Group 1 - The Hainan Free Trade Zone concept rose by 3.42%, ranking fourth among concept sectors, with 27 stocks increasing, including Hainan Development which hit the daily limit, and Shennong Agricultural, Jinpan Technology, and Kangzhi Pharmaceutical showing significant gains of 9.62%, 8.43%, and 7.88% respectively [1] - The Hainan Free Trade Zone concept attracted a net inflow of 1.143 billion yuan from main funds, with 24 stocks receiving net inflows, and 9 stocks exceeding 50 million yuan in net inflow, led by Hainan Development with a net inflow of 326 million yuan [2][3] - The top stocks by net inflow ratio included Hainan Development at 16.84%, *ST Shuangcheng at 10.50%, and Shennong Agricultural at 9.85% [3] Group 2 - The top stocks in the Hainan Free Trade Zone concept included Hainan Development with a daily increase of 10.00% and a turnover rate of 13.46%, followed by Shennong Agricultural with a 9.62% increase and a turnover rate of 28.18% [4] - Other notable stocks included Hainan Airport with a 4.35% increase and a turnover rate of 2.81%, and Zhongtung High-tech with a 7.36% increase and a turnover rate of 6.22% [4][5] - The overall performance of the Hainan Free Trade Zone concept indicates strong investor interest and significant capital inflow, reflecting positive market sentiment towards the sector [2][4]

Core Viewpoint - The Haikou Meilan International Airport has significantly improved its cargo handling efficiency and reduced operational costs for businesses following the implementation of a new regulatory model and various policy incentives, enhancing its role as a key logistics hub in the Hainan Free Trade Port [2][3]. Group 1: Operational Efficiency - The airport has adopted a "three embedded" regulatory model, integrating five paper documents into an electronic single document, resulting in a 30% increase in customs clearance efficiency [2][3]. - The time required for cargo clearance has been reduced to under one hour, compared to previous longer processes [2]. - The airport has successfully facilitated various types of zero-tariff goods and tax-exempt processing, including items like chocolate and jade bracelets [2]. Group 2: Cost Reduction and Policy Incentives - Since December 18, 2022, the airport has fully waived domestic outbound operation fees for eligible "second-line" regulated goods, leading to significant cost savings for businesses [3]. - The combination of various preferential policies has allowed companies to lower operational costs and enhance product competitiveness in the market [2]. Group 3: Growth in Cargo Volume - By 2025, the airport is projected to handle over 215,800 tons of cargo, marking a historical high, with international cargo volume reaching 28,100 tons and cross-border e-commerce accounting for over 40% [3]. - The first month of the customs closure saw a significant year-on-year increase in cross-border e-commerce order volume, indicating a more efficient global logistics network [3]. Group 4: Strategic Development - The airport currently operates eight international cargo routes, including three fifth-freedom routes, connecting nine international cargo destinations, thereby establishing a global logistics bridge [3]. - The mature cargo transport system being developed at the Hainan Free Trade Port is positioning it as a crucial node for global factor circulation, supported by enhanced international routes and optimized customs processes [3].

Core Viewpoint - Hainan Airport Facilities Co., Ltd. has completed the acquisition of a controlling stake in Meilan Airport, enhancing its operational management of three major international airports in Hainan Province, which will now be reported collectively in operational data [2][3]. Group 1: Operational Data Summary - The operational data for December 2025 includes statistics from eight airports under the company's control and two managed airports, excluding any airports in which the company holds a minority stake [1]. - Following the acquisition of Meilan Airport, the company now holds 50.19% of its shares, allowing it to consolidate operational data for Haikou Meilan International Airport starting from December 2025 [2]. - The company will no longer disclose operational data for Sanya Phoenix International Airport separately, opting instead to report the overall performance of the three major airports in Hainan [3]. Group 2: Important Notes - The operational data reported may differ from actual figures due to rounding and other forms of flight data [4]. - The company emphasizes that the disclosed information is based on internal statistics and is intended for investor reference only [4]. - Official disclosures are made through designated media, and investors are advised to refer to these sources for accurate information [4].

2、2025 年 12 月 24 日，公司收购美兰空港（0357.HK）237,500,000 股内资股已 股票代码：600515 股票简称：海南机场 公告编号：临 2026-003 海南机场设施股份有限公司 2025 年 12 月机场业务生产经营数据快报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、海南机场设施股份有限公司（以下简称"海南机场"或"公司"）2025 年 12 月机场业务生产经营数据快报如下： | 项目 | 月度 | | 累计 | | | --- | --- | --- | --- | --- | | | 本月数 | 同比增长 | 累计数 | 同比增长 | | 一、起降架次（架次） | 33,005 | 2.72% | 350,120 | 1.09% | | 其中：境内航线 | 30,831 | 0.91% | 330,616 | 0.18% | | 地区航线 | 350 | 2.34% | 3,978 | 23.12% | | 国际航线 | 1,824 | 47.45% | 15,526 | 18.5 ...

Core Insights - The company announced that by December 2025, its eight controlled airports and two managed airports will have a total of 33,005 takeoffs and landings, representing a year-on-year increase of 2.72% [1] - The passenger throughput is projected to reach 4.9024 million, reflecting a year-on-year growth of 5.73% [1] - The cargo and mail throughput is expected to be 34,950 tons, which is a year-on-year increase of 5.14% [1] - The acquisition of 238 million domestic shares of Meilan Airport was completed on December 24, 2025, granting the company a controlling stake of 50.19% [1] - Starting from 2025, the company's airport business data will include Haikou Meilan International Airport [1] - The company also released relevant business data for three airports within Hainan Province [1]

Core Viewpoint - Hainan Airport's stock has experienced a significant decline, with a year-to-date drop of 14.63% and a recent 5-day drop of 7.33%, indicating potential concerns regarding its financial performance and market sentiment [1][2]. Financial Performance - For the period from January to September 2025, Hainan Airport reported a revenue of 3.28 billion yuan, reflecting a year-on-year growth of 6.09%. However, the net profit attributable to shareholders decreased by 69.77% to 64.35 million yuan [2]. - Cumulative cash dividends since the A-share listing amount to 60.21 million yuan, with 57.13 million yuan distributed over the past three years [3]. Shareholder Information - As of December 31, the number of shareholders for Hainan Airport reached 234,900, an increase of 54.55% from the previous period. The average number of circulating shares per shareholder decreased by 35.30% to 39,069 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, holding 190 million shares, an increase of 23.83 million shares compared to the previous period [3]. Market Activity - On January 15, Hainan Airport's stock price fell by 2.15% to 4.55 yuan per share, with a trading volume of 483 million yuan and a turnover rate of 1.14%. The total market capitalization stands at 51.985 billion yuan [1]. - The net outflow of main funds amounted to 127 million yuan, with significant selling pressure observed, as 28.74% of large orders were sold [1].

Group 1 - The duty-free store concept declined by 0.79%, ranking among the top declines in the concept sector, with Dongbai Group hitting the limit down, while companies like Juran Zhijia and Guangbai Co. also saw significant declines [1] - The leading gainers in the duty-free concept sector included Lingnan Holdings, Caesar Travel, and ST Huayang, with increases of 5.96%, 4.21%, and 3.33% respectively [1] - The concept sector saw a net outflow of 1.896 billion yuan, with 19 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 100 million yuan, led by China Duty Free with a net outflow of 505 million yuan [1] Group 2 - The stocks with the highest net outflows included Hainan Airport and Shanghai Port Group, with net outflows of 393 million yuan and 179 million yuan respectively [1] - Conversely, the stocks with the highest net inflows included Caesar Travel, Baiyun Airport, and Lingnan Holdings, with net inflows of 61.08 million yuan, 30.80 million yuan, and 29.72 million yuan respectively [2] - The trading volume for China Duty Free was 3.00%, while Dongbai Group had a turnover rate of 16.71%, indicating significant trading activity in these stocks [1][2]

Group 1 - The A-share market's duty-free concept stocks have weakened significantly, with Guangbai Co., Ltd. dropping over 5% [1] - Hainan Airport has seen a decline of more than 3% [1] - Other companies such as Zhongbai Group, Hainan Highway, Southern Airlines, Bubugao, China Merchants Shekou, Hainan Development, China Duty Free Group, Wushang Group, and Haixia Co. have all experienced declines of over 2% [1]

Group 1 - The core point of the article is that Hainan Airport (600515) has disclosed its shareholder count, which is projected to reach 234,864 households by December 31, 2025 [1]

Core Viewpoint - Hainan Airport has completed the transfer of 237.5 million domestic shares of Meilan Airport, gaining control over it, and is currently in the full tender offer phase, which will maintain Meilan Airport's listing status [1] Group 1: Company Developments - As of December 24, 2025, Hainan Airport has completed the transfer of 237.5 million domestic shares of Meilan Airport [1] - The final date for accepting the tender offer is January 30, 2026 [1] - The company expresses confidence in the long-term development of Meilan Airport [1] Group 2: Industry Strategy - Hainan aims to establish itself as a gateway hub for aviation in the two-ocean region, with Haikou Meilan Airport serving as the main aviation hub for the province [1] - The company is implementing a dual development strategy for passenger and cargo services, collaborating with airlines based in Haikou [1] - The focus is on expanding the global route network to major cities [1]