TIDMAIRC
RNS Number : 9341U
Air China Ld
30 October 2017
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange
of Hong Kong Limited take no responsibility for the contents of
this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this announcement.
AIR CHINA LIMITED
(a joint stock limited company incorporated in the People's
Republic of China with limited liability)
(Stock Code: 00753)
THIRD QUARTERLY REPORT 2017
This announcement is made pursuant to Part XIVA of the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong) and Rule 13.09 and Rule 13.10B of the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong
Limited.
The board of directors (the "Board") of Air China Limited (the
"Company") held a meeting of the Board on 27 October 2017 and
passed the resolution approving the third quarterly report 2017 of
the Company for the nine months ended 30 September 2017 prepared in
accordance with the PRC Accounting Standards.
1. IMPORTANT NOTICE
1.1 The Board and the supervisory committee of the Company
together with the directors, supervisors and the senior management
of the Company guarantee that the contents of the quarterly report
are true, accurate and complete and do not contain any false
representation, misleading statement or material omission, and
shall jointly and severally accept legal liability.
1.2 All directors of the Company attended the board meeting to consider the quarterly report.
1.3 Mr. Cai Jianjiang (legal representative and the Chairman of
the Board of the Company), Mr. Xiao Feng (person in charge of
accounting function and the Chief Financial Officer), and Mr. Zhan
Zhong (person in charge of accounting department (accounting
superintendent) and the general manager of finance department)
hereby guarantee that the financial statements set out in this
quarterly report are true, accurate and complete.
1.4 The third quarterly report of the Company is unaudited.
2. BASIC INFORMATION OF THE COMPANY
2.1 Major financial data
Unit: RMB'000
Increase/decrease
at the end
of the reporting
period as
compared
to
the end of
At the end At the end the
of the of the previous
reporting period previous year year
(%)
Total assets 239,073,681 224,128,192 6.67
Net asset attributable
to shareholders of
the listed company 85,618,153 68,876,496 24.31
For the period
from the
beginning Increase/decrease
of the year For the corresponding as compared
to the end period of to the corresponding
of the reporting the previous period of
period (January year (January the previous
to September) to September) year
(%)
Net cash flows from
operating activities 18,860,654 24,008,238 (21.44)
For the period
from the
beginning Increase/decrease
of the year For the corresponding as compared
to the end period of to the corresponding
of the reporting the previous period of
period (January year (January the previous
to September) to September) year
(%)
Revenue 92,995,787 85,447,650 8.83
Net profit attributable
to shareholders of
the listed company 8,278,508 7,226,708 14.55
Net profit attributable
to shareholders of
the listed company
after deducting non-recurring
profits and losses 8,150,110 6,691,893 21.79
Weighted average return Decreased by
on net assets (%) 10.34 11.39 1.05 ppts
Basic earnings per
share
(RMB per share) 0.62 0.59 5.08
Diluted earnings per
share
(RMB per share) N/A N/A N/A
Non-recurring profits and losses
Applicable
Unit: RMB'000
Amounts for
the period
from the
beginning
of the year
Amounts for to the end
the period of the reporting
(July to period (January
Items September) to September)
Gains or losses on disposal
of non-current assets 47,464 45,485
Government subsidies recorded
in the income statement for
the current period (exclusive
of government subsidies which
are closely related to the
normal operating business
of the Company and consistently
entitled pursuant to prescribed
standard quota or amount under
the government policy) 40,604 129,575
Gains or losses from changes
in fair value of financial
assets/liabilities held for
trading and investment gains
from disposal of financial
assets/ liabilities held for
trading and available-for-sale
financial assets (except for
hedging activities related
to the Company's normal operating
business) 338 370
Reversal of provision for
impairment of receivables
which are individually tested
for impairment - 3,572
Other non-operating income
and expenses not covered above 6,506 40,044
Effect of minority shareholders'
interests
(after taxation) (8,337) (31,342)
Effect of income tax (25,481) (59,306)
Total 61,094 128,398
2.2 Total number of shareholders, the top 10 shareholders and
the top 10 holders of tradable shares (or shares not subject to
selling restrictions) as at the end of the reporting period
Unit: share
Total number of shareholders 179,431
Particulars of the top 10 shareholders
Shares pledged
or frozen
Number
of Number
shares of
held shares
as at held
the end subject Nature
Name of shareholder of the Shareholding to selling of
(full name) period percentage restrictions Status Number shareholder
(%)
China National
Aviation Holding
Company 5,952,236,697 40.98 513,478,818 Frozen 127,445,536 State
Cathay Pacific Foreign legal
Airways Limited 2,633,725,455 18.13 0 Nil / person
HKSCC NOMINEES Foreign legal
LIMITED 1,684,098,519 11.60 0 Nil / person
China National
Aviation Corporation Foreign legal
(Group) Limited 1,556,334,920 10.72 0 Frozen 36,454,464 person
China National
Aviation Fuel State-owned
Group Corporation 469,145,502 3.23 385,109,114 Nil / legal person
China Securities
Finance Corporation State-owned
Limited 384,806,469 2.65 0 Nil / legal person
Zhongyuan Equity
Investment
Management State-owned
Co., Ltd. 262,569,509 1.81 256,739,409 Unknown 262,569,405 legal person
China Structural
Reform Fund State-owned
Co., Ltd. 231,065,468 1.59 231,065,468 Nil / legal person
National Social
Security Fund
118 71,034,895 0.49 0 Nil / Unknown
China Merchants
Securities State-owned
Co., Ltd. 34,419,032 0.24 0 Nil / legal person
Particulars of the top 10 shareholders not subject
to selling restrictions
Class and number of
shares
Number
of
tradable
shares
held not
subject
to selling
Name of shareholder restrictions Class Number
China National Aviation RMB ordinary
Holding Company 5,438,757,879 shares 5,438,757,879
Cathay Pacific Airways Overseas listed
Limited 2,633,725,455 foreign shares 2,633,725,455
Overseas listed
HKSCC NOMINEES LIMITED 1,684,098,519 foreign shares 1,684,098,519
China National Aviation
Corporation RMB ordinary
(Group) Limited 1,556,334,920 shares 1,332,482,920
Overseas listed
foreign shares 223,852,000
China Securities Finance RMB ordinary
Corporation Limited 384,806,469 shares 384,806,469
China National Aviation RMB ordinary
Fuel Group Corporation 84,036,388 shares 84,036,388
National Social Security RMB ordinary
Fund 118 71,034,895 shares 71,034,895
China Merchants Securities RMB ordinary
Co., Ltd. 34,419,032 shares 34,419,032
Sinotrans Air Transportation
Development RMB ordinary
Co., Ltd. 23,120,000 shares 23,120,000
RMB ordinary
Jiang Hongye 23,000,000 shares 23,000,000
Explanation on connected China National Aviation Corporation
relationship or action (Group) Limited is a wholly-owned
in concert among the subsidiary of China National
above shareholders Aviation Holding Company. Accordingly,
China National Aviation Holding
Company is directly and indirectly
interested in 51.70% of the
shares of the Company.
Explanation of holders Nil
of preference shares
with restored voting
rights and number
of shares held
1. HKSCC NOMINEES LIMITED is a subsidiary of The Stock Exchange
of Hong Kong Limited and its principal business is acting as
nominee for and on behalf of other corporate shareholders or
individual shareholders. The 1,684,098,519 H shares held by it in
the Company do not include the 166,852,000 shares held by it as
nominee of China National Aviation Corporation (Group) Limited.
2. According to the "Implementation Measures on Partial Transfer
of State-owned Shares to the National Social Security Fund in the
Domestic Securities Market" (Cai Qi [2009] No. 94) ( ( [2009]94 ))
and the Notice ([2009] No. 63) jointly issued by the Ministry of
Finance, the State-owned Assets Supervision and Administration
Commission of the State Council, China Securities Regulatory
Commission and the National Council for Social Security Fund,
127,445,536 shares and 36,454,464 shares held by China National
Aviation Holding Company, the controlling shareholder of the
Company, and China National Aviation Corporation (Group) Limited
respectively are frozen at present.
2.3 Total number of holders of preference shares, the top 10
holders of preference shares and the top 10 holders of preference
shares not subject to selling restrictions as at the end of the
reporting period
Not applicable
3. SIGNIFICANT EVENTS
3.1 Particulars of, and reasons for, significant changes in
major items in the accounting statements and key financial
indicators of the Company
Applicable
Unit: RMB'000
Items in Balance at
consolidated the end of Balance at
balance the reporting the beginning Amount of Percentage
sheet period of the year Change (%) Reasons for Change
Mainly due to the
sale back of medium-term
notes planned by
Cash and the Group with
bank 12,520,406 7,322,356 5,198,050 70.99 its own funds.
Mainly due to the
increase in prepayments
for aviation oil
during the reporting
Prepayments 3,151,458 1,136,826 2,014,632 177.22 period.
The impact of disposal
of certain aircraft
Held-for-sale held for sale during
assets 1,451 918,587 (917,136) (99.84) the reporting period.
Mainly due to the
increase in outstanding
VAT credit and
other financial
assets held by
China National
Aviation Finance
Co., Ltd., a subsidiary
of the Company,
Other current during the reporting
assets 5,186,800 3,053,370 2,133,430 69.87 period.
Repayment of short-term
Short-term bonds due during
bonds payable 599,366 5,147,083 (4,547,717) (88.36) the reporting period.
Mainly due to the
increase in enterprise
income taxes payable
Taxes payable 2,425,669 1,361,742 1,063,927 78.13 by the Group.
The impact of the
amount of new loans
raised being less
than the amount
of loans repaid
Long-term during the reporting
loans 8,755,600 12,835,222 (4,079,622) (31.78) period.
The non-public
Capital A share issue during
reserve 26,270,841 16,509,531 9,761,310 59.13 the reporting period.
The decrease in
exchange difference
on translation
of financial statements
in foreign currency
Other comprehensive during the reporting
income (3,236,355) (2,062,598) (1,173,757) (56.91) period.
For the
period
from the
beginning For the
of the corresponding
year to period
the end of the
of the previous
Items reporting year
in consolidated period (January
income (January to Amount Percentage
statement to September) September) of Change (%) Reasons for Change
Mainly due to the increase
in the net exchange gain
during the reporting period
as compared to the corresponding
Finance period of the previous
expenses 66,338 4,636,962 (4,570,624) (98.57) year.
Mainly due to the decrease
in investment income from
joint ventures and associates
recognized during the
reporting period as compared
Investment to the corresponding period
income (252,959) 518,792 (771,751) (148.76) of the previous year.
For the
period
from the
beginning For the
of the corresponding
year to period
the end of the
of the previous
Items reporting year
in consolidated period (January Amount
cash flow (January to of Percentage
statement to September) September) Change (%) Reasons for Change
Mainly due to the increase
in contributions made
and the net amounts of
financial assets held
under resale agreements
by China National Aviation
Finance Co., Ltd., a subsidiary
Other of the Company, during
cash paid the reporting period as
relating compared to the corresponding
to operating period of the previous
activities 7,809,511 5,832,000 1,977,511 33.91 year.
Net cash
proceeds Mainly due to the increase
from disposal in cash inflows from disposal
of fixed of aircraft during the
assets reporting period as compared
and intangible to the corresponding period
assets 2,536,996 530,778 2,006,218 377.98 of the previous year.
Cash paid
for purchase
of fixed Mainly due to the decrease
assets in prepayments and balance
and other payments for the purchase
long-term of aircraft during the
assets 10,143,733 21,208,750 (11,065,017) (52.17) reporting period.
For the
period
from the
beginning For the
of the corresponding
year to period
the end of the
of the previous
Items reporting year
in consolidated period (January Amount
cash flow (January to of Percentage
statement to September) September) Change (%) Reasons for Change
Due to the decrease in
bonds issued during the
Cash received reporting period as compared
from issue to the corresponding period
of debentures 600,000 15,853,964 (15,253,964) (96.22) of the previous year.
Due to the increase in
new borrowings during
the reporting period as
compared to the corresponding
Cash received period of the previous
from borrowings 21,516,462 13,099,369 8,417,093 64.26 year.
Due to raising capital
Cash received by non-public issue of
from capital shares during the reporting
injection 11,201,374 - 11,201,374 100.00 period.
Due to the increase in
repayment of borrowings
during the reporting period
Cash paid as compared to the corresponding
for repayment period of the previous
of borrowings 25,994,065 16,634,786 9,359,279 56.26 year.
3.2 Analysis and explanation on the progress of significant
events and their impact and resolutions
Not applicable
3.3 Undertakings that were failed to fulfill as scheduled during the reporting period
Not applicable
3.4 Warnings and explainations with regard to forecast of a
probable loss in respect of the accumulative net profits from the
beginning of the year to the end of the next reporting period or
any significant changes as compared with that of the corresponding
period of previous year
Not applicable
Air China
Company name Limited
Legal representative Mr. Cai Jianjiang
27 October
Date 2017
4. APPIX
4.1 Financial Statements
Consolidated Balance Sheet
30 September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Balance Balance
at at
the end the beginning
of of the
Items the period year
CURRENT ASSETS:
Cash and bank 12,520,406 7,322,356
Provisions on payables
Contributions made
Financial assets at fair value
through profit or loss 40,351 222
Derivative financial assets
Bills receivable 507 837
Accounts receivable 4,105,726 3,286,091
Prepayments 3,151,458 1,136,826
Premium receivable
Receivables on reinsurance
Provisions for reinsurance contracts
Interest receivable
Dividend receivable
Other receivables 1,841,173 1,923,459
Purchase of financial assets
resold
Inventories 2,137,871 1,680,633
Held-for-sale assets 1,451 918,587
Non-current assets due within
a year 10,000 -
Other current assets 5,186,800 3,053,370
Total current assets 28,995,743 19,322,381
Balance Balance
at at
the end the beginning
of of the
Items the period year
NON-CURRENT ASSETS:
Loans and advances
Available-for-sale financial
assets 1,291,315 1,152,704
Held-to-maturity investments - 10,000
Long-term receivables 869,981 898,845
Long-term equity investments 13,794,007 15,168,760
Investment properties 324,961 337,551
Fixed assets 154,550,365 148,910,057
Construction in progress 30,422,705 29,320,914
Construction materials
Disposal of fixed assets
Biological assets for production
Oil and gas assets
Intangible assets 4,429,450 4,252,314
Development expenses
Goodwill 1,102,185 1,102,185
Long-term deferred expenses 1,092,035 669,414
Deferred tax assets 2,200,934 2,983,067
Other non-current assets
Total non-current assets 210,077,938 204,805,811
Total assets 239,073,681 224,128,192
CURRENT LIABILITIES:
Short-term loans 15,524,160 14,488,948
Borrowings from central bank
Deposits from clients and placements
from other banks
Contributions received
Short-term bonds payable 599,366 5,147,083
Financial liabilities at fair
value through profit or loss
Derivative financial liabilities
Bills payable
Accounts payable 14,854,289 11,775,901
Domestic air traffic liabilities 2,645,353 2,933,845
International air traffic liabilities 3,586,453 3,380,091
Receipts in advance 301,142 181,050
Sale of financial assets repurchased
Fees and commissions payable
Employee compensations payable 2,612,703 2,191,248
Taxes payable 2,425,669 1,361,742
Interest payable 864,252 761,913
Balance Balance
at at
the end the beginning
of of the
Items the period year
Dividend payable
Other payables 8,705,464 8,480,453
Amounts payable on reinsurance
Reserves on insurance contracts
Brokerage payable
Underwriting fees payable
Held-for-sale liabilities
Non-current liabilities due
within a year 15,162,109 13,144,160
Other current liabilities
Total current liabilities 67,280,960 63,846,434
NON-CURRENT LIABILITIES:
Long-term loans 8,755,600 12,835,222
Debentures payable 21,498,774 24,998,024
Including: Preference shares
Perpetual bonds
Long-term payables 3,786,824 3,546,586
Obligations under finance leases 38,283,774 36,295,471
Defined benefit obligations 277,881 269,742
Specific payables
Accrued liabilities 340,200 341,919
Deferred income 3,563,064 3,092,841
Deferred tax liabilities 940,644 2,428,313
Other non-current liabilities
Total non-current liabilities 77,446,761 83,808,118
Total liabilities 144,727,721 147,654,552
Balance Balance
at at
the end the beginning
of of the
Items the period year
OWNER'S EQUITY
Share capital 14,524,815 13,084,751
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 26,270,841 16,509,531
Less: Treasury shares
Other comprehensive income -3,236,355 -2,062,598
Specific reserves
Surplus reserves 8,482,100 7,829,643
General risk provisions 66,709 66,709
Retained earnings 39,510,043 33,448,460
Total owner's equity attributable
to equity
shareholders of the Company 85,618,153 68,876,496
Non-controlling interests 8,727,807 7,597,144
Total owner's equity 94,345,960 76,473,640
Total liabilities and owner's
equity 239,073,681 224,128,192
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Balance Sheet of the Company
30 September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Balance Balance
at at
the end the beginning
of of the
Items the period year
CURRENT ASSETS:
Cash and bank 8,588,632 2,221,952
Financial assets at fair value
through profit or loss
Derivative financial assets
Bills receivable
Accounts receivable 4,546,069 3,028,488
Prepayments 2,685,865 683,229
Interest receivable
Dividend receivable
Other receivables 2,074,987 2,449,640
Inventories 139,312 130,941
Held-for-sale assets - 917,136
Non-current assets due within
a year
Other current assets 1,233,958 829,828
Total current assets 19,268,823 10,261,214
NON-CURRENT ASSETS:
Available-for-sale financial
assets 22,783 22,784
Held-to-maturity investments
Entrusted loans 1,020,000 1,020,000
Long-term receivables 453,420 470,648
Long-term equity investments 27,426,337 26,909,004
Investment properties
Fixed assets 103,565,919 97,170,211
Construction in progress 21,670,613 22,939,247
Construction materials
Disposal of fixed assets
Biological assets for production
Oil and gas assets
Intangible assets 2,786,113 2,555,719
Development expenses
Goodwill
Long-term deferred expenses 746,283 338,712
Deferred tax assets 1,912,083 1,865,409
Other non-current assets
Total non-current assets 159,603,551 153,291,734
Total assets 178,872,374 163,552,948
CURRENT LIABILITIES:
Short-term loans 9,463,000 13,637,422
Short-term bonds payable
Financial liabilities at fair
value through profit or loss
Derivative financial liabilities
Bills payable
Accounts payable 12,985,803 10,286,723
Domestic air traffic liabilities 1,846,882 1,904,317
International air traffic liabilities 3,192,917 3,005,001
Receipts in advance 71,500 87,372
Employee compensations payable 1,086,277 644,294
Taxes payable 1,334,945 857,313
Interest payable 725,423 644,030
Dividend payable
Other payables 6,725,014 6,975,454
Held-for-sale liabilities
Non-current liabilities due
within a year 8,932,249 7,769,333
Other current liabilities
Total current liabilities 46,364,010 45,811,259
NON-CURRENT LIABILITIES:
Long-term loans 1,945,124 3,025,373
Debentures payable 20,500,000 24,000,000
Including: Preference shares
Perpetual bonds
Long-term payables 1,742,293 1,821,218
Obligations under finance leases 24,192,403 22,519,793
Defined benefit obligations
Specific payables
Accrued liabilities 6,041 7,760
Deferred income 2,992,205 2,614,384
Deferred tax liabilities - 102,654
Other non-current liabilities
Total non-current liabilities 51,378,066 54,091,182
Total liabilities 97,742,076 99,902,441
Balance Balance
at at
the end the beginning
of of the
Items the period year
OWNER'S EQUITY:
Issued capital 14,524,815 13,084,751
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 30,618,680 20,857,370
Less: Treasury shares
Other comprehensive income 221,657 198,728
Specific reserves
Surplus reserves 8,444,994 7,792,537
Retained earnings 27,320,152 21,717,121
Total owner's equity 81,130,298 63,650,507
Total liabilities and owner's
equity 178,872,374 163,552,948
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Consolidated Income Statement
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
Amounts of the previous
for the year to year to
corresponding the end the end
Amounts period of the of the
for the of the reporting last reporting
period previous period period
(July year (July (January (January
Items to September) to September) to September) to September)
I. Revenue from operations 34,840,798 31,923,192 92,995,787 85,447,650
Including: Revenue 34,840,798 31,923,192 92,995,787 85,447,650
Interest income
Premium earned
Fees and commission
income
II. Total operating
costs 27,682,152 27,004,261 80,858,571 76,332,038
Including: Operating
costs 25,225,103 23,109,253 72,889,066 64,269,665
Interest expenses
Fees and commission
expenses
Returned premium
Net reimbursement
paid
Net amounts of provisions
on
insurance contracts
drawn
Bonus paid on insurance
policy
Reinsurance premium
Taxes and other levies 61,408 71,544 220,290 208,970
Selling expenses 1,602,751 1,388,155 4,674,386 4,239,408
General and Administrative
expenses 1,028,744 1,086,437 2,984,453 2,982,468
Finance expenses -247,213 1,346,147 66,338 4,636,962
Impairment loss of
assets 11,359 2,725 24,038 -5,435
Add: Gains from changes
in fair value
(loss is represented
by "-" sign) 215 63 304 -47
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
Amounts of the previous
for the year to year to
corresponding the end the end
Amounts period of the of the
for the of the reporting last reporting
period previous period period
(July year (July (January (January
Items to September) to September) to September) to September)
Investment income
(loss is
represented by "-"
sign) 111,062 226,216 -252,959 518,792
Including: Share of
profits less
losses of associates
and
joint ventures 94,281 208,353 -306,567 467,816
Exchange gains
(loss is represented
by "-" sign)
Other income - - 419,589 -
III. Profit from operations
(loss is represented
by "-" sign) 7,269,923 5,145,210 12,304,150 9,634,357
Add: Non-operating
income 114,019 341,732 250,397 906,746
Including: Gains arising
from
disposal of non-current
assets 50,060 39,561 51,461 40,569
Less: Non-operating
expenses 19,445 32,790 35,293 62,025
Including: Loss arising
from
disposal of non-current
assets 2,596 26,847 5,976 33,739
IV. Total profit (total
loss is represented
by "-" sign) 7,364,497 5,454,152 12,519,254 10,479,078
Less: Income Taxation 1,679,317 1,149,778 2,927,601 2,391,003
V. Net profit (net
loss is represented
by "-" sign) 5,685,180 4,304,374 9,591,653 8,088,075
Net profits attributable
to shareholders of
the Company 4,952,088 3,769,087 8,278,508 7,226,708
Net profits attributable
to non-controlling
interests 733,092 535,287 1,313,145 861,367
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
Amounts of the previous
for the year to year to
corresponding the end the end
Amounts period of the of the
for the of the reporting last reporting
period previous period period
(July year (July (January (January
Items to September) to September) to September) to September)
VI. Other comprehensive
income after taxation -472,893 160,320 -1,180,120 1,480,351
Other comprehensive
income after
taxation attributable
to shareholders of
the Company -449,799 148,995 -1,173,758 1,456,924
(I) Other comprehensive
income
that cannot be subsequently
reclassified to profit
or loss - - -13,441 214
1. Change arising
from re-measurement
of net liabilities
or net assets in defined
benefit plans - - -13,441 214
2. Share of other
comprehensive
income of the investees
accounted for using
the equity method
that cannot be reclassified
to profit or loss
(II) Other comprehensive
income that
will be subsequently
reclassified to profit
or loss -449,799 148,995 -1,160,317 1,456,710
1. Share of other
comprehensive income
of the investees accounted
for using the equity
method that will be
subsequently reclassified
to profit or loss - - -133,787 928,326
2. Gains or losses
arising from changes
in fair value of available-for-sale
financial assets -11,087 6,628 30,118 9,548
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
Amounts of the previous
for the year to year to
corresponding the end the end
Amounts period of the of the
for the of the reporting last reporting
period previous period period
(July year (July (January (January
Items to September) to September) to September) to September)
3. Gains or losses
arising from reclassification
of held-to-maturity
investments to
available-for-sale
financial assets
4. Effective portion
of profit or loss
on cash flow hedge
5. Exchange difference
on translation of
financial statements
in foreign currency -438,712 142,367 -1,056,648 518,836
6. Others
Other comprehensive
income after
taxation attributable
to non-controlling
interests -23,094 11,325 -6,362 23,427
VII. Total comprehensive
income 5,212,287 4,464,694 8,411,533 9,568,426
Total comprehensive
income attributable
to shareholders of
the Company 4,502,289 3,918,082 7,104,750 8,683,632
Total comprehensive
income attributable
to non-controlling
interests 709,998 546,612 1,306,783 884,794
VIII. Earnings per
share:
(I) Basic earnings
per share (RMB per
share) 0.37 0.31 0.62 0.59
(II) Diluted earnings
per share (RMB per
share) N/A N/A N/A N/A
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Income Statement of the Company
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
Amounts of the previous
for the year to year to
corresponding the end the end
Amounts period of the of the
for the of the reporting last reporting
period previous period period
(July year (July (January (January
Items to September) to September) to September) to September)
I. Revenue from operations 24,076,193 21,968,535 64,060,120 58,714,178
Less: Operating costs 17,263,149 15,663,304 50,117,799 44,003,631
Taxes and other levies 18,742 10,448 84,836 54,753
Selling expenses 1,148,934 1,039,232 3,448,329 3,134,464
General and Administrative
expenses 446,733 406,034 1,261,209 1,164,331
Finance expenses -19,850 990,764 403,697 3,296,035
Impairment loss of
assets - - 1,991 -5,283
Add: Gains from changes
in fair value
(loss is represented
by "-" sign)
Investment income
(loss is
represented by "-"
sign) 390,299 344,519 809,808 791,169
Including: Share of
profits less
losses of associates
and joint ventures 386,424 342,849 638,111 656,634
Other income
II. Profit from operations
(loss is represented
by "-" sign) 5,608,784 4,203,272 9,552,067 7,857,416
Add: Non-operating
income 71,965 21,223 518,651 541,096
Including: Gains arising
from
disposal of non-current
assets 49,826 55 50,721 169
Less: Non-operating
expenses 3,491 6,700 10,753 18,386
Including: Loss arising
from
disposal of non-current
assets 695 3,447 1,422 7,684
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
Amounts of the previous
for the year to year to
corresponding the end the end
Amounts period of the of the
for the of the reporting last reporting
period previous period period
(July year (July (January (January
Items to September) to September) to September) to September)
III. Total profit
(total loss is represented
by "-" sign) 5,677,258 4,217,795 10,059,965 8,380,126
Less: Income Taxation 1,308,068 915,017 2,240,010 1,796,148
IV. Net profit (net
loss is represented
by "-" sign) 4,369,190 3,302,778 7,819,955 6,583,978
V. Other comprehensive
income after taxation - - 22,929 8,713
(I) Other comprehensive
income that
cannot be subsequently
reclassified to profit
or loss
1. Change arising
from re-
measurement of net
liabilities or net
assets in defined
benefit plans
2. Share of other
comprehensive
income of the investees
accounted for using
the equity method
that cannot be reclassified
to profit or loss
(II) Other comprehensive
income that will
be subsequently reclassified
to profit or loss - - 22,929 8,713
1. Share of other
comprehensive
income of the investees
accounted for using
the equity method
that will be subsequently
reclassified to profit
or loss - - 22,929 8,713
2. Gains or losses
arising from
changes in fair value
of available-for-sale
financial assets
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
Amounts of the previous
for the year to year to
corresponding the end the end
Amounts period of the of the
for the of the reporting last reporting
period previous period period
(July year (July (January (January
Items to September) to September) to September) to September)
3. Gains or losses
arising from
reclassification
of held-to-maturity
investments to available-for-sale
financial assets
4. Effective portion
of profit or loss
on cash flow hedge
5. Exchange difference
on translation
of financial statements
in foreign currency
6. Others
VI. Total comprehensive
income 4,369,190 3,302,778 7,842,884 6,592,691
VII. Earnings per
share:
(I) Basic earnings
per share
(RMB per share)
(II) Diluted earnings
per share
(RMB per share)
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Consolidated Cash Flow Statement
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
of the previous
year to year to
the end the end
of the of the
reporting last reporting
period period
(January (January
Items to September) to September)
I. Cash flows from operating
activities:
Cash received from sales of
goods and provision of services 97,484,664 90,128,015
Net increase in deposits from
clients and placements from
other banks
Net increase in borrowings from
central bank
Net increase in borrowings from
other financial institutions
Cash received from premiums
of original insurance contracts
Net cash receipt from reinsurance
operations
Net increase in reserve of the
insured and investment
Net increase in disposal of
financial assets at fair value
through profit or loss
Cash received from interests,
fees and commission
Net increase in contributions
received
Net increase in cash from repurchase
operations
Refund of tax and levy 22,972 15,127
Other cash received relating
to operating activities 2,557,310 3,103,870
Subtotal of cash inflows of
operating activities 100,064,946 93,247,012
Cash paid for goods purchased
and services received 52,388,593 44,932,237
Net increase in loans and advances
to clients
Net increase in deposits in
central bank and other banks
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
of the previous
year to year to
the end the end
of the of the
reporting last reporting
period period
(January (January
Items to September) to September)
Cash paid in respect of claims
under original insurance contracts
Cash paid for interests, fees
and commission
Cash paid for bonus paid on
insurance policy
Cash paid to or on behalf of
employees 15,770,795 14,129,026
Tax and levies paid 5,235,393 4,345,511
Other cash paid relating to
operating activities 7,809,511 5,832,000
Subtotal of cash outflows from
operating activities 81,204,292 69,238,774
Net cash flows from operating
activities 18,860,654 24,008,238
II. Cash flows from investment
activities:
Cash received from sales and
redemption of investments
Recovery of the secured bank
deposits 4,902 183,769
Cash received from investment
income 218,769 494,403
Net cash proceeds from disposal
of fixed assets, intangible
assets and other long-term assets 2,536,996 530,778
Net cash received for acquisition
of subsidiaries - 28,984
Net cash proceeds from disposal
of subsidiaries and other business
units
Other cash received relating
to investment activities 157,169 81,044
Subtotal of cash inflows from
investment
activities 2,917,836 1,318,978
Cash paid for purchase of fixed
assets, intangible assets and
other long-term assets 10,143,733 21,208,750
Cash paid for investments 118,132 96,342
Net increase in secured loans
Net cash payments for acquisition
of subsidiaries and other business
units
Other cash paid relating to
investment activities 8,382 7,717
Subtotal of cash outflows from
investment
activities 10,270,193 21,312,809
Net cash flows from investment
activities -7,352,357 -19,993,831
Amounts
Amounts for the
for the period
period from the
from the beginning
beginning of the
of the previous
year to year to
the end the end
of the of the
reporting last reporting
period period
(January (January
Items to September) to September)
III. Cash flows from financing
activities:
Cash received from capital injection 11,201,374 -
Including: Cash received from
capital injection of
minority shareholders in subsidiaries
Cash received from borrowings 21,516,462 13,099,369
Cash received from issue of
debentures 600,000 15,853,964
Other cash received relating
to financing activities
Subtotal of cash inflows from
financing
activities 33,317,836 28,953,333
Cash paid for repayment of borrowings 25,994,065 16,634,786
Cash paid for repayment of debentures 5,147,717 6,304,325
Cash paid for distribution of
dividends, profits or payment
of interest expenses 4,184,214 3,772,622
Including: Dividends and profit
paid to minority
shareholders by subsidiaries 176,120 117,592
Other cash paid relating to
financing activities 4,441,728 4,578,502
Subtotal of cash outflows from
financing activities 39,767,724 31,290,235
Net cash flows from financing
activities -6,449,888 -2,336,902
IV. Effect of exchange rate
changes on cash and
cash equivalents -134,197 87,729
V. Net increase in cash and
cash equivalents 4,924,212 1,765,234
Add: Balance of cash and cash
equivalents as at
the beginning of the period 6,848,018 7,138,098
VI. Balance of cash and cash
equivalents as at the
end of the period 11,772,230 8,903,332
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
Cash Flow Statement of the Company
January to September 2017
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
Amounts
for the Amounts for the
period from period from the
the beginning beginning of
of the year the previous
to the end year to the end
of the reporting of the last reporting
period (January period (January
Items to September) to September)
I. Cash flows from operating
activities:
Cash received from sales of
goods and provision of services 65,256,623 60,505,240
Refund of tax and levies - 1,183
Other cash received relating
to operating activities 1,975,711 1,723,740
Subtotal of cash inflows of
operating activities 67,232,334 62,230,163
Cash paid for goods purchased
and services received 38,521,178 32,440,751
Cash paid to or on behalf of
employees 7,282,311 6,311,630
Tax and levies paid 3,211,344 2,948,135
Other cash paid relating to
operating activities 4,565,204 4,184,803
Subtotal of cash outflows from
operating activities 53,580,037 45,885,319
Net cash flows from operating
activities 13,652,297 16,344,844
II. Cash flows from investment
activities:
Cash received from sales and
redemption of investments
Cash received from investment
income 402,223 283,042
Net cash proceeds from disposal
of fixed assets, intangible
assets and other long-term assets 917,646 479,764
Net cash proceeds from disposal
of subsidiaries and other business
units
Amounts
for the Amounts for the
period from period from the
the beginning beginning of
of the year the previous
to the end year to the end
of the reporting of the last reporting
period (January period (January
Items to September) to September)
Other cash received relating
to investment activities 82,256 51,339
Subtotal of cash inflows from
investment
activities 1,402,125 814,145
Cash paid for purchase of fixed
assets, intangible assets and
other long-term assets 5,495,017 18,409,054
Cash paid for investments
Net cash payments for acquisition
of subsidiaries and other business
units
Other cash paid relating to
investment activities
Subtotal of cash outflows from
investment activities 5,495,017 18,409,054
Net cash flows from investment
activities -4,092,892 -17,594,909
III. Cash flows from financing
activities:
Cash received from capital injection 11,201,374 -
Cash received from borrowings 11,767,567 12,547,842
Cash received from issue of
debentures - 11,200,000
Other cash received relating
to financing activities
Subtotal of cash inflows from
financing
activities 22,968,941 23,747,842
Cash paid for repayment of borrowings 19,548,222 12,897,193
Cash paid for repayment of debentures - 4,200,000
Cash paid for distribution of
dividends, profits or payment
of interest expenses 3,186,951 2,978,716
Other cash paid relating to
financing activities 3,365,810 3,622,865
Subtotal of cash outflows from
financing activities 26,100,983 23,698,774
Net cash flows from financing
activities -3,132,042 49,068
Amounts
for the Amounts for the
period from period from the
the beginning beginning of
of the year the previous
to the end year to the end
of the reporting of the last reporting
period (January period (January
Items to September) to September)
IV. Effect of exchange rate
changes on cash and
cash equivalents -60,683 39,708
V. Net increase in cash and
cash equivalents 6,366,680 -1,161,289
Add: Balance of cash and cash
equivalents as at
the beginning of the period 2,221,952 3,223,977
VI. Balance of cash and cash
equivalents as at the end of
the period 8,588,632 2,062,688
Legal representative: Mr. Cai Jianjiang
Person in charge of accounting function: Mr. Xiao Feng
Person in charge of accounting department: Mr. Zhan Zhong
4.2 Auditor's Report
Not applicable
By order of the Board
Air China Limited
Zhou Feng Tam Shuit Mui
Joint Company Secretaries
Beijing, the PRC, 27 October 2017
As at the date of this announcement, the directors of the
Company are Mr. Cai Jianjiang, Mr. Song Zhiyong, Mr. John Robert
Slosar, Mr. Wang Xiaokang*, Mr. Liu Deheng*, Mr. Stanley Hui
Hon-chung* and Mr. Li Dajin*.
* Independent non-executive director of the Company
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTEALEEDESXFEF
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