Air China Limited: Profit Warning
21-Apr-2014 This announcement is made by Air China Limited (the "Company") pursuant to Rule 13.09 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 BETWEEN 1 JANUARY 2014 TO 31 MARCH 2014
1. According to the preliminary estimation of the finance department of the Company, the net profit attributable to equity holders of the Company for the first quarter of 2014 in accordance with the "China Accounting Standards for Business Enterprises" is expected to decrease by 55% to 65% compared to that of the corresponding period in 2013.
2. The estimated results have not been audited.
II. RESULTS FOR THE CORRESPONDING PERIOD IN 2013 (1 JANUARY 2013 TO 31 MARCH 2013)
1. Net profit attributable to equity holders of the Company: RMB249 million
2. Earnings per share: RMB0.02
III. MAJOR REASONS FOR ESTIMATED DECREASE IN THE RESULTS
During the first quarter of 2014, the financial expenses of the Company substantially increased as compared with the corresponding period of 2013 due to the exchange losses (as compared with the exchange gains for the corresponding period of 2013) resulting from the substantial depreciation of Renminbi.
IV. OTHER RELATED MATTERS
The above estimated results is only the preliminary estimation, and the specific and accurate financial figures of the Company will be officially disclosed in the 2014 firstly quarterly report of the Company. Investors are reminded to consider the risks involved in making investment decisions.
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.