China Asset Leasing Company Limited (“CALC (TJ)”), a subsidiary of Hong Kong-listed China Aircraft Leasing Group Holdings Limited (HKEx stock code: 01848) announced its results for the first quarter of 2022 (for the three months ended 31 March 2022).

CALC (TJ) continued to reinforce its leading position in the domestic market in China during the period and accomplished solid results.

1. Double-digit growth in revenue and net profit

• Operating income increased by 12.52% yoy to RMB 621 million
• Total revenue (operating income, other gains, investment gains, gains on disposal of assets and non-operating income) reached RMB 652 million with yoy growth of 10.53%
• Net profit for the period increased by 14% year on year to RMB106 million

2. Improved cash flow from operating activities

Net cash flow from operating activities increased significantly by 23.51% yoy to RMB 561 million

3. Total assets and total equity continued to grow

• Total assets amounted to RMB 32.94 billion, increased by 4.07% from the end of 2021
• Total liabilities increased by 5.26% to RMB 24.40 billion from the end of 2021
• Total equity grew by 0.84%, amounting to RMB 8.54 billion

As at March 31, 2022, CALC (TJ)’s fleet consisted of 93 aircraft, including 91 self-owned aircraft and 2 managed aircraft (including aircraft with ownership or with lease income obtained by sublease arrangement). In addition, since the beginning of this year, CALC (TJ) has successfully completed an issue of 3-year RMB1.2 billion corporate bonds through private placing and an issue of RMB1.5 billion medium term notes with a 2+1-year tenor, marking the largest single issuance of RMB bonds ever in the history of the Company, reflecting investors' confidence in CALC (TJ)'s stable performance and abundant liquidity.