AIR CHINA (00753) plummeted over 8%, hitting HK$5.58 at the time of writing, down 8.67% with a turnover of HK$69.83 million. The company reported revenue of RMB 129.83 billion for the first three quarters, up 1.31% year-on-year, while net profit rose 37.31% to RMB 1.87 billion. However, Q3 revenue grew marginally by 0.9% to RMB 49.07 billion, with net profit declining 11.31% to RMB 3.68 billion.

Additionally, AIR CHINA announced plans for a private placement of up to 3.044 billion A-shares to its parent company, China National Aviation Holding Corporation, and its wholly-owned subsidiary at RMB 6.57 per share, aiming to raise no more than RMB 20 billion. The proceeds will be used for debt repayment and working capital. Both entities intend to subscribe in full via cash.