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 November 2021
Commission File Number: 001-14550
China Eastern Airlines Corporation Limited
(Translation of Registrant’s name into English)
Board Secretariat’s 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 | November 1, 2021 | 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 Company’s filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Company’s views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Company’s 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 Company’s views as of any date subsequent to the date of this announcement.
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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.
(A joint stock limited company incorporated in the People’s Republic of China with limited liability) |
(Stock code: 00670)
2021 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 2021 were not audited, and were prepared in accordance with the China Accounting Standards for Business Enterprises.
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 2021 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.
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Liu Shaoyong, the person-in-charge of the Company, Li Yangmin, the officer-in-charge of accounting of the Company, and Zhou Qimin, 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 this third quarterly report of the Company are unaudited.
1. | KEY FINANCIAL DATA |
(1) | Key accounting data and financial indicators |
Unit: million | Currency: RMB | |||||||||||||||
Increase/decrease | ||||||||||||||||
from the | ||||||||||||||||
beginning of the | ||||||||||||||||
Increase/decrease | year to the end of | |||||||||||||||
for the reporting | From the | the reporting | ||||||||||||||
period compared | beginning of the | period compared | ||||||||||||||
with the same | year to the end | with the same | ||||||||||||||
For the reporting | period last year | of the reporting | period last year | |||||||||||||
Item | period | (%) | period | (%) | ||||||||||||
Revenue | 17,791 | 3.61 | 52,501 | 24.12 | ||||||||||||
Net profit attributable to shareholders of the listed company | -2,954 | N/A | -8,162 | N/A | ||||||||||||
Net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss | -3,049 | N/A | -8,668 | N/A | ||||||||||||
Net cash flow from operating activities | N/A | N/A | 12,828 | 12,989.80 | ||||||||||||
Basic earnings per share (RMB/share) | -0.1804 | N/A | -0.4983 | N/A | ||||||||||||
Diluted earnings per share (RMB/share) | -0.1804 | N/A | -0.4983 | N/A | ||||||||||||
Weighted average return on net assets (%) | -6.37 | | Decreased by 5.38 pt | | -16.59 | | Decreased by 1.81 pt | |
Increase/decrease | ||||||||||||
as at the end | ||||||||||||
of the reporting | ||||||||||||
period compared | ||||||||||||
As at the | with the end | |||||||||||
end of the | As at the end | of last year | ||||||||||
Item | reporting period | of last year | (%) | |||||||||
Total assets | 285,468 | 282,408 | 1.08 | |||||||||
Owners’ equity attributable to shareholders of the listed company | 44,891 | 54,007 | -16.88 |
Note: | The “reporting period” refers to the three-month period from the beginning of this quarter to the end of this quarter, the same for below. |
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(2) | Non-recurring profit or loss items and relevant amounts |
Unit: million | Currency: RMB | |||||||
Amount from | ||||||||
the beginning | ||||||||
of the year to | ||||||||
the end of | ||||||||
Amount for the | the reporting | |||||||
Item | reporting period | period | ||||||
Profit or loss from disposal of non-current assets (including the write-off portion for which provision for impairment of assets is made) | -4 | 103 | ||||||
Government grants recognised in current profit or loss, excluding those closely related to the ordinary operations of the Company and granted on an ongoing basis in fixed amount or fixed quota in accordance with government policies and regulations | 77 | 454 | ||||||
Profit or loss from change in fair value of held-for-trading financial assets and held-for-trading financial liabilities, and investment gains from disposal of held-for-trading financial assets, held-for-trading financial liabilities and available-for-sale financial assets, other than effective hedging business in the ordinary operations of the Company | 4 | 7 | ||||||
Non-operating income and expenses other than the above | 45 | 96 | ||||||
Less: Effect on income tax | 26 | 147 | ||||||
Effect on minority interests (after tax) | 1 | 7 | ||||||
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| |||||
Total | 95 | 506 | ||||||
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Description of the circumstances in which the non-recurring profit or loss items listed in the “Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring Profit or Loss” (《公開發行證券的公司信息披露解釋性公告第 1 號 — 非經常性損益》) are defined as recurring profit or loss items
☐ Applicable ☒ Not Applicable
6
(3) | Details and reasons for changes in key accounting data and financial indicators |
☒ Applicable ☐ Not Applicable
Item | Change (%) | Major reasons | ||||
Net profit attributable to shareholders of the listed company (for the reporting period) | N/A | During the reporting period, net profit attributable to shareholders of the listed company amounted to RMB-2,954 million, as compared to RMB-563 million for the same period last year, mainly attributable to the decline in demand of the passenger transportation market during the reporting period due to the impact of COVID-19, as well as the increase in jet fuel prices and the slowdown of appreciation of Renminbi as compared to the same period last year. | ||||
Net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss (for the reporting period) | N/A | During the reporting period, net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss amounted to RMB-3,049 million, as compared to RMB-826 million for the same period last year, mainly attributable to the decline in demand of the passenger transportation market during the reporting period due to the impact of COVID-19, as well as the increase in jet fuel prices and the slowdown of appreciation of Renminbi as compared to the same period last year. | ||||
Net cash flow from operating activities (from the beginning of the year to the end of the reporting period) | 12,989.80 | From January to September 2021, domestic passenger travel demand rebounded as compared to the same period last year, and the Company’s revenue increased. | ||||
Basic earnings per share (RMB/share) (for the reporting period) | N/A | During the reporting period, basic earnings per share was RMB-0.1804, as compared to RMB-0.0344 for the same period last year, mainly attributable to the decline in operating results from July to September 2021. | ||||
Diluted earnings per share (RMB/share) (for the reporting period) | N/A | During the reporting period, diluted earnings per share was RMB-0.1804, as compared to RMB-0.0344 for the same period last year, mainly attributable to the decline in operating results from July to September 2021. |
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2. | INFORMATION OF SHAREHOLDERS |
(1) | Total number of ordinary shareholders and number of preferred shareholders with restored voting rights and shareholding of the 10 largest shareholders |
Unit: share | ||||
Total number of ordinary shareholders as at the end of the reporting period | 181,305 | |||
Total number of preferred shareholders with restored voting rights as at the end of the reporting period (if any) | N/A |
Shareholding of the 10 largest shareholders | ||||||||||||||||||||
Nature of shareholder | Number of shares held | Percentage of shares held | Number of shares with trading moratorium held | Pledged, marked or locked-up | ||||||||||||||||
Name of shareholder | (%) | Status | Number | |||||||||||||||||
China Eastern Air Holding Company Limited | State-owned legal person | 5,072,922,927 | 30.97 | 0 | None | 0 | ||||||||||||||
HKSCC Nominees Limited | Overseas legal person | 4,701,241,905 | 28.70 | 517,677,777 | Unknown | 0 | ||||||||||||||
Shanghai Jidaohang Enterprise Management Company Limited ( 上海吉道航企業管理有限公司 ) | Domestic non- state-owned legal person | 589,041,096 | 3.60 | 589,041,096 | None | 0 | ||||||||||||||
China National Aviation Fuel Holding Company Limited | State-owned legal person | 502,767,895 | 3.07 | 0 | None | 0 | ||||||||||||||
Delta Air Lines, Inc. | Overseas legal person | 465,910,000 | 2.84 | 0 | None | 0 | ||||||||||||||
Shanghai Licheng Information Technology Consulting Co., Ltd. ( 上海勵程信息技術諮詢有限公司) | Domestic non- state-owned legal person | 465,838,509 | 2.84 | 0 | Pledged | 285,838,509 | ||||||||||||||
CES Finance Holding Co., Ltd. ( 東航金控有限責任公司 ) | State-owned legal person | 457,317,073 | 2.79 | 0 | None | 0 | ||||||||||||||
China Securities Finance Corporation Limited | State-owned legal person | 429,673,382 | 2.62 | 0 | None | 0 | ||||||||||||||
Shanghai Juneyao (Group) Co., Ltd. | Domestic non- state-owned legal person | 311,831,909 | 1.90 | 311,831,909 | Pledged | 311,831,909 | ||||||||||||||
China Structural Reform Fund Corporation Limited | State-owned legal person | 273,972,602 | 1.67 | 273,972,602 | None | 0 |
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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 | ||||||||||
China Eastern Air Holding Company Limited | 5,072,922,927 | RMB ordinary shares | 5,072,922,927 | |||||||
HKSCC Nominees Limited | 4,183,564,128 | Overseas listed foreign shares | 4,183,564,128 | |||||||
China National Aviation Fuel Holding Company Limited | 502,767,895 | RMB ordinary shares | 502,767,895 | |||||||
Delta Air Lines, Inc. | 465,910,000 | Overseas listed foreign shares | 465,910,000 | |||||||
Shanghai Licheng Information Technology Consulting Co., Ltd. | 465,838,509 | RMB ordinary shares | 465,838,509 | |||||||
CES Finance Holding Co., Ltd. ( 東航金控有限責任公司 ) | 457,317,073 | RMB ordinary shares | 457,317,073 | |||||||
China Securities Finance Corporation Limited | 429,673,382 | RMB ordinary shares | 429,673,382 | |||||||
China COSCO Shipping Corporation Limited | 232,919,254 | RMB ordinary shares | 232,919,254 | |||||||
Hong Kong Securities Clearing Company Limited | 182,167,508 | RMB ordinary shares | 182,167,508 | |||||||
Agricultural Bank of China Limited — Guangfa Balance Selected Mixed Type Securities Investment Fund ( 中國農業銀行股份有限公司 — 廣發均衡優選混合型證券投資基金) | 105,598,491 | RMB ordinary shares | 105,598,491 |
Description of connected relationship or activities in concert among the above shareholders | Among the 4,701,241,905 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. China Eastern Air Holding Company Limited (“CEA Holding”) owns 100% equity interest in CES Finance Holding Co., Ltd. (“CES Finance”). CES Finance owns 100% equity interest in CES Global. Thus, CEA Holding directly or indirectly holds 8,156,480,000 shares of the Company, representing 49.80% of the total share capital of the Company. | |
Among the 4,701,241,905 shares held by HKSCC Nominees Limited, 546,769,777 shares are held by Shanghai Juneyao Airline Hong Kong Limited (“Juneyao Hong Kong”) in the capacity of beneficial owner. Shanghai Juneyao (Group) Co., Ltd. (“Juneyao Group”) is the controlling shareholder of Juneyao Airlines Co., Ltd. (“Juneyao Airlines”), and Juneyao Airlines owns 100% equity interest in Shanghai Jidaohang Enterprise Management Company Limited and Juneyao Hong Kong. Thus, Juneyao Group directly or indirectly holds 1,679,042,919 shares of the Company, representing 10.25% of the total share capital of the Company. | ||
The Company is not aware of any other connected relationship or activities in concert among the 10 largest holders of shares without trading moratorium. | ||
Description of the 10 largest shareholders and the 10 largest holders of shares without trading moratorium engaging in margin financing and securities lending as well as margin and securities refinancing business (if any) | N/A |
As at the end of the reporting period, CES Global has pledged in aggregate 1,450,000,000 H shares of the Company; and Juneyao Hong Kong has pledged in aggregate 232,000,000 H shares of the Company.
9
3. | OTHER REMINDERS |
Other important information on the operating condition of the Company during the reporting period that investors need to be reminded of
☒ Applicable ☐ Not Applicable
(1) | On 8 July 2021, Eastern Air Overseas (Hong Kong) Corporation Limited ( 東航海外(香港)有限公司), a wholly-owned subsidiary of the Company in Hong Kong, issued overseas SGD500 million credit enhanced bonds with a maturity of 5 years and an annual interest rate of 2.00%. For details, please refer to the announcement of the Company published on the website of the Shanghai Stock Exchange and the website of the Hong Kong Stock Exchange on 9 July 2021. |
(2) | On 27 August 2021, at the 2021 second extraordinary general meeting of the Company, the “Resolution in Relation to the Adjustment to the Estimated Caps for the Daily Connected Transaction of the Exclusive Operation of Freight Business for Passenger Aircraft between the Company and China Cargo Airlines Co., Limited for 2021 and 2022” was considered and approved, and the estimated caps for the daily connected transaction of the exclusive operation of freight business for passenger aircraft for 2021 and 2022 were agreed to be adjusted to RMB9 billion and RMB8 billion, respectively. For details, please refer to the announcement of the Company published on the website of the Shanghai Stock Exchange and the website of the Hong Kong Stock Exchange on 27 August 2021. |
(3) | On 30 August 2021, the Company and its subsidiaries, namely Shanghai Airlines Co., Limited ( 上海航空有限公司 ), China Eastern Airlines Yunnan Co., Limited ( 東方航空雲南有限公司 ), China Eastern Airlines Jiangsu Co., Limited ( 中國東方航空江蘇有限公司 ) and China Eastern Airlines Wuhan Limited ( 中國東方航空武漢有限責任公司 ), on one hand, and China Eastern Air Catering Investment Co., Ltd. ( 東方航空食品投資有限公司 ) (“Eastern Air Catering”), on the other hand, entered into the Agreement on the Transfer of Assets of Catering Trolleys and Aircraft On-Board Supplies of China Eastern Airlines Corporation Limited to China Eastern Air Catering Investment Co., Ltd., pursuant to which, the Company and its subsidiaries shall transfer their assets of catering trolleys and aircraft on-board supplies suitable for transfer in a total amount of RMB123,412,000 (tax exclusive) to Eastern Air Catering. For details, please refer to the announcement of the Company published on the website of the Shanghai Stock Exchange and the website of the Hong Kong Stock Exchange on 30 August 2021. |
(4) | On 30 August 2021, at the fourth ordinary meeting of the Board of the Company, the “Resolution in Relation to the Adjustment to the Estimated Caps for the Daily Connected Transactions of the Property Leasing and Construction and Management Agency Business for 2021 and 2022” was considered and approved, and the estimated caps for the daily connected transactions of the property leasing and construction and management agency business for 2021 and 2022 were agreed to be adjusted to RMB287 million and RMB330 million, respectively, and the estimated caps for the total value of the right-of-use assets involved in the property leasing for 2021 and 2022 were agreed to be adjusted to RMB735 million and RMB828 million, respectively. For details, please refer to the announcement of the Company published on the website of the Shanghai Stock Exchange and the website of the Hong Kong Stock Exchange on 30 August 2021. |
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(5) | On 27 September 2021, the Issuance Review Committee of the China Securities Regulatory Commission considered and approved the Company’s application for non-public issuance of A shares to China Eastern Air Holding Company Limited (“CEA Holding”) (its controlling shareholder), and agreed to the Company’s non-public issuance of 2,494,930,875 A shares to CEA Holding, with the amount of financing not exceeding RMB10.828 billion. For details, please refer to the announcement of the Company published on the website of the Shanghai Stock Exchange and the website of the Hong Kong Stock Exchange on 27 September 2021. |
(6) | On 30 September 2021, the Company, on one hand, and CEA Holding (its controlling shareholder) and its subsidiary, i.e. Eastern Air Catering, on the other hand, entered into the China Eastern Air Catering Investment Co., Ltd. Capital Increase Agreement, pursuant to which, the Company and CEA Holding shall increase the capital contribution to Eastern Air Catering by an aggregate amount of RMB310 million by way of cash in proportion to their respective shareholdings, of which the Company shall contribute RMB139.5 million and CEA Holding shall contribute RMB170.5 million. For details, please refer to the announcement of the Company published on the website of the Shanghai Stock Exchange and the website of the Hong Kong Stock Exchange on 30 September 2021. |
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4. | QUARTERLY FINANCIAL STATEMENTS |
(1) | Type of audit opinion |
☐ Applicable ☒ Not Applicable
(2) | Financial statements |
Consolidated Balance Sheet
30 September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | 30 September 2021 | 31 December 2020 | ||||||
Current assets: | ||||||||
Monetary capital | 10,844 | 7,663 | ||||||
Held-for-trading financial assets | 88 | 95 | ||||||
Derivative financial assets | — | 362 | ||||||
Trade receivables | 1,881 | 1,124 | ||||||
Prepayments | 378 | 123 | ||||||
Other receivables | 2,422 | 2,476 | ||||||
Inventory | 1,963 | 2,054 | ||||||
Held-for-sale assets | 2 | 2 | ||||||
Non-current assets due within one year | 359 | 11 | ||||||
Other current assets | 8,512 | 8,588 | ||||||
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Total current assets | 26,449 | 22,498 | ||||||
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Non-current assets: | ||||||||
Long-term equity investment | 2,329 | 2,387 | ||||||
Other equity instrument investments | 874 | 995 | ||||||
Other non-current financial assets | — | 37 | ||||||
Investment properties | 158 | 166 | ||||||
Fixed assets | 92,463 | 97,681 | ||||||
Construction in progress | 18,243 | 20,685 | ||||||
Right-of-use assets | 121,195 | 116,842 | ||||||
Intangible assets | 2,498 | 1,816 | ||||||
Goodwill | 9,028 | 9,028 | ||||||
Long-term deferred expenses | 2,112 | 2,412 | ||||||
Deferred income tax assets | 8,064 | 5,011 | ||||||
Other non-current assets | 2,055 | 2,850 | ||||||
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Total non-current assets | 259,019 | 259,910 | ||||||
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Total assets | 285,468 | 282,408 | ||||||
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(2) | Financial statements (Cont’d) |
Consolidated Balance Sheet (Cont’d)
30 September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | 30 September 2021 | 31 December 2020 | ||||||
Current liabilities: | ||||||||
Short-term borrowings | 29,291 | 21,966 | ||||||
Derivative financial liabilities | 4 | 3 | ||||||
Notes payables | 2,142 | 610 | ||||||
Trade payables | 13,413 | 12,281 | ||||||
Account collected in advance | 73 | 20 | ||||||
Contract liabilities | 3,188 | 3,671 | ||||||
Staff remuneration payable | 3,334 | 3,806 | ||||||
Tax payable | 1,452 | 1,401 | ||||||
Other payables | 6,073 | 6,119 | ||||||
Non-current liabilities due within one year | 18,853 | 23,181 | ||||||
Other current liabilities | 7,236 | 26,750 | ||||||
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Total current liabilities | 85,059 | 99,808 | ||||||
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Non-current liabilities: | ||||||||
Long-term borrowings | 29,891 | 13,164 | ||||||
Bonds payable | 24,297 | 17,581 | ||||||
Lease liabilities | 84,374 | 82,178 | ||||||
Long-term payables | 924 | 1,047 | ||||||
Long-term staff remuneration payable | 2,523 | 2,582 | ||||||
Estimated liabilities | 7,276 | 6,966 | ||||||
Deferred income | 102 | 121 | ||||||
Deferred income tax liabilities | 13 | 13 | ||||||
Other non-current liabilities | 1,917 | 2,036 | ||||||
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Total non-current liabilities | 151,317 | 125,688 | ||||||
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Total liabilities | 236,376 | 225,496 | ||||||
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(2) | Financial statements (Cont’d) |
Consolidated Balance Sheet (Cont’d)
30 September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | 30 September 2021 | 31 December 2020 | ||||||
Owners’ equity (or shareholders’ equity): | ||||||||
Paid-up capital (or share capital) | 16,379 | 16,379 | ||||||
Capital reserves | 33,609 | 34,298 | ||||||
Other comprehensive income | -2,739 | -2,368 | ||||||
Surplus reserves | 782 | 782 | ||||||
Undistributed profits | -3,140 | 4,916 | ||||||
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Total owners’ equity (or shareholders’ equity) attributable to owners of the parent company | 44,891 | 54,007 | ||||||
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Minority interests | 4,201 | 2,905 | ||||||
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Total owners’ equity (or shareholders’ equity) | 49,092 | 56,912 | ||||||
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Total liabilities and owners’ equity (or shareholders’ equity) | 285,468 | 282,408 | ||||||
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Person-in-charge of the Company: Liu Shaoyong | Officer-in-charge of accounting: Li Yangmin | Officer-in-charge of the accounting department: Zhou Qimin |
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(2) | Financial statements (Cont’d) |
Consolidated Income Statement
January – September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
The first three quarters (January – September) of | The first three quarters (January – September) of | |||||||
Item | 2021 | 2020 | ||||||
I. Total revenue | 52,501 | 42,300 | ||||||
Of which: Revenue | 52,501 | 42,300 | ||||||
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II. Total operating costs | 67,880 | 59,060 | ||||||
Of which: Operating costs | 59,440 | 50,912 | ||||||
Taxes and surcharges | 172 | 117 | ||||||
Selling expenses | 2,316 | 2,622 | ||||||
Administrative expenses | 2,525 | 2,274 | ||||||
Research and development expenses | 192 | 193 | ||||||
Finance costs | 3,235 | 2,942 | ||||||
Of which: Interest expenses | 4,326 | 3,972 | ||||||
Interest income | 238 | 112 | ||||||
Add: Other gains | 3,629 | 3,758 | ||||||
Investment gains (“-” indicating losses) | 158 | -69 | ||||||
Of which: Gains from investments in associates and joint ventures | 45 | -85 | ||||||
Gains arising from changes in fair value (“-” indicating losses) | -7 | -29 | ||||||
Credit impairment losses | -3 | -17 | ||||||
Asset impairment losses | -2 | -14 | ||||||
Gains from disposal of assets | — | 60 | ||||||
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III. Operating profit (“-” indicating loss) | -11,604 | -13,071 | ||||||
Add: Non-operating income | 166 | 269 | ||||||
Less: Non-operating expenses | 20 | 35 | ||||||
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IV. Total profits (“-” indicating total losses) | -11,458 | -12,837 | ||||||
Less: Income tax expenses | -2,878 | -3,156 | ||||||
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V. Net profit (“-” indicating net loss) | -8,580 | -9,681 | ||||||
(I) Classified by continuation of business | ||||||||
1. Net profit from continuing activities | -8,580 | -9,681 | ||||||
2. Net profit from discontinued activities | — | — | ||||||
(II) Classified by ownership | ||||||||
1. Net profit attributable to shareholders of the parent company (“-” indicating net loss) | -8,162 | -9,105 | ||||||
2. Minority interests (“-” indicating net loss) | -418 | -576 | ||||||
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(2) | Financial statements (Cont’d) |
Consolidated Income Statement (Cont’d)
January – September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
The first three quarters (January – September) of | The first three quarters (January – September) of | |||||||
Item | 2021 | 2020 | ||||||
VI. Other comprehensive income, net of tax | -268 | -83 | ||||||
(I) Other comprehensive income, net of tax, attributable to owners of the parent company | -265 | -79 | ||||||
1. Other comprehensive income that cannot be reclassified into profit or loss | -20 | -35 | ||||||
(1) Changes arising from re-measuring defined benefit plan | -29 | 26 | ||||||
(2) Other comprehensive income that cannot be transferred to profit or loss under the equity method | — | 10 | ||||||
(3) Changes in fair value of other equity instrument investments | 9 | -71 | ||||||
(4) Changes in fair value of the enterprise’s own credit risk | — | — | ||||||
2. Other comprehensive income that will be reclassified into profit or loss | -245 | -44 | ||||||
(1) Other comprehensive income that will be transferred to profit or loss under the equity method | — | — | ||||||
(2) Changes in fair value of other debt investments | — | — | ||||||
(3) Amount of financial assets reclassified into other comprehensive income | — | — | ||||||
(4) Credit impairment provision for other debt investments | — | — | ||||||
(5) Cash flow hedge reserve | -245 | -44 | ||||||
(II) Other comprehensive income, net of tax, attributable to minority interests | -3 | -4 | ||||||
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(2) | Financial statements (Cont’d) |
Consolidated Income Statement (Cont’d)
January – September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
The first three quarters (January – September) of | The first three quarters (January – September) of | |||||||
Item | 2021 | 2020 | ||||||
VII. Total comprehensive income | -8,848 | -9,764 | ||||||
(I) Total comprehensive income attributable to owners of the parent company | -8,427 | -9,184 | ||||||
(II) Total comprehensive income attributable to minority interests | -421 | -580 | ||||||
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VIII. Earnings per share: | ||||||||
(I) Basic earnings per share (RMB/share) | -0.4983 | -0.5608 | ||||||
(II) Diluted earnings per share (RMB/share) | -0.4983 | -0.5608 | ||||||
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Person-in-charge | Officer-in-charge | Officer-in-charge | ||
of the Company: | of accounting: | of the accounting department: | ||
Liu Shaoyong | Li Yangmin | Zhou Qimin |
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(2) | Financial statements (Cont’d) |
Consolidated Cash Flow Statement
January – September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
The first three | The first three | |||||||||
quarters (January | quarters (January | |||||||||
– September) of | – September) of | |||||||||
Item | 2021 | 2020 | ||||||||
1. | Cash flow from operating activities: | |||||||||
Cash received from sales of goods and provision of labour services | 54,371 | 42,756 | ||||||||
Refund of taxes | 18 | 92 | ||||||||
Other cash received from operating activities | 7,906 | 8,643 | ||||||||
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Sub-total of cash inflow from operating activities | 62,295 | 51,491 | ||||||||
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Cash paid for purchase of goods and receiving of labour services | 26,248 | 30,300 | ||||||||
Cash paid to and for employees | 16,949 | 15,470 | ||||||||
Taxes paid | 1,987 | 1,445 | ||||||||
Other cash paid for operating activities | 4,283 | 4,178 | ||||||||
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Sub-total of cash outflow from operating activities | 49,467 | 51,393 | ||||||||
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Net cash flow from operating activities | 12,828 | 98 | ||||||||
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2. | Cash flow from investing activities: | |||||||||
Cash received from disposal of investment | 201 | — | ||||||||
Investment income in cash | 103 | 46 | ||||||||
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | — | 94 | ||||||||
Net cash received from disposal of subsidiaries and other operating units | 117 | — | ||||||||
Other cash received from investing activities | 5,721 | 12 | ||||||||
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Sub-total of cash inflow from investing activities | 6,142 | 152 | ||||||||
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Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets | 8,805 | 5,682 | ||||||||
Other cash paid for investing activities | 31 | — | ||||||||
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Sub-total of cash outflow from investing activities | 8,836 | 5,682 | ||||||||
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Net cash flow from investing activities | -2,694 | -5,530 | ||||||||
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(2) | Financial statements (Cont’d) |
Consolidated Cash Flow Statement (Cont’d)
January – September 2021
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
The first three | The first three | |||||||||
quarters (January | quarters (January | |||||||||
– September) of | – September) of | |||||||||
Item | 2021 | 2020 | ||||||||
3. | Cash flow from financing activities: | |||||||||
Cash received from acquisition of investment | 284 | — | ||||||||
Cash received from borrowings | 102,081 | 82,539 | ||||||||
Other cash received from financing activities | 792 | 10 | ||||||||
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Sub-total of cash inflow from financing activities | 103,157 | 82,549 | ||||||||
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Cash paid for repayment of indebtedness | 92,259 | 53,662 | ||||||||
Cash payments for distribution of dividends, profits expense or payment of interest | 4,326 | 4,883 | ||||||||
Other cash paid for financing activities | 13,528 | 10,837 | ||||||||
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Sub-total of cash outflow from financing activities | 110,113 | 69,382 | ||||||||
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Net cash flow from financing activities | -6,956 | 13,167 | ||||||||
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4. | Effect of changes in exchange rate on cash and cash equivalents | 3 | -23 | |||||||
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5. | Net increase in cash and cash equivalents | 3,181 | 7,712 | |||||||
Add: Balance of cash and cash equivalents at the beginning of the period | 7,651 | 1,350 | ||||||||
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6. | Balance of cash and cash equivalents at the end of the period | 10,832 | 9,062 | |||||||
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Person-in-charge | Officer-in-charge | Officer-in-charge | ||
of the Company: | of accounting: | of the accounting department: | ||
Liu Shaoyong | Li Yangmin | Zhou Qimin |
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(3) | Adjustment to financial statements at the beginning of the year upon adoption of the new leasing standards for the first time starting from 2021 |
☐ Applicable ☒ Not Applicable
The Board of
CHINA EASTERN AIRLINES CORPORATION LIMITED
29 October 2021
As at the date of this announcement, the directors of the Company include Liu Shaoyong (Chairman), Li Yangmin (Vice Chairman, President), Tang Bing (Director), Lin Wanli (Director), Cai Hongping (Independent non-executive Director), Dong Xuebo (Independent non-executive Director), Sun Zheng (Independent non-executive Director), Lu Xiongwen (Independent non-executive Director) and Jiang Jiang (Employee Representative Director).
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