China Tourism Group Duty Free's Q1 Attributable Profit Slides 16%; Shares Rise 3%

MT Newswires03:17 ET

Hong Kong stocks fluctuating | China Tourism Group Duty Free Corporation (01880) rose over 3% as the decline in Hainan's offshore duty-free sales narrowed and the outbound tax refund policy was further optimized.

China Tourism Group Duty Free Corporation (01880) rose over 3%, as of the time of writing, it increased by 3.23%, trading at 52.75 Hong Kong dollars, with a transaction volume of 0.166 billion Hong Kong dollars.

Zhitong Finance02:53 ET

【Special Contributor】CITIC SEC: The regulations for outbound tax refunds have been implemented, accelerating promotion to boost domestic demand.

Jinwu Financial News | CITIC SEC stated that since the beginning of this year, China's Consumer policy has undergone a comprehensive upgrade and innovation, with recent policies being introduced in various sub-sectors, and the policy system is gradually being improved. Recently, the State Taxation Administration has released the revised details of the outbound tax refund management measures, promoting the "buy and refund immediately" policy in three ways: ① Simplifying the filing process, reducing time, and qualifying loans, expanding tax refund stores to cover a wider range of small and medium-sized businesses; ② Increasing the refund limit and lowering the starting refund point to broaden the price range scenarios, with high-quality domestic products likely to benefit; ③ Further improving the convenience of tax refunds. According to the bank's calculations, under an optimistic assumption, the potential market space for outbound tax refunds is close to one trillion.

Jingwu Financial News20:46 ET

China Travel Group China Express Co., Ltd. Report for the first quarter of 2025

SZSI12:00 ET · Announcements

China Travel Group China Free Insurance Co., Ltd. Report for the first quarter of 2025

SZSI12:00 ET · Announcements

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.

cls.cnApr 29 10:10 ET