山航Ｂ：2021年半年度报告（英文版）.PDF

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1、 Semi-Annual Report 2021 August 2021 Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 Content Section I Important Notice and Interpretation.1 Section II Company Profile and Main Financial Indexes.4 Section III Management Discussion and Analysis.7 Section IV Corporate Governance .25 Section V Enviro

2、nmental and Social Responsibility .26 Section VI Important Events.27 Section VII Changes in shares and particular about shareholders.35 Section VIII Preferred Shares.40 Section IX Corporate Bonds.41 Section X Financial Report.44 Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 1 Section I.Important

3、 Notice and Interpretation Board of Directors,Supervisory Committee,all directors,supervisors and senior executives of Shandong Airlines Co.,Ltd.(hereinafter referred to as the Company)hereby confirm that there are no any fictitious statements,misleading statements,or important omissions carried in

4、this report,and shall take all responsibilities,individual and/or joint,for the reality,accuracy and completion of the whole contents.Sun Xiujiang,Principal of the Company,Xu Guojian,person in charge of accounting works and Zhou Shoubin,person in charge of accounting organ(accounting principal)hereb

5、y confirm that the Financial Report of Semi-annual of 2021 Report is authentic,accurate and complete.All directors have attended the Board Meeting for Report Deliberation.Concerning the forward-looking statements with development strategy and business plans involved in the Report,they do not constit

6、ute a substantial commitment for the investors.Investors are advised to exercise caution of investment risks.This report has been prepared in Chinese and English version respectively.In the event of difference in interpretation between the two versions,Chinese report shall prevail.The Company has no

7、 plans of cash dividend distributed,no bonus shares and has no share converted from capital reserve either Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 2 Documents available for Reference 1.Financial statements carrying the personal signatures and seals of Person in charge of the company,Person

8、 in charge of Accounting Works and Person in charge of Accounting Institution.2.Originals of all documents and notices publicly disclosed websites designated by CSRC in the reporting period.3.The Company will offer above documents for reference timely provided that CSRC or Stock Exchange demands or

9、shareholders requires according to the regulations and Articles of Association.Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 3 Interpretation Items Refers to Contents The Company,Company Refers to Shandong Airlines Co.,Ltd.Shandong Aviation Refers to Shandong Aviation Group,the first largest sha

10、reholder and controlling shareholder of the Company Air China Refers to Air China Limited,the second largest shareholder of the Company ATK(Available Tonne-Kilometre)Refers to Sum of products of payload and route distance for each segment ASK Refers to Sum of products of maximum numbers of seats and

11、 route distance for each segment AFTK Refers to Sum of products of maximum cargo carrying tonnage and route distance for each segment RTK Refers to Sum of products of tonnage of transport and route distance for each segment actually RPK(Revenue Passenger Kilometers)Refers to Sum of products of passe

12、nger traffic volume and route distance for each segment actually RFTK Refers to Sum of products of freight carrying tonnage and route distance for each segment actually Integrated carrier rate Refers to RTK/ATK PLF(Passenger Load Factor)Refers to RPK/ASK Freight Rate Refers to RFTK/AFTK Shandong Air

13、lines Co.,Ltd.Semi-Annual Report 2021 4 Section II Company Profile and Main Financial Indexes I.Company profile Short form of the stock Shanhang-B Stock code 200152 Stock exchange for listing Shenzhen Stock Exchange Name of the Company(in Chinese)山东航空股份有限公司 Short form of the Company(in Chinese)(if a

14、pplicable)山东航空 Foreign name of the Company(if applicable)SHANDONG AIRLINES CO.,LTD.Short form of foreign name of the Company(if applicable)SDA Legal representative Sun Xiujiang II.Person/Way to contact Secretary of the Board Rep.of security affairs Name Dong Qiantang Fan Peng Contacts add.1/F,SDA Of

15、fice Building,Yaoqiang International Airlines,Licheng District,Jinan,Shandong 3/F,SDA Office Building,Yaoqiang International Airlines,Licheng District,Jinan,Shandong Tel.0531-82085939 0531-82085586 Fax.0531-85698034 0531-85698034 Email III.Others 1.Way to contact the Company Register address,office

16、address and code,Company website as well as the email of the Company have no changed in reporting period,more details please found in the Annual Report of 2020.2.Information disclosure and preparation place Newspaper appointed for information disclosure,website for annual report publish appointed by

17、 CSRC and preparation place for semi-annual report have no change in reporting period,more details please found in the Annual Report of 2020.Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 5 IV.Main accounting data and financial indexes Whether the Company needs to retroactively adjust or restate

18、the accounting data of previous years Yes No Current Period Same period of last year Increase/decrease over same period of last year Operating income(RMB)6,635,551,376.88 4,190,649,796.09 58.34%Net profit attributable to shareholders of the listed company(RMB)-795,198,752.78-1,296,010,573.90 38.64%N

19、et profit attributable to shareholders of the listed company after deducting non-recurring gains and losses(RMB)-882,473,041.03-1,336,518,968.35 33.97%Net cash flow arising from operating activities(RMB)868,624,388.49-1,897,748,778.43 145.77%Basic earnings per share(RMB/Share)-1.99-3.24 38.64%Dilute

20、d earnings per share(RMB/Share)-1.99-3.24 38.64%Weighted average ROE -142.43%-29.45%112.98 percentage points down End of current Period End of last year Increase/decrease over same period-end of last year Total assets(RMB)34,747,323,767.43 22,403,505,133.99 55.10%Net assets attributable to sharehold

21、er of listed Company(RMB)142,659,081.91 2,570,260,924.21-94.45%V.Difference of the accounting data under accounting rules in and out of China 1.Difference of the net profit and net assets disclosed in financial report,under both IAS(International Accounting Standards)and Chinese GAAP(Generally Accep

22、ted Accounting Principles)Applicable Not applicable The Company had no difference of the net profit or net assets disclosed in financial report,under either IAS(International Accounting Standards)or Chinese GAAP(Generally Accepted Accounting Principles)in the period.2.Difference of the net profit an

23、d net assets disclosed in financial report,under both foreign accounting rules and Chinese GAAP(Generally Accepted Accounting Principles)Applicable Not applicable The Company had no difference of the net profit or net assets disclosed in financial report,under either foreign accounting rules or Chin

24、ese GAAP(Generally Accepted Accounting Principles)in the period.Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 6 VI.Items and amounts of non-recurring profit(gains)/loss In RMB/CNY Item Amount Note Gains/losses from the disposal of non-current asset(including the write-off that accrued for impair

25、ment of assets)-408,457.19 Governmental subsidy reckoned into current gains/losses(not including the subsidy enjoyed in quota or ration according to national standards,which are closely relevant to enterprises business)43,771,787.90 Losses/gains from changes of fair values occurred in holding tradin

26、g financial assets,derivative financial assets,trading financial liabilities and derivative financial liabilities,and investment income obtaining from the disposal of trading financial assets,derivative financial assets,trading financial liability,derivative financial liability and other debt invest

27、ment,excluded effective hedging business relevant with normal operations of the Company-1,366.59 Other non-operating income and expenditure except for the aforementioned items 70,820,160.42 Other items of profits/losses that qualified the definition of non-recurring profit/loss 2,193,593.13 Less:imp

28、act on income tax 29,101,429.42 Total 87,274,288.25-The Company did not have any non-recurring profit/loss defined and listed as recurring profit/loss in accordance with the Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public-Non-recurring Profit/los

29、s during the reporting period.Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 7 Section III Management Discussion and Analysis I.Main businesses of the company engaged in during the Period (1)Main business of the Company engaged in The Company is mainly engaged in international and domestic air pa

30、ssenger and cargo transportation 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 sa

31、les of tobacco;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 transporta

32、tion business is the Companys main business.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,with Shandong,Xiamen and Chongqing as the fulcrum,established a route network layout with“East-West

33、 link,North-South connect”.The Company operates more than 200 domestic,international and regional routes in total,and opens routes to the surrounding countries as South Korea,Japan,Thailand,India and Cambodia as well as the region of Taiwan China and Hong Kong China.(2)Development status of the indu

34、stry In the first half of 2021,while the COVID-19 continues to spread internationally,the epidemic domestically was generally stable.Facing the pressure of epidemic,all entities of the civil aviation industry in China are strictly implement the requirements of“preventing foreign imports and domestic

35、 rebound,prevention of person&objects together”,implement the normalized epidemic prevention and control measures,and strictly prevent the spread of epidemic through aviation.The whole industry completed a total of 5.03 million hours of transport air flights,up 44.5%from a year earlier,and completed

36、 526000 hours of general aviation flights,a y-o-y growth of 50.3%without transport aviation accidents.By the end of June 2021,the nations transport aviation achieved continuous safety flight for 130 months and 94.48 million hours.According to the data released by Civil Aviation Administration of Chi

37、na,the industry completed 46.5 billion ton-kilometers of total transport turnover in the first half of 2021,an increase of 45.4%on a y-o-y basis;245 million person-times transported with a growth of 66.4%on a y-o-y basis;and the cargo&mail transportation volume reached 3.743 million tons,a y-o-y gro

38、wth of 24.6%.(3)Summary of operating data Item Jan.-Jun.of 2021 Jan.-Jun.of 2020 Changes(+,-)Transport capacity Available tonnage kilometer(ATK)(10 thousand TK)199964.35 145129.16 37.78%Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 8 Including:Domestic flight 196188.60 139263.18 40.88%Internatio

39、nal flight 3775.75 5291.90-28.65%Regional routes 0 574.08-100.00%Available seat km(ASK)(10 thousand PK)1884705.96 1356709.77 38.92%Including:Domestic flight 1883349.05 1310391.25 43.72%International flight 1356.91 40918.38-96.68%Regional routes 0 5400.14-100.00%Available freight ton-kilometers(AFTK)

40、(10 thousand TK)30340.82 23025.28 31.77%Including:Domestic flight 26687.19 21327.96 25.13%International flight 3653.63 1609.25 127.04%Regional routes 0 88.07-100.00%Carrying capacity Total transportation turnover(RTK)(10 thousand TK)146171.98 97723.56 49.58%Including:Domestic flight 144742.50 94732.

41、11 52.79%International flight 1429.47 2773.14-48.45%Regional routes 0 218.31-100.00%Volume of passenger transportation(RPK)(10 thousand PK)1494868.96 969756.89 54.15%Including:Domestic flight 1494012.64 940150.38 58.91%International flight 856.32 27273.26-96.86%Regional routes 0 2333.25-100.00%Turno

42、ver volume of freight transportation(RFTK)(10 thousand TK)13193.86 12040.35 9.58%Including:Domestic flight 11841.14 11609.72 1.99%International flight 1352.73 414.48 226.37%Regional routes 0 16.14-100.00%Volume of passenger traffic(10 thousand passengers)1048.08 656.63 59.61%Including:Domestic fligh

43、t 1046.81 638.04 64.07%International flight 1.27 17.26-92.64%Regional routes 0 1.33-100.00%Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 9 Cargo&mail traffic volume(ton)79230.28 69844.69 13.44%Including:Domestic flight 72017.52 66941.56 7.58%International flight 7212.76 2805.86 157.06%Regional r

44、outes 0 97.27-100.00%Load factor Integrated carrier rate(%)73.10 67.34 5.76 Including:Domestic flight 73.78 68.02 5.76 International flight 37.86 52.40-14.54 Regional routes 0 38.03-38.03 PLF(%)79.32 71.48 7.84 Including:Domestic flight 79.33 71.75 7.58 International flight 63.11 66.65-3.54 Regional

45、 routes 0 43.21-43.21 Freight Rate(%)43.49 52.29-8.80 Including:Domestic flight 44.37 54.43-10.06 International flight 37.02 25.76 11.26 Regional routes 0 18.33-18.33 Utilization of aircraft on a daily basis(Daily cycle times per aircraft)8.16 6.02 2.14 (4)Fleet structure During the reporting period

46、,the Company has no aircraft were introduced or withdrawn.As of 30 June 2021,the Company has 131 airplanes in operation and the fleet distribution below:Model Numbers Average service age(Year)737-700 3 7.8 years 737-800 121 737-8 7 (5)Operation of the Company In the first half of 2021,the company to

47、ok the initiative to respond to the challenges brought by COVID-19 pandemic,and achieved positive results in pandemic prevention and control,production safety,operation quality and business benefits.1.The pandemic prevention and control situation was stable.There was no spread of the epidemic due to

48、 the companys flights;There was no confirmed or asymptomatic infection cases occurred within the company.Shandong Airlines Co.,Ltd.Semi-Annual Report 2021 10 2.The security situation remained stable.In the first half of this year,183,000 flight hours and 88,400 flights were safeguarded,increased by

49、43.64%and 45.12%on a year-on-year basis,respectively.The safety quality evaluation index was 12.01.3.The operation quality was basically stable.A total of 87,584 passenger flights were guaranteed by major transportation businesses,and the flights on-time rate was 87.49%,1.92 percentage points higher

50、 than the industry average.17 VVIP flights were guaranteed,and the flights on-time rate was 88.24%.4.Benefits reduced losses.The operating revenue reached 6.636 billion yuan,increased by 58.34%year on year;Net profit was-795 million yuan,reduced losses of 501 million yuan on a year-on-year basis;The