2021-04-29 16:00Financial Performance - Operating revenue for the first quarter was RMB 13,395 million, a decrease of 13.32% year-on-year[4] - Net profit attributable to shareholders was RMB -38,050 million, a reduction in loss of RMB 1,280 million compared to the same period last year[13] - The total operating revenue for Q1 2021 was RMB 13,395 million, a decrease of 13.4% compared to RMB 15,454 million in Q1 2020[21] - The net profit attributable to shareholders of the parent company for Q1 2021 was RMB (3,805) million, compared to RMB (3,933) million in Q1 2020, showing a slight improvement[21] - The operating loss for Q1 2021 was RMB (5,625) million, slightly better than the loss of RMB (5,688) million in Q1 2020[21] - The total comprehensive income for Q1 2021 was RMB (4,537) million, compared to RMB (4,480) million in Q1 2020[22] - The company reported a basic earnings per share of RMB (0.23) for Q1 2021, compared to RMB (0.24) in Q1 2020[22] Assets and Liabilities - Total assets reached RMB 292,115 million, an increase of 3.44% compared to the end of the previous year[4] - The total liabilities and shareholders' equity as of March 31, 2021, amounted to RMB 292,115 million, an increase from RMB 282,408 million as of December 31, 2020[20] - Cash and cash equivalents at the end of the period amounted to RMB 15,693 million, indicating stable cash flow[13] - Cash and cash equivalents increased by 104.95% due to the company's assessment of future operating conditions and reserving funds for subsequent payments[14] - Accounts receivable rose by 53.91%, primarily due to an increase in unsettled airline ticket payments at the end of the reporting period[14] - Long-term borrowings increased by 132.82% as the company adjusted its financing structure in response to market conditions[14] - The company issued RMB 90 billion in corporate bonds during the reporting period, leading to a 50.86% increase in bonds payable[14] Cash Flow - The net cash flow from operating activities improved significantly due to an increase in ticket sales compared to the same period last year[14] - The cash flow from operating activities for Q1 2021 was RMB 313 million, compared to a cash outflow of RMB (6,126) million in Q1 2020, indicating a significant improvement[23] - The company reported a net increase in cash and cash equivalents of RMB 8,042 million in Q1 2021, compared to an increase of RMB 5,669 million in Q1 2020[24] - The company paid RMB 40,146 million in debt repayments during Q1 2021, significantly higher than RMB 8,328 million in Q1 2020[24] - The cash inflow from financing activities for the company was RMB 54,515 million in Q1 2021, reflecting a strong reliance on external financing[24] Cost Control and Market Conditions - The company implemented strict cost control measures to mitigate the adverse effects of the COVID-19 pandemic[12] - The company faced challenges due to sporadic COVID-19 cases affecting domestic travel demand[12] - The company expects continued adverse impacts on operating performance due to the pandemic, with potential losses anticipated for the first half of 2021[15] - The company continues to monitor market demand closely and adjust operational strategies accordingly[13] Financial Expenses and Investments - Financial expenses decreased by 42.61% due to exchange gains compared to losses in the same period last year[14] - Research and development expenses for Q1 2021 were RMB 44 million, up from RMB 40 million in Q1 2020[21] - The total cash outflow from investing activities for Q1 2021 was RMB (2,654) million, compared to RMB (1,403) million in Q1 2020[23] - The total cash outflow from financing activities was RMB 44,476 million in Q1 2021, compared to RMB 14,211 million in Q1 2020, indicating a substantial rise in financing costs[24] - Interest payments amounted to RMB 1,310 million in Q1 2021, slightly down from RMB 1,618 million in Q1 2020[24]