Shandong Airlines Co., Ltd. Summary of Semi-Annual Report 2017
Shandong Airlines Co., Ltd.
Summary of Semi-Annual Report 2017
1. Important Notice
The summary is abstract from full-text of annual report, for more details of operating results, financial condition and future
development plan of the Company; investors should found in the full-text of annual report that published on media appointed by
CSRC.
Prompt of non-standard audit opinion
□ Applicable √ Not applicable
Profit distribution pre-plan of common stock or capitalizing of common reserves pre-plan deliberated by the Board in the reporting
period
□ Applicable √ Not applicable
There is no plan of cash bonus, dividend distribution and capitalizing of common reserves carried out by the Company
Profit distribution pre-plan of preferred stock deliberated and approved by the Board in the reporting period
□ Applicable √ Not applicable
II. Basic information of the company
1. Company profile
Short form of the stock Shanhang-B Stock code 200152
Stock exchange for listing Shenzhen Stock Exchange
Person/Way to contact Secretary of the Board Rep. of security affairs
Name Dong Qiantang Fan Peng
1/F, Tiangong Office Building, North of 3/F, Tiangong Office Building, North of
Red-crowed cranes Hotel, Yaoqiang Red-crowed cranes Hotel, Yaoqiang
Office add.
International Airlines, Licheng District, International Airlines, Licheng District,
Jinan, Shandong Jinan, Shandong
Tel. 0531-82085939 0531-82085586
E-mail dongqt@shandongair.com.cn fanp@shandongair.com.cn
2. Main financial data and indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √ No
Increase/decrease over same
Current Period Same period of last year
period of last year
Operating revenue (RMB) 7,550,794,741.92 6,309,749,290.22 19.67%
Net profit attributable to shareholders of
90,093,090.83 283,689,488.65 -68.24%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 31,207,526.00 202,463,168.92 -84.59%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
649,153,844.96 1,024,495,732.22 -36.64%
activities (RMB)
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Shandong Airlines Co., Ltd. Summary of Semi-Annual Report 2017
Basic earnings per share (RMB/Share) 0.23 0.71 -67.61%
Diluted earnings per share (RMB/Share) 0.23 0.71 -67.61%
5.77 percentage points
Weighted average ROE (%) 2.32% 8.09%
decrease
Increase/decrease over same
End of current Period End of period of last year
period-end of last year
Total assets (RMB) 13,054,887,048.33 12,741,974,788.53 2.46%
Net assets attributable to shareholder of
3,858,916,125.15 3,836,172,828.06 0.59%
listed company (RMB)
3. Number of shares and share-holding
In Share
Total preference shareholders
Total common stock shareholders in with voting rights recovered
15,887 0
reporting period-end at end of reporting period (if
applicable)
Particulars about shares held by top ten shareholders
Number of shares
Nature of Proportion of Total shares Number of uncirculated
Shareholders pledged/frozen
shareholder shares held hold shares
State of share Amount
State-owned
Shandong Aviation Group 42.00% 168,004,000 168,004,000
legal person
State-owned
Air China Limited 22.80% 91,200,000 91,200,000
legal person
Foreign legal
NORGES BANK 0.87% 3,498,479
person
BBH A/C VANGUARD
Foreign legal
EMERGING MARKETS 0.74% 2,960,917
person
STOCK INDEX FUND
WANXIANG
INTERNATIONAL Foreign legal
0.62% 2,490,000
INVESTMENT person
CORPORATION
VANGUARD TOTAL
Foreign legal
INTERNATIONAL 0.43% 1,735,020
person
STOCK INDEX FUND
Domestic
Hou Chunhu 0.41% 1,651,345
nature person
Domestic
Chen Jingjian 0.38% 1,519,400
nature person
ISHARES CORE MSCI
Foreign legal 0.36% 1,420,300
EMERGING MARKETS
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Shandong Airlines Co., Ltd. Summary of Semi-Annual Report 2017
ETF person
Domestic
Yao Ming 0.31% 1,248,003
nature person
1. Shandong Aviation Group(SDA) is the first largest shareholder of the Company, who
holds the shares of the Company on behalf of the State with unlisted shares;
2. Air China Limited is the second largest shareholder of the Company, who holds the
Explanation on related relationship or shares of the Company on behalf of the State with unlisted shares;
concerted action among the 3. Among the above top ten shareholders, Air China Limited is the first largest
abovementioned shareholders shareholder of the SDA, and there exists no associated relationship between SDA and
Air China and the other shareholders, and they don’t belong to the consistent actionist
regulated by the Management Regulation of Information Disclosure on Change of
Shareholding for Listed Companies with the other shareholders.
4. Changes of controlling shareholders or actual controller
Controlling shareholders had no change in reporting period.
Actual controller had no change in reporting period.
5. Total preferred shareholders and top 10 shares held by preferred shareholders
The Company has no preferred shareholders
6. Corporate bond
The Company did not has a corporation bonds that issuance publicly and listed on stock exchange and without due on the date when
semi-annual report approved for released or fail to cash in full on due
III. Discussion and analysis of operation
1. Operation status in the period
In the first half of 2017, the company has basically completed the intended targets in various works of production and management.
- The security situation remained stable. Ensured security flight of total 191,100 hours and 91,000 vehicles, a respective increase
of 14.26% and 13.95% on a year-on-year basis; no transporting aviation incidents and above insecurity incidents occurred due to the
company.
- The flight ran normally. The transportation main business totally organized and ensured the flights of 91808 flights, the flight
punctuality rate was 70.44%, a decrease of 10.12% on a year-on-year basis;
- Maintained profitability. The total turnover of transportation reached 1.519 billion ton-kilometers, passenger traffic volume
reached 10,878,700 person-time, cargo and mail transport volume reached 79,100 tons, an increase of 23.15%, 23.95% and 7.35% on
a year-on-year basis; achieved operating income of 7.55 billion Yuan, the total profit of 109.14 million Yuan; passenger load factor
of 82.28%, an increase of 6.04% on a year-on-year basis, cargo and mail load factor of 39.11%, a decrease of 0.36% on a
year-on-year basis.
- Quality of service was stable. Passenger satisfaction achieved 96.46 scores, risen by 0.64 score on a year-on-year basis. Effective
complaint rate reached 0.152 piece/ thousands of person-time, a decrease of 0.014 piece/ thousands of person-time on a year-on-year
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Shandong Airlines Co., Ltd. Summary of Semi-Annual Report 2017
basis, and the civil aviation media service ranked number four. The company has been awarded as China Top 500 Most Valuable
Brand for ten consecutive years, ranking No. 100 with the brand value of 34.645 billion Yuan.
The Company mainly carried out the following work:
(i) Continue to reinforce the quality foundation of safe operation
First is to feasibly practice the safe development concept. Adhere to the concept of “safety first”, and plan the reform, development,
efficiency, stability and other works. Second is to improve the safety management mechanism. Establish and issue the Control
Program for Annual Security Work, define the key links and key factors, and implement the precision control. Third is to strengthen
the risk prevention and control of operation. Establish the safety performance indicators monitoring system, and implement the
special control to key indicators; strengthen the prevention and management according to the safe production situation in stages to
enhance the systematicness and pertinence of risk control. Fourth is to deeply promote the qualification construction of key teams,
implement the construction requirements of “three basics” (basic level, basis, basic skill) of Civil Aviation Authority, and reinforce
the foundation of safety quality.
(ii) Vigorously promote the work of increasing revenue and reducing expenditure
First is to actively seek the time resources. Increase the transport capacity investment in main bases to continue to consolidate the
control of main base; increase the transport capacity investment in the western markets, and constantly optimize the network
structure. Second is to strengthen the revenue control. Take use of the revenue management system to improve the market research
and judgment and the refinement level of freight space control; actively develop the additional income products, enrich the contents
of class upgrading products, promote the experience, and the sales of “Cixiang” product greatly increase. Third is to enhance the
efficiency of resource allocation and production organization. In the premise of meeting the requirements of the council,
scientifically compress the air routes and the station-crossing time; continue to improve the coordination linkage mechanism of
production, marketing, flight control and finance departments. Fourth is to vigorously implement the cost control. Establish the
efficiency management points and cost control measures, establish the regular traffic control mechanism; actively promote the energy
conservation and emission reduction work, monitor the insurance costs of major production, and vigorously reduce the administrative
costs. Five is to actively seek the synergies. Pay attention to give play to the synergetic advantages of Air China, and achieve the
synergy income through the aircraft wet lease, frequent traveler cooperation, code sharing, and maintenance support and so on.
(iii) Continue to enhance the service control level
First is to optimize the service control mechanism. Carry out the application for national quality award, and promote the further
optimization of service processes, standards and contents. Second is to actively implement the service innovation. Actively promote
the function development and process optimization of “Lu Yan housekeeper” platform, carry out the first-class lounge sales,
passenger paying for meal selection and other businesses; vigorously promote the self-service businesses, and actively develop the
self-service baggage check-in, and self-help ticket changing business and so on. Third is to promote the “honest and kind” service
culture to take root. Vigorously carry out the internal propaganda and implementation of “honest and kind” service, center on the
flight supplies, first-class lounge and other service terminals, develop the embodiment scheme of “honest and kind” service and
promote the implementation; cooperate with China Confucius Foundation and establish the first “Air Confucius School”, which
further enrich the service culture connotation.
(iv) Smoothly promote the basic management work
The first is that the organizational structure and fleet structure adjustments are progressing smoothly. The organizational structure,
job responsibilities and post preparation of flight department, engineering technology company, marketing commission and other
departments are optimized and adjusted, the regional control functions are further intensified and the management power is
strengthened by straightening out the management responsibility and shortening the management chain. The second is that the base
construction is steadily implemented. Actively promote the Shandong Air Base construction at Qingdao new airport, define the
organizational structure and manning quotas of project headquarters, and straighten out the job responsibilities; focus on the base
layout optimization, and actively promote the Urumqi base construction work.
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Shandong Airlines Co., Ltd. Summary of Semi-Annual Report 2017
2. Matters relevant to financial report
(1) Particulars about the changes in aspect of accounting policy, estimates and calculation method
compared with the accounting period of last year
In accordance with the Accounting Standards for Business Enterprises No. 16 - Government Subsidy (Revised 2017), government
subsidy related to the Company’s daily activities is included in other incomes ; while the government subsidy unrelated to the
Company’s daily activities is included in non-operating income and expenditure. The Company adopts the future applicable method
to carry out accounting treatment of this accounting policy change.
(2) Particulars about retroactive restatement on major correction for accounting errors in reporting period
The company had no particulars about retroactive restatement on major correction for accounting errors in the reporting period.
(3) Particulars about the change of consolidation range compared with the accounting period of last year
No changes of consolidation range occurred in the period
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