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 May 2022
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 | May 3, 2022 | 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.
2022 FIRST 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 first quarter of 2022 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 first quarter of 2022 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 first quarterly report of the Company are unaudited.
1. | KEY FINANCIAL DATA |
(1) | Key accounting data and financial indicators |
Unit: million Currency: RMB | ||||||||
Item | For the reporting period | Increase/decrease for the reporting period compared with the same period last year | ||||||
(%) | ||||||||
Revenue | 12,665 | -5.45 | ||||||
Net profit attributable to shareholders of the listed company | -7,760 | N/A | ||||||
Net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss | -7,823 | N/A | ||||||
Net cash flow from operating activities | -4,067 | -1,399.36 | ||||||
Basic earnings per share (RMB/share) | -0.41 | N/A | ||||||
Diluted earnings per share (RMB/share) | -0.41 | N/A | ||||||
Weighted average return on net assets (%) | -16.33 | | Decreased by 9.00 pt | |
Item | As at the end of the reporting period | As at the end of last year | Increase/decrease as at the end of the reporting period compared with the end of last year | |||||||||
(%) | ||||||||||||
Total assets | 283,792 | 286,548 | -0.96 | |||||||||
Owners’ equity attributable to shareholders of the listed company | 43,641 | 51,373 | -15.05 |
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 | |||||||
Item | Amount for the reporting period | |||||||
Profit or loss from disposal of non-current assets | 9 | |||||||
Profit or loss from change in fair value of held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities and derivative financial liabilities, and investment gains from disposal of held-for-trading financial assets, derivative financial assets, held-for-trading financial liabilities, derivative financial liabilities and other debt investments, other than effective hedging business in the ordinary operations of the Company | -5 | |||||||
Non-operating income and expenses other than the above | 94 | |||||||
Less: Effect on income tax | 22 | |||||||
Effect on minority interests (after tax) | 13 | |||||||
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| |||||||
Total | 63 | |||||||
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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
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(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 | N/A | Mainly attributable to the decline in demand of the passenger transportation market due to the impact of COVID-19, as well as the significant increase in jet fuel costs as compared to the same period last year due to the high jet fuel prices | ||
Net profit attributable to shareholders of the listed company after deducting non-recurring profit or loss | N/A | Mainly attributable to the decline in demand of the passenger transportation market due to the impact of COVID-19, as well as the significant increase in jet fuel costs as compared to the same period last year due to the high jet fuel prices | ||
Net cash flow from operating activities | -1,399.36 | Mainly attributable to the decrease in ticket sales during the reporting period as compared to the same period last year | ||
Basic earnings per share (RMB/share) | N/A | Mainly attributable to the decline in operating results during the reporting period | ||
Diluted earnings per share (RMB/share) | N/A | Mainly attributable to the decline in operating results during the reporting period |
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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 | 174,945 | |||
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
Name of shareholder | Nature of shareholder | Number of shares held | Percentage of shares held | Number of shares with trading moratorium held | Pledged, marked or locked-up | |||||||||||||||||
(%) | Status | Number | ||||||||||||||||||||
China Eastern Air Holding Company Limited | State-owned legal person | 7,567,853,802 | 40.10 | 2,494,930,875 | None | 0 | ||||||||||||||||
HKSCC Nominees Limited | Overseas legal person | 4,701,535,905 | 24.91 | 517,677,777 | Unknown | — | ||||||||||||||||
Shanghai Jidaohang Enterprise Management Company Limited | Domestic non- state-owned legal person | 589,041,096 | 3.12 | 589,041,096 | None | 0 | ||||||||||||||||
China National Aviation Fuel Holding Company Limited | State-owned legal person | 502,767,895 | 2.66 | 0 | None | 0 | ||||||||||||||||
Delta Air Lines, Inc. | Overseas legal person | 465,910,000 | 2.47 | 0 | None | 0 | ||||||||||||||||
Shanghai Licheng Information Technology Consulting Co., Ltd. | Domestic non- state-owned legal person | 465,838,509 | 2.47 | 0 | Pledged | 285,838,509 | ||||||||||||||||
CES Finance Holding Co., Ltd. | State-owned legal person | 457,317,073 | 2.42 | 0 | None | 0 | ||||||||||||||||
China Securities Finance Corporation Limited | State-owned legal person | 429,673,382 | 2.28 | 0 | None | 0 | ||||||||||||||||
Shanghai Juneyao (Group) Co., Ltd. | Domestic non- state-owned legal person | 311,831,909 | 1.65 | 311,831,909 | Pledged | 311,831,909 | ||||||||||||||||
China Structural Reform Fund Corporation Limited | State-owned legal person | 273,972,602 | 1.45 | 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 | 4,183,858,128 | Overseas listed foreign shares | 4,183,858,128 | |||||||||
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. | 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 | 168,408,891 | RMB ordinary shares | 168,408,891 | |||||||||
Agricultural Bank of China Limited — Guangfa Balance Selected Mixed Type Securities Investment Fund | 78,446,291 | RMB ordinary shares | 78,446,291 |
Description of connected relationship or activities in concert among the above shareholders | 1. | China Eastern Air Holding Company Limited (“CEA Holding”) owns 100% equity interest in CES Finance Holding Co., Ltd. Among the 4,701,535,905 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, and CEA Holding owns 100% equity interest in CES Global. | ||
2. | Shanghai Juneyao (Group) Co., Ltd. is the controlling shareholder of Juneyao Airlines Co., Ltd. (“Juneyao Airlines”). Among the 4,701,535,905 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, and Juneyao Airlines owns 100% equity interest in Juneyao Hong Kong. | |||
3. | 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 1,670,000,000 H shares of the Company; and Juneyao Hong Kong has pledged in aggregate 232,000,000 H shares of the Company.
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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 21 January 2022, at the 2022 first regular meeting of the Board of the Company, the “Resolution Regarding the Provision of Guarantees for Certain Wholly-owned Subsidiaries” was considered and approved, and the Board agreed that the Company shall provide guarantees for two wholly-owned subsidiaries, namely Shanghai Eastern Flight Training Co., Limited and One Two Three Airlines Co., Ltd., as well as their wholly-owned subsidiaries, with a total cap of RMB3 billion. For details, please refer to the announcement of the Company published on the websites of the Shanghai Stock Exchange and the Hong Kong Stock Exchange on 21 January 2022. |
(2) | On 21 March 2022, a Boeing 737 passenger aircraft of Yunnan Co., Ltd., a subsidiary of the Company, crashed while performing a flight from Kunming to Guangzhou. Since the plane crashed, the Company has attached great importance to the incident, immediately activated the emergency response plan and made every effort to carry out rescue and aftermath work. For details, please refer to the announcement of the Company published on the websites of the Shanghai Stock Exchange and the Hong Kong Stock Exchange on 21 March 2022. |
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4. | QUARTERLY FINANCIAL STATEMENTS |
(1) | Type of audit opinion |
☐ Applicable ☒ Not Applicable
(2) | Financial statements |
Consolidated Statement of Financial Position
31 March 2022
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited | ||||||||
Item | 31 March 2022 | 31 December 2021 | ||||||
Current assets: | ||||||||
Monetary capital | 12,965 | 12,962 | ||||||
Held-for-trading financial assets | 79 | 84 | ||||||
Hedge instruments | 20 | 0 | ||||||
Trade receivables | 1,498 | 974 | ||||||
Prepayments | 247 | 160 | ||||||
Other receivables | 2,484 | 2,397 | ||||||
Inventory | 1,821 | 1,799 | ||||||
Held-for-sale assets | 2 | 2 | ||||||
Non-current assets due within one year | 304 | 304 | ||||||
Other current assets | 8,656 | 9,228 | ||||||
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Total current assets | 28,076 | 27,910 | ||||||
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Non-current assets: | ||||||||
Long-term equity investment | 2,234 | 2,261 | ||||||
Other equity instrument investments | 418 | 457 | ||||||
Hedge instruments | 0 | 0 | ||||||
Investment properties | 117 | 118 | ||||||
Fixed assets | 88,520 | 89,954 | ||||||
Construction in progress | 15,594 | 15,472 | ||||||
Right-of-use assets | 123,308 | 124,663 | ||||||
Intangible assets | 2,630 | 2,655 | ||||||
Goodwill | 9,028 | 9,028 | ||||||
Long-term deferred expenses | 2,319 | 2,452 | ||||||
Deferred income tax assets | 9,580 | 9,580 | ||||||
Other non-current assets | 1,968 | 1,998 | ||||||
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Total non-current assets | 255,716 | 258,638 | ||||||
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Total assets | 283,792 | 286,548 | ||||||
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(2) | Financial statements (Cont’d) |
Consolidated Statement of Financial Position (Cont’d)
31 March 2022
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | 31 March 2022 | 31 December 2021 | ||||||
Current liabilities: | ||||||||
Short-term borrowings | 27,401 | 37,614 | ||||||
Hedge instruments | 0 | 1 | ||||||
Notes payables | 1,840 | 748 | ||||||
Trade payables | 11,697 | 11,321 | ||||||
Account collected in advance | 23 | 13 | ||||||
Contract liabilities | 2,858 | 3,287 | ||||||
Staff remuneration payable | 1,632 | 2,757 | ||||||
Tax payable | 1,340 | 1,794 | ||||||
Other payables | 3,748 | 3,870 | ||||||
Non-current liabilities due within one year | 25,680 | 24,270 | ||||||
Other current liabilities | 23,215 | 216 | ||||||
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Total current liabilities | 99,434 | 85,891 | ||||||
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Non-current liabilities: | ||||||||
Long-term borrowings | 27,773 | 28,151 | ||||||
Bonds payable | 17,799 | 22,641 | ||||||
Hedge instruments | 0 | 45 | ||||||
Lease liabilities | 79,494 | 82,126 | ||||||
Long-term payables | 1,264 | 1,340 | ||||||
Long-term staff remuneration payable | 2,594 | 2,643 | ||||||
Estimated liabilities | 7,339 | 7,270 | ||||||
Deferred income | 87 | 91 | ||||||
Deferred income tax liabilities | 0 | 0 | ||||||
Other non-current liabilities | 1,339 | 1,440 | ||||||
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Total non-current liabilities | 137,689 | 145,747 | ||||||
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Total liabilities | 237,123 | 231,638 | ||||||
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(2) | Financial statements (Cont’d) |
Consolidated Statement of Financial Position (Cont’d)
31 March 2022
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | 31 March 2022 | 31 December 2021 | ||||||
Owners’ equity (or shareholders’ equity): | ||||||||
Paid-up capital (or share capital) | 18,874 | 18,874 | ||||||
Capital reserves | 41,934 | 41,934 | ||||||
Other comprehensive income | -3,048 | -3,076 | ||||||
Surplus reserves | 782 | 782 | ||||||
Undistributed profits | -14,901 | -7,141 | ||||||
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Total owners’ equity (or shareholders’ equity) attributable to owners of the parent company | 43,641 | 51,373 | ||||||
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Minority interests | 3,028 | 3,537 | ||||||
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Total owners’ equity (or shareholders’ equity) | 46,669 | 54,910 | ||||||
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Total liabilities and owners’ equity (or shareholders’ equity) | 283,792 | 286,548 | ||||||
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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 Statement of Profit or Loss and Other Comprehensive Income
January – March 2022
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | First quarter of 2022 | First quarter of 2021 | ||||||
I. Total revenue | 12,665 | 13,395 | ||||||
Of which: Revenue | 12,665 | 13,395 | ||||||
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II. Total operating costs | 21,821 | 20,416 | ||||||
Of which: Operating costs | 19,195 | 17,835 | ||||||
Taxes and surcharges | 27 | 37 | ||||||
Selling expenses | 554 | 676 | ||||||
Administrative expenses | 804 | 706 | ||||||
Research and development expenses | 75 | 44 | ||||||
Finance costs | 1,166 | 1,118 | ||||||
Of which: Interest expenses | 1,462 | 1,313 | ||||||
Interest income | 91 | 41 | ||||||
Add: Other gains | 869 | 1,301 | ||||||
Investment gains (“-” indicating losses) | -27 | 84 | ||||||
Of which: Gains from investments in associates and joint ventures | -27 | -9 | ||||||
Gains arising from changes in fair value (“-” indicating losses) | -5 | 12 | ||||||
Credit impairment losses (“-” indicating losses) | 0 | 0 | ||||||
Asset impairment losses (“-” indicating losses) | 0 | 0 | ||||||
Gains from disposal of assets (“-” indicating losses) | 12 | -1 | ||||||
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III. Operating profit (“-” indicating loss) | -8,307 | -5,625 | ||||||
Add: Non-operating income | 58 | 39 | ||||||
Less: Non-operating expenses | 4 | 6 | ||||||
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IV. Total profits (“-” indicating total losses) | -8,253 | -5,592 | ||||||
Less: Income tax expenses | 16 | -1,479 | ||||||
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V. Net profit (“-” indicating net loss) | -8,269 | -4,113 | ||||||
(I) Classified by continuation of business | ||||||||
1. Net profit from continuing activities (“-” indicating net loss) | -8,269 | -4,113 | ||||||
2. Net profit from discontinued activities (“-” indicating net loss) | 0 | 0 | ||||||
(II) Classified by ownership | ||||||||
1. Net profit attributable to shareholders of the parent company (“-” indicating net loss) | -7,760 | -3,805 | ||||||
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2. Minority interests (“-” indicating net loss) | -509 | -308 |
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(2) | Financial statements (Cont’d) |
Consolidated Statement of Profit or Loss and Other Comprehensive Income (Cont’d)
January – March 2022
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | First quarter of 2022 | First quarter of 2021 | ||||||
VI. Other comprehensive income, net of tax | 28 | -424 | ||||||
(I) Other comprehensive income, net of tax, attributable to owners of the parent company | 28 | -424 | ||||||
1. Other comprehensive income that cannot be reclassified into profit or loss | -39 | -65 | ||||||
(1) Other comprehensive income that cannot be transferred to profit or loss under the equity method | 0 | 3 | ||||||
(2) Changes in fair value of other equity instrument investments | -39 | -68 | ||||||
2. Other comprehensive income that will be reclassified into profit or loss | 67 | -359 | ||||||
(1) Cash flow hedge reserve | 67 | -359 | ||||||
(II) Other comprehensive income, net of tax, attributable to minority interests | 0 | 0 | ||||||
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VII. Total comprehensive income | -8,241 | -4,537 | ||||||
(I) Total comprehensive income attributable to owners of the parent company | -7,732 | -4,229 | ||||||
(II) Total comprehensive income attributable to minority interests | -509 | -308 | ||||||
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VIII. Earnings per share: | ||||||||
(I) Basic earnings per share (RMB/share) | -0.41 | -0.23 | ||||||
(II) Diluted earnings per share (RMB/share) | -0.41 | -0.23 | ||||||
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Person-in-charge of the Company: | Officer-in-charge of accounting: | Officer-in-charge of the accounting department: | ||
Liu Shaoyong | Li Yangmin | Zhou Qimin |
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(2) | Financial statements (Cont’d) |
Consolidated Statement of Cash Flows
January – March 2022
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | First quarter of 2022 | First quarter of 2021 | ||||||
1. Cash flow from operating activities: | ||||||||
Cash received from sales of goods and provision of labour services | 12,369 | 14,469 | ||||||
Refund of taxes | 0 | 0 | ||||||
Other cash received from operating activities | 1,867 | 2,759 | ||||||
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Sub-total of cash inflow from operating activities | 14,236 | 17,228 | ||||||
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Cash paid for purchase of goods and receiving of labour services | 10,319 | 9,125 | ||||||
Cash paid to and for employees | 6,274 | 5,751 | ||||||
Taxes paid | 314 | 639 | ||||||
Other cash paid for operating activities | 1,396 | 1,400 | ||||||
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Sub-total of cash outflow from operating activities | 18,303 | 16,915 | ||||||
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Net cash flow from operating activities | -4,067 | 313 | ||||||
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2. Cash flow from investing activities: | ||||||||
Cash received from disposal of investment | 0 | 141 | ||||||
Investment income in cash | 0 | 80 | ||||||
Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 0 | 0 | ||||||
Other cash received from investing activities | 474 | 117 | ||||||
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Sub-total of cash inflow from investing activities | 474 | 338 | ||||||
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Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets | 1,258 | 2,654 | ||||||
Investments paid in cash | 0 | 0 | ||||||
Other cash paid for investing activities | 0 | 0 | ||||||
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Sub-total of cash outflow from investing activities | 1,258 | 2,654 | ||||||
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Net cash flow from investing activities | -784 | -2,316 | ||||||
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(2) | Financial statements (Cont’d) |
Consolidated Statement of Cash Flows (Cont’d)
January – March 2022
Prepared by: China Eastern Airlines Corporation Limited
Unit: million Currency: RMB Type of audit: Unaudited
Item | First quarter of 2022 | First quarter of 2021 | ||||||
3. Cash flow from financing activities: | ||||||||
Cash received from acquisition of investment | 0 | 0 | ||||||
Cash received from borrowings | 42,000 | 54,515 | ||||||
Other cash received from financing activities | 0 | 0 | ||||||
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Sub-total of cash inflow from financing activities | 42,000 | 54,515 | ||||||
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Cash paid for repayment of indebtedness | 31,551 | 40,146 | ||||||
Cash payments for distribution of dividends, profits expense or payment of interest | 1,457 | 1,310 | ||||||
Other cash paid for financing activities | 4,137 | 3,020 | ||||||
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Sub-total of cash outflow from financing activities | 37,145 | 44,476 | ||||||
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Net cash flow from financing activities | 4,855 | 10,039 | ||||||
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4. Effect of changes in exchange rate on cash and cash equivalents | -1 | 6 | ||||||
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5. Net increase in cash and cash equivalents | 3 | 8,042 | ||||||
Add: Balance of cash and cash equivalents at the beginning of the period | 12,950 | 7,651 | ||||||
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6. Balance of cash and cash equivalents at the end of the period | 12,953 | 15,693 | ||||||
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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 |
Adjustment to financial statements at the beginning of the year upon adoption of the new accounting standards for the first time starting from 2022
☐ Applicable ☒ Not Applicable
The Board of
CHINA EASTERN AIRLINES CORPORATION LIMITED
29 April 2022
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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