智通财经网·2025-12-10 06:43Group 1 - The core viewpoint is that China Duty Free Group (中国中免) is expected to be a strong contender in the upcoming bidding for duty-free stores at Shanghai Pudong and Hongqiao International Airports, which could enhance its net profit if it bids with 100% ownership [1] - China Duty Free Group has a strong track record in previous airport bids, having won contracts at Beijing Capital Airport and Daxing Airport due to high technical scores, despite not being the top financial bidder [1] - The company is expected to maintain a collaborative relationship with brand partners and airports, which will continue to drive growth in the offshore duty-free segment, especially with new policies potentially increasing market opportunities [1] Group 2 - Morgan Stanley anticipates the results of the duty-free store bids at Shanghai and Beijing airports to be announced soon, with China Duty Free Group currently holding a 51% stake in the operating company Sunrise [2] - Several scenarios have been outlined by Morgan Stanley, with the base case predicting that China Duty Free Group will secure one contract at each airport, leading to stable stock performance [2] - If China Duty Free Group secures contracts at both airports and utilizes its wholly-owned licenses, the stock could rise by 5% to 10%, while simultaneous wins for Sunrise at both airports could result in a stock decline of 5% to 10% [2]