China Express Airlines announces share buyback program, employee incentives

China Express Airlines has announced a share repurchase program, committing between CNY 80 million and CNY 160 million to buy back its A-share ordinary stock. The repurchase price will not exceed CNY 13.54 per share, with the repurchased shares intended for employee stock ownership plans or equity incentives. The company anticipates repurchasing between 5,908,420 and 11,816,839 shares, representing 0.46% to 0.92% of its total share capital. The program is set to commence following approval from the Board of Directors and will last up to six months.

The buyback will be funded by a combination of the company's own capital and a dedicated stock repurchase loan of up to CNY 144 million from China CITIC Bank Chongqing Branch, with a loan term not exceeding 36 months and an annual interest rate of 1.80%. This initiative is part of the company's strategy to strengthen its long-term incentive mechanisms, foster sustainable growth, and generate value for shareholders.

The Board of Directors approved the repurchase plan on September 15, 2025. According to the company, this buyback will not negatively impact its operations, financial position, R&D capabilities, debt servicing ability, or its listed status. As of June 30, 2025, the maximum repurchase amount of CNY 160 million represents 0.74% of the company's total assets, 4.42% of net assets attributable to shareholders, and 2.71% of current assets.