The IPO application filed by Juneyao Airlines Co., Ltd. (“Juneyao Airlines”) was passed and approved at the 79^th meeting of the Securities Public Offering Examination and Approval Committee of China Securities Regulatory Commission (CSRC).

Juneyao Airlines started its maiden flight on 25 September 2006 and has owned 40 brand-new Airbus A320 aircrafts up to now. It targets at the middle and high level business and business leisure market. Taking Shanghai as the hub, Juneyao Airlines’ flight routes has covered over 60 domestic cities as well as Hong Kong, Macao, Taiwan, Southeast Asia and Northeast Asia, etc.

The company intends to issue a limited number of 200 million shares to raise the fund for purchasing seven A320 aircrafts and two spare engines.

Grandall Shanghai Office has acted as the issuer’s counsel with Mr. Qian Dazhi, Mr. Hu Yu, Mr. Shao Zhen, Ms. Lin Hui and Mr. Li Danning being key Grandall lawyers servicing the case.