Juneyao Airlines controlling shareholder pledges more shares

Shanghai Juneyao Airlines Company Limited announced that its controlling shareholder, Juneyao Group, has pledged an additional 12.5m shares. This transaction increases Juneyao Group's total pledged shares to 701m, representing 72.13% of its total holdings in the company and 32.10% of Juneyao Airlines' total share capital. The pledge was made to the Putuo branch of Shanghai Rural Commercial Bank Co., Ltd. and serves as collateral for Juneyao Group's debt obligations.

Juneyao Group's current pledged shares set to mature within the next six months total 381.5m shares, corresponding to a financing balance of 3.033bn yuan. Pledged shares maturing within one year amount to 619.03m shares, with a financing balance of 4.988bn yuan. Another entity, Shanghai Juneyao Aviation Investment Co., Ltd., also has pledged shares maturing within six months totaling 27.5m shares, corresponding to a financing balance of 200m yuan.

Juneyao Group asserts good credit standing and sufficient repayment ability, with future repayment sources including operating income, investment income, and stock dividends. The company believes the pledge risk is controllable and states there is no current risk of a forced liquidation. The pledged shares are not being used for performance compensation or other guarantee purposes related to major asset restructurings.