ZHUHAI ZHUMIAN GROUP(SH:600185) Zheng Quan Shi Bao Wang·2025-07-17 09:33Core Insights - The Qingmao Port has become a significant hub for trade and travel between Guangdong and Macau since its opening in 2021, benefiting from a "two places, one inspection" model and 24-hour operations [1][2] - The port has recorded a daily passenger flow of approximately 100,000, peaking at 134,000, with a total of about 18 million travelers processed in the first half of 2025 [1][2] - The opening of the duty-free shop at Qingmao Port is expected to enhance shopping options for travelers and stimulate economic activity in the area [1][3] Company Developments - Zhuhai Duty-Free Group has established a strong presence in the duty-free market, operating nearly 20 duty-free stores across various land, port, and airport locations in China, including all key entry and exit points in Zhuhai [2] - The newly opened Qingmao Port duty-free store is part of a coordinated network with other key stores, enhancing cross-border shopping experiences for travelers [2] - Following a major asset restructuring in 2024 and integration into Huafa Group in 2025, Zhuhai Duty-Free Group is focusing on a business model centered around "duty-free + commercial management + trade," aiming to exit real estate operations within five years [2][4] Operational Highlights - The Qingmao Port duty-free store spans approximately 90 square meters and primarily sells popular duty-free items such as alcoholic beverages [3] - The company is leveraging the synergies from Huafa Group's three major industrial clusters to accelerate its transition towards a platform-based, ecological, and professional model [4]