China Tourism Group Duty Free Corporation (01880): China Duty Free Group wins bid for duty-free store projects at Shanghai Pudong International Airport and Hongqiao International Airport.

China Tourism Group Duty Free Corporation (01880) announced that recently, the company received a "Notice of Winning Bid" from Shanghai International Airport. The company's wholly-owned subsidiary, China Duty Free Group Co., Ltd. (CDFG), has been confirmed as the winning bidder for the duty-free shops projects at Shanghai Pudong International Airport and Shanghai Hongqiao International Airport. CDFG has signed contracts for the transfer of operating rights for the duty-free shops projects at Shanghai Pudong International Airport (T2 terminal and S2 satellite hall international area) and Shanghai Hongqiao International Airport (T1 terminal international area) with Shanghai International Airport and its subsidiary, Shanghai Hongqiao International Airport Co., Ltd. (Hongqiao Airport Co.). CDFG and Shanghai International Airport will jointly invest RMB 102 million to establish a duty-free joint venture company, with CDFG holding 51% of the shares and Shanghai International Airport holding 49%. The duty-free joint venture company will operate the duty-free shops at Shanghai Pudong International Airport (T2 terminal and S2 satellite hall international area) and Shanghai Hongqiao International Airport (T1 terminal international area). With the successful bid and signing of the contracts for this project, the company's channel advantages at core domestic airports will be further enhanced, which will help meet the diverse shopping needs of inbound and outbound travelers, improve the diversified duty-free shopping experience, and promote the high-quality development of airport duty-free business. If the above-mentioned project is successfully implemented, it will have a positive impact on the company's future business performance and development.