China Eastern Logistics (stock code: 601156) half-yearly report for 2023 has been released. During the reporting period, the company's operating income was 9375582019.10 yuan, down 19.22% from 11606871791.89 yuan in the same period last year. The net profit belonging to shareholders of listed companies was 1271504366.98 yuan, down 40.11% from 2123175223.30 yuan in the same period last year. It is mainly due to the rapid recovery of capacity supply in the air cargo market, the weakening demand and the sharp decline in freight rates. At the same time, the net profit belonging to shareholders of listed companies after deducting non-recurring gains and losses was 1136837586.53 yuan, a decrease of 45.03% compared with 2067988630.52 yuan in the same period last year.
In terms of cash flow, the net cash flow generated by operating activities was 2179843155.86 yuan, down 28.23% from 3037312334.91 yuan in the same period last year. However, the net cash flow generated by investment activities was-240303231.81 yuan, which was lower than that of-2332492984.21 yuan in the same period last year, mainly due to the fact that 1.5 billion yuan in cash management of funds raised in the same period last year had not been recovered and cash management had not been carried out in the reporting period. The net cash flow from fund-raising activities was-2977001867.87 yuan, compared with-1457895860.28 yuan in the same period last year, and the loss increased, mainly due to the repayment of short-term loans of 560 million yuan during the reporting period and the additional payment of 930 million yuan for aircraft financial lease rent.
In terms of assets and liabilities, the net assets belonging to shareholders of listed companies at the end of this report were 14233556362.25 yuan, an increase of 5.25% compared with 13523315504.59 yuan at the end of the previous year. The total assets were 27445963415.82 yuan, an increase of 5.29% compared with 26067810853.30 yuan at the end of last year. Current assets totaled 11036358759.19 yuan, down from 11924234430.10 yuan at the beginning of the year. Non-current assets totaled 16409604656.63 yuan, up from 14143576423.20 yuan at the beginning of the year. Total current liabilities amounted to $5230419177.72, down from $5783007380.66 at the beginning of the year. Total non-current liabilities amounted to $6622225074.44, up from $5599796611.97 at the beginning of the year.
In terms of profitability, basic earnings per share for the reporting period was 0.80 yuan per share, down 40.30% from 1.34 yuan per share in the same period last year. After deducting non-recurring profit and loss, basic earnings per share was 0.72 yuan per share, down 44.62 percent from 1.30 yuan per share in the same period last year. The weighted average return on equity during the reporting period was 9.04%, down 8.87 percentage points from 17.91% in the same period last year. After deducting non-recurring gains and losses, the weighted average return on net assets was 8.08%, down 9.36 percentage points from 17.44% in the same period last year.
On the whole, there is some pressure on the operating condition of China Eastern Logistics in 2023, the operating income and net profit have decreased, and the net cash flow has also decreased. However, the company's net assets and total assets increased, indicating that the company's assets are expanding, and the company's non-current assets and non-current liabilities have increased, reflecting the company's increase in long-term investment and long-term debt. In addition, despite the decline in profitability, the company's basic earnings per share and weighted average return on equity remain at a certain level.
As a financial analyst, I think investors should take full account of the changes in its operating conditions when considering investing in China Eastern Logistics, especially the decline in operating income, net profit and cash flow, as well as the growth of assets and liabilities. At the same time, investors should also pay attention to the company's profitability, including earnings per share and return on net assets and other indicators. In this case, investors should invest cautiously and pay close attention to the company's operating conditions and industry trends in order to make wise investment decisions.
This article only represents the judgment made by the analyst himself or the analyst on the basis of AI analysis, and can not be used as any investment index, nor does it constitute any investment advice. The original intention of this paper is to help investors analyze and judge the capital market data in the most intuitive and fast way and from the most professional perspective.