ST HNA chairman Cheng Yong: sooner or later the industry's inflection point will come

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Our reporter Li Yuzheng, a trainee reporter Zhang Junbing, on September 2nd, ST HNA announced that he received the "Administrative Penalty Decision" by the Securities Regulatory Commission. The boots landed, and the company applied for another step. What is more concerned about the market is that in the first half of this year, how long can ST HNA last after being transformed? Is there still the risk of delisting? Does the controlling shareholder Liaoning Fangda Group (hereinafter referred to as "Fangda") will still support HNA in the future? Is the operation of Fang Dajin's business improvement? With these questions, the reporter of the Securities Daily interviewed the company's chairman Cheng Yong. When will the industry dawn? Affected by factors such as the impact of the epidemic and rising oil prices, the aviation industry still faces a more severe development situation this year. The four major airlines lost more than 10 billion yuan in the first half of the year. ST HNA reported in the 2022 semi -annual report that the company achieved operating income of 11.076 billion yuan in the first half of the year, a year -on -year decrease of 39.59%; due to net profit loss of 12.837 billion yuan, the net assets attributable to shareholders of listed companies were 4.22 billion yuan, and the company's asset -liability ratio reached 101.91 %. In order to solve the company's operating cash flow and other problems, ST HNA released a 10 billion yuan fixed increase plan in August this year. The limited company subscribed in one time in cash. The fixed increase has undoubtedly given the company's internal and external markets with greater confidence, and the company's stock price has since obtained three daily limit. Although Fangda's blood transfusion can help the company solve the problem to a certain extent, how does ST HNA survive in the face of the overall dilemma of the aviation industry? Cheng Yong said frankly: "Since April of this year, the traffic of civil aviation has been recovering in a continuous recovery, and it has continued to improve. We always believe that the industry's inflection point will come sooner or later. The influence of various aspects of factors must still be uncertain. "As an old civil aviation in the 40 years, Cheng Yong had a wealth of work experience in northern China and Southern China Air Group Corporation. After retiring from China Southern Airlines, he took the heavy responsibility of HNA chairman in June this year. Cheng Yong said that he is willing to uphold the difficulties and new teams to face difficulties and strive to lead the company to achieve profit at an early date. "Faced with the huge challenges and difficulties of the entire civil aviation industry, the government has issued a series of rescue policies, including financial credit, route subsidies, tax reduction and other policies and measures. The dividend amount of various types of bailout policies exceeds 1.5 billion yuan. Since July, with the advent of the summer season and the situation of the epidemic prevention and control, the company’s flight volume and unit efficiency have been significantly improved. The average level of National Airlines. At the same time, as of now, the company has resumed/newly opened nine round-trip international passenger routes including Beijing-Brussels, Shenzhen-Vancouver, Chongqing-Rome, and the income of international routes has been greatly improved. "Cheng Yongru said. Two months ago, the three major airlines collectively announced that a total of 37.257 billion US dollars (now about RMB 257.1 billion) purchased 292 aircraft, which is the first time that China's civil aviation industry has announced a large -scale passenger aircraft order. At the ST HNA's work conference in mid -2022, the company also stated that after the implementation of the new team's specific investigation and implementation in the second half of the year, it will implement plans to introduce aircraft. In this regard, Cheng Yong believes that the company's primary task in the fleet is to restore the parking capacity as soon as possible. It is expected that during the "14th Five -Year Plan" period, the company's fleet growth rate will maintain the level of the same industry. How to create a new HNA? In addition to changes in the external market, how to save ST HNA's "Fangda Department" method theory that has made many companies from returning to life has also become the focus of market attention after Fangda entered the company in December last year. "At present, the daily cost control model implemented by the company plays a very important role in achieving refined management of the company, which also lays a solid foundation for the company's subsequent" profit first "goal." Cheng Yongru said. According to Cheng Yong, ST HNA is actively integrated into the Fang Daxin system and new mechanism, deepen the leadership of party building, revisions and improve the rules and regulations, and follow Fangda Da Da's "business enterprises must be beneficial to the government, the benefits of the enterprise, the benefits of employees, and the benefits of passengers. "The corporate values ​​promote the company's benign and sustainable development. In terms of cost reduction and efficiency and efficiency, the company has in -depth leakage to the first -line dumping. Through self -inspection and rectification, revenue is achieved, and excellent cases of cost reduction and efficiency increase are incentives. In terms of employee benefits, the company has resumed the original welfare project of employees. At the same time, it has added special benefits such as free work meals for employees, "honoring parents' gold", and funding for employee family medical expenses. Regarding the recent frequent changes in the company's management, Cheng Yong said that it is mainly based on the needs of production management. First, some senior executives were punished by regulatory agencies before, and they will not continue to serve as executives in accordance with regulations; second, the company has introduced some executives who have worked in the three major airlines for a long time. Its rich management and practical experience will further enhance the company Production and operation level; Third, most executives selected this time are outstanding talents growing in the company, and they have the experience and excellent management capabilities and experience of multiple key positions. "After this adjustment, the management structure of the new HNA team will be more reasonable, the team is younger, and the personnel knowledge will be more professional. The new HNA team will strive to return the strong support of the company from all walks of life in the society." Cheng Yongru said. At present, ST HNA is actively preparing to apply for a cap.

Cheng Yong said that General Fang continued to give the company many aspects of support, and the company would continue to use safety production operation as the cornerstone to continue to improve service quality.He believes that the company will get rid of the predicament as soon as possible, realize healthy and stable development, with profit -oriented, and strive to create more value for investors.Recommended reading

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