CTG DUTY-FREE(SH:601888) 第一财经·2025-12-08 10:28Core Viewpoint - The article discusses the internal conflict within RiShang Duty Free (Shanghai) Co., Ltd. regarding its participation in the Shanghai airport duty-free project bidding, highlighting the influence of its major shareholder, China Tourism Group (CTG), which may lead to RiShang being excluded from the bidding process [2][4]. Group 1: Company Background - RiShang Shanghai was established in June 1999 and is the first foreign company to operate airport duty-free shops in China [4]. - In 2018, CTG acquired a 51% stake in RiShang Shanghai, becoming the controlling shareholder [4]. - The company operates primarily at Beijing Capital International Airport and Shanghai's Pudong and Hongqiao International Airports [6]. Group 2: Recent Developments - On December 6, 2023, a board meeting was held where CTG's appointed directors voted against RiShang Shanghai participating in the bidding for the Shanghai airport duty-free project [2]. - The bidding process for the Shanghai Pudong and Hongqiao International Airport duty-free shops began on November 17 and is set to close on December 9, 2023 [2]. - RiShang Shanghai's representatives expressed that the decision contradicts the agreement made when CTG took over the company in 2018 [2].