China Southern Airlines Company Limited

GUANGZHOU, China, Jan. 13, 2023 /PRNewswire/ -- China Southern Airlines Company Limited (the "Company") (NYSE: ZNH; HKSE: 01055; SSE: 600029) announces today that the Company has notified the New York Stock Exchange (the "NYSE") on January 13, 2023 (Eastern Time in the U.S.) that it will apply for the voluntary delisting of its American depositary shares ("ADSs") from the NYSE and the deregistration of such ADSs and underlying overseas listed shares (the "H Shares") under the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"), due to a number of considerations, including the limited trading volume of its ADSs relative to the worldwide trading volume of its H Shares, the fact that the Company has never conducted a follow-on financing of securities listed on the NYSE since the listing of its ADSs on the NYSE, while The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") and the Shanghai Stock Exchange are strong alternatives for the Company because they can satisfy the Company's fundraising requirements necessary for its normal business operations, and the considerable costs of maintaining the listing of the ADSs on the NYSE, the registration of the ADSs and the underlying H Shares under the Exchange Act and complying with the periodic reporting requirements, internal control requirements and related obligations of the Exchange Act.

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