Hainan Airport Infrastructure's Unit Extends Lease Agreement With Duty Free Firm

MT Newswires Live2025-01-08

Hainan Airport Infrastructure's (SHA:600515) unit, Hainan Island Commercial Management, agreed to extend a lease agreement with Haimian (Haikou) Duty Free Shop for 60 more months, according to a Shanghai Stock Exchange disclosure on Wednesday.

Haimian Haikou is leasing 24,902 square meters of houses in the Sun Moon Plaza in China's Haikou City for the operation of offshore duty-free business.

The previous lease was supposedly valid until Dec. 31 this year, but it is extended until Dec. 31, 2030.

The minimum rent will amount 75 million yuan, based on the minimum rent in 2023, the Chinese airport industrial park developer said.

Hainan Airport Infrastructure's shares slipped more than 1% in recent trade.

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