Baiyun Airport (600004.SH) intends to cooperate with a partner to establish Guangzhou Baiyun Airport Duty-Free Goods Co., Ltd.

Wisdom Financial News APP, Baiyun Airport (600004.SH) announced that in order to deepen the cooperation between state-owned enterprises and better achieve complementary advantages and strong alliance, jointly develop the duty-free shop business of Guangzhou Baiyun Airport T3 Terminal, enhance the service level and international influence of Baiyun Airport, the company has decided to invest together with China Duty Free Group Co., Ltd. (referred to as "CDFG") to establish CDFG Baiyun Airport Duty Free Co., Ltd. (referred to as "CDFG Airport Company" according to the business registration), and use this company as a platform to operate the duty-free shop in the outbound area of Guangzhou Baiyun Airport T3 Terminal. The registered capital of CDFG Airport Company is RMB 45 million, of which: CDFG will contribute RMB 22.95 million in cash, accounting for 51% of the registered capital; the company will contribute RMB 22.05 million in cash, accounting for 49% of the registered capital.