On 19 Aug 2008, the company and Shanghai Airlines Co., Ltd. both disclosed performance reports for 1H 2008, which showed average increases in major business indicators.

In 1H 2008, Shanghai Airlines Co., Ltd. achieved revenue of RMB 7.03 bln, up 26% YOY, net profit attributable to shareholders of RMB 23.4 mln and EPS of RMB 0.022, while the company saw an 8.9% YOY increase in revenue to RMB 27.45 bln and a 368% YOY jump in net profit to RMB 838 mln as well as EPS of RMB 0.19.

However, both reports showed a sharp drop in share holdings by fund companies and a big increase in the number of shareholders for both companies. Among the top 10 shareholders of Shanghai Airlines, all four fund companies reduced their stakes. As of 30 Jun 2008, the top 10 shareholders held a total of only 400 mln shares, decreasing by 35 mln when compared with the end of 1Q 2008.

As for the company, in 1H 2008, two fund companies dropped out of the top 10 and its second-largest holder of tradable shares, also a fund company, only holds 11 mln shares of the company. As of 30 Jun 2008, the total number of shareholders was 362,000, increasing by 50%, based on 229,000 shareholders as of the end of 1Q 2008.

The company has made projections for its 2H 2008, expecting to face harder times in the airline industry as a whole.

Source: Securities Times

Date: 19 Aug 2008

CN01/VL/LZ/BT/KM