Guangzhou Baiyun Airport forms duty-free joint venture, terminates ad contract

Guangzhou Baiyun International Airport Co. Ltd. has announced a joint investment with China Duty Free Group Co. Ltd. to establish China Duty Free Group Guangzhou Baiyun Airport Duty Free Products Co. Ltd. The new entity, with a registered capital of RMB 45 million, will operate duty-free shops in the T3 terminal. China Duty Free Group will hold 51% and Guangzhou Baiyun International Airport will hold 49%. This move aims to enhance service and international influence, aligning with policies encouraging duty-free business expansion.

In a separate development, Guangzhou Baiyun International Airport's wholly-owned subsidiary, Guangzhou Baiyun International Advertising Co. Ltd., has agreed to prematurely terminate its T2 Advertising Operations Contract with Di'an Twin Win Group Co. Ltd. The termination, effective November 30, 2025, follows changes in objective circumstances for Di'an Twin Win Group. Guangzhou Baiyun International Advertising Co. Ltd. will receive RMB 25,555,398.67 in compensation.

This contract termination will not materially impact the company's financial or operational status, allowing Guangzhou Baiyun International Advertising Co. Ltd. to proceed with re-tendering the T2 advertising operations. Both announcements are dated September 27, 2025.