China Southern Airlines shareholders approve new leases, abolish supervisory committee

China Southern Airlines Company Limited held its first extraordinary general meeting of 2025, where shareholders approved all proposed resolutions. The total number of voting shares represented was 13,538,597,418, comprising 74.71% of the total shares. Key approvals included the provision of guarantees by Xiamen Airlines Company Limited for 2026, the renewal of a financial services framework agreement with China Southern Airlines Group Finance Company Limited, and a finance and lease service framework agreement with China Southern Air Leasing Company Limited.

A significant outcome was the approval of amendments to the Articles of Association and the abolishment of the Supervisory Committee, along with its related corporate governance systems. Resolutions 1 to 3 received over 50% of valid votes in favor, while resolutions 4 to 6 received over two-thirds. Following this approval, the company will no longer have a Supervisory Committee.

Additionally, the company renewed its asset lease framework agreement with CSAH for a three-year term starting January 1, 2026, to December 31, 2028. This consolidates existing property, land, and asset lease agreements, with annual caps for rent payable by the company to CSAH set at RMB428.0482 million for 2026, RMB446.3212 million for 2027, and RMB446.3212 million for 2028. The aggregate value of the right-of-use asset recognized under the Proposed Transactions is RMB1,195,328,700.