UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________

 

FORM 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of April 2015

 

Commission File Number: 001-14550

 

China Eastern Airlines Corporation Limited

———————————————————————————————————

(Translation of Registrant’s name into English)

 

Board Secretariat’s Office

Kong Gang San Lu, Number 88

Shanghai, China 200335

———————————————————————————————————

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:  x Form 20-F    ¨ Form 40-F

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

 

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    x No

 

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):    n/a 

 

 
 

 

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 Eastern Airlines Corporation Limited
                                       (Registrant)
         
Date   April 29, 2015   By    /s/ Wang Jian
        Name: Wang Jian
        Title: Joint Company Secretary

 

 
 

 

Certain statements contained in this announcement may be regarded as "forward-looking statements" within the meaning of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Company's views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements, unless required by applicable laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this announcement.

 

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 2015

 

This announcement is made by the Company pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09(2)(a) and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

 

The financial statements of the Company for the first quarter of 2015 were not audited, and were prepared in accordance with the PRC Accounting Standards.

  

1.IMPORTANT NOTICE

 

This announcement is made by China Eastern Airlines Corporation Limited (the “Company”) pursuant to the disclosure requirement under Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (which requires any issuer listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) whose securities are also listed on other stock exchange(s) to simultaneously inform the Stock Exchange of any information released to any of such other exchange(s) and to ensure that such information is released to the market in Hong Kong at the same time as it is released to the other market(s)). At the request of the Shanghai Stock Exchange, a similar announcement of the even date is being made by the Company in Shanghai pursuant to the relevant provisions of the Shanghai listing rules and regulations.

 

This quarterly report was prepared in accordance with the regulations as prescribed by the China Securities Regulatory Commission (the “CSRC”) in relation to disclosure of information in quarterly reports for listed companies, and is published simultaneously in Shanghai and Hong Kong. The financial statements of the Company for the first quarter of 2015 were not audited, and were prepared in accordance with the PRC Accounting Standards.

 

The board of directors (the “Board”) and the supervisory committee of the Company, and its directors, supervisors and senior management hereby confirm that the information set out in this quarterly report does not contain false information, misleading statement or material omission, and accept joint and several responsibility for the correctness, accuracy and completeness of the information set out in this quarterly report.

 

– 1 –
 

 

All directors of the Company attended the meeting of the Board.  
   
Name of the person-in-charge of the Company Liu Shaoyong
Name of the officer-in-charge of accounting Ma Xulun
Name of the officer-in-charge of the accounting department (accounting officer) Wu Yongliang

 

Liu Shaoyong, the person-in-charge of the Company, Ma Xulun, the officer-in-charge of accounting of the Company, and Wu Yongliang, the officer-in-charge of the accounting department (accounting officer) of the Company hereby confirm that the financial statements forming part of this quarterly report are true, accurate and complete.

 

The financial statements in the first quarterly report of the Company are unaudited.

 

2.MAIN FINANCIAL DATA AND CHANGES IN SHAREHOLDERS OF THE COMPANY

 

2.1Main financial data

 

Unit: million  Currency: RMB

 

               Increase/ 
               decrease as 
               at the end of 
               the reporting 
   As at           period 
   the end of   As at the end of   compared 
   the reporting   last year   with the end 
   period   Adjusted   Unadjusted   of last year 
               (%) 
Total assets   169,531    163,542    163,542    3.66 
Net assets attributable to the shareholders of listed company   29,198    27,696    27,696    5.42 

 

   From the           Increase/ 
   beginning of   From the beginning of   decrease 
   the year to   last year to the end of   compared 
   the end of   the reporting   with the 
   the reporting   period last year   same period 
   period   Adjusted   Unadjusted   last year 
               (%) 
Net cash flows from operating activities   2,556    1,524    1,535    67.72 

 

– 2 –
 

 

   From the           Increase/ 
   beginning of   From the beginning of   decrease 
   the year to   last year to the end of   compared 
   the end of   the reporting   with the 
   the reporting   period last year   same period 
   period   Adjusted   Unadjusted   last year 
               (%) 
Revenue   22,393    21,824    21,798    2.61 
Net profit attributable to shareholders of listed company   1,564    –205    –205    862.93 
Net profit attributable to shareholders of listed company after deducting non-recurring profit and loss   1,477    –247    –247    697.98 
                   Increase by 6.33 percentage 
Weighted average return on net assets (%)   5.49    –0.837    –0.837    points 
Basic earnings per share (RMB per share)   0.1234    –0.0162    –0.0162    861.73 
Diluted earnings per share (RMB per share)   0.1234    –0.0162    –0.0162    861.73 

 

Non-recurring profit and loss and relevant amounts

 

Unit: million Currency: RMB

 

   Amount for 
Item  the period 
     
Gains or losses from disposal of non-current assets   –1 
Non-operating incomes and expenses other than the above   122 
Effect on minority interests (net of tax)   –6 
Effect on income tax   –28 
      
Total   87 

 

– 3 –
 

 

2.2The total number of the Company’s shareholders and the shareholding of the 10 largest shareholders and the shareholding of the 10 largest holders of listed shares (or holders of shares without trading moratorium) as at the end of the reporting period

Unit: Shares

 

Total number of shareholders 209,963

       Shareholding of the 10 largest shareholders      
           Number of            
   Shareholdings       shares with            
   as at       trading   Pledged or locked-up     
Name of shareholder  the end of       moratorium   Status of  Number of    Nature of
(in full)  the period   Proportion   held   shares  shares    shareholders
       (%)                
                        
China Eastern Air Holding Company (中國東方航空集團公司)   5,072,922,927    40.03    241,547,927   Nil  0    State-owned legal person
HKSCC NOMINEES LIMITED   4,180,087,198    32.98    698,865,000   Unknown  Unknown    Overseas legal person
CES Finance Holding Co., Ltd (東航金控有限責任公司）   457,317,073    3.61    457,317,073   Nil  0    State-owned legal person
China National Aviation Fuel Holding Company (中國航空油料集團公司)   377,782,932    2.98    0   Unknown  Unknown    State-owned legal person
Shanghai Alliance Investment Limited (上海聯和投資有限公司)   212,365,429    1.68    0   Unknown  Unknown    State-owned legal person
Jin Jiang International Holdings Company Limited (錦江國際 （集團）有限公司)   130,000,000    1.03    0   Unknown  Unknown    State-owned legal person
Sinotrans Air Transportation Development Co., Ltd. (中外運空運發展股份有限公司)   83,157,894    0.66    0   Unknown  Unknown    State-owned legal person
China Life Insurance (Group) Company – Traditional – Ordinary Insurance products （中國人壽保險（集團）公司 －傳統－普通保險產品）   59,731,876    0.47    0   Unknown  Unknown    State-owned legal person
National Social Securities Fund 115 Group（全國社保基金 一一五組合）   34,999,905    0.28    0   Unknown  Unknown    Unknown
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）   30,000,000    0.24    0   Unknown  Unknown    Unknown

 

– 4 –
 

 

Shareholding of the 10 largest holders of shares without trading moratorium

 

   Number of listed        
   shares without trading        
Name of shareholder  moratorium held   Class and number of shares
       Class  Number 
            
China Eastern Air Holding Company (中國東方航空集團公司)   4,831,375,000   RMB ordinary shares   4,831,375,000 
HKSCC NOMINEES LIMITED   3,481,222,198   Overseas listed foreign shares   3,481,222,198 
China National Aviation Fuel Holding Company (中國航空油料集團公司)   377,782,932   RMB ordinary shares   377,782,932 
Shanghai Alliance Investment Limited (上海聯和投資有限公司)   212,365,429   RMB ordinary shares   212,365,429 
Jin Jiang International Holdings Company Limited (錦江國際（集團）有限公司)   130,000,000   RMB ordinary shares   130,000,000 
Sinotrans Air Transportation Development Co., Ltd. (中外運空運發展股份有限公司)   83,157,894   RMB ordinary shares   83,157,894 
China Life Insurance (Group) Company – Traditional – Ordinary Insurance Products （中國人壽保險（集團）公司－傳統－普通保險產品）   59,731,876   RMB ordinary shares   59,731,876 
National Social Securities Fund 115 Group （全國社保基金一一五組合）   34,999,905   RMB ordinary shares   34,999,905 
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）   30,000,000   RMB ordinary shares   30,000,000 
National Social Securities Fund 112 Group （全國社保基金一一二組合）   26,995,781   RMB ordinary shares   26,995,781 

 

Description of connected relationship or activities in concert among the above shareholders Among the 4,180,087,198 shares held by HKSCC NOMINEES LIMITED, 2,626,240,000 shares are held by CES Global Holdings (Hong Kong) Limited (“CES Global”) in the capacity of beneficial owner; China Eastern Air Holding Company (“CEA Holding”) owns 100% equity interest in CES Finance Holding Co., Ltd (“CES Finance”); and CES Finance owns 100% equity interest in CES Global; thus, CEA Holding indirectly owns 100% equity interests in CES Global. The Company is not aware of any other connected relationship or activities in concert among the 10 largest holders of shares without trading moratorium.  
     
Description of preference shareholders with voting rights restored and the number of shares held Not applicable  

 

2.3The total number of the Company’s preference shareholders and the shareholding of the 10 largest preference shareholders and the shareholding of the 10 largest preference holders of shares without trading moratorium as at the end of the reporting period

 

Not applicable

 

– 5 –
 

 

3.IMPORTANT MATTERS

 

3.1Details of and reasons for the substantial changes in main items of financial statements and financial indicators of the Company

 

Item   Change   Reasons for the change
    (%)    
         
Revenue   2.61   The growth of revenue is lower than the growth of productivity. It is primarily due to the decrease of revenue from fuel surcharge which is due to the decrease of fuel prices. During the period, revenue from fuel surcharge recorded a decrease of RMB1.037 billion compared to the corresponding period last year. The growth of revenue during the period would be generally in line with the growth of productivity when excluding fuel surcharge.
Investment income   200   Primarily due to the increase in profits from associated companies of the Company
Income tax   436.07   Primarily due to the increase in taxable profit resulted from the increase of the Company’s profit
Net profit attributable to shareholders of the parent company   862.93   Primarily due to the decrease in expenses resulted from the continuous improvement of the Company’s operating abilities and the decrease of jet fuel prices
Other current assets   37.45   Primarily due to the difference of input tax over output tax of the Company
Long-term equity investment   28.85   Primarily due to the increase in investments in associated companies by the Company
Short-term borrowings   –26.88   Primarily due to the adoption of other financing methods in order to reduce short-term borrowings of the Company
Other current liabilities   50.38   Primarily due to the issuance of super short- term commercial paper by the Company
Long-term borrowings   20.29   Primarily due to the increase in long-term borrowings of the Company

 

3.2Analysis of the progress of significant events and their effects and proposed solutions

 

The “Plan for the non-public issuance of A Shares by China Eastern Airlines Corporation Limited《關 於 中 國 東 方 航 空 股 份 有 限 公 司 非 公 開 發 行A 股 股 票 預 案 的 議 案》” and related resolutions were considered and approved at the 11th meeting of the 7th session of the Board on 23 April 2015. The resolution shall be submitted to the ordinary general meeting for consideration. For details, please refer to the announcements of the Company published on the websites of Shanghai Stock Exchange (www.sse.com.cn) and Hong Kong Stock Exchange (www.hkex. com.hk) during the evening of 23 April 2015 and the announcements published on China Securities Journal and Shanghai Securities News on 24 April 2015.

 

– 6 –
 

 

3.3The status of implementation of the matters undertaken by the Company and shareholders holding more than 5% interests

 

                        Whether the
                        undertaking has
                    Whether there is   been strictly
Background of   Type of   Undertaking       Time and term of   an implementation    implemented in a
undertaking   undertaking   party   Content of undertaking   undertaking   period   timely manner
                         
Undertaking in relation to refinancing   Trading moratorium of shares   CEA Holding/CES Finance   Pursuant to the “Report on non-public issuance of A shares” published by the Company on 17 April 2013, the Company issued 241,547,927 A shares of the Company and 457,317,073 A shares of the Company to CEA Holding and CES Finance respectively, on a non-public basis in April 2013. CEA Holding and CES Finance undertook that: they shall not transfer the A shares of the Company purchased under the aforesaid issuance within 36 months from the date of completion of the issuance of A shares.   Time of undertaking: April 2013; term of undertaking: from 16 April 2013 to 16 April 2016   Yes   Yes
                         
    Trading moratorium of shares   CES Global   The Company issued 698,865,000 additional H shares to CES Global in June 2013. According to the resolution passed at the 18th ordinary meeting of the sixth session of the Board held on 11 September 2012 and the resolution passed at the 2012 first extraordinary general meeting of the Company held on 9 November 2012, CES Global undertook that: it shall not transfer the H shares of the Company purchased under the aforesaid issuance within 36 months from the date of completion of the issuance of H shares.   Time of undertaking: November 2012; term of undertaking: from 21 June 2013 to 21 June 2016   Yes   Yes
                         
    To resolve defects in land and other property ownership   CEA Holding   Due to historical reasons, some of the land and property injected by CEA Holding into the Company had not yet been transferred to the name of the Company. With regard to 17 properties which are located in Guangzhou and Shenzhen (with an aggregate GFA of approximately 1,996.51 square meters), CEA Holding undertook that it shall, resolve defects in building ownership by completing procedures for transferring property ownership to the Company, or transferring the relevant gains to the Company upon external disposal within 3 years; and CEA Holding shall bear the corresponding obligations in relation to the losses caused to the Company as a result of the failure of CEA Holding in completing the relevant procedures for transferring the relevant property ownership in a timely manner.   Time of undertaking: June 2014; term of undertaking: from 27 June 2014 to 30 June 2017   Yes   Yes

 

– 7 –
 

 

                        Whether the
                        undertaking has
                    Whether there is   been strictly
Background of   Type of   Undertaking       Time and term of   an implementation   implemented in a
undertaking   undertaking   party   Content of undertaking   undertaking   period   timely manner
                         
    To resolve defects in land and other property ownership   CEA Holding   Due to historical reasons, some of the land and property injected by CEA Holding into the Company had not yet been transferred to the name of the Company. With regard to 76 properties which are located in the Eastern District of Shanghai Hongqiao Airport (the relevant land ownership of which has been transferred to the Company) (with an aggregate GFA of approximately 146,700 square meters), relevant construction procedures were not completed for the buildings due to historical reasons, and therefore it is currently difficult to carry out ownership transfer. As a result, CEA Holding undertook that it shall, strive for opportunity to develop in the Eastern District of Shanghai Hongqiao Airport, and resolve defects in relevant building ownership by completing relevant procedures for transferring building ownership to the Company in batches upon fulfillment of conditions or through land replacement, the expected final completion time of which is approximately 10 to 12 years. The progress of resolving the above defects in property ownership and its results are subject to the overall development policy of the Eastern District of Shanghai Hongqiao Airport and its progress of implementation. CEA Holding shall bear the corresponding obligations in relation to the losses caused to the Company as a result of the failure of CEA Holding in completing the relevant procedures for transferring the relevant property ownership in a timely manner.   Time of undertaking: June 2014; term of undertaking: from 27 June 2014 to 30 June 2026   Yes   Yes

 

3.4Warning of and reasons for any expected accumulated losses from the beginning of the year to the end of the following reporting period or substantial changes in profitability compared to the same period last year

 

Not applicable

 

  By order of the Board
  CHINA EASTERN AIRLINES CORPORATION LIMITED
  Liu Shaoyong
  Chairman
   
  Shanghai, the People’s Republic of China
  29 April 2015

 

As at the date of this announcement, the Directors include Liu Shaoyong (Chairman), Ma Xulun (Vice Chairman, President), Xu Zhao (Director), Gu Jiadan (Director), Li Yangmin (Director, Vice President), Tang Bing (Director, Vice President), Sandy Ke-Yaw Liu (Independent non-executive Director), Ji Weidong (Independent non-executive Director), Li Ruoshan (Independent non-executive Director) and Ma Weihua (Independent non-executive Director).

 

– 8 –
 

 

4.APPENDICES

 

4.1Financial Statements

 

China Eastern Airlines Corporation Limited

Consolidated Balance Sheet as at 31 March 2015

(Unless otherwise stated, amounts expressed in RMB millions)

 

           31 March   31 December 
   31 March   31 December   2015   2014 
   2015   2014   Parent   Parent 
Assets  Consolidated   Consolidated   company   company 
                 
Current assets                    
Monetary capital   1,611    1,393    1,292    892 
Hedge instruments   5    5    5    5 
Notes receivable   –    –    –    – 
Trade receivables   3,706    3,862    3,075    2,920 
Prepayments   1,012    978    213    266 
Interest receivable   –    –           
Dividends receivable   33    33    33    33 
Other receivables   2,948    3,165    10,428    11,105 
Inventory   2,264    2,259    74    72 
Non-current assets held for sale   4,330    4,330    2,866    2,866 
Non-current assets due within one year   106    98    68    68 
Other non-current assets   2,914    2,120    2,337    1,722 
                     
Total current assets   18,929    18,243    20,391    19,949 
                     
Non-current assets                    
Hedge instruments   30    30    30    30 
Financial assets available for sale   443    433    399    388 
Long-term equity investment   2,050    1,591    16,309    15,848 
Fixed assets   111,167    107,278    71,607    68,632 
Construction in progress   22,928    22,376    21,643    20,258 
Intangible assets   2,492    2,436    1,532    1,469 
Goodwill   9,028    9,028    9,028    9,028 
Long-term deferred expenses   1,797    1,344    993    996 
Deferred income tax assets   165    170    –    – 
Other non-current assets   502    613    769    813 
                     
Total non-current assets   150,602    145,299    122,310    117,462 
                     
Total assets   169,531    163,542    142,701    137,411 

 

– 9 –
 

  

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated Balance Sheet as at 31 March 2015 (Cont’d)

(Unless otherwise stated, amounts expressed in RMB millions)

 

           31 March   31 December 
   31 March   31 December   2015   2014 
Liabilities and shareholders’  2015   2014   Parent   Parent 
equity  Consolidated   Consolidated   company   company 
                 
Current liabilities                    
Short-term borrowings   10,222    13,979    11,657    15,470 
Hedge instruments   –    –    –    – 
Notes payable   –    –    –    – 
Trade payables   11,295    11,147    12,721    11,493 
Account collected in advance   1,011    841    597    421 
Settlement of vouchers   3,809    5,064    3,643    4,920 
Staff remuneration payable   2,915    3,141    1,707    1,841 
Tax payable   2,239    1,846    1,007    817 
Interest payable   421    738    268    580 
Other payables   3,589    3,016    7,756    6,547 
Non-current liabilities due within one year   18,502    17,355    14,698    13,892 
Other current liabilities   6,015    4,000    6,000    4,000 
                     
Total current liabilities   60,018    61,127    60,054    59,981 
                     
Non-current liabilities                    
Long-term borrowings   24,332    20,228    19,660    15,229 
Hedge instruments   168    95    168    95 
Bonds payable   10,287    10,285    4,792    4,791 
Long-term payables   39,075    37,717    25,890    25,655 
Long-term staff remuneration payable   2,822    2,822    2,293    2,293 
Special items payable   116    116    95    95 
Deferred income tax liabilities   26    26    –    – 
Other non-current liabilities   1,492    1,639    900    916 
                     
Total non-current liabilities   78,318    72,928    53,798    49,074 
                     
Total liabilities   138,336    134,055    113,852    109,055 

 

– 10 –
 

  

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated Balance Sheet as at 31 March 2015 (Cont’d)

(Unless otherwise stated, amounts expressed in RMB millions)

 

           31 March   31 December 
   31 March   31 December   2015   2014 
Liabilities and shareholders’  2015   2014   Parent   Parent 
equity  Consolidated   Consolidated   company   company 
                 
Shareholders’ equity                    
Share capital   12,674    12,674    12,674    12,674 
Capital reserves   17,410    17,410    17,868    17,868 
Other comprehensive income   (2,915)   (2,853)   (2,269)   (2,207)
Undistributed profits/ (accumulated loss)   2,029    465    576    21 
Total equity attributable to equity holders of parent company   29,198    27,696    28,849    28,356 
                     
Minority interests   1,997    1,791    –    – 
                     
Total shareholders’ equity   31,195    29,487    28,849    28,356 
                     
Total liabilities and shareholders’ equity   169,531    163,542    142,701    137,411 

 

Financial statements signed by persons below:

Person-in-charge of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

 

– 11 –
 

 

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated and Company’s Income Statement for the period from January to March 2015

(Unless otherwise stated, amounts expressed in RMB millions)

 

      Jan to Mar   Jan to Mar   Jan to Mar   Jan to Mar 
      2015   2014   2015   2014 
      Consolidated   Consolidated   Company   Company 
          (Restated)         
                    
1.  Revenue   22,393    21,824    11,884    11,687 
   Less:   Operating costs   (18,396)   (19,981)   (9,769)   (10,742)
   Business taxes and surcharges   (22)   (26)   (4)   (6)
   Selling expenses   (1,362)   (1,415)   (922)   (798)
   Administrative expenses   (637)   (611)   (353)   (333)
   Finance expenses/(income), net   (798)   (956)   (561)   (669)
   Assets impairment loss   1    –    –    – 
   Add:   Gains arising from changes in fair value   1    6    1    6 
   Investment gains   36    12    44    30 
                        
2.  Operating profit   1,216    (1,147)   320    (825)
   Add: Non-operating income   876    968    354    607 
   Less: Non-operating expenses   (2)   (3)   (1)   (2)
                        
3.  Total profits   2,090    (182)   673    (220)
   Less: Income tax expenses   (327)   (61)   (118)   – 
                        
4.  Net profit   1,763    (243)   555    (220)
                        
   – Net profit attributable to shareholders of the parent company   1,564    (205)          
                        
   – Minority interests   199    (38)          
                        
5.  Earnings per share                    
   Basic earnings per share (RMB)   0.1234    (0.0162)          
                        
   Diluted earnings per share (RMB)   0.1234    (0.0162)          

 

– 12 –
 

 

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated and Company’s Income Statement for the period from January to March 2015 (Cont’d)

(Unless otherwise stated, amounts expressed in RMB millions)

 

      Jan to Mar   Jan to Mar   Jan to Mar   Jan to Mar 
      2015   2014   2015   2014 
      Consolidated   Consolidated   Company   Company 
          (Restated)         
                    
6.  Other comprehensive income, net of tax                    
   Gain or loss from fair value movements of available-for-sale financial assets   12    (16)   12    (16)
   Effective portion of gains or losses from cash flow hedge instruments   (74)   (14)   (74)   (14)
                        
   Other comprehensive income, net of tax   (62)   (30)   (62)   (30)
                        
7.  Total comprehensive income   1,701    (273)   493    (250)
                        
   Of which:                    
   Total comprehensive income attributable to shareholders of the parent company   1,502    (235)          
                        
   Total comprehensive income attributable to minority interests   199    (38)          

 

Financial statements signed by persons below:

Person-in-charge of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

 

– 13 –
 

 

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated and Company’s Cash Flow Statement for the period from January to March 2015

(Unless otherwise stated, amounts expressed in RMB millions)

 

      Jan to Mar   Jan to Mar   Jan to Mar   Jan to Mar 
      2015   2014   2015   2014 
      Consolidated   Consolidated   Company   Company 
          (Restated)         
                    
1.  Cash flow from operating activities                
   Cash received from sales of goods and provision of labour services   20,800    22,036    11,825    13,694 
   Other cash received from operating activities   2,087    1,378    1,820    1,236 
                        
   Sub-total of cash inflow from operating activities   22,887    23,414    13,645    14,930 
                        
   Cash paid for purchase of goods and receiving of labour services   (14,115)   (15,739)   (8,431)   (8,305)
   Cash paid to and for employees   (3,129)   (3,522)   (1,575)   (2,349)
   Taxes paid   (359)   (575)   (219)   (474)
   Other cash paid for operating activities   (2,728)   (2,054)   (1,912)   (1,212)
                        
   Sub-total of cash outflow from operating activities   (20,331)   (21,890)   (12,137)   (12,340)
                        
   Net cash flows from operating activities   2,556    1,524    1,508    2,590 

 

 

– 14 –
 

 

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated and Company’s Cash Flow Statement for the period from January to March 2015 (Cont’d)

(Unless otherwise stated, amounts expressed in RMB millions)

 

      Jan to Mar   Jan to Mar   Jan to Mar   Jan to Mar 
      2015   2014   2015   2014 
      Consolidated   Consolidated   Company   Company 
          (Restated)         
                    
2.  Cash flow from investing activities               
   Cash received from disposal of investment   –    –    –    – 
   Investment income in cash   –    14    –    46 
   Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets   112    5    80    4 
   Other cash received from investing activities   15    58    15    30 
                        
   Sub-total of cash inflow from investing activities   127    77    95    80 
                        
   Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets   (4,922)   (4,340)   (4,409)   (3,804)
   Investments paid in cash   (413)   –    (413)   (85)
   Other cash paid for investing activities   –    –    –    – 
                        
   Sub-total of cash outflow from investing activities   (5,335)   (4,340)   (4,822)   (3,889)
                        
   Net cash flow from investing activities   (5,208)   (4,263)   (4,727)   (3,809)

 

– 15 –
 

  

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated and Company’s Cash Flow Statement for the period from January to March 2015 (Cont’d)

(Unless otherwise stated, amounts expressed in RMB millions)

 

      Jan to Mar   Jan to Mar   Jan to Mar   Jan to Mar 
      2015   2014   2015   2014 
      Consolidated   Consolidated   Company   Company 
          (Restated)         
                    
3.  Cash flow from fund raising activities               
   Proceeds received in cash from investments   –    –    –    – 
   Cash received from borrowings   16,405    11,673    15,384    11,173 
   Proceeds received in cash from bonds issuance   –    2,500    –    – 
   Other cash received relating to fund raising activities   –    –    –    – 
                        
   Sub-total of cash inflow from fund raising activities   16,405    14,173    15,384    11,173 
                        
   Cash paid for repayment of indebtedness   (11,415)   (9,663)   (10,466)   (9,097)
   Cash payments for distribution of dividends, profits or payments of interest expense   (615)   (588)   (527)   (449)
   Other cash paid for fund raising activities   (1,495)   (962)   (776)   (744)
                        
   Sub-total of cash outflow from fund raising activities   (13,525)   (11,213)   (11,769)   (10,290)
                        
   Net cash flow from fund raising activities   2,880    2,960    3,615    883 

 

– 16 –
 

  

4.1Financial Statements (Cont’d)

 

China Eastern Airlines Corporation Limited

Consolidated and Company’s Cash Flow Statement for the period from January to March 2015 (Cont’d)

(Unless otherwise stated, amounts expressed in RMB millions)

 

      Jan to Mar   Jan to Mar   Jan to Mar   Jan to Mar 
      2015   2014   2015   2014 
      Consolidated   Consolidated   Company   Company 
          (Restated)         
                    
4.  Effect of changes in exchange rate on cash and cash equivalents   (13)   (22)   (11)   (21)
                        
5.  Net decrease in cash and cash equivalents   215    199    385    (357)
   Add: Balance of cash and cash equivalents at the beginning of the year   1,355    2,040    866    1,029 
                        
6.  Balance of cash and cash equivalents at the end of the year   1,570    2,239    1,251    672 

 

Person-in-charge of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

 

– 17 –