FIRST QUARTERLY REPORT OF 2021
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
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 2021
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 29 April 2021 and passed the resolution approving the first quarterly report of 2021 of the Company for the period ended 31 March 2021 (the "Reporting Period" or "Period") prepared in accordance with the PRC Accounting Standards for Business Enterprises.
I. IMPORTANT NOTICE
1.1 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.
1.2 All directors of the Company attended the Board meeting to review the quarterly report.
1.3 Mr. Song Zhiyong (person in charge and the Chairman of the Board of the Company), Mr. Xiao Feng (person in charge of accounting function and the Chief Accountant), and Mr. Zhan Zhong (person in charge of accounting department (accounting superintendent) and the general manager of finance department) hereby guarantee that the financial statements set out in this quarterly report are true, accurate and complete.
1.4 The first quarterly report of the Company is unaudited.
II. BASIC INFORMATION OF THE COMPANY
2.1 Major financial data
Unit: RMB'000
|
|
At the end of the ReportingPeriod |
At the end of the previousyear |
Increase/decrease at the end of the ReportingPeriodascomparedtotheendofthepreviousyear |
|
|
|
|
(%) |
|
|
|
|
|
|
Totalassets |
288,384,073 |
284,070,710 |
1.52 |
|
Netassetsattributabletoshareholders ofthelistedcompany |
71,464,006 |
77,582,421 |
-7.89 |
|
|
Fortheperiodfrom the beginning of theyear to the end of theReportingPeriod |
For thecorresponding period oftheprevious year |
Increase/decrease ascomparedtothe correspondingperiod oftheprevious year |
|
|
|
|
(%) |
|
|
|
|
|
|
Netcashflowsfromoperatingactivities |
-1,254,296 |
-8,716,790 |
85.61 |
|
|
Fortheperiodfrom the beginning of theyear to the end of theReportingPeriod |
For thecorresponding period oftheprevious year |
Increase/decrease ascomparedtothe correspondingperiod oftheprevious year |
|
|
|
|
(%) |
|
|
|
|
|
|
Revenue |
14,580,678 |
17,255,757 |
-15.50 |
|
Netprofitattributabletoshareholders ofthelistedcompany |
-6,207,790 |
-4,805,210 |
-29.19 |
|
Netprofit attributable to shareholdersofthelistedcompanyafterdeducting non-recurringprofitsandlosses |
-6,301,309 |
-4,883,411 |
-29.03 |
|
Weightedaveragereturnonnetassets (%) |
-8.33 |
-5.26 |
Decreasedby3.07percentagepoints |
|
Basicearningspershare(RMBper share) |
-0.45 |
-0.35 |
-28.57 |
|
Dilutedearningspershare(RMBper share) |
N/A |
N/A |
N/A |
Non-recurring profits and losses items and amounts
Applicable Not applicable
Unit: RMB'000
|
Items |
AmountsforthePeriod |
|
|
|
|
Gainsorlossesondisposalofnon-currentassets |
-1,991 |
|
Governmentsubsidiesrecordedintheincomestatementforthecurrentperiod(excludingthosecloselyrelatedtotheCompany'snormalbusinessandcontinuouslyentitledtoinfixedamountsorquotasinaccordancewiththerequirementsofthestatepolicy) |
124,528 |
|
Othernon-operatingincomeandexpensesnotcoveredabove |
21,162 |
|
|
|
|
Effectofnon-controllingshareholders'interests(aftertaxation) |
-15,847 |
|
Effectofincometax |
-34,333 |
|
Total |
93,519 |
2.2 Total number of shareholders, particulars of the top 10 shareholders and the top 10
holders of tradable shares (or shares not subject to selling restrictions) as at the
end of the Reporting Period
Unit: share
|
Totalnumberofshareholders(account) |
152,624 |
|||||
|
Particularsofthetop10shareholders |
||||||
|
Nameofshareholder(fullname) |
NumberofsharesheldasattheendofthePeriod |
Shareholdingpercentage |
Numberofsharesheldsubjecttosellingrestrictions |
|
Natureofshareholder |
|
|
Sharespledge Status |
dorfrozen Number |
|||||
|
|
|
(%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
ChinaNationalAviationHoldingCorporation Limited |
5,952,236,697 |
40.98 |
0 |
Frozen |
127,445,536 |
State-owned legalperson |
|
CathayPacificAirwaysLimited |
2,633,725,455 |
18.13 |
0 |
Nil |
0 |
Foreignlegal person |
|
HKSCCNOMINEESLIMITED |
1,687,906,388 |
11.62 |
0 |
Nil |
0 |
Foreignlegal person |
|
ChinaNationalAviationCorporation(Group) Limited |
1,556,334,920 |
10.72 |
0 |
Frozen |
36,454,464 |
Foreignlegal person |
|
ChinaNationalAviationFuelGroupCorporation |
463,083,102 |
3.19 |
0 |
Nil |
0 |
State-owned legalperson |
|
ChinaSecuritiesFinanceCorporationLimited |
311,302,365 |
2.14 |
0 |
Nil |
0 |
State-owned legalperson |
|
HongKongSecuritiesClearingCompanyLtd. |
168,838,788 |
1.16 |
0 |
Nil |
0 |
Foreignlegal person |
|
AgriculturalBankofChinaLimited-GFBalancedPreferredHybridSecuritiesInvestmentFund |
44,657,648 |
0.31 |
0 |
Nil |
0 |
Others |
|
BankofChinaLimited-BusinessSolicitationIndustrySelectiveStockSecuritiesInvestment Fund ( 招 ) |
30,624,884 |
0.21 |
0 |
Nil |
0 |
Others |
|
KeMiaorong ( 柯 ) |
26,822,811 |
0.18 |
0 |
Nil |
0 |
Domesticnaturalperson |
|
Particularsofthetop10shareholdersnotsubjecttosellingrestrictions |
|||
|
Nameofshareholder |
Numberoftradablesharesheldnotsubjecttoselling restrictions |
|
|
|
Classandnumb Class |
erofshares Number |
||
|
|
|
|
|
|
ChinaNationalAviationHoldingCorporationLimited |
5,952,236,697 |
RMBordinaryshares |
5,952,236,697 |
|
CathayPacificAirwaysLimited |
2,633,725,455 |
Overseaslistedforeignshares |
2,633,725,455 |
|
HKSCCNOMINEESLIMITED |
1,687,906,388 |
Overseaslistedforeignshares |
1,687,906,388 |
|
ChinaNationalAviationCorporation(Group)Limited |
1,556,334,920 |
RMBordinaryshares |
1,332,482,920 |
|
|
|
Overseaslistedforeignshares |
223,852,000 |
|
ChinaNationalAviationFuelGroupCorporation |
463,083,102 |
RMBordinaryshares |
463,083,102 |
|
ChinaSecuritiesFinanceCorporationLimited |
311,302,365 |
RMBordinaryshares |
311,302,365 |
|
HongKongSecuritiesClearingCompanyLtd. |
168,838,788 |
RMBordinaryshares |
168,838,788 |
|
AgriculturalBankofChinaLimited-GFBalancedPreferredHybridSecuritiesInvestmentFund |
44,657,648 |
RMBordinaryshares |
44,657,648 |
|
BankofChinaLimited-BusinessSolicitationIndustrySelectiveStock SecuritiesInvestmentFund ( 招 ) |
30,624,884 |
RMBordinaryshares |
30,624,884 |
|
KeMiaorong ( 柯 ) |
26,822,811 |
RMBordinaryshares |
26,822,811 |
|
Explanationonconnectedrelationshiporactioninconcertamongtheabove shareholders |
ChinaNationalAviation Corporation (Group) Limited is a wholly-owned subsidiary of ChinaNationalAviationHoldingCorporationLimited.Accordingly,ChinaNationalAviationHoldingCorporationLimitedisdirectlyandindirectlyinterestedin51.70%ofthesharesoftheCompany. |
||
|
Explanationonholdersofpreferenceshareswithrestoredvotingrightsandnumberofsharesheld |
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 1,687,906,388 H shares held by it in the Company do not include the 166,852,000 shares held by it as nominee of China National Aviation Corporation (Group) Limited.
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) ( 《
法 ( 財 [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 shares and 36,454,464 shares held by China
National Aviation Holding Corporation Limited, the controlling shareholder of the
Company, and China National Aviation Corporation (Group) Limited respectively are
frozen at present.
2.3 Total number of holders of preference shares, particulars of the top 10 holders of
preference shares and the shareholdings of the top 10 holders of preference shares not
subject to selling restrictions as at the end of the Reporting Period
Applicable Not applicable
III. SIGNIFICANT EVENTS
3.1 Particulars of, and reasons for, significant changes in major items in the accounting
statements and key financial indicators of the Company
Applicable Not applicable
The Group's revenue amounted to RMB14.581 billion and the net loss attributable to equity
shareholders of the Company amounted to RMB6.208 billion in the first quarter of 2021.
Unit: RMB'000
|
Itemsinconsolidated balancesheet |
31March 2021 |
31December 2020 |
PercentageofChange(%) |
ReasonsforChange |
|
|
|
|
|
|
|
Cash andbankbalance |
9,912,976 |
6,575,243 |
50.76 |
Mainly due to the increase in cash andbank balance pursuant to the capital useplan. |
|
Accountsreceivable |
3,898,888 |
2,942,799 |
32.49 |
Mainlyduetotheincreaseinpassenger ticketreceivables. |
|
Inventories |
2,452,987 |
1,853,990 |
32.31 |
Mainlyduetotheincreaseinthenumberofgoodsinprocessandsparepartsof flightequipment. |
|
Short-termfinancing bondspayable |
702,052 |
510,810 |
37.44 |
Mainlyduetotheimpactoftheaddition ofshort-termfinancingbonds. |
|
Billspayable |
282,111 |
62,570 |
350.87 |
Impactoftheadditionofbankacceptance notesduringtheReportingPeriod. |
Unit: RMB'000
|
Itemsinconsolidated incomestatement |
Firstquarter of2021 |
Firstquarter of2020 |
PercentageofChange(%) |
ReasonsforChange |
|
|
|
|
|
|
|
Financeexpenses |
1,615,728 |
2,329,605 |
-30.64 |
Duetotheyear-on-yeardecreaseintheexchangelossduringtheReporting Period. |
|
Incometaxexpenses |
-1,690,959 |
-1,172,789 |
-44.18 |
Due todeferred incometax expenses incurredinrecognizingthedeductibletaxlossesduringtheReportingPeriod. |
Unit: RMB'000
|
Itemsinconsolidatedstatementofcashflows |
Firstquarter of2021 |
Firstquarter of2020 |
PercentageofChange(%) |
ReasonsforChange |
|
|
|
|
|
|
|
Othercashreceivedrelatingtooperating activities |
1,624,412 |
2,374,432 |
-31.59 |
Mainlydue to the year-on-year increaseinthenetlendingmadebyasubsidiary oftheGroupduringthePeriod. |
|
Cashpaidforgoods purchasedandservices received |
8,587,763 |
12,857,493 |
-33.21 |
Mainlyduetotheyear-on-yeardecrease inpaymentsfor,amongothers, aviationfuelpaidduringthePeriod. |
|
Cashpaidforpurchase andconstructionof fixedassets,intangibleassetsandotherlong- termassets |
562,481 |
2,811,387 |
-79.99 |
Mainlydueto the year-on-year decreaseinadvancepaymentsforaircraftduring thePeriod. |
|
Cashreceivedfrom issuanceofdebentures |
700,000 |
9,000,000 |
-92.22 |
Duetotheyear-on-yeardecreaseintheissuanceofdebenturesduringthe Period |
|
Cashreceivedfromcapital injection |
490,148 |
- |
N/A |
Duetothecapitalcontributionreceived fromminorityshareholdersofa subsidiaryoftheGroupduringthe Period. |
|
Cashpaidforrepayment ofborrowings |
4,219,254 |
1,971,740 |
113.99 |
Duetotheyear-on-yearincreaseinrepaymentofborrowingsduringthe Period. |
|
Cashpaidforrepayment ofdebentures |
1,000,000 |
5,300,000 |
-81.13 |
Duetotheyear-on-yeardecreaseinrepaymentofdebenturesduringthe Period. |
|
Othercashpaidrelatingto financingactivities |
3,616,317 |
2,749,273 |
31.54 |
Duetotheyear-on-yearincreaseinlease paymentpaidduringthePeriod. |
3.2 Analysis and explanation on the progress of significant events and their impact and resolutions
Applicable Not applicable
3.3 Undertakings that were failed to fulfill as scheduled during the Reporting Period
Applicable Not applicable
3.4 Warnings and explanations with regard to forecast of a probable loss in respect of the
accumulative net profits from the beginning of the year to the end of the next reporting
period or any significant changes as compared with that of the corresponding
period of previous year
Applicable Not applicable
In the event that the impact of the COVID-19 pandemic extends into the next reporting
period, it is estimated that the results of the Group during the period from the beginning of
the year to the end of the next reporting period will be affected. With the domestic pandemic
brought under control and the coverage of vaccination continuing to expand, the
demand for civil aviation transportation will gradually recover. The Group will capitalize on
the opportunity of market recovery by optimizing transport capacity investment in a timely
manner, and take various initiatives, all with an active effort to achieve better performances.
|
Companyname |
|
AirChinaLimited |
|
Legalrepresentative |
|
Mr.SongZhiyong |
|
Date |
|
29April2021 |
IV. APPENDICES
4.1 Financial Statements CONSOLIDATED BALANCE SHEET
31 March 2021
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
31March 2021 |
31December 2020 |
|
|
|
|
|
CURRENTASSETS: |
|
|
|
Cashandbankbalance |
9,912,976 |
6,575,243 |
|
Provisionsonpayables |
|
|
|
Contributionsmade |
|
|
|
Financialassetsheld-for-trading |
50,014 |
|
|
Derivativefinancialassets |
|
|
|
Billsreceivable |
2,143 |
6,593 |
|
Accountsreceivable |
3,898,888 |
2,942,799 |
|
Receivablesfinancing |
|
|
|
Prepayments |
502,387 |
421,237 |
|
Premiumreceivable |
|
|
|
Receivablesonreinsurance |
|
|
|
Provisionsforreinsurancecontracts |
|
|
|
Otherreceivables |
3,307,743 |
3,491,233 |
|
Including:Interestreceivable |
|
|
|
Dividendreceivable |
|
|
|
Items |
31March 2021 |
31December 2020 |
|
|
|
|
|
Purchaseoffinancialassetsresold |
|
|
|
Inventories |
2,452,987 |
1,853,990 |
|
Contractassets |
|
|
|
Held-for-saleassets |
|
|
|
Non-currentassetsduewithinayear |
|
|
|
Othercurrentassets |
4,591,796 |
4,444,806 |
|
Totalcurrentassets |
24,718,934 |
19,735,901 |
|
|
|
|
|
NON-CURRENTASSETS: |
|
|
|
Loansandadvances |
|
|
|
Debtinvestments |
|
|
|
Otherdebtinvestments |
1,279,422 |
1,344,829 |
|
Long-termreceivables |
604,241 |
621,398 |
|
Long-termequityinvestments |
11,403,923 |
12,379,614 |
|
Investmentsinotherequityinstruments |
230,373 |
235,223 |
|
Othernon-currentfinancialassets |
|
|
|
Investmentproperties |
137,225 |
138,688 |
|
Fixedassets |
86,199,984 |
87,717,717 |
|
Constructioninprogress |
35,776,305 |
38,138,866 |
|
Biologicalassetsforproduction |
|
|
|
Oilandgasassets |
|
|
|
Right-of-useassets |
114,680,176 |
112,074,148 |
|
Intangibleassets |
3,582,001 |
3,597,206 |
|
Developmentexpenses |
|
|
|
Goodwill |
1,102,185 |
1,102,185 |
|
Long-termdeferredexpenses |
275,706 |
292,972 |
|
Deferredtaxassets |
8,393,598 |
6,691,963 |
|
Othernon-currentassets |
|
|
|
Totalnon-currentassets |
263,665,139 |
264,334,809 |
|
Totalassets |
288,384,073 |
284,070,710 |
|
|
|
|
|
CURRENTLIABILITIES: |
|
|
|
Short-termloans |
34,550,530 |
29,327,087 |
|
Short-termfinancingbondspayable |
702,052 |
510,810 |
|
Borrowingsfromcentralbank |
|
|
|
Contributionsreceived |
|
|
|
|
|
|
|
Items |
31March 2021 |
31December 2020 |
|
|
|
|
|
Financialliabilitiesheld-for-trading |
|
|
|
Derivativefinancialliabilities |
|
|
|
Billspayable |
282,111 |
62,570 |
|
Accountspayables |
14,192,448 |
12,740,096 |
|
Airtrafficliabilities |
2,185,697 |
2,002,649 |
|
Receiptsinadvance |
|
|
|
Contractliabilities |
1,509,446 |
1,280,102 |
|
Saleoffinancialassetsrepurchased |
|
|
|
Depositsfromclientsandplacementsfromotherbanks |
|
|
|
Brokeragepayable |
|
|
|
Underwritingfeespayable |
|
|
|
Employeecompensationspayable |
1,880,087 |
2,608,944 |
|
Taxespayable |
212,693 |
206,547 |
|
Otherpayables |
8,724,309 |
9,600,645 |
|
Including:Interestpayable |
|
|
|
Dividendpayable |
|
|
|
Feesandcommissionspayable |
|
|
|
Amountspayableonreinsurance |
|
|
|
Held-for-saleliabilities |
|
|
|
Non-currentliabilitiesduewithinayear |
23,023,916 |
22,054,735 |
|
Othercurrentliabilities |
|
|
|
Totalcurrentliabilities |
87,263,289 |
80,394,185 |
|
Items |
31March 2021 |
31December 2020 |
|
|
|
|
|
NON-CURRENTLIABILITIES: |
|
|
|
Reservesoninsurancecontracts |
|
|
|
Long-termloans |
25,101,140 |
21,140,699 |
|
Debenturespayable |
9,498,639 |
10,498,398 |
|
Including:Preferenceshares |
|
|
|
Perpetualbonds |
|
|
|
Leaseliabilities |
76,707,769 |
76,098,678 |
|
Long-termpayables |
6,105,917 |
5,783,825 |
|
Long-termemployeecompensationpayables |
231,732 |
229,332 |
|
Accruedliabilities |
3,099,970 |
3,023,109 |
|
Deferredincome |
482,447 |
488,791 |
|
Deferredtaxliabilities |
332,965 |
334,720 |
|
Othernon-currentliabilities |
2,120,272 |
2,264,843 |
|
Totalnon-currentliabilities |
123,680,851 |
119,862,395 |
|
Totalliabilities |
210,944,140 |
200,256,580 |
|
|
|
|
|
OWNERS'EQUITY(ORSHAREHOLDERS'EQUITY): |
|
|
|
Paid-upcapital(orsharecapital) |
14,524,815 |
14,524,815 |
|
Otherequityinstruments |
|
|
|
Including:Preferenceshares |
|
|
|
Perpetualbonds |
|
|
|
Capitalreserve |
26,270,841 |
26,270,841 |
|
Less:Treasuryshares |
|
|
|
Othercomprehensiveincome |
-782,212 |
-871,587 |
|
Specialreserves |
|
|
|
Surplusreserves |
11,564,287 |
11,564,287 |
|
Generalriskprovisions |
110,628 |
110,628 |
|
Retainedearnings |
19,775,647 |
25,983,437 |
|
Totalowners'equity(orshareholders'equity)attributabletoequityshareholdersoftheparentcompany |
71,464,006 |
77,582,421 |
|
Non-controllinginterests |
5,975,927 |
6,231,709 |
|
Totalowners'equity(orshareholders'equity) |
77,439,933 |
83,814,130 |
|
Totalliabilitiesandowners'equity(orshareholders'equity) |
288,384,073 |
284,070,710 |
|
PersoninchargeoftheCompany:Mr.SongZhiyong |
|
Personinchargeofaccountingfunction:Mr.XiaoFeng |
|
Personinchargeofaccountingdepartment:Mr.ZhanZhong |
BALANCE SHEET OF THE PARENT COMPANY
31 March 2021
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
31March 2021 |
31December 2020 |
|
|
|
|
|
CURRENTASSETS: |
|
|
|
Cashandbankbalance |
5,093,766 |
4,651,356 |
|
Financialassetsheld-for-trading |
|
|
|
Derivativefinancialassets |
|
|
|
Billsreceivable |
|
|
|
Accountsreceivable |
3,124,558 |
2,259,952 |
|
Receivablesfinancing |
|
|
|
Prepayments |
257,416 |
261,522 |
|
Otherreceivables |
2,823,166 |
2,999,425 |
|
Including:Interestreceivable |
|
|
|
Dividendreceivable |
|
|
|
Inventories |
88,787 |
88,664 |
|
Contractassets |
|
|
|
Held-for-saleassets |
|
|
|
Non-currentassetsduewithinayear |
|
|
|
Othercurrentassets |
2,584,440 |
2,327,891 |
|
Totalcurrentassets |
13,972,133 |
12,588,810 |
|
Items |
31March 2021 |
31December 2020 |
|
|
|
|
|
NON-CURRENTASSETS: |
|
|
|
Debtinvestments |
|
|
|
Otherdebtinvestments |
|
|
|
Long-termreceivables |
908,209 |
934,946 |
|
Long-termequityinvestments |
24,247,219 |
24,719,781 |
|
Investmentsinotherequityinstruments |
22,783 |
22,783 |
|
Othernon-currentfinancialassets |
|
|
|
Investmentproperties |
|
|
|
Fixedassets |
62,694,698 |
64,110,458 |
|
Constructioninprogress |
25,240,481 |
26,891,441 |
|
Biologicalassetsforproduction |
|
|
|
Oilandgasassets |
|
|
|
Right-of-useassets |
78,395,914 |
76,579,042 |
|
Intangibleassets |
2,483,490 |
2,479,040 |
|
Developmentexpenses |
|
|
|
Goodwill |
|
|
|
Long-termdeferredexpenses |
196,099 |
217,999 |
|
Deferredtaxassets |
6,929,567 |
5,620,570 |
|
Othernon-currentassets |
|
|
|
Totalnon-currentassets |
201,118,460 |
201,576,060 |
|
Totalassets |
215,090,593 |
214,164,870 |
|
|
|
|
|
CURRENTLIABILITIES: |
|
|
|
Short-termloans |
24,620,295 |
20,431,852 |
|
Financialliabilitiesheld-for-trading |
|
|
|
Derivativefinancialliabilities |
|
|
|
Billspayable |
|
|
|
Accountspayable |
10,664,119 |
10,376,360 |
|
Airtrafficliabilities |
1,707,653 |
1,652,124 |
|
Receiptsinadvance |
|
|
|
Contractliabilities |
1,201,576 |
1,006,813 |
|
Employeecompensationspayable |
553,174 |
882,311 |
|
Taxespayable |
136,897 |
96,157 |
|
Otherpayables |
4,767,099 |
6,254,523 |
|
Including:Interestpayable |
|
|
|
Dividendpayable |
|
|
|
Held-for-saleliabilities |
|
|
|
Non-currentliabilitiesduewithinayear |
15,471,543 |
15,306,089 |
|
Othercurrentliabilities |
|
|
|
Totalcurrentliabilities |
59,122,356 |
56,006,229 |
|
Items |
31March 2021 |
31December 2020 |
|
|
|
|
|
NON-CURRENTLIABILITIES: |
|
|
|
Long-termloans |
18,704,714 |
16,467,910 |
|
Debenturespayable |
6,500,000 |
6,500,000 |
|
Including:Preferenceshares |
|
|
|
Perpetualbonds |
|
|
|
Leaseliabilities |
52,265,887 |
51,955,400 |
|
Long-termpayables |
2,936,246 |
2,876,964 |
|
Long-termemployeecompensationpayables |
|
|
|
Accruedliabilities |
2,217,316 |
2,155,105 |
|
Deferredincome |
348,093 |
355,457 |
|
Deferredtaxliabilities |
|
|
|
Othernon-currentliabilities |
1,822,853 |
1,981,139 |
|
Totalnon-currentliabilities |
84,795,109 |
82,291,975 |
|
Totalliabilities |
143,917,465 |
138,298,204 |
|
|
|
|
|
OWNERS'EQUITY(ORSHAREHOLDERS'EQUITY): |
|
|
|
Paid-upcapital(orsharecapital) |
14,524,815 |
14,524,815 |
|
Otherequityinstruments |
|
|
|
Including:Preferenceshares |
|
|
|
Perpetualbonds |
|
|
|
Capitalreserve |
30,618,680 |
30,618,680 |
|
Less:Treasuryshares |
|
|
|
Othercomprehensiveincome |
283,195 |
283,195 |
|
Specialreserves |
|
|
|
Surplusreserves |
11,527,181 |
11,527,181 |
|
Retainedearnings |
14,219,257 |
18,912,795 |
|
Totalowners'equity(orshareholders'equity) |
71,173,128 |
75,866,666 |
|
Totalliabilitiesandowners'equity(orshareholders'equity) |
215,090,593 |
214,164,870 |
|
PersoninchargeoftheCompany:Mr.SongZhiyong |
|
Personinchargeofaccountingfunction:Mr.XiaoFeng |
|
Personinchargeofaccountingdepartment:Mr.ZhanZhong |
CONSOLIDATED INCOME STATEMENT
January to March 2021
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
I.Totalrevenuefromoperations |
14,580,678 |
17,255,757 |
|
Including:Operatingincome |
14,580,678 |
17,255,757 |
|
Interestincome |
|
|
|
Premiumearned |
|
|
|
Feesandcommissionincome |
|
|
|
|
|
|
|
II.Totaloperatingcost |
23,098,558 |
23,823,243 |
|
Including:Operatingcosts |
19,241,297 |
19,365,536 |
|
Interestexpenses |
|
|
|
Feesandcommissionexpenses |
|
|
|
Returnedpremium |
|
|
|
Netreimbursementpaid |
|
|
|
Netamountsofprovisionsoninsuranceobligationsdrawn |
|
|
|
Bonuspaid on insurance policy |
|
|
|
Reinsurancepremium |
|
|
|
Taxesandotherlevies |
58,856 |
42,039 |
|
Sellingexpenses |
1,095,861 |
1,064,170 |
|
Generalandadministrativeexpenses |
1,056,567 |
902,659 |
|
R&Dexpenses |
30,249 |
119,234 |
|
Finance expenses |
1,615,728 |
2,329,605 |
|
Including:Interestexpenses |
1,313,417 |
1,277,782 |
|
Interestincome |
8,188 |
15,041 |
|
Add:Otherincome |
913,601 |
999,269 |
|
Investmentincome(lossisrepresentedby"-"sign) |
-1,047,673 |
-1,238,000 |
|
Including:Shareofprofitsofassociatesandjointventures |
-1,062,546 |
-1,252,951 |
|
Derecognitionofgainsonfinancialassets measuredatamortisedcost |
|
|
|
Exchangegains(lossisrepresentedby"-"sign) |
|
|
|
Gainsfromnetexposuretohedging(lossisrepresentedby "-"sign) |
|
|
|
Gainsfromchangesinfairvalue(lossisrepresentedby"-" sign) |
|
|
|
Impairmentlossofcredit(lossisrepresentedby"-"sign) |
-5,228 |
16,994 |
|
Impairmentlossofassets(lossisrepresentedby"-"sign) |
|
|
|
Gainsfromdisposalofassets(lossisrepresentedby"-" sign) |
-914 |
387 |
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
III.Profitfromoperations(lossisrepresentedby"-"sign) |
-8,658,094 |
-6,788,836 |
|
Add:Non-operatingincome |
27,204 |
17,633 |
|
Less:Non-operatingexpenses |
7,119 |
17,998 |
|
IV.Totalprofit(totallossisrepresentedby"-" sign) |
-8,638,009 |
-6,789,201 |
|
Less: Income tax expenses |
-1,690,959 |
-1,172,789 |
|
V. Net profit (net loss is represented by "-" sign) |
-6,947,050 |
-5,616,412 |
|
(I)Classifiedbycontinuityofoperations |
|
|
|
1.Netprofitfromcontinuingoperations(netlossisrepresented by"-"sign) |
-6,947,050 |
-5,616,412 |
|
2.Netprofitfromdiscontinuedoperation(netlossis representedby"-"sign) |
|
|
|
(II)Classified by ownership |
|
|
|
1.Netprofitsattributabletoshareholdersoftheparent company(netlossisrepresentedby"-"sign) |
-6,207,790 |
-4,805,210 |
|
2.Netprofitsattributabletonon-controllinginterests(netloss isrepresentedby"-"sign) |
-739,260 |
-811,202 |
|
VI.Othercomprehensiveincomeaftertaxation,net |
82,705 |
408,388 |
|
(I)Othercomprehensiveincomeaftertaxationattributableto shareholdersoftheparentcompany,net |
89,375 |
417,470 |
|
1.Othercomprehensiveincomethatcannotbesubsequently reclassifiedtoprofitorloss |
-1,854 |
-22,641 |
|
(1)Changesarisingonremeasurementofdefinedbenefit plans |
|
|
|
(2)Othercomprehensiveincomeaccountedforusingtheequitymethodthatcannotbereclassifiedtoprofitor loss |
|
|
|
(3)Changeinfairvalueofinvestmentsinotherequity instruments |
-1,854 |
-22,641 |
|
(4)Changein fairvalue ofown creditrisk of theCompany |
|
|
|
2.Othercomprehensiveincomethatwillbereclassifiedto profitorloss |
91,229 |
440,111 |
|
(1)Other comprehensive income accounted for using the equitymethodthatmaybereclassifiedtoprofitorloss |
|
|
|
(2)Change infair value of otherdebt investments |
-1,945 |
5,591 |
|
(3)Amountoffinancialassetsreclassifiedintoother comprehensiveincome |
|
|
|
(4)Provisionsforcreditimpairmentofotherdebt investments |
-2,387 |
-2,101 |
|
(5)Reserveforcashflowhedging |
|
|
|
(6)Exchangedifferenceontranslationoffinancialstatements inforeigncurrency |
95,561 |
436,621 |
|
(7)Others |
|
|
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
(II)Othercomprehensiveincomeaftertaxationattributabletonon- controllinginterests,net |
-6,670 |
-9,082 |
|
|
|
|
|
VII.Totalcomprehensiveincome |
-6,864,345 |
-5,208,024 |
|
(I)Totalcomprehensiveincomeattributabletoshareholdersofthe Company |
-6,118,415 |
-4,387,740 |
|
(II)Totalcomprehensiveincomeattributabletonon-controlling interests |
-745,930 |
-820,284 |
|
|
|
|
|
VIII.Earningspershare: |
|
|
|
(I)Basicearnings pershare (RMBper share) |
-0.45 |
-0.35 |
|
(II)Dilutedearningspershare(RMBpershare) |
N/A |
N/A |
For business combination under common control during the Period, the net profit of merged
party before the business combination is Nil, and the net profit of the merged party for
the last period is Nil.
|
PersoninchargeoftheCompany:Mr.SongZhiyong |
|
Personinchargeofaccountingfunction:Mr.XiaoFeng |
|
Personinchargeofaccountingdepartment:Mr.ZhanZhong |
INCOME STATEMENT OF THE PARENT COMPANY
January to March 2021
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
I.Revenuefromoperations |
9,503,315 |
12,074,346 |
|
Less:Operatingcosts |
13,081,239 |
13,176,995 |
|
Taxesandotherlevies |
32,236 |
17,135 |
|
Sellingexpenses |
787,775 |
733,625 |
|
Generalandadministrativeexpenses |
508,679 |
367,534 |
|
R&Dexpenses |
12,708 |
36,263 |
|
Finance expenses |
1,122,009 |
1,674,339 |
|
Including:Interestexpenses |
962,317 |
920,183 |
|
Interestincome |
21,290 |
22,643 |
|
Add:Otherincome |
511,239 |
559,303 |
|
Investmentincome(lossisrepresentedby"-"sign) |
-472,271 |
-315,809 |
|
Including:Shareofprofitsofassociatesandjointventures |
-472,562 |
-315,809 |
|
Derecognitionofgainsonfinancialassets measuredatamortisedcost |
|
|
|
Gainsfromnetexposuretohedging(lossisrepresentedby "-"sign) |
|
|
|
Gainsfromchangesinfairvalue(lossisrepresentedby"-" sign) |
|
|
|
Impairmentlossofcredit(lossisrepresentedby"-"sign) |
|
|
|
Impairmentlossofassets(lossisrepresentedby"-"sign) |
|
|
|
-949 |
93 |
|
|
|
|
|
|
II.Profitfromoperations(lossisrepresentedby"-"sign) |
-6,003,312 |
-3,687,958 |
|
Add:Non-operatingincome |
2,352 |
3,134 |
|
Less:Non-operatingexpenses |
289 |
15,428 |
|
|
|
|
|
III.Totalprofit(totallossisrepresentedby"-"sign) |
-6,001,249 |
-3,700,252 |
|
Less: Income tax expenses |
-1,307,711 |
-779,658 |
|
|
|
|
|
IV.Netprofit(netlossisrepresentedby"-"sign) |
-4,693,538 |
-2,920,594 |
|
(I) Net profit from continuing operations (net loss is represented by "-" sign) |
-4,693,538 |
-2,920,594 |
|
(II) Net profit from discontinued operations (net loss is represented by "-" sign) |
|
|
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
V.Othercomprehensiveincomeaftertaxation,net |
|
|
|
(I)Othercomprehensiveincomethatcannotbesubsequently reclassifiedtoprofitorloss |
|
|
|
1.Changesarisingonremeasurementofdefinedbenefitplans |
|
|
|
2.Othercomprehensiveincomeaccountedforusingtheequity methodthatcannotbereclassifiedtoprofitorloss |
|
|
|
3.Changeinfairvalueofinvestmentsinotherequity instruments |
|
|
|
4. Change in fair value of own credit risks of the Company |
|
|
|
(II)Othercomprehensiveincomethatwillbereclassifiedtoprofit orloss |
|
|
|
1.Othercomprehensiveincomeaccountedforusingtheequity methodthatmaybereclassifiedtoprofitorloss |
|
|
|
2.Change in fair valueof other debt investments |
|
|
|
3.Amountoffinancialassetsreclassifiedintoother comprehensiveincome |
|
|
|
4.Provisionsforcreditimpairmentofotherdebtinvestments |
|
|
|
5. Reserveforcash flowhedging |
|
|
|
6.Exchangedifferenceontranslationoffinancialstatementsin foreigncurrency |
|
|
|
7.Others |
|
|
|
|
|
|
|
VI.Totalcomprehensiveincome |
-4,693,538 |
-2,920,594 |
|
|
|
|
|
VII.Earningspershare: |
|
|
|
(I)Basicearnings pershare (RMBper share) |
|
|
|
(II)Dilutedearningspershare(RMBpershare) |
|
|
|
PersoninchargeoftheCompany:Mr.SongZhiyong |
|
Personinchargeofaccountingfunction:Mr.XiaoFeng |
|
Personinchargeofaccountingdepartment:Mr.ZhanZhong |
CONSOLIDATED CASH FLOW STATEMENT
January to March 2021
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
I.Cashflowsfromoperatingactivities: |
|
|
|
Cashreceivedfromsalesofgoodsandprovisionofservices |
14,380,541 |
11,619,620 |
|
Netincreaseindepositsfromclientsandplacementsfrombanks |
|
|
|
Netincreaseinborrowingsfromcentralbank |
|
|
|
Netincreaseinborrowingsfromotherfinancialinstitutions |
|
|
|
Cashreceivedfrompremiumsoforiginalinsurancecontracts |
|
|
|
Netcashreceiptfromreinsuranceoperations |
|
|
|
Netincreaseinreserveoftheinsuredandinvestment |
|
|
|
Cashreceivedfrominterest,feesandcommission |
|
|
|
Netincreaseincontributionsreceived |
|
|
|
Netincreaseincashfromrepurchaseoperations |
|
|
|
Netcashreceiptfromsecuritiestradingasagent |
|
|
|
Refundoftaxesandlevies |
4,636 |
4,297 |
|
Othercashreceivedrelatingtooperatingactivities |
1,624,412 |
2,374,432 |
|
Subtotalofcashinflowsofoperatingactivities |
16,009,589 |
13,998,349 |
|
Cashpaidforgoodspurchasedandservicesreceived |
8,587,763 |
12,857,493 |
|
Netincrease in loans and advances toclients |
|
|
|
Netincreaseindepositsincentralbank andotherbanks |
|
|
|
Cashpaidinrespectofclaimsunderoriginalinsurancecontracts |
|
|
|
Netincreaseincontributionsmade |
|
|
|
Cashpaidforinterest,feesandcommissions |
|
|
|
Cashpaidfor bonuspaid oninsurancepolicy |
|
|
|
Cash paidtooronbehalfofemployees |
6,584,075 |
7,044,573 |
|
Taxesandleviespaid |
266,475 |
618,697 |
|
Othercashpaidrelatingtooperatingactivities |
1,825,572 |
2,194,376 |
|
Subtotalofcashoutflowsfromoperatingactivities |
17,263,885 |
22,715,139 |
|
Netcashflowsfromoperatingactivities |
-1,254,296 |
-8,716,790 |
|
|
|
|
|
II.Cashflowsfrominvestingactivities: |
|
|
|
Cashreceivedfromsaleandredemptionofinvestments |
722,905 |
394,656 |
|
Cashreceivedfrominvestmentincome |
291 |
11,570 |
|
Netcashproceedsfromdisposaloffixedassets,intangibleassets andotherlong-termassets |
8,251 |
8,022 |
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
Netcashproceedsfromdisposalofsubsidiariesandotherbusiness units |
|
|
|
Othercashreceivedrelatingtoinvestingactivities |
31,118 |
15,901 |
|
Subtotalofcashinflowsfrominvestingactivities |
762,565 |
430,149 |
|
Cashpaidforpurchaseandconstructionoffixedassets,intangible assetsandotherlong-termassets |
562,481 |
2,811,387 |
|
Cash paidfor investments |
50,000 |
|
|
Netincrease insecuredloans |
|
|
|
Netcashpaymentsforacquisitionofsubsidiariesandotherbusiness units |
|
|
|
Othercashpaidrelatingtoinvestingactivities |
6,758 |
1,631 |
|
Subtotalofcashoutflowsfrominvestingactivities |
619,239 |
2,813,018 |
|
Netcashflowsfrominvestingactivities |
143,326 |
-2,382,869 |
|
|
|
|
|
III.Cashflowsfromfinancingactivities: |
|
|
|
Cashreceivedfromissuanceofdebentures |
700,000 |
9,000,000 |
|
Cashreceivedfromcapitalinjection |
490,148 |
|
|
Including:Cashreceivedfromcapitalinjectionofminority shareholdersinsubsidiaries |
490,148 |
|
|
Cashreceivedfromborrowings |
13,650,876 |
15,321,878 |
|
Othercashreceivedrelatingtofinancingactivities |
|
|
|
Subtotalofcashinflowsfromfinancingactivities |
14,841,024 |
24,321,878 |
|
Cashpaidforrepaymentofborrowings |
4,219,254 |
1,971,740 |
|
Cashpaidforrepaymentofdebentures |
1,000,000 |
5,300,000 |
|
Cashpaidfordistributionofdividends,profitsorpaymentof interestexpenses |
1,564,579 |
1,462,255 |
|
Including:Dividendsandprofitspaidtominorityshareholdersby subsidiaries |
|
|
|
Othercashpaidrelatingtofinancingactivities |
3,616,317 |
2,749,273 |
|
Subtotalofcashoutflowsfromfinancingactivities |
10,400,150 |
11,483,268 |
|
Netcashflowsfromfinancingactivities |
4,440,874 |
12,838,610 |
|
|
|
|
|
IV.Effectofexchangeratechangesoncashandcashequivalents |
23,666 |
24,514 |
|
|
|
|
|
V.Netincreaseincashandcashequivalents |
3,353,570 |
1,763,465 |
|
Add:Balanceofcashandcashequivalentsasatthebeginningof thePeriod |
5,837,998 |
8,935,282 |
|
|
|
|
|
VI.Balanceofcashandcashequivalentsasattheendofthe Period |
9,191,568 |
10,698,747 |
Person in charge of the Company: Mr. Song Zhiyong
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
CASH FLOW STATEMENT OF THE PARENT COMPANY
January to March 2021
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
I.Cashflowsfromoperatingactivities: |
|
|
|
Cashreceivedfromsalesofgoodsandprovisionofservices |
8,896,718 |
6,952,959 |
|
Refundoftaxesandlevies |
|
|
|
Othercashreceivedrelatingtooperatingactivities |
1,189,980 |
968,627 |
|
Subtotalofcashinflowsofoperatingactivities |
10,086,698 |
7,921,586 |
|
Cashpaidforgoodspurchasedandservicesreceived |
6,670,049 |
9,349,929 |
|
Cash paidtooronbehalfofemployees |
3,665,393 |
3,916,282 |
|
Taxesandleviespaid |
68,839 |
527,452 |
|
Othercashpaidrelatingtooperatingactivities |
831,692 |
630,850 |
|
Subtotalofcashoutflowsfromoperatingactivities |
11,235,973 |
14,424,513 |
|
Netcashflowsfromoperatingactivities |
-1,149,275 |
-6,502,927 |
|
|
|
|
|
II.Cashflowsfrominvestingactivities: |
|
|
|
Cashreceivedfromsaleandredemptionofinvestments |
|
|
|
Cashreceivedfrominvestmentincome |
291 |
|
|
Netcashproceedsfromdisposaloffixedassets,intangibleassets andotherlong-termassets |
1,204 |
2,271 |
|
Netcashproceedsfromdisposalofsubsidiariesandotherbusiness units |
|
|
|
Othercashreceivedrelatingtoinvestingactivities |
21,290 |
22,643 |
|
Subtotalofcashinflowsfrominvestingactivities |
22,785 |
24,914 |
|
Cashpaidforpurchaseandconstructionoffixedassets,intangible assetsandotherlong-termassets |
462,723 |
2,328,567 |
|
Cash paidfor investments |
|
|
|
Netcashpaymentsforacquisitionofsubsidiariesandotherbusiness units |
|
|
|
Othercashpaidrelatingtoinvestingactivities |
|
|
|
Subtotalofcashoutflowsfrominvestingactivities |
462,723 |
2,328,567 |
|
Netcashflowsfrominvestingactivities |
-439,938 |
-2,303,653 |
|
Items |
Firstquarter of2021 |
Firstquarter of2020 |
|
|
|
|
|
III.Cashflowsfromfinancingactivities: |
|
|
|
Cashreceivedfromcapitalinjection |
|
|
|
Cashreceivedfromissuanceofdebentures |
|
3,000,000 |
|
Cashreceivedfromborrowings |
9,050,000 |
10,566,500 |
|
Othercashreceivedrelatingtofinancingactivities |
|
|
|
Subtotalofcashinflowsfromfinancingactivities |
9,050,000 |
13,566,500 |
|
Cashpaidforrepaymentofborrowings |
3,615,542 |
1,558,821 |
|
Cashpaidfordistributionofdividends,profitsorpaymentof interestexpenses |
1,058,650 |
996,478 |
|
Othercashpaidrelatingtofinancingactivities |
2,366,299 |
2,060,798 |
|
Subtotalofcashoutflowsfromfinancingactivities |
7,040,491 |
4,616,097 |
|
Netcashflowsfromfinancingactivities |
2,009,509 |
8,950,403 |
|
|
|
|
|
IV.Effectofexchangeratechangesoncashandcashequivalents |
22,114 |
-5,466 |
|
|
|
|
|
V.Netincreaseincashandcashequivalents |
442,410 |
138,357 |
|
Add:Balanceofcashandcashequivalentsasatthebeginningof thePeriod |
4,609,130 |
6,751,816 |
|
|
|
|
|
VI.Balanceofcashandcashequivalentsasattheendofthe Period |
5,051,540 |
6,890,173 |
|
PersoninchargeoftheCompany:Mr.SongZhiyong |
|
Personinchargeofaccountingfunction:Mr.XiaoFeng |
|
Personinchargeofaccountingdepartment:Mr.ZhanZhong |
4.2 Particulars in relation to adjustments made to the financial statements as at the
beginning of the year for the initial implementation of New Lease Standard since 2021
Applicable Not Applicable
4.3 Description of the retrospective adjustment to the comparable figures for the previous
period due to the initial implementation of the New Lease Standard since 2021
Applicable Not Applicable
4.4 Auditor's Report
Applicable Not Applicable
By Order of the Board
Air China Limited
Zhou Feng
Company Secretary
Beijing, the PRC, 29 April 2021
As at the date of this announcement, the directors of the Company are Mr. Song Zhiyong, Mr. Feng
Gang, Mr. Patrick Healy, Mr. Xue Yasong, Mr. Duan Hongyi*, Mr. Stanley Hui Hon-chung* and
Mr. Li Dajin*.
* Independent non-executive director of the Company
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