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].

Financial Performance - Operating revenue for Q3 2023 reached RMB 45,863,652, representing a year-on-year increase of 152.89%[3] - Net profit attributable to shareholders for Q3 2023 was RMB 4,242,149, with a significant recovery from previous losses[3] - The weighted average return on equity increased by 60.26 percentage points year-to-date, reaching 11.46%[3] - Total operating revenue for the first three quarters of 2023 reached RMB 105,476,845, a significant increase from RMB 42,088,565 in the same period of 2022, representing a growth of approximately 150%[17] - The net profit for the first three quarters of 2023 was RMB 1,186,837, a substantial recovery from a net loss of RMB 32,412,286 in the same period of 2022[18] - The company reported a total comprehensive income of RMB 1,095,486 for the first three quarters of 2023, compared to a loss of RMB 30,528,762 in the same period of 2022, showing a significant turnaround[19] Assets and Liabilities - Total assets as of the end of Q3 2023 amounted to RMB 338,864,552, a 14.86% increase compared to the end of the previous year[4] - The company's cash and cash equivalents amounted to RMB 22,219,322 thousand, significantly up from RMB 11,435,877 thousand in the previous year, indicating an increase of about 94.5%[13] - Total current liabilities increased to RMB 112,899,276 thousand from RMB 92,482,608 thousand, reflecting a rise of approximately 22.1%[15] - The company reported a total debt of RMB 300,838,982 as of September 30, 2023, up from RMB 273,451,149 at the end of 2022, reflecting an increase of approximately 10.1%[16] - The total liabilities as of September 30, 2023, included long-term borrowings of RMB 72,980,897, which increased from RMB 66,868,774 at the end of 2022, indicating a rise of about 16.5%[16] Shareholder Equity - Shareholders' equity attributable to shareholders increased by 65.45% year-on-year, totaling RMB 39,061,556[4] - The total equity attributable to shareholders increased to RMB 39,061,556 as of September 30, 2023, compared to RMB 23,609,134 at the end of 2022, marking a growth of about 65.5%[16] Cash Flow - The company reported a net cash flow from operating activities of RMB 33,075,596 year-to-date[3] - Operating cash flow for the first three quarters of 2023 reached RMB 33,075,596 thousand, a significant improvement from a negative cash flow of RMB -4,895,560 thousand in the same period of 2022[21] - The net increase in cash and cash equivalents for the first three quarters of 2023 was RMB 10,902,057 thousand, contrasting with a decrease of RMB -2,159,020 thousand in the same period of 2022[23] Investment and Expenses - Research and development expenses for the first three quarters of 2023 were RMB 213,842, up from RMB 126,195 in 2022, representing an increase of approximately 69%[17] - The company achieved an investment income of RMB 2,240,021 in the first three quarters of 2023, a significant improvement from a loss of RMB 642,522 in the same period of 2022[17] Operational Metrics - The company has increased its capacity and improved load factors and pricing levels, driving revenue growth[7] - The company reported a significant increase in cash received from sales of goods and services, totaling RMB 117,873,834 thousand, compared to RMB 44,775,183 thousand in the same period of 2022[21] - Cash paid for purchasing goods and services was RMB 60,606,339 thousand, up from RMB 33,419,398 thousand in the previous year[21]

Financial Performance - For the six months ended June 30, 2023, the operating revenue reached RMB 59,613,193 thousand, a significant increase from RMB 23,952,653 thousand in the same period of 2022, representing a growth of approximately 148.5%[5] - The company reported a net loss attributable to shareholders of RMB 3,446,814 thousand for the first half of 2023, a reduction from a loss of RMB 19,436,846 thousand in the same period of 2022, indicating an improvement of about 82.3%[5] - EBITDA for the first half of 2023 was RMB 11,806,583 thousand, compared to a negative EBITDA of RMB 6,514,396 thousand in the first half of 2022, showing a turnaround in operational performance[5] - The loss per share attributable to shareholders improved to RMB 0.2239 for the first half of 2023, compared to RMB 1.4151 in the same period of 2022, marking a significant reduction in loss per share[5] - The return on equity for shareholders was reported at -9.87% for the first half of 2023, an improvement from -45.32% in the same period of 2022, indicating a positive trend in financial performance[5] - The company reported a net profit attributable to shareholders of RMB 35.93 billion, a significant recovery from a loss of RMB 44.32 billion in the same period last year[17] - The company reported a total comprehensive income of RMB (4,005,278) thousand for the six months ended June 30, 2023, compared to RMB (2,750,624) thousand for the same period in 2022, indicating a worsening of approximately 45.6%[77] Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 344,486,909 thousand, an increase from RMB 294,979,377 thousand at the end of 2022, reflecting a growth of approximately 16.8%[6] - The total liabilities increased to RMB 311,592,600 thousand as of June 30, 2023, compared to RMB 273,451,149 thousand at the end of 2022, representing a rise of about 13.9%[6] - The company's equity attributable to shareholders rose to RMB 34,914,799 thousand as of June 30, 2023, up from RMB 23,577,176 thousand at the end of 2022, indicating a growth of approximately 48.0%[6] - The company's net liabilities decreased to RMB 69,071,645 thousand from RMB 70,237,477 thousand, indicating a reduction of about 1.7%[76] - Non-current liabilities totaled RMB 199,254,411 thousand, up from RMB 180,968,541 thousand, reflecting an increase of approximately 10.1%[76] - The total lease liabilities as of June 30, 2023, amounted to RMB 104,668,894 thousand, with a present value of RMB 94,770,566 thousand[113] Operational Metrics - Available seat kilometers increased to 128,799.56 million, a 167.30% increase compared to the same period in 2022[8] - Passenger numbers reached 55,544.89 thousand, representing a 192.00% increase year-over-year[8] - Revenue per available seat kilometer rose to RMB 0.6107, an 8.18% increase from the previous year[9] - The average daily utilization of aircraft improved to 7.75 hours, an increase of 3.98 hours[9] - The overall cargo ton kilometers increased by 49.10% to 1,088.96 million[8] - The overall revenue ton kilometers increased by 92.39% to 9,128.30 million[8] - The average passenger load factor improved to 70.52%, an increase of 10.10 percentage points from the previous year[24] - The total passenger turnover for the first half of 2023 was reported at 30 billion revenue passenger kilometers, reflecting a year-on-year increase of 75%[156] - The cargo turnover reached 1.5 billion revenue ton kilometers, which is a 50% increase compared to the same period last year[156] - The overall passenger load factor improved to 82%, up from 75% in the previous year, indicating enhanced operational efficiency[154] Strategic Initiatives - The company continues to focus on expanding its fleet and enhancing operational efficiency as part of its long-term growth strategy[7] - Air China Limited aims to strengthen its market position through strategic partnerships and potential acquisitions in the aviation sector[7] - The company plans to continue expanding its market presence and enhancing operational efficiency through strategic initiatives[20] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service portfolio[73] - The company is exploring strategic partnerships for market expansion in Southeast Asia, aiming for a 15% increase in market share by 2025[156] Investments and Expenditures - Capital expenditures totaled RMB 12.499 billion, with RMB 4.953 billion allocated for aircraft and engine investments[35] - The company has committed to purchasing 22 aircraft, with an investment amount of RMB 1,079,301,660.00, of which RMB 765,461,600.00 has been invested during the reporting period[62] - The company has raised a total of RMB 14,993,016,587.32 through a private placement of 1,675,977,653 A-shares at a price of RMB 8.95 per share[61] - The company has secured approximately RMB 2.56 billion of bank loans and bonds with various assets, including aircraft and land use rights[115] Shareholder Information - China International Airlines Group holds 6,566,761,847 shares, representing 40.53% of the total issued shares[49] - Cathay Pacific Airways owns 2,633,725,455 H shares, accounting for 16.26% of the total issued shares[49] - The major shareholder, China Aviation Group, holds 5,952,236,697 shares, representing 50.14% of the company[53] - The company’s major shareholders include Cathay Pacific Airways with 2,633,725,455 shares and Hong Kong Central Clearing Limited with 1,688,817,345 shares[53] - The company’s private placement shares are subject to a lock-up period until July 17, 2024, for 614,525,150 shares held by China Aviation Group[56] Environmental and Social Responsibility - The group is implementing a carbon peak action plan with six key tasks and nine major actions to support green development[14] - Research and development efforts are focused on enhancing fuel efficiency and reducing carbon emissions, with a target of 20% reduction by 2025[156] Customer Engagement - The company has optimized frequent flyer membership policies to enhance customer loyalty and long-term contribution[13] - The company has initiated a new loyalty program aimed at increasing customer retention by 25% over the next year[156]

Financial Performance - The company reported a total revenue of RMB 63,683,069 thousand for the six months ended June 30, 2023, compared to RMB 25,400,038 thousand for the same period in 2022, representing a year-over-year increase of approximately 150.0%[2] - Operating loss for the six months ended June 30, 2023, was RMB (64,581,269) thousand, compared to RMB (42,372,752) thousand for the same period in 2022, indicating a deterioration in operational performance[2] - The net loss attributable to shareholders for the period was RMB (4,043,954) thousand, a significant improvement from RMB (22,214,145) thousand in the previous year, reflecting a reduction in losses[3] - The company's total revenue for the six months ended June 30, 2023, was RMB 59,613,193 thousand, compared to RMB 23,952,653 thousand for the same period in 2022, representing an increase of approximately 149.8%[10] - Other income and gains for the six months ended June 30, 2023, totaled RMB 4,069,876 thousand, up from RMB 1,447,385 thousand in the same period of 2022, marking an increase of approximately 181%[19] - The operating loss reported under Chinese accounting standards for the six months ended June 30, 2023, was RMB (4,365,389) thousand, compared to RMB (23,073,211) thousand for the same period in 2022[15] Assets and Liabilities - Total assets increased to RMB 344,486,909 thousand as of June 30, 2023, up from RMB 294,979,377 thousand as of December 31, 2022, marking a growth of approximately 16.8%[4] - The company’s total liabilities were RMB 199,254,411 thousand as of June 30, 2023, compared to RMB 180,968,541 thousand at the end of 2022, reflecting an increase of about 10.1%[6] - The net current liabilities as of June 30, 2023, were approximately RMB 69,071,645 thousand, slightly down from RMB 70,237,477 thousand at the end of 2022[6] - The total assets reported under Chinese accounting standards as of June 30, 2023, were RMB 344,514,953 thousand, compared to RMB 295,011,335 thousand as of December 31, 2022, indicating a growth of approximately 17%[15] - The company’s equity attributable to shareholders decreased to RMB (3,446,814) thousand from RMB (19,436,846) thousand, reflecting a reduction in shareholder equity losses[2] Cash Flow and Liquidity - Cash and cash equivalents rose to RMB 25,969,930 thousand, compared to RMB 10,607,711 thousand at the end of 2022, indicating a strong liquidity position[4] - The company reported a cash flow position supported by unused bank credit facilities amounting to RMB 118,035 million, ensuring sufficient funds for debt repayment and capital expenditures[6] - The net cash inflow from operating activities is RMB 16.142 billion, compared to a net cash outflow of RMB 9.96 billion in the same period of 2022[55] Revenue Breakdown - Revenue from customer contracts in the aviation operations segment reached RMB 57,574,893 thousand, significantly up from RMB 22,782,416 thousand in the previous year, indicating a growth of about 152.5%[11] - The aviation operations segment generated RMB 55,469,530 thousand from passenger services, a substantial increase from RMB 15,103,503 thousand in the same period last year, marking a growth of about 267.5%[11] - Revenue from mainland China accounted for RMB 50,342,825 thousand, while revenue from Hong Kong, Macau, and Taiwan was RMB 1,730,660 thousand, and international revenue was RMB 7,539,708 thousand[17] Operational Metrics - The company's available seat kilometers (ASK) for the first half of 2023 was 128,799.56 million, a 167.30% increase from the previous year, indicating a strong recovery in capacity[27] - The number of passengers carried in the first half of 2023 was 55,544.89 thousand, which is a 192.00% increase compared to 19,022.17 thousand in the same period of 2022[27] - The revenue passenger kilometers (RPK) for the first half of 2023 was 90,835.35 million, reflecting a remarkable increase of 209.87% from the previous year[27] - The passenger load factor increased significantly, with international at 70.52% (up 9.69 percentage points) and domestic at 60.92% (up 24.89 percentage points) compared to the same period last year[28] Cost and Expenses - The company’s total operating expenses for the period were RMB (64,581,269) thousand, compared to RMB (42,372,752) thousand in the previous year, indicating a rise in operational costs[2] - Operating expenses increased by RMB 22.21 billion, a rise of 52.41%, totaling RMB 64.58 billion[44] - Fuel costs rose by RMB 8.99 billion, primarily due to increased fuel consumption and lower fuel prices, representing 29.96% of total operating expenses[45] Strategic Initiatives - The company is focusing on enhancing operational efficiency and cost control, aiming to maximize revenue through refined marketing strategies and pricing adjustments[32] - The company plans to implement a green development strategy, focusing on carbon peak action plans and biodiversity protection initiatives[34] - The company is actively involved in the development of new technologies and services to improve operational efficiency and customer experience[69] Governance and Compliance - The company has complied with the Corporate Governance Code during the reporting period[63] - The company is committed to maintaining compliance with the Hong Kong Stock Exchange listing rules and regulations[70] - The board of directors includes independent non-executive directors, ensuring governance and oversight[71]

Financial Performance - The company's operating revenue for Q1 2023 reached RMB 25,067,711 thousand, representing a significant increase of 94.06% compared to the same period last year[2]. - The net profit attributable to shareholders of the listed company was a loss of RMB 2,926,407 thousand, with a substantial reduction in losses driven by increased capacity and higher passenger load factors[2][4]. - The net cash flow from operating activities was RMB 6,796,158 thousand, indicating strong operational performance despite the net loss[2]. - Total operating revenue for Q1 2023 reached RMB 25,067,711 thousand, a significant increase of 94.5% compared to RMB 12,917,577 thousand in Q1 2022[12]. - The net loss for Q1 2023 was RMB 3,273,648 thousand, an improvement from a net loss of RMB 9,871,659 thousand in Q1 2022[13]. - The company reported a gross profit margin of approximately -18.5% for Q1 2023, compared to -81.1% in Q1 2022[12]. - The basic earnings per share for Q1 2023 was -0.19, an improvement from -0.65 in Q1 2022[14]. Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 345,152,642 thousand, reflecting a 17.00% increase from the previous year[2]. - The company's current assets as of March 31, 2023, amounted to RMB 45,439,221,000, an increase from RMB 22,245,131,000 as of December 31, 2022, representing a growth of approximately 104.4%[9]. - Total non-current assets as of March 31, 2023, were RMB 299,713,421,000, compared to RMB 272,766,204,000 as of December 31, 2022, indicating an increase of about 9.9%[10]. - The company's total liabilities as of March 31, 2023, were RMB 345,152,642,000, up from RMB 295,011,335,000 at the end of 2022, representing an increase of approximately 17%[10]. - The total liabilities as of March 31, 2023, amounted to RMB 315,810,676 thousand, an increase from RMB 273,451,149 thousand as of December 31, 2022[11]. Shareholder Equity - The equity attributable to shareholders of the listed company increased by 49.63% to RMB 35,325,730 thousand, attributed to a non-public issuance of A shares during the reporting period[2][4]. - The total equity attributable to shareholders was RMB 29,341,966 thousand as of March 31, 2023, compared to RMB 21,560,186 thousand at the end of 2022[11]. - The company’s total equity as of March 31, 2023, was RMB 54,490,000,000, compared to RMB 56,000,000,000 at the end of 2022, showing a decrease of approximately 2.7%[10]. Cash Flow - The company's cash and cash equivalents increased to RMB 32,638,728,000 as of March 31, 2023, compared to RMB 11,435,877,000 at the end of 2022, reflecting a growth of approximately 184.5%[9]. - The net cash flow from operating activities was RMB 6,796,158 thousand, a significant improvement from a net outflow of RMB 7,658,829 thousand in Q1 2022[16]. - Cash inflow from investment activities totaled RMB 5,792,825 thousand in Q1 2023, compared to RMB 362,721 thousand in Q1 2022, indicating a substantial increase[17]. - The net cash flow from financing activities was RMB 11,245,378 thousand in Q1 2023, up from RMB 4,843,655 thousand in Q1 2022, reflecting strong financing efforts[17]. - The total cash and cash equivalents at the end of Q1 2023 reached RMB 32,052,201 thousand, a significant increase from RMB 11,211,826 thousand at the end of Q1 2022[18]. - The net increase in cash and cash equivalents for Q1 2023 was RMB 21,444,490 thousand, compared to a net decrease of RMB 4,722,887 thousand in Q1 2022[18]. Operational Capacity and Strategy - The company has increased its operational capacity, leading to improved revenue and reduced losses, driven by higher load factors and pricing levels[4]. - The company is focused on expanding its market presence and enhancing operational efficiency through strategic investments and capacity increases[4]. - The company completed a private placement of 1,675,977,653 A-shares at a price of RMB 8.95 per share, raising a total of RMB 14,999,999,994.35[8]. - As of March 21, 2023, the company acquired control of Shandong Airlines Group, which will be included in the consolidated financial statements[8]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 126,705, with the largest shareholder being China National Aviation Holding Company, holding 40.53% of shares[5]. Expenses and Investments - The company incurred financial expenses of RMB 1,059,233 thousand in Q1 2023, a decrease from RMB 1,251,104 thousand in Q1 2022[12]. - Research and development expenses for Q1 2023 were RMB 69,676 thousand, compared to RMB 38,099 thousand in Q1 2022, indicating increased investment in innovation[12]. - The company reported investment income of RMB 737,421 thousand in Q1 2023, a recovery from a loss of RMB 842,440 thousand in Q1 2022[12].

Operational Performance - In 2022, the company focused on ensuring safety and stability in operations, completing a three-year safety rectification action plan[11]. - The company adjusted capacity based on market demand, optimizing the structure of domestic and international capacity投入[11]. - The company maintained a stable market share in its main base and enhanced revenue management through refined marketing strategies[11]. - The company emphasized strict cost control, adjusting aircraft retirement schedules to improve operational efficiency[11]. - The company successfully completed important support tasks for the Beijing Winter Olympics and the 20th National Congress of the Communist Party of China[11]. - Passenger traffic decreased by 44.09% year-on-year, with 38,605.77 thousand passengers carried in 2022[18]. - Available seat kilometers (ASK) dropped by 36.89% to 96,212.39 million in 2022[18]. - The total number of flights decreased to 363,886, down 36.41% from 572,264 in the previous period[19]. - Revenue ton kilometers dropped to 8,739.54 million, a decrease of 35.73% from 13,598.95 million[19]. - Passenger load factor decreased to 62.73%, down 5.90 percentage points from 68.63%[19]. - Cargo and mail load factor increased to 40.86%, up 0.87 percentage points from 39.99%[19]. - Average aircraft utilization dropped to 3.95 hours per day, down 2.32 hours from 6.28 hours[19]. Financial Performance - Operating revenue for 2022 was RMB 52,897,584, a significant decrease from RMB 74,531,670 in 2021[14]. - The company reported a net loss attributable to shareholders of RMB 38,617,495 in 2022, compared to a loss of RMB 16,635,178 in 2021[14]. - The EBITDA for 2022 was a loss of RMB 14,210,120, compared to a profit of RMB 4,072,326 in 2021[14]. - The total operating revenue for the company was RMB 125.41 billion, a year-on-year decrease of 32.21%[39]. - The total assets of the company amounted to RMB 643.10 billion, with a net loss attributable to shareholders of RMB 111.27 billion[39]. - The average passenger load factor was 64.66%, a decrease of 4.52 percentage points year-on-year[40]. - The company reported a negative distributable profit for the year 2022, leading to a decision not to distribute dividends[132]. - The total operating expenses for 2022 were RMB 91,716,156 thousand, a decrease from RMB 95,464,608 thousand in 2021, indicating a reduction of 3.9%[198]. Strategic Initiatives - The company aims to enhance its service offerings and stabilize flight revenues by enriching its product mix[11]. - The company is focused on enhancing service levels and digital transformation to improve customer experience and operational efficiency[14]. - The company aims to accelerate the construction of a world-class aviation transport group as part of its strategic goals for 2023[13]. - The company is committed to deepening reform and strengthening party building within its operations[11]. - The company aims to strengthen its international market presence through the "Air Silk Road" initiative and the Belt and Road economic corridors[33]. - The company plans to focus on safety production, production recovery, and innovation development in 2023[42]. - The company is focusing on high-quality development and digital transformation, with a dedicated team for digital integration and data management[29]. Governance and Management - The board of directors has been restructured to enhance governance and risk management capabilities[14]. - The board of directors is responsible for reviewing and monitoring the company's governance policies and compliance with legal regulations[87]. - The company completed the election of the new board and supervisory committee on February 25, 2022, following a delay due to the nomination process[90]. - The company has established a liability management regulation to enhance financial stability and risk control[99]. - The audit committee has confirmed the independence of its four independent non-executive directors, ensuring compliance with governance standards[97]. - The company has implemented a robust internal control environment and effective electronic information systems to support business operations[109]. - The company has established a clear organizational structure for risk management, ensuring effective monitoring and response to significant risks[110]. Customer Engagement and Services - The company has a long-standing frequent flyer program, integrating multiple brand members into the "Phoenix Miles" brand[3]. - The company has over 75.11 million Phoenix Miles members, contributing 51.9% of passenger revenue[34]. - The company issued 705 special ticket handling plans and sent travel alerts to 542,000 ticket holders, enhancing customer service efficiency[27]. - The company launched the "Health Travel" service, covering 28 overseas stations, and implemented online health information verification for passengers[27]. - The company has established a new air dining concept, "Cloud Feast China," and set up an in-flight food research institute[28]. Sustainability and Compliance - The company has achieved ISO 14001 certification, becoming the first airline in mainland China to fully pass the environmental management system certification[153]. - The company is focused on sustainable development and has strengthened its energy management and pollution prevention measures[153]. - The company has implemented a green travel service on its app, allowing passengers to participate in carbon offset projects[153]. - The company has established a comprehensive compliance program to adhere to relevant laws and regulations affecting its main business operations[154]. Market Position and Competition - The company is listed on the Hong Kong, London, and Shanghai stock exchanges, enhancing its visibility and investment appeal[10]. - The company continues to face strong competition in the industry, emphasizing the development of a world-class hub at Beijing Capital Airport and Chengdu Tianfu Airport[71]. - The expansion of China's high-speed rail network poses a long-term risk of passenger diversion from air travel, particularly for short to medium-haul routes[72]. - The company anticipates that business travel and tourism will drive future growth in the aviation transport market[44]. Employee and Training Development - The total number of employees in the group as of December 31, 2022, was 87,190, with 60.18% being male and 39.82% female[142]. - The company conducted a total of 85.8 million hours of online training and 129,547 hours of flight simulator training during the reporting period[145]. - The company aims to enhance training effectiveness and relevance through continuous optimization of teaching content and methods[145]. - The company has a commitment to non-discrimination in employment practices, promoting diversity among its workforce[142].

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。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00753） 二零二二年年度業績 財務摘要 • 報告期內，本集團實現營業收入人民幣528.98億元；歸屬於本公司股東淨虧損人 民幣386.17億元。 • 經本公司第六屆董事會第十八次會議審議通過，本公司二零二二年度擬不進行利 潤分配。 二零二二年年度業績 董事會宣佈本集團截至二零二二年十二月三十一日止年度的經審核合併財務業績以及截 至二零二一年十二月三十一日止年度的相應比較數字如下： ...

Financial Performance - Operating revenue for the third quarter was RMB 18,135,912 thousand, a decrease of 8.37% compared to the same period last year[3] - Net profit attributable to shareholders was a loss of RMB 8,668,358 thousand, with a year-to-date loss of RMB 28,103,264 thousand, reflecting a significant decline[3] - Total operating revenue for the first three quarters of 2022 was RMB 42,088,565, a decrease of 26.7% compared to RMB 57,457,425 in the same period of 2021[18] - Net profit for the first three quarters of 2022 was a loss of RMB 32,412,286, compared to a loss of RMB 11,796,418 in the same period of 2021, indicating a significant decline in profitability[19] - The company reported a basic earnings per share of -2.05 in 2022, compared to -0.75 in 2021, reflecting worsening financial performance[20] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was RMB -4,895,560 thousand, representing a decrease of 148.23% compared to the previous year[3] - Operating cash flow for the first three quarters of 2022 was -4,895,560 thousand RMB, a significant decrease from 10,151,293 thousand RMB in the same period of 2021[22] - The total cash inflow from operating activities was 52,309,212 thousand RMB, down from 67,996,587 thousand RMB in the same period of 2021[22] - Cash and cash equivalents were reported at RMB 14,577,834 thousand, down from RMB 16,709,664 thousand, indicating a decrease of about 13%[13] - Cash and cash equivalents at the end of Q3 2022 totaled 13,775,693 thousand RMB, down from 8,768,175 thousand RMB in Q3 2021[24] Assets and Liabilities - Total assets at the end of the reporting period were RMB 296,940,407 thousand, a slight decrease of 0.49% from the previous year[4] - Current assets decreased to RMB 26,767,559 thousand from RMB 30,396,728 thousand year-over-year, reflecting a decline of approximately 12%[13] - Total liabilities increased to RMB 261,604,740 as of September 30, 2022, up from RMB 232,550,079 at the end of 2021, marking a rise of 12.5%[18] - Non-current liabilities totaled RMB 171,036,657 as of September 30, 2022, compared to RMB 141,134,355 at the end of 2021, an increase of 21.2%[18] - The company's total equity decreased to RMB 35,335,667 as of September 30, 2022, down from RMB 65,865,073 at the end of 2021, a decline of 46.5%[18] Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 103,621[8] - The largest shareholder, China National Aviation Holding Company, holds 40.98% of the shares, with a total of 5,952,236,697 shares[8] - The company holds 51.70% of its shares directly and indirectly through its major shareholders, indicating a strong control over its equity structure[9] - The company is actively monitoring its shareholder structure, with significant holdings from major stakeholders such as China National Aviation Holding Company and Cathay Pacific Airways[9] Operational Challenges - The company is facing challenges due to the impact of the pandemic and rising fuel prices, affecting its financial performance[7] - The cash flow from operating activities is a critical area for future performance, with a focus on improving liquidity and managing short-term debts[12] - The company is committed to enhancing its financial health by managing its liabilities and optimizing its asset portfolio[12] Investment and Expenses - Research and development expenses rose to RMB 126,195 in the first three quarters of 2022, up from RMB 92,814 in the same period of 2021, an increase of 36%[18] - Total operating costs increased to RMB 76,941,159 in 2022 from RMB 73,584,421 in 2021, representing an increase of 4.5%[18] - The company reported a significant increase in long-term borrowings to RMB 55,862,186 as of September 30, 2022, compared to RMB 43,620,468 at the end of 2021, an increase of 28.1%[18] Other Financial Metrics - Non-operating income from government subsidies amounted to RMB 157,727 thousand for the reporting period[5] - The weighted average return on net assets was -22.21%, a decrease of 17.14 percentage points compared to the previous year[3] - Other comprehensive income after tax for the first three quarters of 2022 was RMB 1,883,524, compared to RMB 702,188 in 2021, indicating an improvement[19] - The impact of exchange rate changes on cash and cash equivalents was a positive 39,950 thousand RMB in 2022, contrasting with a negative impact of -26,438 thousand RMB in 2021[24]

Financial Performance - For the six months ending June 30, 2022, Air China reported operating revenue of RMB 23,952,653, a decrease of 36.5% compared to RMB 37,663,803 for the same period in 2021[8]. - The company experienced a significant operating loss of RMB (16,972,714) for the first half of 2022, compared to an operating loss of RMB (6,042,612) in the prior year, indicating a deterioration in financial performance[8]. - The net loss attributable to shareholders for the six months was RMB (19,436,846), which is a substantial increase from RMB (6,781,429) in the same period of 2021, reflecting ongoing challenges[8]. - EBITDA for the first half of 2022 was reported at RMB (6,514,396), a decline from a positive EBITDA of RMB 4,289,009 in the previous year[8]. - The return on equity for shareholders was reported at (45.32)%, a significant drop from (9.10)% in the previous year, highlighting the impact of losses on shareholder value[8]. - The company’s equity attributable to shareholders decreased to RMB 42,889,048 from RMB 61,368,557, reflecting the adverse effects of the financial losses[10]. - The company reported a significant increase in other comprehensive income for the period, totaling RMB 984,012 thousand compared to RMB 648,496 thousand in the previous year[96]. - The company incurred a loss of RMB 19.44 billion for the six months ended June 30, 2022, compared to a loss of RMB 6.78 billion in the same period in 2021, representing an increase in losses of approximately 187.5%[100]. Assets and Liabilities - Total assets as of June 30, 2022, stood at RMB 299,295,794, slightly up from RMB 298,381,190 at the end of 2021, indicating stability in asset management[10]. - Total liabilities increased to RMB 254,694,816 from RMB 232,550,079, suggesting a rise in financial obligations[10]. - The group’s total liabilities amounted to RMB 166.66 billion, an increase from RMB 140.93 billion as of December 31, 2021, representing a growth of approximately 18.3%[99]. - The company’s total equity attributable to shareholders decreased to RMB 42.89 billion as of June 30, 2022, down from RMB 61.37 billion at the end of 2021, reflecting a decline of approximately 30.0%[99]. - The group reported a net current liability of approximately RMB 55.58 billion as of June 30, 2022, with unused bank credit facilities amounting to RMB 126.29 billion, ensuring sufficient liquidity for debt repayment and capital expenditures[105]. Operational Metrics - Available seat kilometers (ASK) decreased by 46.32% to 44,282.01 million from 82,499.92 million year-on-year[12]. - Passenger load factor dropped by 10.19 percentage points to 60.42% compared to 70.61% in the previous year[13]. - Revenue passenger kilometers (RPK) increased by 54.07% to 26,756.90 million from 58,252.60 million year-on-year[12]. - Total passenger numbers decreased by 55.00% to 17,373.04 thousand from 38,610.67 thousand year-on-year[12]. - The fleet size reached 748 aircraft with an average age of 8.39 years, after introducing 16 new aircraft and retiring 14 during the reporting period[14]. - The operating cost per available seat kilometer increased by 71.64% to RMB 0.9569 compared to RMB 0.5575 in the previous year[13]. - Cargo and mail carried decreased by 18.98% to 486,513.58 tons from 600,504.45 tons year-on-year[12]. Strategic Initiatives - Air China continues to focus on its strategic direction of hub network development and cost leadership, aiming to enhance service quality despite current financial challenges[3]. - The company is committed to innovation and expansion, with ongoing efforts in fleet development and market penetration to improve future performance[3]. - The company plans to introduce 36 new aircraft and retire 46 aircraft over the next two years[16]. - The company is actively responding to market volatility risks by deepening supply-side structural reforms and adapting to the new development stage[55]. - The company is planning to acquire control of Shandong Airlines Group and has made progress in negotiations for equity transfer and capital increase[90]. - The company is proceeding with a non-public offering of A-shares, targeting up to 35 specific investors, including AVIC Group, with a minimum subscription amount of 5.5 billion RMB[93]. Market and Competitive Landscape - The competitive landscape is evolving with opportunities for mergers and consolidations in the industry, which may enhance industry concentration[58]. - The expansion of China's high-speed rail network is expected to change the economic geography and create a competitive relationship between high-speed rail and civil aviation[59]. - Future outlook indicates a focus on expanding market presence and enhancing operational efficiency to recover from the financial impacts of the pandemic[102]. - Market expansion strategies are being implemented to capture a larger share of the aviation market[190]. Shareholder Information - China Aviation Group Company holds 5,952,236,697 A shares, representing 40.98% of the total issued shares[66]. - Cathay Pacific Airways holds 2,633,725,455 H shares, accounting for 18.13% of the total issued shares[68]. - The total number of shareholders is 106,297, with 3,013 being H share registered shareholders[68]. - The shares held by China Aviation Group Company are subject to a freeze, totaling 127,445,536 shares[71]. - The shares held by China Aviation Limited are also subject to a freeze, totaling 36,454,464 shares[71]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code, except for the provision B.2.2 regarding the rotation of directors every three years, which was postponed due to incomplete nominations[74]. - The company has adopted a behavior code that is not less stringent than the Standard Code as per the listing rules, and all directors and supervisors have adhered to this code during the reporting period[75]. - The company has established a carbon peak and carbon neutrality leadership group to promote green development and has implemented various initiatives to reduce plastic waste and carbon emissions[77]. Debt and Financing - The group has obtained bank credit facilities totaling RMB 193.689 billion, of which approximately RMB 67.399 billion has been utilized, sufficient to meet liquidity and future capital expenditure commitments[54]. - The company issued six debt financing instruments, with total amounts of 10.17 billion RMB, 10.17 billion RMB, 20.26 billion RMB, 10.09 billion RMB, 20.52 billion RMB, and 15.14 billion RMB respectively[82]. - The interest rates for the issued bonds range from 2.43% to 3.2%[82]. - The company did not declare an interim dividend for the six months ending June 30, 2022[87].

Financial Performance - Operating revenue for the first quarter was RMB 12,917,577, a decrease of 11.41% compared to the same period last year[3] - Net profit attributable to shareholders was a loss of RMB 8,899,923, with a basic earnings per share of -0.65 yuan[3] - Net profit for Q1 2022 was a loss of CNY 9,871,659 thousand, compared to a loss of CNY 6,947,050 thousand in Q1 2021, reflecting a worsening of 42.5%[21] - The total comprehensive income for Q1 2022 was a loss of CNY 10,009,745 thousand, compared to a loss of CNY 6,864,345 thousand in Q1 2021[22] - The company reported a total operating cost of CNY 23,144,688 thousand for Q1 2022, slightly up from CNY 23,098,558 thousand in Q1 2021[19] - The basic earnings per share for Q1 2022 was CNY -0.65, compared to CNY -0.45 in Q1 2021[22] Cash Flow - Net cash flow from operating activities was -RMB 7,658,829, indicating significant cash outflow[3] - The net cash flow from operating activities for Q1 2022 was a negative CNY 7,658,829 thousand, compared to a negative CNY 1,254,296 thousand in Q1 2021, indicating a significant decline in cash flow[24] - The company incurred a total of CNY 6,550,937 thousand in cash payments to employees during Q1 2022, which is comparable to CNY 6,584,075 thousand in Q1 2021[24] - The company experienced a net increase in cash inflows from operating activities of CNY 15,871,521 thousand in Q1 2022, compared to CNY 16,009,589 thousand in Q1 2021[24] - The company reported a significant increase in other cash payments related to operating activities, totaling CNY 7,261,889 thousand in Q1 2022, compared to CNY 1,825,572 thousand in Q1 2021[24] - In Q1 2022, the net cash flow from investment activities was -1,900,020, a significant decrease compared to 143,326 in Q1 2021[25] - Cash inflow from financing activities in Q1 2022 totaled 20,779,966, up from 14,841,024 in Q1 2021, indicating a growth of approximately 39.5%[25] - The cash outflow from financing activities increased to 15,936,311 in Q1 2022 from 10,400,150 in Q1 2021, representing a rise of about 53.5%[25] - The ending cash and cash equivalents balance for Q1 2022 was 11,211,826, compared to 9,191,568 in Q1 2021, reflecting an increase of approximately 22%[26] - Cash received from bond issuance in Q1 2022 was 5,750,000, significantly higher than 700,000 in Q1 2021[25] - Cash received from borrowings in Q1 2022 was 15,029,966, compared to 13,650,876 in Q1 2021, showing an increase of about 10%[25] - The cash flow from investment activities saw a total inflow of 362,721 in Q1 2022, down from 762,565 in Q1 2021, indicating a decline of approximately 52.4%[25] - The net cash flow from financing activities for Q1 2022 was 4,843,655, slightly up from 4,440,874 in Q1 2021[25] - The impact of exchange rate changes on cash and cash equivalents in Q1 2022 was -7,693, contrasting with a positive impact of 23,666 in Q1 2021[26] - The cash received from other investment-related activities in Q1 2022 was 76,675, compared to 31,118 in Q1 2021, marking an increase of approximately 146%[25] Assets and Liabilities - Total assets at the end of the reporting period were RMB 293,138,034, down 1.77% from the previous year[4] - The total liabilities as of March 31, 2022, were RMB 237,282,706 thousand, an increase from RMB 232,550,079 thousand on December 31, 2021[16] - The company's cash and cash equivalents decreased to RMB 11,953,983 thousand from RMB 16,709,664 thousand, reflecting a decline of 28.5%[14] - Long-term borrowings increased to RMB 48,114,323 thousand as of March 31, 2022, compared to RMB 43,620,468 thousand at the end of 2021, representing an increase of 11.4%[16] - The total non-current assets were RMB 144,352,918 thousand as of March 31, 2022, up from RMB 141,134,355 thousand at the end of 2021[16] - The company's inventory increased to RMB 2,611,116 thousand from RMB 2,050,282 thousand, marking a rise of 27.3%[14] - The company reported a significant decrease in accounts receivable, which fell to RMB 1,565,549 thousand from RMB 2,991,037 thousand, a decline of 47.5%[14] - The company’s total current liabilities were RMB 92,929,788 thousand as of March 31, 2022, compared to RMB 91,415,724 thousand at the end of 2021[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 111,662, including 3,022 H-share registered shareholders[8] - Major shareholder China National Aviation Holding Company holds 40.98% of shares, totaling 5,952,236,697 shares[9] - The company’s major shareholder, China National Aviation Holding Company, holds a total of 51.70% of the shares directly and indirectly[10] Government Support - The company received government subsidies amounting to RMB 73,932, which are closely related to normal business operations[6] Challenges - The company faced challenges due to the domestic pandemic and rising fuel prices, impacting profitability[7]