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 2023
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" or "Air China", the Company together with its subsidiaries, the "Group") held a meeting of the Board on 26 October 2023 and passed the resolution approving the third quarterly report of 2023 (the "Quarterly Report") of the Company for the period ended 30 September 2023 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 | 45,863,652 | 152.89 | 105,476,845 | 150.61 |
| Net profit attributable to shareholders of the listed company | 4,242,149 | N/A | 791,421 | N/A |
| Net profit attributable to shareholders of the listed company after deducting non-recurring profits and losses | 4,065,035 | N/A | -873,124 | N/A |
| Net cash flows from operating activities | N/A | N/A | 33,075,596 | N/A |
| Basic earnings per share (RMB per share) | 0.28 | N/A | 0.05 | N/A |
| Diluted earnings per share (RMB per share) | N/A | N/A | N/A | N/A |
| Weighted average return on net assets (%) | 11.46 | Increased by 33.67 percentage points | 2.05 | Increased by 60.26 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 | 338,864,552 | 295,011,335 | 14.86 |
| Owners' equity attributable to shareholders of the listed company |
39,061,556 |
23,609,134 |
65.45 |
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
Unit: RMB'000
|
Items |
Amounts for the Reporting 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 | -143 | 673,841 |
| Government subsidies recorded in the income statement for the current period (excluding those closely related to the Company's normal business and continuously entitled to in fixed amounts or quotas in accordance with the requirements of the state policy) |
166.389 |
334.398 |
| Gain or loss from change in fair value by holding financial assets held-for-trading, derivative financial assets, financial liabilities held-for-trading and derivative financial liabilities, and investment income from disposal of financial assets held-for-trading, derivative financial assets, financial liabilities held-for-trading and derivative financial liabilities as well as other debt investments, excluding the effective hedging businesses related to the normal operations of the Company |
-61 |
814 |
| Reversal of provision for impairment of receivable and contract assets that have undergone impairment test alone |
215 |
3,559 |
| Other non-operating income and expenses besides the above items | 56,633 | 1,386,883 |
| Less: Effect of income tax | 2,587 | 80,371 |
| Effect of non-controlling interests (after tax) | 43,322 | 654,579 |
| | | |
| Total | 177,114 | 1,664,545 |
| | | |
Explanation 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
Applicable Not applicable
(3) Changes of major accounting data and financial indicators and reasons for changes
Applicable Not applicable
|
Items | Percentage of Change (%) |
Major Reasons |
| | | |
| Revenue | 150.61 | With the increase in deployment of transportation capacity by the Company, and driven by the increase in both passenger load factor and price, the revenue increased significantly |
| Net profit attributable to shareholders of the listed company | N/A | With the increase in deployment of transportation capacity by the Company, and driven by the increase in both passenger load factor and price, the loss decreased significantly with a growth in profit |
| Net profit attributable to shareholders of the listed company after deducting non-recurring profits and losses | N/A | With the increase in deployment of transportation capacity by the Company, and driven by the increase in both passenger load factor and price, the loss decreased significantly with a growth in profit |
| Net cash flow from operating activities | N/A | With the increase in deployment of transportation capacity by the Company, and driven by the increase in both passenger load factor and price, the revenue increased significantly |
| Basic earnings per share (RMB per share) | N/A | With the increase in deployment of transportation capacity by the Company, and driven by the increase in both passenger load factor and price, the loss decreased significantly with a growth in profit |
| Weighted average return on net assets (%) | Increased by 60.26 percentage points | With the increase in deployment of transportation capacity by the Company, and driven by the increase in both passenger load factor and price, the loss decreased significantly with a growth in profit |
| Owners' equity attributable to shareholders of the listed company | 65.45 | Profit achieved during the current period, and the non-public issuance of shares of Air China |
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 |
162,801 | 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 | ||||||
|
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 | 40.53 | 614,525,150 | Frozen | 127,445,536 |
| Cathay Pacific Airways Limited | Foreign legal person | 2,633,725,455 | 16.26 | 0 | Nil | 0 |
| HKSCC NOMINEES LIMITED | Foreign legal person | 1,688,957,345 | 10.43 | 0 | Nil | 0 |
| China National Aviation Corporation (Group) Limited | Foreign legal person | 1,556,334,920 | 9.61 | 0 | Frozen | 36,454,464 |
| China Securities Finance Corporation Limited | Others | 311,302,365 | 1.92 | 0 | Nil | 0 |
| China National Aviation Fuel Group Corporation | State-owned legal person | 238,524,158 | 1.47 | 0 | Nil | 0 |
| Hong Kong Securities Clearing Company Ltd. | Foreign legal person | 156,551,132 | 0.97 | 0 | Nil | 0 |
| China Structural Reform Fund Co., Ltd. | State-owned legal person | 67,039,106 | 0.41 | 0 | Nil | 0 |
| Basic Pension Fund 15022 Portfolio | Others | 58,092,370 | 0.36 | 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) | Others | 49,638,500 | 0.31 | 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 |
Class and number of shares | |
| Class of shares | 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 | 1,688,957,345 | Overseas listed foreign shares | 1,688,957,345 |
| 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. | 156,551,132 | RMB ordinary shares | 156,551,132 |
| China Structural Reform Fund Co., Ltd. | 67,039,106 | RMB ordinary shares | 67,039,106 |
| Basic Pension Fund 15022 Portfolio | 58,092,370 | RMB ordinary shares | 58,092,370 |
| 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) | 49,638,500 | RMB ordinary shares | 49,638,500 |
| Explanation on connected relationship or action in concert among the above shareholders | China National Aviation Corporation (Group) Limited ("CNACG") is a wholly-owned subsidiary of China National Aviation Holding Corporation Limited ("CNAHC"). Accordingly, China National Aviation Holding Corporation Limited is directly and indirectly interested in 50.14% 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) | Nil | ||
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 1,688,957,345 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.
III. OTHER ALERTS
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 30 August 2023, the resolutions regarding the amendments to the Articles of Association, the Rules and Procedures of Shareholders' Meetings and the Rules and Procedures of Meetings of the Board have been approved by the twenty-third meeting of the sixth session of the Board of the Company. For details, please refer to the relevant announcements published by the Company on the website of the Shanghai Stock Exchange (http://www.sse.com.cn/), China Securities Journal, Shanghai Securities News and Securities Daily on 31 August 2023. On 26 October 2023, the above resolutions have been approved by the 2023 third extraordinary general meeting, the 2023 first A shareholders' class meeting and the 2023 first H shareholders' class meeting of the Company. For details, please refer to the relevant announcements published by the Company on the website of the Shanghai Stock Exchange (http://www.sse.com.cn/), China Securities Journal, Shanghai Securities News and Securities Daily on 27 October 2023.
IV. QUARTERLY FINANCIAL STATEMENTS
(1) Type of audit opinion
Applicable Not applicable
(2) Financial statements
CONSOLIDATED BALANCE SHEET
30 September 2023
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items | 30 September 2023 | 31 December 2022 |
| | | |
| CURRENT ASSETS: | | |
| Cash and bank balance | 22,219,322 | 11,435,877 |
| Provisions on payables | | |
| Contributions made | | |
| Financial assets held-for-trading | 2,687 | 3,398 |
| Derivative financial assets | | |
| Bills receivable | 31,497 | 7,483 |
| Accounts receivable | 3,343,487 | 1,649,356 |
| Receivables financing | | |
| Prepayments | 607,357 | 368,692 |
| Premium receivable | | |
| Receivables on reinsurance | | |
| Provisions for reinsurance contracts | | |
| Other receivables | 5,387,334 | 2,807,726 |
| Including: Interest receivable | | |
| Dividend receivable | | |
| Purchase of financial assets resold | | |
| Inventories | 3,916,847 | 2,557,823 |
| Contract assets | | |
| Held-for-sale assets | 66,481 | 1,302 |
| Non-current assets due within a year | | |
| Other current assets | 2,938,315 | 3,413,474 |
| Total current assets | 38,513,327 | 22,245,131 |
|
Items | 30 September 2023 | 31 December 2022 |
| | | |
| NON-CURRENT ASSETS: | | |
| Loans and advances | | |
| Debt investments | | |
| Other debt investments | 1,386,956 | 1,360,982 |
| Long-term receivables | 899,034 | 539,624 |
| Long-term equity investments | 14,671,191 | 12,574,373 |
| Investments in other equity instruments | 738,620 | 243,760 |
| Other non-current financial assets | | |
| Investment properties | 324,845 | 106,118 |
| Fixed assets | 97,833,833 | 86,369,754 |
| Construction in progress | 37,912,741 | 32,908,551 |
| Biological assets for production | | |
| Oil and gas assets | | |
| Right-of-use assets | 122,830,591 | 122,591,793 |
| Intangible assets | 5,497,440 | 4,300,216 |
| Development expenses | | |
| Goodwill | 4,097,942 | 1,102,185 |
| Long-term deferred expenses | 272,315 | 249,268 |
| Deferred tax assets | 13,878,557 | 10,417,452 |
| Other non-current assets | 7,160 | 2,128 |
| Total non-current assets | 300,351,225 | 272,766,204 |
| Total assets | 338,864,552 | 295,011,335 |
|
Items | 30 September 2023 | 31 December 2022 |
| | | |
| CURRENT LIABILITIES: | | |
| Short-term loans | 23,341,530 | 19,946,147 |
| Short-term financing bonds payable | | 2,006,149 |
| Borrowings from central bank | | |
| Contributions received | | |
| Financial liabilities held-for-trading | | |
| Derivative financial liabilities | | |
| Bills payable | 240,649 | |
| Accounts payable | 22,734,330 | 11,628,611 |
| Air traffic liabilities | 7,634,011 | 2,757,601 |
| Receipts in advance | 150,970 | 58,970 |
| Contract liabilities | 1,412,321 | 1,095,185 |
| Sale of financial assets repurchased | | |
| Deposits from clients and placements from other banks | | |
| Brokerage payable | | |
| Underwriting fees payable | | |
| Employee compensations payable | 4,315,267 | 4,317,738 |
| Taxes payable | 442,637 | 275,930 |
| Other payables | 15,253,529 | 13,131,744 |
| Including: Interest payable | | |
| Dividend payable | | |
| Fees and commissions payable | | |
| Amounts payable on reinsurance | | |
| Held-for-sale liabilities | | |
| Non-current liabilities due within a year | 37,374,032 | 37,264,533 |
| Other current liabilities | | |
| Total current liabilities | 112,899,276 | 92,482,608 |
|
Items | 30 September 2023 | 31 December 2022 |
| | | |
| NON-CURRENT LIABILITIES: | | |
| Reserves on insurance contracts | | |
| Long-term loans | 72,980,897 | 66,868,774 |
| Debentures payable | 11,196,030 | 11,193,342 |
| Including: Preference shares | | |
| Perpetual bonds | | |
| Lease liabilities | 68,640,093 | 76,897,347 |
| Long-term payables | 28,077,364 | 20,551,757 |
| Long-term employee compensation payables | 196,402 | 202,016 |
| Accrued liabilities | 4,253,291 | 3,090,965 |
| Deferred income | 430,713 | 418,200 |
| Deferred tax liabilities | 371,164 | 323,297 |
| Other non-current liabilities | 1,793,752 | 1,422,843 |
| Total non-current liabilities | 187,939,706 | 180,968,541 |
| Total liabilities | 300,838,982 | 273,451,149 |
| | | |
| OWNERS' EQUITY (OR SHAREHOLDERS' EQUITY): | | |
| Paid-up capital (or share capital) | 16,200,793 | 14,524,815 |
| Other equity instruments | | |
| Including: Preference shares | | |
| Perpetual bonds | | |
| Capital reserve | 39,587,727 | 26,270,841 |
| Less: Treasury shares | | |
| Other comprehensive income | 208,955 | 421,075 |
| Special reserves | 3,047 | |
| Surplus reserves | 11,564,287 | 11,564,287 |
| General risk provisions | 137,138 | 137,138 |
| Retained earnings | -28,640,391 | -29,309,022 |
| Total owners' equity (or shareholders' equity) attributable to the parent company |
39,061,556 |
23,609,134 |
| Non-controlling interests | -1,035,986 | -2,048,948 |
| Total owners' equity (or shareholders' equity) | 38,025,570 | 21,560,186 |
| Total liabilities and owners' equity (or shareholders' equity) |
338,864,552 |
295,011,335 |
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 September 2023
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items | First three quarters of 2023 (January to September) | First three quarters of 2022 (January to September) |
| | | |
| I. Total revenue from operations | 105,476,845 | 42,088,565 |
| Including: Operating income | 105,476,845 | 42,088,565 |
| Interest income | | |
| Premium earned | | |
| Fees and commission income | | |
| | | |
| II. Total operating cost | 111,920,572 | 76,941,159 |
| Including: Operating costs | 97,359,086 | 61,410,372 |
| 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 | 259,123 | 96,654 |
| Selling expenses | 3,996,379 | 2,712,924 |
| General and administrative expenses | 3,729,604 | 3,231,633 |
| R&D expenses | 213,842 | 126,195 |
| Finance expenses | 6,362,538 | 9,363,381 |
| Including: Interest expenses | 5,323,094 | 4,783,027 |
| Interest income | 481,087 | 159,173 |
| Add: Other income | 3,208,572 | 2,153,587 |
| Investment income (loss is represented by "-" sign) | 2,240,021 | -642,522 |
| Including: Share of profits of associates and joint ventures |
2,189,703 |
-683,153 |
| 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) |
-711 |
-624 |
|
Items | First three quarters of 2023 (January to September) | First three quarters of 2022 (January to September) |
| | | |
| Impairment loss of credit (loss is represented by "-" sign) |
-16,331 |
-218 |
| Impairment loss of assets (loss is represented by "-" sign) |
-107,432 | |
| Gains from disposal of assets (loss is represented by "-" sign) |
689,664 |
-3,176 |
| III. Profit from operations (loss is represented by "-" sign) | -429,944 | -33,345,547 |
| Add: Non-operating income | 1,468,565 | 76,286 |
| Less: Non-operating expenses | 97,505 | 93,094 |
| | | |
| IV. Total profit (total loss is represented by "-" sign) | 941,116 | -33,362,355 |
| Less: Income tax expenses | -245,721 | -950,069 |
| | | |
| V. Net profit (net loss is represented by "-" sign) | 1,186,837 | -32,412,286 |
| (I) Classified by continuity of operations | | |
| 1. Net profit from continuing operations (net loss is represented by "-" sign) |
1,186,837 |
-32,412,286 |
| 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) |
791,421 |
-28,103,264 |
| 2. Profit or loss attributable to non-controlling interests (net loss is represented by "-" sign) |
395,416 |
-4,309,022 |
| | | |
| VI. Other comprehensive income after tax, net | -91,351 | 1,883,524 |
| (I) Other comprehensive income after tax attributable to owners of the parent company, net |
-65,958 |
1,850,445 |
| 1. Other comprehensive income that cannot be subsequently reclassified to profit or loss |
-23,673 |
2,659 |
| (1) Changes arising on remeasurement of defined benefit plans |
33 |
-260 |
| (2) Other comprehensive income accounted for using the equity method that cannot be reclassified to profit or loss | |
-10 |
| (3) Change in fair value of investments in other equity instruments |
-23,706 |
2,929 |
| (4) Change in fair value of own credit risk of the Company | | |
|
Items | First three quarters of 2023 (January to September) | First three quarters of 2022 (January to September) |
| | | |
| 2. Other comprehensive income that will be reclassified to profit or loss |
-42,285 |
1,847,786 |
| (1) Other comprehensive income accounted for using the equity method that may be reclassified to profit or loss |
-473,547 |
269,267 |
| (2) Change in fair value of other debt investments | 159 | -132 |
| (3) Amount of financial assets reclassified into other comprehensive income | | |
| (4) Provisions for credit impairment of other debt investments |
-344 |
-1,210 |
| (5) Reserve for cash flow hedging | | |
| (6) Exchange difference on translation of financial statements in foreign currency |
431,447 |
1,579,861 |
| (7) Others | | |
| (II) Other comprehensive income after tax attributable to non- controlling interests, net |
-25,393 |
33,079 |
| | | |
| VII. Total comprehensive income | 1,095,486 | -30,528,762 |
| (I) Total comprehensive income attributable to owners of the parent company |
725,463 |
-26,252,819 |
| (II) Total comprehensive income attributable to non-controlling interests |
370,023 |
-4,275,943 |
| | | |
| VIII. Earnings per share: | | |
| (I) Basic earnings per share (RMB per share) | 0.05 | -2.05 |
| (II) Diluted earnings per share (RMB per share) | N/A | N/A |
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: 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 September 2023
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items | First three quarters of 2023 (January to September) | First three quarters of 2022 (January to September) |
| | | |
| I. Cash flows from operating activities: | | |
| Cash received from sales of goods and provision of services | 117,873,834 | 44,775,183 |
| 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 | 1,260,276 | 3,667,415 |
| Other cash received relating to operating activities | 3,970,888 | 3,866,614 |
| Subtotal of cash inflows of operating activities | 123,104,998 | 52,309,212 |
| Cash paid for goods purchased and services received | 60,606,339 | 33,419,398 |
| 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 | 22,312,292 | 18,342,731 |
| Taxes and levies paid | 1,425,490 | 895,130 |
| Other cash paid relating to operating activities | 5,685,281 | 4,547,513 |
| Subtotal of cash outflows from operating activities | 90,029,402 | 57,204,772 |
| Net cash flows from operating activities | 33,075,596 | -4,895,560 |
|
Items | First three quarters of 2023 (January to September) | First three quarters of 2022 (January to September) |
| | | |
| II. Cash flows from investing activities: | | |
| Cash received from sale and redemption of investments | 695,882 | 3,690 |
| Recovery of the secured bank deposits | 2,379 | 15,081 |
| Cash received from investment income | 161,483 | 247,381 |
| Net cash received for acquisition of subsidiaries and other business units |
5,392,113 | |
| Net cash proceeds from disposal of fixed assets, intangible assets and other long-term assets |
802,934 |
569,232 |
| Net cash proceeds from disposal of subsidiaries and other business units | | |
| Other cash received relating to investing activities | 472,732 | 159,173 |
| Subtotal of cash inflows from investing activities | 7,527,523 | 994,557 |
| Cash paid for purchase and construction of fixed assets, intangible assets and other long-term assets |
13,758,422 |
5,685,046 |
| Cash paid for investments | 171,838 | 961,140 |
| Net increase in secured loans | | |
| Net cash payments for acquisition of subsidiaries and other business units | | |
| Increase in secured bank deposits | 6,407 | 1,557 |
| Other cash paid relating to investing activities | | |
| Subtotal of cash outflows from investing activities | 13,936,667 | 6,647,743 |
| Net cash flows from investing activities | -6,409,144 | -5,653,186 |
| | | |
| III. Cash flows from financing activities: | | |
| Cash received from capital injection | 18,393,017 | |
| Including: Cash received from capital injection of non-controlling shareholders in subsidiaries | | |
| Cash received from issuance of debentures | | 13,950,000 |
| Cash received from borrowings | 40,176,857 | 79,739,578 |
| Other cash received relating to financing activities | | |
| Subtotal of cash inflows from financing activities | 58,569,874 | 93,689,578 |
| Cash paid for repayment of borrowings | 39,733,328 | 51,580,318 |
| Cash paid for repayment of debentures | 9,500,000 | 17,000,000 |
| Cash paid for distribution of dividends, profits or payment of interest expenses |
5,653,200 |
5,001,317 |
| Including: Dividends and profits paid to non-controlling shareholders by subsidiaries |
9,890 |
644 |
| Cash paid for leases | 19,592,765 | 11,758,167 |
| Other cash paid relating to financing activities | 13 | |
| Subtotal of cash outflows from financing activities | 74,479,306 | 85,339,802 |
| Net cash flows from financing activities | -15,909,432 | 8,349,776 |
|
Items | First three quarters of 2023 (January to September) | First three quarters of 2022 (January to September) |
| | | |
| IV. Effect of exchange rate changes on cash and cash equivalents | 145,037 | 39,950 |
| | | |
| V. Net increase in cash and cash equivalents | 10,902,057 | -2,159,020 |
| Add: Balance of cash and cash equivalents as at the beginning of the period |
10,607,711 |
15,934,713 |
| | | |
| VI. Balance of cash and cash equivalents as at the end of the period |
21,509,768 |
13,775,693 |
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
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 2023
Applicable Not applicable
The announcement is hereby given.
By Order of the Board
Air China Limited
Huang Bin Huen Ho Yin
Joint Company Secretaries
Beijing, the PRC, 26 October 2023
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
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