CHINA HUIRONG (01290) Establishes Joint Venture for Aircraft Acquisition and Leasing

CHINA HUIRONG (01290) announced that on September 24, 2026, two of its indirectly wholly-owned subsidiaries, Huifang Investment and Huifang Technology, entered into a joint venture agreement with Guochuang Technology to establish a Hong Kong joint venture company, held 49% and 51% by Huifang Investment and Guochuang Technology respectively; and to establish a China joint venture company, held 49% and 51% by Huifang Technology and Guochuang Technology respectively, for the acquisition and leasing of aircraft. Pursuant to the joint venture agreement, the issued share capital of the Hong Kong joint venture company is HK$50,000, to be contributed by Huifang Investment and Guochuang Technology in the proportions of 49% and 51% respectively; the registered capital of the China joint venture company is US$2.5 million, to be contributed by Huifang Technology and Guochuang Technology in the proportions of 49% and 51% respectively; the guarantee commitment amount of the China joint venture company is US$14.42 million, to be borne by Huifang Technology and Guochuang Technology in the proportions of 49% and 51% respectively; and the shareholder loan amount of the China joint venture company is US$3.68 million, to be provided by Huifang Technology and Guochuang Technology in the proportions of 49% and 51% respectively. The total consideration payable and the aggregate guarantee commitment assumed by the Group in respect of the transactions contemplated for the establishment of the joint venture companies amount to approximately RMB68,144,500. Through the establishment of the joint venture companies, the Group will be able to leverage and utilize the experience and expertise of Guochuang Technology to gain access to the aircraft leasing business. The joint venture companies will carry out the business of aircraft acquisition and leasing, thereby generating stable rental income, and will, in light of cyclical changes in the aviation industry, seek potential buyers to sell aircraft at appropriate times, thereby realizing asset disposal gains and enhancing the overall level of investment return. The aircraft leasing business can be regarded as a further extension of the Group's special asset investment business. Through cooperation with the experienced aircraft management partner Guochuang Technology, the Group will explore new development opportunities in aviation asset investment, enrich its asset allocation structure, and implement a diversified operating layout, thereby facilitating the Group's overall long-term strategic development.