Southern Airlines: Plans to raise no more than 15 billion, financing scale is reasonable.

Southern Airlines announced that this issuance intends to raise a maximum of 15 billion yuan for the "introduction of 46 aircraft project" and "supplementary working capital," with a maximum of 35 investors. The controlling shareholder, Southern Airlines Group, plans to subscribe for 5-10 billion yuan. With revenues of 159.29 billion yuan, 174.24 billion yuan, and 182.56 billion yuan in 2023, 2024, and 2025 respectively, the company's compound growth rate is 6.75%. The financing scale has taken into consideration the business, cash flow, assets, and fund usage, and is reasonable without involving the replacement of the funds invested by the board of directors. The accounting firm's verification found the above conclusion to be reasonable.