November 25，Announcement from China Southern Airlines，The company and China Southern Airlines、Nanwang Industrial Investment Group、Double Hundred and One Number、China Southern Capital Holdings and General Aviation Investment Enter into an Agreement。Accordingly，The registered capital of China Southern Airlines General Aviation will be through China Southern Airlines Industrial Investment Group、Double Hundred and One Number、The capital contribution of China Southern Capital Holdings and General Aviation Investment increased from RMB 1 billion to RMB 1.3 billion，And 188bet Online Sports Betting and Casino the company agrees to transfer part of its equity in China Southern Airlines General Aviation to China Southern Airlines Industrial Investment Group、Double Hundred One and China Southern Capital Holdings。

According to the announcement，Before the announcement date and completion of the capital contribution and equity transfer planned under the agreement，China Southern General Aviation is a wholly-owned subsidiary of the company。After completing the capital contribution and equity transfer planned under the agreement，China Southern General Aviation will be operated by our company、Nanwang Industrial Investment Group、Double Hundred and One Number、China Southern Capital Holdings and General Aviation Investment each own approximately 57.9%、10.0%、14.1%、10.0%&8.0% equity，China Southern General Aviation will continue to be a subsidiary of the company。

Announcement，Nanwang Industrial Investment Group will invest RMB 102.576096 million yuan；Shuangbaiyihao will invest RMB 144.660888 million yuan；China Southern Capital Holdings will invest RMB 102.576096 million yuan；188bet Online Sports Betting and Casino GAT Investment will invest RMB 159.910296 million yuan，The company plans to use the proceeds from the equity transfer and sale as the group’s working capital，The equity transfer will not result in any profit or loss being recorded in the Group's consolidated financial statements。