SA(SH:601021)2015-10-30 16:00Financial Performance - Total assets increased by 35% to CNY 15.19 billion compared to the end of the previous year[6] - Net assets attributable to shareholders increased by 81% to CNY 6.41 billion year-over-year[6] - Operating cash flow for the first nine months rose by 124% to CNY 1.48 billion compared to the same period last year[6] - Revenue for the first nine months increased by 13% to CNY 6.32 billion year-over-year[6] - Net profit attributable to shareholders increased by 83% to CNY 1.20 billion compared to the same period last year[6] - Basic and diluted earnings per share rose by 41% to CNY 3.09[7] - The company reported a significant increase in other operating income, which rose by 52% to RMB 589,089,939, mainly due to increased route subsidy income[15] - The company’s total profit for the first nine months of 2015 was CNY 1,611,966,517, an increase of 77.9% from CNY 905,640,941 in the same period last year[42] - The net profit for Q3 2015 was CNY 561,764,306, representing an increase of 43.7% compared to CNY 391,007,142 in Q3 2014[42] Shareholder Information - The total number of shareholders reached 8,422 by the end of the reporting period[10] - The top shareholder, Shanghai Spring International Travel Agency, holds 63% of the shares[11] Government Subsidies - Non-operating income included government subsidies totaling CNY 568.76 million, contributing to financial performance[8] - The company continues to benefit from government subsidies related to specific flight routes, enhancing market competitiveness[8] Cash and Receivables - Cash and cash equivalents increased by 50% to RMB 3,590,940,431 compared to RMB 2,399,941,795 in the same period last year, primarily due to net cash inflows from financing and operating activities[14] - Accounts receivable rose by 54% to RMB 112,804,945, driven by increased sales leading to higher receivables[14] - Other receivables surged by 179% to RMB 537,157,061, mainly due to an increase in receivables from route subsidies[14] Assets and Liabilities - Fixed assets grew by 33% to RMB 5,809,248,918, attributed to the addition of new aircraft and other equipment[14] - Long-term borrowings increased by 35% to RMB 3,140,585,237, reflecting new long-term financing arrangements[14] - Total liabilities increased to CNY 8.78 billion from CNY 7.71 billion, reflecting a growth of 13.8%[34] - The total current liabilities amounted to CNY 4.50 billion, slightly up from CNY 4.22 billion, indicating a 6.7% increase[33] Stock and Share Repurchase Plans - The company plans to issue up to 38,395,904 A-shares at a minimum price of RMB 117.20 per share, subject to adjustments based on corporate actions[15] - The company has implemented a stock price stabilization plan to protect the interests of minority investors, which includes measures for share buybacks if the stock price falls below the latest audited net asset value per share[19] - The stabilization plan is effective for three years from the date of listing and includes obligations for major shareholders and management to notify the company of any plans to increase their holdings[19] - The company must disclose specific repurchase plans within 20 trading days after triggering repurchase obligations, including the number of shares, price range, and completion time[21] - The company’s repurchase amount should not exceed 10 million yuan per single repurchase and 50 million yuan per year for stabilizing stock prices[21] Future Commitments and Regulations - The company plans to distribute cash dividends of no less than 10%, 13%, and 15% of the distributable profits for the first three years post-IPO, with a minimum of 20% in subsequent years due to significant capital expenditures[28] - The company has committed to ensuring that any share reduction by major shareholders will not exceed 20% of their holdings annually, and will notify the company three trading days in advance[27] - The company has pledged to compensate for any losses incurred by the airline due to unresolved employee equity issues, ensuring no costs will be borne by the airline[27] - The company will strictly adhere to fair pricing principles in any unavoidable related transactions with other enterprises it controls, ensuring compliance with regulatory disclosure obligations[27] - The company has stated that it will not engage in any competitive business activities that may conflict with the operations of Spring Airlines[27] Financial Challenges - The company experienced an 89% rise in financial expenses to RMB 157,520,414, primarily due to increased exchange losses[15] - The company’s investment losses increased by 48% to RMB -90,773,789, attributed to a higher proportion of investments in associates[15] - The company’s financial expenses for Q3 2015 were CNY 89,207,493, a significant increase from CNY 19,273,652 in Q3 2014, indicating a rise of 363.5%[42]