Fleet and Operations - The company operates a modern fleet of 785 aircraft with an average age of approximately 8.4 years, including 3 business jets[7]. - The company focuses on domestic and approved international passenger, cargo, mail, and baggage transportation services, along with extended services[7]. - The company has a core hub strategy centered around Shanghai and Beijing, with regional hubs in Xi'an and Kunming[7]. - The company emphasizes a streamlined and efficient operation to provide high-quality air transport services to global travelers[7]. - The company is authorized to engage in general aviation, aircraft maintenance, and related businesses, including e-commerce and retail[7]. - The company introduced 12 new aircraft and retired 5 aircraft in the first half of 2023, maintaining a young fleet structure[87]. - The company commenced commercial passenger flights with the domestically produced C919 aircraft on May 28, 2023[87]. Financial Performance - The mid-term financial performance for the six months ending June 30, 2023, was reviewed and approved by the board on August 30, 2023, under international financial reporting standards[5]. - Total revenue for the first half of 2023 reached RMB 49,425 million, a significant increase from RMB 19,354 million in the same period of 2022, representing a growth of 155.5%[12]. - Operating expenses totaled RMB 54,649 million, up from RMB 36,883 million in the previous year, indicating a rise of 48.0%[12]. - The net loss for the period was RMB 6,577 million, an improvement compared to a net loss of RMB 19,974 million in the first half of 2022, reflecting a reduction of 67.0%[13]. - The company reported a pre-tax loss of RMB 6,966 million, down from RMB 19,995 million in the same period last year, showing a decrease of 65.2%[12]. - The total comprehensive loss for the period was RMB 6,633 million, compared to RMB 19,905 million in the same period last year, indicating a decrease of 66.7%[13]. - The company’s basic and diluted loss per share for the period was RMB 0.28, compared to RMB 0.99 in the same period of 2022[12]. - The company reported a net loss of RMB (6,249) million for the period, compared to a loss of RMB (18,736) million in the same period last year[16]. Cash Flow and Assets - As of June 30, 2023, total assets amounted to RMB 258,668 million, a slight decrease from RMB 260,571 million as of December 31, 2022[14]. - The company reported cash and cash equivalents of RMB 20,112 million, an increase from RMB 17,541 million year-over-year[14]. - Operating cash flow generated was RMB 16,137 million, a significant recovery from a negative cash flow of RMB (1,518) million in the same period last year[17]. - The company’s cash flow from operating activities after tax payments was RMB 16,113 million, a significant improvement from RMB (1,575) million in the previous year[17]. - The company’s total liabilities as of June 30, 2023, were RMB 232,958 million, compared to RMB 224,928 million at the end of 2022, indicating a growth in financial obligations[15]. Revenue Breakdown - The total revenue for the airline segment reached RMB 49,307 million, while the other business segment generated RMB 118 million, leading to a total reported revenue of RMB 49,425 million[24]. - Revenue from domestic operations in China amounted to RMB 41,749 million, a significant increase from RMB 14,104 million in the same period last year[29]. - The international revenue increased to RMB 6,559 million, compared to RMB 5,070 million in the previous year, indicating a growth in international operations[29]. - Passenger transport revenue accounted for RMB 45,378 million, while cargo and mail transport revenue was RMB 1,487 million for the six months ended June 30, 2023[37]. Strategic Focus and Future Plans - The company has a strategic focus on expanding its market presence and enhancing service offerings[7]. - The company aims to enhance its market expansion strategies and invest in new technologies to improve operational efficiency and customer experience moving forward[12]. - The company is exploring potential mergers and acquisitions to strengthen its market position[7]. - The company plans to introduce 22 aircraft in the second half of 2023, with a total of 43 aircraft planned for 2024 and 35 for 2025[138]. - The company is committed to sustainable development initiatives, including carbon reduction and promoting the use of Sustainable Aviation Fuel (SAF)[137]. Risks and Challenges - The company faces risks related to fluctuating oil prices, which significantly impact fuel costs, with a potential RMB 872 million impact on fuel costs for a 5% change in average oil prices[120]. - The company has a significant amount of foreign currency liabilities, primarily in USD, which can lead to substantial exchange rate gains or losses affecting overall profit[121]. - The company is closely monitoring macroeconomic conditions, international trade relations, geopolitical situations, and public health events to adjust capacity and market strategies accordingly[118]. Corporate Governance - The company’s corporate governance level meets the requirements set out in the Corporate Governance Code[152]. - The chairman and CEO roles are separated, with the CEO acting as chairman to enhance strategic execution[153]. - The audit and risk management committee reviewed the accounting principles and methods adopted by the company[152]. - The company has organized training to enhance compliance awareness among its directors and senior management[153]. Shareholder Information - As of June 30, 2023, the total number of shares is approximately 22.29 billion, with A shares accounting for 76.78% and H shares for 23.22%[140]. - The company has a significant concentration of ownership, with the top shareholder holding over 50% of the A shares[146]. - The company’s major shareholders include China Eastern Airlines Group, Eastern Airlines International, and Junyao Group, among others[146].

Financial Performance - The total revenue for the six months ended June 30, 2023, was RMB 49,425 million, a significant increase from RMB 19,354 million in the same period of 2022, representing a growth of 155.5%[3] - Operating expenses totaled RMB 54,649 million, up from RMB 36,883 million in the previous year, indicating a rise of 48.1%[3] - The operating loss for the period was RMB 2,597 million, a substantial improvement compared to an operating loss of RMB 15,716 million in the same period last year[3] - The net loss attributable to equity holders of the company was RMB 6,249 million, compared to a net loss of RMB 18,736 million in the same period of 2022, reflecting a reduction of 66.7%[4] - The total comprehensive loss for the period was RMB 6,633 million, down from RMB 19,905 million in the previous year, showing a decrease of 66.7%[4] - The company reported a net loss of RMB 6.58 billion for the six months ended June 30, 2023[13] - Total comprehensive income for the period was a loss of RMB 6.63 billion, compared to a loss of RMB 19.91 billion for the same period in 2022[9] Assets and Liabilities - As of June 30, 2023, total assets amounted to RMB 291,604 million, compared to RMB 287,984 million as of December 31, 2022[5][6] - The company's net liabilities stood at RMB 81,839 million, slightly increased from RMB 79,033 million at the end of 2022[6] - The company's total liabilities as of June 30, 2023, were RMB 265,894 million, an increase from RMB 255,641 million as of December 31, 2022[27] - The company's total liabilities exceeded total assets by approximately RMB 81.84 billion as of June 30, 2023[13] - The company's total equity decreased to RMB 25.71 billion from RMB 32.34 billion at the beginning of the year[9] Cash Flow and Investments - The cash and cash equivalents as of June 30, 2023, were RMB 20,112 million, up from RMB 17,541 million at the end of 2022, indicating an increase of 14.2%[5] - Operating cash flow generated was RMB 16.14 billion, a significant improvement from a cash outflow of RMB 1.58 billion in the previous year[10] - The company incurred net cash used in investing activities of RMB 6.51 billion, compared to RMB 1.87 billion in the prior year[10] - Cash and cash equivalents at the end of the period amounted to RMB 25.71 billion, down from RMB 32.34 billion at the beginning of the year[9] Revenue Segmentation - The airline business segment reported revenue of RMB 49,307 million, while the other business segment generated RMB 118 million, leading to a total segment revenue of RMB 49,425 million for the six months ended June 30, 2023[19] - Revenue from domestic operations in China reached RMB 41,749 million, a significant increase from RMB 14,104 million in the same period last year[24] - International revenue amounted to RMB 6,559 million, up from RMB 5,070 million year-over-year[24] - Passenger transport revenue accounted for RMB 45,378 million, while cargo and mail transport revenue was RMB 1,487 million for the six months ended June 30, 2023[30] Operational Metrics - The available seat kilometers (ASK) increased by 143.76% to 108,605.29 million from 44,554.26 million year-on-year[80] - Passenger kilometers (RPK) rose by 188.51% to 77,934.58 million compared to 27,012.42 million in the previous year[80] - The number of passengers carried increased by 178.27% to 51,945.79 thousand from 18,667.47 thousand year-on-year[80] - The passenger load factor improved by 11.13 percentage points to 71.76% from 60.63% in the same period last year[80] - The overall load factor improved by 10.22 percentage points to 60.56%, with domestic routes at 61.18% and international routes at 58.66%[82] Future Outlook and Strategic Initiatives - Future outlook remains cautious, with management emphasizing the need for strategic adjustments in response to market conditions and operational challenges[2] - The company plans to continue its operational activities and expects positive cash inflows in the next 12 months[13] - The company is focusing on enhancing service standards and optimizing passenger experience through training and service process improvements[88] - The company is transitioning to an innovative economy-oriented airline model to meet diverse passenger needs by integrating relevant business sectors[89] Related Party Transactions - The company reported related party transactions totaling RMB 1,487 million for exclusive transportation revenue, a decrease of 62% from RMB 3,910 million in the previous year[58] - The company’s procurement of meals and cabin supplies from related parties amounted to RMB 1,279 million, a substantial increase from RMB 438 million, representing a growth of 192%[57] - Accounts receivable from related companies reached RMB 395 million, up from RMB 270 million, indicating a growth of 46%[61] Environmental and Social Responsibility - The company has implemented a carbon peak action plan and promoted the use of sustainable aviation fuel (SAF), with 15% SAF blended fuel used in flights[90] - In the first half of 2023, the company invested over RMB 26.6 million in targeted assistance programs in Yunnan Province to support local agricultural products[90] - The company has established a psychological health service system for employees and organized 186 public welfare activities in the first half of 2023, engaging over 68,000 employees[90] Corporate Governance - The company did not declare any dividends for the six months ended June 30, 2023, consistent with the previous year[37] - The company has adopted the Listing Rules Appendix 10 as the code of conduct for its directors regarding securities trading, ensuring compliance[116] - The Audit and Risk Management Committee reviewed the accounting principles and methods adopted by the group, with no dissenting opinions[117]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00670） 2023 年 第 一 季 度 報 告 本公告乃本公司根據香港法例第571章《證券及期貨條例》第XIVA部及《香港聯合交易 所有限公司證券上市規則》第13.09條及第13.10B條的披露規定而作出。 本公司2023年第一季度財務會計報告未經審計，並根據中國企業會計準則編製。 重要提示 《香港聯合交易所有限公司證券上市規則》（「上市規則」）第13.10B條規定在香港聯合交易 所有限公司（「香港聯交所」）上市的任何發行人，如其證券同時在其他證券交易所上市， 則發行人在通知其他證券交易所任何資料的同時亦必須通知香港聯交所；此外，發行 人須確保在其他市場公佈的任何資料，亦同時在香港市場公佈。中國東方航空股份有限 公司（「本公司」）為遵守上述規定發表本公告。應上海證券交易所要求，本公司根據上海 上市規則及規定項下有關條文同日於上海同時發出類似公告 ...

Fleet and Operations - As of the end of 2022, the company operated a modern fleet of 778 passenger aircraft, with an average age of approximately 8.1 years[7]. - The fleet consisted of 778 aircraft as of December 31, 2022, with 34 new aircraft introduced and 11 retired during the year[25]. - The company plans to introduce 36 aircraft in 2023, with 50 in 2024 and 35 in 2025, while retiring 14, 23, and 37 aircraft respectively[28]. - The company achieved a passenger kilometer yield of RMB 0.602 in 2022, up 13.37% from RMB 0.531 in 2021[22]. - The group completed 1.0774 million flight hours and 445,800 takeoffs and landings during the reporting period[39]. - The company is focusing on expanding its market presence and enhancing its operational efficiency in response to the challenging market conditions[17]. Financial Performance - In 2022, China Eastern Airlines reported a total revenue of RMB 46,111 million, a significant decrease of 31.3% compared to RMB 67,127 million in 2021[17]. - The operating loss for 2022 was RMB 31,635 million, compared to a loss of RMB 13,518 million in 2021, indicating a worsening financial performance[17]. - The net loss attributable to equity holders for 2022 was RMB 37,386 million, compared to a loss of RMB 12,214 million in 2021, reflecting a substantial decline in profitability[17]. - The company reported a net loss of RMB 39,900 million for the year ended December 31, 2022, compared to a net loss of RMB 12,214 million in 2021, indicating a significant increase in losses[20]. - The total operating cost for 2022 was RMB 81.359 billion, a decrease of 6.19% year-on-year, primarily due to adjustments in flight capacity[65]. - The company’s net current liabilities increased to RMB 79,033 million in 2022, compared to RMB 57,981 million in 2021, indicating a deterioration in short-term financial health[17]. Market Strategy and Growth - The company aims to build a world-class integrated aviation service provider, focusing on precision and quality service for global travelers[7]. - The company has outlined future growth strategies, including potential mergers and acquisitions to strengthen its market position[7]. - The company plans to enhance its service brand promotion, focusing on a service philosophy of "precision, accuracy, and excellence" to improve customer loyalty and service experience[45]. - The company is actively pursuing market recovery opportunities to enhance profitability and strengthen its operational capabilities in the Beijing-Tianjin-Hebei region[48]. - The company is exploring potential mergers and acquisitions to strengthen its market position in the Asia-Pacific region[124]. Customer Engagement and Loyalty Programs - The "Eastern Miles" frequent flyer program offers benefits across 19 member airlines of the SkyTeam Alliance and access to over 750 airport lounges worldwide[7]. - The frequent flyer program "Eastern Miles" surpassed 50 million members, with "One-Stop 6" covering 20 domestic stations[43]. - The airline's loyalty program has seen a 30% increase in membership, indicating strong customer engagement and retention[124]. Technology and Innovation - The company is focused on developing new technologies and products to improve operational efficiency and customer experience[7]. - The company is investing in new technologies and product development to improve customer experience and operational capabilities[17]. - The company is investing $200 million in R&D for new technologies aimed at enhancing operational efficiency[134]. - New technology initiatives include the implementation of an AI-based customer service system, aimed at improving response times by 40%[137]. Sustainability and Corporate Responsibility - The company emphasizes the importance of corporate governance and social responsibility in its business practices[7]. - The company has implemented a carbon peak action plan as part of its "14th Five-Year" green development plan[43]. - The group is committed to green development and is actively planning pathways to achieve carbon peak and carbon neutrality[49]. - The company is committed to fulfilling social responsibilities, including rural revitalization efforts and climate change research, while promoting sustainable aviation fuel applications[45]. Governance and Management - The board of directors has established a robust corporate governance structure, ensuring compliance with legal and regulatory requirements[171]. - The company has established four specialized committees to ensure good corporate governance[179]. - The independent non-executive directors have confirmed their independence annually, in line with listing rules[182]. - The company has adopted the "Standard Code" for securities trading by directors, ensuring compliance with regulations regarding share transactions[184]. Financial Management and Capital Structure - The company plans to apply for voluntary delisting of its American Depositary Receipts (ADR) from the New York Stock Exchange, indicating a strategic shift in its market presence[10]. - The company aims to optimize its debt currency structure and broaden financing channels, including issuing short-term financing bonds and corporate bonds[57]. - The company expects total capital expenditure for aircraft and engines over the next three years to be approximately RMB 54.11 billion, with planned expenditures of RMB 12.74 billion, RMB 27.85 billion, and RMB 13.52 billion for 2023, 2024, and 2025 respectively[77]. - The company plans to improve its capital structure and reduce the debt-to-asset ratio through the raised funds[108]. Employee and Talent Development - The company has established a comprehensive talent development system, focusing on the cultivation of high-end research talents and optimizing the incentive mechanisms[98]. - The company emphasizes training programs for management personnel to enhance their comprehensive capabilities in safety, compliance, and leadership[96]. - The company is committed to enhancing core skills among employees through regular professional skill competitions[99]. Risk Management - The company is closely monitoring macroeconomic conditions and geopolitical situations to adjust capacity deployment and market sales flexibly[56]. - The group faces risks in international market expansion and investment mergers, and is strengthening its investment management and risk control systems through due diligence and asset evaluation[61]. - The company emphasizes the importance of safety operations and has implemented strict regulations and standards to mitigate operational risks[56].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00670） 2022 年 度 業 績 公 告 中國東方航空股份有限公司（「本公司」）董事會（「董事會」）向各位報告本公司及其附屬 公司（「本集團」）截至2022年12月31日止年度（「本年度」）經審計按國際財務報告準則編製 之綜合業績，以及2021年度的比較數據。 財務資料 甲、根據國際財務報告準則編製 合併損益及其他綜合收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣百萬元 人民幣百萬元 收入 5 46,111 67,127 其他營業收入和利得 6 3,613 6,079 ...