China's Spring Airlines Controlling Shareholder Proposes to Repurchase Company Shares with 300-500 Million Yuan

en.Wedoany.com Reported - On the evening of March 31, China's Spring Airlines issued an announcement stating that the company's controlling shareholder, Shanghai Spring International Travel Service (Group) Co., Ltd., submitted a "Letter of Proposal for Share Repurchase by Spring Airlines Co., Ltd." The proposal suggests that the company repurchase some of its issued Renminbi ordinary shares (A-shares) through centralized bidding transactions, with the total repurchase amount not less than 300 million yuan (inclusive) and not exceeding 500 million yuan (inclusive). All repurchased shares will be used to maintain the company's value and shareholders' equity, and will subsequently be sold through centralized bidding transactions.

The announcement shows that regarding this repurchase proposal, the controlling shareholder, Spring Travel, believes that due to macroeconomic fluctuations, the current company stock price has deviated from the company's true investment value. To fully safeguard the interests of the company and all investors, stabilize capital market and investor expectations, and enhance market confidence, and based on confidence in the company's future development prospects and recognition of the company's value, focusing on the company's sustainable development and value growth, and considering factors such as the company's operating conditions and financial status, after prudent study, Spring Travel proposes that the company use its own funds and raised funds to repurchase some of its issued Renminbi ordinary shares (A-shares) through the Shanghai Stock Exchange trading system via centralized bidding transactions. All repurchased shares will be used to maintain the company's value and shareholders' equity.

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