HNHD(SZ:002163) 2 1 Shi Ji Jing Ji Bao Dao·2025-05-06 23:39Core Viewpoint - Hainan Development's controlling shareholder, Hainan Development Holdings, has extended the commitment period for injecting the controlling stake of Global Consumer Goods (Hainan) Trading Co., Ltd. into Hainan Development from May 12, 2025, to May 12, 2028, reflecting considerations for compliance, shareholder interests, and long-term planning for Hainan's duty-free business [1] Group 1: Commitment Adjustment - The adjustment of the commitment period aims to address the current operational data of Global Consumer Goods, which has not yet achieved profitability due to intensified market competition and high supply chain costs [2] - The new plan provides a "performance breakthrough window" of two years for Global Consumer Goods to achieve profitability, thereby solidifying the financial foundation for future asset injection [2] Group 2: Strategic Initiatives - Hainan Development Holdings has initiated a series of strategic partnerships, including a joint venture with Hainan Airport Group and a strategic cooperation with Avvolta, to enhance market expansion in Sanya [2] - The construction of the T3 terminal at Sanya Phoenix International Airport is expected to significantly increase passenger throughput, providing substantial commercial value for Global Consumer Goods [2] Group 3: Supply Chain Optimization - Hainan Development is accelerating the establishment of a "global direct procurement + smart warehousing" system, having reached direct procurement agreements with over 30 international brands, resulting in a 15% reduction in procurement costs [3] - The construction of an intelligent warehousing center in Yangpu Free Trade Port Area is expected to enhance inventory turnover by 40% and reduce logistics costs by 25% [3] Group 4: Market Potential and Policy Support - The duty-free business has become a core engine for Hainan Development's transformation into the large consumption sector, with projected sales of Hainan's offshore duty-free operations reaching 47.03 billion yuan in 2024 [4] - Recent policy adjustments have significantly boosted consumer enthusiasm, with the number of visitors to Hainan expected to exceed 97.2 million in 2024, representing an 8% year-on-year increase [4] Group 5: Future Outlook - The optimization of the asset injection commitment is seen as a strategic opportunity for Hainan Development, which aims to create an industrial matrix of "core duty-free business + tourism consumption" [4] - The upcoming full closure of Hainan Free Trade Port is expected to further reduce operational costs for enterprises, enhancing market vitality and attracting more businesses to the duty-free sector [5]