Shandong Airlines Co., Ltd. Summary of Annual Report 2013
Shandong Airlines Co., Ltd.
Summary of Annual Report 2013
1. Important Notice
The summary is abstract from full-text of annual report, for more details information, investors should found in the full-text of annual
report that published on website of Shenzhen Stock Exchange and other website appointed by CSRC.
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 Secretary of the Board
Name Dong Qiantang Fan Peng
Tel. 0531－85698229 0531－85698678
Fax. 0531－85698767 ext.8679 0531－85698767 ext.8679
E-mail dongqt@shandongair.com.cn fanp@shandongair.com.cn
2. Main financial data and changes of shareholders
(1) Main financial data
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□ Yes √ No
Changes over last
2013 2012 2011
year (%)
Operating income (RMB) 11,427,157,933.15 10,993,024,914.41 3.95% 9,666,969,745.20
Net profit attributable to shareholders
389,081,811.72 589,810,932.47 -34.03% 771,225,549.05
of the listed company(RMB)
Net profit attributable to shareholders
of the listed company after deducting 137,850,318.37 490,146,637.15 -71.88% 751,635,820.83
non-recurring gains and losses(RMB)
Net cash flow arising from operating
1,411,186,522.15 1,726,317,500.75 -18.25% 2,245,050,664.90
activities(RMB)
Basic earnings per share (RMB/Share) 0.97 1.47 -34.01% 1.93
Diluted earnings per share
0.97 1.47 -34.01% 1.93
(RMB/Share)
11.28 percentage
Weighted average ROE (%) 15.08% 26.36% 45.05%
down
End of 2013 End of 2012 Changes over end of
End of 2011
last year (%)
Total assets (RMB) 11,403,124,428.82 11,261,341,430.03 1.26% 9,772,985,545.97
Net assets attributable to shareholder of 2,708,137,664.00 2,479,055,852.28 9.24% 2,049,244,919.81
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Shandong Airlines Co., Ltd. Summary of Annual Report 2013
listed company (RMB)
(2) Statement of shares held by top 10 shareholders
Total shareholders ended as the
Total shareholders in reporting
17,064 5th trading day before annual 17,034
period
report disclosed
Particular about shares held by top ten shareholders
Amount of Shares pledge or frozen
Proportion of Amount of
Shareholders Nature restricted
shares held (%) shares held Status Amount
shares held
State-owned
SHANDONG AVIATION GROUP 42% 168,004,000 168,004,000
legal person
State-owned
AIR CHINA LIMITED 22.8% 91,200,000 91,200,000
legal person
GUOTAI JUNAN Foreign
0.88% 3,537,773 0
SECURITIES(HONGKONG) LIMITED legal person
WANXIANG INTERNATIONAL Foreign
0.45% 1,805,525 0
INVESTMENT CORPORATION legal person
Domestic
Chen Jingjian natural 0.36% 1,438,800 0
person
Domestic
Ou Yanping natural 0.24% 945,043 0
person
Domestic
Yao Ming natural 0.23% 927,000 0
person
Foreign
HUANG LIU LIA natural 0.23% 918,917 0
person
Domestic
Ye Qufa natural 0.2% 810,000 0
person
Domestic
Bao Xiuzhen natural 0.2% 800,000 0
person
1. Shandong Aviation Group 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 shares of the Company on behalf of the State with unlisted
shares; Air China is the first largest shareholder of SDA and the actual
Explanation on associated relationship among the controller of the Company.
aforesaid shareholders
3. Among the above the top ten shareholders, Air China is the first largest
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.
(3) Property right and controlling relationships between the actual controllers of the Company and the
Company is as follows
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Shandong Airlines Co., Ltd. Summary of Annual Report 2013
Shandong Aviation Group
42%
Shandong Airlines Co., Ltd.
3. Discussion and analysis by the Management Team
In 2013, the Company calmly coped with the complex and severe situation of safety and benefits, scientifically deliberated the
decisions, optimized and enhanced the management, united and worked hard, and overcome the challenges so that the safety,
operation, benefits and services have maintained a good momentum, achieved a steady and rapid development, and obtained the
hard-won business performance.
(1) Continue to strengthen the safety management, and safety production situation is basically stable
In 2013, the Companies guaranteed the safety flight of 257,600 hours and138,000 sorties, respectively increased by 12.79% and
12.41% year on year, and no transport and aviation accident proneness caused by the company occurred; further clarified the safety
leadership responsibilities, detailed the safety regulatory responsibility, implemented the security posts responsibility, and continued
to strengthen the security infrastructure; fully launched the safety production checking and soundly developed the key special
renovation in accordance with the principle of "full coverage, zero tolerance, strict law enforcement, and pragmatics" and guiding by
"five asks" and "three checks".
(2)Optimize and adjust the transport control system, the production runs properly
In 2013, the Company’s average flight punctuality rate was 78.17%, ranked third in the civil aviation; established the new operation
and control center, the construction of the transport and control management system has achieved initial success; established and
improved the policy standards relevant to the normal flight management, the normal flight management advanced steadily;
successfully completed the air transport guarantee mission in "two sessions", "ten Arts Festival", national defense, and Ya’an disaster
relief.
(3) Actively and appropriately organize the production, and maintain a preferable income level
In 2013, the company completed the total transport turnover volume of 1,757,467,100 tons km, the passenger transport volume of
14,035,800 person-time, total mail volume 130,800 tons, respectively increased by 10.42%, 12.08%, and 5.72% year on year; achieved
operating income of 11,427,157,933.15 Yuan, increase by 3.95% year on year, net profit of 389,081,811.72 Yuan, decreased by
34.03% year on year; the passenger load factor was 77.76%, decreased by 1.31% year on year, and the cargo and mail load factor was
46.69%, decreased by 1.78% year on year; the Company continued to optimize the flight schedules and the airline network, gradually
increased the flight numbers among the three bases so that the synergistic effect has gradually revealed; made progress in product
innovation and channel development, and achieved remarkable results in increasing revenue and reducing expenditure.
(4) Continuously improve the service process, and the service quality has been improved
In 2013, the company's service process and standard optimization have been strongly boosted, the improvement for the service short
slab made progress; overall passenger satisfaction survey score reached 89.72, increased by 0.34 scores year on year, which was 1.72
scores more than the target at the beginning of the year; the valid customer complaint rate was 0.486 per ten thousand person-time,
which completed the target the company made at the beginning of the year; the brand value increased to 15.286 billion Yuan, ranked
121 in the ranking of China's 500 most valuable brands, and ranked 15 ahead compared to the last year.
4. Relevant items involving financial report
(1)Comparing with last year’s financial report, explain changes in aspect of accounting policy, accounting
estimates and calculation measures
The “Proposal of Inventory Accounting Methods Changed” (found more in Notice No.: 2013-47) was deliberated and approved by
4th extraordinary meeting of 5th session of the Board dated 10 July 2013.
To achieve the integrated management of mechanical and financial and further enhance the Company's core competitiveness, the
Company has started using SAP software since July 1st, 2013. In order to keep the same as the software, the inventory valuation
method is changed from the "FIFO" to "moving weighted average method."
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Shandong Airlines Co., Ltd. Summary of Annual Report 2013
The business scope involved in the change of accounting policies is the company's inventory and costing businesses, which can
reflect the company’s financial situation and operating results more objectively and fairly and provide more reliable and accurate
accounting information, the accounting policy changes will not make substantial impacts on the owners’ equity and net profits of the
company.
(2)Particular about major accounting errors correction that needs retroactive re-statement in reporting
period
No major accounting errors correction that needs retroactive re-statement in reporting period.
(3)Compare with last year’s financial report; explain changes in consolidation statement’s scope
Scope of consolidation statement in this year is the same as last year’s
(4)Explanation from the Board and Supervisory Committee for “Qualified Opinion” from the CPA
In reporting period, the Ruihua Certified Public Accountants (LLP) issued a standard unqualified auditors’ report for the Company.
Board of Directors of
Shandong Airlines Co., Ltd.
March 20, 2014
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