中国中免（601888）(01880)涨超4%，截至发稿，涨3.89%，报61.45港元，成交额9335.98万港元。 国泰海通指出，海口海关10月9日公布数据显示，2025年国庆中秋"双节"假期期间，海南省离岛免税销 售金额累计达9.44亿元，比去年同期增长13.6%。其中，购物人数12.29万人次，人均购物金额7685元， 较往年保持稳定增长态势。中金表示，双节假期(10.1-10.7)海口美兰机场日均运送旅客数同比增长7%； 三亚发布数据显示，10月5日，cdf三亚国际免税城单日销售额突破1.2亿元，同比增长60%。建议关注海 南离岛免税销售额后续同比趋势及海南自贸港政策带来的潜在需求增量。 消息面上，10月15日，海南省委深改办(自贸港工委办)副主任王奉利在中外记者见面会上表示，目前， 海南自贸港封关任务整体推进顺利，各项准备工作已基本就绪。今年12月18日，海南自贸港将启动全岛 封关运作。目前，海南自贸港8个对外开放口岸和10个"二线口岸"基础设施及查验设施设备已基本完 备，64个反走私综合执法站进驻运行并配备了专业力量。海南国际贸易"单一窗口"、海关智慧监管平台 等信息系统建设完成，实现与口岸联调 ...

消息面上，10月15日，海南省委深改办(自贸港工委办)副主任王奉利在中外记者见面会上表示，目前， 海南自贸港封关任务整体推进顺利，各项准备工作已基本就绪。今年12月18日，海南自贸港将启动全岛 封关运作。目前，海南自贸港8个对外开放口岸和10个"二线口岸"基础设施及查验设施设备已基本完 备，64个反走私综合执法站进驻运行并配备了专业力量。海南国际贸易"单一窗口"、海关智慧监管平台 等信息系统建设完成，实现与口岸联调联试并始终保持热备状态。 国泰海通指出，海口海关10月9日公布数据显示，2025年国庆中秋"双节"假期期间，海南省离岛免税销 售金额累计达9.44 亿元，比去年同期增长13.6%。其中，购物人数12.29万人次，人均购物金额7685元， 较往年保持稳定增长态势。中金表示，双节假期(10.1-10.7)海口美兰机场日均运送旅客数同比增长7%； 三亚发布数据显示，10月5日，cdf三亚国际免税城单日销售额突破1.2亿元，同比增长60%。建议关注海 南离岛免税销售额后续同比趋势及海南自贸港政策带来的潜在需求增量。 智通财经APP获悉，中国中免(01880)涨超4%，截至发稿，涨3.89%，报61.45港元 ...

Group 1 - The tourism retail sector increased by 1.5% on October 15, with China Duty Free Group leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] - China Duty Free Group's closing price was 69.49, reflecting a 1.50% increase, with a trading volume of 215,100 shares and a transaction value of 1.494 billion yuan [1] Group 2 - The tourism retail sector saw a net inflow of 78.9778 million yuan from institutional investors, while retail investors experienced a net outflow of 61.9171 million yuan [1] - The net inflow from institutional investors for China Duty Free Group was 7.89778 million yuan, accounting for 5.29% of the total [1] - Retail investors had a net outflow of 6.19171 million yuan, representing a -4.14% share [1]

Group 1 - The tourism retail sector increased by 0.57% on October 14, with China Duty Free Group leading the gains [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] - China Duty Free Group's closing price was 68.46, with a trading volume of 205,500 shares and a transaction amount of 1.411 billion yuan [1] Group 2 - The tourism retail sector experienced a net outflow of 8.1886 million yuan from institutional investors, while retail investors saw a net outflow of 4.2486 million yuan [1] - Speculative funds had a net inflow of 12.4372 million yuan, indicating a mixed sentiment among different investor types [1] - The net inflow and outflow percentages for China Duty Free Group were -0.58% for institutional investors and 0.88% for speculative funds [1]

Group 1 - The core point of the article highlights the recent trading activity of southbound funds in China Tourism Group Duty Free Corporation, indicating a net increase of 152,900 shares on October 13, 2025, while experiencing a net reduction of 1,389,100 shares over the past five trading days [1][2] - Over the last 20 trading days, the company has seen a total net reduction of 256,000 shares, with southbound funds reducing their holdings on 11 out of those days [1][2] - As of now, southbound funds hold a total of 45,665,600 shares of China Tourism Group Duty Free Corporation, which represents 39.23% of the company's total issued ordinary shares [1][2] Group 2 - The company primarily engages in the retail of tourism products and related services, operating through two main departments: the sales of taxable and duty-free goods, and the investment and development of commercial complexes [2] - The main business focus is on duty-free tourism retail, including wholesale and retail of products such as tobacco, alcohol, cosmetics, luxury goods, clothing, and electronics [2]

从资金流向上来看，当日旅游零售板块主力资金净流出1.54亿元，游资资金净流入6724.94万元，散户资 金净流入8636.93万元。旅游零售板块个股资金流向见下表： | 代码 名称 主力净流入（元） 主力净占比 游资净流入（元） 游资净占比 散户净占比 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 601888 中国中免 | -1.54亿 | -10.73% | 6724.94万 | 4.70% | 8636.93万 | 6.03% | | 学与与文艺、八丁学历书目中国 门(十分大学 十八次)为7年 | | | | | | | | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | --- | | 601888 | 中国中免 | 68.07 | -0.77% | | 21.18万 | | 14.32亿 | 证券之星消息，10月13日旅游零售板块较上一交易日下跌0.77%，中国中免领跌。当日上证指数报收于 3889. ...

Core Insights - The top three companies with the highest short positions as of October 3 are COSCO Shipping Holdings (01919), Ganfeng Lithium (01772), and ZTE Corporation (00763), with short ratios of 15.66%, 15.25%, and 15.16% respectively [1][2] - Ganfeng Lithium (01772) saw the largest absolute increase in short positions, rising by 1.20%, followed by Minmetals Resources (01208) with an increase of 0.96%, and Yuexiu Transport Infrastructure (01052) with an increase of 0.76% [1][2] - The companies with the largest decreases in short positions include GCL-Poly Energy (03800), which decreased by 3.16%, followed by Dongfang Electric (01072) with a decrease of 2.03%, and Jinxin Fertility (01951) with a decrease of 0.76% [1][3] Summary of Short Positions - **Top 10 Companies by Short Ratio** - COSCO Shipping Holdings (01919): 15.66% (from 437 million shares to 451 million shares) - Ganfeng Lithium (01772): 15.25% (from 62.30 million shares to 67.64 million shares) - ZTE Corporation (00763): 15.16% (from 113 million shares to 115 million shares) - CATL (03750): 13.83% (from 21.12 million shares to 21.57 million shares) - Vanke (02202): 12.63% (from 268 million shares to 279 million shares) - Ping An Insurance (02318): 12.59% (from 959 million shares to 938 million shares) - Zijin Mining (02899): 12.58% (from 750 million shares to 754 million shares) - MicroPort Medical (00853): 11.10% (from 213 million shares to 212 million shares) - Hansoh Pharmaceutical (01276): 11.01% (from 28.01 million shares to 28.43 million shares) - Fuyao Glass (06865): 10.85% (from 49.22 million shares to 47.94 million shares) [2] - **Top 10 Companies with Increased Short Positions** - Ganfeng Lithium (01772): Increased by 1.20% (from 14.05% to 15.25%) - Minmetals Resources (01208): Increased by 0.96% (from 1.96% to 2.93%) - Yuexiu Transport Infrastructure (01052): Increased by 0.76% (from 1.08% to 1.84%) - Jinli Permanent Magnet (06680): Increased by 0.66% (from 7.76% to 8.42%) - China Civil Aviation Information Network (00696): Increased by 0.58% (from 6.63% to 7.21%) [2] - **Top 10 Companies with Decreased Short Positions** - GCL-Poly Energy (03800): Decreased by 3.16% (from 11.76% to 8.59%) - Dongfang Electric (01072): Decreased by 2.03% (from 6.78% to 4.75%) - Jinxin Fertility (01951): Decreased by 0.76% (from 10.61% to 9.85%) - Yangtze Optical Fibre and Cable (06869): Decreased by 0.75% (from 7.03% to 6.28%) - Shanghai Electric (02727): Decreased by 0.72% (from 2.25% to 1.52%) [3][4]

Core Viewpoint - The tourism retail sector experienced a decline of 1.52% on October 10, with China Duty Free Group leading the drop, reflecting broader market trends as the Shanghai Composite Index fell by 0.94% and the Shenzhen Component Index decreased by 2.7% [1] Group 1: Market Performance - On October 10, the Shanghai Composite Index closed at 3897.03, down 0.94% [1] - The Shenzhen Component Index closed at 13355.42, down 2.7% [1] - The tourism retail sector's leading stock, China Duty Free Group, closed at 68.60, down 1.52% [1] Group 2: Capital Flow - The tourism retail sector saw a net outflow of 267 million yuan from main funds, while speculative funds had a net inflow of 75.656 million yuan, and retail investors contributed a net inflow of 192 million yuan [1] - China Duty Free Group specifically experienced a main fund net outflow of 267 million yuan, accounting for a 14.59% net share, while speculative funds had a net inflow of 75.656 million yuan, representing 4.13% [1] - Retail investors accounted for a net inflow of 192 million yuan, which is 10.46% of the total [1]

Group 1 - The stock of China Duty Free Group (01880.HK) fell over 3% at the end of trading on October 10, closing down 3.18% at 59.3 HKD [2] - The trading volume for the stock was 139 million HKD [2]

Core Viewpoint - China Duty Free Group (601888) (01880) experienced a decline of over 3% in stock price, closing at HKD 59.3, with a trading volume of HKD 139 million [1] Group 1: Sales Performance - Haikou Customs reported that during the National Day and Mid-Autumn Festival holiday, the total duty-free sales monitored reached CNY 9.44 billion, representing a year-on-year increase of 13.6% [1] - HSBC's report indicated that the adjusted average daily sales during the Golden Week in October only grew by 5% year-on-year [1] Group 2: Market Challenges - The domestic duty-free market, primarily led by China Duty Free Group, is being negatively impacted by weakened consumer spending and increased outbound tourism [1] - Despite a low base, the sales in the second quarter of this year still saw a year-on-year decline of 8.5%, which was worse than HSBC's earlier prediction of a low single-digit decline [1] Group 3: Future Outlook - HSBC anticipates that China Duty Free Group's revenue for the third quarter will decline in the mid-single digits year-on-year [1] - The revenue decline is expected to narrow to low single digits in the fourth quarter due to a low base, but the growth outlook for the company beyond this year remains uncertain [1]