Air China(SH:601111)2025-04-29 12:48Financial Performance - The operating revenue for Q1 2025 was CNY 40,023,324, a slight decrease of 0.11% compared to CNY 40,065,742 in the same period last year[3] - The net profit attributable to shareholders was a loss of CNY 2,043,993, representing a decline of 22.07% from a loss of CNY 1,674,456 in the previous year[3] - The basic and diluted earnings per share were both -CNY 0.12, a decrease of 9.09% compared to -CNY 0.11 in the same period last year[3] - The weighted average return on equity was -4.64%, a decrease of 0.17 percentage points from -4.47% in the previous year[3] - The company reported a significant increase in non-recurring gains from government subsidies and other income, contributing positively to the overall financial performance despite the net loss[5] - The company reported a net loss of RMB 32,788,113 for the period, compared to a loss of RMB 30,744,120 in the previous period, reflecting a worsening of approximately 6.67%[14] - The company’s total comprehensive income for Q1 2025 was -2,614,262 thousand RMB, compared to -2,063,807 thousand RMB in Q1 2024, reflecting a worsening financial position[18] - Net profit for Q1 2025 was -2,535,241 thousand RMB, compared to -2,001,897 thousand RMB in Q1 2024, indicating a decline in profitability[18] Cash Flow and Assets - The net cash flow from operating activities decreased by 11.33% to CNY 8,341,401 from CNY 9,407,344 year-on-year[3] - Cash inflows from operating activities in Q1 2025 totaled RMB 25,058,044 thousand, down 6.20% from RMB 26,718,182 thousand in Q1 2024[28] - The total current assets amounted to RMB 41,772,386, an increase from RMB 40,687,203 as of December 31, 2024, reflecting a growth of approximately 2.66%[12] - The total non-current assets decreased to RMB 303,390,932 from RMB 305,082,209, indicating a decline of about 0.56%[13] - The total cash and cash equivalents at the end of the period stood at $7,487,197, slightly up from $7,371,111[29] Liabilities and Equity - The total liabilities as of March 31, 2025, were RMB 306,832,371, compared to RMB 304,824,203 at the end of 2024, representing an increase of approximately 0.66%[14] - The total equity attributable to shareholders decreased to RMB 43,020,170 from RMB 45,147,411, a decline of about 4.69%[14] - The total liabilities to equity ratio increased, indicating a higher leverage position for the company as of March 31, 2025[14] - The total equity as of March 31, 2025, was RMB 49,144,037 thousand, down from RMB 51,300,818 thousand as of December 31, 2024, indicating a decrease of 4.19%[25] Costs and Expenditures - Total operating costs increased to 44,421,862 thousand RMB in Q1 2025 from 43,614,326 thousand RMB in Q1 2024, an increase of about 1.8%[17] - The company's operating costs in Q1 2025 were RMB 24,236,502 thousand, an increase of 1.03% from RMB 23,989,695 thousand in Q1 2024[25] - Cash paid to employees increased to $5,185,651 from $4,750,531, reflecting a rise of about 9.1%[29] - Cash paid for taxes rose to $252,138 from $132,783, indicating an increase of approximately 89.8%[29] - Cash paid for the acquisition of fixed assets surged to $3,104,043 from $1,776,276, marking an increase of approximately 74.6%[29] Shareholder Information - The top shareholder, China National Aviation Holding Company, holds 42.53% of the shares, amounting to 7,421,462,701 shares[7] Investment Activities - Investment activities resulted in a net cash outflow of -4,214,251 thousand RMB in Q1 2025, compared to -2,510,272 thousand RMB in Q1 2024, showing increased investment expenditures[21]