Ge Long Hui·2026-03-20 11:15Core Viewpoint - The company, China Duty Free Group (01880.HK), reported a stable performance in Q4 2025, focusing on quality improvement and innovation to enhance operational results [1] Financial Performance - In Q4 2025, the company achieved revenue of RMB 13.831 billion, representing a year-on-year increase of 2.81% [1] - The net profit attributable to the parent company was RMB 534 million, showing a significant year-on-year growth of 53.49% [1] - The gross margin for the main business improved, with a year-on-year increase of 0.51 percentage points, and a notable increase of 4.12 percentage points in Q4 2025 [1] - Inventory turnover rate increased by approximately 10% year-on-year [1] - Excluding the impact of goodwill impairment, the net profit attributable to the parent company would have increased by 150.63% year-on-year [1] Strategic Initiatives - The company capitalized on the new duty-free policies in Hainan and the official closure of Hainan Island, achieving record sales and customer traffic in key stores during the Spring Festival [1] - The company is steadily advancing key projects related to equity and asset acquisitions, effectively transitioning and opening key airport stores to meet the growing domestic consumption and global tourist demand [1]