Core Viewpoint - China Duty Free Group (01880) reported a decline in revenue and net profit for the first three quarters of 2025, indicating challenges in the duty-free market despite ongoing strategic innovations and consumer engagement efforts [1] Financial Performance - The company achieved operating revenue of 39.862 billion yuan, a year-on-year decrease of 7.34% [1] - The net profit attributable to shareholders was 3.052 billion yuan, down 22.13% year-on-year [1] - Basic earnings per share stood at 1.4752 yuan [1] Strategic Initiatives - The company continues to focus on its duty-free business while deepening the "product + scene + service" innovation model to adapt to changing consumer demands [1] - In the Hainan region, stores are enhancing the integration of "duty-free + cultural tourism" to create a robust first-store matrix [1] - Notable initiatives include the introduction of the first national exhibition of Pop Mart's DIMOO "Natural Shapes" theme and the first Disney pop-up store in Sanya [1] Market Trends - Hainan's monthly sales for offshore duty-free shopping saw a year-on-year increase of 3.4% as of September 2025, marking a return to positive growth for the first time in nearly 18 months [1]

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2025年前三季度利潤分配方案公告》，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 中国旅游集团中免股份有限公司 2025年前三季度利润分配方案公告 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。 重要内容提示： 范雲軍先生 中國•北京 2025年10月30日 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 ...

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） 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第五屆監事會第十三次會議（現場結合通訊方式）決議公 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10月30日 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，執行董事常 築軍先生、王月浩先生及王軒先生及獨立非執行董事葛明先生、王瑛女士及王強 先生。 证券代码：601888 证券简称：中国中免 公告编号：临2025-029 中国旅游集团中免股份有限公司 第五届监事会第十三 ...

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第五屆董事會第二十六次會議（現場結合通訊方式）決議公 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10月30日 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，執行董事常 築軍先生、王月浩先生及王軒先生及獨立非執行董事葛明先生、王瑛女士及王強 先生。 证券代码：601888 证券简称：中国中免 公告编号：临 2025-028 中国旅游集团中免股份 ...

格隆汇10月30日丨中国中免(01880.HK)发布2025年第三季度报告，第三季度营业收入117.11亿元，同比 下降0.38%；净利润4.52亿元，同比下降28.94%。 前三季度营业收入398.62亿元，同比下降7.34%；净利润30.52亿元，同比下降22.13%。 ...

| 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 有待公佈 | | | 發行人董事 | | | | 於本公告日期，中國旅遊集團中免股份有限公司董事會成員包括下列8名董事： | | 非執行董事： | | | 范雲軍先生 | | | 劉昆女士 | | | 執行董事： | | | 常築軍先生 | | | 王月浩先生 | | | 王軒先生 | | | 獨立非執行董事： | | | 葛明先生 | | | 王瑛女士 | | | 王強先生 | | 第 2 頁 共 2 頁 v 1.1.1 | 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的內容概不負責，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 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 中國旅遊集團中免股份有限公司 | | 股份代號 | 01880 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名 ...

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，概不就因本公告全部或任何部分內容而產生或倚賴 該等內容而引致之任何損失承擔任何責任。 China Tourism Group Duty Free Corporation Limited 本公司負責人、主管會計工作負責人及會計機構負責人（會計主管人員）保證季度 報告中財務信息的真實、準確、完整。 1 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） 2025年第三季度報告 本公告乃根據香港法例第571章證券及期貨條例第XIVA部項下內幕消息條文及香 港聯合交易所有限公司證券上市規則第13.09(2)和第13.10B條的要求作出。 中國旅遊集團中免股份有限公司（「本公司」）董事會（「董事會」）公佈本公司連同 其附屬公司（「本集團」）2025年第三季度報告（「季度報告」）。其所載財務資料是按 照中國企業會計準則編製，並且未經審核。 本公告分別以中、英文兩種語言編訂，如中英文版本有任何歧義或衝突，概以中 文版本為準。 重要內容提示 本公司董事會、 ...

Core Viewpoint - China Duty Free Group (601888.SH) reported a decline in revenue and net profit for the first three quarters of 2025, indicating challenges in the market [1] Financial Performance - The company's operating revenue for the first three quarters was 39.86 billion yuan, a year-on-year decrease of 7.3% [1] - The net profit attributable to shareholders was 3.05 billion yuan, down 22.1% year-on-year [1] - The net profit excluding non-recurring items was 3.04 billion yuan, reflecting a decline of 21.6% compared to the previous year [1]

Core Viewpoint - In the context of a generally weak global consumption environment, China Duty Free's third-quarter revenue stagnated, and net profit saw a significant year-on-year decline. Despite the pressure on performance, the company plans to implement its first interim dividend, distributing over 500 million yuan in cash dividends for the first three quarters [1][2]. Group 1: Financial Performance - In Q3, China Duty Free's revenue was 11.71 billion yuan, a year-on-year decrease of 0.38%. For the first three quarters, revenue totaled 39.86 billion yuan, down 7.34% year-on-year [6]. - The net profit attributable to shareholders in Q3 was 452 million yuan, a substantial year-on-year drop of 28.94%. For the first three quarters, net profit was 3.05 billion yuan, down 22.13% year-on-year [6]. - The weighted average ROE for Q3 was only 0.82%, a decrease of 0.36 percentage points compared to the same period last year, indicating a very low shareholder return rate [3]. Group 2: Cash Flow and Costs - The operating cash flow net amount for the first three quarters was 3.39 billion yuan, a significant year-on-year decline of 33.62%, primarily due to reduced sales collections [3]. - Cash and cash equivalents decreased from 34.82 billion yuan at the beginning of the year to 31.97 billion yuan, a reduction of 2.85 billion yuan, although the absolute scale remains relatively ample [3]. - Operating costs for the first three quarters were 26.89 billion yuan, down 6.54% year-on-year. Sales expenses were 6.46 billion yuan, a decrease of 4.98% year-on-year, but the sales expense ratio increased from 15.80% to 16.20% [3]. Group 3: Strategic Developments - Despite the overall performance pressure, the Hainan duty-free business showed positive signals, with sales in September 2025 increasing by 3.4% year-on-year, marking the first positive growth in 18 months [4]. - The company is accelerating its diversification strategy by opening new city duty-free stores in Shenzhen, Guangzhou, and Chengdu, adopting a dual-track operation model of "duty-free + taxable" [4]. - Capital expenditure is increasing, with construction in progress rising from 972 million yuan at the beginning of the year to 1.49 billion yuan, an increase of 53% [4]. Group 4: Inventory and Investment Concerns - The inventory level was high at 17.22 billion yuan, slightly down by 129 million yuan from the beginning of the year, but still accounting for 22.81% of total assets [5]. - Investment income turned to a loss of 53.63 million yuan, compared to a profit of 21.92 million yuan in the same period last year, primarily due to losses from investments in joint ventures [5]. - Other current assets surged from 1.976 billion yuan at the beginning of the year to 4.447 billion yuan, an increase of 125% [5]. Group 5: Dividend Announcement - The company plans to distribute an interim cash dividend of 2.50 yuan per 10 shares (before tax), totaling 517 million yuan, which accounts for 16.95% of the net profit attributable to shareholders for the first three quarters [7]. - This marks the company's first implementation of an interim dividend, aimed at enhancing investor returns [7]. - As of the end of the reporting period, the equity attributable to shareholders was 55.67 billion yuan, an increase of 577 million yuan from the beginning of the year, indicating sufficient cash reserves to support the dividend [7].

Financial Performance - In Q3 2025, China Duty Free Group Co., Ltd. (China Duty Free, 601888.SH) reported operating revenue of approximately 11.711 billion RMB, a year-on-year decrease of 0.38% [1] - The net profit attributable to shareholders was approximately 452 million RMB, reflecting a year-on-year decline of 28.94% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was about 441 million RMB, down 30.56% year-on-year [1] Dividend Announcement - To enhance investor returns, the company plans to initiate a mid-term dividend for the first time, considering its operational development, financial status, cash flow, and sustainability [1] - The board approved a profit distribution plan for the first three quarters of 2025, proposing a cash dividend of 2.50 RMB per 10 shares (tax included), totaling approximately 517.21 million RMB (tax included) [1] - This dividend distribution represents 16.95% of the net profit attributable to shareholders for the first three quarters of 2025 and will be submitted for approval at the shareholders' meeting [1]