Core Insights - Wuliangye officially became a shareholder of Sichuan Airlines, increasing its registered capital from 417 million to approximately 1.219 billion yuan [1] - The shareholding structure post-change shows Sichuan Development holding 54.1694% and Wuliangye holding 45.8306% [1] - The partnership between Wuliangye and Sichuan Airlines has been in the making since 2020, with a total investment agreement of around 5 billion yuan [1][2] Company Developments - Wuliangye's entry into Sichuan Airlines is seen as a significant move to deepen state-owned enterprise reform and optimize state capital allocation [2] - The investment is expected to enhance resource integration, allowing Wuliangye to diversify its operations and improve risk resilience, while providing Sichuan Airlines with much-needed financial support [2] - Sichuan Airlines reported a revenue of 16.218 billion yuan and a net loss of 802 million yuan as of June 30, 2025, indicating financial distress with a debt ratio of 100.7% [3]