Financial Performance - Total revenue for 2024 reached HKD 5,203.8 million, representing a year-on-year increase of 9.2% from HKD 4,763.7 million in 2023[24]. - Profit attributable to shareholders surged to HKD 257.5 million, a significant increase of 809.9% compared to HKD 28.3 million in 2023[24]. - Earnings per share for 2024 was HKD 0.346, reflecting a robust growth of 810.5% from HKD 0.038 in 2023[24]. - EBITDA for 2024 was HKD 5,038 million, showing a consistent upward trend from previous years[14]. - The total revenue for the year ended December 31, 2024, was HKD 5.204 billion, an increase from HKD 4.764 billion in 2023, representing a growth of approximately 9.2%[52]. - The net profit attributable to shareholders for the year was HKD 257.5 million, compared to HKD 28.3 million in the previous year, reflecting a substantial increase of approximately 812%[52]. - The EBITDA for 2024 reached HKD 5,038.4 million, an increase of HKD 661.4 million or 15.1% from HKD 4,377.0 million in 2023[54]. - Operating profit decreased slightly to HKD 898.7 million in 2024 from HKD 935.2 million in 2023[93]. Assets and Liabilities - Total assets amounted to HKD 58,240 million as of December 31, 2024[20]. - The total interest-bearing debt was HKD 48,577 million, with a debt-to-asset ratio of 83.4%[20][17]. - The total assets of the group as of December 31, 2024, were HKD 58,239.7 million, a decrease of HKD 1,585.0 million or 2.6% from HKD 59,824.7 million in 2023[54]. - The total liabilities decreased to HKD 52,911.5 million, down HKD 1,773.2 million or 3.2% from HKD 54,684.7 million in 2023[55]. - The total amount of bonds and financing notes decreased from HKD 5,943.5 million in 2023 to HKD 3,930.7 million in 2024, primarily due to the repayment of USD 240.3 million in bonds upon maturity[81]. - The total borrowings increased slightly by HKD 134.4 million or 0.3%, from HKD 42,911.8 million in 2023 to HKD 43,046.2 million in 2024[80]. - The group has a total of HKD 48,576.6 million in interest-bearing debt, which decreased by 3.8% from HKD 50,511.5 million in 2023[79]. Aircraft Operations - The company operated a fleet of 189 aircraft, consisting of 159 owned and 30 managed aircraft, serving 40 airline customers across 21 countries and regions[6]. - The company has 124 aircraft orders in its pipeline, indicating ongoing growth and expansion plans[6]. - The company completed the delivery of 19 aircraft during the fiscal year ending December 31, 2024[88]. - The total number of owned aircraft decreased from 165 in 2023 to 159 in 2024, with a notable increase in the Airbus A320 NEO series from 43 to 51[73]. - The total fleet size decreased from 165 aircraft to 159 aircraft, with 19 aircraft classified as held for sale as of December 31, 2024[72]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.18 per share, totaling HKD 0.30 per share for the year 2024, consistent with 2023[25]. - The board declared an interim dividend of HKD 0.12 per share, totaling approximately HKD 89.4 million[99]. - The proposed final dividend for the year ending December 31, 2024, is HKD 0.18 per share, an increase from HKD 0.15 per share in 2023[99]. - The company maintains a dividend policy aligned with its financial strategy, ensuring sufficient cash reserves for operational needs[101]. Market and Industry Outlook - In 2024, global air passenger demand is expected to grow by 10.4%, with a historic load factor of 83.5%[37]. - China's aviation industry recorded 730 million passengers in 2024, representing a year-on-year growth of 17.9%[37]. - The group anticipates global passenger numbers to exceed 5.2 billion by 2025, with a year-on-year growth of 6.7%, and expects the aviation market to continue to grow[49]. Financing and Capital Structure - The group secured approximately HKD 24 billion in new and renewed financing, including a USD 400 million warehouse-style aircraft financing project, marking the first issuance by an Asian aircraft leasing company since 2015[45]. - The group successfully issued RMB 1 billion perpetual medium-term notes at a record low interest rate of 2.7% during the year, further optimizing its capital structure[46]. - The group plans to optimize its capital structure and enhance operational strength in response to changing domestic and international interest rate environments[49]. - The group has established a stock option plan with a vesting period of two years, contingent upon performance targets set by the CEO[170]. Governance and Management - The board of directors underwent changes, with several appointments and resignations noted, including the appointment of Mr. Li Guohui as Chief Financial Officer on March 19, 2024[120]. - The board of directors is required to rotate one-third of its members at each annual general meeting, ensuring governance and compliance[122]. - The audit committee consists of independent non-executive directors, including Mr. Fan Junhua (Chairman), Mr. Zhuo Shengquan, Dr. Xie Xiaodong, and Dr. Hong Wen, with discussions on financial reporting and risk management[196]. - Deloitte will replace PwC as the company's auditor effective October 22, 2024, following PwC's resignation on October 21, 2024[199]. Corporate Social Responsibility - The total charitable donations made by the group during the year were approximately HKD 140,000[119]. - The company has established a strategy for sustainable development, with a focus on environmental, social, and governance issues[124].

各位投资人下午好我是中金公司的分析师周冬平非常感谢大家在周五的下午百忙之中来参与此次会议 本次会议中我们也很荣幸的邀请到了中国飞机租赁首席策略官兼联席首席财务官李伯辉先生以及投资者关系总监艾薇女士就中国飞机租赁2024年业绩情况及未来经营展望与投资者们进行交流本次会议将先邀请艾薇总简单介绍一下中国飞机租赁2024年的业绩情况后续将开启投资者的问答环节供大家交流我们先有请艾薇总谢谢谢谢东平老师 感谢各位投资者抽时间参加我们今天的会议我是Ivy我先简单介绍一下我们2024年的一个业绩情况 那新资产方面也是同比增长了4%达到53.28亿港币那去年在财务管理方面也是取得了成效的整个这个负债率是下降到了83.4%那我们在去年底的时候也是首次获得了中成新亚泰授予我们这个H减的国际投资级评级当然未来我们的方向还是会希望争取获得这个国际三大评级机构对我们这个信用评级的一个提升 那麻烦大家翻到PPT的第三页那我们2024年整体的这个业绩表现还是比较好的这也是我们连续18年的一个盈利了那我们去年的总收入是同比增长了9%达到了52.04亿港币那股东应战毅力方面呢也是强劲增长达到这个2.58亿港币然后我们去年也是维持了过往一贯的每年 ...

Financial Performance - Total revenue for the year ended December 31, 2024, reached HKD 5,203.8 million, an increase of 9.2% compared to HKD 4,763.7 million in 2023[3] - Profit attributable to shareholders surged to HKD 257.5 million, reflecting a remarkable growth of 809.9% from HKD 28.3 million in the previous year[3] - The company's earnings per share (basic) increased to HKD 0.346, a significant rise of 810.5% from HKD 0.038 in 2023[3] - The group achieved an EBITDA of HKD 5,038.4 million, marking a 15.1% increase from HKD 4,377.0 million in 2023[3] - The profit for 2024 was HKD 325.6 million, up HKD 105.4 million or 47.9% from 2023's HKD 220.2 million[40] - The total revenue for 2024 was HKD 5,203.8 million, an increase of HKD 440.1 million or 9.2% compared to 2023's HKD 4,763.7 million[42] - The company reported a total comprehensive income of HKD 142,236,000 for the year, compared to HKD 77,953,000 in 2023[96] Aircraft Operations and Fleet Management - The average passenger load factor for the airline subsidiary exceeded 70%, with over 1 million passengers transported and more than 9,000 flights operated during the year[13] - The company delivered 17 new aircraft and purchased 2 used aircraft during the review period[24] - The company's fleet consisted of 189 aircraft as of December 31, 2024, with 90% of owned aircraft being narrow-body models, maintaining a 100% rental rate[27] - The total fleet size decreased from 165 aircraft on December 31, 2023, to 159 aircraft on December 31, 2024[40] - The number of aircraft classified as held for sale increased by 289.8% from 4 aircraft in 2023 to 19 aircraft in 2024[64] - The total number of owned aircraft decreased from 165 in 2023 to 159 in 2024, with a notable increase in the A320 NEO series from 43 to 51[68] - The group completed the delivery of 19 aircraft during the year ending December 31, 2024[89] Financial Management and Capital Structure - The group issued its first perpetual medium-term notes in the Chinese market, diversifying its funding sources[10] - The group secured approximately HKD 24 billion in new and renewed financing, including aircraft project loans and RMB bonds, enhancing liquidity for business development[32] - The group issued its first USD 400 million warehouse-style aircraft financing in October 2024, marking a significant innovation in financing channels since 2015[32] - The group successfully issued RMB 3 billion and RMB 12 billion medium-term notes with interest rates of 2.75% and 3.3%, respectively, optimizing its capital structure[33] - The total amount of bonds and financing notes decreased significantly from HKD 5,943.5 million in 2023 to HKD 3,930.7 million in 2024, primarily due to the repayment of USD 240.3 million in bonds[80] - The total borrowings increased slightly by HKD 134.4 million or 0.3%, from HKD 42,911.8 million in 2023 to HKD 43,046.2 million in 2024[78] - The company plans to consider equity and debt financing opportunities to support rapid expansion and has established multiple aircraft investment platforms[83] Market and Growth Strategy - The global air passenger demand is expected to grow by 10.4% in 2024, with China's aviation market showing a record 730 million passengers, a 17.9% increase year-on-year[23] - The company aims to leverage its strengths to enhance its role in the global aviation market and create greater value for stakeholders[18] - The company plans to continue optimizing financial management and expanding its global operations in response to market opportunities[23] - The group aims to expand its global customer base and provide comprehensive aircraft lifecycle solutions in response to market opportunities[36] - The anticipated continuation of the interest rate reduction cycle is expected to lower market funding costs and accelerate the recovery of the global aircraft trading market[36] - The company plans to continue focusing on operational efficiency and cost management to improve future cash flows and profitability[102] Awards and Recognition - The group received two awards from Airline Economics, recognizing its contributions to sustainable development and business innovation in the aviation sector[11] - The company achieved an investment-grade international rating for the first time, reflecting its strong market position and asset quality[15] - The company received AAA ratings from two domestic rating agencies for its wholly-owned subsidiary, reflecting strong operational strength and credit status[15] Dividends and Shareholder Returns - The final dividend per share proposed is HKD 0.18, alongside an interim dividend of HKD 0.12, maintaining a total annual dividend of HKD 0.30[7] - The company declared a final dividend of HKD 0.18 per share for 2024, up from HKD 0.15 per share in 2023, reflecting a 20% increase[152] - The board has proposed a final dividend of HKD 0.18 per share for the year ending December 31, 2024, an increase from HKD 0.15 per share in 2023[159] Compliance and Governance - The company has adhered to all applicable corporate governance codes as of December 31, 2024, except for the absence of the chairman at the annual general meeting[167] - The Audit Committee, consisting of independent non-executive directors, reviewed the accounting principles and practices adopted by the group, including discussions on audit, internal controls, risk management, and financial reporting[170] - The consolidated financial statements for the year ending December 31, 2024, have been reviewed and agreed upon by the external auditor, Deloitte[172] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[93] - The group is evaluating the specific impact of the new Hong Kong Financial Reporting Standard 18 on its consolidated financial statements[110] - The group anticipates that the application of revised accounting standards will not have a significant impact on the consolidated financial statements in the foreseeable future[109]

中國飛機租賃集團控股有限公司 (根據開曼群島法例註冊成立的有限公司) 股份代號: 01848 2024 中期報告 全 球 視 野 佈 局 未 來 . ........... ES 27 一般資料 40 中期合併資產負債表 41 中期合併收益表 42 中期合併全面收益表 43 中期合併權益變動表 目錄 2 公司資料 4 管理層討論及分析 44 中期合併現金流量表 46 中期簡明合併財務資料附註 公司資料 2 中國飛機租賃集團控股有限公司 2024中期報告 | --- | --- | |----------------------------------------------------|------------------------------------------------------------------| | 董事會 | 註冊辦事處 | | 執行董事 | Maples Corporate Services Limited | | 張 明 翱 先 生 （董事會主席） | PO Box 309 | | 潘浩文先生 （首席執行官） | Ugland House | | 李國輝先生 （首席財務官兼首席策 ...

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 會 就 本 公 告 全 部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CHINA AIRCRAFT LEASING GROUP HOLDINGS LIMITED 中國飛機租賃集團控股有限公司 （根據開曼群島法例註冊成立的有限公司） （股份代號：1848） 截 至2024年6月30日止六個月 中期業績公告 中 國 飛 機 租 賃 集 團 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）公 佈 本 公 司 及 其 附 屬 公 司（「本集團」）截 至2024年6月30日止六個月之未經審核中期業績如下： 財務摘要 截 至6月30日止六個月 | --- | --- | --- | --- | |-------------------------------|-------------------|-------------------|--------| | | 2024 年 | 2023 年 | 變 動 | | ...

中國飛機租賃集團控股有限公司 (根據開曼群島法例註冊成立的有限公司) 股份代號: 01848 綠色增長 引領先行 年報 2023 Gammen . . . . . . .................. FSC 目錄 2 關於中飛租賃 4 財務摘要及五年財務概要 6 主席報告 10 首席執行官報告 15 管理層討論及分析 30 董事會報告 54 企業管治報告 76 風險管理報告 81 董事及高級管理層履歷 86 獨立核數師報告 94 合併資產負債表 95 合併收益表 96 合併全面收益表 97 合併權益變動表 99 合併現金流量表 101 合併財務報表附註 200 公司資料 中國飛機租賃集團控股有限公司 2023年報 2 關於中飛租賃 中 國 飛 機 租 賃 集 團 控 股 有 限 公 司（「中飛租賃」）致 力 於 為 全 球 航 空 公 司 及 飛 機 資 產 擁 有 人 提 供 飛 機 全 生 命 週 期 一 站 式 解 決 方 案，旗 下 業 務 包 括「飛 機 租 賃」及「飛 機 後 市 場」兩 個 主 要 板 塊，服 務 範 疇 包括飛機經營性租賃、購後租回、飛機資產包交易和資產管理等常規業務，也 ...

证券研究报告·公司点评报告·飞机租赁 中国飞机租赁（1848.HK） [ 2T 0ab 2le 3_M年ain业] 绩点评：业绩不及预期；飞机供不应求有望 [Table_Autho2r0] 24年 3月 27日 带动租金收益率上行 分析师 买入（维持） 欧阳诗睿 盈利预测与估值 2023A 2024E 2025E 2026E (852) 3982 3217 ouyangshirui@dwzq.com.hk 收入总额（百万港元） 4,763.70 5,152.95 5,327.93 5,466.23 同比 14.2% 8.2% 3.4% 2.6% 股[T价ab走le_势Pi cQuote] 归母净利润（百万港元） 28.30 229.04 496.12 796.19 同比 -61.5% 709.3% 116.6% 60.5% 每股收益-最新股本摊薄（港元/股） 0.04 0.31 0.67 1.07 P/B - 现价 0.57 0.57 0.52 0.47 数据来源：公司公告，东吴证券（香港） 投资要点 ◼ 2023年公司营收符合预期。2023年公司实现营收47.6亿港元（符合我 们的预期 47.9 亿港元）， ...

2024年3月24日 公司研究 美元加息侵蚀盈利，赎回永续债影响后置 ——中国飞机租赁（1848.HK）2023 全年业绩点评 要点 增持（维持） ◆事件：公司发布2023年业绩。公司23年实现收入47.6亿港元，同比增长 当 前价：3.31港元 14.2%；实现净利润2.2亿港元，同比增长2.1%；实现归母净利润0.28亿港元， 同比下降61.6%，主要原因是永续债成本大幅增加。剔除计提CAG减值影响， 作者 公司23年净利润约3.8亿港元，同比增长111%；归母净利润约1.8亿港元， 分析师：程新星 同比增长410%。公司拟派发23年末期股息1.1亿港元（每股0.15港元），加 执业证书编号：S0930518120002 上23年中期股息，公司23年全年共派发股息2.2亿港元（每股0.3港元），实 021-52523841 际现金分红率(调整后)约121%，与上年同期分红金额（每股0.3港元）持平。 chengxx@ebscn.com ◆航空需求复苏持续恢复，公司自有机队规模继续增长。公司2023年底自有机 联系人：卢浩敏 队规模为165架（同比增加15架），其中融资租赁合约飞机48架（同比减少 021- ...

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 本 公 告 全 部 或 任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CHINA AIRCRAFT LEASING GROUP HOLDINGS LIMITED 中國飛機租賃集團控股有限公司 （根據開曼群島法例註冊成立的有限公司） （股份代號：1848） 截 至2023年12月31日止年度 全年業績公告 中 國 飛 機 租 賃 集 團 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）公 佈 本 公 司 及 其 附 屬 公 司（「本集團」）截 至2023年12月31日止年度之經審核合併業績如下： 財務摘要 截 至12月31日止年度 | --- | --- | --- | --- | |------------------------------------|----------|----------|---------| | | | | | | | 2023 年 | 2022 年 | 變 動 | | | ...

Financial Performance - For the first half of 2023, the total revenue of the group reached HKD 2,326.3 million, representing a 23.0% increase compared to HKD 1,890.8 million in the same period last year[15]. - The profit attributable to shareholders for the first half of 2023 was HKD 201.2 million, a significant recovery from a loss of HKD 130.2 million in the same period of 2022[15]. - The profit for the period was HKD 306.9 million, a significant recovery from a loss of HKD 70.4 million in the same period last year[21]. - The group’s EBITDA for the six months ended June 30, 2023, was HKD 2,284.6 million, up from HKD 1,379.5 million in the previous year[21]. - Total revenue for the six months ended June 30, 2023, was HKD 2,326.3 million, an increase of HKD 435.5 million or 23.0% compared to HKD 1,890.8 million for the same period in 2022[23]. - Total leasing income from finance and operating leases was HKD 2,056.5 million, up HKD 402.7 million or 24.3% from HKD 1,653.8 million in the previous year, driven by an increase in fleet size from 150 to 162 aircraft[23]. - The net income for the period was HKD 306.9 million, compared to a loss of HKD 70.4 million in the same period last year[22]. - Basic earnings per share for the period were HKD 0.270, compared to a loss per share of HKD 0.175 in the previous year[22]. Fleet and Operations - The group delivered 13 new aircraft to airline customers during the review period, with a total fleet size increasing to 189 aircraft as of June 30, 2023[16]. - The average age of the owned fleet was 8.3 years, with an average remaining lease term of 5.8 years, and the utilization rate of the owned fleet reached 100%[16]. - The group has a total of 213 aircraft on order, including 120 Airbus, 65 Boeing, and 28 COMAC aircraft[16]. - As of June 30, 2023, 73.5% of the owned fleet was leased to airlines in China, with a total of 42 airline customers across 20 countries and regions[17]. - The group signed lease intention letters for 26 aircraft, all for overseas airline customers during the review period[17]. - The group is actively participating in the commercialization of domestic aircraft, having delivered a second ARJ21 aircraft to Lion Air during the review period[16]. Financial Position - As of June 30, 2023, total assets increased to HKD 63,185.6 million, a rise of HKD 7,853.5 million or 14.2% from December 31, 2022[21]. - The total liabilities increased to HKD 56,921.6 million, an increase of HKD 7,845.7 million or 16.0% from December 31, 2022, primarily due to an increase in interest-bearing debt[21]. - The group successfully secured over HKD 14.5 billion in new and renewed financing, including aircraft project loans and working capital loans, providing strong support for business development[18]. - The group’s cash and bank balances as of June 30, 2023, were HKD 6,202.7 million, with undrawn borrowing facilities of HKD 3,990.3 million, totaling HKD 10,193.0 million[18]. - The total interest-bearing debt increased from HKD 44,194.5 million to HKD 52,453.1 million, with an average effective interest rate of 5.72%[27]. - The company’s total assets rose by 14.2% to HKD 63,185.6 million as of June 30, 2023, compared to HKD 55,332.1 million as of December 31, 2022[54]. - The debt-to-equity ratio increased to 83.0% as of June 30, 2023, from 81.5% as of December 31, 2022, reflecting a 1.5 percentage point increase[54]. Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.15 per share, totaling HKD 112 million[15]. - The interim dividend declared for the six months ended June 30, 2023, is HKD 0.15 per share, consistent with the interim dividend for the same period in 2022[83]. - The company has not indicated any changes in its dividend policy or shareholder arrangements[63]. - The total issued and paid-up ordinary shares remained at 744,355,352 shares as of June 30, 2023, with a par value of HKD 0.1 per share[158]. Risk Management and Financing - The company has implemented a credit risk management system focusing on industry research and understanding the financial status of lessees to mitigate credit risk[118]. - The company has established policies to manage, limit, and control excessive concentration of credit risk, particularly through regular assessments of lessees' repayment capabilities[120]. - The company is actively seeking additional financing sources, including the issuance of bonds and medium-term notes[101]. - The management is confident in the ability to secure necessary financing through successful execution of aircraft project loans and debt instruments[101]. Market and Economic Outlook - The global aviation industry is expected to see a net profit of USD 9.8 billion in 2023, more than double previous forecasts, indicating a strong recovery trend[20]. - The global air passenger demand increased by 47.2% year-on-year in the first half of 2023, recovering to 90.3% of the levels seen in the same period of 2019[15]. Corporate Governance - The company adhered to all provisions of the Corporate Governance Code during the six months ended June 30, 2023[64]. - The Audit Committee reviewed the unaudited consolidated financial statements for the six months ended June 30, 2023, ensuring compliance with applicable accounting standards[66]. - The company’s governance framework emphasizes transparency, accountability, and the enhancement of shareholder value[64].