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

China Tourism Group Duty Free Corporation (01880) announced that recently, the company received a "Bid Award Notification" from Shanghai International Airport confirming that its wholly-owned subsidiary China Duty Free Group Limited (CDFG) has been awarded the duty-free shop projects at Shanghai Pudong International Airport and Shanghai Hongqiao International Airport. CDFG has signed contracts with Shanghai International Airport and its holding subsidiary Shanghai Hongqiao International Airport Limited (Hongqiao Airport) for the operation rights transfer of the duty-free shops in the international areas of T2 terminal and S2 satellite hall at Shanghai Pudong International Airport and the international area of T1 terminal at Shanghai Hongqiao International Airport. CDFG has invested RMB 102 million with Shanghai International Airport to establish a duty-free joint venture company, in which CDFG holds 51% and Shanghai International Airport holds 49% of the shares. The duty-free joint venture company will operate the duty-free shops at the international areas of T2 terminal and S2 satellite hall at Shanghai Pudong International Airport and the international area of T1 terminal at Shanghai Hongqiao International Airport. After winning the bid and signing the contracts, the company's channel advantage at domestic core airports will be further enhanced, which will help meet the multi-level and diversified shopping needs of inbound and outbound travelers, improve the diversified duty-free shopping experience, and promote high-quality development of airport duty-free business. If the above-mentioned projects are successfully implemented, they will have a positive impact on the company's future business performance and development.