华夏航空(002928) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was ¥1,050,226,848.57, a decrease of 15.97% compared to ¥1,249,880,009.38 in the same period last year[10]. - The net profit attributable to shareholders was -¥96,254,358.57, representing a decline of 212.50% from a profit of ¥85,561,907.32 in the previous year[10]. - The basic earnings per share for the quarter was -¥0.1602, down 212.50% from ¥0.1424 in the same period last year[10]. - The diluted earnings per share also fell to -¥0.1424, a decrease of 200.00% compared to ¥0.1424 in the previous year[10]. - The operating profit for the current period was -¥121,594,819.49, compared to a profit of ¥79,548,067.81 in the previous period, indicating a significant decline[85]. - The net profit for the current period was -¥120,550,063.20, down from a profit of ¥74,267,489.97 in the previous period[85]. - The total comprehensive income for the current period was -¥120,852,880.35, compared to ¥74,267,489.97 in the previous period[88]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥98,605,453.26, a significant increase of 225.94% compared to -¥78,295,361.39 in the same period last year[10]. - The cash flow from operating activities generated a net amount of ¥33,383,588.90, recovering from a negative cash flow of ¥45,021,021.23 in the previous year[96]. - The net increase in cash and cash equivalents for the period was ¥232,178,461.63, a turnaround from a decrease of ¥58,210,277.44 in the prior period[99]. - Total cash and cash equivalents at the end of the period reached ¥1,263,971,518.69, up from ¥488,651,187.73 at the end of the previous period, marking an increase of approximately 158.5%[99]. - Cash inflow from operating activities totaled ¥1,132,677,016.23, slightly down from ¥1,164,686,077.96 in the previous period, indicating a decrease of about 2.7%[96]. - Cash outflow from operating activities decreased to ¥1,099,293,427.33 from ¥1,209,707,099.19, showing a reduction of approximately 9.1%[96]. Assets and Liabilities - The total assets at the end of the reporting period were ¥9,913,204,697.67, reflecting a 1.21% increase from ¥9,794,823,583.26 at the end of the previous year[10]. - Total current liabilities rose to CNY 2,605,413,197.93, up from CNY 2,423,305,438.25, indicating an increase of approximately 7.51%[60]. - The company's non-current liabilities increased to CNY 4,625,692,099.31 from CNY 4,589,592,574.57, marking a rise of about 0.79%[60]. - The company's total liabilities reached CNY 7,201,861,742.59, an increase from CNY 6,934,150,842.45, indicating higher leverage[70]. - The total equity attributable to shareholders decreased to CNY 2,682,099,400.43 from CNY 2,781,925,570.44, a decline of approximately 3.56%[63]. Operational Metrics - Operating revenue decreased significantly due to a sharp drop in passenger travel caused by COVID-19, with flight execution and load factors both declining year-on-year[29]. - The average monthly flight recovery rate reached 67% by March 2020, indicating gradual recovery from the pandemic impact[29]. - The comprehensive load factor dropped to 49.76%, down 13.62% from the previous year[33]. - Passenger turnover decreased by 29.94% year-on-year, with domestic passenger turnover down by 30.94% and international turnover up by 92.14%[33]. - Available ton-kilometers decreased by 9.84% year-on-year, with domestic capacity down by 10.69% and international capacity up by 73.14%[30]. Research and Development - R&D expenses surged by 864.09% to ¥1,497,213.10, reflecting increased investment in information technology[25]. - Research and development expenses rose significantly to CNY 1,497,213.10 from CNY 155,298.36, highlighting a focus on innovation[75]. Government Support and Subsidies - The company received government subsidies amounting to ¥779,926.00, primarily for energy conservation and employment stabilization[10]. - Cash received from government subsidies increased by 1691.68% to ¥254,518,349.68, reflecting support during the pandemic[25]. Risk Management - The company has implemented risk control measures for its oil hedging business to mitigate price volatility risks[42]. - The company has established a comprehensive management system for its hedging operations, including approval processes and internal audits[42].