Core Viewpoint - Hainan Airport has successfully completed the acquisition of controlling shares in Hainan Meilan International Airport, marking a significant milestone in the airport industry and the establishment of a unified airport management system in Hainan Province [1][2]. Group 1: Acquisition Details - The comprehensive offer for the acquisition was concluded on January 30, 2026, with Hainan Airport receiving valid acceptances for 3,512,500 domestic shares, representing 0.74% of the total issued shares of Meilan Airport [1]. - Hainan Airport's wholly-owned subsidiary, Hainan Airport Facilities (Hong Kong), received valid acceptances for 54,170,087 shares of H shares, accounting for 11.45% of the total issued shares of Meilan Airport [1]. - The total shares acquired in the transaction amount to 295,182,587 shares, with a transaction price of approximately 2.9 billion RMB, making it the largest merger and acquisition in the airport industry in the past three years [2]. Group 2: Strategic Implications - The acquisition allows Hainan Airport to achieve unified operational management of three major international airports in Hainan: Haikou Meilan, Sanya Phoenix, and Qionghai Boao, forming a large airport operating group with an annual passenger throughput exceeding 50 million [2]. - This strategic move is expected to enhance Hainan Airport's overall competitiveness in route network layout, commercial resource development, and smart airport construction, while also better positioning the company to capitalize on the growth opportunities presented by the opening of the Hainan Free Trade Port [2].