China Tourism Group Duty Free Corporation (01880) released its 2024 interim financial report, with a net profit of 4.263 billion yuan, a decrease of 36.5% year-on-year.

China Tourism Group Duty Free Corporation (01880) released its 2024 performance report. The group achieved a total operating income of RMB 56.492 billion, a decrease of 16.36% year-on-year; net profit attributable to the shareholders of the listed company was RMB 4.263 billion, a decrease of 36.5% year-on-year; basic earnings per share were RMB 2.0605. During the reporting period, the company persevered and excelled against the trend: continuing to deepen its market presence in Hainan, introducing a new "duty-free+" shopping experience, and creating a new pattern of deep integration of "culture, commerce, sports, and travel". The market share of duty-free sales in Hainan's outlying islands increased by nearly 2 percentage points year-on-year. The company strengthened and expanded its airport channels, with duty-free business at airports showing continued improvement. Duty-free store revenue at Beijing Airport (including Capital International Airport and Daxing International Airport) increased by over 115% year-on-year, and at Shanghai International Airport (including Pudong International Airport and Hongqiao International Airport) it increased by nearly 32% year-on-year. The company optimized its business layout in urban areas and actively expanded new projects in city center duty-free stores, successfully bidding for duty-free store projects in Shenzhen, Guangzhou, Xi'an, and Fuzhou, with the opening of a new duty-free store in Dalian. The company also made progress in expanding its overseas business, with the opening of boutique stores at Singapore Changi Airport and Hong Kong International Airport, as well as the opening of jewelry brand duty-free counters in Ginza, Tokyo and duty-free stores in Sri Lanka. Implementing the strategy of "going global" for Chinese brands, the company is promoting a new pattern of global development and facilitating the advancement of Chinese brands in the international market, achieving a win-win situation for sustainable development and cultural dissemination. Through digital empowerment, the company has enhanced member operations, improving customer experience and loyalty. As of now, China Duty Free Group has over 38 million members, with a year-on-year increase in member repurchase rate by 1 percentage point. Next, the company will actively seize the favorable opportunity of the country's efforts to boost consumption and expand domestic demand in all aspects, adhere to seeking progress while maintaining stability, focus on its main responsibilities and business, seize business development opportunities, strive to improve the company's operational quality and efficiency, and promote the high-quality development of the company.