Leidi.com Lei Jianping September 30
Air China Cargo Co., Ltd. (referred to as "Air China Cargo") recently passed its IPO and is preparing to be listed on the main board of the Shenzhen Stock Exchange.
Air China Cargo plans to raise 6.5 billion yuan, of which 5.558 billion yuan will be used to introduce aircraft and purchase spare engines, 535 million yuan will be used to improve comprehensive logistics capabilities, and 414 million yuan will be used for informatization and digital construction.
Air China Cargo plans to issue 16.87% of its shares this time. Based on this calculation, Air China Cargo’s valuation will reach 38.53 billion yuan.
Net profit for the first half of the year was 2.1 billion
Air China Cargo carries AVIC Group's profound accumulation of air transportation development and provides solutions for air cargo transportation needs. It has now developed into one of the major domestic air logistics service providers.
Air China Cargo has established a global freight security system covering Shanghai, Beijing, Chengdu, Chongqing, Zhengzhou, Hangzhou, Chicago, Madrid, Liege, Frankfurt, Amsterdam, Los Angeles, New York, Tokyo, Osaka and other cities to provide services to customers.
The prospectus shows that Air China Cargo’s revenue in 2020, 2021, and 2022 will be 18.25 billion, 23.958 billion, and 22.785 billion yuan respectively; net profits will be 3.292 billion, 4.305 billion, and 3.084 billion yuan respectively; net profits after non-deductions will be 3.223 billion yuan respectively. , 4.251 billion yuan, 3.043 billion yuan.
Air China Cargo's revenue in the first half of 2023 was 6.054 billion yuan, a decrease of 55.3% from the same period last year; net profit was 473 million yuan, a decrease of 77.43% from 2.1 billion yuan in the same period last year.
Cathay Pacific Cargo and Cainiao Supply Chain are shareholders
On November 9, 2020, China Aviation Capital, Cathay Pacific Cargo, Langxing Company, Cainiao Supply Chain, Shenzhen International, Hangzhou Double Hundred, Tianjin Yuchi and Air China Cargo Co., Ltd. signed the "Capital Increase Agreement on China International Cargo Co., Ltd.".
It is agreed that the registered capital of Air China Cargo Co., Ltd. will be increased to 10.69 billion, Cainiao Supply Chain will invest 2.348 billion, the company's registered capital will be subscribed to 1,603,429,100 yuan, Shenzhen International will invest 1,565 million yuan, the company's registered capital will be subscribed to 1,068,952,700 yuan, and Hangzhou Shuangbai will contribute 783 million yuan. The company's registered capital was subscribed to 534.4764 million yuan, Tianjin Yuchi invested 157 million yuan, and the company's registered capital was subscribed to 106.8953 million yuan.
This capital increase was publicly listed on the Beijing Equity Exchange, and the corresponding limited equity of Air China Cargo has been evaluated with an estimated value of 9.076 billion yuan. The evaluation results have been filed with AVIC Group.
The controlling shareholder of Air China Cargo is China Aviation Capital, and the actual controller is AVIC Group.
As of the signing date of this prospectus, China Aviation Capital holds 45% of the company's shares and is the company's controlling shareholder; AVIC Group holds 100% of the shares of China Aviation Capital and indirectly holds 45% of the company's shares through China Aviation Capital, which is the company's actual shareholder. Controller.
Cathay Cargo holds 12.24% of the shares, Langxing Company holds 11.75%, Cainiao Supply Chain holds 15%, Shenzhen International holds 10%, Hangzhou Shuangbai holds 5%, and Tianjin Yuchi holds 1%. .
After the IPO, China Aviation Capital holds 37.41% of the shares, Cathay Pacific Cargo holds 10.18%, Langxing holds 9.77%, Cainiao Supply Chain holds 12.47%, Shenzhen International holds 8.31%, and Hangzhou Double Hundred holds The shareholding is 4.16%, and Tianjin Yuchi holds 0.83%.
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