Xin Lang Cai Jing·2025-12-18 10:44Core Viewpoint - The bidding for duty-free shops at Shanghai airports has concluded, with China Duty Free Group (CDFG) and foreign-owned Dufo Ray winning the contracts, marking the exit of Japan Duty Free (JDF) from the Shanghai airport duty-free business [2][4]. Group 1: Bidding Outcome - CDFG won the rights to operate duty-free shops at Shanghai Pudong International Airport's T2 terminal and Hongqiao International Airport's T1 terminal, while Dufo Ray secured the T1 terminal at Pudong [4]. - JDF attempted to participate in the bidding despite internal opposition from CDFG's board members, leading to a failed bid [3][4]. Group 2: Financial Implications - CDFG's decision to operate the duty-free shops is seen as a strategy to improve its financial performance, as the company has faced declining revenues and profits in recent years [5]. - In 2023, CDFG reported a revenue of 39.862 billion yuan, a decrease of 7.34% year-on-year, and a net profit of 3.052 billion yuan, down 22.13% [5]. Group 3: Historical Context - JDF has been a significant player in China's duty-free market since its establishment in 1999, holding exclusive rights at major airports until recent developments [7]. - The control of JDF shifted over the years, with CDFG acquiring a majority stake in JDF, which has led to conflicts of interest in bidding situations [7]. Group 4: Future Prospects for JDF - JDF is now focusing on its remaining operations, particularly at Beijing Capital International Airport, where it may face similar challenges in upcoming bids [8]. - The company is exploring new avenues for growth, including an online platform and a new membership system, indicating a potential shift in its business strategy [10].