SA(SH:601021) Sou Hu Cai Jing·2025-08-28 13:49Core Viewpoint - Spring Airlines, known as the "most profitable airline in China," reported a revenue of 10.304 billion yuan for the first half of the year, a year-on-year increase of 4.35%, but a net profit attributable to shareholders of 1.169 billion yuan, a decrease of 14.11% compared to the previous year [1][2]. Financial Performance - Revenue for the first half of the year reached 10.304 billion yuan, up 4.35% from 9.875 billion yuan in the same period last year [2]. - Net profit attributable to shareholders was 1.169 billion yuan, down 14.11% from 1.361 billion yuan year-on-year [2]. - Basic earnings per share were reported at 1.2 yuan [1]. - The net cash flow from operating activities decreased by 13.15% to 2.79 billion yuan [2]. Operational Metrics - The total transport turnover for the first half of 2025 was 241,295.8 million ton-kilometers, with passenger turnover at 2,652,891.0 million passenger-kilometers, and the number of transported passengers at 15.219 million, representing increases of 8.9%, 8.5%, and 9.4% respectively [2]. - The passenger load factor was 90.5%, a decrease of 0.8 percentage points year-on-year [2]. Route Network and Capacity - As of the end of the first half of 2025, the company operated a total of 251 routes, including 192 domestic routes and 55 international routes [3]. - Available seat kilometers increased by 9.5% year-on-year, with domestic and international routes growing by 3.6% and 41.0% respectively [3]. Cost Management - The unit cost for the first half of 2025 was 0.303 yuan, a decrease of 3.5% compared to the previous year, while the unit non-fuel cost increased by 1.9% to 0.201 yuan [3]. - The main reason for the decrease in unit cost was the downward trend in international oil prices and a 5.0% increase in daily utilization hours [3]. Dividend Announcement - The company announced a cash dividend of 0.43 yuan per share, totaling 418 million yuan, which represents 35.74% of the net profit attributable to shareholders for the first half of 2025 [4].