28th Oct 2009 07:00
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.
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 753)
THIRD QUARTERLY REPORT 2009
This announcement is made pursuant to Rule 13.09 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") hereby announces that a meeting of the Board was held on 27 October 2009 and the Board passed, inter alia, the resolution approving the quarterly report for the third quarter of 2009 prepared in accordance with the PRC Accounting Rules and Regulations.
§1 IMPORTANT NOTICE
1.1 The Board, the Supervisory Committee, as well as the directors, supervisors and senior management of the Company hereby warrant that there are no false representations, misleading statements or material omissions in this report, and jointly and severally accept full responsibility for the truthfulness, accuracy and completeness of the contents of this quarterly report.
1.2 The Chairman of the Company Mr. Kong Dong was unable to attend the Board meeting due to a business engagement and appointed Vice Chairman Ms. Wang Yinxiang to attend and vote on his behalf. Director Mr. Christopher Dale Pratt was unable to attend the Board meeting due to a business engagement and appointed Director Mr. Chen Nan Lok, Philip to attend and vote on his behalf. Independent Director Mr. Hu Hung Lick, Henry was unable to attend the Board meeting due to a business engagement and appointed Independent Director Mr. Zhang Ke to attend and vote on his behalf. Independent Director Mr. Jia Kang was unable to attend the Board meeting due to a business engagement and appointed Independent Director Mr. Fu Yang to attend and vote on his behalf.
1.3 This Third Quarterly Financial Report of the Company is unaudited.
1.4 The Legal representative of the Company Mr. Kong Dong, Person in charge of accounting function Mr. Fan Cheng, and Person in charge of accounting department Mr. Li Youqiang hereby jointly declare that the financial statements set out in this quarterly report is true and complete.
§2 BASIC INFORMATION OF THE COMPANY
2.1 Major accounting data and financial ratios
|
In RMB |
|||
|
At the end of the reporting period |
At the end of pervious year |
Increase/ decrease at the end of the reporting period as compared to the end of the pervious year |
|
|
(%) |
|||
|
Total assets (RMB'000) |
101,959,366 |
98,897,743 |
3.10 |
|
Owner's equity (or shareholders' equity) |
23,605,019 |
19,773,890 |
19.37 |
|
Net asset per share attributable to shareholders of the listed company (RMB) |
1.99 |
1.67 |
19.16 |
|
From the beginning of the year to the end of the reporting period (January to September) |
Increase/ Decrease over the corresponding period of previous year |
|
|
(%) |
||
|
Net cash flow from operating activities (RMB'000) |
4,753,513 |
9.97 |
|
Net cash flow from operating activities per share (RMB) |
0.40 |
11.11 |
|
Reporting period (July to September) |
From the beginning of the year to the end of the reporting period (January to September) |
Increase/ decrease of this reporting period as compared to the corresponding period of previous year |
|
|
(%) |
|||
|
Net profit attributable to shareholders of the listed company (RMB'000) |
885,298 |
3,810,947 |
144.90 |
|
Basic earnings per share (RMB) |
0.07 |
0.32 |
141.18 |
|
Basic earnings per share after deducting non-recurring gains and losses (RMB) |
0.04 |
0.06 |
134.56 |
|
Diluted earnings per share (RMB) |
N/A |
N/A |
N/A |
|
Fully diluted return on net assets (%) |
3.75 |
16.14 |
Increased by 10.51 percentage points |
|
Fully diluted return on net assets after deducting non-recurring gains and losses (%) |
1.83 |
3.62 |
Increased by 1.88 percentage points |
Items and data deducting non-recurring gains and losses
|
Non-recurring gain and loss items |
From the beginning of the year to the end of the reporting period (January to September) |
|
(RMB'000) |
|
|
Gains and losses from disposal of non-current assets |
16,188 |
|
Government grants (except for the government grants which are closely related to the Company's normal operating business and qualified under national policy to receive certain standard amounts and quantities) accounted for as gains and losses for the period |
962,297 |
|
Gain/(loss) from changes in fair value of trading financial assets/ liabilities and investing income from disposal of trading financial assets/liabilities and available-for-sale financial assets (except for hedging activities related to the Company's normal operating business) |
2,074,712 |
|
Other non-operating income and expenses apart from those stated above |
13,326 |
|
Effect on minority interest |
-5,795 |
|
Effect of income tax |
34,656 |
|
|
|
|
Total |
3,095,384 |
|
|
2.2 Total number of shareholders and top 10 holders of listed shares not subject to trading moratorium as at the end of the reporting period
|
Unit: Share |
|
|
Total number of shareholders at the end of the reporting period |
430,104 (among which 5,953 of H Shares) |
Particulars of the top 10 holders of listed shares not subject
to trading moratorium
|
Name of shareholder (full name) |
Number of listed Shares not subject to trading moratorium held as at period end |
Class of Shares |
|
China National Aviation Holding Company |
4,949,066,567 |
RMB ordinary shares |
|
Cathay Pacific Airways Limited |
2,217,617,455 |
Overseas listed foreign shares |
|
HKSCC NOMINEES LIMITED |
2,084,087,904 |
Overseas listed foreign shares |
|
China National Aviation Corporation (Group) Limited |
1,380,482,920 |
RMB ordinary shares |
|
66,852,000 |
Overseas listed foreign shares |
|
|
Sinotrans Air Transportation Development Co., Ltd. |
80,000,000 |
RMB ordinary shares |
|
China Construction Bank - Yin Hua Core Value Equity Fund |
40,002,969 |
RMB ordinary shares |
|
Industrial and Commercial Bank of China - JianXin Optimal Allocation Mixed Investment Fund |
24,071,625 |
RMB ordinary shares |
|
China Life Insurance Company Limited - Dividend Payout - Individual Dividend Payout - 005L - FH002 Shanghai |
18,106,136 |
RMB ordinary shares |
|
Bank of Communications - Rongtong Industrial Prosperity Fund |
16,491,297 |
RMB ordinary shares |
|
Industrial and Commercial Bank of China - China Southern Component Selected Stock Securities Investment Fund |
16,126,016 |
RMB ordinary shares |
§3 SIGNIFICANT EVENTS
3.1 Significant changes of the principal accounting statements and financial indicators and reasons thereof
☑ Applicable ☐Not applicable
|
Item |
Change in % |
Reason for the change |
|
Trading financial liabilities |
-61.43% |
Decrease in the loss of fair value of the outstanding financial derivatives contracts as at 30 September 2009. |
|
Debentures payable |
200% |
Due to the issue of RMB6 billion medium term notes in the first half of year 2009. |
|
Finance expenses |
240.8% |
As a result of exchange rate changes, exchange gains of January to September 2009 dropped by RMB2 billion compared to the corresponding period of last year. |
|
Gains from changes in fair value |
439.42% |
As a result of increase in international fuel prices, gain on changes in fair value of financial derivatives is RMB2.075 billion, of which RMB2.015 billion is the gain on changes in fair value of the fuel derivative contracts (the recovery in fair value of RMB4.664 billion and the decrease in fair value of RMB2.649 billion resulted from the settlement of financial derivatives contracts). |
|
Item |
Change in % |
Reason for the change |
|
Investment income |
208.42% |
Mainly due to the increase in profits of the associates of air traffic business as compared to the corresponding period of last year. |
|
Non-operating income |
351.73% |
Recognition revenue of RMB824 million from the refund of CAAC Infrastructure Development Fund mainly in the first half of year 2009. |
3.2 Analysis and explanation on the progress of significant events and their impact and resolutions
☐Applicable ☑ Not applicable
3.3 Performance of undertakings given by the Company, the shareholders and actual controller
☐Applicable ☑ Not applicable
3.4 Warning in respect of forecast of possible net loss from the beginning of the year to the end of the next Reporting Period or warning in respect of any significant changes in net profit as compared with that of the corresponding period of previous year and the reasons therefore
☐ Applicable ☑ Not applicable
Air China Limited
Legal representative: Kong Dong
27 October 2009
§4 APPENDIX
4.1 Consolidated Balance Sheet
30 September 2009
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
CURRENT ASSETS: |
||
|
Cash and bank balances |
4,575,296 |
4,663,792 |
|
Provisions on payables |
||
|
Contributions received |
||
|
Trading financial assets |
253,406 |
|
|
Bills receivable |
1,516 |
1,604 |
|
Accounts receivable |
2,450,979 |
2,074,178 |
|
Prepayments |
312,577 |
309,945 |
|
Premium receivable |
||
|
Receivables on reinsurance |
||
|
Provisions for reinsurance contracts |
||
|
Interests receivable |
||
|
Dividends receivable |
||
|
Other receivables |
1,105,852 |
1,110,524 |
|
Purchase of financial assets resold |
||
|
Inventories |
839,729 |
812,941 |
|
Non-current assets due within a year |
||
|
Other current assets |
||
|
Total current assets |
9,285,949 |
9,226,390 |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
NON-CURRENT ASSETS: |
||
|
Loans and advances |
||
|
Available-for-sale financial assets |
||
|
Held-to-maturity investment |
||
|
Long-term receivables |
269,711 |
231,586 |
|
Long-term equity investment |
8,020,064 |
7,323,075 |
|
Investment property |
||
|
Fixed assets |
68,017,464 |
66,244,815 |
|
Construction in progress |
11,757,754 |
10,887,225 |
|
Construction materials |
||
|
Disposal of fixed assets |
||
|
Biological assets for production |
||
|
Oil and gas assets |
||
|
Intangible assets |
2,546,596 |
2,563,887 |
|
Development expenses |
||
|
Goodwill |
349,055 |
349,055 |
|
Long-term deferred expenses |
125,427 |
141,601 |
|
Deferred income tax assets |
1,587,346 |
1,930,109 |
|
Other non-current assets |
||
|
Total non-current assets |
92,673,417 |
89,671,353 |
|
Total assets |
101,959,366 |
98,897,743 |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
CURRENT LIABILITIES: |
||
|
Short-term borrowings |
7,193,487 |
9,379,700 |
|
Borrowings from central bank |
||
|
Deposits from clients and placements from other banks |
||
|
Contributions made |
||
|
Trading financial liabilities |
2,980,381 |
7,727,918 |
|
Bills payable |
1,333,819 |
1,493,815 |
|
Accounts payable |
7,524,941 |
7,792,638 |
|
Domestic air traffic liabilities |
978,343 |
744,804 |
|
International air traffic liabilities |
1,564,822 |
1,517,530 |
|
Advances from customers |
35,349 |
56,022 |
|
Sale of financial assets repurchased |
||
|
Fees and commissions payable |
||
|
Salaries and wages payable |
201,062 |
163,918 |
|
Taxes payable |
301,892 |
300,198 |
|
Interests payable |
243,507 |
303,066 |
|
Dividend payable |
||
|
Other payables |
3,462,139 |
3,030,210 |
|
Amounts payable on reinsurance |
||
|
Provisions on insurance contracts |
||
|
Brokerage payable |
||
|
Underwriting fees payable |
||
|
Non-current liabilities due within a year |
12,984,103 |
10,186,078 |
|
Other current liabilities |
||
|
Total current liabilities |
38,803,845 |
42,695,897 |
|
NON-CURRENT LIABILITIES: |
||
|
Long-term borrowings |
10,834,258 |
14,109,828 |
|
Debentures payable |
9,000,000 |
3,000,000 |
|
Long-term payables |
1,344,099 |
1,307,706 |
|
Obligations under finance leases |
16,632,525 |
16,480,784 |
|
Specific payables |
||
|
Estimated liabilities |
91,444 |
112,754 |
|
Deferred income |
1,009,541 |
689,232 |
|
Deferred income tax liabilities |
189,745 |
214,000 |
|
Other non-current liabilities |
||
|
Total non-current liabilities |
39,101,612 |
35,914,304 |
|
Total liabilities |
77,905,457 |
78,610,201 |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
SHAREHOLDERS' EQUITY: |
||
|
Equity |
12,251,362 |
12,251,362 |
|
Capital surplus |
11,709,845 |
11,676,739 |
|
Less: Treasury shares |
||
|
Surplus reserves |
1,563,914 |
1,563,914 |
|
General risk provisions |
||
|
Profit available for appropriation |
-296,656 |
-4,107,603 |
|
Foreign exchange translation reserve |
-1,623,446 |
-1,610,522 |
|
Total equities attributable to owners of the Company |
23,605,019 |
19,773,890 |
|
Minority interests |
448,890 |
513,652 |
|
Total shareholders' equity |
24,053,909 |
20,287,542 |
|
Total liabilities and shareholders' equity |
101,959,366 |
98,897,743 |
Legal representative of the Company: Kong Dong
Person in charge of accounting function: Fan Cheng
Person in charge of accounting department: Li Youqiang
Balance Sheet of the Company
30 September 2009
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
CURRENT ASSETS: |
||
|
Cash and bank balances |
1,616,715 |
1,511,221 |
|
Trading financial assets |
253,406 |
|
|
Bills receivable |
787 |
965 |
|
Accounts receivable |
2,328,278 |
1,941,404 |
|
Prepayments |
178,501 |
261,822 |
|
Interests receivable |
||
|
Dividends receivable |
||
|
Other receivables |
1,240,957 |
1,422,428 |
|
Inventories |
763,124 |
741,916 |
|
Non-current assets due within a year |
||
|
Other current assets |
||
|
Total current assets |
6,128,362 |
6,133,162 |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
NON-CURRENT ASSETS: |
||
|
Available-for-sale financial assets |
||
|
Held-to-maturity investment |
||
|
Long-term receivables |
200,931 |
166,690 |
|
Long-term equity investment |
14,009,722 |
13,534,419 |
|
Investment property |
||
|
Fixed assets |
64,021,030 |
62,712,454 |
|
Construction in progress |
11,124,993 |
10,072,643 |
|
Construction materials |
||
|
Disposal of fixed assets |
||
|
Biological assets for production |
||
|
Oil and gas assets |
||
|
Intangible assets |
2,163,709 |
2,181,481 |
|
Development expenses |
||
|
Goodwill |
||
|
Long-term deferred expenses |
118,744 |
133,707 |
|
Deferred income tax assets |
1,545,174 |
1,890,000 |
|
Other non-current assets |
||
|
Total non-current assets |
93,184,303 |
90,691,394 |
|
Total assets |
99,312,665 |
96,824,556 |
|
CURRENT LIABILITIES: |
||
|
Short-term borrowings |
7,033,870 |
9,201,444 |
|
Trading financial liabilities |
2,980,381 |
7,727,918 |
|
Bills payable |
731,882 |
1,493,815 |
|
Accounts payable |
6,560,094 |
6,817,030 |
|
Domestic air traffic liabilities |
976,215 |
739,247 |
|
International air traffic liabilities |
1,435,720 |
1,411,075 |
|
Advances from customers |
34,768 |
35,152 |
|
Salaries and wages payable |
150,799 |
113,413 |
|
Taxes payable |
287,397 |
290,579 |
|
Interests payable |
235,895 |
301,088 |
|
Dividend payable |
||
|
Other payables |
2,801,929 |
2,402,427 |
|
Non-current liabilities due within a year |
12,792,571 |
10,048,877 |
|
Other current liabilities |
||
|
Total current liabilities |
36,021,521 |
40,582,065 |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
Items |
Balance at the end of the period |
Balance at the beginning of the year |
|
NON-CURRENT LIABILITIES: |
||
|
Long-term borrowings |
9,371,157 |
12,855,636 |
|
Debentures payable |
9,000,000 |
3,000,000 |
|
Long-term payables |
1,059,922 |
1,017,791 |
|
Obligations under finance leases |
16,632,525 |
16,480,784 |
|
Specific payables |
||
|
Estimated liabilities |
91,445 |
112,754 |
|
Deferred income |
995,421 |
681,001 |
|
Deferred income tax liabilities |
180,000 |
214,000 |
|
Other non-current liabilities |
||
|
Total non-current liabilities |
37,330,470 |
34,361,966 |
|
Total liabilities |
73,351,991 |
74,944,031 |
|
SHAREHOLDERS' EQUITY: |
||
|
Equity |
12,251,362 |
12,251,362 |
|
Capital surplus |
14,331,111 |
14,334,111 |
|
Less: Treasury shares |
||
|
Surplus reserves |
1,554,324 |
1,554,324 |
|
Profit available for appropriation |
-2,176,123 |
-6,259,272 |
|
Foreign exchange translation reserve |
||
|
Total shareholders' equity |
25,960,674 |
21,880,525 |
|
Total liabilities and shareholders' equity |
99,312,665 |
96,824,556 |
Legal representative of the Company: Kong Dong
Person in charge of accounting function: Fan Cheng
Person in charge of accounting department: Li Youqiang
4.2 Consolidated Income Statement
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Amounts for the period (July to September) |
Amounts for the Corresponding period of Previous year (July to September) |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
I. |
Revenue from operations |
14,054,335 |
13,872,973 |
36,459,360 |
39,539,498 |
|
Including: Operating income |
14,054,335 |
13,872,973 |
36,459,360 |
39,539,498 |
|
|
Interest income |
|||||
|
Premium earned |
|||||
|
Fees and commission income |
|||||
|
II. |
Total operating cost |
13,489,300 |
15,093,752 |
35,940,774 |
40,105,297 |
|
Including: Operating costs |
11,282,767 |
13,323,677 |
30,258,540 |
36,457,808 |
|
|
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 |
|||||
|
Business taxes and other surcharges |
358,351 |
338,713 |
902,014 |
962,509 |
|
|
Selling expenses |
1,035,453 |
762,151 |
2,675,877 |
2,339,678 |
|
|
Administrative expenses |
442,989 |
356,632 |
1,127,805 |
1,029,935 |
|
|
Finance expenses |
369,740 |
302,789 |
976,538 |
-693,543 |
|
|
Impairment loss of assets |
9,790 |
8,910 |
|||
|
Add: Gains from changes in fair value (loss is represented by "-" sign) |
553,634 |
-899,553 |
2,074,712 |
-611,245 |
|
|
Investment income (loss is represented by "-" sign) |
149,142 |
-261,115 |
460,267 |
149,233 |
|
|
Including: Gains arising from investments in associated companies and joint ventures |
149,156 |
-261,390 |
460,281 |
-327,848 |
|
|
Exchange gains (loss is represented by "-" sign) |
|||||
|
III. |
Profit from operations (loss is represented by "-" sign) |
1,267,811 |
-2,381,447 |
3,053,565 |
-1,027,811 |
|
Add: Non-operating income |
50,901 |
75,803 |
1,003,745 |
222,202 |
|
|
Less: Non-operating expenses |
3,511 |
7,016 |
11,934 |
142,124 |
|
|
Including: Net loss arising from disposal of non-current assets |
1,370 |
1,683 |
5,618 |
20,643 |
|
|
IV. |
Total profit (loss is represented by "-" sign) |
1,315,201 |
-2,312,660 |
4,045,376 |
-947,733 |
|
Less: Income tax expenses |
450,044 |
-292,701 |
315,544 |
-752 |
|
|
V. |
Net profit (loss is represented by "-" sign) |
865,157 |
-2,019,959 |
3,729,832 |
-946,981 |
|
Net profits attributable to owners of Company |
885,298 |
-1,971,531 |
3,810,947 |
-806,061 |
|
|
Net profits or losses attributable to minority interests |
-20,141 |
-48,428 |
-81,115 |
-140,920 |
|
|
VI. |
Earnings per share: |
||||
|
(I) Basic |
0.07 |
-0.17 |
0.32 |
-0.07 |
|
|
(II) Diluted |
N/A |
N/A |
N/A |
N/A |
|
Legal representative of the Company: Kong Dong
Person in charge of accounting function: Fan Cheng
Person in charge of accounting department: Li Youqiang
Income Statement of the Company
Prepared by Air China Limited
Unit: RMB'000 (Unaudited)
|
Items |
Amounts for the period (July to September) |
Amounts for the Corresponding period of Previous year (July to September) |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
I. |
Revenue from operations |
12,882,230 |
12,180,423 |
33,877,373 |
34,651,361 |
|
Less: Operating cost |
10,253,905 |
11,715,439 |
27,479,107 |
31,760,140 |
|
|
Business taxes and other surcharges |
341,480 |
313,917 |
870,432 |
885,730 |
|
|
Selling expenses |
980,165 |
728,606 |
2,570,606 |
2,215,763 |
|
|
Administrative expenses |
352,098 |
263,114 |
869,517 |
742,813 |
|
|
Finance expenses |
371,080 |
305,309 |
956,124 |
-606,507 |
|
|
Impairment loss of assets |
|||||
|
Add: Gains from changes in fair value (loss is represented by "-"sign) |
553,634 |
-904,034 |
2,074,712 |
-601,993 |
|
|
Investment income (loss is represented by "-" sign) |
148,879 |
-16,485 |
235,096 |
18,304 |
|
|
Including: Investment income from associates and joint ventures |
148,879 |
-16,486 |
235,096 |
18,246 |
|
|
II. |
Profit from operations (loss is represented by "-" sign) |
1,286,015 |
-2,066,481 |
3,441,395 |
-930,267 |
|
Add: Non-operating income |
45,224 |
62,254 |
969,481 |
205,493 |
|
|
Less: Non-operating expenses |
3,420 |
6,851 |
9,993 |
141,522 |
|
|
Including: Net loss on disposal of non-current assets |
1,289 |
1,559 |
3,712 |
20,510 |
|
|
III. |
Total profit (loss is represented by "-" sign) |
1,327,819 |
-2,011,078 |
4,400,883 |
-866,296 |
|
Less: Income tax expenses |
341,826 |
-310,262 |
310,826 |
-28,127 |
|
|
IV. |
Net profit (loss is represented by "-" sign) |
985,993 |
-1,700,816 |
4,090,057 |
-838,169 |
Legal representative of the Company: Kong Dong
Person in charge of accounting function: Fan Cheng
Person in charge of accounting department: Li Youqiang
4.3 Consolidated Cash Flow Statement
January to September 2009
Prepared by Air China Limited
Unit: RMB (Unaudited)
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
I. |
Cash flows from operating activities: |
||
|
Cash received from sales of goods, provision of services |
35,634,387 |
39,023,445 |
|
|
Net increase in deposits from clients and placements from other banks |
|||
|
Net increase in borrowings from central bank |
|||
|
Net increase in contributions made to 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 trading financial assets |
|||
|
Cash received from interests, fees and commission |
|||
|
Net increase in contributions |
|||
|
Net increase in cash from repurchase operations |
|||
|
Refund of tax and levy |
41,314 |
36,747 |
|
|
Other cash received relating to operating activities |
1,670,621 |
1,005,724 |
|
|
Subtotal of cash inflows of operating activities |
37,346,322 |
40,065,916 |
|
|
Cash paid for goods purchased, services rendered |
21,205,921 |
26,439,750 |
|
|
Net increase in loans and advances to clients |
|||
|
Net increase in deposits to central bank and to other banks |
|||
|
Cash payment of claims under original insurance contracts |
|||
|
Cash payment of interests, fees and commission |
|||
|
Cash payment of bonus paid to insurance policy |
|||
|
Cash paid to or on behalf of employees |
3,825,954 |
3,365,686 |
|
|
Tax paid |
1,562,484 |
2,678,664 |
|
|
Other cash paid in relation to operating activities |
5,998,450 |
3,259,388 |
|
|
Subtotal of cash outflows of operating activities |
32,592,809 |
35,743,488 |
|
|
Net cash flows from operating activities |
4,753,513 |
4,322,428 |
|
|
II. |
Cash flows from investing activities: |
||
|
Cash received from investments |
|||
|
Cash from investment income |
14,880 |
418,832 |
|
|
Net cash from disposal of fixed assets, intangible assets and other long-term assets |
213,377 |
928,165 |
|
|
Net cash from disposal of subsidiaries and other business units |
|||
|
Other cash received from investing activities |
2,383,381 |
722,983 |
|
|
Subtotal of cash inflows of investment activities |
2,611,638 |
2,069,980 |
|
|
Cash paid to purchase of fixed assets, intangible assets and other long-term assets |
4,574,223 |
5,753,416 |
|
|
Cash paid to investments |
265,200 |
978,502 |
|
|
Net increase in pledged loans |
|||
|
Net cash from subsidiaries and other business units |
|||
|
Cash payments relating to other investments |
|||
|
Subtotal of cash outflows of investment activities |
4,839,423 |
6,731,918 |
|
|
Net cash flows from investing activities |
-2,227,785 |
-4,661,938 |
|
|
III. |
Cash flows from financing activities: |
||
|
Cash received from investments |
|||
|
Including: Cash received from investments of minority shareholders through subsidiaries |
|||
|
Cash received from borrowings |
23,620,857 |
14,375,233 |
|
|
Cash received from issue of debentures |
|||
|
Other cash relating to financing activities |
|||
|
Subtotal of cash inflows of financing activities |
23,620,857 |
14,375,233 |
|
|
Cash repaid to amounts borrowed |
19,392,411 |
9,303,104 |
|
|
Cash payments for distribution of dividends, profits or interest expenses |
1,142,801 |
2,147,033 |
|
|
Including: Dividends and profit paid to minority shareholders by subsidiaries |
|||
|
Other cash payments relating to financing activities |
3,935,761 |
2,232,407 |
|
|
Subtotal of cash outflows of financing activities |
24,470,973 |
13,682,544 |
|
|
Net cash flows from financing activities |
-850,116 |
692,689 |
|
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
IV. |
Effect of exchange rate changes on cash and cash equivalents |
-14,816 |
-81,241 |
|
V. |
Net increase in cash and cash equivalents |
1,660,796 |
271,938 |
|
Add: Balance of cash and cash equivalents at the beginning of the period |
2,913,332 |
3,668,528 |
|
|
VI. |
Balance of cash and cash equivalents at the end of the period |
4,574,128 |
3,940,466 |
Legal representative of the Company: Kong Dong
Person in charge of accounting function: Fan Cheng
Person in charge of accounting department: Li Youqiang
Cash Flow Statement of the Company
January to September 2009
Prepared by Air China Limited
Unit: RMB (Unaudited)
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
I. |
Cash flows from operating activities: |
||
|
Cash received from sales of goods, provision of services |
33,506,746 |
34,326,429 |
|
|
Refund of tax and levy |
41,314 |
36,747 |
|
|
Other cash received relating to operating activities |
1,557,009 |
739,139 |
|
|
Subtotal of cash inflows of operating activities |
35,105,069 |
35,102,315 |
|
|
Cash paid for goods purchased, services rendered |
20,703,724 |
22,927,025 |
|
|
Cash paid to and on behalf of employees |
2,989,528 |
2,934,260 |
|
|
Taxes paid |
1,522,522 |
2,552,144 |
|
|
Other cash paid in relation to operating activities |
5,279,007 |
2,569,851 |
|
|
Subtotal of cash outflows of operating activities |
30,494,781 |
30,983,280 |
|
|
Net cash flows from operating activities |
4,610,288 |
4,119,035 |
|
|
II. |
Cash flows from investing activities: |
||
|
Cash received from investments |
|||
|
Cash from investment income |
6,632 |
1,053 |
|
|
Net cash from disposal of fixed assets, intangible assets and other long-term assets |
415,945 |
51,388 |
|
|
Net cash from disposal of subsidiaries and other business units |
|||
|
Other cash received from investing activities |
655,967 |
395,759 |
|
|
Subtotal of cash inflows of investment activities |
1,078,544 |
448,200 |
|
|
Cash paid to purchase of fixed assets, intangible assets and other long-term assets |
4,354,376 |
5,156,863 |
|
|
Cash paid for investments |
273,405 |
121,498 |
|
|
Net cash from subsidiaries and other business units |
|||
|
Cash payments relating to other investments |
|||
|
Subtotal of cash outflows of investment activities |
4,627,781 |
5,278,361 |
|
|
Net cash flows from investing activities |
-3,549,237 |
-4,830,161 |
|
|
III. |
Cash flows from financing activities: |
||
|
Cash received from investments |
|||
|
Cash received from borrowings |
23,120,884 |
14,200,165 |
|
|
Other cash relating to financing activities |
|||
|
Subtotal of cash inflows of financing activities |
23,120,884 |
14,200,165 |
|
|
Cash repaid to amounts borrowed |
19,127,756 |
9,268,735 |
|
|
Cash payments for distribution of dividends, profits or interest expenses |
1,006,587 |
2,121,079 |
|
|
Other cash payments relating to financing activities |
3,935,761 |
2,232,406 |
|
|
Subtotal of cash outflows of financing activities |
24,070,104 |
13,622,220 |
|
|
Net cash flows from financing activities |
-949,220 |
577,945 |
|
|
IV. |
Effect of exchange rate changes on cash and cash equivalents |
-4,063 |
-56,086 |
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
Items |
Amounts for the period from the beginning of the year to the end of the reporting period (January to September) |
Amounts for the period from the beginning of the previous year to the end of the previous reporting period (January to September) |
|
|
V. |
Net increase in cash and cash equivalents |
107,768 |
-189,267 |
|
Add: Balance of cash and cash equivalents at the beginning of the period |
1,508,947 |
1,348,887 |
|
|
VI. |
Balance of cash and cash equivalents at the end of the period |
1,616,715 |
1,159,620 |
Legal representative of the Company: Kong Dong
Person in charge of accounting function: Fan Cheng
Person in charge of accounting department: Li Youqiang
By order of the Board
Air China Limited
Huang Bin Tam Shuit Mui
Joint Company Secretaries
Beijing, PRC, 27 October 2009
As at the date of this announcement, the Directors of the Company are Mr. Kong Dong, Ms. Wang Yinxiang, Mr. Wang Shixiang, Mr. Cao Jianxiong, Mr. Christopher Dale Pratt, Mr. Chen Nan Lok, Philip, Mr. Cai Jianjiang, Mr. Fan Cheng, Mr. Hu Hung Lick, Henry*, Mr. Zhang Ke*, Mr. Jia Kang* and Mr. Fu Yang*.
* Independent non-executive Director of the Company
Related Shares:
Air China