华夏航空(002928) - 2023 Q1 - 季度财报

Financial Performance - The total revenue for the first quarter was CNY 1,044,672,107.02, representing a 74.18% increase compared to CNY 599,779,809.43 in the same period last year[23] - The net loss attributable to shareholders was CNY -275,862,413.08, an improvement of 39.46% from CNY -455,687,709.94 year-over-year[23] - The company's operating revenue for Q1 2023 reached CNY 1,044,672,107.02, a 74.18% increase compared to CNY 599,779,809.43 in Q1 2022[29] - The net profit for the quarter was -275.86 million yuan, primarily due to increased fuel costs from a significant rise in oil prices despite recovering passenger demand[39] - The net profit margin decreased, with a net loss of CNY -918,966,926.17 in Q1 2023, worsening by 42.90% from CNY -643,104,513.09 in the previous year[29] Expenses and Costs - Research and development expenses increased by 79.96% to CNY 2,578,411.14 from CNY 1,432,735.34, indicating a significant investment in innovation[21] - The total operating costs for the quarter were 1,416.93 million yuan, up from 1,125.15 million yuan in the previous period[50] - Financial expenses decreased by 30.87% to CNY 75,350,349.92, primarily due to foreign exchange gains[21] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 48.84% to CNY 154,049,551.56, down from CNY 301,117,061.63 in the previous year[21] - Cash and cash equivalents increased by 31.00% to CNY 2,344,181,061.68 as of March 31, 2023, up from CNY 1,789,386,006.79 at the end of 2022[29] - Net cash flow from financing activities was ¥357,954,678.10, compared to a negative cash flow of -¥12,377,524.85 in the previous period[61] - Operating cash flow for the current period was ¥154,049,551.56, a decrease of 48.9% compared to ¥301,117,061.63 in the previous period[60] Assets and Liabilities - The total assets at the end of the reporting period were CNY 17,716,432,016.30, a 1.26% increase from CNY 17,495,792,572.13 at the end of the previous year[23] - The total liabilities amounted to ¥13,939,804,592.99, an increase of 3.7% from ¥13,443,302,735.74 in the previous period[60] - Total current liabilities increased to ¥5,701,316,855.97, up 21.1% from ¥4,706,982,407.01 in the previous period[60] - Total non-current liabilities decreased to ¥8,238,487,737.02, down 5.7% from ¥8,736,320,328.73 in the previous period[60] Shareholder Metrics - The weighted average return on equity was -7.05%, an improvement from -13.44% in the previous year[23] - The basic earnings per share improved to -0.2166 from -0.4517, reflecting a 52.05% reduction in loss per share[23] - The total equity attributable to shareholders decreased by 6.81% to CNY 3,776,627,423.31 from CNY 4,052,489,836.39[23] Operational Metrics - The available ton-kilometers (ATK) increased by 50.38% to 25,495.34 million ton-kilometers in Q1 2023, compared to 16,954.31 million ton-kilometers in the same period last year[36] - The total passenger turnover (RPK) rose by 60.60% to 167,329.08 million passenger-kilometers in Q1 2023, compared to 104,188.90 million passenger-kilometers in Q1 2022[36] - The number of available seat-kilometers (ASK) increased by 53.85% to 236,846.94 million seat-kilometers in Q1 2023[36] - The comprehensive load factor (RTK/ATK) improved to 59.12%, up by 3.13% year-on-year[44] - The passenger load factor (RPK/ASK) increased to 70.65%, representing a growth of 2.97% compared to the same period last year[44] Future Plans - The company plans to continue expanding its market presence and enhancing operational efficiency through strategic investments and fleet modernization[30] - The company plans to permanently supplement working capital with 101.52 million yuan of surplus funds from its convertible bond project[52]