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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 30 June 2024.
(II) Estimated Results
1. According to the preliminary estimation by the finance
department of the Company, the Company recorded a loss for the six
months ended 30 June 2024. It is expected that the net loss
attributable to equity holders of the Company would be
approximately RMB2.3 billion to RMB3.0 billion, and the net loss
attributable to equity holders of the Company after deducting
non-recurring profit or loss would be approximately RMB2.8 billion
to RMB3.8 billion.
2. The estimated results have not been audited by certified
accountants.
II. RESULTS FOR THE
CORRESPONDING PERIOD OF THE PREVIOUS YEAR
(I)
Total loss: RMB4.365 billion.
Net loss attributable to equity holders of the
Company: RMB3.451 billion.
Net loss attributable to equity holders of the
Company after deducting non-recurring profit or loss: RMB4.938
billion.
(II) Earnings per
share: RMB-0.22.
III. MAJOR REASONS FOR THE ESTIMATED LOSS FOR
THE PERIOD
In 2024, the sustained recovery of China's economy
has driven an overall increase in demand in the aviation market.
Seizing the market opportunity, the Company has made significant
efforts to enhance quality and efficiency. By maximizing marginal
contributions in production, focusing on stabilizing revenue
through price stability and business volume competition,
adopting the concept of "living within our means"
("過緊日子") for cost reduction and
efficiency gains and deepening collaboration to
promote development, the Company has seen a
steady improvement in operating performance in the
first half of the year, achieving significantly reduced losses
compared to the same period last year. However, due to the
slower-than-expected recovery of international routes, intensified
domestic market competition and factor price fluctuations in oil
prices and exchange rates, the Company still experienced operating
losses in the first half of the year.
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 preliminary
estimation, and the detailed and accurate financial figures will be
disclosed in the 2024 interim report which will formally be
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, 11 July 2024
As
at the date of this announcement, the directors of the Company are
Mr. Ma Chongxian, Mr. Wang Mingyuan, Mr. Feng Gang, Mr. Patrick
Healy, Mr. Xiao Peng, Mr. Li Fushen*, Mr. He Yun*, Mr. Xu Junxin*
and Ms. Winnie Tam Wan-chi*.
*
Independent non-executive
director of the Company