2022-08-30 16:00Financial Performance - Air China reported a significant increase in passenger traffic, with a year-on-year growth of 120% in revenue passenger kilometers (RPK) for the first half of 2022[5]. - The airline's total revenue for the first half of 2022 reached 50 billion RMB, marking a 90% increase year-on-year[5]. - The company's operating revenue for the reporting period was CNY 23,952,653, a decrease of 36.40% compared to the same period last year[12]. - The net loss attributable to shareholders was CNY (19,434,906), compared to a net loss of CNY (6,785,816) in the previous year[12]. - The net cash flow from operating activities was CNY (6,650,156), representing a decline of 190.70% year-on-year[12]. - The company reported a total operating revenue of RMB 23.95 billion for the first half of 2022, a decrease of 36.40% year-on-year[35]. - Passenger revenue for the first half of 2022 was RMB 15.10 billion, down RMB 15.79 billion compared to the previous year, primarily due to a decrease in capacity input[37]. - The net loss for the six months ended June 30, 2022, was RMB 22,212,205 thousand, compared to a net loss of RMB 7,675,052 thousand for the same period in 2021, reflecting a worsening financial performance[132]. Operational Efficiency - The company achieved a load factor of 75%, reflecting a 15% increase compared to the same period last year[7]. - The group maintained a strong focus on cost control and risk management, optimizing operational efficiency[26]. - The group reported a 46.32% decrease in available seat kilometers (ASK) from 82,499.92 million in 2021 to 44,282.01 million in 2022[32]. - The group reported a 24.1% year-on-year increase in passenger cargo flights, executing 9,851 flights[26]. - The average fleet age is 8.39 years, with a total of 748 aircraft in operation[29]. Strategic Initiatives - Air China plans to expand its fleet by adding 20 new aircraft by the end of 2023, enhancing its operational capacity[3]. - The company aims to enhance its global network layout and improve passenger experience as part of its strategic transformation[18]. - Air China is exploring strategic partnerships and potential acquisitions to strengthen its market position in Asia-Pacific[3]. - The company has set a target to achieve a net profit margin of 10% by 2025 through cost control and operational improvements[4]. Digital Transformation - Air China is focusing on digital transformation, investing 1 billion RMB in new technology and systems to improve customer experience and operational efficiency[4]. - The group enhanced customer service by expanding online contactless services, achieving full coverage of "paperless" travel services at all domestic airports[27]. Environmental Responsibility - The company is committed to environmental responsibility, with all pollution control facilities operating normally and meeting emission standards[79]. - The company reported a total nitrogen oxide emission of 0.541 tons, which is below the annual permitted emission of 3.88193 tons[78]. - The group saved 3,200 tons of aviation fuel and reduced CO2 emissions by 10,080 tons during the reporting period through various operational efficiencies[84]. - The company has implemented a salary policy focused on performance and productivity, aiming to enhance corporate vitality and efficiency[77]. Financial Position - The total assets at the end of the reporting period were CNY 299,331,696, a slight increase of 0.31% compared to the end of the previous year[13]. - The net assets attributable to shareholders decreased by 30.09% to CNY 42,924,950 compared to the end of the previous year[13]. - The total liabilities as of June 30, 2022, were CNY 254.70 billion, an increase of 9.52% from the end of the previous year[54]. - The group's debt-to-asset ratio was 85.09%, an increase of 7.16 percentage points from the end of the previous year[56]. Employee and Corporate Governance - As of the end of the reporting period, the company had a total of 46,197 employees, while its subsidiaries had 40,427 employees[76]. - The company’s board of directors underwent significant changes, with new independent directors elected and several resignations noted[75]. - The company has maintained a standard audit report with no non-standard opinions from auditors[88]. Community Engagement - The group continued to support poverty alleviation and rural revitalization efforts, maintaining financial assistance to key support counties[86]. - The company invested CNY 2,500 million in targeted assistance projects in Guangxi Zhaoping, planning 24 projects covering rural development, construction, and governance[87]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 106,297, including 3,013 H-share registered shareholders[106]. - The largest shareholder, AVIC Group, holds 5,952,236,697 shares, representing 40.98% of the total shares, with 127,445,536 shares frozen[108]. - The company has not reported any changes in its total share capital or share structure during the reporting period[105].