China Tourism Group Duty Free Corporation (01880) fell more than 3% during intraday trading, hitting a historical low of HKD 53.95. As of press time, it fell 2.51%, reporting HKD 54.45, with a turnover of HKD 148 million.
According to the Zhītōng Finance APP, China Tourism Group Duty Free Corporation(01880) dropped more than 3% during intraday trading, hitting a historical low of HKD 53.95. As of press time, it fell 2.51%, reporting HKD 54.45, with a turnover of HKD 148 million.
According to statistics from Haikou Customs, during this year's Dragon Boat Festival holiday, Haikou Customs regulated off-island tax-free shopping amounted to CNY 205 million, with 219,500 items purchased and 38,600 people shopping. It is reported that during last year's Dragon Boat Festival holiday, Haikou Customs regulated off-island tax-free sales amounted to CNY 260 million, with 437,000 people shopping. In comparison, off-island tax-free sales in Hainan this year during the Dragon Boat Festival holiday decreased by 21.1% YoY, with both the number of buyers and the average customer transaction value falling.
Cinda Securities previously pointed out that with Hainan entering the off-season for tourism, off-island duty-free sales are under pressure; overall passenger traffic in Hainan has decreased MoM due to the impact of the rainy season. The company believes that the recovery of cross-border tourism will release a positive signal, which is expected to drive the acceleration of the duty-free stores at ports' recovery; it also suggests paying attention to the implementation of the in-city duty-free policy.