China Tourism Group Duty Free Corporation (01880) fell by 4%, hitting a new historic low of HKD 51.6. As of the time of publication, it fell by 3.72%, to HKD 51.8, with a trading volume of HKD 83.494 million.
According to Zhixin Investment News App, China Tourism Group Duty Free Corporation (01880) fell by 4%, hitting a new historic low of HKD 51.6. As of the time of publication, it fell by 3.72%, to HKD 51.8, with a trading volume of HKD 83.494 million.
According to a research report by Citic Securities, due to the high inventory accumulation under the low stock price strategy in recent years and the intensified competition of diverse taxed channels, sales of international cosmetic brands through tourism retail channels are generally declining in 2023, coupled with stricter crackdowns on purchasing agents, the conversion rate and per capita consumption of duty-free shopping are weakening. According to the calculation of Haikou Customs, from January to April 2024, the tax-free sales on outlying islands decreased by 28.1% year-on-year, the number of shoppers decreased by 8.6%, and the per capita consumption decreased by 21.4%, the pressure still persists.
According to statistics from Haikou Customs, during the Dragon Boat Festival holiday this year, Haikou Customs supervised a total of RMB 205 million in offshore duty-free shopping, with a purchased quantity of 219,500 items and 38,600 shoppers. It is reported that during the Dragon Boat Festival period last year, Haikou Customs supervised a total of RMB 260 million in offshore duty-free sales, with 43,700 shoppers. Compared with last year, offshore duty-free sales in Hainan during this year's Dragon Boat Festival holiday decreased by 21.1%, and the number of shoppers and the per capita price both declined.