2021 年半年度报告 公司代码：601021 公司简称：春秋航空 春秋航空股份有限公司 2021 年半年度报告 1 / 166 2021 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人王煜、主管会计工作负责人王志杰及会计机构负责人（会计主管人员）陈可声明： 保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述可能存在的相关风险，敬请查阅本报告" ...

2020 年年度报告 公司代码：601021 公司简称：春秋航空 春秋航空股份有限公司 2020 年年度报告 1 / 218 2020 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 普华永道中天会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报 告。 四、 公司负责人王煜、主管会计工作负责人王志杰及会计机构负责人（会计主管人员）陈可声明： 保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经普华永道中天会计师事务所（特殊普通合伙）审计，公司2020年度母公司净利润为- 95,559.49万元，截至2020年12月31日，母公司累计未分配利润为686,935.44万元。综合考虑公 司当前经营情况、长远发展和全体股东利益，本年度拟不进行现金分红，也不进行资本公积金转 增股本。 2020年以来的新冠疫情对公司经营业绩造成重大不利影响，当前国内、国际疫情发展状况可 能仍会对公司 ...

Financial Performance - Net profit attributable to shareholders was CNY -149.26 million, a decrease of 108.68% year-on-year[5] - Operating revenue decreased by 40.96% to CNY 6.83 billion for the period from January to September[5] - Basic earnings per share were CNY -0.16, a decline of 108.56% year-on-year[6] - The weighted average return on net assets was -1.00%, down 13.19 percentage points from the previous year[6] - The company reported a significant decline in net profit due to the impact of external factors, indicating a need for strategic adjustments moving forward[5] - The company experienced a net loss attributable to shareholders due to the impact of COVID-19, with significant declines in various revenue streams[15] - The company reported a net loss of CNY 308,754,825 after excluding non-recurring gains and losses, a decline of 119.46% year-on-year[42] - The company reported a total comprehensive loss of CNY 527,703,948 for the first three quarters of 2020, compared to a profit of CNY 1,607,437,498 in the same period of 2019[64] Assets and Liabilities - Total assets increased by 10.96% to CNY 32.59 billion compared to the end of the previous year[5] - The company's short-term borrowings increased by 51.08% to CNY 5.22 billion compared to CNY 3.46 billion at the end of 2019, driven by increased funding needs due to the COVID-19 pandemic[14][15] - Total liabilities increased to RMB 17.98 billion from RMB 14.33 billion, which is an increase of approximately 25.5%[20] - The company's equity attributable to shareholders decreased to RMB 14.60 billion from RMB 15.04 billion, a decline of about 2.9%[20] - The total liabilities increased to ¥18,676,246,737 as of September 30, 2020, compared to ¥15,224,562,510 at the end of 2019, representing a growth of 16.1%[22] - The total liabilities rose to CNY 18.68 billion, up from CNY 15.22 billion, indicating a growth of about 22.4%[59] Cash Flow - Net cash flow from operating activities dropped by 93.51% to CNY 207.56 million compared to the same period last year[5] - The company's cash flow from operating activities decreased by 93.51% to CNY 207.56 million from CNY 3.20 billion in the same period of 2019[14][15] - Cash flow from operating activities for the first three quarters of 2020 was 207,563,664 RMB, a sharp decline from 3,199,218,415 RMB in the same period of 2019[29] - The net cash flow from operating activities for the first three quarters of 2020 was -277,641,218 RMB, a significant decrease compared to 1,809,302,258 RMB in the same period of 2019[30] - The company reported a total cash inflow from financing activities of 11,071,662,266 RMB in the first three quarters of 2020, compared to 6,843,378,558 RMB in 2019, showing an increase of 61.5%[29] - The net cash flow from financing activities was 3,440,886,464 RMB, a turnaround from -712,115,604 RMB in the same period last year[67] Shareholder Information - The total number of shareholders reached 27,525 by the end of the reporting period[8] - The largest shareholder, Shanghai Spring International Travel Service, holds 54.99% of the shares[11] - The number of shareholders reached 27,525, with the largest shareholder holding 54.99% of the shares[45] Government Support - The company received government subsidies totaling CNY 211.73 million for the year-to-date, which are closely related to normal business operations[7] - The company received government subsidies totaling CNY 211,729,056 year-to-date, primarily for special support funds and tax refunds[44] Operational Challenges - The company's operating revenue decreased significantly due to the impact of COVID-19, resulting in a net loss attributable to shareholders[52] - The company reported a significant reduction in accounts receivable by 44.68%, down to CNY 66.86 million from CNY 120.85 million, attributed to decreased ticket receivables due to the pandemic[13][14] - The company reported a decrease in investment income, primarily due to reduced dividend income from other equity investments[52] Investment and Development - The company completed a capital increase of up to CNY 750 million (approximately JPY 11 billion) to Spring Airlines Japan, with CNY 731 million already paid[16] - Research and development expenses for Q3 2020 were ¥28,595,880, a decrease of 50.9% from ¥58,186,161 in Q3 2019[24] - The company plans to focus on market expansion and new product development to recover from the current financial downturn[65]

2019 年年度报告 公司代码：601021 公司简称：春秋航空 春秋航空股份有限公司 2019 年年度报告 1 / 210 2019 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 普华永道中天会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人王煜、主管会计工作负责人王志杰及会计机构负责人（会计主管人员）陈可声明： 保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经普华永道中天会计师事务所（特殊普通合伙）审计，公司2019年度母公司净利润为 1,675,399,245元，截至2019年12月31日，母公司累计未分配利润为7,965,868,456元。2019年度 公司拟向全体股东派发现金红利183,345,543元，占当年实现的可供分配利润的10.94%，占当年归 属于上市公司股东的净利润的9.96%。按公司目前总股本916,727,713股 1 ...

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, assuming corresponding legal responsibilities - The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, assuming corresponding legal responsibilities[4](index=4&type=chunk)[39](index=39&type=chunk) - Wang Yu, the company's responsible person, Wang Zhijie, the person in charge of accounting, and Chen Ke, the head of the accounting department, guarantee the truthfulness, accuracy, and completeness of the financial statements[4](index=4&type=chunk)[39](index=39&type=chunk) - This company's Q3 2019 report has not been audited[4](index=4&type=chunk)[39](index=39&type=chunk) [Company Profile](index=3&type=section&id=Item%20II.%20Company%20Profile) This section provides an overview of the company's key financial performance and shareholder structure as of the reporting period [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) As of the first three quarters of 2019, the company achieved robust performance with operating revenue growing by **13.61% to CNY 11.56 billion** and net profit attributable to shareholders increasing by **21.70% to CNY 1.72 billion**, demonstrating strong profitability and healthy cash flow Key Financial Data for Q1-Q3 2019 | Metric | Q1-Q3 2019 | Q1-Q3 2018 | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue (CNY)** | 11,564,379,345 | 10,179,252,453 | 13.61% | | **Net Profit Attributable to Shareholders (CNY)** | 1,718,747,518 | 1,412,285,997 | 21.70% | | **Net Profit Excluding Non-recurring Items (CNY)** | 1,586,748,394 | 1,272,125,437 | 24.73% | | **Net Cash Flow from Operating Activities (CNY)** | 3,199,218,415 | 2,543,556,962 | 25.78% | | **Basic Earnings Per Share (CNY/share)** | 1.87 | 1.58 | 18.35% | | **Weighted Average ROE (%)** | 12.19% | 11.98% | Increased by 0.21 percentage points | - In the first three quarters of 2019, the company's non-recurring gains and losses totaled **CNY 132 million**, primarily from government subsidies, disposal gains on non-current assets, and bill settlement income[6](index=6&type=chunk)[41](index=41&type=chunk) [Shareholder Information](index=4&type=section&id=2.2%20Shareholder%20Information) As of the reporting period, the company had **20,134 shareholders**, with Shanghai Spring International Travel Service (Group) Co., Ltd. as the controlling shareholder holding **54.98%**, and Mr. Wang Zhenghua as the ultimate controlling person - As of the end of the reporting period, the company had a total of **20,134 shareholders**[7](index=7&type=chunk)[42](index=42&type=chunk) Top Five Shareholders' Holdings | Shareholder Name | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | | Shanghai Spring International Travel Service (Group) Co., Ltd. | 504,000,000 | 54.98 | | Hong Kong Securities Clearing Company Limited | 35,441,316 | 3.87 | | Shanghai Spring Airlines Charter Travel Service Co., Ltd. | 34,295,661 | 3.74 | | Shanghai Chunxiang Investment Co., Ltd. | 23,907,711 | 2.61 | | Minsheng Royal Asset Management - Ping An Bank - Minsheng Royal Xinniu Targeted Issuance No. 82 Asset Management Plan | 17,447,657 | 1.90 | - The controlling shareholder, Spring International Travel Service, along with Spring Airlines Charter, Chunxiang Investment, and Chunyi Investment, form a concerted action group, with Mr. Wang Zhenghua as the ultimate controlling person[10](index=10&type=chunk)[45](index=45&type=chunk) [Significant Events](index=6&type=section&id=Item%20III.%20Significant%20Events) This section analyzes significant changes in key financial statement items and indicators, detailing the underlying reasons for these movements [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=6&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20in%20Key%20Financial%20Statement%20Items%20and%20Indicators) During the reporting period, several financial statement items experienced significant changes, including a **68.31% increase in monetary funds** and a **91.63% decrease in bonds payable**, alongside substantial shifts in investment income, asset disposal gains, and cash flows from investing and financing activities Balance Sheet Key Item Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Monetary Funds | 68.31% | Increase in other monetary funds | | Prepayments | 173.34% | New prepaid land transfer fees | | Other Receivables | -71.60% | Decrease in structured deposits | | Short-term Borrowings | 49.82% | Increase in aircraft prepayment borrowings | | Taxes Payable | 112.99% | Increase in corporate income tax payable | | Bonds Payable | -91.63% | Bond repurchases | Income Statement Key Item Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | R&D Expenses | 36.22% | Increased investment in IT technology application and development | | Investment Income | 149.40% | Changes in net gains/losses from foreign exchange forward contracts and loan interest rate swap contracts settlement | | Fair Value Change Income | -149.02% | Fair value changes of financial assets and liabilities held for trading | | Asset Disposal Gains | 108.50% | Increase in gains from transfer of purchase rights | - Net cash outflow from investing activities decreased by **80.80%**, primarily due to a reduction in structured deposits, while net cash inflow from financing activities decreased by **68.82%** due to prior period private placement financing and current period bond repurchases[12](index=12&type=chunk)[13](index=13&type=chunk)[48](index=48&type=chunk) [Appendix](index=9&type=section&id=Item%20IV.%20Appendix) This section includes the company's unaudited financial statements and details on the impact of new accounting standards implementation [Financial Statements](index=9&type=section&id=4.1%20Financial%20Statements) This section presents the company's unaudited consolidated and parent company financial statements, including the balance sheet, income statement, and cash flow statement, reflecting the financial position as of September 30, 2019, and operating results for the first three quarters of 2019 [Consolidated Balance Sheet](index=9&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2019, total assets reached **CNY 29.39 billion**, a **10.60% increase** from year-end, with total liabilities at **CNY 14.53 billion** and owners' equity attributable to the parent company at **CNY 14.86 billion**, up **11.52%** Consolidated Balance Sheet Key Items (Unit: CNY) | Item | September 30, 2019 | December 31, 2018 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **29,391,219,056** | **26,575,393,475** | **+10.60%** | | Monetary Funds | 8,235,214,579 | 4,892,899,395 | +68.31% | | Fixed Assets | 10,665,488,380 | 10,454,334,362 | +2.02% | | **Total Liabilities** | **14,527,398,120** | **13,250,715,198** | **+9.63%** | | Short-term Borrowings | 4,037,850,663 | 2,695,159,618 | +49.82% | | **Owners' Equity Attributable to Parent Company** | **14,859,473,636** | **13,324,678,277** | **+11.52%** | [Consolidated Income Statement](index=12&type=section&id=Consolidated%20Income%20Statement) In the first three quarters of 2019, operating revenue reached **CNY 11.56 billion**, a **13.61% increase**, with total operating costs at **CNY 10.03 billion**, resulting in net profit attributable to parent company shareholders of **CNY 1.72 billion**, up **21.70%** Consolidated Income Statement Key Items (Unit: CNY) | Item | Q1-Q3 2019 | Q1-Q3 2018 | Change | | :--- | :--- | :--- | :--- | | **Total Operating Revenue** | **11,564,379,345** | **10,179,252,453** | **+13.61%** | | **Total Operating Costs** | **10,024,778,666** | **9,083,614,554** | **+10.36%** | | Operating Profit | 2,228,333,598 | 1,846,704,599 | +20.66% | | **Total Profit** | **2,274,504,090** | **1,878,850,184** | **+21.06%** | | **Net Profit Attributable to Parent Company Shareholders** | **1,718,747,518** | **1,412,285,997** | **+21.70%** | | **Basic Earnings Per Share (CNY/share)** | **1.87** | **1.58** | **+18.35%** | [Consolidated Cash Flow Statement](index=15&type=section&id=Consolidated%20Cash%20Flow%20Statement) In the first three quarters of 2019, net cash flow from operating activities was **CNY 3.20 billion**, a **25.78% increase**, while net cash outflow from investing activities significantly decreased by **80.80% to CNY 896 million**, and net cash inflow from financing activities decreased by **68.82% to CNY 922 million** Consolidated Cash Flow Statement Key Items (Unit: CNY) | Item | Q1-Q3 2019 | Q1-Q3 2018 | Change | | :--- | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | **3,199,218,415** | **2,543,556,962** | **+25.78%** | | **Net Cash Flow from Investing Activities** | **-895,832,774** | **-4,665,332,043** | **-80.80% (Net outflow decreased)** | | **Net Cash Flow from Financing Activities** | **922,265,149** | **2,958,132,958** | **-68.82%** | | **Period-end Cash and Cash Equivalents Balance** | **8,043,373,181** | **5,099,744,695** | **+57.72%** | [Impact of Accounting Standard Changes](index=17&type=section&id=4.2%20Impact%20of%20Accounting%20Standard%20Changes) Effective January 1, 2019, the company adopted new financial instrument accounting standards, reclassifying certain financial assets and liabilities on the opening balance sheet, which solely impacted statement presentation without affecting opening net assets or net profit - The company adopted new financial instrument accounting standards, including the Ministry of Finance's revised 'Accounting Standard for Business Enterprises No. 22 – Recognition and Measurement of Financial Instruments,' effective January 1, 2019[31](index=31&type=chunk)[35](index=35&type=chunk)[66](index=66&type=chunk) Key Adjustments to Opening Consolidated Balance Sheet (Unit: CNY) | Item Before Adjustment | Amount Before Adjustment | Item After Adjustment | Amount After Adjustment | | :--- | :--- | :--- | :--- | | Financial Assets Measured at Fair Value with Changes Recognized in Profit or Loss | 16,745,806 | Financial Assets Held for Trading | 16,745,806 | | Available-for-sale Financial Assets | 986,758,817 | Investments in Other Equity Instruments | 986,758,817 | | Financial Liabilities Measured at Fair Value with Changes Recognized in Profit or Loss | 3,558,635 | Financial Liabilities Held for Trading | 3,558,635 |