The Zhitong Finance App learned that China Free (01880) fell by more than 4% in the intraday period. As of press release, it was down 3.63% to HK$69.1, with a turnover of HK$793.34 million.

According to the news, according to statistics from Haikou Customs, on May 1, Haikou Customs supervised a total amount of 115 million yuan in duty-free sales on the outlying islands. The number of duty-free shoppers was 21,300, and the per capita consumption was 5,384 yuan. It is worth noting that in 2023, on the first two days of the “May 1st” holiday (that is, April 29-30), Haikou Customs supervised duty-free sales of outlying islands amounting to 349 million yuan. In contrast, the duty-free sales performance on the outlying islands of Hainan on the first day of this year's holiday was quite lackluster.

Dongxing Securities previously pointed out that weak duty-free sales on the outlying islands in Q1 in 2024 led to weak revenue performance, but the profit side was relatively strong. The bank is optimistic about the company's long-term development as a duty-free leader, but considering the weak overall recovery in consumption and the blocking of duty-free sales on the outlying islands affected the company's short-term performance, it lowered the company's A-share rating.