After the close of trading hours on 29 April 2024, China Southern Airlines Co., Ltd. (“China Southern Airlines”) signed a supplemental agreement with the Chuanair Group to jointly promote the listing of Sichuan Airlines. Under the Supplemental Agreement, if Sichuan Airlines fails to go public in 2028, China Southern Airlines will have the right to transfer its shareholding in Sichuan Airlines. The transfer price will be determined at a higher interest rate based on the valuation of the assets or the total amount of actual capital invested and subject to compliance with national asset regulatory requirements. If no other shareholders or third parties subscribe, Chuanang Group will be required to subscribe in full. The move is designed to safeguard China Southern Airlines' incremental...Show More

After the close of trading hours on 29 April 2024, China Southern Airlines Co., Ltd. (“China Southern Airlines”) signed a supplemental agreement with the Chuanair Group to jointly promote the listing of Sichuan Airlines. Under the Supplemental Agreement, if Sichuan Airlines fails to go public in 2028, China Southern Airlines will have the right to transfer its shareholding in Sichuan Airlines. The transfer price will be determined at a higher interest rate based on the valuation of the assets or the total amount of actual capital invested and subject to compliance with national asset regulatory requirements. If no other shareholders or third parties subscribe, Chuanang Group will be required to subscribe in full. The move is designed to safeguard China Southern Airlines' incremental security of Sichuan Airlines and safeguard the overall interests of the company. The Supplemental Agreement does not constitute a publicly available transaction and China Southern Airlines will comply with the requirements of the Listing Rules. Investors and shareholders should note that the listing of Sichuan Airlines is not inevitable and caution should be exercised when buying and selling China Southern Airlines securities.