Guohang Aviation: It is estimated that by 2026, the annual related party transactions will reach 20.2 billion yuan.

The announcement of China Southern Airlines stated that on March 13, 2026, the company held a board meeting to review and approve the expected annual routine related party transactions for the year 2026. It is estimated that the company will have transactions with related parties such as China Aviation Group, Air China Group, the financial company, and Zhejiang Cainiao, totaling 20.2 billion yuan, including providing services, receiving services, depositing and lending, and house leasing. The actual routine related party transactions in 2025 differed from the estimates, which were considered normal operational adjustments. These transactions were fairly priced and in the interests of the company and all shareholders, and will be subject to approval by the shareholders' meeting.