Investing in 3 years still floating in Jun Yao Group intends to reduce the holdings of China Eastern Airlines no more than 156 million shares

On September 21, China China Eastern Airlines (SH600115, stock price of 488 yuan, and a market value of 92.1 billion yuan) issued an announcement stating that its shareholder Shanghai Junyao (Group) Co., Ltd. (hereinafter referred to as Junyao Group) intends to reduce the holdings of China Eastern Airlines no more than 156 million share.

Photo by a reporter Zhang Jian

"Daily Economic News" reporter noticed that Junyao Group's equity of China Eastern Airlines originated from China East Airlines 3 years ago. However, three years have passed, and the investment of Junyao Group has still fluctuated to this day.

Three years ago, the subscription price of three companies including Junyao Group was 5.35 yuan/share. It is worth noting that as of the close of September 22, 2022, China Eastern Airlines' stock price closed at 4.88 yuan/share, a decline of 1.41%. Based on the closing price of the day, the investment loss of the Junyao Group exceeded 8%.

Related information shows that currently Auspicious Airlines, Junyao Group, Shanghai Geng -Dao and Auspicious Hong Kong are unanimously acting. The four companies hold about 8.9%of China Eastern Airlines.

The cooperation between the two parties can be traced back to 20 years ago

The controlling shareholder of Junyao Group is Jixiang Airlines (SH603885, a stock price of 15.50 yuan, and a market value of 34.3 billion yuan). According to the official website of Junyao Group, the company was founded in July 1991. It has now formed five major business segments of aviation transportation, financial services, modern consumption, education services, and scientific and technological innovation. Its 4 A -share listed companies have nearly 20,000 employees. It is ranked 181st in the top 500 companies in China.

The cooperation between Junyao Group and China Eastern Airlines dates back 20 years ago. In 2002, China China China Eastern Airlines and Shanghai Junyao Air Investment Co., Ltd. jointly established China Oriental Aviation Wuhan Co., Ltd.

Subsequently, Junyao Group and China China Eastern Airlines cooperated in different aspects. By September 2019, China China China Eastern Airlines announced that its controlling shareholder China Eastern Airlines Group and Junyao Group signed a "Strategic Cooperation Agreement".

The main content of the above -mentioned "Strategic Cooperation Agreement" is that under the premise of compliance with relevant laws and regulations, and Oriental Airlines and Auspicious Airlines "Company Articles of Association", China Eastern Airlines Group and Junyao Group will promote Oriental Airlines and Auspicious Airlines, the subsidiaries of the other subsidiaries of the other party. A directors are located and will be promoted to be a member of the Strategic Development Committee of the Board of Directors or the strategic planning committee, nomination and salary committee or compensation and assessment committee.

At the same time, according to the "Strategic Cooperation Agreement", China Eastern Airlines Group and Junyao Group will establish a business cooperation promotion committee with the main leaders of the aviation industry listed companies of both parties as the leaders of the aviation industry of both parties to jointly promote the two parties in various businesses in various businesses. Comprehensive strategic cooperation in the field.

In the same year, Jixiang Airlines, Junyao Group and Shanghai Gengdao Airlines Enterprise Management Co., Ltd. (Auspicious Airlines subsidiary, hereinafter referred to as Shanghai Gengdao) participated in China East Airlines Dingdang, and the three companies subscribed for about 219 million shares of China Eastern Airlines, 312 million A shares of non -public offering of 589 million shares and 589 million shares cost about 5.993 billion yuan.

In addition, China China China Eastern Airlines also issued approximately 520 million H shares at a price of HK $ 4.29 per share to Shanghai Jixiang Airlines (hereinafter referred to as Jixiang Hong Kong), a subsidiary of Jixiang Airlines.

At present, Auspicious Airlines, Junyao Group, Shanghai Geng -Dao and Auspicious Hong Kong are unanimously acting. The four companies hold about 8.9%of China Eastern Airlines.

The Junyao Group has fluctuated for 3 years

However, Junyao Group, Jixiang Airlines and Shanghai Gengdao spent nearly 6 billion yuan in investment. Three years ago, the subscription price of three companies including Junyao Group was 5.35 yuan/share. However, China Eastern Airlines 'stock price has shown a tepid trend in the past three years. As of September 22, China Eastern Airlines' stock price closed at 4.88 yuan/share.

The stock price trend has not seen great improvement. In addition, China China Eastern Airlines has rarely divided dividends in recent years. In the past three years, China Eastern Airlines has carried out a dividend (the profit distribution of 2019) in August 2020, and has not made profit distribution of 2020 and 2021. In August 2020, shareholders of China China Eastern Airlines received a dividend of 0.05 yuan per share (before tax).

Without considering taxes, the price of China China Eastern Airlines closed on September 21, and the three companies of Jixiang Airlines, Junyao Group and Shanghai Gengdao companies' fixed increases on China Eastern Airlines were about 77 million yuan and 109 million yuan, respectively. And 206 million yuan (considering dividends).

Junyao Group promised in August 2019 that China Eastern Airlines' stocks obtained through non -public issuances did not reduce their holdings within 36 months, and the commitment period was from August 30, 2019 to August 29, 2022. As of now, the period of not being reduced by Junyao Group has been full.

On September 21, China China China Eastern Airlines announced that due to its own business plan, Junyao Group was within 6 months after the disclosure of this announcement, and it was planned to reduce the holdings of China held by concentrated bidding transactions. Eastern Airlines shares no more than 156 million shares, accounting for 0.826%of China Eastern Airlines' total share capital.

In addition, according to the annual operating data announcement released by China China China Eastern Airlines in August 2022, China Eastern Airlines's related operation data this year is still not optimistic.In the first eight months of this year, China China Eastern Airlines ’passenger kilometers fell 45.57%year -on -year, passengers carrying passengers decreased by 47.86%year -on -year, and cargo shipping and shipping tons of kilometers decreased by 24.24%year -on -year.However, it is worth noting that the relevant data of China Eastern Airlines had grown strongly in August.In August of this year, China Eastern Airlines' passenger turnover (according to passenger kilometers) increased by 62.14%year -on -year; the passenger rate rate was 67.01%, an increase of 11.18 percentage points year -on -year;Essence

Daily Economic News

- END -