Core Viewpoint - China Tourism Group Duty Free Corporation (China Duty Free) has won the bid for the duty-free project at Beijing Capital International Airport, which is expected to enhance its market position and positively impact future business performance [1] Group 1: Project Details - The winning bid is for the 01 section of the duty-free project at Terminal 3 of Beijing Capital International Airport, with a minimum operating fee of 480 million yuan for the first year and a sales commission rate of 5% [1] - The operating period for the project is set from the contract start date until February 10, 2034, not exceeding 8 years [1] Group 2: Strategic Implications - The project is anticipated to strengthen China Duty Free's channel advantages in key domestic airports, catering to the diverse shopping needs of inbound and outbound travelers [1] - Successful implementation of the project is expected to drive high-quality development of the airport duty-free business [1] Group 3: Contractual Status - As of now, the company has not signed a formal contract, and the terms remain uncertain, with final details to be confirmed upon contract signing [1]

Core Viewpoint - China Duty Free Group, a wholly-owned subsidiary of China National Duty Free Group, has won the bid for the duty-free project at Beijing Capital International Airport, with a minimum operating fee of 480 million yuan for the first year and a sales commission rate of 5% for the first year [1] Group 1 - The project contract duration is from the start date specified in the contract until February 10, 2034, not exceeding 8 years [1] - Winning this bid will enhance the company's channel advantages in core domestic airports, catering to the diverse shopping needs of inbound and outbound travelers [1] - The project aims to improve the diversified duty-free shopping experience, thereby promoting high-quality development of airport duty-free business [1]

Core Viewpoint - China Duty Free Group, a wholly-owned subsidiary of China National Duty Free, has won the bid for the duty-free project at Beijing Capital International Airport, with a guaranteed operating fee of 480 million yuan for the first year and a sales commission rate of 5% for the first year [1] Group 1 - The contract duration is set from the start date specified in the agreement until February 10, 2034 [1] - Winning this project will enhance the company's channel advantages at core domestic airports, catering to the diverse shopping needs of inbound and outbound travelers [1] - The successful implementation of this project is expected to positively impact the company's future operating performance [1]

Core Viewpoint - China Duty Free Group has secured significant contracts for duty-free operations at major airports, enhancing its market position and expected to positively impact future performance [1][2] Group 1: Recent Contracts - China Duty Free Group's subsidiary won the bid for the duty-free project at Beijing Capital International Airport, with a minimum operating fee of 480 million yuan in the first year and a sales commission of 5% [1] - The company also won contracts for duty-free stores at Shanghai Pudong and Hongqiao International Airports, establishing a joint venture with Shanghai Airport, where it holds a 51% stake [2] Group 2: Financial Performance - In the first three quarters of the year, China Duty Free Group reported revenues of 39.86 billion yuan and a net profit of 4.42 billion yuan, reflecting year-on-year declines of 7.34% and 18.89% respectively [3] Group 3: Business Strategy - The company is optimizing its product offerings, shifting focus from traditional categories like cosmetics and tobacco to high-demand items such as electronics and health products [3] - Membership numbers have exceeded 45 million, with increasing engagement and repurchase rates, indicating a strong customer loyalty strategy [3] Group 4: Policy and Market Adaptation - The company is actively involved in providing feedback on operational challenges to government departments, aiming for continuous policy improvements that align with market needs [4] - Recent sales data from Hainan's duty-free market shows positive growth, attributed to product optimization, enhanced customer experience, and effective marketing strategies targeting younger consumers [4]

Core Viewpoint - The establishment of the Hainan Free Trade Port on December 18 is expected to significantly boost the local economy, particularly in consumption, tourism, high-end services, and high-tech industries, with a notable increase in duty-free shopping and tourist traffic [1][3][20]. Group 1: Economic Impact - The core operational model of the Hainan Free Trade Port is characterized by "one line open, two lines controlled, and free movement within the island," which aims to create a favorable business environment [3][16]. - The first day of the duty-free shopping post-closure saw sales reach 161 million yuan, a year-on-year increase of 61%, indicating strong consumer demand [7][20]. - The duty-free sector is experiencing a valuation recovery, with significant sales growth in various product categories such as cosmetics and electronics [20][21]. Group 2: Industry Transformation - The closure is set to reshape the local consumption and tourism landscape, establishing Hainan as an international tourism consumption center [6][19]. - The modern service industry is expected to advance towards higher-end and international standards, attracting international financial and professional service institutions [19]. - The high-tech industry is anticipated to benefit from the policy changes, creating a new hub for research and manufacturing, particularly in the biopharmaceutical sector [19]. Group 3: Corporate Strategies - Companies like China Duty Free Group are positioned as market leaders, with a significant share of the duty-free market in Hainan, capturing 82% of the market by 2024 [22]. - Local enterprises are actively upgrading their strategies, while external companies are entering the market to capitalize on the opportunities presented by the free trade port [22][23]. - The tourism sector is also seeing consolidation, with companies like Caesar Travel acquiring local businesses to enhance their market presence [25]. Group 4: Future Prospects - The policy changes are expected to benefit all retail formats across the island, with a focus on high-end department stores and domestic brands entering the duty-free market [25]. - The integration of domestic brands into the duty-free shopping experience is anticipated to provide a global platform for showcasing and selling high-quality Chinese products [25].

Group 1 - *ST Changyao received a warning for potential delisting due to three consecutive years of inflated revenue and profits, with a proposed fine of 10 million yuan for the company and 31 million yuan for 14 individuals involved [2] - Newquan Co. plans to issue H-shares and list on the Hong Kong Stock Exchange [3] - State Grid Yingda intends to sell 100% equity of Yingda Futures for 1.129 billion yuan [4] Group 2 - Baihua Pharmaceutical's controlling shareholders are planning a transfer of shares that may lead to a change in control, with trading suspension starting December 29 [5] - China Duty Free Group's subsidiary won a bid for the Beijing Capital International Airport duty-free project, with a guaranteed operating fee of 480 million yuan for the first year [6] - Yongding Co. clarified that it does not manufacture controlled nuclear fusion devices but provides materials for the magnetic coils, with minimal impact on its revenue [7] Group 3 - Zaiseng Technology reported no current orders for its high-silica fiber products, which have a negligible impact on overall revenue [8] - Hongxing Development announced the relocation and suspension of its subsidiary Dazuhongdie, with production equipment being transferred to another subsidiary [9] Group 4 - Meilixin received a supplier designation from a global commercial vehicle company, expecting total sales of approximately 640 million yuan over the next seven years [11] - Jianghe Group's subsidiary won a contract for a project worth about 112 million yuan, representing 0.5% of the company's projected revenue for 2024 [12] Group 5 - Xugong Machinery's controlling shareholder plans to increase its stake in the company by investing between 80 million and 160 million yuan [14] - Tengjing Technology's shareholder, Longyao Investment, intends to reduce its stake by up to 1.902% through block trading [15]

Group 1 - The core point of the article is that China Duty Free Group, a wholly-owned subsidiary of China National Duty Free Corporation, has won the bid for the duty-free project at Beijing Capital International Airport, confirming its position as the contractor for the project [1] - The guaranteed operating fee for the first year is set at 480 million yuan, indicating a significant financial commitment from the company [1] - The sales commission rate for the first year is established at 5%, which will contribute to the company's revenue from this project [1]

证券代码：601888 证券简称：中国中免 公告编号：临2025-039 中国旅游集团中免股份有限公司 关于全资子公司项目中标的公告 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，并对其内容的真实性、准确性和完整性承担法律责任。 2025 年 12 月 26 日，中国旅游集团中免股份有限公司（以下简称"公司"） 收到中招国际招标有限公司发来的《中标通知书》，确认公司全资子公司中国免 税品（集团）有限责任公司为北京首都国际机场免税项目 01 标段的中标人。具体 情况如下： 一、中标项目情况 （五）经营期限：自合同约定的起始日起至 2034 年 2 月 10 日止（不超过 8 年） （一）项目名称：北京首都国际机场免税项目 （二）中标标段：01 标段，T3 航站楼 （三）中标人：中国免税品（集团）有限责任公司 （四）中标金额：首年保底经营费 48,027 万元，首年销售额提成比例 5% 1 特此公告。 二、对公司的影响 上述项目签约后，公司于国内核心机场的渠道优势将进一步提升，有利于满 足出入境旅客多层次、多样化的购物需求，提升多元化免税购物体验，进而推动 机场免税业务高质量发 ...

Core Viewpoint - China Duty Free Group, a wholly-owned subsidiary of China National Duty Free, has won the bid for the duty-free project at Beijing Capital International Airport, with a guaranteed operating fee of 480 million yuan for the first year and a sales commission rate of 5% for the first year [1] Group 1 - The project will enhance the company's channel advantages in key domestic airports [1] - It is expected to promote the high-quality development of airport duty-free business [1] - The operating period of the contract is from the agreed start date until February 10, 2034 [1] Group 2 - The contract terms still contain uncertainties, with specific details to be confirmed in the final signed contract [1]

Core Viewpoint - China Duty Free Group has won the bid for the duty-free project at Beijing Capital International Airport, which is expected to enhance the company's channel advantages and improve the shopping experience for travelers [1] Group 1: Project Details - The project bid amount is approximately 480 million yuan for the first year, with a sales commission rate of 5% for the first year [1] - The operational period of the contract is set from the start date until February 10, 2034, not exceeding 8 years [1] Group 2: Strategic Implications - Winning this project will further strengthen the company's position in core domestic airport channels, catering to diverse shopping needs of inbound and outbound travelers [1] - Successful implementation of the project is anticipated to positively impact the company's future operational performance [1] Group 3: Contract Status - The company has not yet signed a formal contract, and the terms remain uncertain until the final contract is executed [1] - The company will continue to monitor the project's progress and fulfill information disclosure obligations as required by domestic and international laws [1]