SA(601021)2024-10-30 10:42Financial Performance - Operating revenue for Q3 2024 was CNY 6,101,642,741, an increase of 0.48% year-on-year[2] - Net profit attributable to shareholders for Q3 2024 was CNY 1,243,675,065, a decrease of 32.37% year-on-year[2] - Basic earnings per share for Q3 2024 was CNY 1.27, down 32.45% compared to the same period last year[3] - Total operating revenue for the first three quarters of 2024 reached ¥15,976,745,748, an increase of 13.3% compared to ¥14,102,715,040 in the same period of 2023[14] - Net profit for the first three quarters of 2024 was ¥2,604,247,333, a decrease of 2.7% from ¥2,677,359,925 in 2023[16] - Basic earnings per share for the first three quarters of 2024 were ¥2.67, down from ¥2.74 in the same period of 2023[17] Assets and Liabilities - Total assets at the end of Q3 2024 were CNY 42,865,503,090, a decrease of 3.10% from the end of the previous year[3] - As of September 30, 2024, the total assets of Spring Airlines amounted to CNY 42.87 billion, a decrease from CNY 44.24 billion as of December 31, 2023, reflecting a decline of approximately 3.1%[12] - The total liabilities decreased to CNY 25.15 billion from CNY 28.49 billion, representing a reduction of about 11.8%[12] - The company's cash and cash equivalents stood at CNY 9.61 billion, down from CNY 11.58 billion, indicating a decrease of approximately 17.4%[11] - The total non-current assets increased to CNY 31.72 billion from CNY 31.26 billion, showing a growth of about 1.5%[12] Shareholder Equity - Shareholder equity attributable to shareholders increased to CNY 17,715,764,039, up 12.48% from the previous year[3] - The total equity attributable to shareholders increased to CNY 17.72 billion from CNY 15.75 billion, marking an increase of about 12.4%[13] - The company's retained earnings rose to CNY 8.51 billion from CNY 6.59 billion, an increase of approximately 29.1%[13] Cash Flow and Operating Activities - The net cash flow from operating activities for the year-to-date was CNY 5,513,278,655, down 9.59% year-on-year[2] - Cash flow from operating activities generated ¥5,513,278,655, down from ¥6,097,766,594 in the same period last year[18] - Cash and cash equivalents at the end of Q3 2024 totaled ¥9,233,341,644, a decrease from ¥12,773,690,155 at the end of Q3 2023[19] Costs and Expenses - Total operating costs increased to ¥13,653,064,156, up 15.6% from ¥11,813,308,205 in the previous year[14] - Research and development expenses for the first three quarters of 2024 were ¥117,944,255, compared to ¥107,110,895 in 2023, reflecting a growth of 10.5%[14] - The company's financial expenses decreased to ¥189,054,481 in 2024 from ¥205,959,162 in 2023, a reduction of 8.2%[14] Other Financial Metrics - The weighted average return on equity for Q3 2024 was 7.29%, a decrease of 4.72 percentage points year-on-year[3] - Non-recurring gains and losses for Q3 2024 totaled CNY 2,710,288, with government subsidies contributing CNY 3,853,692[4] - The company reported a decline in gross margin as a primary reason for the decrease in net profit[5] - The company experienced a foreign exchange impact of -¥25,878,574 on cash and cash equivalents in 2024, compared to a positive impact of ¥98,779,299 in 2023[19] Inventory and Payables - The company's inventory rose to CNY 264.60 million from CNY 202.06 million, reflecting an increase of approximately 30.9%[12] - The company's accounts payable increased to CNY 1.02 billion from CNY 902.39 million, representing an increase of approximately 13.1%[12] - Short-term borrowings significantly decreased to CNY 376.80 million from CNY 3.78 billion, a reduction of about 90%[12] - The company reported a significant increase in prepayments to CNY 617.36 million from CNY 384.99 million, reflecting an increase of about 60.5%[11]