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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 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Air Transport, Scheduled | 140.73B | -1.05B | -0.2112 | -3.73 | 3.91B |
From Apr 2019 to Apr 2024
TIDMAIRC
RNS Number : 7911F
Air China Ld
31 October 2018
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 2018
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 30 October 2018 and passed the resolution approving the third quarterly report 2018 of the Company for the nine months ended 30 September 2018 (the "Reporting Period" or "Period") 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.
Hot Features
Premium
1.2 Particulars of absent directors
Position of Reason(s) for
Name of absent director absent director absence Name of proxy
John Robert Slosar Director Business engagement Cai Jianjiang
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 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 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
At the end of At the end of as compared to
the the the end of the
Reporting Period previous year previous year
(%)
Total assets 252,579,331 235,717,816 7.15
Net asset attributable
to shareholders of
the listed company 93,932,818 86,120,794 9.07
For the period
from the
beginning of the For the
year to the corresponding Increase/decrease
end of the period of the as compared to
Reporting Period previous year the corresponding
(January to (January to period of the
September) September) previous year
(%)
Net cash flows from
operating activities 24,614,813 18,860,654 30.51
For the period
from the
beginning of the For the
year to the corresponding Increase/decrease
end of the period of the as compared to
Reporting Period previous year the corresponding
(January to (January to period of the
September) September) previous year
(%)
Revenue 102,880,095 91,782,079 12.09
Net profit attributable
to shareholders of
the listed company 6,937,408 8,278,508 -16.20
Net profit attributable
to shareholders of
the listed company
after deducting non-recurring
profits and losses 6,526,228 8,150,110 -19.92
Weighted average return Decrease by
on net assets (%) 7.68 10.34 2.66 ppts
Basic earnings per
share (RMB per share) 0.51 0.62 -17.74
Diluted earnings per
share (RMB per share) N/A N/A -
Non-recurring profits and losses
GBP Applicable þ Not applicable
Unit: RMB'000
Amounts for
the period from
the beginning
of the year to
Amounts for the end of the
the Period Reporting Period
(July to (January to
Items September) September)
Gains or losses on disposal of non-current
assets 6,347 75,606
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 unified standard quota or amount
under the government policy) 96,167 310,531
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) -3,273 4,879
Reversal of provision for impairment
of receivables which are individually
tested for impairment 100,000 289,635
Other non-operating income and expenses
not covered above -29,232 -11,792
Profit or loss on disposal of long-term
equity investments 0 161,894
Effect of non-controlling shareholders'
interests (after taxation) -50,118 -211,882
Effect of income tax -42,260 -207,691
Total 77,631 411,180
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 169,527
Particulars of the top 10 shareholders
Shares pledged
or frozen
Number of
shares held Number
as of shares
at the end held subject Nature
Name of shareholder of Shareholding to selling of
(full name) the Period percentage restrictions Status Number shareholder
(%)
China National Aviation
Holding Corporation State-owned
Limited 5,952,236,697 40.98 513,478,818 Frozen 127,445,536 legal person
Cathay Pacific Airways Foreign
Limited 2,633,725,455 18.13 0 Nil 0 legal person
Foreign
HKSCC NOMINEES LIMITED 1,687,732,499 11.62 0 Unknown legal person
China National Aviation
Corporation (Group) Foreign
Limited 1,556,334,920 10.72 0 Frozen 36,454,464 legal person
China National Aviation State-owned
Fuel Group Corporation 468,485,702 3.23 0 Nil 0 legal person
China Securities Finance State-owned
Corporation Limited 310,201,830 2.14 0 Nil 0 legal person
Zhongyuan Equity Investment State-owned
Management Co., Ltd. 256,739,405 1.77 0 Unknown 256,739,405 legal person
China Structural Reform State-owned
Fund Co., Ltd. 115,565,509 0.80 0 Nil 0 legal person
National Social Security State-owned
Fund 118 58,964,678 0.41 0 Nil 0 legal person
Hong Kong Securities Foreign
Clearing Company Ltd. 49,292,604 0.34 0 Unknown 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 Corporation Limited 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 1,687,732,499 foreign shares 1,687,732,499
China National Aviation RMB ordinary
Corporation (Group) Limited 1,556,334,920 shares 1,332,482,920
Overseas listed
foreign shares 223,852,000
China National Aviation RMB ordinary
Fuel Group Corporation 468,485,702 shares 468,485,702
China Securities Finance RMB ordinary
Corporation Limited 310,201,830 shares 310,201,830
Zhongyuan Equity Investment RMB ordinary
Management Co., Ltd. 256,739,405 shares 256,739,405
China Structural Reform RMB ordinary
Fund Co., Ltd. 115,565,509 shares 115,565,509
National Social Security RMB ordinary
Fund 118 58,964,678 shares 58,964,678
Hong Kong Securities Clearing RMB ordinary
Company Ltd. 49,292,604 shares 49,292,604
Explanation on connected China National Aviation Corporation (Group)
relationship or action Limited is a wholly-owned subsidiary
in concert among the above of China National Aviation Holding Corporation
shareholders Limited. Accordingly, China National
Aviation Holding Corporation Limited
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 1,687,732,499 H shares held by it in the Company do not include the 166,852,000 H 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 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, 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
GBP Applicable þ 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
GBP Applicable þ Not applicable
Unit: RMB'000
Balance
at Balance
the end at
of the end
the of
Items in consolidated Reporting the previous Amount of Reasons for
balance sheet Period year Change Percentage Change
(%)
Mainly due to
the relatively
abundant cash
flows of the
Group in the
Cash and bank 9,645,275 6,260,074 3,385,201 54.08 peak season
Mainly due to
Bills receivable the impact of
and accounts the increase
receivable 5,247,723 3,490,775 1,756,948 50.33 in sales volume
Mainly due to
the decrease
in prepayments
for jet fuel
Prepayments 1,301,803 3,113,262 -1,811,459 -58.19 during the Period
Mainly due to
the increase
in airplane
consumable and
Inventories 2,523,405 1,535,769 987,636 64.31 work-in-process
Mainly due to
the disposal
of certain aircraft
Held-for-sale held for sale
assets 32,689 283,562 -250,873 -88.47 during the Period
Mainly due to
the issue of
ultra-short-term
commercial papers
Short-term bonds by the Group
payable 3,384,130 1,199,450 2,184,680 182.14 during the Period
Mainly due to
the enterprise
income taxes
paid by the
Group during
Taxes payable 1,625,701 2,361,253 -735,552 -31.15 the Period
Mainly due to
the impact of
the amount of
new loans raised
being less than
the amount of
loans repaid
Long-term loans 4,792,769 7,608,289 -2,815,520 -37.01 during the Period
Mainly due to
the increase
in exchange
difference on
translation
of financial
statements in
Other comprehensive foreign currency
income 151,074 -1,693,743 1,844,817 108.92 during the Period
For the
period from
the
beginning
of the year For the
to the end corresponding
of the period of
Reporting the previous
Period year
(January (January
Items in consolidated to to Amount of Reasons for
income statement September) September) Change Percentage Change
(%)
Mainly due to
the increase
in the net exchange
loss during
the Reporting
Period as compared
to the corresponding
period of the
Finance expenses 4,522,277 66,338 4,455,939 6,717.02 previous year
Mainly due to
the increase
in the net profit
of the Group's
associates as
compared to
the corresponding
period of the
Investment income 974,517 -252,959 1,227,476 485.25 previous year
Mainly due to
the decrease
in taxable income
during the Reporting
Period as compared
to the corresponding
period of the
Income taxation 1,947,312 2,927,601 -980,289 -33.48 previous year
For the
period from
the
beginning
of the year For the
to the end corresponding
of the period of
Reporting the previous
Period year
(January (January
Items in consolidated to to Amount of Reasons for
cash flow statement September) September) Change Percentage Change
(%)
Mainly due to
the year-on-year
increase in
the Group's
revenue from
Other cash received non-principal
relating to operating businesses during
activities 5,017,851 3,771,018 1,246,833 33.06 the Period
Mainly due to
the year-on-year
Net cash proceeds decrease in
from disposal cash inflows
of fixed assets from disposal
and intangible of aircraft
assets 367,240 2,536,996 -2,169,75 -85.52 during the Period
Mainly due to
the year-on-year
Cash received increase in
from issue of issue of debentures
debentures 6,100,000 600,000 5,500,000 916.67 during the Period
Mainly due to
the year-on-year
increase in
repayment of
the amount payable
under the finance
Cash paid under lease during
the finance lease 5,791,932 4,441,728 1,350,204 30.40 the Period
3.2 Analysis and explanation on the progress of significant events and their impact and resolutions
GBP Applicable þ Not applicable
On 30 August 2018, upon approval at the seventh meeting of the fifth session of the Board of the Company, the Company entered into an equity transfer agreement with China National Aviation Capital Holding Co., Ltd., a controlling subsidiary of China National Aviation Holding Corporation Limited. Pursuant to the agreement, the Company has conditionally agreed to sell and Capital Holding has conditionally agreed to purchase 51% equity interests in Air China Cargo at a consideration of RMB2,438,837,520. Upon completion of the Disposal, Air China Cargo will cease to be a controlling subsidiary of the Company. The Disposal has been approved at the 2018 first extraordinary general meeting of the Company on 19 October 2018.
3.3 Undertakings that were failed to fulfil as scheduled during the Reporting Period
GBP Applicable þ 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
GBP Applicable þ Not applicable
4. APPIX 4.1 Financial Statements
CONSOLIDATED BALANCE SHEET
30 September 2018
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Balance at
Balance the end of
at the end the previous
Items of the Period year
CURRENT ASSETS:
Cash and bank 9,645,275 6,260,074
Provisions on payables
Contributions made
Financial assets held-for-trading 124,363 -
Financial assets at fair value through
profit or loss - 19,938
Derivative financial assets
Bills receivable and accounts receivable 5,247,723 3,490,775
Including: Bills receivable 224 348
Accounts receivable 5,247,499 3,490,427
Prepayments 1,301,803 3,113,262
Premium receivable
Receivables on reinsurance
Provisions for reinsurance contracts Other receivables 1,878,196 2,009,253 Including: Interest receivable Dividend receivable Purchase of financial assets resold Inventories 2,523,405 1,535,769 Contract assets Held-for-sale assets 32,689 283,562 Non-current assets due within a year - 10,000 Other current assets 5,173,830 4,036,700 Total current assets 25,927,284 20,759,333 NON-CURRENT ASSETS: Loans and advances Available-for-sale financial assets - 1,336,996 Debt investments Other debt investments 856,377 - Long-term receivables 809,181 784,339 Long-term equity investments 17,702,969 15,299,017 Investments in other equity instruments 273,489 - Other non-current financial assets Investment properties 338,907 330,768 Fixed assets 165,411,815 158,274,275 Construction in progress 32,942,101 30,340,891 Biological assets for production Oil and gas assets Intangible assets 4,022,614 4,400,762 Development expenses Goodwill 1,102,185 1,102,185 Long-term deferred expenses 641,480 657,364 Deferred tax assets 2,550,929 2,431,886 Other non-current assets Total non-current assets 226,652,047 214,958,483 Total assets 252,579,331 235,717,816 CURRENT LIABILITIES: Short-term loans 20,541,112 19,483,625 Short-term bonds payable 3,384,130 1,199,450 Borrowings from central bank Deposits from clients and placements from other banks Contributions received Financial liabilities held-for-trading Derivative financial liabilities Bills payable and accounts payable 15,994,716 14,672,242 Domestic air traffic liabilities 2,727,336 2,565,696 International air traffic liabilities 5,459,649 4,840,061 Receipts in advance - 518,413 Contract liabilities 951,822 - Sale of financial assets repurchased Fees and commissions payable Employee compensations payable 3,292,383 2,533,032 Taxes payable 1,625,701 2,361,253 Other payables 9,029,597 8,581,663 Including: Interest payable 667,519 610,089 Dividend payable Amounts payable on reinsurance Reserves on insurance contracts Brokerage payable Underwriting fees payable Held-for-sale liabilities Non-current liabilities due within a year 14,725,364 14,999,650 Other current liabilities Total current liabilities 77,731,810 71,755,085 NON-CURRENT LIABILITIES: Long-term loans 4,792,769 7,608,289 Debentures payable 12,400,000 14,500,000 Including: Preference shares Perpetual bonds Long-term payables 4,255,477 3,669,405 Obligations under finance leases 44,509,051 37,798,582 Defined benefit obligations 263,424 263,575 Accrued liabilities 473,524 492,869 Deferred income 706,633 3,568,127 Deferred tax liabilities 813,135 1,130,054 Other non-current liabilities 3,344,922 - Total non-current liabilities 71,558,935 69,030,901 Total liabilities 149,290,745 140,785,986 OWNER'S EQUITY (OR SHAREHOLDER'S EQUITY) Paid-up capital (or share capital) 14,524,815 14,524,815 Other equity instruments Including: Preference shares Perpetual bonds Capital reserve 26,270,841 26,270,841 Less: Treasury shares Other comprehensive income 151,074 -1,693,743 Specific reserves Surplus reserves 9,873,710 9,177,905 General risk provisions 69,742 69,742 Retained earnings 43,042,636 37,771,234 Total owner's equity attributable to equity shareholders of the Company 93,932,818 86,120,794 Non-controlling interests 9,355,768 8,811,036 Total owner's equity (or shareholder's equity) 103,288,586 94,931,830 Total liabilities and owner's equity (or shareholder's equity) 252,579,331 235,717,816
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 2018
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Balance at
Balance the end of
at the end the previous
Items of the Period year
CURRENT ASSETS:
Cash and bank 6,315,690 3,172,520
Financial assets held-for-trading
Derivative financial assets
Bills receivable and accounts receivable 6,119,021 3,534,850
Including: Bills receivable
Accounts receivable
Prepayments 840,465 2,612,939
Other receivables 1,961,951 1,913,843
Including: Interest receivable
Dividend receivable
Inventories 217,325 97,900
Contract assets
Held-for-sale assets 32,689 283,562
Non-current assets due within a year
Other current assets 2,100,209 1,173,376
Total current assets 17,587,350 12,788,990
NON-CURRENT ASSETS:
Available-for-sale financial assets - 22,783
Entrusted loans - 1,020,000
Debt investments
Other debt investments
Long-term receivables 470,982 449,913
Long-term equity investments 27,823,169 27,325,997
Investments in other equity instruments 22,783 -
Other non-current financial assets
Investment properties
Fixed assets 110,780,006 106,694,613
Construction in progress 22,900,263 20,856,626
Biological assets for production
Oil and gas assets
Intangible assets 2,695,771 2,758,672
Development expenses
Goodwill
Long-term deferred expenses 297,824 312,285
Deferred tax assets 2,152,716 2,034,870
Other non-current assets
Total non-current assets 167,143,514 161,475,759
Total assets 184,730,864 174,264,749
CURRENT LIABILITIES:
Short-term loans 13,296,000 11,538,000
Financial liabilities held-for-trading
Derivative financial liabilities
Bills payable and accounts payable 13,555,331 11,975,550
Domestic air traffic liabilities 1,948,391 1,821,334
International air traffic liabilities 4,951,776 4,455,368
Receipts in advance - 183,194
Contract liabilities 399,501 -
Employee compensations payable 1,362,158 852,023
Taxes payable 1,122,370 1,118,137
Other payables 8,312,667 8,279,541
Including: Interest payable 472,004 542,539
Dividend payable
Held-for-sale liabilities
Non-current liabilities due within a year 9,823,659 8,738,784
Other current liabilities
Total current liabilities 54,771,853 48,961,931
NON-CURRENT LIABILITIES:
Long-term loans 1,522,623 1,871,198
Debentures payable 10,500,000 14,500,000
Including: Preference shares
Perpetual bonds
Long-term payables 2,104,953 1,928,023
Obligations under finance leases 27,354,750 23,643,577
Defined benefit obligations
Accrued liabilities 132,280 158,711
Deferred income 380,166 2,935,541
Deferred tax liabilities
Other non-current liabilities 2,968,426 -
Total non-current liabilities 44,963,198 45,037,050
Total liabilities 99,735,051 93,998,981
OWNER'S EQUITY (OR SHAREHOLDER'S
EQUITY)
Paid-up capital (or share capital) 14,524,815 14,524,815
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 30,618,680 30,618,680
Less: Treasury shares
Other comprehensive income 217,593 219,029
Specific reserves
Surplus reserves 9,836,604 9,140,799
Retained earnings 29,798,121 25,762,445
Total owner's equity (or shareholder's
equity) 84,995,813 80,265,768
Total liabilities and owner's equity
(or shareholder's equity) 184,730,864 174,264,749
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 2018
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts
Amounts for
for the period
the period from the
from the beginning
beginning of
of the previous
the year year to
Amounts to the
for the the end end of the
corresponding of previous
Amounts period of the Reporting Reporting
for the previous Period Period
the Period year (July (January (January
(July to to to to
Items September) September) September) September)
I. Revenue from operations 38,637,773 34,401,461 102,880,095 91,782,079
Including: Revenue 38,637,773 34,401,461 102,880,095 91,782,079
Interest income
Premium earned
Fees and commission income
II. Total operating costs 35,240,204 27,682,153 96,633,464 80,858,572
Including: Operating costs 29,817,131 25,220,307 84,069,227 72,874,900
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 53,054 61,408 163,086 220,290
Selling expenses 1,687,850 1,602,723 4,750,436 4,674,358
General and administrative
expenses 1,141,159 1,015,313 3,351,877 2,944,291
R&D expenses 20,743 18,256 61,250 54,357
Finance expenses 2,622,059 -247,213 4,522,277 66,338
Including: Interest expenses 762,271 704,144 2,132,416 2,296,554
Interest income 52,408 59,935 112,090 149,641
Impairment loss of assets - 11,359 440 24,038
Impairment loss of credit -101,792 - -285,129 -
Add: Other income 607,764 479,940 2,287,680 1,762,871
Investment income (loss is
represented by "-" sign) 596,386 111,062 974,517 -252,959
Including:
Share of profits or losses
of associates and joint ventures 579,678 94,281 772,454 -306,567
Gains from net exposure to
hedging (loss is represented
by "-" sign)
Gains from changes in fair
value (loss is represented
by "-" sign) -1,735 215 323 304
Gains from disposal of assets
(loss is represented by "-"
sign) 12,074 48,376 84,258 48,591
Exchange gains (loss is represented
by "-" sign)
III. Profit from operations
(loss is represented by "-"
sign) 4,612,058 7,358,901 9,593,409 12,482,314
Add: Non-operating income 25,776 23,609 59,023 70,196
Including:
Gains arising from disposal
of non-current assets 237 251 1,303 832
Less: Non-operating expenses 60,736 18,013 79,467 33,256
Including:
Loss arising from disposal
of non-current assets 5,964 1,164 9,955 3,939
IV. Total profit (total loss
is represented by "-" sign) 4,577,098 7,364,497 9,572,965 12,519,254
Less: Income taxation 848,305 1,679,317 1,947,312 2,927,601
V. Net profit (net loss is
represented by "-" sign) 3,728,793 5,685,180 7,625,653 9,591,653
(I) Classified by continuity
of operations
1. Net profit from continuing
operations (net loss is represented
by "-" sign) 3,728,793 5,685,180 7,625,653 9,591,653
2. Net profit from discontinued
operations (net loss is represented
by "-" sign)
(II) Classified by ownership
of equity
1. Net profits attributable
to shareholders of the Company 3,468,889 4,952,088 6,937,408 8,278,508
2. Net profits attributable
to non-controlling interests 259,904 733,092 688,245 1,313,145
VI. Other comprehensive income
after taxation 972,599 -472,893 2,066,810 -1,180,120
Other comprehensive income
after taxation attributable
to shareholders of the Company 949,055 -449,799 2,042,501 -1,173,758
(I) Other comprehensive income
that
cannot be reclassified to
profit or
loss -6,634 - -18,377 -13,441
1. Changes arising on remeasurement
of defined benefit plans - - -6,022 -13,441
2. Other comprehensive income
accounted for using the equity
method that cannot be reclassified
to profit or loss - - -1,436 -
3. Change in fair value of
investments in other equity
instruments -6,634 - -10,919 -
4. Change in fair value of
own credit risk
(II) Other comprehensive income
that will
be reclassified to profit
or loss 955,689 -449,799 2,060,878 -1,160,317
1. Other comprehensive income
accounted for using the equity
method that may be reclassified
to profit or loss 20,544 - 956,874 -133,787
2. Change in fair value of
other debt investments 2,784 - 4,791 -
3. Amount included in other
comprehensive income on reclassification
of financial assets
4. Provision for credit impairment
of other debt investments
5. Cash flows hedging reserve
6. Exchange difference on
translation of financial statements
in foreign currency 932,361 -438,712 1,099,213 -1,056,648
7. Fair value gain or loss
of available-for-sale financial
assets - -11,087 - 30,118
Other comprehensive income
after taxation attributable
to non-controlling interests 23,544 -23,094 24,309 -6,362
VII. Total comprehensive income 4,701,392 5,212,287 9,692,463 8,411,533
Total comprehensive income
attributable to shareholders
of the Company 4,417,944 4,502,289 8,979,909 7,104,750
Total comprehensive income
attributable to non-controlling
interests 283,448 709,998 712,554 1,306,783
VIII. Earnings per share:
(I) Basic earnings per share
(RMB per
share) 0.26 0.37 0.51 0.62
(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 2018
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts
Amounts for
for the period
the period from the
from the beginning
beginning of
of the previous
Amounts the year year to
for the to the
corresponding the end end of the
Amounts period of of previous
for the previous the Reporting Reporting
the Period year (July Period Period
(July to to (January- (January-
Items September) September) September) September)
I. Revenue from operations 26,603,234 23,784,535 70,085,373 63,148,234
Less: Operating costs 20,425,043 17,263,149 57,259,408 50,117,799
Taxes and other levies 18,324 18,742 56,669 84,836
Selling expenses 1,263,580 1,148,934 3,577,571 3,448,329
General and administrative
expenses 440,221 435,480 1,282,913 1,224,923
R&D expenses 11,881 11,254 36,964 36,286
Finance expenses 1,529,253 -19,850 2,743,035 403,697
Including: Interest expenses 492,692 505,779 1,406,457 1,643,872
Interest income 44,282 37,567 87,474 82,256
Impairment loss of assets - - - 1,991
Impairment loss of credit - - 3,616 -
Add: Other income 337,060 310,641 1,548,136 1,370,765
Investment income (loss is
represented by "-" sign) 409,883 390,299 894,755 809,808
Including: Share of profits
or losses of associates and
joint ventures 373,456 386,424 707,040 638,111
Gains from net exposure to
hedging (loss is represented
by "-" sign)
Gains from changes in fair
value (loss is represented
by "-" sign)
Income from disposal of assets
(loss is represented by "-"
sign) 2,928 49,546 74,962 49,761
II. Profit from operations
(loss is represented by "-"
sign) 3,664,803 5,677,312 7,643,050 10,060,707
Add: Non-operating income 6,852 3,175 11,210 9,144
Including: Gains arising from
disposal of non-current assets 75 17 938 92
Less: Non-operating expenses 8,691 3,229 15,691 9,886
Including: Loss arising from
disposal of non-current assets 4,273 433 6,140 555
III. Total profit (total loss
is represented by "-" sign) 3,662,964 5,677,258 7,638,569 10,059,965
Less: Income Taxation 769,552 1,308,068 1,591,806 2,240,010
IV. Net profit (net loss is
represented by "-" sign) 2,893,412 4,369,190 6,046,763 7,819,955
(I) Net profit from continuing
operations
(net loss is represented
by "-" sign) 2,893,412 4,369,190 6,046,763 7,819,955
(II) Net profit from discontinued
operations
(net loss is represented
by "-" sign)
V. Other comprehensive income
after taxation - - -1,436 22,929
(I) Other comprehensive income
that
cannot be subsequently reclassified
to profit or loss - - -1,436 -
1. Change arising from re-measurement
of defined benefit plans
2. Other comprehensive income
accounted for using the equity
method that cannot be reclassified
to profit or loss - - -1,436 -
3. Changes in fair value of
investment in other equity
instruments
4. Changes in fair value of
enterprise's own credit risk
(II) Other comprehensive income
that will
be reclassified to profit
or loss - - - 22,929
1. Other comprehensive income
accounted for using the equity
method that can be reclassified
to profit or loss - - - 22,929
2. Change in fair value of
other debt investments
3. Amount of financial assets
reclassified into other comprehensive
income
4. Credit impairment reserve
for other debt investment
5. Reserve for cash flow hedging
6. Differences on translation
of foreign currency financial
statements
VI. Total comprehensive income 2,893,412 4,369,190 6,045,327 7,842,884
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 2018
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts for
the period
Amounts for from the
the period beginning of
from the the previous
beginning of year to the
the year to end of the
the end of previous
the Reporting Reporting
Period Period
(January- (January-
Items September) September)
I. Cash flows from operating activities:
Cash received from sales of goods and
provision of services 107,714,571 96,270,956
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 90,838 22,972
Other cash received relating to operating
activities 5,017,851 3,771,018
Subtotal of cash inflows of operating
activities 112,823,260 100,064,946
Cash paid for goods purchased and services
received 59,752,837 52,388,593
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
Cash paid for interests, fees and commission
Cash paid for bonus paid on insurance
policy
Cash paid to or on behalf of employees 17,185,580 15,770,795
Tax and levies paid 5,636,907 5,235,393
Other cash paid relating to operating
activities 5,633,123 7,809,511
Subtotal of cash outflows from operating
activities 88,208,447 81,204,292
Net cash flows from operating activities 24,614,813 18,860,654
II. Cash flows from investment activities:
Cash received from sales and redemption
of investments 275,897 -
Recovery of the secured bank deposits 7,477 4,902
Cash received from investment income 250,081 218,769
Net cash proceeds from disposal of fixed
assets, intangible assets and other long-term
assets 367,240 2,536,996
Net cash proceeds from disposal of subsidiaries
and other business units
Other cash received relating to investment
activities 150,454 157,169
Subtotal of cash inflows from investment
activities 1,051,149 2,917,836
Cash paid for purchase of fixed assets,
intangible assets and other long-term
assets 10,020,140 10,143,733
Cash paid for investments 178,904 118,132
Net increase in secured loans
Net cash payments for acquisition of subsidiaries
and other business units
Other cash paid relating to investment
activities 177,632 8,328
Subtotal of cash outflows from investment
activities 10,376,676 10,270,193
Net cash flows from investment activities -9,325,527 -7,352,357
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 27,706,042 21,516,462
Cash received from issue of debentures 6,100,000 600,000
Other cash received relating to financing
activities
Subtotal of cash inflows from financing
activities 33,806,042 33,317,836
Cash paid for repayment of borrowings 30,496,786 25,994,065
Cash paid for repayment of debentures 5,500,000 5,147,717
Cash paid for distribution of dividends,
profits or payment of interest expenses 4,403,925 4,184,214
Including: Dividends and profits paid
to minority shareholders by subsidiaries 185,043 176,120
Cash paid under the finance lease 5,791,932 4,441,728
Other cash paid relating to financing
activities
Subtotal of cash outflows from financing
activities 46,192,643 39,767,724
Net cash flows from financing activities -12,386,601 -6,449,888
IV. Effect of exchange rate changes on
cash and cash equivalents 107,569 -134,197
V. Net increase in cash and cash equivalents 3,010,254 4,924,212
Add: Balance of cash and cash equivalents
as at the
beginning of the period 5,562,907 6,848,018
VI. Balance of cash and cash equivalents
as at the end of the period 8,573,161 11,772,230
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 2018
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts for
the period
Amounts for from the
the period beginning of
from the the previous
beginning of year to the
the year to end of the
the end of previous
the Reporting Reporting
Period Period
(January- (January-
Items September) September)
I. Cash flows from operating activities:
Cash received from sales of goods and
provision of services 71,119,564 64,344,737
Refund of tax and levy
Other cash received relating to operating
activities 3,422,622 2,887,597
Subtotal of cash inflows of operating
activities 74,542,186 67,232,334
Cash paid for goods purchased and services
received 41,569,413 38,521,178
Cash paid to or on behalf of employees 8,036,437 7,282,311
Tax and levies paid 3,187,847 3,211,344
Other cash paid relating to operating
activities 4,593,937 4,565,204
Subtotal of cash outflows from operating
activities 57,387,634 53,580,037
Net cash flows from operating activities 17,154,552 13,652,297
II. Cash flows from investment activities:
Cash received from sales and redemption
of investments 1,020,000 -
Cash received from investment income 328,820 402,223
Net cash proceeds from disposal of fixed
assets, intangible assets and other long-term
assets 1,041,554 917,646
Net cash proceeds from disposal of subsidiaries
and other business units
Other cash received relating to investment
activities 91,128 82,256
Subtotal of cash inflows from investment
activities 2,481,502 1,402,125
Cash paid for purchase of fixed assets,
intangible assets and other long-term
assets 7,951,473 5,495,017
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 7,951,473 5,495,017
Net cash flows from investment activities -5,469,971 -4,092,892
III. Cash flows from financing activities:
Cash received from capital injection - 11,201,374
Cash received from borrowings 21,088,936 11,767,567
Cash received from issue of bonds
Other cash received relating to financing
activities
Subtotal of cash inflows from financing
activities 21,088,936 22,968,941
Cash paid for repayment of borrowings 18,558,918 19,548,222
Cash paid for repayment of debentures 3,500,000 -
Cash paid for distribution of dividends,
profits or payment of interest expenses 3,330,452 3,186,951
Other cash paid relating to financing
activities 4,268,662 3,365,810
Subtotal of cash outflows from financing
activities 29,658,032 26,100,983
Net cash flows from financing activities -8,569,096 -3,132,042
IV. Effect of exchange rate changes on
cash and cash equivalents 27,685 -60,683
V. Net increase in cash and cash equivalents 3,143,170 6,366,680
Add: Balance of cash and cash equivalents
as at
the beginning of the period 3,172,520 2,221,952
VI. Balance of cash and cash equivalents
as at the end of the period 6,315,690 8,588,632
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
GBP Applicable þ Not applicable
By Order of the Board
Air China Limited
Zhou Feng Tam Shuit Mui
Joint Company Secretaries
Beijing, the PRC, 30 October 2018
As at the date of this announcement, the directors of the Company are Mr. Cai Jianjiang, Mr. Song Zhiyong, Mr. Xue Yasong, 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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October 31, 2018 03:00 ET (07:00 GMT)
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