海南政协委员：海南封关带动离岛免税迈入产业驱动新阶段 "从现在来看，消费者排队购物，不光买的是商品，更多的是打卡分享，买的是一次体验和一个记 忆。"高人伯认为，市场的变化也在驱动海南从更多的品牌IP店进行更多的整合，推广场景式的销售， 要求在商家全面的消费领域进行一体化推广。 他说，在产业方面，海南从基础的消费地变成产业策源地，成为吸引国际品牌的一个窗口，"这些消费 的趋势都非常明显，我相信海南自贸港的离岛免税下一步会发展得更好。"(完) 来源：中国新闻网 编辑：万可义 广告等商务合作，请点击这里 中新网海口1月26日电 (记者 王子谦)政协第八届海南省委员会第四次会议26日在海口开幕。在首场"委 员通道"上，海南省政协委员，毕马威企业咨询(中国)有限公司高级合伙人，海南省党外知识分子联谊 会副会长高人伯表示，在海南封关驱动下，离岛免税消费趋势正发生变化，从基础消费地转变成产业策 源地。 2025年11月1日，海南离岛免税新政实施，为离岛免税发展增添动力。海南全岛封关运作更激发了市场 热情。数据显示，封关首月海南离岛免税销售总额达到50.2亿元，同比增长46.8%，每日销售额超过了 1.6亿。 1月18日，顾 ...

事件：中国中免发布公司公告，其全资孙公司中免国际拟以最高不超过3.95 亿美元现金方式收购DFS 大中华区旅游零售业务相关股权及资产。 风险提示：政策推进不及预期、居民消费意愿恢复不及预期等。 H 股定增引入LVMH 集团，深化战略合作：公司拟向Delphine SAS 及Shoppers Holdings HK 增发H 股， 认购价每股77.21 港元，增发完成后LVMH 集团/Miller 家族分别持股0.35%和0.22%，公司大股东中国旅 游集团持股比例50.01%。公司与LVMH 签署战略合作谅解备忘录，深化大中华区合作，LVMH 作为股 东和战略合作方，有利于推进旗下品牌与中免在各个渠道的进一步合作。 海南离岛免税持续高景气，关注相关政策催化：根据海口海关，2025 年12 月海南离岛免税销售额34.2 亿元，同比+17%，购物人次45 万人次，同比-3%，客单价7623 元，同比+21%。封关首月（25.12.18- 26.1.17）离岛免税销售额48.6 亿元，同比+47%，购物人次74.5 万人次，同比+30%，客单价6523 元， 同比+13%。 盈利预测与投资评级：中免集团作为旅游零售龙 ...

证券研究报告·公司点评报告·旅游零售Ⅱ 中国中免（601888） 收购 DFS 大中华区，引入 LVMH 深化战略 合作 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 67,540 | 56,474 | 55,174 | 61,618 | 66,074 | | 同比（%） | 24.08 | (16.38) | (2.30) | 11.68 | 7.23 | | 归母净利润（百万元） | 6,714 | 4,267 | 3,865 | 5,222 | 5,813 | | 同比（%） | 33.46 | (36.44) | (9.42) | 35.11 | 11.31 | | EPS-最新摊薄（元/股） | 3.25 | 2.06 | 1.87 | 2.52 | 2.81 | | P/E（现价&最新摊薄） | 28.76 | 45.25 | 49.95 | 36.97 | 33.21 | [Table_Tag] ...

Core Viewpoint - The shopping frenzy in Sanya, Hainan, showcases a unique phenomenon where tourists are purchasing winter clothing, such as down jackets, at significantly discounted prices despite the warm weather, indicating a strong demand for duty-free shopping in the region [2][4]. Group 1: Shopping Trends - During the New Year period, Sanya's duty-free stores experienced a surge in consumer traffic, with a notable example being a Canadian Goose down jacket originally priced at 10,000 yuan, reduced to 6,900 yuan through various discounts [2]. - The price reduction process was transparent, starting from a duty-free price of 8,400 yuan, followed by additional discounts leading to the final price of 6,900 yuan, attracting many consumers [2]. - The trend is not limited to winter clothing; gold jewelry sales are also booming, with the duty-free gold price at 1,188 yuan per gram, compared to the market price of 1,356 yuan per gram, showing a significant price difference [6]. Group 2: Consumer Behavior - Many consumers, primarily tourists, are purchasing items to take back to their home locations, despite the impracticality of wearing winter clothing in Sanya's warm climate [4]. - Social media discussions reflect a growing interest in traveling to Hainan for shopping, driven by the attractive pricing of products [8]. Group 3: Market Performance - The duty-free market in Hainan is witnessing a significant increase in sales, with data from Haikou Customs indicating a 52.4% year-on-year increase in the number of duty-free items sold during the New Year holiday, totaling 44.2 million items [9]. - The number of shoppers reached 83,500, marking a 60.6% increase, while the total shopping amount reached 712 million yuan, a 128.9% increase compared to the previous year [9]. - The tourism market in Hainan is heating up ahead of the Spring Festival, with flight and hotel prices rising sharply, indicating a robust demand for travel to the region [9].

Core Insights - Hainan has emerged as a popular domestic travel destination, with significant increases in both flight and hotel prices ahead of the upcoming Spring Festival holiday [1][15] - The tourism market in Hainan is experiencing a surge, with notable price hikes for flights and accommodations, indicating a strong demand for travel [1][15] Group 1: Tourism Trends - The flight price from Beijing to Sanya for the first day of the Spring Festival holiday has reached 3600 yuan, a nearly 200% increase from 1350 yuan on January 6 [1] - Hotel prices in Sanya have also surged, with the Atlantis hotel price increasing from 2188 yuan to over 5800 yuan, marking a rise of approximately 165% [1] - During the New Year holiday, Hainan saw a 49% increase in ticket bookings for flights and trains, with a 270% increase in tourism attraction ticket bookings [21] Group 2: International Tourists - A significant number of foreign tourists, particularly from Russia, are visiting Sanya, with reports indicating that over half of hotel guests during peak times were Russian [19] - The implementation of a visa-free policy for citizens from 48 countries has facilitated increased foreign tourism to Hainan [17] - From January to September 2025, Hainan received 973,900 overnight international visitors, a 29% year-on-year increase, with foreign tourists accounting for 82,2600, a 27.7% increase [19] Group 3: Duty-Free Shopping - Hainan's duty-free shopping experience has become a major attraction, with significant discounts on luxury items like Canada Goose jackets, which can be purchased for as low as 6900 yuan after discounts [10][24] - The sales of gold jewelry in duty-free stores are particularly strong, with a price difference of 168 yuan per gram compared to the market price [25] - During the New Year holiday, Hainan's duty-free shops reported a 52.4% increase in sales volume, with total shopping amounts reaching 712 million yuan, a 128.9% increase [27]

Group 1: Tourism Trends - Hainan has become a popular domestic travel destination, with a noticeable increase in tourism activity ahead of the upcoming Spring Festival [1] - Flight and hotel prices in Hainan have risen significantly, with a nearly 200% increase in flight prices from Beijing to Sanya and a 165% increase in hotel prices at Atlantis Sanya [1] - The "vacation + shopping" trend is expected to drive consumer spending during the Spring Festival, following strong performance during the New Year holiday [2] Group 2: International Visitor Insights - A significant influx of foreign tourists, particularly from Russia, has been observed in Sanya, aided by favorable visa policies [3][4] - From January to September 2025, Hainan received 973,900 overnight international visitors, a 29% year-on-year increase, with foreign tourists accounting for 82,2600, marking a 27.7% growth [4] Group 3: Retail and Shopping Dynamics - The New Year holiday saw a 49% increase in ticket bookings for flights and trains to Hainan, with a 270% increase in ticket bookings for tourist attractions [6] - Hainan's duty-free shops have introduced various promotional activities, leading to a surge in consumer spending, with notable demand for luxury brands like Canada Goose and Arc'teryx [6][7] - During the holiday period, Hainan's duty-free sales reached 7.12 billion yuan, a 128.9% increase year-on-year, with a 60.6% rise in the number of shoppers [8]

Group 1 - The core point of the article highlights the significant growth in Hainan's duty-free sales during the New Year holiday, with total sales exceeding 5 billion yuan, marking a year-on-year increase of 121.5% [2] - During the first two days of the holiday, the number of shoppers reached 65,000, and the number of items sold was 307,000, representing year-on-year increases of 60.9% and 48.3% respectively [2] - The new duty-free policy implemented in November has stimulated consumer interest, particularly among international travelers, enhancing the appeal of Hainan as a shopping destination [3] Group 2 - Hainan's duty-free shopping experience has been enhanced by the introduction of over 30 new stores and more than 70 exclusive products, catering to diverse consumer needs [2] - The management of the global supply chain by China Duty Free Group has led to a comprehensive upgrade of product offerings, which has invigorated holiday shopping [2] - Innovations in customs procedures, such as the "免保衔接" model and the "集中+自动" order review process, have improved the efficiency of duty-free goods circulation and reduced logistics costs for businesses [3]

另外，据去哪儿旅行数据显示，元旦期间飞往海口、三亚的机票增幅全国最高，多个免税店附近酒店入 住量同比增长超1倍。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 观点网讯：1月3日，据海口海关统计，2026年1月2日，海口海关共监管海南离岛免税销售15.9万件，同 比增长70.6%;购物人数3.3万人次，同比增长77.6%；购物金额2.54亿元，同比增长156.6%。 ...

新华社海口1月3日电（记者罗江、刘雨田、郭良川）今年元旦是海南自贸港迎来封关运作后的首个小长假。元旦假期，三亚、海口等地离岛免税购物热度持 续走高，各免税店内客流上扬，热门柜台前人流集聚。八方来客催热消费市场。去哪儿旅行数据显示，元旦期间飞往海口、三亚的机票增幅全国最高，多个 免税店附近酒店入住量同比增长超1倍。据海口海关统计，2026年1月2日，海口海关共监管海南离岛免税销售15.9万件，同比增长70.6%;购物人数3.3万人 次，同比增长77.6%；购物金额2.54亿元，同比增长156.6%。 图为中免海口国际免税城。新华社发针对岛内居民免税购物，海南省商务厅也发布了《海南自由贸易港岛内居民消费"零关税"进境商品经营主体以及免税店 管理办法（试行）》公开征求意见，后续将加快政策落地，让本地消费者进一步享受免税购物红利。离境游客也成为离岛免税购物消费的新增长点。自海南 离岛免税新政实施以来，海口海关共监管离岛且离境旅客购买离岛免税商品金额超过2100万元。记者在中免海口国际免税城、海口日月广场各免税店看到， 外国游客的身影随处可见。针对日益增多的国际旅客，中免海口国际免税城服务台配备了翻译机，确保游客交流、 ...

格隆汇1月3日｜据央视，自海南自贸港启动全岛封关以来，离岛免税购物热度持续走高。海口海关2日 披露，元旦假期首日，海南离岛免税销售14.8万件，同比增长30%；购物人数3.2万人次，同比增长 45.8%；购物金额2.51亿元，同比增长93.8%。 ...