Shen Zhen Shang Bao·2025-12-08 01:37Group 1 - The core point of the news is that China Duty Free Group has rejected the bid qualification of Sunrise Duty Free (Shanghai) Co., Ltd. for the duty-free projects at Shanghai Pudong and Hongqiao International Airports, potentially leading to the exit of this foreign brand from the Shanghai airport duty-free business after 26 years [1] - In 2018, China Duty Free Group acquired a 51% stake in Sunrise Shanghai, becoming the controlling shareholder, which raises questions about why it opposed Sunrise's participation in the airport duty-free project [1] - Investors speculate that this move indicates a shift in the competitive landscape of airport duty-free channels in China, with China Duty Free Group likely aiming to bid directly for the projects instead of allowing its subsidiary to compete [1] Group 2 - China Duty Free Group reported a revenue of 39.862 billion yuan for Q3 2025, a year-on-year decrease of 7.34%, and a net profit of 3.052 billion yuan, down 22.13% [2] - The company's H1 2025 report showed a total revenue of 28.151 billion yuan, a decline of 9.96%, and a net profit of 2.6 billion yuan, down 20.81% [2] - In 2024, the company experienced a revenue of 56.474 billion yuan, a year-on-year decrease of 16.38%, and a net profit of 4.267 billion yuan, down 36.44% [2] - The company's stock performance has been weak, with a closing price of 81.02 yuan per share on December 5, 2023, and a total market capitalization of 167.6 billion yuan, which has dropped over 70% from its peak market value of 740 billion yuan in 2021 [2]