PROPOSED CHANGE OF AUDITORS
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.
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)
PROPOSED CHANGE OF AUDITORS
This announcement is made by Air China Limited (the "Company") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
Deloitte Touche Tohmatsu and Deloitte Touche Tohmatsu Certified Public Accountants LLP (collectively, "Deloitte") have been providing audit services to the Company for eight consecutive years. In accordance with the relevant provisions of the Measures for the Administration of Selection
and Engagement of Accounting Firms by State-owned Enterprises and Listed Companies 《( 國有企
業、上市公司選聘會計師事務所管理辦法》), following the procurement process and based on the
results thereof, the board of directors (the "Director(s)") of the Company (the "Board") has resolved, with the recommendation from the Audit and Risk Management Committee (the Supervision Committee) of the Board, to propose to appoint KPMG Huazhen LLP as the Company's domestic auditor and internal control auditor for 2025 and KPMG as the Company's international auditor for 2025 (the "Proposed Appointment"). The estimated annual audit fees for the year 2025 amount to RMB11.149 million, of which the fees for audit and review of financial reports amount to RMB10.149 million and the audit fees for internal control amount to RMB1.00 million, remaining basically unchanged from the previous year's annual audit fees of RMB11.242 million.
The Proposed Appointment is subject to the approval of the shareholders of the Company (the "Shareholder(s)") at the upcoming 2024 annual general meeting of the Company (the "AGM"). Upon approval at the AGM, Deloitte will cease to be the auditors of the Company.
Deloitte has confirmed that there were no matters relating to their retirement as auditors of the Company that need to be brought to the attention of the Shareholders. The Company also confirmed that there was no disagreement between the Company and Deloitte regarding work arrangements, fees or opinions.
The Audit and Risk Management Committee (the Supervision Committee), having reviewed the credentials of KPMG and KPMG Huazhen LLP, including their basic information, personnel details, professional competence, investor protection capability, integrity status and independence, considers that they can meet the requirements for providing audit services to the Company, and the reasons for changing the auditors are sufficient and appropriate.
The Board would like to take this opportunity to express its sincere gratitude to Deloitte for their professional services provided to the Company for the past years.
By Order of the Board
Air China Limited
Xiao Feng Huen Ho Yin
Joint Company Secretaries
Beijing, the PRC, 27 March 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. Xu Niansha*, Mr. He Yun*, Ms. Winnie Tam Wan-chi* and Mr. Gao Chunlei*.
* Independent non-executive director of the Company
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