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Exchange of Hong Kong Limited take no responsibility for the
contents of this announcement, make no representation as to its
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whatsoever for any loss howsoever arising from or in reliance upon
the whole or any part of the contents of this
announcement.
中國國際航空股份有限公司
AIR CHINA
LIMITED
(a joint stock limited
company incorporated in the People's Republic of China with limited
liability)
(Stock
Code: 00753)
Profit Warning
This announcement is made by Air China Limited (the
"Company") pursuant to Rule
13.09 and Rule 13.10B of The Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited (the
"Listing Rules") and the
Inside Information Provisions (as defined in the Listing Rules)
under Part XIVA of the Securities and Futures Ordinance (Chapter
571 of the laws of Hong Kong).
I. ESTIMATED RESULTS FOR
THE PERIOD
(I) Results Estimation
Period
1 January 2024 to 31 December 2024.
(II) Estimated Results
1.
According to the preliminary
estimation by the finance department of the Company, the Company is
expected to record a loss for the year of 2024. It is expected that
the net loss attributable to equity holders of the Company would be
approximately RMB0.16 billion to RMB0.24 billion, and the net loss
attributable to equity holders of the Company after deducting
non-recurring profit or loss would be approximately RMB1.9 billion
to RMB2.7 billion.
2. The estimated results have not been audited by certified
accountants.
II. RESULTS FOR THE
CORRESPONDING PERIOD IN 2023
(I)
Net loss attributable to equity holders of the Company: RMB1.046
billion.
Net loss attributable to equity holders of the
Company after deducting non-recurring profit or loss: RMB3.177
billion.
(II) Earnings per
share: RMB-0.07.
III. MAJOR REASONS FOR THE
ESTIMATED LOSS FOR THE PERIOD
In 2024, the recovery of the civil aviation market
gained momentum. The Company seized market opportunities, made
every effort to enhance efficiency, refined production organization
to improve fleet efficiency, strengthened capacity and pricing
controls to stabilize yield quality and implemented strict cost
controls to promote cost savings. As a result, the Company's
operating quality and efficiency continued to improve, achieving a
significant reduction in losses year-on-year. However, amid an
increasingly complex and volatile operating environment,
intensified competition in the domestic market, heightened
uncertainties in the international market and price fluctuations in
factors such as oil and exchange rates, the Company remained in an
operating loss position in 2024.
IV. RISK ALERT
There are no uncertainties which will affect the
accuracy of the estimated results of the Company.
V. OTHER INFORMATION
The above estimated results are only a preliminary
estimation, and the detailed and accurate financial figures will be
disclosed in the audited annual report of 2024 which will be
formally published by the Company. Investors are reminded to pay
attention to the investment risks.
Shareholders and potential investors of the Company
are advised to exercise caution when dealing in the securities of
the Company.
By Order of the Board
Air
China Limited
Xiao
Feng Huen Ho Yin
Joint Company Secretaries
Beijing, the PRC, 17 January 2025
As
at the date of this announcement, the directors of the Company are
Mr. Ma Chongxian, Mr. Wang Mingyuan, Mr. Cui Xiaofeng, Mr. Patrick
Healy, Mr. Xiao Peng, Mr. He Yun*, Mr. Xu Junxin* and Ms. Winnie
Tam Wan-chi*.
*
Independent non-executive
director of the Company