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 2012

 

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 27, 2012	By	/s/ Wang Jin
		Name: Wang Jin
		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.

 

 

 

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

(Stock code: 00670)

 

FIRST QUARTERLY REPORT 2012

 

This announcement is made by the Company pursuant to the disclosure requirement under Rule 13.09 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 2012 were not audited, and were prepared in accordance with the PRC Accounting Regulations.

 

1.

IMPORTANT NOTICE

 

This announcement is made by China Eastern Airlines Corporation Limited (the “Company”) pursuant to the disclosure requirement under Rule 13.09(2) 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 2012 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 report does not contain any false information, misleading statement or material omission, and accept joint and several responsibility for the truthfulness, accuracy and completeness of the contents of this report.

 

All directors of the Company attended the meeting of the Board.

 

 

This first quarterly report of the Company is unaudited.

 

Name of person-in-charge of the Company	Liu Shaoyong
Name of officer-in-charge of accounting	Ma Xulun
Name of 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 and complete.

 

2.

BASIC PARTICULARS OF THE COMPANY

 

2.1

Main accounting data and financial indicators

 

Currency: RMB

 

		As at the end of the reporting period				As at the end of last year				Increase/decrease as at the end of the reporting period compared with the end of last year
										(%)
Total assets (RMB’000)			114,579,341.00				112,215,152.00				2.11
Owners’ equity (or shareholders’ equity) (RMB’000)			20,749,382.00				20,437,377.00				1.53
Net assets per share attributable to the shareholders of listed company (RMB per share)			1.8400				1.8124				1.52

 

 

		From the beginning of the year to the end of the reporting period				Increase/decrease compared with the same period last year
						(%)
Net cash flow generated from operating activities (RMB’000)			3,484,573.00				–1.19
Net cash flow generated from operating activities per share (RMB per share)			0.3090				–1.19

 

 

 

		Reporting period				From the beginning of the year to the end of the reporting period				Increase/decrease for the reporting period compared with the same period last year
										(%)
Net profit attributable to shareholders of listed company (RMB’000)			266,527.00				266,527.00				–73.68
Basic earnings per share (RMB per share)			0.0236				0.0236				–73.78
Basic earnings per share after deducting non-recurring profit and loss (RMB per share)			0.0224				0.0224				–74.55
Diluted earnings per share (RMB per share)			0.0236				0.0236				–73.78
Weighted average return on equity (%)			1.30				1.30				Decrease by 4.99 percentage points
Weighted average return on equity after deducting non-recurring profit and loss (%)			1.23				1.23				Decrease by 4.94 percentage points

 

 

  

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

 

Unit: ’000

Currency: RMB

 

Item		Amount
Gains or losses from disposal of non-current assets			6,596
Non-operating incomes and expenses other than the above			11,145
Effect on income tax			–1,889
Effect on minority interests (net of tax)			–1,553
Total			14,299

 

 

 

2.2

The total number of the Company’s shareholders and the shareholdings of the 10 largest holders of shares not subject to selling moratorium as at the end of the reporting period

 

Unit: Shares

 

The total number of the Company’s shareholders as at the end of the reporting period

276,867

 

Shareholding of the 10 largest holders of circulating shares not subject to selling moratorium

 

Name of shareholders (in full)		Number of circulating shares not subject to selling moratorium held at the end of the period				Class
HKSCC NOMINEES LIMITED (including CES Global Holdings (Hong Kong) Limited)			2,040,815,299			Overseas listed foreign shares
Shanghai Alliance Investment Limited (上海聯和投資有限公司)			427,085,429			RMB ordinary shares
China National Aviation Fuel Holding Co. (中國航空油料集團公司)			421,052,632			RMB ordinary shares
Aerospace Capital Holding Co. Ltd. (航天投資控股有限公司)			99,088,580			RMB ordinary shares
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
Jin Jiang International Holdings Company Limited (錦江國際(集團)有限公司)			54,400,000			RMB ordinary shares
Bank of China – Harvest Services Value-added Industry Securities Investment Funds			25,552,714			RMB ordinary shares
Bank of China Group Investment Limited (中銀集團投資有限公司)			21,997,755			RMB ordinary shares
上海輕工業對外經濟技術合作有限公司			18,574,343			RMB ordinary shares
上海紡織(集團)有限公司			18,574,270			RMB ordinary shares

 

 

 

 

3.

IMPORTANT MATTERS

 

3.1

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

 

x      Applicable          ¨      Not applicable

 

Item	Change	Reasons for change
	(%)
Finance Expenses	1,078.88	Primarily due to the net exchange gain of  RMB330  million  arising  from  the substantial appreciation of the Renminbi against the US Dollar during the same period last year, and as compared to the relatively steady level of the exchange rate of Renminbi against the US dollar this year.
Gain arising from changes in fair value	–91.26	Primarily due to the gain arising from changes in fair value of approximately RMB79.45 million arising from the crude oil hedging of the Company during the first quarter of 2011. All of the crude oil hedging transactions of the Company terminated at the end of 2011.
Investment income	30.05	Primarily due to the increase in the operating profit of associated companies accounted for using equity method of accounting during the first quarter of 2012 as compared to the same period in 2011.
Non-operating income	138.04	Primarily due to the increase in the operational financial and taxation subsidies received by the Company during the first quarter of 2012.
Net profit attributable to shareholders of listed company	–73.68	Primarily due to the decrease in net profit of the Company for the first quarter of 2012 as compared to the same period in 2011.

 

3.2

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

 

¨      Applicable          x      Not applicable 

 

3.3

The status of implementation of the matters undertaken by the Company, shareholders and the ultimate controller

 

¨      Applicable          x      Not applicable 

 

 

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          x      Not applicable 

 

3.5

Implementation of cash dividend policy during the reporting period

 

In 2011, the parent company’s net profit was RMB4,892 million, and the total accumulated losses of the parent company as at 31 December 2011 amounted to RMB4,503 million. According to the requirements of relevant laws and regulations, the Company shall make good its losses incurred in previous years with its profit for the year before any profit distribution to the shareholders. As such, no profit shall be distributed by the Company in respect of the year 2011 under the Company Law and the Articles. During the reporting period¸ no cash dividend was paid by the Company.

 

By order of the Board CHINA EASTERN AIRLINES CORPORATION LIMITED Liu Shaoyong Chairman

 

 

The Directors as at the date of this announcement are:

 

Liu Shaoyong	(Chairman)
Ma Xulun	(Vice Chairman, President)
Li Yangmin	(Director, Vice President)
Luo Zhuping	(Director)
Sandy Ke-Yaw Liu	(Independent non-executive Director)
Wu Xiaogen	(Independent non-executive Director)
Ji Weidong	(Independent non-executive Director)
Shao Ruiqing	(Independent non-executive Director)

 

Shanghai, the People’s Republic of China

27 April 2012

 

 

4.

APPENDICES

 

4.1

 

Consolidated Balance Sheet

31 March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

Item		Balance at the end of the reporting period				Balance at the beginning of the year
Current assets:
Monetary capital			7,681,418				6,755,260
Settlement reserves fund			–				–
Deposits with banks and other financial institutions			–				–
Derivative financial assets			4,365				4,365
Notes receivable			–				–
Trade receivables			2,393,029				2,197,493
Prepayments			760,609				973,451
Premiums receivable			–				–
Receivables from reinsurers			–				–
Reinsurance deposits receivable			–				–
Interest receivable			798				21,333
Dividends receivable			–				–
Other receivables			2,123,796				1,722,644
Buying back the sale of financial assets			–				–
Inventory			1,612,999				1,555,544
Non-current assets due within one year			–				–
Other current assets			492,645				482,313
Total current assets			15,069,659				13,712,403

 

 

 

4.1

 

Consolidated Balance Sheet (Cont’d)

31 March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

Item		Balance at the end of the reporting period				Balance at the beginning of the year
Non-current assets:
Entrusted loans and advances			–				–
Financial assets available for sale			2,328				2,344
Held-to-maturity investments			–				–
Long-term receivables			–				–
Long-term equity investment			1,551,587				1,498,881
Properties held for investment			–				–
Fixed assets			72,755,713				71,565,372
Construction in progress			12,993,034				13,085,908
Construction materials			–				–
Disposal of fixed assets			–				–
Biological assets for production			–				–
Oil and gas assets			–				–
Intangible assets			1,897,433				1,898,953
Development expenses			–				–
Goodwill			8,509,030				8,509,030
Long-term deferred expenses			1,172,612				1,180,254
Deferred income tax assets			12,394				12,427
Other non-current assets			615,551				749,580
Total non-current assets			99,509,682				98,502,749
Total assets			114,579,341				112,215,152

 

 

 

4.1

 

Consolidated Balance Sheet (Cont’d)

31 March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

Item		Balance at the end of the reporting period				Balance at the beginning of the year
Current liabilities:
Short-term borrowings			13,913,496				11,453,880
Borrowing from Central Bank			–				–
Deposits from customers and other banks			–				–
Advances from banks and other financial institutions			–				–
Derivative financial liabilities			279,704				332,984
Notes payable			47,746				47,746
Trade payables			12,294,959				10,267,531
Account collected in advance			2,441,554				3,664,673
Financial assets sold under agreements to repurchase			–				–
Handling charges and commissions payable			–				–
Staff remuneration payable			2,408,644				3,047,095
Tax payable			1,826,788				2,002,101
Interest payable			159,967				179,792
Dividends payable			740				740
Other payables			2,551,423				2,717,410
Amounts due to reinsurers			–				–
Insurance deposits payable			–				–
Securities trading agency fees			–				–
Securities underwriting fees			–				–
Non-current liabilities due within one year			8,333,308				9,950,619
Other current liabilities			–				–
Total current liabilities			44,258,329				43,664,571

 

 

4.1

 

Consolidated Balance Sheet (Cont’d)

31 March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

Item		Balance at the end of the reporting period				Balance at the beginning of the year
Non-current liabilities:
Long-term borrowings			22,233,013				21,103,463
Bonds payable			2,500,000				2,500,000
Long-term payables			21,970,451				21,551,521
Special items payable			112,535				112,685
Expected liabilities			–				–
Deferred income tax liabilities			29,326				29,326
Other non-current liabilities			1,110,265				1,108,173
Total non-current liabilities			47,955,590				46,405,168
Total liabilities			92,213,919				90,069,739
Owners’ equity (or shareholders’ equity):
Paid-up capital (or share capital)			11,276,539				11,276,539
Capital reserves			15,672,064				15,626,586
Less: Treasury shares			–				–
Special reserves			–				–
Surplus reserves			–				–
Provision for ordinary risks			–				–
Undistributed profits			–6,199,221				–6,465,748
Exchange difference in foreign currency statements			–				–
Total equity attributable to equity holders of parent company			20,749,382				20,437,377
Minority interests			1,616,040				1,708,036
Total owners’ equity			22,365,422				22,145,413
Total liabilities and owners’ equity			114,579,341				112,215,152

 

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 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

Item		Balance at the end of the reporting period				Balance at the beginning of the year
Current assets:
Monetary capital			1,334,075				1,212,180
Derivative financial assets			4,365				4,365
Notes receivable			–				–
Trade receivables			2,255,675				2,256,601
Prepayments			430,969				422,879
Interest receivable			–				5,912
Dividends receivable			–				–
Other receivables			4,710,127				3,464,920
Inventory			1,336,458				1,270,586
Non-current assets due within one year			–				–
Other current assets			483,806				482,313
Total current assets			10,555,475				9,119,756
Non-current assets:
Financial assets available for sale			–				–
Held-to-maturity investments			–				–
Long-term receivables			–				–
Long-term equity investment			9,045,415				8,993,368
Properties held for investment			–				–
Fixed assets			50,600,550				49,186,730
Construction in progress			10,966,301				11,184,681
Construction materials			–				–
Disposal of fixed assets			–				–
Biological assets for production			–				–
Oil and gas assets			–				–
Intangible assets			865,237				861,469
Development expenses			–				–
Goodwill			8,509,030				8,509,030
Long-term deferred expenses			693,247				718,014
Deferred income tax assets			–				–
Other non-current assets			264,740				262,420
Total non-current assets			80,944,520				79,715,712
Total assets			91,499,995				88,835,468

 

 

 

4.1

Balance Sheet of Parent Company (Cont’d)

31 March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

Item		Balance at the end of the reporting period				Balance at the beginning of the year
Current liabilities:
Short-term borrowings			11,981,684				9,765,647
Derivative financial liabilities			279,704				332,984
Notes payable			–				–
Trade payables			10,913,602				7,652,110
Account collected in advance			1,950,844				2,925,710
Staff remuneration payable			1,457,972				1,853,809
Tax payable			896,400				1,109,730
Interest payable			107,010				110,108
Dividends payable			–				–
Other payables			2,291,385				3,067,806
Non-current liabilities due within one year			6,420,671				7,499,231
Other current liabilities			–				–
Total current liabilities			36,299,272				34,317,135
Non-current liabilities:
Long-term borrowings			16,485,378				15,184,868
Bonds payable			–				–
Long-term payables			15,303,072				16,276,221
Special items payable			91,649				91,649
Expected liabilities			–				–
Deferred income tax liabilities			–				–
Other non-current liabilities			636,162				634,069
Total non-current liabilities			32,516,261				32,186,807
Total liabilities			68,815,533				66,503,942

 

 

 

4.1

Balance Sheet of Parent Company (Cont’d)

31 March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

Item		Balance at the end of the reporting period				Balance at the beginning of the year
Owners’ equity (or shareholders’ equity):
Paid-up capital (or share capital)			11,276,539				11,276,539
Capital reserves			15,603,736				15,558,258
Less: Treasury shares			–				–
Special reserves			–				–
Surplus reserves			–				–
Provision for ordinary risks			–				–
Undistributed profits			–4,195,813				–4,503,271
Total owners’ equity (or shareholders’ equity)			22,684,462				22,331,526
Total liabilities and owners’ equity (or shareholders’ equity)			91,499,995				88,835,468

 

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 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item		Amount for the reporting period				Amount for the corresponding period of last year
1.		Total revenue			19,324,116				18,157,811
		Of which: Revenue			19,324,116				18,157,811
		Interest income			–				–
		Premiums earned			–				–
		Handling charges and commission income			–				–
2.		Total operating costs			19,566,510				17,390,315
		Of which: Operating costs			17,247,303				15,265,258
		Interest expenses			–				–
		Handling charges and commission expenses			–				–
		Payments on surrenders			–				–
		Net compensation expenses			–				–
		Net provision for insurance contract			–				–
		Insurance policy dividend expenses			–				–
		Reinsurance expenses			–				–
		Business taxes and surcharges			156,282				366,351
		Selling expenses			1,209,900				1,183,796
		General and administrative expenses			557,176				541,329
		Finance expenses			395,881				33,581
		Assets impairment loss			–32				–
		Add: Gains arising from changes in fair value (loss indicated by “–”)			9,128				104,430
		Investment gains (loss indicated by “–”)			37,557				28,880
		Of which: Investment gains on associated companies and joint ventures			–				–
		Exchange gains (loss indicated by “–”)			–				–

 

 

 

4.2

 

Consolidated Income Statement (Cont’d)

January to March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item		Amount for the reporting period				Amount for the corresponding period of last year
3.		Operating profit (loss indicated by “–”)			–195,709				900,806
		Add: Non-operating income			414,834				174,270
		Less: Non-operating expenses			9,523				5,677
		Of which: Loss on disposal of non-current assets			–				–
4.		Total profits (total losses indicated by “–”)			209,602				1,069,399
		Less: Income tax expenses			29,984				19,535
5.		Net profit (net loss indicated by “–”)			179,618				1,049,864
		Net profit attributable to equity holders of parent company			266,527				1,012,766
		Minority interests			–86,909				37,098
6.		Earnings per share:
		(1) Basic earnings per share			0.0236				0.0898
		(2) Diluted earnings per share			0.0236				0.0898
7.		Other comprehensive income			–				–
8.		Total comprehensive income
		Total comprehensive income attributable to equity holders of parent company			–				–
		Total comprehensive income attributable to minority interests			–				–

 

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 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item		Amount for the reporting period				Amount for the corresponding period of last year
1.		Revenue			10,510,593				11,600,715
		Less: Operating costs			9,128,689				9,757,899
		Business taxes and surcharges			14,966				215,031
		Selling expenses			818,477				785,039
		General and administrative expenses			304,995				317,326
		Finance expenses			314,502				22,587
		Assets impairment loss			–				–
		Add: Gains from changes in fair value (loss indicated by “–”)			9,128				104,430
		Investment gains (loss indicated by “–”)			28,987				26,902
		Of which: Investment gains on associated companies and joint ventures			–				–
2.		Operating profit (loss indicated by “–”)			–32,921				634,165
		Add: Non-operating income			342,494				147,884
		Less: Non-operating expenses			2,115				4,698
		Of which: Loss on disposal of non-current assets			–				–
3.		Total profits (total losses indicated by “–”)			307,458				777,351
		Less: Income tax expenses			–				–
4.		Net profit (net loss indicated by “–”)			307,458				777,351
5.		Earnings per share:
		(1) Basic earnings per share			–				–
		(2) Diluted earnings per share			–				–
6.		Other comprehensive income			–				–
7.		Total comprehensive income			–				–

 

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

January to March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item		Amount for the reporting period				Amount for the corresponding period of last year
1.		Cash flow from operating activities:
		Cash received from sales of goods and provision of labour services			17,583,504				18,103,930
		Net increase in customer deposits and deposits with banks			–				–
		Net increase in loans 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 derivative financial assets			–				–
		Interests, handling charges and commissions received			–				–
		Net increase in advances from banks and other financial institutions			–				–
		Net increase in repurchase of business funds			–				–
		Refund of taxes received			–				–
		Other cash received relating to operating activities			1,006,459				809,768
		Sub-total of operating cash inflow			18,589,963				18,913,698
		Cash paid for purchase of goods and receiving of labour services			9,636,206				10,104,660
		Net increase in customers deposits and advances			–				–
		Net increase in deposits with Central Bank and banks			–				–
		Compensation paid pursuant to original insurance contract and settled in cash			–				–
		Interest, handling charges and commission paid by cash			–				–
		Insurance policy dividend paid by cash			–				–
		Cash paid to and for employees			3,458,997				3,127,168
		Taxes paid			626,061				1,033,776
		Other cash paid for operating activities			1,384,126				1,121,439
		Sub-total of cash outflow from operating activities			15,105,390				15,387,043
		Net cash flows from operating activities			3,484,573				3,526,655

 

 

 

 

4.3

Consolidated cash flow statement (Cont’d)

January to March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item			Amount for the reporting period				Amount for the corresponding period of last year
2.		Cash flow from investment activities:
		Cash received from disposal of investment			–				–
		Investment income in cash			7,083				14,350
		Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets			6,538				46
		Net cash received from disposal of subsidiaries and other operating units			–				–
		Other cash received from investing activities			68,176				29,203
		Sub-total of cash inflow from investing activities			81,797				43,599
		Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets			2,730,406				3,153,282
		Investments paid in cash			–				–
		Net increase in pledged loans			–				–
		Net cash received from subsidiaries and other business units			–				–
		Other cash paid for investing activities			660,000				47,549
		Sub-total of cash outflow from investment activities			3,390,406				3,200,831
		Net cash flow from investment activities			–3,308,609				–3,157,232

 

 

 

4.3

Consolidated cash flow statement (Cont’d)

January to March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item		Amount for the reporting period				Amount for the corresponding period of last year
3.		Cash flow from fund raising activities:
		Proceeds received in cash from investments			–				–
		Of which: Cash received by subsidiaries from investment by minority shareholders			–				–
		Cash received from borrowings			11,466,663				6,324,605
		Proceeds received in cash from bonds issuance			–				–
		Other proceeds in cash from fund raising activities			1,400				756,599
		Sub-total of cash inflow from fund raising activities			11,468,063				7,081,204
		Cash paid for repayment of indebtedness			9,783,517				5,030,163
		Cash payments for distribution of dividends, profits or payments of interest expense			504,732				392,588
		Of which: Dividend and profit paid by subsidiaries to minority shareholders			–				–
		Other cash paid for fund raising activities			1,084,204				906,447
		Sub-total of cash outflow from fund raising activities			11,372,453				6,329,198
		Net cash flow from fund raising activities			95,610				752,006
4.		Effect of changes in exchange rate on cash and cash equivalents			–4,016				–3,328
5.		Net increase in cash and cash equivalents			267,558				1,118,101
		Add: Balance of cash and cash equivalents at the beginning of the period			3,860,973				3,078,228
6.		Balance of cash and cash equivalents at the end of the period			4,128,531				4,196,329

 

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

January to March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item		Amount for the reporting period				Amount for the corresponding period of last year
1.		Cash flow from operating activities:
		Cash received from sales of goods and provision of labour services			10,300,423				11,103,767
		Refund of taxes received			–				–
		Other cash received relating to operating activities			937,643				764,652
		Sub-total of operating cash inflow			11,238,066				11,868,419
		Cash paid for purchase of goods and receiving labour services			6,409,063				5,824,685
		Cash paid to and for employees			1,990,286				1,910,180
		Taxes paid			322,244				600,546
		Other cash paid for operating activities			1,243,285				1,212,260
		Sub-total of cash outflow from operating activities			9,964,878				9,547,671
		Net cash flows from operating activities			1,273,188				2,320,748

 

 

 

4.3

Cash flow statement of Parent Company (Cont’t)

January to March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item			Amount for the reporting period				Amount for the corresponding period of last year
2.		Cash flow from investment activities:
		Cash received from disposal of investment			–				50,000
		Investment income in cash			13,047				14,603
		Net cash recovered from disposals of fixed assets, intangible assets and other long-term assets			181				36
		Net cash received from disposal of subsidiaries and other operating units			–				–
		Other cash received from investing activities			16,246				5,324
		Sub-total of cash inflow from investing activities			29,474				69,963
		Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets			1,890,150				2,844,716
		Investments paid in cash			–				–
		Net cash received from subsidiaries and other business units			–				–
		Other cash paid for investing activities			–				47,549
		Sub-total of cash outflow from investment activities			1,890,150				2,892,265
		Net cash flow from investment activities			–1,860,676				–2,822,302

 

 

4.3

Cash flow statement of Parent Company (Cont’t)

January to March 2012

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

 

		Item		Amount for the reporting period				Amount for the corresponding period of last year
3.		Cash flow from fund raising activities:
		Proceeds received in cash from investments			–				–
		Cash received from borrowings			10,484,103				5,763,883
		Proceeds received in cash from bonds issuance			–				–
		Other proceeds in cash from fund raising activities			–				756,599
		Sub-total of cash inflow from fund raising activities			10,484,103				6,520,482
		Cash paid for repayment of indebtedness			8,499,998				3,746,356
		Cash payments for distribution of dividends, profits or payments of interest expense			298,421				338,261
		Other cash paid for fund raising activities			972,417				889,333
		Sub-total of cash outflow from fund raising activities			9,770,836				4,973,950
		Net cash flow from fund raising activities			713,267				1,546,532
4.		Effect of changes in exchange rate on cash and cash equivalents			–3,884				–2,768
5.		Net increase in cash and cash equivalents			121,895				1,042,210
		Add: Balance of cash and cash equivalents at the beginning of the period			852,012				851,283
6.		Balance of cash and cash equivalents at the end of the period			973,907				1,893,493

 

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

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