China Tourism Group Duty Free Corporation (01880) released its annual performance report, with a net profit attributable to parent company of 3.586 billion yuan, a year-on-year decrease of 15.97%.

China Tourism Group Duty Free Corporation (01880) released its 2025 performance report. The company achieved a total operating income of RMB 53.694 billion, a decrease of 4.92% year-on-year; net profit attributable to shareholders of the listed company was RMB 3.586 billion, a decrease of 15.97% year-on-year; basic earnings per share was RMB 1.7332. The announcement stated that during the reporting period, the company's main business gross profit margin and operational efficiency continued to improve, with the main business gross profit margin increasing by 0.51 percentage points year-on-year, and inventory turnover ratio increasing by approximately 10%. In the fourth quarter of 2025, the company's main business gross profit margin increased by 4.12 percentage points year-on-year. During the reporting period, in accordance with the requirements of enterprise accounting standards, the company made impairment provisions for the goodwill of key subsidiaries, which had a certain impact on the company's net profit. After excluding the impact of goodwill impairment loss factors, the net profit attributable to the owners of the parent company in the fourth quarter of 2025 increased by 150.63% year-on-year. Recently, the company fully grasped the opportunity of the implementation of the new duty-free policy for Hainan offshore islands and the official closure of the whole island of Hainan. Its key stores in Hainan achieved record sales and foot traffic during the Spring Festival. At the same time, the company is steadily advancing the equity and asset acquisitions of key projects as planned, achieving efficient relocation and opening of key airport stores, effectively meeting the increasing demand from domestic consumption inflows and global tourists.