TIDMAIRC
RNS Number : 5252R
Air China Ld
27 October 2023
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 OF 2023
This announcement is made pursuant to Part XIVA of the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong) and Rule 13.09 and Rule 13.10B of the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong
Limited.
The board of directors (the "Board") of Air China Limited (the
"Company" or "Air China", the Company together with its
subsidiaries, the "Group") held a meeting of the Board on 26
October 2023 and passed the resolution approving the third
quarterly report of 2023 (the "Quarterly Report") of the Company
for the period ended 30 September 2023 prepared in accordance with
the PRC Accounting Standards for Business Enterprises.
IMPORTANT NOTICE:
The Board and the supervisory committee of the Company together
with the directors, supervisors and the senior management of the
Company guarantee that the contents of the Quarterly Report are
true, accurate and complete and do not contain any false
representation, misleading statement or material omission, and
shall jointly and severally accept legal liability.
The person in charge of the Company, person in charge of
accounting function and person in charge of accounting department
(accounting superintendent) hereby guarantee that the financial
information set out in the Quarterly Report is true, accurate and
complete.
Whether the financial statements of the third quarter are
audited
Yes No
I. MAJOR FINANCIAL DATA
(1) Major accounting data and financial indicators
Unit: RMB'000
Increase/
decrease for
the period
Increase/ from the
decrease of beginning
the Reporting of the year
Period as For the to the end
compared to period of the
the from the Reporting
corresponding beginning Period as
The Reporting period of the of the compared to
Items Period previous year year the
(%) to the corresponding
end period of the
of the previous year
Reporting (%)
Period
Revenue 45,863,652 152.89 105,476,845 150.61
--------------- ------------------------- ------------------------- ------------------------
Net profit
attributable
to shareholders
of the listed
company 4,242,149 N/A 791,421 N/A
--------------- ------------------------- ------------------------- ------------------------
Net profit
attributable
to shareholders
of the listed
company
after
deducting
non-recurring
profits and losses 4,065,035 N/A - 873,124 N/A
--------------- ------------------------- ------------------------- ------------------------
Net cash flows N/A N/A 33,075,596 N/A
from operating
activities
--------------- ------------------------- ------------------------- ------------------------
Basic earnings
per share (RMB
per share) 0.28 N/A 0.05 N/A
--------------- ------------------------- ------------------------- ------------------------
Diluted earnings N/A N/A N/A N/A
per share (RMB
per share)
--------------- ------------------------- ------------------------- ------------------------
Weighted average Increased by Increased by
return on net assets 33.67 percentage 60.26 percentage
(%) 11.46 points 2.05 points
--------------- ------------------------- ------------------------- ------------------------
Increase/
decrease at
the end of
the Reporting
Period as
At the end At the end compared to
of the Reporting of the previous the end of
Period year the previous
year
(%)
Total assets 338,864,552 295,011,335 14.86
==================== ==================== =======================
Owners' equity attributable
to shareholders of the listed
company 39,061,556 23,609,134 65.45
==================== ==================== =======================
Note: The "Reporting Period" refers to the 3-month period from
the beginning of this quarter to the end of this quarter, the same
below.
(2) Items and amounts of non-recurring profits and losses
Unit: RMB'000
Amounts for
the period
from the beginning
Amounts for of the year
the Reporting to the end
Items Period of the Reporting
Period
Gains or losses on disposal of non-current
assets - 143 673,841
=================== =======================
Government subsidies recorded in the income
statement for the current period (excluding
those closely related to the Company's normal
business and continuously entitled to in
fixed amounts or quotas in accordance with
the requirements of the state policy) 166.389 334.398
=================== =======================
Gain or loss from change in fair value by
holding financial assets held-for-trading,
derivative financial assets, financial liabilities
held-for-trading and derivative financial
liabilities, and investment
income from disposal of financial assets
held-for-trading, derivative financial assets,
financial liabilities held-for-trading and
derivative financial liabilities as well
as other debt investments, excluding the
effective hedging businesses related to
the normal operations of the
Company - 61 814
=================== =======================
Reversal of provision for impairment of
receivable and contract assets that have
undergone impairment test alone 215 3,559
=================== =======================
Other non-operating income and expenses
besides the above items 56,633 1,386,883
=================== =======================
Less: Effect of income tax 2,587 80,371
=================== =======================
Effect of non-controlling interests (after
tax) 43,322 654,579
====================================================== =================== =======================
Total 177,114 1,664,545
=================== =======================
Explanation of non-recurring profits and losses items listed in
the "Interpretative Announcement for Information Disclosure of
Companies That Issue Securities to the Public No.1 - Non-recurring
Profits and Losses" ( 1 ) which are defined as recurring profits
and losses items
Applicable Not applicable
(3) Changes of major accounting data and financial indicators and reasons for changes
Applicable Not applicable
Percentage
Items of Change (%) Major Reasons
Revenue 150.61 With the increase in deployment
of transportation capacity by
the Company, and driven by the
increase in both passenger load
factor and price, the revenue
increased significantly
======================= =========================================
Net profit attributable N/A With the increase in deployment
to shareholders of of transportation capacity by
the listed company the Company, and driven by the
increase in both passenger load
factor and price, the loss decreased
significantly with a growth in
profit
======================= =========================================
Net profit attributable N/A With the increase in deployment
to shareholders of of transportation capacity by
the listed company the Company, and driven by the
after deducting non-recurring increase in both passenger load
profits and losses factor and price, the loss decreased
significantly with a growth in
profit
======================= =========================================
Net cash flow from N/A With the increase in deployment
operating activities of transportation capacity by
the Company, and driven by the
increase in both passenger load
factor and price, the revenue
increased significantly
======================= =========================================
Basic earnings per N/A With the increase in deployment
share (RMB per share) of transportation capacity by
the Company, and driven by the
increase in both passenger load
factor and price, the loss decreased
significantly with a growth in
profit
======================= =========================================
Weighted average return Increased by With the increase in deployment
on net assets (%) 60.26 of transportation capacity by
percentage the Company, and driven by the
points increase in both passenger load
factor and price, the loss decreased
significantly with a growth in
profit
======================= =========================================
Owners' equity attributable 65.45 Profit achieved during the current
to shareholders of period, and the non-public issuance
the listed company of shares of Air China
======================= =========================================
II. INFORMATION OF SHAREHOLDERS
(1) Total number of holders of ordinary shares, the number of
holders of preference shares with restored voting rights and the
particulars of the top 10 shareholders
Unit: share
Total number of holders
Total number of holders of preference shares
of ordinary shares as 162,801 with restored voting /
at the end of the Reporting rights as at the
Period end of the Reporting
Period (if any)
Particulars of the top 10 shareholders
Number Shares pledged,
of shares marked or
held subject frozen
to selling
restrictions
=============== ============= ============ ============= ====================
Number Status Number
Nature of of shares Shareholding
Name of shareholder shareholder held percentage
=============== ============= ============ ============= ======= ===========
(%)
=============== ============= ============ ============= ======= ===========
China National Aviation State-owned
Holding Corporation Limited legal person 6,566,761,847 40.53 614,525,150 Frozen 127,445,536
=============== ============= ============ ============= ======= ===========
Cathay Pacific Airways Foreign legal
Limited person 2,633,725,455 16.26 0 Nil 0
=============== ============= ============ ============= ======= ===========
Foreign legal
HKSCC NOMINEES LIMITED person 1,688,957,345 10.43 0 Nil 0
=============== ============= ============ ============= ======= ===========
China National Aviation Foreign legal
Corporation (Group) Limited person 1,556,334,920 9.61 0 Frozen 36,454,464
=============== ============= ============ ============= ======= ===========
China Securities Finance
Corporation Limited Others 311,302,365 1.92 0 Nil 0
=============== ============= ============ ============= ======= ===========
China National Aviation State-owned
Fuel Group Corporation legal person 238,524,158 1.47 0 Nil 0
=============== ============= ============ ============= ======= ===========
Hong Kong Securities Clearing Foreign legal
Company Ltd. person 156,551,132 0.97 0 Nil 0
=============== ============= ============ ============= ======= ===========
China Structural Reform State-owned
Fund Co., Ltd. legal person 67,039,106 0.41 0 Nil 0
=============== ============= ============ ============= ======= ===========
Basic Pension Fund 15022
Portfolio Others 58,092,370 0.36 0 Nil 0
=============== ============= ============ ============= ======= ===========
Bank of China Limited
- China Merchants Anhua
Bond Securities Investment
Fund
( ) Others 49,638,500 0.31 0 Nil 0
=============== ============= ============ ============= ======= ===========
Particulars of the top 10 shareholders not subject to selling
restrictions
Number of
tradable shares
held not subject Class and number of shares
to selling
restrictions
============================= ===========================================
Name of shareholder Class of shares Number
============================= =========================== ==============
China National Aviation Holding
Corporation Limited 5,952,236,697 RMB ordinary shares 5,952,236,697
============================= =========================== ==============
Overseas listed foreign
Cathay Pacific Airways Limited 2,633,725,455 shares 2,633,725,455
============================= =========================== ==============
Overseas listed foreign
HKSCC NOMINEES LIMITED 1,688,957,345 shares 1,688,957,345
============================= =========================== ==============
China National Aviation Corporation
(Group) Limited 1,556,334,920 RMB ordinary shares 1,332,482,920
============================= =========================== ==============
Overseas listed foreign
shares 223,852,000
============================= =========================== ==============
China Securities Finance
Corporation Limited 311,302,365 RMB ordinary shares 311,302,365
============================= =========================== ==============
China National Aviation Fuel
Group Corporation 238,524,158 RMB ordinary shares 238,524,158
============================= =========================== ==============
Hong Kong Securities Clearing
Company Ltd. 156,551,132 RMB ordinary shares 156,551,132
============================= =========================== ==============
China Structural Reform Fund
Co., Ltd. 67,039,106 RMB ordinary shares 67,039,106
============================= =========================== ==============
Basic Pension Fund 15022
Portfolio 58,092,370 RMB ordinary shares 58,092,370
============================= =========================== ==============
Bank of China Limited - China
Merchants Anhua Bond Securities
Investment Fund
( ) 49,638,500 RMB ordinary shares 49,638,500
============================= =========================== ==============
Explanation on connected China National Aviation Corporation
relationship or action in (Group) Limited ("CNACG") is a wholly-owned
concert among the above shareholders subsidiary of China National Aviation
Holding Corporation Limited ("CNAHC").
Accordingly, China National Aviation
Holding Corporation Limited is directly
and indirectly interested in 50.14%
of the shares of the Company.
==========================================================================
Explanation on the participation Nil
of the top 10 shareholders
and the top 10 shareholders
not subject to selling restrictions
in margin financing and securities
lending as well as margin
and securities refinancing
business (if any)
==========================================================================
1. HKSCC NOMINEES LIMITED is a subsidiary of The Stock Exchange
of Hong Kong Limited and its principal business is acting as
nominee for and on behalf of other corporate shareholders or
individual shareholders. The 1,688,957,345 H shares held by it in
the Company do not include the 166,852,000 shares held by it as
nominee of CNACG.
2. According to the "Implementation Measures on Partial Transfer
of State-owned Shares to the National Social Security Fund in the
Domestic Securities Market" (Cai
Qi [2009] No. 94) (
( [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 and 36,454,464 shares held by CNAHC, the
controlling shareholder of the Company, and CNACG respectively are
frozen at present.
III. OTHER ALERTS
Other important information that needs to be brought to the
attention of investors regarding the Company's operations during
the Reporting Period
Applicable Not applicable
On 30 August 2023, the resolutions regarding the amendments to
the Articles of Association, the Rules and Procedures of
Shareholders' Meetings and the Rules and Procedures of Meetings of
the Board have been approved by the twenty-third meeting of the
sixth session of the Board of the Company. For details, please
refer to the relevant announcements published by the Company on the
website of the Shanghai Stock Exchange (http://www.sse.com.cn/),
China Securities Journal, Shanghai Securities News and Securities
Daily on 31 August 2023. On 26 October 2023, the above resolutions
have been approved by the 2023 third extraordinary general meeting,
the 2023 first A shareholders' class meeting and the 2023 first H
shareholders' class meeting of the Company. For details, please
refer to the relevant announcements published by the Company on the
website of the Shanghai Stock Exchange (http://www.sse.com.cn/),
China Securities Journal, Shanghai Securities News and Securities
Daily on 27 October 2023.
IV. QUARTERLY FINANCIAL STATEMENTS
(1) Type of audit opinion
Applicable Not applicable
(2) Financial statements
CONSOLIDATED BALANCE SHEET
30 September 2023
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
30 September 31 December
Items 2023 2022
CURRENT ASSETS:
============ ===========
Cash and bank balance 22,219,322 11,435,877
============ ===========
Provisions on payables
============ ===========
Contributions made
============ ===========
Financial assets held-for-trading 2,687 3,398
============ ===========
Derivative financial assets
============ ===========
Bills receivable 31,497 7,483
============ ===========
Accounts receivable 3,343,487 1,649,356
============ ===========
Receivables financing
============ ===========
Prepayments 607,357 368,692
============ ===========
Premium receivable
============ ===========
Receivables on reinsurance
============ ===========
Provisions for reinsurance contracts
============ ===========
Other receivables 5,387,334 2,807,726
============ ===========
Including: Interest receivable
============ ===========
Dividend receivable
============ ===========
Purchase of financial assets resold
============ ===========
Inventories 3,916,847 2,557,823
============ ===========
Contract assets
============ ===========
Held-for-sale assets 66,481 1,302
============ ===========
Non-current assets due within a year
============ ===========
Other current assets 2,938,315 3,413,474
============ ===========
Total current assets 38,513,327 22,245,131
============ ===========
30 September 31 December
Items 2023 2022
NON-CURRENT ASSETS:
============ ===========
Loans and advances
============ ===========
Debt investments
============ ===========
Other debt investments 1,386,956 1,360,982
============ ===========
Long-term receivables 899,034 539,624
============ ===========
Long-term equity investments 14,671,191 12,574,373
============ ===========
Investments in other equity instruments 738,620 243,760
============ ===========
Other non-current financial assets
============ ===========
Investment properties 324,845 106,118
============ ===========
Fixed assets 97,833,833 86,369,754
============ ===========
Construction in progress 37,912,741 32,908,551
============ ===========
Biological assets for production
============ ===========
Oil and gas assets
============ ===========
Right-of-use assets 122,830,591 122,591,793
============ ===========
Intangible assets 5,497,440 4,300,216
============ ===========
Development expenses
============ ===========
Goodwill 4,097,942 1,102,185
============ ===========
Long-term deferred expenses 272,315 249,268
============ ===========
Deferred tax assets 13,878,557 10,417,452
============ ===========
Other non-current assets 7,160 2,128
============ ===========
Total non-current assets 300,351,225 272,766,204
============ ===========
Total assets 338,864,552 295,011,335
============ ===========
30 September 31 December
Items 2023 2022
CURRENT LIABILITIES:
============ ===========
Short-term loans 23,341,530 19,946,147
============ ===========
Short-term financing bonds payable 2,006,149
============ ===========
Borrowings from central bank
============ ===========
Contributions received
============ ===========
Financial liabilities held-for-trading
============ ===========
Derivative financial liabilities
============ ===========
Bills payable 240,649
============ ===========
Accounts payable 22,734,330 11,628,611
============ ===========
Air traffic liabilities 7,634,011 2,757,601
============ ===========
Receipts in advance 150,970 58,970
============ ===========
Contract liabilities 1,412,321 1,095,185
============ ===========
Sale of financial assets repurchased
============ ===========
Deposits from clients and placements from
other banks
============ ===========
Brokerage payable
============ ===========
Underwriting fees payable
============ ===========
Employee compensations payable 4,315,267 4,317,738
============ ===========
Taxes payable 442,637 275,930
============ ===========
Other payables 15,253,529 13,131,744
============ ===========
Including: Interest payable
============ ===========
Dividend payable
============ ===========
Fees and commissions payable
============ ===========
Amounts payable on reinsurance
============ ===========
Held-for-sale liabilities
============ ===========
Non-current liabilities due within a year 37,374,032 37,264,533
============ ===========
Other current liabilities
============ ===========
Total current liabilities 112,899,276 92,482,608
============ ===========
30 September 31 December
Items 2023 2022
NON-CURRENT LIABILITIES:
============= =============
Reserves on insurance contracts
============= =============
Long-term loans 72,980,897 66,868,774
============= =============
Debentures payable 11,196,030 11,193,342
============= =============
Including: Preference shares
============= =============
Perpetual bonds
============= =============
Lease liabilities 68,640,093 76,897,347
============= =============
Long-term payables 28,077,364 20,551,757
============= =============
Long-term employee compensation payables 196,402 202,016
============= =============
Accrued liabilities 4,253,291 3,090,965
============= =============
Deferred income 430,713 418,200
============= =============
Deferred tax liabilities 371,164 323,297
============= =============
Other non-current liabilities 1,793,752 1,422,843
============= =============
Total non-current liabilities 187,939,706 180,968,541
============= =============
Total liabilities 300,838,982 273,451,149
============= =============
OWNERS' EQUITY (OR SHAREHOLDERS' EQUITY):
============= =============
Paid-up capital (or share capital) 16,200,793 14,524,815
============= =============
Other equity instruments
============= =============
Including: Preference shares
============= =============
Perpetual bonds
============= =============
Capital reserve 39,587,727 26,270,841
============= =============
Less: Treasury shares
============= =============
Other comprehensive income 208,955 421,075
============= =============
Special reserves 3,047
============= =============
Surplus reserves 11,564,287 11,564,287
============= =============
General risk provisions 137,138 137,138
============= =============
Retained earnings -28,640,391 -29,309,022
============= =============
Total owners' equity (or shareholders'
equity) attributable to the parent company 39,061,556 23,609,134
============= =============
Non-controlling interests -1,035,986 -2,048,948
============= =============
Total owners' equity (or shareholders'
equity) 38,025,570 21,560,186
============= =============
Total liabilities and owners' equity (or
shareholders' equity) 338,864,552 295,011,335
============= =============
Person in charge of the Company: Mr. Ma Chongxian Person in
charge of accounting function: Mr. Sun Yuquan Person in charge of
accounting department: Mr. Lyu Lingfei
CONSOLIDATED INCOME STATEMENT
January to September 2023
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
First three First three
quarters of quarters of
2023 (January 2022 (January
Items to September) to September)
I. Total revenue from operations 105,476,845 42,088,565
======================== ========================
Including: Operating income 105,476,845 42,088,565
======================== ========================
Interest income
======================== ========================
Premium earned
======================== ========================
Fees and commission income
======================== ========================
II. Total operating cost 111,920,572 76,941,159
======================== ========================
Including: Operating costs 97,359,086 61,410,372
======================== ========================
Interest expenses
======================== ========================
Fees and commission expenses
======================== ========================
Returned premium
======================== ========================
Net reimbursement paid
======================== ========================
Net amounts of provisions on insurance
obligations drawn
======================== ========================
Bonus paid on insurance policy
======================== ========================
Reinsurance premium
======================== ========================
Taxes and other levies 259,123 96,654
======================== ========================
Selling expenses 3,996,379 2,712,924
======================== ========================
General and administrative expenses 3,729,604 3,231,633
======================== ========================
R&D expenses 213,842 126,195
======================== ========================
Finance expenses 6,362,538 9,363,381
======================== ========================
Including: Interest expenses 5,323,094 4,783,027
======================== ========================
Interest income 481,087 159,173
======================== ========================
Add: Other income 3,208,572 2,153,587
======================== ========================
Investment income (loss is represented
by "-" sign) 2,240,021 - 642,522
======================== ========================
Including: Share of profits of associates
and joint ventures 2,189,703 - 683,153
======================== ========================
Gains on derecognition of
financial assets
measured at amortised cost
======================== ========================
Exchange gains (loss is represented by
"-" sign)
======================== ========================
Gains from net exposure to hedging (loss
is represented by "-" sign)
======================== ========================
Gains from changes in fair value (loss
is represented by "-" sign) - 711 - 624
======================== ========================
First three First three
quarters of quarters of
2023 (January 2022 (January
Items to September) to September)
Impairment loss of credit (loss is
represented
by "-" sign) - 16,331 - 218
======================== ========================
Impairment loss of assets (loss is
represented
by "-" sign) - 107,432
======================== ========================
Gains from disposal of assets (loss is
represented by "-" sign) 689,664 - 3,176
======================== ========================
III. Profit from operations (loss is
represented by "-" sign) - 429,944 - 33,345,547
======================== ========================
Add: Non-operating income 1,468,565 76,286
======================== ========================
Less: Non-operating expenses 97,505 93,094
======================== ========================
IV. Total profit (total loss is represented
by "-" sign) 941,116 - 33,362,355
======================== ========================
Less: Income tax expenses - 245,721 - 950,069
======================== ========================
V. Net profit (net loss is represented
by "-" sign) 1,186,837 - 32,412,286
======================== ========================
(I) Classified by continuity of operations
======================== ========================
1. Net profit from continuing operations
(net loss is represented by "-" sign) 1,186,837 - 32,412,286
======================== ========================
2. Net profit from discontinued operation
(net loss is represented by "-" sign)
======================== ========================
(II) Classified by ownership
======================== ========================
1. Net profits attributable to shareholders
of the parent company (net loss is represented
by "-" sign) 791,421 - 28,103,264
======================== ========================
2. Profit or loss attributable to non-controlling
interests (net loss is represented by
"-" sign) 395,416 - 4,309,022
======================== ========================
VI. Other comprehensive income after
tax, net - 91,351 1,883,524
======================== ========================
(I) Other comprehensive income after tax
attributable to owners of the parent company,
net - 65,958 1,850,445
======================== ========================
1. Other comprehensive income that cannot
be subsequently reclassified to profit
or loss - 23,673 2,659
======================== ========================
(1) Changes arising on remeasurement of
defined benefit plans 33 - 260
======================== ========================
(2) Other comprehensive income accounted
for using the equity method that cannot
be reclassified to profit or loss - 10
======================== ========================
(3) Change in fair value of investments
in other equity instruments - 23,706 2,929
======================== ========================
(4) Change in fair value of own credit
risk of the Company
======================== ========================
First three First three
quarters of quarters of
2023 (January 2022 (January
Items to September) to September)
2. Other comprehensive income that will
be reclassified to profit or loss - 42,285 1,847,786
======================== ========================
(1) Other comprehensive income accounted
for using the equity method that may be
reclassified to profit or loss - 473,547 269,267
======================== ========================
(2) Change in fair value of other debt
investments 159 - 132
======================== ========================
(3) Amount of financial assets reclassified
into other comprehensive income
======================== ========================
(4) Provisions for credit impairment of
other debt investments - 344 - 1,210
======================== ========================
(5) Reserve for cash flow hedging
======================== ========================
(6) Exchange difference on translation
of financial statements in foreign currency 431,447 1,579,861
======================== ========================
(7) Others
======================== ========================
(II) Other comprehensive income after
tax attributable to non- controlling interests,
net - 25,393 33,079
======================== ========================
VII. Total comprehensive income 1,095,486 - 30,528,762
======================== ========================
(I) Total comprehensive income attributable
to owners of the parent company 725,463 - 26,252,819
======================== ========================
(II) Total comprehensive income attributable
to non-controlling interests 370,023 - 4,275,943
======================== ========================
VIII. Earnings per share:
======================== ========================
(I) Basic earnings per share (RMB per
share) 0.05 - 2.05
======================== ========================
(II) Diluted earnings per share (RMB per N/A N/A
share)
======================== ========================
For business combination under common control during the current
period, the net profit of merged party before the business
combination is RMB0, and the net profit of the merged party for the
last period is RMB0.
Person in charge of the Company: Mr. Ma Chongxian Person in
charge of accounting function: Mr. Sun Yuquan Person in charge of
accounting department: Mr. Lyu Lingfei
CONSOLIDATED CASH FLOW STATEMENT
January to September 2023
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
First three First three
quarters of quarters of
2023 (January 2022 (January
Items to September) to September)
I. Cash flows from operating activities:
======================== ========================
Cash received from sales of goods and
provision of services 117,873,834 44,775,183
======================== ========================
Net increase in deposits from clients
and placements from banks
======================== ========================
Net increase in borrowings from central
bank
======================== ========================
Net increase in contributions received
from other financial institutions
======================== ========================
Cash received from premiums of original
insurance contracts
======================== ========================
Net cash receipt from reinsurance operations
======================== ========================
Net increase in reserve of the insured
and investment
======================== ========================
Cash received from interest, fees and
commission
======================== ========================
Net increase in contributions received
======================== ========================
Net increase in cash from repurchase operations
======================== ========================
Net cash receipt from securities trading
as agent
======================== ========================
Refund of taxes and levies 1,260,276 3,667,415
======================== ========================
Other cash received relating to operating
activities 3,970,888 3,866,614
======================== ========================
Subtotal of cash inflows of operating
activities 123,104,998 52,309,212
======================== ========================
Cash paid for goods purchased and services
received 60,606,339 33,419,398
======================== ========================
Net increase in loans and advances to
clients
======================== ========================
Net increase in deposits in central bank
and other banks
======================== ========================
Cash paid in respect of claims under original
insurance contracts
======================== ========================
Net increase in contributions made
======================== ========================
Cash paid for interest, fees and commissions
======================== ========================
Cash paid for bonus paid on insurance
policy
======================== ========================
Cash paid to or on behalf of employees 22,312,292 18,342,731
======================== ========================
Taxes and levies paid 1,425,490 895,130
======================== ========================
Other cash paid relating to operating
activities 5,685,281 4,547,513
======================== ========================
Subtotal of cash outflows from operating
activities 90,029,402 57,204,772
======================== ========================
Net cash flows from operating activities 33,075,596 - 4,895,560
======================== ========================
First three First three
quarters of quarters of
2023 (January 2022 (January
Items to September) to September)
II. Cash flows from investing activities:
======================== ========================
Cash received from sale and redemption
of investments 695,882 3,690
======================== ========================
Recovery of the secured bank deposits 2,379 15,081
======================== ========================
Cash received from investment income 161,483 247,381
======================== ========================
Net cash received for acquisition of subsidiaries
and other business units 5,392,113
======================== ========================
Net cash proceeds from disposal of fixed
assets, intangible assets and other long-term
assets 802,934 569,232
======================== ========================
Net cash proceeds from disposal of subsidiaries
and other business units
======================== ========================
Other cash received relating to investing
activities 472,732 159,173
======================== ========================
Subtotal of cash inflows from investing
activities 7,527,523 994,557
======================== ========================
Cash paid for purchase and construction
of fixed assets, intangible assets and
other long-term assets 13,758,422 5,685,046
======================== ========================
Cash paid for investments 171,838 961,140
======================== ========================
Net increase in secured loans
======================== ========================
Net cash payments for acquisition of subsidiaries
and other business units
======================== ========================
Increase in secured bank deposits 6,407 1,557
======================== ========================
Other cash paid relating to investing
activities
======================== ========================
Subtotal of cash outflows from investing
activities 13,936,667 6,647,743
======================== ========================
Net cash flows from investing activities - 6,409,144 - 5,653,186
======================== ========================
III. Cash flows from financing activities:
======================== ========================
Cash received from capital injection 18,393,017
======================== ========================
Including: Cash received from capital
injection of non-controlling shareholders
in subsidiaries
======================== ========================
Cash received from issuance of debentures 13,950,000
======================== ========================
Cash received from borrowings 40,176,857 79,739,578
======================== ========================
Other cash received relating to financing
activities
======================== ========================
Subtotal of cash inflows from financing
activities 58,569,874 93,689,578
======================== ========================
Cash paid for repayment of borrowings 39,733,328 51,580,318
======================== ========================
Cash paid for repayment of debentures 9,500,000 17,000,000
======================== ========================
Cash paid for distribution of dividends,
profits or payment of interest expenses 5,653,200 5,001,317
======================== ========================
Including: Dividends and profits paid
to non-controlling shareholders by subsidiaries 9,890 644
======================== ========================
Cash paid for leases 19,592,765 11,758,167
======================== ========================
Other cash paid relating to financing
activities 13
======================== ========================
Subtotal of cash outflows from financing
activities 74,479,306 85,339,802
======================== ========================
Net cash flows from financing activities - 15,909,432 8,349,776
======================== ========================
First three First three
quarters of quarters of
2023 (January 2022 (January
Items to September) to September)
IV. Effect of exchange rate changes on
cash and cash equivalents 145,037 39,950
======================== ========================
V. Net increase in cash and cash equivalents 10,902,057 - 2,159,020
======================== ========================
Add: Balance of cash and cash equivalents
as at the beginning of the period 10,607,711 15,934,713
======================== ========================
VI. Balance of cash and cash equivalents
as at the end of the period 21,509,768 13,775,693
======================== ========================
Person in charge of the Company: Mr. Ma Chongxian Person in
charge of accounting function: Mr. Sun Yuquan Person in charge of
accounting department: Mr. Lyu Lingfei
Adjustments made to the financial statements as at the beginning
of the year for the initial implementation of New Accounting
Standards or interpretation of standards since 2023
Applicable Not applicable
The announcement is hereby given.
By Order of the Board
Air China Limited
Huang Bin Huen Ho Yin
Joint Company Secretaries
Beijing, the PRC, 26 October 2023
As at the date of this announcement, the directors of the
Company are Mr. Ma Chongxian, Mr. Wang Mingyuan, Mr. Feng Gang, Mr.
Patrick Healy, Mr. Xiao Peng, Mr. Li Fushen*, Mr. He Yun*, Mr. Xu
Junxin* and Ms. Winnie Tam Wan-chi*.
* Independent non-executive director of the Company
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END
QRTFEMSDWEDSELS
(END) Dow Jones Newswires
October 27, 2023 02:00 ET (06:00 GMT)
Air China Ld (LSE:AIRC)
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Air China Ld (LSE:AIRC)
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