Financial Performance - Operating revenue for Q3 2024 was RMB 38,386 million, representing a 6.23% increase compared to RMB 36,136 million in the same period last year[4]. - Net profit attributable to shareholders for Q3 2024 was RMB 2,630 million, a decrease of 28.18% from RMB 3,662 million year-on-year[4]. - Net profit excluding non-recurring gains and losses for Q3 2024 was RMB 2,430 million, down 30.59% from RMB 3,501 million in the previous year[4]. - The basic earnings per share for Q3 2024 was RMB 0.12, a decline of 25.00% compared to RMB 0.16 in the same period last year[4]. - The weighted average return on equity for Q3 2024 was 14.21%, down from 14.62% in the previous year[4]. - For the first three quarters of 2024, the total operating revenue reached RMB 102,585 million, an increase of 19.7% compared to RMB 85,647 million in the same period of 2023[23]. - The total operating costs for the first three quarters of 2024 were RMB 107,472 million, up from RMB 92,643 million in 2023, indicating a rise of 15.9%[23]. - The operating profit for the first three quarters of 2024 was reported at RMB -319 million, a significant improvement from RMB -3,225 million in the same period of 2023[23]. - Total profit for the first three quarters of 2024 reached RMB 51 million, a significant improvement from a loss of RMB 3,051 million in the same period of 2023[24]. - Net profit attributable to shareholders of the parent company was a loss of RMB 138 million, compared to a loss of RMB 2,596 million in the previous year, indicating a reduction in losses by approximately 94.7%[25]. - The company reported a total comprehensive loss of RMB 375 million for the first three quarters of 2024, compared to a loss of RMB 2,634 million in the same period of 2023[25]. - Basic and diluted earnings per share for the first three quarters of 2024 were both -0.01 yuan, an improvement from -0.12 yuan in the same period of 2023[25]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was RMB 26,377 million, showing a slight increase of 0.37% from RMB 26,281 million in the previous year[4]. - Cash and cash equivalents decreased to RMB 6,544 million as of September 30, 2024, down from RMB 12,177 million at the end of 2023, a decline of 46.2%[17]. - The cash and cash equivalents at the end of the first three quarters of 2024 were RMB 6,293 million, down from RMB 13,565 million at the end of the same period in 2023[30]. - Operating cash inflow for the first three quarters of 2024 was RMB 123,212 million, up 19% from RMB 103,553 million in the same period of 2023[26]. - The company received cash from operating activities totaling RMB 109,888 million, an increase of 17.9% from RMB 93,281 million in the previous year[26]. - Cash flow from investing activities resulted in a net outflow of RMB 11,829 million, compared to a net outflow of RMB 10,761 million in the same period of 2023[28]. - Cash flow from financing activities showed a net outflow of RMB 20,105 million, similar to a net outflow of RMB 20,128 million in the previous year[30]. - As of September 30, 2024, the total assets of China Eastern Airlines amounted to RMB 276,257 million, a decrease from RMB 282,574 million as of December 31, 2023, reflecting a decline of approximately 2.3%[18]. - The total liabilities decreased from RMB 241,251 million as of December 31, 2023, to RMB 235,438 million as of September 30, 2024, representing a reduction of about 2.3%[19]. Shareholder Information and Corporate Actions - The total number of common shareholders at the end of the reporting period is 186,678[10]. - China Eastern Airlines Group holds 8,858,963,273 shares, accounting for 39.74% of total shares[10]. - HKSCC NOMINEES LIMITED holds 4,703,650,775 shares, representing 21.10% of total shares[10]. - The company plans to repurchase shares with a total amount of RMB 5 billion to 10 billion, subject to shareholder approval[14]. - The company will complete the merger with Shanghai Jidao Aviation Management Co., which holds 589,041,096 shares (2.64% of total shares)[13]. - The company intends to increase capital in Shanghai Airlines Co., Ltd. by RMB 4.5 billion, raising its registered capital to RMB 10 billion[14]. - The company has completed a share buyback plan, accumulating a total of 152,157,306 A-shares and 152,156,000 H-shares, with a total investment of approximately RMB 9.78 billion[15]. - The company will have 1,138,952,165 A-shares released from lock-up on July 12, 2024[13]. - The company’s major shareholder, China Eastern Airlines Group, plans to increase its stake in the company by at least RMB 5 billion within 12 months[15]. - The company’s board of directors has approved the liquidation of Yijia Airlines Co., Ltd. through a merger[14]. Management Changes - The company appointed Deloitte as the domestic and international financial report auditor for the fiscal year 2024, pending shareholder approval[16]. - Liu Tiexiang has been appointed as the new General Manager of the company following the resignation of Li Yangmin[16]. Operational Performance - The company faced intensified competition in the domestic passenger market, which contributed to the decline in net profit for the reporting period[8]. - The company has increased capacity deployment and optimized route and resource allocation to improve operational performance year-to-date[8]. - The company reported an increase in accounts receivable from RMB 2,191 million as of December 31, 2023, to RMB 2,745 million as of September 30, 2024, reflecting a growth of 25.3%[17]. - The company’s inventory rose to RMB 1,824 million as of September 30, 2024, compared to RMB 1,640 million at the end of 2023, marking an increase of 11.2%[18].
中国东方航空股份(00670) - 2024 Q3 - 季度业绩