山航Ｂ：2016年年度报告（英文版）.PDF

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1、 ANNUAL REPORT 2016 March 2017 Contents Section I Important Notice and Paraphrase .1 Section II Company Profile and Main Finnaical Indexes .3 Section III Summary of Company Business .7 Section IV Discussion and Analysis of Operation.9 Section V Important Events .21 Section VI Changes in shares and p

2、articular about shareholders.29 Section VII Preferred Stock 35 Section VIII Particulars about Directors,Supervisors,Senior Executives and Employees.36 Section IX Corporate Governance.47 Section X Corporate Bond.55 Section XI Financial Report.56 Section XII Documents available for reference.170 Shand

3、ong Airlines Co.,Ltd.Annual Report 2016 1 Section I.Important Notice and Paraphrase 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

4、,misleading statements,or important omissions carried in 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 charger of accounting works and Sun Jingping,perso

5、n in charge of accounting organ(accounting principal)hereby confirm that the Financial Report of 2016 Annual Report is authentic,accurate and complete.Other directors attending the Meeting for annual report deliberation except for the followed:Name of director absent Title for absent director Reason

6、s for absent Attorney Wang Mingyuan Director Work causes Xu Chuanyu China Securities Journal,Securities Times,Hong Kong Commercial Daily and Juchao Website()are the media for information disclosure appointed by the Company,all information under the name of the Company disclosed on the above said med

7、ia shall prevail,and Investors are advised to exercise caution of investment risks.The profit distribution plan that deliberated and approved by the Board is:based on total stock issued 400,000,000 shares,distributed 3.0 Yuan(tax included)bonus in cash for every 10-share hold by all shareholders,0 s

8、hares bonus issued(tax included)and no capitalizing of common reserves carried out.Shandong Airlines Co.,Ltd.Annual Report 2016 2 Paraphrase Items Refers to Contents The Company,Company Refers to Shandong Airlines Co.,Ltd.SDA Refers to Shandong Aviation Group;the first largest shareholder and contro

9、lling shareholder of the Company Air China Refers to Air China Limited,the second largest shareholder of the Company Shandong Airlines Co.,Ltd.Annual Report 2016 3 Section II Company Profile and Main Finnaical Indexes I.Company information Short form of the stock Shanhang-B Stock code 200152 Stock e

10、xchange 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)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 Registrati

11、ons add.Yaoqiang International Airport,Jinan,Shandong Code for registrations add 250107 Offices add.SDA Bldg.,No.5746,Er Huan East Road,Jinan,Shandong Codes for office add.250014 Company website http:/ Email II.Person/Way to contact Secretary of the Board Rep.of security affairs Name Dong Qiantang F

12、an Peng Contacts 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 International Airlines,Licheng District,Jinan,Shandong Tel.0531-82085939 0531-8208

13、5586 Fax.0531-85698767 ext.8679 0531-85698767 ext.8679 Email Shandong Airlines Co.,Ltd.Annual Report 2016 4 III.Information disclosure and preparation place Newspaper appointed for information disclosure In China:China Securities Journal,Securities Times overseas:Hong Kong Commercial Daily Website f

14、or annual report publish appointed by CSRC http:/ Preparation place for annual report Office of Board(3/F,Tiangong Office Building,North of Red-crowed cranes Hotel,Yaoqiang International Airlines,Licheng District,Jinan,Shandong)IV.Registration changes of the Company Organization code 913700007207212

15、01F Changes of main business since listing(if applicable)No change.Previous changes for controlling shareholders(if applicable)No change.V.Other relevant information CPA engaged by the Company Name of CPA Ruihua Certified Public Accountants(LLP)Offices add.for CPA 5-11/F,West Tower,China Oversea Pro

16、perty Plaza,NO.7 Building of No.8 West Binhe Rd.,Dongcheng District,Beijing Signing Accountants Yang Yunhui,Guo Yuefeng Sponsor engaged by the Company for performing continuous supervision duties in reporting period Applicable Not applicable Financial consultant engaged by the Company for performing

17、 continuous supervision duties in reporting period Applicable Not applicable VI.Main accounting data and financial indexes Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting error correction or not Yes No 2016 2015 Changes o

18、ver last year 2014 Operating income(RMB)13,742,365,545.56 12,108,963,139.11 13.49%11,570,296,757.48 Net profit attributable to shareholders of the listed company(RMB)532,834,567.17 532,260,993.04 0.11%287,851,542.09 Shandong Airlines Co.,Ltd.Annual Report 2016 5 Net profit attributable to shareholde

19、rs of the listed company after deducting non-recurring gains and losses(RMB)409,577,360.28 387,733,814.57 5.63%146,403,043.43 Net cash flow arising from operating activities(RMB)2,427,055,988.42 2,424,457,843.01 0.11%1,459,828,215.31 Basic earnings per share(RMB/Share)1.33 1.33 0.00%0.72 Diluted ear

20、nings per share(RMB/Share)1.33 1.33 0.00%0.72 Weighted average ROE 14.88%17.22%2.34 percentage points down 10.33%End of 2016 End of 2015 Changes over end of last year End of 2014 Total assets(RMB)12,741,974,788.53 12,748,902,597.96-0.05%12,118,867,620.51 Net assets attributable to shareholder of lis

21、ted company (RMB)3,836,172,828.06 3,365,013,204.57 14.00%2,878,120,380.35 VII.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(Ge

22、nerally Accepted Accounting Principles)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 and net assets

23、disclosed in financial report,under both foreign accounting rules and Chinese GAAP(Generally Accepted Accounting Principles)The Company had no difference of the net profit or net assets disclosed in financial report,under either foreign accounting rules or Chinese GAAP(Generally Accepted Accounting

24、Principles)in the period.VIII.Quarterly main financial index In RMB First quarter Second quarter Third quarter Fourth quarter Operating income 3,219,038,263.72 3,090,711,026.50 4,281,345,876.23 3,151,270,379.11 Net profit attributable to shareholders of the listed company 245,104,203.92 38,585,284.7

25、3 561,083,160.10-311,938,081.58 Net profit attributable to 211,053,323.68-8,590,154.76 543,592,573.16-336,478,381.80 Shandong Airlines Co.,Ltd.Annual Report 2016 6 shareholders of the listed company after deducting non-recurring gains and losses Net cash flow arising from operating activities 269,90

26、4,370.90 754,591,361.32 1,307,244,115.90 95,316,140.30 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 IX.Items and amounts of extraordi

27、nary profit(gains)/loss Applicable Not applicable In RMB Item Amount in 2016 Amount in 2015 Amount in 2014 Note Gains/losses from the disposal of non-current asset(including the write-off that accrued for impairment of assets)-3,391,225.20 44,170,859.84-5,392,037.39 Governmental subsidy reckoned int

28、o current gains/losses(not including the subsidy enjoyed in quota or ration according to national standards,which are closely relevant to enterprises business)149,937,201.77 113,608,585.59 161,105,606.12 Losses/gains from changes of fair values occurred in holding transaction financial assets and tr

29、ansaction financial liabilities,and investment income obtaining from the disposal of transaction financial assets and transaction financial liabilities and financial assets available for sales,excluded effective hedging business relevant with normal operations of the Company 937,568.04-5,042,991.37-

30、3,363,887.84 Other non-operating income and expenditure except for the aforementioned items 17,172,191.25 25,300,508.74 36,398,186.39 Less:impact on income tax 41,398,528.97 33,509,784.33 47,299,368.62 Total 123,257,206.89 144,527,178.47 141,448,498.66-In reporting period,the Company has no particul

31、ar about items defined as recurring profit(gain)/loss according to the lists of extraordinary profit(gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public-Extraordinary Profit/lossShandong Airlines Co.,Ltd.Annual Report 2016 7 Section III

32、 Summary of Company Business I.Main businesses of the company in the reporting period Our Company and its subsidiaries are mainly engaged in provision of airline transportation service.The details of our operation scope are set out in the notes to financial statements.For more than two decades,the C

33、ompany has always been giving first priority to ensure safety,pay close attention to efficiency,strive to punctuality and quality service.As of the end of 2016,the Company has 100 airplanes like Boeing B737 series,and enters into the ranks of large airlines.At present,the Company takes Jinan as the

34、headquarters base,and sets up five branches(base)in Qingdao,Yantai,Xiamen,Chongqing,and Beijing,establishes four flight bases in Urumqi,Guiyang,Kunming,and Haikou,builds an airline network which cuts through south and north and connects east to west,and builds the triangle base pattern among Shandon

35、g,Xiamen,and Chongqing.The Company elaborately creates the honest and kind brand characteristics,which is increasingly blending in the enterprise blood along with the growth of fleet size and airline network.The Company has been awarded the title of the“most valuable top 500 brands of China”for succ

36、essive nine years.In 2016,the brand value of the Company increased by RMB 5.313 billion as compared to previous year to RMB 28.528 billion,making it rank No.101 among the most valuable top 500 brands of China,with 4 positions improved than last year.Creating a solid foundation of safety management b

37、y reinforcing operation management,continous optimized the route network and fleet structure,continue to improve the level of marketing management,implemented refined cost control and focus on perfecting the HR construction,the sustainable grwoth ability achived a steady improvement in 2016 II.Major

38、 changes in main assets 1.Major changes in main assets Major assets Note of major changes Monetary fund The maturity loan are paid in the Period Dividend receivable Dividend payment for year of 2014 are collected in the Period from Sichuan Airlines Advance payment The prepaid rents growth due to the

39、 increase of lease aircrafts in the Year Deferred tax assets Deductable temporary difference increased due to the accrued expenses growth in the Period Other non-current assets Balance at period-end decline mainly because the operation leasing resulted from aircraft leaseback are have no income in t

40、he Period 2.Main overseas assets Applicable Not applicable Shandong Airlines Co.,Ltd.Annual Report 2016 8 III.Core competitive-ness analysis No change Shandong Airlines Co.,Ltd.Annual Report 2016 9 Section IV Discussion and Analysis of Operation 1.Introduction The security sitation remained stable i

41、n year of 2016,operating quality continues to improve,main business maintain profitablity and service quality improved steadily,operation business are achieved the targets that predicted as a whole.(I)Continue to deepen security management In 2016,transportation segment,our principal business,has gu

42、aranteed 170,100 safe flights for 353,000 hours,representing increases of 12.5%and 9.5%respectively as compared to previous year.There is no civil aircraft incident or worse occurred due to the reason of the Company or external engagement.Safety quality evaluation indicator was 10.29.The Company con

43、tinues to improve its security management policy,innovate a safety supervision mechanism,strengthen the safety production capacity and pay close attention to safety style rectification.(II)Optimized and improve the operation control and decision-making mechanism Our punctuation rate throughout the y

44、ear was 80.09%,representing an increase of 6.95 percentage points over last year,ranking the 2nd position among the major airline companies.42 flights for significant missions and special III(inclusive)were ensured,with punctuation rate of 98%.The Company reinforce management of flight normality,the

45、 normal rate for first flight in the whole year achived as 88%;optimized the operation decision-making mechanism,actively implement technological innovation.Implemented 143 times HUD LVTO in the whole year,and realized the effective support of technical factors to operation efficiency.(III)Drive on

46、structure optimization and cost control In 2016,we completed a total turnover of 2.667 billion tons per kilometer,total passengers of 19.205 million and freights transportation of 155,600 tons,representing increases of 19.6%,14.0%and 8.9%respectively.In addition,we realized operating income of RMB 1

47、3.742 billion,representing an increase of 13.49%year on year;total profit of RMB 709 million,representing a decrease of 0.23%year on year.The occupation rate of our passenger flights was 77.90%,with an increase of 2.02 percentage points year on year,the loading rate of freight flights was 40.94%,wit

48、h an increase of 5.36 percentage points year on year.The Company strengthen organization of production resources,positively advancing construction of direct marketing channel,and digging deep into customer value,actively winning synergize,achieved cost advantage strategy,innovation development abili

49、ty of the investment enterprise is enhanced.(IV)Promoting service quality and brand building The overall comment on passenger satisfaction investigation reached at 96.33,increasing 2.17 points year on year.Customers effective complain rate was 0.165 per ten thousand people.We ranking fouth in aspect

50、 of services in the civil aviation authoritative media,and hornor the prize of Best Airline in Civil Aviation Service.The Company hornor the Chinas 500 Most Valuable Brands for nine consecutive years with brand value up to over 28.528 billion Yuan,a 5313 million Yuan grownt over last year,ranked 4 t