HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) plunged more than 5%, attributed to slowing consumer demand and industry cycle impacts. The company's annual net profit declined by 36.5% year-on-year.

China Tourism Group Duty Free Corporation (01880) plummeted by over 5%, and as of the time of writing, it had fallen by 4.94%, to 46.2 Hong Kong dollars, with a turnover of 173.366 million Hong Kong dollars. On the news front, China Tourism Group Duty Free Corporation announced the preliminary accounting data for the 2024 financial year. The total operating revenue was 56.492 billion Chinese yuan, a year-on-year decrease of 16.36%; the net profit attributable to shareholders of the listed company was 4.262 billion yuan, a year-on-year decrease of 36.5%. It is reported that the net profit in the third quarter of China Tourism Group Duty Free Corporation was 636 million yuan, and after calculation, the net profit in the fourth quarter was 344 million yuan, a decrease of 45.91% from the previous quarter. The announcement stated that in 2024, the net profit attributable to shareholders of the listed company, the net profit attributable to shareholders of the listed company excluding non-recurring gains and losses, and the basic earnings per share all decreased by more than 30% year-on-year, mainly due to the slowdown in consumer demand and industry cycles. The company's operating performance continues to be under pressure. However, the company still achieved certain growth in the Hainan market, airport channels, downtown stores, and overseas business.