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Annual Report Corporate Profile Tel: (8610) 5765 0696 Fax: (8610) 5765 0695 Email: [email protected] Address: TravelSky High-Tech Industrial Park, Houshayu Town, 2020 Shunyi District, Beijing, PRC Postal Code: 101318 Website: www.travelskyir.com 2020 ANNUAL REPORT CORPORATE PROFILE TravelSky Technology Limited (the “Company”, together with its subsidiaries, the “Group”) is the dominant provider of information technology solutions for China’s aviation and travel industry. The core business of the Company includes aviation information technology service, distribution information technology service, accounting, settlement and clearing service for aviation industry, etc. The Group has been devoted to developing leading products and services that satisfy the needs of all the industry participants – ranging from commercial airlines, airports, air travel products and services suppliers to travel agencies, corporate clients, travelers and cargo shippers – to conduct electronic transactions and manage travel-related information. The Company was incorporated in the People’s Republic of China (the “PRC” or “China”) on October 18, 2000. The H shares of the Company were listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) (stock code: 00696) on February 7, 2001. On December 27, 2002, the American depositary shares under the Sponsored Level I American Depositary Receipt Programme established by the Company commenced trading on the U.S. over-the-counter market (OTC). Since 2015, the H shares of the Company has been added to the lists of MSCI Emerging Markets Index, Hang Seng Composite LargeCap & MidCap Index, Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, etc. As of the date of this report, the largest shareholder of the Company is China TravelSky Holding Company Limited, which holds an equity interest of approximately 29.29% in the Company. A total of approximately 38.84% of the equity interest in the Company is held by 14 domestic shareholders, including China Mobile Capital Holding Co., Ltd., China National Aviation Holding Company Limited, China Southern Air Holding Company Limited and China Eastern Air Holding Company Limited. The remaining 31.87% of the equity interest in the Company is held by holders of its H shares. As of December 31, 2020, the Group has more than 20 domestic subsidiaries in China, including Accounting Centre of China Aviation Limited Company (“ACCA”), Cares Shenzhen Co., Ltd., Civil Aviation Cares of Qingdao Ltd., etc. The Group has nearly 10 overseas wholly-owned subsidiaries in many regions and countries, including Hong Kong, Singapore, Korea, Japan, USA, etc. Meanwhile, the Group holds equity interests in over 10 associates, including Shanghai Civil Aviation East China Cares System Integration Co., Ltd., Aviation Cares of Southwest Chengdu, Ltd., TravelSky Mobile Technology Limited, etc. The Group had 7,156 employees as of December 31, 2020. CONTENTS Corporate Profile Development History 2 Financial Highlights 4 Statement of the Board 6 Business Review 8 Management Discussion and Analysis of Financial Condition and Results of Operations 16 Corporate Governance Report 29 Report of Directors 48 Report of Supervisory Committee 83 Auditor’s Report 85 Consolidated and Company Balance Sheet 92 Consolidated and Company Income Statement 98 Consolidated and Company Cash Flow Statement 103 Consolidated and Company Statement of Changes in Owners’ Equity 107 Notes to the Financial Statements 111 Biographies of Directors, Supervisors, Senior Management and Company Secretary 284 Corporate Information 296 TRAVELSKY TECHNOLOGY LIMITED DEVELOPMENT HISTORY In 1979 In 1987 In 1996 In 2001 In 2003 In 2007 In 2009 In 2017 In 2020 So far China Aviation set up an The CAAC decided Civil Aviation The Company's H The Company The Company provided civil ACCA became the The development of ‧ The Company was certified as The Company has organization to conduct to establish the Civil Computer Center of shares were completed the aviation passenger world’s largest the new-generation a“High and New Technology successfully completed research on the Aviation Computer China was renamed successfully listed on construction project information security services billing and passenger service Enterprise” for 20 consecutive the security tasks of civil establishment of a Center of China*（中 as China Civil the Main Board of the of the airport for the Beijing Olympic settlement plan information system years. aviation passenger ‧ The Company was granted computerized passenger 國民用航空計算機中 Aviation Computer Stock Exchange passenger Games, expanded data processing was completed and information systems for “20th Anniversary Partner service system for civil 心 ）. Information Center* (Stock Code: processing system mainframe and opened center. the new data centre Award（20週年合作夥伴獎）” many times during the aviation, the key projects （中國民航計算機信 00696.HK) with an (APP) for the top 100 platform resources, built in Shunyi, Beijing, by IATA. Spring Festival travel of the National“Seventh 息中心） ( the issue price of domestic airports in mainframe and opened was gradually put ‧ The former wholly-owned rush, the National Day, Five-Year” Electronic predecessor of the HKD4.10 per share terms of passengers. backup system, and into use. subsidiary of the Company, the National People’s Revitalization Plan*（國家 Company and its and a market value improved the backup TravelSky Mobile Technology Congress of the 「七五」電子振興計劃）, and subsidiaries, China of approximately system of new- Limited*（中國航信移動科技有 People’s Republic of other relevant issues. TravelSky Holding HKD3.6 billion. generation airport 限公司） (now as an associated China and the Chinese Company), and was passenger processing company which provided People’s Political service with mobile restructured from an front end system Consultative Conference, application,“Umetrip”, as institution into an (NewAPP). major product) completed International Summit enterprise. mixed-ownership reform and Forum, Expo and other employee stock ownership major activities of the plan. Party and the State. ‧ Our self-developed platform, “Baggage Travel”, was recognized as the public information platform of the full-process baggage tracking system of civil aviation of China by CAAC. 1979 1984 1987 1991 1996 2000 2001 2003 2004 2007 2008 2009 2011 2015 2017 2019 2020 2021 From 1984 to 1985 In 1991 From 2000 to 2001 In 2004 In 2008 In 2011 From 2015 to 2016 In 2019 On ‧ In 1984, the Civil Aviation Accounting Centre of China ‧ In 2000, the Company was ETD system ‧ TravelSky Technology ETD system processing ‧ The H shares of the ‧ The Company obtained February 7, Computer Station*（民航計算 Aviation*（中國航空結算 jointly founded by China processing capacity Limited was the first in capacity exceeded 300 Company were added to the the certificate for 2021 機總站） under the State 中心） the predecessor of Civil Aviation Computer exceeded 100 million the world to realize the million passengers. lists of MSCI Emerging “Important Software Administration of Civil ACCA, (a wholly-owned Information Center*（中國民 passengers. 100% electronic Markets Index, Hang Seng Enterprise under the The Company has application of airline Aviation*（民航總局） (now subsidiary of the Company) 航計算機信息中心） and all A mobile Internet- Composite LargeCap & National Planning Layout” been listed for 20 tickets and was granted known as the Civil Aviation was established and China domestic commercial oriented mobile MidCap Index, for 14 consecutive years. years with the market Administration of China) (the airlines. “Simplified Business value of more than Aviation Revenue Accounting Strategic Partner Global application,“Umetrip” Shanghai-Hong Kong Stock ‧ The“Aggregator（聚合）” “CAAC”) was established. ‧ In 2001, the main project of HKD50 billion. System*（中國航空收入結算系 Outstanding was independently Connect and Shenzhen- platform based on new ‧ In 1985, Inventory Control Electronic Travel Distribution 統） was launched 3 years later. Contribution Award* researched and Hong Kong Stock Connect. distribution capability System (ICS) and civil (ETD) system service plan （簡化商務戰略合作夥伴 aviation and commercial data was inspected and developed. ‧ In 2015, the Company (NDC) was awarded the 全球傑出貢獻獎）” by network were established. accepted by the State. obtained the first batch of highest NDC level 4 International Air National Operation and certification by IATA. Transport Association Maintenance Qualification ‧ ETD system daily (“ IATA”). Certificate-Level 1*（運行維 processing capacity ‧ The Company acquired all registered capital 護一級資質證書）. approached 700 million and properties of ‧ In 2016, ETD system passengers and ranked ACCA. processing capacity third in the world for 3 2 exceeded 500 million consecutive years in passengers. terms of system processing capacity. ANNUAL REPORT 2020 Development History In 1979 In 1987 In 1996 In 2001 In 2003 In 2007 In 2009 In 2017 In 2020 So far China Aviation set up an The CAAC decided Civil Aviation The Company's H The Company The Company provided civil ACCA became the The development of ‧ The Company was certified as The Company has organization to conduct to establish the Civil Computer Center of shares were completed the aviation passenger world’s largest the new-generation a“High and New Technology successfully completed research on the Aviation Computer China was renamed successfully listed on construction project information security services billing and passenger service Enterprise” for 20 consecutive the security tasks of civil establishment of a Center of China*（中 as China Civil the Main Board
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