2021-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 14,580,678 thousand, a decrease of 15.50% year-on-year[4] - Net loss attributable to shareholders was CNY 6,207,790 thousand, representing a 29.19% increase in loss compared to the same period last year[4] - The company reported a decrease in long-term borrowings to 18,704,714 thousand RMB from 16,467,910 thousand RMB, reflecting a shift in financing strategy[22] - The net loss for Q1 2021 was 6,947,050 thousand RMB, compared to a net loss of 5,616,412 thousand RMB in Q1 2020, indicating ongoing financial challenges[25] - The net loss attributable to the parent company for Q1 2021 was CNY -6,118,415 thousand, compared to a net loss of CNY -4,387,740 thousand in Q1 2020[29] - The total comprehensive income for Q1 2021 was CNY -4,693,538 thousand, compared to CNY -2,920,594 thousand in Q1 2020[29] Assets and Liabilities - Total assets increased by 1.52% to CNY 288,384,073 thousand compared to the end of the previous year[4] - Total liabilities increased to CNY 210,944,140 from CNY 200,256,580 year-over-year[19] - Total equity decreased to CNY 77,439,933 from CNY 83,814,130 year-over-year[19] - Accounts receivable rose by 32.49% to CNY 3,898,888 thousand, primarily due to an increase in ticket receivables[10] - Inventory increased by 32.31% to CNY 2,452,987 thousand, mainly due to increased consumption of products and aviation materials[11] Cash Flow - Net cash flow from operating activities improved by 85.61% to -CNY 1,254,296 thousand compared to the same period last year[4] - Cash received from operating activities decreased by 31.59% to CNY 1,624,412 from CNY 2,374,432 year-over-year[13] - Cash paid for purchasing goods and services decreased by 33.21% to CNY 8,587,763 from CNY 12,857,493 year-over-year[13] - The company's cash flow from operating activities for Q1 2021 was -1,149,275 thousand RMB, an improvement from -6,502,927 thousand RMB in Q1 2020[33] - Total cash inflow from operating activities was 10,086,698 thousand RMB, compared to 7,921,586 thousand RMB in the same period last year, representing a 27.5% increase[33] Cost Management - Total operating costs for Q1 2021 were 23,098,558 thousand RMB, down from 23,823,243 thousand RMB in Q1 2020, reflecting a cost reduction strategy[24] - The total operating cost for Q1 2021 was CNY 13,081,239 thousand, slightly down from CNY 13,176,995 thousand in the same period last year[27] - Financial expenses decreased by 30.64% to CNY 1,615,728 from CNY 2,329,605 year-over-year[12] - Research and development expenses decreased to CNY 12,708 thousand in Q1 2021 from CNY 36,263 thousand in Q1 2020, indicating a reduction in R&D investment[27] Future Outlook - The company expects cumulative net profit to be impacted if the COVID-19 pandemic continues, but anticipates recovery in civil aviation demand as the domestic situation improves[14] - The company plans to focus on cost management and operational efficiency to navigate the current market challenges[25] - The company is exploring new product development and market expansion opportunities to enhance revenue streams in the future[25]