December 18, 2025, this date that has been recorded in the history of Hainan, is not only the launch day of the island-wide customs closure operation of the free trade port, but also the beginning of a wealth redistribution in the capital market.

With the approval of the Party Central Committee, the island-wide customs sealing operation of the Hainan Free Trade Port is scheduled to be officially launched on December 18, 2025. This island, which is more than 20 times the size of Hong Kong, will soon become a special economic zone "within the territory but outside the customs", enjoying policy benefits such as zero tariffs, free flow of capital, and visa exemption.

As the closing date approaches, the Hainan plate has been moving frequently recently. Hainan Automobile Group hit the daily limit, followed by Hainan Expressway, Haima Automobile, Haima Automobile, Caesars Tourism, Luoniushan, Hainan Rubber, etc.

01 A historic opportunity, the strategic height of Hainan Free Trade Port far exceeds expectations

The construction of Hainan Free Trade Port is not an ordinary local policy, but a major strategic initiative promoted at the national level. Western Securities pointed out in a research report that the Hainan Free Trade Port is an important gateway for China’s “re-globalization”.

Against the background that the Trump 2.0 era may lead to an acceleration of anti-globalization, Hainan, as an important gateway for China's opening up to the outside world in the new era, has a very high strategic positioning.

From a strategic position perspective, Hainan is not inferior to Hong Kong and Shanghai Pudong. Compared with Hong Kong, Hainan has a larger area and broader industrial development potential. Due to its limited area, Hong Kong's manufacturing industry development is restricted, and it can only form a "front shop and back factory" model with the Pearl River Delta.

Hainan, on the other hand, has a larger area, and with tax, trade, and talent policy support, it can combine sales and production to develop processing and high-tech industries.

Compared with Shanghai Pudong, Hainan's degree of openness is not far behind. Hainan implements full-area opening up, has unique tax incentives, and overall policy support is not inferior to Pudong.

In the context of anti-globalization, Hainan, as a key node of the “Belt and Road Initiative”, connects the southeastern coast, ASEAN, and Southeast Asia, and has obvious location advantages.

02 Policy dividends and multi-dimensional layout activate Hainan’s economic potential

After the customs closure, Hainan will implement a true "zero tariff" policy. According to Sohu.com, after the customs closure, the "zero tariff" tax items will increase from 21% to 74%, which will be a direct benefit to tax-free, logistics, agriculture and other enterprises.

At the same time, the size of the cross-border capital pool is expected to exceed 30 billion yuan, and financial platforms will usher in development opportunities.

The Hainan Free Trade Port will also realize free and convenient entry and exit of people, and the number of visa-free countries will increase to 85. The degree of financial liberalization will also be greatly improved, and Hainan Island will be able to imagine all overseas Internet access in the future.

Some media said that in order to enhance the sense of gain for island residents, relevant national departments are jointly conducting research on tax policies for island residents to consume some imported goods tax-free.

At present, relevant national departments are carrying out a new round of research on the optimization and adjustment of offshore island tax-free policies to further enhance the attractiveness of the policy and promote the return of overseas consumption.

03 Dark horse players, three companies each show their talents

Haima Motors: The king of multiple concepts among low-price stocks

Haima Auto (), a local automobile company in Hainan, currently has a stock price of only about 4 yuan, making it one of the lowest-priced "horse" concept stocks in the two cities.

The company combines multiple hot topics: high growth in exports of new energy vehicles, the listing of Chery Automobile (OEM of Chery Jietu), potential restructuring benefits, hydrogen energy batteries, autonomous driving, equity transfer, and Hainan customs closure.

Haima Motors has substantial plans in the field of hydrogen energy vehicles. The company's cooperation with Toyota Motor in the field of hydrogen vehicles is in full swing. Two hydrogen vehicle demonstration operation projects have been put into operation in March and September 2024.

By the end of 2024, the average mileage of 50 hydrogen vehicles has reached 16,000 kilometers. The product quality has been further verified, laying the foundation for industrialization.

As a local automobile company in Hainan, the company has made it clear that it will make good use of Hainan's advantages in exports, logistics and preferential overseas trade policies to strive to strengthen its overseas market business.

At the same time, we strive to find breakthroughs in the utilization of preferential policies such as value-added processing and actively strive for the implementation of relevant cooperation projects.

Wangfujing: Opportunities in Hainan for duty-free giants

Although Wangfujing is not directly mentioned in the search results, as an important participant in the domestic duty-free market, Wangfujing also has development opportunities in the construction of Hainan Free Trade Port.

After Hainan closes customs, duty-free categories will be further expanded, and consumers may save about 20% on purchases of other goods. This will further stimulate the growth of duty-free consumption and bring opportunities to all duty-free industry players.

As a domestic retail giant, Wangfujing has already deployed its duty-free business and is expected to get a piece of the pie thanks to the Hainan Free Trade Port policy. The duty-free and travel retail market is large enough to accommodate the joint development of multiple players.

Hainan development: two-wheel drive of infrastructure and tax exemption

Hainan Development () has made plans in the fields of infrastructure and duty-free curtain walls. It not only participated in the construction of infrastructure such as duty-free cities, but also took shares in duty-free goods groups.

As an enterprise with Hainan's state-owned assets background, Hainan Development can fully integrate policies and resources and enjoy the various dividends brought by the construction of the free trade port.

Hainan Development controls a large amount of infrastructure construction resources in Hainan Island. In the construction process of the free trade port, infrastructure upgrading is an indispensable part, and the company will directly benefit from this process.

04 Investment logic, capturing the “perfect story” in Hainan theme

The Western Securities Research Report believes that the current Hainan Free Trade Port has three major characteristics of the "perfect story" of the bull market: it has huge room for imagination in policy; institutional positions are relatively low; it cannot be falsified in the short term, and has even been "confirmed" in stages.

Market liquidity is relatively abundant, risk appetite is high, and the Hainan theme has been confirmed in stages. Even if the performance is not realized, as long as the policy details continue to be implemented and the implementation of the closure is advanced as planned, the market can continue.

Investment in Hainan should focus on four types of targets: companies with large foreign trade businesses in Hainan; companies expected to benefit from the free trade port and its supporting construction; Hainan tourism consumption-related companies; and other Hainan local benefit companies.

Investors should give priority to companies with "Hainan household registration", especially companies controlled by local state-owned assets (such as Hainan Development, Hainan Automobile Group), or companies whose main business is rooted in Hainan (such as Strait Holdings). These companies can more fully enjoy policy dividends.

05 Risk reminder, we still need to be alert to multiple factors on the road to closing the border

Changes in the international environment, risks of policy changes, and slower-than-expected free trade port construction are all potential risk factors.

The details of the customs closure may be fine-tuned, and for those companies that are slow to implement infrastructure, short-term performance may be under certain pressure.

The valuations of some concept stocks are already high (for example, the tourism stock earnings ratio exceeds 40 times), and it may be safer to wait for a correction in valuation before investing.

Haima Motor faces its own operating challenges. In 2024, the company achieved operating income of 1.775 billion yuan, a year-on-year decrease of 30.28%; product output was 12,025 units, a year-on-year decrease of 60.41%; product sales were 15,497 units, a year-on-year decrease of 44.57%.

These data indicate that companies need to rely on free trade port policies to truly achieve operational turnaround.

The 100-day countdown to the Hainan Free Trade Port’s customs closure has already begun, and the capital market has already taken notice.

Haima Motors has become the focus of attention due to its low price of 4 yuan and the advantages of multiple concepts; Wangfujing is expected to benefit as an important participant in the duty-free industry; Hainan Development relies on state-owned assets and is deeply involved in the fields of infrastructure and duty-free curtain walls.

After the customs closure, Hainan will increase its "zero tariff" tax items from 21% to 74%, and the scale of the cross-border capital pool is expected to exceed 30 billion yuan.

Investors should pay close attention to the progress of the implementation of the customs closure rules, just like waiting for the prelude of a big drama to begin. After all, it will take time to verify the real dividend release.

(This article does not constitute any investment advice. The market is risky, so investment needs to be cautious)