Review of the operation of the board of directors of HNA Foundation in 2020

The management opinions of the board of directors of HNA Foundation (6005 15) in the first half of 2020 are as follows:

I. Discussion and analysis of operating conditions

In the first half of 2020, according to the data of the National Bureau of Statistics, the GDP was 45.66 trillion yuan, down 1.6% year-on-year. On a quarterly basis, it decreased by 6.8% in the first quarter and increased by 3.2% in the second quarter. In the first half of the year, China's economy fell first and then rose. In the second quarter, economic growth turned from negative to positive, and the main indicators resumed growth. The market expectation is generally good. During the reporting period, faced with the severe epidemic situation and external situation, the management of the company actively took a series of countermeasures to steadily promote various production and operation work on the basis of epidemic prevention and control. Although the company's business income was affected to some extent, the company still built high-quality products and projects based on mature project management experience, and successfully completed the production and operation tasks in the first half of the year.

1, real estate business

During the reporting period, the company's real estate business achieved an operating income of 893 million yuan, with a completed area of 65.438+0073 million square meters, a contracted sales area of about 47,200 square meters and contracted sales of about 848 million yuan. HNA Foundation is gradually withdrawing from the traditional real estate business, focusing on the transformation of airport industrial infrastructure, adjusting its business direction around the airport industrial park, integrating regional resource advantages, strengthening industrial synergy, enhancing overall competitiveness, and building "China's leading integrated airport industry service provider". At the same time, actively strive to participate in the development and construction of airport industrial parks around the country, and newly expand projects such as Tianjin Airport Industrial Park and Yichang Airport Industrial Park.

Haikou Meilan Airport Industrial Park-meilan airport One-stop Aircraft Maintenance Base (Phase I) project is being accelerated. The main structure of the auxiliary workshop of the maintenance workshop of the project was successfully capped on May 24th, 2020, and it is estimated that 202 1 1 30 will be completed. After the project is completed, it will form an international one-stop aircraft maintenance industry platform with multi-orientation, multi-business, multi-channel and whole industry chain, and contribute to accelerating the construction of Hainan Free Trade Port. In addition, HNA Foundation is laying out the relevant formats of the above-mentioned airport industrial park, acquiring 0/00% equity of Tianyu Feixun/KLOC-0, increasing its shareholding of HNA Technology 3 1.93% and improving the airport industrial chain.

2. Airport operations

During the reporting period, the company's airport realized operating income of 5,865,438+0,000 yuan. During the epidemic period, according to the unified deployment of epidemic prevention and control work in various places, the airport actively did a good job in ensuring the transportation of epidemic prevention materials and shouldered social responsibilities with practical actions. Among them, Sanya Phoenix Airport supported and assisted Hubei medical team to return to Qiong for 2 batches and 4 sorties, transporting 339.33 tons of epidemic prevention materials, becoming the first airport in China to guarantee Wuhan's outbound flights, the first airport in Hainan Province to guarantee overseas epidemic prevention materials to enter the island, and the first airport in Hainan Province to guarantee the return of stranded passengers in Hubei. Yichang Three Gorges Airport guaranteed 60 flights of navigation and medical services to chartered flight, transported 99.8 tons of medical emergency materials and transported medical personnel 1777 people. Weifang Nanyuan Airport ensures that all SF cargo planes leave the port to transport epidemic prevention materials about 12 1.9 tons.

Affected by the COVID-19 epidemic, the company's airport business was severely impacted, and various operational indicators dropped significantly. During the reporting period, the company opened a total of 290 routes, with 54,500 aircraft take-offs and landings and 6,376,300 passengers, including international and regional passenger throughput of133,400 passengers, and the number of take-offs and landings, passenger throughput and international and regional passenger throughput decreased by 37.44% respectively.

3. Real estate business

During the reporting period, the company's property business achieved an operating income of 343 million yuan, and actively established a service quality standard system for property and catering projects by formulating online graphic manuals for various post standards and building standardized canteens. Business development will focus on large airports and ports, government agencies, schools, hospitals, high-end residential buildings and high-end office buildings, constantly optimize service management mode and expand market share.

4. Duty-free business

During the reporting period, the tax-free business of the company's share participation realized income of 65.438+0.295 billion yuan, a year-on-year increase of 65.438+0.49%. Among them, meilan airport Duty Free Shop will realize revenue of 65.438+25.5 million yuan in 2020; Meilan duty-free online platform Hainan duty-free official mall realized online sales of 357 million yuan during the reporting period; Hainan HNA Zhong Mian achieved revenue of 28 million yuan in 2020; Tianjin pearl inspection-free realized income of 654.38+0.2 million yuan.

5. Hotel business

During the reporting period, the company's hotel business realized an operating income of 45 million yuan, which was reduced compared with the same period last year due to the COVID-19 epidemic. Hainan Yingbin Hotel, through the analysis and response to the changes in the form of tourist market, has implemented such methods as "room pricing", "room and meal complementation" and "new media marketing" to optimize hotel resources, learn from each other's strong points, balance the occupancy rate and average house price, continuously expand the proportion of business guests and OTA, official micro-tourism, and social exhibition, and seek a steady increase in average house price. In the first half of 2020, the occupancy rate is in the forefront of similar hotels in the region.

Second, possible risks

1, macroeconomic fluctuation risk

The current global economic environment presents a high degree of complexity and uncertainty. Since June 5438+ 10, 2020, novel coronavirus epidemic has occurred in China and many countries or regions in the world. At present, the epidemic situation has been obviously controlled in China, but recently the epidemic situation abroad has spread rapidly and broke out in many countries. This epidemic has had an impact on macro-economy, enterprise management and residents' life, and also on the related industries where the company is located. Although the epidemic situation will not have a significant adverse impact on the company's operating performance and development prospects in the short term, if the epidemic situation develops beyond expectations and presents a long-term trend, it may have a further adverse impact on the company's operating performance.

2. Policy control risks

In 2020, the regulation of the real estate industry will continue the main tone of "the house is for living, not for speculation". Focusing on the regulatory objectives of stabilizing land prices, housing prices and expectations, due to the city's policy, the market has developed steadily, the overall market has stabilized, and real estate investment has further declined.

The civil air transport industry involves the overall strategy of national defense security and the development and utilization of national airspace resources, so the state has formulated the overall development strategy and planning of the industry, and implemented strict policy supervision on the access, operation and development orientation of the industry. For example, the state adjusts the supervision and development policies of the civil aviation industry, such as charging policy, traffic rights policy, airport management mode-oriented policy, airport layout and industrial planning policy, route approval policy, etc. It may have an impact on the operation and development of the company's airport investment operation management business.

3. The risk of declining market demand

Affected by multiple factors, such as the inflection point of demographic dividend and changes in the domestic and international economic situation, there is a risk that the trend of the real economy will fluctuate greatly, which may lead to a decline in consumer confidence and spending power and may have a greater impact on the real estate industry. At the same time, changes in consumer demand will also have a certain impact on the company's airport, tax exemption, hotels and other businesses.

Three. Analysis of core competitiveness during the reporting period

(A) master the core resources of the Airport Industrial Park

HNA is a listed company that grew up in Hainan and is familiar with the Hainan market. Its existing core assets are airport management resources, and it has unique resource advantages by participating in Haikou meilan airport, Sanya Phoenix Airport and other 12 airports. HNA Foundation holds Tianyu Feixun, shares in HNA technology, and builds Haikou Meilan one-stop aircraft maintenance base, which has the core industry professional and technical strength to build an airport industrial park.

(b) Rich experience in project development

HNA Foundation has successively completed the reconstruction and expansion of Sanya Phoenix Airport and the construction of Boao Airport, and has mature experience in the development of airport industrial infrastructure. Planning and development of Dayingshan CBD area in Haikou and Wuhan Airport Industrial Park, with experience in planning and development in this area; We have successfully developed HNA Haoting series and Guoxing City series, developed and operated landmark office buildings such as Hainan Building and HNA International Plaza, and have the planning ability and rich experience of real estate projects and parks.

(3) Mature property management and commercial operation.

After years of business accumulation, HNA Foundation has successfully developed and built dozens of civil aviation airports, urban CBD and other projects. Property management business covers a wide range, including civil airports, 5A office buildings, middle and high-grade residential quarters, commercial complexes and so on. , including 17 1 service items. Business and hotel business, such as Haikou meilan airport Duty Free Shop and Hainan Guest House, has rich experience in project development, engineering construction, investment and operation, and has the advantage of developing a full chain business platform from industrial parks such as planning and design, infrastructure construction, industrial investment promotion and park operation management.