Hainan Airlines Holding(SH:600221)2024-04-26 14:23Major Financial Data and Operating Overview Core Financial Indicators In Q1 2024, the company achieved strong performance recovery with operating revenue growing by 33.48% year-over-year, and net profit attributable to shareholders of the listed company significantly increasing by 334.51%, turning losses into profits. Operating cash flow was robust, increasing by 47.41% year-over-year, indicating enhanced primary business cash generation. Shareholder equity grew by 19.61% compared to the end of the previous year Core Financial Indicators for Q1 2024 | Indicator | Current Period | Prior Period/Prior Year-end | YoY/QoQ Change | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY Thousand) | 17,549,904 | 13,147,778 | +33.48% | | Net Profit Attributable to Parent Company Shareholders (CNY Thousand) | 686,528 | 158,002 | +334.51% | | Net Cash Flow from Operating Activities (CNY Thousand) | 4,031,479 | 2,734,931 | +47.41% | | Basic Earnings Per Share (CNY/share) | 0.0159 | 0.0037 | +329.73% | | Total Assets (CNY Thousand) | 134,786,754 | 134,034,890 | +0.56% | | Total Equity Attributable to Parent Company Shareholders (CNY Thousand) | 2,763,033 | 2,309,965 | +19.61% | Non-recurring Gains and Losses In the current reporting period, the company's total non-recurring gains and losses were CNY 72.38 million, mainly from fair value changes in financial assets/liabilities held by non-financial enterprises, disposal of non-current assets, and government grants Non-recurring Gains and Losses Items for Q1 2024 | Item | Amount (CNY Thousand) | | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | 18,984 | | Government Grants | 7,643 | | Gains and Losses from Changes in Fair Value of Financial Assets/Liabilities | 35,796 | | Other Non-operating Income and Expenses | 17,082 | | Total | 72,378 | Analysis of Major Financial Indicator Changes The company attributes the significant growth in key financial indicators such as operating revenue, net profit, and EPS in the current period to the sustained recovery of the aviation market, which directly drove increased capacity and transport turnover - Significant revenue and profit growth during the reporting period primarily resulted from the aviation market recovery, leading to increased company capacity and transport turnover6 Shareholder Information Shareholding Status of Shareholders As of the end of the reporting period, the company had 387,578 common shareholders. The top three shareholders are Hainan Hanwei Investment Co., Ltd., Hainan Fangda Aviation Development Co., Ltd., and Grand China Air Co., Ltd., collectively holding over 41% of shares. Some major shareholders have related party relationships or are deemed acting in concert - As of the end of the reporting period, the company had a total of 387,578 common shareholders8 Shareholding Status of Top Three Shareholders | Shareholder Name | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | | Hainan Hanwei Investment Co., Ltd. | 10,546,866,453 | 24.41 | | Hainan Fangda Aviation Development Co., Ltd. | 4,200,000,000 | 9.72 | | Grand China Air Co., Ltd. | 3,305,200,000 | 7.65 | - Among major shareholders, Hainan Hanwei Investment Co., Ltd. and Grand China Air Co., Ltd. are indirect controlled subsidiaries of Hainan Fangda Aviation Development Co., Ltd.; Hainan Lucky International Travel Charter Co., Ltd., Hainan HNA Business Services Co., Ltd., and HNA Group Co., Ltd. are acting in concert9 Quarterly Financial Statements Consolidated Balance Sheet As of March 31, 2024, total assets were CNY 134.79 billion, a slight increase of 0.56% from year-end. Total liabilities were CNY 132.71 billion, indicating a high debt-to-asset ratio. Benefiting from current period profits, equity attributable to parent company shareholders increased to CNY 2.76 billion, up 19.61% from year-end Key Balance Sheet Items (CNY Thousand) | Item | March 31, 2024 | December 31, 2023 | Change | | :--- | :--- | :--- | :--- | | Total Current Assets | 29,182,417 | 27,133,985 | +7.55% | | Total Non-current Assets | 105,604,337 | 106,900,905 | -1.21% | | Total Assets | 134,786,754 | 134,034,890 | +0.56% | | Total Current Liabilities | 33,727,051 | 32,907,619 | +2.49% | | Total Non-current Liabilities | 98,985,532 | 99,549,936 | -0.57% | | Total Liabilities | 132,712,583 | 132,457,555 | +0.19% | | Total Equity Attributable to Parent Company Shareholders | 2,763,033 | 2,309,965 | +19.61% | | Total Shareholders' Equity | 2,074,171 | 1,577,335 | +31.50% | Consolidated Income Statement In Q1 2024, the company achieved total operating revenue of CNY 17.55 billion, a 33.48% year-over-year increase. Benefiting from revenue growth and cost control, operating profit reached CNY 672 million, with net profit attributable to parent company shareholders ultimately reaching CNY 687 million, a significant increase from CNY 158 million in the prior year, indicating substantial improvement in profitability Key Income Statement Items (CNY Thousand) | Item | Q1 2024 | Q1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 17,549,904 | 13,147,778 | +33.48% | | Total Operating Costs | 17,026,081 | 13,299,767 | +28.02% | | Operating Profit | 671,795 | 74,346 | +803.59% | | Total Profit | 696,520 | 86,647 | +703.97% | | Net Profit | 696,384 | 86,644 | +703.79% | | Net Profit Attributable to Parent Company Shareholders | 686,528 | 158,002 | +334.51% | | Basic Earnings Per Share (CNY/share) | 0.0159 | 0.0037 | +329.73% | Consolidated Cash Flow Statement During the reporting period, net cash flow from operating activities was CNY 4.03 billion, a 47.41% year-over-year increase, indicating strengthened primary business cash generation. Net cash flow from investing activities turned from a net outflow of CNY 538 million in the prior period to a net inflow of CNY 163 million. Net cash outflow from financing activities was CNY 2.50 billion, primarily for debt repayment and interest payments Key Cash Flow Statement Items (CNY Thousand) | Item | Q1 2024 | Q1 2023 | | :--- | :--- | | Net Cash Flow from Operating Activities | 4,031,479 | 2,734,931 | | Net Cash Flow from Investing Activities | 162,765 | -537,849 | | Net Cash Flow from Financing Activities | -2,500,256 | -2,546,696 | | Net Increase in Cash and Cash Equivalents | 1,690,347 | -349,311 |