2021-08-30 16:00Fleet and Operations - As of June 30, 2021, the company operates a modern fleet of 749 passenger aircraft, with an average aircraft age of approximately 7.4 years, making it one of the youngest fleets globally[14] - The company operated a fleet of 749 aircraft with an average age of approximately 7.4 years, focusing on core hubs in Shanghai and Beijing[29] - The average fleet age was reported at 7.4 years, positioning the company among the most efficient fleets globally[34] - The company introduced 17 new aircraft and retired 2, maintaining a young fleet structure with models like A350-900 and B787-9[43] - The company executed 48,450 unconventional passenger flights in the first half of 2021, enhancing cargo capacity through passenger aircraft[51] Financial Performance - The company's operating revenue for the first half of 2021 was RMB 34,710 million, an increase of 38.13% compared to RMB 25,129 million in the same period last year[23] - The net profit attributable to shareholders of the listed company was -RMB 5,208 million, an improvement from -RMB 8,542 million in the previous year[23] - The net cash flow from operating activities was RMB 8,269 million, a significant recovery from -RMB 6,720 million in the same period last year[23] - The total assets at the end of the reporting period were RMB 290,924 million, reflecting a 3.02% increase from RMB 282,408 million at the end of the previous year[23] - The company's operating costs increased by 22.06% to RMB 39,652 million from RMB 32,485 million year-on-year[68] - The company's financial expenses decreased by 46.37% year-on-year to RMB 1.83 billion, mainly due to foreign exchange gains of RMB 0.83 billion[78] - The company's cash and cash equivalents amounted to RMB 15.56 billion, a 103.05% increase year-on-year, indicating a stronger liquidity position[85] Market and Demand - Domestic air travel demand showed signs of recovery from March to May 2021, but was affected by subsequent outbreaks in various regions[30] - The global airline industry is projected to incur a net loss of USD 47.7 billion in 2021 due to the ongoing impact of the pandemic[30] - The overall passenger transport volume reached 44.31 million, a 71.9% increase year-on-year, while operating revenue grew by 38.1% to RMB 34.71 billion[48] - Domestic routes saw a remarkable growth in ASK, reaching 83,458.83 million, a 77.83% increase from 46,931.26 million[38] Risk Management - The company has acknowledged the presence of major risk factors in its operations, which are detailed in the management discussion and analysis section[7] - The company emphasizes the importance of investment risk awareness for investors regarding forward-looking statements in its reports[6] - The company faces risks from the ongoing pandemic and economic environment, which could adversely affect its operational performance and financial condition[110] - The company is actively participating in the formulation of industry policies and regulations to mitigate risks and seize development opportunities[112] Environmental Responsibility - The company is committed to green and low-carbon development, participating in global climate governance initiatives[65] - The company has implemented a pollution prevention strategy, including the promotion of biodegradable materials for in-flight catering[139] - The company established a special team for green and low-carbon development, focusing on energy conservation and ecological protection[138] - In the first half of 2021, the company disposed of approximately 70 tons of hazardous waste, adhering to local environmental regulations[132] Corporate Governance - The company has not identified any instances where more than half of the board members could not guarantee the authenticity, accuracy, and completeness of the semi-annual report[6] - The company is committed to improving corporate governance and fulfilling information disclosure obligations to enhance management capabilities[126] - The company has a cash dividend policy that mandates a distribution of at least 30% of the average annual distributable profits over the last three years[131] Strategic Partnerships and Expansion - The company has established a strong strategic partnership with Delta and Air France-KLM, enhancing its international network[36] - The company is actively expanding its route network, now covering 170 countries and 1,036 destinations globally[33] - The company is focusing on optimizing its route network and improving service quality to address competitive pressures in the aviation market[116] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 184,557[161] - The largest shareholder, China Eastern Airlines Group, holds 30.97% of the shares, totaling 5,072,922,927 shares[162] - The company has not experienced any changes in its total share capital or share structure during the reporting period[161] Future Plans - The company is advancing its "14th Five-Year Plan" to optimize its industrial layout and develop a five-year plan for key domestic flight routes[53] - The company plans to adjust its capacity and pricing strategies flexibly in response to the evolving domestic and international pandemic situation[61] - The company plans to introduce 9 aircraft and retire 21 aircraft in 2024, with adjustments based on external market conditions[67]