The predecessor of Shanghai Airlines Co., Ltd--Shanghai Airlines, is the first commercial airline of its kind in China. Approved by Shanghai Municipal People’s Government on November 1, 2000, it was restructured and evolved from Shanghai Airlines Limited with registered capital of 521 million yuan.

Our company is mainly engaged in domestic, international and regional air passenger, cargo and mail transport and agent service. Till now it has a fleet of 26 aircraft, and has over 130 routes to 48 domestic large and medium-sized cities and 5 international cities. According to the airline statistics, our traffic volumes ranging from 1999 to 2001 amount to 303.17, 393.22, 505.90 million tons-km respectively, ranking 9th, 7th and 6th in the civil aviation industry and second to none among those under indirect control of the CAAC .

In the evaluation of China’s top 500 enterprises in the service industry, our company ranks in the 52nd place in the post and telecommunication category and listed by Shanghai Municipal People’s Government as one of the 54 large-sized government-supported enterprises and groups and among the experimental enterprises with modern enterprise system. Accredited with the titles of “National Safety Advanced Unit”, “National Quality and Efficiency-oriented Advanced Enterprise”, “Shanghai Quality Pacesetter”, “Shanghai Excellent Enterprise” and China and Shanghai Customers’ Satisfied Enterprise 2000, etc. Recently, strictly assessed by China Enterprise Confederation, China Enterprise Directors Association, Shanghai Airlines Co., Ltd was appraised in the China’s top 500 enterprises 2002 ranking 352nd with an annual revenue of 3.03591 billion yuan in 2001, thus becoming the first one among the CAAC non-direct controlled airlines having its name in the China’s Top 500.

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Ratified by China Securities Regulatory Commission (CSRC) No. 99 [2002], our company issued 200 million common Share (A-share) initial public offerings, of which the issuing price is 5.33 yuan per share. According to No.042 (2002) audit report issued by Ernst & Young accounting firm, our company achieved net profit of 138.85 million yuan in 2001, with the benefit of 0.2665 yuan per share, IPO P/E ratio 20 times.

By adopting 100% IPOs sales to the secondary market investors, and organized by Guotai Jun'an Securities Co., Ltd, the underwritten group will sell them in the form of stand-by underwriting.

In this issuing, the company had raised a total fund of 1066 million yuan and deducted issuing fee of 29.315 million yuan, the actual raised fund totals 1036.685 million yuan, which will be mainly invested in three projects, i.e. new aircraft buy, hangar project in Pudong airport and airline e-business development.

On Oct. 11, 2002, Shanghai Airlines (600591) was listed in the Shanghai Stock Exchange, with the opening price of 7.13 Yuan in the first day.

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1. Total number of the holders as at the end of the reporting period: 36,064

2. Top ten holders of listed shares not subject to trading moratorium (Split share reform completed)

Unit: Share

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