Air China receives approval from the CSRC for registration of A-shares issuance to specific targets

Radar Finance Text | Feng Xiuyu Edited | Li Yihui

On March 9th, Air China (601111) announced that it recently received a reply from the China Securities Regulatory Commission, approving the company’s registration application for a targeted share issuance. The company is required to strictly follow the submission documents and issuance plan filed with the Shanghai Stock Exchange; the approval is valid for 12 months from the date of registration approval; and the company must promptly report to the Shanghai Stock Exchange and handle relevant matters according to regulations if any major issues arise before the issuance is completed.

The company’s board of directors will handle this issuance in accordance with relevant laws, regulations, and the approval documents, as well as the authorization from shareholders’ meetings, and will fulfill information disclosure obligations in a timely manner.

According to Tianyancha data, Air China was established on March 27, 2006, with a registered capital of 17,448.42 million RMB. The legal representative is Liu Tiexiang, and the registered address is Building 1, Floors 1-9, No. 30 Tianzhu Road, Shunyi District, Beijing. Its main business includes providing passenger and cargo air transportation, postal services, and maintenance services within mainland China, Hong Kong, Macau, Taiwan, and internationally.

Currently, the chairman is Liu Tiexiang, the secretary of the board is Xiao Feng, with 105,548 employees. The actual controller is the State-owned Assets Supervision and Administration Commission of the State Council.

The company has stakes in 33 subsidiaries, including Total Transform Group Ltd, AVIC Xingye Co., Ltd., Beijing Golden Phoenix Human Resources Services Co., Ltd., Air China Import and Export Co., Ltd., Zhejiang Airlines Service Co., Ltd., and others.

In terms of performance, the company’s operating revenue for 2022, 2023, and 2024 was 52.898 billion, 141.1 billion, and 166.7 billion RMB, respectively, with year-on-year growth of -29.03%, 166.74%, and 18.14%. Net profit attributable to the parent was -38.619 billion, -1.046 billion, and -237 million RMB, with year-on-year growth of -132.06%, 97.29%, and 77.32%. During the same period, the company’s asset-liability ratio was 92.69%, 89.48%, and 88.16%.

Regarding risks, Tianyancha information shows the company has 336 internal Tianyan risks, 460 surrounding risks, 932 historical risks, and 977 early warning risks.