Juneyao Airlines Co., Ltd announced a private placement of 589,843,247 A shares for gross proceeds of not more than CNY 3,500,000,000 on August 2, 2021. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 8th meeting of the company?s 4th directorate and is subject to the approvals of the company?s shareholders, the CAAC East China Regional Administration, and the China Securities Regulatory Commission. The transaction is approved in the 7th meeting of the 4th supervisory board.