POSITIVE PROFIT ALERT
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)
POSITIVE PROFIT ALERT OF THE RESULTS FOR THE FIRST THREE QUARTERS OF 2015
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
1. Period of the estimated results: 1 January 2015 to 30 September 2015
2. Estimated results:
According to the preliminary estimation of the Company in accordance with the China Accounting Standards for Business Enterprises, the net profit attributable to equity holders of the Company for the first three quarters of 2015 is expected to be between RMB6.1 billion and RMB6.3 billion, representing a year-on-year growth of 92% to 100%.
3. The estimated results were not audited.
II. RESULTS FOR THE CORRESPONDING PERIOD IN 2014
1. Net profit attributable to equity holders of the Company: RMB3.157 billion
2. Earnings per share: RMB0.26
III. MAJOR REASONS FOR ESTIMATED INCREASE IN THE RESULTS FOR THE PERIOD
During the first three quarters of 2015, in terms of revenues, the Company captured strong market demand especially in peak seasons such as the Spring Festival and the summer vacation, and achieved a year-on-year growth in revenue as a result of its increased capacity deployment, continuous operational improvements and better yield management and inventory control. In terms of costs, the Company optimised business processes, improved the matching of aircraft models and routes and continued to exploit its potentials in cost reduction through refined management on major cost items, promoting direct sales and lowering agency fees. At the same time, benefiting from the substantial decrease in the price of aviation fuel, the Company recorded a year-on-year reduction in costs in the first three quarters of 2015.
IV. OTHER MATTERS
The estimated results above are only preliminary figures, and the specific and accurate financial figures of the Company will be officially disclosed in the unaudited 2015 third 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.
By order of the Board
Air China Limited Rao Xinyu Tam Shuit Mui
Joint Company Secretaries
Beijing, the PRC, 15 October 2015
As at the date of this announcement, the directors of the Company are Mr. Cai Jianjiang, Ms. Wang Yinxiang, Mr. Cao Jianxiong, Mr. Feng Gang, Mr. John Robert Slosar, Mr. Ian Sai Cheung Shiu, Mr. Song Zhiyong, Mr. Fan Cheng, Mr. Fu Yang*, Mr. Pan Xiaojiang*, Mr. Simon To Chi Keung* and Mr. Stanley Hui Hon-chung*.
* Independent non-executive Director of the Company
This information is provided by RNS
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