Shenzhen International Joint Venture Company Shenzhen Airlines plans to increase capital and expand shares in phases totaling 16 billion yuan

Shenzhen International announced that its joint venture Shenzhen Airlines plans to increase its capital by RMB 16 billion in phases, and the group will not participate in this capital increase. The first phase will introduce new investors, and it is expected that the group's equity in Shenzhen Airlines will be diluted from 49% to approximately 28.09%. Air China holds 51%, and new investors will not exceed 20.91%. Subsequent capital increases will be conducted based on funding needs. The group believes that not participating in the capital increase will help concentrate resources on core businesses and will not have a significant impact on normal operations and financial status