JUNEYAOAIR(SH:603885)2021-04-19 16:00Financial Performance - In 2020, the total operating revenue of Juneyao Air was approximately CNY 10.10 billion, a decrease of 39.69% compared to CNY 16.75 billion in 2019[21]. - The net profit attributable to shareholders was a loss of approximately CNY 473.78 million, a decline of 147.64% from a profit of CNY 994.47 million in 2019[21]. - The cash flow from operating activities was approximately CNY 612.65 million, down 77.61% from CNY 2.74 billion in 2019[21]. - The total assets at the end of 2020 were approximately CNY 32.31 billion, a decrease of 2.50% from CNY 33.14 billion at the end of 2019[21]. - The basic earnings per share for 2020 was -CNY 0.24, compared to CNY 0.54 in 2019, reflecting a decrease of 144.44%[23]. - The weighted average return on equity was -3.99% in 2020, down 13.18 percentage points from 9.19% in 2019[23]. - The company reported a net profit attributable to shareholders of -474 million yuan for the year[82]. - The company’s cargo transport revenue reached 620 million yuan, accounting for 6.13% of total revenue[82]. - The company reported a 42.40% decline in passenger transport revenue, amounting to CNY 9.38 billion, while cargo transport revenue increased by 107.08% to CNY 619.71 million[102]. Shareholder Information - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares to all shareholders, totaling RMB 196,076,111.70 (including tax) after repurchasing 5,383,040 shares[2]. - The company does not plan to increase capital reserves to convert into share capital for the 2020 fiscal year[2]. - The company reported a net loss of CNY 473.78 million for 2020, resulting in a dividend payout ratio of -41.38%[198]. - The company repurchased shares amounting to ¥52,002,164.55, reflecting a decrease of 10.98% in cash dividends[199]. Operational Performance - The company operated a fleet of 72 Airbus A320 series aircraft and 6 Boeing B787 series aircraft by the end of the reporting period[33]. - The company executed over 400 cargo charter flights in 2020, transporting more than 4,000 tons of cargo, with a year-on-year increase in cargo gross profit of 0.61%[35]. - The company maintained a "no layoffs, no salary cuts" policy during the pandemic while actively seeking market opportunities[35]. - The company achieved a single-quarter profit in Q3 2020, benefiting from effective domestic pandemic control measures[36]. - The company operated 1,778 flights weekly, serving over 190 routes from Shanghai as the main operational base[77]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements related to economic conditions and future plans[3]. - The company has detailed potential risks in the "Discussion and Analysis of Operating Conditions" section of the report[4]. - The company recognizes risks related to aviation safety and is committed to maintaining a robust safety management system to mitigate potential operational risks[179]. - The company is aware of the risks associated with changes in aviation policies that could impact its business operations and market access[180]. Market Strategy - The company aims to leverage its geographical advantages and operational experience to expand its low-cost airline market presence[55]. - The company has established a dual-brand and dual-hub operation strategy, covering high, medium, and low-end passenger markets[56]. - The company emphasizes a differentiated competition strategy, focusing on superior service quality and optimal cost structure rather than price competition[57]. - The company plans to expand its network in the Yangtze River Delta region, focusing on cities like Hangzhou and Wuxi[69]. Safety and Compliance - The company achieved "zero findings" in the IOSA remote audit, ensuring operational safety[67]. - The company maintained a zero accident rate and reduced serious error rates by 28.6% compared to 2019[86]. - The company has made commitments regarding the accuracy and completeness of information provided during transactions, ensuring legal responsibility for any misrepresentation[200]. Future Outlook - The company plans to expand its fleet, with a net increase of 17 aircraft expected in 2021, bringing the total fleet size to 89 for JUNEYAO and 26 for QIYUN[81]. - The company plans to open new routes and optimize its existing route network in 2021, including code-sharing with other airlines[145]. - The company aims to enhance its operational quality and efficiency through system platform-based management and risk management upgrades, including ETOPS and GLS certifications for international operations[172]. - The company plans to enhance safety management through digitalization and data analysis to reduce operational risks and improve safety quality[168].