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 2014

 

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 30, 2014		By	/s/ Wang Jian
				Name: Wang Jian
				Title: Joint Company Secretary

  

 

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.

 

 

(A joint stock limited company incorporated in the People’s Republic of China with limited liability)

 (Stock code: 00670)

 

FIRST QUARTERLY REPORT 2014

 

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 2014 were not audited, and were prepared in accordance with the PRC Accounting Regulations.

 

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.

 

 

	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	Wu Yongliang
	(accounting officer)

 

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

 

2.1

Main financial data

 

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 (RMB million)

143,521

137,776

137,776

4.17

Net assets per share attributable to

the shareholders of listed company

(RMB million)

24,398

24,617

24,617

-0.89

 

From the

Increase/

beginning

From the beginning of

decrease

of the year

last year to the end of

compared

to the end of

the reporting period

with the same

the reporting

last year

period

period

Adjusted

Unadjusted

last year

(%)

Net cash flows from operating activities

(RMB million)

1,535

1,805

1,797

-14.96

 

 

		From the												Increase/
		beginning				From the beginning of								decrease
		of the year				last year to the end of								compared
		to the end of				the reporting period								with the same
		the reporting				last year								period
		period				Adjusted				Unadjusted				last year
														(%)
Revenue (RMB million)			21,798				20,849				20,660				4.55
Net profit attributable to shareholders of
listed company (RMB million)			-205				-131				-132				56.49
Net profit attributable to shareholders of
listed company after deducting non-
recurring profit and loss (RMB million)			-247				-157				-158				57.32
															Decrease
															by 0.269
															percentage
Weighted average return on net assets (%)			-0.837				-0.568				-0.568				points
Basic earnings per share (RMB per share)			-0.0162				-0.01174				-0.01174				37.96
Diluted earnings per share
(RMB per share)			-0.0162				-0.01174				-0.01174				37.96

 

After deducting non-recurring profit and loss and relevant amounts:

 

Unit: million Currency: RMB
		Amount for
		the period
		(from January
Item			to March)
Gains or losses from disposal of non-current assets			5
Non-operating incomes and expenses other than the above			41
Effect on income tax			-2
Effect on minority interests (net of tax)			-2
Total			42

 

 

2.2

The 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			239,317

 

Shareholding of the 10 largest shareholders

Number of

shares with

Number of

Nature of

Percentage of

Total number

trading

shares pledged

Name of shareholders

shareholders

shareholding

of shares held

moratorium held

or locked-up

(%)

China Eastern Air Holding Company

(中國東方航空集團公司)

State-owned legal

(“CEA holding”)

person

40.03

5,072,922,927

241,547,927

Nil

HKSCC NOMINEES LIMITED

(including CES Global Holdings

(Hong Kong) Limited (東航國

際控股（香港）有限公司)

Overseas legal

(“CES Global”))

person

32.97

4,178,501,298

698,865,000

Unknown

CES Finance Holding Co. Ltd

(東航金戎控股有限責任公司)

State-owned legal

(“CES Finance”)

person

3.61

457,317,073

457,317,073

Nil

Shanghai Alliance Investment

State-owned legal

Limited (上海聯和投資有限公司)

person

3.37

427,085,429

0

Unknown

China National Aviation Fuel

Holding Company (中國航空油料

State-owned legal

集團公司)

person

3.32

421,052,632

0

Unknown

Jin Jiang International Holdings

Company Limited (錦江國際

State-owned legal

（集團）有限公司)

person

2.71

343,288,860

0

Unknown

Aerospace Capital Holding

Co., Ltd. (航天投資控股有限

State-owned legal

公司)

person

0.78

99,088,580

0

Unknown

Sinotrans Air Transportation

Development Co., Ltd. (中外運空

State-owned legal

運發展股份有限公司)

person

0.66

83,157,894

0

Unknown

Bank of China Group Investment

Overseas legal

Limited (中銀集團投資有限公司)

person

0.17

21,997,755

0

Unknown

Ma Xinqi

Domestic natural

person

0.15

18,741,056

0

Unknown

 

 

Shareholding of the 10 largest holders of shares without trading moratorium

 

		Number of
		listed shares
		held without
		trading moratorium
		as at the end of the
Name of shareholders (in full)		reporting period				Class and number of shares
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
(including CES Global Holdings (Hong
Kong) Limited (東航國際控股（香港）						Overseas listed foreign
有限公司)			3,479,636,298			shares			3,479,636,298
Shanghai Alliance Investment Limited
(上海聯和投資有限公司)			427,085,429			RMB ordinary shares			427,085,429
China National Aviation Fuel Holding
Company (中國航空油料集團公司)			421,052,632			RMB ordinary shares			421,052,632
Jin Jiang International Holdings Company
Limited (錦江國際（集團）有限公司)			343,288,860			RMB ordinary shares			343,288,860
Aerospace Capital Holding Co., Ltd.
(航天投資控股有限公司)			99,088,580			RMB ordinary shares			99,088,580
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
Bank of China Group Investment Limited
(中銀集團投資有限公司)			21,997,755			RMB ordinary shares			21,997,755
Ma Xinqi			18,741,056			RMB ordinary shares			18,741,056
Shanghai Light Industry Co., Ltd. for
Foreign Economic & Technical
Co-operation (上海輕工業對外經濟
技術合作有限公司)			18,574,343			RMB ordinary shares			18,574,343

 

Description of connected relationship or activities in concert among the above shareholders

Among the 4,178,469,298 shares held by HKSCC Nominees Limited, 2,626,240,000 shares are held by CES Global in the capacity of beneficial owner. CEA Holding, the controlling shareholder of the Company, owns 100% equity interest in CES Finance; and CES Finance owns 100% equity interest in CES Global, thus CES Finance and CES Global are subsidiaries wholly-owned by CEA Holding. The Company is not aware of any other connected relationship or activities in concert among the 10 largest holders of shares without trading moratorium.

  

 

3.

IMPORTANT MATTERS

 

3.1

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

 

✓ Applicable ¨ Not applicable

 

Item		Change				Reasons for the change
		(%)
Short-term borrowings			67.82			Primarily due to the increase in the
						Company’s short-term borrowings for
						operation needs during the first quarter of
						2014.
Notes payable			-50			Primarily due to the decrease in commercial
						acceptance bills of the Company’s
						subsidiaries.
Interests payable			-44.21			Primarily due to the maturity of the
						Company’s super short-term commercial
						paper which decreased the interest
						expenses.
Bonds payable			35.78			Primarily due to the Company’s issuance of
						RMB2.5 billion corporate bonds in March
						2014.
Business taxes and			-75.70			Primarily due to the implementation of the
surcharges						“transformation from business tax to value-
						added tax” policy by two of the Company’
						subsidiaries since April 2013 and August
						2013 respectively.
Finance expenses			582.86			Primary due to the increase of RMB797
						million in the Company’s exchange loss
						arising from the appreciation of the US
						dollar against Renminbi as compared to the
						same period last year.
Investment gains			300			Primary due to the bonus received from
						associated companies.
Non-operating incomes			65.19			Primary due to an increase in operational
						routes subsidy.
Net profit attributable			56.49			Primary due to non-operating factors such as
to shareholders of the						exchange loss which resulted in a decrease
Company						in net profit attributable to shareholders of
						the Company.

 

 

3.2

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

 

¨ Applicable ✓ Not applicable

 

3.3

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

 

✓ Applicable ¨ Not applicable

 

Background of undertaking

Type of undertaking

Undertaking party

Content of undertaking

Time and term of undertaking

Whether there is an implementation period

Whether the undertaking has been strictly implemented in a 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 problems, some of the land and property injected by CEA Holding into the Company had not yet been transferred to the name of the Company. In this regard, CEA Holding undertook that it shall, on a best-effort basis, enable the Company to obtain the relevant land use rights certificates and property ownership certificates in relation to its capital contribution to the Company, and complete the relevant legal procedures in relation to the transfer of property ownership; and CEA Holding shall bear all 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, and shall indemnify all the losses suffered by the Company in this regard.

Time of undertaking: 2009; effective for a long term

No

Yes

   

 

Subsequent progress of the undertaken matters

 

Pursuant to the requirements of 《上市公司監管指引第4號–上市公司實際控制 人、股東、關聯方、收購人以及上市公司承諾及履行》(Regulatory Guide for Listed Companies No. 4 – Undertakings by a Listed Company and its Effective Controller, Shareholders, Connected Persons and Acquirers and the Performance thereof) issued by the CSRC and滬證監公司字[2014]5號《關於進一步做好轄區 上市公司和相關方承諾及履行工作的通知》 (“Notice on Further Improvement of Undertakings and Performance of Listed Companies and Related Parties Under Shanghai Jurisdiction” (Hu Zheng Jian Gong Si Zi [2014] No. 5)) issued by Shanghai Securities Supervision Bureau, the Company made self-assessment on its effective controller, shareholders, connected persons, acquirers as well as the undertakings and performance of the Company. Based on the requirements of the policies, the Company and its controlling shareholder, CEA Holding, are rectifying and regulating relevant undertakings, researching and assessing solutions, and dealing with undertakings in respect of defects in land and other property ownership actively and prudently. For details, please refer to the announcements of the Company published on 15 February, 6 March and 3 April 2014 on China Securities Daily, Shanghai Securities News and the website of the Shanghai Stock Exchange and the overseas regulatory announcements of the Company dated 14 February, 5 March and 2 April 2014 published on the Stock Exchange’s website.

 

3.4

Warning 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

 

¨ Applicable ✓ Not applicable

 

	By order of the Board
	中國東方航空股份有限公司
	CHINA EASTERN AIRLINES CORPORATION LIMITED
	Liu Shaoyong
	Chairman

 

As at the date of this announcement, the directors of the Company are:

 

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)
Shao Ruiqing	(Independent non-executive Director)
Li Ruoshan	(Independent non-executive Director)
Ma Weihua	(Independent non-executive Director)

  

Shanghai, the People’s Republic of China

29 April 2014

 

 

4.

APPENDICES

 

4.1

 

Consolidated Balance Sheet

31 March 2014

 

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB million

Unaudited

 

		Balance at the				Balance at the
		end of the				beginning of
Item		reporting period				the year
Current assets:
Monetary capital			2,571				2,378
Derivative financial assets			–				–
Notes receivable			1				–
Trade receivables			3,828				3,524
Prepayments			920				852
Interest receivable			1				–
Dividends receivable			20				20
Other receivables			1,796				2,107
Inventory			2,283				2,305
Non-current assets held for sale			344				344
Non-current assets due within one year			91				98
Other non-current assets			1,081				982
Total current assets			12,936				12,610
Non-current assets:
Hedge instruments			68				68
Financial assets available for sale			411				411
Long-term equity investment			1,447				1,497
Fixed assets			93,172				90,677
Construction in progress			21,021				18,352
Intangible assets			2,651				2,375
Goodwill			9,028				9,028
Long-term deferred expenses			1,371				1,338
Deferred income tax assets			387				389
Other non-current assets			1,029				1,031
Total non-current assets			130,585				125,166
Total assets			143,521				137,776

 

 

4.1

 

Consolidated Balance Sheet (Cont’d)

31 March 2014

 

Prepared by: China Eastern Airlines Corporation Limited
Amounts expressed in RMB million
Unaudited

 

		Balance at the				Balance at the
		end of the				beginning of
Item		reporting period				the year
Current liabilities:
Short-term borrowings			13,300				7,925
Derivative financial liabilities			3				3
Notes payable			20				40
Trade payables			12,974				12,532
Account collected in advance			455				436
Settlement of vouchers			3,163				4,497
Staff remuneration payable			2,561				2,819
Tax payable			1,886				1,755
Interest payable			270				484
Other payables			2,793				2,224
Non-current liabilities due within one year			14,253				16,366
Other current liabilities			–				4,000
Total current liabilities			51,678				53,081
Non-current liabilities:
Long-term borrowings			22,795				20,330
Hedge instruments			132				124
Bonds payable			9,484				6,985
Long-term payables			26,005				23,728
Long-term staff remuneration payable			5,615				5,615
Special items payable			115				115
Deferred income tax liabilities			30				30
Other non-current liabilities			1,671				1,477
Total non-current liabilities			65,847				58,404
Total liabilities			117,525				111,485

 

 

4.1

 

Consolidated Balance Sheet (Cont’d)
31 March 2014

 

Prepared by: China Eastern Airlines Corporation Limited
Amounts expressed in RMB million
Unaudited

 

		Balance at the				Balance at the
		end of the				beginning of
Item		reporting period				the year
Owners’ equity (or shareholders’ equity):
Paid-up capital (or share capital)			12,674				12,674
Capital reserves			14,868				14,882
Surplus reserves			–				–
Undistributed profits			-3,144				-2,939
Total equity attributable to equity holders
of parent company			24,398				24,617
Minority interests			1,598				1,674
Total owners’ equity			25,996				26,291
Total liabilities and owners’ equity			143,521				137,776

 

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

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

 

 

4.1

 

Balance Sheet of Parent Company

31 March 2014

 

Prepared by: China Eastern Airlines Corporation Limited
Amounts expressed in RMB million

Unaudited

 

		Balance at the				Balance at the
		end of the				beginning of
Item		reporting period				the year
Current assets:
Monetary capital			884				1,242
Derivative financial assets			–				–
Notes receivable			–				–
Trade receivables			1,587				2,914
Prepayments			262				291
Interest receivable			–				–
Dividends receivable			20				51
Other receivables			9,483				9,318
Inventory			1,935				1,964
Non-current assets held for sale			–				–
Non-current assets due within one year			40				40
Other non-current assets			1,208				977
Total current assets			15,419				16,797
Non-current assets:
Hedge instruments			68				68
Financial assets available for sale			374				374
Long-term equity investment			11,455				11,366
Fixed assets			59,068				57,840
Construction in progress			19,336				16,709
Intangible assets			1,663				1,381
Goodwill			9,028				9,028
Long-term deferred expenses			964				958
Deferred income tax assets			–				–
Other non-current assets			592				600
Total non-current assets			102,548				98,324
Total assets			117,967				115,121

  

 

4.1

 

Balance Sheet of Parent Company (Cont’d)

31 March 2014

 

Prepared by: China Eastern Airlines Corporation Limited
Amounts expressed in RMB million

Unaudited

 

		Balance at the				Balance at the
		end of the				beginning of
Item		reporting period				the year
Current liabilities:
Short-term borrowings			13,556				8,018
Derivative financial liabilities			3				3
Notes payable			–				–
Trade payables			11,688				11,787
Account collected in advance			174				148
Settlement of vouchers			3,058				4,366
Staff remuneration payable			1,573				1,690
Tax payable			755				848
Interest payable			160				379
Other payables			7,626				6,307
Non-current liabilities due within one year			8,881				10,935
Other current liabilities			–				4,000
Total current liabilities			47,474				48,481
Non-current liabilities:
Long-term borrowings			17,032				14,400
Hedge instruments			132				124
Bonds payable			4,791				4,789
Long-term payables			17,059				15,767
Long-term staff remuneration payable			4,466				4,466
Special items payable			95				95
Deferred income tax liabilities			–				–
Other non-current liabilities			1,021				867
Total non-current liabilities			44,596				40,508
Total liabilities			92,070				88,989

 

 

4.1

 

Balance Sheet of Parent Company (Cont’d)

31 March 2014

 

Prepared by: China Eastern Airlines Corporation Limited
Amounts expressed in RMB million
Unaudited

 

		Balance at the				Balance at the
		end of the				beginning of
Item		reporting period				the year
Owners’ equity (or shareholders’ equity):
Paid-up capital (or share capital)			12,674				12,674
Capital reserves			15,701				15,716
Surplus reserves			–				–
Undistributed profits			-2,478				-2,258
Total owners’ equity (or shareholders’
equity)			25,897				26,132
Total liabilities and owners’ equity
(or shareholders’ equity)			117,967				115,121

  

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

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

 

 

4.2

 

Consolidated Income Statement

January to March 2014

 

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB million

Unaudited

 

								Amount for the
				Amount for				corresponding
				the reporting				period of
Item				period				last year
1.		Total revenue			21,798				20,849
		Of which: Revenue			21,798				20,849
2.		Total operating costs
					22,963				21,588
		Of which: Operating costs			19,955				19,379
		Business taxes and surcharges			26				107
		Selling expenses			1,415				1,356
		Administrative expenses			611				606
		Finance expenses			956				140
		Assets impairment loss			–				–
		Add: Gains arising from changes in fair
		value (loss indicated by “–”)			6				11
		Investment gains (loss indicated by “–”)			12				3
		Of which: Investment gains on associated
		companies and joint ventures			–				–
3.		Operating profit (loss indicated by “–”)			-1,147				-725
		Add: Non-operating income			968				586
		Less: Non-operating expenses			3				3
		Of which: Loss on disposal of non-current
		assets			–				–
4.		Total profits (total losses indicated by “–”)			-182				-142
		Less: Income tax expenses			61				25
5.		Net profit (net loss indicated by “–”)			-243				-167
		Net profit attributable to equity holders of
		parent company			-205				-131
		Minority interests			-38				-36
6.		Earnings per share:
		(1)  Basic earnings per share			-0.0162				-0.0117
		(2)  Diluted earnings per share			-0.0162				-0.0117

   

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

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

 

 

4.2

 

Income Statement of Parent Company

January to March 2014

 

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB million

Unaudited

 

								Amount for the
				Amount for				corresponding
				the reporting				period of
Item				period				last year
1.		Revenue			11,687				11,006
		Less: Operating costs			10,742				10,359
		Business taxes and surcharges			6				12
		Selling expenses			798				859
		Administrative expenses			333				318
		Finance expenses			669				100
		Assets impairment loss			–				–
		Add: Gains arising from changes in fair
		value (loss indicated by “–”)			6				11
		Investment gains (loss indicated by “–”)			30				-400
		Of which: Investment gains on associated
		companies and joint ventures			–				–
2.		Operating profit (loss indicated by “–”)			-825				-1,031
		Add: Non-operating income			607				516
		Less: Non-operating expenses			2				2
		Of which: Loss on disposal of non-current
		assets			–				–
3.		Total profits (total losses indicated by “–”)			-220				-517
		Less: Income tax expenses			–				–
4.		Net profit (net loss indicated by “–”)
					-220				-517

  

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

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

 

 

4.3

 

Consolidated Cash Flow Statement

From January to March 2014

 

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB million

Unaudited

 

								Amount for the
								corresponding
				Amount for the				period of
Item				reporting period				last year
1.		Cash flow from operating activities:
		Cash received from sales of goods
		and provision of labour services			21,850				20,721
		Other cash received from operating
		activities			1,360				1,095
		Sub-total of cash inflow from
		operating activities			23,210				21,816
		Cash paid for purchase of goods
		and receiving of labour services			15,548				14,253
		Cash paid to and for employees			3,519				3,609
		Taxes paid			575				502
		Other cash paid for operating activities			2,033				1,647
		Sub-total of cash outflow from
		operating activities			21,675				20,011
		Net cash flows from operating
		activities			1,535				1,805

 

 

4.3

 

Consolidated Cash Flow Statement (Cont’d)

From January to March 2014

 

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB million

Unaudited

 

								Amount for the
								corresponding
				Amount for the				period of
Item				reporting period				last year
2.		Cash flow from investing activities:
		Cash received from disposal
		of investment			–				–
		Investment income in cash			14				1
		Net cash recovered from disposals
		of fixed assets, intangible assets
		and other long-term assets			5				12
		Other cash received from investing
		activities			58				991
		Sub-total of cash inflow from
		investing activities			77				1,004
		Amount paid in cash in relation to
		purchases of fixed assets, intangible
		assets and other long-term assets			4,340				4,711
		Investments paid in cash			–				–
		Sub-total of cash outflow from
		investing activities			4,340				4,711
		Net cash flow from investing activities			–4,263				–3,707

 

 

4.3

 

Consolidated Cash Flow Statement (Cont’d)

From January to March 2014

 

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB million

Unaudited

 

								Amount for the
								corresponding
				Amount for the				period of
Item				reporting period				last year
3.		Cash flow from fund raising
		activities:
		Proceeds received in cash
		from investments			–				50
		Cash received from borrowings			11,673				7,385
		Proceeds received in cash from bonds
		issuance			2,500				4,795
		Other proceeds in cash from fund
		raising activities			–				–
		Sub-total of cash inflow from
		fund raising activities			14,173				12,230
		Cash paid for repayment
		of indebtedness			9,658				3,035
		Cash payments for distribution
		of dividends, profits or payments
		of interest expense			588				448
		Other cash paid for fund raising
		activities			962				1,155
		Sub-total of cash outflow from
		fund raising activities			11,208				4,638
		Net cash flow from fund raising activities			2,965				7,592
4.		Effect of changes in exchange rate
		on cash and cash equivalents			–22				–11
5.		Net increase in cash and
		cash equivalents			215				5,679
		Add: Balance of cash and cash
		equivalents at the beginning
		of the period			1,995				2,539
6.		Balance of cash and cash equivalents
		at the end of the period			2,210				8,218

  

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

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

 

 

4.3

 

Cash Flow Statement of Parent Company

From January to March 2014

 

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB million

Unaudited

 

								Amount for the
								corresponding
				Amount for the				period of
Item				reporting period				last year
1.		Cash flow from operating activities:
		Cash received from sales of goods
		and provision of labour services			13,694				13,453
		Other cash received from operating
		activities			1,236				884
		Sub-total of cash inflow from operating activities			14,930				14,337
		Cash paid for purchase of goods
		and receiving of labour services			8,305				9,325
		Cash paid to and for employees			2,349				2,024
		Taxes paid			474				222
		Other cash paid for operating activities			1,212				1,242
		Sub-total of cash outflow from
		operating activities			12,340				12,813
		Net cash flows from operating
		activities			2,590				1,524
2.		Cash flow from investing activities:
		Cash received from disposal
		of investment			–				951
		Investment income in cash			46				89
		Net cash recovered from disposals
		of fixed assets, intangible assets
		and other long-term assets			4				–
		Other cash received from investing
		activities			30				12
		Sub-total of cash inflow from
		investing activities			80				1,052
		Amount paid in cash in relation to
		purchases of fixed assets, intangible
		assets and other long-term assets			3,804				4,107
		Investments paid in cash			85				–
		Sub-total of cash outflow from
		investing activities			3,889				4,107
		Net cash flow from investing activities			–3,809				–3,055

 

 

4.3

 

Cash Flow Statement of Parent Company (Cont’d) 

From January to March 2014

 

Prepared by: China Eastern Airlines Corporation Limited
Amounts expressed in RMB million

Unaudited

 

								Amount for the
								corresponding
				Amount for the				period of
Item				reporting period				last year
3.		Cash flow from fund raising
		activities:
		Proceeds received in cash
		from investments			–				–
		Cash received from borrowings			11,173				6,879
		Proceeds received in cash from bonds
		issuance			–				4,795
		Other proceeds in cash from fund
		raising activities			–				–
		Sub-total of cash inflow from fund
		raising activities			11,173				11,674
		Cash paid for repayment
		of indebtedness			9,097				2,416
		Cash payments for distribution
		of dividends, profits or payments
		of interest expense			449				218
		Other cash paid for fund raising
		activities			744				1,017
		Sub-total of cash outflow from
		fund raising activities			10,290				3,651
		Net cash flow from fund raising
		activities			883				8,023
4.		Effect of changes in exchange rate on
		cash and cash equivalents			–21				–10
5.		Net increase in cash and cash
		equivalents			–357				6,482
		Add: Balance of cash and cash
		equivalents at the beginning
		of the period			1,029				617
6.		Balance of cash and cash equivalents
		at the end of the period			672				7,099

 

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

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