Operational Performance - In 2022, the company focused on ensuring safety and stability in operations, completing a three-year safety rectification action plan[11]. - The company adjusted capacity based on market demand, optimizing the structure of domestic and international capacity投入[11]. - The company maintained a stable market share in its main base and enhanced revenue management through refined marketing strategies[11]. - The company emphasized strict cost control, adjusting aircraft retirement schedules to improve operational efficiency[11]. - The company successfully completed important support tasks for the Beijing Winter Olympics and the 20th National Congress of the Communist Party of China[11]. - Passenger traffic decreased by 44.09% year-on-year, with 38,605.77 thousand passengers carried in 2022[18]. - Available seat kilometers (ASK) dropped by 36.89% to 96,212.39 million in 2022[18]. - The total number of flights decreased to 363,886, down 36.41% from 572,264 in the previous period[19]. - Revenue ton kilometers dropped to 8,739.54 million, a decrease of 35.73% from 13,598.95 million[19]. - Passenger load factor decreased to 62.73%, down 5.90 percentage points from 68.63%[19]. - Cargo and mail load factor increased to 40.86%, up 0.87 percentage points from 39.99%[19]. - Average aircraft utilization dropped to 3.95 hours per day, down 2.32 hours from 6.28 hours[19]. Financial Performance - Operating revenue for 2022 was RMB 52,897,584, a significant decrease from RMB 74,531,670 in 2021[14]. - The company reported a net loss attributable to shareholders of RMB 38,617,495 in 2022, compared to a loss of RMB 16,635,178 in 2021[14]. - The EBITDA for 2022 was a loss of RMB 14,210,120, compared to a profit of RMB 4,072,326 in 2021[14]. - The total operating revenue for the company was RMB 125.41 billion, a year-on-year decrease of 32.21%[39]. - The total assets of the company amounted to RMB 643.10 billion, with a net loss attributable to shareholders of RMB 111.27 billion[39]. - The average passenger load factor was 64.66%, a decrease of 4.52 percentage points year-on-year[40]. - The company reported a negative distributable profit for the year 2022, leading to a decision not to distribute dividends[132]. - The total operating expenses for 2022 were RMB 91,716,156 thousand, a decrease from RMB 95,464,608 thousand in 2021, indicating a reduction of 3.9%[198]. Strategic Initiatives - The company aims to enhance its service offerings and stabilize flight revenues by enriching its product mix[11]. - The company is focused on enhancing service levels and digital transformation to improve customer experience and operational efficiency[14]. - The company aims to accelerate the construction of a world-class aviation transport group as part of its strategic goals for 2023[13]. - The company is committed to deepening reform and strengthening party building within its operations[11]. - The company aims to strengthen its international market presence through the "Air Silk Road" initiative and the Belt and Road economic corridors[33]. - The company plans to focus on safety production, production recovery, and innovation development in 2023[42]. - The company is focusing on high-quality development and digital transformation, with a dedicated team for digital integration and data management[29]. Governance and Management - The board of directors has been restructured to enhance governance and risk management capabilities[14]. - The board of directors is responsible for reviewing and monitoring the company's governance policies and compliance with legal regulations[87]. - The company completed the election of the new board and supervisory committee on February 25, 2022, following a delay due to the nomination process[90]. - The company has established a liability management regulation to enhance financial stability and risk control[99]. - The audit committee has confirmed the independence of its four independent non-executive directors, ensuring compliance with governance standards[97]. - The company has implemented a robust internal control environment and effective electronic information systems to support business operations[109]. - The company has established a clear organizational structure for risk management, ensuring effective monitoring and response to significant risks[110]. Customer Engagement and Services - The company has a long-standing frequent flyer program, integrating multiple brand members into the "Phoenix Miles" brand[3]. - The company has over 75.11 million Phoenix Miles members, contributing 51.9% of passenger revenue[34]. - The company issued 705 special ticket handling plans and sent travel alerts to 542,000 ticket holders, enhancing customer service efficiency[27]. - The company launched the "Health Travel" service, covering 28 overseas stations, and implemented online health information verification for passengers[27]. - The company has established a new air dining concept, "Cloud Feast China," and set up an in-flight food research institute[28]. Sustainability and Compliance - The company has achieved ISO 14001 certification, becoming the first airline in mainland China to fully pass the environmental management system certification[153]. - The company is focused on sustainable development and has strengthened its energy management and pollution prevention measures[153]. - The company has implemented a green travel service on its app, allowing passengers to participate in carbon offset projects[153]. - The company has established a comprehensive compliance program to adhere to relevant laws and regulations affecting its main business operations[154]. Market Position and Competition - The company is listed on the Hong Kong, London, and Shanghai stock exchanges, enhancing its visibility and investment appeal[10]. - The company continues to face strong competition in the industry, emphasizing the development of a world-class hub at Beijing Capital Airport and Chengdu Tianfu Airport[71]. - The expansion of China's high-speed rail network poses a long-term risk of passenger diversion from air travel, particularly for short to medium-haul routes[72]. - The company anticipates that business travel and tourism will drive future growth in the aviation transport market[44]. Employee and Training Development - The total number of employees in the group as of December 31, 2022, was 87,190, with 60.18% being male and 39.82% female[142]. - The company conducted a total of 85.8 million hours of online training and 129,547 hours of flight simulator training during the reporting period[145]. - The company aims to enhance training effectiveness and relevance through continuous optimization of teaching content and methods[145]. - The company has a commitment to non-discrimination in employment practices, promoting diversity among its workforce[142].
中国国航(00753) - 2022 - 年度财报