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Spring Airlines (601021) investor relations material
Spring Airlines Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue rose 8.47% YoY to RMB 7.02bn, while net income fell 31.37% to RMB 800.8m as higher jet fuel costs reduced gross margin.
9M revenue increased 15.38% YoY to RMB 19.35bn; net income declined 21.08% to RMB 1.84bn.
Financial highlights
Q3 profit before tax was RMB 1.03bn, down 33.03% YoY; adjusted net income, excluding non-recurring items, was RMB 790.6m, down 32.13%.
9M adjusted net income, excluding non-recurring items, was RMB 1.82bn, down 21.46% YoY.
9M operating income was RMB 2.39bn versus RMB 3.09bn in 2025; operating costs totaled RMB 17.90bn versus RMB 14.62bn.
Key financial ratios and metrics
Basic and diluted EPS were RMB 0.84 in Q3, down 30.00% YoY; 9M EPS was RMB 1.92, down 20.00%.
Weighted average ROE was 4.46% for Q3 and 10.06% for 9M, down 2.04 and 2.87 percentage points YoY, respectively.
Operating cash flow was RMB 6.15bn for 9M, up 10.94% YoY.
Total assets were RMB 52.41bn at Sept. 30, up 11.81% from year-end 2025; parent equity was RMB 18.13bn, down 0.19%.
- Revenue up 19.7%, net profit down 10.8% as fuel costs surge; payout exceeds net profit.601021
Q2 2026 - Net profit jumped 45.15% year-over-year on strong revenue and cash flow growth.601021
Q1 2026 - Revenue up 6.01% in Q3 2025, but net profit down 6.17% year-over-year.601021
Q3 2025 - 2024 revenue up 11.5%, net profit up 0.7%, with record load factor and strong dividend.601021
Q4 2024 - Revenue up, profit down on high base; strong load factors, robust payout, fleet expansion.601021
Q2 2025 - Q3 profit dropped 32% year-over-year despite revenue growth, mainly due to lower gross margin.601021
Q3 2024 - Net profit surged 62% year-over-year as traffic and load factor hit record highs.601021
H1 2024 - Revenue up, but profit and cash flow down as costs rise in Q1 2025.601021
Q1 2025
Next Spring Airlines earnings date
Next Spring Airlines earnings date
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