Jin Rong Jie·2025-12-18 06:32Group 1 - Shenzhen International (00152.HK) announced that its associate company, Shenzhen Airlines, plans to conduct a phased capital increase totaling 16 billion RMB [1] - The group has decided not to participate in the capital increase, which will introduce Kunhang Investment as a new investor through a public bidding process [1] - The capital increase agreement and related documents are set to be signed on December 18, 2025, with China National Aviation and Kunhang Investment contributing approximately 2.082 billion RMB and 2 billion RMB respectively in the first phase [1] Group 2 - Following the completion of the first phase of the capital increase, the group's stake in Shenzhen Airlines will be diluted from 49% to approximately 28.09% [1] - China National Aviation and Kunhang Investment will hold 51% and approximately 20.91% of Shenzhen Airlines respectively, which will continue to be an associate company of Shenzhen International [1] - Further dilution of the group's stake is expected as China National Aviation and Kunhang Investment will sign relevant agreements for subsequent capital increases in due course [1]