Bohai Leasing (000415) Q1 2026 earnings summary

Executive summary

• Net profit attributable to shareholders rose 35.57% year-over-year to ¥907.52 million, despite a 47.71% drop in revenue to ¥8.95 billion, mainly due to fewer aircraft sales and the exclusion of GSCL from consolidation.

• Profit growth was driven by robust global air passenger demand, efficient fleet operations, higher aircraft leasing profits, and reduced financial expenses.

Financial highlights

• Revenue decreased 47.71% year-over-year, primarily due to lower aircraft sales and the sale of GSCL at the end of last year.

• Net profit attributable to shareholders increased 35.57% year-over-year; net profit excluding non-recurring items surged 105.19%.

• Operating cash flow rose 105.19% year-over-year to ¥4.71 billion.

• Total assets at quarter-end were ¥251.66 billion, up 0.72% from year-end; shareholders’ equity increased 1.43%.

Outlook and guidance

• The company initiated a valuation enhancement plan and share repurchase program to boost investment value and shareholder returns, aiming for high-quality development.