Juneyao Airlines (603885) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥11.07 billion, up 1.02% year-over-year; net profit attributable to shareholders was ¥505.49 million, up 3.29% year-over-year.

• Operating cash flow increased 13.90% to ¥3.11 billion; total assets grew 4.60% to ¥50.00 billion.

• The company continued to expand its international network, with international passenger and cargo volumes showing strong growth.

• The fleet stood at 130 aircraft with an average age of 7.61 years, supporting high utilization and cost efficiency.

Financial highlights

• Operating income: ¥11.07 billion (+1.02% YoY); net profit: ¥505.49 million (+3.29% YoY).

• Operating cash flow: ¥3.11 billion (+13.90% YoY); net assets: ¥9.15 billion (+2.86% from year-end 2024).

• Basic and diluted EPS: ¥0.23 (+4.55% YoY); ROE: 5.54%.

• Adjusted net profit (excluding non-recurring items): ¥407.60 million (-14.27% YoY).

• Non-recurring gains: ¥97.89 million, mainly from government subsidies and asset disposals.

Outlook and guidance

• The company will continue to focus on international expansion, digital transformation, and cost control.

• Emphasis on optimizing the route network, improving service quality, and leveraging Shanghai and Guangzhou as core hubs.

• Ongoing risk management in response to fuel price volatility, exchange rate fluctuations, and macroeconomic uncertainties.