Core Viewpoint - 中烟香港's exclusive cigarette export business will not be affected by the draft regulations released by the National Tobacco Monopoly Administration [1] Group 1: Regulatory Impact - The draft regulations titled "Management Measures for Tobacco Products in the Duty-Free Market" were published on July 25, 2025 [1] - The only enterprise qualified for tobacco import and export state-owned trade is China Tobacco International Co., Ltd. [1] Group 2: Business Operations - 中烟香港 engages in the procurement of cigarettes from China National Tobacco Corporation and exclusively sells them in duty-free markets in Thailand, Singapore, Hong Kong, and Macau [1] - Approximately 10% of 中烟香港's revenue for the fiscal year 2024 is derived from the domestic duty-free cigarette business in China [1] - The draft regulations do not impact 中烟香港's exclusive cigarette export business outside of the domestic duty-free market [1]
中烟香港：独家卷烟出口业务不受相关法规草案影响