On December 2, 2022, Spring Airlines Co., Ltd. closed the transaction. The company issued 62,086,092 A shares at a price of CNY 48.32 per share for gross proceeds of CNY 2,999,999,965.44 in the transaction. The transaction included participation Harvest Fund Management Co., Ltd. for CNY 136,299,992.96, GF Fund Management Co., Ltd. for CNY 154,999,977.92, Zhong Ou Fund Management Co., Ltd for CNY 302,000,000, Fullgoal Fund Management Co., Ltd. for CNY 653,999,989.76, ICBC Credit Suisse Fund Management Co., Ltd. for CNY 103,699,986.88, Seatown Holdings International Pte.

Ltd. for CNY 424,999,961.28, Haifutong Fund Management Co., Ltd for CNY 196,499,996.48, Taikang Asset Management Co., Ltd. (Taikang Life Insurance Co., Ltd.-investment-linked aggressive insurance products) for CNY 99,999,979.52, GF Securities Co., Ltd. for CNY 422,699,977.60, Shanghai Junhe Peer Private Equity Partnership (Limited Partnership), Shanghai Shenchuang Pujiang Equity Investment Fund Partnership Enterprise (L.P.), and Shanghai Shenchuang New Power Equity Investment Fund Partnership Enterprise (L.P.), a funds managed by Shanghai Junhe Licheng Investment Management Center (Limited Partnership) for CNY 266,300,169.28, and returning investors, Caitong Fund Management Co., Ltd. for CNY 138,499,954.24, and Nuode Asset Management Co., Ltd. for CNY 99,999,979.52. The shares issued in the transaction is subject to lock up period period of 6 months from the closing of the transaction. After deducting the expenses related to the issuance fee of CNY 27,961,966.77, the net proceeds received by company was CNY 2,972,037,998.67 including CNY 62,086,092 in share capital and CNY 2,909,951,906.67 in capital reserves in the transaction.