山航Ｂ：2019年年度报告摘要（英文版）.PDF

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1、 Shandong Airlines Co., Ltd. Summary of Annual Report 2019 1 Shandong Airlines Co., Ltd. Summary of Annual Report 2019 I. Important Notice The summary is abstract from full-text of annual report, for more details of operating results, financial condition and future development plan of the Company; i

2、nvestors should found in the full-text of annual report that published on media appointed by CSRC. Prompt of non-standard audit opinion Applicable Not applicable The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either Profit distr

3、ibution pre-plan of preferred stock deliberated and approved by the Board in the reporting period Applicable Not applicable II. Basic information of the company 1. Company profile Short form of the stock Shanhang-B Stock code 200152 Stock exchange for listing Shenzhen Stock Exchange Person/Way to co

4、ntact Secretary of the Board Rep. of security affairs Name Dong Qiantang Fan Peng Office add. 1/F, Tiangong Office Building, North of Red-crowed cranes Hotel, Yaoqiang International Airlines, Licheng District, Jinan, Shandong 3/F, Tiangong Office Building, North of Red-crowed cranes Hotel, Yaoqiang

5、International Airlines, Licheng District, Jinan, Shandong Fax. 0531-85698034 0531-85698034 Tel. 0531-82085939 0531-82085586 E-mail dongqt fanp 2. Main business or product introduction in the reporting period The Company is mainly engaged in international and domestic air passenger and cargo transpor

6、tation business; hotel catering; aircraft maintenance; civil aviation personnel training; insurance agency; airline agency business; ground services related to main business; sales of aviation materials, general merchandise, food, health foods, handicrafts, souvenirs, etc., and retail sales of tobac

7、co; leasing of aviation materials; leasing of premises, rental of houses; business services; hotel accommodation agents and ticket agents; conference services; transport agency services, air cargo storage; and labor services. Among them, international and domestic air passenger and cargo transportat

8、ion business is the Companys main business. For more than 20 years, the Company has always been giving first priority to “ensure safety, pay close attention to efficiency, and strive to punctuality and quality service”. As of the end of 2019, the Company has 124 airplanes of Boeing B737 series, and

9、striding into the ranks of large airlines. At present, the Company bases its headquarters in Jinan and has branch offices and flight bases in Qingdao, Yantai, Xiamen, Chongqing, Beijing, Urumqi and Guiyang. The Company operates more than 200 domestic, international Shandong Airlines Co., Ltd. Summar

10、y of Annual Report 2019 2 and regional air routes, every week more than 3,700 flights fly to more than 80 large and medium-sized cities across the country, as well as the regional routes to Taiwan region of China, and the international routes to South Korea, Japan, Thailand, Cambodia and India. 3. M

11、ain accounting data and financial indexes (1) Main accounting data and financial indexes for recently three years Whether the Company needs to retroactively adjust or restate the accounting data of previous years Yes No In RMB 2019 2018 Changes over last year 2017 Operating income 18,990,415,024.88

12、18,765,953,326.74 1.20% 16,484,713,152.23 Net profit attributable to shareholders of the listed company 361,005,776.31 347,379,314.89 3.92% 490,353,408.15 Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses 203,107,863.26 132,549,289.96 53.23%

13、 388,452,214.55 Net cash flow arising from operating activities 2,629,812,252.38 2,450,017,519.48 7.34% 1,870,048,122.23 Basic earnings per share (RMB/Share) 0.9 0.87 3.45% 1.23 Diluted earnings per share (RMB/Share) 0.9 0.87 3.45% 1.23 Weighted average ROE 7.22% 7.94% 0.72 percentage points down 12

14、.19% Year end of 2019 Year end of 2018 Changes over end of last year Year end of 2017 Total assets 17,392,935,986.48 16,563,979,100.41 5.00% 13,351,422,839.91 Net assets attributable to shareholder of listed company 5,173,519,005.57 4,471,325,978.28 15.70% 4,253,141,013.93 (2) Quarterly main financi

15、al index In RMB First quarter Second quarter Third quarter Fourth quarter Operating income 4,634,384,704.82 4,354,683,695.90 5,768,785,082.57 4,232,561,541.59 Net profit attributable to shareholders of the listed company 34,059,084.70 -61,423,090.11 721,449,719.97 -333,079,938.25 Shandong Airlines C

16、o., Ltd. Summary of Annual Report 2019 3 Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses 22,988,496.10 -89,019,199.90 660,558,166.44 -391,412,611.70 Net cash flow arising from operating activities 72,679,453.91 471,397,201.77 1,652,901,573

17、.57 432,834,023.13 Whether there are significant differences between the above-mentioned financial index or its total number and the relevant financial index disclosed in the companys quarterly report and semi-annual report Yes No 4. Shares and shareholders (1) Particulars about common stock shareho

18、lders, preference shareholders with voting rights recovered and top ten shareholders In Share Total common stock shareholders in reporting period-end 14,699 Total common stock shareholders at end of last month before annual report disclosed 14,675 Total preference shareholders with voting rights rec

19、overed at end of reporting period 0 Total preference shareholders with voting rights recovered at end of last month before annual report disclosed 0 Top ten shareholders Full name of Shareholders Nature of shareholder Proportion of shares held Amount of shares held Amount of restricted shares held N

20、umber of shares pledged/frozen State of share Amount Shandong Aviation Group State-owned legal person 42.00% 168,004,000 168,004,000 Air China Limited State-owned legal person 22.80% 91,200,000 91,200,000 NORGES BANK Foreign legal person 0.87% 3,498,479 0 V ANGUARD EMERGING MARKETS STOCK INDEX FUND

21、Foreign legal person 0.74% 2,960,917 0 WANXIANG INTERNATIONAL INVESTMENT CORPORATION Foreign legal person 0.66% 2,658,100 0 V ANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND Foreign legal person 0.57% 2,268,651 0 Shandong Airlines Co., Ltd. Summary of Annual Report 2019 4 ISHARES CORE MSCI EMERGING MAR

22、KETS ETF Foreign legal person 0.52% 2,063,918 0 Hou Chunhu Domestic nature person 0.44% 1,750,345 0 Chen Jingjian Domestic nature person 0.40% 1,595,200 0 Wang Jingqing Domestic nature person 0.33% 1,319,553 0 Explanation on related relationship or concerted action among the above mentioned sharehol

23、ders 1. Shandong Aviation Group is the first largest shareholder of the Company, who holds the shares of the Company on behalf of the State with unlisted shares; 2. Air China Limited is the second largest shareholder of the Company, who holds the shares of the Company on behalf of the State with unl

24、isted shares; 3. Among the above top ten shareholders, Air China Limited is the first largest shareholder of the Shandong Aviation Group, and there exists no associated relationship between Shandong Aviation Group and Air China and the other shareholders, and they dont belong to the persons acting i

25、n concert regulated by the Management Regulation of Information Disclosure on Change of Shareholding for Listed Companies with the other shareholders. (2) Total preferred stock shareholders of the Company and shares held by top ten shareholders with preferred stock held The Company had no shareholde

26、rs with preferred stock held in the reporting. (3) Property right and controlling relationships between the actual controllers of the Company and the Company is as follows: 42% 5. Corporate bonds Whether or not the Company public offering corporation bonds in stock exchange, which undue or without p

27、ayment in full at maturity on the approval date for annual report disclosed No III. Discussion and analysis of business 1. Introduction of operation in the reporting period The Company runs a steady and progress operation in 2019, and basically achieve the scheduled targets. Safety position is gener

28、ally stable: In transpiration, we have ensured security flight of 434,200 hours with a 0.01% down from a Shandong Aviation Group Shandong Airlines Co., Ltd. Shandong Airlines Co., Ltd. Summary of Annual Report 2019 5 year earlier; and 206,100 vehicles, a y-o-y growth of 0.14%. The Company has achiev

29、ed 4 million hours of continuous safe flight, and was awarded the Four-Star Flight Safety Award by Civil Aviation Administration. Operation efficiency is consolidated and improved: On-time performance was 85.28%, a 3.64 percentage points up from a year earlier, a 3.63 percentage points above the ind

30、ustry average, ranks No.1 within the industry. Guarantee 110 flights of important tasks smoothly. Successful completion of the benefit targets: we completed a RTK of 3628 million TK in the year, and passenger traffic volume came to 25,838,000 person-time, cargo and mail transport volume reached 182,

31、200 tons, an increase of 2.53%, 1.48% and 7.07% on a y-o-y basis respectively; the operation revenue reached 18.99 billion Yuan, an increase of 1.20% from a year earlier; net profit has 361.01 million Yuan, an increase of 3.92% from a year earlier. The passenger load factor (PLF) comes to 84.03%, a

32、0.12 percentage points up on a y-o-y basis; freight rate goes to 40.29%, a 0.16 percentage points down from a year earlier. Steady improvement in service quality: Passenger satisfaction achieved 93.89 scores, risen by 1.19 score on a year-on-year basis; passenger complaint rate was 0.643 times/ 10 t

33、housand person, a 0.049 times/10 thousand person down; the acceptance of passenger complaint rate ranks No. 2 (ranks in order of preference) in main airlines; won the title of “Best Airlines for Civil Aviation Service” for continuous six years; awarded as the “Top 500 Most Valuable Brand in China” f

34、or twelve years in a row with brand value up to 51,292 million Yuan, which ranking increased to ninety-eight. The Company mainly carried out the following work: (1) Improve the safety management efficiency to ensure continuous safety The first was to strengthen the implementation of political respon

35、sibility to ensure security. Conscientiously implemented the spirit of General Secretary Xi Jinpings important instructions on civil aviation work, and went all out to do a good job in safety. The second was to continuously improve the safety management system. The safety management organization sys

36、tem was optimized, the safety management responsibility interface was clearer, the collaboration was smoother, and the regional management and control capabilities were enhanced. The third was to strengthen the construction of three basics. Carried out an investigation on the pilots technical capabi

37、lities, seriously investigated and dealt with the discipline issues of simulator training, improved the qualification management and control mechanism of aircraft maintenance team, and improved the efficiency of regional maintenance support. The fourth was to deepen the prevention and control of sec

38、urity risks. Paid close attention to the key and difficult issues affecting safety quality in recent years, and implemented rolling tracking control. The fifth was to solidly carry out the aviation security work. The company continuously improved the security management system, carried out special w

39、ork to strictly control the safety order on board, and implemented two rounds of special inspections on security work. We have successfully completed the security work tasks during important periods such as the spring festival transport, the two sessions, and the 70th anniversary of the founding of

40、the Peoples Republic of China. (2) Inspired the synergy of operation system and maintained the high-level flights normality The first was to continuously optimize the working mechanism of flights normality management. Further implemented the operational management and control responsibilities, and p

41、romoted the formation of organizational synergy. Deepened the flight scheduling, adjusted and optimized the coordination mechanism, strengthened the flight early warning management and special rectification. The second was to improve the flights operation decision-making and support capabilities. Th

42、e construction of the operation quality management system was vigorously promoted, and the efficiency and application level of statistical analysis of operation data were improved. Improved the effectiveness of AOC collaborative decision-making and effectively controlled operational risks. Improved

43、the meteorological information system and wind control system alarm function, and further improved the accuracy of release control. The rapid transit success rate was 78.50%, reducing the transit time by 1309 hours and reducing flight delays by 11,292 all year round. The third was to focus on the ke

44、y and difficult points, and pay close attention to promoting and improving. We deepened the supervision and inspection of flight operation guarantees and rolled over the supervision month by month; effectively solved the problems such as the aircraft pre-deicing and the cargo counterweighting of con

45、necting flights. The rectification of the terminals was carried out steadily, and the on-site guarantee quality of relevant terminals was improved. (3) Coordinated the organizations response to risks, and increased revenue and reduced expenditures and achieved results The first was to continuously i

46、mprove the competitiveness of the airline network. The hub airports time resources achieved growth, Shandong Airlines Co., Ltd. Summary of Annual Report 2019 6 and the international regions have made breakthroughs in time resources. In response to the impact of the grounding of B737MAX, deployed the

47、 transport capacity of outside stations and increased the investment in main base markets, and the control of Jinan and Qingdao was consolidated. The second was to effectively improve the production efficiency. Improved the passenger source matching ability, scientifically grasped the rhythm of tran

48、sport capacity investment, and improved the level of resource allocation and the operation efficiency. The third was to vigorously improve revenue management capabilities. The efficiency monitoring mechanism of the sales department was improved, and the proportion of disadvantaged flights decreased. We actively created value-added service products such as business trip and Luyan trip so as to increase the company revenue. The market share of the main base of the freight business was consolidated, an