Hainan Airlines Group: Intends to acquire controlling stake in Hainan Duty Free, uncertainty in restructuring progress.

The announcement of Hainan Airlines Group stated that the company plans to acquire the controlling rights of Hainan Travel Duty Free after divesting the Huating project through cash payment and/or asset acquisition, without issuing shares or raising funds. The original restructuring plan involved issuing shares, paying cash to purchase all the shares of Hainan Travel Duty Free, and raising funds. In September 2024, the company plans to make significant adjustments to the original plan. Since the adjustment, due to fierce competition in the domestic duty-free market and a slowdown in consumer demand, the target company's performance has fallen short of expectations, and there are obstacles to the restructuring process. The possibility of the final implementation remains highly uncertain.