Haiqi Group: Major asset restructuring faces obstacles, target company incurs a loss of 146 million yuan in 2025.

Haiqi Group announced that it plans to acquire the controlling rights of Hailv Duty-free after divesting the Huating project through cash payment and/or asset acquisition. In the fiscal year 2025, the target company incurred a loss of 146 million yuan after excluding the Huating project, with a significant decrease in gross profit contribution compared to the previous year due to factors such as adjustments in subsidy policies for offshore duty-free businesses. Influenced by factors such as intense competition in the domestic duty-free market and slowing consumer demand, the future performance improvement of the target company has high uncertainty. There are significant obstacles to the advancement of this transaction, and the possibility of its ultimate completion is highly uncertain.