What is the purpose?, He Chaoqiong has been nominated as the candidate for independent director of China Southern Airlines. He Chaoqiong | Journalist | Candidate

On the evening of July 13th, China Southern Airlines Co., Ltd. announced that the 9th board of directors of China Southern Airlines Co., Ltd. held an extraordinary meeting through communication, and unanimously approved the nomination of He Chaoqiong as an independent non-executive director candidate for the 9th board of directors, and submitted it for review and approval at the company's latest shareholder meeting.

On the same day, China Southern Airlines announced that due to health reasons, Liu Changle applied to resign as an independent non-executive director and member of the Nomination Committee of the Board of Directors. The resignation application will take effect from July 13th. The announcement points out that Liu Changle has confirmed that he has no different opinions from the company's board of directors and the company, and there are no other matters that the company's shareholders need to be aware of regarding his resignation.

It is worth noting that Liu Changle is the founder of Phoenix TV, while He Chaoqiong currently serves as a non-executive director and vice chairman of the board of directors of Phoenix TV.

According to the announcement, He Chaoqiong was born in 1962 and graduated with a Bachelor's degree in Marketing and International Management from the University of California, Santa Clare in the United States. Currently serving as a member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference, Vice Chairman of the All China Federation of Industry and Commerce, Co Chairman and Executive Director of MGM China Holdings Limited, Executive Chairman and General Manager of Xinde Group Co., Ltd., Chairman of Tianji Asia Pacific Group Co., Ltd., Chairman of the Macao Tourism Tower Exhibition and Entertainment Center, Non Executive Director and Vice Chairman of the Board of Phoenix TV, Director of Yachen Hotel Group Co., Ltd., Executive Director of Macau Airlines Co., Ltd., and former Independent Non Executive Director of Star Island Daily.

Pengpai News reporters have found that the nomination as an independent director of China Southern Airlines may be the first time He Chaoqiong has held a position in an A-share company, based on the above employment situation. He Chaoqiong's previous experience in the capital market mainly focused on Hong Kong stocks, including MGM China, Sindh Group, and Phoenix TV mentioned above.

As the daughter of "gambling king" Stanley Ho and Ertai Lan Qiongying, Ho Chao qiong's appearance carries a legendary color. Stanley Ho is a well-known patriotic entrepreneur in Hong Kong and Macau, as well as an iconic figure in Macau. Whether his family or business is closely related to the Greater Bay Area. From He Chaoqiong's resume, it can also be seen that she has a deep relationship with the tourism, aviation, and real estate industries in the Greater Bay Area.

During this year's National People's Congress and Chinese People's Political Consultative Conference, He Chaoqiong, as a member of the National Committee of the Chinese People's Political Consultative Conference, said in an interview with Pengpai News, "I hope everyone can join me and make due contributions to the construction of this country with their own strength. I also hope that the development of the Greater Bay Area can be prosperous and become a driving force for the country's economic development."

In He Chaoqiong's resume, she also has some experience in civil aviation and currently serves as an executive director of Air Macau Limited.

Macau Airlines is currently the main controlling airline of Air China, a state-owned airline. According to Air China's 2022 financial report, Air Macau was established in 1994 and Air China holds 66.92% of Air Macau's shares. Last year, Air Macau achieved a revenue of 718 million yuan, a year-on-year decrease of 23.04%; The net loss attributable to the parent company was 871 million yuan, a year-on-year decrease of 29.23%.

As one of the three major state-owned airlines, China Southern Airlines is rooted in Guangzhou and radiates the Guangdong Hong Kong Macao Greater Bay Area. According to the 2022 annual report, China Southern Airlines will continue to deepen its efforts in the Greater Bay Area in 2022. At present, China Southern Airlines has a market share of nearly 48.5% in Guangzhou, making positive contributions to the construction of a world-class urban agglomeration and an international scientific and technological innovation center in the Guangdong Hong Kong Macao Greater Bay Area and supporting the construction of the "the Belt and Road". In addition, China Southern Airlines also mentioned in its annual report that it will enhance its market control in the Greater Bay Area in the future, focusing on the integration of "network, market, products, and services" to enrich the network of originating routes.

Industry expert Li Hanming stated in an interview with Paper that the nomination of He Chaoqiong for the position of independent non-executive director by China Southern Airlines may be closely related to China Southern Airlines' continued deep cultivation of the Greater Bay Area in the future. "Ms. He, as a 'representative' of the Greater Bay Area, has rich industry experience in the tourism industry."

In terms of policies, the reporter from Pengpai News noticed that the expiration of the Macau Airlines franchise contract at the end of this year may be beneficial for the further development of airlines in the Guangdong Hong Kong Macao Greater Bay Area. This means that Macau, which previously had only one base airline, may welcome more base airlines from the end of this year. On October 14, 2020, the Civil Aviation Administration of Macau announced that the exclusive contract of Air Macau Limited was originally scheduled to expire on November 8, 2020. In response to the global outbreak of novel coronavirus pneumonia, it is expected that Macao's air transport industry will take a long time to gradually recover, and during this period, it is necessary to maintain the overall stability of Macao's air transport industry. Based on this, the SAR government has decided to extend its franchise contract for a period of three years.

On the afternoon of July 14th, a reporter from Pengpai News called the certification representative of China Southern Airlines, and the relevant staff told the reporter, "The above-mentioned nominations have only been proposed by the board of directors, and will need to be reviewed by the company's shareholders' meeting in the future. This nomination is based on some of the company's articles of association and the requirements of normal board candidates. China Southern Airlines, as an independent company, will make public announcements. Specific announcements will be made in a timely manner according to the requirements of information disclosure."

As of the close on July 14th, Southern Airlines reported a price of 6.36 yuan per share, down 0.47%.