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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不會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。 00753 海外監管公告 向特定對象發行A股股票申請獲得中國證監會同意註冊批復 茲提述中國國際航空股份有限公司（「本公司」或「公司」）關於（其中包括）向特定對象發行A 股股票的日期為二零二三年十二月二十二日及二零二四年一月二十六日之公告以及日期 為二零二四年一月九日之通函。 本公司於近日收到中國證券監督管理委員會（「中國證監會」）出具的《關於同意中國國際航 空股份有限公司向特定對象發行股票註冊的批復》（證監許可[2024]1562號）（「批復」），批 復主要內容如下： - 1 - 一、 同意你公司向特定對象發行股票的註冊申請。 二、 你公司本次發行應嚴格按照報送上海證券交易所的申報文件和發行方案實施。 三、 本批復自同意註冊之日起12個月內有效。 四、 自同意註冊之日起至本次發行結束前，你公司如發生重大事項，應及時報告上海證 券交易所並按有關規定處理。 公司董事會將按照相關法律法規和上述批復文件的要求以 ...

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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不會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。 00753 持續關連交易 持續關連交易 (1) 中航集團公司交易 茲提述有關（其中包括）本公司持續關連交易之二零二一年通函。本公司預期二零二一 年通函所載的若干持續關連交易將於二零二四年十二月三十一日後繼續進行，因此， 本公司將繼續根據香港上市規則的規定，在未來三年（即二零二五年一月一日至二零 二七年十二月三十一日）內就進行該等持續關連交易遵守香港上市規則第14A章的規 定。 (2) 國貨航交易 茲提述本公司日期為二零二二年九月二十日的公告及本公司日期為二零二二年九月二 十八日的通函，內容有關（其中包括）國貨航交易。國貨航框架協議的現時年期將於二 零二四年十二月三十一日屆滿。由於本公司預期將於二零二四年十二月三十一日後繼 續進行國貨航交易，故董事會決議於二零二四年十月三十日續展國貨航框架協議，自 二零二五年一月一日起至二零二七年十二月三十一日止為期三年，惟須獲得獨立股東 於臨時股東大會上批准後，方可進行 ...

Financial Performance - The company's operating revenue for Q3 2024 reached RMB 48,629,587, representing a year-on-year increase of 6.03%[3] - Net profit attributable to shareholders for the same period was RMB 4,144,237, showing a decrease of 2.31% compared to the previous year[3] - For the year-to-date period, the operating revenue totaled RMB 128,149,919, reflecting a significant increase of 21.50% year-on-year[3] - The net profit attributable to shareholders for the year-to-date period was RMB 1,361,747, which is a substantial increase of 72.06% compared to the same period last year[3] - Basic earnings per share for Q3 2024 were RMB 0.26, down 7.14% from the previous year[3] - Total operating revenue for the first three quarters of 2024 reached RMB 128,149,919 thousand, an increase from RMB 105,476,845 thousand in the same period of 2023, representing a growth of approximately 21.5%[19] - Net profit for the first three quarters of 2024 was RMB 769,271 thousand, compared to RMB 1,186,837 thousand in the same period of 2023, reflecting a decrease of approximately 35.1%[20] - Total comprehensive income for the first three quarters of 2024 reached 889,405 thousand RMB, down from 1,095,486 thousand RMB in the same period of 2023, representing a decrease of approximately 19%[21] - The net income attributable to the parent company for the first three quarters of 2024 was 1,497,545 thousand RMB, compared to 725,463 thousand RMB in 2023, indicating an increase of about 106%[21] - Basic and diluted earnings per share for the first three quarters of 2024 were both 0.09 RMB, up from 0.05 RMB in the same period of 2023, reflecting an increase of 80%[21] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 344,550,972, an increase of 2.76% from the end of the previous year[4] - Total assets as of September 30, 2024, amounted to RMB 228,028,250 thousand, a slight decrease from RMB 232,487,254 thousand at the end of 2023[31] - Total liabilities as of September 30, 2024, amounted to RMB 306,569,088 thousand, slightly up from RMB 300,014,685 thousand at the end of 2023[17] - Current liabilities totaled RMB 150,514,322 thousand as of September 30, 2024, compared to RMB 110,317,274 thousand at the end of 2023, marking an increase of about 36.4%[16] - Non-current liabilities decreased to RMB 156,054,766 thousand as of September 30, 2024, from RMB 189,697,411 thousand at the end of 2023, a reduction of approximately 17.7%[17] - The company's total equity attributable to shareholders was RMB 40,543,145 thousand as of September 30, 2024, up from RMB 37,229,962 thousand at the end of 2023, indicating an increase of about 6.2%[17] Cash Flow - Cash flow from operating activities for the first three quarters of 2024 was 30,741,937 thousand RMB, a decrease from 33,075,596 thousand RMB in 2023, representing a decline of approximately 10%[23] - Cash flow from investing activities showed a net outflow of 10,239,569 thousand RMB in the first three quarters of 2024, compared to a net outflow of 6,409,144 thousand RMB in 2023, indicating a worsening of cash flow by about 60%[24] - Cash flow from financing activities resulted in a net outflow of 15,283,175 thousand RMB for the first three quarters of 2024, slightly improved from a net outflow of 15,909,432 thousand RMB in 2023[24] - The net cash flow from operating activities for the first three quarters of 2024 was RMB 19,770,703 thousand, a decrease of about 8.7% from RMB 21,719,076 thousand in 2023[35] - The cash inflow from investment activities was RMB 725,365 thousand in the first three quarters of 2024, down from RMB 892,722 thousand in 2023, indicating a decline of about 18.7%[36] - The cash outflow for purchasing fixed assets and other long-term assets was RMB 9,799,748 thousand in 2024, compared to RMB 11,746,131 thousand in 2023, showing a decrease of approximately 16.6%[35] Shareholder Information - The company has a total of 160,825 common shareholders at the end of the reporting period[9] - The total number of unrestricted shares held by the top 10 shareholders amounts to 11,000,000,000 shares, with China Aviation Group holding 6,566,761,847 shares, representing 51.32% of the total[10] Future Plans and Investments - The company plans to introduce 100 C919 aircraft, which was approved in the second extraordinary general meeting of shareholders on August 9, 2024[12] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer service[22] - The company plans to implement new accounting standards starting in 2024, which may impact financial reporting[38]

（於中華人民共和國註冊成立的股份有限公司） （股份代號：00753） 海外市場公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條的規定而發表。 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之內容概不負責，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。 䇱ࡨԓ⸱˖601111 㛑⾘ㆰ〠˖ѝഭഭ㡚 ޜ㕆ਧ˖2024-044 附件為中國國際航空股份有限公司於上海證券交易所刊發之 中國國際航空股份有限公司 (1)第六屆監事會第十九次會議決議公告 (2)第六屆董事會第三十三次會議決議公告 (3)2024年度「提質增效重回報」行動方案 承董事會命 中國國際航空股份有限公司 聯席公司秘書 肖烽 浩賢 中國北京，二零二四年十月三十日 於本公告日期，本公司的董事為馬崇賢先生、王明遠先生、崔曉峰先生、賀以禮先生、 肖鵬先生、禾雲先生*、徐俊新先生*及譚允芝女士*。 * 本公司獨立非執行董事 ѣളള䱻㡠グ㛗Գᴿ䲆ޢਮ ㅢޣኀⴇӁՐㅢॷғ⅗Ր䇤ߩ䇤ޢ ᵜޜਨⴁһՊ৺ޘփⴁһ؍䇱ᵜޜᇩнᆈ൘ԫօ㲊ۇٴ䇠䖭ǃ䈟ሬᙗ䱸䘠 ...

Investment Rating - The report maintains an "Accumulate" rating for China National Aviation (China National Airlines) [2][7]. Core Views - The aviation demand shows resilience, and supply-demand dynamics are expected to continue recovering. The company is projected to see a significant increase in profitability as supply-demand conditions improve [6][7]. - The report anticipates a net profit of -2.8 billion RMB for the first half of 2024, indicating a continued reduction in losses compared to the previous year [7]. - The company is adjusting its net profit forecasts for 2024 and 2025 to 0.8 billion and 6.1 billion RMB respectively, while introducing a new forecast of 15 billion RMB for 2026 [7]. Financial Summary - Revenue is expected to rise from 52.9 billion RMB in 2022 to 141.1 billion RMB in 2023, reflecting a 167% increase. Projections for 2024, 2025, and 2026 are 169.9 billion, 182.5 billion, and 199.1 billion RMB respectively, with growth rates of 20%, 7%, and 9% [5]. - Gross profit is forecasted to improve from a loss of 29.9 billion RMB in 2022 to a profit of 7.1 billion RMB in 2023, with further increases to 10.8 billion, 19.8 billion, and 31.8 billion RMB in the following years [5]. - Net profit is projected to shift from a loss of 38.6 billion RMB in 2022 to a loss of 1.0 billion RMB in 2023, followed by profits of 0.8 billion, 6.1 billion, and 14.9 billion RMB in 2024, 2025, and 2026 respectively [5]. Market Position and Strategy - The company is focusing on optimizing its high-quality flight network, which is expected to enhance long-term value despite short-term pressures [7]. - The report highlights that the company’s fleet size has increased by 14% compared to 2019, with a 5% increase in available seat kilometers (ASK), although recovery in wide-body aircraft operations remains slow [7]. - The strategic acquisition of Shandong Airlines is expected to bolster the company’s market position, enhancing its operational capabilities and profitability potential [7].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 79,520,332 thousand, an increase from RMB 59,613,193 thousand for the same period in 2023, representing a growth of approximately 33.4%[7] - The company reported a net loss attributable to shareholders of RMB 2,778,953 thousand for the six months ended June 30, 2024, compared to a loss of RMB 3,446,814 thousand for the same period in 2023, indicating a reduction in loss of about 19.4%[7] - EBITDA for the first half of 2024 was RMB 12,943,313 thousand, up from RMB 11,806,583 thousand in the first half of 2023, reflecting an increase of approximately 9.6%[7] - The loss per share attributable to shareholders was RMB 0.1767 for the first half of 2024, an improvement from RMB 0.2239 for the same period in 2023[7] - The return on equity attributable to shareholders was -7.60% for the first half of 2024, compared to -9.87% for the same period in 2023, indicating an improvement in performance[7] - The company achieved a revenue increase of 14.02% year-on-year, with a total operating income of RMB 451.12 billion[22] - The company achieved operating revenue of RMB 79.52 billion, an increase of RMB 19.91 billion or 33.39% year-on-year[26] - Passenger revenue reached RMB 73.14 billion, up RMB 17.67 billion or 31.85% compared to the same period last year[30] - The company reported a total equity attributable to shareholders of RMB 33,848,676 thousand as of June 30, 2024, up from RMB 32,894,309 thousand at the end of June 2023[80] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 345,400,348 thousand, compared to RMB 335,278,694 thousand as of December 31, 2023, showing an increase of about 3.3%[8] - Total liabilities increased to RMB 311,551,672 thousand as of June 30, 2024, from RMB 300,014,685 thousand as of December 31, 2023, representing a rise of approximately 3.9%[8] - The company’s equity attributable to shareholders was RMB 36,587,810 thousand as of June 30, 2024, slightly down from RMB 37,205,975 thousand as of December 31, 2023, indicating a decrease of about 1.7%[8] - The debt-to-asset ratio was 90.20%, an increase of 0.72 percentage points from December 31, 2023[45] - The group reported a net current liability of approximately RMB 98.437 billion as of June 30, 2024, indicating the need for effective cash flow management and external financing[83] - The group has unutilized bank credit facilities amounting to RMB 137.765 billion, which supports its ability to meet debt repayment and capital expenditure needs[83] Operational Metrics - Available seat kilometers increased to 171,790.89 million, up 33.38% year-over-year[10] - International available seat kilometers surged by 210.41% to 44,082.60 million[10] - Passenger numbers reached 74,959.47 thousand, a 34.95% increase compared to the previous year[10] - Cargo and mail carried increased by 63.37% to 701,598.29 tons[10] - The overall load factor for revenue ton kilometers increased to 65.86%, up 7.70 percentage points[11] - The passenger load factor improved by 8.77 percentage points to 79.29%[29] - The fleet size reached 915 aircraft with an average age of 9.64 years[12] - The company introduced 16 new aircraft while retiring 6 during the reporting period[12] Cost and Expenses - Operating expenses for the reporting period amounted to RMB 83.85 billion, an increase of RMB 19.27 billion or 29.84% year-on-year[34] - Fuel costs increased by RMB 7.785 billion, primarily due to higher fuel consumption and rising fuel prices[35] - Depreciation and amortization expenses rose by RMB 1.321 billion, driven by fleet expansion and increased flight hours[35] - The cost of aviation fuel for the six months ended June 30, 2024, was RMB 27,132,269 thousand, compared to RMB 19,346,786 thousand in the same period of 2023, reflecting an increase of approximately 40%[76] - The company’s total operating expenses for the six months ended June 30, 2024, were RMB 83,853,154 thousand, compared to RMB 64,581,269 thousand in the same period of 2023, representing an increase of approximately 29.8%[76] Cash Flow and Financing - The net cash inflow from operating activities was RMB 14.253 billion, a decrease of 11.70% compared to RMB 16.142 billion in the same period of 2023[46] - The net cash outflow from investing activities increased by 302.52% to RMB 8.177 billion, compared to RMB 2.032 billion in the same period of 2023, primarily due to the acquisition of a subsidiary[46] - The net cash outflow from financing activities was RMB 1.154 billion, compared to a cash inflow of RMB 1.046 billion in the same period of 2023[46] - The company has secured a maximum bank credit line of RMB 230.587 billion, with approximately RMB 92.922 billion utilized and RMB 137.665 billion available for future capital expenditures[46] Market and Strategic Initiatives - The company continues to focus on expanding its fleet and enhancing operational efficiency to drive future growth[9] - Air China aims to maintain its position as a leading global airline while pursuing safety, service excellence, and sustainable development strategies[9] - The company has significantly increased domestic market capacity investment, focusing on enhancing competitive advantages through the establishment of domestic express routes[17] - International routes are being steadily expanded, with a focus on resuming and launching new routes, improving the international freight product system[17] - The company is focusing on digital transformation in service delivery, enhancing the overall customer experience through upgraded service management systems[18] - The company has plans for market expansion and new product development, focusing on enhancing operational efficiency and customer experience[79] Shareholder Information - China International Airlines reported a total of 6,566,761,847 shares held by the controlling shareholder, China Aviation Group, representing 39.57% of the total shares[55] - The company has 158,726 total ordinary shareholders, with 2,879 being H-share registered shareholders[57] - The top ten shareholders include Cathay Pacific Airways, holding 2,633,725,455 H-shares, which accounts for 15.87% of the total shares[57] - The company completed the issuance of 392,927,308 H-shares at a price of HKD 5.09 per share, raising a net amount of approximately HKD 1,998,769,803.79[62] - The company does not plan to distribute an interim dividend for the six months ending June 30, 2024[69] Compliance and Governance - The company has adhered to the Corporate Governance Code and the Standard Code throughout the reporting period[62] - The financial statements are prepared in accordance with International Financial Reporting Standards[158] - The report highlights the importance of compliance with the Hong Kong Listing Rules and Securities and Futures Ordinance[158] - The company is committed to maintaining transparency and accuracy in its financial reporting[158]

Financial Performance - The company reported total revenue of RMB 82,771,182 thousand for the six months ended June 30, 2024, an increase of 30.8% compared to RMB 63,683,069 thousand for the same period in 2023[2]. - Operating loss for the period was RMB 1,081,972 thousand, compared to a loss of RMB 898,200 thousand in the previous year, indicating a deterioration in operational performance[2]. - The net loss attributable to shareholders was RMB 2,778,953 thousand, an improvement from a loss of RMB 3,446,814 thousand in the same period last year[2]. - Basic and diluted loss per share was RMB 17.67, compared to RMB 22.39 for the same period in 2023, reflecting a reduction in loss per share[2]. - Other income and gains for the six months ended June 30, 2024, totaled RMB 3,250,850 thousand, compared to RMB 4,069,876 thousand in the previous year, indicating a decrease of approximately 20.1%[19]. - The income tax expense for the six months ended June 30, 2024, was RMB 252,536 thousand, compared to a tax benefit of RMB (316,216) thousand in the same period of 2023[20]. Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was RMB 79,520,332 thousand, an increase from RMB 59,613,193 thousand for the same period in 2023, representing a growth of approximately 33.3%[15]. - Revenue from customer contracts in the aviation operations segment reached RMB 77,325,137 thousand, up from RMB 57,574,893 thousand in the previous year, indicating a growth of about 34.4%[11]. - Revenue from external customers in mainland China was RMB 57,960,673 thousand, contributing to 72.8% of total revenue, compared to RMB 50,342,825 thousand in the previous year[17]. - Air transport revenue reached RMB 76.47 billion, up RMB 19.59 billion or 34.43% compared to the previous year[37]. - International revenue contribution was RMB 19.08 billion, accounting for 23.99% of total revenue, with a significant increase of 153.00% year-on-year[38]. - Domestic revenue from mainland China was RMB 57.96 billion, representing 72.89% of total revenue, with a growth of 15.13% year-on-year[38]. Operational Metrics - Available seat kilometers (ASK) increased by 33.38% to 171,790.89 million in the first half of 2024, compared to 128,799.56 million in the same period of 2023[27]. - Passenger numbers rose by 34.95% to 74,959.47 thousand in the first half of 2024, compared to 55,544.89 thousand in the same period of 2023[27]. - The cargo and mail tonnage increased by 82.85% to 2,262.37 tons in the first half of 2024, compared to 1,237.31 tons in the same period of 2023[27]. - The company completed 1.438 million safe flight hours during the reporting period, ensuring operational safety[31]. - The company’s operational efficiency is assessed through metrics such as passenger load factor and cargo load factor[67]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 345,400,348 thousand, an increase from RMB 335,278,694 thousand as of December 31, 2023[4]. - The net current liabilities as of June 30, 2024, were approximately RMB 98.44 billion, compared to RMB 77.98 billion at the end of 2023, reflecting an increase of around 26.2%[6]. - The company’s total liabilities, including non-current liabilities, were RMB 170,219,360 thousand as of June 30, 2024, compared to RMB 189,697,411 thousand at the end of 2023, indicating a reduction of approximately 10.3%[5]. - The company’s equity attributable to shareholders was RMB 36,587,810 thousand as of June 30, 2024, down from RMB 37,205,975 thousand at the end of 2023, reflecting a decrease of about 1.7%[5]. - The debt-to-asset ratio was 90.20%, an increase of 0.72 percentage points from December 31, 2023[55]. Cash Flow and Investments - The company reported cash and cash equivalents of RMB 19,963,866 thousand, up from RMB 15,016,804 thousand at the end of 2023, indicating improved liquidity[4]. - Net cash inflow from operating activities was RMB 14.25 billion, a decrease of 11.70% from RMB 16.14 billion in the same period last year[55]. - Capital expenditures for the period were RMB 5.92 billion, with RMB 4.05 billion allocated for aircraft and engine investments[50]. - The group’s cash outflow from investing activities increased by 302.52% to RMB 8.18 billion compared to RMB 2.03 billion in the same period last year[55]. Cost Management - The company’s operating expenses totaled RMB 83,853,154 thousand, up from RMB 64,581,269 thousand in the previous year, reflecting increased operational costs[2]. - Operating expenses totaled RMB 83.85 billion, up 29.84% year-on-year, primarily due to increased fuel costs and higher maintenance expenses[44]. - Fuel costs increased by RMB 7.79 billion, largely due to higher fuel consumption and prices[45]. - Cost control measures are being implemented to optimize labor costs and improve financial efficiency[32]. Aircraft and Fleet Management - The average aircraft age in the fleet is 9.64 years, with a total of 915 aircraft, including 496 owned by the company[29]. - The company introduced 16 new aircraft during the reporting period while retiring 6 aircraft, resulting in a net increase in fleet size[29]. - A purchase agreement for 100 C919 aircraft was signed with COMAC for a total price of approximately USD 10.8 billion, approved by shareholders on August 9, 2024[63]. Governance and Compliance - The company continues to operate under the revised International Financial Reporting Standards, which did not have a significant impact on the financial position or performance for the current and prior periods[9]. - The company emphasizes its commitment to risk management and audit oversight through its Audit and Risk Management Committee[66]. - The company’s financial reporting adheres to the guidelines set forth by the Hong Kong Stock Exchange Listing Rules[70]. - The company operates under various accounting standards, including Chinese Accounting Standards and International Financial Reporting Standards[68].

Financial Performance - Operating revenue for Q1 2024 reached RMB 40,065,742, representing a year-on-year increase of 59.83%[2] - Net profit attributable to shareholders was a loss of RMB 1,674,456, with a significant reduction in losses compared to the previous year[2][5] - The operating profit for Q1 2024 improved to RMB -1,946,659 thousand, compared to RMB -3,294,946 thousand in Q1 2023, indicating a reduction in losses[17] - The net profit for Q1 2024 was RMB -2,001,897 thousand, an improvement from RMB -3,273,648 thousand in Q1 2023, reflecting a positive trend in financial performance[17] - In Q1 2024, the total comprehensive income amounted to -2,063,807 thousand RMB, an improvement from -3,635,719 thousand RMB in Q1 2023[18] - The company reported investment income of RMB 621,078 thousand from associates and joint ventures in Q1 2024, down from RMB 737,421 thousand in Q1 2023[16] - The company reported a basic earnings per share of -0.11 RMB in Q1 2024, an improvement from -0.19 RMB in Q1 2023[18] Cash Flow and Liquidity - Net cash flow from operating activities amounted to RMB 9,407,344, reflecting a year-on-year increase of 38.42%[2][5] - The net cash flow from operating activities for Q1 2024 was 9,407,344 thousand RMB, compared to 6,796,158 thousand RMB in Q1 2023, reflecting a 38.5% increase[20] - The net cash flow from investing activities in Q1 2024 was -2,510,272 thousand RMB, a significant decrease from 3,428,079 thousand RMB in Q1 2023[21] - The company issued bonds in Q1 2024, raising 2,000,000 thousand RMB, while total cash inflow from financing activities was 15,036,658 thousand RMB[21] - The net increase in cash and cash equivalents for Q1 2024 was 6,918,500 thousand RMB, compared to 21,444,490 thousand RMB in Q1 2023[22] - Cash and cash equivalents at the end of Q1 2024 totaled 21,935,304 thousand RMB, down from 32,052,201 thousand RMB at the end of Q1 2023[22] - As of March 31, 2024, the company's cash and cash equivalents amounted to RMB 22,467,149,000, up from RMB 15,628,496,000 as of December 31, 2023[13] Assets and Liabilities - Total assets at the end of the reporting period were RMB 341,316,757, an increase of 1.79% from the previous year[2] - The total assets as of March 31, 2024, amounted to RMB 341,316,757 thousand, up from RMB 335,302,681 thousand as of December 31, 2023[15] - The total liabilities increased to RMB 306,276,826 thousand as of March 31, 2024, compared to RMB 300,014,685 thousand at the end of 2023[15] - The company’s total non-current liabilities as of March 31, 2024, were RMB 183,163,969 thousand, a slight decrease from RMB 189,697,411 thousand at the end of 2023[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 167,174[7] - The largest shareholder, China National Aviation Holding Company, holds 39.57% of the shares, with a total of 6,566,761,847 shares[8] - The total number of shares held by the largest shareholder, China Aviation Group, increased from 8,123,096,767 shares (50.14%) to 8,516,024,075 shares (51.32%) after the issuance of new shares[12] - The total number of shares held by Cathay Pacific Airways remained unchanged at 2,633,725,455 shares, representing 15.87% of the total share capital post-issuance[12] - The company is subject to shareholding restrictions, with 127,445,536 and 36,454,464 shares held by major shareholders currently frozen[10] Operational Strategy - The company has strengthened cost control measures, contributing to a significant reduction in losses despite increased revenue[5] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer experience[16] - The company plans to hold its first extraordinary general meeting of 2024 on January 26, 2024, to discuss the issuance of A-shares and H-shares[11] Inventory and Current Assets - The total current assets increased to RMB 40,633,024,000 from RMB 32,334,721,000 during the same period[13] - The inventory, including data resources, rose to RMB 4,580,834,000 from RMB 3,682,821,000[13] - The company reported a total of 1,689,255,335 H-shares held by Hong Kong Central Clearing (Agent) Co., Ltd., excluding 166,852,000 shares held on behalf of China Aviation Limited[10]

Operational Performance - In 2023, the company significantly improved its operational performance, achieving a substantial reduction in losses[7] - Operating revenue for 2023 reached RMB 141.1 billion, a significant increase compared to previous years[10] - The company reported an EBITDA of RMB 30 billion, showing a recovery from a loss of RMB 14.2 billion in 2022[10] - The company achieved a net loss attributable to shareholders of RMB 1.04 billion, an improvement from a loss of RMB 38.62 billion in 2022[10] - The operating revenue increased by 166.74% year-on-year, with a pre-tax loss reduction of RMB 44.227 billion, indicating significant improvement in operational performance[20] - The company reported a significant increase in passenger traffic, with a year-on-year growth of 25% in the first half of 2023[178] - Revenue for the first half of 2023 reached approximately CNY 60 billion, representing a 30% increase compared to the same period last year[180] - The operating profit margin improved to 12% in the first half of 2023, up from 8% in the previous year[180] Passenger and Cargo Traffic - Passenger traffic increased to 125.45 million, representing a growth of 178.25% year-on-year[14] - The international passenger traffic surged by 1,675.48% to 6.73 million[14] - Cargo and mail transported increased by 18.56% to 1,070,373 tons[14] - The domestic market contributed 80.57% to passenger revenue, with a year-on-year growth of 221.22%[45] - International passenger revenue increased by 346.14% to RMB 21.4 billion, accounting for 16.40% of total revenue[45] Fleet and Capacity - The number of flights increased to 902,517, a 120.20% increase from the previous period of 409,870 flights[15] - The company introduced 23 new aircraft and retired 12, resulting in a total fleet of 905 aircraft with an average age of 9.36 years[17] - The company plans to expand its fleet by adding 20 new aircraft by the end of 2024, enhancing its operational capacity[179] Financial Position - Total assets as of December 31, 2023, were RMB 335.28 billion, up from RMB 294.98 billion in 2022[12] - The company reported a consolidated operating revenue of RMB 299.88 billion, a year-on-year increase of 139.12%[33] - Total assets increased to RMB 335,278,694 thousand in 2023, up from RMB 294,979,377 thousand in 2022, representing an increase of approximately 13.7%[197] - The company's net assets grew to RMB 35,264,009 thousand in 2023, up from RMB 21,528,228 thousand in 2022, marking a significant increase of approximately 63.8%[198] Safety and Compliance - The company successfully ensured safety during major events such as the Chengdu Universiade and the Hangzhou Asian Games[7] - The company has implemented measures to strengthen safety management and compliance with national safety regulations[7] - The company has established a risk prevention mechanism to strengthen compliance and internal control, ensuring comprehensive risk management across all operations[25] - The company emphasizes compliance with legal and regulatory requirements, with ongoing reviews of governance policies and practices[76] Digital Transformation and Customer Experience - The company is focusing on digital transformation and service standard enhancement to improve customer experience[13] - The digital transformation includes the implementation of a global ground flight support platform with over 1,200 functional points, covering more than 250,000 flights since its launch[24] - The company aims to enhance internet connectivity on flights, with the A350 fleet extending internet service to takeoff and landing phases, improving the overall passenger experience[24] Governance and Board Structure - The board of directors held a total of 11 meetings during the reporting period, with attendance rates indicating active participation from all members[74] - The company emphasizes compliance with legal and regulatory requirements, with ongoing reviews of governance policies and practices[76] - The company’s board composition meets listing rules, ensuring at least three independent non-executive directors are present[79] - The board has established mechanisms to ensure independent opinions are available for decision-making, enhancing objectivity and effectiveness[79] Shareholder Engagement and Capital Management - The company has established an investor relations management system to enhance communication with shareholders and investors[108] - The company plans not to distribute profits for the fiscal year 2023, as the distributable profits are negative[127] - The company completed a private placement of 1,675,977,653 A-shares at a price of RMB 8.95 per share, raising a net amount of RMB 14,993,016,587.32[129] - The company is committed to maintaining competitive pricing strategies through fair negotiations and market comparisons for all services provided[157] Environmental and Social Responsibility - The company has made significant progress in environmental management, achieving ISO 14001 certification and promoting green aviation initiatives[150] - The company made charitable donations totaling RMB 45.0843 million during the reporting period[147] - The company is actively involved in environmental, social, and governance (ESG) strategies as part of its long-term development planning[96] Future Outlook - The company plans to focus on safety, improving efficiency, and accelerating innovation in 2024[35] - Future guidance suggests a projected revenue growth of 20% for the full year 2023, driven by increased travel demand[180] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[182]

Financial Performance - The company reported a total revenue of RMB 141.1 billion for the fiscal year 2023, with a net loss attributable to shareholders of RMB 1.038 billion[1]. - The operating expenses totaled RMB 145.6 billion, significantly higher than the previous year's RMB 91.7 billion, reflecting an increase of approximately 58.8%[2]. - The pre-tax loss for the year was RMB 1.65 billion, compared to a pre-tax loss of RMB 45.9 billion in the previous year[2]. - The company recorded a basic and diluted loss per share of RMB 6.74, compared to RMB 281.16 in the previous year[2]. - Other comprehensive income for the year was a loss of RMB 65.3 million, a significant improvement from a loss of RMB 44.3 billion in the previous year[3]. - The company achieved operating revenue of RMB 141.1 billion, an increase of RMB 88.2 billion, representing a growth of 166.74% year-on-year[55]. - Passenger transport revenue reached RMB 130.5 billion, up RMB 92.2 billion, with a year-on-year growth of 240.81%[57]. - The group reported a tax credit of RMB (88,531) thousand in 2023, a significant improvement from RMB (702,981) thousand in 2022[29]. - The company reported a significant increase in operating income from aviation operations, reaching RMB 2,501,992,000 for the year ended December 31, 2023, compared to RMB (484,499,000) in 2022[21]. Assets and Liabilities - Total assets increased to RMB 335.3 billion in 2023 from RMB 295.0 billion in 2022, representing a growth of approximately 13.4%[4]. - Non-current assets rose to RMB 302.9 billion, up from RMB 272.7 billion in the previous year, indicating a growth of about 11.1%[4]. - As of December 31, 2023, the company's net current liabilities amounted to RMB 77.98 billion, compared to RMB 70.24 billion as of December 31, 2022, indicating an increase of approximately 11.5%[6]. - The total assets minus current liabilities reached RMB 224.96 billion, up from RMB 202.50 billion in the previous year, reflecting a growth of about 11.1%[6]. - The company's net assets increased significantly to RMB 35.26 billion from RMB 21.53 billion, representing a growth of approximately 63.7% year-over-year[6]. - Total liabilities rose to RMB 300,014,685 thousand in 2023 from RMB 273,451,149 thousand in 2022, an increase of 9.7%[36]. - The total interest-bearing debt amounted to RMB 234.26 billion, a 1.95% increase from RMB 229.79 billion in 2022[75]. Cash Flow and Financing - The company’s cash and cash equivalents increased to RMB 15.0 billion, up from RMB 10.6 billion in the previous year, reflecting a growth of approximately 41.1%[4]. - The company believes it has sufficient funds to continue its business activities in the foreseeable future based on cash inflows from operations and external financing capabilities[6]. - The net cash inflow from operating activities was RMB 27.91 billion, a significant improvement from a net cash outflow of RMB 23.34 billion in the same period last year[78]. - The company has unused bank credit facilities amounting to RMB 125.15 billion, which supports its ability to meet debt obligations and capital expenditures[6]. Operational Metrics - Passenger traffic reached 125,454.54 thousand, a substantial increase of 178.25% compared to 45,086.67 thousand in the previous period[38]. - Available seat kilometers (ASK) surged by 164.15% to 292,513.16 million from 110,735.88 million[38]. - Revenue passenger kilometers (RPK) increased by 206.11% to 214,172.87 million from 69,966.58 million[38]. - The number of flights increased to 902,517, a 120.20% increase compared to the previous period[39]. - The average aircraft utilization increased to 8.14 hours per day, up 4.24 hours[39]. - The company transported 125 million passengers and achieved a total of 2.5295 million safe flight hours during the reporting period, maintaining a stable safety performance[46]. Strategic Initiatives - The company plans to expand its market presence and enhance operational efficiency through new strategies and technology advancements[38]. - The company is focusing on cost control, implementing strict budget constraints and optimizing debt structure to enhance cash flow sustainability[48]. - The company is committed to green development and has published a "carbon peak" action plan, actively participating in the formulation of civil aviation carbon market rules[46]. - The company plans to enhance in-flight internet services, extending coverage to all phases of flight, establishing a "door-to-door" internet service for passengers[52]. - The company is enhancing service quality by improving service standards and launching new products, including the "Fengwu Yunduan" cabin visual suite and a new entertainment system[49]. Governance and Compliance - The company adopted new and revised International Financial Reporting Standards (IFRS) during the year, which did not have a significant impact on its financial position or performance[7][9]. - The company is committed to adhering to international financial reporting standards, ensuring transparency and accuracy in its financial disclosures[96]. - The board of directors includes independent non-executive members, reflecting a commitment to governance and oversight[98].