The following is a summary of the TravelSky Technology Limited (TSYHY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• TravelSky reported a net profit of approximately RMB1.399 billion in 2023, a 123% increase on a year-on-year basis.

• The company's operating income reached around RMB6.984 billion, a 34% year-on-year increase.

• A significant rise was reported in the company's Aviation Information Technology Services revenue, reaching RMB3.85 billion (up by 149%).

• The system integration services revenue fell by 41.4% to RMB994 million due to different project completion times.

• The company has set aside significant bad debt provisioning. RMB 180 million is for clients with long payment cycles, and RMB 172 million for clients going through legal or serious financial conditions. However, management asserts that recovery is likely due to the stable, long-term nature of these clients.

Business Progress:

• TravelSky processed 620.1 million passengers in total during 2023 for domestic and international commercial airlines, about 90% of 2019's level.

• The company's ETD system was implemented in 17 airlines to bolster their digital ecosystems.

• The company managed to achieve high-level network connections to all Global Distribution Systems (GDS) worldwide, and to 142 overseas and regional commercial airlines.

• The company advanced technological innovation with 118 patents received throughout 2023.

• TravelSky plans to seize the ongoing recovery in the civil aviation industry, focusing on enhancing innovation capabilities and operational efficiency in 2024.

• The company plans to further invest in R&D and technical support for core functions and competitiveness.

• Plans to react to climate change through various measures such as upgrading their HVAC, power supply distribution, and lighting facilities, and adopting measures like energy capping management, and smart operation models.

More details: TRAVELSKY TECHNOLO IR

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