Di Yi Cai Jing·2025-12-08 10:55Core Viewpoint - The board of directors of RiShang Duty Free (Shanghai) Co., Ltd. is in a dispute regarding participation in the Shanghai airport duty-free project bidding, with the majority of directors opposing the bid, potentially leading to the company's exit from the airport market [3][5]. Group 1: Company Background - RiShang Duty Free was established in June 1999 and is the first foreign company to operate airport duty-free shops in China [5]. - In 2018, China Tourism Group's subsidiary, China Duty Free Group, acquired a 51% stake in RiShang Duty Free, becoming the controlling shareholder [5]. - The company operates primarily at Beijing Capital International Airport and Shanghai's Pudong and Hongqiao International Airports [6][7]. Group 2: Current Situation - On December 6, 2025, a board meeting was held where the chairman, appointed by the major shareholder China Duty Free Group, indicated that the company would not participate in the bidding for the Shanghai airport duty-free project [3]. - The bidding process for the Shanghai airport duty-free shops began on November 17 and is set to close on December 9, 2025 [3]. - The disagreement among shareholders raises questions about the future of RiShang Duty Free's operations at Shanghai airport, as the chairman's refusal to sign the bidding documents could prevent the company from participating [3].