HNA Infrastructure Industrial Group Co., Ltd. agreed to acquire in Hainan Sky Plumage Flight Training Co., Ltd. from Hainan Airlines Holding Co., Ltd. (SHSE:900945) for approximately CNY 750 million on May 27, 2020. Payment will be done in 2 installments. A 1st installment of 90% of the transactional price payable within 3 days since signing of the agreement and a 2nd installment for the remaining 10% payable 3 days since completion of change of registry procedures. This transaction will be submitted to Hainan Airlines Holding's shareholders' meeting for consideration. The transaction has been reviewed and approved at the seventh meeting of the ninth Board of Directors of Hainan Airlines Holding. On June 11, 2020, the transaction was approved by the shareholders of HNA Infrastructure Investment Group Co.,LTD (SHSE:600515), the parent of HNA Infrastructure Industrial at the Extraordinary General Meeting.