CSN(SH:600029)2023-10-27 16:00Financial Performance - The operating revenue for Q3 2023 reached RMB 47,661 million, an increase of 62.42% compared to the same period last year[4]. - The net profit attributable to shareholders for Q3 2023 was RMB 4,195 million, with a significant recovery in passenger revenue[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date period was RMB 3,809 million, a decrease of 99.18% compared to the same period last year[5]. - Total operating revenue for the first three quarters of 2023 reached 119,491 million, a significant increase from 70,161 million in the same period of 2022, representing a growth of approximately 70.3%[17]. - Net profit for the third quarter of 2023 was 2,770 million, compared to a net loss of 18,135 million in the same quarter of 2022, indicating a substantial turnaround[19]. - The company reported a gross profit of 3,966 million for the third quarter, a significant improvement from a gross loss of 20,609 million in the same quarter of the previous year[19]. - Basic earnings per share for the third quarter of 2023 was 0.07 yuan, compared to a loss per share of 1.03 yuan in the same quarter of 2022[20]. Cash Flow - The cash flow from operating activities for the year-to-date period was RMB 36,979 million, reflecting a substantial increase of 406.56% year-on-year[5]. - In the first three quarters of 2023, the cash inflow from operating activities reached RMB 138,845 million, a significant increase from RMB 83,901 million in the same period of 2022, representing a growth of 65.5%[21]. - The net cash flow from operating activities for the first three quarters of 2023 was RMB 36,979 million, compared to RMB 7,300 million in the previous year, indicating a substantial improvement[23]. - The total cash outflow from operating activities in the first three quarters of 2023 was RMB 101,866 million, up from RMB 76,601 million in 2022, reflecting a rise of 33.0%[23]. - The cash inflow from investment activities was RMB 1,936 million in the first three quarters of 2023, down from RMB 5,068 million in the same period last year, showing a decline of 61.8%[23]. - The net cash flow from investment activities was negative at RMB 6,633 million for the first three quarters of 2023, compared to a negative RMB 2,671 million in 2022[23]. - The cash inflow from financing activities totaled RMB 45,217 million in the first three quarters of 2023, a decrease from RMB 79,291 million in the same period of 2022, representing a decline of 43.0%[23]. - The net cash flow from financing activities was negative at RMB 36,069 million in the first three quarters of 2023, compared to a negative RMB 11,279 million in the previous year[23]. - The cash and cash equivalents at the end of the third quarter of 2023 stood at RMB 14,191 million, slightly down from RMB 14,886 million at the end of the same period in 2022[23]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 306,201 million, a decrease of 1.86% from the end of the previous year[5]. - The total assets as of the end of the third quarter of 2023 amounted to 306,201 million, down from 312,001 million at the end of the previous quarter, reflecting a decrease of about 1.3%[16]. - Total liabilities decreased to 248,339 million from 256,887 million, a reduction of approximately 3.3%[16]. - The equity attributable to shareholders at the end of the reporting period was RMB 42,314 million, an increase of 3.06% from the end of the previous year[5]. - The total equity attributable to shareholders of the parent company was 42,314 million, up from 41,057 million, indicating a growth of about 3.1%[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 162,987[9]. - The largest shareholder, China Southern Airlines Group, held 51.90% of the shares[9]. Investments and Guarantees - The company has provided guarantees totaling USD 55.00 billion for various SPV companies, with the largest guarantee being USD 5.88 billion for South Aviation No. 9[12]. - The company reported a total of 13 SPV companies with guarantees, with amounts ranging from USD 0.10 billion to USD 5.88 billion[11]. - The company has established a total of 26 SPV companies, with guarantees provided for all of them[12]. - The long-term equity investments reached RMB 6,573 million, compared to RMB 6,205 million at the end of 2022[14]. Operational Costs and Expenses - The company’s total operating costs for the third quarter were 119,954 million, compared to 94,601 million in the same quarter of 2022, reflecting an increase of about 26.9%[18]. - Research and development expenses for the third quarter were 377 million, up from 268 million in the same quarter of 2022, indicating an increase of approximately 40.7%[18]. - The company’s cash outflow for employee compensation was RMB 21,649 million in the first three quarters of 2023, up from RMB 18,820 million in the same period last year, reflecting a rise of 9.8%[21]. Inventory and Receivables - The accounts receivable, including financing receivables, increased to RMB 4,270 million from RMB 2,656 million year-over-year[14]. - The inventory level increased to RMB 1,791 million from RMB 1,387 million year-over-year[14]. - The company’s other receivables rose to RMB 2,208 million from RMB 1,943 million year-over-year[14]. - As of September 30, 2023, the total current assets amounted to RMB 29,982 million, a decrease from RMB 32,771 million as of December 31, 2022[14].