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)
THIRD
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", together with its subsidiaries,
the "Group") held a meeting of the Board on
30 October 2024 and passed the resolution approving the third
quarterly report of 2024 (the "Quarterly
Report") of the Company for the period ended 30 September
2024 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 the Quarterly Report is
true, accurate and complete.
Whether the financial statements of
the third quarter are audited
Yes ✓ No
I. MAJOR FINANCIAL
DATA
(1) Major
accounting data and financial indicators
Unit:
RMB'000
|
Items
|
The
Reporting Period
|
Increase/decrease of the Reporting Period as compared to the
corresponding period of the previous year
(%)
|
For the
period from the beginning of the year to the end of the Reporting
Period
|
Increase/decrease for the period from the beginning of the
year to the end of the Reporting Period as compared to the
corresponding period of the previous year
(%)
|
|
|
|
|
|
|
|
Revenue
|
48,629,587
|
6.03
|
128,149,919
|
21.50
|
|
Net profit attributable to
shareholders of the listed company
|
4,144,237
|
-2.31
|
1,361,747
|
72.06
|
|
Net profit attributable to
shareholders of the listed company after deducting non-recurring
profits and losses
|
3,872,907
|
-4.73
|
432,698
|
N/A
|
|
Net cash flows from operating
activities
|
N/A
|
N/A
|
30,741,937
|
-7.06
|
|
Basic earnings per share (RMB per
share)
|
0.26
|
-7.14
|
0.09
|
68.22
|
|
Diluted earnings per share (RMB per
share)
|
0.26
|
-7.14
|
0.09
|
68.22
|
|
Weighted average return on net
assets (%)
|
10.76
|
Decreased
by 0.7 percentage point
|
3.44
|
Increased
by 1.39 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
|
344,550,972
|
335,302,681
|
2.76
|
|
Owners'equity attributable to
shareholders of the listed company
|
40,543,145
|
37,229,962
|
8.90
|
Note: the
"Reporting Period" refers to the 3-month period from the beginning
of this quarter to the end of this quarter, the same
below.
(2) Items
and amounts of non-recurring profits and losses
✓Applicable ▢ Not
applicable
Unit:
RMB'000
|
Items of non-recurring profits and
losses
|
Amounts
for the Period
|
Amounts
for
the period from the beginning of the year
to the end of the
Reporting Period
|
|
|
|
|
|
Gains or losses on disposal of
non-current assets, including provision for asset impairment
being
written off
|
186,247
|
941,730
|
|
Government subsidies recorded in
profit or loss for the current period (excluding those closely
related to the Company's normal business operations, in compliance
with national policies and regulations, were entitled in accordance
with the established standards and posed a lasting impact on the
Company's profit or loss)
|
18,563
|
240,780
|
|
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 to
the normal business operations of the Company
|
467
|
87
|
|
Reversal of provision for impairment
of receivable that has undergone impairment test alone
|
40,716
|
50,836
|
|
Other non-operating income and
expenses besides the above items
|
66,667
|
265,229
|
|
Other profits and losses items
falling within the
definition of non-recurring profits and losses
|
|
|
|
Less: Effect of income
tax
|
3,812
|
125,221
|
|
Effect of non-controlling interests
(after tax)
|
37,518
|
444,392
|
|
|
|
|
|
|
|
|
|
Total
|
271,330
|
929,049
|
|
|
|
|
Explanation on recognising items not
listed in the "Explanatory Announcement No. 1 on Information
Disclosure of Companies That Issue Securities to the Public -
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》) as non-recurring profits and losses
items with significant amounts and defining non-recurring profits
and losses items listed in the "Explanatory Announcement No. 1 on
Information Disclosure of Companies That Issue Securities to the
Public - 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》) as recurring profits and losses
items of the Company.
Applicable ✓ Not applicable
(3)
Particulars of, and reasons for, changes in major accounting data
and financial indicators
✓Applicable ▢ Not
applicable
|
Items
|
Percentage
of Change (%)
|
Major Reasons
|
|
|
|
|
|
Net profit attributable to
shareholders of the listed company
|
72.06
|
Revenue increased significantly
on a year-on-year basis, while
the Company strengthened cost control measures, profit increased
significantly on a year-on-year basis
|
|
Net profit attributable to
shareholders of the listed company after deducting non-recurring
profits and losses
|
N/A
|
Revenue increased significantly
on a year-on-year basis, while
the Company strengthened cost control measures, profit increased
significantly on a year-on-year basis
|
|
Basic earnings per share
(RMB per share)
|
68.22
|
Mainly due to profit increased
significantly on a year-on-year basis
|
II.
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
|
160,825
|
|
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 ("CNAHC")
|
State-owned legal person
|
6,566,761,847
|
39.57
|
0
|
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 ("CNACG")
|
Foreign legal person
|
1,949,262,228
|
11.75
|
392,927,308
|
Frozen
|
36,454,464
|
|
HKSCC NOMINEES LIMITED
|
Foreign legal person
|
1,689,397,335
|
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 Limited
|
Foreign legal person
|
234,543,256
|
1.41
|
0
|
Nil
|
0
|
|
Industrial and Commercial Bank of
China Limited - Huatai-PineBridge CSI 300 Exchange-traded Open-end
Index Securities Investment 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
|
88,419,202
|
0.53
|
0
|
Nil
|
0
|
|
Huatai Premium Commingled No. 5
Pension Product - Bank of China Limited (華泰優逸五號混合型養老金產品－中國銀行股份有限公司)
|
Other
|
78,900,000
|
0.48
|
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
|
|
Particulars of the top 10 shareholders not subject to selling
restrictions
(excluding shares lent through securities lending and
refinancing)
|
|
Name of shareholder
|
Number of
tradable shares held not subject to selling restrictions
|
Type and number of shares
|
|
Type of
shares
|
Number
|
|
|
|
|
|
|
China National Aviation Holding
Corporation Limited
|
6,566,761,847
|
RMB
ordinary shares
|
6,566,761,847
|
|
Cathay Pacific Airways
Limited
|
2,633,725,455
|
Overseas
listed foreign shares
|
2,633,725,455
|
|
HKSCC NOMINEES LIMITED
|
1,689,397,335
|
Overseas
listed foreign shares
|
1,689,397,335
|
|
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 Limited
|
234,543,256
|
RMB
ordinary shares
|
234,543,256
|
|
Industrial and Commercial Bank of
China Limited - Huatai-PineBridge CSI 300 Exchange-traded Open-end
Index Securities Investment 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)
|
88,419,202
|
RMB
ordinary shares
|
88,419,202
|
|
Huatai Premium Commingled No. 5
Pension Product - Bank of China Limited (華泰優逸五號混合型養老金產品－中國銀行股份有限公司)
|
78,900,000
|
RMB
ordinary shares
|
78,900,000
|
|
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
|
|
Explanation on connected
relationship or action in concert among the above
shareholders
|
CNACG is a wholly-owned subsidiary
of CNAHC. Accordingly, CNAHC is directly and indirectly interested
in 51.32% of the shares of the Company.
|
|
Description of the margin financing
and securities lending and refinancing by top 10 shareholders and
top 10 shareholders not subject to selling restrictions (if
any)
|
Industrial and Commercial Bank of
China Limited - Huatai-PineBridge CSI 300 Exchange-traded Open-end
Index Securities Investment 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 1,689,397,335 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 State-owned Assets
Supervision and Administration Commission of the State Council,
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.
3. On
17 July 2024, 614,525,150 A shares of the Company held by CNAHC
from the non-public issuance were released from lock-up.
Shares lent through securities
lending and refinancing by shareholders holding more than 5% of the
shares, top 10 shareholders and top 10 shareholders not subject to
selling restrictions
✓Applicable
▢ Not applicable
Unit:
share
|
Shares
lent through securities lending and refinancing by shareholders
holding more than 5% of the shares,
top 10
shareholders and top 10 shareholders not subject to selling
restrictions
|
|
|
Shareholding of ordinary account and credit account as at the
beginning of the Period
|
Share
lent through securities lending and refinancing and
not yet been returned at the beginning of the Period
|
Shareholding of ordinary account and credit account as
at the end of the Period
|
Share
lent through securities lending and refinancing and
not yet been returned at the
end of the Period
|
|
Name of shareholder
(Full name)
|
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-PineBridge CSI 300 Exchange-traded Open-end
Index Securities Investment 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
|
88,419,202
|
0.53
|
0
|
0
|
Changes in top 10 shareholders and
top 10 shareholders not subject to selling restrictions from the
previous period due to lending/returning of shares through
securities lending and refinancing
Applicable ✓ Not applicable
III. OTHER
REMINDER
Other important information that
needs to be brought to the attention of investors regarding the
Company's operations during the Reporting Period
✓Applicable ▢ Not
applicable
On 26 April 2024, the Resolution in
Relation to the Introduction of 100 C919 Aircraft was considered
and passed at the 29th meeting of the sixth session of the Board of
the Company. On 9 August 2024, such resolution was considered and
approved at the 2024 second extraordinary general meeting of the
Company. For details, please refer to the relevant announcements of
the Company published on the website of the Shanghai Stock Exchange
(http://www.sse.com.cn/) and China Securities Journal, Shanghai
Securities News and Securities Daily on 27 April 2024 and 10 August
2024, respectively.
IV. QUARTERLY
FINANCIAL STATEMENTS
(1) Type of
audit opinion
Applicable ✓ Not applicable
(2)
Financial statements
CONSOLIDATED BALANCE SHEET
30
September 2024
Prepared by Air China
Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
30
September 2024
|
31
December 2023
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
Cash and bank balance
|
21,852,907
|
15,628,496
|
|
Provisions on payables
|
|
|
|
Contributions made
|
|
|
|
Financial assets
held-for-trading
|
2,593
|
2,505
|
|
Derivative financial
assets
|
|
|
|
Bills receivable
|
3,025
|
3,601
|
|
Accounts receivable
|
3,840,484
|
3,182,797
|
|
Receivables financing
|
|
|
|
Prepayments
|
456,703
|
414,431
|
|
Premium receivable
|
|
|
|
Receivables on
reinsurance
|
|
|
|
Provisions for reinsurance
contracts
|
|
|
|
Other receivables
|
5,142,200
|
5,437,914
|
|
Including: Interest
receivable
|
|
|
|
Dividend receivable
|
|
|
|
Purchase of financial assets
resold
|
|
|
|
Inventories
|
5,002,901
|
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
|
4,005,251
|
3,873,629
|
|
Total current assets
|
40,348,110
|
32,334,721
|
|
|
|
|
|
NON-CURRENT ASSETS:
|
|
|
|
Loans and advances
|
|
|
|
Debt investments
|
|
|
|
Other debt investments
|
1,403,840
|
1,397,310
|
|
Long-term receivables
|
823,974
|
847,273
|
|
Long-term equity
investments
|
16,620,371
|
15,136,903
|
|
Investments in other equity
instruments
|
1,845,858
|
1,550,029
|
|
Other non-current financial
assets
|
|
|
|
Investment properties
|
310,812
|
320,827
|
|
Fixed assets
|
106,740,664
|
104,970,803
|
|
Construction in progress
|
37,620,110
|
38,407,989
|
|
Biological assets for
production
|
|
|
|
Oil and gas assets
|
|
|
|
Right-of-use assets
|
115,056,191
|
116,342,903
|
|
Intangible assets
|
5,778,581
|
5,817,144
|
|
Including: Data resources
|
|
|
|
Development expenses
|
|
|
|
Including: Data resources
|
|
|
|
Goodwill
|
4,097,942
|
4,097,942
|
|
Long-term deferred
expenses
|
281,587
|
286,247
|
|
Deferred tax assets
|
13,617,818
|
13,703,962
|
|
Other non-current assets
|
5,114
|
88,628
|
|
Total non-current assets
|
304,202,862
|
302,967,960
|
|
Total assets
|
344,550,972
|
335,302,681
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
Short-term loans
|
21,188,302
|
21,363,178
|
|
Short-term financing bonds
payable
|
3,021,236
|
|
|
Borrowings from central
bank
|
|
|
|
Contributions received
|
|
|
|
Financial liabilities
held-for-trading
|
|
|
|
Derivative financial
liabilities
|
|
|
|
Bills payable
|
|
500,160
|
|
Accounts payable
|
21,937,423
|
18,595,075
|
|
Air traffic liabilities
|
9,928,276
|
8,366,222
|
|
Receipts in advance
|
|
|
|
Contract liabilities
|
1,264,426
|
1,522,492
|
|
Sale of financial assets
repurchased
|
|
|
|
Deposits from clients and placements
from other banks
|
|
|
|
Brokerage payable
|
|
|
|
Underwriting fees payable
|
|
|
|
Employee compensations
payable
|
4,029,979
|
3,088,820
|
|
Taxes payable
|
506,535
|
571,838
|
|
Other payables
|
12,118,723
|
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
|
76,519,422
|
40,224,088
|
|
Other current liabilities
|
|
|
|
Total current liabilities
|
150,514,322
|
110,317,274
|
|
|
|
|
|
NON-CURRENT LIABILITIES:
|
|
|
|
Reserves on insurance
contracts
|
|
|
|
Long-term loans
|
65,118,204
|
80,777,799
|
|
Debentures payable
|
4,000,000
|
9,196,832
|
|
Including: Preference
shares
|
|
|
|
Perpetual bonds
|
|
|
|
Lease liabilities
|
62,244,761
|
64,053,967
|
|
Long-term payables
|
16,895,790
|
28,752,343
|
|
Long-term employee compensation
payables
|
187,040
|
187,810
|
|
Accrued liabilities
|
4,389,809
|
4,312,660
|
|
Deferred income
|
417,058
|
404,103
|
|
Deferred tax liabilities
|
399,743
|
347,910
|
|
Other non-current
liabilities
|
2,402,361
|
1,663,987
|
|
Total non-current
liabilities
|
156,054,766
|
189,697,411
|
|
Total liabilities
|
306,569,088
|
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
|
41,010,599
|
39,587,767
|
|
Less: Treasury shares
|
|
|
|
Other comprehensive
income
|
339,161
|
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
|
-29,121,309
|
-30,495,138
|
|
Total owners'equity (or
shareholders'equity) attributable to the parent company
|
40,543,145
|
37,229,962
|
|
Non-controlling interests
|
-2,561,261
|
-1,941,966
|
|
Total owners'equity (or
shareholders'equity)
|
37,981,884
|
35,287,996
|
|
Total liabilities and owners'equity
(or shareholders'equity)
|
344,550,972
|
335,302,681
|
Person in charge of the Company: Ma
Chongxian
Person in charge of accounting
function: Sun Yuquan
Person in charge of accounting
department: Lyu Lingfei
CONSOLIDATED INCOME STATEMENT
January
to September 2024
Prepared by Air China
Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
First
three quarters of 2024
(January to September)
|
First
three quarters of 2023
(January to September)
|
|
|
|
|
|
I.
Total revenue from operations
|
128,149,919
|
105,476,845
|
|
Including: Operating
income
|
128,149,919
|
105,476,845
|
|
Interest income
|
|
|
|
Premium earned
|
|
|
|
Fees and commission
income
|
|
|
|
|
|
|
|
II. Total
operating cost
|
133,667,384
|
111,920,572
|
|
Including: Operating
costs
|
119,746,091
|
97,359,086
|
|
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
|
258,020
|
259,123
|
|
Selling expenses
|
4,992,226
|
3,996,379
|
|
General and administrative
expenses
|
3,921,783
|
3,729,604
|
|
R&D expenses
|
293,450
|
213,842
|
|
Finance expenses
|
4,455,814
|
6,362,538
|
|
Including: Interest
expenses
|
4,845,732
|
5,323,094
|
|
Interest income
|
385,630
|
481,087
|
|
Add: Other income
|
3,284,731
|
3,208,572
|
|
Investment income (loss is
represented by "-" sign)
|
2,112,731
|
2,240,021
|
|
Including: Share of profits of
associates and joint ventures
|
2,074,647
|
2,189,703
|
|
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)
|
88
|
-711
|
|
Impairment loss of credit
(loss is represented by "-" sign)
|
-512
|
-16,331
|
|
Impairment loss of assets
(loss is represented by "-" sign)
|
-8,094
|
-107,432
|
|
Gains from disposal of assets
(loss is represented by "-" sign)
|
958,220
|
689,664
|
|
|
|
|
|
III. Profit from
operations (loss is represented by "-" sign)
|
829,699
|
-429,944
|
|
Add: Non-operating income
|
304,209
|
1,468,565
|
|
Less: Non-operating
expenses
|
54,755
|
97,505
|
|
|
|
|
|
IV. Total profit (total
loss is represented by "-" sign)
|
1,079,153
|
941,116
|
|
Less: Income tax expenses
|
309,882
|
-245,721
|
|
|
|
|
|
V. Net
profit (net loss is represented by "-" sign)
|
769,271
|
1,186,837
|
|
(I) Classified by
continuity of operations
|
|
|
|
1. Net profit from
continuing operations (net loss is represented by "-"
sign)
|
769,271
|
1,186,837
|
|
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)
|
1,361,747
|
791,421
|
|
2. Profit or loss
attributable to non-controlling interests (net loss is represented
by "-" sign)
|
-592,476
|
395,416
|
|
|
|
|
|
VI. Other comprehensive
income after tax, net
|
120,134
|
-91,351
|
|
(I) Other
comprehensive income after tax attributable to owners of the parent
company, net
|
135,798
|
-65,958
|
|
1. Other comprehensive
income that cannot be subsequently reclassified to profit or
loss
|
-8,880
|
-23,673
|
|
(1) Changes arising on
remeasurement of defined benefit plans
|
-4,306
|
33
|
|
(2) Other comprehensive income
accounted for using the equity method that cannot be reclassified
to profit or loss
|
-359
|
|
|
(3) Change in fair value of
investments in other equity instruments
|
-4,215
|
-23,706
|
|
(4) Change in fair value of
own credit risk of the Company
|
|
|
|
2. Other comprehensive
income that will be reclassified to profit or loss
|
144,678
|
-42,285
|
|
(1) Other comprehensive income
accounted for using the equity method that may be reclassified to
profit or loss
|
231,400
|
-473,547
|
|
(2) Change in fair value of
other debt investments
|
3,423
|
159
|
|
(3) Amount of financial assets
reclassified into other comprehensive income
|
|
|
|
(4) Provisions for credit
impairment of other debt investments
|
-11
|
-344
|
|
(5) Reserve for cash flow
hedging
|
|
|
|
(6) Exchange difference on
translation of financial statements in foreign currency
|
-90,134
|
431,447
|
|
(7) Others
|
|
|
|
(II) Other comprehensive
income after tax attributable to non-controlling interests,
net
|
-15,664
|
-25,393
|
|
|
|
|
|
VII. Total comprehensive
income
|
889,405
|
1,095,486
|
|
(I) Total
comprehensive income attributable to owners of the parent
company
|
1,497,545
|
725,463
|
|
(II) Total comprehensive
income attributable to non-controlling interests
|
-608,140
|
370,023
|
|
|
|
|
|
VIII. Earnings per share:
|
|
|
|
(I) Basic earnings
per share (RMB per share)
|
0.09
|
0.05
|
|
(II) Diluted earnings
per share (RMB per share)
|
0.09
|
0.05
|
For business combination under
common control during the current 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: Ma
Chongxian
Person in charge of accounting
function: Sun Yuquan
Person in charge of accounting
department: Lyu Lingfei
CONSOLIDATED CASH FLOW STATEMENT
January
to September 2024
Prepared by Air China
Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
First
three quarters of 2024 (January to September)
|
First
three quarters of 2023 (January to September)
|
|
|
|
|
|
I.
Cash flows from operating activities:
|
|
|
|
Cash received from sales of goods
and provision of services
|
137,171,566
|
117,873,834
|
|
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
|
590,866
|
1,260,276
|
|
Other cash received relating to
operating activities
|
6,013,482
|
3,970,888
|
|
Subtotal of cash inflows of
operating activities
|
143,775,914
|
123,104,998
|
|
Cash paid for goods purchased and
services received
|
80,389,661
|
60,606,339
|
|
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
|
24,505,116
|
22,312,292
|
|
Taxes and levies paid
|
1,656,932
|
1,425,490
|
|
Other cash paid relating to
operating activities
|
6,482,268
|
5,685,281
|
|
Subtotal of cash outflows from
operating activities
|
113,033,977
|
90,029,402
|
|
Net cash flows from operating
activities
|
30,741,937
|
33,075,596
|
|
|
|
|
|
II. Cash flows
from investing activities:
|
|
|
|
Cash received from sale and
redemption of investments
|
93,296
|
695,882
|
|
Recovery of the secured bank
deposits
|
1,138
|
2,379
|
|
Cash received from investment
income
|
926,741
|
161,483
|
|
Net cash proceeds from disposal of
fixed assets, intangible assets
and other long-term assets
|
1,063,890
|
802,934
|
|
Net cash proceeds from disposal of
subsidiaries and other
business units
|
|
|
|
Net cash received for acquisition of
subsidiaries and other
business units
|
|
5,392,113
|
|
Other cash received relating to
investing activities
|
385,630
|
472,732
|
|
Subtotal of cash inflows from
investing activities
|
2,470,695
|
7,527,523
|
|
Cash paid for purchase and
construction of fixed assets,
intangible assets and other long-term assets
|
11,520,075
|
13,758,422
|
|
Cash paid for investments
|
515,836
|
171,838
|
|
Net increase in secured
loans
|
|
|
|
Net cash payments for acquisition of
subsidiaries and
other business units
|
|
|
|
Increase in secured bank
deposits
|
2,055
|
6,407
|
|
Other cash paid relating to
investing activities
|
672,298
|
|
|
Subtotal of cash outflows from
investing activities
|
12,710,264
|
13,936,667
|
|
Net cash flows from investing
activities
|
-10,239,569
|
-6,409,144
|
|
|
|
|
|
III. Cash flows from
financing activities:
|
|
|
|
Cash received from issuance of
debentures
|
7,000,000
|
|
|
Cash received from capital
injection
|
1,815,742
|
18,393,017
|
|
Including: Cash received from
capital injection of non-controlling shareholders in
subsidiaries
|
|
|
|
Cash received from
borrowings
|
25,623,809
|
40,176,857
|
|
Other cash received relating to
financing activities
|
|
|
|
Subtotal of cash inflows from
financing activities
|
34,439,551
|
58,569,874
|
|
Cash paid for repayment of
borrowings
|
29,070,173
|
39,733,328
|
|
Cash paid for repayment of
debentures
|
2,000,000
|
9,500,000
|
|
Cash paid for distribution of
dividends, profits or payment of
interest expenses
|
5,001,126
|
5,653,200
|
|
Including: Dividends and profits
paid to non-controlling shareholders by subsidiaries
|
747
|
9,890
|
|
Cash paid for leases
|
13,651,427
|
19,592,765
|
|
Other cash paid relating to
financing activities
|
|
13
|
|
Subtotal of cash outflows from
financing activities
|
49,722,726
|
74,479,306
|
|
Net cash flows from financing
activities
|
-15,283,175
|
-15,909,432
|
|
IV. Effect of exchange
rate changes on cash and cash equivalents
|
24,863
|
145,037
|
|
|
|
|
|
V. Net
increase in cash and cash equivalents
|
5,244,056
|
10,902,057
|
|
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
|
20,260,860
|
21,509,768
|
Person in charge of the Company: Ma
Chongxian
Person in charge of accounting
function: Sun Yuquan
Person in charge of accounting
department: Lyu Lingfei
BALANCE
SHEET OF THE PARENT COMPANY
30
September 2024
Prepared by Air China
Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
30
September 2024
|
31
December 2023
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
Cash and bank balance
|
3,383,310
|
6,873,010
|
|
Financial assets
held-for-trading
|
2,593
|
2,505
|
|
Derivative financial
assets
|
|
|
|
Bills receivable
|
|
|
|
Accounts receivable
|
2,710,654
|
2,190,617
|
|
Receivables financing
|
|
|
|
Prepayments
|
56,450
|
94,848
|
|
Other receivables
|
3,052,173
|
3,162,023
|
|
Including: Interest
receivable
|
|
|
|
Dividend receivable
|
|
|
|
Inventories
|
66,171
|
75,541
|
|
Including: Data resources
|
|
|
|
Contract assets
|
|
|
|
Held-for-sale assets
|
42,046
|
108,527
|
|
Non-current assets due within a
year
|
|
|
|
Other current assets
|
1,877,472
|
2,270,693
|
|
Total current assets
|
11,191,369
|
14,777,764
|
|
|
|
|
|
NON-CURRENT ASSETS:
|
|
|
|
Debt investments
|
|
|
|
Other debt investments
|
|
|
|
Long-term receivables
|
808,875
|
910,915
|
|
Long-term equity
investments
|
31,180,497
|
30,869,054
|
|
Investments in other equity
instruments
|
216,387
|
196,110
|
|
Other non-current financial
assets
|
|
|
|
Investment properties
|
|
|
|
Fixed assets
|
76,352,982
|
74,572,866
|
|
Construction in progress
|
24,875,183
|
22,839,284
|
|
Biological assets for
production
|
|
|
|
Oil and gas assets
|
|
|
|
Right-of-use assets
|
71,931,736
|
76,551,102
|
|
Intangible assets
|
3,390,612
|
3,658,777
|
|
Including: Data resources
|
|
|
|
Development expenses
|
|
|
|
Including: Data resources
|
|
|
|
Goodwill
|
|
|
|
Long-term deferred
expenses
|
183,436
|
172,764
|
|
Deferred tax assets
|
7,897,173
|
7,938,618
|
|
Other non-current assets
|
|
|
|
Total non-current assets
|
216,836,881
|
217,709,490
|
|
Total assets
|
228,028,250
|
232,487,254
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
Short-term loans
|
18,432,034
|
17,812,963
|
|
Short-term financing bonds
payable
|
3,021,236
|
|
|
Financial liabilities
held-for-trading
|
|
|
|
Derivative financial
liabilities
|
|
|
|
Bills payable
|
|
|
|
Accounts payable
|
12,706,929
|
11,926,167
|
|
Air traffic liabilities
|
7,801,920
|
6,530,022
|
|
Receipts in advance
|
|
|
|
Contract liabilities
|
649,791
|
903,374
|
|
Employee compensations
payable
|
1,209,366
|
1,011,443
|
|
Taxes payable
|
150,111
|
146,446
|
|
Other payables
|
5,480,246
|
8,201,327
|
|
Including: Interest
payable
|
|
|
|
Dividend payable
|
|
|
|
Held-for-sale liabilities
|
|
|
|
Non-current liabilities due within a
year
|
48,954,359
|
21,301,894
|
|
Other current liabilities
|
|
|
|
Total current liabilities
|
98,405,992
|
67,833,636
|
|
|
|
|
|
NON-CURRENT LIABILITIES:
|
|
|
|
Long-term loans
|
32,359,953
|
55,322,211
|
|
Debentures payable
|
4,000,000
|
3,000,000
|
|
Including: Preference
shares
|
|
|
|
Perpetual bonds
|
|
|
|
Lease liabilities
|
36,924,012
|
40,444,416
|
|
Long-term payables
|
5,403,048
|
18,035,183
|
|
Long-term employee compensation
payables
|
|
|
|
Accrued liabilities
|
2,388,531
|
2,374,046
|
|
Deferred income
|
161,836
|
190,785
|
|
Deferred tax liabilities
|
|
|
|
Other non-current
liabilities
|
2,370,769
|
1,565,882
|
|
Total non-current
liabilities
|
83,608,149
|
120,932,523
|
|
Total liabilities
|
182,014,141
|
188,766,159
|
|
|
|
|
|
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
|
45,358,534
|
43,935,719
|
|
Less: Treasury shares
|
|
|
|
Other comprehensive
income
|
428,177
|
412,970
|
|
Special reserves
|
|
|
|
Surplus reserves
|
11,527,181
|
11,527,181
|
|
General risk provisions
|
|
|
|
Retained earnings
|
-27,893,503
|
-28,355,568
|
|
Total owners'equity (or
shareholders'equity)
|
46,014,109
|
43,721,095
|
|
Total liabilities and owners'equity
(or shareholders'equity)
|
228,028,250
|
232,487,254
|
Person in charge of the Company: Ma
Chongxian
Person in charge of accounting
function: Sun Yuquan
Person in charge of accounting
department: Lyu Lingfei
INCOME
STATEMENT OF THE PARENT COMPANY
January
to September 2024
Prepared by Air China
Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
First
three quarters of 2024 (January to September)
|
First
three quarters of 2023 (January to September)
|
|
|
|
|
|
I.
Revenue from operations
|
79,048,427
|
63,853,621
|
|
Less: Operating costs
|
73,352,774
|
60,252,064
|
|
Taxes and other levies
|
127,057
|
132,351
|
|
Selling expenses
|
3,118,048
|
2,332,122
|
|
General and administrative
expenses
|
1,545,088
|
1,503,778
|
|
R&D expenses
|
84,680
|
69,112
|
|
Finance expenses
|
2,815,913
|
4,001,530
|
|
Including: Interest
expenses
|
2,982,859
|
3,440,940
|
|
Interest income
|
151,321
|
269,621
|
|
Add: Other income
|
1,648,450
|
1,485,569
|
|
Investment income (loss is
represented by "-" sign)
|
308,545
|
236,277
|
|
Including: Share of profits of
associates and joint ventures
|
251,019
|
220,097
|
|
Gains on derecognition of financial
assets measured at amortised cost
|
|
|
|
Gains from net exposure to hedging
(loss is represented
by "-" sign)
|
|
|
|
Gains from changes in fair value
(loss is represented
by "-" sign)
|
88
|
-711
|
|
Impairment loss of credit (loss is
represented by "-" sign)
|
-121
|
-5,757
|
|
Impairment loss of assets (loss is
represented by "-" sign)
|
|
-91,160
|
|
Gains from disposal of assets (loss
is represented by "-" sign)
|
402,879
|
160,230
|
|
|
|
|
|
II. Profit from
operations (loss is represented by "-" sign)
|
364,708
|
-2,652,888
|
|
Add: Non-operating income
|
155,246
|
640,050
|
|
Less: Non-operating
expenses
|
21,513
|
55,116
|
|
|
|
|
|
III. Total profit (total
loss is represented by "-" sign)
|
498,441
|
-2,067,954
|
|
Less: Income tax expenses
|
36,376
|
-223,375
|
|
|
|
|
|
IV. Net profit (net loss
is represented by "-" sign)
|
462,065
|
-1,844,579
|
|
(I) Net profit
from continuing operations
(net loss is represented by "-" sign)
|
462,065
|
-1,844,579
|
|
(II) Net profit from
discontinued operation
(net loss is represented by "-" sign)
|
|
|
|
|
|
|
|
V. Other
comprehensive income after tax, net
|
15,207
|
|
|
(I) Other
comprehensive income that cannot be subsequently reclassified to
profit or loss
|
15,207
|
|
|
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
|
15,207
|
|
|
4. Change in fair value of own
credit risk of the Company
|
|
|
|
(II) Other comprehensive
income that will be reclassified to profit or loss
|
|
|
|
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
|
|
|
|
3. Amount of financial assets
reclassified into other comprehensive income
|
|
|
|
4. Provisions for credit
impairment of other debt investments
|
|
|
|
5. Reserve for cash flow
hedging
|
|
|
|
6. Exchange difference on
translation of financial statements in foreign currency
|
|
|
|
7. Others
|
|
|
|
|
|
|
|
VI. Total comprehensive
income
|
477,272
|
-1,844,579
|
|
|
|
|
|
VII. Earnings per
share:
|
|
|
|
(I) Basic earnings
per share (RMB per share)
|
|
|
|
(II) Diluted earnings
per share (RMB per share)
|
|
|
Person in charge of the Company: Ma
Chongxian
Person in charge of accounting
function: Sun Yuquan
Person in charge of accounting
department: Lyu Lingfei
CASH FLOW
STATEMENT OF THE PARENT COMPANY
January
to September 2024
Prepared by Air China
Limited
Unit:
RMB'000 (Unaudited)
|
Items
|
First
three quarters of 2024 (January to September)
|
First
three quarters of 2023 (January to September)
|
|
|
|
|
|
I.
Cash flows from operating activities:
|
|
|
|
Cash received from sales of goods
and provision of services
|
82,727,408
|
69,779,971
|
|
Refund of taxes and
levies
|
439,088
|
1,146,575
|
|
Other cash received relating to
operating activities
|
4,013,771
|
3,012,349
|
|
Subtotal of cash inflows of
operating activities
|
87,180,267
|
73,938,895
|
|
Cash paid for goods purchased and
services received
|
50,162,165
|
36,506,078
|
|
Cash paid to or on behalf of
employees
|
12,523,984
|
11,725,789
|
|
Taxes and levies paid
|
768,458
|
721,226
|
|
Other cash paid relating to
operating activities
|
3,954,957
|
3,266,726
|
|
Subtotal of cash outflows from
operating activities
|
67,409,564
|
52,219,819
|
|
Net cash flows from operating
activities
|
19,770,703
|
21,719,076
|
|
|
|
|
|
II. Cash flows
from investing activities:
|
|
|
|
Cash received from sale and
redemption of investments
|
|
|
|
Cash received from investment
income
|
92,061
|
90,991
|
|
Net cash proceeds from disposal of
fixed assets, intangible assets and other long-term
assets
|
481,983
|
532,110
|
|
Net cash proceeds from disposal of
subsidiaries and other business units
|
|
|
|
Other cash received relating to
investing activities
|
151,321
|
269,621
|
|
Subtotal of cash inflows from
investing activities
|
725,365
|
892,722
|
|
Cash paid for purchase and
construction of fixed assets, intangible assets and other long-term
assets
|
9,799,748
|
11,746,131
|
|
Cash paid for investments
|
148,991
|
61,851
|
|
Net cash payments for acquisition of
subsidiaries and other business units
|
|
6,632,963
|
|
Other cash paid relating to
investing activities
|
|
|
|
Subtotal of cash outflows from
investing activities
|
9,948,739
|
18,440,945
|
|
Net cash flows from investing
activities
|
-9,223,374
|
-17,548,223
|
|
|
|
|
|
III. Cash flows from
financing activities:
|
|
|
|
Cash received from capital
injection
|
1,815,742
|
14,993,017
|
|
Cash received from issuance of
debentures
|
7,000,000
|
-
|
|
Cash received from
borrowings
|
7,381,775
|
32,343,300
|
|
Other cash received relating to
financing activities
|
|
|
|
Subtotal of cash inflows from
financing activities
|
16,197,517
|
47,336,317
|
|
Cash paid for repayment of
borrowings
|
19,475,600
|
22,014,715
|
|
Cash paid for repayment of
debentures
|
|
8,500,000
|
|
Cash paid for distribution of
dividends, profits or payment of interest expenses
|
2,931,524
|
3,650,547
|
|
Cash paid for leases
|
7,801,646
|
14,117,747
|
|
Other cash paid relating to
financing activities
|
|
|
|
Subtotal of cash outflows from
financing activities
|
30,208,770
|
48,283,009
|
|
Net cash flows from financing
activities
|
-14,011,253
|
-946,692
|
|
|
|
|
|
IV. Effect of exchange
rate changes on cash and cash equivalents
|
-25,359
|
64,710
|
|
|
|
|
|
V. Net
increase in cash and cash equivalents
|
-3,489,283
|
3,288,871
|
|
Add: Balance of cash and cash
equivalents as at the beginning of the period
|
6,842,157
|
6,057,863
|
|
|
|
|
|
VI. Balance of cash and
cash equivalents as at the end of the period
|
3,352,874
|
9,346,734
|
Person in charge of the Company: Ma
Chongxian
Person in charge of accounting
function: Sun Yuquan
Person in charge of accounting
department: Lyu Lingfei
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
Applicable ✓ 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, 30 October
2024
As at the date of this announcement,
the directors of the Company are Mr. Ma Chongxian, Mr. Wang
Mingyuan, Mr. Cui Xiaofeng, Mr. Patrick Healy, Mr. Xiao Peng, Mr.
He Yun*, Mr. Xu Junxin* and Ms. Winnie Tam Wan-chi*.
* Independent non-executive director of the
Company
