Eastern Air Logistics (SH:601156)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 4,855,896,916.37, a decrease of 19.88% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2023 was CNY 393,619,467.76, down 52.00% year-on-year[4]. - The basic earnings per share for Q3 2023 was CNY 0.25, reflecting a decline of 51.92% compared to the previous year[5]. - Total operating revenue for the first three quarters of 2023 was ¥14,231,478,935.47, a decrease of 19.1% compared to ¥17,667,313,740.43 in the same period of 2022[21]. - Net profit for Q3 2023 was ¥1,904,349,903.09, a decline of 45.0% from ¥3,457,419,140.80 in Q3 2022[22]. - The company reported a total comprehensive income of ¥1,898,404,024.56 for Q3 2023, down 45.5% from ¥3,455,626,278.88 in Q3 2022[23]. Assets and Liabilities - The total assets as of the end of Q3 2023 amounted to CNY 28,432,631,307.17, an increase of 9.07% from the end of the previous year[5]. - The total assets of the company as of September 30, 2023, were approximately ¥28.43 billion, an increase from ¥26.07 billion at the end of 2022, indicating a growth of about 9.08%[18]. - Total liabilities as of Q3 2023 amounted to ¥12,404,614,866.54, an increase of 8.9% from ¥11,382,803,992.63 in the previous year[20]. - The company’s non-current liabilities totaled ¥6,764,805,638.82, an increase of 20.8% from ¥5,599,796,611.97 in the previous year[20]. Cash Flow - The company reported a net cash flow from operating activities of CNY 3,264,287,197.02 for the year-to-date, down 33.35% year-on-year[4]. - Total cash inflow from operating activities for the first three quarters of 2023 was CNY 15,364,969,317.74, a decrease of 18.8% compared to CNY 18,813,269,649.16 in the same period of 2022[24]. - Net cash flow from operating activities for the first three quarters of 2023 was CNY 3,264,287,197.02, down 33.3% from CNY 4,897,867,868.72 in the previous year[25]. - The ending balance of cash and cash equivalents as of the end of the third quarter of 2023 was CNY 8,151,177,380.33, down from CNY 9,152,980,352.60 at the end of the same period in 2022[25]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 68,282[12]. - The largest shareholder, Eastern Airlines Industry Investment Co., Ltd., holds 642,960,000 shares, accounting for 40.50% of total shares[12]. Operational Insights - The revenue from air express services was CNY 645,329,900, accounting for 45.37% of total revenue, a decrease of 37.53% year-on-year[6]. - The company experienced a significant decline in net profit due to weakened demand and falling freight rates, with a year-to-date net profit decrease of 43.43%[10]. - Government subsidies recognized in Q3 2023 amounted to CNY 148,454.85, primarily consisting of enterprise support funds and municipal financial subsidies[9]. - The company plans to focus on enhancing its logistics solutions and expanding its market presence in the upcoming quarters[9]. Asset Composition - The company has a total of 16 cargo aircraft, including 14 B777 and 2 B747, as of the end of the reporting period[14]. - The non-current assets totaled approximately ¥17.27 billion, up from ¥14.14 billion, marking an increase of about 22.67%[18]. - The company introduced one new B777 freighter through financial leasing during the reporting period[14]. - The company reported a significant increase in other receivables, which rose to approximately ¥368 million from ¥155 million, reflecting a growth of about 136.77%[18]. Cost Management - Total operating costs for the first three quarters of 2023 were ¥11,993,008,954.52, down 9.4% from ¥13,227,762,578.10 in 2022[21]. - Cash outflow for employee compensation in the first three quarters of 2023 was CNY 1,526,646,377.60, an increase of 7.9% from CNY 1,414,196,670.72 in 2022[25]. - Cash outflow for taxes in the first three quarters of 2023 was CNY 925,302,280.77, a decrease of 39.3% compared to CNY 1,523,519,083.67 in the same period of 2022[25].