2022-08-30 16:00Fleet and Operations - The company operates a modern fleet of 755 passenger aircraft, with an average age of approximately 8.1 years[23]. - The company introduced 1 new aircraft and retired 3 during the first half of 2022[52]. - The average fleet age was reported at 8.1 years, reflecting the company's commitment to optimizing its fleet structure[42]. - The company exited 3 old aircraft and introduced 1 A350-900 aircraft, maintaining a young fleet structure and improving overall fuel efficiency[140]. Financial Performance - The company's operating revenue for the first half of 2022 was RMB 19,354 million, a decrease of 44.24% compared to RMB 34,710 million in the same period last year[30]. - The net profit attributable to shareholders of the listed company was -RMB 18,736 million, compared to -RMB 5,208 million in the same period last year[30]. - The net cash flow from operating activities was -RMB 1,575 million, a decline of 119.05% from RMB 8,269 million in the previous year[30]. - The total assets at the end of the reporting period were RMB 289,997 million, an increase of 1.20% from RMB 286,548 million at the end of the previous year[30]. - The weighted average return on net assets was -44.56%, a decrease of 34.29 percentage points from -10.27% in the same period last year[31]. - The company's total profit for the first half of 2022 was RMB -19.995 billion, an increase in loss of RMB 12.715 billion compared to the same period last year[85]. - The company's total equity decreased to RMB 35,005 million as of June 30, 2022, down from RMB 54,910 million at the end of 2021, reflecting a decline of 36.4%[196]. Passenger and Cargo Traffic - The passenger transport volume in China for the first half of 2022 was 118 million, which is 36.7% of the level in the same period of 2019[38]. - The total turnover of civil aviation transportation in China was 29.34 billion ton-kilometers, which is 46.7% of the level in the same period of 2019[38]. - The company reported a significant decline in passenger traffic, with available seat kilometers (ASK) dropping by 48.17% to 44,535.60 million compared to the same period last year[46]. - The passenger revenue passenger kilometers (RPK) decreased by 55.62% to 27,005.95 million, with domestic routes seeing a decline of 56.17%[47]. - The total number of passengers carried fell by 57.89% to 18,675.62 thousand, with domestic routes down by 58.06%[47]. - Cargo traffic also experienced a decline, with available freight ton kilometers (AFTK) down by 36.28% to 3,274.26 million[48]. - The cargo revenue ton kilometers (RFTK) decreased by 29.83% to 1,268.02 million, with domestic routes down by 39.93%[49]. Revenue and Costs - The passenger transport revenue for the first half of 2022 was RMB 13,899 million, a decrease of 51.17%, accounting for 76.07% of the airline's revenue[78]. - The total operating costs decreased by 14.36% to RMB 33,959 million, with significant reductions in airport takeoff and landing fees by 46.36%[80]. - The company's aircraft fuel costs were RMB 8.960 billion, down 8.32% year-on-year, primarily due to a 44.91% decrease in fuel consumption[81]. - The company's sales expenses were RMB 1.022 billion, a year-on-year decrease of 39.06%[82]. - The company's financial expenses were RMB 4.266 billion, a year-on-year increase of 132.61% due to exchange losses[82]. Risk Management and Compliance - The company emphasizes the importance of risk awareness in its forward-looking statements regarding economic conditions and future plans[15]. - The company faces risks from economic conditions, geopolitical issues, and pandemic impacts, which significantly affect air transport demand and operational performance[112]. - The company is actively monitoring macroeconomic trends and adjusting capacity and market strategies to mitigate external risks[113]. - The company has not identified any violations of decision-making procedures for external guarantees[15]. - The company is enhancing its information network security projects to protect customer data and company information, including appointing a "Data Protection Officer" to comply with EU GDPR regulations[123]. Environmental and Social Responsibility - The company is committed to green and low-carbon development, implementing measures to reduce plastic usage since January 2022[65]. - The company has implemented a plastic reduction mechanism, ceasing the provision of non-degradable plastic items on domestic and EU flights since January 2022[140]. - The company actively participates in carbon trading mechanisms, including national and local pilot carbon trading, and has submitted carbon emission reports as required[138]. - The company has established a green low-carbon development task force to promote energy conservation and ecological protection initiatives[138]. - In the first half of 2022, the company invested a total of CNY 29.33 million in non-repayable aid and CNY 36.93 million in repayable aid for poverty alleviation efforts[141]. Shareholder and Corporate Governance - The company is listed on three stock exchanges: New York, Hong Kong, and Shanghai, making it the first Chinese airline to be listed in multiple locations[23]. - The company plans to issue up to 5,662,332,023 A-shares, raising a total of no more than RMB 15 billion, with China Eastern Airlines Group committing to subscribe at least RMB 5 billion[162]. - The company’s non-public issuance of shares is subject to a 36-month lock-up period for several major shareholders, including China Eastern Airlines Group and Shanghai Jidong Aviation Management Co., Ltd.[170]. - The company has not reported any changes in its share capital structure during the reporting period[163]. - The company’s stock price is influenced by various factors, and it is committed to improving corporate governance and maintaining effective communication with investors to avoid abnormal stock price fluctuations[126].