UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of October 2018
Commission File Number: 001-14550
China Eastern Airlines Corporation Limited
(Translation of Registrants name into English)
Board Secretariats Office
5/F, Block A2, Northern District, CEA Building
36 Hongxiang 3rd Road, Minhang District
Shanghai, China 200335
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: ☒ Form 20-F ☐ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: ☐ Yes ☒ No
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
China Eastern Airlines Corporation Limited | ||||||||
(Registrant) | ||||||||
Date |
October 29, 2018 |
By
|
/s/ Wang Jian | |||||
Name: Wang Jian | ||||||||
Title: Company Secretary |
2
Certain statements contained in this announcement may be regarded as forward-looking statements within the meaning of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Companys filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Companys views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Companys views to change, the Company specifically disclaims any obligation to update these forward-looking statements, unless required by applicable laws. These forward-looking statements should not be relied upon as representing the Companys views as of any date subsequent to the date of this announcement.
3
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.
2018 THIRD QUARTERLY REPORT
This announcement is made pursuant to the requirements under 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 financial statements of the Company for the third quarter of 2018 were not audited, and were prepared in accordance with the China Accounting Standards for Business Enterprises.
1. | IMPORTANT NOTICE |
This announcement is made by China Eastern Airlines Corporation Limited (the Company) pursuant to the disclosure requirement under Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the Listing Rules) (which requires any issuer listed on The Stock Exchange of Hong Kong Limited (the Hong Kong Stock Exchange) whose securities are also listed on other stock exchange(s) to simultaneously inform the Hong Kong Stock Exchange of any information released to any of such other exchange(s) and to ensure that such information is released to the market in Hong Kong at the same time as it is released to the other market(s)). At the request of the Shanghai Stock Exchange, a similar announcement of the even date is being made simultaneously by the Company in Shanghai pursuant to the relevant provisions of the Shanghai listing rules and regulations.
This quarterly report was prepared in accordance with the regulations as prescribed by the China Securities Regulatory Commission in relation to disclosure of information in quarterly reports for listed companies, and is published simultaneously in Shanghai and Hong Kong. The financial statements of the Company for the third quarter of 2018 were not audited, and were prepared in accordance with the China Accounting Standards for Business Enterprises.
The board of directors (the Board) and the supervisory committee of the Company, and its directors, supervisors and senior management hereby confirm that the information set out in this quarterly report does not contain false information, misleading statement or material omission, and accept joint and several responsibility for the correctness, accuracy and completeness of the information set out in this quarterly report.
1
All directors of the Company attended the meeting of the Board to consider this quarterly report.
Liu Shaoyong, the person-in-charge of the Company, Ma Xulun, the officer-in-charge of accounting of the Company, and Wu Yongliang, the officer-in-charge of the accounting department (accounting officer) of the Company hereby confirm that the financial statements forming part of this quarterly report are true, accurate and complete.
The financial statements in the third quarterly report of the Company are unaudited.
2. | MAIN FINANCIAL DATA AND CHANGES IN SHAREHOLDERS OF THE COMPANY |
2.1 | Main financial data |
Unit: million Currency: RMB | ||||||||||||
As at the end of the reporting period |
As at the end of last year |
Increase/decrease of last year |
||||||||||
(%) | ||||||||||||
Total assets |
239,615 | 227,464 | 5.34 | |||||||||
Net assets attributable to shareholders of the listed company |
57,909 | 53,106 | 9.04 |
From the year to the end of the
reporting |
From the last year to the end |
Increase/ decrease compared with the same period last year |
||||||||||
(%) | ||||||||||||
Net cash flows from operating activities |
21,072 | 14,528 | 45.04 |
2
From the beginning of the year to the end of the reporting period |
From the beginning of last year to
the end |
Increase/decrease the same period last year |
||||||||||
(%) | ||||||||||||
Revenue |
87,878 | 77,505 | 13.38 | |||||||||
Net profit attributable to shareholders of the listed company |
4,490 | 7,915 | -43.27 | |||||||||
Net profit attributable to shareholders of the listed company after deducting non-recurring profit and loss |
4,230 | 5,649 | -25.12 | |||||||||
Weighted average return on net assets(%) |
8.00 | 15.45 | Decreased by 7.45 pts | |||||||||
Basic earnings per share (RMB/share) |
0.31 | 0.55 | -43.64 | |||||||||
Diluted earnings per share (RMB/share) |
0.31 | 0.55 | -43.64 |
Non-recurring profit and loss and relevant amounts
Unit: million Currency: RMB | ||||||||
Item | Amount for the period (July-September) |
Amount from the beginning of the year to the end of the reporting period (January-September) |
||||||
Gains or losses from disposal of non-current assets |
34 | 24 | ||||||
Investment income derived from the holding of financial assets held for trading, gains and losses arising from changes in fair value of financial liabilities held for trading and disposal of financial assets held for trading, financial liabilities held for trading and available-for-sale financial assets (excluding the effective hedging activities related to the normal operation of the Company) |
0 | -30 | ||||||
Reverse of the provision for impairment of receivables individually tested for impairment |
0 | 5 | ||||||
Other non-operating income and expenses other than aforesaid items |
103 | 377 | ||||||
Impact on minority interests (after tax) |
-2 | -24 | ||||||
Impact on the income tax |
-39 | -92 | ||||||
|
|
|
|
|||||
Total |
96 | 260 | ||||||
|
|
|
|
3
2.2 | The total number of the Companys shareholders and the shareholding of the 10 largest shareholders and the shareholding of the 10 largest holders of listed shares (or holders of shares without trading moratorium) as at the end of the reporting period |
Unit: Shares | ||||
Total number of shareholders |
209,255 |
Shareholding of the 10 largest shareholders | ||||||||||||||||||||||
Name of shareholder (in full) | Shareholdings of the period |
Proportion | Number of shares with trading moratorium held |
Pledged or locked-up | Nature of shareholders | |||||||||||||||||
(%) | Status of shares |
Number of shares |
||||||||||||||||||||
China Eastern Air Holding Company Limited (CEA Holding) (中國東方航空集團有限公司) |
5,072,922,927 | 35.06 | % | 0 | Nil | 0 | State-owned legal person | |||||||||||||||
HKSCC NOMINEES LIMITED |
4,183,671,259 | 28.92 | % | 0 | Unknown | Unknown | Overseas legal person | |||||||||||||||
China National Aviation Fuel Holding Company Limited (中國航空油料集團有限公司) |
504,767,895 | 3.49 | % | 0 | Nil | 0 | State-owned legal person | |||||||||||||||
DELTA AIR LINES INC |
465,910,000 | 3.22 | % | 0 | Nil | 0 | Overseas legal person | |||||||||||||||
Shanghai Licheng Information Technology Consulting Co., Ltd. (上海勵程信息技術諮詢有限公司) |
465,838,509 | 3.22 | % | 0 | Pledged | 465,838,509 | Domestic non-state-owned legal person | |||||||||||||||
CES Finance Holding Co., Ltd. (CES Finance) ( 東航金控有限責任公司) |
457,317,073 | 3.16 | % | 0 | Nil | 0 | State-owned legal person | |||||||||||||||
China Securities Finance Corporation Limited (中國證券金融股份有限公司) |
428,713,382 | 2.96 | % | 0 | Nil | 0 | State-owned legal person | |||||||||||||||
China COSCO Shipping Corporation Limited ( 中國遠洋海運集團有限公司) |
232,919,254 | 1.61 | % | 0 | Nil | 0 | State-owned legal person | |||||||||||||||
Central Huijin Asset Management Ltd. ( 中央匯金資產管理有限責任公司) |
70,984,100 | 0.49 | % | 0 | Nil | 0 | State-owned legal person | |||||||||||||||
Dacheng Fund Agricultural Bank Dacheng China Securities and Financial Assets Management Program |
65,946,480 | 0.46 | % | 0 | Nil | 0 | State-owned legal person |
4
Shareholding of the 10 largest holders of shares without trading moratorium | ||||||||||
Name of shareholder | Number of listed shares without trading moratorium held |
Class and number of shares Class |
Number | |||||||
CEA Holding (中國東方航空集團有限公司) |
5,072,922,927 | RMB ordinary shares | 5,072,922,927 | |||||||
HKSCC NOMINEES LIMITED |
4,183,671,259 | Overseas listed foreign shares | 4,183,671,259 | |||||||
China National Aviation Fuel Holding Company Limited (中國航空油料集團有限公司) |
504,767,895 | RMB ordinary shares | 504,767,895 | |||||||
DELTA AIR LINES INC |
465,910,000 | Overseas listed foreign shares | 465,910,000 | |||||||
Shanghai Licheng Information Technology Consulting Co., Ltd. (上海勵程信息技術諮詢有限公司) |
465,838,509 | RMB ordinary shares | 465,838,509 | |||||||
CES Finance (東航金控有限責任公司) |
457,317,073 | RMB ordinary shares | 457,317,073 | |||||||
China Securities Finance Corporation Limited (中國證券金融股份有限公司) |
428,713,382 | RMB ordinary shares | 428,713,382 | |||||||
China COSCO Shipping Corporation Limited ( 中國遠洋海運集團有限公司) |
232,919,254 | RMB ordinary shares | 232,919,254 | |||||||
Central Huijin Asset Management Ltd. ( 中央匯金資產管理有限責任公司) |
70,984,100 | RMB ordinary shares | 70,984,100 | |||||||
Dacheng Fund Agricultural Bank Dacheng China Securities and Financial Assets Management Program |
65,946,480 | RMB ordinary shares | 65,946,480 | |||||||
Description of connected relationship or activities in concert among the above shareholders |
|
Among the 4,183,671,259 shares held by HKSCC NOMINEES LIMITED, 2,626,240,000 shares are held by CES Global Holdings (Hong Kong) Limited (CES Global) in the capacity of beneficial owner. CEA Holding owns 100% equity interest in CES Finance; CES Finance owns 100% equity interest in CES Global; thus, CEA Holding indirectly owns 100% equity interest in CES Global. The Company is not aware of any other connected relationship or activities in concert among the 10 largest holders of shares without trading moratorium. |
|
As at the end of the reporting period, CES Global has pledged an aggregate of 1.45 billion H Shares of the Company.
5
3. | IMPORTANT MATTERS |
3.1 | Details of and reasons for the substantial changes in main items of financial statements and financial indicators of the Company |
Pursuant to the notice regarding the Accounting Standards for Business Enterprises No. 14 Revenue, Accounting Standards for Business Enterprises No. 22 Recognition and Measurement of Financial Instruments, Accounting Standards for Business Enterprises No. 23 Transfer of Financial Assets, Accounting Standards for Business Enterprises No. 24 Hedge Accounting, Accounting Standards for Business Enterprises No. 37 Presentation of Financial Instruments amended and published by the Ministry of Finance, the Company has applied the above revised Accounting Standards for Business Enterprises since 1 January 2018. In respect of the cumulative effect of initial application of the above standards, the Company adjusted the retained profit and other comprehensive income at the beginning of the reporting period of 2018, and the shareholders equity at the beginning of the reporting period increased to 1,031 million.
Item | Change as compared to January September of last year |
Reason for the Change | ||||
Finance costs |
357.04 | % | Primarily due to the appreciation of US dollar against RMB, resulting in exchange losses of RMB2.157 billion from January to September in 2018, realizing exchange gains of RMB1.298 billion during the same period | |||
Investment income |
-91.28 | % | Primarily due to the transfer of 100% equity interest in Eastern Airline Logistics Co., Limited by the Company to Eastern Airlines Industry Investment Company Limited in 2017, realizing investment income of RMB1.754 billion | |||
Non-operating income |
-42.84 | % | Primarily due to the Companys transfer of amount of expired sales for which performance obligation is no longer existed, from non-operating income to operating income pursuant to the implementation of the revised Accounting Standards for Business Enterprises No. 14 Revenue. | |||
Net cash flows from operating activities |
45.04 | % | Primarily due to the year-on-year increase of operating income arising from the year-on-year increase of revenue. |
6
Item | Change as compared to January September of last year |
Reason for the Change | ||||
Net cash flows from financing activities |
-272.26 | % | Primarily due to the increase of net cash flows from operating activities, reducing the need for financing | |||
Item | Change as compared to 31 December 2017 |
Reason for the change | ||||
Prepayments |
68.62 | % | Primarily due to the increase in prepayment of aircraft operating lease rentals | |||
Other receivable |
72.88 | % | Primarily due to the increase in export refund receivables | |||
Available-for-sale financial assets |
-100.00 | % | Primarily due to the application of the revision of Accounting Standards for Business Enterprises No. 22 Recognition and Measurement of Financial Instruments and Accounting Standards for Business Enterprises No. 37 Presentation of Financial Instruments by the Company, measuring financial assets at fair values, and reclassifying to other equity instruments investments | |||
Other equity instruments investments |
| |||||
Hedge instrument |
135.76 | % | Primarily due to the settlement of certain foreign exchange contracts held by the Company | |||
Account collected in advance |
-97.99 | % | Primarily due to the application of the revised Accounting Standards for Business Enterprises No. 14 Revenue by the Company, recognizing the unused tickets sold as contract liabilities | |||
Settlement of vouchers |
-100.00 | % | ||||
Contract liabilities |
| |||||
Short-term borrowings |
-48.18 | % | Primarily due to the adjustment in debt structure by the Company, decreasing short-term liabilities and increasing long-term liabilities | |||
Long-term borrowings |
58.57 | % | ||||
Deferred income tax liabilities |
1577.78 | % | Primarily due to the application of each of the revised accounting standards, adjusting the opening balance of the period retrospectively and adjusting deferred income tax |
7
3.2 | Analysis of the progress of significant events and their effects and proposed solutions |
(1) | The non-public issuance of A Shares and H Shares by the Company |
On 10 July 2018, the related matters of this non-public issuance of A Shares and non-public issuance of H Shares were approved at the fifteenth ordinary meeting of the eighth session of the Board. The Company intends to non-publicly issue A Shares to Juneyao Airlines Co., Ltd. (Juneyao Airlines), and its controlling shareholder Juneyao (Group) Co., Ltd. (Juneyao Group) and/or its designated controlled subsidiaries and China Structural Reform Fund Corporation Limited for proceed of not more than RMB11.8 billion (inclusive); the Company intends to non-publicly issue H Shares to Juneyao Airlines and/or its designated controlled subsidiaries for proceed of not more than HK$3.5503 billion (inclusive). The Company received the approval from State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on 25 August 2018, SASAC agreed in principle on this non-public issuance of A Shares and H Shares proposal of the Company. On 30 August 2018, the relevant resolutions were considered and approved at the 2018 third extraordinary general meeting, 2018 first A Share class meeting and 2018 first H Share class meeting of the Company. On the same date, the resolution for the clarification and specification of subscribers of A Shares regarding the non-public issuance of A Shares by the Company in 2018 was considered and approved at the 2018 fourth regular meeting of the Board. On 18 October 2018, the resolution for the clarification and specification of subscribers of H Shares regarding the non-public issuance of H Shares by the Company in 2018 was considered and approved at the seventeenth ordinary meeting of the eighth session of the Board. For details, please refer to the announcements of the Company published on the websites of Shanghai Stock Exchange and Hong Kong Stock Exchange on 10 July, 29 August, 30 August and 18 October 2018. The non-public issuance proposal is still pending approval by regulatory authorities including the Civil Aviation Administration of China (if required) and/or East China Regional Administration of the Civil Aviation Administration of China and China Securities Regulatory Commission.
(2) | Amendments to certain provisions of the articles of association of the Company |
On 30 August 2018, the 2018 third extraordinary general meeting of the Company considered and approved the resolution regarding the amendments to certain provisions of the articles of association of the Company, the rules for the meetings of the Board and the rules for the meeting of the supervisory committee of the Company. For details, please refer to the announcement of the Company published on the websites of Shanghai Stock Exchange and Hong Kong Stock Exchange on 30 August 2018.
8
(3) | Adjustments to the directors, supervisors and senior management of the Company |
According to the unified deployment and arrangement of the Companys comprehensive deepened reform, certain directors and supervisors resigned from the positions as directors and supervisors of the Company. On 30 August 2018, independent directors, shareholder representative supervisors, employee representatives supervisors and chief legal adviser of the Company were elected at the 2018 third extraordinary general meeting, the 2018 third leader joint meeting of the sixth employee representatives and the 2018 fourth regular meeting of the Board, respectively. For details, please refer to the announcements of the Company published on the websites of Shanghai Stock Exchange and Hong Kong Stock Exchange on 8 August and 30 August 2018.
3.3 | Failure in performance of undertakings during the reporting period |
As at the end of the reporting period, the undertakings of the Company have been fully fulfilled.
3.4 | Warning of and reasons for any expected accumulated losses from the beginning of the year to the end of the following reporting period or substantial changes in profitability compared to the same period last year |
Not applicable
By order of the Board |
CHINA EASTERN AIRLINES CORPORATION LIMITED |
Liu Shaoyong |
Chairman |
Shanghai, the Peoples Republic of China |
26 October 2018 |
As at the date of this announcement, the directors of the Company include Liu Shaoyong (Chairman), Ma Xulun (Vice Chairman, President), Lin Wanli (Independent non-executive Director), Li Ruoshan (Independent non-executive Director), Ma Weihua (Independent non-executive Director), Shao Ruiqing (Independent non-executive Director), Cai Hongping (Independent nonexecutive Director) and Yuan Jun (Employee Representative Director).
9
4. | APPENDICES |
4.1 | Financial Statements |
China Eastern Airlines Corporation Limited |
Consolidated | and Companys Balance Sheet as at 30 September 2018 |
RMB | million |
30 September 2018 Consolidated |
31 December 2017 Consolidated |
30 September 2018 Company |
31 December 2017 Company |
|||||||||||||
Asset |
||||||||||||||||
Current asset |
||||||||||||||||
Monetary capital |
3,789 | 4,656 | 3,271 | 3,914 | ||||||||||||
Derivative financial assets |
93 | | 93 | | ||||||||||||
Bills receivable and trade receivable |
2,163 | 2,124 | 1,630 | 2,812 | ||||||||||||
Prepayments |
978 | 580 | 306 | 180 | ||||||||||||
Other receivables |
8,397 | 4,857 | 11,742 | 15,639 | ||||||||||||
Inventory |
2,287 | 2,185 | 31 | 38 | ||||||||||||
Held for sale assets |
| 14 | | | ||||||||||||
Non-current assets due within one year |
48 | 76 | 38 | 69 | ||||||||||||
Other current assets |
3,243 | 3,801 | 3,187 | 3,608 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total current assets |
20,998 | 18,293 | 20,298 | 26,260 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Non-current assets |
||||||||||||||||
Available for sale financial assets |
| 800 | | 713 | ||||||||||||
Hedge instruments |
356 | 151 | 356 | 151 | ||||||||||||
Long-term equity investment |
2,342 | 2,211 | 15,254 | 15,104 | ||||||||||||
Other equity instruments investments |
1,562 | | 1,467 | | ||||||||||||
Investment properties |
287 | 302 | 18 | 27 | ||||||||||||
Fixed assets |
171,878 | 163,130 | 109,183 | 106,058 | ||||||||||||
Construction in progress |
28,096 | 28,780 | 27,321 | 28,077 | ||||||||||||
Intangible assets |
1,999 | 2,043 | 1,330 | 1,358 | ||||||||||||
Goodwill |
9,028 | 9,028 | 9,028 | 9,028 | ||||||||||||
Long-term deferred expenses |
1,659 | 1,543 | 1,307 | 1,308 | ||||||||||||
Deferred income tax assets |
112 | 122 | | 45 | ||||||||||||
Other non-current assets |
1,298 | 1,061 | 1,167 | 949 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total non-current assets |
218,617 | 209,171 | 166,431 | 162,818 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
239,615 | 227,464 | 186,729 | 189,078 | ||||||||||||
|
|
|
|
|
|
|
|
10
4.1 | Financial Statements (Contd) |
China Eastern Airlines Corporation Limited |
Consolidated | and Companys Balance Sheet as at 30 September 2018 (Contd) |
RMB | million |
30 September 2018 Consolidated |
31 December 2017 Consolidated |
30 September 2018 Company |
31 December 2017 Company |
|||||||||||||
Liabilities and shareholders equity |
||||||||||||||||
Current liabilities |
||||||||||||||||
Short-term borrowings |
12,935 | 24,959 | 21,464 | 27,202 | ||||||||||||
Hedge instruments |
43 | 324 | 43 | 324 | ||||||||||||
Notes payable and trade payable |
13,203 | 12,209 | 9,641 | 11,169 | ||||||||||||
Account collected in advance |
27 | 1,342 | 17 | 1,036 | ||||||||||||
Settlement of vouchers |
| 7,043 | | 6,869 | ||||||||||||
Contract liabilities |
8,813 | | 8,051 | | ||||||||||||
Staff remuneration payable |
2,645 | 3,034 | 1,934 | 2,007 | ||||||||||||
Tax payable |
1,966 | 2,076 | 789 | 944 | ||||||||||||
Other payables |
5,294 | 3,939 | 8,340 | 11,884 | ||||||||||||
Held for sale liabilities |
| 8 | | | ||||||||||||
Non-current liabilities due within one year |
20,058 | 15,391 | 13,195 | 9,153 | ||||||||||||
Other current liabilities |
12,000 | 10,000 | 12,000 | 10,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total current liabilities |
76,984 | 80,325 | 75,474 | 80,588 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Non-current liabilities |
||||||||||||||||
Long-term borrowings |
7,808 | 4,924 | 4,391 | 4,338 | ||||||||||||
Hedge instruments |
| 1 | | 1 | ||||||||||||
Bonds payable |
17,318 | 19,787 | 14,808 | 17,352 | ||||||||||||
Long-term payables |
67,211 | 58,791 | 41,874 | 38,740 | ||||||||||||
Long-term staff remuneration payable |
2,842 | 2,800 | 2,241 | 2,199 | ||||||||||||
Expected liabilities |
2,365 | 2,038 | 580 | 496 | ||||||||||||
Deferred income |
134 | 144 | 119 | 129 | ||||||||||||
Deferred income tax liabilities |
302 | 18 | 298 | | ||||||||||||
Other non-current liabilities |
2,935 | 2,118 | 1,914 | 1,242 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total non-current liabilities |
100,915 | 90,621 | 66,225 | 64,497 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
177,899 | 170,946 | 141,699 | 145,085 | ||||||||||||
|
|
|
|
|
|
|
|
11
4.1 | Financial Statements (Contd) |
China Eastern Airlines Corporation Limited |
Consolidated | and Companys Balance Sheet as at 30 September 2018 (Contd) |
RMB | million |
30 September 2018 Consolidated |
31 December 2017 Consolidated |
30 September 2018 Company |
31 December 2017 |
|||||||||||||
Liabilities and shareholders equity |
||||||||||||||||
Shareholders equity |
||||||||||||||||
Share capital |
14,467 | 14,467 | 14,467 | 14,467 | ||||||||||||
Capital reserves |
26,760 | 26,760 | 27,470 | 27,470 | ||||||||||||
Other comprehensive income |
-1,850 | -2,540 | -1,194 | -1,909 | ||||||||||||
Surplus reserves |
540 | 540 | 540 | 540 | ||||||||||||
Undistributed profits |
17,992 | 13,879 | 3,747 | 3,425 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total equity attributable to shareholders of the parent company |
57,909 | 53,106 | 45,030 | 43,993 | ||||||||||||
Minority interests |
3,807 | 3,412 | ||||||||||||||
|
|
|
|
|||||||||||||
Total shareholders equity |
61,716 | 56,518 | 45,030 | 43,993 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities and shareholders equity |
239,615 | 227,464 | 186,729 | 189,078 | ||||||||||||
|
|
|
|
|
|
|
|
The financial statements are signed by:
Legal representative: Liu Shaoyong
Officer-in-charge of accounting: Ma Xulun
Officer-in-charge of the accounting department: Wu Yongliang
12
4.1 | Financial Statements (Contd) |
China Eastern Airlines Corporation Limited |
Consolidated and Companys Income Statement |
For the nine months ended 30 September 2018 |
RMB million |
Jul to Sep 2018 Consolidated |
Jul to Sep 2017 Consolidated |
Jan to Sep 2018 Consolidated |
Jan to Sep 2017 Consolidated |
Jul to Sep 2018 |
Jul to Sep 2017 |
Jan to Sep 2018 |
Jan to Sep 2017 |
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Revenue |
33,456 | 29,485 | 87,878 | 77,505 | 19,879 | 17,573 | 52,074 | 45,793 | ||||||||||||||||||||||||
Less: Operating costs |
26,630 | 23,022 | 74,419 | 65,643 | 16,202 | 14,201 | 45,447 | 39,753 | ||||||||||||||||||||||||
Business tax and surcharges |
113 | 62 | 275 | 197 | 51 | 14 | 117 | 54 | ||||||||||||||||||||||||
Selling expenses |
1,600 | 1,535 | 4,467 | 4,196 | 1,179 | 1,147 | 3,272 | 3,104 | ||||||||||||||||||||||||
Administrative expenses |
803 | 767 | 2,209 | 2,060 | 505 | 492 | 1,436 | 1,279 | ||||||||||||||||||||||||
Research and development expenses |
20 | 23 | 62 | 69 | 20 | 19 | 61 | 57 | ||||||||||||||||||||||||
Finance expenses |
2,550 | 322 | 5,032 | 1,101 | 1,993 | 225 | 4,026 | 951 | ||||||||||||||||||||||||
Including: Interest expenses |
892 | 927 | 2,762 | 2,331 | 342 | 354 | 994 | 830 | ||||||||||||||||||||||||
Interest income |
15 | 41 | 67 | 70 | 13 | 90 | 62 | 115 | ||||||||||||||||||||||||
Assets impairment loss |
| 7 | 4 | 16 | | 7 | | 7 | ||||||||||||||||||||||||
Credit impairment loss |
| | 2 | | | | 1 | | ||||||||||||||||||||||||
Add: Other income |
1,050 | 975 | 3,865 | 3,714 | 534 | 550 | 2,193 | 2,262 | ||||||||||||||||||||||||
Investment gains |
85 | 91 | 175 | 2,006 | 178 | 153 | 286 | 1,141 | ||||||||||||||||||||||||
Including: Investment gains in associates and joint ventures |
64 | 68 | 149 | 212 | 64 | 68 | 167 | 213 | ||||||||||||||||||||||||
Gains arising from changes in fair value |
38 | | 281 | | 38 | | 281 | | ||||||||||||||||||||||||
Gains from disposal of assets |
36 | | 30 | | | | 2 | | ||||||||||||||||||||||||
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Operating profit |
2,949 | 4,813 | 5,759 | 9,943 | 679 | 2,171 | 476 | 3,991 | ||||||||||||||||||||||||
Add: Non-operating income |
218 | 368 | 587 | 1,027 | 188 | 296 | 467 | 889 | ||||||||||||||||||||||||
Less: Non-operating expenses |
29 | 25 | 37 | 35 | 20 | 24 | 26 | 28 | ||||||||||||||||||||||||
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Total profits |
3,138 | 5,156 | 6,309 | 10,935 | 847 | 2,443 | 917 | 4,852 | ||||||||||||||||||||||||
Less: Income tax expenses |
706 | 1,287 | 1,371 | 2,439 | 222 | 645 | 197 | 1,196 | ||||||||||||||||||||||||
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Net profit |
2,432 | 3,869 | 4,938 | 8,496 | 625 | 1,798 | 720 | 3,656 | ||||||||||||||||||||||||
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Classification according to the continuity of operation |
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Continuous operation net profit |
2,432 | 3,869 | 4,938 | 8,496 | ||||||||||||||||||||||||||||
Discontinued operation net profit |
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Classification according to ownership |
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Net profit attributable to shareholders of the parent company |
2,207 | 3,568 | 4,490 | 7,915 | ||||||||||||||||||||||||||||
Profit or loss of minority interests |
225 | 301 | 448 | 581 |
13
4.1 | Financial Statements (Contd) |
China Eastern Airlines Corporation Limited |
Consolidated and Companys Income Statement (Contd) |
For the nine months ended 30 September 2018 |
RMB million |
Jul to Sep 2018 Consolidated |
Jul to Sep 2017 Consolidated |
Jan to Sep 2018 Consolidated |
Jan to Sep 2017 Consolidated |
Jul to Sep 2018 Company |
Jul to Sep 2017 Company |
Jan to Sep 2018 Company |
Jan to Sep 2017 Company |
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Other comprehensive income, net of tax |
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Other comprehensive income that cannot be reclassified into profit or loss |
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Changes arising from re-measuring defined benefit plan |
35 | 181 | (91 | ) | 365 | 26 | 181 | (64 | ) | 332 | ||||||||||||||||||||||
Other comprehensive income that cannot be reclassified to profit or loss under the equity method |
(3 | ) | | (19 | ) | 9 | (3 | ) | | (19 | ) | 9 | ||||||||||||||||||||
Fair value changes of other equity instruments investments |
| | (7 | ) | 33 | | | (6 | ) | 17 | ||||||||||||||||||||||
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Other comprehensive income that will be reclassified into profit or loss |
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Other comprehensive income that can be reclassified to profit or loss under the equity method |
| 4 | | | | 4 | | | ||||||||||||||||||||||||
Fair value changes of available-or-sale financial assets |
| (66 | ) | | | | (66 | ) | | | ||||||||||||||||||||||
Cash flow hedge reserves |
30 | (104 | ) | 140 | (241 | ) | 30 | (104 | ) | 140 | (207 | ) | ||||||||||||||||||||
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Other comprehensive income, net of tax |
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Including: |
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Other comprehensive income, net of tax, attributable to shareholders of the parent company |
62 | 15 | 23 | 160 | ||||||||||||||||||||||||||||
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Other comprehensive income, net of tax, attributable to minority interests |
| | | 6 | ||||||||||||||||||||||||||||
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Total comprehensive income |
2,494 | 3,884 | 4,961 | 8,662 | ||||||||||||||||||||||||||||
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Including: |
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Total comprehensive income attributable to shareholders of the parent company |
2,269 | 3,583 | 4,513 | 8,075 | ||||||||||||||||||||||||||||
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Total comprehensive income attributable to minority interests |
225 | 301 | 448 | 587 | ||||||||||||||||||||||||||||
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Earnings per share |
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Basic earnings per share (RMB) |
0.15 | 0.25 | 0.31 | 0.55 | ||||||||||||||||||||||||||||
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Diluted earnings per share (RMB) |
0.15 | 0.25 | 0.31 | 0.55 | ||||||||||||||||||||||||||||
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14
4.1 | Financial Statements (Contd) |
China Eastern Airlines Corporation Limited |
Consolidated and Companys Cash Flow Statement for the period from January to September 2018 (Unaudited) |
RMB million |
January to September 2018 Consolidated |
January to September 2017 Consolidated |
January to September 2018 Company |
January to September 2017 Company |
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1. Cash flow from operating activities |
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Cash received from sales of goods and provision of labour services |
96,324 | 81,236 | 66,372 | 50,622 | ||||||||||||
Tax refund received |
39 | 123 | 25 | 60 | ||||||||||||
Other cash received from operating activities |
9,356 | 9,862 | 8,987 | 9,592 | ||||||||||||
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Sub-total of cash inflow from operating activities |
105,719 | 91,221 | 75,384 | 60,274 | ||||||||||||
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Cash paid for purchase of goods and receiving of labour services |
(60,427 | ) | (52,754 | ) | (45,877 | ) | (35,501 | ) | ||||||||
Cash paid to and for employees |
(14,547 | ) | (14,038 | ) | (7,739 | ) | (7,001 | ) | ||||||||
Taxes paid |
(4,153 | ) | (4,014 | ) | (1,353 | ) | (2,124 | ) | ||||||||
Other cash paid for operating activities |
(5,520 | ) | (5,887 | ) | (6,852 | ) | (5,293 | ) | ||||||||
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Sub-total of cash outflow from operating activities |
(84,647 | ) | (76,693 | ) | (61,821 | ) | (49,919 | ) | ||||||||
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Net cash flows from operating activities |
21,072 | 14,528 | 13,563 | 10,355 | ||||||||||||
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15
4.1 | Financial Statements (Contd) |
China Eastern Airlines Corporation Limited |
Consolidated and Companys Cash Flow Statement for the period from January to September 2018 (Contd) (Unaudited) |
RMB million |
January to September 2018 Consolidated |
January to September 2017 Consolidated |
January to September 2018 Company |
January to September 2017 Company |
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2. | Cash flow from investing activities |
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Cash received from disposal of investment |
| 12 | | 266 | ||||||||||||||
Investment income in cash |
71 | 70 | 167 | 173 | ||||||||||||||
Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets |
789 | 224 | 360 | 115 | ||||||||||||||
Net cash received from disposal of subsidiaries and other operating unit |
(11 | ) | 1,897 | | 2,433 | |||||||||||||
Other cash received from investing activities |
741 | 70 | 736 | 115 | ||||||||||||||
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Sub-total of cash inflow from investing activities |
1,590 | 2,273 | 1,263 | 3,102 | ||||||||||||||
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Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets |
(14,910 | ) | (19,140 | ) | (12,890 | ) | (17,818 | ) | ||||||||||
Investments paid in cash |
(16 | ) | (33 | ) | (16 | ) | (283 | ) | ||||||||||
Other cash paid for investing activities |
(22 | ) | (4 | ) | | | ||||||||||||
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Sub-total of cash outflow from investing activities |
(14,948 | ) | (19,177 | ) | (12,906 | ) | (18,101 | ) | ||||||||||
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Net cash flow from investing activities |
(13,358 | ) | (16,904 | ) | (11,643 | ) | (14,999 | ) | ||||||||||
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3. | Cash flow from financing activities |
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Cash received from borrowings |
53,859 | 71,972 | 54,309 | 66,319 | ||||||||||||||
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Sub-total of cash inflow from financing activities |
53,859 | 71,972 | 54,309 | 66,319 | ||||||||||||||
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Cash paid for repayment of indebtedness |
(51,788 | ) | (54,639 | ) | (48,939 | ) | (51,846 | ) | ||||||||||
Cash payments for distribution of dividends, profits or payments of interest expense |
(3,792 | ) | (2,951 | ) | (3,185 | ) | (2,305 | ) | ||||||||||
Other cash paid for financing activities |
(6,904 | ) | (9,375 | ) | (4,736 | ) | (4,584 | ) | ||||||||||
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16
4.1 | Financial Statements (Contd) |
China Eastern Airlines Corporation Limited |
Consolidated and Companys Cash Flow Statement for the period from January to September 2018 (Contd) (Unaudited) |
RMB million |
January to September 2018 Consolidated |
January to September 2017 Consolidated |
January to September 2018 Company |
January to September 2017 Company |
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Sub-total of cash outflow from financing activities |
(62,484 | ) | (66,965 | ) | (56,860 | ) | (58,735 | ) | ||||||||||
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Net cash flow from financing activities |
(8,625 | ) | 5,007 | (2,551 | ) | 7,584 | ||||||||||||
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4. | Effect of changes in exchange rate on cash and cash equivalents | 45 | 5 | 1 | (10 | ) | ||||||||||||
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5. | Net increase in cash and cash equivalents | (866 | ) | 2,636 | (630 | ) | 2,930 | |||||||||||
Add: Balance of cash and cash equivalents at the beginning of the period | 4,616 | 1,695 | 3,882 | 976 | ||||||||||||||
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6. | Balance of cash and cash equivalents at the end of the year | 3,750 | 4,331 | 3,252 | 3,906 | |||||||||||||
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17