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
April 23, 2015
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 o
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.
Yeso
Nox
(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 April 22, 2015 on the Hong Kong Stock Exchange’s website at:
http://www.hkexnews.hk/listedco/listconews/SEHK/2015/0422/LTN201504221492.pdf,
in relation to the first quarterly report of 2015.
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: April 23, 2015
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.
FIRST QUARTERLY REPORT OF 2015
|
Summary
The 2015 first 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 Important Notice
| 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 | All Directors attended the meeting of the Board and considered and approved this report. |
| 1.3 | Mr. Si Xian Min, the responsible person of the Company,
Mr. Tan Wan Geng, the responsible person of the finance work, and the responsible person of the accounting department, Mr. Xiao
Li Xin (Chief Financial Officer of the Company) warrant the truthfulness, accuracy and completeness of the financial statements
contained in this quarterly report. |
| 1.4 | The first quarterly report of the Company is unaudited. |
2 Major accounting data and changes of shareholders of
the Company
2.1 Major accounting data
(Unit: Million Currency:
RMB)
| | |
31 March 2015 | | |
31 December 2014 | | |
Increase/ (decrease) (%) | |
| Total assets | |
| 188,333 | | |
| 189,697 | | |
| (0.72 | ) |
| Net assets attributable to the shareholders of the Listed Company | |
| 37,453 | | |
| 35,554 | | |
| 5.34 | |
| | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | | |
Increase/ (decrease) (%) | |
| Net cash flow from operating activities | |
| 5,441 | | |
| 987 | | |
| 451.27 | |
| | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | | |
Increase/ (decrease) (%) | |
| Operating revenue | |
| 27,718 | | |
| 25,951 | | |
| 6.81 | |
| Net profit attributable to the shareholders of the Listed Company | |
| 1,903 | | |
| (306 | ) | |
| 721.90 | |
| Net profit attributable to the shareholders of the Listed Company after deducting non-recurring gains and losses | |
| 1,832 | | |
| (324 | ) | |
| 665.43 | |
| Weighted average return on net assets (%) | |
| 5.21 | | |
| (0.90 | ) | |
| Increase by a percentage of 6.11 | |
| Basic earnings per share (Yuan/share) | |
| 0.19 | | |
| (0.03 | ) | |
| 733.33 | |
| Diluted earnings per share (Yuan/share) | |
| 0.19 | | |
| (0.03 | ) | |
| 733.33 | |
After deducting non-recurring gains and losses
√Applicable ¨ Not
applicable
(Unit: Million Currency: RMB)
| Items | |
Three months ended 31 March 2015 | | |
Notes | |
| Gains and losses on disposal of non-current assets | |
| 43 | | |
| | |
| Other non-operating income and expenses | |
| 39 | | |
| | |
| Influence of minority interests (after tax) | |
| (1 | ) | |
| | |
| Influence of income tax | |
| (10 | ) | |
| | |
| Total | |
| 71 | | |
| | |
| 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) |
238,168 |
| Particulars of the top ten shareholders |
| Name of the shareholder (in full) |
Number of shares held as at the end of the reporting period |
Shareholding
(%) |
Number of shares subject to trading restrictions |
Pledged or frozen shares |
Capacity |
| Status |
Number of shares |
| China Southern Air Holding Company (“CSAHC”) |
4,208,586,278 |
42.87% |
0 |
No |
0 |
State |
| HKSCC Nominees Limited |
1,746,130,197 |
17.79% |
0 |
Not known |
- |
Overseas legal entity |
| Nan Lung Holding Limited (“Nan Lung”) |
1,033,650,000 |
10.53% |
0 |
No |
0 |
State-owned legal entity |
|
Zhong Hang Xin Gang Guarantee Co., Ltd.
(中航鑫港擔保有限公司) |
80,000,000 |
0.81% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
| Zhao Xiaodong (趙曉東) |
68,742,254 |
0.70% |
0 |
Not known |
- |
Domestic Individual |
| Wang Lei (王磊) |
38,645,000 |
0.39% |
0 |
Not known |
- |
Domestic Individual |
| China Foreign Economy And Trade Trust Co., Ltd. - Hua Xia Fortune No.1 Securities Investment Single Trust Fund (中國對外經濟貿易信托有限公司－華夏財富1號證券投資單一資金信托計劃 ) |
35,491,252 |
0.36% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
|
Bank of China Limited –Huatai-PineBridge Positive Growth
Mixed Fund (中國銀行股份有限公司－華泰柏瑞積極成長混合型證券投資基金)
|
31,145,990 |
0.32% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
| Taikang Life Insurance Company Limited – Dividend – Personal Dividend – 019L – FH002 Shanghai (泰康人壽保險股份有限公司－分紅－個人分紅－019L－FH002滬) |
28,018,023 |
0.29% |
0 |
Not known |
- |
Domestic Non-state-owned legal entity |
| National Social Security Fund 112 (全國社保基金一一二組合) |
22,999,947 |
0.23% |
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 |
4,208,586,278 |
RMB-denominated Ordinary shares |
4,208,586,278 |
| HKSCC Nominees Limited |
1,746,130,197 |
Overseas listed foreign shares |
1,746,130,197 |
| Nan Lung Holding Limited |
1,033,650,000 |
Overseas listed foreign shares |
1,033,650,000 |
| Zhong Hang Xin Gang Guarantee Co., Ltd. |
80,000,000 |
RMB-denominated Ordinary shares |
80,000,000 |
| Zhao Xiaodong |
68,742,254 |
RMB-denominated Ordinary shares |
68,742,254 |
| Wang Lei |
38,645,000 |
RMB-denominated Ordinary shares |
38,645,000 |
| China Foreign Economy And Trade Trust Co., Ltd. - Hua Xia Fortune No.1 Securities Investment Single Trust Fund |
35,491,252 |
RMB-denominated Ordinary shares |
35,491,252 |
|
Bank of China Limited –Huatai-PineBridge Positive Growth
Mixed Fund
|
31,145,990 |
RMB-denominated Ordinary shares |
31,145,990 |
|
Taikang Life Insurance Company
Limited – Dividend – Personal Dividend – 019L – FH002 Shanghai
|
28,018,023 |
RMB-denominated Ordinary shares |
28,018,023 |
| National Social Security Fund 112 |
22,999,947 |
RMB-denominated Ordinary shares |
22,999,947 |
| 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. |
| |
|
|
|
|
|
|
|
|
|
|
| 2.3 | Number of preference shareholders, particulars of the
top ten preference shareholders and the top ten preference shareholders holding the Company’s tradable preference shares
not subject to selling restrictions as at the end of the reporting period |
¨Applicable
√Not applicable
§3 Major Events
| 3.1 | Significant changes in major accounting items and financial
indicators of the Company and the reasons for such changes |
√Applicable
□Not applicable
3.1.1
Significant changes in major items in consolidated balance sheet:
Unit: million Currency: RMB
| Items | |
31 March 2015 | | |
31 December 2014 | | |
Increase/ (decrease) (%) | | |
Main reason(s) for the change |
| Other current liabilities | |
| - | | |
| 3,000 | | |
| (100.00 | ) | |
Mainly due to the repayment of short-term financing bills in the reporting period. |
| Salaries and wages payable | |
| 1,595 | | |
| 2,405 | | |
| (33.68 | ) | |
Mainly due to the payment of performance salary for the year ended 31 December 2014 in the reporting period. |
| Taxes payable | |
| 725 | | |
| 436 | | |
| 66.28 | % | |
Mainly due to the increase in the accrual of enterprise income tax which has not yet paid. |
3.1.2 Significant changes in major items
in consolidated income statement:
Unit: million Currency: RMB
| Items | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | | |
Increase/ (decrease) (%) | | |
Main reason(s) for the change |
| Investment income | |
| 210.00 | | |
| 47.00 | | |
| 346.81 | | |
Mainly due to the increasing demand on aviation market and increase in profit of investing units in the reporting period. |
| Operating profit/(loss) | |
| 2,526.00 | | |
| (483.00 | ) | |
| 622.98 | | |
Mainly due to the increasing demand on aviation market and lower price of fuel oil in the reporting period. |
| Non-operating income | |
| 325.00 | | |
| 228.00 | | |
| 42.54 | | |
Mainly due to the increase of gains on disposal of assets and increase of compensation income in the reporting period. |
| Income tax expense/(credit) | |
| 624.00 | | |
| (90.00 | ) | |
| 793.33 | | |
Mainly due to the increase of profit in the reporting period. |
3.1.3 Significant changes in major items
in consolidated cash flow statement:
Unit: million Currency: RMB
| Items | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | | |
Increase/ (decrease) (%) | | |
Main reason(s) for the change |
| Refund of taxes and surcharges | |
| 298 | | |
| - | | |
| 100.00 | | |
Mainly due to the receipt of Refund of VAT in the reporting period. |
| Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long term assets | |
| 3,982 | | |
| 2,999 | | |
| 32.78 | | |
Mainly due to the increasing amount of airplane purchase |
Cash received by subsidiaries from
investment by minority interests | |
| 1,120 | | |
| - | | |
| 100.00 | | |
Mainly due to the investment to the subsidiary of Henan airline Company Ltd. from minority interests |
| Cash received from borrowings | |
| 4,120 | | |
| 6,582 | | |
| (37.41 | ) | |
Mainly due to the decrease in receipt of new borrowings |
| Proceeds received in cash from bonds issuance | |
| - | | |
| 3,000 | | |
| (100.00 | ) | |
Mainly due to the issuance of short-term financing bill in the same period of the previous year |
Cash payments for distribution of dividends,
profits or payments of interest expense | |
| 769 | | |
| 498 | | |
| 54.42 | | |
Mainly due to 1) the increasing balance of borrowings and the increasing related interest expense and 2) the repayment of short-term financing bill and payment of the related interest expense |
| 3.2 | Analysis and explanation of the development of major events
and their impact and proposal as to the solutions |
□Applicable
√Not applicable
| 3.3 | Performance of the undertakings by the Company and its shareholders holding more than 5%
equity interests of the Company |
√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. It has been strictly performed. |
| 2. | The 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 strictly performed. |
| 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 strictly performed. |
| 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: (1) the above title certificates should be obtained by CSAHC by the end of 2008; (2) all the costs and
expenses arising from the application of the relevant title certificates would be borne by CSAHC; and (3) 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 such kind of change of
ownership title requires compliance with the state and local laws and regulations, and a series of formalities in relation to the
government approval is required to be attended to, CSAHC has been actively communicating with the government. However, as at the
end of the reporting period, such undertakings are still 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 Southern Airlines Group Finance Company Limited (the "Finance Company"): (1) Finance Company 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; (2) the operations of Finance Company 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 Finance Company of the Company are definitely secure. In future, Finance Company will continue to operate in
strict compliance with the requirements of the relevant laws and regulations; (3) in respect of the Company’s deposits with
and borrowings from Finance Company, 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; and (4) 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 strictly performed. |
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
√Not applicable
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
22 April 2015
As at the date of this announcement,
the Directors include Si Xian Min, Yuan Xin An and Yang Li Hua as non-executive Directors, Tan Wan Geng, Zhang Zi Fang 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.
4、 APPENDIX
Consolidated Balance Sheet
As at 31 March 2015
Prepared
by: China Southern Airlines Company Limited
Unit：Million
Currency: RMB Unaudited
| Items | |
31 March 2015 | | |
31 December 2014 | |
| Current assets: | |
| | |
| |
| Cash and bank balances | |
| 14,622 | | |
| 18,306 | |
| Settlement reserves fund | |
| | | |
| | |
| Deposits with banks and other financial institutions | |
| | | |
| | |
| Financial assets at fair value through profit or loss | |
| | | |
| | |
| Derivative financial assets | |
| | | |
| | |
| Notes receivable | |
| | | |
| | |
| Accounts receivable | |
| 3,236 | | |
| 2,705 | |
| Prepayments | |
| 912 | | |
| 1,104 | |
| Premiums receivable | |
| | | |
| | |
| Receivables from reinsurers | |
| | | |
| | |
| Provisions for reinsurance contracts | |
| | | |
| | |
| Interest receivable | |
| | | |
| | |
| Dividends receivable | |
| 2 | | |
| 4 | |
| Other receivables | |
| 2,468 | | |
| 2,474 | |
| Purchase of financial assets resold | |
| | | |
| | |
| Inventories | |
| 1,682 | | |
| 1,661 | |
| Assets classified as held for sale | |
| | | |
| | |
| Non-current assets due within one year | |
| | | |
| | |
| Other current assets | |
| 1,126 | | |
| 1,586 | |
| Total current assets | |
| 24,048 | | |
| 27,840 | |
| Non-current assets: | |
| | | |
| | |
| Entrusted loans and advances | |
| | | |
| | |
| Available-for-sale financial assets | |
| 239 | | |
| 240 | |
| Held-to-maturity investments | |
| | | |
| | |
| Long-term receivables | |
| | | |
| | |
| Long-term equity investments | |
| 3,178 | | |
| 2,937 | |
| Investment properties | |
| 465 | | |
| 459 | |
| Fixed assets | |
| 136,010 | | |
| 134,001 | |
| Construction in progress | |
| 19,410 | | |
| 19,247 | |
| Construction materials | |
| | | |
| | |
| Fixed assets pending for disposal | |
| | | |
| | |
| Bearer biological assets | |
| | | |
| | |
| Oil and gas assets | |
| | | |
| | |
| Intangible assets | |
| 2,514 | | |
| 2,544 | |
| Development costs | |
| | | |
| | |
| Goodwill | |
| | | |
| | |
| Long-term prepaid expenses | |
| 742 | | |
| 733 | |
| Deferred tax assets | |
| 1,077 | | |
| 1,045 | |
| Other non-current assets | |
| 650 | | |
| 651 | |
| Total non-current assets | |
| 164,285 | | |
| 161,857 | |
| Total assets | |
| 188,333 | | |
| 189,697 | |
| Current liabilities: | |
| | | |
| | |
| Short-term borrowings | |
| 8,513 | | |
| 7,243 | |
| Borrowings from central bank | |
| | | |
| | |
| Deposits from customers and other banks | |
| | | |
| | |
| Advances from banks and other financial institutions | |
| | | |
| | |
| Financial liabilities at fair value through profit and loss | |
| | | |
| | |
| Derivative financial liabilities | |
| | | |
| | |
| Notes payable | |
| | | |
| 11 | |
| Accounts payable | |
| 12,283 | | |
| 11,211 | |
| Sales in advance of carriage | |
| 5,055 | | |
| 6,101 | |
| Financial assets sold under agreements repurchase | |
| | | |
| | |
| Handling charges and commissions payable | |
| | | |
| | |
| Salaries and wages payable | |
| 1,595 | | |
| 2,405 | |
| Taxes payable | |
| 725 | | |
| 436 | |
| Interest payable | |
| 335 | | |
| 471 | |
| Dividends payable | |
| | | |
| | |
| Other payables | |
| 4,501 | | |
| 5,320 | |
| Amounts due to reinsurers | |
| | | |
| | |
| Reserves on insurance contracts | |
| | | |
| | |
| Securities trading agency fees | |
| | | |
| | |
| Securities underwriting fees | |
| | | |
| | |
| Liabilities classified as held for sale | |
| | | |
| | |
| Non-current liabilities due within one year | |
| 17,581 | | |
| 17,888 | |
| Other current liabilities | |
| | | |
| 3,000 | |
| Total current liabilities | |
| 50,588 | | |
| 54,086 | |
| Non-current liabilities: | |
| | | |
| | |
| Long-term borrowings | |
| 40,170 | | |
| 42,066 | |
| Bonds payable | |
| | | |
| | |
| Including: Preference share | |
| | | |
| | |
| Perpetual capital securities | |
| | | |
| | |
| Long-term payables | |
| 44,284 | | |
| 43,919 | |
| Long-term employee benefits payable | |
| 19 | | |
| 25 | |
| Special items payable | |
| | | |
| | |
| Estimated liabilities | |
| | | |
| | |
| Deferred revenue | |
| 2,954 | | |
| 2,831 | |
| Deferred tax liabilities | |
| 878 | | |
| 873 | |
| Other non-current liabilities | |
| 1,845 | | |
| 1,623 | |
| Total non-current liabilities | |
| 90,150 | | |
| 91,337 | |
| Total liabilities | |
| 140,738 | | |
| 145,423 | |
| Owners' equity | |
| | | |
| | |
| Paid-in capital | |
| 9,818 | | |
| 9,818 | |
| Other equity instruments | |
| | | |
| | |
| Including: Preference share | |
| | | |
| | |
| Perpetual capital securities | |
| | | |
| | |
| Capital surplus | |
| 14,388 | | |
| 14,388 | |
| Less: Treasury shares | |
| | | |
| | |
| Other comprehensive income | |
| 49 | | |
| 53 | |
| Special reserve | |
| | | |
| | |
| Surplus reserve | |
| 1,306 | | |
| 1,306 | |
| Provision for ordinary risks | |
| | | |
| | |
| Undistributed profits | |
| 11,892 | | |
| 9,989 | |
| Total equity attributable to shareholders of the Company | |
| 37,453 | | |
| 35,554 | |
| Minority interests | |
| 10,142 | | |
| 8,720 | |
| Total owners' equity | |
| 47,595 | | |
| 44,274 | |
| Total liabilities and owners' equity | |
| 188,333 | | |
| 189,697 | |
Legal Representative of the Company: Mr. Si Xian Min
Responsible person of the finance work : Mr. Tan Wan Geng
Responsible person of the accounting department: Mr. Xiao Li
Xin
Balance Sheet of the Company
As at 31 March 2015
Prepared by: China Southern
Airlines Company Limited
Unit: Million Currency: RMB Unaudited
| Items | |
31 March 2015 | | |
31 December 2014 | |
| Current assets: | |
| |
| Cash and bank balances | |
| 8,142 | | |
| 10,755 | |
| Financial assets at fair value through profit or loss | |
| | | |
| | |
| Derivative financial assets | |
| | | |
| | |
| Notes receivable | |
| | | |
| | |
| Accounts receivable | |
| 2,747 | | |
| 2,232 | |
| Prepayments | |
| 519 | | |
| 743 | |
| Interest receivable | |
| | | |
| | |
| Dividends receivable | |
| 1 | | |
| 4 | |
| Other receivables | |
| 1,437 | | |
| 4,616 | |
| Inventories | |
| 1,174 | | |
| 1,179 | |
| Assets classified as held for sale | |
| | | |
| | |
| Non-current assets due within one year | |
| | | |
| | |
| Other current assets | |
| 931 | | |
| 1,434 | |
| Total current assets | |
| 14,951 | | |
| 20,963 | |
| Non-current assets: | |
| | | |
| | |
| Available-for-sale financial assets | |
| 149 | | |
| 140 | |
| Held-to-maturity investments | |
| | | |
| | |
| Long-term receivables | |
| | | |
| | |
| Long-term equity investments | |
| 7,818 | | |
| 6,255 | |
| Investment properties | |
| 231 | | |
| 229 | |
| Fixed assets | |
| 106,262 | | |
| 105,214 | |
| Construction in progress | |
| 11,743 | | |
| 11,960 | |
| Construction materials | |
| | | |
| | |
| Fixed assets pending for disposal | |
| | | |
| | |
| Bearer biological assets | |
| | | |
| | |
| Oil and gas assets | |
| | | |
| | |
| Intangible assets | |
| 1,471 | | |
| 1,491 | |
| Development costs | |
| | | |
| | |
| Goodwill | |
| | | |
| | |
| Long-term prepaid expenses | |
| 333 | | |
| 342 | |
| Deferred tax assets | |
| 1,035 | | |
| 1,004 | |
| Other non-current assets | |
| 602 | | |
| 600 | |
| Total non-current assets | |
| 129,644 | | |
| 127,235 | |
| Total assets | |
| 144,595 | | |
| 148,198 | |
| Current liabilities: | |
| | | |
| | |
| Short-term borrowings | |
| 7,448 | | |
| 5,993 | |
| Financial liabilities at fair value through profit and loss | |
| | | |
| | |
| Derivative financial liabilities | |
| | | |
| | |
| Notes payable | |
| | | |
| | |
| Accounts payable | |
| 9,020 | | |
| 8,292 | |
| Sales in advance of carriage | |
| 4,521 | | |
| 5,413 | |
| Salaries and wages payable | |
| 959 | | |
| 1,814 | |
| Taxes payable | |
| 492 | | |
| 303 | |
| Interest payable | |
| 277 | | |
| 417 | |
| Dividends payable | |
| | | |
| | |
| Other payables | |
| 6,581 | | |
| 6,221 | |
| Liabilities classified as held for sale | |
| | | |
| | |
| Non-current liabilities due within one year | |
| 14,148 | | |
| 15,167 | |
| Other current liabilities | |
| | | |
| 3,000 | |
| Total current liabilities | |
| 43,446 | | |
| 46,620 | |
| Non-current liabilities: | |
| | | |
| | |
| Long-term borrowings | |
| 29,569 | | |
| 30,844 | |
| Bonds payable | |
| | | |
| | |
| Including: Preference share | |
| | | |
| | |
| Perpetual capital securities | |
| | | |
| | |
| Long-term payables | |
| 37,462 | | |
| 38,357 | |
| Long-term employee benefits payable | |
| 17 | | |
| 23 | |
| Special items payable | |
| | | |
| | |
| Estimated liabilities | |
| | | |
| | |
| Deferred revenue | |
| 2,535 | | |
| 2,441 | |
| Deferred tax liabilities | |
| | | |
| | |
| Other non-current liabilities | |
| 1,341 | | |
| 1,184 | |
| Total non-current liabilities | |
| 70,924 | | |
| 72,849 | |
| Total liabilities | |
| 114,370 | | |
| 119,469 | |
| Owners' equity | |
| | | |
| | |
| Paid-in capital | |
| 9,818 | | |
| 9,818 | |
| Other equity instruments | |
| | | |
| | |
| Including: Preference share | |
| | | |
| | |
| Perpetual capital securities | |
| | | |
| | |
| Capital surplus | |
| 14,100 | | |
| 14,100 | |
| Less: Treasury shares | |
| | | |
| | |
| Other comprehensive income | |
| 29 | | |
| 28 | |
| Special reserve | |
| | | |
| | |
| Surplus reserve | |
| 1,306 | | |
| 1,306 | |
| Undistributed profits | |
| 4,972 | | |
| 3,477 | |
| Total owners' equity | |
| 30,225 | | |
| 28,729 | |
| Total liabilities and owners' equity | |
| 144,595 | | |
| 148,198 | |
Legal Representative of the Company: Mr. Si Xian Min
Responsible person of the finance work : Mr. Tan Wan Geng
Responsible person of the accounting department: Mr. Xiao Li
Xin
Consolidated Income Statement
For the three months ended 31 March 2015
Prepared
by: China Southern Airlines Company Limited
Unit：Million
Currency: RMB Unaudited
| Items | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | |
| 1. Total revenue | |
| 27,718 | | |
| 25,951 | |
| Including: Operating income | |
| 27,718 | | |
| 25,951 | |
| Interest income | |
| | | |
| | |
| Premiums earned | |
| | | |
| | |
| Fees and commission income | |
| | | |
| | |
| 2. Total operating costs | |
| 25,402 | | |
| 26,481 | |
| Including: Cost of sales | |
| 21,701 | | |
| 22,678 | |
| 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 | |
| 58 | | |
| 53 | |
| Selling and distribution expenses | |
| 1,905 | | |
| 1,801 | |
| General and administrative expenses | |
| 690 | | |
| 574 | |
| Financial expenses | |
| 1,048 | | |
| 1,375 | |
| Assets impairment losses | |
| | | |
| | |
| Add: Gains/(losses) arising from changes in fair value | |
| | | |
| | |
| Investment income/ (losses) | |
| 210 | | |
| 47 | |
| Including: Share of profit of associates and joint ventures | |
| 210 | | |
| 45 | |
| Exchange gains /(losses) | |
| | | |
| | |
| 3. Operating profit/ (losses) | |
| 2,526 | | |
| (483 | ) |
| Add: Non-operating income | |
| 325 | | |
| 228 | |
| Including: Gains on disposal of non-current assets | |
| 51 | | |
| 2 | |
| Less: Non-operating expenses | |
| 13 | | |
| 6 | |
| Including: Losses on disposal of non-current assets | |
| 8 | | |
| 1 | |
| 4. Total profits/ (losses) | |
| 2,838 | | |
| (261 | ) |
| Less: Income tax expenses/(credit) | |
| 624 | | |
| (90 | ) |
| 5. Net profit/ (losses) | |
| 2,214 | | |
| (171 | ) |
| Net profit/(losses) attributable to shareholders of the Company | |
| 1,903 | | |
| (306 | ) |
| Minority interests | |
| 311 | | |
| 135 | |
| 6. Net other comprehensive income/(losses) after tax | |
| (13 | ) | |
| (1 | ) |
| Net other comprehensive income/(losses) after tax attributable to shareholders of the Company | |
| (4 | ) | |
| (1 | ) |
| (1) Other comprehensive income/(losses) that will be reclassified to the profit and losses | |
| (4 | ) | |
| (1 | ) |
| Including: The attributable share of other comprehensive income/(losses) which will be reclassified to the profit and losses under equity method | |
| (6 | ) | |
| - | |
| Gains/(losses) arising from changes in fair value of available-for-sale financial assets | |
| 2 | | |
| (1 | ) |
| Net other comprehensive income/(losses) after tax attributable to minority interests | |
| (9 | ) | |
| - | |
| 7. Total comprehensive income | |
| 2,201 | | |
| (172 | ) |
| Total comprehensive income attributable to shareholders of the Company | |
| 1,899 | | |
| (307 | ) |
| Total comprehensive income attributable to minority interests | |
| 302 | | |
| 135 | |
| 8. Earnings per share: | |
| | | |
| | |
| (1) Basic earnings per share | |
| 0.19 | | |
| (0.03 | ) |
| (2) Diluted earnings per share | |
| 0.19 | | |
| (0.03 | ) |
Legal Representative of the Company: Mr. Si Xian Min
Responsible person of the finance work : Mr. Tan Wan Geng
Responsible person of the accounting department: Mr. Xiao Li
Xin
Income Statement of the Company
For the three months ended 31 March 2015
Prepared
by: China Southern Airlines Company Limited
Unit：Million
Currency：RMB Unaudited
| Items | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | |
| 1. Revenue | |
| 19,899 | | |
| 19,575 | |
| Less: Cost of sales | |
| 15,650 | | |
| 17,402 | |
| Business taxes and surcharges | |
| 30 | | |
| 32 | |
| Selling and distribution expenses | |
| 1,358 | | |
| 1,363 | |
| General and administrative expenses | |
| 455 | | |
| 400 | |
| Financial expenses | |
| 904 | | |
| 1,234 | |
| Assets impairment loss | |
| | | |
| | |
| Add: Gains/(losses) arising from changes in fair value | |
| | | |
| | |
| Investment income/ (losses) | |
| 201 | | |
| 39 | |
| Including: Investment gains on associated companies and joint ventures | |
| 201 | | |
| 39 | |
| 2. Operating profit/ (losses) | |
| 1,703 | | |
| (817 | ) |
| Add: Non-operating income | |
| 232 | | |
| 163 | |
| Including: Gains on disposal of non-current assets | |
| 42 | | |
| 1 | |
| Less: Non-operating expenses | |
| 10 | | |
| 5 | |
| Including: Loss on disposal of non-current assets | |
| 5 | | |
| 1 | |
| 3. Total profit/ ( losses) | |
| 1,925 | | |
| (659 | ) |
| Less: Income tax expenses/(credit) | |
| 431 | | |
| (174 | ) |
| 4. Net profit /(losses) | |
| 1,494 | | |
| (485 | ) |
| 5. Net other comprehensive income/(losses) after tax | |
| 1 | | |
| (2 | ) |
| (1) Other comprehensive income/(losses) that will be reclassified to the profit and losses | |
| 1 | | |
| (2 | ) |
| Including: The attributable share of other comprehensive income/(losses) which will be reclassified to the profit and losses under equity method | |
| (4 | ) | |
| - | |
| Gains/(losses) arising from changes in fair value of available-for-sale financial assets | |
| 5 | | |
| (2 | ) |
| 6. Total comprehensive income/(losses) | |
| 1,495 | | |
| (487 | ) |
| 7. Earnings per share: | |
| | | |
| | |
| (1) Basic earnings per share | |
| | | |
| | |
| (2) Diluted earnings per share | |
| | | |
| | |
Legal Representative of the Company: Mr. Si Xian Min
Responsible person of the finance work : Mr. Tan Wan Geng
Responsible person of the accounting department: Mr. Xiao Li
Xin
Consolidated Cash Flow Statement
For the three months ended 31 March 2015
Prepared
by: China Southern Airlines Company Limited
Unit: Million Currency: RMB Unaudited
| Items | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | |
| 1. Cash flows from operating activities: | |
| | |
| |
| Cash received from sales of goods or rendering of services | |
| 28,160 | | |
| 25,693 | |
| 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 financial assets at fair value through profit or loss | |
| | | |
| | |
| 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 | |
| 298 | | |
| | |
| Cash received from other operating activities | |
| 162 | | |
| 133 | |
| Sub-total of operating cash inflows from operating activities | |
| 28,620 | | |
| 25,826 | |
| Cash paid for goods and services | |
| 17,700 | | |
| 19,911 | |
| 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 | |
| 4,822 | | |
| 4,321 | |
| Payments of taxes and surcharges | |
| 397 | | |
| 333 | |
| Cash paid relating to other operating activities | |
| 260 | | |
| 274 | |
| Sub-total of cash outflows from operating activities | |
| 23,179 | | |
| 24,839 | |
| Net cash flows from operating activities | |
| 5,441 | | |
| 987 | |
| 2. Cash flows from investment activities: | |
| | | |
| | |
| Cash received from disposal of investments | |
| | | |
| | |
| Investment income in cash | |
| 3 | | |
| 60 | |
| Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets | |
| 59 | | |
| 25 | |
| Net cash received from disposal of subsidiaries and other operating units | |
| | | |
| | |
| Cash received from other investing activities | |
| 70 | | |
| 59 | |
| Sub-total of cash inflows from investing activities | |
| 132 | | |
| 144 | |
| Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets | |
| 3,982 | | |
| 2,999 | |
| Investments paid in cash | |
| 38 | | |
| | |
| Net increase in pledged loans | |
| | | |
| | |
| Net cash received from subsidiaries and other business units | |
| | | |
| | |
| Cash paid relating to other investing activities | |
| | | |
| | |
| Sub-total of cash outflows from investment activities | |
| 4,020 | | |
| 2,999 | |
| Net cash flows from investing activities | |
| (3,888 | ) | |
| (2,855 | ) |
| 3. Cash flows from financing activities: | |
| | | |
| | |
| Proceeds received in cash from investments | |
| 1,120 | | |
| | |
| Including: Cash received by subsidiaries from investment by minority interests | |
| 1,120 | | |
| | |
| Cash received from borrowings | |
| 4,120 | | |
| 6,582 | |
| Proceeds received in cash from bonds issuance | |
| | | |
| 3,000 | |
| Other proceeds in cash from financing activities | |
| 283 | | |
| | |
| Sub-total of cash inflows from financing activities | |
| 5,523 | | |
| 9,582 | |
| Cash repayments of borrowings | |
| 9,698 | | |
| 7,817 | |
| Cash payments for distribution of dividends, profits or payments of interest expense | |
| 769 | | |
| 498 | |
| Including: Dividend and profit paid by subsidiaries to minority interests | |
| | | |
| | |
| Cash paid relating to other financing activities | |
| - | | |
| 2 | |
| Sub-total of cash outflows from financing activities | |
| 10,467 | | |
| 8,317 | |
| Net cash flows from financing activities | |
| (4,944 | ) | |
| 1,265 | |
| 4. Effect of changes in exchange rate on cash and cash equivalents | |
| (10 | ) | |
| 26 | |
| 5. Net increase in cash and cash equivalents | |
| (3,401 | ) | |
| (577 | ) |
| Add: Balance of cash and cash equivalents at the beginning of the period | |
| 17,868 | | |
| 12,170 | |
| 6. Balance of cash and cash equivalents at the end of the period | |
| 14,467 | | |
| 11,593 | |
Legal Representative of the Company: Mr. Si Xian Min
Responsible person of the finance work : Mr. Tan Wan Geng
Responsible person of the accounting department: Mr. Xiao Li
Xin
Cash Flow Statement of the Company
For the three months ended 31 March 2015
Prepared
by：China Southern Airlines
Company Limited
Unit：Million
Currency：RMB Unaudited
| Items | |
Three months ended 31 March 2015 | | |
Three months ended 31 March 2014 | |
| 1. Cash flows from operating activities: | |
| | | |
| | |
| Cash received from sales of goods or rendering of services | |
| 20,744 | | |
| 19,763 | |
| Refund of taxes and surcharges | |
| 298 | | |
| - | |
| Other cash received from operating activities | |
| 176 | | |
| 64 | |
| Sub-total of operating cash inflows from operating activities | |
| 21,218 | | |
| 19,827 | |
| Cash paid for purchase of goods and receiving of labour services | |
| 13,300 | | |
| 15,504 | |
| Cash paid to and on behalf of employees | |
| 3,531 | | |
| 3,319 | |
| Payments of taxes and surcharges | |
| 255 | | |
| 225 | |
| Cash paid for other operating activities | |
| 223 | | |
| 192 | |
| Sub-total of cash outflows from operating activities | |
| 17,309 | | |
| 19,240 | |
| Net cash flows from operating activities | |
| 3,909 | | |
| 587 | |
| 2. Cash flows from investment activities: | |
| | | |
| | |
| Cash received from disposal of investment | |
| | | |
| | |
| Investment income in cash | |
| 3 | | |
| 74 | |
| Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets | |
| 3,044 | | |
| 21 | |
| Net cash received from disposal of subsidiaries and other operating units | |
| | | |
| | |
| Cash received from other investing activities | |
| 21 | | |
| 25 | |
| Sub-total of cash inflows from investing activities | |
| 3,068 | | |
| 120 | |
| Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets | |
| 2,180 | | |
| 1,155 | |
| Investments paid in cash | |
| 1,366 | | |
| 2 | |
| Net cash paid relating to acquisition of subsidiaries and other operating units | |
| | | |
| | |
| Cash paid relating to other investing activities | |
| | | |
| | |
| Sub-total of cash outflows from investment activities | |
| 3,546 | | |
| 1,157 | |
| Net cash flows from investment activities | |
| (478 | ) | |
| (1,037 | ) |
| 3. Cash flow from financing activities: | |
| | | |
| | |
| Proceeds received in cash from investments | |
| | | |
| | |
| Cash received from borrowings | |
| 2,235 | | |
| 4,806 | |
| Other proceeds in cash from financing activities | |
| - | | |
| 3,000 | |
| Sub-total of cash inflows from financing activities | |
| 2,235 | | |
| 7,806 | |
| Cash repayments of borrowings | |
| 7,608 | | |
| 6,694 | |
| Cash payments for distribution of dividends, profits or payments of interest expense | |
| 663 | | |
| 455 | |
| Cash paid relating to other financing activities | |
| | | |
| | |
| Sub-total of cash outflows from financing activities | |
| 8,271 | | |
| 7,149 | |
| Net cash flows from financing activities | |
| (6,036 | ) | |
| 657 | |
| 4. Effect of changes in exchange rate on cash and cash equivalents | |
| (11 | ) | |
| 24 | |
| 5. Net increase in cash and cash equivalents | |
| (2,616 | ) | |
| 231 | |
| Add: Balance of cash and cash equivalents at the beginning of the period | |
| 10,662 | | |
| 5,468 | |
| 6. Balance of cash and cash equivalents at the end of the period | |
| 8,046 | | |
| 5,699 | |
Legal Representative of the Company: Mr. Si Xian Min
Responsible person of the finance work : Mr. Tan Wan Geng
Responsible person of the accounting department: Mr. Xiao Li
Xin
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