Business Overview - TravelSky's core business includes aviation IT services, distribution IT services, and aviation settlement and clearing services, catering to various industry participants [2]. - The group has over 20 subsidiaries in China and wholly-owned subsidiaries in regions such as Hong Kong, Singapore, and Ireland [3]. - The company is a leading supplier of information technology solutions for the aviation tourism industry in China, focusing on aviation IT services, distribution IT services, and settlement services [134]. Shareholder Information - As of December 31, 2022, the largest shareholder is China Civil Aviation Information Group, holding approximately 29.29% of the shares [3]. - As of December 31, 2022, the company's issued share capital was 2,926,209,589 shares, with domestic shares accounting for 68.13% and H shares for 31.87% [136]. - The percentage of shares held by major shareholders is calculated based on the total number of shares issued as of December 31, 2022 [142]. Financial Performance - Operating revenue for 2022 was RMB 5,210,106 thousand, a decrease of 4.9% compared to RMB 5,476,177 thousand in 2021 [41]. - Total profit for 2022 reached RMB 735,139 thousand, reflecting an increase of 10.8% from RMB 663,883 thousand in 2021 [41]. - Net profit attributable to shareholders for 2022 was RMB 626,499 thousand, up 13.6% from RMB 551,301 thousand in 2021 [41]. - Basic and diluted earnings per share for 2022 were RMB 0.21, compared to RMB 0.19 in 2021, representing a growth of 10.5% [41]. - Total assets as of December 31, 2022, amounted to RMB 25,236,452 thousand, an increase of 4.7% from RMB 24,111,139 thousand in 2021 [42]. - Total liabilities for 2022 were RMB 5,495,296 thousand, up 12.6% from RMB 4,881,056 thousand in 2021 [42]. Operational Highlights - The ETD system processing volume has ranked first globally for six consecutive years, with a processing volume of nearly 700 million passengers in 2021 [28]. - In 2022, the group processed approximately 249.3 million passenger trips through its electronic travel distribution (ETD) system, a decrease of about 42.4% compared to 2021 [50]. - The processing volume for domestic commercial airlines decreased by approximately 42.9%, while the processing volume for foreign and regional commercial airlines increased by approximately 81.5% [50]. - The group’s CRS system is directly connected to 154 foreign and regional commercial airlines, with a direct sales ratio of approximately 99.9% [50]. Technological Advancements - The "Aggregation" platform based on New Distribution Capability (NDC) received the highest NDC Level 4 certification from the International Air Transport Association [28]. - The company was recognized as a high-tech enterprise for 22 consecutive years and received multiple awards for technological advancements in 2022 [43]. - The company completed significant tasks related to passenger information systems during major events such as the Beijing Winter Olympics and the 20th National Congress of the Communist Party [26]. Employee and Corporate Governance - As of December 31, 2022, the group employed 6,570 staff members [3]. - The board of directors consists of nine members, with external directors accounting for more than half, including at least three independent non-executive directors [94]. - The company has established a transparent complaint and reporting management process to prevent bribery and corruption [93]. Risk Management and Compliance - The company has established a comprehensive risk management and internal control system to ensure the effectiveness of its strategic goals [116]. - The board believes that the internal control system is effective and sufficient, with no significant deficiencies identified during the evaluation period [117]. - The company conducts at least one internal control effectiveness check and risk assessment annually, addressing any identified deficiencies and significant risks [120]. Market and Future Outlook - The international passenger market is recovering rapidly, with the adjustment of pandemic control policies leading to an increase in international flights [48]. - Future outlook includes potential market expansion and new product development initiatives to drive growth in the upcoming fiscal periods [200]. Dividend and Shareholder Returns - The proposed final cash dividend for the year 2022 is RMB 155.1 million, which equates to RMB 0.053 per share, based on a total of 2,926,209,589 shares issued [74]. - The company has a consistent dividend policy, proposing a final cash dividend of RMB 0.053 per share for the year 2022, which represents approximately 30-40% of the company's after-tax profit [156]. Supplier and Customer Relations - The largest supplier for the company in 2022 was China Civil Aviation Information Group, accounting for 1.5% of the total operating costs (excluding depreciation and amortization) for the year [164]. - The largest customer, China Southern Airlines, contributed 8.4% to the company's revenue from goods sold or services provided in 2022 [165].
中国民航信息网络(00696) - 2022 - 年度财报