上海机场回应免税新协议进展：正抓紧开展相关工作

Core Points - Shanghai Airport is actively working on the new agreement for the duty-free project in accordance with relevant policy requirements [1] - The company announced a public tender for duty-free shops at Shanghai Pudong International Airport and Shanghai Hongqiao International Airport, with a submission deadline of December 9, 2025 [1] Financial Performance - In the previous year, Shanghai Airport's duty-free contract revenue was 1.212 billion yuan, a decline of over 30% year-on-year, while the first quarter of this year saw duty-free contract revenue of 343 million yuan, down 1.15% year-on-year [2] - From 2017 to 2019, the rent paid by Dayang Shanghai to Shanghai Airport for duty-free shops increased annually, reaching 2.555 billion yuan, 3.681 billion yuan, and 5.210 billion yuan, accounting for 31.69%, 39.53%, and 47.60% of annual revenue respectively [2] - Due to the significant reduction in outbound tourists during the pandemic, duty-free shop rental income dropped sharply, with revenues of 1.156 billion yuan, 486 million yuan, and 363 million yuan from 2020 to 2022 [2] - In 2023, the duty-free business of Shanghai Airport showed signs of recovery, with revenue reaching 1.788 billion yuan, an increase of nearly four times year-on-year [2]