Juneyao Airlines' major shareholder partially releases and pledges shares

Shanghai Juneyao Airlines (SSE:603885) announced that its controlling shareholder, Juneyao Group, has released 3.1 million shares from pledge and simultaneously pledged the same amount. Following the transaction, Juneyao Group continues to hold 1,020,862,080 shares, representing 46.42% of the company. After this transaction, Juneyao Group's cumulative pledged shares remain at 81,275,000, representing 79.61% of its holdings and 36.96% of Juneyao Airlines' total share capital. The pledge is to Shanghai Pudong Development Bank for Juneyao Group's debt obligations. Juneyao Group stated its financial position is sound and it has resources to manage its pledged share positions.