Press Release

JPMFC Acted as the Joint Lead Underwriter on First Phase of RMB 0.8 Billion Enterprise Bond Offering for HNA Capital Holding Co., Ltd

J.P. Morgan First Capital (“JPMFC”) launched RMB 0.8 billion enterprise bond offering for HNA Capital Holding Co., Ltd. (“the Issuer”) on 25th April, 2014, and successfully completed the deal on 29th April, 2014. JPMFC acted as a joint lead underwriter with China Development Bank Securities（“CDBS”）.This bond issuance was approved by NDRC with a total size of RMB 1.8 billion with the 1st tranche issued for a size of 0.8 billion. The 2nd tranche will be issued according to both the financial condition of the Issuer and situation of the bond market.