2018 年第三季度报告 公司代码：603885 公司简称：吉祥航空 上海吉祥航空股份有限公司 2018 年第三季度报告 1 / 20 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2018 年第三季度报告 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 19,908,588,465.09 | 20,236,911,145.55 | | -1.62% | | 归属于上市公司 | 9,669,972,609.80 | 8,650,255,690.32 | | 11.79% | ...

Financial Performance - The company reported a total revenue of RMB 3.5 billion for the first half of 2018, representing a year-on-year increase of 15%[12]. - The company's operating revenue for the first half of the year reached ¥6,930,397,870.85, an increase of 18.26% compared to ¥5,860,534,523.08 in the same period last year[21]. - The net profit for the first half of 2018 was RMB 200 million, a 20% increase compared to the same period last year[12]. - The net profit attributable to shareholders decreased by 1.07% to ¥618,280,776.90 from ¥624,947,390.37 year-on-year[21]. - The net profit after deducting non-recurring gains and losses increased by 12.45% to ¥572,055,921.94 compared to ¥508,738,831.34 in the previous year[21]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the first half of 2018, representing a 20% year-over-year growth[98]. - The company provided guidance for the next quarter, projecting a revenue growth of 25% and aiming to reach 1.875 billion[98]. Passenger Traffic and Operations - Passenger traffic increased by 12% year-on-year, with a total of 4.5 million passengers carried during the reporting period[12]. - The company transported over 9.07 million passengers in the first half of 2018, with a market share of 8.33% in Shanghai[29]. - The average load factor for flights was 85%, indicating efficient capacity utilization[12]. - The passenger load factor for the entire fleet reached 85.79% in the first half of 2018, with an average daily aircraft utilization of 10.76 hours[38]. - The company operates over 160 domestic and regional routes from its main base in Shanghai, focusing on direct flights to enhance operational efficiency[29]. - The company has established a secondary base in Nanjing, which saw a passenger throughput of 13.7465 million in the first half of 2018, a year-on-year increase of 13.64%[33]. Fleet and Expansion Plans - The company plans to expand its fleet by adding 5 new aircraft by the end of 2018, aiming to enhance operational capacity[12]. - The company plans to introduce 10 Boeing 787-9 wide-body aircraft starting in the second half of 2018 to support its international strategy and intercontinental routes[36]. - The company operates a fleet of 83 aircraft with an average age of only 4.4 years, which enhances operational efficiency and reduces maintenance costs[35]. - The subsidiary, Jiuyuan Airlines, operates 15 Boeing 737 aircraft and has opened over 80 domestic routes, targeting the low-cost airline market[30]. - The company expanded its route network significantly, opening over 30 domestic and international routes from its Nanjing base, enhancing its influence in the Yangtze River Delta market[40]. Financial Position and Assets - The total assets at the end of the reporting period were ¥20,662,713,158.67, reflecting a 2.10% increase from ¥20,236,911,145.55 at the end of the previous year[21]. - The company's cash flow from operating activities was ¥797,201,400.40, down 4.33% from ¥833,240,344.48 in the same period last year[21]. - The company’s total current assets as of June 30, 2018, amount to 7,821,833,610.42 RMB, a significant increase from 3,972,933,653.30 RMB at the beginning of the period[131]. - The cash and cash equivalents decreased from 2,102,966,964.94 RMB to 1,044,185,011.07 RMB during the same period[131]. Operating Costs and Expenses - Operating expenses increased by 10% to RMB 3.1 billion, primarily due to rising fuel costs and maintenance expenses[12]. - Operating costs increased by 21.38% to RMB 5,752,510,222.01, primarily due to rising fuel prices and airport fees[64]. - In the first half of 2018, the company's fuel costs amounted to RMB 1.813 billion, accounting for 31.52% of operating costs, with fuel consumption at 385,000 tons[83]. Strategic Initiatives and Technology - The company is investing in new technology for flight operations to improve efficiency and safety standards[12]. - The company plans to implement 34 system construction projects under its "Internet Plus" strategy to enhance operational efficiency and customer service[48]. - The company has adopted SAP software for integrated management since May 1, 2018, to enhance core competitiveness[112]. Risks and Challenges - The company has outlined potential risks related to market competition and regulatory changes in the aviation industry[5]. - The company is subject to risks from changes in aviation policies, which could impact operations and market access, including fare regulation and route management[80]. - The ongoing US-China trade tensions and tariffs on approximately USD 50 billion worth of Chinese goods may impact the company's operational performance due to currency fluctuations[84]. - The company faces risks related to matching professional personnel resources with its operational capacity, particularly as it expands its workforce to meet growing market demands[87]. Shareholder and Equity Information - The lock-up period for shares held by major shareholders, including Junyao Group, is set for 36 months from the date of listing on the Shanghai Stock Exchange[90]. - The company ensures that the equity structure will not change significantly after the public offering, maintaining the current actual controller[90]. - The largest shareholder, Shanghai Junyao (Group) Co., Ltd., holds 1,134,291,200 shares, representing 63.12% of total shares[122]. Compliance and Governance - The company has committed to maintaining compliance with regulatory requirements, ensuring no significant legal issues were reported during the period[99]. - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards[164]. - The company has assessed that its ability to continue as a going concern is good, with no significant doubts regarding its sustainability in the next 12 months[165].

2018 年第一季度报告 公司代码：603885 公司简称：吉祥航空 上海吉祥航空股份有限公司 2018 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 3 / 19 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 20,840,782,717.30 20,236,911,145.55 2.98% 归属于上市公司 股东的净资产 9,081,741,930.96 8,650,255,690.32 4.99% 年初至报告期末 上年初至上年报告期末 比上年同期增减(%) 经营活动产生的 现金流量净额 476,444,184.03 411,329,642.30 15.83% 年初至报告期末 上年初至上年报告期末 比上年同期增减（%） 营业收入 3,608,959,571.71 3,113,989 ...

Financial Performance - The company achieved a net profit of RMB 1,212,937,105.87 for the year 2017, with accumulated undistributed profits reaching RMB 3,069,287,449.24 as of December 31, 2017[5]. - The company's operating revenue for 2017 was CNY 12,411,690,491.20, representing a 25.01% increase compared to CNY 9,928,492,148.35 in 2016[23]. - The net profit attributable to shareholders for 2017 was CNY 1,325,631,155.02, a 6.13% increase from CNY 1,249,074,211.21 in 2016[23]. - The net cash flow from operating activities increased by 36.21% to CNY 2,761,349,265.06 in 2017, up from CNY 2,027,271,648.84 in 2016[23]. - The total assets at the end of 2017 were CNY 20,236,911,145.55, reflecting a 16.59% increase from CNY 17,357,455,944.26 at the end of 2016[23]. - The basic earnings per share for 2017 was CNY 0.74, a slight increase of 1.37% from CNY 0.73 in 2016[25]. - The weighted average return on equity decreased to 16.30% in 2017, down by 5.03 percentage points from 21.33% in 2016[25]. - The company reported a net profit of CNY 420,396,568.21 in the first quarter of 2017, with total operating revenue of CNY 3,113,989,331.94[27]. - Non-operating income for 2017 included CNY 115,796,111.39 from government subsidies, which is significant for the company's financial performance[29]. - The net assets attributable to shareholders increased by 13.40% to CNY 8,650,255,690.32 at the end of 2017, compared to CNY 7,628,285,628.14 at the end of 2016[23]. Dividend and Profit Distribution - A cash dividend of RMB 2.28 per 10 shares (including tax) was proposed, totaling RMB 409,719,072.756 distributed to shareholders[5]. - The company plans to allocate 10% of the net profit for the year to statutory surplus reserves, amounting to RMB 121,293,710.59[5]. - The net profit attributable to the company's ordinary shareholders for 2017 was approximately 1.33 billion RMB, with a dividend payout ratio of 30.91%[158]. - The company did not propose a capital reserve transfer to increase share capital for the 2017 fiscal year[156]. - The company’s cash dividend policy is applicable and has been executed as planned[156]. Operational Strategy and Market Position - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and customer experience[24]. - The company aims to expand its market presence in the low-cost airline sector, leveraging its existing infrastructure and market position[38]. - The company operates a fleet of 67 Airbus A320 series aircraft, including 26 A321s, and has over 170 domestic and regional routes[38]. - The company’s operational model focuses on maximizing aircraft utilization and reducing costs through a main operating base strategy[36]. - The company has established a long-term partnership with Airbus and Boeing, allowing for favorable procurement terms for aircraft[56]. - The company’s operational strategy emphasizes a young fleet and a unified aircraft model to reduce costs and improve efficiency[55]. - The company is actively optimizing its route network and increasing operational investment in key routes to improve market share and passenger volume[83]. - The company is focused on maintaining flight punctuality and improving service quality through data analysis and enhanced monitoring of key flights[133]. Risk Management - The report includes a risk statement indicating that future plans and strategies do not constitute a substantive commitment to investors, highlighting the importance of investment risk awareness[6]. - The report outlines potential risks that the company may face in its future development, detailed in the section discussing operational conditions[8]. - Potential risks include aviation safety concerns and changes in aviation industry policies that could impact future business operations[141]. - The company anticipates increased volatility in operating performance due to complex macroeconomic conditions, including fluctuations in the RMB exchange rate and rising international oil prices[154]. Fleet and Capacity - The fleet size expanded to 81 aircraft by the end of 2017, with an average aircraft age of only 4 years[78]. - The average fleet age of the company is only 4 years, with a total of 81 aircraft, which provides a significant operational efficiency advantage[55]. - The company plans to introduce 10 Boeing 787-900 wide-body aircraft starting in the second half of 2018 to support its international strategy[56]. - The company plans to introduce 16 new aircraft in 2017, with a net increase of 9 expected in 2018[79]. - The company aims to optimize its fleet structure by primarily using the new Airbus A320 series aircraft (158 seats) and introducing the A321 model (190-198 seats) to meet development needs over the next three to five years[131]. Customer Engagement and Marketing - The company registered over 1.2 million online channel members, a year-on-year increase of over 290%, reflecting the successful implementation of its e-commerce strategy[66]. - The company is focusing on developing direct sales channels and enhancing its loyalty programs to increase customer retention and market penetration[83]. - The marketing strategy includes optimizing the route network, enhancing customer data analysis, and developing a new marketing model that integrates service and sales[135]. - Jiuyuan Airlines aims to strengthen its brand image and recognition by launching advertising campaigns and enhancing customer trust in its services[137]. Financial Management - The company aims to enhance its cost structure and control measures, focusing on sustainable competitive advantages through effective budget management and cost control initiatives[87]. - Operating costs increased by 27.37% to ¥9,858,803,001.08 from ¥7,740,361,921.81, indicating a rise in expenses associated with the expanded fleet and route network[89]. - The company reported a significant increase in financial expenses by 49.45%, reaching ¥268,769,343.97, compared to ¥179,844,543.28 in the previous year[89]. - The company’s fuel cost in 2017 was 2.901 billion RMB, accounting for 29.43% of operating costs[147]. - The company has committed to distributing at least 30% of the average annual distributable profit over the next three years in cash, provided there are no significant investment plans or major cash expenditures[170]. Corporate Governance and Compliance - The company is committed to maintaining transparency and accuracy in its financial reporting, as confirmed by the standard unqualified audit report from the accounting firm[4]. - The company has not violated decision-making procedures in providing guarantees[8]. - The company has not disclosed any cash buyback of shares as part of its cash dividend plan[159]. - The company has committed to not transferring or entrusting the management of its shares for a period of 36 months following its IPO[159]. - The company will ensure timely and accurate information disclosure regarding any share reductions[163].

2017 年第三季度报告 公司代码：603885 公司简称：吉祥航空 1.2 公司全体董事出席董事会审议季度报告。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 21,575,289,192.64 | 17,357,455,944.26 | | 24.30% | | 归属于上市公司 | 8,553,705,784.42 | 7,628,285,628.14 | | 12.13% | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | | （1-9 月） | （1-9 月） | | | | 经营活动产生的 | 1,796,938,011.09 | 1,553,751,698.12 | | 15.65% | | 现金流量净额 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减 | | | | （1-9 ...

Financial Performance - The revenue for the first half of 2017 reached 3.2 billion RMB, an increase of 20% compared to the same period last year[18]. - The company's operating revenue for the first half of the year reached ¥5,860,534,523.08, representing a 23.35% increase compared to ¥4,751,242,865.96 in the same period last year[19]. - Net profit attributable to shareholders decreased by 12.00% to ¥624,947,390.37 from ¥710,207,174.17 year-on-year[19]. - The basic earnings per share fell by 20.45% to ¥0.35, down from ¥0.44 in the previous year[20]. - The weighted average return on equity decreased by 8.74 percentage points to 7.87% from 16.61% year-on-year[21]. - The company generated operating cash flow of ¥833,240,344.48, a 26.75% increase from ¥657,397,897.20 in the same period last year[19]. - The company reported a significant decrease in employee compensation liabilities from CNY 180,845,288.67 to CNY 107,472,621.75, a decline of 40.57%[74]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the first half of 2017, representing a year-over-year growth of 15%[118]. - The company provided guidance for the next quarter, expecting revenue to grow by 10% to 1.65 billion, driven by new product launches[118]. Passenger and Fleet Statistics - The company reported a significant increase in passenger numbers, with a total of 3.5 million passengers transported in the first half of 2017, representing a year-on-year growth of 15%[18]. - The company achieved a passenger load factor of 85%, which is a 2% increase from the previous year, reflecting strong demand for air travel[18]. - The overall passenger load factor for the fleet reached 87.10% in the first half of 2017, with an average daily aircraft utilization of 11.09 hours[39]. - The company transported over 7.934 million passengers in the first half of the year, with a market share of 8.78% in Shanghai[27]. - The company operates a fleet of 63 Airbus A320 series aircraft, focusing on high-efficiency operations from its main base in Shanghai[26]. - The company's fleet consists of 74 aircraft with an average age of 3.85 years, enhancing operational efficiency and reducing maintenance costs[35]. - The company plans to expand its fleet by adding 5 new aircraft by the end of 2017, aiming to enhance capacity and service offerings[18]. Cost Management and Operational Efficiency - The operating profit margin improved to 12%, up from 10% in the previous year, indicating better cost management and operational efficiency[18]. - Operating costs increased by 33.28% to CNY 4.74 billion, up from CNY 3.56 billion, primarily due to an increase in aircraft and a significant rise in fuel prices[70][72]. - The company aims to enhance its cost control measures, with a focus on optimizing its cost structure and improving operational efficiency[65][66]. - The company has set a target to reduce operational costs by 15% over the next year through efficiency improvements[118]. Future Outlook and Strategic Initiatives - Future guidance indicates an expected revenue growth of 15% for the second half of 2017, driven by increased flight routes and improved operational efficiency[18]. - The company is investing in new technology for customer service enhancements, including a mobile app for easier booking and check-in processes[18]. - The company plans to continue optimizing its route network, focusing on high-demand and high-revenue routes to improve market penetration[62]. - The company aims to expand its low-cost airline business through the establishment of Jiuyuan Airlines, which may enhance its customer base and profitability[90]. - The company plans to introduce 5 Boeing 787-900 wide-body aircraft in the second half of 2018 to support its international strategy[36]. Risks and Challenges - The company has outlined potential risks including fluctuations in fuel prices and macroeconomic conditions, which could impact future performance[4]. - The company faces risks related to changes in aviation policies that could impact future business development[85]. - The company’s operational management may face challenges due to the expansion of its business scale and the establishment of Jiuyuan Airlines[91]. - The company requires a sufficient reserve of qualified aviation professionals to match its operational capacity and avoid potential safety risks[93]. Shareholder and Equity Structure - The lock-up period for shares held by major shareholders will last for 36 months post-listing, during which no transfers or management by third parties are allowed[96]. - The maximum number of shares that can be publicly sold by major shareholders is capped at 40 million shares[97]. - The company ensures that the equity structure will not undergo significant changes post-public offering, maintaining the actual controller's status[97]. - The company has committed to ensuring that its controlling shareholders do not engage in any competitive activities with the company or its subsidiaries[116]. - The company reserves the right to require its controlling shareholders to divest their shares in any competing businesses[117]. Legal and Compliance Matters - There are no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment for the company[124]. - The company has a good integrity status during the reporting period, with no unfulfilled court judgments or significant overdue debts[124]. - The company is committed to maintaining transparency in related party transactions, ensuring compliance with regulatory requirements[119]. - The management emphasized the importance of protecting shareholder interests and avoiding conflicts of interest in business operations[119].

Financial Performance - Operating revenue for the period reached CNY 3.11 billion, a 22.02% increase from the same period last year[5] - Net profit attributable to shareholders decreased by 7.45% to CNY 420.40 million compared to the previous year[5] - Basic earnings per share fell by 17.50% to CNY 0.33[5] - The company reported an operating profit of CNY 446,102,349.71, down 11.7% from CNY 505,767,619.40 in the previous year[31] - Net profit for Q1 2017 was CNY 432,113,343.96, a decrease of 4.4% from CNY 452,027,071.35 in Q1 2016[31] - Net profit for the period was CNY 364,816,789.45, down 19.2% from CNY 451,707,822.32 in the same period last year[36] - Total comprehensive income attributable to the parent company was CNY 421,173,883.90, compared to CNY 454,663,208.67 in the prior year[33] - The company recorded a total profit of CNY 487,989,603.63, down from CNY 604,073,945.49 in the previous year[36] Assets and Liabilities - Total assets increased by 8.94% to CNY 18.91 billion compared to the end of the previous year[5] - The total assets reached approximately 18.91 billion yuan, up from 17.36 billion yuan at the beginning of the year[19] - The total assets as of March 31, 2017, amounted to CNY 14,503,571,306.85, compared to CNY 14,141,046,853.83 at the beginning of the year[27] - Total liabilities as of March 31, 2017, were CNY 6,434,880,798.43, slightly down from CNY 6,437,896,143.48 at the start of the year[27] - Shareholders' equity increased to CNY 8,068,690,508.42 from CNY 7,703,150,710.35 at the beginning of the year, reflecting a growth of 4.7%[27] - The company’s total liabilities to equity ratio stood at 0.80 as of March 31, 2017, indicating a stable leverage position[27] Cash Flow - Net cash flow from operating activities decreased by 20.10% to CNY 411.33 million[5] - Cash flow from operating activities generated a net inflow of CNY 411,329,642.30, down from CNY 514,774,898.52 in the previous year[40] - Operating cash inflow for the period was CNY 2,963,745,232.03, an increase of 13.8% from CNY 2,604,903,700.57 in the previous period[43] - Net cash flow from operating activities decreased to CNY 341,952,692.48, down 24.7% from CNY 454,517,917.66 year-on-year[43] - Cash inflow from financing activities was CNY 2,317,528,351.07, significantly higher than CNY 520,188,343.11 in the previous period[45] - Net cash flow from financing activities improved to CNY 374,589,170.77, compared to a net outflow of CNY 7,174,304.59 in the previous period[45] Shareholder Information - The total number of shareholders reached 37,208 by the end of the reporting period[9] - The largest shareholder, Shanghai Junyao Group, holds 63.12% of the shares[9] Investments and Assets Management - Investment income surged by 149.47% as the operating performance of the joint venture improved, reducing losses[13] - Minority interest profit increased by 632.16% due to significant profit growth from subsidiaries, including a net profit of over 65 million yuan from Jiuyuan Airlines in Q1[13] - Cash outflow for purchasing goods and services increased to CNY 1,623,037,683.40, up 60.7% from CNY 1,009,644,332.31 in the previous period[43] - Cash outflow for investment activities was CNY 273,811,917.78, a decrease of 18.5% from CNY 336,180,969.09 in the previous period[45] Government Subsidies - The company reported government subsidies of CNY 94.74 million related to normal business operations[7] - Cash received from government subsidies increased by 84.99%[15]

Financial Performance - The audited net profit for the parent company in 2016 was RMB 1,170,443,985.14, with cumulative undistributed profits amounting to RMB 2,298,539,317.71 as of December 31, 2016[2]. - The company's operating revenue for 2016 was RMB 9,928,492,148.35, representing a 21.70% increase compared to RMB 8,158,238,056.26 in 2015[21]. - The net profit attributable to shareholders for 2016 was RMB 1,249,074,211.21, a 19.27% increase from RMB 1,047,287,568.99 in 2015[21]. - The net assets attributable to shareholders increased by 126.69% to RMB 7,628,285,628.14 at the end of 2016, compared to RMB 3,365,101,312.66 at the end of 2015[21]. - The total assets at the end of 2016 were RMB 17,357,455,944.26, a 29.49% increase from RMB 13,404,571,231.19 in 2015[21]. - The basic earnings per share for 2016 was RMB 1.02, up 5.15% from RMB 0.97 in 2015[22]. - The cash flow from operating activities for 2016 was RMB 2,027,271,648.84, a 2.61% increase from RMB 1,975,629,344.94 in 2015[21]. - The company achieved a total revenue of 9.93 billion RMB in 2016, representing a year-on-year growth of 21.70%[82]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.50 per 10 shares, totaling RMB 320,895,263.75, and to increase the total share capital to 1,797,013,477 shares through a capital reserve conversion of 4 shares for every 10 shares held[2]. - The company reported a cash dividend distribution plan for 2015-2017, with a cash dividend of 641,790,527.5 RMB in 2016, representing 51.38% of the net profit attributable to ordinary shareholders[149]. Operational Strategy - The company operates in the aviation passenger and cargo transportation sector, with a total of 4 wholly-owned subsidiaries and 2 controlling subsidiaries[30]. - The company operates a main hub model with Shanghai Hongqiao and Pudong as primary airports, achieving a passenger transport volume of over 13 million in 2016, with 11.6 million passengers from Shanghai alone, resulting in a market share of 8.5% in Shanghai[31]. - The company aims to enhance operational efficiency and reduce costs through its main hub model, which minimizes expenses associated with establishing additional operational bases[31]. - The company is focused on expanding its low-cost airline market presence through Juneyao Airlines, leveraging the economic advantages of the Guangdong province and the Pearl River Delta region[32]. - The company aims to cover high, medium, and low-end passenger markets through its dual-brand and dual-hub operational strategy[67]. Market Position and Growth - The overall passenger transport volume in China's civil aviation industry reached 487.76 million in 2016, growing by 11.8% year-on-year, with domestic routes accounting for 436.14 million passengers, a 10.7% increase[45]. - The civil aviation industry in China is projected to continue its growth trajectory, with an expected annual increase of 10.8% in transportation turnover by 2020[37]. - The company’s market share in the civil aviation sector reflects its competitive positioning, particularly in major airports like Shanghai and Guangzhou[57]. - The company anticipates an annual growth rate of 10.8% in total transport turnover by 2020, with passenger transport expected to reach 720 million[123]. Fleet and Capacity - The company operates a fleet of 65 aircraft with an average age of 3.84 years, maintaining a young fleet to enhance operational efficiency and reduce maintenance costs[59]. - The company plans to introduce 5 Boeing 787-900 wide-body aircraft starting in the second half of 2018 to support its international strategy[62]. - The company plans to expand its fleet by adding 15 new aircraft in 2017, increasing the total fleet size to 80[81]. - The company’s overall fleet seat occupancy rate reached 85.69% in 2016, with an average daily aircraft utilization of 10.88 hours, exceeding the industry average[63]. Financial Management - The company has a total debt of RMB 9.622 billion, with approximately RMB 5.68 billion in interest-bearing debt, making it vulnerable to interest rate changes[141]. - The company’s financial expenses decreased by 32.82% to CNY 179,844,543.28, attributed to the repayment of part of the loans[96]. - The company reported a significant increase in repair costs, with expenses rising by 241.73% due to major engine overhauls and increased maintenance from fleet expansion[93]. Risk Management - The company has outlined potential risks in its future development strategy, which are detailed in the report[5]. - The company faces risks related to the fluctuation of the USD to RMB exchange rate, which could negatively impact its operating performance due to significant foreign currency liabilities[144]. - Changes in aviation policies, such as pricing regulations and fuel surcharge mechanisms, could impact the company's operations and profitability[136][137]. Corporate Governance - The actual controller and shareholders of the company committed to not transferring or entrusting the management of their shares for 36 months from the date of listing on the Shanghai Stock Exchange[151]. - The company has established a clear ownership of the shares intended for public offering, ensuring compliance with regulations[151]. - The company has committed to fully bear any economic losses resulting from violations of its commitments regarding related party transactions[156]. Community Engagement - The company engaged in charitable donations amounting to RMB 300,000 to the Shanghai Charity Foundation in 2016[172]. - The company ranked 62nd among the top 100 tax-paying enterprises in Shanghai's tertiary industry in 2016[172].

Financial Performance - Revenue for the first nine months rose by 23.98% to CNY 7.76 billion year-on-year[6] - Net profit attributable to shareholders increased by 30.07% to CNY 1.26 billion for the first nine months[6] - The company reported a net profit of CNY 999.21 million for the third quarter, an increase of 17.20% year-on-year[6] - Net profit increased by 32.40% attributed to expanded operational scale and stable market conditions[19] - The company reported a total profit for the first nine months of ¥1,687,626,122.37, up from ¥1,305,266,526.33, indicating a growth of approximately 29.3%[49] - Net profit for the first nine months was CNY 1,182,402,962.64, up from CNY 1,010,347,156.72, representing a year-over-year increase of about 17%[55] - The company has shown a consistent increase in net profit attributable to shareholders, with ¥554,335,476.06 for the third quarter compared to ¥454,518,644.67 in the same period last year, indicating a growth of approximately 21.9%[49] Assets and Liabilities - Total assets increased by 30.53% to CNY 17.50 billion compared to the end of the previous year[6] - The total current liabilities decreased to CNY 4.83 billion from CNY 5.93 billion, reflecting a reduction of about 18.6%[34] - The total non-current assets increased to CNY 13.18 billion from CNY 10.62 billion, reflecting a growth of approximately 24.5%[34] - Total liabilities decreased to ¥6,704,584,162.98 from ¥8,380,996,181.11, indicating a reduction of approximately 20%[42] Cash Flow - Operating cash flow for the first nine months was CNY 1.55 billion, up 3.16% from the previous year[6] - Cash flow from operating activities for the first nine months amounted to CNY 1,553,751,698.12, slightly higher than CNY 1,506,109,345.01 in the same period last year[60] - The net cash flow from operating activities was CNY 2,622,276,487.75, slightly down from CNY 2,638,842,823.50 in the previous year, indicating a decrease of approximately 0.8%[65] - Cash inflow from financing activities amounted to CNY 4,221,373,203.99, a significant increase of 49.2% from CNY 2,829,813,668.72 in the previous year[65] Shareholder Information - The total number of shareholders reached 41,439 by the end of the reporting period[14] - The largest shareholder, Shanghai Junyao Group, holds 63.12% of the shares[14] - The company distributed a cash dividend of RMB 2.5 per 10 shares, approved at the shareholder meeting[21] Earnings Per Share - Basic and diluted earnings per share decreased by 42.62% to CNY 1.05[8] - Basic earnings per share for the first nine months were CNY 0.98, down from CNY 1.91 in the same period last year, reflecting a decrease of approximately 49%[57] - Basic earnings per share for the third quarter were ¥0.44, while diluted earnings per share were also ¥0.44, compared to ¥1.325 in the same quarter last year[53] Operational Costs - Operating costs grew by 30.65% due to increased operational scale and engine overhauls[19] - Total operating expenses for the third quarter were ¥2,420,947,329.88, up 26.4% from ¥1,914,012,928.69 year-over-year[45] Investment and Financing Activities - Cash flow from investing activities showed a net outflow of CNY 2,668,016,315.38, an improvement from a net outflow of CNY 3,041,137,019.10 in the previous year[62] - The company paid CNY 2,509,840,811.41 for the acquisition of fixed assets, intangible assets, and other long-term assets, which is consistent with the previous year's expenditure of CNY 2,515,285,518.12[65] Commitments and Legal Obligations - The company commits to not transferring or entrusting its shares for 36 months following the stock's listing on the Shanghai Stock Exchange[24] - If there are false statements or omissions in the prospectus, the company will initiate a buyback of all newly issued shares within 30 days of regulatory recognition[26] - The company has committed to not engaging in any competitive activities with its subsidiaries, both currently and in the future[27]

Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares, totaling 320,895,263.75 RMB based on a total share capital of 1,283,581,055 shares as of June 30, 2016[3]. - The company has not implemented or adjusted any profit distribution plans during the reporting period[85]. - The company commits to distributing at least 30% of the average annual distributable profits over the next three years in cash, provided there are no significant investment plans or cash expenditures[110]. - The company will distribute no less than 10% of the annual distributable profits in cash each year[111]. - The company will initiate a share buyback plan if the stock price falls below the audited net asset value per share for 20 consecutive trading days within three years of listing[104]. - The total amount for the share buyback will not exceed the net profit attributable to the parent company from the previous year[104]. - If the repurchase measures are not implemented, major shareholders will not receive dividends for the current year[105]. Financial Performance - The company's operating revenue for the first half of 2016 was approximately RMB 4.75 billion, representing a year-on-year increase of 23.66% compared to RMB 3.84 billion in the same period last year[23]. - The net profit attributable to shareholders for the same period was approximately RMB 710.21 million, a 37.18% increase from RMB 517.71 million year-on-year[23]. - The basic earnings per share for the first half of 2016 was RMB 0.61, up 20.79% from RMB 0.505 in the previous year[24]. - The total assets at the end of the reporting period reached approximately RMB 18.79 billion, a 40.20% increase from RMB 13.40 billion at the end of the previous year[23]. - The company achieved a comprehensive load factor of 70.05%, which is an increase of 1.17 percentage points compared to the previous year[32]. - The company reported a total passenger turnover of 10.58 billion passenger kilometers, which is a 26.82% increase compared to 8.34 billion passenger kilometers in the same period last year[32]. - The total cargo and mail turnover was approximately 5.44 million ton-kilometers, reflecting a year-on-year increase of 26.38% from 4.31 million ton-kilometers[32]. Operational Highlights - The company expanded its fleet to 62 aircraft, with an average age of 3.50 years, making it one of the youngest fleets among major civil aviation companies in China[35]. - The number of operating routes increased by 28.24% to 109 routes as of the end of the reporting period[32]. - The company safely flew for 116,743.04 hours and completed 43,273 takeoffs and landings, marking increases of 24.10% and 16.50% respectively[37]. - The company opened 16 domestic and international routes from its Nanjing auxiliary base, which began operations on March 27, 2016[48]. - The company has established a strong operational base in Shanghai, leveraging the region's economic advantages to enhance market presence[57]. Financial Position and Assets - The total liabilities increased to CNY 11.29 billion from CNY 9.94 billion, an increase of about 13.6%[147]. - Owner's equity surged to CNY 7.51 billion, up from CNY 3.46 billion, indicating a growth of approximately 116%[147]. - Cash and cash equivalents reached CNY 4.02 billion, a significant increase from CNY 1.29 billion, representing a growth of about 212%[145]. - The company reported a significant increase in retained earnings, rising to CNY 2.12 billion from CNY 1.41 billion, an increase of about 50%[147]. Corporate Governance and Compliance - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a substantive commitment to investors, highlighting investment risks[4]. - The company has established and continuously improved its corporate governance structure in compliance with relevant laws and regulations[112]. - The company guarantees to cover any social insurance and housing fund liabilities incurred prior to its IPO, ensuring no losses to the company[110]. - The company will maintain transparency in its operations and adhere to information disclosure requirements[112]. Market Strategy and Future Plans - The company plans to enhance its sales and marketing efforts by optimizing its route network and improving service quality for high-end travelers[39]. - The company aims to establish a hub-and-spoke network centered in Guangzhou to cover major domestic cities and connect to Taiwan and Southeast Asia[43]. - The company plans to expand its fleet by adding 6 aircraft in the second half of 2016, resulting in a total fleet size of 68 by year-end, up from 62 at the beginning of the year[49]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[156]. Shareholder Structure and Changes - The total number of shareholders as of the end of the reporting period is 35,120[123]. - The top ten shareholders hold a total of 1,287,000,000 shares, representing 100% of the total shares[125]. - Major shareholder Wang Junjin holds 36.14% of the equity, controlling a total of 71.77% through arrangements with other shareholders[133]. - The company has a lock-up period of 36 months for certain shareholders, restricting them from transferring or managing their shares during this time[103]. Risk Management - The company has a significant exposure to foreign exchange risk, with long-term and short-term USD borrowings amounting to CNY 32.3 billion and CNY 24.355 billion respectively, which could impact profitability due to currency fluctuations[51]. - The company actively reduces short-distance routes in response to increased competition from high-speed rail, focusing on longer routes over 800 kilometers[64].