2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 25,067,711, representing a 94.06% increase compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was a loss of CNY 2,926,407, with a significant reduction in losses due to increased capacity and higher passenger load factors[4][7]. - The company's operating profit for Q1 2023 was -3,294,946 thousand RMB, an improvement from -10,450,476 thousand RMB in Q1 2022, indicating a reduction in losses[20]. - Net profit for Q1 2023 was -3,273,648 thousand RMB, compared to -9,871,659 thousand RMB in the same period last year, showing a significant decrease in net losses[20]. - The company recorded a total comprehensive loss of -3,635,719 thousand RMB in Q1 2023, compared to -10,009,745 thousand RMB in Q1 2022, indicating a reduction in overall losses[21]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 6,796,158, indicating strong cash generation despite the net loss[4]. - The company reported a net cash flow from operating activities of 6,796,158 thousand RMB in Q1 2023, a turnaround from -7,658,829 thousand RMB in Q1 2022[23]. - Cash and cash equivalents as of March 31, 2023, were RMB 32,638,728 thousand, compared to RMB 11,435,877 thousand at the end of 2022, showing an increase of approximately 184.5%[15]. - The net cash flow from financing activities was 11,245,378, an increase from 4,843,655 in the previous year[24]. - The total cash and cash equivalents at the end of the period reached 32,052,201, compared to 11,211,826 in the same period last year[24]. - The net increase in cash and cash equivalents was 21,444,490, contrasting with a decrease of 4,722,887 in the same quarter last year[24]. Assets and Liabilities - Total assets at the end of Q1 2023 reached CNY 345,152,642, a 17.00% increase from the end of the previous year[5]. - The company's total liabilities as of March 31, 2023, were RMB 315,810,676 thousand, compared to RMB 273,451,149 thousand at the end of 2022, representing an increase of about 15.5%[17]. - The company's long-term borrowings increased to RMB 76,414,970 thousand as of March 31, 2023, from RMB 66,868,774 thousand at the end of 2022, marking an increase of approximately 13.5%[17]. - The goodwill reported as of March 31, 2023, was RMB 1,102,185 thousand, unchanged from the previous period[16]. Shareholder Information - Shareholders' equity attributable to the listed company was CNY 35,325,730, reflecting a 49.63% increase year-over-year, partly due to a non-public issuance of A-shares[5][8]. - The total number of ordinary shareholders at the end of the reporting period was 126,705[9]. - The largest shareholder, China National Aviation Holding Company, held 40.53% of the shares, while Cathay Pacific Airways Limited held 16.26%[9]. Future Outlook and Strategic Initiatives - The company plans to continue expanding its capacity and improving load factors to enhance revenue generation in the future[7]. - The company completed a non-public issuance of A-shares at a price of RMB 8.95 per share, raising a total of RMB 14,999,999,994.35[12]. - The company acquired control of Shandong Airlines Group as of March 21, 2023, which will be included in the consolidated financial statements[12]. Operating Costs and Expenses - The total operating costs for Q1 2023 were RMB 29,749,323 thousand, compared to RMB 23,144,688 thousand in Q1 2022, indicating an increase of about 28.6%[18]. - Research and development expenses increased to 69,676 thousand RMB in Q1 2023, compared to 38,099 thousand RMB in Q1 2022, representing an increase of approximately 83%[20]. - The company’s financial expenses for Q1 2023 were 1,059,233 thousand RMB, down from 1,251,104 thousand RMB in Q1 2022, showing a decrease of approximately 15%[20]. Other Financial Metrics - The weighted average return on net assets was -8.03%, an increase of 7.61 percentage points compared to the previous year[4]. - The basic earnings per share for Q1 2023 was -0.19 RMB, an improvement from -0.65 RMB in Q1 2022[22]. - The company reported non-recurring gains and losses totaling CNY 91,497, with government subsidies contributing CNY 84,517[6]. - The cash inflow from investment activities in Q1 2023 was 5,792,825 thousand RMB, significantly higher than 362,721 thousand RMB in Q1 2022[23]. - The cash outflow from financing activities was 17,562,291, compared to 15,936,311 in the previous year[24]. - The impact of exchange rate changes on cash and cash equivalents was a negative 25,125, compared to a negative 7,693 in the previous year[24]. - The company did not apply new accounting standards or interpretations for the first time in 2023[24].