Zhi Tong Cai Jing·2026-01-09 01:52Core Viewpoint - The tourism market in Hainan is experiencing significant growth, driven by the benefits of the new free trade policy and diverse product offerings, indicating a transition to high-quality development in the sector [1] Group 1: Company Performance - China Duty Free Group (中国中免) shares rose nearly 4%, reaching HKD 84, with a trading volume of HKD 50.17 million [1] - Morgan Stanley forecasts that by Q4 2025, China Duty Free's revenue, operating profit, and net profit will grow by 19%, 92%, and 135% year-on-year, respectively [1] Group 2: Industry Insights - During the New Year holiday in 2026, Hainan received 2.1716 million tourists, a year-on-year increase of 25.2%, and generated a total tourism revenue of CNY 3.136 billion, up 28.9% year-on-year [1] - The growth in revenue outpaced the increase in visitor numbers by 3.7 percentage points, indicating an ongoing optimization of the consumption structure [1] - The duty-free and inbound tourism sectors showed remarkable performance, with expectations that the Hainan duty-free market will grow by 25% to 30% year-on-year in 2026, contributing to a 44% profit growth for China Duty Free [1]