Revenue and fleet grow while the liquidity is abundant

China Asset Leasing Company Limited (“CALC (TJ)”), a subsidiary of Hong Kong-listed China Aircraft Leasing Group Holdings Limited (HKEx stock code: 01848) recently announced its preliminary interim financial information for the six months ended 30 June 2022 (the “first half of 2022”).

Financial and operation highlights

(1) Robust operating income and steady growth in operating cash flow

• During the first half of 2022, operating income was RMB1.308 billion, up 21.28% year on year.
• During the first half of 2022, operating cash inflow was RMB1.63 billion, up 27.78% year on year.
• In addition, CALC (TJ) saw its total revenue (operating income, other income, investment income and non-operating income) reach RMB1.399 billion for the first half of 2022, up 7.08% from that in the same period last year. Net profit was RMB216 million. The interest coverage ratio was at a healthy level of 3.52 times.

(2) Total monetary fund balance increased significantly with abundant liquidity

• As at 30 June, 2022, total assets exceeded the RMB37 billion level for the first time at RMB37.309 billion, up 17.87% from the beginning of the year.
• As at 30 June 2022, the monetary fund balance was at RMB2.377 billion, up RMB881 million or 58.93% from the beginning of the year.

(3) Own fleet expanded to 101 aircraft, state-owned airlines accounting for 94% of the total clientele

• CALC (TJ)’s own fleet increased by 10 aircraft during the first half of 2022, reaching a total of 101 aircraft by the end of the period.
• All 15 airline customers have rich financial resources, with state-owned airlines led by "Air China, China Eastern Airlines, and China Southern Airlines", etc., accounting for 94% of the total.
• New-generation aircraft, high-quality assets to align with aviation ESG (environment, social and governance) trends.
• Narrow-body aircraft comprised 94% of the total by aircraft count.

Unleashing unique edges in fleet upgrade to create value and adhering to nascent intents

CALC (TJ) has been providing competitive aircraft solutions to airline customers over the years, supporting ongoing development of civil fleets in China. Capitalizing on strong support from shareholders, airline customers, financier partners and others, CALC (TJ) has maintained its leading edge in the industry with its unique full-value chain model and one-stop fleet upgrade services.

The Company is looking forward to providing stable and excellent performance to aircraft asset investors going forward, helping more airlines deliver better operation with professional and high-quality services, and dedicating to the pursuit of "propagating the spirit of serving the country with aviation and accomplishing the goal of strengthening the country with aviation, taking roots in China and serve China” corporate and social responsibilities.