Financial Performance - Operating revenue for the third quarter was RMB 18,135,912 thousand, a decrease of 8.37% compared to the same period last year[3] - Net profit attributable to shareholders was a loss of RMB 8,668,358 thousand, with a year-to-date loss of RMB 28,103,264 thousand, reflecting a significant decline[3] - Total operating revenue for the first three quarters of 2022 was RMB 42,088,565, a decrease of 26.7% compared to RMB 57,457,425 in the same period of 2021[18] - Net profit for the first three quarters of 2022 was a loss of RMB 32,412,286, compared to a loss of RMB 11,796,418 in the same period of 2021, indicating a significant decline in profitability[19] - The company reported a basic earnings per share of -2.05 in 2022, compared to -0.75 in 2021, reflecting worsening financial performance[20] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was RMB -4,895,560 thousand, representing a decrease of 148.23% compared to the previous year[3] - Operating cash flow for the first three quarters of 2022 was -4,895,560 thousand RMB, a significant decrease from 10,151,293 thousand RMB in the same period of 2021[22] - The total cash inflow from operating activities was 52,309,212 thousand RMB, down from 67,996,587 thousand RMB in the same period of 2021[22] - Cash and cash equivalents were reported at RMB 14,577,834 thousand, down from RMB 16,709,664 thousand, indicating a decrease of about 13%[13] - Cash and cash equivalents at the end of Q3 2022 totaled 13,775,693 thousand RMB, down from 8,768,175 thousand RMB in Q3 2021[24] Assets and Liabilities - Total assets at the end of the reporting period were RMB 296,940,407 thousand, a slight decrease of 0.49% from the previous year[4] - Current assets decreased to RMB 26,767,559 thousand from RMB 30,396,728 thousand year-over-year, reflecting a decline of approximately 12%[13] - Total liabilities increased to RMB 261,604,740 as of September 30, 2022, up from RMB 232,550,079 at the end of 2021, marking a rise of 12.5%[18] - Non-current liabilities totaled RMB 171,036,657 as of September 30, 2022, compared to RMB 141,134,355 at the end of 2021, an increase of 21.2%[18] - The company's total equity decreased to RMB 35,335,667 as of September 30, 2022, down from RMB 65,865,073 at the end of 2021, a decline of 46.5%[18] Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 103,621[8] - The largest shareholder, China National Aviation Holding Company, holds 40.98% of the shares, with a total of 5,952,236,697 shares[8] - The company holds 51.70% of its shares directly and indirectly through its major shareholders, indicating a strong control over its equity structure[9] - The company is actively monitoring its shareholder structure, with significant holdings from major stakeholders such as China National Aviation Holding Company and Cathay Pacific Airways[9] Operational Challenges - The company is facing challenges due to the impact of the pandemic and rising fuel prices, affecting its financial performance[7] - The cash flow from operating activities is a critical area for future performance, with a focus on improving liquidity and managing short-term debts[12] - The company is committed to enhancing its financial health by managing its liabilities and optimizing its asset portfolio[12] Investment and Expenses - Research and development expenses rose to RMB 126,195 in the first three quarters of 2022, up from RMB 92,814 in the same period of 2021, an increase of 36%[18] - Total operating costs increased to RMB 76,941,159 in 2022 from RMB 73,584,421 in 2021, representing an increase of 4.5%[18] - The company reported a significant increase in long-term borrowings to RMB 55,862,186 as of September 30, 2022, compared to RMB 43,620,468 at the end of 2021, an increase of 28.1%[18] Other Financial Metrics - Non-operating income from government subsidies amounted to RMB 157,727 thousand for the reporting period[5] - The weighted average return on net assets was -22.21%, a decrease of 17.14 percentage points compared to the previous year[3] - Other comprehensive income after tax for the first three quarters of 2022 was RMB 1,883,524, compared to RMB 702,188 in 2021, indicating an improvement[19] - The impact of exchange rate changes on cash and cash equivalents was a positive 39,950 thousand RMB in 2022, contrasting with a negative impact of -26,438 thousand RMB in 2021[24]
中国国航(00753) - 2022 Q3 - 季度财报