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Hainan Airlines to Directly Own Indirectly-Owned Subsidiary Through 3.80 Billion Yuan Capital Raise

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Hainan Airlines (SHA:600221, SHA:900945) plans to directly hold 99% of its indirectly-owned subsidiary, Beijing Xinhua Shunhang Trading, by raising its capital by 3.80 billion yuan, according to a Shanghai bourse filing on Tuesday.

Xinhua Shunhang Trading, a seller of daily necessities, electronic products and clothing, was fully controlled by another subsidiary of the airline company, China Xinhua Airlines Group.

After the completion of the transaction, Xinhua Airlines will continue holding the remaining 1% in Xinhua Shunhang Trading.

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