Air China Limited (00753) intends to participate in the equity financing of Shenzhen Airlines, and Kunhang Investment under Shenzhen State-owned Assets Investment has been shortlisted.

Air China Limited (00753) announced that Shenzhen Airlines plans to conduct equity financing. Shenzhen Airlines intends to conduct equity financing with a total amount of 16 billion yuan, of which the company plans to subscribe to the financing amount according to its shareholding ratio in Shenzhen Airlines (51%), and the total amount of the company's investment in this financing will not exceed 8.16 billion yuan. This financing will be carried out in stages. The initial financing plans to raise 2 billion yuan in cash through the Shenzhen United Equity Exchange by soliciting 1 investor; the company will also increase its capital by 2.082 billion yuan through a non-public agreement. Starting from September 5, 2025, Shenzhen Airlines publicly solicited investors through announcements on the Shenzhen United Exchange, and by the deadline of November 5, 2025, a total of 1 potential investor paid the transaction deposit to the designated account of the Shenzhen United Exchange. On November 6, 2025, Shenzhen Airlines received the "Confirmation of Qualification of Intended Investor" letter issued by the Shenzhen United Exchange, and identified one eligible potential investor, namely Kunhang Investment Partnership Enterprise (Limited Partnership) of Shenzhen City. As of the date of this announcement, Kunhang Investment is a limited partnership enterprise established in China, mainly engaged in investment activities with its own funds. Kunhang Investment is a company controlled by the State-owned Assets Supervision and Administration Commission of Shenzhen Municipality.