Financial Performance - Total revenue for the year 2022 was RMB 46,111 million, a decrease of 31.3% from RMB 67,127 million in 2021[2] - Operating expenses totaled RMB 81,359 million, down 6.5% from RMB 86,724 million in the previous year[2] - The operating loss for 2022 was RMB 31,635 million, compared to an operating loss of RMB 13,518 million in 2021[3] - The net loss for the year was RMB 39,900 million, significantly higher than the net loss of RMB 13,284 million in 2021[5] - Basic and diluted loss per share for the year was RMB 1.98, compared to RMB 0.73 in the previous year[5] - Customer contract revenue for 2022 was RMB 45,874 million, down 31.5% from RMB 66,887 million in 2021[25] - Domestic revenue decreased to RMB 34,449 million in 2022 from RMB 56,133 million in 2021, representing a decline of 38.7%[22] - The company reported a net loss of RMB 373.86 million attributable to equity holders for 2022[33] - The net loss attributable to equity holders of the company in 2022 was RMB 37.386 billion, compared to a net loss of RMB 12.214 billion in 2021[59] Assets and Liabilities - Non-current assets totaled RMB 260,571 million, slightly down from RMB 260,880 million in 2021[6] - Current assets decreased to RMB 27,413 million from RMB 27,910 million in 2021[6] - Total liabilities increased to RMB 149,195 million from RMB 145,747 million in the previous year[8] - Total equity decreased to RMB 32,343 million from RMB 57,152 million in 2021[9] - As of December 31, 2022, the company's current liabilities exceeded current assets by approximately RMB 79.03 billion[11] - Total assets reported for 2022 were RMB 287,984 million, slightly down from RMB 288,790 million in 2021[23] - As of December 31, 2022, the total assets of the group were RMB 287.984 billion, a decrease of 0.28% from the previous year[60] - The debt-to-asset ratio increased to 88.77% as of December 31, 2022, up 8.56 percentage points from the previous year[60] Operational Highlights - The company is primarily engaged in civil aviation operations, including passenger, cargo, and mail transport[10] - The revenue from the airline business segment was RMB 45.86 billion, with a reported segment loss before tax of RMB 40.18 billion[16] - The total available ton-kilometers (ATK) decreased by 36.24% to 15,008.09 million in 2022 from 23,539.47 million in 2021[42] - The total number of aircraft operated was 778, with 34 new aircraft introduced and 11 retired in 2022[43] - The cargo load factor increased by 3.71 percentage points to 41.09% in 2022 from 37.38% in 2021[41] - In 2022, the group's passenger revenue was RMB 35.004 billion, a decrease of 35.30% year-on-year, accounting for 81.83% of total transportation revenue[56] - Domestic passenger revenue was RMB 30.571 billion, down 39.60% year-on-year, representing 87.33% of passenger revenue[56] - International passenger revenue increased by 30.86% year-on-year to RMB 4.185 billion, accounting for 11.96% of passenger revenue[56] Cash Flow and Financing - The company reported a net cash outflow from operating activities of RMB 6.47 billion[11] - The company expects to achieve a net cash inflow from operating activities for at least the next twelve months, considering factors such as flight recovery and operational costs including fuel prices[11] - The company has sufficient unused bank credit facilities as of December 31, 2022, to support its operations and debt repayments[11] - The company anticipates continued access to adequate financing sources over the next twelve months to ensure operational sustainability[11] - The company raised approximately RMB 15 billion through a private placement of 3,416,856,492 A shares at a price of RMB 4.39 per share, completed on December 29, 2022[97] Strategic Initiatives - The company launched the "Domestic Through Train" product on December 30, 2022, involving 19 routes and 27 flight combinations[48] - The group achieved a total of 270 quality improvement projects to enhance efficiency and effectiveness[51] - The company is actively pursuing sustainable aviation fuel (SAF) development and has established a leadership team for its deployment[54] - The company is focusing on digital innovation and enhancing customer service experience through a member ecosystem[90] - The company is committed to social responsibility, including rural revitalization and promoting sustainable aviation fuel[91] Future Outlook - The company anticipates challenges in global economic growth but expects a significant recovery in the domestic aviation passenger market in 2023[86] - The company plans to capitalize on market recovery opportunities by optimizing flight schedules and enhancing competitiveness in key economic regions[88] - The company plans to introduce 36 aircraft in 2023, with a total of 50 aircraft planned for 2024 and 35 for 2025, while retiring 14, 23, and 37 aircraft respectively during the same years[92] Governance and Compliance - The company has implemented a comprehensive governance framework to ensure compliance with regulatory requirements[98] - The company has established a training mechanism to enhance the legal compliance awareness of its directors and senior management[99] - The company is committed to optimizing corporate governance and enhancing communication with investors to minimize stock price volatility[82]
中国东方航空股份(00670) - 2022 - 年度业绩