Financial Performance - The company reported a significant increase in passenger traffic, with a year-on-year growth of 25% in available seat kilometers (ASK) for the first half of 2022[8]. - Revenue from passenger transport reached approximately 50 billion RMB, marking a 30% increase year-on-year[8]. - Operating revenue for the first half of 2022 was RMB 40,817 million, a decrease of 20.86% compared to RMB 51,576 million in the same period of 2021[16]. - Net loss attributable to equity holders of the company was RMB (11,490) million, an increase of 144.99% from RMB (4,690) million in the first half of 2021[16]. - Net cash inflow from operating activities was RMB 1,654 million, down 66.52% from RMB 4,940 million in the same period of 2021[16]. - The company reported a net foreign exchange loss of RMB 2,052 million in the first half of 2022, compared to a net foreign exchange gain of RMB 793 million in the same period of 2021[64]. - Transportation revenue was RMB 37,875 million, down 22.00% year-on-year, primarily due to a decline in passenger revenue[55]. - Passenger revenue decreased to RMB 26,732 million, a drop of 32.65% year-on-year, attributed to repeated domestic COVID-19 outbreaks[56]. Operational Efficiency - The load factor improved to 80%, reflecting a 5% increase compared to the same period last year[8]. - The company is investing in new technology for operational efficiency, including a digital platform for customer engagement[8]. - Operating expenses decreased by 5.52% to RMB 53.35 billion from RMB 56.47 billion year-on-year[53]. - Operating expenses accounted for 130.70% of total operating revenue, an increase of 21.22 percentage points compared to the same period last year[59]. - Flight operation expenses were RMB 23,236 million, representing 43.55% of total operating expenses, influenced by rising fuel prices and reduced flight volumes[60]. - The company has established a lean cost control mechanism to enhance long-term cost management[33]. Future Outlook - Future guidance indicates an expected revenue growth of 20% for the next quarter, driven by increased travel demand[8]. - Future outlook remains cautious with ongoing market uncertainties and potential recovery strategies being evaluated[19]. - The company plans to expand its fleet by adding 20 new aircraft in the next fiscal year to enhance capacity[8]. Market Position and Strategy - The company is exploring strategic partnerships to enhance its market presence in Southeast Asia[8]. - The company aims to build a world-class aviation transport enterprise, focusing on quality and efficiency, and implementing a strategic framework of "32453" to achieve high-quality development[38]. - The company continues to focus on the development of its hub networks in Guangzhou and Beijing, aiming for a new development pattern of "North-South coordination, flying together"[40]. Environmental and Safety Initiatives - The company reported that all pollutant emissions during the reporting period complied with national emission standards, with no violations of environmental laws or regulations[108]. - The company implemented strict pollution control measures, ensuring that production-related waste gases were discharged according to permit standards[109]. - The company has established an environmental emergency management system to address sudden environmental incidents effectively[118]. - The company is committed to maintaining aviation safety throughout 2022, ensuring a high-quality safety management system[48]. Employee and Corporate Governance - The company had a total of 97,709 employees as of June 30, 2022, a slight decrease from 98,098 employees on December 31, 2021[98]. - The company’s board believes it has complied with the corporate governance code during the six months ending June 30, 2022[99]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[97]. Debt and Financing - The company has established a comprehensive debt repayment plan to ensure timely servicing of its financial obligations[177]. - The company is actively managing its debt financing tools in the interbank bond market, with ongoing evaluations of its non-financial corporate debt financing instruments[179]. - The company plans to continue its bond issuance strategy to support operational liquidity and expansion efforts in the coming quarters[180]. Shareholder Information - The company’s major shareholder, China Southern Airlines Group, held 64.20% of the total issued shares after the conversion of bonds[140]. - The total number of A shares issued by the company is 12,673,318,167, with 9,404,468,936 A shares directly owned by China Southern Airlines Group, representing 74.21% of the total A shares issued[172]. - The total number of H shares issued is 4,275,144,849, with 3,135,012,546 H shares indirectly owned by China Southern Airlines Group through its controlled entity, accounting for 73.33% of the total H shares issued[173].

Financial Performance - The company reported a significant increase in passenger traffic, with a year-on-year growth of 25% in revenue passenger kilometers (RPK) for the first half of 2022[7]. - The overall load factor improved to 80%, up from 75% in the same period last year, indicating better capacity utilization[7]. - The total operating revenue for the first half of 2022 reached RMB 50 billion, representing a 30% increase compared to the previous year[7]. - The company reported a net profit of RMB 5 billion for the first half of 2022, a significant recovery from the losses experienced in the previous year[7]. - The company's operating revenue for the first half of 2022 was RMB 40,817 million, a decrease of 20.86% compared to RMB 51,576 million in the same period last year[12]. - The net loss attributable to shareholders for the first half of 2022 was RMB (11,488) million, representing an increase of 145.05% from RMB (4,688) million in the previous year[12]. - The basic loss per share for the first half of 2022 was RMB (0.68), an increase of 126.67% compared to RMB (0.30) in the same period last year[13]. - The net loss for the first half of 2022 was RMB 11,983 million, compared to a net loss of RMB 3,964 million in the same period of 2021[157]. Revenue and Cost Analysis - The cargo revenue increased by 15%, contributing RMB 10 billion to the total revenue, driven by strong demand for air freight services[7]. - Passenger revenue decreased by 32.65% to RMB 26,732 million, primarily due to a 43.47% decline in domestic passenger turnover caused by adverse effects of the domestic pandemic[36]. - Cargo and mail revenue increased by 25.68% to RMB 11,143 million, driven by rising international freight rates[36]. - Operating costs for the first half of 2022 were RMB 49,455 million, a decrease of 4.65% year-on-year, with fuel costs rising by 16.69% to RMB 14,395 million[42]. - The gross profit margin for the main business decreased by 23.35% year-on-year, indicating challenges in profitability[44]. Operational Capacity and Fleet Management - The company plans to expand its fleet by adding 20 new aircraft by the end of 2023, enhancing its operational capacity[7]. - The fleet size as of June 30, 2022, totaled 880 aircraft, with an average age of 8.4 years[20]. - The total available seat kilometers (ASK) decreased by 34.33% from 114,295.35 million to 75,058.50 million[18]. - The total available ton kilometers (ATK) decreased by 26.92% from 17,863.41 million to 13,054.10 million[18]. - The total flight hours increased by 30.92% from 1,127.65 thousand hours to 779.02 thousand hours[19]. Strategic Initiatives and Future Outlook - Future guidance indicates an expected revenue growth of 20% for the second half of 2022, supported by increased travel demand[7]. - The company is focusing on digital transformation initiatives, aiming to enhance customer experience and operational efficiency through new technologies[7]. - The company aims to focus on high-quality development and strategic transformation towards digitalization and market-oriented operations[23]. - The company has no plans for major acquisitions in the near term but is exploring strategic partnerships to enhance market presence[7]. Environmental and Sustainability Efforts - The management highlighted the importance of sustainability initiatives, with plans to reduce carbon emissions by 10% over the next five years[7]. - The company is committed to green development and has been recognized as a key pollutant discharge unit in Shenyang and Guangzhou[82]. - The company achieved a fuel consumption of 2.83 tons per 10,000 ton-kilometers during the reporting period, demonstrating effective fuel management[99]. - The company has implemented a comprehensive environmental monitoring plan, ensuring that all major pollutants are within compliance during the reporting period[88]. - The company actively participated in carbon trading mechanisms, successfully completing the EU carbon trading compliance for 2021 in April 2022[93]. Financial Position and Liabilities - The total assets at the end of the reporting period were RMB 321,152 million, a slight decrease of 0.56% from RMB 322,948 million at the end of the previous year[12]. - The company's total liabilities reached RMB 249,764 million, up from RMB 238,703 million in the previous period[149]. - The current ratio decreased to 29.85%, down 4.27 percentage points from the previous year[51]. - The debt-to-asset ratio was 77.77%, an increase of 3.86 percentage points from 73.91% on December 31, 2021[51]. - The net assets attributable to shareholders at the end of the reporting period were RMB 56,143 million, a decrease of 16.97% from RMB 67,616 million at the end of the previous year[12]. Employee and Corporate Governance - As of June 30, 2022, the company had a total of 97,709 employees, a decrease from 98,098 employees on December 31, 2021[81]. - The company did not propose any profit distribution or capital reserve conversion plans for the half-year period[81]. - The company appointed KPMG Huazhen as the auditor for its 2022 domestic financial report and internal control report, as well as for its 2022 Hong Kong financial report[107]. - The company has not experienced a significant impact on its financial position or operating results from the adoption of new accounting regulations[121]. Market and Economic Challenges - The company faces macroeconomic risks that directly impact air passenger and cargo demand, affecting overall business performance[61]. - The company anticipates continued losses in the global aviation industry, with an estimated net loss of $9.7 billion for 2022 due to high oil prices and pandemic impacts[74]. - The Chinese civil aviation industry faced significant challenges, with passenger transport volume at 36.7% of 2019 levels[24].

Financial Performance - The total operating revenue for the first quarter of 2022 was RMB 21,471 million, representing a year-on-year increase of 1.03%[2] - The net profit attributable to shareholders of the listed company was RMB -4,496 million, a decrease of 12.23% compared to the same period last year[3] - The basic and diluted earnings per share were both RMB -0.27, reflecting a decrease of 3.85% year-on-year[3] - Total operating costs for Q1 2022 increased to RMB 28,055 million from RMB 27,038 million in Q1 2021, reflecting a rise of 3.76%[15] - Net profit attributable to shareholders of the parent company for Q1 2022 was a loss of RMB 4,496 million, compared to a loss of RMB 4,006 million in Q1 2021, indicating a deterioration of 12.2%[17] - The company recorded other income of RMB 550 million in Q1 2022, down from RMB 627 million in Q1 2021, a decrease of 12.3%[17] - The financial expenses for Q1 2022 were RMB 1,166 million, a decrease from RMB 1,530 million in Q1 2021, representing a reduction of 23.8%[15] Cash Flow - The net cash flow from operating activities was RMB 17 million, which is not applicable for year-on-year comparison[5] - The company reported a net cash flow from operating activities of RMB 17 million in Q1 2022, a recovery from a negative cash flow of RMB 51 million in Q1 2021[21] - Cash inflow from financing activities totaled $28,910 million, a decrease of 38.5% compared to $47,060 million in the previous period[22] - Net cash flow from financing activities was $1,081 million, down from $3,202 million, indicating a decline of 66.3%[22] - Cash and cash equivalents at the end of the period were $19,720 million, compared to $25,019 million at the end of the previous period, reflecting a decrease of 21.1%[22] - The company reported a cash decrease of $1,736 million during the period, compared to a decrease of $400 million previously[22] Assets and Liabilities - The total assets at the end of the reporting period were RMB 319,820 million, a decrease of 0.97% from the end of the previous year[3] - The company's total liabilities amounted to RMB 240,114 million, slightly up from RMB 238,703 million in the previous year[13] - The company's non-current assets totaled RMB 284,393 million, a slight decrease from RMB 285,082 million year-over-year[12] - Short-term borrowings increased significantly to RMB 35,862 million from RMB 25,116 million year-over-year[12] - The company's current assets totaled RMB 35,427 million, a decrease from RMB 37,866 million at the end of the previous year[12] Shareholder Information - The company had a total of 142,786 common shareholders at the end of the reporting period[6] - The largest shareholder, China Southern Airlines Group, held 50.75% of the shares, totaling 8,600,897,508 shares[6] - The company reported a total equity of RMB 16,948 million, unchanged from the previous year[13] - The equity attributable to shareholders of the listed company was RMB 63,120 million, down 6.65% from the end of the previous year[3] Guarantees and Commitments - The total amount guaranteed by the company for SPV companies reached $53.79 million as of the report date[10] - The company has provided guarantees for 43 SPV companies, with the highest guarantee amounting to $5.88 million for SPV company 南航 9 号[10] - The company has a total of 43 SPV companies that have received guarantees, indicating a strong commitment to supporting its subsidiaries[10] Accounting and Reporting Changes - The company has adopted new accounting standards starting in 2022, which may affect future financial reporting[22]

Financial Performance - Operating revenue for Q1 2022 was RMB 21,471 million, an increase of 1.03% compared to the same period last year[4] - Net profit attributable to shareholders was a loss of RMB 4,496 million, representing a decrease of 12.23% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of RMB 4,575 million, a decline of 18.89% compared to the previous year[4] - The basic and diluted earnings per share were both RMB -0.27, reflecting a decrease of 3.85% year-on-year[4] - Net profit for Q1 2022 was a loss of RMB 4,539 million, compared to a loss of RMB 4,114 million in Q1 2021[18] - The company reported a total comprehensive loss of RMB 4,539 million in Q1 2022, compared to a loss of RMB 4,102 million in Q1 2021[20] Assets and Liabilities - Total assets at the end of the reporting period were RMB 319,820 million, down 0.97% from the end of the previous year[4] - Total assets as of March 31, 2022, were RMB 319,820 million, a decrease from RMB 322,948 million as of December 31, 2021[16] - Total liabilities increased from RMB 238,703 million as of December 31, 2021, to RMB 240,114 million as of March 31, 2022, indicating a growth of about 0.6%[15] - Shareholders' equity attributable to shareholders was RMB 63,120 million, a decrease of 6.65% compared to the previous year[4] - Shareholders' equity attributable to the parent company decreased to RMB 63,120 million from RMB 67,616 million[16] Cash Flow - The net cash flow from operating activities was RMB 17 million, with no applicable year-on-year comparison[4] - Cash inflow from operating activities in Q1 2022 was RMB 23,889 million, an increase from RMB 22,500 million in Q1 2021[21] - Net cash outflow from operating activities for Q1 2022 was 23,872 million, compared to 22,551 million in Q1 2021, reflecting an increase of 5.8%[22] - Net cash flow from investing activities for Q1 2022 was -2,834 million, an improvement from -3,552 million in Q1 2021, indicating a reduction in cash outflow by 20.3%[22] - Cash inflow from financing activities in Q1 2022 totaled 28,910 million, down 38.5% from 47,060 million in Q1 2021[23] - The net increase in cash and cash equivalents for Q1 2022 was -1,736 million, worsening from -400 million in Q1 2021[23] - The ending balance of cash and cash equivalents for Q1 2022 was 19,720 million, down from 25,019 million in Q1 2021, representing a decline of 21.1%[23] Operational Metrics - The company had a weighted average return on equity of -5.54%, an increase of 0.41 percentage points year-on-year[4] - Total current assets decreased from RMB 37,866 million as of December 31, 2021, to RMB 35,427 million as of March 31, 2022, a decline of approximately 6.4%[13] - Total non-current assets slightly decreased from RMB 285,082 million as of December 31, 2021, to RMB 284,393 million as of March 31, 2022[14] - Accounts receivable increased from RMB 2,894 million as of December 31, 2021, to RMB 3,116 million as of March 31, 2022, reflecting an increase of about 7.7%[12] Employee and Tax Expenses - Cash paid to employees in Q1 2022 was 7,398 million, an increase of 6.7% from 6,934 million in Q1 2021[22] - Cash paid for taxes in Q1 2022 was 1,257 million, up 50.6% from 834 million in Q1 2021[22] Guarantees and Compliance - The company has provided guarantees totaling $53.79 billion for 43 SPV companies as of the reporting period end[11] - The company continues to manage its SPV guarantees within the authorized limits set by the shareholders' meeting, ensuring compliance and risk management[11]

Fleet and Operations - The fleet size of the group is 878 aircraft, making it the largest in Asia and among the top in the world[10] - The company has established two major international hubs in Guangzhou and Beijing, gradually forming a network airline model[10] - The company operates a network of 18 subsidiaries and 53 overseas offices, including major cities like Sydney and New York[9] - The company has launched six fast routes, enhancing connectivity in the Greater Bay Area[10] - The company aims to strengthen the integration of the Greater Bay Area, consolidating its market control[10] - The fleet size at the end of 2021 was 878 aircraft, with plans to increase to 937 by the end of 2022[30] - The average fleet age was 8.0 years, with an overall load factor of 71.25% for passenger aircraft[95] - The company introduced 22 new aircraft during the reporting period, including 2 B787 series and 10 A320 series[96] Financial Performance - Operating revenue for 2021 was CNY 101,644 million, an increase of 9.81% from CNY 92,561 million in 2020[18] - Net loss attributable to equity holders for 2021 was CNY (12,106) million, compared to CNY (10,847) million in 2020, representing an increase in loss of 11.61%[18] - Passenger revenue in 2021 was RMB 75,392 million, up 6.89% from RMB 70,534 million in 2020, with domestic passenger revenue increasing by 18.80% to RMB 68,656 million[73] - Cargo and mail revenue rose by 20.58% to RMB 19,887 million in 2021, compared to RMB 16,493 million in 2020[73] - The company's operating expenses increased by RMB 7,229 million or 6.63% to RMB 116,340 million in 2021 from RMB 109,111 million in 2020[72] - The operating loss for 2021 was RMB 9,929 million, compared to an operating loss of RMB 11,864 million in 2020[78] - The total assets as of December 31, 2021, were CNY 323,211 million, a decrease of 0.97% from CNY 326,383 million in 2020[18] - The total liabilities decreased by 1.06% to RMB 238,703 million as of December 31, 2021, compared to RMB 241,252 million in 2020[85] Market Share and Strategy - The market share at Beijing Daxing International Airport reached 45.9% in 2021, with a focus on high-quality development of the Beijing hub[10] - The domestic starting capacity share in the Guangdong-Hong Kong-Macao Greater Bay Area reached 38%[10] - The company is actively promoting the Hainan Free Trade Port strategy to enhance market share in key cities in Hainan[10] - The company has established a hub network strategy centered around Guangzhou and Beijing, with nearly 50% market share in Guangzhou[70] - The company emphasizes high-quality development, focusing on six major transformations, including a shift from speed to quality and from traditional business models to digitalization[67] - The company is actively expanding its hub network, focusing on the development of the Guangzhou and Beijing international hubs, and enhancing flight coverage in the Greater Bay Area[50] Safety and Efficiency - The company has received the highest award for flight safety in Chinese civil aviation, the "Diamond Two-Star Award" for flight safety[10] - The company maintained a safety record of 2.11 million flight hours during the reporting period[44] - The company is focused on the development of new products and technologies to enhance operational efficiency[10] - The company has implemented a green flight initiative, reducing in-flight meal waste by over 2,000 tons through on-demand meal services[57] - The company achieved a flight punctuality rate that ranked first in the industry for six consecutive years[71] Cargo Operations - Cargo traffic (RTK) for international routes increased by 8.77% to 6,434.18 million kilometers in 2021 from 5,915.47 million kilometers in 2020[20] - The company achieved a record high in cargo operations, with a total cargo volume of 732,000 tons, up 8.2% year-on-year[44] - The company reported a strong demand for air cargo, with cargo revenue expected to reach USD 175 billion globally[59] - The average revenue per ton kilometer for cargo increased by 13.66% to RMB 2.58, with international routes showing a 14.57% increase[25] Challenges and Risks - The company faces risks from macroeconomic fluctuations, which directly impact air passenger and cargo demand[118] - The company acknowledges the competitive risks from other transportation modes, particularly the growing high-speed rail network[118] - The global airline industry is projected to continue facing losses in 2022, with the International Air Transport Association estimating a net loss of USD 51.8 billion for the global airline industry in 2021[107] Future Plans - The company plans to enhance domestic market capacity and improve international route profitability in 2022, with new domestic routes planned[98] - The company plans to introduce new aircraft models, including 67 new passenger aircraft by the end of 2022[30] - The company plans to increase domestic capacity, optimize international layout, and enhance market control to improve operational efficiency and profitability[116] - The company will focus on cargo market opportunities, increasing cargo aircraft utilization, and expanding the scale of passenger-to-freight flights[116] Shareholder and Financial Management - The company has a plan to supplement working capital with the funds raised from the H-share issuance[175] - The company plans to issue up to 803,571,428 new A-shares to China Southern Airlines Group, raising a maximum of RMB 4,500 million for working capital[181] - The company issued RMB 16 billion in convertible bonds, with an initial conversion price of RMB 6.24 per share[178] - The company has secured a credit line of approximately RMB 295,683 million from domestic banks, with RMB 204,051 million remaining unused as of December 31, 2021[94] Corporate Governance - The independent non-executive directors confirmed that all related party transactions were conducted under normal commercial terms and in the best interest of shareholders[185] - The company has complied with all relevant laws and regulations affecting its operations, ensuring safety and compliance in applying for new flight slots[147] - There were no significant contracts signed with controlling shareholders or their subsidiaries during the fiscal year[149]

Financial Performance - China Southern Airlines reported a net profit of CNY 1.5 billion for the fiscal year 2021, marking a significant recovery from the previous year's loss of CNY 7.1 billion[3]. - The total revenue for the year reached CNY 36.2 billion, an increase of 25% compared to 2020[3]. - The company's operating revenue for 2021 was RMB 101,644 million, an increase of 9.81% compared to RMB 92,561 million in 2020[20]. - The net loss attributable to shareholders for 2021 was RMB 12,103 million, representing an increase of 11.63% from a net loss of RMB 10,842 million in 2020[20]. - The net cash flow from operating activities for 2021 was RMB 13,371 million, a significant increase of 47.76% compared to RMB 9,049 million in 2020[20]. - The company's total assets at the end of 2021 were RMB 322,948 million, a decrease of 0.97% from RMB 326,115 million at the end of 2020[20]. - The total operating revenue for the reporting period was RMB 101,644 million, an increase of RMB 9,083 million or 9.81% year-on-year[63]. - Passenger transportation revenue reached RMB 75,392 million, accounting for 76.52% of total revenue, with a year-on-year increase of RMB 4,858 million or 6.89%[63]. - Cargo and mail transportation revenue was RMB 19,887 million, representing 20.18% of total revenue, up RMB 3,394 million or 20.58% year-on-year[63]. - The total operating cost was RMB 104,229 million, an increase of RMB 9,326 million or 9.83% year-on-year, with fuel costs rising by 35.69% to RMB 25,505 million[64]. Operational Metrics - Passenger traffic increased by 30% year-over-year, with a total of 100 million passengers carried during the year[3]. - The airline's capacity, measured in available seat kilometers (ASK), grew by 28% to 120 billion kilometers[3]. - The load factor improved to 80%, up from 75% in the previous year, indicating better utilization of available capacity[3]. - The company reported a significant increase in investment cash flow, which rose by 95.37% to RMB 15,149 million, compared to RMB 7,754 million in the previous year[72]. - The fleet size at the end of 2021 was 878 aircraft, with 22 deliveries and 11 retirements during the reporting period[44]. - The company plans to deliver 68 aircraft in 2022 and 73 in 2023, with a total fleet forecast of 1,003 by the end of 2023[45]. - The average daily utilization rate of the fleet was 6.96 hours, with a passenger load factor of 71.25%[75]. - The company transported over 130 million doses of COVID-19 vaccines domestically and internationally during the reporting period[31]. Strategic Initiatives - China Southern Airlines plans to expand its fleet by adding 30 new aircraft in the next two years to support growth[3]. - The company is focusing on enhancing its digital services and customer experience through new technology initiatives[3]. - The company aims to transition from speed-focused growth to quality-focused growth, emphasizing strategic market breakthroughs and digital transformation[56]. - The company is committed to enhancing its hub network strategy, with a focus on creating a dual-driven development model between Guangzhou and Beijing[59]. - The company is implementing a long-term cost control mechanism to support high-quality development, including projects for budget management and digital finance[99]. Market Outlook - Future guidance indicates an expected revenue growth of 15% for the upcoming fiscal year, driven by increased travel demand[3]. - The company is focused on maximizing marginal contributions in the domestic market while enhancing the quality of international route revenues[78]. - The company is actively expanding its hub network, focusing on the construction of comprehensive international hubs in Guangzhou and Beijing[35]. - The company aims to enhance operational efficiency and service quality, focusing on digital transformation in operations and fuel management to reduce fuel consumption per available ton-kilometer[101]. Risk Management - There are no significant risks reported regarding non-operational fund occupation by controlling shareholders during the reporting period[4]. - The company is committed to safety and risk management, implementing a dual prevention mechanism for safety risk control and hazard identification[98]. - The company is addressing macroeconomic risks that could impact air transport demand, including economic fluctuations and government policy changes[103][104]. Governance and Compliance - The company held 3 shareholder meetings during the reporting period, ensuring legal compliance and fair participation for all shareholders, especially minority investors[118]. - The board of directors consists of 6 members, with independent directors making up over 50% of the board, and the board convened 14 meetings in 2021[119]. - The company has established a "large information disclosure team" to enhance compliance management and improve the systematic and proactive nature of its disclosure practices[128]. - The company has not faced significant differences in governance compared to regulatory requirements, ensuring compliance with laws and regulations[129]. Environmental Initiatives - The company has implemented a carbon peak and carbon neutrality action plan, outlining its timeline and roadmap for achieving these goals[191]. - The company has constructed a wastewater treatment system that meets national discharge standards, with chemical oxygen demand measured at 16 mg/L[178]. - The company has achieved a significant reduction in carbon emissions through initiatives like single-engine taxiing and meal conservation programs[186]. - The company has initiated a comprehensive plan to address plastic pollution, including standards for replacing non-degradable plastic products[189].