SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of
the Securities Exchange Act of 1934
October 31, 2014
CHINA
SOUTHERN AIRLINES COMPANY LIMITED
(Translation of registrant's name into
English)
278 Jichang Road
Guangzhou, Guangdong 510405
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.
Form
20-F x Form
40-F ¨
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 x
(If "Yes" is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b): 82-________.)
China Southern Airlines Company Limited (the “Company”)
published the following announcement on October 30, 2014 on the Hong Kong Stock Exchange’s website at:
http://www.hkexnews.hk/listedco/listconews/SEHK/2014/1030/LTN20141030355.pdf,
in relation to Third Quarterly Report of 2014.
The announcement in English is included
as an exhibit to this Form 6-K.
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 SOUTHERN AIRLINES COMPANY LIMITED
By: |
/s/ Liu Wei and Xie Bing |
|
Name: Liu Wei and Xie Bing |
Title: Joint Company Secretaries |
|
|
|
|
|
|
Date: October 31, 2014 |
Exhibit 99.1
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.
THIRD QUARTERLY REPORT OF 2014
Summary
The 2014 third quarterly financial report
of China Southern Airlines Company Limited (the “Company”, together with its subsidiaries, the "Group") was
prepared in accordance with the PRC Accounting Standards and was unaudited.
This announcement is published pursuant
to Rules 13.09 and 13.10B of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. |
| 1.1 | The board of directors (the “Board”) and the supervisory committee of the Company and
its directors (the “Directors”), supervisors and senior management warrant the truthfulness, accuracy and completeness
of the content contained in this quarterly report, and the report does not contain inaccurate or misleading statements or material
omission, and jointly and severally accept full legal responsibility. |
| 1.2 | This report was considered and approved at the fourth meeting of the seventh session of the Board
on 30 October 2014. 12 Directors were required to attend the meeting and 12 of them attended the meeting. |
| 1.3 | Mr. Si Xian Min (Chairman), the responsible person of
the finance work, Mr. Tan Wan Geng (President of the Company), Mr. Xu Jie Bo (Chief Financial Officer of the Company), and the
responsible person of the accounting department, Mr. Lu Hong Ye (General Manager of the Finance Division of the Company) warrant
the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report. |
| 1.4 | The third quarterly report of the Company is unaudited. |
| 2 | Major accounting data and changes of shareholders
of the Company |
| |
| | |
Unit: Million Currency: RMB | |
| |
At the end of the
reporting period | | |
At the end of the
previous year | | |
Increase/decrease recorded
at the end of the reporting
period as compared to the
end of the previous year (%) | |
Total assets | |
| 184,461 | | |
| 165,145 | | |
| 11.70 | |
Net assets attributable to the shareholders of the Listed Company | |
| 35,017 | | |
| 34,139 | | |
| 2.57 | |
| |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | |
| |
| Amount
from the beginning of the year to the end of the reporting period (from January to September) | | |
| Amount from the
beginning of last year to
the end of the
corresponding reporting
eriod of last year
(from January to September) | | |
| Increase/decrease
recorded in the reporting
period as compared to the
corresponding period of the
previous year (%) | |
Net cash flow from operating activities | |
| 10,513 | | |
| 11,253 | | |
| -6.58 | |
Operating revenue | |
| 81,827 | | |
| 74,424 | | |
| 9.95 | |
Net profit attributable to the shareholders of the Listed Company | |
| 1,256 | | |
| 2,460 | | |
| -48.94 | |
Net profit attributable to the shareholders of the Listed Company after deducting non-recurring gains and losses | |
| 1,084 | | |
| 2,418 | | |
| -55.17 | |
Weighted average return on net assets (%) | |
| 3.63 | | |
| 7.29 | | |
| Decrease
by a
percentage of 3.66 | |
Basic earnings per share (Yuan/share) | |
| 0.13 | | |
| 0.25 | | |
| -48.00 | |
Diluted earnings per share (Yuan/share) | |
| 0.13 | | |
| 0.25 | | |
| -48.00 | |
After deducting non-recurring gains and losses
| |
Unit: Million Currency: RMB | |
Items | |
Amount for the reporting period
(from July to September) | | |
Amount from the beginning
of the year to the end of
the reporting period (from January to September) | |
Gains and losses on disposal of non-current assets | |
| 71 | | |
| 101 | |
Other non-operating income and expenses | |
| 36 | | |
| 145 | |
Influence of income tax | |
| -29 | | |
| -64 | |
Influence of minority interests (after tax) | |
| | | |
| -10 | |
Total | |
| 78 | | |
| 172 | |
| 2.2 | Number of shareholders, particulars of the top ten shareholders and the top ten shareholders holding
the Company’s tradable shares not subject to selling restrictions as at the end of the reporting period |
|
|
|
|
|
|
|
Unit: Share |
Total number of shareholders (shareholders) |
235,185 |
Particulars
of the top ten shareholders |
Name
of the shareholder (in full) |
Increase/decrease
during the
reporting period
|
Number
of shares held as at the end of the reporting period
|
Shareholding
(%) |
Number
of shares subject to trading restrictions |
Status
|
Number
of shares
|
Capacity
|
|
|
|
|
|
|
|
|
China Southern Air Holding Company (“CSAHC”) |
58,536,278 |
4,208,586,278 |
42.87% |
0 |
No |
0 |
State |
|
|
|
|
|
|
|
|
HKSCC Nominees Limited |
-478,100 |
1,745,290,197 |
17.78% |
0 |
Not known |
- |
Overseas legal entity |
|
|
|
|
|
|
|
|
Nan Lung Holding Limited (“Nan Lung”) |
0 |
1,033,650,000 |
10.53% |
0 |
No |
0 |
State-owned legal entity |
|
|
|
|
|
|
|
|
Anhui Conch Venture Investment Co., Ltd.
(安徽海螺創業投資有限責任公司) |
-20,809,075 |
184,454,815 |
1.88% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
|
|
|
|
|
|
|
|
Zhong Hang Xin Gang Guarantee Co., Ltd.
(中航鑫港擔保有限公司) |
0 |
159,000,000 |
1.62% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
|
|
|
|
|
|
|
|
Zhao Xiaodong (趙曉東) |
4,485,071 |
152,363,295 |
1.55% |
0 |
Not known |
- |
Domestic Individual |
|
|
|
|
|
|
|
|
Wuhu Rui Jian Investment Consulting Co., Ltd.
(蕪湖瑞健投資諮詢有限公司) |
0 |
142,050,000 |
1.45% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
|
|
|
|
|
|
|
|
Bank of China Limited - Harvest Research Selected Equity Securities Investment Fund(中國銀行股份有限公司-嘉實研究精選股票型證券投資基金) |
35,478,090 |
35,478,090 |
0.36% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
|
|
|
|
|
|
|
|
Guoyuan Securities Co., Ltd. Agreed Repurchase Securities Trading Special Securities Account (國元證券股份有限公司約定購回式證券交易專用證券賬戶) |
5,000,000 |
23,970,000 |
0.24% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
|
|
|
|
|
|
|
|
Bank of
China Limited - Harvest Shanghai Shenzhen 300 Trading Index Securities Investment Open-ended Fund (中國銀行股份有限公司-嘉實滬深300交易型開放式指數證券投資基金) |
-1,517,359 |
17,374,626 |
0.18% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
Particulars of the top ten shareholders
holding
the Company’s tradable shares not
subject to trading restrictions |
Name of the shareholder (in full) |
Number of tradable shares not
subject to selling restrictions |
Type and number of shares |
Type of shares |
Number of shares |
China Southern Air Holding Company (“CSAHC”) |
4,208,586,278 |
RMB-denominated Ordinary shares |
4,208,586,278 |
|
|
|
|
HKSCC Nominees Limited |
1,745,290,197 |
Overseas listed
foreign shares |
1,745,290,197 |
|
|
|
|
Nan Lung Holding Limited |
1,033,650,000 |
Overseas listed
foreign shares |
1,033,650,000 |
|
|
|
|
Anhui Conch Venture Investment Co., Ltd. |
184,454,815 |
RMB-denominated Ordinary shares |
184,454,815 |
|
|
|
|
Zhong Hang Xin Gang Guarantee Co., Ltd. |
159,000,000 |
RMB-denominated Ordinary shares |
159,000,000 |
|
|
|
|
Zhao Xiaodong |
152,363,295 |
RMB-denominated Ordinary shares |
152,363,295 |
|
|
|
|
Wuhu Rui Jian Investment Consulting Co., Ltd. |
142,050,000 |
RMB-denominated Ordinary shares |
142,050,000 |
|
|
|
|
Bank of China Limited - Harvest Research Selected Equity Securities Investment Fund |
35,478,090 |
RMB-denominated Ordinary shares |
35,478,090 |
|
|
|
|
Guoyuan Securities Co., Ltd. Agreed Repurchase Securities Trading Special Securities Account |
23,970,000 |
RMB-denominated Ordinary shares |
23,970,000 |
|
|
|
|
Bank of China Limited - Harvest Shanghai Shenzhen 300 Trading Index Securities Investment Open-ended Fund |
17,374,626 |
RMB-denominated Ordinary shares |
17,374,626 |
|
|
|
|
Explanation of the connected relationship or acting in concert relationship of the above shareholders |
Nan Lung is incorporated in Hong
Kong and a wholly-owned subsidiary of CSAHC. The Company is not aware of any other connected relationship between other shareholders.
The H shares held by HKSCC Nominees Limited include the 31,120,000 H shares of the Company held by Yazhou Travel Investment Company
Limited, a fourth level subsidiary of CSAHC incorporated in Hong Kong.
|
|
|
Explanation of the preference shareholders with restored voting rights and its number of shares |
Not applicable. |
| 3.1 | Significant changes in major accounting items and financial
indicators of the Company and the reasons for such changes |
x
Applicable ¨ Not
applicable
| |
| | |
| | |
Unit: Million Currency: RMB |
Items in consolidated
balance sheet | |
Balance at the end of the reporting period | | |
Balance at the
beginning of the year | | |
Increase/ decrease
percentage | | |
Main reason(s) for
the change |
Accounts receivable | |
| 2,933 | | |
| 2,213 | | |
| 32.54 | | |
Mainly due to the increase in income in peak season under the seasonal influence. |
Prepayments | |
| 1,322 | | |
| 947 | | |
| 39.60 | | |
Mainly due to the increase in prepayments of operating lease, pilot training expenses, etc. |
Other current assets | |
| 1,770 | | |
| 1,183 | | |
| 49.62 | | |
Mainly due to the increase of VAT-input yet to be deducted. |
Short-term borrowings | |
| 7,103 | | |
| 14,412 | | |
| -50.71 | | |
Mainly due to the decrease of short-term borrowings for the reporting period. |
Interest payable | |
| 382 | | |
| 269 | | |
| 42.01 | | |
Mainly due to the payable ultra- short-term financing bills with interests paid on maturity issued in the reporting period. |
Non-current liabilities due within one year | |
| 14,458 | | |
| 10,710 | | |
| 35.00 | | |
Mainly due to the increase of long-term borrowings due within one year and of payable finance lease. |
Other current liabilities | |
| 3,000 | | |
| | | |
| 100.00 | | |
Mainly due to the ultra-short-term financing bills issued in the reporting period. |
Items in consolidated income statement | |
Amount from the beginning of the year to the end of the reporting period (from January to September) | | |
Amount from the beginning of last year to the end of the corresponding reporting period of last year (from January to September) | | |
Increase/ decrease percentage | | |
Main reason(s) for the change |
Financial expenses | |
| 2,387 | | |
| -703 | | |
| -439.54 | | |
Mainly due to the increase of foreign exchange loss due to the depreciation of RMB against US dollar in the reporting period. |
Non-operating income | |
| 1,530 | | |
| 1,148 | | |
| 33.28 | | |
Mainly due to the increase of government grants in the reporting period. |
Income tax expenses | |
| 445 | | |
| 912 | | |
| -51.21 | | |
Mainly due to the decrease of profit in the reporting period. |
Cash received from other operating activities | |
| 1,624 | | |
| 536 | | |
| 202.99 | | |
Mainly due to the increase of received government grants. |
Investment income in cash | |
| 85 | | |
| 43 | | |
| 97.67 | | |
Mainly due to the increase of received dividends in the reporting period. |
Cash received from other investing activities | |
| 204 | | |
| 8,603 | | |
| -97.63 | | |
Mainly due to the proceeds from investment in government bonds for prior period. No relevant matters occurred in the reporting period. |
Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets | |
| 5,135 | | |
| 10,911 | | |
| -52.94 | | |
Mainly due to the decrease of self-financing aircrafts imported in the reporting period. |
Cash paid relating to other financing activities | |
| 0 | | |
| 7,980 | | |
| -100.00 | | |
Mainly due to the investment in government bonds by Xiamen Airlines for prior period. No relevant matters occurred in the reporting period. |
Proceeds received in cash from bonds issuance | |
| 6,000 | | |
| 500 | | |
| 1,100.00 | | |
Mainly due to the increase of ultra-short-term financing bills issued in the reporting period. |
| 3.2 | Analysis and explanation of the development of major events
and their impact and proposal as to the solutions |
¨
Applicable x Not applicable
| 3.3 | Performance of the undertakings by the Company and its shareholders holding more than 5%
equity interests of the Company |
x
Applicable ¨ Not applicable
Undertakings given by CSAHC,
the controlling shareholder of the Company, during the reporting period or existing to the reporting period are as follow:
| 1. | Upon completion of the Share Reform Plan, and subject to compliance with the relevant laws and
regulations of the PRC, CSAHC will support the Company in respect of the formulation and implementation of a management equity
incentive system. The undertaking has been performed strictly. |
| 2. | Company and CSAHC entered into the “Property Compensation Agreement” on 22 May 1997,
pursuant to which CSAHC agreed to compensate the Company for any losses or damages resulting from any challenge to or interference
with the Company’s rights in the use of the land and buildings leased from CSAHC. It’s a long-term undertaking, and
it has been performed strictly. |
| 3. | In 1995, CSAHC and the Company entered into a Separation Agreement with regard to the definition
and allocation of the assets and liabilities between CSAHC and the Company on 25 March 1995 (the Agreement was amended on 22 May
1997). According to the Separation Agreement, CSAHC and the Company agreed to compensate the other party for the claims, liabilities
and costs borne by such party as a result of the business, assets and liabilities held or inherited by CSAHC and the Company pursuant
to the Separation Agreement. It’s a long-term undertaking, and it has been performed strictly. |
| 4. | In respect of the connected transaction entered into between the Company and CSAHC on 14 August
2007 in relation to the sale and purchase of various assets, the application for building title certificates for eight properties
of Air Catering (with a total gross floor area of 8,013.99 square meters) and 11 properties of the Training Centre (with a total
gross floor area of 13,948.25 square meters) have not been made for various reasons. In this regard, CSAHC has issued an undertaking
letter, undertaking that: (i) the above title certificates should be obtained by CSAHC by the end of 2008; (ii) all the cost and
expenses arising from the application of the relevant title certificates would be borne by CSAHC; and (iii) CSAHC would be liable
for all the losses suffered by the Company as a result of the above two undertakings, including but not limited to: a) any production
losses arising from the lack of title certificates, b) any other losses occasioned by the potential risk arising from the outstanding
title certificates. The application for the title certificates mentioned above remained outstanding for various reasons. Therefore,
CSAHC issued an undertaking letter, undertaking that it would attend to and complete the above-mentioned obligation before 31 December
2016 and would compensate the Company for any losses arising from the undertakings. |
Due to the change of ownership
title need to comply with the state and local laws and regulations, and a series of formalities in relation to the government approval
need to be involved, CSAHC are actively communicating with the government. However, as at the end of the reporting period, such
undertakings are in the course of being implemented. The performance period of this undertaking is up to 31 December 2016.
| 5. | The relevant undertakings under the Financial Services Framework Agreement between the Company
and SA Finance: a) SA Finance is a duly incorporated enterprise group finance company under the “Administrative Measures
for Enterprise Group Finance Companies” and the other relevant rules and regulations, whose principal business is to provide
finance management services, such as deposit and financing for the members of the Group; and the relevant capital flows are kept
within the Group; b) The operations of SA Finance are in compliance with the requirements of the relevant laws and regulations
and it is running well, therefore the deposits placed with and loans from SA Finance of the Company are definitely secure. In future,
SA Finance will continue to operate in strict compliance with the requirements of the relevant laws and regulations; c) In respect
of the Company’s deposits with and borrowings from SA Finance, the Company will continue to implement its internal procedures
in accordance with the relevant laws and regulations and the Articles of Association, and CSAHC will not intervene in the relevant
decision-making process of the Company; d) As the Company is independent from CSAHC in respect of its assets, businesses, personnel,
finance and organizational structures, CSAHC will continue to fully respect the rights of the Company to manage its own operations,
and will not intervene in the daily business operations of the Company. It’s a long-term undertaking, and it has been performed
strictly. |
| 3.4 | Warning in respect of, and the reason for, the forecast
of a probable loss in respect of the accumulated net profit from the beginning of the financial year to the end of the next reporting
period or any significant changes as compared to the corresponding period of the previous year |
¨ Applicable
x Not applicable
| 3.5 | Impacts on the consolidated financial statements after
implementing the new China Accounting Standard (CAS) |
The Group has adopted the new
CAS standards issued or revised by the Ministry of Finance since 1 July 2014, including CAS No.2 - Long-term equity investments,
CAS No.39 – Fair value measurement, CAS No.40 – Joint arrangements, CAS No.41 – Disclosure of interests in other
entities, CAS No.9 – Employment benefits, CAS No.30 – Presentation of financial statements, and CAS No.33 – Consolidated
financial statements. Except for the impacts after implementing CAS No.2 - Long-term equity investments, described as follows,
there is no impact after implementing other 6 new CAS standards on the consolidated financial statements.
3.5.1 Impacts of implementing
the CAS No.2 – Long-term equity investments (Revised in 2014)
The Group previously recognised
the equity investments, whose fair value could not be reliably measured and which were neither quoted in an active market nor controlled
or commonly controlled by or exercised significant influence on an investee, as long-term equity investments. But in accordance
with the CAS No.2 – Long-term equity investments (Revised in 2014), such equity investments should be recognised as
available-for-sale financial assets, instead of long-term equity investments.
The major impacts of the above
change on the consolidated financial statements as at 31 December 2013 are as follows:
| |
Unit: Million Currency: RMB | |
| |
31 December 2013 | |
Item | |
Balance at the end of the year before adjustment | | |
Adjustment amount | | |
Balance at the end of the year after adjustment | |
Available-for-sale financial assets | |
| 61 | | |
| 136 | | |
| 197 | |
Long-term equity investments | |
| 2,679 | | |
| -136 | | |
| 2,543 | |
The above change of the accounting
policy has no impact on the consolidated total assets, total liabilities, net assets and net profit except for the amounts of available-for-sale
financial assets and long- term equity investments.
By order of the Board |
China Southern Airlines Company Limited |
Xie Bing and Liu Wei |
Joint Company Secretaries |
|
Guangzhou, the People’s Republic
of China
30 October 2014
As at the date of this announcement,
the Directors include Si Xian Min, Wang Quan Hua, Yuan Xin An and Yang Li Hua as non-executive Directors, Tan Wan Geng, Zhang Zi
Fang , Xu Jie Bo and Li Shao Bin as executive Directors; and Wei Jin Cai, Ning Xiang Dong, Liu Chang Le and Tan Jin Song as independent
non-executive Directors.
Consolidated Balance Sheet
30 September 2014
Prepared
by: China Southern Airlines Company Limited
| |
Unit: Million Currency: RMB Unaudited | |
Items | |
Balance at the end of
the reporting period | | |
Balance at the
Beginning of the year | |
Current assets: | |
| | | |
| | |
Cash and bank balances | |
| 17,906 | | |
| 12,610 | |
Settlement reserves fund | |
| | | |
| | |
Deposits with banks and other financial institutions | |
| | | |
| | |
Financial assets held for trading | |
| | | |
| | |
Notes receivable | |
| | | |
| | |
Accounts receivable | |
| 2,933 | | |
| 2,213 | |
Prepayments | |
| 1,322 | | |
| 947 | |
Premium receivables | |
| | | |
| | |
Receivables from reinsurers | |
| | | |
| | |
Provisions for reinsurance contracts | |
| | | |
| | |
Interest receivable | |
| | | |
| | |
Dividends receivable | |
| 9 | | |
| 60 | |
Other receivables | |
| 2,412 | | |
| 1,911 | |
Purchase of financial assets resold | |
| | | |
| | |
Inventories | |
| 1,716 | | |
| 1,647 | |
Non-current assets due within one year | |
| | | |
| | |
Other current assets | |
| 1,770 | | |
| 1,183 | |
Total current assets | |
| 28,068 | | |
| 20,571 | |
Non-current assets: | |
| | | |
| | |
Entrusted loans and advances | |
| | | |
| | |
Available-for-sale financial assets | |
| 212 | | |
| 197 | |
Held-to-maturity investments | |
| | | |
| | |
Long-term receivables | |
| | | |
| | |
Long-term equity investments | |
| 2,855 | | |
| 2,543 | |
Investment properties | |
| 470 | | |
| 508 | |
Fixed assets | |
| 129,021 | | |
| 119,249 | |
Construction in progress | |
| 19,059 | | |
| 17,314 | |
Construction materials | |
| | | |
| | |
Fixed assets pending for disposal | |
| | | |
| | |
Bearer biological assets | |
| | | |
| | |
Oil and gas assets | |
| | | |
| | |
Intangible assets | |
| 2,518 | | |
| 2,443 | |
Development costs | |
| | | |
| | |
Goodwill | |
| | | |
| | |
Long-term prepaid expenses | |
| 414 | | |
| 415 | |
Deferred tax assets | |
| 1,331 | | |
| 1,339 | |
Other non-current assets | |
| 513 | | |
| 566 | |
Total non-current assets | |
| 156,393 | | |
| 144,574 | |
Total assets | |
| 184,461 | | |
| 165,145 | |
Current liabilities: | |
| | | |
| | |
Short-term borrowings | |
| 7,103 | | |
| 14,412 | |
Borrowings from central bank | |
| | | |
| | |
Deposits from customers and other banks | |
| | | |
| | |
Advances from banks and other financial institutions | |
| | | |
| | |
Financial liabilities held for trading | |
| | | |
| | |
Notes payable | |
| | | |
| 3 | |
Accounts payable | |
| 12,283 | | |
| 11,035 | |
Advances from customers | |
| 5,833 | | |
| 5,815 | |
Financial assets sold under agreements repurchase | |
| | | |
| | |
Handling charges and commissions payable | |
| | | |
| | |
Salaries and wages payable | |
| 2,252 | | |
| 2,291 | |
Taxes payable | |
| 623 | | |
| 797 | |
Interest payable | |
| 382 | | |
| 269 | |
Dividends payable | |
| | | |
| | |
Other payables | |
| 4,350 | | |
| 3,881 | |
Amounts due to reinsurers | |
| | | |
| | |
Reserves on insurance contracts | |
| | | |
| | |
Securities trading agency fees | |
| | | |
| | |
Securities underwriting fees | |
| | | |
| | |
Non-current liabilities due within one year | |
| 14,458 | | |
| 10,710 | |
Other current liabilities | |
| 3,000 | | |
| | |
Total current liabilities | |
| 50,284 | | |
| 49,213 | |
Non-current liabilities: | |
| | | |
| | |
Long-term borrowings | |
| 45,021 | | |
| 37,246 | |
Bonds payable | |
| | | |
| | |
Long-term payables | |
| 40,420 | | |
| 31,373 | |
Special items payable | |
| | | |
| | |
Estimated liabilities | |
| 22 | | |
| 41 | |
Deferred tax liabilities | |
| 807 | | |
| 880 | |
Other non-current liabilities | |
| 4,252 | | |
| 4,180 | |
Total non-current liabilities | |
| 90,522 | | |
| 73,720 | |
Total liabilities | |
| 140,806 | | |
| 122,933 | |
Owners' equity (or shareholders'equity): | |
| | | |
| | |
Paid-in capital (or share capital) | |
| 9,818 | | |
| 9,818 | |
Capital surplus | |
| 14,421 | | |
| 14,406 | |
Less: Treasury shares | |
| | | |
| | |
Special reserve | |
| | | |
| | |
Surplus reserve | |
| 1,169 | | |
| 1,169 | |
Provision for ordinary risks | |
| | | |
| | |
Undistributed profits | |
| 9,609 | | |
| 8,746 | |
Foreign exchange translation reserve | |
| | | |
| | |
Total equity attributable to shareholders of the Company | |
| 35,017 | | |
| 34,139 | |
Minority interests | |
| 8,638 | | |
| 8,073 | |
Total owners' equity | |
| 43,655 | | |
| 42,212 | |
Total liabilities and owners' equity | |
| 184,461 | | |
| 165,145 | |
Legal Representative of the Company: Mr. Si Xian Min (Chairman)
Chief of Accounting Work: Mr. Tan Wan Geng (President
of the Company) and Mr. Xu Jie Bo (Chief
Financial Officer of the Company)
Chief of the Accounting Department: Mr. Lu Hong Ye (General
Manager of the Finance Department of the
Company)
Balance Sheet of the Company
30 September 2014
Prepared by: China Southern
Airlines Company Limited
| |
Unit: Million
Currency: RMB Unaudited | |
Items | |
Balance at the end of the reporting period | | |
Balance at the
beginning of the year | |
Current assets: | |
| | | |
| | |
Cash and bank balances | |
| 9,637 | | |
| 5,555 | |
Financial assets held for trading | |
| | | |
| | |
Notes receivable | |
| | | |
| | |
Accounts receivable | |
| 2,632 | | |
| 1,916 | |
Prepayments | |
| 939 | | |
| 691 | |
Interest receivable | |
| | | |
| | |
Dividends receivable | |
| | | |
| 74 | |
Other receivables | |
| 1,390 | | |
| 1,222 | |
Inventories | |
| 1,296 | | |
| 1,251 | |
Non-current assets due within one year | |
| | | |
| | |
Other current assets | |
| 1,742 | | |
| 1,095 | |
Total current assets | |
| 17,636 | | |
| 11,804 | |
Non-current assets: | |
| | | |
| | |
Available-for-sale financial assets | |
| 135 | | |
| 125 | |
Held-to-maturity investments | |
| | | |
| | |
Long-term receivables | |
| | | |
| | |
Long-term equity investments | |
| 5,706 | | |
| 5,406 | |
Investment properties | |
| 188 | | |
| 193 | |
Fixed assets | |
| 107,636 | | |
| 100,140 | |
Construction in progress | |
| 12,509 | | |
| 12,208 | |
Construction materials | |
| | | |
| | |
Fixed assets pending for disposal | |
| | | |
| | |
Bearer biological assets | |
| | | |
| | |
Oil and gas assets | |
| | | |
| | |
Intangible assets | |
| 1,545 | | |
| 1,487 | |
Development costs | |
| | | |
| | |
Goodwill | |
| | | |
| | |
Long-term prepaid expenses | |
| 346 | | |
| 349 | |
Deferred tax assets | |
| 1,291 | | |
| 1,293 | |
Other non-current assets | |
| 441 | | |
| 484 | |
Total non-current assets | |
| 129,797 | | |
| 121,685 | |
Total assets | |
| 147,433 | | |
| 133,489 | |
Current liabilities: | |
| | | |
| | |
Short-term borrowings | |
| 5,733 | | |
| 12,373 | |
Derivative financial liabilities | |
| | | |
| | |
Notes payable | |
| | | |
| | |
Accounts payable | |
| 9,744 | | |
| 8,857 | |
Advances from customers | |
| 5,192 | | |
| 5,153 | |
Salaries and wages payable | |
| 1,667 | | |
| 1,710 | |
Taxes payable | |
| 386 | | |
| 590 | |
Interest payable | |
| 334 | | |
| 224 | |
Dividends payable | |
| | | |
| | |
Other payables | |
| 6,005 | | |
| 4,901 | |
Non-current liabilities due within one year | |
| 12,151 | | |
| 8,887 | |
Other current liabilities | |
| 3,000 | | |
| | |
Total current liabilities | |
| 44,212 | | |
| 42,695 | |
Non-current liabilities: | |
| | | |
| | |
Long-term borrowings | |
| 34,726 | | |
| 29,093 | |
Bonds payable | |
| | | |
| | |
Long-term payables | |
| 37,225 | | |
| 30,482 | |
Special items payable | |
| | | |
| | |
Estimated liabilities | |
| 20 | | |
| 39 | |
Deferred tax liabilities | |
| | | |
| | |
Other non-current liabilities | |
| 3,364 | | |
| 3,454 | |
Total non-current liabilities | |
| 75,335 | | |
| 63,068 | |
Total liabilities | |
| 119,547 | | |
| 105,763 | |
Owners' equity (or shareholders' equity): | |
| | | |
| | |
Paid-in capital (or share capital) | |
| 9,818 | | |
| 9,818 | |
Capital surplus | |
| 14,119 | | |
| 14,110 | |
Less: Treasury shares | |
| | | |
| | |
Special reserve | |
| | | |
| | |
Surplus reserve | |
| 1,169 | | |
| 1,169 | |
Provision for ordinary risks | |
| | | |
| | |
Undistributed profits | |
| 2,780 | | |
| 2,629 | |
Total owners' equity (or shareholders' equity) | |
| 27,886 | | |
| 27,726 | |
Total liabilities and owners' equity (or shareholders' equity) | |
| 147,433 | | |
| 133,489 | |
Legal Representative of the Company: Mr. Si Xian Min (Chairman)
Chief of Accounting Work: Mr. Tan Wan Geng (President of the
Company) and Mr. Xu Jie Bo (Chief
Financial Officer of the Company)
Chief of the Accounting Department: Mr. Lu Hong Ye (General
Manager of the Finance Department of the
Company)
Consolidated Income Statement
Prepared
by: China Southern Airlines Company Limited
| |
| | |
Unit: Million
Currency: RMB Unaudited | |
Items | |
Amount for the reporting period
(from July to September) | | |
Amount for the corresponding period of last year (from July to September) | | |
Amount from the beginning of the year to the end of the reporting period (from January to September) | | |
Amount from the beginning of last year to the end of the corresponding reporting period of last year (from January to September) | |
1. Total revenue | |
| 31,615 | | |
| 28,420 | | |
| 81,827 | | |
| 74,424 | |
Including: Operating income | |
| 31,615 | | |
| 28,420 | | |
| 81,827 | | |
| 74,424 | |
Interest income | |
| | | |
| | | |
| | | |
| | |
Premiums earned | |
| | | |
| | | |
| | | |
| | |
Fees and commission income | |
| | | |
| | | |
| | | |
| | |
2. Total operating costs | |
| 28,949 | | |
| 25,927 | | |
| 81,400 | | |
| 71,856 | |
Including: Cost of sales | |
| 25,714 | | |
| 23,039 | | |
| 71,160 | | |
| 64,610 | |
Interest expenses | |
| | | |
| | | |
| | | |
| | |
Fees and commission expenses | |
| | | |
| | | |
| | | |
| | |
Returned premium | |
| | | |
| | | |
| | | |
| | |
Net compensation expenses | |
| | | |
| | | |
| | | |
| | |
Net provision for insurance contract | |
| | | |
| | | |
| | | |
| | |
Insurance policy dividend expenses | |
| | | |
| | | |
| | | |
| | |
Reinsurance expenses | |
| | | |
| | | |
| | | |
| | |
Business taxes and surcharges | |
| 56 | | |
| 73 | | |
| 158 | | |
| 202 | |
Selling and distribution expenses | |
| 2,119 | | |
| 2,081 | | |
| 5,797 | | |
| 5,791 | |
General and administrative expenses | |
| 670 | | |
| 685 | | |
| 1,892 | | |
| 1,946 | |
Financial expenses | |
| 390 | | |
| 39 | | |
| 2,387 | | |
| -703 | |
Assets impairment losses | |
| | | |
| 10 | | |
| 6 | | |
| 10 | |
Add: Gains arising from changes in fair value (losses indicated by “–”) | |
| | | |
| | | |
| | | |
| | |
Investment income (losses indicated by “–”) | |
| 265 | | |
| 241 | | |
| 345 | | |
| 360 | |
Including: Share of profit of associates and joint ventures | |
| 255 | | |
| 238 | | |
| 331 | | |
| 323 | |
Exchange gains(losses indicated by “–”) | |
| | | |
| | | |
| | | |
| | |
3. Operating profit (losses indicated by “–”) | |
| 2,931 | | |
| 2,734 | | |
| 772 | | |
| 2,928 | |
Add: Non-operating income | |
| 418 | | |
| 494 | | |
| 1,530 | | |
| 1,148 | |
Less: Non-operating expenses | |
| 11 | | |
| 17 | | |
| 29 | | |
| 38 | |
Including: Losses on disposal of non-current assets | |
| 4 | | |
| 2 | | |
| 5 | | |
| 11 | |
4. Total profits (total losses indicated by “–”) | |
| 3,338 | | |
| 3,211 | | |
| 2,273 | | |
| 4,038 | |
Less: Income tax expenses | |
| 742 | | |
| 685 | | |
| 445 | | |
| 912 | |
5. Net profit (net loss indicated by “–”) | |
| 2,596 | | |
| 2,526 | | |
| 1,828 | | |
| 3,126 | |
Net profit attributable to shareholders of the Company | |
| 2,274 | | |
| 2,158 | | |
| 1,256 | | |
| 2,460 | |
Minority interests | |
| 322 | | |
| 368 | | |
| 572 | | |
| 666 | |
6. Earnings per share: | |
| | | |
| | | |
| | | |
| | |
(1) Basic earnings per share | |
| 0.23 | | |
| 0.22 | | |
| 0.13 | | |
| 0.25 | |
(2) Diluted earnings per share | |
| 0.23 | | |
| 0.22 | | |
| 0.13 | | |
| 0.25 | |
7. Other comprehensive income | |
| 10 | | |
| 1 | | |
| 16 | | |
| -7 | |
8. Total comprehensive income | |
| 2,606 | | |
| 2,527 | | |
| 1,844 | | |
| 3,119 | |
Total comprehensive income attributable to shareholders of the Company | |
| 2,284 | | |
| 2,161 | | |
| 1,271 | | |
| 2,458 | |
Total comprehensive income attributable to minority interests | |
| 322 | | |
| 366 | | |
| 573 | | |
| 661 | |
Legal Representative of the Company: Mr. Si Xian Min (Chairman)
Chief of Accounting Work: Mr. Tan Wan Geng (President of the
Company) and Mr. Xu Jie Bo (Chief
Financial Officer of the Company)
Chief of the Accounting Department: Mr. Lu Hong Ye (General
Manager of the Finance Department of the
Company)
Income Statement of the Company
Prepared
by: China Southern Airlines Company Limited
| |
| | |
| | |
Unit: Million
Currency: RMB Unaudited | |
Items | |
Amount for the reporting period (from July to September) | | |
Amount for the corresponding period of last year (from July to September) | | |
Amount from the beginning of the year to the end of the reporting period (from January to September) | | |
Amount from the beginning of last year to the end of the corresponding reporting period of last year (from January to September) | |
1. Revenue | |
| 24,122 | | |
| 21,462 | | |
| 61,952 | | |
| 56,134 | |
Less: Cost of sales | |
| 19,777 | | |
| 17,622 | | |
| 54,711 | | |
| 49,633 | |
Business taxes and surcharges | |
| 33 | | |
| 42 | | |
| 94 | | |
| 127 | |
Selling and distribution expenses | |
| 1,629 | | |
| 1,659 | | |
| 4,463 | | |
| 4,557 | |
General and administrative expenses | |
| 494 | | |
| 536 | | |
| 1,369 | | |
| 1,448 | |
Financial expenses | |
| 384 | | |
| 25 | | |
| 2,198 | | |
| -617 | |
Assets impairment loss | |
| | | |
| 10 | | |
| 6 | | |
| 10 | |
Add: Gains arising from changes in fair value (losses indicated by “–”) | |
| | | |
| | | |
| | | |
| | |
Investment income (loss indicated by “–”) | |
| 257 | | |
| 236 | | |
| 327 | | |
| 392 | |
Including: Investment gains on associated companies and joint ventures | |
| 250 | | |
| 235 | | |
| 319 | | |
| 311 | |
2. Operating profit (loss indicated by “–”) | |
| 2,062 | | |
| 1,804 | | |
| -562 | | |
| 1,368 | |
Add: Non-operating income | |
| 376 | | |
| 427 | | |
| 1,190 | | |
| 918 | |
Less: Non-operating expenses | |
| 8 | | |
| 17 | | |
| 23 | | |
| 33 | |
Including: Loss on disposal of non-current assets | |
| 4 | | |
| 1 | | |
| 5 | | |
| 10 | |
3. Total profit (total loss indicated by “–”) | |
| 2,430 | | |
| 2,214 | | |
| 605 | | |
| 2,253 | |
Less: Income tax expenses | |
| 546 | | |
| 502 | | |
| 61 | | |
| 482 | |
4. Net profit (net loss indicated by “–”) | |
| 1,884 | | |
| 1,712 | | |
| 544 | | |
| 1,771 | |
5. Earnings per share: | |
| | | |
| | | |
| | | |
| | |
(1) Basic earnings per share | |
| | | |
| | | |
| | | |
| | |
(2) Diluted earnings per share | |
| | | |
| | | |
| | | |
| | |
6. Other comprehensive income | |
| 6 | | |
| | | |
| 9 | | |
| -2 | |
7. Total comprehensive income | |
| 1,890 | | |
| 1,712 | | |
| 553 | | |
| 1,769 | |
Legal Representative of the Company: Mr. Si Xian Min (Chairman)
Chief of Accounting Work: Mr. Tan Wan Geng (President of the
Company) and Mr. Xu Jie Bo (Chief
Financial Officer of the Company)
Chief of the Accounting Department: Mr. Lu Hong Ye (General
Manager of the Finance Department of the
Company)
Consolidated Cash Flow Statement
From January
to September 2014
Prepared
by: China Southern Airlines Company Limited
| |
Unit: Million Currency: RMB Unaudited | |
Items | |
Amount from the beginning of the year to the end of the reporting period(from January to September) | | |
Amount from the beginning of last year to the end of the corresponding reporting period of last year(from January to September) | |
1. Cash flows from operating activities: | |
| | | |
| | |
Cash received from sales of goods or rendering of services | |
| 82,544 | | |
| 82,029 | |
Net increase in customer deposits and deposits in other banks | |
| | | |
| | |
Net increase in borrowings from central bank | |
| | | |
| | |
Net increase in advances from other financial institutions | |
| | | |
| | |
Cash received from original insurance policy premium | |
| | | |
| | |
Net cash received from reinsurance operations | |
| | | |
| | |
Net increase in policyholders’ deposits and investment | |
| | | |
| | |
Net increase in disposal of derivative financial assets | |
| | | |
| | |
Interest, fees and commissions received in cash | |
| | | |
| | |
Net increase in advances from banks and other financial institutions | |
| | | |
| | |
Net increase in repurchase of business funds | |
| | | |
| | |
Refund of taxes and surcharges | |
| 580 | | |
| | |
Cash received from other operating activities | |
| 1,624 | | |
| 536 | |
Sub-total of operating cash inflows from operating activities | |
| 84,748 | | |
| 82,565 | |
Cash paid for goods and services | |
| 59,047 | | |
| 58,002 | |
Net increase in customers deposits and advances | |
| | | |
| | |
Net increase in deposits with Central Bank and other banks | |
| | | |
| | |
Compensation paid pursuant to original insurance contract and settled in cash | |
| | | |
| | |
Interest, fees and commission paid in cash | |
| | | |
| | |
Insurance policy dividend paid by cash | |
| | | |
| | |
Cash paid to and on behalf of employees | |
| 12,162 | | |
| 10,471 | |
Payments of taxes and surcharges | |
| 1,811 | | |
| 2,152 | |
Cash paid relating to other operating activities | |
| 1,215 | | |
| 687 | |
Sub-total of cash outflows from operatingactivities | |
| 74,235 | | |
| 71,312 | |
Net cash flows from operating activities | |
| 10,513 | | |
| 11,253 | |
2. Cash flows from investment activities: | |
| | | |
| | |
Cash received from disposal of investments | |
| | | |
| | |
Investment income in cash | |
| 85 | | |
| 43 | |
Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets | |
| 287 | | |
| 236 | |
Net cash received from disposal of subsidiaries and other operating units | |
| | | |
| | |
Cash received from other investing activities | |
| 204 | | |
| 8,603 | |
Sub-total of cash inflows from investing activities | |
| 576 | | |
| 8,882 | |
Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets | |
| 5,135 | | |
| 10,911 | |
Investments paid in cash | |
| | | |
| | |
Net increase in pledged loans | |
| | | |
| | |
Net cash received from subsidiaries and other business units | |
| | | |
| | |
Cash paid relating to other investing activities | |
| | | |
| 7,980 | |
Sub-total of cash outflows from investment activities | |
| 5,135 | | |
| 18,891 | |
Net cash flows from investing activities | |
| -4,559 | | |
| -10,009 | |
3. Cash flows from financing activities: | |
| | | |
| | |
Proceeds received in cash from investments | |
| | | |
| 560 | |
Including: Cash received by subsidiaries from investment by minority interests | |
| | | |
| 560 | |
Cash received from borrowings | |
| 27,544 | | |
| 31,093 | |
Proceeds received in cash from bonds issuance | |
| 6,000 | | |
| 500 | |
Other proceeds in cash from financing activities | |
| | | |
| | |
Sub-total of cash inflows from financing activities | |
| 33,544 | | |
| 32,153 | |
Cash repayments of borrowings | |
| 31,746 | | |
| 25,499 | |
Cash payments for distribution of dividends, profits or payments of interest expense | |
| 2,100 | | |
| 2,076 | |
Including: Dividend and profit paid by subsidiaries to minority interests | |
| 2 | | |
| 79 | |
Cash paid for acquisition of minority interests by subsidiaries | |
| 5 | | |
| | |
Cash paid relating to other financing activities | |
| 1,055 | | |
| | |
Sub-total of cash outflows from financing activities | |
| 34,906 | | |
| 27,575 | |
Net cash flows from financing activities | |
| -1,362 | | |
| 4,578 | |
4. Effect of changes in exchange rate on cash and cash equivalents | |
| 2 | | |
| -33 | |
5. Net increase in cash and cash equivalents | |
| 4,594 | | |
| 5,789 | |
Add: Balance of cash and cash equivalents at the beginning of the period | |
| 12,170 | | |
| 10,082 | |
6. Balance of cash and cash equivalents at the end of the period | |
| 16,764 | | |
| 15,871 | |
Legal Representative of the Company: Mr. Si Xian Min (Chairman)
Chief of Accounting Work: Mr. Tan Wan Geng (President of the
Company) and Mr. Xu Jie Bo (Chief
Financial Officer of the Company)
Chief of the Accounting Department: Mr. Lu Hong Ye (General
Manager of the Finance Department of the
Company)
Cash Flow Statement of the Company
From January
to September 2014
Prepared
by: China Southern Airlines
Company Limited
| |
Unit: Million
Currency: RMB Unaudited | |
Items | |
Amount from the beginning of the year to the end of the reporting period(from January to September) | | |
Amount from the beginning of last year to the end of the corresponding reporting period of last year(from January to September) | |
1. Cash flows from operating activities: | |
| | | |
| | |
Cash received from sales of goods or rendering of services | |
| 63,505 | | |
| 61,426 | |
Refund of taxes and surcharges | |
| 580 | | |
| | |
Other cash received from operating activities | |
| 1,059 | | |
| 441 | |
Sub-total of operating cash inflows from operating activities | |
| 65,144 | | |
| 61,867 | |
Cash paid for purchase of goods and receiving of labour services | |
| 46,431 | | |
| 44,343 | |
Cash paid to and on behalf of employees | |
| 9,178 | | |
| 7,796 | |
Payments of taxes and surcharges | |
| 1,037 | | |
| 1,231 | |
Cash paid for other operating activities | |
| 834 | | |
| 444 | |
Sub-total of cash outflows from operating activities | |
| 57,480 | | |
| 53,814 | |
Net cash flows from operating activities | |
| 7,664 | | |
| 8,053 | |
2. Cash flows from investment activities: | |
| | | |
| | |
Cash received from disposal of investment | |
| | | |
| | |
Investment income in cash | |
| 104 | | |
| 117 | |
Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets | |
| 283 | | |
| 210 | |
Net cash received from disposal of subsidiaries and other operating units | |
| | | |
| | |
Cash received from other investing activities | |
| 103 | | |
| 52 | |
Sub-total of cash inflows from investing activities | |
| 490 | | |
| 379 | |
Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets | |
| 2,511 | | |
| 7,800 | |
Investments paid in cash | |
| | | |
| 840 | |
Cash paid for acquisition of minority interests by subsidiaries | |
| 5 | | |
| | |
Cash paid relating to other investing activities | |
| | | |
| | |
Sub-total of cash outflows from investment activities | |
| 2,516 | | |
| 8,640 | |
Net cash flows from investment activities | |
| -2,026 | | |
| -8,261 | |
3. Cash flow from financing activities: | |
| | | |
| | |
Proceeds received in cash from investments | |
| | | |
| | |
Cash received from borrowings | |
| 22,713 | | |
| 27,399 | |
Proceeds received in cash from bonds issuance | |
| 6,000 | | |
| 500 | |
Other proceeds in cash from financing activities | |
| | | |
| | |
Sub-total of cash inflows from financing activities | |
| 28,713 | | |
| 27,899 | |
Cash repayments of borrowings | |
| 28,364 | | |
| 23,425 | |
Cash payments for distribution of dividends, profits or payments of interest expense | |
| 1,912 | | |
| 1,725 | |
Cash paid relating to other financing activities | |
| | | |
| | |
Sub-total of cash outflows from financing activities | |
| 30,276 | | |
| 25,150 | |
Net cash flows from financing activities | |
| -1,563 | | |
| 2,749 | |
4. Effect of changes in exchange rate on cash and cash equivalents | |
| 5 | | |
| -31 | |
5. Net increase in cash and cash equivalents | |
| 4,080 | | |
| 2,510 | |
Add: Balance of cash and cash equivalents at the beginning of the period | |
| 5,468 | | |
| 5,367 | |
6. Balance of cash and cash equivalents at the end of the period | |
| 9,548 | | |
| 7,877 | |
Legal Representative of the Company: Mr. Si Xian Min (Chairman)
Chief of Accounting Work: Mr. Tan Wan Geng (President of the
Company) and Mr. Xu Jie Bo (Chief
Financial Officer of the Company)
Chief of the Accounting Department: Mr. Lu Hong Ye (General
Manager of the Finance Department of the
Company)
4.2 Audit Report
If the quarterly report has been audited by the certified public
accountant, the appendix of the report shall disclose the main body of the audit report.
¨Applicable xNot applicable
China Southern Airlines (NYSE:ZNH)
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From Apr 2024 to May 2024
China Southern Airlines (NYSE:ZNH)
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From May 2023 to May 2024