In response to uncertainties in core business and to develop new quality productivity, Xiamen Airport acquires ZhaoXiang Technology for 1.193 billion yuan

On February 12, 2026, Xiamen Airport (600897) announced a related-party transaction, proposing to acquire 100% equity of Zhaoxiang Technology, a subsidiary of the controlling shareholder Xiangye Group, with self-owned funds of 1.193 billion yuan. This transaction constitutes a related-party transaction but does not involve a major asset restructuring. The acquisition is part of Xiamen Airport’s strategic response to the uncertainties in the continued operation of its main airport business following the transition to the new airport, as well as an active response to the national call for listed companies to transform and upgrade towards new productive forces. The company is closely focusing on the aviation industry chain to develop new business layouts.

After the transaction is completed, Zhaoxiang Technology will become a wholly owned subsidiary of the company and will be included in the consolidated financial statements. The transaction amount is 1,193 million yuan, paid with self-owned funds, and does not involve issuing shares, thereby avoiding dilution of the interests of minority shareholders. Additionally, the transaction includes performance commitment clauses as a safeguard for the transaction value. If the performance targets are not met within three years, Xiangye Group will compensate in cash proportionally to the shortfall, with the maximum compensation not exceeding the transaction price. This arrangement effectively reduces the risk of profit uncertainty after the acquisition.

Zhaoxiang Technology, as the core target of this acquisition, plays a key role in supporting the transaction with its industry position and core competitiveness. Founded in 1996 with a registered capital of 101 million yuan, it is a national demonstration enterprise for sci-tech reform and a high-tech enterprise. Its main businesses cover civil aviation information system integration, building intelligent systems integration, software development, and information technology services, aligning precisely with Xiamen Airport’s transformation needs. The company has deep technological barriers and market influence in civil aviation informatization. Zhaoxiang Technology holds 31 patents and over 200 software copyrights, providing in-depth services in smart security checks, efficient gate allocation, and ground service intelligent scheduling. Its clients include major hub airports such as Beijing Daxing, Shanghai Pudong, and Guangzhou Baiyun, with industry-leading business strength.

The core motivation for this acquisition is Xiamen Airport’s strategic response to the uncertainty of its main business while expanding into new productive fields. According to the planning and deployment of Xiamen city, Xiamen Xiang’an International Airport is scheduled to be officially put into operation by the end of 2026, and Xiamen Gaoqi International Airport operated by Xiamen Airport will be closed simultaneously, ceasing to serve as a civil transportation airport. To actively address the uncertainties in the continued operation of the main airport business after the transition to the new airport, and in response to the national call for transformation towards new productive forces, the company is focusing on developing new businesses along the aviation industry chain. Zhaoxiang Technology specializes in civil aviation informatization, smart logistics, and low-carbon transformation. As a national demonstration enterprise for sci-tech reform and a high-tech enterprise, this transaction will not only enhance the company’s sustainable profitability and risk resistance but also promote the extension of its business into emerging fields such as civil aviation intelligence, thereby improving its core competitiveness and long-term development potential.