资金流向方面，主力资金净流入1516.65万元，特大单买入3185.37万元，占比10.25%，卖出1974.61万 元，占比6.35%；大单买入7359.22万元，占比23.68%，卖出7053.33万元，占比22.70%。 海南机场今年以来股价涨2.25%，近5个交易日跌1.28%，近20日跌0.26%，近60日涨15.74%。 今年以来海南机场已经1次登上龙虎榜，最近一次登上龙虎榜为7月24日，当日龙虎榜净买入9544.87万 元；买入总计2.75亿元 ，占总成交额比22.88%；卖出总计1.80亿元 ，占总成交额比14.94%。 9月5日，海南机场盘中上涨2.12%，截至14:08，报3.86元/股，成交3.11亿元，换手率0.89%，总市值 441.02亿元。 海南机场所属申万行业为：房地产-房地产开发-住宅开发。所属概念板块包括：海南国资、民用航空、 免税概念、海南自贸区、园区开发等。 截至7月31日，海南机场股东户数13.13万，较上期增加44.62%；人均流通股69873股，较上期减少 30.86%。2025年1月-6月，海南机场实现营业收入23.11亿元，同比增长2.66%；归母净利润1.2 ...

8月25日晚，海南机场（600515）设施股份有限公司(600515.SH，下称"海南机场")发布2025年半年报，报告显示业绩表现仍然承压。 具体来看，2025年上半年实现营业收入23.11亿元，与去年同期相比增长2.66%；期内实现利润总额1.80亿元，归母净利润1.28亿元。 值得注意的是，海南机场的报表已经出现业绩回暖，一方面得益于主业发展稳健，基本盘稳固。今年上半年，海南机场在国际航线拓展、重点 项目推进及财务结构优化等方面均有明显进展和改善。 另一方面也受益于未来多重利好因素的预期，接下来，海南自贸港年底封关、收购美兰空港以及机场三期扩建项目，将有望为后续业绩反弹注 入新动力，重塑海南机场的商业价值。 三亚凤凰国际机场三期改扩建项目 三亚凤凰国际机场国际航班旅客 海南自贸港大封关航空物流及加工产业示范基地项目 主动破题求变的"调整期"业绩表现回暖 过去一段时间，海南机场的业绩表现有明显波动，是其适应经济周期变化，坚定推进"去地产化"战略转型的必然结果，但痛苦与希望并存，这 背后是短期调整和长期主义的深度博弈，十分考验其战略定力。 财报显示，2025年上半年实现营收23.11亿元，与去年同期相比增长 ...

Investment Rating - The investment rating for Hainan Airport is "Outperform the Market" (maintained) [3][14]. Core Viewpoints - The major shareholder's increase in holdings reflects confidence in the company's medium-term prospects, as the controlling shareholder, Hainan Airport Group, increased its stake from 24.51% to 24.87% through a block trade [4][5][8]. - The company's performance is expected to be under pressure in the short term due to the pace of real estate destocking and a decline in contributions from Hainan's duty-free sales. The forecast for 2024 indicates a net profit attributable to shareholders of RMB 320-480 million, representing a year-on-year decline of 49.62%-66.41% [5][9]. - The company is focusing on its core business development, with the expansion of Sanya Airport expected to enhance passenger capacity by 30% to 30 million by the end of 2025. The company is well-positioned to benefit from the construction of the Hainan Free Trade Port [6][10]. Summary by Sections Shareholder Activity - Hainan Airport Group acquired a total of 41,792,448 shares at a price of RMB 3.69 per share, totaling approximately RMB 154.21 million, which helps eliminate historical cross-shareholding issues and demonstrates confidence in future growth [4][8]. Financial Performance - The company anticipates a significant decline in net profit for 2024, with estimates ranging from RMB 320 million to RMB 480 million, and a non-recurring net loss of RMB 200 million to RMB 400 million, primarily due to asset disposals and debt restructuring [5][9]. Business Strategy - Hainan Airport is shifting its focus back to its core operations, with airport management revenue expected to exceed 40% in 2024. The company is also modifying its articles of association to improve its dividend distribution mechanism [6][10]. Investment Recommendations - Adjustments to revenue assumptions for real estate and duty-free operations have been made, with net profit forecasts for 2024-2026 revised to RMB 466 million, RMB 729 million, and RMB 895 million, respectively. The company is expected to benefit from its strategic positioning in the Hainan Free Trade Port [7][13].