[Financial Statements](index=1&type=section&id=財務報表) [Consolidated Income Statement](index=1&type=section&id=合併利潤表) Driven by aviation market recovery, the company's H1 2023 total operating revenue grew 45.6% to **RMB 3.31 billion**, with net profit attributable to parent company shareholders surging 171.0% to **RMB 1.20 billion** and basic EPS rising to **RMB 0.41** Key Income Statement Data for H1 2023 | Metric | Current Period Amount (RMB Thousand) | Prior Period Amount (RMB Thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 3,307,556 | 2,271,991 | +45.6% | | Operating Profit | 1,338,680 | 418,236 | +219.9% | | Total Profit | 1,346,864 | 462,658 | +191.1% | | Net Profit | 1,207,654 | 455,820 | +164.9% | | Net Profit Attributable to Parent Company Shareholders | 1,200,385 | 443,034 | +171.0% | | Basic Earnings Per Share (RMB/share) | 0.41 | 0.15 | +173.3% | [Consolidated Balance Sheet](index=3&type=section&id=合併資產負債表) As of June 30, 2023, total assets increased 11.5% to **RMB 28.18 billion**, total liabilities rose 33.6% to **RMB 7.38 billion**, and net assets attributable to parent company owners grew 5.5% to **RMB 20.28 billion**, with the asset-liability ratio increasing from 21.9% to 26.2% Key Balance Sheet Item Changes | Metric | Period-End Balance (RMB Thousand) | Prior Year-End Balance (RMB Thousand) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 28,181,130 | 25,262,644 | +11.5% | | Total Liabilities | 7,377,501 | 5,520,414 | +33.6% | | Equity Attributable to Parent Company Owners | 20,283,508 | 19,229,379 | +5.5% | - Current assets increased from **RMB 16.78 billion** to **RMB 19.29 billion**, primarily due to a **RMB 1.10 billion** increase in cash and cash equivalents and a **RMB 650 million** increase in accounts receivable[5](index=5&type=chunk) - Current liabilities increased from **RMB 5.14 billion** to **RMB 7.01 billion**, mainly due to new short-term borrowings of **RMB 550 million** and an increase of **RMB 1.54 billion** in other payables[6](index=6&type=chunk) [Notes to Financial Statements](index=6&type=section&id=財務報表附註) [Company Overview and Basis of Preparation](index=6&type=section&id=公司基本情況與編製基礎) The company, China National Aviation Information Network Corporation Limited, established in Beijing in 2000, provides IT solutions and services for the aviation travel industry, with its financial statements prepared under Chinese Accounting Standards on a going concern basis - The company primarily operates in aviation passenger business processing, electronic distribution, airport passenger processing, data processing, and settlement and clearing services[8](index=8&type=chunk) - Financial statements are prepared in accordance with Chinese Accounting Standards and comply with the disclosure provisions of the Hong Kong Stock Exchange Listing Rules[9](index=9&type=chunk) [Changes in Accounting Policies](index=7&type=section&id=會計政策變更) Effective January 1, 2023, the group adopted Interpretation No. 16 of Accounting Standards for Business Enterprises regarding deferred income tax on assets and liabilities arising from a single transaction, impacting deferred tax assets, liabilities, and income tax expense - The adoption of new provisions in Interpretation No. 16 of Accounting Standards for Business Enterprises primarily impacts the recognition of deferred tax assets and liabilities[11](index=11&type=chunk) Impact of Accounting Policy Changes (January-June 2023) | Affected Statement Item | Impact Amount (RMB Thousand) | | :--- | :--- | | Deferred Tax Assets | 3,729 | | Deferred Tax Liabilities | 3,043 | | Income Tax Expense | -660 | [Taxation](index=8&type=section&id=稅項) The company's main taxes are VAT and corporate income tax, enjoying a 15% preferential income tax rate as a high-tech enterprise, with potential for a 10% rate as a key software enterprise, which has been reflected in H1 2023 financial statements - As a high-tech enterprise, the company accrues corporate income tax for H1 2023 at a preferential rate of **15%**[15](index=15&type=chunk) - The company may also enjoy a lower **10%** tax rate as a key software enterprise, with related tax benefits reflected in the current period's financial statements[16](index=16&type=chunk) [Notes to Major Items in Consolidated Financial Statements](index=9&type=section&id=合併財務報表主要項目註釋) This section details key consolidated financial statement items, including accounts receivable increasing to **RMB 4.74 billion**, operating revenue growing 45.6% driven by aviation IT services, significant growth in investment income, and notable increases in personnel, technical support, and commission expenses [Revenue and Costs](index=13&type=section&id=收入與成本) In H1 2023, main business revenue grew 46.1% to **RMB 3.28 billion**, primarily driven by a 135.7% increase in aviation IT services revenue, while system integration services revenue decreased 46.5% Operating Revenue Details (RMB Thousand) | Item | Current Period Amount | Prior Period Amount | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Aviation Information Technology Services | 1,890,118 | 801,913 | +135.7% | | Settlement and Clearing Services | 185,361 | 141,082 | +31.4% | | System Integration Services | 320,895 | 600,325 | -46.5% | | Data Network Services | 201,682 | 232,282 | -13.2% | | Other Income | 709,499 | 496,389 | +42.9% | | **Total** | **3,307,556** | **2,271,991** | **+45.6%** | [Accounts Receivable](index=9&type=section&id=應收賬款) As of June 30, 2023, accounts receivable increased to **RMB 4.74 billion**, with the highest proportion being less than one year old, while impairment allowance decreased to **RMB 580 million** due to a **RMB 120 million** reversal of impairment losses Accounts Receivable Movement | Metric (RMB Thousand) | Period-End Balance | Prior Year-End Balance | | :--- | :--- | :--- | | Accounts Receivable Subtotal | 5,315,163 | 4,780,758 | | Less: Impairment Allowance | 578,423 | 696,351 | | **Total** | **4,736,740** | **4,084,407** | - A reversal of **RMB 120 million** in accounts receivable impairment losses was recognized in the current period, compared to an impairment loss of **RMB 99 million** in the prior period[28](index=28&type=chunk) [Financial Asset Investments](index=11&type=section&id=金融資產投資) The company holds a 13.26% equity stake in China Merchants Renhe Life Insurance Co., Ltd., classified as other equity instrument investment with a fair value of **RMB 836 million**, and an investment in China Mobile Equity Fund accounted for as other non-current financial assets with a carrying value of **RMB 603 million** - The company holds a **13.26%** equity stake in China Merchants Renhe Life Insurance, with a stable period-end fair value of **RMB 836 million**[20](index=20&type=chunk) - Investment in China Mobile Equity Fund has a carrying value of **RMB 603 million**, with the fund primarily investing in the 5G and information and communication industry chains[21](index=21&type=chunk)[22](index=22&type=chunk) [Liability Items](index=12&type=section&id=負債項目) As of period-end, accounts payable decreased to **RMB 1.99 billion**, with the majority less than one year old, while contract liabilities slightly increased to **RMB 660 million**, primarily related to system integration service contracts Key Liability Items (RMB Thousand) | Item | Period-End Balance | Prior Year-End Balance | | :--- | :--- | :--- | | Accounts Payable | 1,990,589 | 2,183,484 | | Contract Liabilities | 657,229 | 614,312 | [Profit and Loss Items](index=14&type=section&id=損益項目) Investment income surged 254.8% to **RMB 44.64 million**, driven by gains from financial assets held for trading, while credit impairment losses turned into a **RMB 117 million** gain due to accounts receivable impairment allowance reversals, and asset impairment losses also became a **RMB 2.45 million** gain Key Profit and Loss Item Changes (RMB Thousand) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Investment Income | 44,643 | 12,583 | | Credit Impairment Losses | 116,978 | -97,971 | | Asset Impairment Losses | 2,453 | -5,230 | [Earnings Per Share and Dividends](index=15&type=section&id=每股收益與股息) In H1 2023, basic and diluted earnings per share both significantly increased to **RMB 0.41**, and the company approved a final cash dividend of **RMB 0.053** per share for 2022, totaling **RMB 155 million** - Basic and diluted earnings per share both reached **RMB 0.41**, representing a **173.3%** year-on-year increase[31](index=31&type=chunk) - A final dividend for 2022 totaling **RMB 155 million** has been distributed[32](index=32&type=chunk) [Share-based Payments](index=16&type=section&id=股份支付) The company's H-share share appreciation rights incentive plan was terminated in December 2021, with remaining rights not remeasured at period-end due to ongoing termination document signing, resulting in a cumulative liability of **RMB 23.5 million** - The H-share share appreciation rights plan has been decided for termination, with related termination documents currently being signed[35](index=35&type=chunk) - As of period-end, the cumulative liability arising from cash-settled share-based payments amounted to **RMB 23.5 million**[35](index=35&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=管理層討論與分析) [Business Review](index=17&type=section&id=業務回顧) In H1 2023, driven by the robust recovery of China's civil aviation market, the company's electronic travel distribution system processing volume surged 143.0%, while significant progress was made in airline digitalization, smart airport construction, settlement and clearing services, and innovative solutions like digital RMB - Electronic Travel Distribution (ETD) system processed approximately **284 million** passengers, a **143.0%** year-on-year increase, recovering to **84.2%** of 2019 levels[36](index=36&type=chunk) - Progress in smart airport construction includes facial recognition boarding deployed at **54** airports nationwide and the One ID passenger service platform extended to over **20** airports[37](index=37&type=chunk) - Settlement and clearing systems processed approximately **446 million** transactions, a **64.6%** year-on-year increase, with agency settlement amounts exceeding **USD 2.57 billion**, up **100.8%**[37](index=37&type=chunk) - Launched the civil aviation industry's first airport digital RMB solution, 'Shu Bi Tong', which was put into operation at Changsha Huanghua International Airport[38](index=38&type=chunk) [Financial Position and Operating Performance Analysis](index=20&type=section&id=財務狀況與經營業績分析) In H1 2023, the group achieved significant profit growth, with total profit increasing 191.1% to **RMB 1.35 billion** and net profit attributable to parent company surging 171.0% to **RMB 1.20 billion**, driven by increased system processing volumes from recovering passenger traffic and demonstrating strong operating leverage [Overall Performance](index=20&type=section&id=總體業績) In H1 2023, the group's total profit reached **RMB 1.347 billion**, a 191.1% year-on-year increase, with net profit attributable to parent company shareholders at **RMB 1.20 billion**, up 171.0%, primarily due to increased system processing volumes from recovering domestic and international passenger traffic H1 2023 Performance Overview | Metric | Amount (RMB Million) | Year-on-Year Growth | | :--- | :--- | :--- | | Total Profit | 1,346.9 | +191.1% | | Net Profit Attributable to Parent Company | 1,200.4 | +171.0% | | Earnings Per Share | 0.41元 | +173.3% | [Revenue Analysis](index=21&type=section&id=收入分析) Total revenue grew 45.6% to **RMB 3.31 billion**, primarily driven by a 135.7% increase in aviation IT services revenue, while system integration services revenue decreased 46.5% and data network revenue declined 13.2% - Aviation information technology services revenue was the primary growth driver, increasing by **RMB 1.088 billion**, a **135.7%** year-on-year increase[41](index=41&type=chunk) - System integration services revenue decreased by **46.5%** year-on-year, mainly due to fewer projects meeting completion and acceptance criteria[41](index=41&type=chunk) [Cost Analysis](index=22&type=section&id=成本分析) Total operating costs increased 19.5% to **RMB 2.18 billion**, with commissions and promotion expenses surging 122.4% and technical support and maintenance fees rising 64.6%, while software and hardware sales costs decreased 38.7% Key Cost Item Changes | Cost Item | Year-on-Year Change | | :--- | :--- | | Personnel Costs | +13.1% | | Depreciation and Amortization | -3.7% | | Software and Hardware Sales Costs | -38.7% | | Commissions and Promotion Expenses | +122.4% | | Technical Support and Maintenance Fees | +64.6% | [Liquidity and Capital Structure](index=23&type=section&id=變現能力與資本結構) The company's working capital primarily stems from operating activities, with H1 net cash inflow of **RMB 1.01 billion**, period-end cash and cash equivalents of **RMB 8.58 billion**, total borrowings of **RMB 750 million**, and an asset-liability ratio of **26.2%**, reflecting prudent financial management and strategic investments [Cash and Liabilities](index=23&type=section&id=資金與負債) As of June 30, 2023, the group's cash and cash equivalents totaled **RMB 8.58 billion**, with total borrowings of **RMB 750 million**, and net cash inflow from operating activities of **RMB 1.01 billion**, indicating strong cash generation - Net cash inflow from operating activities amounted to **RMB 1.011 billion**[47](index=47&type=chunk) Period-End Cash and Borrowings (RMB Million) | Item | Amount | | :--- | :--- | | Cash and Cash Equivalents | 8,576.6 | | Total Borrowings | 753.4 | [Details of Financial Asset Investments](index=24&type=section&id=金融資產投資詳情) The company holds **RMB 3.5 billion** in structured bank deposits and **RMB 650 million** in time deposits, with an **RMB 836 million** fair value investment in China Merchants Renhe Life Insurance, which incurred a **RMB 217 million** loss in H1, and an actual contribution of **RMB 575 million** to China Mobile Equity Fund - The company holds a total of **RMB 3.5 billion** in financial assets held for trading (structured deposits)[51](index=51&type=chunk) - The investment in China Merchants Renhe Life Insurance has a fair value of **RMB 836 million**, with the company reporting a **RMB 217 million** loss in H1 2023, primarily due to increased reserves from falling interest rates and capital market volatility[53](index=53&type=chunk)[54](index=54&type=chunk)[55](index=55&type=chunk) - An actual contribution of **RMB 575 million** has been made to China Mobile Equity Fund, which primarily invests in the 5G and information and communication industries[57](index=57&type=chunk) [Other Financial Information](index=26&type=section&id=其他財務信息) As of June 30, 2023, the group had no asset pledges or significant contingent liabilities, with an asset-liability ratio of **26.2%**, H1 total capital expenditure of **RMB 363 million** for daily operations, and period-end capital expenditure commitments of approximately **RMB 1.09 billion** - The asset-liability ratio increased to **26.2%** from **21.9%** at the end of the prior year[58](index=58&type=chunk) - Total capital expenditure for H1 amounted to **RMB 363 million**, representing a year-on-year increase[60](index=60&type=chunk) [Staff Information](index=27&type=section&id=員工情況) As of June 30, 2023, the group had **6,721** employees, with H1 personnel costs of approximately **RMB 712 million**, accounting for **32.7%** of total operating costs, providing comprehensive compensation and benefits Staff and Personnel Costs | Metric | Value | | :--- | :--- | | Total Employees (number) | 6,721 | | Personnel Costs (RMB Million) | 712.2 | | Percentage of Total Operating Costs | 32.7% | [Outlook and Other Matters](index=28&type=section&id=展望與其他事項) [Future Outlook](index=28&type=section&id=未來展望) For H2 2023, despite global economic uncertainties, the group aims to ensure system security, enhance core system autonomy, unlock main business potential, explore emerging businesses, and deepen reforms to build a world-class enterprise, leveraging China's long-term economic growth and the civil aviation industry's recovery - The company will continue to ensure the secure operation of civil aviation information systems and enhance the autonomy and control of core systems[63](index=63&type=chunk) - Strategic priorities include fostering high-quality development of core businesses, exploring technology empowerment for emerging businesses, and advancing initiatives to benchmark against world-class enterprises[63](index=63&type=chunk) [Dividends and Share Repurchases](index=28&type=section&id=股息與證券回購) The Board recommends no interim dividend for H1 2023, and neither the company nor its subsidiaries repurchased, sold, or redeemed any listed securities during the period - The Board recommends no interim dividend for 2023[64](index=64&type=chunk) - There were no repurchases, sales, or redemptions of the company's listed securities during the period[64](index=64&type=chunk) [Corporate Governance](index=28&type=section&id=企業管治) The company maintains high corporate governance standards, adopting HKEX's Corporate Governance Code, with two deviations noted during the reporting period: the combined roles of Chairman and General Manager as a transitional arrangement, and delayed board re-election due to incomplete nominations - There was a deviation from Code Provision C.2.1, where the roles of Chairman and General Manager (President) were not separated, with Mr. Huang Rongshun holding both positions, which the company states is a transitional arrangement[66](index=66&type=chunk) - There was a deviation from Code Provision B.2.2, as the re-election of the Board of Directors was postponed due to incomplete nomination of new board candidates[66](index=66&type=chunk)

Business Overview - TravelSky's core business includes aviation IT services, distribution IT services, and aviation settlement and clearing services, catering to various industry participants [2]. - The group has over 20 subsidiaries in China and wholly-owned subsidiaries in regions such as Hong Kong, Singapore, and Ireland [3]. - The company is a leading supplier of information technology solutions for the aviation tourism industry in China, focusing on aviation IT services, distribution IT services, and settlement services [134]. Shareholder Information - As of December 31, 2022, the largest shareholder is China Civil Aviation Information Group, holding approximately 29.29% of the shares [3]. - As of December 31, 2022, the company's issued share capital was 2,926,209,589 shares, with domestic shares accounting for 68.13% and H shares for 31.87% [136]. - The percentage of shares held by major shareholders is calculated based on the total number of shares issued as of December 31, 2022 [142]. Financial Performance - Operating revenue for 2022 was RMB 5,210,106 thousand, a decrease of 4.9% compared to RMB 5,476,177 thousand in 2021 [41]. - Total profit for 2022 reached RMB 735,139 thousand, reflecting an increase of 10.8% from RMB 663,883 thousand in 2021 [41]. - Net profit attributable to shareholders for 2022 was RMB 626,499 thousand, up 13.6% from RMB 551,301 thousand in 2021 [41]. - Basic and diluted earnings per share for 2022 were RMB 0.21, compared to RMB 0.19 in 2021, representing a growth of 10.5% [41]. - Total assets as of December 31, 2022, amounted to RMB 25,236,452 thousand, an increase of 4.7% from RMB 24,111,139 thousand in 2021 [42]. - Total liabilities for 2022 were RMB 5,495,296 thousand, up 12.6% from RMB 4,881,056 thousand in 2021 [42]. Operational Highlights - The ETD system processing volume has ranked first globally for six consecutive years, with a processing volume of nearly 700 million passengers in 2021 [28]. - In 2022, the group processed approximately 249.3 million passenger trips through its electronic travel distribution (ETD) system, a decrease of about 42.4% compared to 2021 [50]. - The processing volume for domestic commercial airlines decreased by approximately 42.9%, while the processing volume for foreign and regional commercial airlines increased by approximately 81.5% [50]. - The group’s CRS system is directly connected to 154 foreign and regional commercial airlines, with a direct sales ratio of approximately 99.9% [50]. Technological Advancements - The "Aggregation" platform based on New Distribution Capability (NDC) received the highest NDC Level 4 certification from the International Air Transport Association [28]. - The company was recognized as a high-tech enterprise for 22 consecutive years and received multiple awards for technological advancements in 2022 [43]. - The company completed significant tasks related to passenger information systems during major events such as the Beijing Winter Olympics and the 20th National Congress of the Communist Party [26]. Employee and Corporate Governance - As of December 31, 2022, the group employed 6,570 staff members [3]. - The board of directors consists of nine members, with external directors accounting for more than half, including at least three independent non-executive directors [94]. - The company has established a transparent complaint and reporting management process to prevent bribery and corruption [93]. Risk Management and Compliance - The company has established a comprehensive risk management and internal control system to ensure the effectiveness of its strategic goals [116]. - The board believes that the internal control system is effective and sufficient, with no significant deficiencies identified during the evaluation period [117]. - The company conducts at least one internal control effectiveness check and risk assessment annually, addressing any identified deficiencies and significant risks [120]. Market and Future Outlook - The international passenger market is recovering rapidly, with the adjustment of pandemic control policies leading to an increase in international flights [48]. - Future outlook includes potential market expansion and new product development initiatives to drive growth in the upcoming fiscal periods [200]. Dividend and Shareholder Returns - The proposed final cash dividend for the year 2022 is RMB 155.1 million, which equates to RMB 0.053 per share, based on a total of 2,926,209,589 shares issued [74]. - The company has a consistent dividend policy, proposing a final cash dividend of RMB 0.053 per share for the year 2022, which represents approximately 30-40% of the company's after-tax profit [156]. Supplier and Customer Relations - The largest supplier for the company in 2022 was China Civil Aviation Information Group, accounting for 1.5% of the total operating costs (excluding depreciation and amortization) for the year [164]. - The largest customer, China Southern Airlines, contributed 8.4% to the company's revenue from goods sold or services provided in 2022 [165].

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，並明確表示概不就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） （股份編號：00696） 截至二零二二年十二月三十一日止 財政年度全年業績公佈 業績摘要： • 總收入約為人民幣5,210.1百萬元，較二零二一年度減少了約4.9%。 • 本集團歸屬於母公司股東淨利潤約為人民幣626.5百萬元，較二零二一年度增 加了約13.6%。 • 每股盈利為人民幣0.21元。 • 董事會建議派發二零二二年度以現金支付的末期股息每股人民幣0.053元。 茲提述中國民航信息網絡股份有限公司（「本公司」）所發佈的日期為二零二三年三月二 十三日之二零二二年度業績公告（「原業績公告」）和日期為二零二三年四月十日之有關 二零二二年度業績公告之澄清公告（「澄清公告」）。 ...

Financial Performance - The net profit for the year ended December 31, 2022, is clarified to be 679,277, not 679,227 as previously reported[1] - The board confirms that the clarification does not affect any other information in the annual performance announcement[1] - The announcement maintains all other data unchanged in both English and Chinese versions[1] - The document serves as a clarification rather than a new announcement, emphasizing accuracy in financial reporting[1] Governance and Leadership - The board of directors includes both executive and non-executive members, ensuring diverse oversight[1] - The board includes independent non-executive directors, enhancing governance and accountability[1] - The chairman of the board is Huang Rongshun, indicating leadership continuity[1] Company Information - The company is registered in the People's Republic of China, indicating its operational jurisdiction[1] - The company operates under stock code 00696, relevant for investors tracking its performance[1] Communication - The announcement was made on April 10, 2023, reflecting timely communication with stakeholders[1]

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，並明確表示概不就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） （股份編號：00696） 截至二零二二年十二月三十一日止 財政年度全年業績公佈 業績摘要： • 總收入約為人民幣5,210.1百萬元，較二零二一年度減少了約4.9%。 • 本集團歸屬於母公司股東淨利潤約為人民幣626.5百萬元，較二零二一年度增 加了約13.6%。 • 每股盈利為人民幣0.21元。 • 董事會建議派發二零二二年度以現金支付的末期股息每股人民幣0.053元。 中國民航信息網絡股份有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及其附屬 公司（「本集團」）截至二零二二年十二月三十一日止年度（「二零二二年度」）的按照中國企 業會計準則（「中國企業會計準則」）編製的經審計的綜合業績。 ...

Financial Performance - For the first half of 2022, the total revenue of TravelSky Technology Limited was RMB 2,272.0 million, a decrease of RMB 566.3 million or 20.0% compared to RMB 2,838.3 million in the same period of 2021[21]. - The pre-tax profit for the first half of 2022 was RMB 462.7 million, an increase of approximately 41.2% from RMB 327.6 million in the first half of 2021[20]. - The net profit attributable to shareholders for the first half of 2022 was RMB 443.0 million, up approximately 61.0% from RMB 275.2 million in the same period of 2021[20]. - Total operating revenue for the six months ended June 30, 2022, was RMB 2,271,990,839.04, a decrease of 20% from RMB 2,838,332,752.63 in the same period last year[77]. - Net profit for the period was RMB 455,820,238.46, representing an increase of 54.5% compared to RMB 294,904,534.90 in the previous year[78]. - Basic and diluted earnings per share were both RMB 0.15, up from RMB 0.09 in the same period last year, indicating a growth of 66.7%[79]. - The total comprehensive income for the period was RMB 457,921,316.41, an increase of 57.3% from RMB 291,167,477.35 in the same period last year[79]. Revenue Breakdown - The revenue from aviation information technology services accounted for 35.3% of total revenue, decreasing from 52.0% in the first half of 2021, with a drop from RMB 1,476.5 million to RMB 801.9 million, a decrease of 45.7%[21]. - The revenue from system integration services increased by 26.3% to RMB 600.3 million, up from RMB 475.2 million in the first half of 2021, accounting for 26.4% of total revenue[21]. - Data network revenue rose by 15.9% to RMB 232.3 million, compared to RMB 200.4 million in the first half of 2021, representing 10.2% of total revenue[21]. - Other income accounted for 21.9% of total revenue in the first half of 2022, down from 18.4% in the same period of 2021, with a decrease of 4.9% from RMB 522.0 million to RMB 496.4 million[22]. Operating Costs and Expenses - Total operating costs in the first half of 2022 were RMB 1,823.4 million, a decrease of RMB 337.5 million or 15.6% compared to RMB 2,160.9 million in the first half of 2021[24]. - Research and development expenses decreased to RMB 216,765,622.61 from RMB 293,664,655.80, a reduction of approximately 26.2%[77]. - The total operating costs, including taxes and additional expenses, were RMB 1,016,840,005.69, down from RMB 1,095,444,756.81, a decrease of about 7.2%[81]. - The company experienced a significant reduction in sales expenses, which fell to RMB 6,574,055.39 from RMB 10,393,367.81, a decrease of approximately 36.0%[81]. Cash Flow and Liquidity - Cash and cash equivalents as of June 30, 2022, amounted to RMB 5,555.9 million, with 94.6% in RMB, 4.5% in USD, and 0.4% in TWD[25]. - Operating cash inflow from operating activities was RMB 496.7 million in the first half of 2022[25]. - Cash flow from operating activities generated a net amount of RMB 496,670,492.62, down from RMB 998,910,751.45, reflecting a decline of approximately 50.3%[84]. - The total cash and cash equivalents at the end of the period were 5,555,889,791.20 RMB, compared to 4,426,355,098.00 RMB in the previous period, showing an increase in liquidity[85]. - The net increase in cash and cash equivalents was -783,712,750.32 RMB, contrasting with an increase of 61,419,616.31 RMB in the previous period, highlighting a challenging cash flow environment[85]. Investments and Assets - The fair value of the investment in China Merchants Renhe Life Insurance was approximately RMB 850.6 million as of June 30, 2022, accounting for 3.4% of the group's total assets[33]. - The investment in China Merchants Renhe Life Insurance reported a loss of RMB 247.5 million in the first half of 2022 due to initial investments in branch establishment and channel expansion[34]. - The company's total assets amounted to RMB 24,904,255,877.79, an increase from RMB 24,111,138,979.19 at the end of the previous year, representing a growth of approximately 3.29%[67]. - The company's current assets totaled RMB 16,551,289,296.26, up from RMB 15,638,632,722.94, indicating an increase of about 5.83% year-over-year[66]. - The total liabilities increased to RMB 5,378,032,427.21 from RMB 4,881,056,042.58, which is an increase of approximately 10.18%[69]. Shareholder Information - China Eastern Airlines Group holds approximately 9.17% of the company's total shares, equating to 182,743,500 domestic shares[46]. - Citigroup Inc. controls 58,284,676 H shares, representing 6.24% of the H share class and 1.99% of the total share capital[48]. - JPMorgan Chase & Co. holds 56,064,901 H shares, accounting for 6.01% of the H share class and 1.91% of the total share capital[49]. - BlackRock, Inc. possesses 47,536,609 H shares, which is 5.10% of the H share class and 1.62% of the total share capital[51]. - The total issued shares of the company as of June 30, 2022, are 2,926,209,589[52]. Corporate Governance - The company has adopted the Corporate Governance Code and has complied with all provisions except for a temporary deviation regarding the roles of Chairman and CEO[58]. - The board diversity policy has been revised to ensure gender diversity and limit nominations for individuals aged 70 and above[60]. - Liu Jianping was appointed as an executive director, and several new independent non-executive directors were appointed as of September 1, 2022[61]. - The company has maintained high levels of corporate governance and transparency in its operations[58]. Future Plans and Strategies - The company plans to invest a total of RMB 1 billion in the China Mobile Equity Fund, focusing on 5G applications and the information communication industry[37]. - The company aims to enhance its technological innovation capabilities and accelerate the construction of a dual-carbon work system[41]. - The company is focusing on safety and innovation to drive high-quality development amid a complex economic environment[41]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position as of June 30, 2022[100]. - The company recognizes revenue when the company fulfills its performance obligations, which occurs when the customer gains control of the related goods[198]. - Financial assets are classified into whole transfers and partial transfers, with gains or losses recognized based on the difference between the carrying amount and the consideration received[131].

Company Performance - The company reported a significant increase in system processing volume, ranking among the top globally for five consecutive years[3]. - Total revenue for the year ended December 31, 2021, was RMB 5,476,177,000, a slight decrease from RMB 5,485,577,000 in 2020[43]. - Total profit for the year ended December 31, 2021, was RMB 663,883,000, compared to RMB 314,161,000 in 2020, indicating a significant increase[43]. - Net profit attributable to shareholders for the year ended December 31, 2021, was RMB 551,301,000, up from RMB 362,800,000 in 2020[43]. - Basic and diluted earnings per share for the year ended December 31, 2021, were RMB 0.19, compared to RMB 0.12 in 2020[43]. - The company achieved a market capitalization exceeding HKD 50 billion as of February 7, 2021, marking its 20th anniversary of listing[40]. - The company reported a pre-tax profit of approximately RMB 663.9 million in 2021, an increase of about 111.3% compared to 2020[66]. - The net profit attributable to shareholders was approximately RMB 551.3 million, representing a year-on-year increase of about 52.0%[66]. Operational Growth - As of December 31, 2021, the company had 6,608 employees, reflecting its growth and operational scale[3]. - The company has established over 20 subsidiaries in China, including the China Aviation Settlement Co., Ltd.[3]. - The company successfully completed the acquisition of the entire registered capital and properties of the settlement company[34]. - The electronic ticketing system achieved 100% electronicization, earning the company the IATA Global Outstanding Contribution Award[34]. - The company has developed advanced products and services to meet the electronic transaction needs of all industry participants[3]. - The company is committed to expanding its market presence and enhancing its technological capabilities[3]. - The company established a new data center in Beijing Shunyi, further improving its operational capabilities[40]. Financial Overview - Total assets as of December 31, 2021, reached RMB 24,111,139 thousand, an increase from RMB 22,769,276 thousand in 2020, representing a growth of approximately 5.9%[46]. - Total liabilities as of December 31, 2021, were RMB 4,881,056 thousand, an increase from RMB 4,001,118 thousand in 2020, which is an increase of about 22%[46]. - The asset-liability ratio as of December 31, 2021, was 20.2%, up from 17.6% in 2020[88]. - The total capital expenditure for the year 2021 was RMB 867.7 million, down from RMB 941.8 million in 2020[89]. - The net cash flow from operating activities for the year ended December 31, 2021, was RMB 2,942.8 million, a significant increase from RMB 164.2 million in 2020[76]. Market Position and Recognition - The company has been recognized as a high-tech enterprise for 21 consecutive years, reflecting its commitment to innovation[40]. - The company has been included in major indices such as MSCI Emerging Markets Index and Hang Seng Composite Index, enhancing its market visibility[40]. - The company achieved a direct connection with 152 foreign airlines, covering over 400 cities domestically and internationally, and reached 33 countries and regions[54]. - The company received significant awards, including the 22nd China Patent Award for Excellence and the First Prize for Technological Progress in Civil Aviation[47]. Corporate Governance - The board of directors consists of nine members, with more than half being external directors, including three independent non-executive directors[94]. - The company fully complied with the corporate governance code during the fiscal year 2021[92]. - The company has established four specialized committees to oversee strategic investment, nominations, remuneration, and financial reporting, among other areas[104]. - The company’s independent non-executive directors confirmed their independence in accordance with listing rules during the reporting period[99]. Risk Management and Compliance - The company established a comprehensive risk management and internal control system to ensure the effectiveness of its operations[122]. - The company identified and assessed risks across strategic, market, operational, and financial domains, leading to a decrease in the likelihood and impact of significant risks[124]. - The audit report emphasizes the importance of internal controls to prevent material misstatements due to fraud or error[192]. - The company has maintained its accounting policies and practices without changes in auditors from 2018 to 2021[181]. Shareholder Information - The company maintains a stable dividend policy, proposing a final cash dividend of RMB 0.055 per share for the fiscal year 2021, representing approximately 30-40% of the net profit[145]. - The company’s largest shareholder, China Civil Aviation Information Group, holds approximately 29.29% of the shares[3]. - The company did not repurchase, sell, or redeem any of its listed securities during the year ended December 31, 2021[131]. Technological Advancements - The company is focusing on digital transformation and the construction of smart airports, driven by high-tech innovations such as cloud computing and artificial intelligence[48]. - The company developed a self-service check-in system (CUSS) compliant with IATA standards, which is used in 194 major airports, and online check-in services were applied in 246 airports, processing approximately 258 million departing passengers[51]. - The company launched a smart travel service platform, which won a first-class award for technological progress from the China Transportation Association[52]. Customer and Supplier Relations - The company aims to continuously improve customer satisfaction and loyalty through a customer demand-oriented service approach[151]. - The largest customer, China Southern Airlines, represented 8.9% of the company's revenue from goods sold or services provided in 2021[151]. - The company has established a supplier management mechanism to enhance supplier relationships and ensure compliance with relevant laws and regulations[150].

Financial Performance - For the first half of 2021, the company's profit before tax was RMB 327.6 million, an increase of RMB 582.9 million compared to a loss of RMB 255.3 million in the same period of 2020[19]. - The net profit attributable to shareholders was RMB 275.2 million, up RMB 598.4 million from a loss of RMB 323.2 million in the first half of 2020[19]. - Total revenue for the first half of 2021 was RMB 2,838.3 million, representing a 24.1% increase from RMB 2,286.6 million in the same period of 2020[20]. - The overall recovery in the civil aviation industry contributed significantly to the increase in revenue and profit for the first half of 2021[20]. - The net profit attributable to the parent company's shareholders increased from RMB -323.2 million in the first half of 2020 to RMB 275.2 million in the first half of 2021, representing an increase of RMB 598.4 million[23]. - Operating profit for the period was RMB 326,410,395.62, a significant recovery from an operating loss of RMB 261,298,686.68 in the prior period[59]. - Net profit for the six months was RMB 294,904,534.90, compared to a net loss of RMB 306,292,357.78 in the previous year, marking a turnaround[59]. - The total comprehensive income for the period was RMB 291,167,477.35, compared to a loss of RMB 303,541,527.33 in the previous period[60]. Revenue Breakdown - Revenue from aviation information technology services accounted for 52.0% of total revenue, increasing by 48.2% to RMB 1,476.5 million from RMB 996.3 million in the first half of 2020[20]. - Settlement and clearing revenue decreased by 24.6% to RMB 164.2 million, down from RMB 217.8 million, accounting for 5.8% of total revenue[21]. - System integration service revenue increased by 14.9% to RMB 475.2 million, representing 16.7% of total revenue[21]. - The company’s revenue primarily includes civil aviation information technology services, settlement and clearing services, data network services, and system integration services, with revenue recognized monthly for the first three categories and upon customer acceptance for system integration projects[151]. Cash Flow and Liquidity - The net cash inflow from operating activities for the first half of 2021 was RMB 998.9 million, indicating strong liquidity[23]. - As of June 30, 2021, the group's cash and cash equivalents amounted to RMB 4,426.4 million, with 94.3% in RMB, 4.5% in USD, and 0.5% in TWD[23]. - The cash inflow from operating activities was RMB 2,107,028,667.45, compared to RMB 1,181,450,406.18 in the prior period, representing an increase of approximately 78.2%[65]. - The cash flow from financing activities resulted in a net outflow of RMB -31,945,476.17, compared to a net outflow of RMB -24,129,223.97 in the previous period[66]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 20,558,079,440.44, an increase from RMB 20,093,659,533.52 at the end of the previous year[55]. - Total liabilities reached RMB 5,192,682,450.28, compared to RMB 4,956,176,829.14 in the previous year, marking an increase of about 4.7%[57]. - The asset-liability ratio as of June 30, 2021, was 20.0%, up from 17.6% on December 31, 2020[28]. - The company reported a decrease in long-term investments, with long-term equity investments at CNY 661,449,727.55, down from CNY 670,124,379.69, a decline of approximately 1.0%[52]. Employee and Operational Costs - Employee costs for the first half of 2021 amounted to approximately RMB 754.1 million, representing about 34.9% of total operating costs[30]. - Total operating costs for the first half of 2021 were RMB 2,160.9 million, an increase of 10.4% from RMB 1,957.3 million in the same period of 2020[22]. - Commission and promotion expenses rose by 39.0%, primarily due to increased business promotion efforts[22]. Investments and Share Capital - The company has committed capital expenditures of approximately RMB 948.0 million, primarily for daily operations, computer system maintenance, and R&D upgrades[29]. - The issued share capital as of June 30, 2021, was 2,926,209,589 shares, with 68.13% being domestic shares and 31.87% being H-shares[36]. - The stock appreciation rights plan has a total of 34,582,624 H-shares, accounting for approximately 1.18% of the company's total issued share capital[32]. Corporate Governance and Compliance - The company has complied fully with the corporate governance code during the first half of 2021[46]. - The audit and risk management committee reviewed the unaudited interim results for the six months ended June 30, 2021[47]. - The company published its unaudited financial statements for the six months ended June 30, 2021, in accordance with Chinese accounting standards[50]. Future Outlook and Strategic Focus - The company aims to enhance its information technology solutions and services in response to diverse passenger demands and ongoing pandemic challenges[33]. - The company will focus on high-quality development, including pandemic prevention, risk management, and innovation capabilities[33]. - Future outlook includes potential strategies for market expansion and new product development, although specific figures were not provided[68]. Taxation and Financial Policies - The company benefits from a 15% income tax rate due to its classification as a high-tech enterprise[1]. - The applicable corporate income tax rate for the company is 25%, with some subsidiaries benefiting from reduced rates of 15%[185][187]. - The company has implemented a VAT policy allowing a 10% deduction on payable tax amounts, applicable until December 31, 2021[192].

中 国 航 信 TravelSky 中國民航信息網絡股份有限公司 TravelSky Technology Limited (在中華人民共和國註冊成立的股份有限公司) (股份代號：00696) ANNIVERSARY 公司簡介 中國民航信息網絡股份有限公司（「本公司」連同附屬公司合稱「本集團」）是中國航空旅遊業信息技術解決方案 的主導供應商。本公司的核心業務包括航空信息技術服務、分銷信息技術服務、航空結算及清算服務等。 本集團一直致力於開發先進的產品及服務 ，滿足所有行業參與者（從商營航空公司 、機場 、航空旅遊產品和 服務供應商到旅遊分銷代理人 、機構客戶 、旅客及貨運商）進行電子交易及管理與行程相關信息的需求 。 本公司於二零零零年十月十八日在中華人民共和國（「中國」）註冊成立 ，本公司之H股於二零零一年二月七日 在香港聯合交易所有限公司（「聯交所」）上市 ，股份代號：00696。二零零二年十二月二十七日，本公司建立 的第一級美國預托證券憑證計劃之美國預托證券在美國場外證券市場(OTC)開始進行交易。二零一五年起， 本公司H股先後被納入MSCI新興市場指數、恆生綜合大中型股指數、滬港通及深港通名單等。 於 ...

Financial Performance - Total revenue for the six months ended June 30, 2020, was RMB 2,286,551 thousand, a decrease of 40.5% compared to RMB 3,844,269 thousand for the same period in 2019[4]. - Operating loss for the period was RMB 389,530 thousand, compared to an operating profit of RMB 1,553,062 thousand in the same period last year[4]. - Net loss after tax was RMB 306,294 thousand, compared to a profit of RMB 1,442,551 thousand for the same period in 2019[5]. - The basic and diluted loss per share attributable to owners of the company was RMB (0.11), compared to earnings of RMB 0.49 per share in the previous year[5]. - The company reported a pre-tax loss of RMB 323.2 million for the six months ended June 30, 2020, compared to a profit of RMB 1.42 billion for the same period in 2019, representing a significant decline[24]. - Profit attributable to equity holders decreased from RMB 1,423.0 million in the first half of 2019 to RMB -323.2 million in the first half of 2020, a decrease of RMB 1,746.2 million or 122.7%[56]. Revenue Breakdown - Revenue from aviation information technology services was RMB 996,322 thousand, down 55.3% from RMB 2,223,994 thousand year-on-year[4]. - Revenue from aviation information technology services accounted for 43.6% of total revenue in the first half of 2020, down from 57.9% in the same period of 2019, with a decrease of 55.2% from RMB 2,224.0 million to RMB 996.3 million[52]. - The settlement and clearing revenue represented 9.5% of total revenue in the first half of 2020, increasing from 7.9% in the same period of 2019, with a decrease of 28.0% from RMB 302.5 million to RMB 217.8 million[52]. - System integration service revenue accounted for 18.1% of total revenue in the first half of 2020, up from 12.4% in the same period of 2019, with a decrease of 13.5% from RMB 478.0 million to RMB 413.6 million[52]. Assets and Liabilities - Total assets as of June 30, 2020, were RMB 22,239,529 thousand, down from RMB 23,646,384 thousand as of December 31, 2019[6]. - The company's total liabilities decreased to RMB 4,155,580 thousand from RMB 4,412,868 thousand at the end of 2019[7]. - The company’s total equity as of June 30, 2020, was RMB 18,083,949 thousand, an increase from RMB 17,427,560 thousand as of January 1, 2019[10]. - The company’s retained earnings as of June 30, 2020, were RMB 9,261,745 thousand, a decrease from RMB 9,294,058 thousand as of January 1, 2019[10]. Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2020, was a negative RMB 206,252 thousand, compared to a positive RMB 1,136,530 thousand in the same period of 2019[11]. - The company reported a net cash inflow from investing activities of RMB 1,146,425 thousand for the six months ended June 30, 2020, compared to a net cash outflow of RMB 1,516,696 thousand in the same period of 2019[11]. - Cash and cash equivalents increased to RMB 5,442,627 thousand from RMB 4,546,791 thousand at the end of 2019[6]. Operational Metrics - The number of flight bookings processed by the company's electronic travel distribution system decreased by about 55.9% year-on-year, with domestic bookings down 54.6% and international bookings down 90.5%[48]. - The company processed approximately 343.9 million transactions in its settlement and clearing system, with a total transaction amount exceeding USD 3.1 billion in the first half of 2020[49]. - The company’s airport passenger processing system served 144 foreign and regional airlines, with a total of 2 million departing passengers, a decline of approximately 78.9% year-on-year[48]. Cost Management - Total operating costs increased by RMB 384.9 million or 16.8%, from RMB 2,291.2 million in the first half of 2019 to RMB 2,676.1 million in the first half of 2020[54]. - Employee costs for the first half of 2020 amounted to RMB 6.878 billion, representing approximately 25.7% of total operating costs[69]. - Commission and promotion expenses decreased by 56.2% due to reduced business promotion activities caused by the pandemic[54]. Investments and Capital Expenditures - The company has committed capital expenditures totaling RMB 1.22 billion for ongoing projects, including computer system maintenance and the construction of a new operations center[43]. - The company has invested RMB 390 million in a partnership fund focused on 5G and information communication industries, with a total commitment of RMB 1 billion[44]. - The company purchased property, plant, and equipment valued at approximately RMB 338 million during the six months ended June 30, 2020, down from RMB 591 million for the same period in 2019, a decrease of about 42.7%[27]. Corporate Governance - The company fully complied with the Corporate Governance Code during the first half of 2020[83]. - The independent non-executive directors' remuneration will be dynamically adjusted based on annual performance evaluations starting from 2020, with a base monthly allowance of RMB 5,000 (pre-tax) per person[188]. - The Audit and Risk Management Committee reviewed the unaudited interim results for the six months ending June 30, 2020[86]. Shareholder Information - As of June 30, 2020, the total issued share capital of the company was 2,926,209,589 shares, with 68.13% being domestic shares and 31.87% being H-shares[74]. - Major shareholders include China Civil Aviation Information Group Co., Ltd. with 43.00% of domestic shares and China Eastern Airlines Group Co., Ltd. with 16.46% of domestic shares[77]. - The company’s major shareholders include both domestic and international financial institutions, indicating a diverse investor base[182].