智通财经网·2026-02-02 06:47Core Viewpoint - China National Airlines (00753) is expected to report significant losses in 2025, with net losses projected between RMB 1.3 billion and RMB 1.9 billion, indicating a challenging financial outlook for the company [1] Financial Performance - For 2024, the company anticipates a net loss of RMB 237 million, with a net loss of RMB 2.54 billion after excluding non-recurring items [1] - In the first three quarters of 2025, the company achieved a cumulative net profit of RMB 1.87 billion, but is projected to incur a loss of RMB 3.17 billion to RMB 3.77 billion in Q4 2025 [1] - The Q4 2025 loss is expected to be larger compared to the same period in 2024, where the net profit was reported at a loss of RMB 1.6 billion [1] Tax Asset Review - The anticipated increase in losses for Q4 2025 is attributed to the company's review of the carrying value of deferred tax assets, leading to a reversal of some deferred tax assets [1]