Changlong Airlines' listing on the Shanghai Stock Exchange main board IPO has been accepted, with plans to raise 2 billion yuan.

On June 2nd, Zhejiang Longdragon Airlines Co., Ltd. (referred to as Longdragon Airlines) submitted its application for an IPO on the main board of the Shanghai Stock Exchange. Huatai United Securities is the sponsor institution, and the company plans to raise 2 billion yuan. The prospectus shows that Longdragon Airlines is an important achievement of the strategic cooperation between the Civil Aviation Administration of China and the Zhejiang provincial government. It is the only public transport airline company specializing in passenger and cargo services based at Hangzhou Xiaoshan International Airport. The company mainly operates domestic, Hong Kong, Macau, Taiwan, and international air passenger and cargo transportation services, as well as related services in the aviation transport industry. The company is based in Hangzhou, with Ningbo and Wenzhou as secondary bases, and is supported by a base in Jiaxing. It has established three branch offices in the central cities Chengdu, Xi'an, and Guangzhou, covering a network of flight routes in Zhejiang Province, across China, and internationally to countries and regions such as Hong Kong, Macau, Central Asia, Japan, South Korea, and Southeast Asia. As of the end of 2025, the company operated 135 air passenger routes. The company's fleet consists of A320 series aircraft, which have good comprehensive advantages in fuel efficiency, route adaptability, and operational cost control. This enables the company to adjust its capacity deployment flexibly and improve route operational efficiency. As of the end of 2025, the average age of the company's fleet was 6.41 years, and as of the date of this prospectus, the company operated a fleet of 77 aircraft. In terms of air passenger transport, the company positions itself as a full-service airline catering to various levels of air travel needs, such as public and business travel, leisure tourism, family visits, and education. In air cargo transport, the company mainly relies on belly cargo resources of passenger aircraft to provide domestic and international air cargo transportation services, including ordinary goods, mail, fresh fruits and vegetables, among others. In other business areas, the company conducts other aviation services closely related to aviation transport, including aviation maintenance, leasing and sales of aviation materials, etc. Its subsidiary, Longdragon Maintenance, is the largest and most comprehensive aviation maintenance enterprise in Zhejiang Province, holding various qualifications and certifications from the Civil Aviation Administration of China. The funds raised in this IPO will be mainly used for the investment projects determined at the company's fourth extraordinary shareholders' meeting in 2026. Financially, Longdragon Airlines had operating revenues of approximately 9.014 billion yuan, 10.009 billion yuan, and 10.648 billion yuan, in the fiscal years of 2023, 2024, and 2025, respectively. During the same period, the net profits were approximately 171 million yuan, 631 million yuan, and 692 million yuan, respectively.