Core Viewpoint - The official launch of the Hainan Free Trade Port on December 18, along with a series of favorable policies, is expected to significantly enhance Hainan's attractiveness as an international tourism consumption center and regional aviation hub, creating favorable conditions for the company's main business growth [1] Group 1: Business Performance - Hainan Airport has seen strong passenger growth, with 86 countries now allowing visa-free entry, and record-breaking passenger throughput at Haikou Meilan Airport and Sanya Phoenix Airport [1] - For the period from January to September 2025, Hainan Airport achieved an operating income of 3.28 billion yuan and a net profit attributable to shareholders of 64 million yuan, with total assets of 52.969 billion yuan and a net asset of 23.543 billion yuan [1] Group 2: Strategic Developments - The company is pursuing the acquisition of Meilan Airport to unify operations across three major international airports in Hainan, with all prerequisites for the transaction now met [2] - The completion of the acquisition is expected to create a large airport operating group with an annual passenger throughput exceeding 50 million [2] Group 3: Policy Impact - A series of policy incentives, including the seventh freedom of the air, visa-free access for 86 countries, and enhanced duty-free shopping policies, are seen as strong drivers for Hainan Airport's development [2] - The seventh freedom of the air is expected to attract foreign airlines to expand routes and establish operational bases in Hainan, enhancing air transport capacity for both passengers and cargo [2]