China Huirong (01290) establishes a joint venture for the acquisition and leasing of aircraft

According to Zhitong Finance App, China HuiRong (01290) announced that on September 24, 2026, Huifang Investment and Huifang Technology, two indirect wholly-owned subsidiaries of the Company, entered into a joint venture agreement with Guochuang Technology to establish a Hong Kong joint venture, with Huifang Investment and Guochuang Technology holding 49% and 51% interests respectively; and set up a Chinese joint venture, with Huifang Technology and Guochuang Technology holding 49% and 51% interests respectively.

According to the joint venture agreement, the issued share capital of the Hong Kong Joint Venture is HK$50,000, which will be funded by Huifang Investment and Guochuang Technology at 49% and 51% respectively; the registered capital of the China Joint Venture is USD 2.5 million, which will be funded by Huifang Technology and Guochuang Technology in the ratio of 49% and 51% respectively; the guarantee commitment amount of the Chinese Joint Venture is US$14.42 million, with Huifang Technology and Guochuang Technology remittance of 49% and 51% respectively; Fang Technology and Guochuang Technology according to 49% and Provided at a rate of 51%. The total cost payable and guarantee commitments assumed by the Group in connection with the proposed transaction for the establishment of a joint venture is approximately RMB 68.144,500.

Through the establishment of a joint venture, the Group will be able to obtain opportunities to enter the aircraft leasing business with the help and use of Guochuang Technology's experience and expertise.

The joint venture will carry out aircraft acquisition and leasing business to obtain stable rental income. At the same time, it will take advantage of changes in the aviation industry cycle to find potential buyers to sell aircraft, thereby achieving asset disposal benefits and improving the overall level of return on investment. The aircraft leasing business can be viewed as a further extension of the Group's special asset investment business. Through cooperation with Guochuang Technology, a senior aircraft management partner, the Group explores new development opportunities for aviation asset investment, enriches the asset allocation structure, and implements a diversified business layout, thereby helping the Group's overall long-term strategic development.