On November 2, 2022, China Express Airlines Co.,LTD closed the transaction. The company issued 264,673,906 shares at a par value of CNY 1 per share and at an issue price of CNY 9.20 per share for gross proceeds of CNY 2,434,999,935.20. The company incurred CNY 25,397,899.32 issuance expenses.

The net raised funds are CNY 2,409,602,035.88, of which CNY 264,673,906 is added to the registered capital and CNY 2,144,928,129.88 is added to the capital reserve. The transaction included participation from Tongmao Dingzeng No. 2 Private Securities Investment Fund, a fund managed by Guangdong Tongmao Fumin Investment Management Partnership (Limited Partnership) for 6,521,739 shares for CNY 59,999,998.80, UBS Group AG for 23,369,565 shares for CNY 214,999,998, Changjiang Pension Insurance Co., Ltd.-China Pacific Life Insurance Stock Fixed Growth (Individual Dividend) Entrusted Investment Management Special Account for 6,630,434 shares for CNY 60,999,992.80, Caitong Fund Management Co., Ltd. for 30,652,173 shares for CNY 281,999,991.60, E Fund Management Co., Ltd. for 27,500,000 shares for CNY 253,000,000, Nuode Asset Management Co., Ltd. for 26,739,130 shares for CNY 245,999,996, Bosera Fund Management Co., Ltd. for 17,934,782 shares for CNY 164,999,994.40, Penghua Fund Management Co.

Ltd. for 9,239,130 shares for CNY 84,999,996, Liu Ziqi, an individual investor for 6,521,739 for CNY 59,999,998.80, Jinan Jiangshan Investment Partnership (Limited Partnership) for 14,130,434 shares for CNY 129,999,992.80, PingAnAnnuityInsuranceCompanyofChina,Ltd.-Traditional-General Insurance Products for 6521739 shares for CNY 59,999,998.80, Industrial Securities Global Fund Management Co., Ltd. for 14,891,304 shares for CNY 136,999,996.80, Great Wall Wealth Insurance Asset Management Co., Ltd.-Industrial and Commercial Bank of China-Great Wall Fortune Zhuque Hongying No. 1 Assest Management Products for 6,521,739 shares for CNY 59999998.80, Sunshine Asset Management Co., Ltd.-China Merchants Bank-Sunshine Capital Production-Qianheng Tianyi Asset Management Products for 6,630,434 shares for CNY 60,999,992.80, Harvest Fund Management Co., Ltd for 6,521,739 shares for CNY 59,999,998.80, China Express Airlines Holding (Shenzhen) Co., Ltd 39,130,434 shares for CNY 359,999,992.80 , Shenzhen Rongda Supply Chain Management Partnership (Limited Partnership) for 15,217,391 shares for CNY 139,999,997.20. The securities are subjected restricted period for 6 months and 18 months for China Express Airlines Holding (Shenzhen) Co., Ltd and Shenzhen Rongda Supply Chain Management Partnership (Limited Partnership).