China Southern Airlines Co. Ltd. announced that the company expects that the net loss attributable to equity holders of the company for the first quarter ended March 31, 2014 amounts to RMB 0.30 billion to RMB 0.35 billion against net profit attributable to equity holders of the company of RMB 57 million reported for the corresponding period in the previous year. The reasons for estimated decrease in the results: During the first quarter of 2014, the financial expenses of the company substantially increased as compared with the corresponding period of 2013 due to the exchange losses (as compared with the exchange gains for the corresponding period of 2013) resulting from the substantial depreciation of Renminbi.