Juneyao Airlines updates share repurchase, board changes, and governance

Shanghai Juneyao Airlines Co., Ltd. has updated its share repurchase program, with 35,296,686 shares repurchased totaling 447,953,924.73 yuan, representing 1.62% of total share capital. The repurchase, initiated on January 27, 2025, aims to reduce registered capital and for employee stock ownership or equity incentives, with 15 million shares already retired on July 1, 2025. The repurchase price range is 11.93 yuan to 13.46 yuan per share.

Concurrently, the company held its Fifth Board of Directors' Twentieth Meeting and First Extraordinary General Meeting on October 9, 2025. The board elected Mr. Xia Haibing as an employee representative director, with his term effective from the date of the Employee Representative Congress election until the end of the Fifth Board of Directors' term. Mr. Xia Haibing, currently a vice president, also resigned from his board director position and his role on the Risk Management Committee due to internal work adjustments but will continue other roles at the company.

Shareholders at the Extraordinary General Meeting approved several amendments to the company's articles of association and internal governance documents, including the cancellation of the Supervisory Board and revisions to the Articles of Association and rules governing shareholder and board meetings. These changes reflect an ongoing effort to enhance corporate governance and operational efficiency.