April 28，188bet online casino games (002928) releases 2019 annual report。Data display，2019，188bet online casino games revenue、Double increase in net profit。

Among them，Operating income increased by 26% 188bet online casino games93% to 54.0.7 billion yuan，Attributable net profit increased by 102% 188bet online casino games96% to 5.0.2 billion yuan，Excluding non-net profit increased by 164% 188bet online casino games43% to 4.9.2 billion yuan，Net cash flow from operating activities increased by 102% 188bet online casino games21% to 10.5.4 billion yuan，Basic earnings per share increased by 99% 188bet online casino games52% to 0.8360 yuan，Cash dividend 0 for every 10 shares.76 yuan (tax included)。

It is worth mentioning，2018，188bet online casino games’ attributable net profit、Non-net profit after deduction fell -33 respectively.87% and -48.26%。

What is different from other listed airlines，188bet online casino games is the only large-scale independent regional airline in China，That is, airlines that mainly operate flights between non-mainline cities。As of the end of the reporting period，188bet online casino games has 147 active routes，141 domestic routes，6 international routes，131 solo routes，Solo routes account for 89% of the company’s routes；114 navigable cities，There are 5 international destination cities；Regional destinations account for 42% of all domestic regional airports。As of the end of 2019，188bet online casino games has a total of 38 CRJ900 series regional aircraft and 11 A320 series aircraft。

The main business of 188bet online casino games is air passenger and cargo transportation，Including domestic (including Hong Kong, Macao and Taiwan)、International air passenger and cargo transportation business，And gradually expand the air passenger and cargo business to aviation training、Travel、Fresh food and other business。Last year，Air transport industry achieves revenue of 52.7.7 billion yuan，24 year-on-year increase.87%，97% of total revenue.59%，Gross profit margin is 12.01%，Decreased by 1 year-on-year.95%；Other businesses achieved revenue 1.3.1 billion yuan，280 year-on-year increase.42%，2% of total revenue.41%，Gross profit margin is 47.26%。

Passenger revenue was still 188bet online casino games’ main source of revenue last year。During the reporting period，188bet online casino games’ passenger revenue achieved 52.6.6 billion yuan，YoY growth of 32.79%，97% of total revenue.39%，Gross profit margin is 10.74%；Freight revenue achieved 1080.960,000 yuan，72 year-on-year increase.65%，0% of total revenue.20%。

Last year，188bet online casino games’ operating cost is 47.1.2 billion yuan，28 year-on-year increase.83%，Higher than revenue growth，Overall gross profit margin decreased by 1.3%。

Aviation fuel is one of the most important components of airline production costs，Fluctuations in aviation fuel market prices have a greater impact on airline production costs，In turn affecting the airline’s profit level。Jet fuel cost is 188bet online casino games’ largest main business cost，Last year，Aviation fuel costs increased by 31% year-on-year.03% to 14.7.7 billion yuan，31% of operating costs.35%。

Also，The company’s R&D investment has increased significantly，1182 188bet online casino games1% to 565.30,000，All R&D investment is expensed，Not capitalized。

188bet online casino games’ interest-bearing debt is mainly in RMB、US dollar debt mainly，The company will purchase aircraft in the future、The procurement costs of aviation materials and other sources from overseas will also be affected by exchange rate fluctuations。Last year，The impact of exchange rate changes on 188bet online casino games’ cash and cash equivalents is -22.210,000 yuan，187 for the same period last year.450,000 yuan。

Same day，188bet online casino games releases 2020 first quarter report，Data display，First quarter of this year，188bet online casino games’ operating income fell by 15% year-on-year.97% to 10.5 billion yuan，Attributable net profit fell 212% year-on-year.50% to -9625.430,000 yuan，Net profit after deducting non-profit items fell by 220% year-on-year.78% to -9710.840,000 yuan，Net cash flow from operating activities increased by 225% year-on-year.94% to 9860.550,000 yuan，Basic earnings per share is -0.1602 yuan。

First quarter of 2020，188bet online casino games passenger turnover dropped 29% year-on-year.94% to 13.420,000 kilometers，Among them, domestic decline was 30.04% to 13.120,000 kilometers，International year-on-year increase of 92.14%，Passenger load factor fell 17% year-on-year.66% to 63.18%；Cargo and mail turnover increased by 41% year-on-year.29% to 339.380,000 ton kilometers，Cargo and mail load factor increased by 1 year-on-year.21% to 4.12%。

188bet online casino games said，Affected by the novel coronavirus pneumonia epidemic in the first quarter of this year，Passenger travel suddenly dropped sharply from the peak before the Spring Festival，February is more severely affected，Start gradually recovering in March，Company flight execution rate、Passenger load factors dropped significantly year-on-year，Corresponding decrease in operating income。

Company representation，Based on market changes and regional route network characteristics during the epidemic，Taking a series of countermeasures，Strive to minimize the impact 188bet online casino games epidemic，As of March 2020，The average recovery rate 188bet online casino games company’s flights in a single month is 67%。

*Source of this article: Beijing News，Author: Zhang Zeyan, original title:《188bet online casino games’ revenue last year、Net profit increased but Q1 net profit fell by more than 200%》。