Spring Airlines' controlling shareholder adjusts share pledges

Shanghai Spring International Travel Service (Group) Co., Ltd. ("Spring International Travel"), the controlling shareholder of Spring Airlines, has recently undertaken a series of share pledge adjustments. As of October 24, 2025, Spring International Travel extended the pledge on 4,510,000 shares, originally pledged to CITIC Securities Co., Ltd., with the new pledge expiring on October 23, 2026. This extension, representing 0.46% of Spring Airlines' total share capital, is for providing performance guarantees for financial institution loans.

Concurrently, Spring International Travel also released pledges on a total of 9,490,000 shares on October 23 and 24, 2025. Following these transactions, Spring International Travel's cumulative pledged shares now total 35,910,000, representing 7.13% of its holdings in Spring Airlines and 3.67% of Spring Airlines' total share capital.

Spring International Travel, holding 504,000,000 shares or 51.52% of Spring Airlines, affirms its sound financial standing and ability to repay through self-owned funds, investment income, and operating revenue. The company maintains that the pledge risk is controllable, with no risk of forced liquidation or changes in control, and will implement measures like early repayment or additional pledges if the share price approaches warning lines.