Hainan Airlines Holding (600221) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 18.47 billion, up 4.95% year-over-year, with net profit attributable to shareholders at RMB 1.73 billion, a 533.63% increase from Q1 2025.

• Operating cash flow improved 43.18% year-over-year to RMB 4.27 billion, reflecting robust business recovery and operational efficiency.

• The civil aviation market continued to recover, and the company enhanced its route network and operational quality, contributing to profit growth.

Financial highlights

• Total assets at Q1 2026 end were RMB 150.17 billion, down 1.39% from year-end 2025.

• Shareholders’ equity attributable to listed company shareholders rose 32.09% to RMB 6.95 billion.

• Basic and diluted EPS were RMB 0.0399, up 533.33% year-over-year.

• Gross margin improved as operating costs grew slower than revenue.

• Non-recurring gains totaled RMB 191 million, mainly from asset disposals and government subsidies.

Outlook and guidance

• Management expects continued improvement in the civil aviation market and plans to further optimize the route network and operational efficiency.