China Express Airlines repays idle funds, backs subsidiary's financing

China Express Airlines announced the partial return of idle raised funds, with 217,494,289.95 yuan being repaid to a dedicated account on December 12, 2025. This follows a resolution passed on May 8, 2025, to temporarily supplement working capital with up to 1,390,000,000.00 yuan from 2022 non-public offering proceeds. As of the announcement date, 458,014,684.94 yuan in idle raised funds remains to be returned.

Concurrently, the company provided a joint liability guarantee for its wholly-owned subsidiary, Yunfei Aircraft Leasing (Shanghai) Co., Ltd., with Shanghai Pudong Branch of Shanghai Bank. This guarantee covers a principal amount of 79,410,000.00 yuan related to a domestic seller factoring financing agreement. This guarantee falls within the previously approved 1,700,000,000.00 yuan credit facility for wholly-owned subsidiaries.

As of December 16, 2025, China Express Airlines and its subsidiaries' cumulative external guarantees total 942,619,800.00 yuan, representing 28.07% of the company's net assets as of December 31, 2024. The company confirmed no overdue external guarantees, litigation-related guarantees, or losses from adjudicated guarantee lawsuits.