Core Viewpoint - The audit department of China Duty Free Group emphasizes that auditing is not just about identifying errors but also serves as a governance radar and value protector, aiming to enhance governance, management, and risk mitigation [1][2]. Governance Foundation - Company governance is a tangible concept reflected in every decision-making rule, authorization execution, and business flow [1]. - The audit department operates independently and objectively, reporting directly to the board and party committee, which helps to optimize governance structures [1]. Risk Control - The company is implementing a dual mechanism of "mandatory audits" and "in-process audits" to ensure that power is confined within institutional frameworks [2]. - Risk control is proactive, focusing on early warning systems rather than reactive measures [3]. Management Empowerment - Auditing is viewed as a "management doctor," diagnosing issues and providing solutions to enhance management processes and cost savings [7]. - The audit department is shifting from a purely supervisory role to a service-oriented approach, becoming a key driver for management upgrades [9]. Public Trust - The audit department plays a crucial role in ensuring the authenticity and compliance of information disclosure, which is vital for investor confidence [10]. - The company is building a comprehensive supervision framework that integrates various functions to enhance compliance and market trust [10]. Future Direction - The audit department aims to transition from "partial audits" to "holistic audits" and from a "supervisory" to a "strategic collaborative" model, aligning closely with the company's development trajectory [10].

Group 1 - The tourism retail sector experienced a decline of 0.48% on September 10, with China Duty Free Group leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] - China Duty Free Group's closing price was 70.68, reflecting a decrease of 0.48%, with a trading volume of 224,500 shares and a transaction value of 1.591 billion yuan [1] Group 2 - The tourism retail sector saw a net outflow of 36.9608 million yuan from institutional investors, while retail investors contributed a net inflow of 4.7039 million yuan [1] - The breakdown of fund flows indicates that institutional investors had a net outflow of 2.32%, while speculative funds had a net inflow of 2.03% [1]

证券之星消息，9月9日旅游零售板块较上一交易日下跌0.67%，中国中免领跌。当日上证指数报收于 3807.29，下跌0.51%。深证成指报收于12510.6，下跌1.23%。旅游零售板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | | 涨跌幅 | 成交量(手) | | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 601888 | 中国中免 | | 71.02 | -0.67% | | 26.88万 | | 19.06 7 | 从资金流向上来看，当日旅游零售板块主力资金净流出1.21亿元，游资资金净流入1541.79万元，散户资 金净流入1.06亿元。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 散户净流入（元） 散户净占比 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 601888 中国中免 | -1.21亿 | -6.36% | 1541.79万 | 0.81% | 1. ...

Group 1 - The tourism retail sector increased by 1.43% on September 8, with China Duty Free Group leading the gains [1] - The Shanghai Composite Index closed at 3826.84, up 0.38%, while the Shenzhen Component Index closed at 12666.84, up 0.61% [1] - China Duty Free Group's closing price was 71.50, reflecting a 1.43% increase, with a trading volume of 430,300 shares and a transaction value of 3.073 billion yuan [1] Group 2 - The tourism retail sector saw a net inflow of 12.7066 million yuan from institutional investors, while retail investors experienced a net outflow of 8.8773 million yuan [1] - The net inflow from institutional investors represented 0.41% of the total, while the net outflow from retail investors accounted for -0.29% [1] - The overall capital flow in the tourism retail sector indicates a mixed sentiment among different types of investors [1]

中國旅遊集團中免股份有限公司 China Tourism Group Duty Free Corporation Limited 股份代號 STOCK CODE : 601888.SH 1880.HK INTERIM REPORT 中期報告 2025 2025 INTERIM REPORT 中期報告 China Tourism Group Duty Free Corporation Limited 中國旅遊集團中免股份有限公司 目 錄 | 02 | 公司資料 | | --- | --- | | 05 | 管理層討論與分析 | | 16 | 其他資料 | | 22 | 獨立審閱報告 | | 23 | 中期簡明綜合損益及其他綜合收益表 | | 24 | 中期簡明綜合財務狀況表 | | 26 | 中期簡明綜合權益變動表 | | 27 | 中期簡明綜合現金流量表 | | 29 | 中期簡明綜合財務資料附註 | | 58 | 釋義 | 02 中國旅遊集團中免股份有限公司 • 2025 中期報告 公司資料 董事會 非執行董事 范雲軍先生 （主席） 劉昆女士 （副主席） 執行董事 常築軍先生 王月浩先生 王軒先生 獨立非執 ...

Core Viewpoint - China Gold Group Jewelry Co., Ltd. (referred to as "China Gold Jewelry") and China Tourism Group Duty Free Co., Ltd. (referred to as "China Duty Free") signed a strategic cooperation agreement, marking a significant step towards internationalizing national brands and enhancing collaboration between state-owned enterprises [1][5][11]. Group 1: Strategic Cooperation - The cooperation is seen as an important strategic deployment for China Gold Group to promote the internationalization of its brand, with China Gold Jewelry focusing on cultural empowerment, green development, digital operation, and international layout [5][7]. - Both companies aim to leverage their respective strengths to create a new growth curve, enhancing the cultural weight of "China Gold" in the retail ecosystem of China Duty Free [7][11]. Group 2: Operational Synergy - China Gold Jewelry will establish a regular communication mechanism with China Duty Free to facilitate the global distribution of gold products through duty-free channels, aiming for a synergistic effect that exceeds the sum of their parts [7][11]. - The partnership will focus on dual-driven cooperation, integrating consumer insights with product strength and retail capabilities to better meet consumer demands for gold jewelry [7][11]. Group 3: Future Goals - The collaboration is expected to serve as a model for state-owned enterprise cooperation and to illuminate the global market with the brand's presence [7][11]. - Both parties are committed to expanding global development paths and achieving breakthroughs for Chinese brands in international markets, aiming to establish a "golden paradigm" for Chinese brands in the global consumer market [11].

Group 1 - The tourism retail sector increased by 4.04% on September 5, with China Duty Free Group leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] - China Duty Free Group's stock closed at 70.49, reflecting a 4.04% increase, with a trading volume of 486,500 shares and a transaction value of 3.378 billion yuan [1] Group 2 - The tourism retail sector saw a net inflow of 295 million yuan from institutional investors, while retail investors experienced a net outflow of 215 million yuan [1] - The breakdown of fund flows indicates that institutional investors accounted for 8.72% of the net inflow, while retail investors had a net outflow of 6.36% [1]

Core Viewpoint - China Duty Free Group (601888)(01880) saw a rise of over 3%, currently up 3.3% at HKD 61.05, with a trading volume of HKD 149 million [1] Group 1: Policy Developments - On September 5, the draft of the "Hainan Free Trade Port Tourism Regulations" was publicly solicited for opinions, proposing a broader visa-free entry policy for tourists [1] - Citizens from countries approved by the State Council can enter Hainan Free Trade Port without a visa and travel within a specified period [1] Group 2: Market Implications - In July, a press conference by the State Council Information Office clarified the timeline for the closure and operation of the Hainan Free Trade Port, along with optimized tax and travel policies [1] - According to Founder Securities, ongoing developments related to the closure of Hainan could serve as a catalyst for valuation, with a focus on the company's performance at domestic ports and city duty-free sales [1]

Core Viewpoint - China Duty Free Group (01880) saw a rise of over 3%, currently up 3.3% at HKD 61.05, with a trading volume of HKD 149 million [1] Group 1: Policy Developments - On September 5, the draft of the Hainan Free Trade Port Tourism Regulations was publicly solicited for opinions, proposing a broader visa-free entry policy for tourists [1] - Citizens from countries approved by the State Council can enter Hainan Free Trade Port without a visa and travel within a specified period [1] Group 2: Market Context - In July, a press conference by the State Council Information Office clarified the timeline for the closure operation of Hainan Free Trade Port and optimized tax and travel policies [1] - According to Founder Securities, ongoing developments related to Hainan's closure operations could serve as a catalyst for valuation, with a focus on the company's performance at domestic ports and city duty-free shops [1]

Group 1 - The tourism retail sector increased by 0.44% compared to the previous trading day, with China Duty Free Group leading the gains [1] - On the same day, the Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] - The main capital flow into the tourism retail sector was a net inflow of 57.43 million yuan, while retail investors experienced a net outflow of 31.41 million yuan [1] Group 2 - China Duty Free Group's closing price was 67.75 yuan, reflecting a gain of 0.44% [1] - The trading volume for China Duty Free Group was 299,500 hands, with a transaction amount of 203 million yuan [1] - The overall capital flow in the tourism retail sector showed a mixed trend, with institutional funds flowing in while retail and speculative funds flowed out [1]