SA(SH:601021)2016-04-28 16:00Financial Performance - Operating revenue for the period was CNY 2,088,725,117, reflecting a growth of 3.48% year-on-year[6] - Net profit attributable to shareholders rose by 44.18% to CNY 366,683,110 compared to the same period last year[6] - Basic earnings per share increased by 39.39% to CNY 0.46 per share[6] - Operating income increased significantly by 151.55%, from CNY 67,867,286 to CNY 170,717,787[15] - The company’s income tax expense increased by 31.61%, from CNY 96,327,103 to CNY 126,773,921 due to higher total profit[15] - Total operating revenue for the current period reached ¥2,088,725,117, an increase of 3.5% compared to ¥2,018,444,630 in the previous period[35] - Operating profit increased to ¥322,908,027, up from ¥282,899,887, reflecting a growth of 14.2%[35] - Net profit for the current period was ¥366,683,110, representing a significant increase of 44.2% from ¥254,323,492 in the previous period[35] - Basic and diluted earnings per share improved to ¥0.46, compared to ¥0.33 in the previous period, marking a 39.4% increase[35] Asset and Liability Changes - Total assets increased by 2.85% to CNY 16,485,708,867 compared to the end of the previous year[6] - The company reported a total equity of CNY 6,906,462,154 as of March 31, 2016, up from CNY 6,539,779,044 at the beginning of the year, indicating an increase of about 5.6%[29] - Total current liabilities increased to CNY 5,440,432,515 from CNY 4,978,749,057, marking an increase of approximately 9.25%[29] - The total liabilities of Spring Airlines stood at CNY 9,579,246,713, slightly up from CNY 9,489,209,760, indicating a marginal increase of about 0.95%[29] - The company’s retained earnings increased to CNY 4,292,602,099 from CNY 3,925,918,989, reflecting a growth of approximately 9.4%[29] - The company’s long-term equity investments decreased by 21.82%, from CNY 95,344,515 to CNY 74,543,607[15] - Cash and cash equivalents at the end of the period totaled ¥3,005,492,534, a decrease from ¥2,788,226,738 in the previous period[39] Shareholder Information - The total number of shareholders reached 18,051 by the end of the reporting period[10] - The largest shareholder, Shanghai Spring International Travel Agency, held 63.0% of the shares, totaling 504,000,000 shares[10] - Shareholders holding more than 5% of shares have committed to not transferring or entrusting their shares for 36 months from the date of listing[21] - The controlling shareholder is obligated to notify the company of any specific stock purchase plan within 10 trading days after triggering the purchase obligation[22] - The maximum annual reduction in shareholding by Spring Travel is capped at 20% of its holdings in Spring Airlines, and must not exceed 5% of the total share capital[25] Government Subsidies and Financial Strategies - The company received government subsidies totaling CNY 151,616,079, which included CNY 140,620,972 for route subsidies[7] - The company plans to issue up to 76,791,808 shares at a minimum price of CNY 58.60 per share to raise funds[18] - The company intends to issue bonds with a total scale of up to CNY 2.3 billion for working capital and debt repayment[19] - The bond issuance approval is valid for 24 months from the approval date, with subsequent tranches to be issued within this timeframe[20] Stock Price Stabilization Measures - The company will implement measures to stabilize its stock price, including potential buybacks if the stock price falls below the latest audited net asset value per share for 20 consecutive trading days[21] - The company aims to maintain stock price stability through various measures outlined in its stabilization plan[21] - The company will notify and announce any share reductions by major shareholders three trading days in advance[21] - The company will adjust the issuance price in accordance with any dividend distributions or capital increases during the lock-up period[20] Operational Challenges and Future Plans - Cash flow from operating activities decreased by 48.97% to CNY 73,357,843 compared to the previous year[6] - The company plans to leverage its low ticket price advantage to attract more passengers and expand its market share[8] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[35] - The company will fully bear the responsibility for any legal issues related to property leasing that may adversely affect its operations[26]