JUNEYAOAIR(603885) 搜狐财经·2025-04-22 06:45Core Viewpoint - Shanghai Juneyao Airlines Co., Ltd. reported a revenue of 22.095 billion yuan for 2024, marking a year-on-year increase of 9.95%, with a net profit of 914 million yuan, up 17.52% from the previous year [1][2] Financial Performance - The company's gross profit margin for its main business was 13.51%, a decrease of 0.39 percentage points year-on-year [1] - Juneyao Airlines' subsidiary, Juneyao Air, achieved a revenue of 5.805 billion yuan, representing a nearly 60% year-on-year growth, and a net profit of 332 million yuan, up over 27% [1] Industry Context - The civil aviation industry saw a reduction in losses by 20.6 billion yuan last year, with expectations for further profitability improvements this year [4] - Major state-owned airlines reported record revenues but collectively incurred a net loss of 6.159 billion yuan, a significant reduction of over 50% in losses [4] Shareholder Returns - Juneyao Airlines repurchased 25.3795 million shares, accounting for 1.15% of the total share capital, with a repurchase amount nearing 300 million yuan [5] - The company plans to distribute a cash dividend of 1 yuan per 10 shares for the 2024 fiscal year, with a total cash dividend of 414 million yuan, representing a cash dividend ratio of 45.33% [5] Operational Highlights - The number of passengers increased by 12.26% year-on-year, with domestic, international, and regional passenger numbers growing by 4.74%, 142.21%, and 15.95%, respectively [6] - The overall seat occupancy rate reached 84.62%, an increase of 1.81 percentage points year-on-year, with international routes achieving a seat occupancy rate of 76.04%, up 5.65 percentage points [6] Strategic Developments - The company is expanding its international flight offerings, with nearly 40% of flights in the new season being international, and plans to increase its route network to over 300 routes covering 15 countries [7] - Juneyao Airlines aims to enhance its international marketing capabilities and develop a multi-dimensional ancillary product system, including optimized seat selection and pet travel products [8] Market Insights - The airline industry is experiencing price volatility due to market demand and competition, with a focus on flexible pricing strategies based on seasonal demand [9] - The departure of Fang Wei from the top ten shareholders of Juneyao Airlines was noted, with the chairman commenting on the company's focus on establishing a dual-brand strategy [9]