Zheng Quan Shi Bao Wang·2025-04-30 13:09Group 1 - The core point of the news is that Hainan Airport plans to acquire a controlling stake in Hainan Meilan International Airport Co., Ltd. for RMB 2.339 billion, which will enhance its position as a major player in the airport industry and support its strategic focus on airport operations [1][2][4] - After the acquisition, Hainan Airport will hold at least 50.19% of Meilan Airport's shares, making it the controlling shareholder and marking a significant step towards a more integrated airport operation model [1][2] - The acquisition aligns with Hainan Airport's strategy to reduce its reliance on real estate, with airport management revenue expected to exceed 60% of total revenue post-transaction, facilitating a shift from real estate to aviation industry classification [2][4] Group 2 - Hainan Airport aims to leverage the historical opportunity of the Hainan Free Trade Port's upcoming customs closure by enhancing its airport operations and integrating resources across three major airports on the island [3] - The company plans to expand its international flight routes significantly, targeting 90 routes by 2025, which will increase international passenger throughput to 2.4 million, thereby attracting more businesses to the region [3] - The integration of airport resources will create a unique flow entry point for "airport + duty-free" operations, maximizing the benefits from the Free Trade Port policies [3] Group 3 - Hainan Airport emphasizes value management and has implemented a value management system to enhance investor returns, including a recent share buyback and the resumption of annual profit dividends [4] - The acquisition of Meilan Airport is a key component of the company's value management strategy, responding to market expectations for airport consolidation and enhancing its operational scale and competitiveness [4] - The transaction is expected to improve the company's revenue and asset scale, further focusing on its core airport operations and supporting the development of the Hainan Free Trade Port [4]