China Southern Airlines Company Limited provided earnings guidance for the year ended 31 December 2020. For the year, based on preliminary financial information prepared by the finance department of the company, the company expects to record a loss in the results for the year of 2020, and a net loss attributable to shareholders of the company of approximately RMB 7,907 million to RMB 10,861 million. The net loss after deducting the non-recurring profit or loss attributable to shareholders of the Company is estimated to be approximately RMB 8,423 million to RMB 11,764 million. Major reasons for the estimated loss in results for this period: During the reporting period, an outbreak of COVID-19 pandemic erupted and rapidly spread worldwide. In the face of unprecedented difficulties, the Company took pandemic prevention and control as part of its normal operations. The Company seized market opportunities to adopt various measures to increase passenger and freight revenue, strengthened its cost control and make every effort to reduce the losses caused by the pandemic, and actively sought policy support. However, affected by the COVID-19 pandemic, the travelling willingness of passengers dropped sharply, which had a significant impact on the global aviation industry. In 2020, the passenger capacity (measured by available seat kilometres) and revenue passenger kilometres of the company decreased by 37.59% and 46.15%, respectively as compared to the same period last year. Of which, the passenger capacity and revenue passenger kilometres for international routes decreased by 80.63% and 84.88%, respectively as compared to the same period last year. The revenue per seat kilometre also reduced significantly. Accordingly, the Company expects to record a loss in the operating results for the year of 2020.