Financial Performance - China Southern Airlines reported its unaudited interim results for the six months ended June 30, 2024[1]. - The company achieved a passenger turnover of 100 billion RPK, representing a year-on-year increase of 15%[2]. - Revenue from passenger transport reached 50 billion RMB, a 20% increase compared to the previous year[5]. - Operating revenue for the first half of 2024 reached RMB 84,790 million, an increase of 18.04% compared to RMB 71,830 million in the same period of 2023[10]. - The net loss attributable to equity holders of the company improved to RMB (1,054) million, a 63.36% reduction from RMB (2,877) million in the first half of 2023[10]. - Basic and diluted loss per share improved to RMB (0.06) from RMB (0.16), reflecting a 62.50% reduction in loss per share[11]. - The company reported a net loss of RMB 408 million for the six months ended June 30, 2024, significantly improved from a net loss of RMB 2,481 million in the prior year[162]. - Transportation revenue reached RMB 80,494 million, up 18% from RMB 68,138 million year-over-year[161]. Capacity and Operations - The available seat kilometers (ASK) increased by 12% to 120 billion, indicating a strong capacity expansion[3]. - The load factor improved to 82%, up from 78% in the same period last year[4]. - The total passenger kilometers (RPK) increased by 33.46% to 145,636.90 million compared to 109,127.69 million in the same period last year[31]. - The international RPK saw a significant rise of 178.14%, reaching 32,570.62 million from 11,710.03 million[31]. - The total available seat kilometers (ASK) grew by 21.72% to 175,321.27 million from 144,030.87 million year-on-year[32]. - The average passenger load factor improved by 7.30 percentage points to 83.07% from 75.77%[33]. - The company plans to expand its fleet by adding 20 new aircraft in the next 12 months[6]. - Total flight kilometers for the first half of 2024 were 962.74 million, a 17.40% increase from 820.05 million kilometers in the same period of 2023[34]. Financial Position and Assets - Total assets as of June 30, 2024, amounted to RMB 315,422 million, a 1.88% increase from RMB 309,596 million at the end of 2023[10]. - The equity attributable to equity holders of the company as of June 30, 2024, was RMB 35,945 million, a decrease of 3.04% from RMB 37,071 million at the end of 2023[10]. - Total liabilities increased by 2.47% to RMB 263,589 million as of June 30, 2024[45]. - The asset-liability ratio as of June 30, 2024, was 83.57%, up 0.48 percentage points from 83.09% on December 31, 2023[47]. - The company’s total equity decreased to RMB 51,833 million from RMB 52,367 million, a decline of 1.02%[164]. Cash Flow and Investments - Net cash inflow from operating activities decreased by 23.40% to RMB 12,893 million, down from RMB 16,831 million in the same period last year[10]. - Cash and cash equivalents stood at RMB 9,553 million, slightly up from RMB 9,531 million, indicating a marginal increase of 0.23%[163]. - The company recorded a net increase in cash and cash equivalents of RMB 27 million for the six months ended June 30, 2024, contrasting with a net decrease of RMB 6,863 million in the same period of 2023[167]. - Net cash outflow from investing activities was RMB 9,776 million, compared to RMB 4,505 million in the previous year, indicating a significant increase in investment expenditures[167]. Strategic Initiatives - The company is exploring potential mergers and acquisitions to enhance its market position in Asia[8]. - Future guidance indicates a projected revenue growth of 10-15% for the second half of 2024[9]. - The company is focusing on enhancing its digital services to improve customer experience and engagement[10]. - The company has set a target to build a world-class aviation transport enterprise by 2025, focusing on core aviation transport and collaborative development with pillar industries[19]. - The company is actively promoting digital transformation and enhancing its IT research and development ecosystem[28]. Environmental and Social Responsibility - The company adheres to green development principles and continuously improves pollution prevention and environmental management levels[86]. - The company achieved a significant reduction in carbon emissions, with fuel consumption per ton-kilometer decreasing to 2.572 tons per 10,000 ton-kilometers[102]. - The company has established an emergency management system for environmental incidents, enhancing its response capabilities[99]. - The company has engaged in various charitable projects, including the "Standing Plan" and "Angel Journey," to support children in need[105]. Risk Management and Compliance - The company has not made any additional disclosures in the interim financial report regarding the new disclosure requirements introduced by the amendments to IFRS 7[175]. - The company’s risk management policies have remained unchanged since December 31, 2023[176]. - There were no bankruptcy restructuring matters during the reporting period[116]. - The company did not face any significant litigation or arbitration matters during the reporting period[116].
中国南方航空股份(01055) - 2024 - 中期业绩