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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Air China Ld | LSE:AIRC | London | Ordinary Share | CNE1000001S0 | H SHS CNY1 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 78.8045 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Air Transport, Scheduled | 52.74B | -35.02B | -7.0666 | -0.07 | 2.28B |
TIDMAIRC
RNS Number : 9341U
Air China Ld
30 October 2017
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http://www.rns-pdf.londonstockexchange.com/rns/9341U_-2017-10-30.pdf
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.
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 2017
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 27 October 2017 and passed the resolution approving the third quarterly report 2017 of the Company for the nine months ended 30 September 2017 prepared in accordance with the PRC Accounting Standards.
1. 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 consider the quarterly report.
1.3 Mr. Cai Jianjiang (legal representative and the Chairman of the Board of the Company), Mr. Xiao Feng (person in charge of accounting function and the Chief Financial Officer), 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 third quarterly report of the Company is unaudited. 2. BASIC INFORMATION OF THE COMPANY 2.1 Major financial data
Unit: RMB'000
Increase/decrease at the end of the reporting period as compared to the end of At the end At the end the of the of the previous reporting period previous year year (%) Total assets 239,073,681 224,128,192 6.67 Net asset attributable to shareholders of the listed company 85,618,153 68,876,496 24.31 For the period from the beginning Increase/decrease of the year For the corresponding as compared to the end period of to the corresponding of the reporting the previous period of period (January year (January the previous to September) to September) year (%) Net cash flows from operating activities 18,860,654 24,008,238 (21.44) For the period from the beginning Increase/decrease of the year For the corresponding as compared to the end period of to the corresponding of the reporting the previous period of period (January year (January the previous to September) to September) year (%) Revenue 92,995,787 85,447,650 8.83 Net profit attributable to shareholders of the listed company 8,278,508 7,226,708 14.55 Net profit attributable to shareholders of the listed company after deducting non-recurring profits and losses 8,150,110 6,691,893 21.79 Weighted average return Decreased by on net assets (%) 10.34 11.39 1.05 ppts Basic earnings per share (RMB per share) 0.62 0.59 5.08 Diluted earnings per share (RMB per share) N/A N/A N/A
Non-recurring profits and losses
Applicable
Unit: RMB'000
Amounts for the period from the beginning of the year Amounts for to the end the period of the reporting (July to period (January Items September) to September) Gains or losses on disposal of non-current assets 47,464 45,485 Government subsidies recorded in the income statement for the current period (exclusive of government subsidies which are closely related to the normal operating business of the Company and consistently entitled pursuant to prescribed standard quota or amount under the government policy) 40,604 129,575 Gains or losses from changes in fair value of financial assets/liabilities held for trading and investment gains from disposal of financial assets/ liabilities held for trading and available-for-sale financial assets (except for hedging activities related to the Company's normal operating business) 338 370 Reversal of provision for impairment of receivables which are individually tested for impairment - 3,572 Other non-operating income and expenses not covered above 6,506 40,044 Effect of minority shareholders' interests (after taxation) (8,337) (31,342) Effect of income tax (25,481) (59,306) Total 61,094 128,398
2.2 Total number of shareholders, 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
Total number of shareholders 179,431
Particulars of the top 10 shareholders Shares pledged or frozen Number of Number shares of held shares as at held the end subject Nature Name of shareholder of the Shareholding to selling of (full name) period percentage restrictions Status Number shareholder (%) China National Aviation Holding Company 5,952,236,697 40.98 513,478,818 Frozen 127,445,536 State Cathay Pacific Foreign legal Airways Limited 2,633,725,455 18.13 0 Nil / person HKSCC NOMINEES Foreign legal LIMITED 1,684,098,519 11.60 0 Nil / person China National Aviation Corporation Foreign legal (Group) Limited 1,556,334,920 10.72 0 Frozen 36,454,464 person China National
Aviation Fuel State-owned Group Corporation 469,145,502 3.23 385,109,114 Nil / legal person China Securities Finance Corporation State-owned Limited 384,806,469 2.65 0 Nil / legal person Zhongyuan Equity Investment Management State-owned Co., Ltd. 262,569,509 1.81 256,739,409 Unknown 262,569,405 legal person China Structural Reform Fund State-owned Co., Ltd. 231,065,468 1.59 231,065,468 Nil / legal person National Social Security Fund 118 71,034,895 0.49 0 Nil / Unknown China Merchants Securities State-owned Co., Ltd. 34,419,032 0.24 0 Nil / legal person Particulars of the top 10 shareholders not subject to selling restrictions Class and number of shares Number of tradable shares held not subject to selling Name of shareholder restrictions Class Number China National Aviation RMB ordinary Holding Company 5,438,757,879 shares 5,438,757,879 Cathay Pacific Airways Overseas listed Limited 2,633,725,455 foreign shares 2,633,725,455 Overseas listed HKSCC NOMINEES LIMITED 1,684,098,519 foreign shares 1,684,098,519 China National Aviation Corporation RMB ordinary (Group) Limited 1,556,334,920 shares 1,332,482,920 Overseas listed foreign shares 223,852,000 China Securities Finance RMB ordinary Corporation Limited 384,806,469 shares 384,806,469 China National Aviation RMB ordinary Fuel Group Corporation 84,036,388 shares 84,036,388 National Social Security RMB ordinary Fund 118 71,034,895 shares 71,034,895 China Merchants Securities RMB ordinary Co., Ltd. 34,419,032 shares 34,419,032 Sinotrans Air Transportation Development RMB ordinary Co., Ltd. 23,120,000 shares 23,120,000 RMB ordinary Jiang Hongye 23,000,000 shares 23,000,000 Explanation on connected China National Aviation Corporation relationship or action (Group) Limited is a wholly-owned in concert among the subsidiary of China National above shareholders Aviation Holding Company. Accordingly, China National Aviation Holding Company is directly and indirectly interested in 51.70% of the shares of the Company. Explanation of holders Nil of preference shares with restored voting rights and number of shares held
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 1,684,098,519 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) ( ( [2009]94 )) 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 Company, 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, the top 10 holders of preference shares and the top 10 holders of preference shares not subject to selling restrictions as at the end of the reporting period
Not applicable
3. 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
Unit: RMB'000
Items in Balance at consolidated the end of Balance at balance the reporting the beginning Amount of Percentage sheet period of the year Change (%) Reasons for Change Mainly due to the sale back of medium-term notes planned by Cash and the Group with bank 12,520,406 7,322,356 5,198,050 70.99 its own funds. Mainly due to the increase in prepayments for aviation oil during the reporting Prepayments 3,151,458 1,136,826 2,014,632 177.22 period. The impact of disposal of certain aircraft Held-for-sale held for sale during assets 1,451 918,587 (917,136) (99.84) the reporting period. Mainly due to the increase in outstanding VAT credit and other financial assets held by China National Aviation Finance Co., Ltd., a subsidiary of the Company, Other current during the reporting assets 5,186,800 3,053,370 2,133,430 69.87 period. Repayment of short-term Short-term bonds due during bonds payable 599,366 5,147,083 (4,547,717) (88.36) the reporting period. Mainly due to the increase in enterprise income taxes payable Taxes payable 2,425,669 1,361,742 1,063,927 78.13 by the Group. The impact of the amount of new loans raised being less than the amount of loans repaid Long-term during the reporting loans 8,755,600 12,835,222 (4,079,622) (31.78) period. The non-public Capital A share issue during
reserve 26,270,841 16,509,531 9,761,310 59.13 the reporting period. The decrease in exchange difference on translation of financial statements in foreign currency Other comprehensive during the reporting income (3,236,355) (2,062,598) (1,173,757) (56.91) period. For the period from the beginning For the of the corresponding year to period the end of the of the previous Items reporting year in consolidated period (January income (January to Amount Percentage statement to September) September) of Change (%) Reasons for Change Mainly due to the increase in the net exchange gain during the reporting period as compared to the corresponding Finance period of the previous expenses 66,338 4,636,962 (4,570,624) (98.57) year. Mainly due to the decrease in investment income from joint ventures and associates recognized during the reporting period as compared Investment to the corresponding period income (252,959) 518,792 (771,751) (148.76) of the previous year. For the period from the beginning For the of the corresponding year to period the end of the of the previous Items reporting year in consolidated period (January Amount cash flow (January to of Percentage statement to September) September) Change (%) Reasons for Change Mainly due to the increase in contributions made and the net amounts of financial assets held under resale agreements by China National Aviation Finance Co., Ltd., a subsidiary Other of the Company, during cash paid the reporting period as relating compared to the corresponding to operating period of the previous activities 7,809,511 5,832,000 1,977,511 33.91 year. Net cash proceeds Mainly due to the increase from disposal in cash inflows from disposal of fixed of aircraft during the assets reporting period as compared and intangible to the corresponding period assets 2,536,996 530,778 2,006,218 377.98 of the previous year. Cash paid for purchase of fixed Mainly due to the decrease assets in prepayments and balance and other payments for the purchase long-term of aircraft during the assets 10,143,733 21,208,750 (11,065,017) (52.17) reporting period. For the period from the beginning For the of the corresponding year to period the end of the of the previous Items reporting year in consolidated period (January Amount cash flow (January to of Percentage statement to September) September) Change (%) Reasons for Change Due to the decrease in bonds issued during the Cash received reporting period as compared from issue to the corresponding period of debentures 600,000 15,853,964 (15,253,964) (96.22) of the previous year. Due to the increase in new borrowings during the reporting period as compared to the corresponding Cash received period of the previous from borrowings 21,516,462 13,099,369 8,417,093 64.26 year. Due to raising capital Cash received by non-public issue of from capital shares during the reporting injection 11,201,374 - 11,201,374 100.00 period. Due to the increase in repayment of borrowings during the reporting period Cash paid as compared to the corresponding for repayment period of the previous of borrowings 25,994,065 16,634,786 9,359,279 56.26 year.
3.2 Analysis and explanation on the progress of significant events and their impact and resolutions
Not applicable
3.3 Undertakings that were failed to fulfill as scheduled during the reporting period
Not applicable
3.4 Warnings and explainations 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
Not applicable
Air China Company name Limited Legal representative Mr. Cai Jianjiang 27 October Date 2017 4. APPIX 4.1 Financial Statements
Consolidated Balance Sheet
30 September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Balance Balance at at the end the beginning of of the Items the period year CURRENT ASSETS: Cash and bank 12,520,406 7,322,356 Provisions on payables Contributions made Financial assets at fair value through profit or loss 40,351 222 Derivative financial assets Bills receivable 507 837 Accounts receivable 4,105,726 3,286,091 Prepayments 3,151,458 1,136,826 Premium receivable Receivables on reinsurance Provisions for reinsurance contracts Interest receivable Dividend receivable Other receivables 1,841,173 1,923,459 Purchase of financial assets resold Inventories 2,137,871 1,680,633 Held-for-sale assets 1,451 918,587 Non-current assets due within a year 10,000 - Other current assets 5,186,800 3,053,370 Total current assets 28,995,743 19,322,381 Balance Balance at at the end the beginning of of the Items the period year NON-CURRENT ASSETS: Loans and advances Available-for-sale financial assets 1,291,315 1,152,704 Held-to-maturity investments - 10,000 Long-term receivables 869,981 898,845 Long-term equity investments 13,794,007 15,168,760 Investment properties 324,961 337,551 Fixed assets 154,550,365 148,910,057 Construction in progress 30,422,705 29,320,914 Construction materials Disposal of fixed assets Biological assets for production Oil and gas assets Intangible assets 4,429,450 4,252,314 Development expenses Goodwill 1,102,185 1,102,185 Long-term deferred expenses 1,092,035 669,414 Deferred tax assets 2,200,934 2,983,067 Other non-current assets Total non-current assets 210,077,938 204,805,811 Total assets 239,073,681 224,128,192 CURRENT LIABILITIES: Short-term loans 15,524,160 14,488,948 Borrowings from central bank Deposits from clients and placements from other banks Contributions received Short-term bonds payable 599,366 5,147,083 Financial liabilities at fair value through profit or loss Derivative financial liabilities Bills payable Accounts payable 14,854,289 11,775,901 Domestic air traffic liabilities 2,645,353 2,933,845 International air traffic liabilities 3,586,453 3,380,091 Receipts in advance 301,142 181,050 Sale of financial assets repurchased Fees and commissions payable Employee compensations payable 2,612,703 2,191,248 Taxes payable 2,425,669 1,361,742 Interest payable 864,252 761,913 Balance Balance at at the end the beginning of of the Items the period year Dividend payable Other payables 8,705,464 8,480,453 Amounts payable on reinsurance Reserves on insurance contracts Brokerage payable Underwriting fees payable Held-for-sale liabilities Non-current liabilities due within a year 15,162,109 13,144,160 Other current liabilities Total current liabilities 67,280,960 63,846,434 NON-CURRENT LIABILITIES: Long-term loans 8,755,600 12,835,222 Debentures payable 21,498,774 24,998,024 Including: Preference shares Perpetual bonds Long-term payables 3,786,824 3,546,586 Obligations under finance leases 38,283,774 36,295,471 Defined benefit obligations 277,881 269,742 Specific payables Accrued liabilities 340,200 341,919 Deferred income 3,563,064 3,092,841 Deferred tax liabilities 940,644 2,428,313 Other non-current liabilities Total non-current liabilities 77,446,761 83,808,118 Total liabilities 144,727,721 147,654,552 Balance Balance at at the end the beginning of of the Items the period year OWNER'S EQUITY Share capital 14,524,815 13,084,751 Other equity instruments Including: Preference shares Perpetual bonds Capital reserve 26,270,841 16,509,531 Less: Treasury shares Other comprehensive income -3,236,355 -2,062,598 Specific reserves Surplus reserves 8,482,100 7,829,643 General risk provisions 66,709 66,709 Retained earnings 39,510,043 33,448,460 Total owner's equity attributable to equity shareholders of the Company 85,618,153 68,876,496 Non-controlling interests 8,727,807 7,597,144 Total owner's equity 94,345,960 76,473,640 Total liabilities and owner's equity 239,073,681 224,128,192
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Balance Sheet of the Company
30 September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Balance Balance at at the end the beginning of of the Items the period year CURRENT ASSETS: Cash and bank 8,588,632 2,221,952 Financial assets at fair value through profit or loss Derivative financial assets Bills receivable Accounts receivable 4,546,069 3,028,488 Prepayments 2,685,865 683,229 Interest receivable Dividend receivable Other receivables 2,074,987 2,449,640 Inventories 139,312 130,941 Held-for-sale assets - 917,136 Non-current assets due within a year Other current assets 1,233,958 829,828 Total current assets 19,268,823 10,261,214 NON-CURRENT ASSETS: Available-for-sale financial assets 22,783 22,784 Held-to-maturity investments Entrusted loans 1,020,000 1,020,000 Long-term receivables 453,420 470,648 Long-term equity investments 27,426,337 26,909,004 Investment properties Fixed assets 103,565,919 97,170,211 Construction in progress 21,670,613 22,939,247 Construction materials Disposal of fixed assets Biological assets for production Oil and gas assets Intangible assets 2,786,113 2,555,719 Development expenses Goodwill Long-term deferred expenses 746,283 338,712 Deferred tax assets 1,912,083 1,865,409 Other non-current assets Total non-current assets 159,603,551 153,291,734 Total assets 178,872,374 163,552,948 CURRENT LIABILITIES: Short-term loans 9,463,000 13,637,422 Short-term bonds payable Financial liabilities at fair value through profit or loss Derivative financial liabilities Bills payable Accounts payable 12,985,803 10,286,723 Domestic air traffic liabilities 1,846,882 1,904,317 International air traffic liabilities 3,192,917 3,005,001 Receipts in advance 71,500 87,372 Employee compensations payable 1,086,277 644,294 Taxes payable 1,334,945 857,313
Interest payable 725,423 644,030 Dividend payable Other payables 6,725,014 6,975,454 Held-for-sale liabilities Non-current liabilities due within a year 8,932,249 7,769,333 Other current liabilities Total current liabilities 46,364,010 45,811,259 NON-CURRENT LIABILITIES: Long-term loans 1,945,124 3,025,373 Debentures payable 20,500,000 24,000,000 Including: Preference shares Perpetual bonds Long-term payables 1,742,293 1,821,218 Obligations under finance leases 24,192,403 22,519,793 Defined benefit obligations Specific payables Accrued liabilities 6,041 7,760 Deferred income 2,992,205 2,614,384 Deferred tax liabilities - 102,654 Other non-current liabilities Total non-current liabilities 51,378,066 54,091,182 Total liabilities 97,742,076 99,902,441 Balance Balance at at the end the beginning of of the Items the period year OWNER'S EQUITY: Issued capital 14,524,815 13,084,751 Other equity instruments Including: Preference shares Perpetual bonds Capital reserve 30,618,680 20,857,370 Less: Treasury shares Other comprehensive income 221,657 198,728 Specific reserves Surplus reserves 8,444,994 7,792,537 Retained earnings 27,320,152 21,717,121 Total owner's equity 81,130,298 63,650,507 Total liabilities and owner's equity 178,872,374 163,552,948
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Consolidated Income Statement
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts Amounts for the for the period period from the from the beginning beginning of the Amounts of the previous for the year to year to corresponding the end the end Amounts period of the of the for the of the reporting last reporting period previous period period (July year (July (January (January Items to September) to September) to September) to September) I. Revenue from operations 34,840,798 31,923,192 92,995,787 85,447,650 Including: Revenue 34,840,798 31,923,192 92,995,787 85,447,650 Interest income Premium earned Fees and commission income II. Total operating costs 27,682,152 27,004,261 80,858,571 76,332,038 Including: Operating costs 25,225,103 23,109,253 72,889,066 64,269,665 Interest expenses Fees and commission expenses Returned premium Net reimbursement paid Net amounts of provisions on insurance contracts drawn Bonus paid on insurance policy Reinsurance premium Taxes and other levies 61,408 71,544 220,290 208,970 Selling expenses 1,602,751 1,388,155 4,674,386 4,239,408 General and Administrative expenses 1,028,744 1,086,437 2,984,453 2,982,468 Finance expenses -247,213 1,346,147 66,338 4,636,962 Impairment loss of assets 11,359 2,725 24,038 -5,435 Add: Gains from changes in fair value (loss is represented by "-" sign) 215 63 304 -47 Amounts Amounts for the for the period period from the from the beginning beginning of the Amounts of the previous for the year to year to corresponding the end the end Amounts period of the of the for the of the reporting last reporting period previous period period (July year (July (January (January Items to September) to September) to September) to September) Investment income (loss is represented by "-" sign) 111,062 226,216 -252,959 518,792 Including: Share of profits less losses of associates and joint ventures 94,281 208,353 -306,567 467,816 Exchange gains (loss is represented by "-" sign) Other income - - 419,589 - III. Profit from operations (loss is represented by "-" sign) 7,269,923 5,145,210 12,304,150 9,634,357 Add: Non-operating income 114,019 341,732 250,397 906,746 Including: Gains arising from disposal of non-current assets 50,060 39,561 51,461 40,569 Less: Non-operating expenses 19,445 32,790 35,293 62,025 Including: Loss arising from disposal of non-current assets 2,596 26,847 5,976 33,739 IV. Total profit (total loss is represented by "-" sign) 7,364,497 5,454,152 12,519,254 10,479,078 Less: Income Taxation 1,679,317 1,149,778 2,927,601 2,391,003 V. Net profit (net loss is represented by "-" sign) 5,685,180 4,304,374 9,591,653 8,088,075 Net profits attributable to shareholders of the Company 4,952,088 3,769,087 8,278,508 7,226,708 Net profits attributable to non-controlling interests 733,092 535,287 1,313,145 861,367 Amounts Amounts for the for the period period from the
from the beginning beginning of the Amounts of the previous for the year to year to corresponding the end the end Amounts period of the of the for the of the reporting last reporting period previous period period (July year (July (January (January Items to September) to September) to September) to September) VI. Other comprehensive income after taxation -472,893 160,320 -1,180,120 1,480,351 Other comprehensive income after taxation attributable to shareholders of the Company -449,799 148,995 -1,173,758 1,456,924 (I) Other comprehensive income that cannot be subsequently reclassified to profit or loss - - -13,441 214 1. Change arising from re-measurement of net liabilities or net assets in defined benefit plans - - -13,441 214 2. Share of other comprehensive income of the investees accounted for using the equity method that cannot be reclassified to profit or loss (II) Other comprehensive income that will be subsequently reclassified to profit or loss -449,799 148,995 -1,160,317 1,456,710 1. Share of other comprehensive income of the investees accounted for using the equity method that will be subsequently reclassified to profit or loss - - -133,787 928,326 2. Gains or losses arising from changes in fair value of available-for-sale financial assets -11,087 6,628 30,118 9,548 Amounts Amounts for the for the period period from the from the beginning beginning of the Amounts of the previous for the year to year to corresponding the end the end Amounts period of the of the for the of the reporting last reporting period previous period period (July year (July (January (January Items to September) to September) to September) to September) 3. Gains or losses arising from reclassification of held-to-maturity investments to available-for-sale financial assets 4. Effective portion of profit or loss on cash flow hedge 5. Exchange difference on translation of financial statements in foreign currency -438,712 142,367 -1,056,648 518,836 6. Others Other comprehensive income after taxation attributable to non-controlling interests -23,094 11,325 -6,362 23,427 VII. Total comprehensive income 5,212,287 4,464,694 8,411,533 9,568,426 Total comprehensive income attributable to shareholders of the Company 4,502,289 3,918,082 7,104,750 8,683,632 Total comprehensive income attributable to non-controlling interests 709,998 546,612 1,306,783 884,794 VIII. Earnings per share: (I) Basic earnings per share (RMB per share) 0.37 0.31 0.62 0.59 (II) Diluted earnings per share (RMB per share) N/A N/A N/A N/A
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Income Statement of the Company
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts Amounts for the for the period period from the from the beginning beginning of the Amounts of the previous for the year to year to corresponding the end the end Amounts period of the of the for the of the reporting last reporting period previous period period (July year (July (January (January Items to September) to September) to September) to September) I. Revenue from operations 24,076,193 21,968,535 64,060,120 58,714,178 Less: Operating costs 17,263,149 15,663,304 50,117,799 44,003,631 Taxes and other levies 18,742 10,448 84,836 54,753 Selling expenses 1,148,934 1,039,232 3,448,329 3,134,464 General and Administrative expenses 446,733 406,034 1,261,209 1,164,331 Finance expenses -19,850 990,764 403,697 3,296,035 Impairment loss of assets - - 1,991 -5,283 Add: Gains from changes in fair value (loss is represented by "-" sign) Investment income (loss is represented by "-" sign) 390,299 344,519 809,808 791,169 Including: Share of profits less losses of associates and joint ventures 386,424 342,849 638,111 656,634 Other income II. Profit from operations (loss is represented by "-" sign) 5,608,784 4,203,272 9,552,067 7,857,416 Add: Non-operating income 71,965 21,223 518,651 541,096 Including: Gains arising from disposal of non-current assets 49,826 55 50,721 169 Less: Non-operating
expenses 3,491 6,700 10,753 18,386 Including: Loss arising from disposal of non-current assets 695 3,447 1,422 7,684 Amounts Amounts for the for the period period from the from the beginning beginning of the Amounts of the previous for the year to year to corresponding the end the end Amounts period of the of the for the of the reporting last reporting period previous period period (July year (July (January (January Items to September) to September) to September) to September) III. Total profit (total loss is represented by "-" sign) 5,677,258 4,217,795 10,059,965 8,380,126 Less: Income Taxation 1,308,068 915,017 2,240,010 1,796,148 IV. Net profit (net loss is represented by "-" sign) 4,369,190 3,302,778 7,819,955 6,583,978 V. Other comprehensive income after taxation - - 22,929 8,713 (I) Other comprehensive income that cannot be subsequently reclassified to profit or loss 1. Change arising from re- measurement of net liabilities or net assets in defined benefit plans 2. Share of other comprehensive income of the investees accounted for using the equity method that cannot be reclassified to profit or loss (II) Other comprehensive income that will be subsequently reclassified to profit or loss - - 22,929 8,713 1. Share of other comprehensive income of the investees accounted for using the equity method that will be subsequently reclassified to profit or loss - - 22,929 8,713 2. Gains or losses arising from changes in fair value of available-for-sale financial assets Amounts Amounts for the for the period period from the from the beginning beginning of the Amounts of the previous for the year to year to corresponding the end the end Amounts period of the of the for the of the reporting last reporting period previous period period (July year (July (January (January Items to September) to September) to September) to September) 3. Gains or losses arising from reclassification of held-to-maturity investments to available-for-sale financial assets 4. Effective portion of profit or loss on cash flow hedge 5. Exchange difference on translation of financial statements in foreign currency 6. Others VI. Total comprehensive income 4,369,190 3,302,778 7,842,884 6,592,691 VII. Earnings per share: (I) Basic earnings per share (RMB per share) (II) Diluted earnings per share (RMB per share)
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Consolidated Cash Flow Statement
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts Amounts for the for the period period from the from the beginning beginning of the of the previous year to year to the end the end of the of the reporting last reporting period period (January (January Items to September) to September) I. Cash flows from operating activities: Cash received from sales of goods and provision of services 97,484,664 90,128,015 Net increase in deposits from clients and placements from other banks Net increase in borrowings from central bank Net increase in borrowings 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 Net increase in disposal of financial assets at fair value through profit or loss Cash received from interests, fees and commission Net increase in contributions received Net increase in cash from repurchase operations Refund of tax and levy 22,972 15,127 Other cash received relating to operating activities 2,557,310 3,103,870 Subtotal of cash inflows of operating activities 100,064,946 93,247,012 Cash paid for goods purchased and services received 52,388,593 44,932,237 Net increase in loans and advances to clients Net increase in deposits in central bank and other banks Amounts Amounts for the for the period period from the from the beginning beginning of the of the previous year to year to the end the end of the of the reporting last reporting period period (January (January Items to September) to September) Cash paid in respect of claims under original insurance contracts Cash paid for interests, fees and commission Cash paid for bonus paid on insurance policy Cash paid to or on behalf of
employees 15,770,795 14,129,026 Tax and levies paid 5,235,393 4,345,511 Other cash paid relating to operating activities 7,809,511 5,832,000 Subtotal of cash outflows from operating activities 81,204,292 69,238,774 Net cash flows from operating activities 18,860,654 24,008,238 II. Cash flows from investment activities: Cash received from sales and redemption of investments Recovery of the secured bank deposits 4,902 183,769 Cash received from investment income 218,769 494,403 Net cash proceeds from disposal of fixed assets, intangible assets and other long-term assets 2,536,996 530,778 Net cash received for acquisition of subsidiaries - 28,984 Net cash proceeds from disposal of subsidiaries and other business units Other cash received relating to investment activities 157,169 81,044 Subtotal of cash inflows from investment activities 2,917,836 1,318,978 Cash paid for purchase of fixed assets, intangible assets and other long-term assets 10,143,733 21,208,750 Cash paid for investments 118,132 96,342 Net increase in secured loans Net cash payments for acquisition of subsidiaries and other business units Other cash paid relating to investment activities 8,382 7,717 Subtotal of cash outflows from investment activities 10,270,193 21,312,809 Net cash flows from investment activities -7,352,357 -19,993,831 Amounts Amounts for the for the period period from the from the beginning beginning of the of the previous year to year to the end the end of the of the reporting last reporting period period (January (January Items to September) to September) III. Cash flows from financing activities: Cash received from capital injection 11,201,374 - Including: Cash received from capital injection of minority shareholders in subsidiaries Cash received from borrowings 21,516,462 13,099,369 Cash received from issue of debentures 600,000 15,853,964 Other cash received relating to financing activities Subtotal of cash inflows from financing activities 33,317,836 28,953,333 Cash paid for repayment of borrowings 25,994,065 16,634,786 Cash paid for repayment of debentures 5,147,717 6,304,325 Cash paid for distribution of dividends, profits or payment of interest expenses 4,184,214 3,772,622 Including: Dividends and profit paid to minority shareholders by subsidiaries 176,120 117,592 Other cash paid relating to financing activities 4,441,728 4,578,502 Subtotal of cash outflows from financing activities 39,767,724 31,290,235 Net cash flows from financing activities -6,449,888 -2,336,902 IV. Effect of exchange rate changes on cash and cash equivalents -134,197 87,729 V. Net increase in cash and cash equivalents 4,924,212 1,765,234 Add: Balance of cash and cash equivalents as at the beginning of the period 6,848,018 7,138,098 VI. Balance of cash and cash equivalents as at the end of the period 11,772,230 8,903,332
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Cash Flow Statement of the Company
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts for the Amounts for the period from period from the the beginning beginning of of the year the previous to the end year to the end of the reporting of the last reporting period (January period (January Items to September) to September) I. Cash flows from operating activities: Cash received from sales of goods and provision of services 65,256,623 60,505,240 Refund of tax and levies - 1,183 Other cash received relating to operating activities 1,975,711 1,723,740 Subtotal of cash inflows of operating activities 67,232,334 62,230,163 Cash paid for goods purchased and services received 38,521,178 32,440,751 Cash paid to or on behalf of employees 7,282,311 6,311,630 Tax and levies paid 3,211,344 2,948,135 Other cash paid relating to operating activities 4,565,204 4,184,803 Subtotal of cash outflows from operating activities 53,580,037 45,885,319 Net cash flows from operating activities 13,652,297 16,344,844 II. Cash flows from investment activities: Cash received from sales and redemption of investments Cash received from investment income 402,223 283,042 Net cash proceeds from disposal of fixed assets, intangible assets and other long-term assets 917,646 479,764 Net cash proceeds from disposal of subsidiaries and other business units Amounts for the Amounts for the period from period from the the beginning beginning of of the year the previous to the end year to the end of the reporting of the last reporting period (January period (January Items to September) to September) Other cash received relating to investment activities 82,256 51,339 Subtotal of cash inflows from investment activities 1,402,125 814,145 Cash paid for purchase of fixed assets, intangible assets and other long-term assets 5,495,017 18,409,054 Cash paid for investments Net cash payments for acquisition of subsidiaries and other business units Other cash paid relating to investment activities Subtotal of cash outflows from investment activities 5,495,017 18,409,054
Net cash flows from investment activities -4,092,892 -17,594,909 III. Cash flows from financing activities: Cash received from capital injection 11,201,374 - Cash received from borrowings 11,767,567 12,547,842 Cash received from issue of debentures - 11,200,000 Other cash received relating to financing activities Subtotal of cash inflows from financing activities 22,968,941 23,747,842 Cash paid for repayment of borrowings 19,548,222 12,897,193 Cash paid for repayment of debentures - 4,200,000 Cash paid for distribution of dividends, profits or payment of interest expenses 3,186,951 2,978,716 Other cash paid relating to financing activities 3,365,810 3,622,865 Subtotal of cash outflows from financing activities 26,100,983 23,698,774 Net cash flows from financing activities -3,132,042 49,068 Amounts for the Amounts for the period from period from the the beginning beginning of of the year the previous to the end year to the end of the reporting of the last reporting period (January period (January Items to September) to September) IV. Effect of exchange rate changes on cash and cash equivalents -60,683 39,708 V. Net increase in cash and cash equivalents 6,366,680 -1,161,289 Add: Balance of cash and cash equivalents as at the beginning of the period 2,221,952 3,223,977 VI. Balance of cash and cash equivalents as at the end of the period 8,588,632 2,062,688
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
4.2 Auditor's Report
Not applicable
By order of the Board
Air China Limited
Zhou Feng Tam Shuit Mui
Joint Company Secretaries
Beijing, the PRC, 27 October 2017
As at the date of this announcement, the directors of the Company are Mr. Cai Jianjiang, Mr. Song Zhiyong, Mr. John Robert Slosar, Mr. Wang Xiaokang*, Mr. Liu Deheng*, Mr. Stanley Hui Hon-chung* and Mr. Li Dajin*.
* Independent non-executive director of the Company
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
October 30, 2017 03:00 ET (07:00 GMT)
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