person
|
67,039,106
|
0.40
|
0
|
Nil
|
0
|
|
Bank of China Limited -
China Merchants Anhua Bond Securities Investment Fund
（中國銀行股份有限公司－招商安華債券型證券投資基金）
|
Other
|
50,906,800
|
0.31
|
0
|
Nil
|
0
|
|
Industrial and Commercial Bank of China Limited -
Huatai-PB CSI 300 Open-ended Index Fund （中國工商銀行股份有限公司－華泰柏瑞滬深300交易型開放式指數證券投資基金）
|
Other
|
50,008,602
|
0.30
|
0
|
Nil
|
0
|
|
Particulars of the top 10 shareholders not subject to selling
restrictions
|
|
Name of shareholder
|
Number of
tradable shares held not subject to selling restrictions
|
Type and number of shares
|
|
Type
|
Number
|
|
|
|
|
|
|
China National Aviation Holding Corporation
Limited
|
5,952,236,697
|
RMB ordinary shares
|
5,952,236,697
|
|
Cathay Pacific Airways Limited
|
2,633,725,455
|
Overseas listed
foreign shares
|
2,633,725,455
|
|
HKSCC NOMINEES LIMITED
|
1,689,255,335
|
Overseas listed
foreign shares
|
1,689,255,335
|
|
China National Aviation Corporation (Group)
Limited
|
1,556,334,920
|
RMB ordinary shares
|
1,332,482,920
|
|
|
Overseas listed
foreign shares
|
223,852,000
|
|
China Securities Finance Corporation Limited
|
311,302,365
|
RMB ordinary shares
|
311,302,365
|
|
China National Aviation Fuel Group Corporation
|
238,524,158
|
RMB ordinary shares
|
238,524,158
|
|
Hong Kong Securities Clearing Company Ltd.
|
188,468,149
|
RMB ordinary shares
|
188,468,149
|
|
China Structural Reform Fund Co., Ltd. （中國國有企業結構調整基金股份有限公司）
|
67,039,106
|
RMB ordinary shares
|
67,039,106
|
|
Bank of China Limited - China Merchants Anhua Bond
Securities Investment Fund （中國銀行股份有限公司－招商安華債券型證券投資基金）
|
50,906,800
|
RMB ordinary shares
|
50,906,800
|
|
Industrial and Commercial Bank of China Limited -
Huatai-PB CSI 300 Open-ended Index Fund
（中國工商銀行股份有限公司－華泰柏瑞滬深300交易型開放式指數證券投資基金）
|
50,008,602
|
RMB ordinary shares
|
50,008,602
|
|
Explanation on connected relationship or action in
concert among the above shareholders
|
China National Aviation Corporation (Group) Limited
is a wholly-owned subsidiary of China National Aviation Holding
Corporation Limited. Accordingly, China National Aviation Holding
Corporation Limited is directly and indirectly interested in 51.32%
of the shares of the Company.
|
|
Explanation on the participation of the top 10
shareholders and the top 10 shareholders not
subject to selling restrictions in margin financing
and securities lending as well as margin and
securities refinancing business (if any)
|
Industrial and Commercial Bank of China Limited -
Huatai-PB CSI 300 Open-ended Index Fund has launched refinancing
business. Lending balance at the beginning of the Reporting Period
was 322,600 shares and the lending balance as at the end of the
Reporting Period was 0 share.
|
1. HKSCC NOMINEES
LIMITED is a subsidiary of The Stock Exchange of Hong Kong Limited
and its principal business is acting as nominee for and on behalf
of other corporate shareholders or individual shareholders. The
1,689,255,335 H shares held by it in the Company do not include the
166,852,000 shares held by it as nominee of CNACG.
2. According to the
"Implementation Measures on Partial Transfer of State-owned Shares
to the National Social Security Fund in the Domestic Securities
Market" (Cai Qi [2009] No. 94) (《境內證券市場轉持部分國有股充實全國社會保障基金實施辦法》(財企[2009]94號)) and the Notice
([2009] No. 63) jointly issued by the Ministry of Finance, the
SASAC, China Securities Regulatory Commission and the National
Council for Social Security Fund, 127,445,536 and 36,454,464 shares
held by CNAHC, the controlling shareholder of the Company, and
CNACG respectively are frozen at present.
Share lending by shareholders holding more than 5% of
the shares, top 10 shareholders and top 10 shareholders of
unrestricted tradable shares participating in the refinancing
business
þApplicable o Not applicable
Unit:
share
|
Share
lending by shareholders holding more than 5% of the Shares, top 10
shareholders and
top 10 shareholders of unrestricted tradable shares participating
in the refinancing business
|
|
Name of shareholder
(Full name)
|
Shareholding of ordinary account and credit account as at the
beginning of the Period
|
Share lent
but not yet been returned under refinancing as at the beginning of
the Period
|
Shareholding of ordinary account and credit account as at the
end of the Period
|
Share lent
but not yet been returned under refinancing as at the end of the
Period
|
|
Total
number of shares
|
Percentage
(%)
|
Total
number of shares
|
Percentage
(%)
|
Total
number of shares
|
Percentage
(%)
|
Total
number of shares
|
Percentage
(%)
|
|
|
|
|
|
|
|
|
|
|
|
Industrial and Commercial Bank of China Limited -
Huatai-PB CSI 300 Open-ended Index Fund （中國工商銀行股份有限公司－華泰柏瑞滬深300交易型開放式指數證券投資基金）
|
34,327,902
|
0.21
|
322,600
|
0.002
|
50,008,602
|
0.30
|
0
|
0
|
The top 10 shareholders and top 10 shareholders of
unrestricted tradable shares have changed from the previous period
due to lending/returning from refinancing.
oApplicable þ Not applicable
3. OTHER
ALERTS
Other important information that needs to be brought
to the attention of investors regarding the Company's operations
during the Reporting Period
þ Applicable o
Not applicable
The Company convened the 25th meeting of the sixth
session of the Board on 22 December 2023 and convened the first
extraordinary general meeting of 2024 on 26 January 2024, at which
relevant resolutions, including the proposal in relation to the
issuance of A shares and H shares to specific investors by the
Company in 2023, were approved and passed. On 7 February 2024, the
Company completed the issuance of H shares to a specific investor,
China National Aviation Corporation (Group) Limited. 392,927,308 H
shares were issued at the issue price of HKD5.09 per share. For
details, please refer to the Company's announcements published on
the website of Shanghai Stock Exchange (http://www.sse.com.cn/),
China Securities Journal, Shanghai Securities News and Securities
Daily on 23 December 2023, 27 January 2024 and 8 February 2024
respectively. Changes in the Company's share capital and
shareholders' equity after the completion of the
issuance of H shares to specific investor by the Company in 2023
are as follows:
|
Name of shareholders
|
Before
issuance
|
After
issuance
|
|
Number of
shares held (Share)
|
Percentage
of the total share capital
|
Number of
shares held (Share)
|
Percentage
of the total share capital
|
|
|
|
(%)
|
|
(%)
|
|
|
|
|
|
|
|
CNAHC
|
CNAHC and its persons
acting in concert
|
8,123,096,767
|
50.14
|
8,516,024,075
|
51.32
|
|
Of which, CNAHC directly
holds A shares
|
6,566,761,847
|
40.53
|
6,566,761,847
|
39.57
|
|
Held through CNACG
|
A shares and
H shares
|
1,556,334,920
|
9.61
|
1,949,262,228
|
11.75
|
|
Of which,
A shares
|
1,332,482,920
|
8.22
|
1,332,482,920
|
8.03
|
|
H shares
|
223,852,000
|
1.38
|
616,779,308
|
3.72
|
|
Cathay Pacific Airways Limited
|
2,633,725,455
|
16.26
|
2,633,725,455
|
15.87
|
|
Other A shareholders
|
3,738,864,707
|
23.08
|
3,738,864,707
|
22.53
|
|
Other H shareholders
|
1,705,105,909
|
10.52
|
1,705,105,909
|
10.28
|
|
Total
|
16,200,792,838
|
100.00
|
16,593,720,146
|
100.00
|
4. QUARTERLY
FINANCIAL STATEMENTS
(1) Type of audit opinion
o Applicable þ Not applicable
(2) Financial statements
CONSOLIDATED BALANCE SHEET
31 March 2024
Prepared by Air China Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
31
March
2024
|
31 December
2023
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
Cash and bank balance
|
22,467,149
|
15,628,496
|
|
Provisions on payables
|
|
|
|
Contributions made
|
|
|
|
Financial assets held-for-trading
|
2,538
|
2,505
|
|
Derivative financial assets
|
|
|
|
Bills receivable
|
420
|
3,601
|
|
Accounts receivable
|
4,333,047
|
3,182,797
|
|
Receivables financing
|
|
|
|
Prepayments
|
733,252
|
414,431
|
|
Premium receivable
|
|
|
|
Receivables on reinsurance
|
|
|
|
Provisions for reinsurance contracts
|
|
|
|
Other receivables
|
4,574,631
|
5,437,914
|
|
Including: Interest receivable
|
|
|
|
Dividend receivable
|
|
|
|
Purchase of financial assets resold
|
|
|
|
Inventories
|
4,580,834
|
3,682,821
|
|
Including: Data resources
|
|
|
|
Contract assets
|
|
|
|
Held-for-sale assets
|
42,046
|
108,527
|
|
Non-current assets due within a year
|
|
|
|
Other current assets
|
3,899,107
|
3,873,629
|
|
Total current assets
|
40,633,024
|
32,334,721
|
|
NON-CURRENT ASSETS:
|
|
Loans and advances
|
|
|
|
Debt investments
|
|
|
|
Other debt investments
|
1,268,306
|
1,397,310
|
|
Long-term receivables
|
843,275
|
847,273
|
|
Long-term equity investments
|
15,889,735
|
15,136,903
|
|
Investments in other equity instruments
|
1,451,704
|
1,550,029
|
|
Other non-current financial assets
|
|
|
|
Investment properties
|
318,469
|
320,827
|
|
Fixed assets
|
106,464,568
|
104,970,803
|
|
Construction in progress
|
36,211,168
|
38,407,989
|
|
Biological assets for production
|
|
|
|
Oil and gas assets
|
|
|
|
Right-of-use assets
|
114,375,183
|
116,342,903
|
|
Intangible assets
|
5,726,750
|
5,817,144
|
|
Including: Data resources
|
|
|
|
Development expenses
|
|
|
|
Including: Data resources
|
|
|
|
Goodwill
|
4,097,942
|
4,097,942
|
|
Long-term deferred expenses
|
311,220
|
286,247
|
|
Deferred tax assets
|
13,683,858
|
13,703,962
|
|
Other non-current assets
|
41,555
|
88,628
|
|
Total non-current assets
|
300,683,733
|
302,967,960
|
|
Total assets
|
341,316,757
|
335,302,681
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
Short-term loans
|
22,312,335
|
21,363,178
|
|
Short-term financing bonds payable
|
2,000,502
|
|
|
Borrowings from central bank
|
|
|
|
Contributions received
|
|
|
|
Financial liabilities held-for-trading
|
|
|
|
Derivative financial liabilities
|
|
|
|
Bills payable
|
112,514
|
500,160
|
|
Accounts payable
|
22,045,204
|
18,595,075
|
|
Air traffic liabilities
|
8,260,485
|
8,366,222
|
|
Receipts in advance
|
|
|
|
Contract liabilities
|
1,498,490
|
1,522,492
|
|
Sale of financial assets repurchased
|
|
|
|
Deposits from clients and placements from other
banks
|
|
|
|
Brokerage payable
|
|
|
|
Underwriting fees payable
|
|
|
|
Employee compensations payable
|
2,559,324
|
3,088,820
|
|
Taxes payable
|
409,388
|
571,838
|
|
Other payables
|
17,957,020
|
16,085,401
|
|
Including: Interest payable
|
|
|
|
Dividend payable
|
|
|
|
Fees and commissions payable
|
|
|
|
Amounts payable on reinsurance
|
|
|
|
Held-for-sale liabilities
|
|
|
|
Non-current liabilities due within a year
|
45,957,595
|
40,224,088
|
|
Other current liabilities
|
|
|
|
Total current liabilities
|
123,112,857
|
110,317,274
|
|
|
|
|
|
NON-CURRENT LIABILITIES:
|
|
Reserves on insurance contracts
|
|
|
|
Long-term loans
|
82,075,691
|
80,777,799
|
|
Debentures payable
|
5,197,624
|
9,196,832
|
|
Including: Preference shares
|
|
|
|
Perpetual bonds
|
|
|
|
Lease liabilities
|
62,415,770
|
64,053,967
|
|
Long-term payables
|
26,329,913
|
28,752,343
|
|
Long-term employee compensation payables
|
189,361
|
187,810
|
|
Accrued liabilities
|
4,321,942
|
4,312,660
|
|
Deferred income
|
388,492
|
404,103
|
|
Deferred tax liabilities
|
349,167
|
347,910
|
|
Other non-current liabilities
|
1,896,009
|
1,663,987
|
|
Total non-current liabilities
|
183,163,969
|
189,697,411
|
|
Total liabilities
|
306,276,826
|
300,014,685
|
|
|
|
|
|
OWNERS' EQUITY (OR SHAREHOLDERS'
EQUITY):
|
|
Paid-up capital (or share capital)
|
16,593,720
|
16,200,793
|
|
Other equity instruments
|
|
|
|
Including: Preference shares
|
|
|
|
Perpetual bonds
|
|
|
|
Capital reserve
|
41,010,582
|
39,587,767
|
|
Less: Treasury shares
|
|
|
|
Other comprehensive income
|
188,164
|
215,566
|
|
Special reserves
|
2,940
|
2,940
|
|
Surplus reserves
|
11,564,287
|
11,564,287
|
|
General risk provisions
|
153,747
|
153,747
|
|
Retained earnings
|
-32,169,594
|
-30,495,138
|
|
Total owners' equity (or shareholders' equity)
attributable to the parent company
|
37,343,846
|
37,229,962
|
|
Non-controlling interests
|
-2,303,915
|
-1,941,966
|
|
Total owners' equity (or shareholders' equity)
|
35,039,931
|
35,287,996
|
|
Total liabilities and owners' equity (or
shareholders' equity)
|
341,316,757
|
335,302,681
|
Person in charge of the Company: Mr. Ma Chongxian
Person in charge of accounting function: Mr. Sun
Yuquan
Person in charge of accounting department: Mr. Lyu
Lingfei
CONSOLIDATED INCOME STATEMENT
January to March 2024
Prepared by Air China Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
First
quarter
of 2024
|
First
quarter
of 2023
|
|
|
|
|
|
I. Total revenue from
operations
|
40,065,742
|
25,067,711
|
|
Including: Operating income
|
40,065,742
|
25,067,711
|
|
Interest income
|
|
|
|
Premium earned
|
|
|
|
Fees and commission income
|
|
|
|
|
|
|
|
II. Total operating
cost
|
43,614,326
|
29,749,323
|
|
Including: Operating costs
|
38,728,738
|
26,319,512
|
|
Interest expenses
|
|
|
|
Fees and commission expenses
|
|
|
|
Returned premium
|
|
|
|
Net reimbursement paid
|
|
|
|
Net amounts of provisions on
insurance obligations drawn
|
|
|
|
Bonus paid on insurance policy
|
|
|
|
Reinsurance premium
|
|
|
|
Taxes and other levies
|
64,522
|
69,991
|
|
Selling expenses
|
1,740,842
|
1,120,191
|
|
General and administrative expenses
|
1,290,115
|
1,110,720
|
|
R&D expenses
|
85,305
|
69,676
|
|
Finance expenses
|
1,704,804
|
1,059,233
|
|
Including: Interest expenses
|
1,679,074
|
1,684,838
|
|
Interest income
|
133,626
|
109,982
|
|
Add: Other income
|
993,501
|
628,577
|
|
Investment income (loss is represented by "-"
sign)
|
621,078
|
737,421
|
|
Including: Share of profits of associates and joint
ventures
|
610,519
|
725,728
|
|
Gains on derecognition of financial assets measured
at amortised cost
|
|
|
|
Exchange gains (loss is represented by "-" sign)
|
|
|
|
Gains from net exposure to hedging (loss is
represented by "-" sign)
|
|
|
|
Gains from changes in fair value (loss is represented
by "-" sign)
|
34
|
-271
|
|
Impairment loss of credit (loss is represented by "-"
sign)
|
-9,998
|
-4,422
|
|
Impairment loss of assets (loss is represented by "-"
sign)
|
|
|
|
Gains from disposal of assets (loss is represented by
"-" sign)
|
-2,690
|
25,361
|
|
III. Profit from operations (loss is
represented by "-" sign)
|
-1,946,659
|
-3,294,946
|
|
Add: Non-operating income
|
31,779
|
23,216
|
|
Less: Non-operating expenses
|
11,274
|
10,703
|
|
|
|
|
|
IV. Total profit (total loss is
represented by "-" sign)
|
-1,926,154
|
-3,282,433
|
|
Less: Income tax expenses
|
75,743
|
-8,785
|
|
|
|
|
|
V. Net profit (net loss is
represented by "-" sign)
|
-2,001,897
|
-3,273,648
|
|
(I) Classified by
continuity of operations
|
|
|
|
1. Net profit from continuing operations (net loss is
represented by "-" sign)
|
-2,001,897
|
-3,273,648
|
|
2. Net profit from discontinued operation (net loss
is represented by "-" sign)
|
|
|
|
(II)
Classified by
ownership
|
|
|
|
1. Net profits attributable to shareholders of the
parent company (net loss is represented by "-" sign)
|
-1,674,456
|
-2,926,407
|
|
2. Profit or loss attributable to non-controlling
interests (net loss is represented by "-" sign)
|
-327,441
|
-347,241
|
|
|
|
|
|
VI. Other comprehensive income
after tax, net
|
-61,910
|
-362,071
|
|
(I) Other comprehensive income after tax attributable
to owners of the parent company, net
|
-27,402
|
-350,014
|
|
1. Other comprehensive income that cannot be
subsequently reclassified to profit or loss
|
-37,439
|
-19,768
|
|
(1) Changes arising on remeasurement of defined
benefit plans
|
|
|
|
(2) Other comprehensive income accounted for using
the equity method that cannot be reclassified to profit or loss
|
|
|
|
(3) Change in fair value of investments in other
equity instruments
|
-37,439
|
-19,768
|
|
(4) Change in fair value of own credit risk of the
Company
|
|
|
|
2. Other comprehensive income that will be
reclassified to profit or loss
|
10,037
|
-330,246
|
|
(1) Other comprehensive income accounted for using
the equity method that may be reclassified to profit or loss
|
|
|
|
(2) Change in fair value of other debt
investments
|
1,873
|
-748
|
|
(3) Amount of financial assets reclassified into
other comprehensive income
|
|
|
|
(4) Provisions for credit impairment of other debt
investments
|
-47
|
-405
|
|
(5) Reserve for cash flow hedging
|
|
|
|
(6) Exchange difference on translation of financial
statements in foreign currency
|
8,211
|
-329,093
|
|
(7) Others
|
|
|
|
(II) Other comprehensive income after tax
attributable to non-controlling interests, net
|
-34,508
|
-12,057
|
|
|
|
|
|
VII. Total comprehensive
income
|
-2,063,807
|
-3,635,719
|
|
(I) Total comprehensive income attributable to
owners of the parent company
|
-1,701,858
|
-3,276,421
|
|
(II) Total comprehensive income attributable to
non-controlling interests
|
-361,949
|
-359,298
|
|
|
|
|
|
VIII. Earnings per
share:
|
|
|
|
(I) Basic earnings per share (RMB per
share)
|
-0.11
|
-0.19
|
|
(II) Diluted earnings per share (RMB per share)
|
N/A
|
N/A
|
For business combination under common control during
the Period, the net profit of merged party before the business
combination is RMB0, and the net profit of the merged party for the
last period is RMB0.
Person in charge of the Company: Mr. Ma Chongxian
Person in charge of accounting function: Mr. Sun
Yuquan
Person in charge of accounting department: Mr. Lyu
Lingfei
CONSOLIDATED CASH FLOW STATEMENT
January to March 2024
Prepared by Air China Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
First
quarter
of 2024
|
First
quarter
of 2023
|
|
|
|
|
|
I. Cash flows from
operating activities:
|
|
|
|
Cash received from sales of goods and provision of
services
|
41,114,724
|
28,280,057
|
|
Net increase in deposits from clients and placements
from banks
|
|
|
|
Net increase in borrowings from central bank
|
|
|
|
Net increase in contributions received from other
financial institutions
|
|
|
|
Cash received from premiums of original insurance
contracts
|
|
|
|
Net cash receipt from reinsurance operations
|
|
|
|
Net increase in reserve of the insured and
investment
|
|
|
|
Cash received from interest, fees and commission
|
|
|
|
Net increase in contributions received
|
|
|
|
Net increase in cash from repurchase operations
|
|
|
|
Net cash receipt from securities trading as agent
|
|
|
|
Refund of taxes and levies
|
460,145
|
583,713
|
|
Other cash received relating to operating
activities
|
3,141,718
|
1,340,351
|
|
Subtotal of cash inflows of operating activities
|
44,716,587
|
30,204,121
|
|
Cash paid for goods purchased and services
received
|
23,737,346
|
12,538,632
|
|
Net increase in loans and advances to clients
|
|
|
|
Net increase in deposits in central bank and other
banks
|
|
|
|
Cash paid in respect of claims under original
insurance contracts
|
|
|
|
Net increase in contributions made
|
|
|
|
Cash paid for interest, fees and commissions
|
|
|
|
Cash paid for bonus paid on insurance policy
|
|
|
|
Cash paid to or on behalf of employees
|
8,970,554
|
7,184,047
|
|
Taxes and levies paid
|
374,919
|
353,582
|
|
Other cash paid relating to operating activities
|
2,226,424
|
3,331,702
|
|
Subtotal of cash outflows from operating
activities
|
35,309,243
|
23,407,963
|
|
Net cash flows from operating activities
|
9,407,344
|
6,796,158
|
|
II. Cash flows from investing
activities:
|
|
|
|
Cash received from sale and redemption of
investments
|
126,906
|
231,633
|
|
Cash received from investment income
|
19,286
|
24,479
|
|
Net cash proceeds from disposal of fixed assets,
intangible assets and other long-term assets
|
74,069
|
22,930
|
|
Net cash proceeds from disposal of subsidiaries and
other business units
|
|
|
|
Other cash received relating to investing
activities
|
137,851
|
5,513,783
|
|
Subtotal of cash inflows from investing
activities
|
358,112
|
5,792,825
|
|
Cash paid for purchase and construction of fixed
assets, intangible assets and other long-term assets
|
2,215,067
|
2,266,548
|
|
Cash paid for investments
|
648,991
|
94,801
|
|
Net increase in secured loans
|
|
|
|
Net cash payments for acquisition of subsidiaries and
other business units
|
|
|
|
Other cash paid relating to investing activities
|
4,326
|
3,397
|
|
Subtotal of cash outflows from investing
activities
|
2,868,384
|
2,364,746
|
|
Net cash flows from investing activities
|
-2,510,272
|
3,428,079
|
|
|
|
|
|
III. Cash flows from financing
activities:
|
|
|
|
Cash received from issuance of debentures
|
2,000,000
|
|
|
Cash received from capital injection
|
1,815,742
|
14,993,017
|
|
Including: Cash received from capital injection of
non-controlling shareholders in subsidiaries
|
|
|
|
Cash received from borrowings
|
11,220,916
|
13,814,652
|
|
Other cash received relating to financing
activities
|
|
|
|
Subtotal of cash inflows from financing
activities
|
15,036,658
|
28,807,669
|
|
Cash paid for repayment of borrowings
|
8,768,304
|
4,505,775
|
|
Cash paid for repayment of debentures
|
|
6,000,000
|
|
Cash paid for distribution of dividends, profits or
payment of interest expenses
|
1,735,230
|
1,936,187
|
|
Including: Dividends and profits paid to
non-controlling shareholders by subsidiaries
|
|
|
|
Other cash paid relating to financing activities
|
4,501,831
|
5,120,329
|
|
Subtotal of cash outflows from financing
activities
|
15,005,365
|
17,562,291
|
|
Net cash flows from financing activities
|
31,293
|
11,245,378
|
|
IV. Effect of exchange rate
changes on cash and cash equivalents
|
-9,865
|
-25,125
|
|
|
|
|
|
V. Net increase in cash
and cash equivalents
|
6,918,500
|
21,444,490
|
|
Add: Balance of cash and cash equivalents as at the
beginning of the Period
|
15,016,804
|
10,607,711
|
|
|
|
|
|
VI. Balance of cash and cash
equivalents as at the end of the Period
|
21,935,304
|
32,052,201
|
Person in charge of the Company: Mr. Ma Chongxian
Person in charge of accounting function: Mr. Sun
Yuquan
Person in charge of accounting department: Mr. Lyu
Lingfei
(3) Adjustments made to the
financial statements as at the beginning of the year for the
initial implementation of New Accounting Standards or
interpretation of standards since 2024
o Applicable þ
Not applicable
The announcement is hereby given.
By Order of the Board
Air China
Limited
Xiao
Feng Huen Ho Yin
Joint
Company Secretaries
Beijing, the PRC, 26 April 2024
As at the date of this announcement,
the directors of the Company are Mr. Ma Chongxian, Mr. Wang
Mingyuan, Mr. Feng Gang, Mr. Patrick Healy, Mr. Xiao Peng, Mr. Li
Fushen*, Mr. He Yun*, Mr. Xu Junxin* and Ms. Winnie Tam
Wan-chi*.
* Independent non-executive director
of the Company