Air China Ld Profit Warning (3395O)
31 January 2023 - 6:00PM
UK Regulatory
TIDMAIRC
RNS Number : 3395O
Air China Ld
31 January 2023
Hong Kong Exchanges and Clearing Limited and The Stock Exchange
of Hong Kong Limited take no responsibility for the contents of
this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this announcement.
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 2022 to 31 December 2022.
(II) Estimated Results
1. According to the preliminary estimation by the finance
department of the Company, the Company recorded a loss for the year
of 2022. It is expected that the net loss attributable to equity
holders of the Company would be approximately RMB37.0 billion to
RMB39.5 billion, and the net loss attributable to equity holders of
the Company after deducting non-recurring profit or loss would be
approximately RMB37.2 billion to RMB39.9 billion.
2. The estimated results have not been audited by certified accountants.
II. RESULTS FOR THE CORRESPONDING PERIOD IN 2021
(I) Net loss attributable to equity holders of the Company: RMB16.642 billion.
Net loss attributable to equity holders of the Company after
deducting non-recurring profit or loss: RMB17.056 billion.
(II) Earnings per share: RMB-1.21.
III. MAJOR REASONS FOR THE ESTIMATED LOSS FOR THE PERIOD
In 2022, due to the continued impact of COVID-19 pandemic,
passenger travel demand remained low. The markets of the main bases
of the Company suffered repeated impacts of the pandemic. In
particular, the capacity and total traffic in Beijing market have
fallen to the lowest level since the start of the pandemic.
Meanwhile, due to multiple adverse factors such as high oil prices
and exchange rate fluctuations, it is more difficult for the
Company to improve its operation, and the invested enterprises
related to the main business were also seriously affected.
In the face of pandemic, the Company has been determined to
control losses and extricate itself from difficulties, coordinating
overall arrangements for safe operation, pandemic prevention and
control, production and operation to maintain the overall stability
of business situation. The Company has taken measures such as
maintaining production scale, articulating marketing control,
insisting on passenger and cargo linkage, tightening cost control
and strengthening capital coordination, so as to minimize the
adverse impact caused by the pandemic.
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 2022 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
Huang Bin Huen Ho Yin
Joint Company Secretaries
Beijing, the PRC, 30 January 2023
As at the date of this announcement, the directors of the
Company are Mr. Ma Chongxian, Mr. Feng Gang, Mr. Patrick Healy, Mr.
Li Fushen*, Mr. He Yun*, Mr. Xu Junxin* and Ms. Winnie Tam Wan-
chi*.
* Independent non-executive director of the Company
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END
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