CITIC's Subsidiary Plans Disposal of Two Ka-32 Helicopters

Stock News10-26

CITIC (00267) has announced that its subsidiary, Citic Offshore Helicopter Co.,Ltd. (the "Company"), through its own subsidiary Haizhi General Aviation Co., Ltd. ("Haizhi Tonghang"), plans to initiate disposal procedures for two Ka-32 helicopters registered as B-7812 and B-7813.

In a move designed to streamline its fleet and support its transformation and growth strategy, Haizhi Tonghang intends to engage a qualified property rights trading platform to publicly list the two helicopters for sale to external buyers.

During the listing and public notice period, interested buyers may participate in online bidding, and once the notice period concludes, the highest bidder will be awarded the deal and proceed with contract performance and asset transfer arrangements.

The appraisal results for the helicopters slated for disposal have already been filed for record with the state-owned asset supervision and administration authority. The listing price is based on the recorded appraisal results as the pricing benchmark, with the initial proposed reserve price set at RMB 171.66 million.

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