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.
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