Zheng Quan Ri Bao·2025-12-18 07:13Core Viewpoint - China Duty Free Group has won the bid for duty-free store projects at Shanghai Pudong International Airport and Shanghai Hongqiao International Airport, marking a significant development in the competitive landscape of duty-free operations in major Chinese airports [1][4]. Group 1: Bid Announcement and Details - China Duty Free Group, a wholly-owned subsidiary of China Duty Free Group Co., Ltd., has been awarded the operating rights for duty-free stores at Shanghai Pudong International Airport and Shanghai Hongqiao International Airport, with a total area of 9,630.98 square meters and 2,470.55 square meters respectively [1]. - The operating rights transfer period is structured in two phases: the first phase lasts for 5 years from January 1, 2026, to December 31, 2030, with a potential 3-year extension based on performance assessments [1]. Group 2: Financial Terms and Conditions - The financial model for the duty-free operations includes a "monthly fixed fee + monthly sales commission" structure, with fixed fees of 3,090 CNY/m²/month for Pudong and 2,827 CNY/m²/month for Hongqiao, alongside commission rates ranging from 8% to 24% and 8% to 22% respectively [2]. - The new commission rates represent a significant reduction compared to previous agreements, which were linked to passenger traffic and had higher commission rates of 18% to 36% [2]. Group 3: Market Impact and Growth Potential - The increase in international passenger traffic at Shanghai airports, driven by visa-free policies and the city's appeal as an entry point, has been notable, with Pudong's passenger volume increasing by 15.47% year-on-year to 6.9716 million and Hongqiao's by 4.67% to 4.1697 million [3]. - The successful implementation of these projects is expected to enhance the company's channel advantages at key domestic airports, catering to diverse shopping needs and improving the overall duty-free shopping experience [4].