中国旅游集团中免股份有限公司 2025 年度独立董事述职报告 （王 瑛） 作为中国旅游集团中免股份有限公司（以下简称"公司"）独立董事，2025 年，本人严格遵守《公司法》《证券法》《上市公司治理准则》《上市公司独立董事 管理办法》（以下简称"《管理办法》"）等有关法律法规及《公司章程》等相关规 定，秉持独立、客观、公正原则，忠实、勤勉履行职责。现将本人年度履职情况 报告如下： 一、独立董事基本情况 本人自 2023 年 6 月起担任公司独立董事，目前还担任董事会薪酬与考核委员 会主席、提名委员会委员、审计与风险管理委员会委员。本人简历情况详见《公 司 2025 年年度报告》"三、董事和高级管理人员的情况"。 本人已按照《管理办法》规定对自身独立性情况进行了自查，确认符合独立 性要求，并已按程序向董事会提交了独立性自查报告，确认本人不存在可能影响 独立性的情况。 二、独立董事年度履职概况 （一）参加董事会、股东会情况 2025 年，本人通过现场或者通讯方式参加公司董事会会议 7 次、股东会 1 次， 本人出席情况如下： | 姓名 | 本年应参加 | 亲自出席 | 以通讯方式 | 委托出席 | 缺席 | 出席股 ...

二、独立董事年度履职概况 中国旅游集团中免股份有限公司 2025 年度独立董事述职报告 （葛 明） 作为中国旅游集团中免股份有限公司（以下简称"公司"）独立董事，2025 年，本人严格遵守《公司法》《证券法》《上市公司治理准则》《上市公司独立董事 管理办法》（以下简称"《管理办法》"）等有关法律法规及《公司章程》等相关规 定，秉持独立、客观、公正原则，忠实、勤勉履行职责。现将本人年度履职情况 报告如下： 一、独立董事基本情况 本人自 2022 年 8 月起担任公司独立董事，目前还担任董事会审计与风险管理 委员会主席、提名委员会委员、薪酬与考核委员会委员。本人简历情况详见《公 司 2025 年年度报告》"三、董事和高级管理人员的情况"。 本人已按照《管理办法》规定对自身独立性情况进行了自查，确认符合独立 性要求，并已按程序向董事会提交了独立性自查报告，确认本人不存在可能影响 独立性的情况。 （一）参加董事会、股东会情况 2025 年，本人通过现场或者通讯方式参加公司董事会会议 7 次、股东会 2 次， 本人均亲自出席，无缺席或委托他人出席的情况。具体出席情况如下： | 姓名 | 本年应参加 | 亲自出席 | 以 ...

格隆汇3月30日丨中国中免(601888.SH)发布2025年年报显示，公司全年实现营业收入536.94亿元，同比 下滑4.92%；归母净利润35.86亿元，同比下滑15.96%；扣非归母净利润35.44亿元，同比下滑14.47%。 对全体股东10派4.5元。 ...

Core Viewpoint - China National Pharmaceutical Group (China National Immunization) reported a decline in both revenue and net profit for the year 2025, indicating potential challenges in the company's financial performance [1] Financial Performance - The company achieved an operating income of 53.694 billion yuan, representing a year-on-year decrease of 4.92% [1] - The net profit attributable to shareholders of the listed company was 3.586 billion yuan, reflecting a year-on-year decline of 15.96% [1]

Financial Performance - The company's operating revenue for 2025 was approximately ¥53.69 billion, a decrease of 4.92% compared to ¥56.47 billion in 2024 [30]. - The total profit for 2025 was approximately ¥5.31 billion, down 13.67% from ¥6.15 billion in 2024 [30]. - The net profit attributable to shareholders for 2025 was approximately ¥3.59 billion, reflecting a 15.96% decline from ¥4.27 billion in 2024 [30]. - The net cash flow from operating activities for 2025 was approximately ¥6.06 billion, a decrease of 23.69% compared to ¥7.94 billion in 2024 [30]. - The company's total assets at the end of 2025 were approximately ¥74.98 billion, down 1.68% from ¥76.26 billion at the end of 2024 [30]. - The weighted average return on equity for 2025 was 6.48%, a decrease of 1.40 percentage points from 7.88% in 2024 [31]. - The company achieved operating revenue of 53.69 billion RMB, a year-on-year decrease of 4.92% [61]. - The net profit attributable to shareholders was 3.59 billion RMB, down 15.96% year-on-year [61]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 4.50 per 10 shares for the 2025 fiscal year, totaling approximately RMB 935 million, which represents 40.50% of the net profit attributable to shareholders [8]. - The company has implemented a profit distribution plan for the first three quarters of 2025, distributing a total of RMB 517 million in cash dividends [8]. - The cumulative cash dividend over the last three accounting years is RMB 7,038.14 million, with a cash dividend ratio of 144.95% of the average annual net profit [144]. Strategic Acquisitions and Market Expansion - The company successfully acquired operating rights for 16 duty-free stores at major airports, including Shanghai Pudong and Beijing Capital, enhancing its market position [20]. - The company is set to complete a strategic acquisition of DFS's retail business in Greater China by early 2026, which will enhance its tourism retail network [20]. - The company announced a historic overseas acquisition of DFS's retail business in Greater China, which is expected to enhance its competitive edge and international capabilities, alongside the opening of 3 new stores in Hong Kong and the first entry into Vietnam [49]. - The company is actively pursuing overseas business expansion and acquisition opportunities, particularly in Hong Kong, Macau, and Southeast Asia [101]. Operational Improvements and Innovations - The company has opened or is operating 13 city duty-free stores in Shenzhen and Guangzhou, focusing on service quality and operational improvements [19]. - The company is focused on launching new products and enhancing consumer experiences through collaborations with global brands [19]. - The company is enhancing its online operations, integrating platforms to improve user engagement and sales conversion, and has launched a whiskey museum IP to drive sales growth through online and offline synergy [50]. - The company is exploring new airport commercial models, achieving top sales in tax-inclusive business at Lanzhou Airport, and has introduced nearly 100 new products under its own brand, including collaborations with major brands [51]. - The company introduced over 140 new products and opened 27 flagship stores, including the world's largest Dior fragrance store, to cater to diverse consumer needs and trends [52]. Market Trends and Projections - The global international tourism industry is expected to see 1.52 billion international travelers in 2025, a 4% increase from 2024 [41]. - Domestic tourism in China is projected to reach 6.522 billion trips in 2025, reflecting a 16.2% year-on-year growth [42]. - The global duty-free and travel retail market is anticipated to grow to $76.8 billion in 2025, a 4% increase compared to 2024 [43]. - Hainan's duty-free shopping revenue is expected to reach ¥30.4 billion in 2025, despite a 1.8% decline year-on-year [43]. - The new duty-free policy in Hainan, effective from November 1, 2025, expands the number of duty-free product categories from 45 to 47 [43]. Risk Management and Governance - The company is focused on managing investment risks by controlling investment scale and pace, ensuring project feasibility studies, and maintaining good communication with government and partners [105]. - The company is addressing financial risks related to foreign currency fluctuations, aiming to improve asset and liability currency matching to mitigate exchange rate losses [105]. - The company has established a governance structure that includes a party committee, shareholders' meeting, board of directors, and management team to ensure effective decision-making and risk management [110]. - The company has revised nearly 20 governance documents to align with regulatory requirements and enhance operational efficiency [111]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring compliance with relevant regulations [113]. Employee Development and Social Responsibility - The company has conducted over 1,000 key training projects in 2025, with a total of 160,000 participants and 790,000 training hours completed [135]. - The average training hours per employee is 55 hours, with an online training platform achieving a login rate of 90% [136]. - The company invested a total of 17.48 million yuan in poverty alleviation and rural revitalization projects, including 16 projects focused on various forms of assistance [153]. - A total of 5,220 people benefited from the company's poverty alleviation efforts, which included industrial, employment, education, and consumption assistance [153]. Financial Transactions and Related Party Transactions - The company engaged in daily related transactions with China Travel Group, with a total procurement amount of RMB 133.54 million during the reporting period [167]. - The company provided a loan of RMB 200 million to China Travel Finance, with a 3-year extension at an interest rate of 2.80% [171]. - The company’s total related party transactions with China Travel Group amounted to RMB 13.354 million for procurement and RMB 1.079 million for leasing [167]. Audit and Compliance - The external audit firm provided a standard unqualified opinion on the 2024 financial report, confirming the effective completion of the annual settlement and audit work [127]. - The company’s internal control and risk management systems were found to be effective, with no significant deficiencies identified during the internal control evaluation [127]. - The financial statements for the year ending December 31, 2025, have been audited and reflect the company's financial position accurately [195].

中国旅游集团中免股份有限公司 2025 年度环境、社会及管治报告 中国北京市东城区东直门外小街甲2号 -1 100027 地址 环境、社会及管治报告 2025年 86-10-84478888 总机 86-10-84478896 传真 www.cdfg.com.cn 网址 除非特别说明，本报告所披露文字内容及数据的涵盖范围与公 司合并财务报告范围一致。 报告期间 本报告期间为 2025年 1月 1日起至 2025年 12月 31日止（"本 年度"）。如无特别说明，本报告中的数据均为此期间数据。 编制依据 本报告根据国务院国资委《央企控股上市公司 ESG专项报告参 考指标体系》、《上海证券交易所上市公司自律监管指引第 14 号——可持续发展报告（试行）》和《香港联和交易所有限公司 （"香港联交所"）主板证券上市规则》附录C2《环境、社会及管 治报告守则》（"ESG报告守则"），并参考以下规则编制 ： 环境、社会及 管治报告 证券简称： 中国中免 证券代码： 601888.SH 01880.HK 2025 中国旅游集团中免股份有限公司 报告编制说明 本报告为中国旅游集团中免股份有限公司（以下简称"中国中 免""本公 ...

证券代码：601888 证券简称：中国中免 公告编号：临 2026-006 中国旅游集团中免股份有限公司 关于计提 2025 年度资产减值准备的公告 2026年3月30日，中国旅游集团中免股份有限公司（以下简称"公司"）召开 第五届董事会第二十九次会议，审议通过了《关于计提2025年度资产减值准备的 议案》。现将具体情况公告如下： 一、本次计提资产减值准备概述 为真实、准确和公允地反映公司截至2025年12月31日的财务状况和2025年度 的经营成果，根据《企业会计准则》和相关会计政策的规定，公司及下属子公司 对应收款项和出现减值迹象的存货、商誉等资产进行了减值测试。经测试，2025 年度共计提资产减值准备人民币88,220.58万元。具体情况如下： 单位：人民币万元 | 类别 | 计提项目 | 计提金额 | | --- | --- | --- | | 资产减值损失 | 存货跌价损失 | 53,311.34 | | | 商誉减值损失 | 33,785.87 | | | 其他 | 773.15 | | 信用减值损失 | 应收账款/其他应收款坏账准备 | 350.22 | | | 合计 | 88,220.58 | ...

China Tourism Group Duty Free Corporation Limited China Tourism Group Duty Free Corporation Limited Stock Abbreviation：CTG DUTY-FREE A Share Stock Code：601888.SH H Share Stock Code：01880.HK Environmental, Social and Governance Report 2025 2025 2025 Environmental, Social and Governance Report Stock Abbreviation: CTG DUTY-FREE Stock Code: 601888.SH 01880.HK China Tourism Group Duty Free Corporation Limited Report Preparation Notes This report is the fifth Environmental, Social and Governance Report (hereinaft ...

关于中国旅游集团中免股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 目 录 1、 专项审计报告 2、 附表 非经营性资金占用及其他关联资金往来情况的专项审计报告 安永华明（2026）专字第70067812_A08号 中国旅游集团中免股份有限公司 A member firm of Ernst & Young Global Limited 1 非经营性资金占用及其他关联资金往来情况的专项审计报告（续） 中国旅游集团中免股份有限公司董事会： 我们审计了中国旅游集团中免股份有限公司的2025年度财务报表，包括2025年12 月31日的合并及公司资产负债表，2025年度的合并及公司利润表、股东权益变动表和 现金流量表以及相关财务报表附注，并于2026年3月30日出具了编号为安永华明 （2026）审字第70067812_A01号的标准无保留意见审计报告。 按照《上市公司监管指引第8号——上市公司资金往来、对外担保的监管要求》的 要求，中国旅游集团中免股份有限公司编制了后附的2025年度非经营性资金占用及其 他关联资金往来情况汇总表（以下简称"汇总表"）。 如实编制和对外披露汇总表，并确保其真实 ...

中国旅游集团中免股份有限公司 2025 年度董事会审计与风险管理委员会 履职情况报告 根据中国证券监督管理委员会《上市公司治理准则》《上市公司独立董事管 理办法》、公司证券上市地证券监管规则及《公司章程》等相关规定，中国旅游 集团中免股份有限公司（以下简称"公司"）董事会审计与风险管理委员会（以下 简称"审计与风险管理委员会"、"委员会"）本着勤勉尽责、客观独立的原则，充 分发挥专业优势，切实履行了相关工作职责。现将 2025 年度履职情况报告如下： 一、委员会基本情况 公司第五届董事会审计与风险管理委员会由葛明先生（主席）、王瑛女士、 王强先生 3 名独立董事构成，召集人为葛明先生。葛明先生为会计专业人士。 二、委员会会议召开情况 2025 年度，审计与风险管理委员会共召开 6 次会议，全体委员均亲自出席 并对相关议题发表了专业意见。会议审议通过了聘任公司总会计师、确定公司 2024 年度财务报告审计费用、续聘 2025 年度审计机构、2024 年年度报告、2024 年度内部控制评价报告、2025 年季度报告及半年度报告、对中旅集团财务有限 公司出具的风险持续评估报告、修订审计与风险管理委员会议事规则等 1 ...