Core Viewpoint - Zhuhai Duty-Free Group Co., Ltd. (hereinafter referred to as "the company") has announced its 2025 performance forecast, indicating a significant reduction in losses despite ongoing challenges from its real estate business, which is now considered a past issue [2][3]. Financial Performance - The company expects a net profit attributable to shareholders of between -1.18 billion to -0.92 billion yuan for 2025, reflecting a year-on-year reduction in losses of 22.09% to 39.25% [2]. - The core factor affecting performance is the residual impact of the real estate business, although the company has accelerated its divestment from this sector [2]. - The net profit, excluding non-recurring gains and losses, is projected to show a reduction in losses of 39.42% to 53.42% [2]. Business Focus and Strategy - Following the divestment of its real estate business, the company is now fully focused on its duty-free operations, which have become the core of its business model [3][4]. - The company has established a comprehensive duty-free network across various ports, including land, water, and airport locations, achieving full coverage of key port hubs in Zhuhai [4]. - The company is expanding its operations beyond Zhuhai, with strategic projects like the Sanya Bay No. 1 commercial project in Hainan Free Trade Port, supported by resources from Huafa Group [4]. Future Outlook - The company plans to continue monitoring duty-free industry policies, seize development opportunities, expand product categories, optimize store efficiency, and enhance digital construction to improve operational quality and profitability in 2026 [4].

1月19日晚间，珠免集团(600185.SH)披露2025年度业绩预告。公告显示，公司过去一年受地产业务拖累 等影响，业绩仍存在阶段性亏损，但减亏成果显著。更值得关注的是，房地产拖累已成过去式——公司 已于2025年12月圆满完成格力房产100%股权交割，正式以"轻装上阵"姿态全面聚焦免税主业，为经营 基本面改善注入关键动力。 减亏印证转型成效 根据公司公告，公司已于2025年12月24日披露《重大资产出售暨关联交易实施情况报告书》，完成珠海 格力房产有限公司100%股权的出售，标志着公司重大资产出售工作圆满落地，去地产化转型收官。 这种果断的战略调整，既规避了房地产行业持续下行的风险，更通过现金回笼大幅优化了财务结构。交 易资金的陆续注入将有效降低资产负债率，优化资本结构，缓解资金压力，为后续免税主业扩张储备充 足"弹药"。 免税高护城河优势凸显 剥离地产后，珠免集团的业务版图变得非常清晰，即聚焦以免税为核心的大消费产业发展。 目前，珠免集团已构建起陆路、水路、机场全类型口岸免税网络。在珠海大本营，公司实现了对珠海拱 北口岸、港珠澳大桥珠海公路口岸、横琴口岸、青茂口岸、湾仔口岸、九洲港等各大核心口岸枢纽的全 ...

人民财讯1月19日电，珠免集团（600185）1月19日公告，预计2025年实现归属于母公司所有者的净利润 为亏损9.2亿元到11.8亿元。报告期内，公司房地产业务结转规模与收入下降，结转毛利同比下降。公司 已完成珠海格力房产有限公司(简称"格力房产")100%股权的出售，根据企业会计准则相关要求，本期业 绩预告数据仍包含格力房产2025年度收入、费用及利润。 ...

格隆汇1月19日丨珠免集团（维权）(600185.SH)公布，公司预计2025年年度实现归属于母公司所有者的 净利润为-118,000万元到-92,000万元，预计实现归属于母公司所有者的扣除非经常性损益的净利润 为-112,500万元到-86,500万元。 ...

| 证券代码：600185 | 股票简称：珠免集团 | | 编号：临 2026-002 | | --- | --- | --- | --- | | 债券代码：250772 | 债券简称：23 | 格地 01 | | 珠海珠免集团股份有限公司 2025 年年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ●本期业绩预告的具体适用情形：净利润为负值。 ●珠海珠免集团股份有限公司（以下简称"公司"）预计 2025 年年度实现归 属于母公司所有者的净利润为-118,000 万元 到-92,000 万元，预计实现归属于母 公司所有者的扣除非经常性损益的净利润为-112,500 万元 到-86,500 万元。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 2026 年，公司将持续关注免税行业政策，把握行业发展机遇，拓展商品新 品类，优化口岸门店效能，加强数智化建设，提升经营质量和盈利水平。 二、2024 年度经营业绩情况和财务状况 （一）利润 ...

格隆汇1月19日丨珠免集团(600185.SH)公布，公司预计2025年年度实现归属于母公司所有者的净利润 为-118,000万元到-92,000万元，预计实现归属于母公司所有者的扣除非经常性损益的净利润为-112,500 万元到-86,500万元。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600185 股票简称：珠免集团 编号：临2026-001 债券代码：250772 债券简称：23格地01 珠海珠免集团股份有限公司（以下简称"公司"）近日收到上海证券交易所（以下简称"上交所"）出具的 《关于对珠海珠免集团股份有限公司非公开发行公司债券挂牌转让无异议的函》（上证函〔2026〕32 号，以下简称"无异议函"）。 根据该无异议函，公司面向专业投资者非公开发行总额不超过4亿元的公司债券（以下简称"本次债 券"）符合上交所的挂牌转让条件，上交所对本次债券挂牌转让无异议。该无异议函自出具之日起12个 月内有效，公司可在无异议函有效期及上述额度内分期发行本次债券并办理债券挂牌转让手续。 公司将按照有关法律法规、无异议函要求及公司股东会的授权，办理本次面向专业投资者非公开发行公 司债券的相关事宜，并及时履行信息披露义务。 特此公告。 珠海珠免集团股份有限公司 董事会 二〇二六年一月八日 珠海珠免集团股份有限公司 关于收到非公开发行公司债券挂牌转让无异议函的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其 ...

| 证券代码：600185 | 股票简称：珠免集团 | | 编号：临 2026-001 | | --- | --- | --- | --- | | 债券代码：250772 | 债券简称：23 | 格地 01 | | 珠海珠免集团股份有限公司 关于收到非公开发行公司债券挂牌转让无异议函的公告 公司将按照有关法律法规、无异议函要求及公司股东会的授权，办理本次面向 专业投资者非公开发行公司债券的相关事宜，并及时履行信息披露义务。 特此公告。 珠海珠免集团股份有限公司 董事会 二〇二六年一月八日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 珠海珠免集团股份有限公司（以下简称"公司"）近日收到上海证券交易所（以 下简称"上交所"）出具的《关于对珠海珠免集团股份有限公司非公开发行公司债 券挂牌转让无异议的函》（上证函〔2026〕32 号，以下简称"无异议函"）。 根据该无异议函，公司面向专业投资者非公开发行总额不超过 4 亿元的公司债 券（以下简称"本次债券"）符合上交所的挂牌转让条件，上交所对本次债券挂牌 转让无异议。该无异议 ...

Investment Rating - The report maintains a "Positive" outlook for the social services industry [4] Core Insights - The Ministry of Culture and Tourism data aligns with expectations, highlighting strong performance in duty-free shopping, inbound tourism, and leading mountain scenic spots. The upcoming long Spring Festival holiday and supportive tourism policies are expected to boost domestic consumption, leading to a favorable outlook for the social services industry in 2026 [3][7] Summary by Sections Domestic Tourism Demand - Domestic travel demand is steadily increasing, with 142 million domestic trips taken during the New Year holiday, a 5.2% increase compared to 2024. Total domestic travel expenditure reached 84.79 billion yuan, up 6.3% year-on-year, with per capita spending increasing by 1.1% [7] Duty-Free Shopping - Duty-free sales in Hainan during the New Year holiday showed significant growth, with 442,000 items sold, a 52.4% increase year-on-year. The number of shoppers reached 83,500, up 60.6%, and total spending was 712 million yuan, a 128.9% increase. This growth is attributed to the official launch of duty-free operations, new policies, and promotional activities [7] Scenic Spots - Leading mountain scenic spots demonstrated strong visitor elasticity, with Huangshan receiving over 75,000 visitors (up 76.5% year-on-year), Emei Mountain hosting 126,200 visitors (up 20.9%), and Changbai Mountain seeing a 41% increase in visitors compared to 2025. The expansion of high-speed rail and airports contributed to this growth [7] Online Travel Agencies (OTAs) - Inbound tourism and winter sports are emerging as key growth drivers, with a 110% year-on-year increase in inbound ticket bookings and a more than 30-fold increase in experiential product bookings. Domestic winter sports continue to be a central theme for growth in 2026 [7]

Group 1 - The core point of the news is that Zhuhai Zhimian Group Co., Ltd. has successfully completed a major asset sale, marking its strategic shift away from real estate to focus on its core duty-free business [1][3] - The company sold 100% equity of Gree Real Estate for a cash consideration of 5.518 billion yuan, demonstrating its commitment to divest from real estate and fulfill its promise to exit the sector within five years [1] - This transaction aligns with national policy directions aimed at enhancing domestic demand and consumption, reflecting the company's proactive approach to strategic transformation [3] Group 2 - The asset sale is a typical practice of state-owned enterprises deepening reforms and focusing on their main responsibilities, in line with the central economic work conference's emphasis on domestic market development [3] - The transaction is expected to optimize Zhuhai Zhimian Group's business structure and enhance the intrinsic value of its pure duty-free operations, supporting the expansion of its national duty-free network [3] - The company aims to leverage its financial services to assist more enterprises in achieving transformation and upgrading through resource integration, contributing to high-quality development of the real economy [5]