HNHD(SZ:002163) Shen Zhen Shang Bao·2025-04-16 03:18Core Viewpoint - Hainan Development's proposal for the delayed injection of duty-free assets was rejected by shareholders, leading to significant market reactions and a sharp decline in stock price [1][2]. Company Summary - Hainan Development announced that its proposal to delay the injection of duty-free assets was rejected at the 2025 second extraordinary general meeting, with 56.22% of votes against the proposal [1]. - The proposal was put forth by the controlling shareholder, Hainan Development Holdings, which cited increased competition in the duty-free market and continuous losses of the asset as reasons for the delay [1]. - The stock price of Hainan Development fell sharply, with a cumulative decline of over 30% from March 28 to April 9, reaching a low of 6.20 CNY per share [1]. Industry Summary - The duty-free industry is experiencing heightened interest, with analysts noting that the delay in asset injection contrasts sharply with market expectations, exacerbating selling sentiment [2]. - Tax-free goods have a price advantage due to the exemption from tariffs and consumption taxes, and there is potential for sales to shift towards duty-free channels amid tariff policy adjustments [2]. - However, the global consumer goods entity, as a latecomer in the Hainan duty-free market, faces significant competition from established players, leading to ongoing losses [2].