China Tourism Group Duty Free Corporation's Q1 performance has yet to recover from a continuous decline. In the future, it may benefit from the new tax refund policy for departing travelers | Interpretations
In Q1 of this year, China Tourism Group Duty Free Corporation achieved revenue of 16.746 billion yuan, a year-on-year decrease of 10.96%; net income attributable to the parent company was 1.938 billion yuan, a year-on-year decrease of 15.98%. Analysts indicate that the further promotion of the duty-free "buy and refund" policy for departing travelers and future visa-exempt policies is expected to stimulate a recovery in the number of inbound business and travel passengers.
In Q1, China Tourism Group Duty Free Corporation's revenue decreased by 10.96% year-on-year, and net income fell by 15.8% | Earnings Reports insights.
In the last quarter of last year, China Tourism Group Duty Free Corporation experienced a significant year-on-year decline in revenue and profit. In Q1, the Business continued to be under pressure, with double-digit declines in both revenue and profit. Selling expenses and administrative expenses decreased by 9% and 11% year-on-year respectively. The net cash flow from operating activities decreased by 9.52% year-on-year. At the end of the reporting period, the inventory balance was 15.751 billion yuan, a decrease of approximately 9.21% compared to the 17.348 billion yuan at the end of 2024.
China Tourism Group Duty Free Corporation's revenue and net profit both decreased in 2024. Industry insiders expect that "this year's offshore duty-free sales will drop by another 20%" | Interpretations
China Tourism Group Duty Free Corporation announced that in 2024, it will achieve revenue of 56.474 billion yuan, a year-on-year decrease of 16.38%; the net income attributable to shareholders of the listed company will be 4.267 billion yuan, a year-on-year decrease of 36.44%; analysts expect that this year's sales of duty-free goods in Hainan will further decrease by about 25% compared to 2024.
Hainan's offshore duty-free sales are under pressure, with "duty-free king" experiencing a 77% drop in net income in the fourth quarter.
The city is further increasing duty-free options.
Lack of consumer willingness, china tourism group duty free corporation's performance continues to decline. Net profit in Q3 decreased by 50% year-on-year. interpretations
1. China Tourism Group Duty Free Corporation's Q3 quarterly net income attributable to parent company decreased by over fifty percent year-on-year, with insufficient consumer consumption willingness as the main reason for the decline; 2. Industry insiders said that various tax-free consumption indicators may continue to decline slowly in the short term.
Hainan's offshore duty-free pressure, China Tourism Group Duty Free Corporation's revenue and net profit both declined. Analysts believe that the impact of the new tax-free policy in the city is limited. | Interpretations of financial reports
①This year, China Tourism Group Duty Free Corporation's revenue decreased by 12.81% YoY, and net income attributable to shareholders decreased by 15.07% YoY; ②Recently, several departments issued a notice on improving the policy of downtown duty-free shops, and the Hainan Provincial Department of Commerce hosted the distribution of Hainan Province's 'flight ticket + duty-free' consumer vouchers; ③Analysts believe that the new policy of downtown duty-free shops has a narrow range of customer base and limited impact on the duty-free market.
