Core Viewpoint - The opening of Hainan Free Trade Port marks a significant shift in China's approach to foreign trade, impacting various stakeholders, particularly the Ho family and Li Ka-shing [1][22]. Group 1: Impact on Li Ka-shing - Li Ka-shing has strategically divested from mainland China and Hong Kong assets, selling properties at significant discounts, including a HKD 5 billion sale of his long-held residence [5][7]. - Over the past decade, Li has liquidated over HKD 250 billion in assets, reducing his exposure in China from 75% to 15%, while investing approximately USD 30 billion in Southeast Asia [5][7]. - The retail sector in Hong Kong is projected to decline by 7.3% in 2024, while Hainan's duty-free sales have surpassed RMB 100 billion, indicating a shift in consumer spending [7][15]. Group 2: Challenges for the Ho Family - The Ho family, having invested heavily in Nansha since the 1980s, faces strategic challenges as the focus of national policy shifts away from trade towards digital technology and cultural tourism [3][11]. - The value of Ho family's land in Nansha, previously estimated at RMB 300 billion, is likely to decrease due to the diversion of trade functions to Hainan [13][20]. - Internal family disputes regarding the Nansha project have surfaced, complicating asset management and highlighting differing views on the project's future [13][20]. Group 3: Policy Changes and Economic Implications - The expansion of the "zero tariff" policy to approximately 6,600 product categories enhances Hainan's connectivity with international markets, posing challenges to Hong Kong's traditional advantages [3][15]. - The Hainan Free Trade Port is positioned as a key element in China's broader strategy for high-level openness, complementing the development of the Guangdong-Hong Kong-Macao Greater Bay Area [22]. - Collaborative efforts between Hainan and Hong Kong aim to leverage mutual strengths, with Hainan focusing on trade and Hong Kong enhancing its international financial services [16][18].

Group 1 - Prit's announcement to establish a subsidiary in Nansha, Guangzhou, with a total investment of 1 billion yuan and an expected annual production capacity of 400,000 tons [1] - The number of A-share companies mentioning Nansha in their 2024 annual reports has increased to 216, with over 10 billion yuan of funds flowing into the area [1][2] - The "Nansha Plan" aims to develop Nansha into a strategic platform for cooperation among the Guangdong-Hong Kong-Macao Greater Bay Area, attracting significant investments from various sectors [1] Group 2 - Guangzhou Port's fixed asset scale increased from 193.65 billion yuan in 2022 to 290.67 billion yuan in 2024, with a total increase of 9.7 billion yuan [2] - In 2022, Guangzhou Port raised 4 billion yuan through stock issuance and recorded a cash inflow of 13.022 billion yuan, both reaching a ten-year high [2] - The international general terminal project at Nansha Port is set to enhance the logistics system, with an investment of 7.472 billion yuan and a designed annual throughput capacity of 15.5 million tons of general cargo [3] Group 3 - COSCO Shipping's subsidiary in Nansha has invested 600 million yuan, with total assets of 2.377 billion yuan and a net profit of 327 million yuan in 2024 [4] - The logistics sector in Nansha is supported by the establishment of a wholly-owned subsidiary by COSCO Shipping, focusing on international shipping and logistics [3][4] Group 4 - Fuan Energy has increased its stake in Nansha Storage to 70% and invested in a comprehensive energy petrochemical storage base with a capacity of 918,300 cubic meters [6] - The petrochemical park in Xiaohu Island is recognized as a specialized chemical park, with a planned area of 9.7 square kilometers [7] - The food and agricultural products import-export center project by Agricultural Products Co. is set to establish a hub in Nansha, covering an area of 200,000 square meters [8] Group 5 - Watson Bio has established a production base in Nansha with a focus on mRNA technology and set up a 1.2 billion yuan investment fund [9] - The company has seen its operating profits decrease from 84 million yuan in 2022 to 38 million yuan in 2024, benefiting from a preferential tax rate starting in 2024 [9] - Tianrunxin has established a subsidiary in Nansha, aiming to develop a security technology industry hub in the Greater Bay Area [10][11]