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香港交易及結算所有限公司及香港聯合交易所有限公司對本文件的內容概不負責, 對其準確性或完整性亦不發表任何聲明, 並明確表示, 概不對因本文件全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任於其他市場發佈的公告本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出茲載列中國南方航空股份有限公司在上海證券交易所網站刊登的根據中國會計準則編制的中國南方航空股份有限公司 2015 年年度報告, 僅供參閱承董事會命中國南方航空股份有限公司公司秘書謝兵中華人民共和國, 廣州 2016 年 3 月 30 日於本公告日期, 董事包括非執行董事袁新安及楊麗華 ; 執行董事譚萬庚張子芳及李韶彬 ; 以及獨立非執行董事寧向東劉長樂譚勁松郭爲及焦樹閣

China Southern Airlines Company Limited 中國南方航空股份有限公司給您想要的世界 2015 年度報告 2015 廣州之路全球航空樞紐 www.csair.com 南航手機客戶端南航微信服務號年度報告 H 股份代號: 1055 A 股份代號: 600029 ADR 代號: ZNH

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2015, 20151231,787 777 737,380 330 320 667,, 20151231,2,500 38,261,1,057, 179 2015,1.1,37,, 15 6 ; 25, 67, 004

: : : China Southern Airlines Company Limited : CSN : : : : +86-20-86124462 : +86-20-86659040 : ir@csair.com : 278 : : 1517 : 233203 : 278 : 959B1 : www.csair.com : webmaster@csair.com : : : 二零一五年年度報告 005

(A): A: www.sse.com.cn H: www.hkexnews.hk : A: A: A: 600029 A: 16636 H: H: H: 01055 H: 18317M N: N: China Southern Air N: ZNH N: BNY Mellon Shareowner Services P.O.Box 30170, College Station, TX 77842-3170, USA : : : () : 2022 11 : : : 1022 006

,,;,(), ( :),,,1,057,179 (Canton Route), 2015,,,850 4.4 625,13.7% 11.1%5.2%,58(30 23 5) 3(1 2) 11, 667,55,,16,436,"" (1),, 2015,, ; 48%,;A380 ;,,2015, (2),,,,,,,,,,, (3),, 2015,;,;, 二零一五年年度報告 007

BOARDING PASS 觸手可及 APP, 008

CHINA SOUTHERN AIRLINES 中国南方航空股份有限公司二零一五年年度報告 009

: : 2015 2014 ()(%) 2013 111,467 108,313 2.91 98,130 3,851 1,773 117.20 1,895 3,315 1,421 133.29 1,834 25,713 15,116 70.10 11,128 : : 1231 1231 2015 2014 ()(%) 2013 38,966 35,554 9.60 34,139 186,250 189,697 (1.82) 165,145 9,818 9,818 9,818 : 2015 2014 ()(%) 2013 () 0.39 0.18 116.67 0.19 () 0.39 0.18 116.67 0.19 () 0.34 0.14 142.86 0.19 (%) 10.33 5.09 102.95 5.67 (%) 8.89 4.08 117.89 5.48 010

營業收入 ( 人民幣百萬元 ) 歸屬於上市公司股東的淨利潤 ( 人民幣百萬元 ) 120,000 111,467 108,313 101,483 98,130 100,000 92,707 80,000 6,000 5,000 4,000 5,075 3,851 60,000 3,000 2,628 40,000 2,000 1,895 1,773 20,000 1,000 0 2011 2012 2013 2014 2015 0 2011 2012 2013 2014 2015 總資產 ( 人民幣百萬元 ) 基本每股收益 ( 人民幣元股 ) 200,000 175,000 150,000 125,000 100,000 75,000 50,000 25,000 0 129,260 142,494 2011 2012 165,145 2013 189,697 2014 186,250 2015 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0.0 0.52 0.27 2011 2012 0.19 0.18 2013 2014 0.39 2015 二零一五年年度報告 011

() : : 3,851 1,773 38,966 35,554 : 1 1 (30) (31) (222) (28) 101 323 23 (2) (2) 4 6 55 9 (24) (79) 53 1 28 (25) 3,736 1,777 39,045 35,748 () 1,,, 2,,,,, 3,201011,,,,, 4,,,,,,,,, 012

2015 (1-3) (4-6) : (7-9) : (10-12) 27,718 25,609 32,001 26,139 1,903 1,579 1,174 (805) 1,832 1,482 1,079 (1,078) 5,441 5,794 8,246 6,232 : : 2015 () 2014 2013 270 (48)(49) 267 (78) 2 2 623 (48)(49) 236 153 (135) (27) 3 (222) (126) (19) 536 352 61 : : 104 104 104 104 二零一五年年度報告 013

1231 () 2015 2014 % (RPK)() 138,769.05 127,681.88 8.68 3,526.99 3,214.52 9.72 47,291.67 35,732.78 32.35 : 189,587.71 166,629.18 13.78 (RTK)() 13,916.26 12,916.60 7.74 331.50 300.65 10.26 8,140.24 6,562.71 24.04 : 22,388.00 19,779.96 13.19 (RTK) () 12,253.49 11,287.71 8.56 309.91 282.65 9.64 4,162.66 3,154.04 31.98 : 16,726.06 14,724.40 13.59 (RTK) () 1,662.78 1,628.89 2.08 21.59 18.00 19.94 3,977.58 3,408.66 16.69 : 5,661.95 5,055.55 11.99 () 95,121.91 89,363.18 6.44 2,571.15 2,385.37 7.79 11,728.96 9,170.47 27.90 : 109,422.02 100,919.02 8.43 收費客公里 ( 百萬 ) 收費噸公里 ( 百萬 ) 200,000 150,000 122,344 135,535 148,417 166,629 189,588 25,000 20,000 15,000 14,461 16,160 17,469 19,780 22,388 100,000 10,000 50,000 5,000 0 2011 2012 2013 2014 2015 0 2011 2012 2013 2014 2015 014

1231 () 2015 2014 % () 1,030.10 1,014.90 1.50 19.18 16.40 16.95 462.27 401.95 15.01 : 1,511.55 1,433.25 5.46 (ASK)() 172,104.99 160,482.40 7.24 4,762.25 4,379.07 8.75 58,749.02 44,945.99 30.71 : 235,616.26 209,807.46 12.30 (ATK)() 20,055.09 18,640.00 7.59 562.65 497.79 13.03 11,586.92 9,315.94 24.38 : 32,204.66 28,453.73 13.18 (ATK) () 15,489.45 14,443.42 7.24 428.60 394.12 8.75 5,287.41 4,045.14 30.71 : 21,205.46 18,882.68 12.30 (ATK) () 4,565.65 4,196.59 8.79 134.05 103.67 29.30 6,299.51 5,270.80 19.52 : 10,999.21 9,571.06 14.92 可用座位公里 ( 百萬 ) 可用噸公里 ( 百萬 ) 250,000 200,000 150,000 151,064 169,569 186,800 209,807 235,616 35,000 30,000 25,000 20,000 20,795 23,065 24,952 28,454 32,205 100,000 15,000 10,000 50,000 5,000 0 2011 2012 2013 2014 2015 0 2011 2012 2013 2014 2015 二零一五年年度報告 015

1231 () 2015 2014 % (RPK/ASK)(%) 80.60 79.60 1.26 74.10 73.40 0.95 80.50 79.50 1.26 : 80.50 79.40 1.39 (RTK/ATK)(%) 69.40 69.30 0.14 58.90 60.40 (2.48) 70.30 70.40 (0.14) : 69.50 69.50 () () 0.55 0.60 (8.33) 0.71 0.78 (8.97) 0.45 0.50 (10.00) : 0.53 0.58 (8.62) () 1.23 1.31 (6.11) 4.49 5.56 (19.24) 1.19 1.45 (17.93) : 1.21 1.42 (14.79) () 5.65 6.10 (7.38) 7.89 8.64 (8.68) 3.18 3.50 (9.14) : 4.78 5.27 (9.30) () () 0.55 0.54 1.85 0.61 0.63 (3.17) 0.35 0.39 (10.26) : 0.50 0.51 (1.96) 016

6.890 1231 () 2015 2014 % () 1.13 1.21 (6.61) 3.89 4.39 (11.39) 1.04 1.11 (6.31) : 1.08 1.16 (6.90) () 5.61 5.48 2.37 6.69 7.00 (4.43) 2.52 2.69 (6.32) : 4.50 4.58 (1.75) () 2.80 3.30 (15.15) () 1,408.50 1,275.57 10.42 () 1,770.25 1,652.46 7.13 44.79 41.64 7.56 422.69 332.06 27.29 : 2,237.73 2,026.16 10.44 () 824.53 791.45 4.18 20.66 19.86 4.03 91.56 72.76 25.84 : 936.75 884.07 5.96 二零一五年年度報告 017

20151231,: : A380 0 2 3 5 A330-300 8 10 1 4 19 A330-200 2 11 3 16 A321 22 25 32 4 79 A320 40 43 45 6 128 A319 29 1 13 43 B787 2 14 0 4 16 B777-300ER 0 7 0 2 7 B777-200 0 0 4 4 B757-200 0 0 17 2 17 B737-800 94 63 83 33 1 240 B737-700 9 11 30 50 B737-300 0 0 3 3 EMB190 20 4 2 1 26 226 191 236 54 3 653 B747-400F 0 0 2 2 B777-200F 0 7 5 4 12 0 7 7 4 0 14 226 198 243 58 3 667 20151231,: () 440 146 14 10 18 13 26 :, 018

2015 年度飛機引進構成 ( 架 ) 243 (36.4%) 198 (29.7%) 2015 226 (33.9%) 自購融資租賃經營租賃 2015 年度客機構成 67 (10.3%) 2015 586 (89.7%) 寬體機窄體機 2015 年度本集團機隊分布 ( 架 ) 13 (1.9%) 18 (2.7%) 10 (1.5%) 26 (3.9%) 14 (2.1%) 440 (66.0%) 146 (21.9%) 南方航空汕頭航空貴州航空河南航空廈門航空珠海航空重慶航空二零一五年年度報告 019

2014-2015 年度機隊引進結構 ( 架 ) 250 200 226 197 198 186 229 243 150 100 50 0 經營租賃融資租賃自購飛機 2014 2015 2014-2015 年度機隊結構 ( 架 ) 700 560 602 653 420 280 140 0 10 貨機 14 客機 2014 2015 2014-2015 年度客機結構 ( 架 ) 600 480 545 586 360 240 120 57 67 0 寬體機窄體機 2014 2015 020

20151231,: () () A380 3.6 506 A330-300 4.1 275/284 A330-200 6.6 218/258 A321 6.3 179 A320 6.8 152 A319 9.3 122/138 B787 1.6 228/237 B777-300ER 1.1 309 B777-200 19.5 360 B757-200 17.8 174/180/192/196/197 B737-800 4.8 159/161/164/170 B737-700 9.4 120/128 B737-300 17.8 126 EMB190 3.5 98 B747-400F 13.4 / B777-200F 3.3 / 6.3 / 二零一五年年度報告 021

2016 2018,: : 2015 2016 2017 2018 A380 5 5 5 5 A330-300 19 3 22 5 27 5 32 A330-200 16 16 16 16 A321 79 10 89 18 107 12 119 A320 128 12 140 5 145 3 148 A319 43 6 37 37 37 B787 16 16 16 16 B777-300ER 7 3 10 10 10 B777-200 4 4 4 4 B757-200 17 7 10 5 5 1 4 B737-800 240 29 269 43 312 43 355 B737-700 50 5 45 45 45 B737-300 3 3 3 0 0 EMB190 26 1 27 1 28 1 29 653 58 18 693 72 8 757 64 1 820 B747-400F 2 2 2 2 B777-200F 12 12 12 12 14 0 0 14 0 0 14 0 0 14 667 58 18 707 72 8 771 64 1 834 022

五年期末飛機數量變化 ( 預測 ) 五年期末飛機數量增長率變化 ( 預測 ) (%) 1000 800 600 400 612 667 707 771 834 16 14 12 10 8 6 9.09 8.99 6.00 9.05 8.17 200 4 2 0 2014 2015 2016 2017 2018 0 2014 2015 2016 2017 2018 20151231,: : 飛機期期期末 S76 0 0 11 2 13 S92A 0 0 9 1 3 10 0 0 20 3 3 0 23 2016 2018: : 2015 2016 2017 2018 飛機期末數期末預測數期末預測數期末預測數 S76 13 13 13 13 S92A 10 1 9 9 9 23 0 1 22 0 0 22 0 0 22 二零一五年年度報告 023

2 25 8:01, A380 CZ328 3 326,, 4 425 8.1,,,1,200 2015 3 3 6 315 402015 6.6, 1,000 329,, 70 620 A380, A380 024

6 622 -,,, 70, 8 820,,, 12 12 16, () () 7 8 12 12 7 16 85 1216 -, 1231 2258, CZ3582 17,, -,, 2015, 二零一五年年度報告 025

2015,,,,,,,,,,,,,,,,,:,,, 220,1,572,10,166, 1621,,,,216, 10,000,,5,000 (HCC),, 1,572 10,000 026

二零一五年年度報告 027

,,,B777-300ER B78758,B7573,110B737NGB737MAX 13B7573B733,10A330-300, 667,, 667,,,,,,,,,, 028

+20% 9,093,,, ;,, 80%,20%, ;,,,9,093, 805,APP217,,, +,,, 11%, 27%,,,,, 11 二零一五年年度報告 029

,,, ;, ;,;,,,,,,,,,,,,,, 030

, 420,2,500,,,, 28,,,,,;,;,;,,, 30 2,500 二零一五年年度報告 031

,,,,,,,,,8000, 032

3,851 2015,111,467, 3,851 2015 785,9,817,567,000, 100.8() 2015 785 二零一五年年度報告 033

Tan Wan Geng President,111,467, 3,154,2.91%;22,388.01,13.19%;109.4, 8.43%;80.5%,1.1; 9.63,0.05,100,238, 91.63%,3,093, 3.18%;189,587.70,13.78%; 0.53,8.62%,6,861, 6.27%,322, 4.48%;5,661.94,11.99%; 1.21,14.79% 034

,91,382,3,769,3.96% 90,111,3,874,4.12% 26,274,30.36%,,7,081,10.90%;2,754, 6.66% 7,826,247.67%,,,5,702, 276,3,851,1,773 2,078,117.20%,25,713,70.10%; 8,271,21.29%;30,027,1,061.14% 20151231,186,250,1.82%,14,418,7.74%,13,422 171,832, 92.26%,9,975, 20151231,136,677,6.01%,65,536,47.95%,11,450 71,141, 52.05%,20,196 20151231,38,966,3,412,;49,573, 5,299 20151231,73.38%,3.28 () : : (%) 111,467 108,313 2.91 91,382 95,151 (3.96) 7,081 7,947 (10.90) 2,754 2,582 6.66 7,826 2,251 247.67 25,713 15,116 70.10 (8,271) (6,819) 21.29 (30,027) (2,586) 1061.14 110.98 75.98 46.06 : : :, : : 二零一五年年度報告 035

() 1 (%) ()(%) : ()(%) : ()(%) 100,238 / / 3.18 / / 6,861 / / (4.48) / / 2,301 / / 7.78 / / 109,400 90,111 17.63 2.76 (4.12) 50.43 2 (%) ()(%) : ()(%) : ()(%) 80,914 / / / / 2,614 / / 0.65 / / 25,872 / / 12.72 / / 109,400 90,111 17.63 2.76 (4.12) 50.43 : 3, 4 : : (%) 1 60 0.05 2 58 0.05 3 47 0.04 4 12 0.01 5 10 0.01 187 0.16 036

5 (%) : (%) : (%) 26,274 28.75 37,728 39.65 (30.36) 13,891 15.20 12,121 12.74 14.60 11,361 12.43 10,346 10.87 9.81 11,510 12.60 10,496 11.03 9.66 7,326 8.02 5,451 5.73 34.40 6,151 6.73 5,376 5.65 14.42 2,680 2.93 2,497 2.62 7.33 10,918 11.95 9,970 10.48 9.51 90,111 98.61 93,985 98.77 (4.12) 1,271 1.39 1,166 1.23 9.01 91,382 100.00 95,151 100.00 (3.96) : : : : : 6 (%) : (%) : (%) 90,111 98.61 93,985 98.77 (4.12) 1,271 1.39 1,166 1.23 9.01 91,382 100.00 95,151 100 (3.96) 主營業務成本構成 12.11% 2.97% 6.83% 8.13% 12.77% 29.16% 航油成本折舊費用飛機發動機維修費餐食機供品費用 12.61% 15.42% 職工薪酬費用起降費用經營租賃費其他二零一五年年度報告 037

() 7,:,13,886,15.20%; 25,916,28.36% : : (%) 13,886 15.20 8,107 8.87 1,733 1.90 1,122 1.23 1,068 1.16 25,916 28.36,7,081,201410.90%, 7,826,2,251,,5,702, 276 () () : : 27.34 83.64 110.98 (%) 0.10 592 (%) 0.68 (%) 75.36,25,713,10,597 70.10%;8,271,1,452,21.29%,;30,027, 27,441,1,061.14%,,2,624( 2014:405),, 038

1 (%) : : (%) (%) 5,444 2.92 18,306 9.65 (70.26) 142,454 76.49 134,001 70.64 6.31 19,483 10.46 7,243 3.82 168.99 12,884 6.92 42,066 22.18 (69.37) 49,408 26.53 43,919 23.15 12.50 : : : : : 2, : 83,427 1(1)19,074;1 2(2)22,359 ;23(3) 18,898;323,096 34 2,550 36,109 1(1)6,560;1 2(2)5,654; 23(3)4,965 ;318,930 2015123112,,20151231,2016 173,739,131,021 二零一五年年度報告 039

,,850 4.4 625,13.7% 11.1%5.2%,,, 2016 363,10% 20164.85, 10.7%,2016 () 1 2015128,, 626,666,667 4% 201622, 100%, 40,057.04 100% 2 20151217, 80B737NG/MAX 7B757 5 6B7574 3B733 4, 80B737NG/MAX,13B7579 3B7334 20151217, 30B737MAX, 30B737MAX 20151223,(AIRBUS S.A.S)( ) 10A330, 10A330-300 3 () : 000099 9 0.57 43 2 : 601328 16 0.013 61 (2) 25 / 104 / / 040

4 (%) : : () 246 / 33.98 261 46 (6) 246 / / 261 46 (6) / / 5 (1), (2), 6, 20151217, 7B757 5 6B7574 3B733 4, 80B737NG/MAX, 13B7579 3B7334 1 : () (%) () (%) (RTK) (%) (RPK) (%) 24,870.0 22.7 228,383.7 15.1 346,946.6 15.5 3,521,650.0.9 18.6 2,921.1 2.7 21,844.0 1.4 34,061.2 1.5 351,650.1 1.9 1,675.0 1.5 12,375.7 0.8 25,512.3 1.1 266,100.0 1.4 2,871.8 2.6 23,993.3 1.6 41,672.5 1.8 430,080.3 2.3 2,644.5 2.4 17,931.7 1.2 31,340.6 1.4 328,275.1 1.7 4,620.1 4.2 44,379.5 2.9 63,971.2 2.9 654,107.5 3.5 : 2 (1) 1984725,50, 55%,34%11% 20151231,( )146, ( )34.6,15.1%;2487.0,11.7%;22.8,1.1%;75.8%, 0.9,64.5%,1.2 2015,19,965,12.02%;16,208,5.16%;1,276,68.34% 20151231, 38,228,14,635 二零一五年年度報告 041

(2) 19937,2.8, 60%,40% 20151231,14,3.4,3.6%;292.1,5.7%;2.2, 2.6%;79.2%,0.6;72.5%,0.7 2015,2,201,13.41%;1,742,14.65%;230,28.49% 20151231, 1,419,1,041 (3) 19955,2.5, 60%,40% 20151231,10,2.6,5.9% ;167.4,5.9% ;1.2, 4.4% ;80.6%,4.9 ;72%,3.4 2015,1,439,4.07%;1,136, 10.76%;166,95.29% 20151231, 993,706 (4) 199111,6.5, 60%,()40% 20151231,18,4.1,16.8%;287.1,10.4%;2.4, 11.3%;78.8%,1.4;70.4%,0.3 2015,2,373,3.22%;1,883, 0.16%;247,50.61% 20151231, 1,784,1,407 (5) 20075,12.0, 60%,()40% 20151231,13,3.1,4.3%;264.4,4.9%;1.8, 9.9%;83.8%,1;77.2%,2.3 2015,1,769,5.90%;1,488, 10.09%;145,79.01% 20151231, 1,358,1,025 042

(6) 20139,60.0, 60%,40% 20151231,26,6.4,6.8%;462,5.2%;4.4, 6.8%;80%,0.5;72.9%,0.8 2015,3,755,524.79%;3,034,444.70%;290,4,933.33% 20151231, 4,647,4,285 3 () (%) ( ) ( ) ( ) ( ) 65,000,000 50 3,062 1,642 2,173 160 58,444,760 51 1,874 1,109 430 55 724,330,000 21.09 12.89 6,678 1,024 229 137 1,000,000,000 39 23,628 2,711 17,600 839 200,000,000 40 904 773 365 110 153,300,000 45 195 162 111 9 :,, 二零一五年年度報告 043

,, 9.6% 10.4%2.3%,,, 29,,,: 1 2020,93.2% 89% 95% 92%;,7,0.47 2,, 15%,, 3, 30%,,,, 044

: :,,,,,,, :,,,,,,,,1,000 1.6 200,1,800 2016,,,,,,,,,,, : 1,, ;,,, 2016, 2,, 201658,18, 10.6%, () 5.2%25.0% 二零一五年年度報告 045

3,,, ;,, 4,;,;,;, 5,,,,;,;, ;,, 6,;,;,,, 046

7,; ;,, +,, 8,;,,,, ;,,;, 二零一五年年度報告 047

(),,,,,, 048

(),,,,,,,, (),,,,,,, 二零一五年年度報告 049

(),,,,,,,, 2009, 050

2015 年度美元兌人民幣中間價 6.5 6.4533 6.4 6.3381 6.3675 6.3492 6.3706 6.3 6.2 6.2176 6.2518 6.2386 6.2009 6.2033 6.2052 6.2083 6.1 6.0 1 月 2 月 3 月 4 月 5 月 6 月 7 月 8 月 9 月 10 月 11 月 12 月 2015 年布倫特原油期貨價格 70 60 50 49.76 58.80 56.94 61.14 65.61 63.75 56.76 48.21 48.54 49.29 45.93 40 38.90 30 20 10 0 1 月 2 月 3 月 4 月 5 月 6 月 7 月 8 月 9 月 10 月 11 月 12 月 : ;(),,6.2%,6.20466.4921,,201512 31()1%,() 442,,,10%,2,627 二零一五年年度報告 051

BOARDING PASS 暢遊隨意, 052

CHINA SOUTHERN AIRLINES 中国南方航空股份有限公司二零一五年年度報告 053

1 20131242013,, : : :,,, : :,,( ) (10%),, :,, :,,,,,,,,,,, 2 () : 10 () 10 () () 10 () () () () (%) 2015 0 0.8 0 785 3,851 20.38 2014 0 0.4 0 393 1,773 22.17 2013 0 0.4 0 393 1,895 20.74 : 2015()32% 054

2015 2015, 20151231785,9,817,567,000, 100.8() 2015,A,H,201678,,,,, 2015128,, 626,666,667 4% 2015129 20151217, 80B737NG/MAX 7B757 5 6B7574 3B733 4, 80B737NG/MAX,13B7579 3B7334 20151218 20151217, 30B737MAX, 30 B737MAX 20151218 20151223,(AIRBUS S.A.S) 10A330, 10A330-300 20151224 201622, 100%, 40,057.04 100% 201623 二零一五年年度報告 055

,,,,2011 1130,2011 H H ( ),20111231118( )24,660,000,,3.92,,,20111222 2012531 2013618 20146262015630H 0.2 0.05 0.040.04(0.25 0.06 0.050.05),,H3.51,,7,013,333, 24,660,000 (),,: 1 20081111,, 20081112 H 2 2009928, MTU AERO ENGINES GMBH MTU 2009929 3 2013419, <> 2013422 4 2013419, 2013422 5 2013419, 2013422 6 2013118, 2013119 7 20131231, <> < > 201411 H 056

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1, 20021011 10000589-6 2 : 1119604.6,, (11.94%) 國務院國有資產監督管理委員會 100% 中國南方航空集團公司 100% 南龍控股有限公司 100% 41.14% 航信 ( 香港 ) 有限公司 10.53% 100% 亞旅實業有限公司 0.32% 中國南方航空股份有限公司 064

3 20021011,(),,,,,,,, : : 19929 167,449.76 20151231,, ( ) 336 : A H () A 4,039,228,665 (L) 57.52% 41.14% H 1,064,770,000 (L) 38.10% 10.85% 5,103,998,665 (L) 51.99% () H 1,064,770,000 (L) 38.10% 10.85% : 1,064,770,000H,31,120,000H (H1.11%), 1,033,650,000H(H36.98%),31,120,000H,20151231,,( ) 336 二零一五年年度報告 065

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2 () Kosalaki Investments Limited 二零一五年年度報告 067

CDH CHINA MANAGEMENT COMPANY LIMITED () Shine C Holding Limited WH Group Limited United Global Food (US) Holdings, Inc. Smithfield Foods, Inc. Rotary Vortex Ltd Mabtech Limited Mabtech Holdings Limited GeneMab Limited 068

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() 專業構成教育程度 7,465 2,702 21,295 16,505 22,495 2,366 1,391 1,065 34,836 9,146 12,108 6,197 7,321 2,343 27,169 飛行員空警安全員乘務員 ( 含兼職安全員 ) 機務系統研究生大專本科中專及以下航務系統客運系統貨運系統地服系統信息系統財務系統其他 (),,,,,,,,,,,,, () 2016,:,3,500 1,000875,,,,380,,50%,190,230,,,;,;,E-learning150,APP 200,1,000;,,,PC APP,,, 二零一五年年度報告 077

078 BOARDING PASS

CHINA SOUTHERN AIRLINES 優游自在, 中国南方航空股份有限公司二零一五年年度報告 079

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2 086 2015 2014 (%) : : 20,547 16,270 26.12 (8,271) (6,819) 21.29 (30,027) (2,586) 1,061.14 5,321 17,868 (70.22) 0.22 0.51 (56.86) 0.20 0.48 (65.12) 73.38% 76.66% (4.28) EBITDA 20.05% 14.40% 39.02, 4 2 61.66 13 9 48.87 EBITDA 9 7 33.33 100% 100% 100% 100% :=() =(+) =(++) 20151231,123 20151231,5066 ((13))415()( (29)(a))( (19)) 20151231,88,124((19))55,824 ()( (31)) 8,839( )261()( (29)(a)), 2015112,30113,178,082.19 20151231,2016173,739,42,718,131,021,62,135, 2015()( ) ( ),,,,,

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二零一五年年度報告 089

090 BOARDING PASS

CHINA SOUTHERN AIRLINES 近在咫尺, 中国南方航空股份有限公司二零一五年年度報告 091

普華永道中天審字 (2016) 第 10108 號 : 我們審計了後附的中國南方航空股份有限公司 ( 以下簡稱貴公司 ) 的財務報表, 包括 2015 年 12 月 31 日的合併及公司資產負債表,2015 年度的合併及公司利潤表合併及公司股東權益變動表和合併及公司現金流量表以及財務報表附註編製和公允列報財務報表是貴公司管理層的責任這種責任包括 : (1) 按照企業會計準則的規定編製財務報表, 並使其實現公允反映 ; (2) 設計執行和維護必要的內部控制, 以使財務報表不存在由於舞弊或錯誤導致的重大錯報我們的責任是在執行審計工作的基礎上對財務報表發表審計意見我們按照中國註冊會計師審計準則的規定執行了審計工作中國註冊會計師審計準則要求我們遵守中國註冊會計師職業道德守則, 計劃和執行審計工作以對財務報表是否不存在重大錯報獲取合理保證審計工作涉及實施審計程序, 以獲取有關財務報表金額和披露的審計證據選擇的審計程序取決於註冊會計師的判斷, 包括對由於舞弊或錯誤導致的財務報表重大錯報風險的評估在進行風險評估時, 註冊會計師考慮與財務報表編製和公允列報相關的內部控制, 以設計恰當的審計程序審計工作還包括評價管理層選用會計政策的恰當性和作出會計估計的合理性, 以及評價財務報表的總體列報我們相信, 我們獲取的審計證據是充分適當的, 為發表審計意見提供了基礎我們認為, 上述貴公司的財務報表在所有重大方面按照企業會計準則的規定編製, 公允反映了貴公司 2015 年 12 月 31 日的合併及公司財務狀況以及 2015 年度的合併及公司經營成果和現金流量普華永道中天會計師事務所 ( 特殊普通合伙 ) 註冊會計師王斌中國上海市註冊會計師湛宇豐 2016 年 3 月 30 日普華永道中天會計師事務所 ( 特殊普通合伙 ) 中國上海市黃浦區湖濱路 202 號企業天地 2 號樓普華永道中心 11 樓郵編 200021 總機 :+86 (21) 2323 8888, 傳真 :+86 (21) 2323 8800,www.pwccn.com 092 二零一五年年度報告

20151231 (,) 20151231 20141231 (1) 5,444 18,306 (3) 2,592 2,705 (5) 1,279 1,104 (2) 17 4 (4) 1,610 2,474 (6) 1,606 1,661 (7) 1,870 1,586 14,418 27,840 (8) 240 240 (9) 3,453 2,937 (10) 507 459 (11) 142,454 134,001 (12) 19,556 19,247 (13) 2,889 2,544 (14) 669 651 (15) 640 733 (16) 13 (17) 1,411 1,045 171,832 161,857 186,250 189,697 二零一五年年度報告 093

() 20151231 (,) 20151231 20141231 (20) 19,483 7,243 771 11 (21) 12,077 11,211 (22) 7,131 6,101 (23) 2,446 2,405 (24) 236 436 (25) 385 471 8 (26) 5,035 5,320 (27) 9,964 17,888 (28) 8,000 3,000 65,536 54,086 (29) 12,884 42,066 (30) 3,000 (31) 49,408 43,919 (32) 1,895 1,623 (33) 3,003 2,831 (34) 13 25 (17) 938 873 71,141 91,337 136,677 145,423 (35) 9,818 9,818 (36) 14,336 14,388 (37) 59 53 (38) 1,552 1,306 (39) 13,201 9,989 38,966 35,554 10,607 8,720 49,573 44,274 186,250 189,697 094 二零一五年年度報告

20151231 (,) 20151231 20141231 3,182 10,755 (1) 2,190 2,232 800 743 17 4 (2) 998 4,616 1,115 1,179 1,666 1,434 9,968 20,963 143 140 (3) 8,715 6,255 281 229 111,898 105,214 11,707 11,960 1,510 1,491 619 600 307 342 13 1,375 1,004 136,568 127,235 146,536 148,198 二零一五年年度報告 095

() 20151231 (,) 20151231 20141231 15,003 5,993 9,490 8,292 6,123 5,413 1,959 1,814 103 303 303 417 8,571 6,221 7,339 15,167 8,000 3,000 56,891 46,620 10,216 30,844 3,000 41,740 38,357 1,468 1,184 2,402 2,441 11 23 58,837 72,849 115,728 119,469 9,818 9,818 14,100 14,100 37 28 1,552 1,306 5,301 3,477 30,808 28,729 146,536 148,198 096 二零一五年年度報告

2015 (,) 2015 2014 (40) 111,467 108,313 : (40) 91,382 95,151 (41) 274 188 (42) 7,081 7,947 (43) 2,754 2,582 (44) 7,826 2,251 (47) 108 205 : (46) 582 416 : 569 403 2,624 405 : (48) 3,814 2,822 : 335 365 : (49) 97 132 : 65 98 6,341 3,095 : (50) 1,355 677 4,986 2,418 3,851 1,773 1,135 645 () (51) 0.39 0.18 () (51) 0.39 0.18 (37) 3 53 6 36 () (5) 14 1 22 10 () (3) 17 4,989 2,471 3,857 1,809 1,132 662 二零一五年年度報告 097

2015 (,) 2015 2014 (4) 80,239 81,852 : (4) 66,450 72,812 143 122 5,200 6,063 1,823 1,793 6,619 2,106 49 176 : (5) 589 536 : 547 355 () 544 (684) : 2,584 2,458 : 60 595 : 72 124 : 51 97 3,056 1,650 : 593 272 2,463 1,378 9 18 () (3) 7 2 11 10 2,472 1,396 098 二零一五年年度報告

2015 (,) 2015 2014 121,976 117,116 591 1,307 (52)(a) 2,937 2,399 125,504 120,822 76,611 85,794 18,466 16,342 3,542 1,969 (52)(b) 1,172 1,601 99,791 105,706 (53)(a) 25,713 15,116 86 99 3,196 1,611 (52)(c) 313 360 3,595 2,070 11,757 8,232 40 69 657 11,866 8,889 (8,271) (6,819) 1,360 108 34,170 32,488 11,000 6,000 (52)(d) 324 1,609 46,854 40,205 73,421 38,198 3,072 2,929 : 23 128 388 8 (52)(e) 1,656 76,881 42,791 (30,027) (2,586) 38 (13) () (53)(a) (12,547) 5,698 : 17,868 12,170 (53)(b) 5,321 17,868 二零一五年年度報告 099

2015 (,) 2015 2014 88,155 88,148 527 1,295 1,702 2,036 90,384 91,479 54,104 65,619 12,799 11,947 2,001 1,075 858 1,074 69,762 79,715 20,622 11,764 105 278 3,208 1,532 100 146 3,413 1,956 6,757 4,647 1,366 162 388 6 8,511 4,815 (5,098) (2,859) 28,333 26,361 11,000 6,000 39,333 32,361 60,029 33,665 2,448 2,394 62,477 36,059 (23,144) (3,698) 38 (13) () (7,582) 5,194 : 10,662 5,468 3,080 10,662 100 二零一五年年度報告

2015 (,) 201411 9,818 14,389 17 1,169 8,746 8,073 42,212 2014 1,773 645 2,418 36 17 53 36 1,773 662 2,471 108 108 (1) (1) (2) 6 6 137 (137) (393) (128) (521) 20141231 9,818 14,388 53 1,306 9,989 8,720 44,274 201511 9,818 14,388 53 1,306 9,989 8,720 44,274 2015 3,851 1,135 4,986 6 (3) 3 6 3,851 1,132 4,989 1,360 1,360 (52) (574) (626) 246 (246) (393) (31) (424) 20151231 9,818 14,336 59 1,552 13,201 10,607 49,573 二零一五年年度報告 101

2015 (,) 201411 9,818 14,100 10 1,169 2,629 27,726 2014 1,378 1,378 18 18 18 1,378 1,396 137 (137) (393) (393) 20141231 9,818 14,100 28 1,306 3,477 28,729 201511 9,818 14,100 28 1,306 3,477 28,729 2015 2,463 2,463 9 9 9 2,463 2,472 246 (246) (393) (393) 20151231 9,818 14,100 37 1,552 5,301 30,808 102 二零一五年年度報告

2015 (,) ( )( ) ( )[1994] 139, 2,200,000,0001.00 1995325,, [1997] 33,19977,1,174,178,000H 2003( )[2003] 70,200371,000,000,0001.00A 2003313[2003] 273, [2008] 1094 2008 625,200811 2,187,089,000,6,561,267,000 2009618[2009] 5412009531[2009] 449, 721,150,000A,( ) 721,150,000H,8,003,567,000 201099[2010] 1243201091[2010] 1215,2010 102010111,501,500,000A, 312,500,000H,9,817,567,000 20151231, 9,817,567,000,1 (1) 2016330,((10)) ((11)) ((9)) ((19)) ((14)(17)) ((13)) ((28)) ((22)(a)) (32) (1) (a) 2006215 ( ) 15 二零一五年年度報告 103

2015 (,) () (1) () (b) 20161231 20151231,51,118,000,000,20151231,2016 173,739,000,000, 131,021,000,000,2016123112,, (2) 2015, 20151231 2015 (3) 111231 (4),,((8)) (5) (a),, (), ;,, (b),,(),,;,, 104 二零一五年年度報告

2015 (,) () (6),,,,,,,,,,,,,,(), ( ),,,,,,,,,;,,, 二零一五年年度報告 105

2015 (,) () (7) (8) (a),, ((16)),,,,,,,;, (b),,,,,,,, (9) ((12)) (a),,: 106 二零一五年年度報告

2015 (,) () (9) () (a) (),,;,,:,,,,;,,,,,,,,, (b),,, :,;, (c),,,,,, 二零一五年年度報告 107

2015 (,) () (9) () (d),:(1);(2),;(3),,,: ;,, (e),,,,,: (i) (ii) (iii) (iv) (v) (vi) ;,; ;,;, ; (50%)( 9),(10),,,,,,,,,, 108 二零一五年年度報告

2015 (,) () (9) () (f), (g),,: (i),(), ;(ii), ;(iii),, ;(iv);(v),,,,,,,, (10),(),,,,( ),,,,, (a) 10%,(),,, ((c)) 二零一五年年度報告 109

2015 (,) () (10) () (b), ;,((a) ),( (c)) (c) : (a)(b),,: 0-3(3) 0% 3 1(1) 50% 1 100%,: (i) (ii),,,,, (11) (a) (b) (c),,, (d) 110 二零一五年年度報告

2015 (,) () (11) () (e), (12) :;,,,, ; (a) (i),,;,,,, (ii),,,;,;,, (b) (i),,,,,(6) 二零一五年年度報告 111

2015 (,) () (12) () (b) () (ii) ((12)(c)) ((12)(c)),, ((27)) :,,;,,,,,,,,,,,, (c),,,, (d) (19) 112 二零一五年年度報告

2015 (,) () (13),, ((14)(b) (17)), ((27)) (19),,,,, (), (14) (a), (15),,,,,,; (b), ((27)) : 5-35 5% 2.7% - 19% 15-20 5% 4.8% - 6.3% 3-12 0% 8.3% - 33.3% 15-20 5% 4.8% - 6.3%, 3-15 0% - 5% 6.3% - 33.3% 4-10 5% 9.5% - 23.8% 二零一五年年度報告 113

2015 (,) () (14) () (c) (19) (d) (26)(c) (e),: (i) ; (ii) (15), ((16)),, ((19)) (16),,,: (i) (ii),,,,,,,,,,,,, 3, 114 二零一五年年度報告

2015 (,) () (17) ()((19)), ((27)) : 30-70 2-10,, (18), : T3 3-10 30 15 4-10 (19),:, (,),,, 二零一五年年度報告 115

2015 (,) () (19) (),,,,,,,,,,,( ) (), (20),,,, (21) (a) (b),,,,,, (22), (a),,,,,,, 116 二零一五年年度報告

2015 (,) () (22) () (b) (c) (d) (e) (23), (a) (b),,,;,,,,,,,,, 2014,,, 二零一五年年度報告 117

2015 (,) () (23) () (c),,,,,,,,, (24),,,,,,,,,,,,,,,,;, (25) (),,,, (),,,, 118 二零一五年年度報告

2015 (,) () (25) (),,,,,,,,: ;,, (26) (a) (b) (c) ((13))(14)(b),(19),, ;,,,, (14)(b),(19),,, ((16)),, 二零一五年年度報告 119

2015 (,) () (26) () (d),,, (27),,,,,,,;,, :( ) ;( ) ;( );( ) ( ),,,,, (28),,,,(), (29),,, 120 二零一五年年度報告

2015 (,) () (30),,, : (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) ; ; ; ; ;,;,; ; ; ; ; (l),,(): (m) (n) (o) (p) (q) 5%; 5%, ; 1212,(a),(c)(m); 1212,(i),(j)(n); (i),(j),(n)(p), 二零一五年年度報告 121

2015 (,) () (31),,: ;, ;,,, (32),,, (34),: (a) (b) (c) (10),,,,, (11),,,,,,, (19),,,, ()() ()(),,(), 122 二零一五年年度報告

2015 (,) () (32) () (d) (13) (14) (17)(26)(c),,,, (e) (f) (g) (28),,, (22)(a),,,,,, (1) (a) () 6% 11%17%,, 5% 5%7% 5% (b) 15%25% (a) (b) ( [2013] 106),201381, 11%,,6%17%;, 25%( 2014:25%) 15%25%(2014:15%25%) 二零一五年年度報告 123

2015 (,) (2) 2007316,200811, 25% : ( ) 15% ( ) 15%,, (1) 20151231 20141231 7 4 2,380 13,600 (a) 2,934 4,264 (b) 123 438 5,444 18,306 (a) (b) (c) (d) ( )((5)(d)) ((2)(a)) 2015 12 31,123,000,000( 2014 12 31: 438,000,000) 20151231,160,000,000( 20141231: 275,000,000) 0.24%4.25%(2014:0.35%4.25%) (2) 20151231 20141231 ( ) 17 ( ) 3 ( ) 1 17 4 124 二零一五年年度報告

2015 (,) () (3) 20151231 20141231 2,625 2,738 : 33 33 2,592 2,705 (a) : 20151231 20141231 1(1) 2,580 2,715 12(2) 25 12 23(3) 12 4 3 8 7 2,625 2,738 : 33 33 2,592 2,705 20151231,47,000,000(20141231:5,000,000), : 20151231 20141231 31(1) 19 5 12(2) 28 47 5 (b) : 20151231 20141231 (%) (%) (%) (%) (i) 2,625 100 33 1 2,738 100 33 1 ((3)(c)) 1,850 70 30 2 2,266 83 30 1 ((3)(c)) 775 30 3 1 472 17 3 1 2,625 100 33 1 2,738 100 33 1 (i) 二零一五年年度報告 125

2015 (,) () (3) () (c),: 20151231 20141231 (%) (%) 3(3) 1,805 2,221 31(1) 30 15 50 30 15 50 12(2) 5 5 100 9 9 100 23(3) 4 4 100 2 2 100 3 6 6 100 4 4 100 1,850 30 2 2,266 30 1,: 20151231 20141231 (%) (%) 775 3 1 472 3 1 (d) 4,000,000, (e) (f),4,000,000,, 20151231,: (%) 1,044 7 39.8 (g), 126 二零一五年年度報告

2015 (,) () (4) 20151231 20141231 901 1,018 119 73 239 22 230 570 917 1,612 2,477 : 2 3 1,610 2,474 (a) : 20151231 20141231 1(1) 482 1,326 12(2) 435 388 23(3) 96 270 3 599 493 1,612 2,477 : 2 3 1,610 2,474 2015123120141231,1,,; 1 (b) : 20151231 20141231 (%) (%) (%) (%) 2 2 100 3 3 100 (i) 1,610 100 2,474 100 901 56 1,018 41 119 7 73 3 239 10 22 1 230 9 568 36 914 37 1,612 100 2 2,477 100 3 (i) 二零一五年年度報告 127

2015 (,) () (4) () (c),1,000,000, (d) (e),2,000,000,, 20151231,: (%) 1 621 1-6 38.5 195 1-2 12.1 ( ) 3 142 1-4 8.8 4 50 1-3 3.1 5 36 1 2.2 1,044 64.7 (f), (g) 2015123120141231, (h) 20151231, (5) 20151231 20141231 511 404 350 313 62 43 356 344 1,279 1,104 128 二零一五年年度報告

2015 (,) () (5) () (a) : 20151231 (%) 20141231 (%) 1(1) 1,188 92.9 1,049 95.0 12(2) 70 5.5 37 3.4 23(3) 16 1.2 10 0.9 3 5 0.4 8 0.7 1,279 100.0 1,104 100.0 20151231, (20141231:) (b) 20151231,: (%) 505 39.5 (6) (a) : 20151231 20141231 1,519 (110) 1,409 1,587 (104) 1,483 197 197 178 178 1,716 (110) 1,606 1,765 (104) 1,661, (b) : 2014 1231 2015 1231 104 13 (7) 110 二零一五年年度報告 129

2015 (,) () (7) 20151231 20141231 1,596 1,562 274 24 1,870 1,586 (8) 20151231 20141231 104 104 136 136 240 240 (a) : : 20151231 20141231 104 104 25 25 79 79 : 2014 1231 2015 1231 100 100 3.36% ( ) 33 33 2.25% 9 2 2 1.00% 1 1 1 136 136 10 (b),,,, 130 二零一五年年度報告

2015 (,) () (9) : 20151231 20141231 (a) 1,461 1,360 (b) 1,992 1,577 3,453 2,937 (a) 2014 1231 2015 1231 ( ) 741 80 821 ( ) 537 29 566 China Southern West Australian Flying College Pty Limited ( Flying College ) 29 (9) 20 53 7 (6) 54 1,360 107 (6) 1,461 (2) (b) 2014 1231 2015 1231 1 1 1 233 46 (6) (12) 261 ( ) 758 333 (34) 1,057 ( ) 268 54 (12) 310 ( ) 68 4 72 250 40 25 (1) (22) 292 1,577 40 462 (7) (80) 1,992 (2) 二零一五年年度報告 131

2015 (,) () (10) : 20141231 83 563 646 ((11)) 88 88 ((13)) 6 6 ((11)) (8) (8) (2) (2) 20151231 89 641 730 : 20141231 20 167 187 1 18 19 ((11)) 18 18 ((13)) 2 2 ((11)) (2) (2) (1) (1) 20151231 23 200 223 : 20151231 66 441 507 20141231 63 396 459 (a) (b) (c) 20151231,17,000,000(20141231:18,000,000 ) 20151231,50,000,000( 20141231: 51,000,000)66,000,000( 20141231: 68,000,000)( (13))415,000,000( 20141231: 434,000,000)( )( (29)(a))((19)) 20151231, 272,000,000(400,000,000)(201412 31:218,000,000(332,000,000)) 132 二零一五年年度報告

2015 (,) () (11), (a): 20141231 9,223 85,112 79,831 18,570 5,918 198,654 172 1,560 5,941 660 390 8,723 ((12)) 849 1,768 8,174 896 103 11,790 ((10)) 8 8 6,700 (6,700) ((10)) (88) (88) (38) (1,454) (416) (1,156) (230) (3,294) 20151231 10,126 93,686 86,830 18,970 6,181 215,793 : 20141231 3,038 33,142 12,581 10,458 3,700 62,919 363 5,088 4,690 1,104 516 11,761 ((10)) 2 2 2,301 (2,301) ((10)) (18) (18) (14) (1,315) (416) (1,087) (191) (3,023) 20151231 3,371 39,216 14,554 10,475 4,025 71,641 : 20141231 3 1,623 108 1,734 15 40 35 90 (b) (108) (18) (126) 20151231 3 1,530 40 125 1,698 : 20151231 6,752 52,940 72,236 8,370 2,156 142,454 20141231 6,182 50,347 67,250 8,004 2,218 134,001 (a) (b) (c) 1996,,, 126,000,000 20151231,88,124,000,000( 20141231: 98,980,000,00095,000,000)( (19)) 55,824,000,000()( 20141231:49,911,000,000 )( (31)) 8,839,000,000()( 20141231 :22,921,000,000)261,000,000( )( 20141231:25,000,000)( (29)(a)) 二零一五年年度報告 133

2015 (,) () (11) () (d) 20 (e) 20151231, 3,343,000,000(4,881,000,000)( 201412 31:3,354,000,000(4,811,000,000)) (12) 20151231 20141231 17,818 17,818 17,689 17,689 : 437 437 460 460 299 299 130 130 200 200 85 85 186 186 137 137 160 160 97 97 123 123 80 80 71 71 53 53 699 699 976 976 19,556 19,556 19,247 19,247 134 二零一五年年度報告

2015 (,) () (12) () (a) ((11) 2014 1231 2015 1231 17,689 13,922 (10,813) (2,980) 17,818 437 367 2.77% (i) 444 130 172 (3) 299 67 (ii) 361 85 115 200 55 (ii) 238 137 49 186 78 (ii) 9 4 2.81% (%) : ((44)) 245 97 63 160 65 (ii) 5 3 2.81% 171 80 43 123 72 (ii) 5 2 2.81% 423 53 18 71 17 (ii) 4 1 2.81% 4,912 976 832 (974) (123) (12) 699 14 (ii) 8 5 2.81% 19,247 15,214 (11,790) (123) (2,992) 19,556 468 382 (i),, 302,000,000, 88,000,000 (ii) (iii) 2015123120141231, 二零一五年年度報告 135

2015 (,) () (13) : 20141231 2,700 585 3,285 360 29 389 ((12)) 106 106 ((10)) (6) (6) (4) (4) 20151231 3,050 720 3,770 : 20141231 348 393 741 65 78 143 ((10)) (2) (2) (1) (1) 20151231 410 471 881 : 20151231 2,640 249 2,889 20141231 2,352 192 2,544 (a) (b) 20151231,1,359,000,000(1,480,000,000 )( 20141231:1,038,000,000(1,141,000,000)) 20151231,50,000,000( 20141231: 51,000,000)( (10))66,000,000(20141231: 68,000,000)415,000,000( 20141231:434,000,000 )( )( (29)(a))((19)) (c) 2015123120141231, (14) 20151231 20141231 669 651, 136 二零一五年年度報告

2015 (,) () (15) 2014 1231 2015 1231 137 20 (39) 118 48 2 (10) 40 T3 250 (10) 240 287 4 (27) (31) 233 11 1 (3) 9 733 27 (89) (31) 640 (16) 20151231 20141231 13 20151231,1.64%1.72%, 20151231,5.81 (17) (a) 20151231 20141231 4,154 1,032 2,703 675 812 191 741 182 803 201 945 235 327 82 304 76 264 62 350 82 6,360 1,568 5,043 1,250 : 1(1) 3,448 862 2,351 577 1 2,912 706 2,692 673 6,360 1,568 5,043 1,250 二零一五年年度報告 137

2015 (,) () (17) () (b) 20151231 20141231 (1,538) (384) (1,452) (363) (2,747) (687) (2,756) (689) (79) (20) (79) (20) (13) (3) (3) (1) (24) (6) (4,380) (1,095) (4,311) (1,078) : 1(1) 1 (4,380) (1,095) (4,311) (1,078) (4,380) (1,095) (4,311) (1,078) (c) : 20151231 20141231 371 272 843 970 1,214 1,242 (d) : 20151231 20141231 2015 95 2016 230 230 2017 200 201 2018 214 250 2019 194 194 2020 5 843 970 (e) : 20151231 20141231 157 1,411 205 1,045 (157) (938) (205) (873) 138 二零一五年年度報告

2015 (,) () (18) 2014 1231 2015 1231 36 5 (6) 35 :((3)) 33 4 (4) 33 ((4)) 3 1 (2) 2 ((6)) 104 13 (7) 110 ((11)) 1,734 90 (126) 1,698 1,874 108 (139) 1,843 (19) 20151231,: 2014 1231 2015 1231 : ((1)) 324 (324) ((11)) 99,075 15,234 (26,185) 88,124 ((10)) 51 (1) 50 ((13)) 68 (2) 66 (20) 99,518 15,234 (26,512) 88,240 20151231 20141231 19,378 6,856 232 50 ((5)(e)) 105 105 19,483 7,243 (a) 20151231,1.64%4.79% (20141231:0.61%6.60%) (21) 20151231 20141231 5,431 3,463 1,346 2,085 2,330 2,339 859 977 458 456 372 412 1,281 1,479 12,077 11,211 2015123120141231, 二零一五年年度報告 139

2015 (,) () (22) 2015123120141231, 3 (23) 20151231 20141231 (a) 2,400 2,327 (b) 33 57 (c) 13 21 2,446 2,405 (a) (b) 2014 1231 2015 1231 2,132 11,637 (11,638) 2,131 711 (711) 7 844 (833) 18 : 7 740 (729) 18 48 (48) 56 (56) 14 1,436 (1,431) 19 108 324 (280) 152 66 1,754 (1,740) 80 2,327 16,706 (16,633) 2,400 2014 1231 2015 1231 8 1,288 (1,268) 28 95 (94) 1 49 438 (483) 4 57 1,821 (1,845) 33 13%21%(2014:11%21%),2014, ( ),, (c) 20151231 20141231 ((34)) 12 20 1 1 13 21 (d) 140 二零一五年年度報告

2015 (,) () (24) 20151231 20141231 11 13 21 14 66 296 138 113 236 436 (25) 20151231 20141231 269 280 22 75 57 6 24 110 13 (26) 20151231 385 471 20141231 ((6)) 56 139 923 980 571 606 767 703 (a) 658 758 238 1,822 2,134 5,035 5,320 (a) (b), 20171231 100,000,000,201531,6%,, 2015123120141231,,,,, 二零一五年年度報告 141

2015 (,) () (27) 20151231 20141231 ((29)) 2,519 10,736 ((31)) 6,416 5,992 ((33)(e)) 1,029 1,160 9,964 17,888 (28) 20151231 20141231 (a) 8,000 3,000 (a) : 2014 1231 2015 1231 2014 3,000 (3,000) 2015 3,000 10 3,000 2015 2,000 6 2,000 2015 3,000 8 3,000 3,000 8,000 24 (3,000) 8,000 (29) 2015 3,000 20151119 270 3,000 2015 2,000 20151124 180 2,000 2015 3,000 20151130 268 3,000 : 20151231 20141231 (a) 9,515 23,380 5,888 29,064 300 58 15,403 52,802 : 1,696 3,822 823 6,896 12 6 2,519 10,736 12,884 42,066 (a) (b) 20151231,((11)(c)) ((10)) ((13)) 20151231,1.20%4.90%(20141231:0.76%6.40%) 142 二零一五年年度報告

2015 (,) () (30) 2014 1231 2015 1231 3,000 3,000 : 3,000 20151120 5(3 ) 3,000 (a) [2015]2581,20151120,,3.63%, 13,000,000((25)) (31) 20151231: 20151231 20141231 1(1) 7,864 7,312 12(2) 8,613 6,643 23(3) 6,804 7,327 3 39,442 35,295 62,723 56,577 : 6,899 6,666 55,824 49,911 :((27)) 6,416 5,992 49,408 43,919 20151231, (11)(c) 20152030 20151231, 0.18%6.56% ( 20141231:0.39%7.99%),, 二零一五年年度報告 143

2015 (,) () (32) 201511 1,735 : 112 : 823 : 193 20151231 2,365 : 470 1,895 (33) 2014 1231 2015 1231 (a) 184 36 (75) 145 (b) 367 160 (72) 455 (c) 103 (26) 77 (d) 21 (2) 19 (e) 1,750 1,485 (1,429) 1,806 (f) 405 152 (57) 500 1 1 2,831 1,833 (1,661) 3,003 (a) (b) (c) (d) (e),,,,,, 2008418, : 201511 2,910 :((27)) 1,160 : 1,485 : 1,560 20151231 2,835 :((27)) 1,029 1,806 144 二零一五年年度報告

2015 (,) () (33) () (f) 2014 1231 2015 1231 204 43 (19) 228 30 (2) 28 14 (5) 9 21 2 (1) 22 14 (2) 12 122 107 (28) 201 405 152 (57) 500 (34) 201511 45 :((23)(c)) 20 : 3 ((44)) 2 : 25 20151231 25 :((23)(c)) 12 13 (35), 20151231 20141231 (A) 7,023 7,023 (a) 4,039 4,209 A(a) 2,984 2,814 (H) 2,795 2,795 H(b) 1,034 1,034 H 1,761 1,761 9,818 9,818 二零一五年年度報告 145

2015 (,) () (35) () 20141231 20131231 (A) 7,023 7,023 4,209 4,150 A 2,814 2,873 (H) 2,795 2,795 H(b) 1,034 1,034 H 1,761 1,761 9,818 9,818 (a),a169,357,613,1.73% (b) 2015123120141231, (H)31,120,000 (36) 2014 1231 2015 1231 14,131 (12) 14,119 217 217 40 (40) 14,388 (52) 14,336 2013 1231 2014 1231 14,131 14,131 217 217 41 (1) 40 14,389 (1) 14,388 146 二零一五年年度報告

2015 (,) () (37) 2014 1231 2015 1231 2015 : : 9 (5) 4 (7) (5) (2) 44 1 45 1 (1) 10 10 13 3 10 53 6 59 6 3 6 (3) 2013 1231 2014 1231 2014 : : (5) 14 9 21 14 7 22 22 44 43 11 22 10 17 36 53 64 11 36 17 (38) 2014 1231 2015 1231 1,229 246 1,475 77 77 1,306 246 1,552 2013 1231 2014 1231 1,092 137 1,229 77 77 1,169 137 1,306,10%, 50%,,,201510%246,000,000(2014: 10%,137,000,000) 二零一五年年度報告 147

2015 年 2014 2015 (,) () (39) 2015 2014 9,989 8,746 : 3,851 1,773 :(a) 393 393 ((38)) 246 137 13,201 9,989 (a) 2015630,201586AH, 0.04()( 2014:0.04()), 393,000,000( 2014: 393,000,000) (40) 2015 2014 (a) 109,400 106,463 (b) 2,067 1,850 111,467 108,313 90,111 93,985 (b) 1,271 1,166 91,382 95,151 (a) 2015 2014 100,238 97,145 6,861 7,183 2,301 2,135 109,400 106,463 (b) 2015 2014 621 557 508 451 239 209 272 228 1,207 505 1,070 487 2,067 1,271 1,850 1,166 148 二零一五年年度報告

2015 (,) () (41) 2015 2014 121 86 84 54 69 48 274 188 (42) 2015 2014 3,150 4,263 2,376 2,214 605 542 122 116 828 812 (43) 7,081 7,947 2015 2014 1,817 1,669 213 201 124 124 98 95 103 82 399 411 (44) 2,754 2,582 2015 2014 2,568 2,606 ((34)) 2 4 :((12)) 382 417 : 253 376 5,702 276 189 158 7,826 2,251 二零一五年年度報告 149

2015 (,) () (45),: 2015 2014 26,274 37,728 18,542 16,395 12,012 11,003 11,510 10,496 7,326 5,451 6,151 5,376 3,150 4,263 2,680 2,497 2,482 2,279 11,090 10,192 (46) 101,217 105,680 2015 2014 569 403 13 13 582 416 (47) 2015 2014 ((3)(4)) 5 12 ()( (6)) 13 (22) ((11)) 90 215 (48) 2015 108 205 2014 335 365 335 (a) 2,365 1,728 459 459 655 270 655 3,814 2,822 990 (a) 150 二零一五年年度報告

2015 (,) () (49) 2015 2014 65 98 65 32 34 32 97 132 97 (50) 2015 2014 1,700 430 (41) (29) (304) 276 1,355 677 : 2015 2014 6,341 3,095 15%~25%(2014:15%~25%) 1,537 747 3 11 (144) (104) (18) (11) 23 63 (41) (29) (5) 1,355 677 (51) (a) : 2015 2014 3,851 1,773 9,818 9,818 0.39 0.18 (b),( 2014 :),, 二零一五年年度報告 151

2015 (,) () (52) (a) 2015 2014 2,460 1,889 477 510 2,937 2,399 (b) (c) (d) (e) 2015 2014 810 1,009 189 158 173 434 1,172 1,601 2015 2014 313 360 2015 2014 324 1,609 2015 2014 1,656 152 二零一五年年度報告

2015 (,) () (53) (a) 2015 2014 : 4,986 2,418 :((47)) 5 12 ()( (47)) 13 (22) ((47)) 90 215 ((11)) 11,761 10,780 ((10)) 19 21 ((13)) 143 140 ((15)) 89 62 () 41 (18) ((48)(49)) (270) (267) 7,198 2,093 ((46)) (582) (416) ()((17)) (366) 294 ()( (17)) 62 (18) ((6)) 42 37 () (9) 49 1,030 261 (200) (361) ((32)) 272 547 () 405 (1,484) 984 773 25,713 15,116 : 11,251 19,163 : 5,321 17,868 : 17,868 12,170 () (12,547) 5,698 (b) 20151231 20141231 7 4 2,380 13,600 2,934 4,264 5,321 17,868 二零一五年年度報告 153

2015 (,) () (54) 20151231 92 6.4936 596 10 7.0952 69 468 0.0812 38 5 4.5875 24 278 0.0539 15 5,833 0.0024 14 17 0.8378 14 113 0.0884 10 1 4.7276 7 23,333 0.0003 7 29 34 6.4936 218 18 7.0952 129 10 4.7276 49 47 0.8378 39 168 0.1972 33 542 0.0539 29 3 9.6159 28 4,375 0.0055 24 4 4.5875 16 42 169 6.4936 1,098 2,364 0.0055 13 186 0.0539 10 10 0.8378 8 1 7.0952 8 1 9.6159 5 19 154 二零一五年年度報告

2015 (,) () (54) () 20151231 100 6.4936 648 79 6.4936 510 89 7.0952 631 11 6.4936 69 1 7.0952 6 2 0.8378 2 5 42 6.4936 275 56 0.0539 3 1 4.5875 3 1 7.0952 3 6 6.4936 42 35 0.8378 29 2,182 0.0055 12 1 7.0952 9 13 350 6.4936 2,271 861 6.4936 5,592 3,525 0.0539 190 10 4.5875 46 44 7.0952 312 1,899 6.4936 12,329 6,451 6.4936 41,890 30,779 0.0539 1,659 70 4.5875 322 594 7.0952 4,216 二零一五年年度報告 155

2015 (,) (1) (a) (%) ( ) 55.00 ( ) 60.00 ( ) 60.00 60.00 60.00 ( ) 60.00 ( ) 61.00 ( ) 55.00 (b) (c) (d) (%) ( ) 51.00 ( ) 100.00 ( ) 51.84 (%) ( ) 100.00 2015 2015 2015 1231 45% 628 6,734 20151231 20141231 2,739 6,695 35,489 32,622 38,228 39,317 12,148 8,527 11,445 17,668 23,593 26,195 2015 2014 19,965 17,822 1,276 758 1,271 790 4,562 2,789 2015123120141231, 156 二零一五年年度報告

2015 (,) () (2) (a) (%) (%) 50.00 50.00 (i) 51.00 50.00 Flying College(ii) 48.12 50.00-21.09 12.89 33.98 39.00 39.00 40.00 40.00 45.00 45.00 (i) (ii) 51.00%,50.00%,,4,2, 50.00% Flying College48.12%,50.00%,Flying College,6,3, 50.00% (b) : 20151231 20141231 1,461 1,360 2015 2014 (i) 107 140 (i) 107 140 : 20151231 20141231 1,992 1,577 2015 2014 (i) 462 263 ()(i) (7) 21 455 284 (i) 二零一五年年度報告 157

2015 (,),,,,,,, (a),,,,,,:, (), 158 二零一五年年度報告

2015 (,) () (a) () 2015 201420151231 20141231, : 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 110,067 107,790 1,400 523 111,467 108,313 114 1,528 1,364 (1,642) (1,364) 90,491 94,900 2,268 1,459 (1,377) (1,208) 91,382 95,151 244 369 9 7 253 376 2,156 2,155 32 38 2,188 2,193 569 403 569 403 105 205 3 108 205 11,915 10,915 97 88 12,012 11,003 5,480 2,422 279 257 582 416 6,341 3,095 1,281 622 74 55 1,355 677 4,199 1,800 205 202 582 416 4,986 2,418 180,753 184,661 2,795 2,427 (1,004) (568) 3,706 3,177 186,250 189,697 136,391 144,782 1,290 1,209 (1,004) (568) 136,677 145,423 24,242 29,523 98 98 24,340 29,621 (b) : (), : 2015 2014 85,595 85,361 : 82,981 82,764 2,614 2,597 (i) 25,872 22,952 111,467 108,313 (i),, 二零一五年年度報告 159

2015 (,) (1) (a) (b) (c) 20151231 20141231 11,196 20151231 20141231 41.14% 10.85% 51.99% 42.87% 10.85% 53.72% (2) (1) (3) (2),, : (%) 79.00 ( ) 50.00 ( ) 20.00 39.00 30.00 ( ) 21.43 ( ) 10.20 ( ) 36.00 160 二零一五年年度報告

2015 (,) () (4) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ),,,,,,,,, (5) (a) 2015 2014 11 15 (i) 114 119 (ii) 98 8 (iii) 109 46 (iv) 73 61 (v) 29 24 (vi) 1,704 1,315 (vii) 1,324 780 (viii) 324 316 (ix) 67 75 (x) 515 435 Flying College (xi) 112 169 (xii) 100 89 (xiii) 17 15 (xiv) 1 29 (xv) 108 102 (xvi) 102 96 (xvii) 10 20 (xviii) 20 (xix) 4 4 (xx) 2 (xxi) 2 二零一五年年度報告 161

2015 (,) () (5) () (a) () : 2015 2014 11 15 (i) 114 118 (ii) 98 8 (iii) 90 46 (iv) 66 58 (v) 25 21 (vi) 1,502 1,228 (vii) 1,178 712 (viii) 274 267 (ix) 62 68 (x) 229 241 Flying College (xi) 112 169 (xii) 93 86 (xiii) 17 14 (xiv) 1 23 (xv) 94 88 (xvi) 82 70 (xvii) 10 20 (xviii) 20 (xix) 4 4 (xx) 2 (xxi) 2 (i) (ii) (iii) (iv) (v),,, 162 二零一五年年度報告

2015 (,) () (5) () (a) () (vi), (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) (xv) (xvi) (xvii), Flying College,,, (xviii) (xix) (xx) (xxi), 二零一五年年度報告 163

2015 (,) () (5) () (a) (),,,,, (b) 2015 2014 (i) 12 17 (ii) 23 10 (iii) 3 3 (iv) 1 18 (v) 19 32 (vi) 1 (vii) 16 22 (viii) 1 2 (ix) 21 34 (x) 5 5 (xi) 1 1 (xii) 1 1 (xiii) 1 2 (xiv) 10 12 (xv) 1 : 2015 2014 (i) 12 17 (iii) 3 3 (iv) 13 (v) 19 32 (vi) 1 (vii) 2 15 (viii) 1 2 (x) 5 5 (xiii) 2 (xiv) 10 12 (xv) 1 164 二零一五年年度報告

2015 (,) () (5) () (b) () (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x),,,,,,, ( ),, (xi) (xii) (xiii), (xiv) (xv),, 二零一五年年度報告 165

2015 (,) () (5) () (c) : 2015 2014 33 33 4 : 2015 2014 190 170 3 3 1 (d) ((1))(i) 2,934 20151 201612 (i) 2,280 (i),, 70,000,00066,000,000( 2014: 68,000,00066,000,000) (e) (i) 105 2015427 2016427 4 (i), 166 二零一五年年度報告

2015 (,) () (5) () (f), : 20151231 20141231 320 207 (6) : 20151231 20141231 6 16 2 3 2 2 1 1 11 22 195 243 7 5 6 3 62 3 3 1 5 1 20 10 1 2 1 217 351 二零一五年年度報告 167

2015 (,) () (6) () (): () 20151231 20141231 Flying College 78 98 10 11 88 109 17 3 1 17 4 : 20151231 20141231 2 9 2 2 1 5 11 7 4 6 3 3 3 62 1 5 1 20 10 1 19 107 Flying College 78 98 10 11 88 109 17 3 1 17 4 168 二零一五年年度報告

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