Haiqi Group released a major asset restructuring progress announcement after market close on September 24, proposing to acquire control of Hainan Tourism Investment Duty Free Goods Company after divesting the Huating project, through cash and/or asset payment. This transaction does not involve issuing shares or raising supporting funds. The company's original plan was to issue shares to Hainan Tourism Investment and pay cash to purchase all equity of Hainan Tourism Duty Free and raise supporting funds. On September 2, 2024, the board of directors approved a major adjustment proposal, and the specific asset scope still requires further negotiation between the parties. The announcement cited Hainan Tourism Investment's Corporate Bond Annual Report 2025, showing that the duty free business segment accumulated a loss of 340 million yuan in 2025, including a loss of 146 million yuan in offshore duty free business, a loss of 194 million yuan in the Hainan Tourism Super Body taxed commercial project, and a loss of 146 million yuan for the target company after excluding the Huating project. The company cautioned that, affected by intense competition in the domestic duty free market and slowing consumer demand, there is significant uncertainty over whether the target company's future performance can improve, major obstacles exist in advancing this restructuring, and there is significant uncertainty over whether the transaction can ultimately be completed. Haiqi Group achieved operating revenue of 281 million yuan in the first half of 2026, down 22.46 percent year on year, with net profit attributable to shareholders of the listed company at negative 44.6476 million yuan, a loss widening 60.74 percent year on year.
Hainan Haiqi Transportation Group Co LtdHaiqi's restructuring to acquire control of Hainan Tourism Duty Free faces major obstacles and significant completion uncertainty, while its H1 2026 revenue fell 22.46% and net loss widened 60.74%.
The target duty free company posted a 146 million yuan loss in 2025 amid intense domestic duty free competition and slowing consumer demand, with significant uncertainty over future performance improvement.
Hainan Tourism Investment's duty free segment accumulated a 340 million yuan loss in 2025, including 146 million yuan in offshore duty free, per its Corporate Bond Annual Report 2025.
