Press Release

JPMFC Acted as the Joint Lead Underwriter on Second Phase of RMB 1.0 Billion Enterprise Bond Offering for HNA Capital Holding Co., Ltd

J.P. Morgan First Capital (“JPMFC”) launched RMB 1.0 billion enterprise bond offering for HNA Capital Holding Co., Ltd. (“the Issuer”) on 8th August, 2014, and successfully completed the deal on 11th August, 2014. JPMFC acted as left lead underwriter, China Development Bank Securities（“CDBS”）was joint lead. 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 already completed in April.