智通财经网·2026-03-09 03:44Group 1 - China Duty Free Group (01880) has seen a decline of over 4%, with a cumulative drop of nearly 34% since the holiday period, currently trading at 70.5 HKD with a transaction volume of 65.63 million HKD [1] - During the 2026 Spring Festival holiday, Haikou Customs reported a total duty-free shopping amount of 2.72 billion CNY, an increase of 30.8% compared to the previous year, with 325,000 shoppers, reflecting a year-on-year growth of 35.4% [1] - Nanjing Securities noted that while the duty-free market in Hainan experienced a consumption peak during the Spring Festival, the growth rate of per capita spending was below expectations [1] Group 2 - Guotai Junan Securities indicated that overall duty-free sales during the holiday were stable, and the data falling short of expectations has temporarily pressured the stock price, but this does not indicate a trend reversal [1] - Short-term factors such as reduced discounts and currency appreciation have not yet been reflected in financial statements, while mid-term prospects remain positive due to the recovery of high-end consumption and the return of Japanese tourism [1] - Galaxy Securities stated that the further downside for Hainan's duty-free sales is limited, and with ongoing optimization of domestic duty-free policies, the industry is expected to experience a recovery and incremental resonance [1]