Zhi Tong Cai Jing·2025-11-07 02:07Core Viewpoint - China Duty Free Group (601888) has seen a stock price increase of over 4%, currently trading at 70.05 HKD with a transaction volume of 263 million HKD, driven by the upcoming full closure operation of Hainan Free Trade Port on December 18 this year [1] Group 1: Market Dynamics - The full closure of Hainan is expected to usher in a new chapter of openness, with the offshore duty-free policy remaining a core pillar of Hainan's consumer market [1] - The inclusion of international travelers in the duty-free shopping policy is anticipated to boost the recovery and development of the offshore duty-free sector [1] Group 2: Company Performance - According to Shenwan Hongyuan's research report, China Duty Free Group's profits were under pressure in the first three quarters, but there are signs of stabilization with monthly sales in core Hainan business showing year-on-year growth and an increase in market share [1] - The revenue began to rebound in the third quarter, supported by the ongoing recovery of airport channels and the opening of new large-scale city duty-free stores, which are expected to provide new growth momentum for the company [1] Group 3: Long-term Outlook - The long-term value of the company is viewed positively due to the expected increase in business traffic following the closure of Hainan Free Trade Port, as well as the company's multi-channel strategy encompassing "Hainan + airport + online + city" [1]