中国旅游集团中免股份有限公司 关于对中旅集团财务有限公司的风险持续评估报告 根据《上海证券交易所上市公司自律监管指引第5号—交易与关联交易》《关于 规范上市公司与企业集团财务公司业务往来的通知》《企业集团财务公司管理办法》 的要求，中国旅游集团中免股份有限公司（以下简称"公司"）通过查验中旅集团财 务有限公司（以下简称"中旅财务"）的《营业执照》与《金融许可证》等资料，并 审阅了包括2025年6月30日资产负债表、2025年上半年度利润表、2025年上半年度现 金流量表等在内的定期财务报告，对其经营资质、业务和风险状况进行了评估，具 体情况报告如下： 一、中旅财务基本情况 中旅财务成立于2012年7月10日，是经中国银行保险监督管理委员会（现"国家 金融监督管理总局"）（银监复[2012]312号文件）批准成立的非银行金融机构。中旅 财务企业信息如下： 注册地址：深圳市福田区深南路4011号香港中旅大厦19楼A-D 法定代表人：金鸿雁 金融许可证机构编码：L0153H244030001 企业法人营业执照注册号：914403000504698000 经营范围：（一）吸收成员单位存款；（二）办理成员单位贷款；（三 ...

Core Viewpoint - The company is actively implementing the "Quality Improvement, Efficiency Enhancement, and Return to Shareholders" action plan to promote high-quality development and enhance investment value, in response to government initiatives and market demands [1][8]. Group 1: Action Plan Implementation - The company has made significant progress in enhancing operational quality, particularly in the Hainan duty-free market, where its market share has increased by nearly 1 percentage point year-on-year [1]. - The company has successfully secured operating rights for several duty-free stores at major airports, strengthening its channel advantages in domestic and international markets [2]. - The company emphasizes shareholder returns, distributing cash dividends of 10.5 yuan per 10 shares for the 2024 fiscal year, with a cash dividend ratio of 50.91%, totaling 2.17 billion yuan [2]. - The company is committed to technological innovation, having filed four patent applications and received 11 authorized patents, while also enhancing its digital procurement and supply chain systems [3][4]. Group 2: Future Development Focus - The company plans to continue focusing on stable operations and high-quality development by enhancing customer experience and optimizing channel layouts [5]. - The company aims to improve investor returns by balancing business growth with cash dividends, while also enhancing market confidence and company value [6]. - The company will leverage big data and AI technologies to improve operational efficiency and support business management [6][7]. - The company is dedicated to high-quality information disclosure and maintaining effective communication with investors, while also focusing on ESG principles [7][8].

8月26日，中国中免发布2025年半年度报告。报告期内，公司实现营业收入 281.51 亿元；实现主营业务 收入275.31亿元，其中线下收入 197.03 亿元，线上收入 78.28 亿元。归属于上市公司股东的净利润26亿 元，同比下降20.81%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 茲載列中國旅遊集團中免股份有限公司在上海證券交易所網站刊登的《中國旅遊 集團中免股份有限公司關於對中旅集團財務有限公司的風險持續評估報告》，僅供 參閱。 特此公告。 承董事會命 中國旅遊集團中免股份有限公司 董事會主席 范雲軍先生 中國•北京 2025年8月26日 China Tourism Group Duty Free Corporation Limited 中國旅遊集團中免股份有限公司 （一家於中華人民共和國註冊成立的股份有限公司） （股份代號：1880） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 注册地址：深圳市福田区深南路4011号香港中旅大厦19楼A-D 法定代表人：金鸿雁 金融许可证机构编码：L0153H244030001 企业法人营业执照注册号：914403000504698000 於本公告日期，董事會成員包括非執行董事范雲軍先生及劉昆女士，執 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 China Tourism Group Duty Free Corporation Limited 中國旅遊集團中免股份有限公司 （一家於中華人民共和國註冊成立的股份有限公司） （股份代號：1880） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中國旅遊集團中免股份有限公司在上海證券交易所網站刊登的《中國旅遊 集團中免股份有限公司關於「提質增效重回報」行動方案落實情況暨持續開展「提 質增效重回報」行動方案的公告》，僅供參閱。 特此公告。 承董事會命 中國旅遊集團中免股份有限公司 董事會主席 范雲軍先生 中國•北京 2025年8月26日 海南离岛免税方面：持续打造形式多样的文娱赛事联动及主题营销 IP 活动， 构建丰富多元的品牌布局与消费场景。不断创新服务与消费体验，推动三亚国际 免税城、海口国际免税城由"购物综合体"向"体验综合体"转型升级，三亚国际免 税 ...

Core Viewpoint - The report highlights a decline in key financial metrics for China Tourism Group Duty Free Corporation Limited in the first half of 2025, alongside a recovery in the tourism sector, indicating both challenges and opportunities in the duty-free retail market [1][2][3]. Financial Performance - The company's operating revenue for the first half of 2025 was approximately RMB 28.15 billion, a decrease of 9.96% compared to the same period in the previous year [2][3]. - Total profit for the period was RMB 3.66 billion, down 19.21% year-on-year [2][3]. - Net profit attributable to shareholders was RMB 2.60 billion, reflecting a 20.81% decline from the previous year [2][3]. - The net cash flow from operating activities decreased by 39.50% to RMB 2.61 billion [2][3]. Industry Overview - Domestic tourism in China saw a significant increase, with 3.285 billion trips taken in the first half of 2025, a year-on-year growth of 20.6% [3][4]. - The total expenditure by domestic travelers reached RMB 3.15 trillion, up 15.2% compared to the previous year [3][4]. - The international tourism sector also showed recovery, with global international tourist arrivals surpassing 300 million in the first quarter of 2025, a 5% increase from the same period in 2024 [3][4]. Business Operations - The company focuses on duty-free retail, with major product categories including tobacco, alcohol, cosmetics, watches, jewelry, clothing, electronics, and food [5][6]. - The operational model includes both offline and online sales, leveraging a comprehensive supply chain and digital marketing strategies [6][7]. - The company has expanded its presence in Hainan, enhancing the integration of duty-free shopping with cultural tourism [7][8]. Market Trends - The duty-free shopping market in Hainan is stabilizing, with sales amounting to RMB 16.76 billion in the first half of 2025, a decrease of 9.2% but showing signs of recovery [3][7]. - The company is actively exploring new retail models and expanding its product offerings to align with consumer trends, including the introduction of over 200 new brands [9][10]. - The company is also focusing on enhancing customer experience through innovative marketing and promotional activities [10][11]. Competitive Advantages - The company holds a strong brand presence in the duty-free sector, with a brand value of RMB 142.68 billion, ranking first in the tourism service industry [11]. - It has established a comprehensive retail channel network across China, including over 200 duty-free stores in more than 100 cities [11][12]. - The company benefits from strong support from its parent group, China Tourism Group, which enhances its operational capabilities and market reach [11][12].

Company Overview - China Tourism Group Duty Free Corporation Limited (stock code: 601888) is listed on the Shanghai Stock Exchange and Hong Kong Stock Exchange [1] - The company reported total assets of approximately CNY 75.01 billion at the end of the reporting period, a decrease of 1.45% compared to the previous year [1] - The net assets attributable to shareholders increased slightly by 0.18% to approximately CNY 55.20 billion [1] Financial Performance - The company's operating revenue for the reporting period was approximately CNY 28.15 billion, representing a decline of 9.96% year-on-year [1] - Total profit decreased by 19.21% to approximately CNY 3.66 billion [1] - The net profit attributable to shareholders was approximately CNY 2.60 billion, down 20.81% compared to the same period last year [1] - The net cash flow from operating activities decreased significantly by 39.50% to approximately CNY 2.61 billion [1] - The weighted average return on net assets decreased by 1.32 percentage points to 4.65% [1] - Basic and diluted earnings per share were both CNY 1.2566, down 20.81% year-on-year [1] Shareholder Information - The largest shareholder is China Tourism Group Co., Ltd., holding 50.30% of the shares [2] - Other significant shareholders include Hong Kong Central Clearing Limited and China Securities Finance Corporation, holding 5.63% and 2.82% respectively [2] - The total number of shareholders at the end of the reporting period was 289,728 [1]

证券代码：601888 证券简称：中国中免 公告编号：临 2025-023 中国旅游集团中免股份有限公司 第五届董事会第二十五次会议（现场结合通讯方式） 决议公告 提交董事会审议前，该议案已经公司审计与风险管理委员会审议通过。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 中国旅游集团中免股份有限公司（以下简称"公司"）第五届董事会第二十五 次会议于 2025 年 8 月 12 日以电子邮件方式发出通知，于 2025 年 8 月 26 日在公司 会议室以现场结合通讯方式召开。本次会议应参加表决董事 8 人，实际参加表决董 事 8 人：范云军、刘昆、常筑军、王月浩、王轩、葛明、王瑛、王强。会议由董事 长范云军主持，公司部分监事和高级管理人员列席了会议。本次会议的召开符合《公 司法》等法律、行政法规、部门规章、规范性文件以及《公司章程》的有关规定。 二、董事会会议审议情况 经与会董事认真讨论，会议审议通过了以下议案： 公司 2025 年半年度报告包括 A 股半年度报告和 H 股中期报告，其中，A 股半 年 ...

证券代码：601888 证券简称：中国中免 公告编号：临2025-024 中国旅游集团中免股份有限公司 第五届监事会第十二次会议（通讯方式） 决议公告 二、监事会会议审议情况 经与会监事认真讨论，会议审议通过了以下议案： 监事会认为，公司2025年半年度报告的董事会编制和审议程序符合法律、 行政法规和中国证监会的规定；报告内容和格式符合中国证监会和证券交易 所的各项规定，能够真实、准确、完整地反映公司的实际情况。 表决结果：同意3票，反对0票，弃权0票，该议案获得通过。 表决结果：同意3票，反对0票，弃权0票，该议案获得通过。 特此公告。 中国旅游集团中免股份有限公司 监 事 会 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 中国旅游集团中免股份有限公司（以下简称"公司"）第五届监事会第十二次会 议于2025年8月12日以电子邮件方式发出通知，于2025年8月26日以通讯方式召开。 本次会议应参加表决监事3人，实际参加表决监事3人：刘德福、李辉、钭晓琼。会 议由监事会主席刘德福主持。本次会议的召开符合 ...

Core Viewpoint - China Duty Free Group (01880.HK) reported a revenue decline of 9.96% year-on-year for the six months ending June 30, 2025, primarily due to a slowdown in consumer demand and industry cycles [1] - The group's profit decreased by 20.10% year-on-year for the same period, attributed to the reduction in sales revenue [1] Financial Performance - Revenue for the six months ending June 30, 2025, was RMB 281.51 billion, down from RMB 312.65 billion for the same period in 2024 [1] - Profit for the same period was RMB 29.30 billion, down from RMB 36.67 billion in the previous year [1] Future Outlook - The company plans to align with new industry trends and integrate national strategies with its operations, focusing on strategic transformation [1] - In the second half of 2025, the company aims to enhance its duty-free sales in Hainan, capitalize on opportunities in city and port stores, and expand overseas operations [1] - The company is committed to strengthening its core capabilities and achieving its annual operational goals through continuous development in tourism retail and quality retail [1]