2025-10-30 09:15Financial Performance - The company's operating revenue for the third quarter was CNY 11,711,368,978.02, a decrease of 0.38% compared to the same period last year[4] - The total profit for the quarter was CNY 754,515,472.40, down 17.28% year-on-year[4] - The net profit attributable to shareholders was CNY 452,206,584.28, reflecting a decline of 28.94% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was CNY 440,971,561.34, a decrease of 30.56% year-on-year, primarily due to weakened consumer demand[8] - The basic earnings per share for the quarter was CNY 0.2186, down 28.93% year-on-year[4] - The weighted average return on equity was 0.82%, a decrease of 4.68 percentage points compared to the previous year[4] - The company's total operating revenue for the first three quarters of 2025 was CNY 39.86 billion, a decrease of 7.4% compared to CNY 43.02 billion in the same period of 2024[18] - Net profit for the first three quarters of 2025 was CNY 3.46 billion, down 19.7% from CNY 4.31 billion in the first three quarters of 2024[20] - Operating profit for the first three quarters of 2025 was CNY 4.48 billion, a decrease of 17.7% compared to CNY 5.46 billion in the same period of 2024[20] - Total comprehensive income for the first three quarters of 2025 was CNY 3.18 billion, a decrease of 24.5% from CNY 4.21 billion in 2024[20] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was CNY 3,387,993,629.01, down 33.62% compared to the previous year[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 3.39 billion, down 33.6% from CNY 5.10 billion in 2024[22] - Cash flow from investing activities showed a net outflow of CNY 3.31 billion in 2025, compared to a net outflow of CNY 408.93 million in 2024[23] - Cash and cash equivalents as of September 30, 2025, were CNY 31.97 billion, down from CNY 34.82 billion at the end of 2024[15] - Cash and cash equivalents at the end of the third quarter of 2025 were CNY 31.96 billion, slightly down from CNY 31.99 billion at the end of the third quarter of 2024[23] - Total assets at the end of the reporting period were CNY 75,496,310,802.94, a decrease of 1.00% from the end of the previous year[5] - The company's total assets as of September 30, 2025, were CNY 75.50 billion, a slight decrease from CNY 76.26 billion at the end of 2024[17] Shareholder Returns and Dividends - The company plans to distribute a cash dividend of CNY 2.50 per 10 shares, totaling CNY 517.21 million, which represents 16.95% of the net profit attributable to shareholders for the first three quarters of 2025[14] - The equity attributable to shareholders increased by 1.05% to CNY 55,673,889,506.75 compared to the end of the previous year[5] Non-Recurring Gains and Expenses - The company reported non-recurring gains of CNY 11,235,022.94 for the quarter, with significant contributions from asset disposal and government subsidies[7] - The company reported a tax expense of CNY 954.28 million for the first three quarters of 2025, down from CNY 1.14 billion in 2024[20] Market and Operational Developments - In Hainan, the monthly sales of offshore duty-free shopping increased by 3.4% year-on-year as of September 2025, marking a return to positive growth for nearly 18 months[12] - The company opened new duty-free stores in Shenzhen, Guangzhou, and Chengdu, adopting a dual-track operation model of "duty-free + taxable" to enhance consumer engagement[13] - The company is advancing the construction of the third phase of the Sanya International Duty-Free City project, among other ongoing projects[13] - The company is enhancing its market presence in Macau with the opening of a new concept store and the development of a duty-free shop at Macau International Airport[13] Inventory and Liabilities - The company's inventory as of September 30, 2025, was CNY 17.22 billion, slightly down from CNY 17.35 billion at the end of 2024[15] - The company's non-current liabilities totaled CNY 4.24 billion as of September 30, 2025, compared to CNY 4.34 billion at the end of 2024[17] Research and Development - Research and development expenses increased significantly to CNY 67.69 million in 2025 from CNY 8.73 million in 2024, reflecting a growth of 675.5%[20] Accounting Changes - The new accounting standards or interpretations will be implemented starting from 2025, affecting the financial statements at the beginning of the year[24] - The announcement was made by the board of directors of China Tourism Group Duty Free Corporation on October 30, 2025[25]