China's main board risk warning stocks have a 5% price limit.

China's main board risk warning stocks have a 5% price limit.

On Tuesday, June 24, 2025, Air China Limited held its 2024 Annual General Meeting (AGM) in Beijing. The meeting was attended by a significant number of shareholders, with a total of 12,722,739,966 shares present out of the 17,448,421,000 issued shares [1]. The resolutions proposed at the AGM were comprehensively discussed and voted on by the shareholders.

The poll results indicated overwhelming approval for the ordinary resolutions, with the majority of votes favoring the approval of the 2024 work report of the Board, the audited consolidated financial statements, and the profit distribution proposal for the year 2024. Notably, the resolution to consider and approve the appointment of KPMG as the Company's international auditor and KPMG Huazhen LLP as the domestic auditor and internal control auditor for the year ending December 31, 2025, also received significant support [1].

Among the special resolutions, the one granting the Board a general mandate to issue debt financing instruments and the proposed amendments to the Articles of Associations to abolish the Supervisory Committee garnered substantial approval. These resolutions were passed with more than two-thirds of the votes in favor, indicating strong shareholder support for these changes [1].

The AGM also saw the passage of resolutions related to the renewal of the CNACG Framework Agreement and the entering into a New Framework Agreement with Cathay Pacific, both with significant shareholder approval [1].

One of the notable outcomes of the AGM was the abolition of the Supervisory Committee. The relevant amendments to the Articles of Association were approved, and the Supervisory Committee will no longer be maintained. The Audit and Risk Management Committee under the Board will now exercise the functions and powers previously held by the Supervisory Committee [1].

The meeting was conducted under the scrutiny of Deloitte Touche Tohmatsu, who acted as the scrutineer for the vote-taking process. The company expressed gratitude to all the Supervisors for their contributions during their tenure [1].

These developments highlight Air China's commitment to streamlining its governance structure and enhancing its operational efficiency. Investors should monitor the implementation of these resolutions and their potential impact on the company's financial performance and shareholder value.

References:
[1] https://www.tradingview.com/news/reuters.com,2025-06-25:newsml_RSY3398Oa:0-reg-air-china-ld-poll-results-of-2024-annual-general-meeting/