Shandong Airlines Co., Ltd. Summary of Annual Report 2014
Shandong Airlines Co., Ltd.
Summary of Annual Report 2014
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
2013 over last 2012
2014 year
Before the After the After the Before the After the
adjustment adjustment adjustment adjustment adjustment
11,570,296,75 11,427,157,9 11,427,157,9 10,993,024,9 10,993,024,9
Operating income (RMB) 1.25%
7.48 33.15 33.15 14.41 14.41
Net profit attributable to
287,851,542.0 389,081,811. 390,121,811. 589,810,932. 589,810,932.
shareholders of the listed -26.21%
9 72 72 47 47
company(RMB)
Net profit attributable to
shareholders of the listed
146,403,043.4 137,850,318. 138,890,318. 490,146,637. 490,146,637.
company after deducting 5.41%
3 37 37 15 15
non-recurring gains and
losses(RMB)
Net cash flow arising from 1,459,828,215 1,411,186,52 1,411,186,52 1,726,317,50 1,726,317,50
3.45%
operating activities(RMB) .31 2.15 2.15 0.75 0.75
Basic earnings per share
0.72 0.97 0.98 -26.53% 1.47 1.47
(RMB/Share)
Diluted earnings per share
0.72 0.97 0.98 -26.53% 1.47 1.47
(RMB/Share)
5.09
Weighted average ROE 10.33% 15.08% 15.42% percentage 26.36% 26.36%
points down
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Shandong Airlines Co., Ltd. Summary of Annual Report 2014
Changes
End of 2013 over end of End of 2012
End of 2014 last year
Before the After the After the Before the After the
adjustment adjustment adjustment adjustment adjustment
12,118,867,62 11,403,124,4 11,474,898,6 11,261,341,4 11,298,444,1
Total assets (RMB) 5.61%
0.51 28.82 69.33 30.03 16.84
Net assets attributable to
2,878,120,380 2,708,137,66 2,692,517,34 2,479,055,85 2,429,050,86
shareholder of listed 6.89%
.35 4.00 4.38 2.28 7.39
company (RMB)
(2) Statement of shares held by top 10 common shareholders
Total common shareholders at
Total common shareholders in
15,879 end of the 5th trading day before 15,924
reporting period-end
annual report disclosed
Particular about shares held by top ten common shareholders
Shares pledge or
Proportion Amount of
Amount of frozen
Shareholders Nature of shares restricted
shares held
held shares held State of Amou
share nt
State-owned
Shandong Aviation Group 42.00% 168,004,000 168,004,000
legal person
State-owned
Air China Limited 22.80% 91,200,000 91,200,000
legal person
Domestic
Yao Ming 0.62% 2,486,308 0
nature person
WANXIANG INTERNATIONAL Foreign legal
0.56% 2,250,983 0
INVESTMENT CORPORATION person
Foreign legal
BOCI SECURITIES LIMITED 0.38% 1,530,744 0
person
Domestic
Chen Jingjian 0.37% 1,481,800 0
nature person
GUOTAI JUNAN
Foreign legal
SECURITIES(HONGKONG) 0.35% 1,410,678 0
person
LIMITED
Domestic
Xie Qingjun 0.28% 1,103,379 0
nature person
Foreign legal
NAV CANADA PENSION PLAN 0.26% 1,052,295 0
person
CREDIT SUISSE (HONG KONG) Foreign legal
0.25% 999,962 0
LIMITED person
1. Shandong Aviation Group(SDA) is the first largest shareholder of the
Company, who holds the shares of the Company on behalf of the State
with unlisted shares;
2. Air China Limited is the second largest shareholder of the Company,
who holds the shares of the Company on behalf of the State with unlisted
Explanation on related relationship or concerted shares;
action among the abovementioned shareholders 3. Among the above top ten shareholders, Air China Limited 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.
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Shandong Airlines Co., Ltd. Summary of Annual Report 2014
(3)Shares held by top ten shareholders with preferred stock held
The Company had no shareholders with preferred stock held in the reporting.
(4) Property right and controlling relationships between the actual controllers of the Company and the
Company is as follows
Shandong Aviation Group
42%
Shandong Airlines Co., Ltd.
3. Discussion and analysis by the Management Team
Against the severe and complicated safety benefit situation since 2014, the Company adherence to stable operation, line with
“innovative controlling, quality and efficiency achieved”; aggressively implemented structural adjustment of strategy resources; as a
whole, the safety, operation, benefit and services achieved intended target; the Company maintains stable operation trends and gains
a better operation results.
(1) Thorough going efforts to promote innovation upgrade of safety controlling system, maintains stable safety trends
In 2014, the Company’s transportation core business guaranteed a safety flight of 275,200 hours and 145,200 sorties, respectively
increased by 6.83% and 5.23% year on year, and no safety incidents as transport and aviation accident proneness or above caused by
the Company and sub-contractor occurred. The security quality evaluation index is10.74 with a stabile safety position owned. By end
of 2014, the Company achieved a safety flight of 2,090,000 hours, won the civil aviation “Flight Safety-Two Star Award” and
smoothly realized the 20 anniversary of safety flight. Continued to strengthen safety responsibility, breaking in safety supervision
system, made the safety foundation firm and achieved fruitful specific governance in key link
(2) Optimize flight normal controlling mechanism, flight operating efficiency enhance continuously
The Company’s average flight punctuality rate was 80.92% at all year round, a 2.64 percentage points up y-o-y; guarantee 62 flights
of important mission and expert III (included) or above; the prosponed flight over 4 hours takes 0.83% in total flights, a 0.74
percentage points declined y-o-y; the rates of flight alternating and returning was 2.90%, a 1.18 permillage points down y-o-y.
Vigorously focus on source management and process management, on time performance is rising steadily.
(3) Improve production organization efficiency, benefit standards largely in line with the expectation
In 2014, the Company completed total transport turnover volume of 1,940 million tons km, the passenger transport volume of
15,320,000 person-time, mail volume was 141,400 tons(including wet lease services), respectively increased by 10.38%, 9.14% and
8.03% year on year; achieved operating income of 11.57 billion Yuan, net profit of 398 million Yuan; affected by a slowdown in
demand and faster growth of transport capacity, the passenger load factor turns to 77.21% with 0.55 percentage points down on a
y-o-y basis, and the cargo and mail load factor turns to 42.67%, a 4.02 percentage points down year on year. Continued to improve
acquire ability for resources and its use efficiency, the competitive advantage in market has been consolidated. Promoted innovation
of marketing mode with great efforts and the e-Commerce stay ahead of the curve.
(4) Promote five-star obtained plans, service quality enhance continuously
The overall passenger satisfaction survey score reached 91.69, increased 2.16 scores year on year, media authority is fifth-rated on
average; the valid customer complaint rate was 0.2028 per ten thousand person-times, lower than the index carried out at beginning
of the year. Won the title of “China 500 Most Valuable Brands” for the seventh consecutive year, brand value achieving 18,272
million Yuan with 298,600 million Yuan added over last year in value, raised 9 places to 112th.
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 fourth extraordinary meeting 2014 of the 5th session of the Board was held on 23 October 2014, deliberated and passed the
“proposal of accounting policy change”. A serial accounting rules were promulgated successively or revised in 2014 by Ministry of
Finance, and part of the rules are come into effect dated 1 July 2014. Relevant accounting policies have been changed by the
Company in line with requirements. Found more details in “Section III. Important Event” carried in 3Q Report of 2014 published on
China Securities Journal, Securities Times, Hong Kong Commercial Daily and Juchao Website (http://www.cninfo.com.cn).
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Shandong Airlines Co., Ltd. Summary of Annual Report 2014
(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
No changes in scope of consolidation statement in this Period
(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.
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