Financial Performance - Operating revenue for Q1 2024 reached RMB 44,601 million, an increase of 30.97% compared to the same period last year[4]. - Net profit attributable to shareholders was RMB 756 million, with a significant recovery in passenger revenue due to the improving air travel market[4][7]. - The net profit for Q1 2024 was RMB 1,256 million, a significant recovery from a net loss of RMB 1,724 million in Q1 2023[22]. - The operating profit for Q1 2024 was RMB 1,519 million, compared to an operating loss of RMB 1,467 million in the same quarter last year[20]. - The revenue for Q1 2024 reached RMB 44,601 million, up from RMB 34,055 million in Q1 2023, marking a growth of 31%[19]. - The earnings per share for Q1 2024 was RMB 0.04, recovering from a loss of RMB 0.10 per share in Q1 2023[22]. Cash Flow and Liquidity - Net cash flow from operating activities amounted to RMB 9,777 million, reflecting an 11.00% increase year-on-year[4]. - In Q1 2024, cash inflow from operating activities was RMB 49,919 million, up from RMB 38,946 million in Q1 2023, representing a 28.5% increase[23]. - The cash inflow from investment activities was RMB 327 million in Q1 2024, down from RMB 987 million in Q1 2023, indicating a decrease of 66.9%[24]. - The ending cash and cash equivalents balance for Q1 2024 was RMB 9,692 million, down from RMB 18,948 million in Q1 2023[25]. - The company received RMB 1,529 million in other cash related to operating activities in Q1 2024, compared to RMB 856 million in Q1 2023, marking an increase of 78.5%[23]. - The company paid RMB 1,088 million in taxes in Q1 2024, an increase from RMB 737 million in Q1 2023, representing a 47.5% rise[24]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 313,729 million, up 1.46% from the end of the previous year[4]. - The total assets increased to RMB 313,729 million as of March 31, 2024, up from RMB 309,226 million on December 31, 2023, representing a growth of 1.62%[18]. - The total liabilities rose to RMB 260,476 million as of March 31, 2024, compared to RMB 257,229 million at the end of 2023, indicating an increase of 0.87%[17]. - Accounts receivable rose to RMB 4,406 million, up from RMB 3,322 million, indicating an increase of about 32.6%[14]. - The company’s inventory increased to RMB 1,798 million from RMB 1,565 million, marking a rise of approximately 14.9%[15]. - The company’s total non-current assets include fixed assets valued at RMB 93,271 million, slightly up from RMB 93,076 million[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 170,953[8]. - The largest shareholder, China Southern Airlines Group Co., Ltd., holds 51.90% of the shares[8]. - The company reported a total of 2,648,836,036 shares held by related shareholders through subsidiaries, indicating significant ownership concentration[9]. Future Outlook - The company is focusing on expanding its passenger services as the market continues to recover[7]. - Future outlook remains positive with expectations of continued growth in passenger revenue[7]. Investment and Guarantees - The company provided guarantees totaling USD 54.39 million for 43 SPVs, equivalent to approximately RMB 385.90 million based on the exchange rate of 7.0950[12]. - The company has established SPVs with guaranteed amounts, including USD 5.88 million for SPV 9 and USD 5.17 million for SPV 10, among others[10]. - Long-term equity investments increased to RMB 6,848 million from RMB 6,718 million, showing a growth of about 1.9%[15]. Other Financial Metrics - The weighted average return on equity increased by 5.21 percentage points to 2.03%[4][7]. - The company reported non-recurring gains and losses totaling RMB 210 million for the period[5].
中国南方航空股份(01055) - 2024 Q1 - 季度业绩