Core Viewpoint - Hainan Airport plans to acquire controlling stake in Hainan Meilan International Airport Co., Ltd. to enhance its core competitiveness and support the construction of Hainan Free Trade Port [2][6] Group 1: Transaction Information - The acquisition will occur in two steps: first, Hainan Airport will acquire 50.19% of Meilan Airport's domestic shares for approximately RMB 2.339 billion, at a price of RMB 9.85 per share [2][5] - Following the initial acquisition, a comprehensive tender offer will be made for all issued domestic and H shares at prices of RMB 9.85 and HKD 10.62 respectively [2] - The transaction has been approved by the company's board and is pending approvals from Hainan Provincial State-owned Assets Supervision and Administration Commission and the shareholders' meeting [9] Group 2: Strategic Purpose - The primary goal of the acquisition is to integrate core transportation infrastructure within Hainan Island, thereby enhancing the company's competitive edge [6] - The decision to proceed with the acquisition at this time is influenced by various favorable factors, including policy support and the strategic importance of the target company [8] Group 3: Financial Arrangements - The transaction will be financed through a combination of the company's own funds and bank loans, with funding arrangements already in place [10] - Measures will be implemented to protect the interests of the listed company and minority shareholders, including a compensation mechanism for potential impairments [12]