Summary by Moomoo AI
China Southern Airlines Co., Ltd. (“China Southern Airlines”) issued a notice on March 27, 2024 that, according to an audit report issued by the accounting firm of Pimmawei Huazhen, the consolidated report of the company showed that the unrecovered loss amounted to RMB368.88 billion for the year ended December 31, 2023, exceeding the realized share capital One third of the total. This situation is subject to submission to the General Meeting for consideration. The announcement noted that the main reasons for the company's operating loss in 2023 include a slow domestic economic recovery, weak consumer spending capacity, oil cost pressures, supply chain problems and the depreciation of the RMB, among others. Despite efforts to make a full effort in terms of revenue, costs, management and...Show More